Falcon Trace Community Development District

Agenda January 16, 2019

AGENDA

Falcon Trace
Community Development District
135 W. Central Blvd., Suite 320, Orlando, FL 32801
Phone: 407-841-5524 - Fax: 407-839-1526

January 9, 2019

Board of Supervisors Falcon Trace
Community Development District
Dear Board Members:

The regular meeting of the Board of Supervisors of Falcon Trace Community Development District will be held Wednesday, January 16, 2019 at 6:00 PM at the Big Hawk Lake Recreation Center, 13600 Big Hawk Lake Drive, Orlando, Florida. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Organizational Matters
Administration of Oath of Office to Newly Elected Supervisor
Election of Officers
Consideration of Resolution 2019-01 Electing Officers
Approval of the Minutes of the August 15, 2018 Meeting
Consideration of Resolution 2019-02 Approval of State Board of Administration Investment Account
Consideration of Non-Ad Valorem Assessment Administration Agreement with Orange County Property Appraiser
Ratification of Agreement with Grau & Associates, Inc. to Provide Auditing Services for Fiscal Year 2018
Staff Reports
Attorney
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Presentation of Series 2007 Rebate Calculation Arbitrage Report
Field Manager's Report
Supervisor's Requests
Adjournment

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

The third order of business is organizational matters. Section A is administration of Oath of Office to the newly elected Supervisor. Section B is Election of Officers. Section C is consideration of Resolution 2019-01 electing officers. A copy of the resolution is enclosed for your review.

The fourth order of business is the approval of the minutes from the August 15, 2018 meeting. The minutes are enclosed for your review.
The fifth order of business is consideration of Resolution 2019-02 approval of State Board of Administration investment account. A copy of the resolution is enclosed for your review.
The sixth order of business is consideration of Non-Ad Valorem Assessment Administration Agreement with Orange County Property Appraiser. A copy of the agreement is enclosed for your review.
The seventh order of business is ratification of agreement with Grau & Associates, Inc. to provide auditing services for Fiscal Year 2018. A copy of the engagement letter is enclosed for your review.
Section B of the eighth order of business is the District Manager's Report. Section 1 includes the check register being submitted for approval and Section 2 includes the balance sheet and income statement for your review. Section 3 is presentation of Series 2007 rebate calculation arbitrage report. A copy of the report is enclosed for your review. Section 4 is the Field Manager's Report, which will be presented at the meeting.

Z�£---

The balance of the agenda will be discussed at the meeting. In the meantime, if you should have any questions, please do not hesitate to contact me.
Sincerely,

District Manager
CC:		Mike Eckert, District Counsel Lindsay Whelan, District Counsel Darrin Mossing, GMS
Enclosures

SECTION Ill

SECTION C

RESOLUTION 2019-01
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT ELECTING THE OFFICERS OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the Falcon Trace Community Development District (the "District") is a local unit of special purpose government created and existing pursuant to Chapter 190, Florida Statutes; and
WHEREAS, the Board of Supervisors of the District ("Board") desires to elect the Officers ofthe District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT:
Section 1.	 	is elected Chairperson.
Section 2.	 	is elected Vice-Chairperson.

Section 3.

---------- is elected Secretary.

Section 4.	 	is elected Assistant Secretary.
_ 	is elected Assistant Secretary.
 	is elected Assistant Secretary.
__________ is elected Assistant Secretary.

Section 5.
Section 6.
Section 7.

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

PASSED AND ADOPTED this 16th day of January, 2019.

ATTEST:

Secretary/Assistant Secretary

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

Chairperson/Vice-Chairperson

SECTION IV

MINUTES OF MEETING FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Falcon Trace Community Development District was held Wednesday, August 15, 2018 at 6:00 p.m. at the Big Hawk Lake Recreational Center, 13600 Hawk Lake Drive, Orlando, Florida.

Present and constituting a quorum were:

Sara Hurst Carole Miller Kathy Stark
Sue Marchesi Baron Felix Kutlik
Also Present were:

Jason Showe Michelle Rigoni Alan Scheerer William Viasalyers

FIRST ORDER OF BUSINESS

Chairperson Vice Chairperson
Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel Field Operations GMS

Roll Call

Mr. Showe called the meeting to order and called the roll.

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

THIRD ORDER OF BUSINESS	Approval of the Minutes of the May 16, 2018
Meeting

On MOTION by Ms. Hurst seconded by Ms. Stark with all in favor the minutes of the May 16, 2018 meeting were approved as presented.

FOURTH ORDER OF BUSINESS	Public Hearing

August 15, 2018	Falcon Trace CDD

Consideration of Resolution 2018-02 Adopting the Fiscal Year 2019 Budget and Relating to the Annual Appropriations

On MOTION by Ms. Stark seconded by Ms. Miller with all in favor the public hearing for the budget and imposition of assessments was opened.

Mr. Showe stated the next item is Resolution 20I 8-02 adopting the Fiscal Year 20I 9 budget. This budget is almost identical to the one you saw as the proposed budget, it is important to note that there are no assessment increases proposed, we also have the same line item descriptions on all line items. We are projecting at the end of the current fiscal year to have
$234,000 in the capital projects fund. We have a few projects scheduled for next year, but we will bring those back to the Board before we spend anything. You have two more fiscal years of debt assessments then that will be gone.
We can open the floor for any public comment on the budget, hearing none, we will bring it back to the Board for discussion and consideration. There being no further discussion by the Board,

On MOTION by Ms. Hurst seconded by Ms. Miller with all in favor Resolution 2018-02 Adopting Fiscal Year 2019 Budget was approved.

Consideration of Resolution 2018-03 Imposing Special Assessments and Certifying an Assessment Roll for Fiscal Year 2019
Mr. Showe stated the second part of the budget process is Resolution 2018-03 and
attached to this resolution will be the final budget you just adopted as well as the assessment roll. This will be transmitted to the tax collector to place the assessments on the individual tax bills.
We will open the floor for public comments on the assessment portion and hearing none, we will bring it back to the Board for discussion and consideration. There being no further discussion by the Board,

On MOTION by Ms. Hurst seconded by Ms. Miller with all in favor Resolution 2018-03 Imposing Special Assessments and Certifying an Assessment Roll for Fiscal Year 2019, was approved.

2

August 15, 2018	Falcon Trace COD

On MOTION by Ms. Stark seconded by Ms. Baron with all in favor the public hearing was closed.

FIFTH ORDER OF BUSINESS
Attorney

Staff Reports

Ms. Rigoni stated as a follow-up from the last meeting on the sidewalk between the pond and Orange Avenue, I reviewed the plat and found that there is a public access and utility easement in favor of the County. So, at this time the CDD cannot remove the sidewalk unless we get consent from the County. If the Board wishes, we can ask the County to release their easement but without that consent we cannot do anything about it.
Ms. Miller asked is there a cost to us to ask them to remove it? Are we subject to any penalties?
Ms. Rigoni stated a minor cost to prepare a letter to the County. Mr. Showe stated there may be some minor survey cost.
Ms. Miller stated I think we have to protect the homes and that is why we raised that question. Perhaps we need to go down that path so we can protect the community.
Ms. Hurst stated if we go down that path and they say no, we will be able to say we have done what we could. Could you at least investigate that for us?
Ms. Rigoni responded yes. Do I have the Board's authorization for me to contact the County?
Ms. Hurst stated yes.

Manager
Approval of Check Register

On MOTION by Ms. Stark seconded by Ms. Hurst with all in favor the check register were approved.

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

Approval of Fiscal Year 2019 Meeting Schedule

3

August 15, 2018	Falcon Trace COD

Mr. Showe stated we prepared the 2019 meeting schedule and kept the same meeting schedule that we had previously. Obviously, you are not locked into that and you can make changes throughout the year as needed.

On MOTION by Ms. Hurst seconded by Ms. Miller with all in favor the Fiscal Year 2019 meeting schedule was approved as follows: meetings at 6:00 p.m. at the Big Hawk Lake Recreation Center, on October 17, 2018, January 16, 2019, March 20, 2019,
May 15, 2019, July 17, 2019 and August 21, 2019.

Field Manager's Report
Mr. Scheerer gave an overview of the work that has been accomplished since the last meeting.
Mr. Scheerer introduced William Viasalyers who will be working with him on the District.

SIXTH ORDER OF BUSINESS	Supervisor's Requests
Ms. Miller asked are there any problems with guests corning through the gate, passes or children issues?
Mr. Viasalyers stated no, some people try to get in with someone else's pass, but we stop
that.
Ms. Hurst asked how did it go this summer with children corning by themselves? Mr. Viasalyers stated we just had a few, not even a dozen people.
Ms. Hurst asked did we redo the slide last year or was that two years ago?
Mr. Scheerer stated that was a few years ago. That is one area we will have to continue to
monitor, not only that but the undercarriage as well, we will make sure that is in good shape. Orange County Painting came in with a really good product and it has held up well.
Ms. Hurst asked what about the ADA chairlift?
Mr. Viasalyers stated it still works but it needs some work done to it.
Ms. Hurst asked do you need our approval for anything or can you just make it happen?
Mr. Scheerer stated we will contact Spies Pools and they are certified to work on that and we will take care ofit.

SEVENTH ORDER OF BUSINESS	Next Meeting Date

4

August 15, 2018	Falcon Trace COD

On MOTION by Ms. Baron seconded by Ms. Hurst with all in favor the meeting adjourned at 6:14 p.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

5

SECTION V

RESOLUTION 2019-02
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE DISTRICT MANAGER TO ESTABLISH AN ACCOUNT WITH THE STATE BOARD OF ADMINISTRATION; APPOINTING THE DISTRICT MANAGER AS ITS LEGAL REPRESENTATIVE WITH RESPECT TO SAID ACCOUNT(S) AND PROVIDING FOR THE DURATION OF SAID AUTHORIZATION

WHEREAS, the Falcon Trace Community Development District (the "District") is a local unit of special purpose government created and existing under Chapter 190, Florida Statutes; and
WHEREAS, the District finds that from time to time has funds on hand in excess of current needs;and
WHEREAS, it is in the best interest District and its landowners that said excess funds be invested to return the highest yield consistent with proper safeguards and the Districts currently adopted policies regarding the deposit ofpublic funds.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FALCON	TRACE	COMMUNITY DEVELOPMENT DISTRICT:
That the District Manager, Governmental Management Services-Central Florida, LLC, ("GMS") and its designee, as legal representative(s) of the District is hereby authorized to act as the administrator(s) for funds held at the State Board of Administration.
The District Manager and/or its designee shall have the authority to establish an account(s) on behalf of the District with the State Board of Administration, withdraw funds from or transmit funds to said account(s) at the State Board of Administration, establish funds transfer instructions, name designee(s), and initiate changes to this information via the Investment Pool Input Document.
· That this authorization shall be continuing in nature until revoked by District or until a new legal representative is appointed.

IBIS RESOLUTION INTRODUCED AND ADOPTED by the District at its regularly scheduled meeting this 16th day of January, 2019.

ATTEST:

Secretary/Assistant Secretary

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

ChairmanNice Chairman

SECTION VI

NON-AD VALOREMASSESSMENTADMINISTRATION AGREEMENT

An AGREEMENT made  this 18th  day  of  October,  2018  between  RICK SINGH, CFA, as Orange County Property Appraiser (Property Appraiser) and Falcon Trace CDD, (faxing Authority), and is effective upon acceptance by both parties and through September 30, 2019.
The Taxing Authority desires to use the services of theProperty Appraiser to maintain non-ad valorem assessments on the tax roll and the Property Appraiser is prepared to do so, on behalf of the Taxing Authority. Each party represents that it has satisfied all conditions necessary to enter into this agreement.
The Property Appraiser agrees to perform the following setv1ce for the Taxing  Authority:
Create a Non-Ad Valorem Assessment Roll for the  Taxing  Authority  for the 2019 tax roll year using data provided annually to the Property Appraiser's Office by the Taxing Authority per attached  Calendar  For  Implementation  Of  Non Ad Valorem Assessment Roll.
Provide the Taxing Authority with a data file in a compatible format on or before April 1, containing all parcels within the boundaries of the Taxing Authority to be used for the Taxing Authority's planning purposes in establishing its non-ad valorem assessments. Provide subsequent files or reports at request of the Taxing Authority.
Receive from the Taxing Authority its proposed or adopted non-ad valorem assessment levy for each type of property and extend that amount against each parcel of real property as stipulated by Taxing Authority.
Include the Taxing Authority's non-ad valorem assessments on the Notice Of Proposed Property Taxes And Proposed or Adopted Non Ad Valorem Assessments mailed to all property owners in August of each year.
Receive from the Taxing Authority; corrections or changes to the roll and update the Non-Ad Valorem Assessment Roll for tax bills on or before September
15 of each year, the statutory deadline for certification of non-ad valorem assessments.
Deliver the Taxing Authority's Non-Ad Valorem Assessment Roll to the Orange County Tax Collector's Office so that tax bills mailed on or about November 1 will include the Taxing Authority's non-ad valorem assessment levies.

Taxing Authority agrees to perform the following acts 111 connection with this agreement:
Advise the property owners within the Taxing Authority in an appropriate and lawful m anner of the Taxing Authority's intention to utilize the Uniform non-ad valorem assessment method described in Sections 197.3631 through 197.3635, Florida Statutes� and carry out its responsibilities under said sections.
Timely provide the Property Appraiser with information required to prepare the Uniform Non-Ad Valorem Assessment Roll per the Calendar For Implementation Of Non-Ad Valorem Assessment Roll.
Advise the property owners within the Taxing Authority as appropriate that the Property Appraiser's office is acting in a ministerial capacity for the Taxing Authority in connection with the non-ad valorem assessments.
Preparation and delivery of certificate of corrections directly to Tax Collector, with copy to Property Appraiser, for any corrections to a certified final tax roll.
The Taxing Authority shall use its best efforts in furnishing the Property Appraiser with up-to-date data concerning its boundaries, proposed assessments and other information as requested from time to time by the Property Appraiser and necessary to facilitate his making the assessment in question. The Property Appraiser shall, using the infonnation provided by the Taxing Authority, place the District's non-ad valorem assessments, as made from time to time and certified to him, on properties within the district.
The Property Appraiser shall be  compensated by the Taxing Authority for the administrative costs incurred in carrying out this Agreement. These costs include, but are not limited to labor, printing, forms, office supplies, computer equipment usage, postage, programming or any other associated costs.
On October 18, 2018, an administrative fee will be invoiced to the Taxing Authority equivalent to $1 per parcel assessed with a non-ad valorem tax. Parcel counts supporting the invoiced fee will be determined based upon the most current certified non-ad valorem assessment roll. Any new assessments added to the tax roll that were not previously certified and invoiced an administrative fee, will be separately invoiced on or around July 15 and prior to mailing of the Notice of Proposed Property Taxes in August.
The specific duties to be performed under this agreement and their respective timeframes are contained in the Calendar For Implementation Of Non Ad Valorem Assessment Roll, which is incorporated herein by reference.
This agreement constitutes the entire agreement between the parties and can only be modified in writing.
All parts of this Agreement not held unenforceable for any reason shall be given full force and effect.

