Lake Padgett Estates Independent Special District Financial Statements (Unaudited) April 30, 2017 Prepared by: Rizzetta & Company, Inc. Wesley Chapel Office 5844 Old Pasco Road, Suite 100 Wesley Chapel, Florida 33544 813.944.1001 rizzetta.com
Balance Sheet As of 4/30/2017 (In Whole Numbers) Total Governmental General Fund Reserve Fund Funds General Fixed Assets Account Group Assets Cash in Bank 105,263 0 105,263 0 Investments 137,655 0 137,655 0 Investments - Reserves 0 370,160 370,160 0 Accounts Receivable 15,342 0 15,342 0 Prepaid Items 0 0 0 0 Deposits 1,770 0 1,770 0 Due From Other Funds 0 0 0 0 Fixed Assets 0 0 0 23,648,848 Total Assets 260,030 370,160 630,190 23,648,848 Liabilities Accounts Payable 4,260 0 4,260 0 Accrued Expenses Payable 2,726 0 2,726 0 Other Current Liabilities 18 0 18 0 Due To Other Funds 0 0 0 0 Unearned Revenue 0 0 0 0 Total Liabilities 7,003 0 7,003 0 Fund Equity & Other Credits Beginning Fund Balance 244,884 238,085 482,969 23,648,848 Net Change In Fund Balance 8,143 132,075 140,218 0 Total Fund Equity & Other Credits 253,027 370,160 623,187 23,648,848 Total Liabilities & Fund Equity 260,030 370,160 630,190 23,648,848
Statement of Revenues and Expenditures 001 - General Fund From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual YTD YTD YTD Actual Variance Percent Annual Remaining Revenues Interest Earnings Interest Earnings 0 0 32 32 0.00% Special Assessments Tax Roll 339,800 339,800 346,257 6,457 (1.90)% Other Miscellaneous Revenues Rental Revenues-Stables 2,243 1,308 1,308 0 41.66% Gate Access Card Revenues 0 0 322 322 0.00% Total Revenues 342,043 341,108 347,920 6,812 (1.72)% Expenditures Legislative Supervisor Fees 3,000 1,750 1,800 (50) 40.00% Financial & Administrative Administrative Services 5,400 3,150 3,150 0 41.66% District Management 21,600 12,600 12,600 0 41.66% District Engineer 4,000 2,333 0 2,333 100.00% Tax Collector/Property Appraiser 150 150 150 0 0.00% Fees Assessment Roll 5,000 5,000 5,000 0 0.00% Accounting Services 15,000 8,750 8,750 0 41.66% Auditing Services 3,500 0 0 0 100.00% Public Officials Liability 3,500 3,500 2,750 750 21.42% Insurance Legal Advertising 650 379 572 (193) 12.00% Dues, Licenses & Fees 395 395 175 220 55.69% Website Hosting, Maintenance, 2,200 1,283 1,330 (47) 39.54% Backup (and Email) Legal Counsel District Counsel 15,000 8,750 8,378 373 44.15% Security Operations Security Services & Patrols 16,000 9,333 5,609 3,725 64.94% Security Cameras 2,000 1,167 0 1,167 100.00% Electric Utility Services Utility Services 7,028 4,100 4,167 (67) 40.70% Garbage/Solid Waste Control Services Garbage - Parks 2,500 1,458 1,416 42 43.36% Solid Waste Assessment 3,000 1,750 2,865 (1,115) 4.49% Water-Sewer Combination Services
Statement of Revenues and Expenditures 001 - General Fund From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual YTD YTD YTD Actual Variance Percent Annual Remaining Utility Services 934 545 296 249 68.34% Portable Toilets for Parks 1,000 583 560 23 44.00% Stormwater Control Aquatic Management 5,500 3,208 6,165 (2,957) (12.09)% Stormwater Assessment 500 292 312 (20) 37.62% Other Physical Environment Field Operations 6,000 3,500 0 3,500 100.00% Property/Casualty/GL Insurance 20,000 20,000 10,887 9,113 45.56% Landscape Maintenance 7,500 4,375 1,320 3,055 82.39% Landscape Replacement Plants, 1,800 1,050 0 1,050 100.00% Shrubs, Trees Irrigation Repairs 1,000 583 0 583 100.00% Landscape Mulch 1,750 1,021 2,891 (1,870) (65.20)% General Repairs & Maintenance 5,000 2,917 120 2,796 97.59% Road & Street Facilities Gate Phones 5,300 3,092 3,586 (495) 32.33% Gate Maintenance 5,000 2,917 9,472 (6,555) (89.43)% Gate Access Control System 1,000 583 0 583 100.00% Resident ID Cards 750 438 350 88 53.33% Parks & Recreation Employee - Salaries 83,734 48,845 44,511 4,334 46.84% Employee - P/R Taxes 6,000 3,500 3,370 130 43.83% Employee - Workers' Comp 7,250 4,229 8,680 (4,451) (19.72)% Insurance Employee - Health Insurance 24,000 14,000 13,857 143 42.26% Equipment Maintenance & 2,000 1,167 759 408 62.07% Repairs Cabana Repairs 1,000 583 0 583 100.00% Vehicle Maintenance 4,000 2,333 1,591 743 60.23% Miscellaneous Supplies 7,500 4,375 6,401 (2,026) 14.65% Building Repairs & Maintenance 1,000 583 2,474 (1,891) (147.40)% Contingency Capital Outlay 7,602 4,435 3,900 535 48.69% Miscellaneous Contingency 25,000 14,583 9,564 5,020 61.74% Total Expenditures 342,043 209,585 189,777 19,808 44.52% Excess of Revenue Over (Under) Expenditures 0 131,523 158,143 26,620 0.00% Other Financing Sources (Uses) Interfund Transfer 0 0 (150,000) (150,000) 0.00%
