Portofino Shores Community Development District
http://www.portofinoshorescdd.com

Michael Luton, Chairman Ingrid Grubb, Vice Chairman
Tracy Belle, Assistant Secretary Sheryl Eddy, Assistant Secretary
Janelle Anne Hertz, Assistant Secretary

February 3, 2026

Seat 1: Michael Luton (C.)	
Seat 3: Ingrid Grubb (V.C.)	
Seat 5: Tracy Belle (A.S.)	
Seat 4: Sheryl Eddy (A.S.)	
Seat 4: Janelle Anne Hertz (A.S.)	

Portofino Shores
Community Development District
Agenda
Tuesday	Shores Clubhouse
February 3, 2026	5720 Spanish River Road, Ft. Pierce, FL 3:00 p.m.		Join the Meeting Now
Meeting ID: 267 814 351 389 65 and Passcode: 9NJ9SK3f
1 872-240-4685 and Phone Conference ID: 480 474 435#

Roll Call

Approval of the Minutes of the November 4, 2025 Meeting – Page 3
Discussion of:
Trimming of Oak Trees on the Street Side of Common Area
Adding Sealing to Front and Back Entrances
Stripping of Roads, Cleaning and Painting the Ada Sections of Sidewalks
Update on:
Front Entrance Road Repair and Other Areas Where the Road Is Raised or Damaged by Tree Roots

Sunken Power Junction on Spanish River Road

Preserve Cleanup Status

Staff & Officer Reports
Attorney

Engineer

Manager/Secretary

Field Manager – Monthly Field Report – Page 14

Treasurer – Financial Reports
Approval of Check Register – Page 18

Acceptance of Unaudited Financials – Page 22

Audience & Supervisors Remarks

Adjournment
Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: http://www.portofinoshorescdd.com

MINUTES OF MEETING PORTOFINO SHORES
COMMUNITY DEVELOPMENT DISTRICT
A regular meeting of the Board of Supervisors of the Portofino Shores Community Development District was held on Tuesday, November 4, 2025 at 2:30 p.m. at the Shores Clubhouse, 5720 Spanish River Road, Ft. Pierce, Florida.

Present and constituting a quorum:
Michael Luton	Chairman
Ingrid Grubb	Vice Chairman
Sheryl Eddy	Assistant Secretary
Janelle Anne Hertz	Assistant Secretary
Tracy Belle	Assistant Secretary Also present were:
Andressa Hinz Philippi	District Manager
Matt Hans	GMS
Seth Behn	District Counsel
Stef Matthes	District Engineer
Several Residents	See sign-in sheet for names

FIRST ORDER OF BUSINESS	Roll Call

Mr. Luton called the meeting to order, and Ms. Hinz Philippi called the roll.

SECOND ORDER OF BUSINESS	Organizational Matters
Acceptance of Resignation Letter from Ms. Deborah Pariseau
Consideration of Appointment of Supervisor(s) to Unexpired Term(s) of Office – Seat #5
Oath of Office for Newly Appointed Supervisor(s)
Election of Officer(s)
Mr. Luton: The first order of business is to accept the resignation of Deborah Pariseau from the Board. Do I have a motion for that?

On MOTION by Ms. Grubb seconded by Ms. Hertz with all in favor, the Acceptance of the Resignation Letter from Ms. Deborah Pariseau was approved.

Mr. Luton: Now the consideration to fill the unexpired term. We would like to nominate Tracy Belle who is present today to fill that seat. Do I have a motion that we accept her?

On MOTION by Ms. Grubb seconded by Ms. Eddy with all in favor, the nomination of Tracy Belle to fill Seat #5 for the Board of Supervisors was approved.

Mr. Luton: You can come on up Tracy and Andressa will present the oath of office to you.
Ms. Hinz Philippi: Right now I just have to read it and then you say your name and I do. I,
Ms. Belle: Tracy Belle.
Ms. Hinz Philippi: A resident of the State of Florida and a citizen of the United States of America and being a Supervisor of the Portofino Shores Community Development District and recipient of public funds on behalf of the District due hereby solemnly swear and affirm that I will support the Constitution of the United States and the State of Florida and will faithfully, honestly, and impartially discharge the duties devolving upon me in the office of Supervisor of the Portofino Shores Community Development District, St. Lucie, County, Florida.
Ms. Belle: I do.
Ms. Hinz Philippi: Thank you. Welcome to our Board. Since we did have the oath we are going to have to go to the election of officers again. If the Board wants just to suggest, I don’t know if that is the case, but Debby was the Vice Chair. Mike is our Chair and everybody else is an Assistant Secretary. We just need to appoint a Vice Chair, then if you want, you can keep the same slate of officers, just with the new Vice Chair.
Mr. Luton: I would suggest that we keep the same positions, and I would nominate Ingrid Grubb to be the Vice Chair. Do I have a motion for that?
Ms. Hertz: I move that we nominate Ingrid for the Vice Chair.