All communications required by this agreement shall be m writing and sent  by  first  class mail, email or facsimile to the other party.
Notices to the Taxing Authority shall be addressed to: Falcon Trace CDD
% Jason Showe
Governmental Management Services
135 W. Central Blvd., Ste 320
Orlando, FL 32801
jshowe@govmgtsvc.com
(407)841 -5524 x105
Notices to the Property Appraiser shall be addressed to: Alena Safonava, Finance Department
Orange County Property Appraiser 200 S. Orange Ave., Suite 1 700 Orlando, FL 32801
asafonava(a ocpa tlor�
(407) 836-5039

TERMINATION.  This  Agreement  may  be  terminated  by either  party  upon  written notice.   If  terminated  on  or  before  April  1,  a  100%  refund  of fee will apply.   If terminated between April 2 and July 15, a 50% refund of fee will apply. Property Appraiser will perform no further work after the written termination notice is received.
ORANGE COUNTY PROPER1Y APPRAISER
Signed._ 	 Rick Singh, CFA
Date 	

FALCON TRACE CDD
Name 	

Signed__·   	_ 	_

Date 	

CALENDAR FOR IMPLEMENTATION OF NON-AD VALOREM ASSESSMENTS
On or about April 1st - Property Appraiser to provide the Taxing Authority  with  an electronic file that includes parcel ID and any other information applicable or requested. Taxing Authority may request this file at any  time after  January  1st,  but  must understand that many splits/ combos, annexations, etc., may not be reflected early in the tax year and subsequent files may be necessary. Ifany additional information is required at any time by Taxing Authority, it should be requested of the Property Appraiser by Taxing Authority, allowing for a reasonable turnaround time. The file shall be in an ascii file, text or
excel file, unless another format is requested and agreed upon between parties.
June 1
Property  Appraiser	distributes	Best Estimate of Taxable Value to all Taxing Authorities.
July 1
Property Appraiser certifies Preliminary tax roll to all taxing authorities.
Taxing Authority reviews all assessments and provides final approval for Notice of Proposed Property Taxes (TRIM)
July 15
Property Appraiser to invoice Administrative Fee for new parcels, if any, assessed and in excess of prior year certified non-ad valorem assessment roll parcel count.
August 4
Taxing Authority adopts its proposed millage rate and submits to the Property Appraiser for TRIM.
August 24
Last day Property Appraiser can mail TRIM notices to all property owners  on the tax roll.
September 4 - September 18 
Taxing Authority holds initial public budget hearing.
September 14 
Taxing Authority certifies final non-ad valorem assessment roll to Property Appraiser on or before S eptember 15 with any changes, additions ot deletions to the non­ ad valorem assessment roll since the TRIM notices.
October
Property Appraiser to mail Non-Ad Valorem Assessment Administration Agreement and invoice for non-ad valorem assessment processing for subsequent tax roll, based upon most recent certified non-ad valorem assessment roll parcel count.
Property Appraiser delivers the Taxing Authority non-ad valorem assessment roll to the Tax Collector for  collection  of taxes  on November  1  tax bills.-

SECTION VII

V

� Grau & Assodates
CERTIFIED  PUBLIC ACCOUNTANTS

August 13, 2018

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

To Board of Supervisors
Falcon Trace Community Development District 1 35 W Central Blvd., Suite 320
Orlando, Florida 32801
We are pleased to confinn our understanding ofthe services we are to provide Falcon T�ce Community Development District, Orange County, Florida ("the District") for the f1Scal year ended September 30, 2018. We will audit the financial statements of the governmental activities and each major fund, including the related notes to the financial statements, which collectively comprise the basic financial statements of Falcon Trace Community Development District as of and for the fiscal year ended September 30, 2018. In addition, we will examine the District's compliance with the requirements of Section 218.415 Florida Statutes. This letter serves to renew our agreement and establish the terms and fee for the 2018 audit.
Accounting standards generally accepted in the United States of America provide for certain requi,:ed supplementary information (RSI), such as management's discussion and analysis (MD&A), to supplement the District's basic financial statements. Suc;h Information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Bo.ard who considers it to be an essential part offinancial reporting fo� placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagE[lment, we will apply certain 6mited procedul'$S to the District's RSI in accordance with auditing standards generally accepted in the United States ofAmerica. These limited procedures will consist of inquiries of management regarding the methods ofpreparing the information and comparing the information for consistencywith management's responses to our Inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We will not express an opinion or provide any assurance on the Information because the limited procedures do not provide us with
sufficient evidence to express ari opinion or provide any assurance.
The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:
Management's Discussion and Analysis.
Budgetary comparison schedule Audit Objectives
The objective of our audit is the expression of opinions as to whether your financial statements are fairiy presented, in an material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary informa�ion referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the District and other procedures we consider n�ssary to enable us to expre/38 such opinions. We will Issue a written report upon completion of our audit of the District's financial statements. We cannot provide assurance that ail unmodified opinion will be expressed. Ciratmstances may arise in which it is necessary for us to modify our opinion or add emphasis-of­ matter or other-matter paragraphs. If our opinion on the financial statemen� is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to co·mp1ete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
We will also provide a report (that does not include an opinion) on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing stand�rds. The report on internal control and on cornplian� and other matters will include a paragraph that states (1 ) that the purpose of the report is solely to describe the scope of testing of internal control and compliance, and the results of that testing, and not to provide an opinion on the effectiveness of the District's Internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control and compliance. The paragraph will also state that the report is not suitable for any other purpose. If during our audit we become aware that the District 1.s subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

Falcon Trace Community Development District
2
Examination Objective

the	with

The objective of 01.1r examination is the expression of an opinion as to whether the Distri� is in compllance With Florida Statute 21 BA15 in accordal')ce with Rule 10.556(10) of the Auditor General of the State of Florida. Our exsmination will be conducted in accordance with attestation siandards established by the American l.nstitute of Certified Public Accountants and w.iil irtclucie tests ofyour records and other procedures we consider necessary to enable us to express such ari opinion'. We will issue a written report. upon completion of our examination of the District's corriplianee. Tht! report will include , statement that the report is ln�fid.ed solely for the information and u� of malla99.ment, those charged with 90vemance, and the Florida Auditor General, and is not intended to be and should not be used by anyone other thari these specified parties. We cannot provide assurance that an unm,odified opjnion will � expressed. Circumstances ,nay arise in whi�h it is necessary for us to modify our opinion or add ernj:>hasis-of-matter or other­

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matter paragraphs. If our opinion on the Diw.Jct's compliance Is other than unmodified, we wili discuss reasons
you in advance, If, for any reason, are unable to complete the examiliation or are unable to form or hE!ve not formed an opinion, we may decline to express en opinion or issue a report, or may withdraw from this engagement.
Other Services

refuse

We will assist in pi:eparing the financial statements and related notes of the District in confoimity with U.S. generally ac::cepted accounting principles based on information provic,ed by you. These h<>naudit services do not constitute en audit under Government Auditing StandarcJs and such services Will not be conducted in accordance with Government Auditing standards. the other services are limited to the financial statement servi� previously defined. We, in our sole prc,f�ional judgment, reserve ttie right to	to perfonn any procedure or take aily action that could be
construed as assuming management responsibilities. Management R••ponslbllltles

with

Management is responsible for compliance with Florida Statute 218.415 and will prc>vide us With the information required for the examination. the accuracy and completeness of such information is also m.anageinent's responslbHity. YO!J agree to assume all management responsibilities relating to the flriancial statements and related no1" and any other nonaudit !ieivices we provide. You will be required to ackn9Wledge in the ma.ilagement represeniaiion letter our assistance prepallltion of the financial statements and related notes and that you have reviewed and approved the finl3ncial statements and related notes prior to their issuance and have accepted tesponsibiiity fo'r tl)ertt. In addition, you will l)e reqi.tired to make certain representations regarding compliance with Florida . $tatute 218.415 in the management representation letter. Further, you agree to o.versee the nonaudit services by designating an !ridividual, preferably froril senior management, who .pc>SS8SS8S suitable skill, knowledge, or experienee·; evaluate the adequacy and results of those seivices; and ace13pt responsibility for them.

.	.

and

Management is respansible fordesigning, implementing and "'8intaini!'lg effective internal conti"pl&, including eval�ting arid monitoring ongoing a¢ivities, to help ensure that appropriate goals and objectives are met; following la� and regulations; and ensuring that rnanageinent and financial information is reliable property reported. Man13gement Is also resporislble for in:1pleD1enting systems designed to achieve compliance•v.,ith applicable laws; r89Ulations, contracts, and grant agreements. You are also responsible for the selection arid application of accounting principles, for the preparation and fair presentation ofthe financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.
Manageme11t is also responsible for making all financial records and related inronnation avallable to us and for the accuracy and completeness of that information. You are also responsible tor providing us with (1) acce$S to all infonnation of �ich you are aware that-ls relevant to the pre�rat�n and fair presentation of the financial statements,
additional information th.at we inay reguest for the purpose ofthe audit, and. (3) unrestricted aiccess to persons Within the govemrnerit frorn Whom We determine it n8C8$$8ry to obtain �udit evldenc::e.
Your responsibllit�s include adjusting the financial statements to correct material 111.isstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by U$ during th_e current engagement arid pertaining to the latest period presented are immaterial, both individually and in the aggregiite, to the financial statements taken as a whole.
You are responsible for the design and implementation of programs and- controls to prevent and d�tect fraud, and for infonniiig us atx>ut all known or suspected fraud affecting the government involving (1) management, (2) employees who have significant roles in intemalcontrol, and (3)others where the fraud _could have a material effect on the financial statements. You.r responsibilities include informing us of your knowledge of any allegations of fraud orsuspected fraud affecting ttie govemrnent received in communications from employees, former einployees, grantors, regulators, or othE!lrs. In addition, you are i:esponsible for identifying and ensuring that the government complies with applieable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps . to remedy fraud and noncompliance with provisions of laws, regulations, contracts or grant agreements, or abuse that we report.

for

Management is responsible for establishing and maintaining a proeess for tracking _the status of audit findings and recommendations. Management is also responsible identifying and providing report copies of prevjous financial audits, attestation engagements, performance audits or other studies related to t�e objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to add11tss significant

Falcon Trace Community Development District
3

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findiflgs and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing . management's views on our curr�nt findings, a.,nch.isions, and recommendations, as well as your planned corrective actions, for the report, arid for timing and format for providing that infonnation.
With regard to using the audit's report, you understand that you must obtain our prior writt&n consent to reproduce or use our report in bond offering official statements or other documents.

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With regard to the electronic dissemination of audited financial statements, including financial statements published e��rol'lically on y�rwebsite, you ,,mderstand that electronic sites are a m�ans to distri.bute Information and, therefore, are �t required to read the information contained in these sites or to consider the consistency of other infomiation
In the el�tronic site with the original document.
A,udft Procedu��neral

the

An audit in,cludes examining, on a test basis, eviclence supporting the amounts and disclosures in the financial statements; ttierefore, our audit will involve judgment al:iotit ihe m.i,riber of transactiotis to be· examined arid the areas to be tested. An audii also includes evaluating the appropriateness of aqcotinting policies 1,.ised an�     reasonableness ofsignific�mt acco_unting estiinates made by management, as well as evaluating ttie overal_l presentation ofthe financial statements. We will pian arid perform the audit to obtain reasonable rather than absolute assurance about whether the financial !!iatemerits are free of material misstatement, whether from (1) errors,· (2) fraudul�nt financial reporting,_ (3) misappropriation of assets, or (4) vk:ilat_ioris of laws or governmental teg�lations that a� att_ributable to the government or to_ acts by management or employees acting on behalf of the government. Because ttle determination of abuse is subjective, '3overnmentAuditing Standal"ds do not expect auditors to provide reasonable assurance of detecting abuse.

we

�use of the inherent limitations of an audit, combined with the inherent limitations of internal c,oritrol, arid because will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and   not be cietected by us, even though the a.udlt is properly planned and performed in a�rdance with U.S. 'gene�lly accepted, au.ditirig standards and Govemme11t Auditing  Stailda,:ds.. In addlticm, an audit is not designed to detect immaterial misstatements or violaUons of laws or governmental regulatioi:is that do not have a direct and material effect on the firianclal_ s(ateinents. Our responsibility as auditors � limited to the period covered by our 1;1udlt and does not
extend to later periods for which we are not engaged as auditors.

:with

OUr pr�dures will include tests of documentary evidence supporting the transa�ion_s recc;,rded in ttie accounts, and may inc;:lude tests of the physical existence of inventories, and direct confirmation of receivablttS_ a� ce�in other assets and.li�t,ilities by correspondence with selected individuals, funding sources, c�itors, and fiharicial institutions. '(lie will request written represen1atiohs from your attorneys as part of the engagement, and they may biil you for responding to this inquiry. At the conclusion of 9ur audit, we will require �rtain written representations from YOl.l about
your respoosibHi�s for the fin�ne_ial statements; compliance	lawsf regulations,  contracts, and  grant agreements;
and other responsibilities required by ge.nerally accepted aud1tin1;1 standards.
Audit Procedures-internal Control

we	to

�sass

Our audit will include obtaining ari understanding of the government and Its environment, includi.ng internal control, sufficient to	the risks of material misstatement of the financial statements and to design the nab.Ire, timing; and
extent of further audit procedures. Tests of controls may be performed to test the effectiveness of certain controls that consider r'elevarit to preventing and detecting enors a.rid fraud that are material	the financial statements and to preventing and detecting mls_statemenb; resulting from illegal acts and other_ noncompliance matters. that have a direct arid material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion ori internal control and, accordingly, no opinion will be e)Q)ressed in our report on internal control
issu� pursuant to Government Auditing Standards.	.
An audit is not designed to provide assurance on internal control or to identify significant deficiencies or material weaknesses. However, during the audit, we will communicate to management an_d those charged with governance internal control related matters that are required to be corrimunicaied under AICPA professional standards and Government Auditing Standards.

we

Audit Procedures-:--¢ompll;,nce As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement,

we

will perform tests of the . Distri_ct's c;:ompliance with the provisions of applicable laws, rajulations, contracts, agreements, and grants. However, the objective of qur audit will not be to provide ari opinion on overall compliance and will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards,	·
Engagement Admlnisttatlcm, Fees, and Other
We understand that your employees will prepare all confirmations we request and will locate any documents selected by us for testing.
The audit documentation for this engagement i� the property of Grau & Associates and constitutes confidential information. However, subject to applicable laws and regulations, audit documentati_on and appropriate Individuals will

Falcon Trace Community Development District
4

be made available upon request and in a timely manner to a cognizant or oversight agency or its designee, a federal agency providing direct or indirect funding, orthe U.S. Govemment Accountability Officefor purposes ofa quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request If requested, access to such audit documentation will be provided under the supervision of Grau & Associates personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. Notwithstanding the foregoing, the parties acknowledge that various documents reviewed or produced during the conduct of the audit may be public records under Florida law. The District agrees to
notify ·Grau & Associates of any public record request it receives that involves audit documentation.
Our fee for these services will not exceed $3,200 for the September 30, 2018, audit, unless there is a change in activity by the District which results in additional audit work or if Bonds are issued.
The audit documentation for this engagementwill be retained for a minimum of five years after the report release date. If we are aware that a federal awarding agency or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance priorto destroying the audit documentation.
Our Invoices for these fees will be rendered each month aswork progresses and are payable on presentation. Invoices will be submitted in sufficient detail to demonstrate compliance with the terms of this agreement. In accordance with our firm policies, work may be suspended if your account becomes 60 days or more overdue and may not be resumed until.your account is paid in full. If we elect to terminate our services for nonpayment, our er:igagement will be deemed to have J;>een completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for au out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate.
We will provide you with a copy of our most recent external peer review report and any letter of comment, and any subsequent peer review reports and letters of comment received during the period of the contract. Our 2016 peer review report accompanies this letter.
We appreciate the opportunity to be of service to Falcon Trace Community Development District and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us.
Very truly yours, Grau & Associates

Antonio J. Grau

RESPONSE:
This letter correctly setsforth the understanding of Falcon Trace Community Development District.

