Meadow Pointe III Community Development District

Financial Statements (Unaudited)

January 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 1/31/2018
(In Whole Numbers)

	
General Fund		
Reserve Fund		
Debt Service Fund		Total Governmental Funds		General Fixed Assets Account Group		General Long-Term Debt Account Group	
Assets Cash	

756,978		

0		

0		

756,978		

0		

0	
Investments	1,206,273		0		1,249,113		2,455,386		0		0	
Investments - Reserves	0		1,014,147		0		1,014,147		0		0	
Accounts Receivable	138,496		0		74,606		213,102		0		0	
Prepaid Expenses	566		0		0		566		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	92,977		0		0		92,977		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,323,718	
Amount To be Provided Debt Service	0		0		0		0		0		9,591,282	
Fixed Assets	0		0		0		0		10,515,038		0	
Total Assets	 	2,214,432 		 	1,014,147 		 	1,323,718 		 	4,552,298 		 	10,515,038 		 	10,915,000 	

Liabilities												
Accounts Payable	142,670		0		0		142,670		0		0	
Sales Tax Payable	238		0		0		238		0		0	
Accrued Expenses Payable	918		0		0		918		0		0	
Due to Other Funds	0		92,977		0		92,977		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,915,000	
Total Liabilities	143,826		92,977		0		236,802		0		10,915,000	

Fund Equity & Other Credits												
Beginning Fund Balance	764,774		840,582		619,320		2,224,676		10,515,038		0	
Net Change in Fund Balance	1,305,832		80,589		704,398		2,090,819		0		0	
Total Fund Equity & Other Credits	2,070,606		921,171		1,323,718		4,315,495		10,515,038		0	

Total Liabities & Fund Equity	 	2,214,432	 	1,014,147	 	1,323,718	 	4,552,298	 	10,515,038	 	10,915,000 

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	1,776	1,776	0.00%	
Special Assessments						
Tax Roll	1,747,009	1,747,009	1,750,682	3,673	(0.21)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		3,333		1,831		(1,502)		81.68%	
Non-Resident Annual Fees	0		0		210		210		0.00%	
Key Fobs	0		0		140		140		0.00%	
Remotes	0		0		2,500		2,500		0.00%	
Cell Tower Lease	28,262		9,421		9,421		(0)		66.66%	
Total Revenues	1,785,271		1,759,763		1,766,561		6,798		1.05%	

Expenditures
Legislative
Supervisor Fees	16,000	5,333	3,800	1,533	76.25%	
Financial & Administrative						
Administrative Services	5,800	1,933	1,933	0	66.66%	
District Management	32,500	10,833	10,833	0	66.66%	
District Engineer	20,000	6,667	1,933	4,734	90.33%	
Disclosure Report	3,100	3,100	3,000	100	3.22%	
Trustees Fees	9,000	9,000	8,081	919	10.20%	
Tax Collector /Property Appraiser Fees	150	0	0	0	100.00%	
Financial & Revenue Collections	5,000	1,667	1,667	0	66.66%	
Accounting Services	21,000	7,000	7,000	0	66.66%	
Auditing Services	3,550	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,950	0	0	0	100.00%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Public Officials Liability Insurance	2,129	2,129	2,750	(621)	(29.16)%	
Legal Advertising	1,000	333	119	214	88.08%	
Dues, Licenses & Fees	450	450	225	225	50.00%	
Website Maintenance	2,400	800	159	641	93.37%	
Legal Counsel						
District Counsel	18,000	6,000	5,192	808	71.15%	
Law Enforcement						
Contracted Deputy Services	94,000	31,333	38,915	(7,582)	58.60%	
Electric Utility Services						
Utility Services	31,000	10,333	9,425	908	69.59%	
Street Lighting	85,000	28,333	32,228	(3,894)	62.08%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	57,623	56,500	1,123	67.31%	
Garbage - Recreation Facility	800	267	264	3	67.00%	

