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Meadow Pointe III Community Development District

Financial Statements (Unaudited)

March 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 3/31/2018
(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	

266,716		

0		

0		

266,716		

0		

0	
Investments	1,554,448		0		1,280,671		2,835,119		0		0	
Investments - Reserves	0		913,814		0		913,814		0		0	
Accounts Receivable	83,521		0		44,991		128,512		0		0	
Prepaid Expenses	189		0		0		189		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	57,815		0		0		57,815		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,325,662	
Amount To be Provided Debt Service	0		0		0		0		0		9,589,338	
Fixed Assets	0		0		0		0		10,515,038		0	
Total Assets	 	1,981,830 		 	913,814 		 	1,325,662 		 	4,221,306 		 	10,515,038 		 	10,915,000 	

Liabilities												
Accounts Payable	69,514		0		0		69,514		0		0	
Sales Tax Payable	260		0		0		260		0		0	
Accrued Expenses Payable	33,206		0		0		33,206		0		0	
Due to Other Funds	0		57,815		0		57,815		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,915,000	
Total Liabilities	102,979		57,815		0		160,794		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	1,114,076		15,418		706,342		1,835,836		0		0	
Total Fund Equity & Other Credits	1,878,851		855,999		1,325,662		4,060,512		10,515,038		0	

Total Liabities & Fund Equity	 	1,981,830	 	913,814	 	1,325,662	 	4,221,306	 	10,515,038	 	10,915,000 

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	3,312	3,312	0.00%	
Special Assessments						
Tax Roll	1,747,009	1,747,009	1,750,790	3,781	(0.21)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		5,000		2,644		(2,356)		73.55%	
Non-Resident Annual Fees	0		0		350		350		0.00%	
Key Fobs	0		0		206		206		0.00%	
Remotes	0		0		3,542		3,542		0.00%	
Cell Tower Lease	28,262		14,131		14,131		(0)		50.00%	
Total Revenues	1,785,271		1,766,140		1,774,976		8,836		0.58%	

Expenditures
Legislative
Supervisor Fees	16,000	8,000	5,600	2,400	65.00%	
Financial & Administrative						
Administrative Services	5,800	2,900	2,900	0	50.00%	
District Management	32,500	16,250	16,250	0	50.00%	
District Engineer	20,000	10,000	3,823	6,177	80.88%	
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	2,500	2,500	0	49.99%	
Accounting Services	21,000	10,500	10,500	0	50.00%	
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	500	317	183	68.32%	
Dues, Licenses & Fees	450	450	225	225	50.00%	
Website Maintenance	2,400	1,200	159	1,041	93.37%	
Legal Counsel						
District Counsel	18,000	9,000	9,107	(107)	49.40%	
Law Enforcement						
Contracted Deputy Services	94,000	47,000	54,433	(7,433)	42.09%	
Electric Utility Services						
Utility Services	31,000	15,500	13,986	1,514	54.88%	
Street Lighting	85,000	42,500	48,874	(6,374)	42.50%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	86,434	84,750	1,684	50.97%	
Garbage - Recreation Facility	800	400	396	4	50.50%	

Solid Waste Assessment Recreational Facility
Water-Sewer Combination Services

1,000	1,000	934	66	6.57%

Utility - Recreation Facilities	3,000	1,500	1,574	(74)	47.52%	
Mitigation Area Monitoring & Maintenance	4,810	2,405	1,495	910	68.91%	
Aquatic Plant Replacement	7,500	3,750	0	3,750	100.00%	
Aquatic Contract	52,000	26,000	34,313	(8,313)	34.01%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	2,500	0	2,500	100.00%	
Other Physical Environment						
Field Operations	8,700	4,350	5,100	(750)	41.37%	
Property Insurance	7,600	7,600	6,720	880	11.57%	
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	325	0	325	100.00%	
Entry & Walls Maintenance	5,000	2,500	1,450	1,050	71.00%	
Landscape Maintenance	166,000	83,000	99,362	(16,362)	40.14%	
Irrigation Repairs & Maintenance	20,000	10,000	9,479	521	52.60%	
Annual Color Rotation	20,000	10,000	298	9,702	98.51%	
Landscape Replacement Plants, Shrubs, Trees	40,000	20,000	19,047	953	52.38%	
Mulch Installation	38,000	19,000	24,181	(5,181)	36.36%	
Landscape - Fertilizer Applications	30,000	15,000	17,950	(2,950)	40.16%	
Tree Trimming/Removal Services	10,800	5,400	1,625	3,775	84.95%	
Fire Ant Treatment	10,000	5,000	0	5,000	100.00%	
Landscape- Pest Control	5,300	2,650	2,625	25	50.47%	
Well Maintenance	6,000	3,000	0	3,000	100.00%	
Lift Station Maintenance	10,000	5,000	304	4,696	96.96%	
Wildlife Management Services	0	0	4,150	(4,150)	0.00%	
Miscellaneous Expenses	18,000	9,000	239	8,761	98.67%	
Road & Street Facilities						
Gate Maintenance	20,000	10,000	12,305	(2,305)	38.47%	
Gate Phone	7,500	3,750	3,707	43	50.57%	
Sidewalk Repair & Maintenance	10,000	5,000	0	5,000	100.00%	
Street Sign Repairs & Replacement	1,000	500	1,040	(540)	(4.00)%	
Roadway Repair & Maintenance	5,000	2,500	0	2,500	100.00%	
Street Light/Decorative Light Maintenance	2,000	1,000	0	1,000	100.00%	

