Meadow Pointe III Community Development District

Financial Statements (Unaudited)

April 30, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 4/30/2018
(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	

155,440		

0		

0		

155,440		

0		

0	
Investments	1,555,349		0		1,307,663		2,863,013		0		0	
Investments - Reserves	0		914,415		0		914,415		0		0	
Accounts Receivable	35,598		0		19,176		54,773		0		0	
Prepaid Expenses	189		0		0		189		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	59,585		0		0		59,585		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,326,839	
Amount To be Provided Debt Service	0		0		0		0		0		9,588,161	
Fixed Assets	0		0		0		0		10,515,038		0	
Total Assets	 	1,825,303 		 	914,415 		 	1,326,839 		 	4,066,557 		 	10,515,038 		 	10,915,000 	

Liabilities												
Accounts Payable	35,715		0		0		35,715		0		0	
Sales Tax Payable	0		0		0		0		0		0	
Accrued Expenses Payable	24,763		0		0		24,763		0		0	
Due to Other Funds	0		59,585		0		59,585		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,915,000	
Total Liabilities	60,478		59,585		0		120,063		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	1,000,051		14,249		707,519		1,721,818		0		0	
Total Fund Equity & Other Credits	1,764,825		854,830		1,326,839		3,946,494		10,515,038		0	

Total Liabities & Fund Equity	 	1,825,303	 	914,415	 	1,326,839	 	4,066,557	 	10,515,038	 	10,915,000 

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	4,213	4,213	0.00%	
Special Assessments						
Tax Roll	1,747,009	1,747,009	1,750,801	3,792	(0.21)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		5,833		3,102		(2,731)		68.97%	
Non-Resident Annual Fees	0		0		561		561		0.00%	
Key Fobs	0		0		271		271		0.00%	
Remotes	0		0		3,991		3,991		0.00%	
Cell Tower Lease	28,262		16,486		16,486		(0)		41.66%	
Total Revenues	1,785,271		1,769,329		1,779,425		10,096		0.33%	

Expenditures
Legislative
Supervisor Fees	16,000	9,333	7,400	1,933	53.75%	
Financial & Administrative						
Administrative Services	5,800	3,383	3,383	0	41.66%	
District Management	32,500	18,958	18,958	0	41.66%	
District Engineer	20,000	11,667	5,345	6,321	73.27%	
Disclosure Report	3,100	3,100	3,100	0	0.00%	
Trustees Fees	9,000	9,000	8,081	919	10.20%	
Tax Collector /Property Appraiser Fees	150	150	0	150	100.00%	
Financial & Revenue Collections	5,000	2,917	2,917	0	41.66%	
Accounting Services	21,000	12,250	12,250	0	41.66%	
Auditing Services	3,550	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,950	1,950	500	1,450	74.35%	
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	583	507	76	49.28%	
Dues, Licenses & Fees	450	450	228	222	49.33%	
Website Maintenance	2,400	1,400	159	1,241	93.37%	
Legal Counsel						
District Counsel	18,000	10,500	11,317	(817)	37.12%	
Law Enforcement						
Contracted Deputy Services	94,000	54,833	62,192	(7,359)	33.83%	
Electric Utility Services						
Utility Services	31,000	18,083	15,918	2,165	48.65%	
Street Lighting	85,000	49,583	57,199	(7,615)	32.70%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	100,840	98,875	1,964	42.80%	
Garbage - Recreation Facility	800	467	462	5	42.25%	

