Gateway Services Community Development District

Transcription

1 Gateway Services Community Development District Financial Report December 31, 2016 Prepared by

2 Gateway Services Community Development District Table of Contents BASIC FINANCIAL STATEMENTS Report Page # Balance Sheet General Funds Page 1 Debt Service, Capital Projects and Enterprise Funds Page 2-3 Revenues and Summary Expenditures General Funds Page 4-15 Debt Service Funds Page Capital Projects - General Fund Page Capital Projects - Enterprise Fund Page Capital Project Fund Page 22 Enterprise Fund Page Notes to the Financial Statements Page SUPPORTING SCHEDULES Treasurer's Report..... Page Fixed Assets Reserve Schedule..... Page 33 Capital Projects - Spending Report. Page Series 2013 Capital Projects Fund - Recap of Activity Page 38 Series 2013 Requisition List.. Page 39 Series Water Meter Replacement Project Fund - Recap of Activity Page 40 Series Requisition List.. Page 41 Assessment Collection Report.... Page 42

3 Gateway Services Community Development District Basic Financial Statements (Unaudited) December 31, 2016

4 Balance Sheet December 31, 2016 Account Description General Fund Pelican Preserve Fund Stoneybrook Fund Towne Lakes Fund Lake Bank Restoration Fund Capital Projects - General Fund Total Assets Current Assets Cash - Checking Account $ 1,452,760 $ 14,944 $ 475,263 $ 42,486 $ - $ - $ 1,985,453 Equity in Pooled Cash (1,272,949) ,272,949 - Accounts Receivable 15, ,085 Interest/Dividend Receivables - 8, ,334 Due From Other Funds - 318,532 61,243 1, , ,728 Investments: Certificates of Deposit - 12 Months - 702, ,001 Certificates of Deposit - 18 Months - 500, ,000 Certificates of Deposit - 6 Months - 602, ,146 Certificates of Deposit - 9 Months - 100, ,000 ICS 3,196,613 2,182, ,379,298 Money Market Account , ,757 Prepaid Items , ,001 Utility Deposits - TECO Total Current Assets 3,393,056 4,569, ,209 43, ,778 1,272,949 10,173,178 Total Assets $ 3,393,056 $ 4,569,525 $ 537,209 $ 43,661 $ 356,778 $ 1,272,949 $ 10,173,178 Liabilities Current Liabilities Accounts Payable $ 71,071 $ 16,300 $ 14,900 $ - $ - $ 73,088 $ 175,359 Accrued Expenses 70, , ,886 Accrued Wages Payable Accrued Taxes Payable 3, ,877 Sales Tax Payable Due To Other Funds 734, ,458 Total Current Liabilities 880,297 16, , ,088 1,088,550 Total Liabilities 880,297 16, , ,088 1,088,550 Fund Balances / Retained Earnings Nonspendable: Prepaid Items , ,001 Utility Deposits - TECO Restricted for: Capital Projects ,199,861 1,199,861 Committed to: Fixed Asset Reserves - 960,667 79, ,040,261 Emergency Reserve Fund 700, ,000 Unassigned: 1,811,593 3,562, ,922 43, ,778-6,113,130 Total Fund Bal. / Ret. Earnings $ 2,512,759 $ 4,553,053 $ 418,516 $ 43,661 $ 356,778 $ 1,199,861 $ 9,084,628 Total Liab. & Fund Bal. / Ret. Earnings $ 3,393,056 $ 4,569,525 $ 537,209 $ 43,661 $ 356,778 $ 1,272,949 $ 10,173,178 Report Page #1

5 Balance Sheet December 31, 2016 Account Description Series 2013 Debt Service Fund Series 2007 Debt Service Fund Capital Projects - Enterprise Fund Series 2013 Capital Projects Fund Enterprise Fund Total Assets Current Assets Cash - Checking Account $ - $ - $ - $ - $ 863,551 $ 863,551 Equity in Pooled Cash ,796 - (531,796) - Accounts Receivable ,126 43,126 Accounts Receivable - Other Allow -Doubtful Accounts (18,258) (18,258) Connection Fees Receivable ,202 85,202 Allow-Doubtful Collections (85,202) (85,202) Due From Other Funds 36,623 43, ,239 Investments: ICS ,721,523 2,721,523 Money Market Account , ,049 Acquisition Fund ,268 9,268 Benefit Tax Account - 410, ,515 Construction Fund ,289,798-1,289,798 Interest Account ,621 9,621 Maintenance Reserve , ,577 Rate Stabilization fund , ,254 Reserve Fund 50, , ,053 Revenue Fund 218, , ,937 Sinking fund ,019 70,019 Prepaid Items ,335 1,335 Accrued Revenue , ,601 Total Current Assets 305, , ,796 1,289,798 5,315,635 7,896,492 Noncurrent Assets Fixed Assets Water Sewer Lines ,546,730 20,546,730 Accum Depr - Wtr Swr Lines (9,803,389) (9,803,389) Plant & Equipment ,768,735 1,768,735 Accum Depr - Plant and Equip (464,770) (464,770) Meters , ,395 Accum Depr - Meters (233,729) (233,729) Equipment and Furniture , ,227 Accum Depr - Equip/Furniture (277,814) (277,814) Construction Work In Process ,222,515 1,222,515 Deferred Loss on Refunding ,266 72,266 A/A - Deferred Loss on Refunding (3,889) (3,889) Deferred Amount on Refunding ,161,274 1,161,274 Acc Amort - Def Amt on Refund (1,161,274) (1,161,274) Total Noncurrent Assets ,596,277 13,596,277 Total Assets $ 305,132 $ 454,131 $ 531,796 $ 1,289,798 $ 18,911,912 $ 21,492,769 Report Page #2