On MOTION by Ms. Hertz seconded by Ms. Eddy with all in favor, the slate of officers will remain the same with the nomination of Ingrid Hertz as the Vice Chair was approved.

Ms. Hinz Philippi: Tracy will be an Assistant Secretary for the record.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the
August 5, 2025 Meeting
Mr. Luton: Next on the agenda is the approval of the minutes from August 5, 2025.
Do I have a motion to approve the minutes? Any corrections?
Ms. Grubb: I only had one on the adjournment page. It said Mr. Grubb. It should be Ms. Grubb.

On MOTION by Ms. Grubb seconded by Ms. Eddy with all in favor, the Minutes of August 5, 2025 Meeting were approved.

FOURTH ORDER OF BUSINESS	Consideration of:
Resolution #2026-01 Budget Amendment for Fiscal Year 2025
Consideration of Engagement Letter with Grau & Associates to perform the Audit for Fiscal Year Ending September 30, 2025
Mr. Luton: The next item is the consideration of Resolution #2026-01 Budget Amendment for Fiscal Year 2025.
Ms. Hinz Philippi: That means that when we did our plans for 2025 we did not expect to spend what we have been spending on sidewalks and repairs here and there. Our numbers need to look exactly the same for auditing purposes. Every time that does happen, we have to make a budget amendment so that we have all the numbers together. We didn’t spend money that we didn’t have. We had it allocated in other parts of the budget. Every time we do take it from one part of the part and use it for another, we have to do an amendment.
Mr. Luton: Do I have a motion to accept the Resolution #2026-01?

On MOTION by Ms. Eddy seconded by Ms. Grubb with all in favor, Resolution #2026-01 Budget Amendment for Fiscal Year 2025 was approved.

Mr. Luton: We have the consideration of the engagement letter with Grau & Associates to perform the audit for fiscal year ending September 30, 2025.
Ms. Hinz Philippi: Remember we did the selection committee. Every five we have to select a company. We selected them. Every year we still get a proposal and agreement. We have a five-year agreement that they gave us.
Mr. Luton: We did that last meeting. There was no increase. Do I have a motion that we accept the engagement letter for our fiscal audit.

On MOTION by Ms. Grubb seconded by Ms. Hertz with all in favor, the Engagement Letter with Grau & Associates to Perform the Audit for Fiscal Year Ending September 30, 2025 was approved.

FIFTH ORDER OF BUSINESS	Ratification	of	Contractor
Agreement Between Portofino Shores	Community Development District and Venice Commercial Services, Inc. for the Provisions of Certain Landscape Material Purchase and Installation
Mr. Luton: The next item is the ratification of the Venice Commercial Services. Mr. Hans: This is for the apron project.
Mr. Luton: I think we talked about this at the last meeting. You were going to go o out and check.
Mr. Hans: We went out and repaired.
Mr. Luton: Do I have a motion to approve the agreement between Portofino Shores and the Venice Commercial Services?

On MOTION by Ms. Hertz seconded by Ms. Eddy with all in favor, Ratification of Contractor Agreement Between Portofino Shores  Community  Development  District  and  Venice

Commercial Services, Inc. for the Provision of Certain Landscape Material Purchase and Installation was approved.

SIXTH ORDER OF BUSINESS	Status of:
Apron Progress and Next Steps (Owners who have Identified Issues with their Properties)
Preserve Tree Removals
New Signs Provided Posted
Necessary Tree Replacements
Mr. Luton: The next is the status of the apron project and various projects we have going on in the development. I assume Matt is going to address that.
Mr. Hans: We will start with the apron project. We have completed the project along Spanish River, Place Lake, and we are almost finished on Spring Lake Terrace. They had started working on Sunberry Circle as well and making their way around that section of the community. Once they complete that Sunberry section they will be moving onto the Arlington section as well. All the basins will be finished hopefully right before Thanksgiving so everybody should have a nice, completed driveway for the holidays.
Mr. Luton: There are a couple of people who come to me and say that they are not on the list. There is somebody across the street from me that has a really bad apron, but they are not on the list.
Mr. Hans: In Sunberry? Mr. Luton: Yes.
Mr. Hans: I have not been reached out to personally by anyone in Sunberry. Have them reach out to me and I will get out there.
Mr. Luton: Let me just tell you to come on out and see me. She is right across the

street.

Mr. Hans: Ok.
Mr. Luton: Also, when they replaced some pavers on Place Lake, they replaced

one apron with red pavers instead of the normal pavers, so is there a reason for that?
Mr. Hans: They were moving the pavers around, so they ensured that almost every driveway had identical and matching pavers. That one driveway they did not because they used the pavers elsewhere, they had to replace it with a different style paver. They were trying to get it as close to the original as they could.

