Encore Community Development District Financial Statements (Unaudited) February 28, 2019 Prepared by: Rizzetta & Company, Inc. encorecdd.org rizzetta.com
Balance Sheet As of 2/28/2019 (In Whole Numbers) Chiller Reserve General Fund Chiller Operation Fund General Fixed Assets Account Group Total Assets Cash In Bank 211,412 99,856 0 0 311,268 Investments - Reserves 0 0 1,241,177 0 1,241,177 Accounts Receivable 56,502 9,545 360,000 0 426,048 Allowance for Doubtful Accounts (3,964) 0 (220,000) 0 (223,964) Prepaid Expenses 0 0 0 0 0 Deposits Paid 2,500 16,215 0 0 18,715 Due From Other Funds 4,950 0 0 0 4,950 Fixed Assets 0 0 0 3,651,145 3,651,145 Total Assets 271,400 125,617 1,381,177 3,651,145 5,429,339 Liabilities Accounts Payable 643 68 0 0 711 Accrued Expenses Payable 1,439 18,635 0 0 20,074 Other Current Liabilities 0 3,991 0 0 3,991 Deposits Held 0 42,265 0 0 42,265 Due to Developer 0 49,000 0 0 49,000 Due To Other Funds 0 4,950 0 0 4,950 Total Liabilities 2,083 118,908 0 0 120,991 Fund Equity & Other Credits Beginning Fund Balance 105,733 0 1,236,041 3,651,145 4,992,920 Net Change in Fund Balance 163,584 6,709 145,136 0 315,429 Total Fund Equity & Other Credits 269,318 6,709 1,381,177 3,651,145 5,308,349 Total Liabilities & Fund Equity 271,400 125,617 1,381,177 3,651,145 5,429,339
Statement of Revenues and Expenditures 001 - General Fund From 10/1/2018 Through 2/28/2019 (In Whole Numbers) Percent Annual Budget Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Special Assessments Tax Roll 100,790 100,790 101,473 683 (0.67)% Off Roll 199,516 199,516 199,516 0 0.00% Total Revenues 300,306 300,306 300,990 684 (0.23)% Expenditures Legislative Supervisor Fees 11,400 5,700 2,400 3,300 78.94% Financial & Administrative Administrative Services 3,000 1,250 1,250 0 58.33% District Management 27,295 11,373 11,373 0 58.33% District Engineer 10,000 4,167 2,465 1,702 75.35% Assessment Roll 5,000 5,000 5,000 0 0.00% Accounting Services 4,260 1,775 4,167 (2,392) 2.19% Auditing Services 4,100 0 500 (500) 87.80% Public Officials Liability Insurance 3,025 3,025 1,593 1,432 47.34% Legal Advertising 1,800 750 322 429 82.13% Miscellaneous Mailings 2,000 833 564 269 71.78% Dues, Licenses & Fees 175 175 175 0 0.00% Website Hosting, Maintenance, Backup 1,200 500 500 0 58.33% Legal Counsel District Counsel 15,000 6,250 1,625 4,626 89.17% Electric Utility Services Utility Services 14,000 5,833 5,672 161 59.48% Street Lights 1,000 417 259 158 74.13% Solar Energy Solar System Maintenance 1,500 625 0 625 100.00% Stormwater Control Stormwater System Maintenance 31,520 13,133 11,800 1,333 62.56% Other Physical Environment Property & Casualty Insurance 3,300 3,300 8,565 (5,265) (159.53)% Landscape Maintenance 57,489 23,954 24,780 (827) 56.89% Irrigation Maintenance 2,661 1,109 665 444 75.00% Irrigation Repairs 5,000 2,083 3,404 (1,321) 31.92% Landscape Replacement Plants, Shrubs, 15,000 6,250 3,841 2,409 74.39% Trees Palm Tree Injection Treatment 2,298 958 575 383 75.00% Annual Mulching 12,258 5,108 0 5,108 100.00% Field Services 7,200 3,000 3,000 0 58.33% Holiday Decorations 41,325 41,325 41,325 0 0.00% Road & Street Facilities Street Sign Repair & Replacement 1,500 625 0 625 100.00% Electrical Maintenance 15,000 6,250 1,588 4,663 89.41% Contingency
Statement of Revenues and Expenditures 001 - General Fund From 10/1/2018 Through 2/28/2019 (In Whole Numbers) Percent Annual Budget Annual Budget YTD Budget YTD Actual YTD Variance Remaining Miscellaneous Contingency 1,000 417 0 417 100.00% Total Expenditures 300,306 155,184 137,405 17,778 54.24% Excess of Revenue Over (Under) Expenditures 0 145,122 163,584 18,462 0.00% Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 145,122 163,584 18,462 0.00% Fund Balance, Beginning of Period 0 0 105,733 105,733 0.00% Fund Balance, End of Period 0 145,122 269,318 124,195 0.00%
