The Groves Community Development District

Transcription

1 The Groves Community Development District Financial Statements (Unaudited) February 28, 2019 Prepared by: Rizzetta & Company, Inc. thegrovescdd.org rizzetta.com

2 Balance Sheet As of 2/28/2019 Debt Service General Fund Reserve Fund Fund Total Governmental Funds General Fixed Asset Account Group General Long-Term Debt Account Group Assets Cash In Bank 155, , Investments 1,376, ,272 1,573, Investments - Reserves 0 1,819, ,819, Accounts Receivable 83, ,174 93, Prepaid Expenses Deposits 23, , Due From Other Funds Amount Available In Debt Service Funds ,446 Amount To Be Provided ,277,554 Fixed Assets ,464,998 0 Total Assets 1,639,116 1,819, ,446 3,665,828 15,464,998 1,485,000 Liabilities Accounts Payable 18, , Accrued Expenses Payable 3, , Deposits 3, , Due To Other Funds Revenue Bond Payable--Long Term ,485,000 Total Liabilities 24, , ,485,000 Fund Equity & Other Credits Beginning Fund Balance 1,027,740 1,592,680 85,209 2,705,629 15,464,998 0 Net Change in Fund Balance 586, , , , Total Fund Equity & Other Credits 1,614,500 1,819, ,446 3,641,212 15,464,998 0 Total Liabilities & Fund Equity 1,639,116 1,819, ,446 3,665,828 15,464,998 1,485,000

3 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 2/28/2019 Annual Percent Annual YTD YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 5,312 5, % Special Assessments Tax Roll 1,022,726 1,022,726 1,054,383 31,657 (3.09)% Other Miscellaneous Revenues Miscellaneous 0 0 8,159 8, % Total Revenues 1,022,726 1,022,726 1,067,854 45,128 (4.41)% Expenditures Legislative Supervisors Fees 14,000 5,833 4,800 1, % Financial & Administrative Administrative Services 8,600 3,583 3, % District Management 39,200 16,333 16, % District Engineer 15,000 6,250 4,735 1, % Disclosure Report 1,000 1,000 1, % Trustees Fees 3,000 3,000 6,850 (3,850) (128.33)% Tax Collector/Property Appraiser Fees % Financial & Revenue Collections 5,000 2,083 2, % Accounting Services 21,300 8,875 8, % Auditing Services 4, % Arbitrage Rebate Calculation % Assessment Roll 5,000 5,000 5, % Public Officials Liability Insurance 4,000 4,000 3, % Legal Advertising 1, % Bank Fees % Dues, Licenses & Fees % Music License/ Monthly Service 2,500 1, % Liquor License 1,350 1, , % Website Hosting, Maint, Backup (and ) 2, % Legal Counsel District Counsel 25,000 10,417 12,759 (2,343) 48.96% Law Enforcement Deputy/Florida Highway Patrol 5,000 2,083 2,520 (437) 49.60% Security Operations Security Monitoring Services 65,000 27,083 25,916 1, %

4 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 2/28/2019 Annual Percent Annual YTD YTD Actual YTD Variance Remaining Miscellaneous Operating Supplies 5,500 2,292 4,518 (2,226) 17.85% Security Camera Maintenance 51,000 21,250 25,313 (4,063) 50.36% Electric Utility Services Utility Services 32,000 13,333 11,185 2, % Utility-Recreation Facilities 32,000 13,333 14,257 (924) 55.44% Street Lights 31,000 12,917 10,713 2, % Garbage/Solid Waste Control Services Garbage-Recreation Facility % Solid Waste Assessment 2,750 1, , % Water-Sewer Combination Services Utility Services 13,250 5,521 8,165 (2,644) 38.38% Stormwater Control Lake/Pond Bank Maintenance 15,000 6,250 7,130 (880) 52.46% Aquatic Maintenance 18,000 7, , % Stormwater Assessment 3,000 1,250 5,359 (4,109) (78.64)% Aquatic Plant Replacement 5,000 2, , % Miscellaneous Expense 2,500 1, , % Other Physical Environment General Liability/Property/Casualty Insurance 26,000 26,000 21,889 4, % Entry & Walls Maintenance 2, % Landscape Maintenance 200,000 83,333 73,391 9, % Irrigation Repair & Maintenance 10,000 4,167 5,188 (1,022) 48.11% Pump & Well Maintenance 2,500 1, % Holiday Decorations 5,000 5,000 2,784 2, % Landscape Replacement Plants, Shrubs, Trees 25,000 10, , % Road & Street Facilities Gate Phone/Gate Repairs 6,500 2, , % Street Light Decorative Light Maintenance 2,500 1, , % Street Sign Repair & Replacement Parking Lot Repair & Maintenance 5,000 2, , % 1, % Sidewalk Repair & Maintenance 14,000 5,833 61,548 (55,715) (339.62)% Roadway Repair & Maintenance 5,000 2, , %