Mr. Luton: I don’t really care I just didn’t understand why they didn’t mix any of the old in with the new.
Mr. Hans: They wanted it to be all uniform that way. What they have been doing is when they remove the pavers, they have been crushed over time, they weren’t able to use some of the sliced ones the same way. They tried to keep as uniform as possible.
Mr. Luton: That question just came up from a couple of people in the neighborhood asking why. Alright, go ahead.
Mr. Hans: They also completed the Mr. Hans was inaudible at this time. on Nicole Lane and Walnut Park was well.
Mr. Luton: I did see that they pulled up a lot of roots and stuff from under the current pavers in different areas. Were there any trees that needed to come out that were in those areas?
Mr. Hans: They did not let me know of any trees that were truly extensive amounts that grew close to it. I do believe once they get a little further down on Sunberry, there are going to be some trees.
Mr. Luton: Down in the circle those aprons are kind of messed up.
Mr. Hans: There are more trees that we can go back and consider removing as
well.
Mr. Luton: I just know that when we were talking about you said that they may need
to take a tree out here and there to put to this closer to the apron.
Mr. Hans: They haven’t warned me of any that they are concerned about. I will remind them as well.
Ms. Eddy: Your situation is similar to the one that is next door on the loop by me where it is lifted up over where the concrete is and the apron is right there, so it is a recipe for disaster.
Mr. Hans: There is quite a few trees where the root ball is above ground level and those would probably be a good idea to remove.
Mr. Luton: There are a few places where the roots are up against the drainage, the swale. Those probably need to be looked at. I don’t know if they need to be taken out right away, but we can probably do it in another phase.
Mr. Eddy: Do we have an ongoing plan of a list things that we may have to?

Mr. Luton: We have not done that in the past, but we are.
Mr. Hans: We have a few trees, requests as well that people are looking to have removed and look like they should be removed. We did remove a lot of the stuff that was a problem as a well.
Mr. Luton: I think we said that this is a phased project. We have 244 aprons that had to be repaired this time.
Mr. Hans: While we are on the subject of trees as well when we did our tree removal project we did not do the best job on all of our stumps. We do have about six stumps that we would be looking to finish removing. On this proposal as well there is a dead pine in the preserve right behind 5745 Spanish River that is very close to his house. That is also included on this. There is a tree that was missed by Jose as well by 5557 Spanish River. That tree root ball is lifting it off of the ground. It looks like it in danger of falling into this house.
Mr. Luton: So these are the two quotes that you got for that?
Mr. Hans: One is from Jeremy, and one is from Sampson. Jeremy is going everything for $2,900 whereas Sampson is around $3,700.
Mr. Luton: We have used Jeremy.
Ms. Hinz Philippi: Was this? We paid for him to remove the stumps.
Mr. Hans: He is refusing to come back. He has been fired from the HOA. Mr. Hans was inaudible at this time.
Mr. Luton: This also includes the preserve tree removal.
Mr. Hans: Yes and the other spot I was talking about. The two trees he is charging us at rate of $1,000 a tree to remove it and $900 for the six stumps.
Mr. Luton: Do we need a motion to approve this quote from Jeremy’s? Mr. Hans: Yes.
Mr. Luton: Do I have a motion to accept the two tree removals and stump removal?

On MOTION by Ms. Grubb seconded by Ms. Hertz with all in favor, a proposal in the amount of $2,900 from Jeremy’s Tree Service to remove two trees and six stump grindings was approved.

Mr. Hans: The signs for the preserve were replaced on Santa Margarito as well as the ones around the clubhouse. I could use a couple more signs to purchase for Arlington. Those are looking more worn out and the ones at the end of the preserve as well. We had only six signs to replace.
Mr. Luton: We have those signs that run in the back. In the turnpike feeder, all those signs need to be replaced because you can’t even read them.
Mr. Hans: So we need nine. It is $45 a sign for that size sign to replace. Mr. Luton: Less than $450. So do we need a motion for that?
Mr. Hans: Yes, motion to approve not to exceed $405.
Mr. Luton: Let’s make a motion not to exceed $450 in case you have to get a couple of extras..

On MOTION by Ms. Eddy seconded by Ms. Hertz with all in favor, a not to exceed amount of $450 for sign replacement was approved.

Mr. Luton: I have a question on the preserve on Arlington the preserve is encroaching on the sidewalk again. Is that something that we have the HOA landscaper do?
Mr. Hans: Yes that would be something the HOA landscaper would do as the preserve encroaches onto anybody’s property you are allowed to cut it back.
Mr. Luton: Ok.
Mr. Hans: You don’t have to get a special permit or anything.
Mr. Luton: Ok. Then I assume the same would be true if we trimmed some branches that are over the sidewalk.
Mr. Hans: Yes.
Mr. Luton: I guess the next is necessary tree replacement.
Mr. Hans: We do have the one tree which we actually talked about this a little bit earlier. We have one tree along Spanish River that didn’t pull through. They are ready to replace it for us. That homeowner has actually asked for the tree not to go back there. They like not having a tree in front of their house. There is another right next it about ten feet away as well. We could move that tree somewhere else in the community as well.

