CrossCreek Community Development District
ANNUAL FINANCIAL REPORT
September 30, 2025

CrossCreek Community Development District ANNUAL FINANCIAL REPORT
September 30, 2025 TABLE OF CONTENTS

FINANCIAL SECTION

Page Number

REPORT OF INDEPENDENT AUDITORS	1-3	
MANAGEMENT’S DISCUSSION AND ANALYSIS	4-8	
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	

9
10

11

12

13

14

15	
Notes to Financial Statements	16-28	

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
CrossCreek Community Development District Manatee 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 CrossCreek Community Development District (the “District”), as of and for the year ended September 30, 2025, 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 referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, 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 audit 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 audit. 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 the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

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To the Board of Supervisors
CrossCreek 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 any currently known information that may raise substantial doubt shortly 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 opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore, is not a guarantee that an audit conducted in accordance with 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.

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis be presented to supplement the basic financial statements.

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To the Board of Supervisors
CrossCreek Community Development District

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 GAAS, 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 Information

Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with Florida Statutes 218.39(3)(c) but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued a report dated April 2, 2026 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 and grant agreements and other matters.

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 the District’s internal control over financial reporting and compliance.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida April 2, 2026
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Management’s discussion and analysis of CrossCreek 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, 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 special assessment 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, 2025.

The District’s assets exceeded liabilities by $5,494,122 (net position). Net investment in capital assets were $5,130,308, restricted net position was $286,028, and unrestricted net position was $77,786.

Governmental activities revenues totaled $607,761, while governmental activities expenses totaled $955,565.

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	
		2025			2024		
Current assets	$	120,117	$	106,925	
Restricted assets	298,485	287,378	
Capital assets		5,510,478 		5,913,230 	
Total Assets		5,929,080 		6,307,533 	
Current liabilities	74,958	80,607	
Non-current liabilities		360,000 		385,000 	
Total Liabilities		434,958 		465,607 	
Net Position	
Net investment in capital assets	5,130,308	5,508,405	
Restricted	286,028	274,089	
Unrestricted		77,786 		59,432 	
Total Net Position	 $	5,494,122 	 $	5,841,926 

The decrease in capital assets is related to current year depreciation.

The decrease in non-current liabilities is related to the principal payments 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		2025			2024		
Charges for services	$	586,468	$	586,650	
General Revenues	
Gain on sale of assets	-	11,608	
Miscellaneous revenues	-	19	
Investment income		21,293 		27,961 	
Total Revenues		607,761 		626,238 	
Expenses	
General government	69,693	82,895	
Physical environment	603,065	579,172	
Culture/recreation	260,431	245,566	
Interest and other charges		22,376 		23,777 	
Total Expenses		955,565 		931,410 	
Change in Net Position	(347,804)	(305,172)	
Net Position - Beginning of Year		5,841,926 		6,147,098 	
Net Position - End of Year	 $	5,494,122 	 $	5,841,926 	

The decrease in general government is related to reduced field management fees and janitorial services.

The increase in physical environment is primarily related to a major repair in the current year.

The increase in culture/recreation is primarily the result of the increase in pool maintenance expenditures in the current year.

Capital Assets Activity

The following schedule provides a summary of the District’s capital assets as of September 30, 2025 and 2024.
	Governmental Activities	
 Description			2025				2024		
Land	$	1,078,534		$	1,078,534	
Buildings and improvements	4,081,823		4,081,823	
Infrastructure	3,973,217		3,973,217	
Accumulated Depreciation		(3,623,096)			(3,220,344)	
Total Capital Assets, net	 $	5,510,478 		 $	5,913,230 	
During the year, depreciation was $402,752.				
General Fund Budgetary Highlights
Budgeted expenditures were more than actual expenditures primarily because there were fewer major repair and replacement expenditures and electric utility costs than were anticipated.
The September 30, 2025 budget was not amended.
Debt Management
In February 2007, the District issued $10,205,000 Series 2007A Special Assessment Revenue Bonds. These bonds were issued to finance a portion of the cost of the 2007 Project. As of September 30, 2025, the balance outstanding was $70,000.
In December 2016, the District issued $4,465,000 Series 2016A Special Assessment Revenue Bonds. These bonds were issued to restructure and exchange the defaulted Series 2007A and 2007B Bonds. As of September 30, 2025, the balance outstanding was $315,000.
Economic Factors and Next Year’s Budget
CrossCreek 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 2026.
Request for Information
The financial report is designed to provide a general overview of CrossCreek 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 CrossCreek Community Development District, PFM Group Consulting, LLC, 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817.

