White Clay Community Development District

Meeting Agenda June 2, 2026

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White Clay
Community Development District
219 E. Livingston St., Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526
May 26, 2026
Board of Supervisors Meeting
White Clay Community Development District

Dear Board Members:
A Board of Supervisors Meeting of the White Clay Community Development District will be held on Tuesday, June 2, 2026 at 9:45 AM at 346 East Central Avenue, Winter Haven, FL 33880.
Zoom Video Link: https://us06web.zoom.us/j/87397784675
Call-In Information: 1-646-876-9923
Meeting ID: 873 9778 4675
Following is the advance agenda for the meeting:

Board of Supervisors Meeting
Roll Call
Public Comment Period (Public Comments will be limited to three (3) minutes)
Approval of Minutes of the March 3, 2026 Board of Supervisors Meeting
Public Hearing
Public Hearing on the Adoption of the Fiscal Year 2026/2027 Budget
Consideration of Resolution 2026-04 Adopting the District’s Fiscal Year 2026/2027 Budget and Appropriating Funds
Consideration of Fiscal Year 2026/2027 Developer Funding Agreement
Consideration of Resolution 2026-05 Re-Setting a Public Hearing on the Adoption of Amended and Restated Rules of Procedure for the District (Suggested Date: November 3, 2026)
Consideration of Resolution 2026-06 Designation of a Regular Monthly Meeting Date, Time, and Location for Fiscal Year 2026/2027
Presentation of Fiscal Year 2025 Audit Report
Goals and Objectives
Adoption of Fiscal Year 2027 Goals & Objectives
Review of Approved Fiscal Year 2026 Goals & Objectives and Authorizing Chair to Execute Final Form
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Presentation of Number of Registered Voters—0
Reminder to Board Members to File Form 1’s by the July 1, 2026 Deadline
Other Business
Supervisors Requests and Audience Comments
Adjournment

MINUTES

MINUTES OF MEETING WHITE CLAY
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the White Clay Community Development District was held Tuesday, March 3, 2026 at 9:50 a.m. at 346 E. Central Ave., Winter Haven, Florida.

Present and constituting a quorum:
Lauren Schwenk	Vice Chairperson
Lindsey Roden	Assistant Secretary
Bobbie Shockley	Assistant Secretary
Jessica Spencer	Assistant Secretary Also present were:
Jill Burns	District Manager, GMS
Meredith Hammock	District Counsel, Kilinski Van Wyk Megan Birnholz-Couture by Zoom	District Counsel, Kilinski Van Wyk Chace Arrington by Zoom	District Engineer, Dewberry
Mashall Tindall	Field Manager, GMS

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order at 9:50 a.m. and called roll. Four Supervisors were present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
There were no members of the public present for the meeting.

THIRD ORDER OF BUSINESS	Approval of Minutes of the July 8, 2025
Board of Supervisors Meeting and July 8, 2025 Audit Committee Meeting
Ms. Burns presented the minutes of the July 8, 2025 Board of Supervisor meeting and the July 8, 2025 Audit Committee meeting and asked for any questions or comments. The Board made no changes to the minutes.

On MOTION by Ms. Roden, seconded by Ms. Shockley, with all in favor, the Minutes of the July 8, 2025 Board of Supervisors Meeting and July 8, 2025 Audit Committee Meeting, were approved.

March 3, 2026	White Clay CDD

FOURTH ORDER OF BUSINESS	Presentation	of	Memo	Regarding
Amendments to District Rules of Procedure
A. Consideration of Resolution 2026-01 Setting a Public Hearing on the Adoption of Amended and Restated Rules of Procedure for the District
Ms. Burns suggested they set the public hearing on June 2, 2026. She noted that the updated rules incorporate recent statutory changes and some minor cleanup items.

On MOTION by Ms. Spencer, seconded by Ms. Shockley, with all in favor, Resolution 2026-01 Setting a Public Hearing on the Adoption of Amended and Restated Rules of Procedure for the District on June 2, 2026, was approved.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2026-02 Spending Authorization Resolution
Ms. Burns stated Resolution 2026-02 authorizes the District Manager to authorize expenses up to $2,500 outside of the meeting. The Vice Chair can authorize up to $10,000 and the District Manager and Chair together can authorize up to $25,000.

On MOTION by Ms. Spencer, seconded by Ms. Shockley, with all in favor, Resolution 2026-02 Spending Authorization Resolution, was approved.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2026-03 Approving the Proposed Fiscal Year 2026-2027 Budget and Setting the Public Hearing on the Adoption of the Fiscal Year 2026-2027 Budget (Suggested Date: June 2, 2026)
Ms. Burns suggested setting the public hearing for Resolution 2026-03 on June 2, 2026. The proposed budget, which is developer-funded and does not anticipate field expenses unless incurred, needs to be sent to the city or county at least 60 days before the scheduled public hearing. Ms. Burns noted that while field expenses and a playground lease were included for potential future needs, changes can still be made before adoption. The timeline aligns with the regular June meeting.

On MOTION by Ms. Roden, seconded by Ms. Shockley, with all in favor, Resolution 2026-03 Approving the Proposed Fiscal Year 2026-2027 Budget and Setting the Public Hearing on the Adoption of the Fiscal Year 2026-2027 Budget on June 2, 2026, was approved.

March 3, 2026	White Clay CDD

SEVENTH ORDER OF BUSINESS	Consideration of 2026 Contract Agreement
with Polk County Property Appraiser
Ms. Burns stated they don’t anticipate collecting the assessments on the tax bill this upcoming year but will enter into the agreement so they are ready to collect assessments when needed.

On MOTION by Ms. Spencer, seconded by Ms. Shockley, with all in favor, the 2026 Contract Agreement with Polk County Property Appraiser, was approved.

EIGHTH ORDER OF BUSINESS	Ratification of 2026 Data Sharing and Usage
Agreement with Polk County Property Appraiser
Ms. Burns noted that the 2026 Data Sharing and Usage Agreement with Polk County Property Appraiser has already been executed. She asked for a motion to ratify the agreement.

On MOTION by Ms. Roden, seconded by Ms. Shockley, with all in favor, the 2026 Data Sharing and Usage Agreement with Polk County Property Appraiser, was ratified.

NINTH ORDER OF BUSINESS	Staff Reports
A. Attorney
Ms. Hammock had nothing to report

B. Engineer
Ratification of Work Authorization 2026-1 for District Engineering Services with Dewberry
Mr. Arrington stated the schedule of prices are on page 103, rates are on page one of the three.
He noted that the estimated budget is $13,750 plus other direct costs.

