Two Creeks Community Development District

Transcription

1 Two Creeks Community Development District Financial Statements (Unaudited) September 30, 2018 Prepared by: Rizzetta & Company, Inc. twocreekscdd.org rizzetta.com

2 Balance Sheet As of 9/30/2018 Total Governmental General Fund Reserve Fund Debt Service Fund Funds General Fixed Assets Account Group General Long-Term Debt Account Group Assets Cash In Bank 76, , Investments 54, , , Investments - Reserves 0 284, , Accounts Receivable Bond Prepayments Receivable Prepaid Expenses 14, , Deposits 3, , Due From Other Funds Amount Available in Debt Service ,919 Amount To Be Provided Debt Service ,388,081 Fixed Assets ,239,619 0 Total Assets 149, , ,148 1,119,939 4,239,619 10,060,000 Liabilities Accounts Payable 8, , Accrued Expenses Payable 8, , Other Current Liabilities ,229 14, Deposits Due To Other Funds Revenue Bonds Payable--Long Term ,060,000 Total Liabilities 16, ,229 31, ,060,000 Fund Equity & Other Credits Beginning Fund Balance 143, , , ,819 4,239,619 0 Net Change in Fund Balance (11,617) 115,004 8, , Total Fund Equity & Other Credits 132, , ,919 1,088,844 4,239,619 0 Total Liabilities & Fund Equity 149, , ,148 1,119,939 4,239,619 10,060,000

3 Statement of Revenues and General Fund From 10/1/2017 Through 9/30/2018 Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 1,139 1, % Special Assessments Tax Roll 434, , , (0.10)% Other Miscellaneous Revenues Miscellaneous % Total Revenues 434, , ,497 2,510 (0.58)% Legislative Supervisor Fees 4,000 4,000 2,400 1, % Financial & Administrative Administrative Services 4,500 4,500 4, % District Management 26,300 26,300 26,300 (0) 0.00% District Engineer 1,000 1,000 8,515 (7,515) (751.51)% Disclosure Report 1,000 1,000 1, % Trustees Fees 4,000 4,000 4,041 (41) (1.01)% Financial & Revenue Collections 5,000 5,000 5,000 (0) 0.00% Assessment Roll 5,000 5,000 5, % Accounting Services 16,000 16,000 16, % Auditing Services 3,700 3,700 3,769 (69) (1.86)% Arbitrage Rebate Calculation ,250 (750) (150.00)% Public Officials Liability 2,475 2,475 2, % Insurance Legal Advertising 1,000 1,000 1,412 (412) (41.16)% Dues, Licenses & Fees % Miscellaneous Fees ,608 (1,008) (167.91)% Website Hosting, Maintenance & 1,200 1,200 1, % Backup Legal Counsel District Counsel 13,000 13,000 13,369 (369) (2.83)% Electric Utility Services Utility Services 18,750 18,750 17, % Street Lights 14,900 14,900 13,419 1, % Garbage/Solid Waste Control Services Garbage - Recreation Facility 1,600 1,600 1,846 (246) (15.36)% Water-Sewer Combination Services Utility Services 30,000 30,000 31,877 (1,877) (6.25)% Stormwater Control Fountain Service Repairs & 1,200 1, , % Maintenance Aquatic Maintenance 10,900 10,900 14,560 (3,660) (33.57)%

4 Statement of Revenues and General Fund From 10/1/2017 Through 9/30/2018 Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Miscellaneous Expense % Other Physical Environment General Liability & Property 11,242 11,242 10,228 1, % Insurance Entry & Walls Maintenance 1,000 1, , % Landscape & Irrigation 111, , ,426 (1,217) (1.09)% Maintenance Contract Irrigation Maintenance/Repairs 5,000 5,000 9,127 (4,127) (82.53)% Landscape Replacement Plants, 5,000 5, , % Shrubs, Trees Miscellaneous Expense 2,000 2,000 2,756 (756) (37.77)% Road & Street Facilities Street Light Decorative Light Maintenance 3,000 3,000 2, % Parks & Recreation Amenity Management Services Contract Maintenance & Repair - Amenity Facility 78,382 78,382 77, % 7,500 7,500 7, % Grill Maintenance & Propane 1,000 1, % Fitness Equipment Maintenance 1,000 1, % & Repairs Pool Chemicals & Permits 6,000 6,000 5, % Pest Control & Termite Bond (27) (6.35)% Fitness Equipment Lease 7,528 7,528 7,529 (1) 0.00% Cable Television & Internet 4,656 4,656 4,746 (90) (1.94)% Tennis/Athletic Court/Park 1,500 1,500 11,815 (10,315) (687.66)% Maintenance & Supplies Miscellaneous Expense 1,000 1,000 1,425 (425) (42.51)% Contingency Miscellaneous Contingency 20,000 20,000 16,134 3, % Total 434, , ,113 (14,126) (3.25)% Excess Revenue Over (Under) 0 0 (11,617) (11,617) 0.00% Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 0 (11,617) (11,617) 0.00% Fund Balance, Beginning of Period , , % Fund Balance, End of Period , , %