Stormwater Control

Parking Lot Repair & Maintenance	5,000	2,500	0	2,500	100.00%	
Parks & Recreation
Management Contract	275,765	137,883	87,642	50,240	68.21%	
Pool Repairs	5,000	2,500	1,493	1,007	70.13%	
Pool/Water Park/Fountain Maintenance	5,000	2,500	7,112	(4,612)	(42.23)%	
Facilities - Pest Control	550	275	270	5	50.90%	
Facility A/C & Heating Maintenance & Repair	10,000	5,000	282	4,718	97.18%	
Playground Equipment/Maintenance	1,500	750	0	750	100.00%	
Operating Supplies	4,000	2,000	7,412	(5,412)	(85.30)%	
Dog Waste Station Supplies	1,500	750	793	(43)	47.13%	
Vehicle Maintenance	2,000	1,000	988	12	50.62%	
Miscellaneous Expenses	5,000	2,500	3,377	(877)	32.46%	
Security System Monitoring & Maintenance	2,000	1,000	1,102	(102)	44.92%	
Clubhouse Internet, Cable, Phone	3,500	0	610	(610)	82.58%	
Athletic/Park Court/Field Repairs	1,500	750	190	560	87.33%	
Boardwalk & Bridge Maintenance	10,000	5,000	0	5,000	100.00%	
Computer Support/Maintenance/Repairs	1,000	500	1,600	(1,100)	(60.00)%	
Fitness Equipment Maintenance/Repairs	2,000	1,000	176	824	91.20%	
Special Events						
Special Events	7,500	3,750	0	3,750	100.00%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	49,333	0	49,333	100.00%	
Street Tree Removal	124,375	62,187	0	62,187	100.00%	
Street Tree Install	135,993	67,997	0	67,997	100.00%	
Contingency						
Capital Outlay	24,000		12,000		18,327		(6,327)		23.63%	
Reserve Study	5,000		2,500		0		2,500		100.00%	
Total Expenditures	1,785,271		906,633		660,899		245,733		62.98%	

Excess of Revenues Over (Under) Expenditures	
0		
859,507		
1,114,076		
254,569		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
859,507		
1,114,076		
254,569		
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 		 	859,507 		 	1,878,851 		 	1,019,343 		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		174,871		3,713		2.17%	

Expenditures
Contingency
Asset Replacement Reserve	53,597		19,845		33,752		62.97%	
Road Reserves	117,561		139,609		(22,048)		(18.75)%	
Total Expenditures	171,158		159,454		11,704		6.84%	

Excess of Revenues Over (Under) Expenditures	
0		
15,418		
15,418		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
15,418		
15,418		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0 		 	855,999 		 	855,999 		 	0.00%	

Tax Roll	587,460		588,792		1,332		0.22%	
Total Revenues	587,460		590,924		3,464		0.59%	

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		
444,963		
444,963		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
444,963		
444,963		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0 		 	906,452 		 	906,452 		 	0.00%	

Tax Roll	353,623		354,425		801		0.22%	
Total Revenues	353,623		355,654		2,031		0.57%	

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		
261,379		
261,379		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
261,379		
261,379		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0 		 	419,211 		 	419,211 		 	0.00%	

Meadow Pointe III CDD Investment Summary March 31, 2018

Balance as of
Account	Investment	March 31, 2018

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

$	248,308

Bank of China, New York, NY	Money Market Account	245,039
Capital Bank	Money Market Account	245,161
EagleBank	Money Market Account	245,166
First National Bank of Omaha	Money Market Account	66,872
Flushing Bank	Money Market Account	40
Morton Community Bank	Money Market Account	245,154
Oritani Bank	Money Market Account	8
Pinnacle Bank	Money Market Account	245,165
The Park National Bank	Money Market Account	13,449
Western Alliance Bank	Money Market Account	86
Total General Fund Investments     $	1,554,448 