On MOTION by Ms. Shockley, seconded by Ms. Spencer, with all in favor, Work Authorization 2026-1 for District Engineering Services with Dewberry, was ratified.

C. District Manager’s Report
Approval of Check Register
Ms. Burns stated the check register is included in the agenda package for review.

March 3, 2026	White Clay CDD

On MOTION by Ms. Shockley, seconded by Ms. Roden, with all in favor, the Check Register, was approved.

Balance Sheet & Income Statement
Ms. Burns stated the financial statements are also included and offered to take any questions.
These are for informational purposes.

TENTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

ELEVENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being no comments, the next item followed.

TWELFTH ORDER OF BUSINESS	Adjournment
Ms. Burns asked for a motion to adjourn.

On MOTION by Ms. Shockley, seconded by Ms. Roden, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Section A

Section 1

RESOLUTION 2026-04

THE ANNUAL APPROPRIATION RESOLUTION OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2026, AND ENDING SEPTEMBER 30, 2027; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June 2026, submitted to the Board of Supervisors (“Board”) of the White Clay Community Development District (“District”) proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2026 and ending September 30, 2027 (“Fiscal Year 2027”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and
WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and
WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least two (2) days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

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

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

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the White Clay Community Development District for the Fiscal Year Ending September 30, 2027.”
The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption, and shall remain on the website for at least two (2) years.

SECTION 2. APPROPRIATIONS

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

TOTAL GENERAL FUND	$	

SECTION 3. BUDGET AMENDMENTS
Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2027 or within sixty (60) days following the end of the Fiscal Year 2027 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

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

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

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

PASSED AND ADOPTED THIS 2ND DAY OF JUNE 2026.

ATTEST:	WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Adopted Budget for Fiscal Year 2027

White Clay
Community Development District

Proposed Budget
FY2027

Table of Contents

1		General Fund

2-4		General Fund Narrative

White Clay
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description		FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues							
Developer Contributions	$	393,542	$	40,000	$	27,167	$	67,167	$	442,692	
Interest	$	-	$	80	$	45	$	125	$	-	
Total Revenues	$	393,542	$	40,080	$	27,212	$	67,292	$	442,692	

Expenditures							
General & Administrative							
Supervisor Fees	$	12,000	$	800	$	2,400	$	3,200	$	12,000	
FICA Expense	$	900	$	61	$	375	$	436	$	900	
Engineering	$	15,000	$	250	$	6,250	$	6,500	$	15,000	
Attorney	$	25,000	$	4,105	$	10,417	$	14,522	$	25,000	
Annual Audit	$	4,000	$	2,900	$	-	$	2,900	$	4,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	-	$	-	$	-	$	5,000	
Trustee Fees	$	4,042	$	-	$	-	$	-	$	4,042	
Management Fees	$	40,000	$	11,667	$	8,333	$	20,000	$	40,000	
Information Technology	$	1,800	$	1,050	$	750	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	2,450	$	500	$	2,950	$	1,200	
Postage & Delivery	$	1,000	$	69	$	417	$	486	$	1,000	
Insurance	$	6,350	$	5,000	$	-	$	5,000	$	5,500	
Copies	$	1,000	$	-	$	417	$	417	$	1,000	
Legal Advertising	$	15,000	$	-	$	6,250	$	6,250	$	15,000	
Other Current Charges	$	5,000	$	309	$	2,083	$	2,392	$	5,000	
Office Supplies	$	625	$	3	$	260	$	264	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	143,542	$	28,839	$	38,452	$	67,292	$	142,692	

Operations & Maintenance							
Field Contingency	$	250,000	$	-	$	-	$	-	$	250,000	
Playground Lease	$	-	$	-	$	-	$	-	$	50,000	
Total Operations & Maintenance:	$	250,000	$	-	$	-	$	-	$	300,000	
							
Total Expenditures	$	393,542	$	28,839	$	38,452	$	67,292	$	442,692	
							
Excess Revenues/(Expenditures)	$	-	$	11,240	$	(11,240)  $	-	$	-	

White Clay
Community Development District
General Fund Budget

Revenues:

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

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

Engineering

The District's engineer, Dewberry Engineers, Inc provides general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Kilinski Van Wyk, Pllc provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District. Governmental Management Services – Central Florida, LLC provides these services.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

White Clay
Community Development District
General Fund Budget

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance. Governmental Management Services – Central Florida, LLC provides these services.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

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

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Governmental Management Services – Central Florida, LLC provides these systems.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services – Central Florida, LLC provides these services.

Postage & Delivery

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

Insurance

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

Copies

Printing agenda materials for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

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

White Clay
Community Development District
General Fund Budget

Other Current Charges

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

Office Supplies

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

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operation & Maintenance:

Field Contingency

Represents estimated cost for any expense not budgeted in other line items.

Playground Lease

The District will enter into a leasing agreement for playgrounds equipment installed in the community.

Section 2

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2027 FUNDING AGREEMENT

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

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, with a mailing address of c/o Governmental Management Services LLC – Central Florida, 219 East Livingston Street, Orlando, Florida 32801 (“District”), and

CH DEV, LLC, a Florida limited liability company, with a mailing address of 346 East Central Avenue, Winter Haven, Florida 33880 (“Developer”).
RECITALS

Whereas, the District was established by Ordinance No. O-24-2094 adopted by the City Commission of the City of Haines City, Florida, effective November 21, 2024, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and

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

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

Whereas, the District is adopting its general fund budget for the Fiscal Year 2027, which begins October 1, 2026, and ends September 30, 2027, (the “Budget”); and

