CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT
MIAMI-DADE COUNTY, FLORIDA

FINANCIAL STATEMENTS WITH INDEPENDENT AUDITOR’S REPORT THEREON

ANNUAL AUDIT FOR THE YEAR ENDED SEPTEMBER 30, 2023

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
SEPTEMBER 30, 2023

TABLE OF CONTENTS
Pages
Independent Auditor's Report	1-3
Management’s Discussion and Analysis (required supplementary information)	4-8
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position	9
Statement of Activities	10
Fund Financial Statements
Balance Sheet – Governmental Funds	11
Reconciliation of the Balance Sheet – Governmental Funds to
the Statement of Net Position – Governmental Activities	12
Statement of Revenues, Expenditures, and Changes in Fund Balances-
Governmental Funds	13
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of the Governmental Funds to the Statement of Activities	14
Notes to the Financial Statements	15-27
Required Supplemental Information Other Than Management’s Discussion and Analysis Schedule of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual – General Fund	28
Notes to the Budgetary Required Supplementary Information	29
Other Information
Information Required by Section 218.39(3)(c), Florida Statutes
and Section 10.554(1)(i)6, Rules of the Auditor General	30
Other Reports
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	31-32
Management Letter in Accordance with the Rules of the Auditor General
of the State of Florida	33-35
Independent Accountant’s Report on Compliance with
Section 218.415, Florida Statutes	36

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Century Park Place Community Development District Miami-Dade County, Florida

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 the Century Park Place Community Development District (the “District”), as of and for the year ended September 30, 2023, 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, 2023, and the respective changes in financial position for the year then ended 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 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

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 generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, 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 on pages 4 through 8 and the budgetary comparison information on pages 28 and 29 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
Management is responsible for the other information included in the annual report. The other information comprises the other information section but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic 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 basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic 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 June 26, 2024, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and 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 District’s internal control over financial reporting and compliance.

West Palm Beach, Florida June 26, 2024

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of Century Park Place Community Development District, Miami- Dade County, Florida’s (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2023. 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.

FINANCIAL HIGHLIGHTS
The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of $572,288. When the District was formed, assets exceeded liabilities and subsequently infrastructure was deeded to Miami-Dade County creating the negative net position. The reason for the transfer of infrastructure was that the County is better able to maintain the infrastructure than the District. The debt related to the assets transferred to the County will be paid by future assessments and as demonstrated by the fund financial statements the District has sufficient resources for current operations.
The change in the District’s total net position in comparison with the prior fiscal year was an increase of $22,242. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.
At September 30, 2023, the District’s governmental funds reported combined ending fund balances of $236,814, an increase of $21,195 in comparison with the prior year. Of the total fund balance, $161,383 is restricted for debt service, $34 is restricted for capital projects, and $65,243 is unassigned fund balance which is available for spending at the District’s discretion.
Financial condition assessment procedures have been applied and no deteriorating financial conditions were noted.
OVERVIEW OF FINANCIAL STATEMENTS

The discussion and analysis are intended to serve as the introduction to the District’s basic 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 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 and liabilities, 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 special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

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 three individual governmental funds. 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, debt service fund, and capital projects fund. The general, debt service fund, and capital projects fund are considered to be 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, due to the transfer of infrastructure to Miami-Dade County, 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,

		2023			2022		
Current and other assets	$	251,670	$	226,394	
Capital assets, net of depreciation		848,419 		882,882 	
Total assets		1,100,089 		1,109,276 	
Current liabilities	47,377	43,806	
Long-term liabilities		1,625,000 		1,660,000 	
Total liabilities		1,672,377 		1,703,806 	
Net position
Net investment in capital assets	
(209,908)	
(198,241)	
Restricted	128,862	119,613	
Unrestricted		(491,242) 		(515,902)	
Total net position (deficit)	 $  (572,288) 	 $	(594,530)	
The District’s net position reflects its investment in capital assets (e.g., land, land improvements, and infrastructure); less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which the ongoing program revenues exceeded the cost of operations and depreciation expense.