Governmental Activities
Assets			
Current Assets			
Cash	$	86,029	
Assessments receivable		5,208	
Accrued interest receivable		999	
Prepaid expenses		27,881 	
Total Current Assets		120,117 	
Non-current Assets		
Restricted Assets			
Investments		298,485	
Capital Assets, not being depreciated			
Land		1,078,534	
Capital Assets, being depreciated			
Buildings and improvements		4,081,823	
Infrastructure		3,973,217	
Accumulated depreciation		(3,623,096)	
Total Non-current Assets		5,808,963 	
Total Assets		5,929,080 	
Liabilities			
Current Liabilities			
Accounts payable and accrued expenses		40,975	
Bonds payable		25,000	
Accrued interest		8,983 	
Total Current Liabilities		74,958 	
Non-current Liabilities		
Bonds payable		360,000 	
Total Liabilities		434,958 	
Net Position			
Net investment in capital assets		5,130,308	
Restricted for debt service		286,028	
Unrestricted		77,786 	
Total Net Position	 $		5,494,122 	

	Net (Expenses)	
	Revenues and	
Program	Changes in Net	
	Revenues			Position		
Charges for	Governmental	
Functions/Programs	Expenses	Services	Activities	
Governmental Activities							
General government		$	(69,693)		$	70,897		$	1,204	
Physical environment		(603,065)		411,392		(191,673)	
Culture/recreation		(260,431)		57,314		(203,117)	
Interest and other charges			(22,376)			46,865 			24,489 	
Total Governmental Activities		 $	(955,565)		 $	586,468 		(369,097)	

General Revenues
Investment income	

	21,293 	
Changes in Net Position	(347,804)	
Net Position - October 1, 2024		5,841,926 	
Net Position - September 30, 2025	 $	5,494,122 	

Assets	

	General		
Debt
	Service		Total Governmental
	Funds		
Cash	$	86,029	$	-	$	86,029	
Assessments receivable	4,802	406	5,208	
Accrued interest receivable	49	950	999	
Prepaid expenses
Restricted Assets	27,881	-	27,881	
Investments		- 		298,485 		298,485 	
Total Assets	 $	118,761 	 $	299,841 	 $	418,602 	
Liabilities and Fund Balances Liabilities
Accounts payable and accrued expenses	 $	40,975 	 $	- 	 $	40,975 	
Fund Balances	
Nonspendable - prepaid expenses	27,881	-	27,881	
Restricted for debt service	-	299,841	299,841	
Unassigned		49,905 		- 		49,905 	
Total Fund Balances		77,786 		299,841 		377,627 	
Total Liabilities and Fund Balances	 $	118,761 	 $	299,841 	 $	418,602 	

Total Governmental Fund Balances	$	377,627	
Amounts reported for governmental activities in the Statement of Net Position are different because:			
Capital assets, land, $1,078,534, infrastructure, $3,973,217, and buildings and improvements, $4,081,823, net of accumulated depreciation, $(3,623,096), used in governmental activities are not current financial resources, and therefore, are
not reported at the fund level.		

5,510,478	
Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore, are not reported at the fund level.		
(385,000)	
Accrued interest for long-term debt is not a current financial use and therefore, is not reported at the fund level.		
     (8,983)	
Net Position of Governmental Activities	 $		5,494,122 	

		General		
Revenues		
Special assessments	$	539,603	
Investment income		9,188 	
Total Revenues		548,791 	

Debt
	Service		Total Governmental
	Funds		
$	46,865
     12,105 
     58,970 	$	586,468
      21,293 
      607,761 	
	
-
-
-		
69,693
404,404
56,340	
25,000
	22,960 
	47,960 	25,000
	22,960 
	578,397 	
	11,010		29,364	
	288,831 		348,263 	
$	299,841	$	377,627	

Expenditures Current
General government	69,693	
Physical environment	404,404	
Culture/recreation
Debt Service	56,340	
Principal	-	
Interest		- 	
Total Expenditures		530,437 	

Net Change in Fund Balances Fund Balances - October 1, 2024
Fund Balances - September 30, 2025

18,354

	59,432 

$	77,786

See accompanying notes to financial statements.

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, 2025

Net Change in Fund Balances - Total Governmental Funds	$	29,364	
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.		

(402,752)	
The repayment of long-term debt is recognized as an expenditure at the fund level, however, the repayment reduces liabilities at the government-wide level.		
25,000	
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.		

