Meadow Pointe III Community Development District. Financial Statements (Unaudited) May 31, 2016

Transcription

1 Meadow Pointe III Community Development District Financial Statements (Unaudited) May 31, 2016 Prepared by Rizzetta & Company, Inc. District Manager

2 Balance Sheet As of 5/31/2016 (In Whole Numbers) Total Governmental General Fund Reserve Fund Debt Service Fund Funds General Fixed Assets Account Group General Long-Term Debt Account Group Assets Cash 45, , Investments 1,221, ,370 1,807, Investments - Reserves 0 806, , Accounts Receivable 43, ,698 73, Prepaid Expenses 2, , Deposits 19, , Due From Other Funds Amount Available in Debt Service ,068 Amount To be Provided Debt Service ,774,932 Fixed Assets ,495,177 0 Total Assets 1,331, , ,068 2,753,962 10,495,177 11,390,000 Liabilities Accounts Payable 31, , Accrued Expenses Payable 1, , Retainage Payable Due to Other Funds Revenue Bonds Payable-Long-Term ,390,000 Total Liabilities 33, , ,390,000 Fund Equity & Other Credits Beginning Fund Balance 898, , ,068 2,374,177 10,495,177 0 Net Change in Fund Balance 400,556 (67,782) 14, , Total Fund Equity & Other Credits 1,298, , ,068 2,720,951 10,495,177 0 Total Liabities & Fund Equity 1,331, , ,068 2,753,962 10,495,177 11,390,000

3 Statement of Revenues and General Fund From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 1,071 1, % Special Assessments Tax Roll 1,203,255 1,203,255 1,208,091 4,836 (0.40)% Other Miscellaneous Revenues Miscellaneous 10,000 6,667 5,707 (959) 42.92% Cell Tower Lease 28,262 18,841 18,841 (0) 33.33% Taxes Reimbursement 0 0 4,976 4, % Total Revenues 1,241,517 1,228,763 1,238,686 9, % Legislative Supervisor Fees 14,000 9,333 7,400 1, % Financial & Administrative Administrative Services 5,400 3,600 3, % District Management 31,754 21,169 21, % District Engineer 20,000 13,333 10,900 2, % Disclosure Report 3,100 2,067 3,100 (1,033) 0.00% Trustees Fees 9,000 9,000 7,543 1, % Property Appraiser Fees % Financial Consulting Services 10,000 8,333 8, % Accounting Services 20,000 13,333 13, % Auditing Services 3,800 3,800 3, % Arbitrage Rebate Calculation 1,950 1,300 1,500 (200) 23.07% Public Officials Liability Insurance 4,750 4,750 1,935 2, % Legal Advertising (247) 2.48% Dues, Licenses & Fees % Website Maintenance 1,900 1, , % Legal Counsel District Counsel 18,000 12,000 11, % Law Enforcement Contracted Deputy Services 90,275 60,183 60,475 (291) 33.01% Electric Utility Services Utility Services 31,000 20,667 21,016 (349) 32.20% Street Lighting 92,000 61,333 59,781 1, % Garbage/Solid Waste Control Garbage - Residential 166, , , % Garbage - Recreation Facility % Solid Waste Assessment Recreation Facility (310) (1.16)% Water-Sewer Combination Services Utility - Recreation Facility 3,000 2,000 1, %

4 Statement of Revenues and General Fund From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Stormwater Control Mitigation Area Monitoring & Maintenance 4,705 3,137 2, % Aquatic Plant Replacement 10,000 6,667 3,040 3, % Aquatic Contract 39,700 26,467 41,840 (15,373) (5.39)% Pasco County Stormwater Assessment 2,828 1,885 2,957 (1,072) (4.57)% Stormwater System Maintenance 7,000 4, , % Other Physical Environment Field Operations 8,700 5,800 5, % Property Insurance 15,302 15,302 12,767 2, % Entry & Walls Maintenance 5,000 3, , % Landscape Maintenance 166, , ,687 (14,927) 24.34% Irrigation Repairs & Maintenance 26,000 17,333 28,185 (10,852) (8.40)% Landscape Replacement Plants, Shrubs, Trees 25,000 16,667 5,444 11, % Mulch Installation 58,500 39,000 22,800 16, % Fertilizer Applications 52,920 35,280 28,500 6, % Tree Trimming Services 5,000 3, , % Fire Ant Treatment 14,000 9,333 9, % Miscellaneous Expenses 25,000 16,667 14,147 2, % Road & Street Facilities Gate Maintenance 20,000 13,333 12,280 1, % Gate Phone 7,800 5,200 4, % Sidewalk Repair & Maintenance 12,000 8, , % Street Sign Repairs 1, % Roadway Repair & Maintenance 5,000 3, , % Street Light/Decorative Light Maintenance 2,000 1, , % Parks & Recreation Management Contract 196, , ,368 10, % Pool Repairs 5,000 3,333 2, % Pool/Water Park/Fountain Maintenance 5,000 3,333 6,291 (2,957) (25.81)% Pest Control ,405 (2,038) (337.27)% Facility Maintenance 8,000 5,333 11,753 (6,419) (46.91)% Playground Equipment/Maintenance 1,500 1, % Operating Supplies 4,000 2,667 2, % Dog Waste Station Supplies 1,500 1, % Vehicle Maintenance 2,000 1,333 2,038 (705) (1.91)% Miscellaneous Expenses 5,000 3,333 2,257 1, % Security System 2,000 1,333 1, %