5 Statement of Revenues and Reserve Fund From 10/1/2017 Through 9/30/2018 Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings 0 1,646 1, % Special Assessments Tax Roll 113, , % Total Revenues 113, ,004 1, % Contingency Capital Reserve 113, , % Total 113, , % Excess of Revenue Over (Under) 0 115, , % Excess Of Rev./Other Sources Over (Under) Expend./Other Uses 0 115, , % Fund Balance, Beginning of Period 0 169, , % Fund Balance, End of Period 0 284, , %

6 Statement of Revenues and Debt Service Fund From 10/1/2017 Through 9/30/2018 Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings 0 8,582 8, % Special Assessments Tax Roll 744, , % Debt Service Prepayments 0 218, , % Total Revenues 744, , , % Debt Service Interest 349, ,047 (4,436) (1.26)% Principal 395, ,000 (215,000) (54.43)% Total 744, ,047 (219,436) (29.47)% Excess of Revenue Over (Under) 0 8,637 8, % Excess Of Rev./Other Sources Over (Under) Expend./Other Uses 0 8,637 8, % Fund Balance, Beginning of Period 0 663, , % Fund Balance, End of Period 0 671, , %

7 Investment Summary September 30, 2018 Balance as of Account Investment September 30, 2018 The Bank of Tampa Money Market Account $ 54,415 Total General Fund Investments $ 54,415 The Bank of Tampa ICS Capital Reserve: First Tennessee Bank Money Market Account $ 3 Mutual of Omaha Bank Money Market Account 21 Huntington National Bank Money Market Account 39,524 United Bank Money Market Account 245,191 Total Reserve Fund Investments $ 284,739 US Bank Series 2016 Reserve A-1 First American Treasury Obligation Fund Class Y $ 298,734 US Bank Series 2016 Prepayment A-1 First American Treasury Obligation Fund Class Y 85,663 US Bank Series 2016 Prepayment A-2 First American Treasury Obligation Fund Class Y 21,358 US Bank Series 2016 Reserve A-2 First American Treasury Obligation Fund Class Y 74,106 US Bank Series 2016 Revenue First American Treasury Obligation Fund Class Y 206,287 Total Debt Service Fund Investments $ 686,148

8 Aged Payables by Invoice Date Aging Date - 9/1/ General Fund From 9/1/2018 Through 9/30/2018 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Vesta Property Services, Inc. Vesta Property Services, Inc. 9/1/ Supplies Reimbursement 07/18 9/1/ Supplies Reimbursement 08/18 1, Playmore West, Inc. 9/17/2018 X17070 Install Playworld 1, Equipment Florida Department of 9/22/ Sales & Use Tax 07/ Revenue U.S.Bank 9/25/ Administration Fees S /01/18-08/31/19 4, Yellowstone Landscape 9/30/2018 INV Irrigation Repairs 09/ Yellowstone Landscape 9/30/2018 INV Irrigation Repairs 09/ Yellowstone Landscape 9/30/2018 INV Irrigation Repairs 09/ Waste Pro USA - Jacksonville 10/1/ Amenity Waste Disposal 10/18 (163.74) Total General Fund 8, Report Total 8,547.15

9 Notes to Unaudited Financial Statements September 30, 2018 Balance Sheet 1. Trust statement activity has been recorded through 09/30/ See EMMA (Electronic Municipal Market Access) at for Municipal Disclosures and Market Data. 3. For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund.