Pier Park Community Development District

Board of Supervisors Meeting November 17, 2025

District Office:
120 Richard Jackson Blvd, Suite 220 Panama City Beach, Florida 32407 850-334-9055

www.pierparkcdd.org

PIER PARK
COMMUNITY DEVELOPMENT DISTRICT

District Board of Supervisors    VACANT	Chairman
Marek Bakun	Vice Chairman
Chris Tilley Jr.
Lee Ann Leonard	Assistant Secretary
Assistant Secretary	
Martin Horak	Assistant Secretary	
District Manager	Stephanie DeLuna	Rizzetta & Company, Inc.	
District Counsel	Joseph Brown	Kutak Rock LLP	
District Engineer	Robert Carroll	McNeil Carroll Engineering, Inc.	

All cellular phones must be placed on mute while in the meeting room.

The Public Comment portion of the agenda is where individuals may make comments on any matters that concern the District. Individuals are limited to a total of three (3) minutes to make comments during this time.
Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting/hearing/workshop is asked to advise the District Office at least forty-eight (48) hours before the meeting/hearing/workshop by contacting the District Manager at (850) 334-9055. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) 1-800-955-8770 (Voice), who can aid you in contacting the District Office.

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

PIER PARK COMMUNITY DEVELOPMENT DISTRICT
District Office  120 Richard Jackson Blvd, Suite 220, Panama City Beach, FL 32407 Mailing Address  3434 Colwell Avenue, Suite 200, Tampa, FL 33614 www.PierParkCDD.org

Board of Supervisors	November 10, 2025
Pier Park Community Development District

FINAL AGENDA
Dear Board Members:
The meeting of the Board of Supervisors of the Pier Park Community Development District will be held on November 17, 2025, at 11:00 a.m. (CT) at the Rizzetta & Company Inc. Panama City Beach Office, located at 120 Richard Jackson Boulevard, Suite 220, Panama City Beach, FL 32407. The following is the agenda for this meeting:
CALL TO ORDER/ROLL CALL
AUDIENCE COMMENTS ON AGENDA ITEMS
BUSINESS ADMINISTRATION
Consideration of the Minutes of the Board of Supervisors
Meeting held on July 15, 2025	Tab 1
Ratification of Operation and Maintenance Expenditures
for the Months June – September 2025	Tab 2
Consideration of Resolution 2026-02, Designating Officers	Tab 3
BUSINESS ITEMS
Ratification of District Items	Tab 4
Chair’s Acceptance of the FY 2024 Financial Audit
FY 25/26 Egis District Insurance Policy
Consideration of Resolution 2026-01, Amending FY 2024-2025
Budget	Tab 5
STAFF REPORTS
District Counsel
District Engineer
Property Manager
District Manager
Presentation of District Manager Report
SUPERVISOR REQUESTS AND COMMENTS
ADJOURNMENT
We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at (407) 472-2471.
Very truly yours, Stephanie DeLuna Stephanie DeLuna

Tab 1

1	MINUTES OF MEETING
2
Each person who decides to appeal any decision made by the Board with respect to
any matter considered at the meeting is advised that the person may need to ensure
that a verbatim record of the proceedings is made, including the testimony and
evidence upon which such appeal is to be based.
7
8	PIER PARK
9	COMMUNITY DEVELOPMENT DISTRICT
10
The regular meeting of the Board of Supervisors for Pier Park Community Development
District was held on Tuesday, July 15, 2025, at 10:00 a.m. (CT) at The Panama City Beach
City Hall located at 17007 Panama City Beach Parkway, Panama City Beach, FL 32413.
14
15  Present:
16

Chris Tilley Sr.
Marek Bakun
Chris Tilley Jr.
20
21	Lee Ann Leonard
22	Martin Horak
23
24  Also present were:
25
26	Stephanie Deluna
27	Joseph Brown
28	James Brown
29
30	Audience
31

Board Supervisor, Chairman Board Supervisor, Vice Chairman
Board Supervisor, Assistant Secretary
(via phone)
Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary

District Manager, Rizzetta & Company, Inc. District Counsel, Kutak Rock, LLP
District Property Manager Not Present

32  FIRST ORDER OF BUSINESS	Call to Order
33
34	Ms. Deluna called the meeting to order at 10:01 a.m. (CDT) and conducted roll call,
35  confirming a quorum for the meeting.
36
37  SECOND ORDER OF BUSINESS	Audience Comments
38
39	There were no audience members present.
40
41	Mr. James Brown notified the Board Members of a large-scale irrigation break.
42
43	Mr. James Brown notified the Board that the concrete project has been completed.
44
45

On a Motion by Mr. Tilly Sr., seconded by Mr. Bakun, with all in favor, the Board approved the irrigation main break repair not to exceed $15,000 and the front beach light project not to exceed
$25,000, for Pier Park Community Development District.

47
48
THIRD ORDER OF BUSINESS	Consideration of Minutes of the Board of
Supervisors Meeting Held on May 20,
2025
52
53	Ms. Deluna presented the minutes from the meeting held on May 20th, 2025, and
54  asked the Members of the Board if there were any questions or revisions needed. There were
55  no requested revisions.

On a Motion by Mr. Bakun, seconded by Mr. Tilly Sr., with all in favor, the Board approved the Minutes for the Meeting held on May 20, 2025, for Pier Park Community Development District.

56

57
58
59  FOURTH ORDER OF BUSINESS
60
61
62

Ratification of Operation and Maintenance Expenditures from the General Fund for the Months of May & June 2025

63	Ms. Deluna reviewed the Operation and Maintenance Expenditures from the General
64  Fund for the Months of May & June 2025 with the Members of the Board and asked if there
65  were any questions.
66
67	There were no questions at this time.

Upon a Motion by Mr. Tilley Sr., seconded by Ms. Leonard, with all in favor, the Board ratified Operation and Maintenance Expenditures from the General fund for May 2025 ($39,341.91) and June 2025 ($49,973.39), for Pier Park Community Development District.

68

69
70  FIFTH ORDER OF BUSINESS

Public Hearing to Consider the Adoption of

71	the Fiscal Year 2025/2026 Budget

On Motion by Mr. Tilly Sr., seconded by Mr. Horak, with all in favor, the Board of Supervisors Opened the Public Hearing, for Pier Park Community Development District.

72

73
74	There were no audience members in attendance.
75
76
77	1. Consideration of Resolution 2025-04, Adopting FY 25/26 Final Budget
78
79	Ms. Deluna reviewed Resolution 2025-04, Adopting FY 25/26 Final Budget with the
80  Members of the Board and asked if there were any questions. There were no questions.

On a Motion by Mr. Bakun., seconded by Ms. Tilly Sr., with all in favor, the Board approved the presented increases of Retail ($54,263.96), Hotel ($8,037.87) and Timeshare ($4,303.49), for Pier Park Community Development District

81

On a Motion by Mr. Tilley Sr., seconded by Ms. Bakun, with all in favor, the Board adopted Resolution 2025-04, Adopting FY 25/26 Final Budget, for Pier Park Community Development District

82

On Motion by Mr. Bakun, seconded by Mr. Horak, with all in favor, the Board of Supervisors Closed the Public Hearing for Pier Park Community Development District

83

84
85  SIXTH ORDER OF BUSINESS
86

On Motion by Ms. Leonard, seconded by Mr. Tilly Sr., with all in favor, the Board of Supervisors Opened the Public Hearing, for Pier Park Community Development District.

87

Public Hearing on Fiscal Year 2025/2026 Special Assessments

88
89	There were no audience members in attendance.
90
91	1. Consideration of Resolution 2025-05, Imposing Special Assessments
92
Ms. Deluna reviewed Resolution 2025-05, Imposing Special Assessments with the
Members of the Board and asked if there were any questions. There were no questions.

On a Motion by Ms. Leonard., seconded by Mr. Horak, with all in favor, the Board adopted Resolution 2025-05, Imposing Special Assessments, for Pier Park Community Development District

95

On Motion by Ms. Leonard, seconded by Mr. Tilly Sr, with all in favor, the Board of Supervisors Closed the Public Hearing for Pier Park Community Development District

96

97
SEVENTH ORDER OF BUSINESS

Consideration	of	Resolution	2025-06,

Adopting FY 25-26 Meeting Schedule
100
Ms. Deluna reviewed Resolution 2025-06, Adopting FY 25-26 Meeting Schedule with
the Members of the Board and asked if there were any questions. There were no questions.
103
104
105	The Members of the Board agreed on the following meeting dates, November 13th, 2025,
106  February 10th, 2026, May 19th, 2026, and July 28th, 2026.

