Bridgewater of Wesley Chapel Community Development District Financial Statements (Unaudited) October 31, 2018 Prepared by: Rizzetta & Company, Inc. bwcdd.org rizzetta.com
Balance Sheet As of 10/31/2018 (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 60,230 0 0 60,230 0 0 Investments 923,421 0 245,933 1,169,354 0 0 Investments - Reserves 0 41,294 0 41,294 0 0 Accounts Receivable 774,191 55,000 354,315 1,183,506 0 0 Prepaid Expenses 0 0 0 0 0 0 Deposits 598 0 0 598 0 0 Due From Other Funds 0 0 0 0 0 0 Amount Available in Debt Service 0 0 0 0 0 600,247 Amount To Be Provided For Debt Service 0 0 0 0 0 3,789,753 Fixed Assets 0 0 0 0 5,753,025 0 Total Assets 1,758,439 96,294 600,247 2,454,981 5,753,025 4,390,000 Liabilities Accounts Payable 37,468 0 0 37,468 0 0 Accrued Expenses Payable 5,674 0 0 5,674 0 0 Due To Other Funds 0 0 0 0 0 0 Revenue Bonds Payable--Long Term 0 0 0 0 0 4,390,000 Total Liabilities 43,142 0 0 43,142 0 4,390,000 Fund Equity & Other Credits Beginning Fund Balance 1,011,169 41,254 245,557 1,297,979 5,753,025 0 Net Change in Fund Balance 704,128 55,041 354,691 1,113,860 0 0 Total Fund Equity & Other Credits 1,715,297 96,294 600,247 2,411,839 5,753,025 0 Total Liabilities & Fund Equity 1,758,439 96,294 600,247 2,454,981 5,753,025 4,390,000
Statement of Revenues and Expenditures 001 - General Fund (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 837 837 0.00% Special Assessments Tax Roll 773,012 773,012 773,011 (1) 0.00% Other Miscellaneous Revenues HOA Shared Cost 0 0 1,180 1,180 0.00% Total Revenues 773,012 773,012 775,028 2,016 (0.26)% Expenditures Legislative Supervisor Fees 12,000 1,000 1,000 0 91.66% Financial & Administrative Administrative Services 5,400 450 450 0 91.66% District Management 25,700 2,142 2,142 0 91.66% District Engineer 10,000 833 300 533 97.00% Disclosure Report 1,000 1,000 0 1,000 100.00% Trustees Fees 4,000 943 943 0 76.42% Tax Collector/Property Appraiser 150 0 0 0 100.00% Fees Financial & Revenue Collections 5,000 417 417 0 91.66% Assessment Roll 5,000 5,000 5,000 0 0.00% Accounting Services 15,000 1,250 1,250 0 91.66% Auditing Services 5,000 0 0 0 100.00% Arbitrage Rebate Calculation 650 650 0 650 100.00% Rentals & Leases 600 50 0 50 100.00% Public Officials Liability 3,000 3,000 2,250 750 25.00% Insurance Legal Advertising 1,000 83 117 (34) 88.28% Dues, Licenses & Fees 225 175 175 0 22.22% Website Hosting, Maintenance, 1,200 100 100 0 91.66% Backup Legal Counsel District Counsel 12,000 1,000 894 106 92.55% Law Enforcement Deputy 27,500 2,292 2,360 (68) 91.41% Electric Utility Services Utility Services 40,500 3,375 1,910 1,465 95.28% Street Lights 31,352 2,613 2,539 74 91.90% Stormwater Control Fountain Service Repairs & 1,500 125 0 125 100.00% Maintenance Aquatic Maintenance 27,600 2,300 2,300 0 91.66%
Statement of Revenues and Expenditures 001 - General Fund (In Whole Numbers) Annual Budget Percent Annual Budget YTD Budget YTD Actual YTD Variance Remaining Midge Fly Treatment 90,000 7,500 29,414 (21,914) 67.31% Lake/Pond Bank Maintenance 40,000 3,333 0 3,333 100.00% Aquatic Plant Replacement 16,000 1,333 0 1,333 100.00% Stormwater System Maintenance 2,000 167 0 167 100.00% Other Physical Environment Property/Casualty/GL Insurance 3,800 3,800 2,995 805 21.18% Entry & Walls Maintenance 2,500 208 0 208 100.00% Landscape Maintenance 102,000 8,500 10,200 (1,700) 90.00% Irrigation Repair & Maintenance 5,000 417 195 222 96.10% Landscape Replacement Plants, 25,000 2,083 1,485 598 94.06% Shrubs, Trees Landscape - Mulch 25,000 2,083 0 2,083 100.00% Fire Ant Treatment 4,000 333 0 333 100.00% Annuals - 4 Rotations 4,800 400 0 400 100.00% Tree Trimming Services 2,500 208 200 8 92.00% Field Services 7,200 600 600 0 91.66% Road & Street Facilities Roadway Repair & Maintenance 5,000 417 0 417 100.00% Sidewalk Repair & Maintenance 10,000 833 0 833 100.00% Street Sign Repair & Replacement 1,500 125 0 125 100.00% Street Light/Decorative Light Maintenance 1,500 125 0 125 100.00% Parks & Recreation Management Contract 6,285 524 556 (32) 91.15% Contingency Miscellaneous Contingency 183,550 15,296 1,109 14,187 99.39% Total Expenditures 773,012 77,084 70,900 6,184 90.83% Excess of Revenues Over (Under) Expenditures 0 695,928 704,128 8,200 0.00% Excess Of Rev./Other Sources Over (Under) Expend./Other Uses 0 695,928 704,128 8,200 0.00% Fund Balance, Beginning of Period 0 0 1,011,169 1,011,169 0.00% Fund Balance, End of Period 0 695,928 1,715,297 1,019,368 0.00%