We have a few spots where we have removed trees. In terms of other necessary tree replacements I think we should wait until after we finish the sidewalks and paver project and see how many we have in total.
Mr. Luton: Seems logical. Any objection to that?
Mr. Hertz: The ones we are replacing now are still under warranty, right?
Mr. Hans: Yes, the one that is dead is under warranty. They are going to be giving us a free tree. That homeowner doesn’t want in front of their house so we will put in one of the other places where we have had to remove trees.
Mr. Luton: Ok, good.

SEVENTH ORDER OF BUSINESS    Staff & Officer Reports
Attorney
Mr. Luton: The first up is the attorney. Do you have anything for us?
Mr. Behn: I do not. I did some contract review stuff. I was going to lead into the managers’ goals and objections, which is a statuary requirement that we went through but other than that it has been relatively quiet on my end.
Mr. Luton: That is what we like to hear.
Engineer
Mr. Luton: Stef it is good to see you back. How are you doing? Mr. Matthes: Very well thank you.
Mr. Luton: What do you have new to report? Mr. Matthes: Nothing new to report.
Mr. Luton: I don’t think we have had any issues with drainage or anything like that with all the rain we have had. I think we are pretty good.
Manager/Secretary – Final Approval of the FY2024 Report Performance Measures and Standards
Mr. Luton: The final approval of the Performance Measures on page 40.
Ms. Hinz Philippi: We presented this last year, and we said at the end of the year we would have to review it and see if we met our goals and objectives. We did so these are all the things we already do. We reply to requests from residents. We post our meetings. All the things like the audit every year, all those goals and objectives that we have already. We just mark it that we achieved it and then we just need a motion to accept.

On MOTION by Ms. Hertz seconded by Ms. Eddy with all in favor, the final approval of the Fiscal Year 2024 -2025 Report Performance Measures and Standards was approved.

Field Manager – Monthly Field Report
Mr. Luton: Do you have anything additional to report?
Mr. Hans: There was one item. We are in the process of doing the reporting for the South Florida Water Management District on the well use and the water pump use. I have found one of our wells we do have the ability to manually to turn it off for future reference there.
Mr. Luton: Ok.
Ms. Grubb: When would we do that?
Mr. Hans: If the well the automatic unit dies for whatever reason. One of our wells automatically refills the lakes based off if it goes below a certain point essentially. The amount that we are pulling out from the Hoover pumps. It will fill up the exact amount that we do from the Hoover pumps.
Mr. Luton: Then you could do it manually. Can you explain to me a little bit about the farm water assessment that the HOA gets? This is an HOA thing, but I am confused as to what we are actually paying for.
Ms. Grubb: It is on our taxes.
Mr. Hans: From what I was explained about this there was a lawsuit that the community actually had with this well over 13 years ago where we were trying to get decided this agreement was signed by the developer and he tied it with the HOA to be responsible for paying this far water assessment for the canal that runs back that is part of a small management shed. The courts determined that even though it is signed by the developer, the community had nothing to do with it that the HOA was still going to be responsible for it because they signed for it essentially. There is no answer except we are stuck paying for this in perpetuity.
Mr. Luton: Is it for maintaining the canal and things like that?
Mr. Matthes: It is for the acceptance of the stormwater outfall from the District. It is part of the larger and there is a caveat it is not part of the litigation but I Mr. Matthes was

inaudible at this time. It is for the acceptance of your stormwater outfall and the maintenance of that overall system.
Mr. Luton: Thank you very much.
Treasurer – Financial Reports
Approval of Check Register
Acceptance of Unaudited Financials
Mr. Luton: Financial reports. Any questions for the financials? Do I have a motion that we approve the check register?

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

Mr. Luton: The next one is the approval of the unaudited financials. Do we have a motion that we approve the financial report for the period on page 53?

On MOTION by Ms. Eddy seconded by Ms. Grubb with all in favor, the acceptance of the Unaudited Financials were approved.

EIGHTH ORDER OF BUSINESS	Audience & Supervisor Remarks
Mr. Luton: Any comments from the audience or Supervisors? Hearing none, do I hear a motion to adjourn the meeting?

NINTH ORDER OF BUSINESS	Adjournment

On MOTION by Ms. Eddy seconded by Ms. Grubb with all in favor, the meeting was adjourned.

Assistant Secretary/Secretary	Chairman/Vice Chairman

PORTOFINO SHORES CDD
FIELD REPORT

FEBRAUARY 3, 2026
Governmental Management Services-South Florida, LLC 5385 N. Nob Hill Road Sunrise, FL 33351

PORTOFINO SHORES CDD

Driveway Apron Repair Project
Work on the driveway apron repair project has officially was completed 12/2/25
A total of 260 driveways were repaired during the project.
Common Area’s

Tree Removal
Jermey’s Tree Service is scheduled to remove the trees on 1/27/26

Owner/operator was in the hospital for the entire month of December and the early part of January, their operations were suspended and work was delayed
Stump grinding
Stump grinding is also scheduled to be completed on 1/27/26

Sunken FPL Box
work order created for repairs has been made with FPL the ticket number is 1031

we will continue to check on the status of this project with FPL

Roof Shingle Pile

Jermey’s Tree Service is removing the pile when they are removing the trees and stumps on Tuesday 1/27/26

Preserve Sign Replacement
New preserve signs and no trespassing signs were installed along turnpike feeder road
2 preserve signs were replaced

6 no trespassing signs were replaced

Lakes
All lakes throughout the community are currently in good condition.
There are no significant issues or concerns to report at this time.