6 Balance Sheet December 31, 2016 Account Description Series 2013 Debt Service Fund Series 2007 Debt Service Fund Capital Projects - Enterprise Fund Series 2013 Capital Projects Fund Enterprise Fund Total Liabilities Current Liabilities Accounts Payable $ - $ - $ - $ - $ 49,950 $ 49,950 Accrued Expenses , ,756 Retainage Payable , ,611 Due To Other Gov'tl Units , ,820 Accrued Interest Payable ,949 21,949 Accrued Vacation ,575 16,575 Accrued Taxes Payable ,463 8,463 Deposits , ,948 Prepaid Connection Fees , ,812 Deferred Revenue ,302 56,302 Due To Other Funds ,318 77,191 83,509 Total Current Liabilities ,318 1,626,377 1,632,695 Long-Term Liabilities Revenue Bonds Payable-LT , ,000 Notes Payable-LT ,162,457 1,162,457 Total Long-Term Liabilities ,027,457 2,027,457 Total Liabilities ,318 3,653,834 3,660,152 Fund Balances / Retained Earnings Restricted for: Debt Service 305, , ,263 Capital Projects ,796 1,283,480-1,815,276 Unrestricted/Unreserved ,258,078 15,258,078 Total Fund Bal. / Ret. Earnings $ 305,132 $ 454,131 $ 531,796 $ 1,283,480 $ 15,258,078 $ 17,832,617 Total Liab. & Fund Bal. / Ret. Earnings $ 305,132 $ 454,131 $ 531,796 $ 1,289,798 $ 18,911,912 $ 21,492,769 Report Page #3

7 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - (001) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 2,307,566 2,055,199 2,085,902 30, % 2,000,399 85,503 Special Assmnts- Discounts (92,303) (82,208) (90,221) (8,013) 97.7% (86,606) (3,616) Soccer Park Use 30,000 7,500 2,406 (5,094) 8.0% 1,103 1,303 Dog Park Revenue 3, % 1,109 (165) RV Parking Lot Revenue 10,000 2,500 2, % 2, Other Miscellaneous Revenues 5,000 1,250 2,512 1, % 5,531 (3,019) Interest - Investments 15,000 3,750 3,087 (663) 20.6% 1,659 1,427 Stormwater/Road Review Fees ,681 12,681 n/a - 12,681 Insurance Reimbursements - - 8,370 8,370 n/a - 8,370 TOTAL REVENUE 2,278,763 1,988,866 2,028,372 39, % 1,925, ,580 EXPENDITURES Administrative P/R-Board of Supervisors 4,811 1,203 1, % 1, Payroll Taxes % Engineering Fees 16,037 4,009 2,198 1, % 2, Management Services 45,104 11,276 10, % 11,458 1,057 Attorney Fees 11,025 2,756 1,138 1, % 1, Auditing Services 4,109 2,055-2, % - - Public Officials Insurance 1, % Legal Advertising 2, % Audio/Video Recording % - - Dues, Licenses, Subscriptions (0) 100.3% 36 1 Total Administrative 85,231 22,665 15,436 7, % 17,152 1,716 Operational Admin Services Payroll-Salaries 12,966 3,242 3,407 (166) 26.3% 2,971 (436) Payroll Taxes % 227 (20) Retirement Benefits % Life and Health Insurance 4,255 1,064 1, % 1, Workers' Compensation % 9 (1) Professional Fees 5,012 1, , % - (178) Telephone/Fax/Internet Services 4,811 1, % 1, Cell Phone (54) 31.0% 163 (117) Postage % 75 (37) Building Utilities 2, (66) 27.3% 574 (193) Rentals & Leases % 95 1 Report Page #4

8 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - (001) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Insurance (Liab,Auto,Property) 5,093 2,547 2, % 2, Building Maintenance & Repairs 2, % 209 (13) Vehicle Operations 1, ,869 (1,533) 139.1% 480 (1,388) Vehicle Maintenance 2, % - - Team Events % Printing 1, % Dues, Licenses, Subscriptions (564) 401.0% - (602) Office Supplies 2, (106) 28.8% 210 (597) Computer Support 5,012 1,253 1,285 (32) 25.6% 1, Website & Newsletter % 61 - Team Uniforms % - - Safety Equipment (25) 33.4% - (101) Education / Training 2, ,053 (551) 52.5% 61 (992) Safety Training % - - Op Supplies - General 1, (138) 36.5% 212 (227) Total Oper. Admin Services 59,303 16,109 15, % 11,557 (3,762) Landscape Services Payroll-Salaries 12,894 3,224 3,287 (64) 25.5% 2,951 (336) Payroll Taxes (5) 25.5% 226 (26) Retirement Benefits % 79 6 Life and Health Insurance 3, (75) 27.3% 779 (122) Workers' Compensation % 154 (19) ProfServ-Landscape Architect 34,000 8,500-8, % - - Contractual Landscaping Maint. 648, , , % 165,618 3,427 Irrigation Repairs & Replacem. 15,000 3,750-3, % 7,503 7,503 R&M-Tree Trimming Services 35,000 8,750-8, % - - Plant Replacement Program 25,000 6,250 6,505 (255) 26.0% 1,341 (5,164) Utility Fees 38,000 9,500 10,730 (1,230) 28.2% 8,082 (2,648) Insurance 1, % Total Landscape Services 815, , ,775 19, % 187,412 2,636 Report Page #5

9 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - (001) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Waterway Management Services Payroll-Salaries 12,894 3,224 3,287 (64) 25.5% 2,951 (336) Payroll Taxes (5) 25.5% 226 (26) Retirement Benefits % 79 6 Life and Health Insurance 3, (75) 27.3% 779 (122) Workers' Compensation % 154 (19) Engineering Fees 35,000 8,750 7,435 1, % 8,443 1,008 Attorney Fees 15,000 3,750 2,267 1, % 3,648 1,381 Insurance 1, % Fountain Maintenance 5,000 1,250-1, % - - Lake Maintenance 135,000 33,750 39,809 (6,059) 29.5% 28,783 (11,026) Wetland Maintenance 124,180 31,045 11,130 19, % 16,385 5,255 Wetland Plantings 10,000 2,500-2, % - - Grass Carp Program 1, % - - NPDES Compliance 2, % - (560) Lakes and Wetlands Inspection 29,100 7,275 7, % 7,275 - Video Inspection 10,000 2,500-2, % - - Maintenance & Repairs 50,000 12,500 8,195 4, % - (8,195) Littoral Maintenance 54,000 13,500-13, % - - Aerators n/a Utilities - Aerators 5,000 1, % 194 (405) Total Waterway Mgmt Services 495, ,198 82,396 41, % 69,496 (12,900) Parks & Recreation Payroll-Salaries 44,377 11,094 10, % 13,367 2,712 Payroll Taxes 3, % 1, Retirement Benefits 1, % 58 4 Life and Health Insurance 13,307 3,327 3, % 955 (2,313) Workers' Compensation 2,248 1, % 567 (43) Attorney Fees 2, % - - Utility Services 65,716 16,429 16, % 16, Insurance 5,165 2,583 2, % 2, Contractual Landscaping Maint. 103,866 25,967 25, % 26, Plant Replacement Program 5,000 1,250-1, % - - Maintenance & Repairs 30,000 7,500 8,106 (606) 27.0% 2,341 (5,765) Dog Park 5,000 1,250 3,848 (2,598) 77.0% 51 (3,797) Total Parks & Recreation 281,905 72,329 71, % 63,364 (8,310) Report Page #6