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

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,

		2023			2022		
Revenues:			
Program revenues			
Charges for services	$	197,874	$	197,578	
Operating grants and contributions	4,549	7	
General revenues		3,836 		10 	
Total revenues		206,259 		197,595 	

Expenses:
General government	

66,927	

63,018	
Maintenance and operations	38,937	36,038	
Interest		78,153 		79,377 	
Total expenses		184,017 		178,433 	
Change in net position		22,242 		19,162 	

Net position (deficit) – beginning	
	(594,530)	
	(613,692)	
Net position (deficit) – ending	 $  (572,288)	 $  (594,530)	

As in the prior fiscal year, program revenues are comprised primarily of assessments. As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2023 was $184,017. The costs of the District’s activities were primarily funded by program revenues. Program revenues, comprised primarily of assessments, increased slightly during the fiscal year.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the government 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 at the aggregate fund level. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. The 2023 general fund budget was amended to increase revenues by $5,023 and increase appropriations by $1,234. The actual general fund expenditures for the 2023 fiscal year were lower than budgeted amounts due primarily to anticipated costs which were not incurred in the current fiscal year.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2023, the District had $969,040 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $120,621 has been taken, which resulted in a net book value of $848,419. More detailed information about the District’s capital assets is presented in the notes to the financial statements.

The following is a summary of capital assets as of September 30:

	2023			2022		

Stormwater management	
$	324,117	
$	324,117	
Roadway improvements		644,923 		644,923 	
	969,040	969,040	
Less accumulated depreciation		120,621 		86,158 	
Totals	 $	848,419 	 $	882,882 	

Long-Term Liabilities
At September 30, 2023, the District had $1,625,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s long-term liabilities is presented in the notes of the financial statements.
The following is a summary of long-term liabilities as of September 30:
	2023			2022	

Bonds payable, Series 2017	 $ 1,625,000 	 $ 1,660,000 

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS

The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, landowners, customers, and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the Century Park Place Community Development District’s management services at Special District Services, Inc., 2501A Burns Road, Miami-Dade Gardens, Florida 33410.

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
Statement of Net Position September 30, 2023

Assets
Current assets:
Cash

Total Governmental Activities

$	90,253

Investments	161,417
Total current assets	251,670

Noncurrent assets:
Capital assets
Depreciable (net of depreciation)	848,419	
Total noncurrent assets	848,419	
Total assets	1,100,089	

Liabilities		
Current liabilities:
Accounts payable	
14,856	
Accrued interest payable	32,521	
Total current liabilities	47,377	
Noncurrent liabilities
Due within one year	
35,000	
Due in more than one year	1,590,000	
Total noncurrent liabilities	1,625,000	
Total liabilities	1,672,377	
Net position		
Net investment in capital assets	(209,908)	
Restricted for debt service	128,862	
Unrestricted	(491,242)	
Total net position	$	(572,288)	

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
Statement of Activities
For the Fiscal Year Ended September 30, 2023

	Program Revenues	

Function / Program Activities	

	Expenses		Charges For
	Services		Operating Grants and
 Contributions 	Capital Grants and
 Contributions 	Total Governmental
	Activities		
Governmental activities						
General government	$	66,927	$	66,927	$	$	$	
Maintenance and operations	38,937	13,093			(25,844)	
Interest on long term debt		78,153 		117,854 		4,549 	 			44,250 	
Total governmental activities	 $	184,017 	 $	197,874 	 $	4,549 	 $		18,406	

General revenues
Investment earnings - unrestricted		3,836 	
Total general revenues		3,836 	
Change in net position	22,242	
Net position, beginning of year		(594,530)	
Net position, end of year	 $	(572,288)	

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
Balance Sheet Governmental Funds September 30, 2023

	Major Funds		
	
General		Debt
Service		Capital
Projects		Total
Governmental	
	Fund		Fund		Fund		Funds	
Assets
Cash	
$	90,253		
$		
$		
$	90,253	
Investments			161,383		34		161,417	