Portofino Shores	
COMMUNITY DEVELOPMENT DISTRICT	

Check Register

10/01/25 - 12/31/25

Date	check #'s	Amount	

10/01/25 - 10/31/25	1346-1350	$	47,798.74	

11/01/25 - 11/30/25	1351-1355	$	127,980.18	

12/01/25 - 12/31/25	1356-1361	$	269,368.32	

TOTAL	$	445,147.24	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/26	PAGE	1
*** CHECK DATES 10/01/2025 - 12/31/2025 ***	PORTOFINO SHORES - GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
10/10/25 00006 10/01/25 92763	202510 310-51300-54000	*	175.00
SPECIAL DISTRICT FEE FY26
FLORIDACOMMERCE	175.00 001346
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/10/25 00073	9/30/25 7353208	202509 310-51300-48000	*	111.76
NOTICE OF FY26 MEETINGS
GANNETT FLORIDAIQ	111.76 001347

10/10/25 00021	9/15/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
278	202510 310-51300-31300	*	5,600.00
FY26 ASSESSMENT ROLL CERT

OCT	25	- MGMT FEES	
279		202510 310-51300-44000	
OCT	25	- RENT	
279		202510 310-51300-35100	
OCT	25	- COMPUTER TIME	
279		202510 310-51300-49500	
OCT	25	- WEBSITE ADMIN	
279		202510 310-51300-42000	
OCT	25	- POSTAGE	
280		202510 320-53800-34000	
OCT	25	- FIELD SERVICES	

279	202510 310-51300-34000	*	4,640.00
*	200.00
*	100.00
*	100.00
*	1.48
*	1,337.50
GOVERNMENTAL MANAGEMENT SERVICES -	11,978.98 001348
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/10/25 00003 10/02/25 WGC-1654 202509 310-51300-31500	*	1,083.00 SEP 25 - ATTORNEY FEES
LEWIS, LONGMAN & WALKER, PA	1,083.00 001349
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/10/25 00079 10/06/25 1667	202510 320-53800-46500	*	34,450.00
20% DEP PAVER REPAIRS
VENICE COMMERCIAL SERVICES, INC.	34,450.00 001350
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/25 00054 10/23/24 4	202510 310-51300-49000	*	100.00
AMORT SCHEDULE
DISCLOSURE SERVICES LLC	100.00 001351

11/07/25 00021	11/01/25	
	11/01/25	
	11/01/25	
	11/01/25	
	11/01/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
283	202511 320-53800-34000	*	1,337.50
NOV 25 - FIELD SERVICES
284	202511 310-51300-34000	*	4,640.00
NOV 25 - MGMT FEES
284	202511 310-51300-44000	*	200.00
NOV 25 - RENT
284	202511 310-51300-35100	*	100.00
NOV 25 - COMPUTER TIME
284	202511 310-51300-49500	*	100.00
NOV 25 - WEBSITE ADMIN
PORS --PORT SHORE-- ACOOPER

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/26	PAGE	2
*** CHECK DATES 10/01/2025 - 12/31/2025 ***	PORTOFINO SHORES - GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/01/25 284	202511 310-51300-42000	*	5.18
NOV 25 - POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES -	6,382.68 001352
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/07/25 00003 11/04/25 WGC-1657 202510 310-51300-31500	*	922.50

	LEWIS,	LONGMAN & WALKER, PA										922.50	001353	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - -	- - - - - - - - - - - - -	-	-	-	- -	-	-	-	-	- - - - - -	- - - - -	- - -	
11/07/25 00079	10/24/25 1688	202510 320-53800-46500					*					51,675.00			
	30% DEP PAVER REPAIRS													
	VENICE	COMMERCIAL SERVICES, INC.										51,675.00	001354	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - -	- - - - - - - - - - - - -	-	-	-	- -	-	-	-	-	- - - - - -	- - - - -	- - -	
11/20/25 00079	11/11/25 1703	202511 320-53800-46500					*					68,900.00			
	PAVER REPAIR & RESET													

OCT 25 - ATTORNEY FEES

VENICE COMMERCIAL SERVICES, INC.	68,900.00 001355
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/08/25 00002 11/18/25 9-071-20 202511 310-51300-42000	*	32.96