10 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - (001) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Swimming Pool Payroll-Salaries 70,627 17,657 15,954 1, % 14,187 (1,766) Payroll Taxes 5,403 1,351 1, % 1,085 (135) Retirement Benefits % Life and Health Insurance 10,614 2,654 2, % 2, Workers' Compensation 3,614 1, % 877 (105) Education / Training 4,200 1,050-1, % - - Attorney Fees 1, % Telephone/Fax/Internet Services 2, (198) 34.7% 197 (511) Utility Services 25,000 6,250 9,081 (2,831) 36.3% 5,304 (3,777) Propane /Natural Gas 25,000 6,250 14,647 (8,397) 58.6% 2,676 (11,971) Insurance 5,165 2,583 2, % 2, Maintenance & Repairs 20,000 5, , % 14,148 13,532 Op Supplies - Pool Chemicals 5,300 1,325 1,981 (656) 37.4% 1,272 (709) Operating Supplies 10,000 2,500-2, % Total Swimming Pool 188,754 49,383 50,046 (663) 26.5% 46,443 (3,603) Special Events Payroll-Salaries 5,473 1,368 1, % 796 (418) Payroll Taxes % 61 (32) Retirement Benefits % 26 0 Life and Health Insurance 1, % 274 (140) Workers' Compensation % 65 (9) Insurance % Misc-Special Events 5,000 1,250-1, % 1,221 1,221 Holiday Lighting & Decorations 15,000 3,750 19,574 (15,824) 130.5% 11,596 (7,978) Total Special Events 28,572 7,348 21,617 (14,270) 75.7% 14,266 (7,352) Street Light Services Electricity 33,585 8,396 7,324 1, % 7, Insurance 4,903 2,452 1, % 2, Maintenance & Repairs 35,000 8,750 9,400 (650) 26.9% 10,622 1,222 Operating Supplies 1, % - - Total Street Light Services 74,488 19,848 18,722 1, % 20,264 1,542 Report Page #7

11 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - (001) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Roadway Services Attorney Fees 2, ,565 (2,940) 142.6% 1,229 (2,336) Engineering Fees 1, (45) 28.0% - (420) Street Sweeping Services 15,000 3,750 2, % 3, Maintenance & Repairs 3, ,667 (2,917) 122.2% - (3,667) Operating Supplies 1, % - - Total Roadway Services 23,000 5,750 10,421 (4,670) 45.3% 4,363 (6,058) Public Safety Services Engineering Fees 1, % - - Attorney Fees 1, % - - Contractual Services-Sheriff 5,000 1,250 11,610 (10,360) 232.2% 700 (10,910) Other Public Safety expenses 100,000 25,000-25, % - - Total Public Safety Services 107,000 26,750 11,610 15, % 700 (10,910) Other Fees & Charges Trsf to Fixed Asset Reserve 114, % - - Professional Fees 5,000 1,250-1, % - - Misc-Late Fees (20) n/a - (20) Total Other Fees & Charges 119,838 1, , % - (20) TOTAL REVENUES 2,278,763 1,988,866 2,028,372 39, % 1,925, ,580 TOTAL EXPENDITURES 2,278, , ,036 68, % 435,016 (47,020) Revenue Over (Under) Expenditures - 1,438,770 1,546, ,566 n/a 1,490,776 55,560 OTHER FINANCING SOURCES (USES) Operating Transfers-Out n/a (2,230,441) 2,230,441 TOTAL OTHER SOURCES (USES) n/a (2,230,441) 2,230,441 Net change in Fund Balance - 1,438,770 1,546, ,566 n/a (739,665) 2,286,001 Fund balance as of Oct , ,422 3,095,341 (2,128,919) Fund Balance as of Dec 31 $ 2,405,192 $ 2,512,758 $ 2,355,676 $ 157,082 Report Page #8

12 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Pelican Preserve (002) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 628, , , % 575,645 52,995 Special Assmnts- HOA 1,234,503 1,234,503 1,234, % 1,166,599 67,904 Special Assmnts- Reserves 431, , ,713 39, % 144,224 75,489 Special Assmnts- Discounts (91,767) (81,730) (90,090) (8,360) 98.2% (81,673) (8,417) Fire Impact Fees 25,000 6,250 72,713 66, % 15,546 57,168 Interest - Investments 10,000 2,500 4,090 1, % 1,156 2,934 TOTAL REVENUE 2,237,410 1,970,293 2,069,570 99, % 1,821, ,073 EXPENDITURES Administrative P/R-Board of Supervisors 2, % Payroll Taxes % 44 3 Engineering Fees 7,963 1,991 1, % 1,058 (32) Management Services 22,396 5,599 5, % 5, Attorney Fees 5,475 1, % 731 (113) Auditing Services 2,041 1,021-1, % - - Public Officials Insurance % 243 (3) Legal Advertising 1, % Audio/Video Recording % - - Dues, Licenses, Subscriptions (13) 102.4% 17 (1) Total Administrative 42,322 11,242 7,934 3, % 8, Operational Admin Services Payroll-Salaries 6,438 1,610 1,677 (67) 26.0% 1,388 (289) Payroll Taxes (18) 28.7% 106 (35) Retirement Benefits % 48 2 Life and Health Insurance 2, % Workers' Compensation % 4 (0) Professional Fees 2, % - (88) Telephone/Fax/Internet Services 2, % Postage % 35 (20) Cell Phone (27) 30.9% 77 (62) Building Utilities 1, (13) 25.9% 232 (129) Rentals & Leases % 45 (1) Insurance (Liab,Auto,Property) 2,529 1,265 1, % 1,000 (31) Building Maintenance & Repairs 1, % 99 (11) Vehicle Operations (763) 139.4% 227 (702) Vehicle Maintenance % - - Team Events % Report Page #9