On a Motion by Mr. Tilley Sr., seconded by Mr. Horak, with all in favor, the Board Adopted Resolution 2025-06, Adopting FY 25-26 Meeting Schedule, approving the meeting dates November 13th, 2025, February 10th, 2026, May 19th, 2026, and July 28th, 2026, for Pier Park Community Development District

108
109  EIGHTH ORDER OF BUSINESS	Discussion of Insurance for the upcoming
110	FY 2026
111
112	Ms. Deluna opened the discussion regarding insurance for the fiscal year 2026.

On a Motion by Mr. Horak, seconded by Ms. Leonard, with all in favor, the Board approved Ms. Deluna, Mr. Tilly Sr. and Mr. Bakun to work together regarding the 2026 fiscal year insurance, for Pier Park Community Development District

113

114
115  NINTH ORDER OF BUSINESS
116

Staff Reports

A. District Counsel
No updates
119
B. District Engineer
Not present
122
123	C. Property Manager
124	No updates
125
126	D. District Manager

127
128
129

No updates

1. Presentation of District Manager Report

130  TENTH ORDER OF BUSINESS	Supervisor Requests and Comments
131
132  There were no Supervisor requests or comments.
133

134
135

ELEVENTH ORDER OF BUSINESS

Adjournment

On a Motion by Mr. Horak, seconded by Ms. Tilly Sr., with all in favor, the Board adjourned the Meeting at 10:44 a.m. Central Time, for Pier Park Community Development District.

136
137	[SINGATURES ON FOLLOWING PAGE]
138
139
140
141
142
143

144
145
146
147
148
149
150
151
152
153
154

Secretary / Assistant Secretary
157
158

Chairman / Vice Chairman

Tab 2

Pier Park Community Development District

DISTRICT OFFICE · PANAMA CITY BEACH, FL 32407
Mailing Address · 3434 Colwell Avenue, Suite 200 · Tampa, Florida 33614
www.PierParkCDD.org

Operation and Maintenance Expenditures For Board Approval
June 2025

Attached please find the check register listing the Operation and Maintenance expenditures paid from June 1, 2025 through June 30, 2025. This does not include expenditures previously approved by the Board.

The total items being presented: $49,973.39

Approval of Expenditures:

	 Chairperson

	 Vice Chairperson

	 Assistant Secretary

Vendor Name	 Check Number  Invoice Number	 Invoice Description	  Invoice Amount 

4m Gro Pro, LLC	300045	51	Service Call - Irrigation Repair 05/25	$	6,500.00	
AMTEC	300046	6/25/4888	Capital Improvement Revenue Refunding Bonds, Series 2014	$	450.00	
City of Panama City Beach	20250618-1	Monthly Summary 06/25 ACH	Water Services 06/25	$	465.94	
Coastal Electric PC LLC	300043	1983	Shorted Wires - Parking Lot & Pier 06/25	$	918.50	
Dumpster Services, LLC	300052	12840	Street Sweeping Services 10/24	$	4,876.72	
Dumpster Services, LLC	300052	13817	Street Sweeping Services 03/25	$	3,525.50	
Dumpster Services, LLC	300044	14254	Street Sweeping Services 05/25	$	1,168.50	
Gannett Florida LocaliQ	300047	0007143893	Account #523224 Legal Advertising 05/11/25	$	125.39	
GreenEarth Southeast, LLC	300042	111550	Additional Staffing - July 4th Event 09/24	$	3,000.00	
GreenEarth Southeast, LLC	300048	168141	Landscape Maintenance 06/25	$	12,834.67	
Rizzetta & Company, Inc.	300041	INV0000099671	District Management Services 06/25	$	5,589.68	
Simon Property Group, Inc.	300053	201187	Management Services 05/25	$	2,916.67	
Simon Property Group, Inc.	300053	201188	Management Services 06/25	$	2,916.67	

Vendor Name	 Check Number  Invoice Number	 Invoice Description	  Invoice Amount 

The Lake Doctors, Inc.	300049	2022761	Monthly Lake Maintenance 06/25	$	668.00	
VGlobal Tech	300050	7342	ADA Website Maintenance 06/25	$	220.00	
Waste Pro - Panama City	20250604-1	0001554723	Waste Removal 06/25	$	297.15	
Wet Willy's	300051	0005	Pressure Wash - Boardwalk 06/25	$	3,500.00	

Total				
$	
49,973.39	

Pier Park Community Development District

DISTRICT OFFICE · PANAMA CITY BEACH, FL 32407
Mailing Address · 3434 Colwell Avenue, Suite 200 · Tampa, Florida 33614
www.PierParkCDD.org

Operation and Maintenance Expenditures For Board Approval
July 2025

Attached please find the check register listing the Operation and Maintenance expenditures paid from July 1, 2025 through July 31, 2025. This does not include expenditures previously approved by the Board.

The total items being presented: $142,678.66

Approval of Expenditures:

	 Chairperson

	 Vice Chairperson

	 Assistant Secretary

Vendor Name		Check Number 	Invoice Number		Invoice Description		 Invoice Amount 	

4m Gro Pro, LLC	
300062	
138	
Irrigation Repair - Mainline (US-98) 07/25	
$	
25,000.00	
Berger, Toombs, Elam,	300058	372741	Audit Financial Statements FYE 09/30/24	$	4,250.00	
Gaines & Frank CPA						
Chris Tilley II	300063	CT071525	Board of Supervisors Meeting 07/15/25	$	200.00	
Christopher Von Tilley	300064	CT071525	Board of Supervisors Meeting 07/15/25	$	200.00	
City of Panama City Beach	20250730-1	Monthly Summary 07/25	Water Services 07/25	$	483.81	
		ACH				
Dumpster Services, LLC	300065	14434	Street Sweeping Services 06/25	$	1,845.00	
Florida Power & Light	300054	FPL Summary 06/25	FPL Summary 06/25	$	1,073.77	
Company		370				
Florida Power & Light	300071	FPL Summary 07/25	FPL Summary 07/25	$	1,418.44	
Company						
Florida Select Tree	300055	INV-5183	Tree Trimming 05/25	$	7,000.00	
Services, LLC						
Gannett Florida LocaliQ	300059	0007196721	Account #523224 Legal Advertising 06/25/25	$	351.72	

GreenEarth Southeast, LLC 300066	173088	Landscape Maintenance 07/25	$	12,834.67 Lee Ann Leonard	300067	LL071525	Board of Supervisors Meeting 07/15/25	$		200.00

Vendor Name		Check Number 	Invoice Number		Invoice Description		 Invoice Amount 	

Martin Horak	
300068	
MH071525	
Board of Supervisors Meeting 07/15/25	
$	
200.00	
Martin Horak	300075	MH052025	Board of Supervisors Meeting 05/20/25	$	200.00	
Rizzetta & Company, Inc.	300056	INV0000100485	District Management Services 07/25	$	5,589.68	
Southern Cat, Inc.	300060	12436	Barricade Relocation 07/25	$	2,750.00	
Southern Cat, Inc.	300072	12447	Barricade Relocation 07/25	$	2,750.00	
Southern Cat, Inc.	300076	12410	Barricade Relocation 05/25	$	1,448.00	
Southern Cat, Inc.	300076	12435	Barricade Relocation 07/25	$	1,448.00	
The Lake Doctors, Inc.	300069	2032414	Monthly Lake Maintenance 07/25	$	668.00	
Tightline Construction, Inc.	500000	2143	Sidewalk Repairs 07/25	$	35,000.00	
Tightline Construction, Inc.	500001	2144	Paver Repairs (Sidewalk) 07/25	$	29,700.00	
U.S. Bank	300057	7794394	Trustee Fees Series 2014 06/01/25-05/31/26	$	4,040.63	
VGlobal Tech	300070	7475	ADA Website Maintenance 07/25	$	220.00	

Pier Park Community Development District
Paid Operation & Maintenance Expenditures
July 1, 2025 Through July 31, 2025	

Vendor Name		
Check Number 	
Invoice Number		
Invoice Description		
 Invoice Amount 	

Waste Pro - Panama City Wet Willy's	
20250707-1

300061	
0001563313

0006	
Waste Removal 07/25

Pressure Wash - Boardwalk 07/25	
$

$		
306.94

3,500.00	

Total				
$		
142,678.66	

Pier Park Community Development District

DISTRICT OFFICE · PANAMA CITY BEACH, FL 32407
Mailing Address · 3434 Colwell Avenue, Suite 200 · Tampa, Florida 33614
www.PierParkCDD.org

Operation and Maintenance Expenditures For Board Approval
August 2025

Attached please find the check register listing the Operation and Maintenance expenditures paid from August 1, 2025 through August 31, 2025. This does not include expenditures previously approved by the Board.

