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

Transcription

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

2 Balance Sheet As of 10/31/2013 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 43, , Cash On Hand Investments 249, , , Investments - Reserves 0 151, , Accounts Receivable 504, , , Interest & Dividends Receivable Prepaid Expenses Due From Other Funds Amount Available-Debt Service ,018 Amount To Be Provided-Debt Service ,159,982 Fixed Assets ,772,756 0 Total Assets 798, , ,018 1,330,110 6,772,756 2,540,000 Liabilities Accounts Payable 8, , Accrued Expenses Payable 3, , Other Current Liabilities Due To Other Funds Revenue Bonds Payable-Long-Term ,540,000 Total Liabilities 11, , ,540,000 Fund Equity & Other Credits Beginning Fund Balance 347, , , ,617 6,772,756 0 Net Change in Fund Balance 438, , , Total Fund Equity & Other Credits 786, , ,018 1,318,384 6,772,756 0 Total Liabilities & Fund Equity 798, , ,018 1,330,110 6,772,756 2,540,000

3 Statement of Revenues and Expenditures General Fund Annual Percent Annual YTD YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 500, , ,965 (0) 0.00% Miscellaneous Revenue Event Rentals % Miscellaneous Revenue (20) 98.43% Total Revenues 502, , , % Expenditures Legislative Supervisor Fees 17,000 1,417 2,000 (583) 88.23% Financial & Administrative District Management 46,890 3,908 3, % District Engineer 6, (443) 84.84% Trustees Fees 4,000 4,000 3, % Auditing Services 3, % Arbitrage Rebate Calculation % Public Officials Liability Insurance 3,300 3,300 2, % Legal Advertising 2, % Bank Fees % Dues, Licenses & Fees % Miscellaneous Mailings Newsletter 1, % Legal Counsel District Counsel 16,000 1, % Electric Utility Services Utility Services 27,500 2,292 2,751 (459) 89.99% Utility-Recreational Facilities 8, % Gas Utility Services Utility Services 4, % Water-Sewer Combination Services Utility Services 2, % Stormwater Control Fountain Service Repairs & Maintenance (261) 48.13% Lake/Pond Bank Maintenance 5, ,900 (3,483) 22.00% Aquatic Maintenance Contract 21,500 1,792 1,869 (77) 91.30% Aquatic Plant Replacement/Removal 2, %

4 Statement of Revenues and Expenditures General Fund Annual Percent Annual YTD YTD Actual YTD Variance Remaining Stormwater System Maintenance 10, % Other Physical Environment Employee-Salaries 19,000 1,583 1,620 (37) 91.47% Employee-P/R Taxes 1, (88) 85.81% Employee-Workers Comp 1, % Employee-ADP Fees 2, % Property Insurance 13,000 13,000 19,205 (6,205) (47.73)% General Liability Insurance 4,200 4, , % Entry & Walls Maintenance 1, % Landscape Maintenance 179,400 14,950 14, % Irrigation Maintenance 7, % Landscape Replacement Plants, Shrubs, Trees 5, % Well Maintenance % Tree Trimming Services 2,000 1,220 1, % Holiday Decorations 2, % Landscape Mulch 18,000 1, , % Special Events 1, % Parks & Recreation Computer Support, Maintenance & Repair % Facility Supplies % Office Supplies % Pool Service Contract 4, % Pool Repairs 2, % Facility A/C & Heating Maintenance & Repair % Telephone, Fax, Internet 3, (347) 81.75% Maintenance & Repairs-Interior 6, % Clubhouse Maintenance & Repair-Sidewalk/Exterior Clubhouse Clubhouse - Facility Janitorial Service Tennis Court Maintenance & Supplies Security System Monitoring & Maintenance 4, % 5, % 1, % % Furniture Repair/Replacement % Contingency Miscellaneous Contingency 18,000 1, , %