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

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

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

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

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

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

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

Section 1. Recitals. The recitals stated above are true and correct and by this reference are incorporated herein as a material part of this Agreement.
SECTION 2. FUNDING. Developer agrees to make available to the District the monies necessary for the operation of the District as called for in the Budget attached hereto as Exhibit B, as may be amended from time to time in the District’s sole discretion, within fifteen (15) days of written request by the District. Amendments to the District’s Budget, as shown on Exhibit B adopted by the District at a duly noticed meeting, shall have the effect of amending this Agreement without further action of the parties. Funds provided hereunder shall be placed in the District’s general checking account. In no way shall the foregoing in any way affect the District’s ability to levy special assessments upon the property within the District, including any property owned by Developer, in accordance with Florida law, to provide funds for any unfunded expenditures whether such expenditures are the result of an amendment to the District’s Budget or otherwise. These payments are made by Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District.
SECTION 3. CONTINUING LIEN. The District shall have the right to file a continuing lien upon the Property described in Exhibit A for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District’s lien. The lien shall be effective as of the execution of this Agreement. If Developer fails to pay sums due according to the terms of this Agreement, at the District Manager’s direction, the District may bring an action at law against the record title holder to the Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when Developer has demonstrated, in the District’s sole discretion, that such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Developer sells any of the Property described in Exhibit A after the execution of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the

same, provided however that the District shall only have the right to file a lien upon the remaining Property owned by the Developer.
Section 4. Alternative Collection Methods. This Section provides for alternative methods of collection. In the event Developer fails to make payments due to the District pursuant to this Agreement, and the District first provides Developer with written notice of the delinquency to the address identified in this Agreement and such delinquency is not cured within five (5) business days of the notice, then the District shall have the following remedies:
In the alternative or in addition to the collection method set forth in Section 2 above, the District may enforce the collection of funds due under this Agreement by action against Developer in the appropriate judicial forum in and for Polk County, Florida. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the substantially prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.
The District hereby finds that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. Developer agrees that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set forth in Exhibit B, on an equal developable acreage basis. Therefore, in the alternative, or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197 or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the Polk County property appraiser. Developer hereby waives and/or relinquishes any rights it may have to challenge, object to or otherwise fail to pay such assessments if imposed, as well as the means of collection thereof.
Section 5. Agreement; Amendments. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.
Section 6. Authorization. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.
Section 7. Assignment. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other, which consent shall not be unreasonably withheld.

Section 8. Default. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement in the manner described herein in Sections 3 and 4 above.
Section 9. Third Party Rights; Transfer of Property. This Agreement is solely
for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, Developer shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agrees to be bound by the terms of this Agreement. In the event of such sale or disposition, Developer may place into escrow an amount equal to the then unfunded portion of the applicable adopted Budget to fund any budgeted expenses that may arise during the remainder of the applicable fiscal year. Upon confirmation of the deposit of said funds into escrow, and evidence of an assignment to, and assumption by the purchaser, of this Agreement, Developer’s obligation under this Agreement shall be deemed fulfilled and this Agreement terminated. Developer shall give 90 days’ prior written notice to the District under this Agreement of any such sale or disposition.
Section 10. Governing Law; Venue. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. The parties agree and consent to, for the purposes of venue, the exclusive jurisdiction of the courts of Polk County, Florida.
Section 11. Arm’s Length Transaction. This Agreement has been negotiated fully between the parties as an arm’s length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.
Section 12. Public Records. Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and treated as such in accordance with Florida law.
Section 13. Notices. All notices, requests, consents, and other communications hereunder (“Notices”) shall be in writing and shall be mailed by First Class Mail, postage prepaid, or sent by overnight delivery service, to the parties, as follows:

If to the District:	White Clay Community Development District

c/o GMS – Central Florida, LLC 219 East Livingston Street Orlando, Florida 32801
Attn: District Manager

With a copy to:	Kilinski | Van Wyk PLLC
517 East College Avenue Tallahassee, Florida 32301
Attn: White Clay CDD, District Counsel

If to Developer:	CH DEV LLC
346 East Central Avenue Winter Haven, Florida 33880 Attn: Albert B. Cassidy

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the parties may deliver Notice on behalf of the parties. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days’ written notice to the parties and addressees set forth herein.
Section 14. Counterparts. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.
Section 15. Effective Date. This Agreement shall be effective after execution by both parties hereto. The enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full.
Section 16. Antihuman Trafficking Affidavit. Developer certifies, by acceptance of this Agreement, that neither it nor its principals utilize coercion for labor or services as defined in Section 787.06, Florida Statutes. Developer agrees to execute an affidavit in compliance with Section 787.06(14), Florida Statutes, and acknowledges that if Developer refuses to sign said affidavit, the District may terminate this Agreement immediately.

[Signatures on following page]

In Witness Whereof, the parties execute this Agreement the day and year first written
above.

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT

Chairperson/Vice Chairperson

CH DEV LLC, a Florida limited liability company

By: Albert B. Cassidy Its: Manager

EXHIBIT A: Legal Description of the Property
EXHIBIT B: Fiscal Year 2027 Budget

EXHIBIT A
Legal Description of the Property

A PORTION OF SECTIONS 10 AND 11, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE NORTHWEST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 10; THENCE N89°32'12"E, ALONG THE NORTH LINE OF SECTION 10, A DISTANCE OF 1326.43 FEET TO A POINT ON THE WEST LINE OF THE EAST 1/2 OF THE NORTHEAST 1/4 OF SECTION 10; THENCE S00°28'07"E, ALONG SAID WEST LINE, A DISTANCE OF 1325.47 TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 10 AND ALSO THE POINT OF BEGINNING; THENCE N89°18'03"E, ALONG SAID SOUTH LINE, A DISTANCE OF 1326.39 FEET TO A POINT ON THE EAST LINE OF SECTION 10; THENCE S00°28'00"E, ALONG SAID EAST LINE, A DISTANCE OF 1320.01 FEET TO A POINT ON THE NORTH LINE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 11; THENCE N89°44'10"E, ALONG SAID NORTH LINE, A DISTANCE OF 606.12 FEET; THENCE DEPARTING SAID NORTH LINE, RUN S00°18'15"E, A DISTANCE OF 55.83 FEET; THENCE S00°32'08"E, A DISTANCE OF
697.95 FEET; THENCE N89°27'52"E, A DISTANCE OF 212.66 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF
190.00 FEET, A CENTRAL ANGLE OF 83°48'39", A CHORD BEARING OF S48°37'48"E AND A CHORD DISTANCE OF 253.80 FEET; THENCE RUN SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, A DISTANCE OF 277.92 FEET TO A POINT OF NON-TANGENCY; THENCE N61°22'10"E, A DISTANCE OF 349.91 FEET TO A POINT ON THE EAST LINE OF THE WEST 1/2 OF THE SOUTHWEST 1/4 OF SECTION 11; THENCE S00°14'07"E, ALONG SAID EAST LINE, A DISTANCE OF 1887.87 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 11; THENCE S89°35'29"W, ALONG SAID SOUTH LINE, A DISTANCE OF 1316.44 FEET TO THE SOUTHEAST CORNER OF SECTION 10; THENCE S89°12'40"W, ALONG THE SOUTH LINE OF THE EAST 1/2 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 10 , A DISTANCE OF 661.37 FEET TO A POINT ON THE WEST LINE OF THE EAST 1/2 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 10; THENCE N00°21'13"W, ALONG SAID WEST LINE, A DISTANCE OF 1322.31 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 10; THENCE S89°08'16"W, ALONG SAID SOUTH LINE, A DISTANCE OF 662.28 FEET TO A POINT ON THE WEST LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 10; THENCE N00°23'34"W, ALONG SAID WEST LINE, A DISTANCE OF
280.71 FEET; THENCE DEPARTING SAID WEST LINE, RUN S89°06'04"W, A DISTANCE OF 662.47 FEET TO A POINT ON THE WEST LINE OF THE EAST 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 10; THENCE N00°25'55"W, ALONG SAID WEST LINE, A DISTANCE OF 1040.32 FEET TO A POINT ON THE NORTH LINE OF THE EAST 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 10; THENCE N89°03'53"E, ALONG SAID NORTH LINE, A DISTANCE OF 663.19 FEET TO A POINT ON THE WEST LINE OF THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10; THENCE N00°28'07"W, ALONG SAID WEST LINE, A DISTANCE OF 1325.47 FEET TO THE POINT OF BEGINNING.