13 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Pelican Preserve (002) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Printing % Dues, Licenses, Subscriptions (280) 398.0% - (299) Office Supplies 1, (46) 28.3% 99 (295) Computer Support 2, (13) 25.5% Website & Newsletter % 29 - Team Uniforms % - - Safety Equipment (13) 33.5% - (50) Education / Training (274) 52.5% 29 (493) Safety Training % - - Operating Supplies (16) 27.6% 100 (65) Total Oper. Admin Services 29,447 7,998 7, % 5,406 (2,095) Operating Expenses Payroll-Salaries 1, (117) 31.2% 3,263 2,676 Payroll Taxes (9) 31.2% Retirement Benefits % Life and Health Insurance (13) 28.8% Workers' Compensation % ProfServ-Arbitrage Rebate 1, % - - ProfServ-Dissemination Agent 1, % - - Engineering Fees 12,000 3,000 5,213 (2,213) 43.4% 2,260 (2,953) ProfServ-Trustee Fees 4,256-3,771 (3,771) 88.6% - (3,771) Attorney Fees 25,000 6,250 6,675 (425) 26.7% 5,504 (1,171) Property Insurance 12,665 6,333 5,160 1, % 5, Road/Sidewalk Maintenance 5,000 1, % Miscellaneous Services 5,000 1,250 3,478 (2,228) 69.6% - (3,478) Total Operating Expenses 68,725 18,732 25,593 (6,860) 37.2% 18,262 (7,331) Waterway Management Services Contracts-Lakes 146,000 36,500 16,377 20, % 21,644 5,267 R&M-Fountain 16,000 4,000-4, % - - R&M-Stormwater System 60,000 15,000-15, % R&M-Wash Out Repair 25,000 6,250-6, % - - Fish Gate & Aerator Maint. 10,000 2,500-2, % - - Vine Control & Removal 20,000 5,000-5, % - - Littoral Restoration 3, % Pond Aeration 100,000 25,000 9,638 15, % 327, ,119 Grass Carp Program 5,000 1,250-1, % - - Aeration Electrical Op 8,000 2,000-2, % - - Pond Bank Improvements 100,000 25,000 1,665 23, % 12,800 11,135 Report Page #10

14 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Pelican Preserve (002) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) GIS Web Portal 5,000 1,250-1, % - - Total Waterway Mgmt Services 498, ,500 27,680 96, % 362, ,141 Other Fees & Charges HOA agreement 1,185, , ,830 51, % 238,809 (6,020) Reserve - Capital Projects 413, % - - Total Other Fees & Charges 1,598, , ,830 51, % 238,809 (6,020) TOTAL EXPENDITURES 2,237, , , , % 633, ,869 Revenue Over (Under) Expenditures - 1,511,540 1,756, ,493 n/a 1,188, ,943 Net change in Fund Balance - 1,511,540 1,756, ,493 n/a 1,188, ,943 Fund balance as of Oct 01 2,797,020 2,797,020 2,400, ,729 Fund Balance as of Dec 31 $ 4,308,560 $ 4,553,052 $ 3,588,381 $ 964,672 Report Page #11

15 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Stoneybrook (004) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 416, , ,078 5, % 370,049 6,029 Special Assmnts- Discounts (16,642) (14,822) (16,266) (1,444) 97.7% (16,021) (246) Other Miscellaneous Revenues n/a Interest - Investments n/a 9 10 TOTAL REVENUE 399, , ,534 4, % 354,037 6,497 EXPENDITURES Operational Admin Services Payroll-Salaries 5,882 1,470 1,558 (88) 26.5% 1,474 (85) Payroll Taxes (7) 26.5% 113 (6) Retirement Benefits % 27 3 Life and Health Insurance 1, (55) 28.5% 389 (61) Workers' Compensation % 71 (8) Engineering Fees 2, % - - Attorney Fees 1, % Total Oper. Admin Services 11,379 2,917 2, % 2, Landscape Services Utility Fees 25,000 6,250 6, % 4,158 (1,990) Contractual Landscaping Maint. 116,122 29,031 29, % 31,400 2,370 R&M-Irrigation 3, % Miscellaneous Maintenance 3, % 125 (25) Plant Replacement Program 23,953 5,988-5, % Total Landscape Services 171,075 42,769 35,329 7, % 36, Street Light Services Electricity 32,000 8,000 8,248 (248) 25.8% 7,992 (256) Total Street Light Services 32,000 8,000 8,248 (248) 25.8% 7,992 (256) Roadway Services Maintenance & Repairs 4,000 1,000-1, % - - Cap Outlay - Security Cameras 5,000 1,250-1, % - - Total Roadway Services 9,000 2,250-2, % - - Report Page #12

16 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Stoneybrook (004) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Public Safety Services Contractual Services 157,447 39,362 32,514 6, % - (32,514) Utility - Gatehouse 4,500 1,125 1,259 (134) 28.0% 768 (491) Gatehouse Repair & Maintenance 4,000 1,000-1, % - - Total Public Safety Services 165,947 41,487 33,773 7, % 768 (33,004) Other Fees & Charges Revenue Reserve 10, % - - Total Other Fees & Charges 10, % - - TOTAL EXPENDITURES 399,401 97,423 79,580 17, % 47,726 (31,854) Revenue Over (Under) Expenditures - 258, ,953 22,656 n/a 306,311 (25,357) Net change in Fund Balance - 258, ,953 22,656 n/a 306,311 (25,357) Fund balance as of Oct , , ,684 (36,121) Fund Balance as of Dec 31 $ 395,861 $ 418,517 $ 479,995 $ (61,478) Report Page #13