5 Statement of Revenues and Expenditures General Fund Annual Percent Annual YTD YTD Actual YTD Variance Remaining Capital Outlay 40,000 3, , % Total Expenditures 532,890 69,128 62,400 6, % Excess of Revenues Over (Under) Expenditures (30,875) 431, ,684 6,759 1,520.83% Other Financing Sources (Uses) Carry Forward Fund Balance Prior Year 30, % Total Other Financing Sources (Uses) 30, % Fund Balance, Beginning of Period , , % Fund Balance, End of Period 0 431, , , %

6 Statement of Revenues and Expenditures Reserve Fund Annual Current Period Actual to Actual Variance Percent Annual Remaining Revenues Interest Earnings Interest Earnings 0 14 (14) 0.00% Total Revenues % Excess of Revenues Over (Under) Expenditures 0 14 (14) 0.00% Fund Balance, End of Period 0 151, , %

7 Statement of Revenues and Expenditures Debt Service Fund Annual Current Period Actual to Actual Variance Percent Annual Remaining Revenues Special Assessments Tax Roll 208, , % Total Revenues 208, , % Expenditures Debt Service Interest 103,068 0 (103,068) (100.00)% Principal 105,000 0 (105,000) (100.00)% Total Expenditures 208, , % Excess of Revenues Over (Under) Expenditures 0 208,068 (208,068) 0.00% Fund Balance, Beginning of Period 0 171, , % Fund Balance, End of Period 0 380, , %

8 Investment Summary October 31, 2013 Balance as of Account Investment October 31, 2013 State Board of Administration Local Government Investment Pool $ 2,465 State Board of Administration Local Government Investment Pool B 659 SunTrust Bank Money Market Account 246,579 Total General Fund Investments $ 249,703 Regions Bank Capital Reserve Money Market Account $ 151,821 Total Reserve Fund Investments $ 151,821 US Bank S2012A-1 Reserve First American Treasury Obligation Fund Class Z $ 78,157 US Bank S2012A-1 Excess Revenue First American Treasury Obligation Fund Class Z 60,075 US Bank S2012A-1 Cost of Issuance First American Treasury Obligation Fund Class Z 6,016 US Bank S2012A-2 Reserve First American Treasury Obligation Fund Class Z 25,878 Total Debt Service Fund Investments $ 170,126

9 Summary A/R Ledger Invoice Date Customer Name Invoice Number Current Balance 9/30/2011 Manatee CountyTax Collector FY , /1/2013 Manatee CountyTax Collector FY , Report Balance 714,548.21

10 Summary A/P Ledger General Fund Vendor Name Invoice Date Invoice Number Invoice Description Current Balanc Aquagenix 10/19/ Diffuser Stones AT&T Mobility 10/29/ Field Manager Monthly Telephone Service 10/ /13 Beth Bond 10/29/2013 BB Board of Supervisors Meeting 10/29/ Bradenton Herald 10/6/2013 T Acct # Legal Advertising 10/ Complete Electrical Services, Inc. 10/31/ Service Call Daniel Powers 10/29/2013 DP Board of Supervisors Meeting 10/29/ Department of Economic Opportunity 10/1/ Special District Fee FY 13/ Florida Lawnpros, Inc 10/30/ Landscape Misc 1, John Schmidt 10/29/2013 JS Board of Supervisors Meeting 10/29/ Joseph Mojica 10/29/2013 JM Board of Supervisors Meeting 10/29/ LLS Tax Solutions Inc 10/15/ Arbitrage Rebate Calculation Series 2000 A&B PE 09/28/ Manatee County Utilities 10/22/ / Tara Preserve Lane 10/ Michael Dyer 10/29/2013 MD Board of Supervisors Meeting 10/29/ Schappacher Engineering LLC 11/8/2013 S13843 Engineering Services 10/ U.S. Bank 9/25/ Trustee Fees 09/01/13-08/31/14 3, Total General Fund 8, Report Balance 8,479.11

11 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. 3. $151,821 of the General Fund Balance is reserved for future Capital Expenditures as appropriated from the General Fund and is reflected in the Reserve Fund. Summary A/R Ledger 4. 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. 5. Payments for Invoice #FY13-14 totaling $9, were received in November 2013.