Triple Creek Community

Development District

ANNUAL FINANCIAL REPORT

September

30,

2017

Triple Creek Community Development District

ANNUAL FINANCIAL REPORT

Fiscal Year Ended September 30, 2017

TABLE OF CONTENTS

	Page	
	Number	
REPORT OF INDEPENDENT AUDITORS	1-2	
MANAGEMENT'SDISCUSSION AND ANALYSIS	3-8	
BASIC FINANCIAL STATEMENTS:		
Government-wide Financial Statements		
Statement of Net Position	9	
Statement of Activities	1O	
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	16-28	
INDEPENDENT AUDITOR'SREPORT 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	31-32	
INDEPENDENT ACCOUNTANT'SREPORT/COMPLIANCE WITH SECTION		
218.415, FLORIDA STATUTES	33	

~~ti Berger, Toombs, Elam,
,OJ Gaines & Frank

Certified Public Accountants	PL

600 Citrus Avenue

Suite 200

Fort Pierce, Florida 34950

772/461-6120 II 461-1155

FAX: 772/468-9278

Report of Independent Auditors

To the Board of Supervisors

Triple Creek Community Development District

Hillsborough County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Triple Creek Community Development District as of and for the year ended September 30, 2017, and the related notes to financial statements, which collectively comprise the District'sbasic financial statements as listed in the table of contents.

Management'sResponsibility 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; this includes 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.

Auditor'sResponsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Accounting Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor'sjudgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity'sinternal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Fort Pierce / Stuart
Member AICPA	- 1 -			
	Member AICPA Division For CPA Firms	Member FICPA		
	Private Companies Practice Section			

~~tt Berger, Toombs, Elam,
,OJ Gaines & Frank

To the Board of Supervisors

Triple Creek Community Development District

Opinion

In our opinion, the basic financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities and each major fund of Triple Creek Community Development District as of September 30, 2017, and the respective changes in financial position and the budgetary comparison for the General Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Other Matters

Required Supplementary Information· ·

Governmental accounting principles generally accepted in the United States of America require that the Management'sDiscussion and Analysis and budgetary comparison be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by 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 governmental auditing standards generally accepted in the United States of America, which consisted principally of inquires of management regarding the methods of preparing the information and comparing the information for consistency with management'sresponses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued a report dated March 23, 2018 on our consideration of the District'sinternal 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 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 Triple Creek Community Development District'sinternal control over financial reporting and compliance.

J)~ Jrxm/ocl fl~
00~ 4  J/4WJ
Berger, Toombs, Elam, Gaines & Frank

Certified Public Accountants PL

Fort Pierce, Florida

March 23, 2018

- 2 -

Triple Creek Community Development District

MANAGEMENT'SDISCUSSION AND ANALYSIS

For the Year Ended September 30, 2017

Management'sdiscussion and analysis of Triple Creek Community Development District (the "District") financial performance provides an objective and easily readable analysis of the District's financial activities for the fiscal year ended September 30, 2017. The analysis provides summary financial information for the District and should be read in conjunction with the District'sfinancial 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'smajor funds. The Notes to financial statements provide additional information concerning the District'sfinances. This report also contains other supplementary information in addition to the basic financial statements.

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'soperations, expenses have been reported as governmental activities. Governmental activities financed by the District include general government, physical environment 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.

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Triple Creek Community Development District MANAGEMENT'SDISCUSSION AND ANALYSIS For the Year Ended September 30, 2017

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances - budget and actual is provided for the District'sGeneral Fund. Fund financial statements provide more detailed information about the District'sactivities. 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'sfinancial standing. These statements are comparable to private-sector companies and give a good understanding of the District'soverall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including land, buildings and improvements, and infrastructure 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 general obligation bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government-wide financial statements, a reconciliation is 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, 2017.

+	The District's total assets exceeded total liabilities by $3,429,433 (net position). Unrestricted net position for Governmental Activities was $128,364. Net investment in capital assets was $2,596,618 and restricted net position was $704,451.

+	Governmental activities revenues totaled $5,073,474 while governmental activities expenses totaled $2,674,962.