TOGETHER WITH

A PORTION OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 11, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE CENTER CORNER OF THE OF SAID SECTION 11; THENCE S89°44'10"W, ALONG THE SOUTH LINE OF THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF SECTION 11, A DISTANCE OF 1320.09 FEET TO A POINT IN THE EAST LINE OF THE WEST 1/2 OF THE SOUTHWEST 1/4 OF SECTION 11 AND ALSO THE POINT OF BEGINNING; THENCE S00°14'07"E, ALONG SAID EAST LINE, A DISTANCE OF 332.33 FEET; THENCE DEPARTING SAID EAST LINE, RUN S89°33'03"W, A DISTANCE OF
150.07 FEET; THENCE N00°18'15"W, A DISTANCE OF 332.39 FEET TO A POINT ON THE NORTH LINE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 11; THENCE N89°44'10"E, ALONG SAID NORTH LINE, A DISTANCE OF 150.47 FEET TO THE POINT OF BEGINNING.

CONTAINING 184 ACRES MORE OR LESS.

EXHIBIT B
Fiscal Year 2027 Budget

White Clay
Community Development District

Proposed Budget
FY2027

Table of Contents

1		General Fund

2-4		General Fund Narrative

White Clay
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description		FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues							
Developer Contributions	$	393,542	$	40,000	$	27,167	$	67,167	$	442,692	
Interest	$	-	$	80	$	45	$	125	$	-	
Total Revenues	$	393,542	$	40,080	$	27,212	$	67,292	$	442,692	

Expenditures							
General & Administrative							
Supervisor Fees	$	12,000	$	800	$	2,400	$	3,200	$	12,000	
FICA Expense	$	900	$	61	$	375	$	436	$	900	
Engineering	$	15,000	$	250	$	6,250	$	6,500	$	15,000	
Attorney	$	25,000	$	4,105	$	10,417	$	14,522	$	25,000	
Annual Audit	$	4,000	$	2,900	$	-	$	2,900	$	4,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	-	$	-	$	-	$	5,000	
Trustee Fees	$	4,042	$	-	$	-	$	-	$	4,042	
Management Fees	$	40,000	$	11,667	$	8,333	$	20,000	$	40,000	
Information Technology	$	1,800	$	1,050	$	750	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	2,450	$	500	$	2,950	$	1,200	
Postage & Delivery	$	1,000	$	69	$	417	$	486	$	1,000	
Insurance	$	6,350	$	5,000	$	-	$	5,000	$	5,500	
Copies	$	1,000	$	-	$	417	$	417	$	1,000	
Legal Advertising	$	15,000	$	-	$	6,250	$	6,250	$	15,000	
Other Current Charges	$	5,000	$	309	$	2,083	$	2,392	$	5,000	
Office Supplies	$	625	$	3	$	260	$	264	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	143,542	$	28,839	$	38,452	$	67,292	$	142,692	

Operations & Maintenance							
Field Contingency	$	250,000	$	-	$	-	$	-	$	250,000	
Playground Lease	$	-	$	-	$	-	$	-	$	50,000	
Total Operations & Maintenance:	$	250,000	$	-	$	-	$	-	$	300,000	
							
Total Expenditures	$	393,542	$	28,839	$	38,452	$	67,292	$	442,692	
							
Excess Revenues/(Expenditures)	$	-	$	11,240	$	(11,240)  $	-	$	-	

White Clay
Community Development District
General Fund Budget

Revenues:

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

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

Engineering

The District's engineer, Dewberry Engineers, Inc provides general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Kilinski Van Wyk, Pllc provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District. Governmental Management Services – Central Florida, LLC provides these services.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

White Clay
Community Development District
General Fund Budget

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance. Governmental Management Services – Central Florida, LLC provides these services.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

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

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Governmental Management Services – Central Florida, LLC provides these systems.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services – Central Florida, LLC provides these services.

Postage & Delivery

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

Insurance

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

Copies

Printing agenda materials for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

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

White Clay
Community Development District
General Fund Budget

Other Current Charges

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

Office Supplies

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

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operation & Maintenance:

Field Contingency

Represents estimated cost for any expense not budgeted in other line items.

Playground Lease

The District will enter into a leasing agreement for playgrounds equipment installed in the community.

Section V

RESOLUTION 2026-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT RE-SCHEDULING AND NOTICING THE PUBLIC HEARING ON PROPOSED AMENDED AND RESTATED RULES OF PROCEDURE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the White Clay Community Development District (“District”) is a local unit of special purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in Polk County, Florida; and

WHEREAS, the District’s Board of Supervisors (“Board”) adopted Resolution 2026-01 on March 3, 2026, setting a public hearing for the adoption of the District’s proposed Amended and Restated Rules of Procedure on June 2, 2026, at 9:45 a.m. at 346 East Central Avenue, Winter Haven, Florida 33880; and
WHEREAS, the Board now desires to ratify the District Manager’s and District staff’s actions in re-scheduling the date and time of the public hearing on the proposed Amended and Restated Rules of Procedure for November 3, 2026, at 10:30 AM at 346 East Central Avenue, Winter Haven, Florida 33880, and causing notice thereof to be provided pursuant to Florida law; and

WHEREAS, the Board further desires to amend Resolution 2026-01 to reflect the same.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. Resolution 2026-01 is hereby amended to reflect the re-scheduled date and time of the hearing on the proposed Amended and Restated Rules of Procedure for the following date, time, and location:

DATE:	Tuesday, November 3, 2026
HOUR:	10:30 AM
LOCATION:	346 East Central Avenue
Winter Haven, Florida 33880
SECTION 2. The actions of the District Manager and District staff in re-scheduling and re-noticing the hearing on the proposed Amended and Restated Rules of Procedure are hereby ratified and approved.