Total assets	
$	
90,253	
$	
161,383	
$	
34	
$	
251,670	

Accounts payable	$	14,856		$		$		$	14,856	

Total liabilities	
14,856						
14,856	

Liabilities and fund balances Liabilities

Fund balances Restricted
Debt service	161,383		161,383	
Capital projects		34	34	
Assigned
Subsequent year's expenditures	
10,154						
10,154	
Unassigned	65,243						65,243	

Total fund balances	
75,397		
161,383		
34		
236,814	

Total liabilities and fund balances	
$	90,253		
$	161,383		
$	34		
$	251,670	

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
Reconciliation of the Balance Sheet - Governmental Funds to the Statement of Net Position - Governmental Activities September 30, 2023

Fund balances total governmental funds		$	236,814	

Amounts reported for governmental activities in the statement of net position are different because:			
Capital assets used in governmental activities are not financial resources and therefore are not reported in the governmental funds.			
Governmental capital assets	$	969,040		
Less accumulated depreciation	(120,621)		
		848,419	
Long-term liabilities, including notes and bonds payable, are not due and payable in the current period and therefore are not reported in the funds. Long-term liabilities at year-end consists of:			
Accrued interest payable	(32,521)		
Bonds payable	(1,625,000)		
		(1,657,521)	

Net position of governmental activities		

$	(572,288)	

Combined Statement of Revenues, Expenditures and Changes in Fund Balances
Governmental Funds
For the Fiscal Year Ended September 30, 2023

	Major Funds		
	
General		Debt
Service		Capital
Projects		Total
Governmental	
	Fund		Fund		Fund		Funds	
Revenues
Assessments	
$	80,020		
$	117,854		
$		
$	197,874	
Investment earnings	3,836		4,548		1		8,385	
Total revenues	83,856		122,402		1		206,259	
Expenditures Current
General government	

66,927						

66,927	
Maintenance Debt service
Principal	4,474		

35,000				4,474

35,000	
Interest			78,663				78,663	
Total expenditures	71,401		113,663				185,064	
Excess of revenues over (under) expenditures	12,455		8,739		1		21,195	
Fund balances - beginning of year	62,942		152,644		33		215,619	
Fund balances - end of year	$	75,397		$	161,383		$	34		$	236,814	

Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of the Governmental Funds to the Statement of Activities For the Fiscal Year Ended September 30, 2023

Net change in fund balances	$	21,195

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

Depreciation on capital assets is not recognized in the governmental fund financial statement but is reported as an expense in the statement of activities:

Current year depreciation	(34,463)

Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the statement of net position:

Repayment of debt principal	35,000

Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.
Change in accrued interest	510
Change in net position	$	22,242

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of the Century Park Place Community Development District (“District”) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The District’s significant accounting policies are described below.

Reporting Entity

The District was created by Miami-Dade County Ordinance 17-19 effective 2017 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. Ownership of and within the District entitles the owner to one vote per acre. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes.

The Board has the final responsibility for:

Assessing 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.
As required by generally accepted accounting principles, these financial statements include the District (the primary government) and its component units. Component units are legally separate entities for which the District is financially accountable. The District is financially accountable if:
the District appoints a voting majority of the organization’s governing board and (1) the District is able to impose its will on the organization or (2) there is a potential for the organization to provide specific financial benefits to or impose specific financial burdens on the District, or

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Reporting Entity (Continued)

the organization is fiscally dependent on the District and (1) there is a potential for the organization to provide specific financial benefits to the District or (2) impose specific financial burdens on the District.

Organizations for which the District is not financially accountable are also included when doing so is necessary in order to prevent the District’s financial statements from being misleading.
Based upon application of the above criteria, management of the District has determined that no component units exist which would require inclusion in this report. Further, the District is not aware of any entity that would consider the District to be a component unit.
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 is 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.

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 recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Governmental Funds

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.

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.

Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

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.

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:

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Deposits and Investments (Continued)

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. Unspent Bond proceeds or Bond Reserve accounts are required to be held in investments as specified in the Bond Indenture.

Investments are stated at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market-based measurement, not an entity-specific measurement. For some assets and liabilities, observable market transactions or market information might be available; for others, it might not be available. However, the objective of fair value measurement in both cases is the same, that is, to determine the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions. Fair value is an exit price at the measurement date from the perspective of a market participant that controls the asset or is obligated for the liability. The District categorizes investments reported at fair value in accordance with the fair value hierarchy established by GASB Statement No. 72, Fair Value Measurement and Application. The District records all interest revenue to investment activities in the respective funds.

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. In the governmental funds, prepaid items are recorded using the consumption method and are offset by the nonspendable fund balance component which indicates they do not constitute available spendable resources, even though they are a component of current assets.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical costs or estimated historical cost if purchased or constructed. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are reported at acquisition cost.

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.

Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years
Stormwater management	25
Roadway improvements	30
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.
Deferred Outflow of Resources
In addition to assets, the statement of net 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 or fund balance that applies to a future period(s) and thus, will not be recognized as an outflow of resources (expense/expenditure) until that time. Currently, the District does not report any deferred outflows of resources.
Deferred Inflow of Resources
In addition to liabilities, the statement of net 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 or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Currently, the District does not report any Deferred Inflows of Resources.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Unearned Revenue
The District reports unearned revenue on its government wide Statement of Net Position and governmental funds balance sheet. Unearned revenue arises when resources are obtained prior to revenue recognition. In subsequent periods, when revenue recognition criteria are met the unearned revenue is removed and revenue is recognized.
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.

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.

Fund Balance

In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Fund balance is reported under the following categories:

Nonspendable fund balance represents amounts that are not in spendable form or are legally or contractually required to be maintained intact.

Restricted fund balance represents amounts that can be spent only for specific purposes stipulated by external providers (e.g. creditors, grantors, contributor, or laws or regulations of other governments) or imposed by law through constitutional provisions or enabling legislation.

Committed fund balance represents amounts that can be used only for the specific purposes determined by formal action (ordinance) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (ordinance).

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Fund Balance (Continued)

Assigned fund balance includes spendable fund balance amounts that are intended to be used for specific purposes, as expressed by the Board of Supervisors, that are neither considered restricted or 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.

Unassigned fund balance is the residual fund balance classification for the general fund. It is also used to report negative fund balances in other governmental funds.

When an expenditure is incurred for purposes for which both restricted and unrestricted (committed, assigned, or unassigned) amounts are available, it is the District’s policy to reduce restricted amounts first. When an expenditure is incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used, it is the District’s policy to reduce committed amounts first, followed by assigned amounts, and then unassigned amounts.

Net Position

Net position is the residual of all other elements presented in a statement of financial position. It is the difference between (a) assets plus deferred outflows of resources and (b) liabilities and deferred inflows of resources. Net position is displayed in the following three components:

Net investment in capital assets – Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, notes or other borrowings that are attributable to the acquisition, construction or improvement of those assets.

Restricted net position – Consists of net position with constraints placed on the use either by:
(1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments; or (2) law through constitutional provisions of enabling legislation.
Unrestricted net position – All other net position that does not meet the definition of “restricted” or “net investment in capital assets.”
New Accounting Standards
In fiscal year 2023, the District has not implemented any new accounting standards with a material effect on the District’s financial statements.

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assessments

Assessments are non-ad valorem assessments on certain land and all platted lots within the District. Assessments are levied each November 1 on property of record as of the previous January. The fiscal year for which annual assessments are levied on October 1 with discounts available for payments through February 28 and become delinquent on April 1. For debt service assessments, amounts collected as advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with prepaid assessments.

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. All other revenue items are considered to be measurable and available only when cash is received by the District.

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 2 – 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 public comments.
Prior to October 1, the budget is legally adopted by the District Board.
Any budget amendments that increase the aggregate budgeted appropriations must be approved by the District Board. The legal level of control is at the fund level.
Unused appropriation for annually budget funds lapse at the end of the year.