5 Statement of Revenues and General Fund From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Athletic/Park Court/Field Repairs 1,500 1, % Boardwalk & Bridge 1, % Maintenance Computer Support/Maintenance/Repairs Fitness Equipment Maintenance/Repairs 1, ,000 (333) 0.00% 2,000 1, , % Special Events Special Events 7,500 5, , % Contingency Capital Outlay 100,000 66,667 5,895 60, % Miscellaneous Contingency 10,000 6,667 7,450 (783) 25.50% Total 1,397, , , , % Excess of Revenues Over (Under) (155,905) 284, , , % Other Financing Sources (Uses) Carryforward Fund Balance 155, ,905 0 (155,905) % Exc. of Rev./Other Sources Over (Under) Expend./Other Uses 0 440, ,556 (39,563) 0.00% Fund Balance, Beginning of Period , , % Fund Balance, End of Period 0 440,119 1,298, , %

6 Statement of Revenues and Reserve Fund From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Current Period Actual Budget to Actual Variance Budget Percentage Remaining Revenues Interest Earnings Interest Earnings 0 1,282 1, % Special Assessments Tax Roll 176, , % Total Revenues 176, ,404 1, % Contingency Asset Replacement Reserve 58,561 1,189 57, % Road Reserves 117, ,997 (126,436) (107.54)% Total 176, ,186 (69,064) (39.21)% Excess of Revenues Over (Under) 0 (67,782) (67,782) 0.00% Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses 0 (67,782) (67,782) 0.00% Fund Balance, Beginning of Period 0 874, , % Fund Balance, End of Period 0 806, , %

7 Statement of Revenues and Debt Service Fund - Series 2013 & 2015 From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Current Period Actual Budget to Actual Variance Budget Percentage Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 588, , % Total Revenues 588, , % Debt Service Interest 303, ,350 20, % Principal 285, ,000 (5,000) (1.75)% Total 588, ,350 15, % Excess of Revenues Over (Under) 0 16,316 16, % Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses 0 16,316 16, % Fund Balance, Beginning of Period 0 442, , % Fund Balance, End of Period 0 458, , %

8 Statement of Revenues and Debt Service Fund - Series 2007A From 10/1/2015 Through 5/31/2016 (In Whole Numbers) Annual Budget Current Period Actual Budget to Actual Variance Budget Percentage Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 353, , % Total Revenues 353, , % Debt Service Interest 198, ,150 (2,527) (1.27)% Principal 155, , % Total 353, ,150 (2,527) (0.71)% Excess of Revenues Over (Under) 0 (2,316) (2,316) 0.00% Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses 0 (2,316) (2,316) 0.00% Fund Balance, Beginning of Period 0 158, , % Fund Balance, End of Period 0 156, , %