FEDEX	32.96	001356	
- - - - - - - -	- - - - - - -	- -	- - - - - - - - - - - - -	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	- -	-	-	-	-	-	-	- - - -	- - - - -	- - -	
285	202512	320-53800-34000	*	1,337.50	
DEC	25	- FIELD	SERVICES	
286	202512	310-51300-34000	*	4,640.00	
DEC	25	- MGMT FEES	
286	202512 310-51300-44000	*	200.00	
DEC	25	- RENT	
286	202512 310-51300-35100	*	100.00	
DEC	25	- COMPUTER TIME	
286
DEC	25	202512 310-51300-49500	*	100.00	
286	202512 310-51300-51000	*	17.50	
DEC	25	- WEBSITE ADMIN	
286	202512 310-51300-42000	*	1.48	
DEC	25	- POSTAGE	
286	202512 310-51300-42500	*	13.80	
DEC	25	- COPIES	

12/08/25 00021	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	

DELIVERIES THRU 11/7/25

- OFFICE SUPPLIES

GOVERNMENTAL MANAGEMENT SERVICES -	6,410.28 001357
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/08/25 00003 12/02/25 WGC-1662 202511 310-51300-31500	*	2,152.50 NOV 25 - ATTORNEY FEES
LEWIS, LONGMAN & WALKER, PA	2,152.50 001358
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/08/25 00041 12/01/25 INV-1407 202512 310-51300-31301	*	7,507.58
2025 TRIM NOTICE & ROLL
MICHELLE FRANKLIN ATTN: FINANCE	7,507.58 001359
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
PORS --PORT SHORE-- ACOOPER

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/26	PAGE	3
*** CHECK DATES 10/01/2025 - 12/31/2025 ***	PORTOFINO SHORES - GENERAL

CHECK	VEND# DATE	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS					AMOUNT	....CHECK.....
AMOUNT	#	
12/08/25 00052	12/08/25 12082025 202512 300-15100-10000	*					200,000.00	

- - - - - - - -	TXFER EXCESS FUNDS TO SBA
PORTOFINO SHORES CDD
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	
-	
-	
-	
-	200,000.00 001360
- - - - - - - - - - - - - -	
12/08/25 00079	12/02/25 1722	202512 320-53800-46500	*
12/02/25 1723	202512 320-53800-46500	*					17,225.00
36,040.00	
	CHANGE ORDER #1
VENICE COMMERCIAL SERVICES, INC.					53,265.00 001361	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	- - - - - - - - - - - - - -	
	TOTAL FOR BANK A					445,147.24	
	TOTAL FOR REGISTER					445,147.24	

BANK A GENERAL FUND

BALANCE PAVER REPAIRS

PORS --PORT SHORE-- ACOOPER

Portofino Shores	
Community Development District	

Unaudited Financial Reporting	
December 31, 2025	

Table of Contents

1		Balance Sheet

2-3		General Fund

4			Allocation of Lake Bank Restoration Reserves	

5

6

7-8

9

	Allocation of Infrastructure Reserves

	Debt Service Fund Series 2021

	Month to Month

	Long Term Debt Report

10		Assessment Receipt Schedule

Portofino Shores	
Community Development District	
Combined Balance Sheet	
December 31, 2025	

General	Debt Service	Totals	
Fund	Fund	Governmental Funds	

Assets:	
Cash:	
Operating Account	
Due from General Fund	

$	92,683	
-	

$	-	
31,549	

$	92,683	
31,549	

Investments:	
State Board of Administration (SBA)	

469,604	-	469,604

Series 2021:	
Interest	
Revenue	
Sinking	

-	
-	
-	

13	
275,727	
2,078	

13	
275,727	
2,078	

Total Assets	$	562,287	$	309,368	$	871,654	
Liabilities:	
Accounts Payable	$	852	$	-		$	852	
Due to Debt Service	31,549		-	31,549	

Total Liabilites	$	32,401	$	-	$	32,401

Fund Balance:	
Restricted for:	
Debt Service	
Assigned for:	
Capital Reserves (Lake Bank)	
Capital Reserves (Infrastructure)	
Unassigned	

$	-	$

309,368	$

309,368

107,203	
112,250	
310,433	

	
-	
-	
-	

	
107,203	
112,250	
310,433	

Total Fund Balances	$	529,886	$	309,368	$	839,253	
				
Total Liabilities & Fund Balance	$	562,287	$	309,368	$	871,654	

Portofino Shores	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending December 31, 2025	

Revenues:		
Special Assessments - On Roll	$	431,143	
Interest Income	8,000	

	
$	371,767	
2,000	

	
$	371,767	
3,621	

	
$	-	
1,621	

Total Revenues	$	439,143	$  373,767	$  375,388	$	1,621	
Expenditures:					
General & Administrative:					
Engineering	$	25,000	$	6,250	$	852	$	5,398	
Attorney	35,000	8,750	3,075	5,675	
Annual Audit	3,700	925	-	925	
Assessment Administration	5,600	5,600	5,600	-	
Trustee Fees	4,000	-	-	-	
Management Fees	55,680	13,920	13,920	-	
Property Appraiser	5,865	5,865	7,508	(1,643)	
Information Technology	1,200	300	300	-	
Website Maintenance	1,200	300	300	-	
Telephone	100	25	-	25	
Postage & Delivery	2,000	500	41	459	
Insurance General Liability	8,400	8,295	8,295	-	
Printing & Binding	1,000	250	14	236	
Rental & Leases	2,400	600	600	-	
Legal Advertising	1,500	375	-	375	
Other Current Charges	1,250	313	354	(41)	
Office Supplies	400	100	18	83	
Dues, Licenses & Subscriptions	175	175	175	-	
Capital Outlay	250	63	-	63	
Contincency	5,923	1,481	100	1,381	
Total General & Administrative	$	160,643	$	54,086	$	41,151	$	12,934	