-4-

Triple Creek Community Development District MANAGEMENT'SDISCUSSION AND ANALYSIS For the Year Ended September 30, 2017

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District

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

Net Position		
		Governmental Activities	
		2017	2016	
Current assets	$   733,843	$   269,125	
Restricted assets	16,426,955	293,951	
Capital assets, net	11,382,446	4,268,668	
Total Assets	28,543,244	4,831,744	
Current liabilities	3,409,498	391,351	
Non-current liabilities	21,704,313	3,409,472	
Total Liabilities	25,113,811	3,800,823	
Net Position			
Net investment in capital assets	2,596,618	1,307,424	
Restricted	704,451	71,586	
Unrestricted	128,364	(348,089)	
Total Net Position		$  3,429,433	$1,030,921	

The increase in current assets was primarily related to the increase in assessments receivable.

The increase in restricted assets is primarily related to the unspent proceeds from the Series 2017 bond proceeds.

The increase in capital assets is related to the construction in progress additions in the current year.

The increase in current liabilities is related to the accounts payable and contracts retainage payable for the 2017 project.

The increase in long-term debt is related to the issuance of the Series 2017 bonds.

The increase in net position is primarily the result of principal payments in excess of depreciation.

- 5 -

Triple Creek Community Development District

MANAGEMENT'SDISCUSSION AND ANALYSIS

For the Year Ended September 30, 2017

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Financial Analysis of the District (Continued)

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

Change in Net Position											
					Governmental Activities				
					2017							2016				
Program Revenues	$		$					
Charges for services		4,447,621		537,731				
Grants and contribution					576,839							196,471				
General Revenues																
Miscellaneous revenues					1,089							794				
Investment earnings					47,925							85				
Total Revenues					5,073,474							735,081				
Expenses																
General government					156,592							129,996				
Physical environment					673,307							467,374				
Culture/recreation					58,291							106,609				
Interest on long-term debt					1,786,772							205,076				
Total Expenses					2,674,962							909,055				
Change in Net Position					2,398,512							(173,974)				
Net Position - Beginning of Year					1,030,921							1,204,895				
Net Position - End of Year	$	3,429,433		$	1,030,921				

The increase in charges for services relates to increased special assessments and prepayments for the Series 2017 Bonds.

The increase in grants and contributions is the result of developer capital contributions for the 2017 Project.

The increase in interest is related to the issuance of the Series 2017 Bonds.

- 6 -

Triple Creek Community Development District

MANAGEMENT'SDISCUSSION AND ANALYSIS

For the Year Ended September 30, 2017

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Capital Assets Activity

The following schedule provides a summary of the District'scapital assets as of September 30, 2017 and 2016.

				Governmental Activities		
Description				2017		2016		
Land and improvements	$	50,000	$		
Construction in progress			7,621,085	341,212		
Buildings			1,290,129	1,290,129		
Infrastructure			1,218,872	1,218,872		
Stormwater management			1,946,854	1,946,854		
Equipment			91,116	91,116		
Accumulated depreciation			(835,610)		(619,515)		
Total Capital Assets (Net)	$	11,382,446		$    4,268,668		

The activity for the year consisted of additions to land and improvements of $50,000 and construction in progress of $7,279,873 and $216,095 in depreciation.

General Fund Budgetary Highlights

Actual expenditures were less than the total budget for the year ended September 30, 2017 because of lower than anticipated utilities and amenity center management contract expenditures.

There were no amendments to the budget for the year ended September 30, 2017.

- 7 -

Triple Creek Community Development District

MANAGEMENT'SDISCUSSION AND ANALYSIS

For the Year Ended September 30, 2017

OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)

Debt Management

Governmental Activities debt includes the following:

♦	In June 2012, the District issued $3,180,000 Series 2012 Special Assessment Bonds. These bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. The balance outstanding at September 30, 2017 was $3,055,000.

♦	In February 2017, The District issued Series 2017A and Series 2017B Special Assessment Bonds. The bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. The balance outstanding at September 30, 2017 was $19,410,000

♦	The developer advanced the District certain monies that the District has agreed to reimburse the Developer when and if funds become available. The balance outstanding at September 30, 2017 was $101,889.

Economic Factors and Next Year'sBudget

Triple Creek Community Development District does not expect any economic factors to have any significant effect on the financial positions or results of operation of the District in fiscal year 2018.

Request for Information

The financial report is designed to provide a general overview of Triple Creek Community Development District'sfinances 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 Triple Creek Community Development District, Rizzetta & Company, 12750 Citrus Park Lane, Ste 115, Tampa, FL 33625.