The total items being presented: $75,004.56

Approval of Expenditures:

	 Chairperson

	 Vice Chairperson

	 Assistant Secretary

Vendor Name	 Check Number  Invoice Number	 Invoice Description	  Invoice Amount 

City of Panama City Beach	20250815-1	Monthly Summary 08/25
ACH	Water Services 08/25	$	520.32	
Coastal Electric PC LLC	300079	1993	Contactor Repair - Parking & Overflow Parking 08/25	$	2,186.20	
Coastal Electric PC LLC	300083	2001	Burnt Wire - Front Beach Road West Parking 08/25	$	12,713.64	
Coastal Electric PC LLC	300083	2002	Additional Lighting - Front Beach Road 08/25	$	14,695.00	
Coastal Electric PC LLC	300083	2007	Service Call - Streetlights 08/25	$	720.00	
Dumpster Services, LLC	300080	14653	Street Sweeping Services 07/25	$	1,660.50	
Florida Select Tree Services, LLC	300084	INV-5162	Remove (6) Oaks 04/25	$	11,500.00	
Gannett Florida LocaliQ	300082	0007248569	Account #523224 Legal Advertising 07/02/25	$	159.21	
GreenEarth Southeast, LLC	300087	179180	Landscape Maintenance 08/25	$	12,834.67	
Kutak Rock, LLP	300077	3598455	Legal Services 02/25 - 06/25	$	4,621.50	
Kutak Rock, LLP	300085	3611686	Legal Services 07/25	$	1,082.50	
Rizzetta & Company, Inc.	300078	INV0000101213	District Management Services 08/25	$	5,589.68	

Vendor Name		Check Number  Invoice Number		Invoice Description		 Invoice Amount 	

Simon Property Group, Inc.	
300081	
201189	
Management Services 07/25	
$	
2,916.67	
Simon Property Group, Inc.	300081	201190	Management Services 08/25	$	2,916.67	
The Lake Doctors, Inc.	300086	2044938	Monthly Lake Maintenance 08/25	$	668.00	
VGlobal Tech	300088	7554	ADA Website Maintenance 08/25	$	220.00	

Total				
$	
75,004.56	

Pier Park Community Development District

DISTRICT OFFICE · PANAMA CITY BEACH, FL 32407
Mailing Address · 3434 Colwell Avenue, Suite 200 · Tampa, Florida 33614
www.PierParkCDD.org

Operation and Maintenance Expenditures For Board Approval
September 2025

Attached please find the check register listing the Operation and Maintenance expenditures paid from September 1, 2025 through September 30, 2025. This does not include expenditures previously approved by the Board.
The total items being presented: $29,210.19

Approval of Expenditures:

	 Chairperson

	 Vice Chairperson

	 Assistant Secretary

Pier Park Community Development District
Paid Operation & Maintenance Expenditures
September 1, 2025 Through September 30, 2025

Vendor Name		Check Number  Invoice Number		Invoice Description		 Invoice Amount 	

City of Panama City Beach	
20250917-1	
Monthly Summary 09/25 ACH	
Water Services 09/25	
$	
399.99	
Dumpster Services, LLC	300098	14824	Street Sweeping Services 08/25	$	1,906.50	
Florida Power & Light Company	300090	FPL Summary 08/25	FPL Summary 08/25	$	1,154.69	
GreenEarth Southeast, LLC	300101	185187	Landscape Maintenance 09/25	$	12,834.66	
Rizzetta & Company, Inc.	300089	INV0000102258	District Management Services 09/25	$	5,589.68	
Simon Property Group, Inc.	300099	201191	Management Services 09/25	$	2,916.67	
The Lake Doctors, Inc.	300091	709713	Monthly Lake Maintenance 09/25	$	688.00	
VGlobal Tech	300102	7635	ADA Website Maintenance 09/25	$	220.00	
Wet Willy's	300100	0010	Pressure Wash - Boardwalk 09/25	$	3,500.00	

Total				
$	
29,210.19	

Tab 3

RESOLUTION 2026-02

A RESOLUTION RATIFYING THE ACTIONS OF THE DISTRICT IN DESIGNATING A CHAIR, A VICE CHAIR, AND ASSISTANT SECRETARIES OF THE PIER PARK COMMUNITY DEVELOPMENT DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Pier Park Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in City of Panama City Beach, Florida; and

WHEREAS, the Board of Supervisors of the District hereby ratifies the actions of the District in appointing the below-recited persons to the offices specified.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PIER PARK COMMUNITY DEVELOPMENT DISTRICT:

	 is appointed Chair.
	 is appointed Vice Chair.

	                         is appointed Assistant Secretary.	
	                         is appointed Assistant Secretary.	
	                         is appointed Assistant Secretary.	

This Resolution shall become effective immediately upon its adoption.

Adopted this 17TH day of November 2025.
ATTEST:	PIER PARK COMMUNITY DEVELOPMENT DISTRICT

Secretary	Chair/Vice Chair

Tab 4

Pier Park Community Development District ANNUAL FINANCIAL REPORT
September 30, 2024

Pier Park Community Development District	
ANNUAL FINANCIAL REPORT	
September 30, 2024	
TABLE OF CONTENTS	
Page Number	
REPORT OF INDEPENDENT AUDITORS	1-3	
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-9	
BASIC FINANCIAL STATEMENTS:
Government-wide Financial Statements: Statement of Net Position Statement of Activities
Fund Financial Statements:
Balance Sheet – Governmental Funds Reconciliation of Total Governmental Fund Balances
to Net Position of Governmental Activities
Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – General Fund
Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Special Revenue Fund	

10
11

12

13

14

15

16

17	
Notes to Financial Statements	18-28	

INDEPENDENT AUDITORS’ 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	29-30
MANAGEMENT LETTER	31-33
INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH
SECTION 218.415, FLORIDA STATUTES	34

REPORT OF INDEPENDENT AUDITORS

To the Board of Supervisors
Pier Park Community Development District Panama City Beach, Florida

Report on Audit of the Financial Statements
Opinion

We have audited the financial statements of the governmental activities and each major fund of Pier Park Community Development District (the “District”), as of and for the year ended September 30, 2024, and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of Pier Park Community Development District as of September 30, 2024, and the respective changes in financial position and the budgetary comparison for the General and Special Revenue Funds for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS), and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards). 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 audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of these 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.
- 1 -

To the Board of Supervisors
Pier Park Community Development District

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 one year beyond the financial statement date, including currently known information that may raise substantial doubt thereafter.

Auditor’s Responsibility 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 opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore, is not a guarantee that an audit conducted in accordance with GAAS 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 GAAS and Government Auditing Standards, we:

Exercise professional judgement 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 judgement, 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.

- 2 -

To the Board of Supervisors
Pier Park Community Development District

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management’s Discussion and Analysis 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 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 Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued a report dated June 17, 2025 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 and contracts.

The purpose of that report is 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 Pier Park Community Development District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida June 17, 2025

- 3 -

Management’s discussion and analysis of Pier Park Community Development District’s (the “District”) financial performance provides an objective and easily readable analysis of the District’s financial activities. The analysis provides summary financial information for the District and should be read in conjunction with the District’s financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS

The District’s basic financial statements comprise three components; 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The Government-wide financial statements present an overall picture of the District’s financial position and results of operations. The Fund financial statements present financial information for the District’s major funds. The Notes to financial statements provide additional information concerning the District’s finances.
The Government-wide financial statements are the statement of net position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and the change in net position. Governmental activities are primarily supported by special assessments and licenses and permits.
The statement of net position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Net position is reported in three categories; 1) net investment in capital assets, 2) restricted, and 3) unrestricted. Assets, liabilities, and net position are reported for all Governmental activities.

The statement of activities presents information on all revenues and expenses of the District and the change in net position. Expenses are reported by major function and program revenues relating to those functions are reported, providing the net cost of all functions provided by the District. To assist in understanding the District’s operations, expenses have been reported as governmental activities. Governmental activities financed by the District include general government, physical environment, culture/recreation and debt service.

Fund financial statements present financial information for governmental funds. These statements provide financial information for the major funds of the District. Governmental fund financial statements provide information on the current assets and liabilities of the funds, changes in current financial resources (revenues and expenditures), and current available resources.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances – budget and actual is provided for the District’s General and Special Revenue Funds. Fund financial statements provide more detailed information about the District’s activities. Individual funds are established by the District to track revenues that are restricted to certain uses or to comply with legal requirements.