Solid Waste Assessment Recreational Facility
Water-Sewer Combination Services

1,000	1,000	934	66	6.57%

Utility - Recreation Facilities	3,000	1,750	1,950	(200)	34.98%	
Mitigation Area Monitoring & Maintenance	4,810	2,806	1,495	1,311	68.91%	
Aquatic Plant Replacement	7,500	4,375	0	4,375	100.00%	
Aquatic Contract	52,000	30,333	39,696	(9,363)	23.66%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	2,917	0	2,917	100.00%	
Other Physical Environment						
Field Operations	8,700	5,075	6,725	(1,650)	22.70%	
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	379	0	379	100.00%	
Entry & Walls Maintenance	5,000	2,917	1,450	1,467	71.00%	
Landscape Maintenance	166,000	96,833	115,476	(18,643)	30.43%	
Irrigation Repairs & Maintenance	20,000	11,667	10,206	1,460	48.96%	
Annual Color Rotation	20,000	11,667	686	10,981	96.57%	
Landscape Replacement Plants, Shrubs, Trees	40,000	23,333	19,047	4,286	52.38%	
Mulch Installation	38,000	22,167	47,817	(25,650)	(25.83)%	
Landscape - Fertilizer Applications	30,000	17,500	17,950	(450)	40.16%	
Tree Trimming/Removal Services	10,800	6,300	1,625	4,675	84.95%	
Fire Ant Treatment	10,000	5,833	0	5,833	100.00%	
Landscape- Pest Control	5,300	3,092	3,225	(133)	39.15%	
Well Maintenance	6,000	3,500	0	3,500	100.00%	
Lift Station Maintenance	10,000	5,833	380	5,453	96.20%	
Wildlife Management Services	0	0	5,350	(5,350)	0.00%	
Miscellaneous Expenses	18,000	10,500	286	10,214	98.41%	
Road & Street Facilities						
Gate Maintenance	20,000	11,667	13,696	(2,029)	31.51%	
Gate Phone	7,500	4,375	4,326	49	42.32%	
Sidewalk Repair & Maintenance	10,000	5,833	0	5,833	100.00%	
Street Sign Repairs & Replacement	1,000	583	1,040	(457)	(4.00)%	
Roadway Repair & Maintenance	5,000	2,917	0	2,917	100.00%	
Street Light/Decorative Light Maintenance	2,000	1,167	0	1,167	100.00%	

Stormwater Control

Parking Lot Repair & Maintenance	5,000	2,917	0	2,917	100.00%	
Parks & Recreation
Management Contract	275,765	160,863	102,197	58,666	62.94%	
Pool Repairs	5,000	2,917	1,493	1,423	70.13%	
Pool/Water Park/Fountain Maintenance	5,000	2,917	8,257	(5,340)	(65.13)%	
Facilities - Pest Control	550	321	315	6	42.72%	
Facility A/C & Heating Maintenance & Repair	10,000	5,833	282	5,551	97.18%	
Playground Equipment/Maintenance	1,500	875	0	875	100.00%	
Operating Supplies	4,000	2,333	8,312	(5,979)	(107.80)%	
Dog Waste Station Supplies	1,500	875	951	(76)	36.60%	
Vehicle Maintenance	2,000	1,167	1,240	(74)	37.98%	
Miscellaneous Expenses	5,000	2,917	4,312	(1,395)	13.75%	
Security System Monitoring & Maintenance	2,000	1,167	1,190	(24)	40.47%	
Clubhouse Internet, Cable, Phone	3,500	0	709	(709)	79.73%	
Athletic/Park Court/Field Repairs	1,500	875	285	590	81.00%	
Boardwalk & Bridge Maintenance	10,000	5,833	99	5,734	99.00%	
Computer Support/Maintenance/Repairs	1,000	583	1,800	(1,217)	(80.00)%	
Fitness Equipment Maintenance/Repairs	2,000	1,167	176	991	91.20%	
Special Events						
Special Events	7,500	4,375	39	4,336	99.47%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	57,555	0	57,555	100.00%	
Street Tree Removal	124,375	72,552	0	72,552	100.00%	
Street Tree Install	135,993	79,329	0	79,329	100.00%	
Contingency						
Capital Outlay	24,000		14,000		22,116		(8,116)		7.85%	
Reserve Study	5,000		2,917		0		2,917		100.00%	
Total Expenditures	1,785,271		1,053,647		779,374		274,273		56.34%	

Excess of Revenues Over (Under) Expenditures	
0		
715,681		
1,000,051		
284,369		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
715,681		
1,000,051		
284,369		
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 		 	715,681 		 	1,764,825 		 	1,049,144 		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		175,472		4,314		2.52%	

Expenditures
Contingency
Asset Replacement Reserve	53,597		21,615		31,982		59.67%	
Road Reserves	117,561		139,609		(22,048)		(18.75)%	
Total Expenditures	171,158		161,224		9,934		5.80%	

Excess of Revenues Over (Under) Expenditures	
0		
14,249		
14,249		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
14,249		
14,249		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0 		 	854,830 		 	854,830 		 	0.00%	

Tax Roll	587,460		588,795		1,335		0.22%	
Total Revenues	587,460		591,624		4,164		0.71%	

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		
445,663		
445,663		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
445,663		
445,663		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0 		 	907,152 		 	907,152 		 	0.00%	

Tax Roll	353,623		354,427		804		0.22%	
Total Revenues	353,623		356,130		2,507		0.71%	

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		
261,855		
261,855		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
261,855		
261,855		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0 		 	419,687 		 	419,687 		 	0.00%	