- 8 -

Triple Creek Community Development District						
STATEMENT OF NET POSITION						
September 30, 2017						
			Governmental		
				Activities		
ASSETS						
						
Current Assets						
Cash	$	174,064				
Accounts receivable		3,218				
Assessments receivable		524,692				
Deposits		14,770				
Prepaid expenses			17,099				
Total Current Assets			733,843				
Non-Current Assets						
Restricted assets						
Investments		16,426,955				
Capital Assets, Not Being Depreciated						
Land and improvements		50,000				
Construction in progress		7,621,085				
Capital Assets, Being Depreciated						
Buildings		1,290,129				
Infrastructure		1,218,872				
Stormwater management		1,946,854				
Equipment		91,116				
Less: accumulated depreciation			(835,610)				
Total Non-current Assets			27,809,401				
Total Assets			28,543,244				

LIABILITIES

Current Liabilities

Accounts payable and accrued expenses

Contracts retainage payable

Accrued interest

Unearned revenues

Bonds payable - current portion

Total Current Liabilities

Non-Current Liabilities

Developer advance

Bonds payable

Total Non-Current Liabilities

Total Liabilities

NET POSITION

Net investment in capital assets

Restricted for debt service

Unrestricted

Total Net Position

1,672,575

573,380

819,326

9,217

335,000

3,409,498

101,889

21,602,424

21,704,313

25,113,811

2,596,618

704,451

128,364

$	3,429,433

See accompanying notes to financial statements.

-9-

Triple Creek Community Development District

STATEMENT OF ACTIVITIES

For the Year Ended September 30, 2017

														Net (Expense}	
														Revenues and	
															Changes in	
					Program Revenues					Net Position	
									Capital							
				Charges for			Grants and					Governmental	
Functions/Programs		Expenses		Services			Contributions						Activities	
Governmental Activities																
General government	$	(156,592)		$	66,932	$		$	(89,660)	
Physical environment		(673,307)			195,425				576,839						98,957	
Culture/recreation		(58,291)			24,915										(33,376)	
Interest on long-term debt		(1,786,772)			4,160,349										2,373,577	
Total Governmental Activities	$	(2,674,962)		$	4,447,621		$	576,839						2,349,498	

General revenues:			
Miscellaneous revenues	1,089	
Investment earnings	47,925	
Total General Revenues	49,014	
Change in Net Position	2,398,512	
Net Position - Beginning of year		1,030,921	
Net Position - End of year	$   3,429,433	

See accompanying notes to financial statements.

-10-

Triple Creek Community Development District

BALANCE SHEET -

GOVERNMENTAL FUNDS

September 30, 2017

																											Total		
								Debt					Debt				Capital					Capital				Governmental		
			General				Service 200				Service 201			Projects 300				Projects 301					Funds		
ASSETS																													
Cash	$	164,952						$		$		$	9,112	$	174,064			
Assessments receivable												524,692														524,692			
Accounts receivable																					3,218					3,218			
Due from other funds		175																								175			
Prepaid items		17,099																								17,099			
Deposits		14,770																								14,770			
Restricted assets																													
Investments, at fair value							283,302					1,916,527				1					14,227,125					16,426,955			
Total Assets		$	196,996	$	283,302	$	2,441,219	$	1	$	14,239,455	$	17,160,973			
LIABILITIES AND FUND BALANCES																													
LIABILITIES																													
Accounts payable and accrued expenses	$	59,415	$		$		$		$	1,613,160	$	1,672,575			
Contracts/retainage payable																					573,380					573,380			
Unearned revenues		9,217																								9,217			
Due to other funds																					175					175			
Total Liabilities		68,632																			2,186,715					2,255,347			
FUND BALANCES																													
Nonspendable - prepaid expenses/deposits		31,869																								31,869			
Restricted																													
Debt service							283,302					2,441,219														2,724,521			
Capital projects																1					12,052,740					12,052,741			
Unassigned		96,495																								96,495			
Total Fund Balances		128,364					283,302					2,441,219				1					12,052,740					14,905,626			
Total Liabilities and Fund Balances		$	196,996	$	283,302	$	2,441,219	$	1	$	14,239,455	$	17,160,973			

See accompanying notes to financial statements.