5 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 2/28/2019 Annual Percent Annual YTD YTD Actual YTD Variance Remaining Parks & Recreation Management Contract 179,426 74,761 63,415 11, % Clubhouse Maintenance & Repair 35,000 14,583 13,107 1, % Telephone, Fax, Internet 2, % Vehicle Maintenance 1, % Clubhouse Office Supplies 7,900 3,292 1,940 1, % Lighting Replacement 1, % Clubhouse Janitorial Supplies 8,000 3,333 2, % Pool/Water Park/Fountain Maintenance 5,000 2,083 15,455 (13,372) (209.10)% Athletic/Park Court/Field Repairs 5,500 2, , % Pool Service Contract 12,000 5, , % Clubhouse Furniture Repair/ Replacement 2,500 1,042 1,420 (379) 43.18% Pool Furniture Replacement 2,500 1, , % Clubhouse Miscellaneous 5,000 2,083 3,028 (945) 39.43% Expense Dog Park Maintenance 1, % Replace/Removal of Dead 1, % Hedges/Dog Park Boardwalk & Bridge Maintenance 20,000 8, , % Crosswalk and Lane Painting 2, % New Gate Construction for Back 2, % Entrance Contingency Capital Outlay 26,625 11, , % Reclaimed Water - WUP Commitment 15,000 6,250 9,587 (3,337) 36.08% Miscellaneous Contingency 26,625 11,094 15,748 (4,654) 40.85% Total Expenditures 1,103, , ,094 3, % Excess of Revenues Over (Under) Expenditures (81,000) 537, ,760 48, % Other Financing Sources (Uses) Carry Forward Fund Balance 81, % Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 537, ,760 48, %

6 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 2/28/2019 Annual Percent Annual YTD YTD Actual YTD Variance Remaining Fund Balance, Beginning of Period 0 0 1,027,740 1,027, % Fund Balance, End of Period 0 537,873 1,614,500 1,076, %

7 Statement of Revenues and Expenditures Reserve Fund From 10/1/2018 Through 2/28/2019 Annual Current Period Actual to Actual Variance Percentage Remaining Revenues Interest Earnings Interest Earnings 0 1,586 1, % Special Assessments Tax Roll 225, , % Total Revenues 225, ,586 1, % Expenditures Contingency Capital Reserve 225, , % Total Expenditures 225, , % Excess of Revenues Over (Under) Expenditures 0 226, , % Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 226, , % Fund Balance, Beginning of Period 0 1,592,680 1,592, % Fund Balance, End of Period 0 1,819,266 1,819, %

8 Statement of Revenues and Expenditures Debt Service Fund - Series From 10/1/2018 Through 2/28/2019 Annual Current Period Actual to Actual Variance Percentage Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 158, ,107 4, % Total Revenues 158, ,074 4, % Expenditures Debt Service Interest 83,096 40,838 42, % Principal 75, , % Total Expenditures 158,096 40, , % Excess of Revenues Over (Under) Expenditures 0 122, , % Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 122, , % Fund Balance, Beginning of Period 0 85,209 85, % Fund Balance, End of Period 0 207, , %