Statement of Revenues and Expenditures 401 - Chiller Operation From 10/1/2018 Through 2/28/2019 (In Whole Numbers) Percent Annual Budget Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Charges for Services Usage Rate Collections 450,000 187,500 163,068 (24,432) 63.76% Contributions & Donations From Private Sources Developer Contributions - Chiller 201,541 83,975 31,525 (52,451) 84.35% Other Miscellaneous Revenues EnerNOC 0 0 5,618 5,618 0.00% Total Revenues 651,541 271,475 200,211 (71,265) 69.27% Expenditures Financial & Administrative District Engineer 2,400 1,000 866 134 63.93% Rate Consulting Services 15,000 0 0 0 100.00% Accounting Services 10,000 4,167 1,775 2,392 82.25% Legal Counsel District Counsel 5,000 2,083 0 2,083 100.00% Electric Utility Services Utility Services 380,000 158,333 96,195 62,139 74.68% Water-Sewer Combination Services Utility Services 15,000 6,250 3,363 2,887 77.58% Other Physical Environment Property & Casualty Insurance 42,731 42,731 19,850 22,881 53.54% Parks & Recreation Telephone, Fax, Internet 3,410 1,421 1,454 (33) 57.37% Maintenance & Monitoring Contracts 168,000 70,000 70,000 0 58.33% Contingency Miscellaneous Contingency 10,000 4,167 0 4,167 100.00% Total Expenditures 651,541 290,152 193,502 96,650 70.30% Excess of Revenue Over (Under) Expenditures 0 (18,676) 6,709 25,385 0.00% Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 (18,676) 6,709 25,385 0.00% Fund Balance, End of Period 0 (18,676) 6,709 25,385 0.00%
Statement of Revenues and Expenditures 405 - Chiller Reserve Fund From 10/1/2018 Through 2/28/2019 (In Whole Numbers) Percent Annual Budget Annual Budget YTD Budget YTD Actual YTD Variance Remaining Revenues Interest Earnings Interest Earnings 0 0 5,136 5,136 0.00% Contributions & Donations From Private Sources Developer Contributions - Chiller 280,000 140,000 140,000 0 50.00% Total Revenues 280,000 140,000 145,136 5,136 48.17% Expenditures Contingency Capital Reserves/Plant 250,000 125,000 0 125,000 100.00% Capital Reserves/Pipe 30,000 15,000 0 15,000 100.00% Total Expenditures 280,000 140,000 0 140,000 100.00% Excess of Revenue Over (Under) Expenditures 0 0 145,136 145,136 0.00% Excess of Rev./Other Sources Over (Under) Expend./Other Uses 0 0 145,136 145,136 0.00% Fund Balance, Beginning of Period 0 0 1,236,041 1,236,041 0.00% Fund Balance, End of Period 0 0 1,381,177 1,381,177 0.00%
Encore CDD Investment Summary February 28, 2019 Balance as of Account Investment February 28, 2019 The Bank of Tampa Money Market $ 142,872 The Bank of Tampa ICS Program: BOKF, National Association Money Market 245,317 Flushing Bank Money Market 245,317 U.S. Bank National Association Money Market 117,037 United Bank Money Market 245,317 Western Alliance Bank Money Market 245,317 Total Chiller Reserve Fund Investments - Reserves $ 1,241,177
Summary A/R Ledger 001 - General Fund From 2/1/2019 Through 2/28/2019 Invoice Date Customer Name Invoice Number Current Balance 5/31/2015 Housing Authority of the City of Tampa 052615-1 3,964.05 10/1/2018 Hillsborough County Tax Collector FY18-19 2,659.21 10/10/2018 Housing Authority of the City of Tampa 201-19-01 49,879.07 Total 001 - General Fund 56,502.33
Summary A/R Ledger 401 - Chiller Operation From 2/1/2019 Through 2/28/2019 Invoice Date Customer Name Invoice Number Current Balance 2/11/2019 The Reed at Encore c/o Siltek Group Inc. 5555-03-03-03 Jan19 401.72 2/11/2019 The Trio at Encore 5555-02-02-02 Jan19 9,143.49 Total 401 - Chiller Operation 9,545.21
Summary A/R Ledger 405 - Chiller Reserve Fund From 2/1/2019 Through 2/28/2019 Invoice Date Customer Name Invoice Number Current Balance 4/22/2014 Housing Authority of the City of Tampa CD0414-2 220,000.00 1/9/2018 Housing Authority of the City of Tampa CR0118-1 70,000.00 2/1/2019 Housing Authority of the City of Tampa CR0201-1 70,000.00 Total 405 - Chiller Reserve Fund 360,000.00 Report Balance 426,047.54
Aged Payables by Invoice Date Aging Date - 2/1/2019 001 - General Fund From 2/1/2019 Through 2/28/2019 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Hopping Green & Sams 2/22/2019 105665 General/Monthly Legal 205.00 Services 01/19 Cardno, Inc. 2/25/2019 514558 Engineering Services 337.50 Through 02/22/19 Yellowstone Landscape 2/28/2019 TM 4798 Irrigation Repairs 02/19 100.98 Total 001 - General Fund 643.48
Aged Payables by Invoice Date Aging Date - 2/1/2019 401 - Chiller Operation From 2/1/2019 Through 2/28/2019 Vendor Name Invoice Date Invoice Number Invoice Description Current Balance Cardno, Inc. 2/25/2019 514558 Engineering Services Through 02/22/19 67.50 Total 401 - Chiller Operation 67.50 Report Total 710.98
Notes to Unaudited Financial Statements February 28, 2019 Balance Sheet 1. For presentation purposes, the Reserves are shown in a separate fund titled Chiller Reserve Fund. Summary A/R Ledger Payment Terms 2. 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. Summary A/R Ledger Subsequent Collections 3. Chiller Fund 401 Payment for Invoice #5555-01-01-01 Jan 19 for $9,143.49 was received in March 2019. 4. Chiller Fund 401 Payment for Invoice #5555-03-03-03 Jan 19 for $401.72 was received in March 2019.