-11-

Triple Creek Community Development District RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES September 30, 2017

Total Governmental Fund Balances	$	14,905,626	
Amounts reported for governmental activities in the Statement of Net Position			
are different because:			
Capital assets land, $50,000, construction in progress, $7,621,085, buildings, $1,290,129,			
infrastucture, $1,218,872, stormwater management, $1,946,854, and			
equipment, $91,116, net of accumulated depreciation, $(835,610) are not current			
financial resources, and therefore are not reported at the fund level.		11,382,446	
Long-term liabilities, including bonds payable, $(22,465,000), net of bond discounts,			
net, $527,576 and developer advances, $(101,889), are not due and payable			
in the current period, and therefore are not reported at the fund level.		(22,039,313)	
Accrued interest expense for long-term debt is not a current financial use,			
and therefore, is not reported in the fund level.		(819,326)	
Net Position of Governmental Activities	$	3,429,433	

See accompanying notes to financial statements.

-12-

Triple Creek Community Development District

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -

GOVERNMENTAL FUNDS

September 30, 2017

																													Totals	
										Debt				Debt			Capital			Capital				Governmental	
				General				Service 200					Service 201				Projects 300				Projects 301				Funds	
REVENUES																														
Special assessments	$	287,272			$	246,871		$ 3,913,478		$		$			$ 4,447,621			
Developer contributions		511,923													11,698		53,218			576,839			
Miscellaneous revenues		1,089																						1,089			
Investment earnings		175						1,464			4,324			31			41,931				47,925			
Total Revenues			800,459						248,335			3,917,802			11,729			95,149				5,073,474			
EXPENDITURES																														
Current																														
General government		156,592																						156,592			
Physical environment		457,212																						457,212			
Culture/recreation		58,291																						58,291			
Capital outlay															800		7,329,073			7,329,873			
Debt service																														
Principal								45,000		3,200,000						207,583			3,452,583			
Interest								198,353		39,356											237,709			
Other debt service																				805,956				805,956			
Total Expenditures		672,095						243,353		3,239,356		800		8,342,612			12,498,216			
Excess (deficiency) of revenues																														
over (under) expenditures		128,364						4,982		678,446		10,929		{8,247,463)			{7,424,742)			
Other Financing Sources (Uses)																														
Long-term debt proceeds										2,297,304						20,312,696			22,610,000			
Bond discounts										(534,531)											(534,531)			
Transfers in															41,780		29,287			71,067			
Transfers out																{29,287)			{41,780)				{71,067)			
Total Other Financing Sources (Uses)										1,762,773		12,493		20,300,203			22,075,469			
Net change in fund balances		128,364						4,982		2,441,219		23,422		12,052,740			14,650,727			
Fund Balances - Beginning of year								278,320							{23,421)							254,899			
																			
Fund Balances - End of year	$	128,364				$	283,302			$ 2,441,219			$			$12,052,740				$14,905,626			

See accompanying notes to financial statements.

- 13-

Triple Creek Community Development District

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, 2017

Net Change in Fund Balances - Total Governmental Funds	$	14,650,727	
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 that capital			
outlay ($7,329,873) exceeded depreciation ($(216,095)) in the current period.		7,113,778	
Governmental funds report bond proceeds ($(22,610,000)) as an other financing source			
and bond discounts ($534,531) as an other financing use, but the net proceeds			
increase long-term liabilities at the government-wide level		(22,075,469)	
Repayment of bond principal and developer advances is an expenditure in the			
governmental funds, but the repayment reduces long-term liabilities at the			
government-wide level.		3,452,583	
Bond discounts are amortized over the life of the bonds as interest. This is the		(6,955)	
current period amortization.			
In the Statement of Activities, interest is accrued on outstanding bonds,  whereas			
in governmental funds, interest expenditures are reported when due.  This			
is the net amount between the prior year and the current year accruals.		(736,152)	
Change in Net Position of Governmental Activities	$	2,398,512	

See accompanying notes to financial statements.

-14-

Triple Creek Community Development District

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - GENERAL FUND For the Year Ended September 30, 2017

															Variance with	
															Final Budget	
		Original				Final									Positive	
			Budget				Budget				Actual				(Negative)	
Revenues																	
Special assessments	$	284,008	$	284,008	$	287,272	$	3,264	
Developer contributions			463,267				463,267				511,923					48,656	
Miscellaneous revenues											1,089					1,089	
Investment earnings											175					175	
Total Revenues			747,275				747,275				800,459					53,184	
Expenditures																	
Current																	
General government			127,690				127,690				156,592					(28,902)	
Physical environment			472,135				472,135				457,212					14,923	
Cu ltu re/recreation			147,450				147,450				58,291					89,159	
Total Expenditures			747,275				747,275				672,095					75,180	
Net change in fund balances											128,364					128,364	
Fund Balances - Beginning of year																	
Fund Balances - End of year	$			$			$	128,364			$	128,364	

See accompanying notes to financial statements.