The government-wide financial statements and the fund financial statements provide different pictures of the District. The government-wide financial statements provide an overall picture of the District’s financial standing. These statements are comparable to private-sector companies and give a good understanding of the District’s overall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including capital assets, are reported in the statement of net position. All liabilities, including principal outstanding on bonds are included. The statement of activities includes depreciation on all long-lived assets of the District, but transactions between the different functions of the District have been eliminated in order to avoid “doubling up” the revenues and expenses. The fund financial statements provide a picture of the major funds of the District. In the case of governmental activities, outlays for long lived assets are reported as expenditures and long-term liabilities, such as capital improvement revenue bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government-wide financial statements, reconciliations are provided from the fund financial statements to the government-wide financial statements.
Notes to financial statements provide additional detail concerning the financial activities and financial balances of the District. Additional information about the accounting practices of the District, investments of the District, capital assets and long-term debt are some of the items included in the notes to financial statements.
Financial Highlights

The following are the highlights of financial activity for the year ended September 30, 2024.

The District’s total assets were exceeded by total liabilities by $(8,823,606) (net position). Net investment in capital assets for the District was $(2,143,523). Unrestricted net position was $(6,680,083).

Governmental activities revenues totaled $1,742,526 while governmental activities expenses totaled $989,210.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District

The following schedule provides a summary of the assets, liabilities and net position of the District and is presented by category for comparison purposes.

Net Position
Governmental Activities 2024	2023
Current assets	
$	
401,701	
$	
238,594	
Restricted assets		121,677		195,291	
Capital assets		       418,146 		       525,383 	
Total Assets		       941,524 		       959,268 	
Current liabilities	1,020,130	981,190	
Non-current liabilities		8,745,000 		9,555,000 	
Total Liabilities		9,765,130 		10,536,190 	
Net Position					
Net investment in capital assets		(2,143,523)		(2,036,286)	
Restricted		-		40,697	
Unrestricted		     (6,680,083)		     (7,581,333)	
Total Net Position	 $		(8,823,606)	 $		(9,576,922)	

The increase in current assets is related to the increase in cash balances at year end.

The decrease in restricted assets is due to the decrease in investment balances at year end.

The increase in current liabilities is primarily related to the increase in accounts payable in the current year.
The reduction in non-current liabilities is primarily the result of the principal payments on bonds payable in the current year.
The reduction in capital assets and net investment in capital assets is related to depreciation.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Financial Analysis of the District (Continued)
The following schedule provides a summary of the changes in net position of the District and is presented by category for comparison purposes.
Change In Net Position

	Governmental Activities	
Program Revenues Charges for services
Operating grants and contributions General Revenues
Licenses and permits Investment earnings
Total Revenues		    2024			    2023		
	$	867,711	$	815,052	
		610,550		22,803	
		242,958		1,277,882	
		     21,307 		     12,519 	
		   1,742,526 		   2,128,256 	
Expenses
General government Physical environment Culture/recreation Subordinated note payments Interest and other charges
Total Expenses	
175,327
329,721
124,803
-
	359,359 
	989,210 		
165,775
381,291
170,407
775,910
    386,733 
   1,880,116 	
Change in Net Position		753,316		248,140	
Net Position - Beginning of Year		(9,576,922) 		   (9,825,062) 	
Net Position - End of Year	 $ 	(8,823,606) 	 $ 	(9,576,922) 	

The increase in charges for services is related to the increase in special assessments in the current year.

The increase in operating grants and contributions and decrease in licenses and permits is primarily due to a change in the reporting of revenues, in addition to the decrease in license revenues collected in the current year.
The decrease in physical environment and culture/recreation is related to the decrease in beachfront expenses in the current year.
The decrease in subordinated note payments is related to the note being paid off in the prior year.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
Capital Assets Activity

The following schedule provides a summary of the District’s capital assets as of September 30,
2024 and 2023:				

 Description	
Improvements other than buildings Infrastructure
Less: accumulated depreciation		Governmental Activities	
	2024	 	2023	
$	477,089	$	477,089
2,084,580	2,084,580
	(2,143,523)		(2,036,286)	
Governmental Activities Capital Assets	 $	418,146 		 $	525,383 	

During the year, depreciation was $107,237.				
General Fund Budgetary Highlights				

The General Fund budgeted expenditures exceeded actual expenditures in the current year because use of reserves, and landscape maintenance and utility expenditures were less than anticipated.

The September 30, 2024 budget was not amended.
Debt Management

Governmental Activities debt includes the following:

In May 2014, the District issued $16,220,000 Series 2014 Capital Improvement Revenue Refunding Bonds. These bonds were issued to refund the Series 2002 Capital Improvement Revenue Bonds. As of September 30, 2024, the balance outstanding for the Series 2014 Bonds was $9,555,000.

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Economic Factors and Next Year’s Budget

Pier Park Community Development District expects reduced beachfront expenditures for the fiscal year 2025, as the maintenance responsibilities were transferred to the City in the current fiscal year.
Request for Information

The financial report is designed to provide a general overview of Pier Park Community Development District’s finances for all those with an interest. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Pier Park Community Development District’s Accounting Department at 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614.

Pier Park Community Development District	
STATEMENT OF NET POSITION	
September 30, 2024			

Governmental	
		Activities	
ASSETS			
Current Assets			
Cash	$	398,782	
Prepaid expenses		2,694	
Deposits		225 	
Total Current Assets		401,701 	
Non-Current Assets		
Restricted Assets			
Investments		121,677	
Capital Assets, Being Depreciated			
Improvements other than buildings		477,089	
Infrastructure		2,084,580	
Accumulated depreciation		(2,143,523)	
Total Non-Current Assets		539,823 	
Total Assets		941,524 	
LIABILITIES			
Current Liabilities			
Accounts payable and accrued expenses		67,203	
Bonds payable		810,000	
Accrued interest		142,927 	
Total Current Liabilities		1,020,130 	
Non-Current Liabilities		
Bonds payable		8,745,000 	
Total Liabilities		9,765,130 	
NET POSITION			
Net investment in capital assets		(2,143,523)	
Unrestricted		(6,680,083)	
Total Net Position	 $		(8,823,606)	

See accompanying notes to financial statements.

- 10 -

Pier Park Community Development District STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2024

Net (Expenses) Revenues and Changes in
Program Revenues	Net Position Operating
	Charges for	Grants and	Governmental	
Functions/Programs	Expenses	Services	Contributions	Activities	

Governmental Activities General government Physical environment Culture/recreation
Interest and other charges
Total Governmental Activities		
$

 $		
(175,327)
(329,721)
(124,803)
      (359,359)
(989,210)		 

$	165,825	$	- 244,050		-
10,250	-
	447,586  	610,550 
 $	867,711   $	610,550 		
$	
(9,502)
(85,671)
(114,553)
       698,777 
489,051	
					 
General Revenues Licenses and permits Investment income
Total General Revenues		

242,958
	21,307 
	264,265 	
					Changes in Net Position			753,316	
					Net Position - Beginning of Year			(9,576,922)	
					Net Position - End of Year		 $		(8,823,606)	

See accompanying notes to financial statements.

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Pier Park Community Development District			
BALANCE SHEET -			
GOVERNMENTAL FUNDS			
September 30, 2024			
		
Total	
Debt		Governmental	
	General	Service		Funds	
 
ASSETS			
Cash	$	398,782	$	-		$	398,782	
Prepaid expenses	2,694	-		2,694	
Deposits	225	-		225	
Restricted assets			
Investments	-	121,677		121,677	
Total Assets	$	401,701	$	121,677		$	523,378	

LIABILITIES AND FUND BALANCES			
LIABILITIES			
Accounts payable and accrued expenses	$	67,203	$	-		$	67,203	

FUND BALANCES			
Nonspendable - prepaid expenses/deposits	2,919	-		2,919	
Restricted:			
Debt service	-	121,677		121,677	
Unassigned	331,579	-		331,579	
Total Fund Balances	
334,498	
121,677		456,175	

Total Liabilities and Fund Balances	

$	401,701	

$	121,677		
$	523,378	

Pier Park Community Development District RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES
TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2024

Total Governmental Fund Balances	$	456,175	
Amounts reported for governmental activities in the Statement of Net Position are different because:			
Capital assets, improvements other than buildings, $477,089, and infrastructure, $2,084,580, net of accumulated depreciation, $(2,143,523), used in governmental activities are not current financial resources, and therefore, are not reported at the fund level.		