Solid Waste Assessment Recreational Facility
Water-Sewer Combination Services

1,000	1,000	934	66	6.57%

Utility - Recreation Facilities	3,000	1,000	999	1	66.69%
Stormwater Control						
Mitigation Area Monitoring & Maintenance	4,810	1,603	0	1,603	100.00%	
Aquatic Plant Replacement	7,500	2,500	0	2,500	100.00%	
Aquatic Contract	52,000	17,333	20,320	(2,987)	60.92%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	1,667	0	1,667	100.00%	
Other Physical Environment						
Field Operations	8,700	2,900	2,900	0	66.66%	
Property Insurance	7,600	7,600	6,343	1,257	16.53%	
General Liability Insurance	3,850	3,850	3,000	850	22.07%	
Flood Insurance	2,015	2,015	2,175	(160)	(7.94)%	
Street Light Deposit Bond	650	217	0	217	100.00%	
Entry & Walls Maintenance	5,000	1,667	800	867	84.00%	
Landscape Maintenance	166,000	55,333	66,216	(10,883)	60.11%	
Irrigation Repairs & Maintenance	20,000	6,667	9,050	(2,384)	54.74%	
Annual Color Rotation	20,000	6,667	0	6,667	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	13,333	13,412	(79)	66.47%	
Mulch Installation	38,000	12,667	24,181	(11,514)	36.36%	
Landscape - Fertilizer Applications	30,000	10,000	9,200	800	69.33%	
Tree Trimming/Removal Services	10,800	3,600	920	2,680	91.48%	
Fire Ant Treatment	10,000	3,333	0	3,333	100.00%	
Landscape- Pest Control	5,300	1,767	2,125	(358)	59.90%	
Well Maintenance	6,000	2,000	0	2,000	100.00%	
Lift Station Maintenance	10,000	3,333	228	3,105	97.72%	
Miscellaneous Expenses	18,000	6,000	0	6,000	100.00%	
Road & Street Facilities						
Gate Maintenance	20,000	6,667	9,441	(2,775)	52.79%	
Gate Phone	7,500	2,500	2,472	28	67.03%	
Sidewalk Repair & Maintenance	10,000	3,333	0	3,333	100.00%	
Street Sign Repairs & Replacement	1,000	333	968	(634)	3.24%	
Roadway Repair & Maintenance	5,000	1,667	0	1,667	100.00%	
Street Light/Decorative Light Maintenance	2,000	667	0	667	100.00%	

Parking Lot Repair & Maintenance	5,000	1,667	0	1,667	100.00%	
Parks & Recreation
Management Contract	275,765	91,922	58,517	33,404	78.78%	
Pool Repairs	5,000	1,667	0	1,667	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	1,667	4,580	(2,913)	8.40%	
Facilities - Pest Control	550	183	180	3	67.27%	
Facility A/C & Heating Maintenance & Repair	10,000	3,333	0	3,333	100.00%	
Playground Equipment/Maintenance	1,500	500	0	500	100.00%	
Operating Supplies	4,000	1,333	4,485	(3,151)	(12.11)%	
Dog Waste Station Supplies	1,500	500	238	262	84.13%	
Vehicle Maintenance	2,000	667	759	(92)	62.04%	
Miscellaneous Expenses	5,000	1,667	2,587	(920)	48.26%	
Security System Monitoring & Maintenance	2,000	667	745	(78)	62.76%	
Clubhouse Internet, Cable, Phone	3,500	0	411	(411)	88.27%	
Athletic/Park Court/Field Repairs	1,500	500	190	310	87.33%	
Boardwalk & Bridge Maintenance	10,000	3,333	0	3,333	100.00%	
Computer Support/Maintenance/Repairs	1,000	333	1,200	(867)	(20.00)%	
Fitness Equipment Maintenance/Repairs	2,000	667	0	667	100.00%	
Special Events						
Special Events	7,500	2,500	0	2,500	100.00%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	32,889	0	32,889	100.00%	
Street Tree Removal	124,375	41,458	0	41,458	100.00%	
Street Tree Install	135,993	45,331	0	45,331	100.00%	
Contingency						
Capital Outlay	24,000		8,000		18,327		(10,327)		23.63%	
Reserve Study	5,000		1,667		0		1,667		100.00%	
Total Expenditures	1,785,271		616,803		460,728		156,075		74.19%	

Excess of Revenues Over (Under) Expenditures	
0		
1,142,960		
1,305,832		
162,872		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,142,960		
1,305,832		
162,872		
0.00%	

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Fund Balance, Beginning of Period	

0		

0		

764,774		

764,774		

0.00%	
Fund Balance, End of Period	 	0 		 	1,142,960 		 	2,070,606 		 	927,646 		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		173,566		2,408		1.41%	