17 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Towne Lakes (005) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 7,188 6,402 6, % 6, Special Assmnts- Discounts (288) (256) (281) (25) 97.6% (277) (4) Interest - Investments n/a 2 0 TOTAL REVENUE 6,900 6,146 6, % 6, EXPENDITURES Operational Admin Services Attorney Fees % - - Total Oper. Admin Services % - - Landscape Services Contractual Services % - - Utility Fees 1, % Irrigation Maintenance 1, % - - Plant Replacement Program 2, % - - Total Landscape Services 5,250 1, , % Roadway Services Maintenance & Repairs 1, % - - Total Roadway Services 1, % - - TOTAL EXPENDITURES 6,900 1, , % Revenue Over (Under) Expenditures - 4,421 6,012 1,591 n/a 5, Net change in Fund Balance - 4,421 6,012 1,591 n/a 5, Fund balance as of Oct 01 37,649 37,649 31,348 6,301 Fund Balance as of Dec 31 $ 42,070 $ 43,661 $ 37,253 $ 6,408 Report Page #14

18 Statement of Revenues, Expenditures and Changes in Fund Balances General Fund - Lake Bank Restoration (006) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 412, , ,907 5, % - 372,907 Special Assmnts- Discounts (16,501) (14,696) (16,129) (1,433) 97.7% - (16,129) TOTAL REVENUE 396, , ,778 4, % - 356,778 EXPENDITURES Waterway Mgmt Services Lake Bank Restoration 3,000, , , % - - Total Waterway Mgmt Services 3,000, , , % - - Debt Service Payments Principal Payments 323,545 80,886-80, % - - Interest Payments 20,079 5,020-5, % - - Total Debt Service Payments 343,624 85,906-85, % - - Other Fees and Charges Reserve - Other 52,410 52,410-52, % - - Total Other Fees and Charges 52,410 52,410-52, % - - TOTAL EXPENDITURES 3,396, , , % - - Revenue Over (Under) Expenditures (3,000,000) (535,594) 356, , % - 356,778 Net change in Fund Balance - 2,464, ,778 (2,107,628) n/a - 356,778 Fund balance as of Oct Fund Balance as of Dec 31 $ 2,464,406 $ 356,778 $ - $ 356,778 Report Page #15

19 Statement of Revenues, Expenditures and Changes in Fund Balances Series 2013 Debt Service Fund - Pelian Preserve (202) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 242, , ,291 3, % 215,775 3,516 Special Assmnts- Discounts (9,704) (8,643) (9,159) (516) 94.4% (9,016) (143) Interest - Investments n/a 2 0 TOTAL REVENUE 232, , ,134 2, % 206,761 3,373 EXPENDITURES Debt Service Expenses Debt Retirement Series A 90, % - - Interest Expense 132,838 66,419 66, % 68,781 2,363 Total Debt Service 222,838 66,419 66, % 68,781 2,363 TOTAL EXPENDITURES 222,838 66,419 66, % 68,781 2,363 Revenue Over (Under) Expenditures 10, , ,715 3, % 137,980 5,735 Net change in Fund Balance 10, , ,715 2, % 137,980 5,735 Fund balance as of Oct , , ,712 5,705 Fund Balance as of Dec 31 $ 302,417 $ 305,132 $ 293,692 $ 11,440 Report Page #16

20 Statement of Revenues, Expenditures and Changes in Fund Balances Series 2007 Debt Service Fund - Area 2 (204) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Special Assmnts- Tax Collector 277, , ,547 3, % 246,530 4,017 Special Assmnts- Discounts (11,087) (9,874) (10,465) (591) 94.4% (10,302) (163) Interest - Investments n/a 4 (0) TOTAL REVENUE 266, , ,086 3, % 236,232 3,853 EXPENDITURES Adminstrative ProfServ-Trustee Fees 6, % - - Total Administrative 6, % - - Debt Service Expenses Principal Debt Retirement 215, % - - Interest Expense 49,088 24,544 24, % 30,056 5,513 Total Debt Service 264,088 24,544 24, % 30,056 5,513 TOTAL EXPENDITURES 270,588 24,544 24, % 30,056 5,513 Revenue Over (Under) Expenditures (4,503) 212, , % 206,176 9,366 Net change in Fund Balance (4,503) 212, ,542 3, % 206,176 9,366 Fund balance as of Oct , , ,517 (7,928) Fund Balance as of Dec 31 $ 451,030 $ 454,131 $ 452,693 $ 1,438 Report Page #17

21 Statement of Revenues, Expenditures and Changes in Fund Balances Capital Projects Fund - General Fund (300) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Interest - Investments n/a - - TOTAL REVENUE n/a - - EXPENDITURES Adminstrative Services Vehicle, Pickup Truck n/a 7,951 7,951 WEB Upgrade, Doc. Mgmt Software 1, ,960 (1,540) 116.7% - (1,960) Office Building Expansion 240,000 60,000-60, % - - New Phone System 2, % - - Update Audio/Video equipment n/a 2,318 2,318 Total Administrative 243,930 60,983 1,960 59, % 10,268 8,309 Landscape Services Irrigation System High Service Pumps 30,000 7,500-7, % - - Irrigation Replacement Specs. 4,500 1,125-1, % - - Total Landscape Services 34,500 8,625-8, % - - Waterway Mgmt Services Storm Water Sys Renovation & Maint ,000 (150,000) n/a - (150,000) Aerators 10,000 2,500-2, % - - Lake bank Restoration ,541 (50,541) n/a 18,894 (31,647) Total Waterway Mgmt Services 10,000 2, ,541 (198,041) % 18,894 (181,647) Parks & Recreation Stadium Lighting Replacement 79,000 19,750-19, % 3,220 3,220 Soccer Complex 100,000 25,000-25, % - - Total Parks & Recreation 179,000 44,750-44, % 3,220 3,220 Swimming Pool Pool Furniture 5,000 1,250 5,509 (4,259) 110.2% - (5,509) Pool Rehabilitation 20,000 5,000 8,749 (3,749) 43.7% - (8,749) Total Swimming Pool 25,000 6,250 14,258 (8,009) 57.0% - (14,258) Roadway Services Road Turnover Project - - 3,663 (3,663) n/a 102,969 99,307 Griffin Road-Sidewalk & Street Lighting n/a 25,869 25,869 Total Roadway Services - - 3,663 (3,663) n/a 128, ,176 TOTAL EXPENDITURES 492, , ,422 (97,314) 44.8% 161,221 (59,201) Revenue Over (Under) Expenditures (492,430) (123,108) (220,422) (97,314) 44.8% (161,221) (59,201) Report Page #18

