22-3298 Accepting Annual Comprehensive Financial Report for FY Ending September 30, 2021

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THE REPORTING ENTITY AND ITS SERVICES The funds and entities related to the City of Casselberry that are included in the Annual Comprehensive Financial Report are controlled by or dependent on the City. Determination of "controlled by or dependent on" is based on criteria and disclosure requirements of Governmental Accounting Standards Board Statement (GASB) Number 61 The Financial Reporting Entity, as amended by GASB Number 80, Blending Requirements for Certain Component Units and GASB Number 84, Fiduciary Activities. The criteria deal with the selection of governing authority, designation of management, and ability to significantly influence operations and accountability for fiscal matters. Based on these criteria, the various funds shown in the Table of Contents are included in this report. This report, together with the accounting and budgeting systems, have been designed to conform to the standards set forth by the Governmental Accounting Standards Board and the American Institute of Certified Public Accountants. Fund structure has also been designed to comply with the legal requirements of the various revenue bond covenants and resolutions. MAJOR INITIATIVES During fiscal year 2021, several significant actions occurred within the City that will have lasting impacts going forward. • Advanced Metering Infrastructure Project (AMI) — The City of Casselberry operates a Water and Sewer Utility that extends well beyond the City limits and encompasses about fourteen square miles. During 2021, technology has been upgraded for over 21,000 meters to Advanced Metering Infrastructure (AMI). This allows meter data to be accessed digitally through a network. Billing is more efficient and customer service has near "real time" access to customer data, so alarms bring timely attention to anomalies and customer inquiries are efficiently answered. The project cost about $9,000,000. • Public Works Complex — The City of Casselberry is completely refurbishing the Public Works facility on Seventh Street. These facilities share space to house those divisions that generally do field work throughout Casselberry. They include maintenance teams that serve Parks, Streets, Lakes, Stormwater, Trees, Fleet, Water and Sewer Lift Stations, and Distribution and Collection. Also located there are the fuel depot and Inventory Control. This a multi-year project and during 2021 major site work was completed and the first "Operations" building began construction. This is a major renovation that may eventually exceed $15,000,000 in projected cost. • Park Improvement Initiative — Following years of community outreach and master planning, the City of Casselberry asked the voters if they would support major improvements to five parks and the construction of a new one. On March 17, 2020 a referendum was passed overwhelmingly. It was approved for the City of Casselberry to issue bonds to raise up to $24,000,000 for Park Improvements. Planning and Engineering began in 2020 for Secret Lake Park. The first bond was issued for $6,000,000 in 2021. During 2021, four of six parks were in design. Construction will begin in 2022. • Concord Drive Improvements — Concord Drive is a road on the southwest end of the City that runs between Anchor Road and US Hwy. 17-92. Planning and Engineering was completed in 2020 and construction was completed in 2021 to make complete street design changes with new sidewalks, raised curbs and gutters, landscaping, decorative streetlights and park -like amenities around newly created retention areas. Stormwater infrastructure was added, and existing utility infrastructure was improved. The total cost of this project was about $2,000,000. • Police Station Replacement — The City of Casselberry is preparing to replace its police station with a new one on Wilshire Blvd. Over 25 thousand square feet, the new police station will be constructed on a four -acre site that will eventually also be home for a new Seminole County Fire Station. The project is almost completely designed at the end of 2021. Construction will be awarded in 2022 at an estimated cost of $10,000,000. DEBT ISSUES In FY 2021, the City issued the following debt: On November 16, 2020 the City financed the purchase of a pickup truck, police vehicles, two utility vehicles, three golf course mowers and sand pro equipment through a capital lease agreement with Truist/BB&T in the amount of $733,864.20 over three to five years.