-15-

Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of Triple Creek Community Development District (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'smore significant accounting policies are described below.

1.	Reporting Entity

The District was established on May 11, 2007 by Ordinance No. 07-14 of the Board of County Commissioners of Hillsborough County, Florida. The District was established pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended {the "Act"), 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 governed by a five-member Board of Supervisors. One Supervisor is elected on an at-large basis by the landowners of the District and four Supervisors are elected by qualified electors residing within the District. The District operates within the criteria established by Chapter 190. The Board has the responsibility for allocating and levying assessments, approving budgets, exercising control over facilities and properties, controlling the use of funds generated by the District, approving the hiring and firing of key personnel, and financing improvements.

The reporting entity for the District includes all functions of government in which the District's Board exercises oversight responsibility. Oversight responsibility includes, but is not limited to, financial interdependency, designation of management, significant ability to influence operations and accountability for fiscal matters. As required by GAAP, these financial statements present the Triple Creek Community Development District, (the primary government) as a stand-alone government.

Based upon the application of the above-mentioned criteria as set forth in Governmental Accounting Standards Board, the District has identified no component units.

2.	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

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.	Measurement Focus and Basis of Accounting (Continued)

a.	Government-wide Financial Statements

	Government-wide financial statements report all non-fiduciary information about the reporting government as a whole. These statements include the governmental activities of the primary government. The effect of interfund activity has been removed from these statements.

	Governmental activities are supported by special assessments 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.

b.	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.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

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 has implemented the 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 the state 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'smanagement company.

Unassigned Fund Balance - This classification is the residual classification for the government'sgeneral fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when 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.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

2.	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 were 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.

3.	Basis of Presentation

a.	Governmental Major Funds

	General Fund - The General Fund is the District'sprimary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3.	Basis of Presentation (Continued)

	a.   Governmental Major Funds (Continued)

Debt Service Fund 200 - This Debt Service Fund accounts for the debt service requirements to retire Series 2012 special assessment bonds which were used to finance the construction of District infrastructure improvements and finance certain additional improvements. The bond series is secured by a pledge of debt service special assessment revenues in any fiscal year related to the improvements. A lien is placed on all benefited land in relationship to the debt outstanding.

Debt Service Fund 201 - This Debt Service Fund accounts for the debt service requirements to retire Series 2017 special assessment bonds which were used to finance the construction of certain infrastructure improvements. The bond series is secured by a pledge of debt service special assessment revenues in any fiscal year related to the improvements, A lien is placed on all benefited land in relationship to the debt outstanding.

Capital Projects Fund 300 - This Capital Project Fund accounts for financial resources to be used for the acquisition or construction of major infrastructure within the District financed by the Series 2012 bonds.

Capital Projects Fund 301 - This Capital Project Fund accounts for financial resources to be used for the acquisition or construction of major infrastructure within the District financed by the Series 2017 bonds.

b.	Non-current Governmental Assets/Liabilities

	GASS Statement 34 requires that non-current governmental assets, such as land and buildings, 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.

-20-

Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

4.	Assets, Liabilities and Net Position or Equity

a.	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:

1.	Direct obligations of the United States Treasury;

2.	The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida lnterlocal Cooperative Act of 1969;

3.	Interest-bearing time deposits or savings accounts in authorized qualified public depositories;

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

b.	Receivables and Payables

Activities between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as "due to/from other funds". Any residual balances outstanding between the governmental activities and business-type activities are reported as "internal balances".

c.	Net Position

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted, or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District's bond covenants and other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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

Capital assets, which include construction in progress, land and improvements, infrastructure, buildings and equipment are reported in the applicable 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:

Furniture and equipment	5 years	
Infrastructure	15/20 years	
Stormwater management	25 years	
Buildings	30 years	

e.	Unamortized Bond Discounts

	Bond discounts associated with the issuance of revenue bonds are amortized according to the straight line method of accounting. For financial reporting, unamortized bond discounts are netted against the applicable long-term debt.

f.	Budgets

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

-22-

Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE A -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

4.	Assets, Liabilities and Net Position or Equity (Continued) g. Use of Estimates

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

NOTE B -  CASH AND INVESTMENTS

All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments.