418,146	
Long-term liabilities, bonds payable, are not due and payable in the current period, and therefore, are not reported at the fund level.		
(9,555,000)	
Accrued interest expense for long-term debt is not a current financial use, and therefore, is not reported at the fund level.		
(142,927)	

Net Position of Governmental Activities	
$	
(8,823,606)	

Pier Park Community Development District	
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES	
IN FUND BALANCES - GOVERNMENTAL FUNDS	
For the Year Ended September 30, 2024	
								Total	
				Special		Debt		Governmental	
	General		Revenue		Service		Funds	
Revenues									
Special assessments	$	420,125		$	-	$	447,586		$	867,711	
Intergovernmental revenues		-		-		610,550		610,550	
Licenses and permits		-		242,958		-		242,958	
Investment income		-		2,031		19,276		21,307	
Total Revenues		420,125		244,989		1,077,412		1,742,526	

Expenditures									
Current									
General government		138,193		37,134		-		175,327	
Physical environment		203,383		34,325		-		237,708	
Culture/recreation		8,542		116,261		-		124,803	
Debt service									
Principal		-		-		780,000		780,000	
Interest		-		-		371,026		371,026	
Total Expenditures		350,118		187,720		1,151,026		1,688,864	

Excess of revenues over/(under)									
expenditures		70,007		57,269		(73,614)		53,662	

Other Financing Sources/(Uses)									
Insurance proceeds		15,224		-		-		15,224	
Transfers in		158,202		-		-		158,202	
Transfers out		-		(158,202)		-		(158,202)	
Total Other Financing Sources/(Uses)		173,426		(158,202)		-		15,224	

Net Change in Fund Balances		
243,433		
(100,933)		
(73,614)		
68,886	
Fund Balances - Beginning of Year		91,065		100,933		195,291		387,289	

Fund Balances - End of Year	
$	
334,498		
$	-	$	121,677		
$	456,175	

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
For the Year Ended September 30, 2024

Net Change in Fund Balances - Total Governmental Funds	$	68,886	
Amounts reported for governmental activities in the Statement of Activities are different because:			
Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation. This is the amount of depreciation in the current period.		

(107,237)	
Repayments of bond principal are expenditures at the fund level, but the repayment reduces long-term liabilities at the government-wide level.		
780,000	
In the Statement of Activities, interest is accrued on outstanding bonds; whereas at the governmental funds level, interest expenditures are reported when due. This is the change in accrued interest in the current period.		

11,667	

Change in Net Position of Governmental Activities	
$	
753,316	

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - GENERAL FUND
For the Year Ended September 30, 2024

Variance with

Revenues
Special assessments	

$	
Original Budget

414,419	
Final Budget

$	414,419	

Actual

$	420,125	Final Budget Positive (Negative)

$	5,706	

Expenditures Current
General government Physical environment Culture/recreation
Total Expenditures		

149,515
235,142
29,762
414,419	

149,515
235,142
29,762

414,419		

138,193
203,383
8,542

350,118		

11,322
31,759
21,220

64,301	
Excess of revenues over/(under) expenditures		

-	

-		

70,007		

70,007	

Other Financing Sources/(Uses) Insurance proceeds
Transfers in
Total Other Financing Sources/(Uses)		

-
-
-	

-
-

-		

15,224
158,202

173,426		

15,224
158,202

173,426	

Net Change in Fund Balances		
-	
-		
243,433		
243,433	
Fund Balances - Beginning of Year		-	-		91,065		91,065	

Fund Balances - End of Year	
$	
-	
$	-		
$	334,498		
$	334,498	

See accompanying notes to financial statements.

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - SPECIAL REVENUE FUND
For the Year Ended September 30, 2024

Variance with	
Final Budget	
	Original			Final						Positive	
	Budget			Budget			Actual			(Negative)	
Revenues												
Licenses and permits	$	450,824		$  450,824		$	242,958		$	(207,866)	
Investment income		-			-		2,031			2,031	
Total Revenues	450,824		450,824		244,989			(205,835)	

Expenditures												
Current												
General government	38,077		38,077		37,134			943	
Physical environment	104,521		104,521		34,325			70,196	
Culture/recreation	308,226		308,226		116,261			191,965	
Total Expenditures	450,824		450,824		187,720			263,104	

Excess of revenues over/(under)		
-			
-		
57,269			
57,269	
expenditures												
Other Financing Sources/(Uses)												
Transfers out		-			-		(158,202)			(158,202)	

Net Change in Fund Balances		
-			
-		
(100,933)			
(100,933)	
Fund Balances - Beginning of Year		-			-		100,933			100,933	

Fund Balances - End of Year	
$	
-		
$	
-		
$	
-		
$	
-	

The financial statements of the District have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The District's more significant accounting policies are described below.
Reporting Entity
The District was established on March 22, 2001, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), by Panama City Beach Ordinance #716 as a Community Development District. The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of the infrastructure necessary for community development within its jurisdiction. The District is authorized to issue bonds for the purpose, among others, of financing, funding, planning, establishing, acquiring, constructing district roads, landscaping, and other basic infrastructure projects within or outside the boundaries of the Pier Park Community Development District. The District is governed by a five member Board of Supervisors who are elected on an at large basis by landowners within the District. The District operates within the criteria established by Chapter 190, Florida Statutes.
As required by GAAP, these financial statements present the Pier Park Community Development District (the primary government) as a stand-alone government. The reporting entity for the District includes all functions of government in which the District’s Board exercises oversight responsibility including, but not limited to, financial interdependency, selection of governing authority, designation of management, significant ability to influence operations and accountability for fiscal matters.
Based upon the application of the above-mentioned criteria as set forth by the Governmental Accounting Standards Board, the District has identified no component units.
Measurement Focus and Basis of Accounting

The basic financial statements of the District are composed of the following:

Government-wide financial statements
Fund financial statements
Notes to financial statements

Measurement Focus and Basis of Accounting (Continued)

Government-wide Financial Statements

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Government-wide financial statements report all non-fiduciary information about the reporting government as a whole. These statements include all the governmental activities of the primary government. The effect of interfund activity has been removed from these statements.
Governmental activities are supported by special assessments, licenses and permits, and interest. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.
Amounts paid to acquire capital assets are capitalized as assets, rather than reported as an expenditure. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as an other financing source.

Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
Fund Financial Statements

The underlying accounting system of the District is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
Fund financial statements for the primary government’s governmental funds are presented after the government-wide financial statements. These statements display information about major funds individually.

2. Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds
The District classifies fund balance according to Governmental Accounting Standards Board Statement 54 – Fund Balance Reporting and Governmental Fund Type Definitions. The Statement requires the fund balance for governmental funds to be reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent.
The District has various policies governing the fund balance classifications.

Nonspendable Fund Balance – This classification consists of amounts that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact.

Restricted Fund Balance – This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers, or through enabling legislation.
Assigned Fund Balance – This classification consists of the Board of Supervisors’ intent to be used for specific purposes, but are neither restricted nor committed. The assigned fund balances can also be assigned by the District’s management company.
Unassigned Fund Balance – This classification is the residual classification for the government’s general fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used.

Fund Balance Spending Hierarchy – For all governmental funds except special revenue funds, when restricted, committed, assigned, and unassigned fund balances are combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as appropriate, then assigned and finally unassigned fund balances.

Measurement Focus and Basis of Accounting (Continued)

b. Fund Financial Statements (Continued) Governmental Funds (Continued)
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collected within the current period or soon thereafter, to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Interest associated with the current fiscal period is considered to be an accrual item and so has been recognized as revenue of the current fiscal period.

Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of “available spendable resources”.

Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of “available spendable resources” during a period.
Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.

Amounts expended to acquire capital assets are recorded as expenditures in the year that resources are expended, rather than as fund assets. The proceeds of long-term debt are recorded as an other financing source rather than as a fund liability.
Debt service expenditures are recorded only when payment is due.

Basis of Presentation

Governmental Major Funds

General Fund – The General Fund is the District’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

Basis of Presentation (Continued)

Governmental Major Funds (Continued)

Special Revenue Fund – The Special Revenue Fund accounted for the operation of park and beachfront improvements. The Special Revenue Fund closed in the current year.
Debt Service Fund – Accounts for debt service requirements to retire the capital improvement revenue bonds which were used to finance the construction of District infrastructure improvements. The bonds are secured by a first lien on and pledge of the Special Assessment Revenues and pledged Funds.

Non-current Governmental Assets/Liabilities

GASB Statement 34 requires that non-current governmental assets, such as capital assets, and non-current governmental liabilities, such as capital improvement revenue bonds, be reported in the governmental activities column in the government-wide Statement of Net Position.

Assets, Liabilities, and Net Position or Equity

Cash and Investments

Florida Statutes require state and local governmental units to deposit monies with financial institutions classified as "Qualified Public Depositories," a multiple financial institution pool whereby groups of securities pledged by the various financial institutions provide common collateral from their deposits of public funds. This pool is provided as additional insurance to the federal depository insurance and allows for additional assessments against the member institutions, providing full insurance for public deposits.
The District is authorized to invest in those financial instruments as established by Section 218.415, Florida Statutes. The authorized investments consist of:
Direct obligations of the United States Treasury;

The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperative Act of 1969;
Interest-bearing time deposits or savings accounts in authorized qualified public depositories;

Securities and Exchange Commission, registered money market funds with the highest credit quality rating from a nationally recognized rating agency.