SECTION 3. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SECTION 4. Except as otherwise provided herein, all of the provisions of Resolution 2026-01 continue in full force and effect.

SECTION 5. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.
SECTION 6. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED THIS 2ND DAY OF JUNE 2026.

ATTEST:	WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair / Vice Chair, Board of Supervisors

Section VI

RESOLUTION 2026-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT SETTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2027; AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, White Clay Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Polk County, Florida; and

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

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

WHEREAS, the Board of Supervisors desires to adopt an annual meeting schedule for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“Fiscal Year 2027”), attached as Exhibit A.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. The Fiscal Year 2027 annual meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and shall be published in accordance with the requirements of Florida law and also provided to applicable governing authorities.

SECTION 2. This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED this 2nd day of June 2026.

ATTEST:	WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A: Fiscal Year 2027 Annual Meeting Schedule

EXHIBIT A:

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT NOTICE OF MEETINGS FOR FISCAL YEAR 2027

The Board of Supervisors (“Board”) of the White Clay Community Development District (“District”) will hold their regular meetings for Fiscal Year 2027 at the Cassidy Organization, 346 East Central Avenue, Winter Haven, Florida 33880, at 10:30 a.m. on the following dates, unless otherwise indicated as follows:

Tuesday, November 3, 2026
Tuesday, March 2, 2027
Tuesday, June 1, 2027
Tuesday, September 7, 2027
The meetings will be conducted in accordance with the provisions of Florida law for community development districts and, other than the closed session described above, will be open to the public. The meetings may be continued in progress without additional notice to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for the meetings may be obtained by contacting the office of the District Manager c/o Governmental Management Services – Central Florida, LLC, 219 East Livingston Street, Orlando, Florida 32801; Phone: (407) 841-5524 (“District Manager’s Office”).

There may be occasions when one or more Board supervisors or staff will participate by speaker telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at any meeting because of a disability or physical impairment should contact the District Office at (321) 263-0132 at least three (3) business days prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.

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

Section VII

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT
CITY OF HAINES CITY, FLORIDA FINANCIAL REPORT
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA

TABLE OF CONTENTS

	  Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-5	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	6	
Statement of Activities	7	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	8	
Reconciliation of the Balance Sheet – Governmental Funds		
to the Statement of Net Position	9	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
10	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
11	
Notes to Financial Statements	12-17	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
18	
Notes to Required Supplementary Information	19	
OTHER INFORMATION		
Data Elements Required by Florida Statute 218.39(3)(c)	20	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	

21-22	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

23	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
24-25	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
White Clay Community Development District City of Haines City, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of White Clay Community Development District, City of Haines City, Florida (“District”) as of and for the period from inception November 21, 2024 to September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, and the respective changes in financial position, thereof for the period from inception November 21, 2024 to September 30, 2025 in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c) but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated May 20, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

May 20, 2026

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of White Clay Community Development District, City of Haines City, Florida (“District”) provides a narrative overview of the District’s financial activities for the period from inception November 21, 2024 to September 30, 2025. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

This information is being presented to provide additional information regarding the activities of the District and to meet the disclosure requirements of Governmental Accounting Standards Board Statement (“GASB”) No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments issued June 1999. Comparative information between the current year and the prior year is required to be presented in the Management’s Discussion and Analysis (“MD&A”). However, because this is the first year of operations of the District, comparative information is excluded in this report. Subsequent reports will include the comparative information.
FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the period from inception November 21, 2024 to September 30, 2025 resulting in a net position deficit balance of ($11,334).

The District’s total change in net position was ($11,334), a decrease. The key components of the District’s net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2025, the District’s governmental funds reported combined ending fund balance of $9,695, an increase. The total fund balance is nonspendable for prepaid items, and the remainder is unassigned fund balance in the general fund.
OVERVIEW OF FINANCIAL STATEMENTS

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

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

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

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

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

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

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

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

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

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

The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.
GOVERNMENT-WIDE FINANCIAL ANALYSIS

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

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

NET POSITION SEPTEMBER 30,

		2025		
Current and other assets	 $	11,967 	
Total assets		11,967 	
Current liabilities	2,272	
Long-term liabilities		21,029 	
Total liabilities		23,301 	
Net position
Unrestricted		(11,334) 
Total net position	 $	(11,334) 

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

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

CHANGES IN NET POSITION
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

Revenues:
Program revenues
Operating grants and contributions

 $	78,606 

Total revenues		78,606  Expenses:
General government	68,911	
Bond issuance costs		21,029 	
Total expenses		89,940 	
Change in net position		(11,334) 	
Net position - beginning		-		
Net position - ending	 $	(11,334) 	

As noted above and in the statement of activities, the cost of all governmental activities during the period from inception November 21, 2024, to September 30, 2025, was $89,940. The costs of the District’s activities were funded by program revenues which were comprised of Developer contributions.

GENERAL BUDGETING HIGHLIGHTS
An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the period from inception November 21, 2024 to September 30, 2025.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

Subsequent to fiscal year end the Board is in discussion to issue Bonds in order to finance the construction and acquisition of infrastructure improvements for the benefit of the District.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

If you have questions about this report or need additional financial information, contact the White Clay Community Development District’s Finance Department at 219 E. Livingston Street, Orlando, FL 32801.