Custodial Credit Risk - Deposits

Custodial credit risk is the risk that in the event of a bank failure, the District'sdeposits 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, 2017, the District'sbank balance was $178,939 and carrying value was $174,064. 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.

As of September 30, 2017, the District had the following investments and maturities:

Investment		Maturity		Fair Value	
Federated Govt Obligation Tax-Managed				
Fund #636	46 days*	$	283,303	
Federated Govt Obligation Institutional Shares	35 days*		16,143,652	
Total		$16,426,955	

*Maturity is a weighted average maturity.

-23-

Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE B -  CASH AND INVESTMENTS (CONTINUED)

Custodial Credit Risk -  Deposits (Continued)

The District categorizes its fair value measurement within the fair value hierarchy established by generally accepted accounting principles. The fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The District uses a market approach in measuring fair value that uses prices and other relevant information generated by market transactions involving identical or similar assets, liabilities, or groups of assets and liabilities.

Assets or liabilities are classified into one of three levels. Level 1 is the most realizable and is based on quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other observable inputs when obtained quoted prices for identical or similar assets, or liabilities, in markets that are not active. Level 3 is the least reliable and uses significant unobservable inputs that uses the best information available under the circumstances which includes the District'sown data in measuring unobservable inputs.

Based on the criteria in the preceding paragraph, the investment listed above is a Level 1 asset.

Interest Rate Risk

The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.

Credit Risk

The District's investments are limited by state statutory requirements and bond compliance. The District has no investment policy that would further limit its investment choices. As of September 30, 2017, the District'sinvestment in both of the Federated Govt Obligations noted above were rated AAAm by Standard & Poor's.

Concentration of Credit Risk

The District places no limit on the amount it may invest in any one fund. The investment in Federated Govt Obligations Tax Managed Fund represented 2% of the District's total investments and Federated Govt Obligations Fund represented the remaining 98%.

The types of deposits and investments and their level of risk exposure as of September 30, 2017 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.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE C -  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'sBonds. 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 D -  CAPITAL ASSETS

Capital Asset activity for the year ended September 30, 2017 was as follows:

				Balance								Balance		
			October 1,							September 30,		
Governmental activities:			2016		Additions		Dis12osals			2017					
																
Capital assets, not being depreciated															
Land	$		$	50,000	$	$	50,000					
Construction in progress		341 212			712791873					716211085					
Total capital assets, not being depreciated		341 212			713291873					7 671 085					
Capital assets, being depreciated:															
															
Building		1,290,129								1,290,129					
Infrastructure		1,218,872								1,218,872					
Stormwater management		1,946,854								1,946,854					
Equipment			91  116								91 116					
Total capital assets, being depreciated		415461971								4 546 971					
Less accumulated depreciation for:															
										(60,399)				
Building		(103,403)			(43,004)									
Infrastructure		(157,621)			(81,259)					(76,362)				
Stormwater management		(323,881)			(77,874)					(246,007)					
Equipment			(341610l			(13 1958l					(201652l			
Total accumulated depreciation		(6191515l			(2161095l					(4031420l			
Total capital assets being depreciated, net		319271456			(2161095l					3?111361					
												
Governmental activities capital assets, net	$	412681668	$	711131778	$	$	1113821446					

Depreciation of $216,095 was charged to physical environment.

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE E -  LONG-TERM DEBT

In June 2012, the District issued $3,180,000 of Special Assessment Bonds, Series 2012 maturing on November 1, 2043 with a fixed interest rate ranging from 5.625% to 6.75%. The bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal is to be paid serially commencing November 1, 2014 through November 1, 2043. The balance outstanding at September 30, 2017 was $3,055,000.

In February 2017, the District issued $9,850,000 Series 2017A Special Assessment Bonds maturing on November 1, 2046 with fixed interest rates ranging from 5.25% to 6.125%. These bonds were issued to finance a portion of the cost of acquisition, construction, installation, and equipping of the Series 2017 Project. The balance outstanding on the Series 2017 A Bonds at September 30, 2017 was $9,850,000.

In February 2017, the District issued $12,760,000 Series 20178 Special Assessment Bonds maturing on November 1, 2029 with a fixed interest rate ranging from 5. 75% to 6.125%. These bonds were issued to finance a portion of the cost of acquisition, construction, installation, and equipping of the Series 2017 Project. The balance outstanding on the Series 20178 Bonds at September 30, 2017 was $9,560,000.