Expenditures
Contingency
Asset Replacement Reserve	53,597		6,515		47,083		87.84%	
Road Reserves	117,561		86,462		31,099		26.45%	
Total Expenditures	171,158		92,977		78,182		45.68%	

Excess of Revenues Over (Under) Expenditures	
0		
80,589		
80,589		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
80,589		
80,589		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0 		 	921,171 		 	921,171 		 	0.00%	

Tax Roll	587,460		588,755		1,295		0.22%	
Total Revenues	587,460		589,756		2,296		0.39%	

Expenditures								
Debt Service								
Interest	292,460		140,961		151,499		51.80%	
Principal	295,000		5,000		290,000		98.30%	
Total Expenditures	587,460		145,961		441,499		75.15%	

Excess of Revenues Over (Under) Expenditures	
0		
443,795		
443,795		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
443,795		
443,795		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0 		 	905,284 		 	905,284 		 	0.00%	

Interest Earnings	0		475		475		0.00%	
Special Assessments								
Tax Roll	353,623		354,403		780		0.22%	
Total Revenues	353,623		354,878		1,255		0.35%	

Expenditures								
Debt Service								
Interest	188,623		94,275		94,348		50.01%	
Principal	165,000		0		165,000		100.00%	
Total Expenditures	353,623		94,275		259,348		73.34%	

Excess of Revenues Over (Under) Expenditures	
0		
260,603		
260,603		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
260,603		
260,603		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0 		 	418,435 		 	418,435 		 	0.00%	

Meadow Pointe III CDD Investment Summary January 31, 2018

Balance as of
Account	Investment	January 31, 2018

The Bank of Tampa	Money Market Account The Bank of Tampa ICS Program:

$	248,233

Bank of China, New York, NY	Money Market Account	245,161
Bremer Bank, National Association	Money Market Account	23
Coulee Bank	Money Market Account	6
EagleBank	Money Market Account	5
First Tennessee Bank Natl Assn	Money Market Account	41
Flushing Bank	Money Market Account	245,161
Independent Bank	Money Market Account	222,547
Morton Community Bank	Money Market Account	52
Pinnacle Bank	Money Market Account	6
West Bank	Money Market Account	245,038
Total General Fund Investments     $	1,206,273 

The Bank of Tampa ICS Program:
Road Reserve
BOKF, National Association	Money Market Account		$	154,262	
Bank of China, New York, NY	Money Market Account		5	
Bremer Bank, National Association	Money Market Account		22	
CASS COMMERCIAL BANK	Money Market Account		245,125	
Independent Bank	Money Market Account		3	
Morton Community Bank	Money Market Account		47	
Newtown Savings Bank	Money Market Account		245,012	
Renasant Bank	Money Market Account		3	
United Bank	Money Market Account		143	
Venture Bank	Money Market Account		24	
Western Alliance Bank	Money Market Account		3	
		Subtotal	644,649	

Asset Replacement
BOKF, National Association	Money Market Account	90,792
Bremer Bank, National Association	Money Market Account	4
Coulee Bank	Money Market Account	3
First Tennessee Bank, NA	Money Market Account	29
Flushing Bank	Money Market Account	5
Independent Bank	Money Market Account	22,499
Morton Community Bank	Money Market Account	9
Renasant Bank	Money Market Account	3
The Park National Bank	Money Market Account	245,161
United Bank	Money Market Account	10,980
Venture Bank	Money Market Account	11
Western Alliance Bank	Money Market Account	2

Subtotal	369,498

Total Reserve Fund Investments     $	1,014,147 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	390,400	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	336,330	
US Bank Series 2013 Reserve	First American Treasury Obligation Fund Class Z	179,025	
US Bank Series 2013 Prepayment	First American Treasury Obligation Fund Class Z	13,641	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	216,946	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments     $	1,249,113 