The Bank of Tampa ICS Program:
Road Reserve
Bank of China, New York, NY	Money Market Account		$	127	
Great Western Bank	Money Market Account		245,033	
Morton Community Bank	Money Market Account		13	
Oritani Bank	Money Market Account		44	
Pinnacle Bank	Money Market Account		1	
The Park National Bank	Money Market Account		8	
United Bank	Money Market Account		155,190	
VIST Bank	Money Market Account		245,049	
Western Alliance Bank	Money Market Account		19	
		Subtotal	645,484	

Asset Replacement
First National Bank of Omaha	Money Market Account	178,155
Flushing Bank	Money Market Account	28
Oritani Bank	Money Market Account	32
The Park National Bank	Money Market Account	146
United Bank	Money Market Account	89,961
Western Alliance Bank	Money Market Account	8

Subtotal	268,330

Total Reserve Fund Investments     $	913,814 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	402,305	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	348,804	
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	13,667	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	224,099	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments     $	1,280,671 

Total 001 - General Fund

83,520.82

2013 & 2015

2007A

Report Balance	128,512.08

Vendor Name		Date		Invoice/Credit Number		Description		Current		

John A. Johnson		
2/21/2018		
JJ 022118		
Board Of Supervisors Meeting 02/21/18			
200.00	
Ameritech Pressure Cleaning Systems, Inc.		3/5/2018		183828		High Pressure Hose & Aluminum Wand 03/18			163.04	
CGM Services, Inc.		3/12/2018		147		2nd Phase Billing 2 of 2- Red Energy Contract 17/18			282.00	
DCSI Inc.		3/13/2018		23521		Clubhouse Camera Warranty 03/18			88.89	
DCSI Inc.		3/20/2018		23526		Gate CCTV Full Ext Warranty/All Equip 03/18			395.88	
Home Depot Credit		3/21/2018		6035 3225 3190 3767		Supplies 03/18			1,455.83	
Services				03/18						
Arthur R Daddio		3/21/2018		RD 032118		Board Of Supervisors Meeting 03/21/18			200.00	
John A. Johnson		3/21/2018		JJ 032118		Board Of Supervisors Meeting 03/21/18			200.00	
Michael J Hall		3/21/2018		MH 032118		Board Of Supervisors Meeting 03/21/18			200.00	
Paul Carlucci		3/21/2018		PC 032118		Board Of Supervisors Meeting 03/21/18			200.00	
Straley Robin Vericker		3/21/2018		15546		General Legal Services 03/18			1,550.00	
Withlacoochee River Electric Cooperative, Inc.		3/22/2018		1353910 03/18		Street Lights 03/18			1,347.44	
Rizzetta Amenity Services, Inc.		3/23/2018		INV00000000004753		Amenity Management Services 03/18			27.33	
Landscape Maintenance Professionals, Inc.		3/23/2018		132019		Install Plants at Alchester Place 03/18			2,174.04	
Landscape Maintenance Professionals, Inc.		3/23/2018		132020		Install Plants Nesslewood/Sherming... Entrance 03/18			590.98	
Landscape Maintenance Professionals, Inc.		3/23/2018		132021		Install Plants Wrencrest MP Blvd Entrance 03/18			2,870.53	
Pasco County Utilities		3/26/2018		10233837		1500 Meadow Pointe Blvd 02/18			331.07	
Florida Operators and Controls, Inc.		3/26/2018		115223		35 Multicode Remotes 03/18			452.03	
Imperial Stone Works		3/27/2018		3212018DP		Deposit on Vanity and Sinks 03/18			1,770.00	

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Whitaker Contracting Corp		
3/27/2018		
3-27-18		
10% Down Payment Pavement Project, Job 18508 03/18			
53,146.80	
Suncoast Pool Service		3/29/2018		4391		Replace Control Board & ADA Lift Cover 03/18			1,084.00	
Times Publishing Company		3/30/2018		616007 03/30/18		Legal Advertising 03/18			102.40	
CINTAS Corporation #074		3/30/2018		074817383		Supplies 03/18			83.44	
Landscape Maintenance Professionals, Inc.		4/1/2018		132122		Remove Dead Tree at Pond 6, Hillhurst Crossing 03/18			300.00	
Landscape Maintenance Professionals, Inc.		4/2/2018		132164		Install Summer Annual Rotation 03/18			298.00	
						
Total 001 - General Fund			
69,513.70	

Report Total									
69,513.70	

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

Balance Sheet

Trust statement activity has been recorded through 03/31/18.
See EMMA (Electronic Municipal Market Access) at https://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 $47,923.19 was received in April 2018.
Debt Service Fund 200 – Payment for Invoice FY17-18 in the amount of $16,114.97 was received in April 2018.
Debt Service Fund 202 – Payment for Invoice FY17-18 in the amount of $9,700.45 was received in April 2018.