�:<ii:� <

,	T'

Date: --=.I.-0"-1......1 ,.....,-+l+t�r 	­

__ AICPA).

PEER REVIEW P·ROGRAM
is proud to presentthis
Certificate of Recognition
to

Grau & Assoclate,s
For having a:system· ofquality control fo1dts ·accounting and;aud{ting p.ractlceJn. effectfor the year ended June 30, 2016 Which bas been designed to meet the.requirements ofthe quality control standards
for an accounting and auditing practice established by the AICPA and which was complied with during the year

�µ

then ended to provide the firm with reasonable murance of.conforming with professional.standards.

A/

An/tor Yon#, Chair CPA. lwrRcvkw1ioa,r1
20lf

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ADDENDUM TO ENGAGEMENT LETTER BETWEEN GRAU AND ASSOCIATES AND FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT (DATED AUGUST 13, 2018)

Public Records. Auditor shall, pursuant to and in accordance with Section 1 19.0701, Florida Statutes, comply with the public records laws of the State of Florida, and specifically shall:
Keep and maintain public records required by the District to perform the services or work set forth in this Agreement; and
Upon the request of the District's custodian of public records, provide the District with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 1 19, Florida Statutes, or as otherwise provided by law; and
Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the Agreement if the Auditor does not transfer the records to the District; and
Upon completion of the Agreement, transfer, at no cost to the District, all public records in possession of the Auditor or keep and maintain public records required by the District to perform the service or work provided for in this Agreement. If the Auditor transfers all public records to the District upon completion of the Agreement, the Auditor shall destroy any duplicate public records that are exempt or confidential and exempt from public disclosure requirements. If the Auditor keeps and maintains public records upon completion of the Agreement, �he Auditor shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the District, upon request from the District's custodian of public records, in a format that is compatible with the information technology systems of the District.
Auditor acknowledges that any requests to inspect or copy public records relating to this Agreement must be made directly to the District pursuant to Section 119.0701 (3), Florida Statutes. If notified by the District of a public records request for records not in the possession of the District but in possession of the Auditor, the Auditor shall provide such records to the District or allow the records to be inspected or copied within a reasonable time. Auditor acknowledges that should Auditor fail to provide the public records to the District within a reasonable time, Auditor may be subject to penalties pursuant to Section 119.1 0, Florida Statutes.

IF THE AUDITOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE AUDITOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO TIDS AGREEMENT/CONTRACT, THE AUDITOR MAY CONTACT THE CUSTODIAN OF PUBLIC RECORDS FOR THE DISTRICT AT:
GMS-CF, LLC
135 WEST CENTRAL BLVD., SUITE 320
ORLANDO, FL 32801
TELEPHONE: 407-841-5524 EMAIL: GFLINT@GMSCFL.COM

 g .                 P	

Auditor:  ��

'/ 

Title:	C: �\ )it ..,. )

Date:

u )2v / ( �
I	I

Date:  \DJ 11 I/Jy

SECTION VI11

SECTION 8

SECTION 1

Falcon Trace
Community Development District
Check Register Summary
October 5, 2018 to January 7, 2019

Fund	Date	Check No.'s	A.mount	
General Fund	10/5/18	3784	$	6,124.75	
	10/10/18	3785-3788	$	3,881.22	
	10/23/18	3789	$	175.00	
	10/26/18	3790	$	6,754.66	
	10/30/18
11/6/18	3791
3792-3796	$	880.65
$	4,087.60	
11/15/18	3797-3798	$	6,142.41	
11 /20/18	3799-3800	$	1,850.70	
11/21/18	3801	$	6,588.28	
12/4/18	3802-3804	$	2,469.60	
12/6/18	3805	$	10,447.78	
12/11/ 18	3806-3807	$	900.00	
	12/14/18
12/18/18	3808
3809	$	105,416.66
$	277.70	

12/28/18	3810-3811
1/3/19	3812-3815

$	942.14
$	5,307.59
$	162,246.74

$	162,246.74 I

BANK A FALCON TRACE CDD

AP***30C0HRECK  DATES  10/05/2018  -  01/07/201Y9EA*R*-*TO-DATEFALCACCONUNTTRAS  PCAEYCABDDLE-GPERENPEARALID/CFOUMPNDUTER  CHECK  REGISTER	RUN	1/08/19	PAGE	1

CDBEACTEK    VEND#	 • • DA• • T•DE  NOIINCVEO• I• C• E• •   • YRM, ,EOXPEDNPSTEDATCCOT#. . . SUB    SUBCLASS  VENDOR  NAME 10/05/18  00027	10/01/18  4MAN75  AGEMENT201F8E1B0S-3OC10T-511830 0-34000
10/01/18  4I7N5FORMATI2O0N18'l'10EC3H1-0OC-T5 1800-35100
10/01/18  4D75ISSEMINA20T1ION810l!'B3E1S0-OC13T0180-31400
10/01/18  4O7F5FICE  SU2P0P1l.8I1B0S31 0-51300-51000

STATUS
•
*
*
*

AMOUNT

4, 301. 25
120 .83
83 .33
.42 

AM• • O• U. CNHET  CK• •#• , , 

10/01/18  4P7O5STME  201810  310-51300-42000

*	7. 00

- - -			GOVERNMENTAL  MANAGEMENT  SERVICES-	-	-

10/01/18  4F7I6ELD  MM2AGEMEN01810  T3-2O0C-T513800-12000
-	- - - -	- - - -	- - - - -	- - - - - - - -

- -	DISCLOSURE  SERVICES  LLC-

10/10/18  00101	10/01/18  1AMORT ,   SC2BB0 1D8 1S0230107-51300-49100
-  - - - - - - -  -  - - - - - - - -	- - - -	- - - -
10/10/18   00019	9/18/18   1N2O9T82.O4F50P2Y01198MEE09  T3I1N0G-5D1A3TE00S-48000

1, 611 .92 

- - - -

*	50 .00

•

- - - - -	-
253 . 17

6, 124 .75 003784

50 , 00 003785

ORLANDO SENTINEL
10/10/18  00071	10/01/18  7MTHL2483Y3  POO2L01LA81N0D3S2CAP0-5O3C8T001-847500	*

- - - -- - - - - - - - -2-53-. 17-

-

2,2 55 . 60

003786

REW LANDSCAPE CORP 10/10/18  00022	9/07/1B   3R2P7L3C20MOTO2R018OH09AD3A20L-5IF3T800-47400
9/26/18  3R2P7L5C91SIGH2T01G8LA09SS32A0-SS5E3MB80L0Y-47400

- - - - - - - - - -2-, 25-5-.60

*

862 .45 
460.00

003787

- - - -  - - - - - - - - - - - - - - - - - - - - - - -SP-IES  POOL ,  LLC
10/23/18  00083	10/01/18  7S1PE57C2IAL  D2I0S1T8R1I0CT3 1F0EE-51F3Y001-954 000

*	175 . 00

1,322 .45 003788

- -				GOVERNMENTAL  MANAGEMENT  SERVICES- -	-	- - - -	- - - -

- - - - - - - - - - - - - - - - -  - - - - - - - - - -DB-PARTMEN'l'  OF  ECONOMIC  OPPORTUNITY 10/26/18  00027	10/19/18  4P7OO7  L  ATTEN20D1AN81'l'0S-3OC20T-1583800-12200
- - -	- - - -	- - -	-	- -	- -
10/30/18  00022	10/19/18  3S2UL83FU05R  AC2I0D1/8S1O0DIUM320-B5I3CAR800B-47400

SPIES POOL, I.LC

10/19/18  33228309B6ULK2BLEAC01810H3/D2E0L-I5VE38R0Y0-47400
FALC FALCON TRACE	APEREGRINO

-*- - - - - - - - - - - - -17-5-,00-

6, 754. 66 

- - - - - - -  - - - -6-,75-4-. 66-
♦	344 . 65
*	53 6. 00
- - - - - - - - - - - -88-0 -. 65-

003789

003790

003791

FALCON TRACB CDD -GENERAL FUND

AP**3*0C0HRECK  D�TES  10/05/201B  -  01/07/201YEAR9  **-*TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RUN	1/0B /19	PAGE	2
A
BANK	FALCON  TRACE CDD

- -					AQUATIC  WEED  MAWAGEMENT,   INC .- - - - -	-	- - -	- -	-

CHBDATECK    VEND#	 • • D• A• TE• INVOIICNVEO• I• C• E• •   • YR• •EMXOPENDSPTEDATCOC'r.#. . SUB    SUBCLASS  VENDOR  NAME 11/06/18  00079	10/30/18   1M0T2H7L0Y  LAKE20 1MAB 1IDNT3-200-C5T318  0-47000
-	- - - -	- -	- -	-	- -	-

STATUS
•

AMOlfflT
300 .00

••• •CHECK• • • • • AMOOWI'	#

300 . 00 003792

-

- -	-	-	-	- - - - -

11/06/18  00038	10/1B/18   1ANN286UAL  CD2D0 1F8E1E0  P3Y101-9 51300-49300
- -  -	- - - -  - - - -	- -	- - -	-	ORAN-
11/06/18   00100	11/01/18  4P7O0O7L  MAIN2TE01R8AM11CE3-2R0O-V531800-47400

GB COUNTY PROPERTY APPRAISER

*	902. 00

600 . 00

902 .00 003793

- - - - - - - - - - - - - - - - - - - - - - - - - - -RO-BERTS  POOL  SERVICE  AND  REPAIR  INC	.,
11 /06/18  00071	11 /01/18  7M2T5B0L1Y8  POO2L01LAN811D3SCAP2 0--5N3O8V001-8 47500

2,255 .60

600 .00 003794

11/06/18 00022

REW LANDSCAPE CORP 10/18/18 328181	201811 320-53800-47400

- - - - - - - - - - -2-, 2-55-. 6-0  003795

*

30,00

TANK  RENTAL  FEE-NOVI 8	SPIES  POOL,  LLC
11/15/18   00027	11/01/18  4MANAG78	BHBN2T01PEE811S-3N1O0-V5181300-34 000

- - - - - - - - - -

·•

4,301.25

30 . 00 003796

INFORMATION  !'ECB-ROV  8

11/01/1B 478	201B11 310-51300-35100
11/01/18 478	2 0 1 B 11 3 10-51300-3 1400
DISSBMINATIOH-NOV18
11/01 /18  4O78P!'ICE  SUP2 0P1LBI1E1S310-51300-51000 

•
:Ir
*
*

120 .83
83 .33

11/01/18  4P7OS8  TAGE  201811  310-51300-42000

*	11 .81

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

11/01/1B 478	201811 310-51300-41000 

12 .82

1, 611 .92

-	- - - -  -  - -	TB- LBPBORE	- - - - -	GOVERNMENTAL  MANAGEMENT  SBRVICBS

- - - - - - - - - - -4-, 5-30-.49-

003797

11/15/18  00027	11/01/18  4F7I9ELD  MAN2A0G1E8MER11  T3-2N0-OV5318
J2679n

0-12000
GOVERNMENTAL MANAGEMENT SERVICES

*

*

*	- - -

- - - - - - - -1-, 6-1 1-.92-

003798

SULPUR  ACID/SODIO!'t  BICARB

11/20/18 00022	9/12/18	2 01so9 320-53aoo-t14oo

3 0 0  BULK  BLEACH/DELIVERY

9/12/18 327	5	201809  3 20-53800-47400 

3216S7P0LAS2	H

10/01/18	201810  320-53800-47400
11/07 /18  329119	2B0A1TE8 1R1 Y3/D2E0L-I5VE3BR0Y0-47400

344 . 65
503 . 00
*	307 .95
*	289 .70

SULFUR ACID/SODIUM BICARB
FALC FALCON TRACE	APBREGRINO

AP**300R	YEAR**-TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RON	1/08/19 

PAGE	3

* CHECK DATES 10/05/2018 - 01/07/2019 

*	FALCON TRACE CDD -GENERAL J.l'UND BANR A FALCON TRACE COD

DATE

SPIES POOL, LLC

..

CHECK    VEND#		• • D•A• TE• INVOINVEO. :I.C.E. .   , YRM• •EXOPENDPSETDATCCOT#. . . SUB	SUBCLASS  VENDOR  NAME	STATUS 11/07/18  31299025BUL8	K2BI.BAC01811H3/D2EL0-I5VE38R0Y0-47400

AMOUNT 321 .50

AMO, , •UNT• CHECK• •#• • • 
1,766 . 80 003799

11/20/18 00090	11/12/18 9081976	201811 300-15500-10000
11/12/18  9P0LA81T97IN6UM2M0O1N8I1TO1  R3 I0N0G--15DE5C001-8 10000
SECURITY MONI'l'ORING-DEC18	SAFE TOUCH SECURITY SYSTEMS
11/21/18  00054	11/21/18   1F1Y211920O1RAN8  2G0E18C1TY1  3D00B-2007700-10000

49 .95 
*	33 .95 
6,588.28 

83 .90 003800 

-  - - - -  - - - - - -  - - - - - -  - - - - - -  - - -  -FAL-
12/04 /18  00015	11/27/18  1E0A3S8B8MN4  T/D2E0O1/8A1D0A3/I1N0S-U5R1AN30C0E-31500
11/27/18  1JU03LB8Y4BXPB2N0S1E810  310-51300-31500

N- T-RA-CE- C-DD- C-/0- U-S-BAN- R 	*
•

159 .50
24 .50

6, 588 .28 003801 

184 .00 003 802

HOPPING  GREEN   & SAMS

12/04/18  00071	12/01/18  7M'r25H1L7Y5  POOL2-0-1LAN810D3SC2AP0---5D3E8C001-847-5-00

*
- - - -	-	-

2, 255.60 

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

- - -

- - -

REW-LAN- D-SC-AP-E-CO-RP

- -	- - -	..

30.00 

2,255 .60 003803

SPIES POOL, LLC

12/04/1B   00022	11/18/18  3T2AN96K15RENT2AL018F1B2E3-D2E0C-5138800-47400

4, 32 6.45

30. 00 003804

12/01/18 481	201812 310-51300-34000 

12/06/18  00027	11/27/18  4POOL80 
12/01/1B   4MJUIAGB1

A'l'TB2'NDANT01811S -3N2O0V-5138 B00-12200
EMEWr201F8BB12 B-3D1E0C-5181300-35100

..

4,301 .25
120 . 83

INFORMATI()l{ TECB-DBC18 12/01/1B  4D8I1SSBMINA2T0I1O8N1-2DEC31 01-8 51300-31400
12/01/18 481	201812  310-51300-51000
12/01/18  4O8F1FICE  SU2P0P1LBI1E2S310-513 00-42000
12/01/18  4P8O2STAGE  201812  320-53800-12000 
FJ:ELD MANAGEMEN'l'-DEC18	GOVERNMENTAL MANAGEMENT  SBRVJ:CBS

AQUA-TIC-WEED  MAN- -AGE-

MEN- -T-,   I-NC-.