10/1/2017	Pasco County Tax Collector	FY17-18	138,496.44

Total 001 - General Fund

138,496.44

2013 & 2015

2007A

Report Balance	213,102.16

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Netix Solutions, LLC		
8/6/2017		
1272		
Monthly Fee Website & Maintenance Agreement 08/17			
200.00	
Netix Solutions, LLC		9/6/2017		1277		Monthly Fee Website & Maintenance Agreement 09/17			200.00	
Netix Solutions, LLC		10/6/2017		1282		Monthly Fee Website & Maintenance Agreement 10/17			200.00	
Netix Solutions, LLC		11/6/2017		1286		Monthly Fee Website & Maintenance Agreement 11/17			200.00	
Netix Solutions, LLC		12/6/2017		1294		Monthly Fee Website & Maintenance Agreement 12/17			200.00	
Stahl & Associates		1/5/2018		012918		Utility Bond Renewal 02/13/18			566.00	
Netix Solutions, LLC		1/6/2018		1301		Monthly Fee Website & Maintenance Agreement 01/18			200.00	
TECO		1/9/2018		0311000030198 12/17		Summary Bill 12/17			8,862.93	
Rizzetta & Company, Inc.		1/15/2018		INV0000029855		Dissemination Agent Fee FY 17/18			3,000.00	
Florida Operators and Controls, Inc.		1/17/2018		114393		12 Multicode Remotes 01/18			163.48	
Landscape Maintenance Professionals, Inc.		1/18/2018		129519		Remove Stump, Bearded Oak Roadway 01/18			200.00	
Landscape Maintenance Professionals, Inc.		1/18/2018		129520		Replace Wax Myrtles with Pines, Clubhouse 01/18			8,530.00	
Landscape Maintenance Professionals, Inc.		1/18/2018		129521		Remove Live Oak, Heatherstone			500.00	
Southern Automated Access Services LLC		1/18/2018		4304		Replace Plexi Glass & Hoods (11) Tele Entris 01/18			5,050.00	
CINTAS Corporation #074		1/19/2018		074776117		Supplies 01/18			36.87	
DCSI Inc.		1/20/2018		23227		Gate CCTV Full Ext Warranty/All Equip 01/18			395.88	
Home Depot Credit		1/21/2018		6035 3225 3190 3767		Supplies 01/18			275.94	
Services				01/18						

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Signarama of New Tampa		
1/22/2018		
SAR-191		
36'' X 6'' Street Signs
(1) - 01/18			
70.36	
Southern Automated Access Services LLC		1/22/2018		4314		Restore Breaker on Gate, Whitlock 01/18			95.00	
Stantec Consulting Services Inc.		1/23/2018		1307081		Engineering Services 12/17			340.00	
Withlacoochee River Electric Cooperative, Inc.		1/23/2018		1353910 01/18		Street Lights 01/18			1,331.55	
Straley Robin Vericker		1/24/2018		15358		General Legal Services 12/17			1,135.00	
Rizzetta Amenity Services, Inc.		1/26/2018		INV00000000004547		Amenity Management Services 01/18			27.33	
Landscape Maintenance Professionals, Inc.		1/26/2018		129649		Remove Debris Behind House from Hurricane Irma 01/18			120.00	
Precision Sidewalk Safety Corp		1/27/2018		b-1398		Sidewalk Repair & Maintenance Project 01/18			86,462.00	
Pasco County Utilities		1/29/2018		10013412		1500 Meadow Pointe Blvd 12/17			263.45	
Signarama of New Tampa		1/30/2018		SAR-377		36'' X 6'' Street Signs
(4) - 01/18			249.04	
Signarama of New Tampa		1/31/2018		SAR-512		Supervisor Name Plates 01/18			192.00	
Waste Connections Of Florida		1/31/2018		3740318		Waste Disposal 01/18			14,125.04	
Landscape Maintenance Professionals, Inc.		2/1/2018		130267		Pest Control 01/18			435.00	
TECO		2/5/2018		0311000030198 01/18		Summary Bill 01/18			9,043.17	
						
Total 001 - General Fund			
142,670.04	

Report Total									
142,670.04	

Meadow Pointe III Community Development District Notes to Unaudited Financial Statements
January 31, 2018

Balance Sheet

Trust statement activity has been recorded through 01/31/18.
See EMMA (Electronic Municipal Market Access) at http://emma.msrb.org for Municipal Disclosures and Market Data.
For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund.

Summary A/R Ledger – Payment Terms

Payment terms for landowner assessments are (a) defined in the FY17-18 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

General Fund – Payment for Invoice FY17-18 in the amount of $35,276.60 was received in February 2018.
Debt Service Fund 200 – Payment for Invoice FY17-18 in the amount of $11,862.35 was received in February 2018.
Debt Service Fund 202 – Payment for Invoice FY17-18 in the amount of $7,140.57 was received in February 2018.