9 Meadow Pointe III CDD Investment Summary May 31, 2016 Balance as of Account Investment May 31, 2016 The Bank of Tampa Money Market Account $ 100,414 The Bank of Tampa ICS Program: Bank of China, New York, NY Money Market Account 245,042 EagleBank Money Market Account 245,042 First Tennessee Bank, NA Money Market Account 77,698 Morton Community Bank Money Market Account 1 Pinnacle Bank Money Market Account 245,040 Stonegate Bank Money Market Account 63,700 The Park National Bank Money Market Account 13 Western Alliance Bank Money Market Account 245,041 Total General Fund Investments $ 1,221,991 The Bank of Tampa ICS Program: Road Reserve First Tennessee Bank, NA Money Market Account $ 31,779 Iberiabank Money Market Account 82,219 Mutual of Omaha Bank Money Market Account 245,042 Stonegate Bank Money Market Account 181,337 The Park National Bank Money Market Account 4 United Bank Money Market Account 1 Subtotal 540,382 Asset Replacement First Tennessee Bank, NA Money Market Account 135,531 Iberiabank Money Market Account 131,070 Stonegate Bank Money Market Account 1 The Park National Bank Money Market Account 14 Subtotal 266,616 Total Reserve Fund Investments $ 806,998 US Bank Series 2007A Revenue First American Treasury Obligation Fund Class Z $ 145,530 US Bank Series 2013 Revenue First American Treasury Obligation Fund Class Z 88,444 US Bank Series 2013 Reserve First American Treasury Obligation Fund Class Z 179,446 US Bank Series 2013 Prepayment First American Treasury Obligation Fund Class Z 49 US Bank Series 2015A1 Reserve US Bank Money Market 5 94,180 US Bank Series 2015A Revenue US Bank Money Market 5 59,131 US Bank Series 2015A2 Reserve US Bank Money Market 5 18,590 Total Debt Service Fund Investments $ 585,370

10 Summary A/R Ledger General Fund From 5/1/2016 Through 5/31/2016 Invoice Date Customer Name Invoice Number Current Balance 10/1/2015 Pasco County Tax Collector FY , Total General Fund 43,491.67

11 Summary A/R Ledger Debt Service Fund - Series 2013 & 2015 From 5/1/2016 Through 5/31/2016 Invoice Date Customer Name Invoice Number Current Balance 10/1/2015 Pasco County Tax Collector FY , Total Debt Service Fund - Series 2013 & ,547.93

12 Summary A/R Ledger Debt Service Fund - Series 2007A From 5/1/2016 Through 5/31/2016 Invoice Date Customer Name Invoice Number Current Balance 10/1/2015 Pasco County Tax Collector FY , Total Debt Service Fund - Series 2007A 11, Report Balance 73,189.32

13 Summary A/P Ledger General Fund From 5/1/2016 Through 5/31/2016 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance CINTAS Corporation Loc /27/ Supplies 05/ DCSI Inc. 3/20/ Gate CCTV Full Ext Warranty/All Equip 03/16 DCSI Inc. 4/13/ Clubhouse Camera Repairs Equip & Labor 04/16 DCSI Inc. 4/20/ Gate CCTV Full Ext Warranty/All Equip 04/16 DCSI Inc. 5/20/ Gate CCTV Full Ext Warranty/All Equip 05/ Florida Department of Revenue 6/3/ /16 Sales & Use Tax 05/ Florida Playstructures and Water Features, Inc. 5/25/ Start Button Service Call 05/ Kymberly Boswell 5/18/2016 KB Board Of Supervisors Meeting 05/18/ Landscape Maintenance Professionals, Inc. 5/31/ Irrigation Repairs/Line Leak 05/ LLS Tax Solutions Inc. 4/14/ Rebate Arbitrage Series 2013 PE 03/27/16 Michael J Hall 5/18/2016 MH Board Of Supervisors Meeting 05/18/16 Pasco County Utilities 5/27/ /16 # Meadow Pointe Blvd 05/ Prager & Co., LLC 5/24/ Amortization Schedule Series Progressive Waste Solutions of 5/31/ Waste Disposal Services 05/16 13, Florida, Inc. Southern Automated Access Svcs 5/23/ Install New Door King Circuit Board - Sheringham 1, Stantec Consulting Services Inc. 5/27/ Engineering Services PE 05/ Straley Robin Vericker 5/19/ General Matters 05/ Suncoast Pool Service 4/11/ Pool Chemicals/Clean & Svc/Check Pumps/Filters 04/16 1, TECO 6/1/ /16 Summary Bill 05/16 8, Times Publishing Company 5/27/ Legal Advertising Acct # / William Galetta 5/18/2016 WG Board Of Supervisors Meeting /18/16 Withlacoochee River Electric 5/23/ /16 Street Lights 05/16 1, Total General Fund 31, Report Balance 31,333.33

14 Notes to Unaudited Financial Statements May 31, 2016 Balance Sheet 1. Trust statement activity has been recorded through 05/31/ 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 FY15-16 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.