12/11/1B  00079	12/04/18  1M0T3HL46Y  LAKE201MAnrr811  3-2N0O-V531800-4-70-00	-	- -

*	83.33
*	.24 
*	3.76
l,6ll.92

*	300 .00

10, 447. 78 003805

300 . 00 003806

FALC FALCON TRACE	APEREGRINO

AP*

300R	YEAR-TO-DATE  ACCOUNTS   PAYABLE   PREPAID/COMPUTER CHECK REGISTER	RUH	1/08/19

PAGE	4

**  CHECK  DATES  10/05/2018  -  01/07/2019  ***	BANFALKCONA  TRAFALCOENCDTRACED  -GENCEDRALD	FUND

POOL MAIRTENANCE-DBClB 

CHEDACTEK    VEND#	 • • D• A• TE• INVOIJ:CENVO• I• C•E• •   • Y• RM•EOXPENDSPTEDATCOCT#. . . SOB	SUBCLASS  VENDOR  NAME	STATUS 12/11/18 00100	12/02/18 4772	201812  320-53800-47400			•

PY19  ORANGE  C'l'Y  DS  20 07

ROBERTS POOL SERVICE AND REPAIR INC 12/14/18 00054	12/11/18 1211 20 18 201812 300-	700-10000	*
FALCON TRACE CDD C/O US BANK

ACID/BICARB/CHLOR	SPIES POOL , LLC

12/18/18  00022	11/26/18  32SU9L4F8U5R    201811   320-53800-47400	*
12/28/1B 00079	12/21/18 10413	201812 320-53800-47000	*
KTBLY LUE MAINT-DEC18	AQUATIC WEBD MANAGEMENT, INC .

BOPPING GREEN & SAMS

12/28/18   00015	12/21/18  1E0L4B4C4T7ION2C0HA1 8R1T1/L3ET10-TER513/U0P0-S31500	*

AMOUNT 600 . 00
105,416 . 66

277 .70 

300 .00

642 .14

• • • • CHECK , , , • • 
AMOUNT	#

600 .00 003807

105, 416 .66 003808

277 .70 003809

300 .00 003810

642 .14 003811 

1/03/19   00027	12/28/18   4P83OOL  AT'l'ER2 0D1ANTS812

-3D2E0-C5183800-12200

*	1,886.79 

- - - - - - - - - - - - - - - - - - - - - - - - - -GO-VERBMENTAL  MANAGEMENT  SERVICES	*
1/03/19-0-01-00- -1/-0-2/19-4P-8O5OL-1  -MA-IN-2TEHAN019-01-C3B--2J0AN-5318-00--4-74-00

600 . 00

1,886 .79 003B12 

- - -

-	-	- -

ROBERTS POOL SERVICE AND REPAIR INC	•

600 .00 003813

- - - - - - - - - - - - - - -	-REW-LANDSCAPE  CORP- - - - - -

1/03/19  00071	1/01/19   7MTHL2531Y8  POOL201L9R0D1 SC3AP20E--5JAN38001-9 47500

*

�  - - - - - - - - - -	-	- - - - - -	- - - - -
1/03 /19 00022	12/20/18 330885	201812 320-53800-47400

2,255 . 60

309 . 70

2, 255 .60 003B14

12/20/18  3S3U0L9FUR74

ACID/SODIUM BICARB

*	255 .50

SPIES POOL , LLC

150  BULK2BLEAC01812H3/DEL20-IVE538R0Y0-47400

TOTAL l!'OR BANK A
TOTAL FOR REGISTER

162 ,246 . 74
162,246. 74

565 .20 003 815

PALC FALCON TRACE	APEREGRINO

SECTION 2

•	•	•	•	•	•

'e

V

•

£e.. . •• •• •• .• •."

Fa lcon Trace
Community Development District

U naudited Financia l Reporting December 31, 2018

Governmental Management Services

Table of Contents

1	 	Balance Sheet	

2	 	GeneraI Fund	

3	Debt Service Fund	

4	 	Capital Projects Fund	

5-6	
 	Month to Month	

7	 	Long-Term Debt	
8	 	Assessment Receipt Schedule	

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRI CT
COMBINED BALANCE SH EET
December 31, 2018

Governmenta I Fund

Totals (memorandum only)

Assets

cash - Wells Fa rgo Cash - SunTrust Investments
Custody Account
Due from General Fund Series 2007
Revenue Account

General 

$622,358
----------

$57,814
----------

----------

----------

Debt Service
----------
----------
----------
$220,619

$329,824

Capital  Projects
----------
$237,886
----------
----------
----------

Redemption Account
Cost of Issuance	----------	$1
----------	$26,419	$1
$26,419	
Total Assets	$680,171	$550,444	$264,305		
Liabilities					
Accounts Payable	$2,482			$2,482	
Due to Debt Service	$220,619			$220,619	
Fund Equity					

----------

2019

$622,358
$237,886

$57,814
$220,619

$329,824

Fund Balances Unassigned
Restricted for Debt Service Restricted for Capital Projects

I Liabilities a nd Fund Equity

$457,070
----------
----------

$680, 171

----------
$550,444
----------

$550,444

----------
----------
$264,305

$264,305

$457,070
$550,444
$264,305

$1,494,920

Revenues:

FALCON TRACE
COMMUNITYDEVELOPMENT DISTRICT
GENERAL FUND
Statement of Revenues and Expenditures For Period Ending December 31, 2018
General Fund	Prorated Budget	Actual
Bu  et	Thru 12/31/18	Thru 12/31/18	Variance

($75)

Maintenance Assessments	$355,855	$286,462	$286,462	$0
Miscellaneous Income	$2,000	$500	$425

$286,930

Interest	$0	$0
Total Revenues	$357,855	$286,962
Expenditures;
Administrative:

$43
!$3211

Supervisors Fees	$8,000	$2,000	$0	$2,000
FICA Expense	$612	$153	$0	$153
Engineer	$1,000	$250	$0	$250
Dissemination	$1,000	$250	$250	$0
Assessment Roll	$5,000	$5,000	$5,000	$0
Arbitrage Rebate	$600	$0	$0	$0
Attorney Fees	$15,000	$3,750	$826	$2,924
Annual Audit	$3,200	$0	$0	$0
Trustee Fees	$4,450	$0	$0	$0
Management Fees	$51,615	$12,904	$12,904	($0)
Information Technology	$1,450	$363	$362	$0
Telephone	$50	$13	$13	($0)
Postage	$S00	$125	$23	$102
Printing and Binding	$800	$200	$0	$200
Insurance	$11,800	$11,800	$10,654	$1,146

$300

Legal Advertising	$2,500	$625	$0	$62S

Contingency	$1,200
Property Appraiser	$1,000

$1,000

$232	$68
$902	$98

$175

Office Supplies	$500	$125	$1	$124
Dues, Licenses, Subscriptions	$175	$175	$0
Total Administrative	 	$110,452	$39,032	$31,342	s1,69o I Maintenance·
Field Management	$19,343	$4,836	$4,836	($0)
Property Insurance	$6,870	$6,870	$6,245	$625
Pool Staff Payroll	$76,000	$19,000	$12,968	$6,032
Security	$1,500	$375	$170	$205
Telephone Expense	$2,200	$550	$485	$65
Electric	$18,900	$4,725	$4,369	$356
Irrigation/Water	$13,500	$3,375	$1,176	$2,199
Lake Maintenance	$8,600	$2,150	$900	$1,250
Pest Control	$650	$163	$0	$163
Pool Maintenance	$27,020	$6,755	$4,533	$2,222
G rounds MaIntenanee	$33,000	$8,250	$6,767	$1,483
General Facility Maintenance	$10,000	$2,500	$1,378	$1,122

Refuse Service	$4,800	$1,200	$1,196
Fle)d Contingency	$5,000	$1,250	$0

$1,250

$16,976 1

Transfer Out	$20,019	$0	$0	$0

Total Expenditures	 	$357,855	$101,030	$76,365	$24,665 1	
Excess Revenues (Expenditures)	 	($0)	$210,565	----------1	
Fund Balance - Beginning	$0	$246,505	---------1	

Total Maintenance	$247,403	$61,998	$45,023

$457,070

Fund Balance • Ending	!SDI   	

2

----------1

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
DEBTSERVla 2007
Statement of Revenues & Expenditures For Period Ending December 31, 2018

Adopted	Prorated Budget	Actual		
Bud et	Thru 12/31/18	Thru 12/31/18	Variance	
Revenues:				
Assessments - On Roll	$413,660	$332,624	$332,624	$0	
Interest	$300		$174		
Total Revenues	 	$413,960	$332,699	$332,798		$99 I

Special Call 11/01		$0		$0		$5,000	($5,000) Interest Expense 11/01	$17,663	$17,663	$17,663		$0
Principal Expense 05/01	$385,000	$0	$0	$0
Interest Expense 05/01	$17,663	$0	$0	$0
Total Expenditures	$420,325	$17,663	$22,663	{$5,000)!

Other SOU£B:i IU1e:il
Transfer In (Out)	$0	$0	$20	$20
Excess Revenues (Expenditures)	 	($6,365)	$310,156	

Fund Balance - Beginning	$239,924	$240,289	
Fund Balance - Enclng	$233,559	$550,444	

3

$30

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
CAPITAL PROJECTS FUND
Statement of Revenues & Expenditures For Period Ending December 31, 2018

Revenues:	Adopted	Prorated	Actual
Budget	Thru 12/31/18	Thru 12/31/18	Variance	
Transfer In	$20,019	$0	$0	$0	
Interest	$150	$38	$50	$12	
Total Revenues	 	$20,169	$38	$50		$12 1	
Expenditures:			
Pool Furniture	$10,000	$2,500	$0	$2,500	
Building Renovations	$25,000	$6,250	$0	$6,250	
Total Expenditures
Other Sources (Usesl	 	$35,000	$8,750	$0		$8,750 I	
Transfer In (Out)	$0	$0	($20)	($20)	
Total Other	 $0	$0		!$20)	($20)1	
Excess Revenues (Expenditures)	($14,831)			
				
Fund Balance • Beginning	$234,197	$264,275	 		
Fund Balance • Ending	$219,366	$264,305		

4

!!!l!m!!!ii

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	sep	Total

Maintenance Assessments	$0

$280,788	$0	$0	$0	$0	$0	$0	$0	$0	$0	$286,462

Miscellaneous Income	$300	$0	$125	$0

$0	$0	$0	$0	$0	$0	$0	$425

$43

Interest	$14	$15	$14	$0	so	$0	$0	$0	$0	$0	$0	so

Total Revenues	•	SJ1•

m111m	�	�	�	�	�	Sil	�	�	So	S286,930 I

AdmfnlsUPUYc
Supervisors Fees	$0

$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

FICA Expense	$0

$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

$83

$83

Engineer	$0	$0

$83

Dissemination Agreement

$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
$0	$0	$0	$0	$0	$0	$0	$0	$0	$250

Assessment Roll	$5,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,000

$184

Arbitrage	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

Attorney
Annual Audit	$0

$642	$0	$0	$0	$0	so	$0	$0	so	$0	so	$826
$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	so

Trustee Fees	so	$0	$0	$0	$0	so	$0	$0	so	$0	$0	$0	so
Management Fees	$4,301	$4,301	$4,301	$0	$0	$0	$0	$0	$0	$0	$0	$0	$12,904

Information Technology	$121	$121	$121

$0	$0	$0	$0	$0	$0	$0	$0	$362

$13

$7

Telephone	$0	$13	$0	$0	$0	$0	$0

$0	$0	$0	$0

Postage

$12	$4	$0	$0	$0	$0	$0	$0	$0	$0	$0	$23

Printing and Blndil'@	$0	so	$0	$0	$0	so	$0	$0	$0	$0	$0	$0

Insurance	$10,654	$0

$0	$0	$0	$0	$0	$0	$0	$0	Sl0,654

legal Advertising	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Contingency	$104	$97	$31	$0	$0	$0	$0	so	$0	$0	$0	$0	$232

Property Appraiser	$902

so	$0	$0	$0	$0	$0

so	$0	$0	S902

Office Supplies	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1

Dues, Licenses, Subscriptions

$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

TotalAdmlnfsl7Dtfve	I	$21,532	$5,270	$4,541	$0

$0	so	$0

�o	$0	$0	�31,342 1

5

Malar,,,anc,

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
Oct	fJov	15ec	Jan	Feli	Fitar	�	f;lai	lun	Jul	A!!I	�ee	Total

Field Management	$1,612	$1,612	$1,612	$0	$0	$0	$0	$0	$0	$0	$0	$0
Property Insurance	$6,245	$0	$0	$0	$0	$0	$0	$0	$0	$0	$6,245

Pool Staff Payroll	$6,755

$1,887	$0	$0	$0

$0	$0	$0	$0	$0	$12,968

Security	$86	$0	$84

$0	$0

$0	$0	$0	$0	$0	$170

$500

Telephone Expense		$161		$161		$162	$0	$0	$0	$0	$0	$0	$0	$0	$0	$485 Electric	$1,569	$1,441	$1,359	$0	$0	$0	$0	$0	$0	$0	$0	$0
Irrigation/Water	$354	$322	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,176
Lake Maintenance	$300	$300	$300	$0	$0	$0	$0	$0	$0	$0	$0	$0	$900

$4,533

Pest Control	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Pool Maintenance	$1,789	$1,519	$1,225	$0	$0	$0	$0	$0	$0	$0	$0	$0
Grounds  Maintenance	$2,256	$2,256	$2,256	$0	$0	$0	$0	$0	$0	$0

General Facllity Maintenance	$1,081

$0	$0	$0	$0

$0	$0	$0	$0	$0	$1,378

Refuse Service	$397	$400	$400	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,196

Field Contingency	$0	$0	$0

s22,1so	$12,666	$9,606		$0	$0	$0	$0	$0	$0	$0	$0	$45,023 I	
$441282	$17,936	$14,147		$0	$0	$0	$0	$0	$0	$0	$0	$76,365 1	
jS0,968!	1s12,2411	�266,780	$0	$0	$0	$0	$0	$0	$0	$0	$0	$210,565 1	

Transfer Out	$0	$0	$0
Tata/ Maintenance	I
Total ExpendturM	•
Excess Revenues (Expenditures)	•

$0	$0	$0	$0	$0	$0	$0	$0	$0
$0	$0	$0	$0	$0	$0	$0	$0	$0

6

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT
LONG TERM DEBT REPORT

MATURITY DATE:
RESERVE FUND DEFINITION RESERVE FUND REQUIREMENT RESERVE FUND BAlANCE	5/1/2020
MAXIMUM ANNUAL DEBT SERVICE COVERED BY FINANCIAL GUARANTY INSURANCE POLICY
$0		
BONDS O UTSTANDI NG - 9/30/13 LESS: PRI NCI PAL PAYMENT 5/1/14		
($310,000)	
LESS:  PRINOPALPAYMENT 5/1/15
LESS: PRINCIPAL PAYMENT 5/1/16 LESS: PRI NCI PAL PAYM ENT 5/1/17

LESS: SPECIAL CALL 11/1/18		

($5,000)	
CURRENT BONDS OUTSTANDING		$785,000	

SERIES 2007, SPECIAL ASSESSMENT REFUNDING BONDS

$2,475,000

LESS: PRI NCI PAL PAYMENT 5/1/18

7

FALCON TRACE

439,575

COMMUNITY DEVELOPMENT DISTRICT SPEOALASSESSMENT RECEIPrS • FY2019 TAX COUECTOR
Gross Assessments	$	818,144	$	378,569	$	
Net Assessments	$	769,056	$	355,855	$	413,201
2007	
Date		Gross Assessments	Discounts/	Commissions	Interest	Net Amount	General Fund	Debt Svc Fund	Total	
Received	Dist.#	Received	Penalties	Paid	Income	Received	46.27"		100%	
11/13/18	1	$	7,355.81	$	327.45	$	$	$	7,028.36	$	3,252.14	$	3,776.22	$	7,028.36	
11/19/18	2	$	5,451.96	$	218.10	$	$	$	5,233.86	$	2,421.80	$	2,812.06	$	5,233.86	
12/3/18	3	$	47,181.06	$ 1,887.43	$	$	$ 45,293.63	$	20,958.14	$	24,335.49	$	45,293.63	
12/10/18	4	$	157,198.18	$ 6,288.55	$	$	$ 150,909.63	$	69,828.46	$	81,081.17	$ 150,909.63	
12/17/18	5	$	122,180.14	$ 4,887.69	$	$	231.58	$ 117,524.03	$	54,380.38	$	63,143.65	$ 117,524.03	
12/21/18	6	$	305,309.76	$ 12,213.60	$	$	$ 293,096.16	$	135,620.60	$ 157,475.56	$ 293,096.16	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	
		$	$	$	$	$	$		$	$	

Totals		$
$	644,676.91	$
$ 25,822.82	$	$
$	$	231.58	$
$ 619,085.67	$
s	
286,461.51	$
$ 332,624.16	$
$ 619,085.67	

8

SECTION 3

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT
$4,085,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2007
ARBITRAGE REBATE REQUIREMENT JUNE 30, 2018 

fJ

Grau & Associates
CERTI FIED  PUBLIC ACCOUNTANTS

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

July 30, 2018 

Falcon Trace Community Development District Orange County, Florida

Re:	$4,085,000 Falcon Trace Community Development District (Orange County, Florida)
Special Assessment Refunding Bonds, Series 2007 (the "Bonds")

Falcon Trace Community Development District has requested that we prepare certain computations related to the above-described Bonds for the year ended June 30, 2018 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1 986, as amended ("Code"). You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

In order to prepare these computations, we were provided with the following information: various trust statements and the Official Statement for the Bonds. We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such i nformation. The attached schedules are based upon the aforementioned information provided to us. A brief description of the attached schedules is attached.
The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($1 5,256) for June 30, 201 8. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.
The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate 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. It is understood that these calculations are solely for the information of, and assistance to, the addressee for the purpose of complying with the Code and the Arbitrage Rebate Regulations. Our report is not to be used for any other purpose.

Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES
Summary of Rebate Calculations - Provides a summary of the rebate calculations.

Purpose Expenditures Future Value Report - Verifies the rebate calculation. The report futu re values the purpose expenditures by the arbitrage yield limit to the computation date (June 30, 201 8).

Arbitrage Yield Limit (AYU Verification Report - Verifies the calculation of the arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.

True Interest Cost (TIC) Verification Report - Verifies the calculation of the true interest cost and the gross proceeds. Discounts the debt service schedule by the true interest cost.

Unspent Proceeds Report - Verifies the amount of unspent proceeds. Lists purpose expenditures in chronological order.

I nternal Rate of Return (IRR) Report Via Purpose Expenditures - Verifies the internal rate of return for the investment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Falcon Trace Community Development District
Special Assessment Refunding Bonds, Series 2007 Summary of Rebate Calculations
$ 4 ,085,000.00

Anniversary Date.  . . . . . . . . . .  . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Future- Value Dale. . . . . . . . . . . . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

Arbitrage Yield Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
'fota/ ofPu,pose Expe11ditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
/ntemal Rate ofReturn. . . . . . . . . . . . .  . . . .  . . . . . . . . .  . . . . . .  . . . . . . . .  . . . . . . .
90% ofrebate /ia bili!J. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Full "bate liabili!)'. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainOb 1 16.951 EDB I 07/3012018 i 14:51 I Rpl22
Grau & Associates
Grau & Associates C PAs

Dated: Delivered:

07/01 /2007
07/20/2007

11 /01/2007

06/30/2018 

4.7365179

$4,028,378.32 0.8795100
-$1 3,730.01

-$1 5,255.56

Page	1

Falcon  Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Purpose Expenditures future Value Report	F11ture Va/11ed To:	06/30/2018
$ 4 ,085,000.00

Trall!aclion	Group    Fund	Future Value   Ca/mlalio11 Ami	FV	FV
Date	ID	ID	Descriptiun	Periods	(Int. Earnings)	Pool %	Factur	Amo11nl
7/20/2007	-1	COi	Beg. Arbitrage Gross Proceeds	21 .8888889	-4,052,150.33	1 00.0000000   1 .6691 966	-6,763,835.59
7/20/2007	0	COi	21.8888889	1 05,11 8.00	1 00.0000000  1.6691966	175,462.61
7/20/2007	0	Transferred proceeds	21 .8888889	-621,042.22	I 00.0000000   1 .6691 966	-1,036,641.57
7/2012007	0	UndernTiter's discount and oth	21 .8888889	110,635.27	I 00.0000000 1 .6691966	1 84,672.02
7/20/2007	0	Pmt lo Escrow agent	21 .8888889	4,351,338.27	1 00.0000000 1. 6691966	7,263,239.09
7/30/2007	0	COi	21 .8333333	8,065.00	I00.0000000  J.667027S	13,444.58
8/1/2007	0	COi	21 .8277778	1,000.00	1 00.0000000   1.66681 07	1,666.81
8/23/2007	0	COi	21 .7055556	5,250.00	I 00.0000000 l.662049 1	8,725.76
8/30/2007	0	COi	21 .6666667	4,790.00	1 00.0000000 1.6605369	7,953.97
10/5/2007	0	Interest	21.4722222	609.00	I 00.0000000  1 .6529965	1,006.67
1 0/5/2007	0	COi	21.4722222	367.00	I 00.0000000  1.6529965	606.65
1 1/2/2007	0	Interest	21 .3222222	247.00	I 00.0000000   1.647203 1	406.86
1 1/2/2007	0	COi	21.3222222	122.00	1 00.0000000   1 .6472031 	200.96
1 1/20/2007	0	ln1ercs1	21 .2222222	58,265.00	1 00.0000000   1 .643352 1	95,749.91
12/4/2007	0	COi	21 .l444444	1 13.00	l 00.0000000 1. 640363 1	185.36
1 /3/2008	0	COi	20.9833333	1 17.00	1 00.0000000 1 .634 1 888	191.20
1/29/2008	0	COi	20.8388889	718.00	l 00.0000000 1 .628673 1	1,1 69.39
2/4/2008	0	COi	20.81 11111	109.00	1 00.0000000  1.6276145	177.41
2/1 3/2008	0	COi	20.76l ll ll	1,595.00	1 00.0000000 1 .62571 07	2,593.01
3/4/2008	0	COi	20.6444444	79.00	1 00.0000000 1.6212774	128.08
4/2/2008	0	COi	20.4888889	73.00	I 00.0000000 1.6153850	117 92
5/2/2008	0	COi	20.3222222	62.00	1 00.0000000  1 .6090955	99.76
517/2008	0	Interest	20.2944444	-87,397.00	100.0000000  1.6080497	-140,538.72
5/12/2008	0	Interest	20.2666667	87,397.00	I00.0000000   J.6070045	1 40,447.37
6/3/2008	0	COi	20. 1 500000	61 .00	1 00.0000000  1.602622 1	97.76
7/2/2008	0	COi	19.9888889	55.00	l00.0000000  l.5965900	87.81
8/4/2008	0	COi	19.8 1 ll 111	56.00	1 00.0000000 1 .5899601	89.04
9/3/2008	0	COi	19.6500000	56.00	1 00.0000000   1 .5 839756	88.70
1 0/2/2008	0	COi	19.4888889	54.00	100.0000000  1.5780136	85.21
J 1/3/2008	0	lnlercst	19.3 166667	-82,597.00	1 00.0000000  1 .5716652	-129,814.83
11/3/2008	0	Interest	19.3166667	82,597.00	1 00.0000000   1.5716652	1 29,814.83
1 1/4/2008	0	COi	19.3111111	56.00	1 00.0000000   1.5714608 	88.00
1 2/2/2008	0	COi	19.1 555556	51.00	1 00.0000000   1.565749S	79.85
1/5/2009	0	COi	1 8.9722222	41 .00 l 00.0000000  1.5590450	63.92
2/3/2009	0	COi	1 8.81 66667	29.00	1 00. 0000000   1.5,533788	45.05
3/3/2009	0	COi	IS.6500000	18.00	I 00.0000000  1.5473308	27.85
4/2/2009	0	COi	18.4888889	15.00	100.0000000 1.541 5067	23. 12
5/1/2009	0	Interest	18.3277778	-82,597.00	100.0000000 1 .5357045	-126,844.59
5/1/2009	0	Interest	18.3277778	82,597.00  1 00.0000000  1.5357045	126,844.59
5/4/2009	0	COi	18.3111111	13.00	1 00.0000000  1.5351 056	19.96
6/2/2009	0	COi	18.1555556	12.00    100.0000000  1.5 295264	18.35
7/2/2009	0	COi	17.9888889	1 0.00	1 00.0000000  1.5235712	15.24
8/4/2009	0	COi	1 7.8111111	8.00	100.0000000   1.5 172446	12.14
9/2/2009	0	COi	17.6555556	5.00    I00.0000000  1.511 7303	7.56
1 0/2/2009	0	COi	17.4888889	4.00	100.0000000   1.5058444	6.02

FALCONTS07-2007-A I FY. 1 1 Mun-EaseElevateMainDb 1 16.95f EDB I 07/3012018 1 14:51 I Rpt15a
Grau & Associates
Grau & Associates C PAs

Page	1

Falcon Trace Community Development District	Dated:	07/01 /2007	
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007	
Purpose Expenditures Future Value Report
$ 4,085,000.00		Fnttm Val11td To:	06/30/20 18	
"'Jran1actioll	Gronp   Fund	Future Valm	Calculation Amt	FV	FV	
Date	ID	ID	Description	Periods	(Int. Earnings)	Pool %	Fc1ctQr	AlllOIIIII	
11 /2/2009	0		Interest	17.3222222	-77,597.00	1 00.0000000	1.49998 14 	-1 16,394.06	
11 /2/2009	0		!merest	17.3222222	77,597.00	1 00.0000000	1 .4999814 	116,394.06	
I J/3/2009	0		COi	1 7.31 66667	4.00	1 00.0000000	1 .4997864	6.00	
1 2/2/2009	0		COi	1 7.15 55556	3.00	100.0000000	1.4941413 	4.48	
1/5/20 10 	0		COi	16.9722222	2.00	I00.0000000	1.4877434	2.98	
212120 1D	0		COi	16.8222222	1.00	100.0000000	1.4825291	1 .48	
3/2/2010	0		COi	16.6S55556	1.00	I 00.0000000	1.4767569	1.48	
4/2/2010 	0		COi	16.4888889	1.00	1 00.0000000	l .47!007 1	1 .47	
5/3/2010 	0		lniercst	16.31 66667	-77,597.00	1 00.0000000	1.4650893	-1 13,686.53	
5/3/2010	0		Interest	16.31 66667	77,597.00	I 00.0000000	1.4650893	11 3,686.53	
5/4/2010 	0		COi	16.3111 111 	1.00	100.0000000	1.4648988	1 .46	
6/2/2010 	0		COi	16.1 555556	2.00	1 00.0000000	1.4595748	2.92	
7/2120 10 	0		COi	IS.9888889	2.00	100.0000000	1.4538919 	2.9 1	
8/312010	0		COi	1 5.81 66667	3.00	1 00.0000000	1.4480429	4.34	
9/2/20 10 	0		COi	IS.6SS5S56	4.00	1 00.0000000	1.4425925	5.77	
10/4/2010 	0		COi	15.4777778	3.00	1 00.0000000	1.4366022		
1 111/2010 	0		Interest	15.3277778	-72,397.00	I 00.0000000	1.4315671	-103,641.17 	
11 /1/2010 	0		Interest	15.3277778	72,397.00	I 00.0000000	1.431 5671	103,641.17 	
11 /212010 	0		COi	153222222	2.00	100.0000000	1 .4313810 	2.86	
1 2/2/2010	0		COi	15.1 555556	2.00	1 00.0000000	1 .4258079	2.85	
1 /4120 11 	0		COi	14.9777778	2.00	1 00.0000000	1 .4 198872	2.84	
2121201 1	0		COi	14.8222222	2.00	1 00.0000000	1 .4 147268	2.83	
312/20 11 	0		COi	14.6555556	1.00	1 00.0000000	1 .4092 186	1.41 	
414/20 11 	0		COi	14.4777778	1.00	I 00.0000000	1.4033668	1.40	
512/20 11 	0		Interest	14.3222222	-72,397.00	1 00.0000000	1.3982664	·IO 1,230.29	
5/2/2011 	0		Interest	14.3222222	72,397.00	1 00.0000000	1 .3982664	IOl,230.29	
5/3/20 11 	0		COi	14.31 66667	1.00	1 00.0000000	1 .3980846	1.40	
6/2/20 11 	0		COi	14.1 555556	1.00	100.0000000	1 .3928223	1.39	
715120 11 	0		COi	13.9722222	1.00	1 00.0000000	1 .3868582	1.39	
812/20 11 	0		COi	1 3.8222222	1.00	100.0000000	1 .3819975	1.38	
9/2/20 11 	0		COi	13.6555556	1.00	1 00.0000000	1 .3766168	1.38	
1014/201 1	0		COi	13.4777778	1.00	100.0000000	1 .3709003	1.37	
11 /1/2011 	0		Interest	13.3277778	-66,725.00	100.0000000	1 .3660956	-9 1,1 52.73	
1 1/1/201 1	0		Interest	13.3277778	66,725.00	100.0000000	1.3660956	91 , 152.73	
1 1/2/20 11 	0		COi	13.3222222	1 .00	100.0000000	1 .3659179	1 .37	
1212/2011 	0		COi	13.1 5555.56	1.00	1 00.0000000	1.3605998	1 .36	
1/4/20 12 	0		COi	1 2.9777778	1.00	I 00.0000000	1 .3549499	1 .35	
2/2/20 12 	0		COi	1 2.8222222	1.00	100.0000000	1.3500254	1 .35	
3/2/20 12 	0		COi	12.6555556	1.00	100.0000000	1.3447691	1.34	
4/3/20 12 	0		COi	1 2.4833333	2 00	1 00.0000000	1 .3393591	2.68	
5/112012 	0		Interest	1 2.3277778	-66,725.00	I 00.0000000	1 .3344914 	-89,043.94	
5/1 /20 12 	0		Interest	12.3277778	66,725.00	1 00.0000000	1.3344914 	89, 043.94	
5/2/2012 	0		COi	12 3222222	2.00	100.0000000	1.33431 78	i.61	
6/4120 12 	0		COi	12. 1444444	2.00	100.0000000	1 .3287771	2.66	
7/312012	0		COi	1 1 .9833333	2.00	1 00.0000000	1.3237756	2.65	

FALCONTS07-20D7-A I FY: 1 I Mun-EaseElevateMainDb I 16.95I EDB I 07130/2018 I 14:51 I Rpt15a
Grau & Associates
Grau & Associates C PAs

Page	2

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Purpose Expenditures Future Value Report	F11t11rt Va/11td To:	06/30/2018
$ 4,085,000.00