Assets, Liabilities, and Net Position or Equity (Continued)
Cash and Investments (Continued)
Cash equivalents include time deposits and all highly liquid debt instruments with original maturities of three months or less and held in a qualified public depository as defined by Section 280.02, Florida Statutes.
Restricted Net Position
Certain net position of the District is classified as restricted on the statement of net position because their use is limited either by law through constitutional provisions or enabling legislation; or by restrictions imposed externally by creditors. In a fund with both restricted and unrestricted net position, qualified expenses are considered to be paid first from restricted net position and then from unrestricted net position.
Capital Assets
Capital assets, which include improvements other than buildings and infrastructure, are reported in the governmental activities column.
The District defines capital assets as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of two years. The valuation basis for all assets is historical cost.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed.
Depreciation of capital assets is computed and recorded by utilizing the straight-line method. Estimated useful lives of the various classes of depreciable capital assets are as follows.
Infrastructure	25 years
Improvements other than buildings	20 years

4. Assets, Liabilities, and Net Position or Equity (Continued)

Budgets

Budgets are prepared and adopted after public hearings for the governmental funds, pursuant to Chapter 190, Florida Statutes. The District utilizes the same basis of accounting for budgets as it does for revenues and expenditures in its various funds. The legal level of budgetary control is at the fund level. All budgeted appropriations lapse at year end. Formal budgets are adopted for the general, special revenue, and debt service funds. As a result, deficits in the budget columns of the accompanying financial statements may occur.
NOTE B – CASH AND INVESTMENTS

All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments.
Custodial Credit Risk – Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does not have a formal deposit policy for custodial credit risk; however, they follow the provisions of Chapter 280, Florida Statutes regarding deposits and investments. As of September 30, 2024, the District's bank balance was $700,400 and the carrying value was $398,782. Exposure to custodial credit risk was as follows. The District maintains all deposits in a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes, which means that all deposits are fully insured by Federal Depositors Insurance or collateralized under Chapter 280, Florida Statutes.

Investments

As of September 30, 2024, the District had the following investments and maturities:

	Investment			Maturities			Fair Value		
First American Treasury Obligation	31 Days*	 $		121,677 	
*Weighted average maturity				

The District categorizes its fair value measurement within the fair value hierarchy established by generally accepted accounting principles. The fair value is 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. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities.
Assets or liabilities are classified into one of three levels. Level 1 is the most realizable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtained quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that uses the best information available under the circumstances which includes the District's own data in measuring unobservable inputs.

Based on the criteria in the preceding paragraph, the investment listed above is a Level 1 asset. Interest Rate Risk
The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.
Credit Risk

The District's investments are limited by state statutory requirements and bond compliance. The District has no investment policy that would further limit its investment choices. As of September 30, 2024, the District’s investments in First American Treasury Obligation was rated AAAm by Standard & Poor’s.

Concentration of Credit Risk

The District places no limit on the amount it may invest in any one fund. The investments in First American Treasury Obligation were 100% of the District’s total investments.
The types of deposits and investments and their level of risk exposure as of September 30, 2024 were typical of these items during the fiscal year then ended. The District considers any decline in fair value for certain investments to be temporary.

NOTE C – CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2024 was as follows:

Balance				Balance	
	October 1,			September 30,	
		2023			Additions		 Disposals  		2024		
Governmental activities:				
Capital assets, being depreciated:							
Improvements other than buildings	$	477,089	$	-	$	-	$	477,089	
Infrastructure		2,084,580 		- 		-  		2,084,580 	
Total Capital Assets, Being Depreciated		2,561,669 		- 		-  		2,561,669 	
Less accumulated depreciation for:							
Improvements other than buildings		(452,956)		(23,854)	-	(476,810)	
Infrastructure		(1,583,330)		(83,383)		-  		(1,666,713)	
Total Accumulated Depreciation		(2,036,286)		(107,237)		-  		(2,143,523)	
Total Capital Assets Depreciated, Net	 $		525,383 	 $		(107,237)	 $	-   $	418,146 	
Current year depreciation of $107,237 was charged to physical environment.
NOTE D – LONG-TERM DEBT
Governmental Activities
The following is a summary of activity for long-term debt of the Governmental Activities for the year ended September 30, 2024:

Long-term debt at October 1, 2023	$	10,335,000	
Principal payments		(780,000)	
Long-term debt at September 30, 2024	$	9,555,000	
Long-term debt for Governmental Activities is comprised of the following:		
Capital Improvement Revenue Refunding Bonds		
$16,220,000 Series 2014 Capital Improvement Revenue and Refunding Bonds are due in annual principal installments beginning May 2015 maturing May 2034. Interest of 3.59% is due semiannually in May and November beginning November
2014. Current portion is $810,000.	

$	9,555,000	

NOTE D – LONG-TERM DEBT (CONTINUED)
The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2024 are as follows:

Year Ending
  September 30, 	
	Principal		
	Interest		
	Total		
2025	$	810,000	$	343,025	$	1,153,025	
2026	840,000	313,946	1,153,946	
2027	870,000	283,789	1,153,789	
2028	900,000	252,557	1,152,557	
2029	935,000	220,247	1,155,247	
2030-2034		5,200,000 		573,324 		5,773,324 	
Totals	 $	9,555,000 	 $	1,986,888 	 $	11,541,888 	
Significant Bond Provisions
The Trust Indenture established certain restrictions 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 agreed to levy special assessments in annual amounts adequate to provide payment of debt service. The District is in compliance with the requirements of the Bond Indenture.
The District has entered into a Public Improvement Partnership Agreement (the “Agreement”) with the CRA whereby the CRA has agreed to transfer to the trustee on or before January 31 of each year, for as long as the Bonds are outstanding, certain tax increment revenues as defined in the Bond Indenture for payment of debt service on the Bonds. In accordance with the Agreement, the District received $610,550 in tax increment revenues during the fiscal year ended September 30, 2024.

Pursuant to the Agreement, the City has also pledged certain occupational license revenues to the District. During the fiscal year ended September 30, 2024, the District recognized $242,958 of occupational license tax revenues from the City. The revenues are to be used in the following order:
Payment of debt service on the Bonds.
Payment of certain maintenance costs within the District.

NOTE E – SPECIAL ASSESSMENT REVENUES
Assessment revenues recognized for the 2023-2024 fiscal year were levied in October 2023. All taxes are due and payable on November 1 or as soon as the assessment roll is certified and delivered to the Tax Collector. Per Section 197.162, Florida Statutes, discounts are allowed for early payment at the rate of 4% in November, 3% in December, 2% in January, and 1% in February. Taxes paid in March are without discount.
All unpaid taxes become delinquent as of April 1. Virtually all unpaid taxes are collected via the sale of tax certificates on or prior to June 1; therefore, there were no material taxes receivable at fiscal year end.
NOTE F – INTERFUND TRANSFERS

Interfund transfers for the year ending September 30, 2024, consisted of the following:

Transfers out
Transfers in	Special Revenue Fund
	
General Fund	$	158,202

Interfund transfers relate to the closing of the Special Revenue Fund by the direction of the Board of Supervisors.
NOTE G – ECONOMIC DEPENDENCY

A significant portion of the District’s activity is dependent upon continued involvement of the Developers, the loss of which could have a material adverse effect on the District’s operations. At September 30, 2024, the Developers owned a significant amount of the assessable property located within the District’s boundaries. As of September 30, 2024, three of the board members were affiliated with the Developer, two of which are immediate family members.
NOTE H – 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 for which the government carries commercial insurance. Settled claims from these risks have not exceeded commercial insurance coverage over the past three years.

INDEPENDENT AUDITORS’ 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
Pier Park Community Development District Panama City Beach, 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, as listed in the table of contents, of Pier Park Community Development District, as of and for the year ended September 30, 2024, and the related notes to the financial statements, which collectively comprise the basic financial statements and have issued our report thereon dated June 17, 2025.

Report on Internal Control Over Financial Reporting
In planning and performing our audit, we considered Pier Park Community Development 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 Pier Park Community Development District’s internal control. Accordingly, we do not express an opinion on the effectiveness of Pier Park Community Development 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 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 have not been identified.