Statement of Revenues and Expenditures 001 - General Fund From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual YTD YTD YTD Actual Variance Percent Annual Remaining Excess of Rev/Other Sources Over (Under) Exp/Other Uses 0 131,523 8,143 (123,380) 0.00% Fund Balance Beginning of Period 0 0 244,884 244,884 0.00% Fund Balance End of Period 0 131,523 253,027 121,504 0.00%
Statement of Revenues and Expenditures Reserve Fund - 005 From 10/1/2016 Through 4/30/2017 (In Whole Numbers) Annual Current Period Actual to Actual Variance Percent Remaining Revenues Interest Earnings Interest Earnings 0 56 56 0.00% Special Assessments Tax Roll 50,000 50,000 0 0.00% Total Revenues 50,000 50,056 56 0.11% Expenditures Contingency Capital Reserves 50,000 67,981 (17,981) (35.96)% Total Expenditures 50,000 67,981 (17,981) (35.96)% Excess of Revenues Over (Under) Expenditures 0 (17,925) (17,925) 0.00% Other Financing Sources/(Uses) Interfund Transfer 0 150,000 150,000 0.00% Excess of Rev/Other Sources Over (Under) Exp/Other Uses 0 132,075 132,075 0.00% Fund Balance, Beginning of Period 0 238,085 238,085 0.00% Fund Balance, End of Period 0 370,160 370,160 0.00%
Lake Padgett Estates ISD Investment Summary April 30, 2017 Balance as of Account Investment April 30, 2017 SunTrust Business Money Market $ 137,655 Total General Fund Investments $ 137,655 SunTrust- Capital Reserves Business Money Market $ 370,160 Total Reserve Fund Investments $ 370,160
Summary A/R Ledger 001 - General Fund From 4/1/2017 Through 4/30/2017 Invoice Date Customer Name Invoice Number Current Balance 10/1/2016 Pasco County Tax Collector FY 16-17 15,342.34 Total 001 - General Fund 15,342.34 Report Balance 15,342.34
Aged Payables by Invoice Date Aging Date - 3/1/2017 001 - General Fund From 4/1/2017 Through 4/30/2017 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance West Coast Rental 3/27/2017 24434 Bobcat S130 & Trailer 224.22 Pasco County Property 4/13/2017 Annual Fee FY17/18 Non-Ad Valorem Assessment 150.00 Appraiser Annual Fee FY 17/18 Frontier Communications of Florida 4/16/2017 813-235-6915-021616... 04/17 813 235 6915 04/17 48.43 Republic Services #762 4/17/2017 0762-001860926 Waste Management Services 05/17 Timothy G. Hayes & Associates Times Publishing Company 177.00 4/21/2017 27793 Legal Services 03/17 1,312.50 4/21/2017 462171 04/21/17 Legal Advertising 04/17 100.00 Duke Energy 4/21/2017 88667 82496 04/17 Summary Bill 04/17 210.71 SiteOne Landscape 4/24/2017 79325069Credit Palm & Tropical Fertilizer 03/17 (120.28) Supply, LLC Pasco Testing Lab and 4/27/2017 12020 Monthly Service/Bacteria 160.00 Sales, Inc. Sampling & Annual Nitrites 04/17 Pasco County Utilities 4/27/2017 8908623 #01104977 Civic Center Pkwy 44.55 04/17 Larry D. Berger 4/27/2017 LB042717 Board of Supervisor Meeting 50.00 Continued Meeting 04/27/17 Linda Hutchinson 4/27/2017 LH042717 Board of Supervisor Meeting 50.00 Continued Meeting 04/27/17 Margaret Bradley 4/27/2017 MB042717 Board of Supervisor Meeting 50.00 Continued Meeting 04/27/17 Pam Carr 4/27/2017 PC042717 Board of Supervisor Meeting 50.00 Continued Meeting 04/27/17 Pasco County Health Department 4/28/2017 51-60-00007 51-BID-3396304 Water Sampling of Lake Padgett Beach 07/17-06/18 600.00 Pasco County Health Department Jimmy's Sanitary Service Inc 4/28/2017 51-60-00012-51-BID-... Water Sampling East Lake Rec 600.00 Area 2 Beach 07/17-06/18 4/30/2017 26252 Portable Toilets 04/17 80.00 Duke Energy 4/30/2017 27134 46365 04/17 3125 Lake Padgett Drive 04/17 62.25 Duke Energy 4/30/2017 75350 26055 04/17 3614 Stable Ridge Ln 04/17 15.97 Duke Energy 5/9/2017 76611 91383 04/17 91383 Summary Bill 04/17 394.24 Total 001 - General Fund 4,259.59 Report Total 4,259.59
Notes to Unaudited Financial Statements April 30, 2017 Balance Sheet 1. For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund. Summary A/R Ledger Payment Terms 2. 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.