22 Statement of Revenues, Expenditures and Changes in Fund Balances Capital Projects Fund - General Fund (300) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) OTHER FINANCING SOURCES (USES) Utilization of FA Reserve 492, % - - Interfund Transfer - In n/a 2,230,441 (2,230,441) TOTAL OTHER SOURCES (USES) 492, % 2,230,441 (2,230,441) Net change in Fund Balance - (123,108) (220,422) (97,314) n/a 2,069,220 (2,289,642) Fund balance as of Oct 01 1,420,283 1,420,283-1,420,283 Fund Balance as of Dec 31 $ 1,297,176 $ 1,199,862 $ 2,069,220 $ (869,359) Report Page #19

23 Statement of Revenues, Expenditures and Changes in Fund Balances Capital Projects Fund - Enterprise Fund (301) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Interest - Investments n/a - - TOTAL REVENUE n/a - - EXPENDITURES Adminstrative Services Vehicle, Pickup Truck n/a 18,552 18,552 WEB Upgrade, Doc. Mgmt Software 3, ,573 (3,593) 116.7% - (4,573) Office Building Expansion 560, , , % - - New Phone System 5,250 1,313-1, % - - Update Audio/Video equipment n/a 5,408 5,408 Total Administrative 569, ,292 4, , % 23,960 19,387 Utility Services Irrigation System High Service Pumps 70,000 17,500 8,364 9, % 36,709 28,345 Irrigation Replacement Specs. 10,500 2,625-2, % - - GIS Software 20,000 5,000 6,980 (1,980) 34.9% 2,040 (4,940) Generators at Master Pump Stations 60,000 15,000-15, % - - Meter Replacement Project n/a 1,513 1,513 Wastewater Pump Station Replacement 60,000 15,000-15, % 66,001 66,001 Telemetry Equip. Replacemnt & Upgrade 20,000 5,000-5, % - - Rehab of Irrigation Ground Water Wells 25,000 6,250 20,340 (14,090) 81.4% - (20,340) Emergency By-Pass Pump 57,000 14,250 51,321 (37,071) 90.0% - (51,321) Capital Outlay - New Pumps - - 7,282 (7,282) n/a - (7,282) Capital Outlay - Lift Station 15,000 3,750-3, % - - Total Utility Services 337,500 84,375 94,287 (9,912) 27.9% 106,263 11,976 TOTAL EXPENDITURES 906, ,667 98, , % 130,223 31,363 Revenue Over (Under) Expenditures (906,670) (226,667) (98,860) 127, % (130,223) 31,363 OTHER FINANCING SOURCES (USES) Utilization of FA Reserve 906, % - - Interfund Transfer - In ,074 85,074 n/a 419,793 (334,719) Operating Transfers-Out - - (85,074) (85,074) n/a - (85,074) TOTAL OTHER SOURCES (USES) 906, % 419,793 (419,793) Report Page #20

24 Statement of Revenues, Expenditures and Changes in Fund Balances Capital Projects Fund - Enterprise Fund (301) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Net change in Fund Balance - (226,667) (98,860) 127,807 n/a 289,570 (388,430) Fund balance as of Oct , , ,657 Fund Balance as of Dec 31 $ 403,989 $ 531,796 $ 289,570 $ 242,226 Report Page #21

25 Statement of Revenues, Expenditures and Changes in Fund Balances Series 2013 Capital Projects Fund - Pelican Preserve (302) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Interest - Investments n/a 19 - TOTAL REVENUE n/a 19 - EXPENDITURES Capital Improvements Improvements - Other n/a - - Total Capital Improvements n/a - - TOTAL EXPENDITURES n/a - - Revenue Over (Under) Expenditures n/a 19 - Net change in Fund Balance n/a 19 - Fund balance as of Oct 01 1,283,461 1,283,461 1,283, Fund Balance as of Dec 31 $ 1,283,461 $ 1,283,480 $ 1,283,402 $ 78 Report Page #22

26 Statement of Revenues, Expenses and Changes in Net Assets Enterpise Fund - Water and Sewer (400) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) REVENUE Water Revenue $ 1,465,323 $ 366,331 $ 365,918 $ (413) 25.0% $ 345,777 $ 20,140 Irrigation Revenue 557, , ,064 2, % 122,611 19,453 Sewer Revenue 1,998, , ,003 4, % 471,939 32,064 Penalties 45,329 11,332 4,186 (7,146) 9.2% 11,184 (6,997) Interest - Investments 1, ,768 3, % 1,395 2,374 Connection Fees - W/S 250,000 62,500 93,205 30, % 159,577 (66,372) TOTAL REVENUE 4,318,321 1,079,580 1,113,144 33, % 1,112, EXPENSES Administrative P/R-Board of Supervisors 16,800 4,200 3, % 4, Payroll Taxes 1, % Engineering Fees 56,000 14,000 7,672 6, % 7, Management Services 157,500 39,375 36,313 3, % 39,375 3,063 Attorney Fees 38,500 9,625 3,972 5, % 5,311 1,339 Auditing Services 14,350 7,175-7, % - - Public Officials Insurance 4,246 2,123 1, % 1, Legal Advertising 8,400 2,100-2, % Audio/Video Recording % - - Dues, Licenses, Subscriptions (92) 100.4% Total Administrative 297,623 79,055 53,878 25, % 58,941 5,063 Operational Admin Services Payroll-Salaries 45,275 11,319 11,863 (544) 26.2% 10,276 (1,587) Payroll Taxes 3, (42) 26.2% 786 (121) Retirement Benefits 1, % Life and Health Insurance 14,858 3,714 3, % 3, Workers' Compensation % 32 (3) Professional Fees 17,500 4, , % - (621) Telephone/Fax/Internet Services 16,800 4,200 1,094 3, % 4,035 2,941 Postage 1, % 257 (132) Cell Phone 3, (188) 31.0% 559 (416) Building Utilities 9,800 2,450 2,638 (188) 26.9% 1,879 (759) Rentals & Leases 2, % 326 (0) Report Page #23