Transa,tion	Gro11p   Fund	Fu111re Value   Caku/ation Ami	FV	FV
Date	ID	lD	Descriptio11	PeriodJ	([111. E11mi1Jg1)	Pool %	Fat'tor	Amo1111t
8/2/2012	0	COi	11 .8222222	2.00	l 00.0000000   1.3 187930	2.64
9/5/2012	0	COi	11 .6388889	1.00	1 00.0000000   1.3 131459	1.31
1 0/212012	0	COi	11 .4888889	1 .00	1 00.0000000  1.3085436	1.3 1
I 1 12/2012	0	COi	11 .3222222	2.00	1 00.0000000   1.3034488	2.61
12/4/2012	u	COi	11. 1 444444	1.00	1 00.0000000   1 .2980362	1.30
1 /312013	0	COi	1 0.9833333	1.00	I 00.0000000   1.2931 505	1.29
6/312014	0	COi	8.1 500000	3.00	I 00.0000000   1.2101 726	3.63
612/20 15	20 15	COi	6.1 S55S56	4.00	I 00.0000000   1.1 549766	4.62
7/1 5/2015	2016	COi	5.91 66667	I.OD	l00.0000000   1.1485365	1.15 
8/412015	2016	COi	5.81 11111	I.OD	1 00.0000000   1.1457023	1.15 
9/2/2015	2016	COi	5.6555556	I.OD	1 00.0000000   1.1415384	1.14 
1 0/2/20 15	2016	COi	5.4888889	I.OD	I 00.0000000   1.1 370938	1.14 
11 /3/2015	2016	COi	5.3 166667	1.00	I 00.0000000   1.1 325 193	1.13
12/2/2015	2016	COi	5. 1 S55556	I.OD	1 00.0000000    1.1282565	1.13
1 /5/20 16	2016	COi	4.9722222	3.00	I 00.0000000	1.1 234253
2/2/2016	2016	COi	4.8222222	5.00	1 00.0000000    1.1 194879 	5.60
3/2/2016	2016	COi	4.6555556	6.00	1 00.0000000   1.1 151292	6.69
4/2/2016	2016	COi	4.4888889	7.00	1 00.0000000   1.11 07875	7.78
5/3/20 16	2016	COi	4.3 1 66667	7.00	1 00.0000000   1. 1063188	7.74
6/2/20 16	2016	COi	4.1 S55556	7.00	1 00.0000000   1.1 021 S47	7.72
7/5/20 16	201 7	COi	3.9722222	6.00	1 00.0000000   1.0974352	6.58
8/2/20 16	2017	COi	3.8222222	5.00	1 00.0000000   1.0935889	5.47
9/2/20 16	2017	COi	3.6555556	5.00	I 00.0000000   1.08933 10	5.45
1 0/4/20 16	20 17	COi	3.4777778	2.00	1 00.0000000   1.0848076	2. 17
11 /212016	2017	COi	3.3222222	2.00	100.0000000   1.0808650	2.16
1 2/2/2016	2017	COi	3.1 555556	2.00	1 00.0000000   1 .0766566	2.15
1/4/2017	201 7	COi	2.9777778	2.00	1 0().0000000   1 .0721858	2.14
2/2/201 7	20 17	COi	2.8222222	3.00	100.0000000   1.0682891	3.20
3/2/20 17	2017	COi	2.6555556	3.00	1 00.0000000   1 .0641297	3.19 
4/4/2017	20 17	COi	2.4777778	3.00	1 00.0000000   1 .0597 1 09	3.18 
5/212017	2017	COi	2.3222222	4.00	l00.0000000   1 .0558595	4.22
6/212017	2017	COi	2. 1555556	4.00	100.0000000   1 .05 1 7485	4.21
7/5/2017	2018	COi	1.9722222	4.00	100.0000000   1 .0472449	4.19
8/2/20 17	20 18	COi	1.8222222	4.00	I 00.0000000  1 .0435745	4.1 7
91512017	20 18	COi	1 .6388889	4.00	1 00.0000000   1.039 1 059	4.16
1 0/3/20 17	2018	COi	1 .4833333	4.00	100.0000000   1 .0353294	4.14 
I 1/2/201 7	2018	COi	1.3222222	4.00	1 00.0000000   1.0314325	4.13
1 2/4/2017	2018	COi	).1 444444	4.00	l 00.0000000  1 .0271 495	4.1 1
1/3/201 8	2018	COi	0.9833333	4.00	1 00.0000000   1.0232833	4.09
2/212018	2018	COi	0.8222222	4.00	1 00.0000000   1.01943 17	4.08
3/212018	20 18	COi	0.6555S56	4.00	1 00 .0000000	1.0154626
4/3/2018	20 18	COi	0.4833333	4.00	100.0000000 1.01 13774	4.05

5.04

5/2120 18	2018	COi	0.3222222	5.00	l00.0000000	1.0075706
614/20 18	20 18	COi	0.1 444444	6.00	100.0000000   1.0033867	6.02
6/30120 18	-I	Unspent Proceeds us of 06/30/201 8	0.0000000	26,419.00	100.0000000  1.0000000	26,419.00

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainDb I 16.95f EDB I 07/30/2018 1 14:51 I Rpt1 Sa
Grau & Associates
Grau & Associates C PAs	Pc1ge	3

Falcon Trace Community Development District	Dated:	07/01 /2007	
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007	

Purpose Expenditures Future Value Report
S 4,085,000.00

F"''"' Vahttd To:	06/30/2018

Date	ID	ID	Description	Periods	(Int. Eami11gs)	Pool ¾	r,utor	At1101111t	
					2,646.99			-15,255.56	

Transaction

Group Fl(Jtd	Future Value C.alculation An1t

FV	FV

Arbitrage YieldLimit (AYL) .. .. .......... .	4.7365179	
h1ternal Rate ofReturn (IRR) . ...... ...... 	0.8795100	
Future Valued To.. ....... ...... ......... .	6/30/2018 	

FALCONTS07-2007-A I FY: 1 1 Mun-EaseElevateMainDb I 16.95f EDB I 07130/201 8 I 14:51 I Rpt1Sa
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Page	4

Falcon Trace Community Development District
Special Assessment Refunding Bonds, Series .2007
A.Y.L Verification Report
4,085,000.00

Dated:	07/01 /2007
Delivered:	07/20/2007

MSRB 301360 SEMI 4/J

Period	Coupon Dale	Principal Pqy111ent	Co11po11
Rate	lttteresl Pqpnenl	Crtd Enh./ Si11ki11g Fund Adj	Periodic Debt Seroice	Pme11t Va/11e
Fador	Di.r.-01111/ed
Debt Smice	
I	I 1 /01/2007			58,264.60		58,264.60	0.9869522	57,504.3 8	
2	05/0 1/2008	240,000.00	4.000	87,396.87		327,396.87	0.9641194	315,649.67	
3	1 1/01/2008			82,596.87		82,596.87	0.941 8148 	77.�0.95	
4	05/01 /2009	250,000.00	4.000	82,596.87		332,596.87	0.9200262	305,997.82	
5	1 1/01/2009			77,596.87		77,596.87	0.8987416 	69,739.54	
6	05/01/2010	260,000.00	4.000	77,596.87		337,596.87	0.8779495	296,393.01	
7	11 /01 /2010			72,396.87		72,396.87	0.8576384	62,09034	
8	05/01/2011 	275,000.00	4. 125	72,396.87		347,396.87	0.8377972	291,048. 13 	
9	11 /01/201 1			66,724.99		66,724.99	0.8 1841 50	54,608.73	
10 	05/01/2012 	285,000.00	4.125	66,724.99		351,724.99	0.79948 12 	281, 197.53	
11 	1 1/01/2012 			60,846.87		60,846.87	0.7809855	47,520.52	
12 	05/01/2013 	295,000.00	-1 .250	60,846.87		355,846.87	0.7629176	271 ,481.84	
13 	1 1/01/2013 			54,578.12 		54,578.12 	0.7452677	40,675.3 1	
14 	05/01/20 14 	310,000.00	4.250	54,578. 12 		364,578. 12	0.7280262	265,422.42	
15 	1 1/01/2014 			47,990.62		47,990.62	0. 7111 835	34, 130. 14 	
16 	05/0 1/2015 	325,000.00	4.250	47,990.62		372,990.62	0.6947305	259, 127.96	
17 	11/01 /20 15 			41 ,084.37		41,084.37	0.6786581 	27,882.24	
18 	05/0 1/2016	335,000.00		41,084.37		376,084.37	0.6629576	249,327.98	
19 	1 1/01 /2016 			33,756.25		33,756.25	0.6476203	21 ,861.23	
20	05/01/2017 	350,000.00		33,756.25		383,756.25	0.6326378	242,778.69	
21 	1 1/0 1/20 17 			26, 100.00		26, 100.00	0.6180019 	16,1 29.85	
22	05/01/2018 	370,000.00	4.500	26,1 00.00		396, 100.00	0.6037046	239, 127.38	
23	I 1/01/2018 			17,775.00		17,775 .00	0.5897381 	10,482.59	
24	05/01/20 19 	385,000.00	4.500	17,775.00		402,775.00	0.5760946	232,036.52	
25	I 1/01/2019			9, 1 12.50		9, 112.50	0.5627669	5,128.2 1	
26	05/01/2020	405,000.00	4.500	9, 112.50		41 4,11 2.50	0.5497474	227,657.28	
		4,085,000.00		1,326,780.13 	0.00	5,411,780.13		4,002,790.28	

True Interest Cost ([IC). . . . . .   . . .	. . . 
Ner lnteres1 Cos1 (NIC)... .. ........ .. 
Arbitrage Yield limit (AYL) ... . . . . . . . . . . . .
Arbiirage Net lnteres/ Cost (ANIC).

4.7864550
4.7083762
4.7365179
4.7364961

Face value ofbond Issue. . . . . . . . . . .  .. 
Accmed interest (-) . . .	' ' . . . . . . . . 
Original issue premium/discount (+). . . . . .  
Bond suretyfee (·). . . . . . . . . . . . . . . . . . . . .
L11mp-si1m credit e11hancements (•). . . . • . . . 
Other AYL costs (·) ... . .......... ... . .. 

$4,085,000.00
$9,225.24 ($42,074.90)
$49,360.00
$0.00

 	AYL Target	$4,002,790.34

FALCONTS07-2007-A I FY 1 1 Mun-EaseElevateMainDb I 16.95f EOB I 07/30/2018 I 14:55 I Rpt01 h
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G rau & Associates C PAs	Page	1

Falcon Trace Community Development District Special Assessment Refunding Bonds, Series 2007

MSRB JO/360 SEMI �/J

T.I.C. Verification Reoort (Regular)
4,085,000.00

Datld:
Dr/iltrtd:

7/ 1 /2()()7
7/20/2()()1

4.375

5,097.59

Period	Coupon
Date	Principal
P<!]•mmt	Co11pon
Rate	Interest
Paymmt	Credit
E11hancemen/I	Periodit
Debt Servia	Present Vah,e
Factor	Disco1111ted
Debt Seroia	
I	11/1/2007			58,264.60		58,264.60	0.9868 1 72	57,496.5 1	
2	5/1 12008	240,000.00	4.000	87,396.87		327,396.87	0.963 7524	31 5,529.5 1	
3	1 1/1/2008			82,596.87		82,596.87	0.9412267	77,742.38	
4	5/1 /2009	250,000.00	4.000	82,596.87		332,596.87	0.9192275	305,732.18 	
5	1 1/1 /2009			77,596.87		77,596.87	0.8977425	69,662.01	
6	5/1/2010 	260,000.00	4.000	77,596. 87		337,596.87	0.8767S96	295,99130	
7	1 1/1 /20 10 			72,396.87		72,396.87	0.8562672	61,991 .06	
8	5/1/2011 	275,000.00	4.125	72,396.87		347,396.87	0.8362537	290,5 11.93	
9	1 1/1/2011 			66,724.99		66,724.99	0.816708 1	54,494.84	
10 	5/1/2012	285,000.00	4.125	66,724.99		35 1 ,724.99	0.7976192	280,542.61	
11 	1 1/1 /20 12 			60,846:87		60,846.87	0.778976S	47,398.28	
12 	5/ 1/20 13 	295,000.00	4.250	60,846.87		355,846.87	0.7607696	270,717.47	
13 	11/1 /20 13 			54,578.12 		54,578. 12 	0.7429882	40,550.89	
14 	511/20 14 	3 10,000.00	4.250	54,578. 12 		364,578. 12 	0.7256224	264,546.05	
15 	1 1/1 /2014 			47,990.62		47,990.62	0. 7086625	34,009. 15 	
16 	5/ 1 /20 15 	325,000.00	4.250	47,990.62		372,990.62	0.6920990	258,146.43	
17 	11 /1/2015 			41 ,084.37		41 ,084.37	0.6759226	27,769.85	
18 	5/1 /20 16 	335,000.00		41 ,084.37		376,084.37	0.6601243	248,262.45	
19 	I 1/1/2016			33,756.25		33,756.25	0. 6446953	21,762.50	
20	5/ 1/2017 	350,000.00		33,756.25		383,756.25	0.6296269	24 1,623.26	
21 	1 1/1 /2017 			26, 100.00		26, 1 00.00	0.6149107	16,049. 17 	
22	5/ 1 /20 18 	370,000.00	4.500	26, 100.00		396, 100.00	0.6005384	237,873.28	
23	1 1/1/2018			1 7,775.00		17 ,775 .00	0. 5865021	10,425.08	
24	5/1 /2019	385,000.00	4.500	1 7,775.00		402,775.00	0.5727939	230,707.04	
	I 1/1/2019 			9,1 12.50		9, 1 1 2.50	0.5594060		
26	5/ 1/2020	405,000.00	4.500	9,1 1 2.50		414,112.50	0.546331 1	226,242.52	
		4,085,000, 00		1,326, 780.13	0. 00	5,41/, 780. 13		3,990,815.33	

Tme Interest Cost (TIC)	4.7864550
Nel Interest Cost (NIC). ... , .. .. .	4.7083762
hbllrage l'ield limit (A YL)	4.7365179
Arbitrage Net Interest Cos/ (ANIC)	4.7364961

Face value ofbond Issue..	. . . . . . . . .
Accn,ed interes1 (-) ..... . . . . . . . . . . . '  . .
Original issue premium/discount (·) ...... 
Underwriter discount (�)  ..... .......... 
lump-.,um credit enhancements (·) ........ 
Other TIC costs (·) . . '  .. ...... ......... 

= TIC Target ..  .. ....	.

Bond suretyfee (-) , ... ........ ..... . ... 