Portofino Shores	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending December 31, 2025	

Operations & Maintenance

Field Expenditures		
Field Maintenance	$	16,050	
Repairs & Maintenance	10,000	
Roadway Maintenance	5,000	
Lake Bank Restoration Reserves	25,000	
Infrastructure Reserve	22,450	
Tree Removal/Pavement Repairs	35,000	
Contingencies	15,000	
Improvements	150,000	

$	4,013	
2,500	
1,250	
6,250	
5,613	
8,750	
3,750	
150,000	

$	4,013	
-	
-	
-	
-	
-	
-	
208,290	

$	-	
2,500	
1,250	
6,250	
5,613	
8,750	
3,750	
(58,290)	

Total Field Expenditures	$	278,500	$  182,125	$  212,303	$	(30,178)	

Total Expenditures	$	439,143	$  236,211	$  253,454	$	(17,243)	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	137,556	$	121,934	$	(15,622)	

Net Change in Fund Balance	$	-	$  137,556	$  121,934	$	(15,622)	
	
Fund Balance - Beginning	$	-		$	407,951		
	
Fund Balance - Ending	$	-		$	529,886		

Portofino Shores	
Community Development District	
General Fund	
Allocation of Lake Bank Restoration Reserves (1)	

Description	Amount

Beginning Balance - (As of 9/30/2012)	$12,777

Additions:

FY 2013 Adopted Budget	
FY 2014 Adopted Budget	
FY 2015 Adopted Budget	
FY 2016 Adopted Budget	
FY 2017 Adopted Budget	
FY 2018 Adopted Budget	
FY 2019 Adopted Budget	
FY 2020 Adopted Budget	
FY 2021 Adopted Budget	
FY 2022 Adopted Budget	
FY 2023 Adopted Budget	
FY 2024 Adopted Budget	
FY 2025 Adopted Budget	
FY 2026 Adopted Budget	

$29,655	
$30,055	
$20,000	
$20,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$25,000	
$362,487	

Subtractions:

FY 2023 Lake Bank Phase II Project (Sea and Shoreline)	
FY 2024 Lake Bank Phase II Project (Sea and Shoreline) Balance	
FY 2024 Lake Bank Phase II Pond 3 Erosion	

($165,277)		
($18,364)		
    ($84,420) 	($268,061)	

Total Capital Reserve Funds as of December 31, 2025	$107,203

(1) Lake Bank Restoration represents costs associated with ongoing lake bank restoration to provide shoreline	
reconstruction and stabilization for the community’s storm water lake systems.	

Portofino Shores	
Community Development District	
General Fund	
Allocation of Infrastructure Reserves	

Description	Amount

Beginning Balance - (As of 9/30/2021)	$0

Additions:

FY 2022 Adopted Budget	$22,450	
FY 2023 Adopted Budget	$22,450	
FY 2024 Adopted Budget	$22,450	
FY 2025 Adopted Budget	$22,450	
FY 2026 Adopted Budget	$22,450	
	$112,250	
Subtractions:		

	$0 	$0

Total Infrastructure Reserve Funds as of December 31, 2025	$112,250

Portofino Shores	
Community Development District	
Debt Service Fund Series 2021	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending December 31, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/25	Thru 12/31/25	Variance	

Revenues:		
Special Assessments - On Roll	$	274,572	
Interest Income	1,500	

$	236,759	
375	

$	236,759	
852	

$	-	
477	

Total Revenues	$  276,072	$	237,134	$  237,611	$	477	
Expenditures:		
Interest Expense - 11/1	$	23,436	$	23,436	$	23,436	$	-	
Interest Expense - 05/1	23,436	-	-	-	
Principal Expense - 5/01	228,000	-	-	-	
Total Expenditures	$  274,872	$	23,436	$	23,436	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	1,200	$	213,698	$	214,175	$	477	

Net Change in Fund Balance	$	1,200	$	213,698	$  214,175	$	477	
		
Fund Balance - Beginning	$	94,851	$	95,193	
		
Fund Balance - Ending	$	96,051	$	309,368	

Portofino Shores	
Community Development District	
Month to Month	

Revenues:														
Special Assessments - On Roll	$	-	$	54,647	$  317,120	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  371,767	
Interest Income	1,303	1,036	1,282	-	-	-	-	-	-	-	-	-	3,621	

Total Revenues	$	1,303	$  55,683	$ 318,402	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 375,388	