9 The Groves CDD Investment Summary February 28, 2019 Balance as of Account Investment February 28, 2019 US Bank Custody Operating Surplus Cash Account $ 221,469 The Bank of Tampa Money Market 220,459 The Bank of Tampa ICS: City National Bank of Florida Money Market 25 Enterpise Bank and Trust Company Money Market 245,283 First National Bank of Omaha Money Market 179,488 Flushing Bank Money Market 245,296 Mutual of Omaha Bank Money Market 18,864 United Bank Money Market 245,317 Total General Fund Investments $ 1,376,201 US Bank Custody Reserve Cash Account $ 1,592,814 The Bank of Tampa ICS Capital Reserve: Enterpise Bank and Trust Company Money Market 1 Mutual of Omaha Bank Money Market 226,451 Total Reserve Fund Investments $ 1,819,266 US Bank Series 2007 Prepayment First American Treasury Obligation Fund Class Z $ 2 US Bank Series 2007 Reserve First American Treasury Obligation Fund Class Z 1 US Bank Series 2007 Revenue First American Treasury Obligation Fund Class Z 156,182 US Bank Series 2007 Interest First American Treasury Obligation Fund Class Z 41,087 Total Debt Service Fund Investments $ 197,272

10 Summary A/R Ledger General Fund From 2/1/2019 Through 2/28/2019 Invoice Date Customer Name Invoice Number Current Balance 10/1/2018 Pasco County Tax Collector FY , /31/2018 Vesh Grill Vesh-Copies-Dec /31/2018 Vesh Grill Vesh-Elec-Dec /31/2019 The Groves Golf & Country Club HOA, Inc. HOA-Copies Jan /31/2019 The Groves Golf & Country Club HOA, Inc. HOA-Elec-Jan /31/2019 Vesh Grill Vesh-Copies-Jan /31/2019 Vesh Grill Vesh-Elec-Jan /28/2019 The Groves Golf & Country Club HOA, Inc. HOA-BH-Feb /28/2019 The Groves Golf & Country Club HOA, Inc. HOA-BH-Jan /28/2019 The Groves Golf & Country Club HOA, Inc. HOA-Copies Feb /28/2019 The Groves Golf & Country Club HOA, Inc. HOA-Elec-Feb /28/2019 Vesh Grill Vesh-Copies-Feb /28/2019 Vesh Grill Vesh-Elec-Feb Total General Fund 83,671.25

11 Summary A/R Ledger Debt Service Fund - Series 2007 From 2/1/2019 Through 2/28/2019 Invoice Date Customer Name Invoice Number Current Balance 10/1/2018 Pasco County Tax Collector FY , Total Debt Service Fund - Series , Report Balance 93,845.63

12 Aged Payables by Invoice Date Aging Date - 2/1/ General Fund From 2/1/2019 Through 2/28/2019 Current Vendor Name Invoice Date Invoice Number Invoice Description Balance Landmark Engineering & Surveying Corp. Clean Sweep Supply Co., Inc. 2/14/ Engineering Services 02/ /19/ Janitorial Supplies 02/ The Lake Doctors, Inc. 2/20/ Fountain Repair & Parts 02/ Universal Protection 2/21/ Security Officers 2, Service LLC 02/08/19-02/21/19 Pasco County 2/21/ Melogold Circle Hydrant 01/ Rizzetta Amenity Services, Inc. 2/22/2019 INV Bi-Weekly Payroll-Insurance Reim 02/19 4, Bright House Networks 2/24/ Melogold Circle-Front Gates 03/ Bright House Networks 2/24/ Melogold - Maint Shed 03/ Cornerstone Solutions 2/26/ Engineering Plans for Sign Project 3, Group 01/19 Great Britain Tile, Inc. 2/26/ Cafe Carpert & Tile Installation 02/19 3, Sedgwick Valuation Services 2/26/ Insurance Appraisal 02/ Straley Robin Vericker 2/26/ Legal Services 02/19 1, Pasco County 2/27/ Melogold Reclaimed Water 1, /19 Yellowstone Landscape 2/28/2019 TM 4796 Irrigation Repairs 02/ Yellowstone Landscape 2/28/2019 TM 4823 Irrigation Repairs 02/ Yellowstone Landscape 2/28/2019 TM 4882 Irrigation Repairs 02/ Steve Gaskins Contracting, Inc. 3/5/ Off Duty Deputy & Scheduler Fee 02/ Total General Fund 18, Report Total 18,465.95

13 Notes to Unaudited Financial Statements February 28, 2019 Balance Sheet 1. Trust statement activity has been recorded through 02/28/ 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 FY18-19 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.