$4,085,000.00
$9,225.24 ($42,074.90)
($61,276.00)
$0.00

NIA
$3,990,875.34

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainOb 1 1 6.951 EOB I 07130/2018 I 1-4:56 I Rpt01a 
Grau & Associates	Page	1
Grau & Associates C PAs

Falcon Trace Community Development District
Special Assessment Refunding Bonds, Series 2007 Unspent Proceeds Report
$ 4,085,000.00
Cak	G,p	Fund	Gro,J

Dated:	07/01 /2007
Delivered:	07/20/2007

Pool	Nonpu,pose	Pu,po!e	U11sptnt

Date	ID	Pr,,p	ID	Dmnplio11	Amount	Perrtntage	I11veslmmt	ExpmditHm	Proaeds	
07/20/2007	-1	N	COi	Beg. Alt>itrage Gross Proceeds		I 00.0000000			4,052,150.33	
07/20/2007	0	y		COi	105, 118.00	I 00.0000000		IOS,118.00	3,947,032.33	
07/20/2007	0	y		Transferred proceeds	-621 ,042.22	I00.0000000		-621 ,042.22	4,568,074.55	
0712012007	0	y		Underwriter's discounl and Olh	1 10,635.27	100.0000000		11 0,635.27	4,457,439.28	
07/2012007	0	y		Pmt 10 Escrow agent	4,351 ,338.27	100.0000000		4,351 ,338.27	106,101.01	
07/30/2007	0	y		COi	8,065.00	100.0000000		&,065.00	98,036.01	
OSiO l/2007	0	y		COi	1,000.00	I00.0000000		1 ,000.00	97,036.0 1	
08/23/2007	0	y		COi	5,250.00	100.0000000		5,250.00	91 ,786.01	
O&/J0/2007	0	y		COi	4,790.00	100.0000000		4,790.00	86,996.01	
l010512007	0	y		
Interest	609.00	I 00.0000000		609.00	86,381.01	
10/05/2007	0	y		COi	367.00	1 00.0000000		367.00	86,020.01	
11 10212007	0	y		lntereSI	247.00	I 00.0000000		247.00	85,773.01	
11 /02/2007	0	y		COi	1 22.00	I 00.0000000		122.00	85,651.01	
ll /2012007	0	y		Interest	58,265.00	I00.0000000		58,265.00	27,386.01	
12i0412007	0	y		COi	113.00	I 00.0000000		113.00	27,273.01	
01/0312008	0	y		COi	117.00	I 00.0000000		117.00	27,156.01	
01 /29/2008	0	y		COi	71 8.00	I00.0000000		71&.00	26,438.01	
02/04/2008	
0	y		COi	1 09.00	I 00.0000000		109.00	26,329.01	
02/1 3/2008	0	y		COi	1,595.00	I 00.0000000		1,595.00	24,734.01	
03/04/2008	0	y		COi	79.00	100.0000000		79.00	24,655.0 1	
04/0212008	0	y		COi	73.00	100.0000000		73.00	24,582.01	
OS/02/200&	0	y		COi	62.00	I00.0000000		62.00	24,520.01	
05107/2008	0	y		!nteresl	-87,397.00	100.0000000		-87,397.00	11 1,917.01	
OS/12/2008	0	y		Interest	87,397.00	100.0000000		87,397.00	24,52001	
OMll/2008	0	y		COi	61 .00	I 00.0000000		61 .00	24,459.01	
07/02/2008	0	y		COi	55.00	I 00.0000000		55.00	24,404.01	
08/04/2008	0	y		COi	56.00	I00.0000000		56.00	24,348.01	

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainDb 1 16.951 EDB I 07/30/2018 j 14:51 I Rpl11
G rau & Associates
Grau & Associates C PAs	Page	1

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Unspent Proceeds Report
$ 4,085,000.00

Cale Date	G,p
lD	
P11,p	F,1111I ID	
Descriptio11	Gross Amo1111/	Pool P,r,mlag,	No11p111pose	P11,po.re	U11spen1
/11n.rlmenl	Expemlit11re.r  	Prrxur   /   J 	
09i03l2008	0	y	COi	56.00	100.0000000	S6.00	24,292.01	

1 0,021200s	
0	y	
COi	54.00	I 00.0000000	
54.00	
24,238.01	

11 ,0312008	
0	y	Interest	
-82,597.00	
I 00.0000000	
-82,597.00	
106,835.01	
11 /0312008	0	y	Interest	82,597.00	100.0000001)	82,597.00	24,238.01	
]] ,'0412008	0	y	COi	56.00	I 00.0000000	56.00	24,1 82.01	

12,02/2008	
0	y	
COi	
51 .00	
I 00.0000000	
51 .00	
24,131 .01	

OJ ,OS/2009	
0	y	
COi	41.00	I 00.0000000	
41 .00	
24,090.01	

02/0312009	
0	y	
COi	
29.00	l 00.0000000	
29.00	
24.06 1.01	

o;,03,2009	
0	y	
COi	
18.00	I 00.0000000	
18.00	
24,043.01	

0410212009	
0	y	
COi	
15.00	
I 00.0000000	
1 5.00	
24,028.01	

OSiOl/2009	
0	y	
Interest	82,597.00	I00.0000000	
82,597.00	
24,028.01	
0510112009	0	y	Interest	-82,597.00	I000000000	-82,597.00	106,625.01	

05!0412009	
0	y	
COi	13 .00	
I 00.0000000	
13.00	
24,01 5.01	

06102/2009	0	y	
COi	12.00	I 00.0000000	
12.00	
24,003.01	

07:0212009	
0	y	
COi	
10.00	
I00.0000000	
1 0.00	
23,993.01	

08i04t2009	
0	y	
COi	
8.00	
I 00.0000000	
8.00	
23,985.01	

09102/2009	
0	y	
COi	
5.00	
I 00.0000000	
5.00	
23,980.01	

1 0/0212009	
0	y	
COi	4.00	
1 00.0000000	
4.00	
23,976.01	

1 1102/2009	
0	
y	Interest	
77,597.00	
I00.0000000	
77,597.00	
-S3,620.99	
I 1 10212009	0	y	lnreres.t	-77,597.00	100.0000000	-77,597.00	23,976.01	
l l;o3,'2009	0	y	COi	4.00	I00.0000000	4.00	23,972.01	

1 2/0212009	
0	y	
CO!	
3.00	
I00.0000000	J.00	
23,969.01	

01 ,os12010	
0	y	
COi	
2.00	I00.0000000	
2.00	
23,967.01	

02/02/20 10	
0	y	
COi	
1 .00	
I00.0000000	
I 00	
23,966.01 	

03.'0212010	
0	y	
COi	
1 .00	
1 00.0000000	
1.00	
23,965.01	

04/0212010	0	y	COi	
1 .00	
I 00.0000000	
1 .00	
23,964.01	

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainOb 1 16.951 EDB I 07/30/2018 I 14:51 I Rpt11
Grau & Associates
G rau & Associates C PAs 

Page	2

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Ref�nding Bonds, Series 2007	Delivered	07/20/2007
Unspent Proceeds Report
$ 4,085,000.00

Cale	G,p
Date	lD	P11,p	F11nd
ID	
Dtstriplion	Gros1 A,no,1111	Pool
Perrewlage	No11p11,pos1
lllvutnm1I	Pt1,pose
Expt11dit11m	U111pe11t
Proueds	
05/0312010 	0	y	Interest	-77,591.00	I00.0000000	-77,597.00	101,561.01	
OS/0312010 	0	y	Interest	77,597.00	100.0000000	77,597.00	23,964.01	
05104120 10 	0	y	COi	1.00	I00.0000000	1 .00	23,963.01	
06/02120 )0 	0	y	COi	2.00	100.0000000	2.00	23,961.0]	
07102/2010	0	y	COi	2.00	100.0000000	2.00	23,959.01	
08103/2010	0	y	COi	3.00	1 00.0000000	3.00	23,956.01	
09/02120 10	0	y	COi	4.00	100.0000000		23,952.0 I	
)0/0412010 	0	y	COi	3 00	I00.0000000		23,949.0 1	
1 1/01 /2010	0	
y	Interest	-12,397.00	I00.0000000	-72,397.00	96,346.01	
11 /01/2010	0	y	Interest	72,397.00	) 00.0000000	72,397.00	23,949.01	
11/0212010	0	y	COi	2.00	I00.0000000	2.00	23,947.01	
]2i02l2010	0	y	COi	2.00	I00.0000000	2.00	23,945.01	
0(1041201 1	0	y	COi	2.00	100 .0000000	2.00	23,943.0 1	
021021201 1	0	y	COi	2.00	I00.0000000	2.00	23,941.01	
03/02/2011 	0	y	COi	1 .00	100,0000000	1 .00	23,940.01	
04104/201) 	0	y	COi	1 .00	I00.0000000	1 .00	23,939.01	
OS/0212011 	
0	y	Interest	•72,397.00	100.0000000	-72,397.00	96,336.01	
OS/02/2011	0	y	Interest	72,397.00	100.0000000	72,397.00	23,939.0)	
OS/031201 1	0	y	COi	1.00	I 00.0000000	1 .00	23,938.01	
06102/2011 	0	y	COi	1.00	I00.0000000	1 .00	23,937.01	
07/05/201 I	0	y	COi	1.00	100.0000000	1 .00	23,936.01	
08/021201 I	0	y	COi	1 .00	100.0000000	1 .00	23,935.01	
09/02/2011 	0	
y	COi	1 .00	100.0000000	1.00	23,93�.0I	
) 010412011 	0	y	COi	1 .00	100.0000000	
1.00	23,933.01	
11/0112011	0	y	Interest	-66,725.00	100.0000000	-66,725 .00	90,658.01	
1 1/0112011 	0	y	Interest	66,725.00	l00.0000000	66,725.00	23,933.01	
11/0212011 	0	y	COi	1.00	100.0000000	1 .00	23,932.0)	
)2102/2011 	0	
y	COi	1 .00	I00.0000000	1 .00	23,931.01	

FALCONTS07-2007-A I FY: 1 I Mun-EeseEleveteMainDb ( 16.95f EDB I 07/30/2018 ( 14:51 I Rpt1 1
Grau & Associates
Grau & Associates C PAs	Pogc	3

Falcon Trace Community Development District	Dated:	07/01 /2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Unspent Proceeds Report
$ 4,085,000.00

Cale Datt	Gip
ID	
P11,p	Fm1d
ID	
Descriplio11	Gross
Amo1mt	Pool
Percentage	�•011p11,pose
lnves/menf	P"'l>Ose	U11spmt
Expenditures	Proceeds	
Oli04i20 12 	0	y	COi	1.00	I00_0000000	
1.00	
23,930_01	
02/02/2012 	0	y	COT	LOO	100_0000000	1.00	23,929_01	
03!0212012	0	y	COi	1 .00	100.0000000	1.00	23,928_0I	
04!0312012	0	y	COi	
2.00	1 00.0000000	2.00	23,926.01	
05;01,'2012 	0	y	
ln1eres1	-66,725.00	I 00_0000000	-66.725.00	90,651 .01 	
05/0 1/2012	0	y	lnteresl	66,725.00	1 00_0000000	66,725.00	H,926.01	
05i0212012 	0	y	COi	2-00	100.0000000	2.00	23.924_01	
06/04/2012 	0	y	COi	200	100.0000000	2.00	23,922.01	
07/0312012 	0	y	COi	
2-()()	I00.0000000	2_00	23,920.01	
08102120 12 	0	y	COi	2.00	100.0000000	2.00	23,918.01	
09i05i20 12 	0	y	COi	I.OD	100.0000000	1 .00	23,91 7.01	
J 0102i20 l2 	0	y	COi	1.00	I 00.0000000	1.00	23,916.01	
I V021201 2	0	y	COi	2.00	100.0000000	2.00	23,914.IJI	
1 210412012 	0	y	COi	1 .00	I 00.0000000	1.00	23,913.01	
01 103/201 3	0	y	COi	1 .00	100.0000000	1 .00	23,912.01	
06103120 14	0	y	COi	3.00	I 00.0000000		23,909.01	
0610212015 	2015 	y	COi	4-00	I 00.0000000	4.00	23,905.01	
07;1 5120 15 	2016	y	COi	1.00	100.0000000	1 .00	23,904.01	
08!041201 5	2016	y	COi	1 .00	I 00_0000000	I.DO	23,903.01	
09!0212015	2016	y	COi	1.00	I 00.0000000	1.00	23,902.01	
l 0!02i20 l5 	2016	y	COi	1 .00	I 00.0000000	1.00	23,901 .01	
11/03,2015 	2016	y	COi	1.00	100.0000000	1.00	23,900.01	
12102120 15 	2016	y	COi	1 .00	100.0000000	1.00	23,899.01	
01/05,2016	2016	y	COi	3_00	100.0000000	3.00	23,896.01	

3.00

FALCONTSD7-2007-A I FY: 1 I Mun-EaseElevateMalnDb 1 16.951 EDB I 07/30/2018 1 14:51 I Rpt11
Grau & Associates
Grau & Associates C PAs	Page	4

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Unspent Proceeds Report
$ 4,085,000.00

Cale	Grp	F,md		Gross	Pool	l\fo11p1upo1t	P1t,Poll	Unspent	
Dale	ID	P11,p	1D		Description	Arno1111I	Peru11lage	[1111estm,11/	Expmdit11m	Proetefls	
02i02i201 6	2016 y		COi	5.00	I 00.0000000			23,891.01	
03/02/2016	2016 y		
COi	6.00	I 00.0000000		6.00	23,885.01	
04102!2016	2016 y		
COi	7.00	100.0000000		7.00	23,878.01	
0Si0312016	2016 y		
COi	7.00	I 00.0000000			23,871.01	
06/0212016	2016 y		
COi	7.00	1 00.0000000		7.00	23,864.01	
07105/2() 16	2017 y		
COi	6.00	100.0000000		6.00	23,858 01 	
08/02i2016	2017 y		
COi	5.00	I 00.0000000		5.00	23,853.01	
09/0212016	2017 y		
COi	5.00	100.0000000			23,848.01	
1 0/04/20 16	2017 y		
COi	2.00	1 00.0000000		2.00	23,846.01	
11 /02/20]6	2017 y		
COi	2.00	I 00.0000000		2.00	23,844.01	
1 2102/2016	2017 y		
COi	2.00	I00.0000000		2.00	23,842.01	
Ol i04i2017 	2017 y		
COi	2.00	100.0000000		2.00	23,840.0 1	
0210212017	20 17 y		
COi	3.00	100.0000000			23,837.01	
03,02/201 7	1017 y		
COi	3.00	100.0000000		3.00	23,834.01	
04104/2017	2017 y		
COi	3.00	100.0000000		3.00	23,831.01	
05102/2017 	2017 y		
COi	4.00	I 00.0000000		4.00	23,827.01	
06/02/20 17 	2017 y		
COi		I00.0000000		4.00	23,823.01	
07105/2017 	2018 y		
COi	4.00	I00.0000000		4.00	23,819.01	
08/0212017 	20 18 y		
COi	4.00	100.0000000			23,815.01	
09/0S/20 17 	2018 y		
COi	4.00	100.0000000		4.00	23,8 11.01	
!0/03i20 17 	2018 y		
COi	4.00	100.0000000		4.00	23,807.01	
l l/02i2017	2018 y		
COi	4.00	100.0000000		4.00	23,803.01	
12i0412017 	2018 y		COJ		I 00.0000000		4.00	23,799.01	
Oli03i2018 	20 18 y		
COi		I00.0000000		4.00	23,795.01	

FALCONTS07-2007-A I FY· 1 \ Mun-EaseElevateMainOb 1 16.95f EDB I 07/30/2018 j 14:51 I Rpt11
Grau & Associates
Grau & Associates C PAs	Page	5

Falcon Trace Community Development District Special Assessment Refunding Bonds, Series 2007 Unspent Proceeds Report
$ 4,085,000.00

Dole	ID	P",p	ID	Description	A111011111	Pertmtage	l,weslment	Expmdi1t1m	Proaeds	
02102120 18 	2018	y		COi	4.00	I00.0000000		4.00	23,791.tll	
03/02/2018	20 18 	y		COi	4.00	I 00.0000000		4.00	23,787.01	
0410312018	2018	y		COi	4.00	I 00.0000000		4.00	23,783.01	
0510212018 	201 8	y		COi	5 00	I00.0000000			23,778 01	
06i(l4120 18 	20 )8	y		COi	6.00	I 00.0000000		6.00	23,772.01	
					4,028,378.32		0.00	4,028,378.32		

Cole	Grp	fimd	Gross	Pool

Dated· Delivered:

No11p11rpou	P11,pose

07/01/2007
07/20/2007

Unspml

First lm•estment Date. ..... . . .... ............. 	7/20/2007	
Colr:11lotion Date . .............. .. ..... , , .... 	6/30/2018	
Arbitrage Yield Limit (Al'L). ...... ......... .... 	4.7385179	
h1temal Rate ofRetum (/RR). . . . . . . . .. . . . ..... 	0.8795100	