The following  is a summary of activity for long-term debt of the District for the year ended
September 30, 2017:

Long-term debt at October 1, 2016	$	3,100,000	
Bond proceeds		22,610,000	
Principal payments		(3,245,000)	
Long-term debt at September 30, 2017		22,465,000	
Less bond discount, net		(527,576)	
Total long-term debt, September 30, 2017	$	21,937,424	

Developer advance at October 1, 2016	$	309,472		
Principal Payments		(207,583)	
Developer advance at September 30, 2017	$	101,889		

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Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE E -  LONG-TERM DEBT (CONTINUED)

The annual requirements to amortize the principal and interest of bonded debt outstanding as of
September 30, 2017 are as follows:

Year Ending															
Seetember 30,				Princieal				Interest				Total	
2018		$	335,000		$	1,607,412		$	1,942,412		
2019				185,000					1,343,519					1,528,519		
2020				200,000					1,333,216					1,533,216		
2021				205,000					1,322,378					1,527,378		
2022				220,000					1,311,006					1,531,006		
2023-2027				1,280,000					6,342,406					7,622,406		
2028-2032				11,260,000					4,471,681					15,731,681		
2033-2037				2,275,000					2,409,338					4,684,338		
2038-2042				3,090,000					1,570,422					4,660,422		
2043-2047				3,415,000					506,763					3,921,763		
Totals	$	22,465,000			$	22,218,141			$	44,683,141		

Summary of Significant Bonds Resolution Terms and Covenants

The District levies special assessments pursuant to Section 190.022, Florida Statutes and the assessment rolls are approved by resolutions of the District Board. The collections are to be strictly accounted for and applied to the debt service of the bond series for which they were levied. The District covenants to levy special assessments in annual amounts adequate to provide for payment of principal and interest on the bonds. Payment of principal and interest is dependent on the money available in the debt service fund and the District'sability to collect special assessments levied.

The Series 2012 Bonds are subject to redemption prior to maturity, in whole on any date, or in part at any time on or after November 1, 2032 and the Series 2017 A Bonds may be redeemed at anytime after November 1, 2030, at the redemption price of par, together with accrued interest to the date of redemption. The Series 20178 Bonds are not subject to redemption at the option of the District. The Series 2012 and Series 2017 Bonds are subject to extraordinary mandatory redemption prior to their selected maturity date in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.

The bond indenture provides for Debt Service Reserve Funds, which shall be held by the Trustee separate and apart from all other funds. The following is a schedule of reserve requirements and balances in the reserve accounts at September 30, 2017:

		Reserve		Reserve	
		Balance	Requirement	
Series 2012	$	124,165	$	123,372	
Series 2017 A	$	639,986	$	639,174	
Series 20178	$	576,447	$	437,658	

-27-

Triple Creek Community Development District NOTES TO FINANCIAL STATEMENTS September 30, 2017

NOTE E -  LONG-TERM DEBT (CONTINUED)

Developer Advance

During fiscal year 2016 the District entered into an agreement with the Developer to fund certain construction expenditures totaling $309,742 . The District made a payment to the Developer of $207,583 in the current year. The balance outstanding as of September 30, 2017 is $101,889.

NOTE F -  ECONOMIC DEPENDENCY

The developer owns a significant portion of the land in the District. The District'sactivity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District'soperations.

NOTE G -  INTERFUND ACTIVITY

The interfund activity as of and for the year ended September 30, 2017 was as follows:

					Due To	
					Series 2017	
	Due From	Capital Projects	
	General Fund		$	175	
					Transfers In	
					Series 2012	
	Transfers Out	Capital Projects	
	Series 2017 Capital Projects		$	12,493	

The due to/due from relates to Capital Projects 2017 Fund repaying the General Fund for construction costs and Transfer between funds relates to prior year accrued construction supplement.

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; natural disasters; and environmental remediation. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. The District has not filed any claims under the commercial insurance coverage over the last three years.

-28-

~~tt Berger, Toombs, Elam,
,OJ Gaines & Frank

Certified Public Accountants	PL

600 Citrus Avenue
Suite 200
Fort Pierce, Florida 34950

772/461-6120 II 461-1155
FAX: 7721468-9278

INDEPENDENT AUDITOR'SREPORT 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
Triple Creek Community Development District
Hillsborough County, Florida	·

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of Triple Creek Community Development District, as· of and for the year ended September 30, 2017, and the related notes to the financial statements, and have issued our report thereon dated March 23, 2018.