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
STATEMENT OF NET POSITION SEPTEMBER 30, 2025

	Governmental
	Activities		
ASSETS		
Cash	$	6,967	
Prepaid items		5,000 	
Total assets		11,967 	
LIABILITIES		
Accounts payable	2,272	
Non-current liabilities:		
Developer advance		21,029 	
Total liabilities		23,301 	
NET POSITION		
Unrestricted		(11,334) 	
Total net position	 $	(11,334) 	

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

Program

Net (Expense) Revenue and Changes in Net

	Revenues	Position	 Operating
Grants and	Governmental
Functions/Programs		Expenses	Contributions	Activities	 Primary government:
Governmental activities:

General government

$	68,911	$

78,606	$

9,695

Bond issuance costs		21,029		-	 (21,029)  Total governmental activities		89,940	78,606	(11,334) 

Change in net position		(11,334) Net position - beginning			-	
Net position - ending	 $	(11,334) 

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2025

	Major Funds	
Capital
General	Projects

Total Governmental Funds

ASSETS		
Cash	$	6,967	$	-	$	6,967	
Prepaid items	5,000	-	5,000	
Total assets	$	11,967	$	-	$	11,967	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$	2,272	$	-	$	2,272	
Total liabilities	2,272	-	2,272	

Fund balances:
Nonspendable:
Prepaid items		5,000		-		5,000	
Unassigned		4,695		-		4,695	
Total fund balances		9,695		-		9,695	

Total liabilities and fund balances	
$	
11,967	
$	
-	
$	
11,967	

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025
Fund balance - governmental funds	$	9,695 Amounts reported for governmental activities in the statement of
net position are different because:
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Developer advances		(21,029) 
Net position of governmental activities	$	(11,334)

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

	Major Funds		Total

REVENUES

General

Capital Projects

Governmental Funds

Developer contributions	$	78,606	$	-	$	78,606	
Total revenues	78,606	-	78,606	

EXPENDITURES
Current:
General government	

68,911	

-	

68,911	
Debt service:
Bond issuance costs	
-	
21,029	
21,029	
Total expenditures	68,911	21,029	89,940	
Excess (deficiency) of revenues over (under) expenditures	

9,695	

(21,029)	

(11,334)	

OTHER FINANCING SOURCES (USES)
Developer advances		

-		

21,029		

21,029	
Total other financing sources (uses)		-		21,029		21,029	

Net change in fund balances		
9,695		
-		
9,695	
Fund balances - beginning		-		-		-	

Fund balances - ending	
$	
9,695	
$	
-	
$	
9,695	

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

Net change in fund balances - total governmental funds	$	9,695 Amounts reported for governmental activities in the statement of activities
are different because:

Governmental funds report Developer advances as financial resources, whereas these amounts are eliminated in the statement of activities and recognized as long-term liabilities in the statement of net position.

Change in net position of governmental activities

	(21,029) 

$	(11,334)

See notes to the financial statements

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 - NATURE OF ORGANIZATION AND REPORTING ENTITY

White Clay Community Development District (the "District") was established by the City Commission of the City of Haines City, Ordinance No. 24-2094 effective on November 21, 2024, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.
The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected on an at large basis by the owners of the property within the District. The Board exercises all powers granted to the District pursuant to Chapter 190, Florida Statutes. As of September 30, 2025, all Board members are affiliated with CH DEV LLC “Developer”.

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

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment; operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.
Assessments
Assessments are non-ad valorem assessments on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually at a public hearing of the District. Debt service assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the uniform method of collection under Florida Statutes. Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by the County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents.

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

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.
Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity
Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:
The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.
Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.
Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the governmental activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets’ lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.
Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

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

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

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

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

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

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

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

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

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

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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

NOTE 3 - BUDGETARY INFORMATION

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

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

NOTE 4 - DEPOSITS

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

NOTE 5 - DEVELOPER TRANSACTIONS

The Developer has agreed to fund the general operations of the District. In connection with that agreement, Developer contributions to the general fund were $78,606. In addition, the Developer advanced the District $21,029 in order to fund bond validation expenses which would be reimbursed to the Developer upon issuance of the Bonds. If Bonds are not issued within 5 years, then the advance will be considered a Developer contribution. The Bonds have not been issued as of the date of the report. Changes in long-term liabilities associated with Developer transactions during the fiscal year ended September 30, 2025, are reflected in the table below:

Governmental activities Direct borrowings:

Beginning Balance

Additions	Reductions

Ending Balance

Developer advances	$	-	$	21,029	$	-	$	21,029	
Total	$	-	$	21,029	$	-	$	21,029	

NOTE 6 - CONCENTRATION

The District’s activity is dependent upon the continued involvement of the Developer and major landowners, the loss of which could have a material adverse effect on the District’s operations.
NOTE 7 - MANAGEMENT COMPANY

The District has contracted with a management company to perform services which include financial and accounting advisory services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.
NOTE 8 - RISK MANAGEMENT

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

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025

Budgeted
		Amounts	 Original & Final

Actual Amounts

Variance with Final Budget - Positive (Negative)

REVENUES
Developer Contributions

 $	115,573	$	78,606	$	36,967 

Total revenues	115,573	78,606	36,967

EXPENDITURES
Current:
General government	115,573	68,911	46,662	
Total expenditures	115,573	68,911	46,662	

Excess (deficiency) of revenues over (under) expenditures	

 $	-		

9,695	

 $	9,695 	
Fund balance - beginning			-			
Fund balance - ending		 $	9,695 		

See notes to required supplementary information

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the period from inception November 21, 2024 to September 30, 2025.

WHITE CLAY COMMUNITY DEVELOPMENT DISTRICT CITY OF HAINES CITY, FLORIDA
OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE PERIOD FROM INCEPTION NOVEMBER 21, 2024 TO SEPTEMBER 30, 2025 UNAUDITED

Element	Comments
Number of District employees compensated in the last pay period of the District’s fiscal year being reported.	
0	

Number of independent contractors compensated to whom nonemployee compensation was paid in the last month of the District’s fiscal year being reported.	

2	
Employee compensation	$3,600	
Independent contractor compensation	$64,647	
Construction projects to begin on or after October 1; (>$65K)	N/A	

Budget variance report	
See the Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund	
Ad Valorem taxes;	Not applicable	
		
Non ad valorem special assessments;		
Special assessment rate	Operations and maintenance - $0
Debt Service - $0	
Special assessments collected
Outstanding Bonds:	$0	
	Not applicable	

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Board of Supervisors
White Clay Community Development District City of Haines City, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of White Clay Community Development District, City of Haines City, Florida (“District”) as of and for the period from inception November 21, 2024 to September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated May 20, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

May 20, 2026

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
White Clay Community Development District City of Haines City, Florida
We have examined White Clay Community Development District, City of Haines City, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the period from inception November 21, 2024 to September 30, 2025. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination.