584	

Change in Net Position of Governmental Activities	
$	
(347,804)	

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, 2025

Revenues
Special assessments Investment income

Original Budget

$	534,245
	- 

Final Budget

	

Actual		Variance with Final Budget Positive
(Negative)	
	
$	539,603
9,188
	548,791 		
$	
5,358
9,188
     14,546 	

$	534,245
-

Total Revenues

Expenditures Current

	534,245  	534,245 

General government	73,175	73,175	69,693	3,482	
Physical environment	425,194	425,194	404,404	20,790	
Culture/recreation		56,200  	56,200 		56,340 		(140)	
Total Expenditures		554,569  	554,569 		530,437 		24,132 	

Net Change in Fund Balances	
(20,324)	
(20,324)	
18,354	
38,678	

Fund Balances - October 1, 2024	
	20,324  	20,324 	
	59,432 	
	39,108 	
Fund Balances - September 30, 2025	 $	-   $	- 	 $	77,786 	 $	77,786 	

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 January 24, 2006, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and by Ordinance 06-21 of the Board of County Commissioners of Manatee County, Florida, 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 CrossCreek Community Development District. The District is governed by a five member Board of Supervisors. The boundaries of the District were contracted by removing 112.738 acres in fiscal year 2022. The District operates within the criteria established by Chapter 190, Florida Statutes.
As required by GAAP, these financial statements present CrossCreek 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 in accordance with 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 – The Debt Service Fund accounts for debt service requirements to retire the special assessment bonds which were used to finance the construction of District infrastructure improvements.
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 special assessment 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.
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, 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. The estimated useful lives for infrastructure and buildings and improvements is 20 years.

Use of Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statement date and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

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, $377,627, differs from “Net Position” of governmental activities, $5,494,122, 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 (land, buildings and improvements and infrastructure that are to be used in governmental activities) 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	$	1,078,534	
Infrastructure	3,973,217	
Buildings and improvements	4,081,823	
Accumulated depreciation		(3,623,096)	
Total	$	5,510,478 	

Long-term debt transactions

Governmental Activities long-term liabilities are not due and payable in the current period and are not reported as fund liabilities. All liabilities (both current and long-term) are reported in the Statement of Net Position. Balances at September 30, 2025 were:
Bonds payable	$	(385,000)

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	$	(8,983)

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, $29,364, differs from the “change in net position” for governmental activities, $(347,804), 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. This is the current year depreciation.
Depreciation	$	(402,752)

Long-term debt transactions
The repayment of long-term debt is recognized as an expenditure at the fund level, However, the repayment reduces liabilities at the government-wide level.

Principal payments	$	25,000 

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	$	584

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.
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, 2025, the District's bank balance and carrying value were
$86,029. 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, 2025, the District had the following investments and maturities:

Investments	Maturities	Fair Value
Managed Money Market Funds		N/A		$	40,529	
First American Government Obligations Fund		45 days*			257,956	
Total				 $		298,485 	
*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 investments in First American Government Obligations Fund are Level 1 assets.

NOTE C – CASH AND INVESTMENTS (CONTINUED)

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, 2025, the District's investment in First American Government Obligations Fund was rated AAAm by Standard & Poor's. The District’s investments in Managed Money Market Funds were not rated.
Concentration of Credit Risk

The District places no limit on the amount it may invest in any one fund. The investments in First American Government Obligations Fund are 86% and the Managed Money Market Funds is 14% of the District’s total investments.

The types of deposits and investments and their level of risk exposure as of September 30, 2025 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, 2025, was as follows:

			Balance									Balance	
		October 1,							September 30,	
			    2024				Additions			Deletions				2025		
Governmental activities:							
Capital assets													
Land		$	1,078,534	$		-	$	-		$	1,078,534	
Buildings and improvements			4,081,823			-		-			4,081,823	
Infrastructure			3,973,217			-		-			3,973,217	
Accumulated depreciation			(3,220,344)		(402,752)		- 			(3,623,096)	
Total Capital Assets, net		 $		5,913,230 	 $		(402,752)	 $	-   $	5,510,478 	
Depreciation	of	$402,752 culture/recreation, $204,091.	was	charged	to	physical	enviro	nment,	$198,661,	and	

NOTE E – LONG-TERM DEBT
The following is a summary of activity for long-term debt of the Governmental Activities for the period ended September 30, 2025:

Long-term debt at October 1, 2024	$	410,000	
Principal payments		(25,000)	
Long-term debt at September 30, 2025	$	385,000 	
Long-term debt for Governmental Activities is comprised of the following:		
Special Assessment Revenue Bonds		
$10,205,000 Series 2007A Special Assessment Revenue Bonds are due in annual principal installments beginning May 2009 and maturing May 2039. Fixed interest rate of 5.6% is due each May 1 and November 1 beginning May 2007. Current portion is $5,000.	