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To the Board of Supervisors
Pier Park Community Development District

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Pier Park Community Development District's financial statements are free of 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 determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

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

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida June 17, 2025

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MANAGEMENT LETTER

To the Board of Supervisors
Pier Park Community Development District Panama City Beach, Florida

Report on the Financial Statements
We have audited the financial statements of the Pier Park Community Development District as of and for the year ended September 30, 2024, and have issued our report thereon dated June 17, 2025.
Auditor’s Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and Chapter 10.550, Rules of the Florida Auditor General.
Other Reports and Schedule
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 Financial Statements Performed in Accordance with Government Auditing Standards and our Independent Auditor’s Report on an examination conducted in accordance with AICPA Professionals Standards, AT-C Section 315 regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in that report, which is dated June 17, 2025, 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 made to address findings and recommendations made in the preceding financial audit report. The following finding was made in the preceding financial audit report.
Finding 2022-01
Finding: Actual expenditures exceeded budgeted amounts for the Special Revenue Fund for the year ended September 30, 2022 and September 30, 2023.
Current Status: The finding was corrected in the current fiscal year.

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To the Board of Supervisors
Pier Park Community Development District
Financial Condition and Management
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, requires us to apply appropriate procedures and communicate the results of our determination as to whether or not Pier Park Community Development District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific conditions met. In connection with our audit, we determined that the Pier Park Community Development District has not met one 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 conditions assessment procedures as of September 30, 2024 for the Pier Park Community Development District. It is management’s responsibility to monitor the Pier Park Community Development District’s financial condition; our financial condition assessment was based in part on the representations made by management and the review of the financial information provided by the same.
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.
Specific Information

The information below was provided by management and has not been audited by us; therefore, we do not express an opinion or provide any assurance on the information.

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)7, Rules of the Auditor General, Pier Park Community Development District reported:
The total number of District employees compensated in the last pay period of the District’s fiscal year: 0
The total number of independent contractors, defined as individuals or entities that receive 1099s, to whom nonemployee compensation was paid in the last month of the District’s fiscal year: 0
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency: $0
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $38,048
Each construction project with a total cost of at least $65,000 approved by the District that is scheduled to begin on or after October 1, 2023, together with the total expenditures for such project: N/A
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported if the District amends a final adopted budget under Section 189.016(6), Florida Statutes: The Board did not amend the budget.

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To the Board of Supervisors
Pier Park Community Development District
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)9, Rules of the Auditor General, the Pier Park Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District:
$0.31 per square foot for the General Fund and $0.33 per square foot for the Debt Service Fund.
The amount of special assessments collected by or on behalf of the District: Total special assessments collected was $867,711.
The total amount of outstanding bonds issued by the District and the terms of such bonds are as follows: $9,555,000 Series 2014 Bonds due on May 1, 2034 at a fixed interest rate of 3.59%.

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 fraud, waste, or abuse, that has occurred or is likely to have occurred, that has an effect on the financial statements that is less than material, but which 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, Federal and other granting agencies, 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.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida June 17, 2025

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INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES

To the Board of Supervisors
Pier Park Community Development District Panama City Beach, Florida

We have examined Pier Park Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2024. Management is responsible for Pier Park Community Development District’s compliance with those requirements. Our responsibility is to express an opinion on Pier Park Community Development District’s compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Pier Park Community Development District’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Pier Park Community Development District's compliance with the specified requirements.

In our opinion, Pier Park Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2024.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida June 17, 2025

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Egis Insurance & Risk Advisors
Is pleased to provide a Confirmation of Insurance Coverage for:

Pier Park Community Development District

Effective: October 1, 2025
Coverage Confirmation Expiration Date: November 30, 2025

Please review the Confirmation of insurance coverage terms and conditions carefully.

The brief description of coverage contained in this document is being provided as an accommodation only and is not intended to cover or describe all Coverage Agreement terms. For more complete and detailed information relating to the scope and limits of coverage, please refer directly to the Coverage Agreement forms. Specimen forms are available upon request. The forms used in the specimen are tentative (per expiring). Updated versions of the forms will be provided once they are finalized and approved by the Office Of Insurance Regulation.

Coverage Confirmation being provided for:

Pier Park Community Development District c/o Rizzetta & Company
3434 Colwell Ave, Suite 200
Tampa, FL 33614
Term: October 1, 2025 to October 1, 2026

Policy Number: 100125637

PROPERTY COVERAGE
SCHEDULE OF COVERAGES AND LIMITS OF COVERAGE
COVERED PROPERTY	
Total Insured Values – Building and Contents – Per Schedule on file totalling	$1,389,789	
Loss of Business Income	$1,000,000	
Additional Expense	$1,000,000	
Inland Marine	
Scheduled Inland Marine	Not Included	
It is agreed to include automatically under this Insurance the interest of mortgagees and loss payees where applicable without advice.

	Valuation	Coinsurance	
Property	Replacement Cost	None	
Inland Marine	Actual Cash Value	None	

DEDUCTIBLES:	$2,500	Per Occurrence, All other Perils, Building & Contents and
Extensions of Coverage.	
	5 %	Total Insured Values per building, including content, inland marine, vehicle values, for “Named Storm” at each
affected location throughout Florida subject to a minimum of $10,000 per occurrence, per Named Insured.	
	Per Attached Schedule	Inland Marine, All other perils.	

Special Property Coverages	
Coverage	Deductibles	Limit	
Earth Movement	$2,500	Included	
Flood	$2,500 *	Included	
Boiler & Machinery	$2,500	Included	
TRIA		Included	
*Except for Zones A & V see page 8 (Terms and Conditions) excess of NFIP, whether purchased or not

Extensions of Coverage
If marked with an "X" we will cover the following EXTENSIONS OF COVERAGE under this Agreement, These limits of liability do not increase any other applicable limit of liability.

(X)	Code	Extension of Coverage	Limit of Liability	
X	A	Accounts Receivable	$500,000 in any one occurrence	
X	B	Animals	$1,000 any one Animal
$5,000 Annual Aggregate in any one agreement period	
X	C	Buildings Under Construction	As declared on Property Schedule, except new buildings being erected
at sites other than a covered location which is limited to $250,000 estimated final contract value any one construction project.	
X	D	Debris Removal Expense	$250,000 per insured or 25% of loss, whichever is greater	

X	
E	Demolition Cost, Operation of Building
Laws and Increased Cost of
Construction	
$500,000 in any one occurrence	
X	F	Duty to Defend	$100,000 any one occurrence	
X	G	Errors and Omissions	$250,000 in any one occurrence	
X	H	Expediting Expenses	$250,000 in any one occurrence	
X	I	Fire Department Charges	$50,000 in any one occurrence	
X	J	Fungus Cleanup Expense	$50,000 in the annual aggregate in any one occurrence	
X	K	Lawns, Plants, Trees and Shrubs	$50,000 in any one occurrence	
X	L	Leasehold Interest	Included	
X	M	Air Conditioning Systems	Included	

X	
N	New locations of current Insureds	$1,000,000 in any one occurrence for up to 90 days, except 60 days for Dade, Broward, Palm Beach from the date such new location(s) is first purchased, rented or occupied whichever is earlier. Monroe County on
prior submit basis only	
X	O	Personal property of Employees	$500,000 in any one occurrence	
X	P	Pollution Cleanup Expense	$50,000 in any one occurrence	
X	Q	Professional Fees	$50,000 in any one occurrence	
X	R	Recertification of Equipment	Included	
X	S	Service Interruption Coverage	$500,000 in any one occurrence	
X	T	Transit	$1,000,000 in any one occurrence	
X	U	Vehicles as Scheduled Property	Included	
X	V	Preservation of Property	$250,000 in any one occurrence	
X	W	Property at Miscellaneous Unnamed Locations	$250,000 in any one occurrence	
X	X	Piers, docs and wharves as Scheduled Property	Included on a prior submit basis only	

X	Y	Glass and Sanitary Fittings Extension	$25,000 any one occurrence	
X	Z	Ingress / Egress	45 Consecutive Days	
X	AA	Lock and Key Replacement	$2,500 any one occurrence	
X	BB	Awnings, Gutters and Downspouts	Included	
X	CC	Civil or Military Authority	45 Consecutive days and one mile	

CRIME COVERAGE			
Description	Limit	Deductible	
Forgery and Alteration	$100,000	$1,000	
Theft, Disappearance or Destruction	$100,000	$1,000	
Computer Fraud including Funds Transfer Fraud	$100,000	$1,000	
Employee Dishonesty, including faithful performance, per loss	$100,000	$1,000	
Deadly Weapon Protection Coverage			

Coverage	Limit	Deductible	
Third Party Liability	$1,000,000	$0	
Property Damage	$1,000,000	$0	
Crisis Management Services	$250,000	$0	

AUTOMOBILE COVERAGE

Coverages	Covered
Autos	Limit	Premium	
Covered Autos Liability	8,9	$1,000,000	Included	
Personal Injury Protection	N/A		Not Included	
Auto Medical Payments	N/A		Not Included	
Uninsured Motorists including Underinsured
Motorists	N/A		Not Included	
Physical Damage Comprehensive Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto, But No Deductible Applies To Loss Caused By Fire or Lightning.

