Bridgewater of Wesley Chapel Community Development District

Transcription

1 Bridgewater of Wesley Chapel Community Development District Financial Statements (Unaudited) August 31, 2017 Prepared by: Rizzetta & Company, Inc. bwcdd.org rizzetta.com

2 Balance Sheet As of 8/31/2017 (In Whole Numbers) Debt Service General Fund Reserve Fund Fund Total Governmental Funds General Fixed Assets Account Group General Long-Term Debt Account Group Assets Cash In Bank 110, , Investments 663, , , Investments - Reserves 0 291, , Accounts Receivable 2, , Prepaid Expenses Deposits Due From Other Funds Amount Available in Debt Service ,068 Amount To Be Provided For Debt Service ,328,932 Fixed Assets ,753,025 0 Total Assets 777, , ,068 1,309,884 5,753,025 4,570,000 Liabilities Accounts Payable 1, , Accrued Expenses Payable 5, , Due To Other Funds Revenue Bonds Payable--Long Term ,570,000 Total Liabilities 6, , ,570,000 Fund Equity & Other Credits Beginning Fund Balance 615, , ,068 1,094,109 5,753,025 0 Net Change in Fund Balance 155,671 55,825 (2,000) 209, Total Fund Equity & Other Credits 771, , ,068 1,303,604 5,753,025 0 Total Liabilities & Fund Equity 777, , ,068 1,309,884 5,753,025 4,570,000

3 Statement of Revenues and General Fund From 10/1/2016 Through 8/31/2017 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 1,834 1, % Special Assessments Tax Roll 499, , ,413 6,805 (1.36)% Total Revenues 499, , ,247 8,639 (1.73)% Legislative Supervisor Fees 12,000 11,000 10, % Financial & Administrative Administrative Services 5,400 4,950 4, % District Management 25,036 22,950 22, % District Engineer 10,000 9,167 7,421 1, % Disclosure Report 1, % Trustees Fees 3,750 3,750 3,771 (21) (0.56)% Tax Collector/Property Appraiser % Fees Financial & Revenue Collections 10,000 9,583 9, % Agenda Books (86) 0.00% Accounting Services 14,000 12,833 12, % Auditing Services 5,000 5,000 5, % Arbitrage Rebate Calculation % Rentals & Leases % Public Officials Liability 2,600 2,600 2, % Insurance Legal Advertising 1, ,374 (457) (37.38)% Dues, Licenses & Fees % Website Fees & Maintenance 1, ,100 (183) (10.00)% Legal Counsel District Counsel 12,000 11,000 7,291 3, % Law Enforcement Deputy 27,500 25,208 13,860 11, % Electric Utility Services Utility Services 4,500 4,125 4,537 (412) (0.82)% Street Lights 31,352 28,739 26,901 1, % Stormwater Control Fountain Service Repairs & 1,500 1, % Maintenance Aquatic Maintenance 25,750 23,604 25,395 (1,791) 1.37% Midge Fly Treatment 25,000 22,917 29,414 (6,497) (17.65)% Lake/Pond Bank Maintenance 40,000 36, , % Aquatic Plant Replacement 8,000 7, , %

4 Statement of Revenues and General Fund From 10/1/2016 Through 8/31/2017 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Stormwater System Maintenance-Apple Snails 2,000 1, , % Other Physical Environment Management Contract 5,285 4,845 4, % Property/Casualty/GL Insurance 3,800 3,800 3, % Entry & Walls Maintenance 5,000 4, , % Landscape Maintenance 102,000 93,500 94,396 (896) 7.45% Irrigation Repairs/Maintenance 5,000 4,583 7,354 (2,770) (47.07)% Landscape Replacement Plants, 25,000 22,917 18,982 3, % Shrubs, Trees Well Maintenance 2,000 1, , % Landscape - Mulch 26,010 23,843 14,000 9, % Landscape 6,000 5,500 5, % Miscellaneous-Inspections Fire Ant Treatment 4,000 3, , % Tree Trimming Services 2,500 2, , % Road & Street Facilities Roadway Repair & Maintenance 5,000 4,583 1,746 2, % Sidewalk Repair & Maintenance 10,000 9,167 5,804 3, % Street Sign Repair & Replacement 1,500 1,375 1, % Street Light/Decorative Light Maintenance 1,500 1, , % Contingency Miscellaneous Contingency 25,000 22,917 4,106 18, % Total 499, , , , % Excess of Revenues Over (Under) 0 39, , , % Excess Of Rev./Other Sources Over (Under) Expend./Other Uses 0 39, , , % Fund Balance, Beginning of Period , , % Fund Balance, End of Period 0 39, , , %