NOTE 3 – DEPOSITS AND INVESTMENTS

Deposits

In addition to insurance provided by the Federal Depository Insurance Corporation, deposits are held in banking institutions approved by the Treasurer of the State of Florida. Under Florida Statutes, Chapter 280, Florida Security for Public Deposits Act, the State Treasurer requires all Florida qualified public depositories to deposit with the Treasurer or other banking institution eligible collateral. In the event of failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses. The District’s deposits at year end are considered insured for custodial credit risk purposes. As of September 30, 2023, the bank balance of the District’s deposits totaled $90,235 and the carrying amount was $90,253.

Investments

GASB Statement No. 72, Fair Value Measurement and Application, requires governments to disclose the fair value hierarchy for each type of asset or liability measured at fair value in the notes to the financial statements. The standard also requires governments to disclose a description of the valuation techniques used in the fair value measurement and any significant changes in valuation techniques. GASB 72 establishes a three-tier fair value hierarchy. The hierarchy is based on valuation inputs used to measure the fair value as follows:
Level 1:  Inputs are directly observable, quoted prices in active markets for identical assets or liabilities.
Level 2:  Inputs are other than quoted prices included within Level 1 that are for the asset or liability, either directly or indirectly. These inputs are derived from or corroborated by observable market data through correlation or by other means.

Level 3:  Inputs are unobservable inputs used only when relevant Level 1 and Level 2 inputs are unavailable.

The level in which an asset is assigned is not indicative of its quality but an indication of the source of valuation inputs.

Fair Value	Credit Rating	Maturities	
$ 161,417	Not Available	Not Available	

The District’s investments were as follows at September 30, 2023:

U.S. Bank MMKT – CT

The fair value of the money market investment is measured at amortized cost and is exempt from the fair value hierarchy rules under GASB 72.

NOTE 3 – DEPOSITS AND INVESTMENTS (Continued)
Investments (Continued)

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates. However, the Bond Indenture limits the type of investments held using unspent proceeds.

NOTE 4 – CAPITAL ASSETS

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

	Beginning
  Balance		 Additions		 Reductions 	Ending
  Balance		
Governmental activities
Capital assets, being depreciated Stormwater management	

$ 324,117	

$	

$	

$ 324,117	
Roadway improvements		644,923 	 		 			644,923 	
Total capital assets, being depreciated		969,040 	 		 			969,040 	
Less accumulated depreciation for: Stormwater management	
(32,413)	
(12,965)		
(45,378)	
Roadway improvements		(53,745)		(21,498)	 			(75,243)	
Total accumulated depreciation		(86,158)		(34,463)	 		  (120,621)	
Total capital assets, being depreciated, net		882,882 		(34,463)	 			848,419 	
Governmental activities capital assets, net	 $ 882,882 	  $ (34,463)	 $		 $ 848,419 	
Depreciation expense was charged to the maintenance and operations function.

NOTE 5 – LONG-TERM LIABILITIES
Special Assessment Bonds, Series 2017

On July 21, 2017, the District issued $1,785,000 of Special Assessment Bonds, Series 2017, with interest rates of 3.50% to 5.00%. The bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Principal and interest are payable semiannually on May 1 and November 1, commencing November 1, 2017. The bonds mature on November 1, 2047.

The Series 2017 Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District is in compliance with those requirements of the Bond Indenture at September 30, 2023.

If any Event of Default respect to the Bonds has occurred and is continuing, the Trustee, in its discretion may, and upon written request of the Majority Holders and receipt of indemnity to its satisfaction shall, in its own name: (a) by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Holders of the Bonds, including, without limitation, the right to require the District to carry out any agreements with, or for the benefit of, the Bondholders and to perform its or their duties under the Act; (b) bring suit upon the Bonds; (c) by action or suit in equity require the District to account as if it were the trustee of an express trust for the Holders of the Bonds; (d) by action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the Holders of the Bonds; and (e) by other proceeding in law or equity, exercise all rights and remedies provided for by any other document or instrument securing the Bonds.