See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Specified Causes of Loss Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto For Loss Caused By Mischief Or Vandalism
See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Collision Coverage	N/A	Actual Cash Value Or Cost Of Repair, Whichever Is Less, Minus Applicable Deductible (See Attached Schedule)
For Each Covered Auto
See item Four for Hired or Borrowed Autos.	Not Included	
Physical Damage Towing And Labor	N/A	$0 For Each Disablement Of A Private Passenger Auto	Not Included	

GENERAL LIABILITY COVERAGE (Occurrence Basis)
Bodily Injury and Property Damage Limit	$1,000,000
Personal Injury and Advertising Injury	Included
Products & Completed Operations Aggregate Limit	Included
Employee Benefits Liability Limit, per person	$1,000,000
Herbicide & Pesticide Aggregate Limit	$1,000,000
Medical Payments Limit	$5,000
Fire Damage Limit	Included
No fault Sewer Backup Limit	$25,000/$250,000
General Liability Deductible	$0

PUBLIC OFFICIALS AND EMPLOYMENT PRACTICES LIABILITY (Claims Made)

Public Officials and Employment Practices Liability Limit	Per Claim	$1,000,000	
	Aggregate	$2,000,000	
Public Officials and Employment Practices Liability Deductible		$0	
Supplemental Payments: Pre-termination $2,500 per employee - $5,000 annual aggregate. Non-Monetary $100,000 aggregate.
Cyber Liability sublimit included under POL/EPLI Media Content Services Liability
Network Security Liability
Privacy Liability
First Party Extortion Threat First Party Crisis Management
First Party Business Interruption
Limit: $100,000 each claim/annual aggregate Fraudulent Instruction: $25,000

PREMIUM SUMMARY

Pier Park Community Development District c/o Rizzetta & Company
3434 Colwell Ave, Suite 200
Tampa, FL 33614

Term: October 1, 2025 to October 1, 2026
Policy Number: 100125637

PREMIUM BREAKDOWN	
Property (Building & Contents)	$9,590	
Inland Marine	Not Included	
Crime	$500	
Automobile Liability	Not Included	
Hired Non-Owned Auto	Included	
Auto Physical Damage	Not Included	
General Liability	$8,934	
Public Officials and Employment Practices Liability	$3,922	
Deadly Weapon Protection Coverage	Included	
TOTAL PREMIUM DUE	$22,946	

IMPORTANT NOTE
Defense Cost - Outside of Limit, Does Not Erode the Limit for General Liability, Public Officials Liability, and Employment related Practices Liability.
Deductible does not apply to defense cost. Self-Insured Retention does apply to defense cost.

Additional Notes: (None)

Coverage Confirmation Terms & Conditions
Please review the coverage confirmation carefully for coverage terms, conditions, and limits.
The coverage is subject to 25% minimum earned premium as of the first day of the “Coverage Period”.
Total premium is late if not paid in full within 30 days of inception, unless otherwise stated.
Property designated as being within Flood Zone A or V (and any prefixes or suffixes thereof) by the Federal Emergency Management Agency (FEMA), or within a 100 Year Flood Plain as designated by the United States Army Corps of Engineers, will have a Special Flood Deductible equal to all flood insurance available for such property under the National Flood Insurance Program, whether purchased or not or 5% of the Total Insured Value at each affected location whichever the greater.
The Florida Insurance Alliance is a shared limit. The limits purchased are a per occurrence limit and in the event an occurrence exhaust the limit purchased by the Alliance on behalf of the members, payment to you for a covered loss will be reduced pro-rata based on the amounts of covered loss by all members affected by the occurrence. Property designated as being within.

Schedule Items Effective As of: 10/01/2025
Property Schedule
Pier Park Community Development District

Policy No.:	100125637
Agent:	Egis Insurance Advisors LLC (Boca Raton, FL)

Unit #	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	Roof Pitch		Roof Covering	Covering Replaced	Roof Yr Blt	

1	Entry Features
US Highway 98 & Pier Park Dr Panama City Beach FL 32413	2012	10/01/2025	$84,460	
$84,460	
		
Joisted masonry	10/01/2026			
							
Unit #	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	Roof Pitch		Roof Covering	Covering Replaced	Roof Yr Blt	

2	Front Beach Rd Entry Feature
Pier Park Drive
Panama City Beach FL 32413	2010	10/01/2025	$92,906	
$92,906	
		
Fire resistive	10/01/2026			
							
Unit #	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	Roof Pitch		Roof Covering	Covering Replaced	Roof Yr Blt	

3	198 Street Light Poles
198 Street
Panama City Beach FL 32413	2010	10/01/2025	$689,827	
$689,827	
		Electrical equipment	10/01/2026			
							
Unit #	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	Roof Pitch		Roof Covering	Covering Replaced	Roof Yr Blt	

4	Traffic Pedestrian Signals @ Back Beach Rod
Pier Park Drive
Panama City Beach FL 32413	2010	10/01/2025	$319,364	
$319,364	
		
Non combustible	10/01/2026			
							
Unit #	Description Address	Year Built	Eff. Date	Building Value	Total Insured Value	
		Const Type	Term Date	Contents Value		
	Roof Shape	Roof Pitch		Roof Covering	Covering Replaced	Roof Yr Blt	

5	Traffic Pedestrian Signals @ Front Beach Rod
Pier Park Drive
Panama City Beach FL 32413	2010	10/01/2025	$203,232	
$203,232	
		
Non combustible	10/01/2026			
							
	Total:	Building Value
$1,389,789	Contents Value
$0	Insured Value
$1,389,789	

Tab 5

RESOLUTION 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF PIER PARK COMMUNITY DEVELOPMENT DISTRICT ADOPTING AN AMENDED GENERAL FUND BUDGET FOR FISCAL YEAR 2024/2025, PROVIDING FOR APPROPRIATIONS; ADDRESSING CONFLICTS AND SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, on July 30, 2024, the Board of Supervisors (“Board”) of Pier Park Community Development District (“District”), adopted Resolution 2024-05 providing for the adoption of the District’s Fiscal Year 2024/2025 annual budget (“Budget”); and
WHEREAS, the District Manager, at the direction of the Board, has prepared an amended Budget, to reflect changes in the actual and anticipated appropriations of the Budget; and
WHEREAS, Chapters 189 and 190, Florida Statutes, and Section 3 of Resolution 2024-05 authorizes the Board to amend the Budget at any time within Fiscal Year 2024/2025 or within sixty (60) days following the end of the Fiscal Year 2024/2025; and
WHEREAS, the Board finds that it is in the best interest of the District and its landowners to amend the Budget to reflect the actual appropriations; and

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF PIER PARK COMMUNITY DEVELOPMENT DISTRICT:
BUDGET AMENDMENT.

The Board has reviewed the District Manager’s proposed amended Budget, copies of which are on file with the office of the District Manager and at the District’s Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.
The amended Budget attached hereto as Exhibit A and incorporated herein by reference as further amended by the Board is hereby adopted in accordance with the provisions of sections 190.008(2)(a) and 189.016(6), Florida Statutes; provided, however, that the comparative figures contained in the amended Budget as adopted by the Board (together, “Adopted Annual Budget”) may be further revised as deemed necessary by the District Manager to further reflect actual revenues and expenditures for Fiscal Year 2024/2025.

The Adopted Annual Budget shall be maintained in the office of the District Manager and the District Records Office and identified as “The Adopted Budget

for Pier Park Community Development District for the fiscal year ending September 30, 2025, as amended and adopted by the Board of Supervisors.”
APPROPRIATIONS. There is hereby appropriated out of the revenues of the District, the fiscal year beginning October 1, 2024, and ending September 30, 2025, the sums set forth below, to be raised by special assessments, which sums are deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	$	
TOTAL ALL FUNDS	$	

CONFLICTS. This Resolution is intended to amend, in part, Resolution 2024-05, which remains in full force and effect except as otherwise provided herein. All terms of Resolution 2024-05 that are not amended by this Resolution apply to the Adopted Annual Budget as if those terms were fully set forth herein. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.
SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 17th day of November 2025.

ATTEST:	PIER PARK COMMUNITY DEVELOPMENT DISTRICT

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

Exhibit A
Amended Fiscal Year 2024/2025 Budget