Meadow Pointe III CDD Investment Summary April 30, 2018

Balance as of
Account	Investment	April 30, 2018

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

$	248,350

Capital Bank	Money Market Account	245,161
EagleBank	Money Market Account	245,161
First National Bank of Omaha	Money Market Account	1
Flushing Bank	Money Market Account	245,075
Morton Community Bank	Money Market Account	97
Oritani Bank	Money Market Account	245,025
Pinnacle Bank	Money Market Account	245,151
The Park National Bank	Money Market Account	81,264
Western Alliance Bank	Money Market Account	64
Total General Fund Investments    $	1,555,349 

The Bank of Tampa ICS Program:
Road Reserve
Great Western Bank	Money Market Account		$	245,033	
Morton Community Bank	Money Market Account		12	
Oritani Bank	Money Market Account		52	
The Park National Bank	Money Market Account		139	
United Bank	Money Market Account		69,132	
VIST Bank	Money Market Account		245,040	
Western Alliance Bank	Money Market Account		10	
		Subtotal	559,418	

Asset Replacement
First National Bank of Omaha	Money Market Account	15,094
Flushing Bank	Money Market Account	76
Oritani Bank	Money Market Account	53
The Park National Bank	Money Market Account	163,744
United Bank	Money Market Account	176,013
Western Alliance Bank	Money Market Account	17

Subtotal	354,997

Total Reserve Fund Investments    $	914,415 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	412,482	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	359,413	
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	13,684	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	230,288	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	1,307,663 

Total 001 - General Fund

35,597.63

Total 200 - Debt Service Fund - Series 2013 & 2015

11,970.29

10/1/2017	Pasco County Tax Collector	FY17-18	7,205.55

Total 202 - Debt Service Fund - Series 2007A

7,205.55

Report Balance	54,773.47

Meadow Pointe III Community Development District
Aged Payables by Invoice Date Aging Date - 4/1/2018
001 - General Fund
From 4/1/2018 Through 4/30/2018

Vendor Name		Invoice/Credit Date		
Invoice/Credit Number		Invoice/Credit Description		
Current	

CINTAS Corporation #074		
4/13/2018		
074825519		
Supplies 04/18		
36.87	
The Pampering Plumber		4/13/2018		19411-59149		Connect Plumbing to
(4) Faucets 04/18		609.00	
DCSI Inc.		4/15/2018		23681		Gate CCTV Full Ext Warranty/All Equip 04/18		395.88	
DCSI Inc.		4/16/2018		23692		Tennis Court Access Gate 04/18		3,789.00	
Straley Robin Vericker		4/18/2018		15647		General Legal Services 03/18		1,710.00	
Rizzetta Amenity Services, Inc.		4/20/2018		INV00000000004831		Amenity Management Services 04/18		27.33	
Stantec Consulting Services Inc.		4/20/2018		1345922		Engineering Services 03/18		1,522.50	
Home Depot Credit		4/20/2018		6035 3225 3190 3767		Supplies 04/18		380.57	
Services				04/18					
Landscape Maintenance Professionals, Inc.		4/20/2018		133032		Install 622 Yards Pine Mulch 04/18		23,636.00	
Pasco County Utilities		4/23/2018		10382314		1500 Meadow Pointe Blvd 03/18		376.15	
Withlacoochee River Electric Cooperative, Inc.		4/23/2018		1353910 04/18		Street Lights 04/18		1,347.44	
Landscape Maintenance Professionals, Inc.		4/24/2018		133101		Repair Controllers in Irrigation Zones 04/18		727.00	
Michael J Hall		4/25/2018		MH 042518		Budget Workshop 04/18		200.00	
John A. Johnson		4/25/2018		JJ 042518		Budget Workshop 04/18		200.00	
Paul Carlucci		4/25/2018		PC 042518		Budget Workshop 04/18		200.00	
Arthur R Daddio		4/25/2018		RD 042518		Budget Workshop 04/18		200.00	
Times Publishing Company		4/27/2018		628793 04/27/18		Account #119369 Legal Advertising 04/18		109.60	
Florida Department of Revenue		4/30/2018		61-8015577967-4 04/18		Sales & Use Tax 04/18		247.62	
						
Total 001 - General Fund		
35,714.96	

Report Total								
35,714.96	

Meadow Pointe III Community Development District Notes to Unaudited Financial Statements
April 30, 2018

Balance Sheet

Trust statement activity has been recorded through 04/30/18.
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 $16,798.57 was received in May 2018.
Debt Service Fund 200 – Payment for Invoice FY17-18 in the amount of $5,648.80 was received in May 2018.
Debt Service Fund 202 – Payment for Invoice FY17-18 in the amount of $3,400.31 was received in May 2018.