$	70,000	
$4,465,000 Series 2016A Special Assessment Revenue Bonds are due in annual principal installments beginning May 2017 and maturing May 2036. Fixed interest rate of 5.6% is due each May 1 and November 1 beginning May 2017. Current portion is $20,000.	

	315,000 	
Bonds Payable at September 30, 2025	$	385,000	

The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2025 are as follows:

Year Ending
 September 30, 		

	Principal			

	Interest			

	Total		
2026	$	25,000	$	21,560	$	46,560	

2027	30,000	20,160	50,160	
2028	30,000	18,480	48,480	
2029	30,000	16,800	46,800	
2030	30,000	15,120	45,120	
2031-2035	185,000	47,320	232,320	
2036-2039			55,000 			4,760  		59,760 	
Totals	 $	385,000 	 $	144,200 	 $	529,200 

NOTE E – LONG-TERM DEBT (CONTINUED)
Summary of Significant Bonds Resolution Terms and Covenants Significant Bond Provisions
The Series 2007A 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, 2017, at a redemption price equal to the principal amount of the Series 2007A Bonds to be redeemed, together with accrued interest to the redemption date. The Series 2016A are subject to redemption at the option of the District prior to maturity, in whole or in part, at any time after May 1, 2027, at a redemption price equal to the principal amount of the Series 2016A Bonds to be redeemed, together with accrued interest to the redemption date. The Series 2007A and Series 2016A Bonds are subject to extraordinary mandatory redemption prior to maturity in the manner determined by the Bond Registrar if certain events occurred as 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.
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 Fund – The Series 2007A Reserve Account was funded from the proceeds of the Series 2007A Bonds in an amount equal to the reserve account percentage (6.9%) times the deemed outstanding bonds. 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, 2025:

Reserve	Reserve
		Balance	  Requirement  Special Assessment Revenue Bonds, Series 2007A	$		16,195		$	4,830

NOTE F – SPECIAL ASSESSMENT REVENUES

Assessments are non-ad valorem assessments on benefitted property within the District. Operation and Maintenance Assessments are based upon the adopted budget and levied annually at a public hearing held by the District. Debt Service Assessments are levied when bonds are issued and collected annually. The District may collect assessments directly or utilize the uniform method of collections (Chapter 197.3632, Florida Statues). Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method 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.
Assessments and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.
NOTE G – RELATED PARTY
One member of the Board of Supervisors was affiliated with the Developer or a related entity at September 30, 2025.
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. There were no claims from these risks 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
CrossCreek Community Development District Manatee 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 (Government Auditing Standards), the financial statements, as listed in the table of contents, of CrossCreek Community Development District, as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the basic financial statements and have issued our report thereon dated April 2, 2026.

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

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To the Board of Supervisors
CrossCreek Community Development District

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

Purpose of this Report

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

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida April 2, 2026

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MANAGEMENT LETTER

To the Board of Supervisors
CrossCreek Community Development District Manatee County, Florida

Report on the Financial Statements
We have audited the financial statements of CrossCreek Community Development District as of and for the year ended September 30, 2025, and have issued our report thereon dated April 2, 2026.
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 those reports, which are dated April 2, 2026, 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. There were no findings or recommendations in the preceding financial audit report.

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To the Board of Supervisors
CrossCreek 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 CrossCreek Community Development District met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit, we determined that CrossCreek Community Development District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for CrossCreek Community Development District. It is management’s responsibility to monitor CrossCreek Community Development District’s financial condition; and 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, CrossCreek Community Development District reported:
The total number of District employees compensated in the last pay period of the District’s fiscal year as: 0
The total number of independent contractors, to whom nonemployee compensation was paid in the last month of the District’s fiscal year as: 9
All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency as: $0
All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency: $206,383.09
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, 2024, together with the total expenditures for such project as: None
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
CrossCreek 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, CrossCreek Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District:
$231.42 – $1,698.21 for the General Fund and $725.81 – $1,388.86 for the Debt Service Fund.
The amount of special assessments collected by or on behalf of the District: $581,259.62.
The total amount of outstanding bonds issued by the District and the terms of such bonds are as follows: $70,000 Series 2007A Bonds due on May 2039, and $315,000 Series 2016A Bonds due May 2036.
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 April 2, 2026

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

To the Board of Supervisors
CrossCreek Community Development District Manatee County, Florida

We have examined CrossCreek Community Development District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2025. Management is responsible for CrossCreek Community Development District’s compliance with those requirements. Our responsibility is to express an opinion on CrossCreek 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 CrossCreek 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 CrossCreek Community Development District's compliance with the specified requirements.

In our opinion, CrossCreek Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2025.

Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL
Fort Pierce, Florida April 2, 2026

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