Concord Station Community Development District. Financial Statements (Unaudited) October 31, 2013

Transcription

1 Concord Station Community Development District Financial Statements (Unaudited) October 31, 2013 Prepared by Rizzetta & Company, Inc. District Manager

2 Balance Sheet As of 10/31/2013 (In Whole Numbers) Capital Projects General Fund Debt Service Fund Fund Total Governmental Funds General Fixed Assets Account Group General Long-Term Debt Account Group Assets Cash In Bank 134, , Investments 411,868 1,693, ,080 2,408, Accounts Receivable 535,843 1,307, ,843, Prepaid Expenses Due From Others 5, , Amount Available in Debt Service ,001,233 Amount To Be Provided Debt Service ,953,767 Fixed Assets ,826,642 0 Total Assets 1,088,527 3,001, ,080 4,392,841 3,826,642 16,955,000 Liabilities Accounts Payable 20, , Accrued Expenses Payable Other Current Liabilities Due To Other Funds Revenue Bonds Payable--Long Term ,955,000 Total Liabilities 20, , ,955,000 Fund Equity & Other Credits Beginning Fund Balance 564,625 1,693, ,080 2,561,366 3,826,642 0 Net Change in Fund Balance 503,480 1,307, ,811, Total Fund Equity & Other Credits 1,068,105 3,001, ,080 4,372,418 3,826,642 0 Total Liabilities & Fund Equity 1,088,527 3,001, ,080 4,392,841 3,826,642 16,955,000

3 Statement of Revenues and Expenditures General Fund (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 371, , ,327 6,374 (1.71)% Off Roll 163, , , % Total Revenues 535, , ,292 6,445 (1.20)% Expenditures Legislative Supervisor Fees 4, (200) 87.50% Financial & Administrative Administrative Services 8, % District Management 24,720 2,060 2, % District Engineer 15,000 1, , % Disclosure Report 5, % Trustees Fees 5, % Tax Collector/Property Appraiser Fees % Financial Consulting Services 8,858 5, , % Accounting Services 13,596 1,133 1, % Auditing Services 3, % Arbitrage Rebate Calculation % Public Official Liability Insurance 4,000 4,000 3, % Legal Advertising % Dues, Licenses & Fees % Legal Counsel District Counsel 12,000 1,000 1,394 (394) 88.38% Electric Utility Services Utility Services 14,000 1, % Street Lights 59,500 4,958 4, % Stormwater Control Fountain Service Repairs & 2, % Lake/Pond Bank 10, % Aquatic Contract 35,000 2,917 2, % Aquatic Plant Replacement 15,000 1, , % Other Physical Environment Property/Casualty/GL Insurance 4,546 4,546 4, % Rust Prevention 9, % Entry & Walls 5, % Landscape 185,000 15,417 12,141 3, %

4 Statement of Revenues and Expenditures General Fund (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Irrigation Repairs and Landscape Replacement Plants, Shrubs, Trees Road & Street Facilities Street Light/Decorative Light 15,000 1,250 1,368 (118) 90.87% 20,000 1,667 2,600 (933) 87.00% 5, % Sidewalk Repair & 2, % Roadway Repair & 2, % Contingency Miscellaneous Contingency 44,750 3, , % Total Expenditures 535,847 57,086 38,812 18, % Excess of Revenue Over (Under) Expenditures 0 478, ,480 24, % Fund Balance, Beginning of Period , , % Fund Balance, End of Period 0 478,761 1,068, , %

5 Statement of Revenues and Expenditures Debt Service Fund (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Special Assessments Tax Roll 902, , % Off Roll 404, , % Total Revenues 1,307,572 1,307,572 (0) 0.00% Expenditures Debt Service Interest 887,572 0 (887,572) (100.00)% Principal 420,000 0 (420,000) (100.00)% Total Expenditures 1,307, ,307, % Excess Of Revenues Over (Under) Expenditures 0 1,307,572 1,307, % Exc. Of Rev./Other Sources Over Expend./Other Uses 0 1,307,572 (1,307,572) 0.00% Fund Balance, Beginning of Period 0 1,693,661 1,693, % Fund Balance, End of Period 0 3,001,233 3,001, %

6 Statement of Revenues and Expenditures Capital Projects Fund (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Excess Of Revenues Over (Under) Expenditures % Exc. Of Rev./Other Sources Over Expend./Other Uses % Fund Balance, Beginning of Period 0 303, , % Fund Balance, End of Period 0 303, , %

7 Concord Station CDD Investment Summary October 31, 2013 Balance as of Account Investment October 31, 2013 State Board of Administration Local Government Investment Pool $ 2,158 State Board of Administration Local Government Investment Pool B 544 SunTrust Bank Business Money Market 186,787 Regions Bank Business Money Market 21,121 The Bank of Tampa Business Money Market 201,258 Total General Fund Investments $ 411,868 US Bank Series 2005 Reserve First American Treasury Obligation Fund Class Z $ 1,128,016 US Bank Series 2005 Revenue First American Treasury Obligation Fund Class Z 565,645 Total Debt Service Fund Investments $ 1,693,661 US Bank Series 2005 Construction First American Treasury Obligation Fund Class Z $ 7 US Bank Series 2005 Deferred Cost First American Treasury Obligation Fund Class Z 303,073 Total Capital Project Fund Investments $ 303,080

8 Summary A/R Ledger Invoice Date Customer Name Invoice Number Current Balance 10/1/2013 Concord Station LLP , /1/2013 Pasco County Tax Collector FY ,274, Report Balance 1,843,415.55

9 Summary A/P Ledger General Fund Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Department of Economic Opportunity Duke Energy 10/31/2013 Summary Bill 10/13 ValleyCrest Landscape ValleyCrest Landscape ValleyCrest Landscape ValleyCrest Landscape 10/1/ Special District Fee FY 2013/ Summary Bill 10/13 4, /18/ OTC Clock Tower-Sylvester Palms /23/ Install 2000 Annuals 10/13 2, /28/ Landscape /Fertilization 10/13 12, /29/ Irrigation Repairs 10/ Total General Fund 20, Report Balance 20,422.67

10 Notes to Unaudited Financial Statements October 31, 2013 Balance Sheet 1. Trust statement activity has been recorded through 10/31/ See EMMA (Electronic Municipal Market Access) at for Municipal Disclosures and Market Data. Summary A/R Ledger 3. Payment terms for landowner assessments are (a) defined in the FY13-14 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.