Expenditures:														
General & Administrative:														
Engineering	$	-	$	852	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	852	
Attorney	923	2,153	-	-	-	-	-	-	-	-	-	-	3,075	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Administration	5,600	-	-	-	-	-	-	-	-	-	-	-	5,600	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	4,640	4,640	4,640	-	-	-	-	-	-	-	-	-	13,920	
Property Appraiser	-	-	7,508	-	-	-	-	-	-	-	-	-	7,508	
Information Technology	100	100	100	-	-	-	-	-	-	-	-	-	300	
Website Maintenance	100	100	100	-	-	-	-	-	-	-	-	-	300	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	1	38	1	-	-	-	-	-	-	-	-	-	41	
Insurance General Liability	8,295	-	-	-	-	-	-	-	-	-	-	-	8,295	
Printing & Binding	-	-	14	-	-	-	-	-	-	-	-	-	14	
Rental & Leases	200	200	200	-	-	-	-	-	-	-	-	-	600	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	126	103	125	-	-	-	-	-	-	-	-	-	354	
Office Supplies	-	-	18	-	-	-	-	-	-	-	-	-	18	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Capital Outlay	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contincency	100	-	-	-	-		-	-	-	-	-	-	100	
Total General & Administrative	$  20,260	$	8,186	$  12,705	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  41,151	

Portofino Shores	
Community Development District	
Month to Month	

Operations & Maintenance

Field Expenditures														
Field Maintenance	$	1,338	$	1,338	$	1,338	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	4,013	
Repairs & Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Roadway Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Lake Bank Restoration Reserves	-	-	-	-	-	-	-	-	-	-	-	-	-	
Infrastructure Reserve	-	-	-	-	-	-	-	-	-	-	-	-	-	
Lank Bank Restoration	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Removal/Pavement Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingencies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Improvements	86,125	68,900	53,265	-	-	-	-	-	-	-	-	-	208,290	

Subtotal Field Expenditures	$  87,463	$  70,238	$  54,603	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 212,303	

Total Expenditures	$ 107,723	$  78,424	$  67,307	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 253,454	

Excess (Deficiency) of Revenues over Expe	$ (106,419)	$  (22,741)	$  251,095	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  121,934	

Net Change in Fund Balance	$ (106,419)	$ (22,741)	$ 251,095	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 121,934	

Portofino Shores	
Community Development District	
Long Term Debt Report	

Series 2021, Special Assessments Refunding Bonds	
	
Original Bond Issuance:	$2,812,000	
Original Bond Date:	4/22/2021	
Interest Rate:	2.400%	
Maturity Date:	5/1/2033	
Reserve Fund Definition	N/A	
Reserve Fund Requirement	N/A	
Reserve Fund Balance	$0	
Bonds Outstanding:	$2,812,000	
Special Call - 11/1/21	($10,000)	
Less: Principal Payment - 5/1/22	($202,000)	
Less: Principal Payment - 5/1/23	($212,000)	
Less: Principal Payment - 5/1/24	($214,000)	
Less: Principal Payment - 5/1/25	($221,000)	
Current Bonds Outstanding	$1,953,000	

Page 9

Portofino Shores	
COMMUNITY DEVELOPMENT DISTRICT	
Special Assessment Receipts - St. Lucie County	
Fiscal Year 2026	

					Gross Assessments	$	458,661.06	$	292,097.40	$	750,758.46	
					Net Assessments	$	431,141.40	$	274,571.56	$	705,712.95	
			ON ROLL ASSESSMENTS				
					allocation in %	61.09%	38.91%	100.00%	

Date	
Gross Amount	Discount/
Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	2021
Debt Service	
Total	

11/07/25	
$	12,182.44	
$	606.94	
$	231.51	
$	-	
$	11,343.99	
$	6,930.39	
$	4,413.60	
$	11,343.99	
11/14/25	36,412.00	1,456.50	699.11	-	34,256.39	20,928.27	13,328.12	34,256.39	
11/20/25	46,607.36	1,864.32	894.86	-	43,848.18	26,788.18	17,060.00	43,848.18	
12/01/25	39,324.96	1,573.02	755.04	-	36,996.90	22,602.53	14,394.37	36,996.90	
12/05/25	426,225.16	17,049.24	8,183.51	-	400,992.41	244,978.40	156,014.01	400,992.41	
12/11/25	69,911.04	2,723.64	1,343.76	-	65,843.64	40,225.87	25,617.77	65,843.64	
12/18/25	7,282.40	218.46	141.29	-	6,922.65	4,229.26	2,693.39	6,922.65	
12/30/25	8,738.88	247.59	169.82	-	8,321.47	5,083.84	3,237.63	8,321.47	
				-	-	-	-	-	
TOTAL	$	646,684.24	$	25,739.71	$	12,418.90	$	-	$	608,525.63	$	371,766.74	$	236,758.89	$	608,525.63	

86.14%	Percent Collected	
$	104,074.22	Balance Remaining to Collect	

Page 10