Internal Control Over Financial Reporting

In planning and performing our audit, we considered Triple Creek Community Development District'sinternal control over financial reporting to determine the 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 Triple Creek Community Development District'sinternal control. Accordingly, we do not express an opinion on the effectiveness.of Triple Creek Community Development District'sinternal control over financial reporting.

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'sfinancial 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 over financial reporting 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 may exist that have not been identified.

Fort Pierce / Stuart
Member AICPA	-29-			
	Member AICPA Division For CPA Firms	Member FICPA		
	Private Companies Practice Section			

fit"'"-~t Berger, Toombs, Elam,
...o,, Gaines & Frank

Celt.lAedf'ublk:Aa:nuntilnts	Pl

Board of Supervisors
Triple Creek Community Development District

Hillsborough County, Florida

Compliance and Other Matters

As part of obtaining reasonable assurance about whether Triple Creek Community Development District'sfinancial 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.

J>4 JamJotY fl/Jill,
OXJaiuJ ~ J!lU0
Berger, Toombs, Elam, Gaines & Frank

Certified Public Accountants

Fort Pierce, Florida

March 23, 2018

-30-

~~tt Berger, Toombs, Elam,
,OJ Gaines & Frank

Certified Public Accountants	PL

600	Citrus Avenue Suite 200

	Fort Pierce, Florida 34950

772/461-6120 II 461-1155

FAX: 7721468-9278

MANAGEMENT LETTER

To the Board of Supervisors
Triple Creek Community Development District
Hillsborough County, FL

Report on the Financial Statements

We have audited the financial statements of the Triple Creek Community Development District as of and for the year ended September 30, 2017, and have issued our report thereon dated March 23, 2018.

Auditor'sResponsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States; 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'sReport 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'sReport 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 March 23, 2018, 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 made in the preceding financial audit report.

Financial Condition

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 Triple Creek 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 Triple Creek Community Development District did not meet any of the conditions described in Section 218.503(1 ), Florida Statutes.

Fort Pierce I Stuart
-31 -

Member AICPA	Member AICPA Division For CPA Firms	Member FICPA	
	Private Companies Practice Section		

~ftt Berger, Toombs, Elam,
,OJ Gaines & Frank

Cr.'1ln..dPublk'Aca>l111tanlt	rt

To the Board of Supervisors
Triple Creek Community Development District

Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial conditions assessment procedures as of September 30, 2017 for the Triple Creek Community Development District. It is management'sresponsibility to monitor the Triple Creek Community Development District'sfinancial 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. ·

Annual Financial Report

Section 10.554(1 )(i)5.b. and 10.556(7), Rules of the Auditor General, requires that we apply appropriate procedures and communicate the results of our determination as to whether the annual financial report for the Triple Creek Community Development District for the fiscal year ended September 30, 2017, filed with the Florida Department of Financial Services pursuant to · Section 218.32(1 )(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2017. In connection with our audit, we determined that these two reports were in agreement.

Additional Matters

Section 10.554(1 )(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but 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.
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Berger, Toombs, Elam, Gaines & Frank
Certified Public Accountants PL
Fort Pierce, Florida

March 23, 2018

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Berger, Toombs, Elam,
Gaines & Frank

Certified Public Accountants	PL

600 Citrus Avenue

Suite 200

Fort Pierce, Florida 34950

772/461-6120 II 461-1155

FAX: 7721468-9278

INDEPENDENT ACCOUNTANT'SREPORT/COMPLIANCE WITH

SECTION 218.415, FLORIDA STATUTES

To the Board of Supervisors

Triple Creek Community Development District
Hillsborough County, Florida

We have examined Triple Creek Community Development District'scompliance with Section 218.415, Florida Statutes during the year ended September 30, 2017. Management is responsible for Triple Creek Community Development District's compliance with those requirements. Our responsibility is to express an opinion on Triple Creek Community Development District'scompliance 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 Triple Creek 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 Triple Creek Community Development District'scompliance with the specified requirements.

In our opinion, Triple Creek Community Development District complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2017.
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Berger, Toombs, Elam, Gaines & Frank
Certified Public Accountants PL
Fort Pierce, Florida

March 23, 2018

Fort Pierce I Stuc1rt
-33-

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	Private Companies Practice Section