Statement of Revenues and Expenditures 005 - Reserve Fund (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings 0 41 41 0.00% Special Assessments Tax Roll 55,000 55,000 0 0.00% Total Revenues 55,000 55,041 41 0.07% Expenditures Contingency Capital Reserves 55,000 0 55,000 100.00% Total Expenditures 55,000 0 55,000 100.00% Excess of Revenues Over (Under) Expenditures 0 55,041 55,041 0.00% Exc. Of Rev./Other Sources Over/(Under) Expend./Other Uses 0 55,041 55,041 0.00% Fund Balance, Beginning of Period 0 41,254 41,254 0.00% Fund Balance, End of Period 0 96,294 96,294 0.00%
Statement of Revenues and Expenditures 200 - Debt Service Fund (In Whole Numbers) Annual Budget Current Period Actual Budget To Actual Variance Budget Percent Remaining Revenues Interest Earnings Interest Earnings 0 376 376 0.00% Special Assessments Tax Roll 354,315 354,315 0 0.00% Total Revenues 354,315 354,691 376 0.11% Expenditures Debt Service Interest 169,315 0 169,315 100.00% Principal 185,000 0 185,000 100.00% Total Expenditures 354,315 0 354,315 100.00% Excess of Revenues Over (Under) Expenditures 0 354,691 354,691 0.00% Exc. Of Rev./Other Sources Over/(Under) Expend./Other Uses 0 354,691 354,691 0.00% Fund Balance, Beginning of Period 0 245,557 245,557 0.00% Fund Balance, End of Period 0 600,247 600,247 0.00%
Bridgewater of Wesley Chapel CDD Investment Summary October 31, 2018 Balance as of Account Investment October 31, 2018 Bank of Tampa Money Market $ 95,166 Bank of Tampa ICS Program: The Huntington National Bank Money Market 245,242 The Park National Bank Money Market 133,824 United Bank Money Market 245,242 Western Alliance Bank Money Market 203,947 Total General Fund Investments $ 923,421 Bank of Tampa ICS Infrastructure Repairs: United Bank Money Market $ 41,260 Bank of Tampa ICS Road Reserve: United Bank Money Market 34 Total Reserve Fund Investments $ 41,294 US Bank Series 2014 Reserve First American Treasury Obligation Fund Class Z $ 141,308 US Bank Series 2014 Prepayment First American Treasury Obligation Fund Class Z 604 US Bank Series 2014 Revenue First American Treasury Obligation Fund Class Z 104,021 Total Debt Service Fund Investments $ 245,933
Summary A/R Ledger 001 - General Fund Current Invoice Date Customer Name Invoice Number Balance 10/1/2018 Pasco County Tax Collector FY18-19 773,011.03 10/31/2018 Bridgewater Community Association, Inc. OMR1018-1 1,180.00 Total 001 - General Fund 774,191.03
Summary A/R Ledger 005 - Reserve Fund Current Invoice Date Customer Name Invoice Number Balance 10/1/2018 Pasco County Tax Collector FY18-19 55,000.00 Total 005 - Reserve Fund 55,000.00
Summary A/R Ledger 200 - Debt Service Fund Current Invoice Date Customer Name Invoice Number Balance 10/1/2018 Pasco County Tax Collector FY18-19 354,314.82 Total 200 - Debt Service Fund 354,314.82 Report Balance 1,183,505.85
Aged Payables by Invoice Date Aging Date - 10/1/2018 001 - General Fund Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Department of Economic Opportunity Landscape Maintenance Professionals, Inc. Landscape Maintenance Professionals, Inc. Vertex Water Features, Inc. Vertex Water Features, Inc. 10/1/2018 72426 Special District Fee FY 18/19 175.00 10/18/2018 137683 Troubleshoot Irrigation Pump 10/18 10/22/2018 137803 Remove Weeping Willows at Pond 80 10/18 10/23/2018 1559 Replaced Filters in Water Features (Site 80) 10/18 10/23/2018 1562 Replaced Filters in Water Features (Site 1) 10/18 Aquatic Systems Inc 10/26/2018 0000425725 Midge Fly Treatments Sites 1-9 & 11-18 10/18 Landscape Maintenance Professionals, Inc. Landscape Maintenance Professionals, Inc. Landscape Maintenance Professionals, Inc. Landscape Maintenance Professionals, Inc. 195.00 200.00 955.00 154.00 29,414.00 10/30/2018 138243 Install Plants Bridgegate Entrance 360.00 10/18 10/31/2018 138286 Replace Jasmine along Curley 1,125.00 Berm 10/18 10/31/2018 138467 Bahia, St Augustine, Ornamental 2,385.00 Fertilizer 10/18 10/31/2018 138468 Pest Control 10/18 145.00 Pasco Sheriff's Office 11/1/2018 I-10/31/2018-02937 Extra Duty Detail 10/18 2,360.00 Total 001 - General Fund 37,468.00 Report Total 37,468.00
Notes to Unaudited Financial Statements October 31, 2018 Balance Sheet 1. Trust statement activity has been recorded through 10/31/18. 2. See EMMA (Electronic Municipal Market Access) at https://www.emma.msrb.org 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.