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

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

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the period from inception November 21, 2024 to September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Supervisors of White Clay Community Development District, City of Haines City, Florida and is not intended to be and should not be used by anyone other than these specified parties.

May 20, 2026

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
White Clay Community Development District City of Haines City, Florida

Report on the Financial Statements
We have audited the accompanying basic financial statements of White Clay Community Development District, City of Haines City, Florida ("District") as of and for the period from inception November 21, 2024 to September 30, 2025, and have issued our report thereon dated May 20, 2026.

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

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated May 20, 2026, should be considered in conjunction with this management letter.

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

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

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

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

May 20, 2026

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS
None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

Not applicable. First year audit.

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
Not applicable. First year audit.
Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the period from inception November 21, 2024 to September 30, 2025.
Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material, but which warrants the attention of those charged with governance.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the period from inception November 21, 2024 to September 30, 2025.
The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

We applied financial condition assessment procedures, and no deteriorating financial conditions were noted. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.
Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 20.

Section VIII

Section A

White Clay Community Development District Performance Measures/Standards &
Annual Reporting Form
October 1, 2026 – September 30, 2027

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

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of each meeting in accordance with Florida Statutes, using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication.
Standard: 100% of meetings were advertised in accordance with Florida Statutes, on at least two mediums (i.e., newspaper, CDD website, electronic communications). Achieved: Yes ☐ No ☐

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.
Standard: 100% of monthly website checks were completed by District Management.
Achieved: Yes ☐ No ☐
 Financial Transparency and Accountability
Goal 2.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and ﬁnal budget was adopted by September 30 each year.

Measurement: Proposed budget was approved by the Board before June 15 and ﬁnal budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes ☐ No ☐
Goal 2.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current ﬁscal year budget with any amendments, and most recent ﬁnancials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and ﬁnancials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended ﬁscal year budget, and most recent agenda package with updated ﬁnancials.
Achieved: Yes ☐ No ☐
Goal 2.3: Annual Financial Audit
Objective: Conduct an annual independent ﬁnancial audit per statutory requirements and publish the results to the CDD website for public inspection and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing ﬁrm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes ☐ No ☐

Chair/Vice Chair:		Date:	 Print Name:	 
White Clay Community Development District

District Manager:		Date:	 Print Name:	 
White Clay Community Development District

Section B

White Clay Community Development District Performance Measures/Standards &
Annual Reporting Form
October 1, 2025 – September 30, 2026

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

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of each meeting in accordance with Florida Statutes, using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication.
Standard: 100% of meetings were advertised in accordance with Florida Statutes, on at least two mediums (i.e., newspaper, CDD website, electronic communications). Achieved: Yes ☐ No ☐

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.
Standard: 100% of monthly website checks were completed by District Management.
Achieved: Yes ☐ No ☐
 Financial Transparency and Accountability
Goal 2.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and ﬁnal budget was adopted by September 30 each year.

Measurement: Proposed budget was approved by the Board before June 15 and ﬁnal budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes ☐ No ☐
Goal 2.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current ﬁscal year budget with any amendments, and most recent ﬁnancials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and ﬁnancials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended ﬁscal year budget, and most recent agenda package with updated ﬁnancials.
Achieved: Yes ☐ No ☐
Goal 2.3: Annual Financial Audit
Objective: Conduct an annual independent ﬁnancial audit per statutory requirements and publish the results to the CDD website for public inspection and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing ﬁrm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes ☐ No ☐

Chair/Vice Chair:		Date:	 Print Name:	 
White Clay Community Development District

District Manager:		Date:	 Print Name:	 
White Clay Community Development District

Section IX

Section C

Section 1

White Clay Community Development District

Summary of Check Register

April 19, 2026 to May 19, 2026

Fund	Date	Check No.'s	Amount

General Fund		
	5/1/26	51-51	$	21,260.00	
	5/7/26	52-52	$	250.00	
	5/14/26	53-53	$	1,993.49	

Total Amount	$	23,503.49

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/22/26	PAGE	1
*** CHECK DATES 04/19/2026 - 05/19/2026 ***	WHITE CLAY - GENERAL FUND

CHECK	VEND# DATE	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS		AMOUNT	....CHECK..... AMOUNT	#	
5/01/26 00010	3/31/26 022709	202604 300-20700-10200	*		8,200.00		
	031 FR#1
3/31/26 022710	202604 300-20700-10200	*
ABSOLUTE ENGINEERING INC		13,060.00	

21,260.00 000051	
- - - - - - - - 5/07/26 00005	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/16/26 22485791 202603 310-51300-31100	*
DEWBERRY ENGINEERS INC.	- - - -	- - - - - -	- - - - - - - -

250.00 000052	
- - - - - - - - 5/14/26 00002	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/26 19	202605 310-51300-34000	*
5/01/26 19	202605 310-51300-35200	*	- - - -	- - - - - -

100.00	- - - - - - - -	
	WEBSITE ADMIN MAY26
5/01/26 19	202605 310-51300-35100	*		150.00		
	INFORMATION TECH MAY26
5/01/26 19	202605 310-51300-51000	*		.03		
	OFFICE SUPPLIES MAY26
5/01/26 19	202605 310-51300-42000	*		76.79		
	POSTAGE MAY26
GOVERNMENTAL MANAGEMENT SERVICES-CF			1,993.49 000053	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- - - -	- - - - - -	- - - - - - - -	
	TOTAL FOR BANK A		23,503.49		
	TOTAL FOR REGISTER		23,503.49		

BANK A GENERAL FUND

031 FR#1

ENGINEER SVCS MAR26

250.00

MANAGEMENT FEES MAY26

1,666.67

WHCL WHITE CLAY CDD ZYAN

Section 2

White Clay
Community Development District

Unaudited Financial Reporting
April 30, 2026

Table of Contents

	Balance Sheet

	General Fund

	Capital Projects

	Month to Month

	White Clay
Community Development District Combined Balance Sheet
April 30, 2026		
	General Fund		Capital Projects Fund	Totals Governmental Funds	
Assets:
Cash:
Operating Account	

$	25,345	

$	

-	

$	25,345	
Due From Developer	$	20,000	$	-	$	20,000	
Total Assets	$	45,345	$	-	$	45,345	
Liabilities:
Accounts Payable	

$	24,410	

$	

-	

$	24,410	
Total Liabilites	$	24,410	$	-	$	24,410	
Fund Balance: Restricted for: Unassigned	

