Bridgewater of Wesley Chapel Community Development District. Financial Statements (Unaudited) April 30, 2017

Transcription

1 Bridgewater of Wesley Chapel Community Development District Financial Statements (Unaudited) April 30, 2017 Prepared by Rizzetta & Company, Inc. District Manager

2 Balance Sheet As of 4/30/2017 (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 125, , Investments 762, ,370 1,261, Investments - Reserves 0 290, , Accounts Receivable 15, ,342 23, Prepaid Expenses Deposits Due From Other Funds Amount Available in Debt Service ,712 Amount To Be Provided For Debt Service ,238,288 Fixed Assets ,753,025 0 Total Assets 905, , ,712 1,702,447 5,753,025 4,745,000 Liabilities Accounts Payable 5, , Accrued Expenses Payable 5, , Due To Other Funds Revenue Bonds Payable--Long Term ,745,000 Total Liabilities 11, , ,745,000 Fund Equity & Other Credits Beginning Fund Balance 615, , ,068 1,094,109 5,753,025 0 Net Change in Fund Balance 277,685 55, , , Total Fund Equity & Other Credits 893, , ,712 1,690,731 5,753,025 0 Total Liabilities & Fund Equity 905, , ,712 1,702,447 5,753,025 4,745,000

3 Statement of Revenues and General Fund From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 499, , ,404 6,796 (1.36)% Total Revenues 499, , ,138 7,530 (1.51)% Legislative Supervisor Fees 12,000 7,000 6, % Financial & Administrative Administrative Services 5,400 3,150 3, % District Management 25,036 14,604 14, % District Engineer 10,000 5,833 4,660 1, % Disclosure Report 1, % Trustees Fees 3,750 3,750 3,771 (21) (0.56)% Tax Collector/Property Appraiser (150) 0.00% Fees Financial Consulting Services 10,000 7,917 7, % Agenda Books (86) 0.00% Accounting Services 14,000 8,167 8, % Auditing Services 5,000 5,000 4, % Arbitrage Rebate Calculation % Rentals & Leases % Public Officials Liability 2,600 2,600 2, % Insurance Legal Advertising 1, % Dues, Licenses & Fees % Website Fees & Maintenance 1, (117) 30.00% Legal Counsel District Counsel 12,000 7,000 5,661 1, % Law Enforcement Deputy 27,500 16,042 8,900 7, % Electric Utility Services Utility Services 4,500 2,625 2,631 (6) 41.52% Street Lights 31,352 18,289 16,856 1, % Stormwater Control Fountain Service Repairs & 1, % Maintenance Aquatic Maintenance 25,750 15,021 16,895 (1,874) 34.38% Midge Fly Treatment 25,000 14, , % Lake/Pond Bank Maintenance 40,000 23, , % Aquatic Plant Replacement 8,000 4, , %

4 Statement of Revenues and General Fund From 10/1/2016 Through 4/30/2017 (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 3,083 3, % Property/Casualty/GL Insurance 3,800 3,800 3, % Entry & Walls Maintenance 5,000 2, , % Landscape Maintenance 102,000 59,500 62,016 (2,516) 39.20% Irrigation Repairs/Maintenance 5,000 2,917 4,168 (1,251) 16.64% Landscape Replacement Plants, 25,000 14,583 17,264 (2,680) 30.94% Shrubs, Trees Well Maintenance 2,000 1, , % Landscape - Mulch 26,010 15,173 14,000 1, % Landscape 6,000 3,500 3, % Miscellaneous-Inspections Fire Ant Treatment 4,000 2, , % Tree Trimming Services 2,500 1, , % Road & Street Facilities Roadway Repair & Maintenance 5,000 2,917 1,746 1, % Sidewalk Repair & Maintenance 10,000 5,833 5, % Street Sign Repair & Replacement 1, ,050 (175) 30.00% Street Light/Decorative Light Maintenance 1, % Contingency Miscellaneous Contingency 25,000 14,583 4,106 10, % Total 499, , ,453 70, % Excess of Revenues Over (Under) 0 199, ,685 77, % Excess Of Rev./Other Sources Over (Under) Expend./Other Uses 0 199, ,685 77, % Fund Balance, Beginning of Period , , % Fund Balance, End of Period 0 199, , , %

5 Statement of Revenues and Reserve Fund From 10/1/2016 Through 4/30/2017 (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 55,294 55, % 0 55,294 55, % Fund Balance, Beginning of Period 0 235, , % Fund Balance, End of Period 0 290, , %

6 Statement of Revenues and Debt Service Fund From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Tax Roll 354, , % Total Revenues 354, , % Debt Service Interest 179,315 91,341 87, % Principal 175, , % Total 354,315 91, , % Excess of Revenues Over (Under) Exc. Of Rev./Other Sources Over/(Under) Expend./Other Uses 0 263, , % 0 263, , % Fund Balance, Beginning of Period 0 243, , % Fund Balance, End of Period 0 506, , %

7 Bridgewater of Wesley Chapel CDD Investment Summary April 30, 2017 Balance as of Account Investment April 30, 2017 Bank of Tampa Money Market $ 243,972 Bank of Tampa ICS Program: Banco Popular North America Money Market 3 Bank of North Carolina Money Market 245,038 Chemung Canal Trust Company Money Market 3 Customers Bank Money Market 28,113 United Bank Money Market 245,037 Total General Fund Investments $ 762,166 Bank of Tampa ICS Infrastructure Repairs: Customers Bank Money Market $ 45,620 Mutual of Omaha Bank Money Market 2 United Bank Money Market 182,510 Bank of Tampa ICS Road Reserve: Mutual of Omaha Bank Money Market 1 United Bank Money Market 62,527 Total Reserve Fund Investments $ 290,660 US Bank Series 2014 Reserve First American Treasury Obligation Fund Class Z $ 141,337 US Bank Series 2014 Prepayment First American Treasury Obligation Fund Class Z 177 US Bank Series 2014 Revenue First American Treasury Obligation Fund Class Z 357,856 Total Debt Service Fund Investments $ 499,370

8 Summary A/R Ledger General Fund From 4/1/2017 Through 4/30/2017 Current Invoice Date Customer Name Invoice Number Balance 10/1/2016 Pasco County Tax Collector FY , /31/2017 Bridgewater Community Association, Inc. BWC , /31/2017 Bridgewater Community Association, Inc. PCSO , /30/2017 Bridgewater Community Association, Inc. PCSO , Total General Fund 15,701.83

9 Summary A/R Ledger Debt Service Fund From 4/1/2017 Through 4/30/2017 Current Invoice Date Customer Name Invoice Number Balance 10/1/2016 Pasco County Tax Collector FY , Total Debt Service Fund 7, Report Balance 23,043.48

10 Aged Payables by Invoice Date Aging Date - 4/1/ General Fund From 4/1/2017 Through 4/30/2017 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Pasco County Property Appraiser Stantec Consulting Services, Inc Landscape Maintenance Professionals, Inc. 4/13/2017 Annual Fee 17/18 Non-Ad Valorem Assessment Annual Fee 17/18 4/24/ Engineering Services 04/ /24/ FIll in Wax Myrtle Hedge Carr Riggs & Ingram 4/27/ rd Progress Billing- Audit of Financial Statements 09/30/16 Landscape Maintenance Professionals, Inc. 4/30/ Bahia, Ornamental & Palm Fertilization 04/17 2, , Straley Robin Vericker 5/1/ Legal Services 04/17 1, Total General Fund 5, Report Total 5,984.90

11 Notes to Unaudited Financial Statements April 30, 2017 Balance Sheet 1. Trust statement activity has been recorded through 4/30/ 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. 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.