NOTE 5 – LONG-TERM LIABILITIES (Continued)

Changes in Long-Term Liabilities

Changes in the District’s long-term liabilities for the fiscal year ended September 30, 2023 were as follows:

	Beginning
  Balance		 Additions 	 Reductions 	Ending
  Balance		Due Within
  One Year 	
Governmental activities
Direct placements:						
Bonds payable;						
Series 2017	 $1,660,000 	 $		  $ (35,000) 	 $1,625,000 	 $	35,000 	
Total	 $1,660,000 	 $		  $ (35,000) 	 $1,625,000 	  $	35,000 	

Debt Service Requirements

At September 30, 2023, the scheduled debt service requirements on the long-term debt were as follows:

Governmental Activities
Year Ending
 September 30: 	  Principal			Interest			Total		
2024	$	35,000	$	77,306	$	112,306	
2025	35,000	75,819	110,819	
2026	40,000	74,225	114,225	
2027	40,000	72,525	112,525	
2028	40,000	70,825	110,825	
2029-2033	245,000	322,983	567,983	
2034-2038	305,000	257,781	562,781	
2039-2043	385,000	174,788	559,788	
2044-2048		500,000 		65,000 		565,000 	
Total	 $ 1,625,000 	 $ 1,191,252 	 $ 2,816,252 	

NOTE 6 – DEFICIT NET POSITION

The District has a government-wide net position financial deficit of $572,288 as of September 30, 2023. The deficit in the government-wide statement of net position primarily relates to the excess of the amount of long-term debt outstanding over the amount of capital assets, net of accumulated depreciation. During prior years, various infrastructure improvements necessary to complete the District were financed through the issuance of long-term debt but were conveyed to other entities for maintenance. Those capital assets are not included in the assets of the District; however, the long-term debt associated with those assets remains a liability of the District.

NOTE 7 – MANAGEMENT COMPANY

The District has contracted with a management company to perform management advisory 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. Settled claims from these risks have not exceeded commercial insurance coverage over the past three years.

Florida Statues limit the District’s maximum loss for most liability claims to $200,000 per person and $300,000 per occurrence under the Doctrine of Sovereign Immunity. However, under certain circumstances, a plaintiff can seek to recover damages in excess of statutory limits by introducing a claims bill to the Florida Legislature. The limits addressed in Florida Statutes do not apply to claims filed in Federal courts.

NOTE 9 – SUBSEQUENT EVENTS
Management has evaluated subsequent events through the date that the financial statements were available to be issued, June 26, 2024 and determined there were no events that occurred that required disclosure. No subsequent events occurring after this date have been evaluated for inclusion in these financial statements.

Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - General Fund
For the Fiscal Year Ended September 30, 2023

Variance -
Budgeted Amounts	Actual	Positive
	Original		Final		Amounts		(Negative)	
Revenues								
Assessments	$	78,533		$	80,020		$	80,020		$	
Interest	60		3,596		3,836		240	
Total revenues	78,593		83,616		83,856		240	
General government								
Current								
General government		68,332		67,981		66,927		1,054	
Maintenance		10,261		11,846		4,474		7,372	
Total general expenditures		78,593		79,827		71,401		8,426	
Excess of revenues over (under) expenditures	
$			
$	3,789		
12,455		
$	8,666	
Fund balance, beginning of the year						62,942			
Fund balance, end of the year						$	75,397			

See notes to the budgetary required supplementary information (RSI)

Notes to the Budgetary
Required Supplementary Information (RSI) September 30, 2023

Note 1 - Basis of Accounting

Generally Accepted Accounting Principles (GAAP) serve as the budgetary basis of accounting.

Note 2 - Excess of expenditures over appropriations

Actual general fund expenditures did not exceed appropriations for the fiscal year.

CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA
Other Information-Information Required by Section 218.39(3)(c), Florida Statutes and Section 10.554(1)(i)6, Rules of the Auditor General
For the Fiscal Year Ended September 30, 2023 Unaudited

As required by Section 218.39(3)(c), Florida Statutes and Section 10.554(1)(i)6, Rules of the Auditor General, the District reported:

Element	Comments
Number of district employees compensated at 9/30/2023	0	
Number of independent contractors compensated in September 2023	1	
Employee compensation for FYE 9/30/2023 (paid/accrued)	Not applicable	
Independent contractor compensation for FYE 9/30/2023	$7,423	
Construction projects to begin on or after October 1; (>$65K)	Not applicable	
Budget variance report	See Variance Report in report for details	
Ad Valorem taxes;	Not applicable	
Millage rate FYE 9/30/20XX	Not applicable	
Ad valorem taxes collected FYE 9/30/20XX	Not applicable	
Outstanding Bonds:	Not applicable	
		
Non ad valorem special assessments;		
Special assessment rate FYE 9/30/2023	$1,581.51 Per Unit	
Special assessments collected FYE 9/30/2023	$197,874	
Outstanding Bonds:		
Series 2017, due November 1, 2047	$1,625,000 - See Long Term Liabilities Note in report for details	

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
Century Park Place Community Development District Miami-Dade County, 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 the Century Park Place Community Development District (the “District”), as of and for the year ended September 30, 2023, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our report thereon dated June 26, 2024.
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) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of 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 grant agreements, noncompliance with which could have a direct and material effect on the financial statements. 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.

West Palm Beach, Florida June 26, 2024

MANAGEMENT LETTER IN ACCORDANCE WITH THE RULES OF THE AUDITOR GENERAL
OF THE STATE OF FLORIDA

To the Board of Supervisors
Century Park Place Community Development District Miami-Dade County, Florida

Report on the Financial Statements

We have audited the basic financial statements of the Century Park Place Community Development District (the “District”), as of and for the fiscal year ended September 30, 2023, and have issued our report thereon dated June 26, 2024.
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 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 Accountant’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 June 26, 2024, should be considered in conjunction with this management letter.

Prior Audit Findings

Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding financial audit report. There were no findings or recommendations in the prior year that required corrective actions.

Official Title and Legal Authority

Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this Management Letter, unless disclosed in the notes to the financial statements. This information is disclosed in Note 1 to the financial statements.

Financial Condition and Management

Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the District met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit, we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the District. It is management’s responsibility to monitor the District’s financial condition, and our financial condition assessment was based in part on representations made by management and review of financial information provided by same. Our assessment was done as of the fiscal year end. The results of our procedures did not disclose any matters that are required to be reported.

Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.
Special District Component Units

Section 10.554(1)(i)5.c., Rules of the Auditor General, requires, if appropriate, that we communicate the failure of a special district that is a component unit of a county, municipality, or special district, to provide the financial information necessary for proper reporting of the component unit, within the audited financial statements of the county, municipality, or special district in accordance with Section 218.39(3)(b), Florida Statutes.

Based on the application of criteria in publications cited in Section 10.553, Rules of the Auditor General, there are no special district component units of the District and the District is not a component to any other entity.

Specific Information

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, the District reported the required information in the other information section on page 30.

Additional Matters

Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but warrants the attention of those charged with governance. In connection with our audit, we did not note any such findings.

Purpose of this Letter

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

West Palm Beach, Florida June 26, 2024

INDEPENDENT ACCOUNTANT’S REPORT

To the Board of Supervisors
Century Park Place Community Development District Miami-Dade County, Florida

We have examined the Century Park Place Community Development District’s (the “District”) compliance with Section 218.415, Florida Statutes during the year ended September 30, 2023. Management of the District is responsible for the District’s compliance with the specified requirements. Our responsibility is to express an opinion on the District’s compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with attestation standards established by the AICPA. 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 above. 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 judgement, including an assessment of the risk 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.

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

Our examination does not provide a legal determination on the District’s compliance with the specified requirements.

In our opinion, the District complied, in all material respects, with Section 218.415, Florida Statutes for the year ended September 30, 2023.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and Florida House of Representatives, the Florida Auditor General, applicable management, and the District Board, and is not intended to be and should not be used by anyone other than these specified parties.

West Palm Beach, Florida June 26, 2024