Villages of Westport Community Development District
ANNUAL FINANCIAL REPORT

September 30, 2024

Villages of Westport Community Development District ANNUAL FINANCIAL REPORT
September 30, 2024 TABLE OF CONTENTS
Page Number
FINANCIAL SECTION
REPORT OF INDEPENDENT AUDITORS	1-3
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-8
BASIC FINANCIAL STATEMENTS:
Government-wide Financial Statements:
Statement of Net Position	9
Statement of Activities	10
Fund Financial Statements:
Balance Sheet – Governmental Funds	11
Reconciliation of Total Governmental Fund Balances
to Net Position of Governmental Activities	12
Statement of Revenues, Expenditures and Changes in Fund
Balances – Governmental Funds	13
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds
to the Statement of Activities	14
Statement of Revenues, Expenditures and Changes in Fund
Balances – Budget and Actual – General Fund	15
Notes to Financial Statements	16-29
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	30-31
MANAGEMENT LETTER	32-34
INDEPENDENT ACCOUNTANTS’ REPORT/COMPLIANCE WITH
SECTION 218.415 FLORIDA STATUTES	35

REPORT OF INDEPENDENT AUDITORS

To the Board of Supervisors
Villages of Westport Community Development District Duval County, Florida

Report on Audit of the Financial Statements
Opinion

We have audited the financial statements of the governmental activities and each major fund of Villages of Westport 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 Villages of Westport Community Development District as of September 30, 2024, and the respective changes in financial position and the budgetary comparison for the General Fund 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
Villages of Westport 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 judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining on a test basis, evidence regarding the amounts, and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

- 2 -

To the Board of Supervisors
Villages of Westport 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 August 4, 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 Villages of Westport Community Development District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida August 4, 2025

- 3 -

Management’s discussion and analysis of Villages of Westport 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.
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, transportation 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.

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 Fund. 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 long-term debt, 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 assets exceeded liabilities by $25,205 (net position). Net investment in capital assets was $(616,626), restricted net position was $628,849 and unrestricted net position was $12,982.

Governmental activities revenues totaled $1,398,346, while governmental activities expenses totaled $947,978.

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	
$	32,838	
$	29,774	
Restricted assets	1,230,348	1,488,516	
Capital assets		5,401,474 		5,116,333 	
Total Assets		6,664,660 		6,634,623 	

Current liabilities	
609,455	
594,786	
Non-current liabilities		6,030,000 		6,465,000 	
Total Liabilities		6,639,455 		7,059,786 	

Net Position
Net investment in capital assets	

(616,626)	

(1,283,426)	
Restricted net position	628,849	856,770	
Unrestricted		12,982 		1,493 	

Total Net Position

 $	25,205 

 $	(425,163)

	

The decrease in restricted assets and increase in capital assets is mainly related to capital activity in the current year.
The decrease in non-current liabilities is related to the principal payment made in the current year.

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		2024			2023		
Charges for services	$	1,318,135	$	1,086,668	
General Revenues Miscellaneous revenues	
280	
810	
Investment income		79,931 		68,194 	
Total Revenues		1,398,346 		1,155,672 	

Expenses
General government	

94,902	

106,437	
Physical environment	170,032	201,762	
Culture/recreation	255,383	302,144	
Transportation	45,523	45,523	
Interest and other charges		382,138 		404,842 	
Total Expenses		947,978 		1,060,708 	
Change in Net Position	450,368	94,964	
Net Position - Beginning of Year		(425,163)		(520,127)	
Net Position - End of Year	 $	25,205 	 $	(425,163)	

The increase in charges for services is primarily related to the special assessment prepayments received in the current year.
The decrease in physical environment is due to storm drainage repairs in the prior year.

The decrease in culture/recreation is mainly due to the decrease in security patrol expenses in the current year.

The decrease in interest and other charges is related to the reduction in bonds outstanding.

