Sandy Creek Community Development District

Transcription

1 Sandy Creek Community Development District Financial Statements (Unaudited) November 30, 2018 Prepared by: Rizzetta & Company, Inc. sandycreekcdd.org rizzetta.com

2 Balance Sheet As of 11/30/2018 (In Whole Numbers) General Fund Debt Service Fund Capital Projects Fund Total Governmental Funds General Fixed Assets Account Group General Long-Term Debt Account Group Assets Cash In Bank 7, , Investments 0 112,351 5, , Accounts Receivable 0 61, , Bond Prepayments Receivable Prepaid Expenses Deposits 1, , Due From Other Funds Amount Available in Debt Service ,321 Amount To Be Provided Debt Service ,024,679 Fixed Assets ,990,428 0 Total Assets 8, ,743 5, ,437 5,990,428 1,195,000 Liabilities Accounts Payable Accrued Expenses Payable Due To Other Funds Deferred Revenue 0 3, , Revenue Bonds Payable--Long Term ,195,000 Total Liabilities 623 3, , ,195,000 Fund Equity & Other Credits Beginning Fund Balance ,309 4, ,792 5,990,428 0 Net Change in Fund Balance 7,367 34, , Total Fund Equity & Other Credits 7, ,321 5, ,392 5,990,428 0 Total Liabilities & Fund Equity 8, ,743 5, ,437 5,990,428 1,195,000

3 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 11/30/2018 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Contributions From Private Sources Developer Contributions 93,225 23,306 13,930 (9,376) 85.05% Total Revenues 93,225 23,306 13,930 (9,376) 85.06% Expenditures Legislative Supervisor Fees 2, % Financial & Administrative District Management 15,000 2,500 2, % District Engineer 1, % Disclosure Report 1, % Trustees Fees 3,500 3,500 2, % Auditing Services 3, % Arbitrage Rebate Calculation % Public Officials Liability Insurance 2,500 2, , % Legal Advertising % Dues, Licenses & Fees % Miscellaneous Fees % Website Hosting, Maintenance, & 1, % Backup Legal Counsel District Counsel 6,000 1,000 1,063 (63) 82.28% Electric Utility Services Utility Services 2, % Street Lights 6,000 1, , % Stormwater Control Aquatic Maintenance 5, % Mitigation Area Monitoring & Maintenance 2, % Other Physical Environment General Liability & Property Insurance 4,000 4, , % Landscape Maintenance 24,000 4, , % Irrigation Maintenance 2, % Landscape Replacement Plants, 3, % Shrubs, Trees Contingency Miscellaneous Contingency 5, % Total Expenditures 93,225 23,400 6,563 16, % See Notes to Unaudited Financial Statements

4 Statement of Revenues and Expenditures General Fund From 10/1/2018 Through 11/30/2018 (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Excess Rev./Other Sources Over (Under) Expend./Other Uses 0 (94) 7,367 7, % Fund Balance-Beginning of Period Fund Balance-Unreserved Total Fund Balance-Beginning of Period % % Fund Balance-End of Period 0 (94) 7,944 8, % See Notes to Unaudited Financial Statements

5 Statement of Revenues and Expenditures Debt Service Fund From 10/1/2018 Through 11/30/2018 (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings % Special Assessments Prepayments 0 24,313 24, % Off Roll 62,781 61,392 (1,389) (2.21)% Total Revenues 62,781 86,117 23, % Expenditures Debt Service Interest 62,781 31,900 30, % Principal 0 20,000 (20,000) 0.00% Total Expenditures 62,781 51,900 10, % Excess of Revenue Over (Under) Expenditures 0 34,217 34, % Other Financing Sources (Uses) Interfund Transfer 0 (205) (205) 0.00% Exc. Of Rev./Other Sources Over Expend./Other Uses 0 34,013 34, % Fund Balance, Beginning of Period 0 136, , % Fund Balance, End of Period 0 170, , %

6 Statement of Revenues and Expenditures Capital Projects Fund From 10/1/2018 Through 11/30/2018 (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings % Total Revenues % Excess of Revenue Over (Under) Expenditures % Other Financing Sources (Uses) Interfund Transfer % Exc. Of Rev./Other Sources Over Expend./Other Uses % Fund Balance, Beginning of Period 0 4,906 4, % Fund Balance, End of Period 0 5,127 5, %

7 Sandy Creek CDD Investment Summary November 30, 2018 Balance as of Account Investment November 30, 2018 US Bank Series 2007B Reserve First American Treasury Obligation Fund Class Z $ 62,617 US Bank Series 2007B Revenue First American Treasury Obligation Fund Class Z 25,461 US Bank Series 2007B Prepayment First American Treasury Obligation Fund Class Z 24,273 Total Debt Service Fund Investments $ 112,351 US Bank Series 2007 Construction First American Treasury Obligation Fund Class Z $ 5,127 Total Capital Project Fund Investments $ 5,127

8 Summary A/R Ledger Debt Service Fund From 11/1/2018 Through 11/30/2018 Invoice Date Customer Name Invoice Number Current Balance 11/6/2018 SEDA Construction Company , /7/2018 Sandy Creek Investment Corp , Total Debt Service Fund 61, Report Balance 61,392.24

9 Aged Payables by Invoice Date Aging Date - 10/1/2018 From 11/1/2018 Through 11/30/2018 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Hopping Green & Sams 10/31/ General Legal Services 09/ Report Total

10 Notes to Unaudited Financial Statements November 30, 2018 Balance Sheet 1. Trust statement activity has been recorded through 11/30/ See EMMA (Electronic Municipal Market Access) at for Municipal Disclosures and Market Data. Summary A/R Ledger - Payment Terms 3. 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.