FALCONTSD7-2007-A I FY: 1 1 Mun-EaseElevateMainDb 1 18.951 EOB I 07/3012018 1 14:51 I Rp\11
Grau & Associates
Grau & Associates C PAs	Page	6

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series .2007	Delivered:	07/20/2007
I.R.R. Report Via Purpose Expenditures

999.73

$ 4,085,000.00

G,p
ID	Trans Date	Fund ID	
Demiption	Dqy Count Factor	Ca/r:nlation Ami (lnteml Eamti1g1)	Pool
P.-tg	**Internal
PV Factor	Rate efRctum **
PVA1nt	
-I	07/20/2007 		Beg. Arbitrage Gross Proceeds	0.0000000	(4,052,IS0.33)	100.000	1 .0000000	(4,052, I S0.33)	
0	07/20/2007		COi	0.0000000	105,118.00	100.000	1 .0000000	105, 11 8.00	
	07/20/2007		Transferred proceeds	0.0000000	(621 ,042.22)	100.000	1.0000000	(62 I ,042.22)	
	07/20/2007		Undenuiter's discount and oth	0 0000000	110,635.27	1 00.000	1 .0000000	11 0,635.27	
	07/20/2007		Pmt to Escrow agent	0.0000000	4,35 1 ,338.27	100.000	1.0000000	4,35 I ,338.27	
	07/30/2007		COi	0.0555556	8,065 .00	1 00.000	0.9997563	8,063.03	
	08/01 /2007		COi	0.0611111 	1,000.00	100.000	0.99973 19 		
	08/23/2007		COi	0. 1833333	5,250.00	1 00.000	0.9991959	5,245.78	
	08/30/2007		COi	0.2222222	4,790.00	1 00.000	0.9990254	4,785.33	
	1 0/05/2007		Interest	0.41 66667	609.00	100.000	0.9981 734	607.89	
	1 0/05/2007		COi	0.4166667	367.00	100.000	0.9981734	366.33	
	1 1/02/2007		Interest	0.5666667	247.00	1 00.000	0.9975166	246.39	
	1 1/02/2007		COJ	0.5666667	122.00	1 00.000	0.99751 66	121. 70	
	1 1/20/2007		Interest	0.6666667	58,265.00	100.000	0.9970790	58,094.81	
	12/04/2007		COi	0.7444444	113.00	1 00.000	0.9967388	1 12.63	
	01 /03/2008		COi	0.9055556	11 7.00	1 00.000	0.9960344	116.54	
	01 /29/2008		COi	1.0500000	71 8.00	1 00.000	0.9954033	714.70	
	02/04/2008		COi	1 .0777778	l09.00	1 00.000	0.9952820	108.49	
	02/13/2008		COi	1.1277778	1 ,595.00	l 00.000	0.9950636	1,587. 13 	
	03/04/2008		COi	1.2444444	79.00	1 00.000	0.9945544	78.57	
	04/02/2008		COi	1.4000000	73.00	1 00.000	0.9938758	72.55	
	05/0212008		COi	1.5666667	62.00	100.000	0.993 1492	61 .58	
	05/07/2008		Interest	1. 5944444	(87,397.00)	100.000	0.9930281	(86,787.68)	
	05/12/2008		Interest	1. 6222222	87,397.00	1 00.000	0.9929071	86,777.10 	
	06/03/2008		COi	1.7388889	61 .00	1 00.000	0.9923989	60.54	
	07/02/2008		COi	1 .9000000	55.00	100.000	0.99 1 6976	54.54	
	08/04/2008		COi	2.0777778	56.00	1 00.000	0.9909243	55.49	
	09/03/2008		COi	2.2388889	56.00	1 00.000	0.9902241	55.45	
	10/02/2008		COi	2.4000000	54.00	100.000	0.9895243	53.43	
	1 1/03/2008		Interest	2.5722222	(82,597.00)	1 00.000	0.9887768	(81 ,670.00)	
	1 1/03/2008		Interest	2.5722222	82,597.00	1 00.000	0.9887768	81 ,670.00	
	11 /04/2008		COi	2.5777778	56.00	1 00.000	0.9887527		
	1 2/02/2008		COi	2.7333333	51 .00	1 00.000	0.9880780	50.39	
	Ol /OS/2009		COi	2.9.1 66667	41 .00	100.000	0.9872835	40.48	
	02/03/2009		COi	3.0722222	29.00	1 00.000	0.9866098	28.61	
	03/03/2009		COi	3.2388889	18.00	100.000	0.9858886	1 7.75	
	04/02/2009		COi	3.4000000	15.00	100.000	0.985 1918 	14.78	
	05/01 /2009		Interest	3.561 1111 	(82,597.00)	1 00.000	0.9844956	(8 1,316.38)	
	05/01/2009		Interest	3.561 1111 	82,597.00	J OO.ODO	0.9844956	81,316.38	
	05/04/2009		COi	3.5777778	13.00	100.000	0.9844236	12.80	
	06/02/2009		COi	3.7333333	12.00	100.000	0.98375 19 	I 1.81	
	07/02/2009		COi	3.9000000	1 0.00	1 00.000	0.9830327	9. 83	
	08/04/2009		COi	4.0777778	8.00	1 00.000	0.9822662	7.86	
	09/02/2009		COi	4.2333333	5.00	1 00.000	0.981 5960	4.91	
	I Oi02/2009		COi	4.4000000	4.00	100.000	0.9808784	3. 92	
	1 1 /02/2009		Interest	4.5666667	(77,597.00)	100.000	0.9801613 	(76,057.58)	
	11 /02/2009		Interest	4.5666667	77,597.00	100.000	0.9801613 	76,057.58	
	11 /03/2009		COi	4.5722222	4.00	1 00.000	0.9801374	3.92	
	1 2/02/2009		COi	4.7333333	3.00	1 00.000	0.9794448	2.94	
	01 /05/20 10 		COi	4.91 66667	2.00	1 00.000	0.9786572	1. 96	
	02/0212010 		COi	5.0666667	1.00	1 00.000	0.9780132	0.98	
	03/02/2010		COi	5.2333333	1.00	J OO.ODO	0.9772983	0.98	
	04/02/20 10 		COi	5.4000000	1.00	1 00.000	0.9765838	0.98	

55.37

FALCONTS07-2007-A I FY: 1 1 Mun-EaseElevateMain0b I 16.95f EDB I 07/30/2018 I 14:51 I Rpl09c
Grau & Associates	Page	1
Grau & Associates C PAs

Falcon Trace Community Development District	Dated:	07/01 /2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/2012007
I.R.R. Report Via Purpose Expenditures

Grp
ID	Trans Date	F,md
ID	
Description	Dqy Cou11t   Calmlat1011 A1111	Pool I-a.tor	(111temt Eami11gs)    Pctg	** Internal Rate 1?iR4t11m ** PV Factor	PVAml	
0	05/03/20 10 		Interest	5.5722222	(77,S97.00) 100.000	0.9758461	(75;722.73)	

$ 4,085,000.00

OS/03/2010	Interest	5.S722222	77,597.00 100.000  0.9758461	75,722.73
05/04/2010	COl	5.5777778	1.00  100.000    0.9758223	0.98
06/02/2010	COi	5.7333333	2.()0   100.000  0.9751 565	1.9S
07/02/20 10	COi	S.9000000	2.00  100.000   0.9744436	1. 95
08/03/20 10	COi	6.0722222	3.00  100.000   0.973707S	2.92
09/02/2010	COi	6.2333333	4.00   100.000   0.9730194	3.89
1 0/04/20IO	COi	6.41 111 JI	3.00   100.000    0.9722606	2.92
I 1 /01 /20 10	Interest	6.561 1111	(72,397.00) 100.000 0.971 6209	(70,342.44)
1 J /01 120 10	Interest	6.561 1111	72,397.00  100.000   0.971 6209	70,342.44
1 1/02/20 10	COi	6 5666667	2.00   100.000    0.971 5972 	1 .94
1 2/02/20 10	COi	6.7333333	2.00  100.000   0.9708869	1 .94
01/04/20 11	COi	6.9111111	2.00    100.000     0.9701 299	1.94
02/02/20 11	COi	7.0666667	2.00  100.000    0.9694679	1.94
03/02/2011	COi	7.2333333	1.00  100.000    0.9687592	0.97
04/04/201 I	COi	7.41 11111	1.00   100.000    0.9680038	0.97
05/02/20 11	Interest	7.5666667	(72,397.00) 100.000 0.9673433	(70,032.75)
05/02/201 I	Interest	7.5666667	72,397.00 100.000 0.9673433	70,032.75
05/03/2011	COi	7.5722222	I.DO   100.000    0.96731 97 	0.97
06/02/20 1 I	COi	7.7333333	1.00  100.000   0.9666361	0.97
07/05/20 11	COi	7.91 66667	1.00   100.000    0.9658588	0.97
08/02/201 1	COi	8.0666667	1.00  100.000   0.9652233	0.97
09/02/20 11	COi	8.2333333	1.00   100.000   0.96451 77	0.96
1 0/04/20 11	COi	8.41 11111	1.00   100.000    0.9637656	0.96
11 /0 1 /20 11	Interest	8.561 1111	(66,725,00)   100.000	0.963 1314 
1 1/0)/2011	Interest	8.561 1111	66,725.00   100.000    0.963 1314	64,264.95
1 1/02/2011	COi	8.5666667	1 .00    100.000    0.963 I 080	0.96
12/02/20 11	COi	8.7333333	1.00   1 00.000    0.9624039	0.96
01 /04/2012	COi	8.91 11111	1 .00   100.000   0.961 6534	0.96
02102,2012	COi	9.0666667	1 .00  100.000   0.9609973	0.96
03/02120 12	COi	9.2333333	1.00  1 00.000	0.9602947	0.96
04/03/2012	COi	9.405 5556	2.00   100.000    0.9595693	1 .92
05/01/20 12	Interest	9.561 1111	(66,725.00) 1 00.000 0.9589146	(63,983.57)
05/01/2012	Interest	9.561 1111	66,725.00   1 00.000    0.9589146	63,983.57
05/02/2012	COi	9.5666667	2.00 1 00.000  0.9588912	I 9i
06/04/20 12	COi	9.7444444	2.00  100.000  0.9581435	1 .92
07/03/20 12	COi	9.9055556	2.00  100.000   0.9574664	1.91 
08/02/201 2	COi	l0.0666667	2.00   1 00.000    0.9567897	1.91 
09/05/20 12	COi	10.2500000	1.00   1 00.000    0.9560204	0.96
1 0/02/20 12	COi	10.4000000	1.00   100.000    0_.9553913  	0.96
11/02/20 12	COi	10.5666667	2.00  100.000   0.9546929	1.91 
12/04/20 12	COi	10.7444444	1.00  100.000    0.9539484	0.95
01/03/2013	COi	IO 9055556	1.00   1 00.000    0.9532743	0.95
06/03/2014	COi	13.7388889	3.00   1 00.000    0.9414962	2.82
20 15 06/02/20 15	COi	15.7333333	4.00  100.000    0.9332927	3.73
20 16 07/ 15/2015	COi	15.9722222	1.00   100.000   0.93231 49	0.93
08/04/2015	COi	16.0777778	1.00   100.000   0.931 8832	0.93
09/02/2015	COi	16.2333333	1.00   100.000    0.93 1 2473	0.93
10/02/20 15	COi	16.4000000	1.00  100.000   0.9305665	0.93
1 1/03/2015	COi	16.5 722222	1.00   100.000    0.9298636	0.93
12/02/2015	COi	16.7333333	1.00  100.000   0.9292064	0.93
0\/05/2016	COi	16.91 66667	3.00  100.000   0.9284592	2.79
FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainDb I 16.95f EDB I 07/3012018 1 14:S1 I Rpto9e
Grau & Associates	,-·,1cv·	2
G rau & Associates C PAs

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
I.R.R. Report Via Purpose Expenditures
$ 4,085,000.00

G,p
ID	Trans
Date	F11nd
ID	
Description	D(!)' Co1111t
factor	Calculation Amt
(llltemt Eamings)	Pool Pctg	** fotemal Rote PV Factor	qfFJ1t1rn *"'
PVA111t	
2016	02/0212016 		COi	17.0666667	5.00	100.000	0.9278483	4.64	
	03/02/2016 		COi	17 .2333333	6.00	l00.000	0.9271 700	5.56	
	04/02/2016 		COi	17.4000000	7.00	100.000	0.9264922	6.49	
	05/03/20 16 		COi	17. 5722222	7.00	100.000	0 9257923	6.48	
	06/02/2016 		COi	17.7333333	7.00	I00.000	0.925 1381 	6.48	
201 7	07/0512016		COi	1 7.9166667	6.00	100.000	0.9243942	5.55	
	08/02/2016 		COi	1 8.0666667	5.00	100.000	0.9237859	4.62	
	09/02/20 16 		COi	1 8.2333333	5.00	100.000	0.923 11 06	4.62	
	1 0/04/2016 		COi	l8.4 ll l III 	2.00	100.000	0.9223908	1.84	
	1 1 /02/20 16 		COi	18.5666667	2.00	100.000	0.921 7614 	1.84	
	1 2/02/20 16 		COi	18_.7333333	2.00	l00.000	0.92 ! 0876	1.84	
	01 /04/20 17 		COi	1 8.91 11111 	2.00	1 00.000	0.9203693	1.84	
	02/0212017 		COi	19.0666667	3.00	100.000	0.9197413	2.76	
	03/02/2017 		COi	19.2333333	3.00	100.000	0.9190690	2.76	
	04/04/201 7		COi	1 9.41 11111 	3.00	I00.000	0.91 83523	2.76	
	05/02/20 17 		COi	19.5666667	4.00	l00.000	0.91 77257	3.67	
	06/02/201 7		COi	1 9.7333333	4.00	100.000	0.91 70548	3.67	
20 18 	07/05/201 7		COi	19.9166667	4.00	100.000	0.91 631 73	3.67	
	08/02/2017 		COi	20.0666667	4.00	100.000	0.91 57 144	3.66	
	09/05/201 7		COi	20.2500000	4.00	100.000	0.91 4978 1	3.66	
	I 0/03/20 17 		COi	20.4055556	4.00	l00.000	0.9143538	3.66	
	11 /02/2017 		COi	20.5666667	4.00	l 00.000	0.9137076	3.65	
	1 2/04/2017 		COi	20.7444444	4.00	100.000	0.91 2995 1	3.65	
	01/03/20 !8 		COi	20.9055556	4.00	100.000	0.9123499	3.65	
	02/02/2018 		COi	21 .0666667	4.00	100.000	0.911 7052	3.65	
	03/02/2018		COi	21 .2333333	4.00	l 00.000	0.911 0387	3.64	
	04/03/20 18 		COi	21 .4055556	4.00	1 00.000	0.91 03505	3.64	
	05/021201 8		COi	21. 5666667	5.00	l00.000	0.9097071	4.55	
	06/0412018 		COi	21. 7444444	6.00	I00.000	0.9089978	5.45	
99999	06/30/201 8		Unspent Proceeds as 01"06/30/2018 	21. 8888889	26,4 19.00	100.000	0.90842 18 	23,999.60	
					2,646.99			(0.04)	

Arbitrage YieldLimit • • . . . ... . •.. . . . .
h1ternal Rate ofRet11r11 .••.. •... ..... 
Calcula1ion Standard	•.••••••• 

4.7365179
0.8795100
MSRB 30/360 SEMI 4/3

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMalnDb j 16.951 EDB I 07/30/201 8 1 14:51 I Rpt09c
Grau & Associates	Page	3
Grau & Associates C PAs