Capital Assets Activity

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

	Governmental Activities	
	Description			2024			2023		

Land and improvements	
$	2,020,928	
$	2,020,928	
Buildings and improvements	2,823,789	2,823,789	
Infrastructure	2,670,204	2,144,996	
Accumulated depreciation		(2,113,447)		(1,873,380)	
Total Capital Assets, Net	 $	5,401,474 	 $	5,116,333 	
During the year, capital activity consisted of additions to infrastructure, $525,208, and depreciation was $240,067.
General Fund Budgetary Highlights
Budgeted expenditures exceeded actual expenditures due to less amenity security patrolling expenditures than originally anticipated.
The September 30, 2024 budget was not amended.
Debt Management

Governmental Activities debt includes the following:

In February 2005, the District issued $16,950,000 Series 2005A Capital Improvement Revenue Bonds. These bonds were issued to finance a portion of the cost of acquisition and construction of the 2005A Project. As of September 30, 2024, the balance outstanding was $6,465,000.
Economic Factors and Next Year’s Budget

Villages of Westport Community Development District does not expect any economic factors to have any significant effect on the financial position or results of operations of the District in fiscal year 2025.
Request for Information
The financial report is designed to provide a general overview of Villages of Westport 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 the Villages of Westport Community Development District, C/O Governmental Management Services - NF, 475 West Town Place, Suite 114, St. Augustine, Florida 32092.

September 30, 2024

Assets	
Current Assets	
Cash	
Investments	
Prepaid expenses	
Total Current Assets	
Non-current Assets	
Restricted	
Investments	
Capital assets, not being depreciated	
Land and improvements	
Capital assets, being depreciated	
Buildings and improvements	
Infrastructure	
Accumulated depreciation	
Total Non-current Assets	
Total Assets	

Governmental Activities

$	10,483	
5,639	
	16,716 	
	32,838 	

1,230,348

2,020,928

2,823,789	
2,670,204	
    (2,113,447)	
    6,631,822 	
    6,664,660 	

20,911	
435,000	
     153,544 	
     609,455 	

Liabilities	
Current Liabilities	
Accounts payable and accrued expenses	
Bonds payable	
Accrued interest	
Total Current Liabilities	
Non-current Liabilities	
Bonds payable	
Total Liabilities	

	6,030,000 
	6,639,455 

Net Position	
Net investment in capital assets	
Restricted for debt service	
Restricted for capital project	
Unrestricted net position	
Total Net Position	

(616,626)	
553,904	
74,945	
	12,982 	
 $	25,205 	

Net (Expenses)	
Revenues and	
Changes in	
	Net Position		
Governmental
Activities	

For the Year Ended September 30, 2024

Program	
	Revenues		
Charges for
Services	

Functions/Programs	
Governmental Activities	
General government	
Physical environment	
Culture/recreation	
Transportation	
Interest and other charges	
Total Governmental Activies	

Expenses

$	(94,902)	
(170,032)	
(255,383)	
(45,523)	
	(382,138)	
 $	(947,978)	

$	98,072	
120,575	
118,009	
-	
	981,479 	
 $	1,318,135 	

$	3,170	
(49,457)	
(137,374)	
(45,523)	
	599,341 	
370,157	

General Revenues	
Miscellaneous revenues	
Investment income	
Total General Revenues	

280
	79,931 
	80,211 

Changes in Net Position	450,368	
Net Position - October 1, 2023		(425,163)	
Net Position - September 30, 2024	 $	25,205 	

Villages of Westport Community Development District BALANCE SHEET –
GOVERNMENTAL FUNDS
September 30, 2024

Total	
Governmental	
Funds	

Debt	
Service	

Capital	
Projects	

Assets	
Cash and cash equivalents	
Investments	
Due from other funds	
Prepaid expenses	
Restricted Assets	
Investments	
Total Assets	

$	10,483	
5,639	
7,446	
16,716	

$	-	
-	
6,391	
-	

$	-	
-	
-	
-	

$	10,483	
5,639	
13,837	
16,716	

	- 	
 $	40,284 	

1,147,957	
 $  1,154,348 	

82,391		1,230,348	
 $	82,391 		$	1,277,023	

General

Liabilities and Fund Balances	
Liabilities	
Accounts payable and accrued expenses	
Due to other funds	
Total Liabilities	