$	20,935	

$	

-	

$	20,935	
Total Fund Balances	$	20,935	$	-	$	20,935	
					
Total Liabilities & Fund Balance	$	45,345	$	-	$	45,345	

White Clay
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2026

	Adopted	Prorated Budget	Actual		
	Budget	Thru 04/30/26	Thru 04/30/26		Variance	

Revenues:						
Developer Contributions	$  393,542	$	40,000	$	40,000	$	-	
Interest	$	-	$	-	$	80	$	80	
Total Revenues	$  393,542	$	40,000	$	40,080	$	80	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	7,000	$	800	$	6,200	
FICA Expense	$	900	$	525	$	61	$	464	
Engineering	$	15,000	$	8,750	$	250	$	8,500	
Attorney	$	25,000	$	14,583	$	4,105	$	10,478	
Annual Audit	$	4,000	$	4,000	$	2,900	$	1,100	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	
Dissemination	$	5,000	$	-	$	-	$	-	
Trustee Fees	$	4,042	$	-	$	-	$	-	
Management Fees	$	40,000	$	23,333	$	11,667	$	11,667	
Information Technology	$	1,800	$	1,050	$	1,050	$	-	
Website Maintenance	$	1,200	$	700	$	2,450	$	(1,750)	
Postage & Delivery	$	1,000	$	583	$	69	$	514	
Insurance	$	6,350	$	6,350	$	5,000	$	1,350	
Printing & Binding	$	1,000	$	583	$	-	$	583	
Legal Advertising	$	15,000	$	8,750	$	-	$	8,750	
Other Current Charges	$	5,000	$	2,917	$	309	$	2,608	
Office Supplies	$	625	$	365	$	3	$	361	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative	$  143,542	$	84,665	$	28,839	$	55,825	

Operations & Maintenance					
Field Expenditures
Field Contingency	

$  250,000	

$	145,833	

$	-	

$	145,833	
Subtotal Field Expenditures	$  250,000	$	145,833	$	-	$	145,833	
					
Total Operations & Maintenance	$  250,000	$	145,833	$	-	$	145,833	
					
Total Expenditures	$  393,542	$	230,498	$	28,839	$	201,658	
					
Excess (Deficiency) of Revenues over Expenditures	$	-		$	11,240		
					
Fund Balance - Beginning	$	-		$	9,695		
					
Fund Balance - Ending	$	-		$	20,935		

White Clay
Community Development District Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending April 30, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/26	Thru 04/30/26	Variance	

Revenues

Developer Advance	

$	

-	$	

-	$	21,758	

$	21,758	
Total Revenues	$	-	$	-	$	21,758	$	21,758	

Expenditures:

Capital Outlay - COI	

$	

-	$	

-	$	21,758	

$	(21,758)	
Total Expenditures	$	-	$	-	$	21,758	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	-		
					
Net Change in Fund Balance	$	-	$	-		
					
Fund Balance - Beginning			$	-		
					
Fund Balance - Ending			$	-		

White Clay
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Developer Contributions	$	20,000	$	-	$	-	$	-	$	-	$	-	$	20,000	$	-	$	-	$	-	$	-	$	-	$	40,000	
Interest	$	-	$	-	$	0	$	20	$	24	$	21	$	15	$	-	$	-	$	-	$	-	$	-	$	80	
Total Revenues	$	20,000	$	-	$	0	$	20	$	24	$	21	$	20,015	$	-	$	-	$	-	$	-	$	-	$	40,080	

Expenditures:									
General & Administrative:									
Supervisor Fees	$	-	$	-	$	-	$	-	$	-	$	800	$	-	$	-  $	-  $	-  $	-  $	-  $	800	
FICA Expense	$	-	$	-	$	-	$	-	$	-	$	61	$	-	$	-  $	-  $	-  $	-  $	-  $	61	
Engineering	$	-	$	-	$	-	$	-	$	-	$	250	$	-	$	-  $	-  $	-  $	-  $	-  $	250	
Attorney	$	218	$	203	$	549	$	129	$	324	$	2,683	$	-	$	-  $	-  $	-  $	-  $	-  $	4,105	
Annual Audit	$	-	$	-	$	-	$	2,900	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	2,900	
Assessment Administration	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Arbitrage	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Dissemination	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Trustee Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Management Fees	$	1,667	$	1,667	$	1,667	$	1,667	$	1,667	$	1,667	$	1,667	$	-  $	-  $	-  $	-  $	-  $	11,667	
Information Technology	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	-  $	-  $	-  $	-  $	-  $	1,050	
Website Maintenance	$	1,850	$	100	$	100	$	100	$	100	$	100	$	100	$	-  $	-  $	-  $	-  $	-  $	2,450	
Postage & Delivery	$	2	$	34	$	2	$	9	$	7	$	11	$	4	$	-  $	-  $	-  $	-  $	-  $	69	
Insurance	$	5,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	5,000	
Printing & Binding	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Legal Advertising	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
Other Current Charges	$	52	$	53	$	47	$	39	$	39	$	39	$	39	$	-  $	-  $	-  $	-  $	-  $	309	
Office Supplies	$	0	$	0	$	0	$	0	$	0	$	3	$	0	$	-  $	-  $	-  $	-  $	-  $	3	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	175	
Total General & Administrative	$	9,114	$	2,207	$	2,515	$	4,994	$	2,286	$	5,763	$	1,961	$	-  $	-  $	-  $	-  $	-  $	28,839	

Operations & Maintenance									
Field Expenditures
Field Contingency	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-  $	-  $	-  $	-  $	-  $	-	
Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
									
Total Operations & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-	
									
Total Expenditures	$	9,114	$	2,207	$	2,515	$	4,994	$	2,286	$	5,763	$	1,961	$	-  $	-  $	-  $	-  $	-  $	28,839	
									
Excess (Deficiency) of Revenues over Expenditures	$	10,886	$	(2,207)	$	(2,515)	$	(4,974)	$	(2,262)	$	(5,742)	$	18,054	$	-  $	-  $	-  $	-  $	-  $	11,240	

Section 3

April 15, 2026

Samantha Ham – Recording Secretary White Clay CDD
219 E. Livingston St.
Orlando, FL 32801

RE: White Clay Community Development District Registered Voters

Dear Ms. Ham,
In response to your request, there are currently 0 voters within the White Clay Community Development District as of April 15, 2026.
Please do not hesitate to contact us if we can be of further assistance.

Sincerely,

Melony M. Bell Supervisor of Elections Polk County, Florida