5 Statement of Revenues and Reserve Fund From 10/1/2016 Through 8/31/2017 (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 55,000 55, % Total Revenues 55,000 55, % Contingency Capital Reserves 55, , % Total 55, , % Excess of Revenues Over (Under) Exc. Of Rev./Other Sources Over/(Under) Expend./Other Uses 0 55,825 55, % 0 55,825 55, % Fund Balance, Beginning of Period 0 235, , % Fund Balance, End of Period 0 291, , %

6 Statement of Revenues and Debt Service Fund From 10/1/2016 Through 8/31/2017 (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings 0 1,368 1, % Special Assessments Tax Roll 354, , % Total Revenues 354, ,683 1, % Debt Service Interest 179, ,683 (3,368) (1.87)% Principal 175, , % Total 354, ,683 (3,368) (0.95)% Excess of Revenues Over (Under) Exc. Of Rev./Other Sources Over/(Under) Expend./Other Uses 0 (2,000) (2,000) 0.00% 0 (2,000) (2,000) 0.00% Fund Balance, Beginning of Period 0 243, , % Fund Balance, End of Period 0 241, , %

7 Bridgewater of Wesley Chapel CDD Investment Summary August 31, 2017 Balance as of Account Investment August 31, 2017 Bank of Tampa Money Market $ 144,127 Bank of Tampa ICS Program: CoBiz Bank Money Market 199,060 ConnectOne Bank Money Market 245,167 The Park National Bank Money Market 74,913 Total General Fund Investments $ 663,267 Bank of Tampa ICS Infrastructure Repairs: CoBiz Bank Money Market $ 46,024 Mutual of Omaha Bank Money Market 182,525 Bank of Tampa ICS Road Reserve: Mutual of Omaha Bank Money Market 62,642 Total Reserve Fund Investments $ 291,191 US Bank Series 2014 Reserve First American Treasury Obligation Fund Class Z $ 141,726 US Bank Series 2014 Prepayment First American Treasury Obligation Fund Class Z 178 US Bank Series 2014 Revenue First American Treasury Obligation Fund Class Z 98,811 Total Debt Service Fund Investments $ 240,715

8 Summary A/R Ledger General Fund From 8/1/2017 Through 8/31/2017 Current Invoice Date Customer Name Invoice Number Balance 10/1/2016 Pasco County Tax Collector FY /31/2017 Bridgewater Community Association, Inc. PCSO , /31/2017 Bridgewater Community Association, Inc. PCSO Total General Fund 2,738.77

9 Summary A/R Ledger Debt Service Fund From 8/1/2017 Through 8/31/2017 Current Invoice Date Customer Name Invoice Number Balance 10/1/2016 Pasco County Tax Collector FY Total Debt Service Fund Report Balance 3,092.50

10 Aged Payables by Invoice Date Aging Date - 8/1/ General Fund From 8/1/2017 Through 8/31/2017 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Stantec Consulting Services, Inc 8/25/ Engineering Services 08/ Straley Robin Vericker 8/25/ Legal Services 07/ Total General Fund 1, Report Total 1,092.25

11 Notes to Unaudited Financial Statements August 31, 2017 Balance Sheet 1. Trust statement activity has been recorded through 8/31/ 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. Summary A/R Ledger Payment Terms 4. Payment terms for landowner assessments are (a) defined in the FY16-17 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.