$	20,911	$	-	$	-	
	6,391 		- 		7,446 	
	27,302 		- 		7,446 	

$	20,911	
13,837	
34,748	

Fund Balances	
Nonspendable	
Prepaid expenses	
Restricted	
Debt service	
Capital projects	
Unassigned	
Total Fund Balances	

16,716	-	-	16,716

-	
-	
     (3,734)	
     12,982 	

1,154,348	
-	
        - 	
   1,154,348 	

-	
74,945	
       - 	
    74,945 	

1,154,348	
74,945	
(3,734)	
1,242,275	

Total Liabilities and Fund Balances

 $	40,284 

 $  1,154,348 

 $	82,391 	$

1,277,023

See accompanying notes to financial statements.

- 11 -

Villages of Westport Community Development District RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2024

Total Governmental Fund Balances

Amounts reported for governmental activities in the Statement of Net Position	
are different because:	

Capital assets, land and improvements, $2,020,928, buildings and improvements,	
$2,823,789, and infrastructure, $2,670,204, net of accumulated depreciation,	
$(2,113,447), used in governmental activities are not current financial resources,	
and therefore, are not reported at the fund level.	

Long-term liabilities, including bonds payable, are not due and payable in the current	
period and therefore, are not reported at the fund level.	

Accrued interest for long-term debt is not a current financial use and therefore,	
is not reported at the fund level.	

$	1,242,275

5,401,474

(6,465,000)

(153,544)

Net Position of Governmental Activities	$	25,205

See accompanying notes to financial statements.

- 12 -

Villages of Westport Community Development District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
For the Year Ended September 30, 2024

Total	
Governmental	
Funds	

Debt	
Service	

Capital	
Projects	

Revenues	
Special assessments	
Miscellaneous revenues	
Investment income	
Total Revenues	

$	336,656	
280	
	326 	
	337,262 	

$	981,479	
-	
	53,970 	
1,035,449	

$	-	
-	
	25,635 	
25,635	

$	1,318,135	
280	
	79,931 	
1,398,346	

94,902	
116,677	
114,194	
-	

-	
-	
-	
-	

-	
-	
-	
525,208	

94,902	
116,677	
114,194	
525,208	

General

Expenditures	
Current	
General government	
Physical environment	
Culture/recreation	
Capital outlay	
Debt Service	
Principal	
Interest	
Total Expenditures	

-	
-	
	325,773 	

410,000	
391,875	
	801,875 	

-	
-	
	525,208 	

410,000	
391,875	
	1,652,856 	

Excess of revenues over/(under)	
expenditures	

	11,489 	233,574	(499,573)	(254,510)

Other Financing Sources/(Uses)	
Transfers in	
Transfers out	
Total Other Financing Sources/(Uses)	

51,318	
(33,846)	
17,472	

33,846	
(51,318)	
(17,472)	

85,164	
(85,164)	
-	

-
	- 
	- 

Net Change in Fund Balances	11,489	251,046		(517,045)		(254,510)	
Fund Balances - October 1, 2023		1,493 	903,302		591,990		1,496,785	

Fund Balances - September 30, 2024	
 $	12,982 	
$  1,154,348		
$	74,945		
$	1,242,275	

See accompanying notes to financial statements.

- 13 -

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

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 capital outlay	
$525,208, in excess of depreciation, $(240,067), the current period.	

The payment of bond principal is recognized as an expenditure at the fund level,	
however, the payment reduces liabilities at the government-wide level.	

In the Statement of Activities, interest is accrued on outstanding bonds; whereas	
at the governmental fund level, interest expenditures are reported when due.	
This is the net amount between the prior year and current year accruals.	

$	(254,510)

285,141

410,000

9,737

Change in Net Position of Governmental Activities	$	450,368

See accompanying notes to financial statements.

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

Revenues	
Special assessments	
Miscellaneous revenues	
Investment income	
Total Revenues	

$	333,555	
-	
	- 	
	333,555 	

$	333,555	
-	
	- 	
	333,555 	

Expenditures	
Current	
General government	
Physical environment	
Culture/recreation	
Total Expenditures	

76,578	
107,400	
    149,577 	
    333,555 	

76,578	
107,400	
    149,577 	
    333,555 	

94,902	
116,677	
   114,194 	
   325,773 	

(18,324)	
(9,277)	
     35,383 	
      7,782 	

Variance with	
Final Budget	
Positive	
(Negative)	

Original	Final	
Budget	Budget	

$	336,656	
280	
	326 	
	337,262 	

$	3,101	
280	
	326 	
	3,707 	

Actual

	-  	-  	1,493  	1,493 	
 $	-   $	-   $	12,982   $	12,982 	

Net Change in Fund Balances	-	-	11,489	11,489 Fund Balances - October 1, 2023
Fund Balances - September 30, 2024

See accompanying notes to financial statements.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 June 14, 2004, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and Rules 42QQ-1.001, et seq., Florida Administrative Code, adopted by the Florida Land & Water Adjudicatory Commission (“FLWAC”) as a Community Development District. FLWAC Amended rule 42QQ-1.002 amended the boundaries of the District effective July 13, 2021, contracting 1058.56 acres and adding 3.63 acres. 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 Villages of Westport Community Development District. The District is governed by a five member Board of Supervisors, elected on an at large basis by qualified electors within the District. The District operates within the criteria established by Chapter 190, Florida Statutes.
As required by GAAP, these financial statements present the Villages of Westport 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 in Governmental Accounting Standards Board, The Financial Reporting Entity, 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

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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 primarily supported by special assessments 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.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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.

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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)
Debt Service Fund – Accounts for debt service requirements to retire the capital improvement bonds which were used to finance the construction of District infrastructure improvements.

Capital Projects Fund – Accounts for financial resources to be used in the acquisition and construction of infrastructure improvements within the boundaries of the District.
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 long-term debt, 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.
Budgets
Budgets are prepared and adopted after a public hearing 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. A formal budget is adopted for the general fund. As a result, deficits in the budget columns of the accompanying financial statements may occur.
Capital Assets
Capital assets, which include land and improvements, buildings and improvements, 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	20-25 years
Building and improvements	20 years

NOTE	B	–		RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position
“Total fund balances” of the District’s governmental funds, $1,242,275, differs from “Net Position” of governmental activities, $25,205, reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position versus the current financial resources focus of the governmental fund balance sheet. The effect of the differences is illustrated below.

Capital related items
When capital assets are purchased or constructed, the cost of those assets is reported as expenditures at the governmental fund level. However, the Statement of Net Position included those capital assets among the assets of the District as a whole.

Land and improvements	$	2,020,928	
Buildings and improvements	2,823,789	
Infrastructure	2,670,204	
Accumulated depreciation		(2,113,447)	
Total	$	5,401,474 	
Long-term debt transactions

Governmental Activities long-term liabilities are not due and payable in the current period and therefore, are not reported as fund level liabilities. All liabilities (both current and long-term) are reported in the Statement of Net Position. Balances at September 30, 2024 were:
Bonds payable	$	(6,465,000)

Accrued liabilities in the Statement of Net Position differ from the amount reported at the governmental fund level due to the accrued interest on bonds.
Accrued interest	$	(153,544)

NOTE	B	–	RECONCILIATION	OF	GOVERNMENT-WIDE	AND	FUND	FINANCIAL STATEMENTS (CONTINUED)
Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities
The “net change in fund balances” for government funds, $(254,510), differs from the “change in net position” for governmental activities, $450,368, reported in the Statement of Activities. The differences arise primarily from the long-term economic focus of the Statement of Activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated as follows.

Capital related items
When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures at the governmental fund level. However, in the Statement of Activities, the costs of those assets are capitalized and the cost is allocated over their estimated useful lives as depreciation.

Depreciation	$	(240,067)	
Capital outlay		525,208	
Total	$	285,141	
Long-term debt transactions

Payments made on long-term debt are recognized as expenditures at the fund level and decrease long-term debt at the government-wide level.
Principal payments	$	410,000

Accrued interest
Interest is reported at the fund level when paid, however, at the government-wide level interest is reported as incurred. This is the change in accrued interest in the current year.
Accrued interest	$	9,737

NOTE C – CASH AND INVESTMENTS
All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments. The District did not have investment balances.
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 $13,104 and the carrying value was $10,483. 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:

Description		Maturities		Fair Value	
Florida PRIME		39 days*		$	204,888	
U S Bank Money Market		N/A		1,031,099	
Total Investments				$	1,235,987	
*Weighted Average Maturity
The District categorizes its fair value measurements within the fair value hierarchy recently 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 reliable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtaining 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 use 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 in U S Bank Money Market is a level 1 investment.

NOTE C – CASH AND INVESTMENTS (CONTINUED)
Investments (Continued)
The District’s investment policy allows management to invest funds in investments permitted under Section 218.415, Florida Statutes. The investment in Florida PRIME is measured at amortized cost. Florida PRIME has established policies and guidelines regarding participant transactions and the authority to limit or restrict withdrawals or impose a penalty for an early withdrawal. As of September 30, 2024, there were no redemption fees, maximum transaction amounts, or any other requirement that would limit daily access to 100 percent of the account value.
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 investment in Florida PRIME was rated AAAm by Standard & Poor's. The investment in U S Bank Money Market is not rated 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 Florida PRIME is 17% of the District’s total investments. The investments in U S Bank Money Market are 83% 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 D – CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2024 was as follows:

	Balance
October 1,						Balance
September 30,	
	2023		Additions		Deletions		2024	
Governmental activities:								
Capital assets								
Land and improvements	$	2,020,928		$	-		$	-		$	2,020,928	
Buildings and improvements	2,823,789		-		-		2,823,789	
Infrastucture	2,144,996		525,208		-		2,670,204	
Accumulated depreciation		(1,873,380)			(240,067)			- 			(2,113,447)	
Total Capital Assets, Net	 $	5,116,333 		 $	285,141 		 $	- 		 $	5,401,474 	
Depreciation was charged to physical environment, $55,355, transportation, $45,523, and culture/recreation, $141,189.
NOTE E – SPECIAL ASSESSMENT REVENUES

Assessments are non-ad valorem assessments imposed on assessable lands located within the District. Assessments may be levied on property to pay for the operation and maintenance of the District, as well as to pay for debt service on the District's Bonds. The fiscal year for which annual assessments may be levied begins October 1 with discounts available for payments through February 28 and become delinquent on April 1. For debt service assessments, amounts collected as advance payments are used to prepay a portion of the Bonds outstanding. Otherwise, assessments are collected annually to provide funds for the debt service on the portion of the Bonds which are not paid with prepaid assessments.
Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

NOTE F – LONG-TERM DEBT
The following is a summary of debt activity for the District for the period ended September 30, 2024:

Bonds payable at October 1, 2023	$	6,875,000	
Principal payments		(410,000)	
Bonds payable at September 30, 2024	$	6,465,000 	
District debt is comprised of the following at September 30, 2024:		
Capital Improvement Revenue Bonds		
$16,950,000 Series 2005A Capital Improvement Revenue Bonds maturing on May 1, 2035, at an interest rate of 5.7%,
payable May 1 and November 1. Current portion is $435,000.	

$	6,465,000 	

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	$	435,000	$	368,505	$	803,505	
2026	460,000	343,710	803,710	
2027	490,000	317,490	807,490	
2028	515,000	289,560	804,560	
2029	545,000	260,205	805,205	
2030-2034	3,250,000	796,005	4,046,005	
2035		770,000 		43,890 		813,890 	
Totals	 $	6,465,000 	 $	2,419,365 	 $	8,884,365 	

The Series 2005A Bonds are subject to redemption at the option of the District prior to their maturity, in whole or in part, at any time after May 1, 2013, at a price equal to the par amount of the Series 2005A Bonds thereof, together with accrued interest to the date of redemption. The Series 2005A Bonds are subject to mandatory redemption prior to maturity in the manner outlined in the Trust Indenture.
The Trust Indenture established certain amounts be maintained in a reserve account. In addition, the Trust Indenture has certain restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements.