27 Statement of Revenues, Expenses and Changes in Net Assets Enterpise Fund - Water and Sewer (400) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Insurance (Liab,Auto,Property) 17,784 8,892 7,246 1, % 7, Building Maintenance & Repairs 8,750 2, , % 720 (56) Vehicle Operations 4,690 1,173 6,530 (5,357) 139.2% 1,651 (4,879) Vehicle Maintenance 7,000 1,750-1, % - - Team Events 1, % Printing 5,950 1, % Dues, Licenses, Subscriptions ,100 (1,969) 400.0% - (2,100) Office Supplies 9,800 2,450 2,804 (354) 28.6% 723 (2,081) Computer Support 17,500 4,375 4,480 (105) 25.6% 4, Website & Newsletter 2, % Team Uniforms 1, % - - Safety Equipment 1, (89) 33.4% - (351) Education / Training 7,000 1,750 3,675 (1,925) 52.5% 210 (3,465) Safety Training 1, % - - Operating Supplies 4,200 1,050 1,167 (117) 27.8% 729 (438) Total Oper. Admin Services 207,083 56,249 53,008 3, % 39,685 (13,322) Utility Services Payroll-Salaries 316,599 79,150 81,706 (2,556) 25.8% 71,000 (10,706) Payroll-Proposed Staffing 52,040 13,010-13, % - - Payroll Taxes 24,220 6,055 6,251 (196) 25.8% 5,431 (819) Retirement Benefits 9,498 2, , % Life and Health Insurance 71,030 17,757 20,190 (2,432) 28.4% 16,132 (4,058) Workers' Compensation 13,564 6,782 3,685 3, % 3,346 (339) Engineering Fees 15,000 3,750 3, % 2,705 (550) ProfServ-Dissemination Agent 1, % - - ProfServ-Trustee Fees 3,775 3,775-3, % 3,500 3,500 Attorney Fees 40,000 10,000 2,919 7, % 1,733 (1,186) Professional Fees 10,000 2,500 3,325 (825) 33.3% - (3,325) ProfServ-Arbitrage Rebate 1,300 1,300-1, % - - Contracts-Water Quality 20,000 5,000 2,465 2, % 5,190 2,725 Contracts-Valve Exercising 15,000 3,750-3, % 10,047 10,047 Postage - Utility Billing 15,000 3,750 3,784 (34) 25.2% 2,923 (861) Electricity 140,000 35,000 27,008 7, % 33,080 6,072 Contractual Maint. Services 4,000 1, % 1,730 1,190 Insurance 7,550 3,775 3, % 3, Maintenance & Repairs 150,000 37,500 35,740 1, % 45,502 9,762 R&M-Lift Station 50,000 12,500 1,278 11, % 16,386 15,107 Pump & Well Maintenance 40,000 10,000 4,536 5, % 622 (3,914) Report Page #24

28 Statement of Revenues, Expenses and Changes in Net Assets Enterpise Fund - Water and Sewer (400) For the Period Ending December 31, 2016 (25% Yr Complete) YTD Variance % of PRIOR YEAR Annual Year to Date Year to Date Bud vs. Act Annual Year to Date Variance Description Budget Budget Actual Fav (Unfav) Budget Dec-15 Fav (Unfav) Manhole Maintenance & Repairs 15,000 3, , % 9,060 8,930 Bank Fees 15,000 3,750 5,616 (1,866) 37.4% 3,563 (2,053) Dues, Licenses, Subscriptions % - - County Agreement Obligation 172,335 43,084 43, % 43,084 - Billing IT Support 11,000 2,750 1,148 1, % - (1,148) Billing Supplies 4,000 1,000-1, % - - Meters & Supplies 75,000 18,750 21,656 (2,906) 28.9% 22,817 1,161 Hurricane Supplies 1, % - - Contracts-Bulk Potable Water 957, , ,194 (24,715) 27.6% 244,509 (19,684) Contracts-Bulk Wastewater 1,082, , , , % 150,248 (16,658) Trsf to Fixed Asset Reserve 154, , , % - - Total Utility Services 3,489, , , , % 696,674 (6,729) Debt Service Expenses Principal Debt Retirement 275, % 270, ,000 Interest Expense 49,323 24,662 21,949 2, % 18,842 (3,107) Total Debt Service 324,323 24,662 21,949 2, % 288, ,893 TOTAL REVENUES 4,318,321 1,079,580 1,113,144 33, % 1,112, TOTAL EXPENSES 4,318,321 1,157, , , % 1,084, ,904 Revenue Over (Under) Expenses - (77,568) 280, ,475 n/a 28, ,565 OTHER FINANCING SOURCES (USES) Debt Proceeds n/a 143,779 (143,779) Interfund Transfer - In ,074 85,074 n/a - 85,074 Operating Transfers-Out - - (85,074) (85,074) n/a (419,793) 334,719 TOTAL OTHER SOURCES (USES) n/a (276,014) 276,014 Net change in Assets - (77,568) 280, ,475 n/a (247,673) 528,579 Net Assets as of Oct 01 14,977,169 14,977,169 12,524,162 2,453,006 Net Assets as of Dec 31 $ 14,899,600 $ 15,258,075 $ 12,276,490 $ 2,981,586 Report Page #25

29 Notes to the Financial Statements December 31, 2016 The notes below are intended to provide additional information helpful when reviewing the financial statements. Per the Adopted Budget, the expenditures should be at approximately 25% through December. Below is an analysis of expenditures that have significant variances compared to the budget. Variance Analysis Account Name Annual Budget YTD Actual % of Budget Explanation Expenditures - General Fund Operational Admin Cell Phone $902 $279 31% Building Utilities $2,806 $767 27% Vehicle Operations $1,343 $1, % Dues, Licences, Subscriptions $150 $ % All payments for cell phone services. All payments for ADT, Waste Pro and Florida Power. All payments for vehicle operations. Includes $602 for Florida Associates of Special District membership fee. Office Supplies $2,806 $807 29% Computer Support $5,012 $1,285 26% Safety Equipment $301 $101 34% Education/Training $2,005 $1,053 53% All payments for office supplies. All payments to Entech Computers for computer support and Microsoft Office for licenses. All payments for safety equipment. Includes $1,023 to Linkedin (Lynda.com) for annual fee for online training of staff. Landscape Services Utility Fees $38,000 $10,730 28% Includes irrigation fees for four months. Waterway Management Services Lake Maintenance $135,000 $39,809 29% All payments to Aquagenix for lake maintenance. Report Page #26

30 Notes to the Financial Statements December 31, 2016 Account Name Annual Budget YTD Actual % of Budget Explanation Expenditures - General Fund (continued) Parks & Recreation Maintenance & Repairs $30,000 $8,106 27% Dog Park $5,000 $3,848 77% All payments for various soccer maintenance and repairs. Includes $1,563 to ADT Security for battery backup and other dog park expenses. Swimming Pool Telephone/Fax/Internet $2,040 $708 35% Utility Services $25,000 $9,081 36% Propane/Natural Gas $25,000 $14,647 59% All payments for telephone and internet. Includes FPL and Gateway utiltities invoices for four months. All payments for propane to heat the pool. Operating Supplies - Pool Chemicals Special Events $5,300 $1,981 37% All payments for pool chemicals. Holiday Lighting & Decorations $15,000 $19, % All payments for holiday décor. Street Light Services Maintenance & Repairs $35,000 $9,400 27% All payments to Bentley Electric Company for street light repairs. Roadway Services Attorney Fees $2,500 $3, % Maintenance & Repairs $3,000 $3, % All payments to Woodward Pires for roadway and transporation matters. Includes $3,105 for roadway landscape plan. Public Safety Services Contractual Services- Sheriff $5,000 $11, % All payments to Office of the Sheriff, Lee County for off duty detail to address issues at the Fun Park. Report Page #27

31 Notes to the Financial Statements December 31, 2016 Account Name Annual Budget YTD Actual % of Budget Explanation Expenditures - Pelican Preserve (002) Operational Admin Services Cell Phone $448 $139 31% Building Utilities $1,394 $361 26% Vehicle Operations $667 $ % Dues, Licences, Subscriptions $75 $ % Office Supplies $1,394 $394 28% Computer Support $2,488 $635 26% Safety Equipment $149 $50 34% Education/Training $995 $522 52% Operating Supplies - General $598 $165 28% All payments for cell phone services. All payments for ADT, Waste Pro and Florida Power. All payments for vehicle operations. Includes $299 for Florida Associates of Special District membership fee. All payments for office supplies. All payments to Entech Computers for computer support and Microsoft Office for licenses. All payments for safety equipment. Includes $507 to Linkedin (Lynda.com) for annual fee for online training of staff. All payments for operating supplies. Operating Expenses Engineering Fees $12,000 $5,213 43% Trustee Fees $4,256 $3,771 89% Attorney Fees $25,000 $6,675 27% Miscellaneous Services $5,000 $3,478 70% All payments to Tetra Tech for engineering fees relating to Pelican Preserve. Includes trustee fees for Series All payments to Woodward Pires for legal fees relating to Pelican Preserve. Amount includes $3,478 to James Hayes Realty for commissions on fire impact fees. Report Page #28

32 Notes to the Financial Statements December 31, 2016 Account Name Annual Budget YTD Actual % of Budget Explanation Expenditures - Enterprise (400) Operational Admin Services Cell Phone $3,150 $975 31% Building Utilities $9,800 $2,638 27% Vehicle Operations $4,690 $6, % Dues, Licences, Subscriptions $525 $2, % Office Supplies $9,800 $2,804 29% Computer Support $17,500 $4,480 26% Safety Equipment $1,050 $351 33% Education/Training $7,000 $3,675 53% Operating Supplies - General $4,200 $1,167 28% All payments for cell phone services. All payments for ADT, Waste Pro and Florida Power. All payments for vehicle operations. Includes $2,100 for Florida Associates of Special District membership fee. All payments for office supplies. All payments to Entech Computers for computer support and Microsoft Office for licenses. All payments for safety equipment. Includes $3570 to Linkedin (Lynda.com) for annual fee for online training of staff. All payments for operating supplies. Utility Services Professional Fees $10,000 $3,325 33% All payments to Earth View for utility locates. Postage - Utility Billing $15,000 $3,784 25% Bank Fees $15,000 $5,616 37% Meters & Supplies $75,000 $21,656 29% All payments to Southwest Direct for statement mailings and US Postal Service. All payments for Iberia bank charges ($867) for the enterprise checking account and bankcard fees ($4,749) for utility billing receipts. All payments for meters and other supplies. Included in this amount are meters for new construction. Report Page #29

33 Notes to the Financial Statements December 31, 2016 Account Name Annual Budget YTD Actual % of Budget Explanation Utility Services (continued) Contracts-Bulk Potable Water $957,916 $264,194 28% All payments to Lee County Utilities for bulk water. Debt Service Expenses Interest Expense $49,323 $21,949 45% Interest payments less than budgeted because actual Series interest is based on only the draw down amount of the loan. Report Page #30

34 Gateway Services Community Development District Supporting Schedules December 31, 2016

35 Treasurer's Report December 31, 2016 Account Name Bank Name Yield Maturity Balance General Fund Checking Account - Operating Iberia Bank 0.00% n/a $ 1,452,760 Money Market Account Iberia Bank 0.03% n/a 84 Money Market Account - ICS Iberia Bank 0.20% n/a 3,196,613 Pelican Preserve Fund Subtotal $ 4,649,457 Checking Account - Operating Iberia Bank 0.03% n/a 14,944 Certificate of Deposit - 12 Months BankUnited 0.85% 12/12/17 252,001 Certificate of Deposit - 12 Months BankUnited 0.80% 01/08/17 250,000 Certificate of Deposit - 12 Months BankUnited 0.80% 06/01/17 100,000 Certificate of Deposit - 12 Months Florida Community 0.87% 08/24/17 100,000 Certificate of Deposit - 18 Months BankUnited 1.05% 06/11/17 250,000 Certificate of Deposit - 18 Months BankUnited 1.05% 07/08/17 250,000 Certificate of Deposit - 6 Months BankUnited 0.55% 06/12/17 251,251 Certificate of Deposit - 6 Months BankUnited 0.50% 01/08/17 250,621 Certificate of Deposit - 6 Months BankUnited 0.55% 06/01/17 100,274 Certificate of Deposit - 9 Months BankUnited 0.65% 03/01/17 100,000 Money Market Account Iberia Bank 0.03% n/a 110,673 Money Market Account - ICS Iberia Bank 0.20% n/a 2,182,685 Stoneybrook Fund Subtotal $ 4,212,449 Checking Account - Operating Iberia Bank 0.03% n/a 475,263 Town Lakes Fund Subtotal $ 475,263 Checking Account - Operating Iberia Bank 0.03% n/a 42,486 Subtotal $ 42,486 Report Page #31