NOTE F – LONG-TERM DEBT (CONTINUED)
Summary of Significant Bonds Resolution Terms and Covenants Depository Funds
The bond resolution establishes certain funds and determines the order in which revenues are to be deposited into these funds. A description of the significant funds, including their purposes, is as follows:
Reserve Funds – The Series 2005A Reserve Account was funded from the proceeds of the Series 2005A Bonds in an amount equal to the maximum annual debt service required for Series 2005A Bonds at the date of issue until the Reserve Account Release Conditions have been satisfied as established in the Trust Indenture. Once the Release Conditions have been satisfied as established in the Trust Indenture the Reserve Account shall be reduced to an amount equal to the 2005A Reserve Account Percentage (6.9126%) times the deemed outstanding principal amount of the Series 2005A Bonds, as of the time of any such calculation. Monies held in the reserve accounts will be used only for the purposes established in the Trust Indenture.
The following is a schedule of required reserve balances as of September 30, 2024:
Reserve	Reserve
	Balance	  Requirement 

Capital Improvement Revenue Bonds, Series 2005A
NOTE G – RISK MANAGEMENT

$	446,900

$	446,900

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. The District has not filed any claims under this commercial coverage in the last three years.
NOTE H – ECONOMIC DEPENDENCY
The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer. The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

NOTE I – INTERFUND ACTIVITY
Interfund balances as of September 30, 2024, consisted of the following:

Payable Funds
Receivable Funds		General Fund		Capital Projects	Fund		Total	
General Fund		$	-		$	7,446		$	7,446	
Debt Service Fund		6,391			-		6,391	
Total		$	6,391		$	7,446		$	13,837	

Interfund balances are the result of the General Fund collecting monies on behalf of the Debt Service Fund, and covering expenditures on behalf of the Capital Projects Fund, that were not remitted or repaid as of year-end.
Interfund transfers for the year ended September 30, 2024, consisted of the following:

Transfers Out
Transfers In		Debt Service Fund		Capital	Projects Fund		Total	
Debt Service Fund		$	-		$	51,318		$	51,318	
Capital Projects Fund		33,846			-		33,846	
Total		$	33,846		$	51,318		$	85,164	

Transfers between the Capital Projects Fund and the Debt Service Fund were made in accordance with the Trust Indenture.

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
Villages of Westport Community Development District Duval County, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements, as listed in the table of contents, of Villages of Westport 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 August 4, 2025.

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

- 30 -

To the Board of Supervisors
Villages of Westport Community Development District

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Villages of Westport 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 August 4, 2025

- 31 -

MANAGEMENT LETTER

To the Board of Supervisors
Villages of Westport Community Development District Duval County, Florida
Report on the Financial Statements
We have audited the financial statements of the Villages of Westport Community Development District as of and for the year ended September 30, 2024, and have issued our report thereon dated August 4, 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 August 4, 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 2023-01
Finding: The District is not in compliance with Section 189.016, Florida Statues, due to the General Fund budget being over expended.
Management Response: Expenditures will be monitored in future years to ensure budget compliance.

- 32 -

To the Board of Supervisors
Villages of Westport Community Development District Finding 2023-01 (Continued)
Current Status: The finding was corrected in the current fiscal year.
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 Villages of Westport 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 Villages of Westport 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 Villages of Westport Community Development District. It is management’s responsibility to monitor the Villages of Westport 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, Villages of Westport 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: 9
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency: $4,800
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $309,626.94
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.

- 33 -

To the Board of Supervisors
Villages of Westport 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 Villages of Westport Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District:
$434.88 – $470.14 for the General Fund and $577.00 – $1,154.00 for the Debt Service Fund.
The amount of special assessments collected by or on behalf of the District: Total special assessments collected was $1,318,135.
The total amount of outstanding bonds issued by the District and the terms of such bonds are as follows: $6,465,000 Series 2005A Bonds due on May 1, 2035 at a fixed interest rate of 5.7%.

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 August 4, 2025

- 34 -

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

To the Board of Supervisors
Villages of Westport Community Development District Duval County, Florida

We have examined Villages of Westport Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2024. Management is responsible for Villages of Westport Community Development District’s compliance with those requirements. Our responsibility is to express an opinion on Villages of Westport 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 Villages of Westport 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 Villages of Westport Community Development District’s compliance with the specified requirements.

In our opinion, Villages of Westport 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 August 4, 2025

- 35 -