Meadow Pointe III
Community Development District
meadowpointe3.org

Proposed Budget for Fiscal Year 2018/2019 Presented by: Rizzetta & Company, Inc.

9428 Camden Field Parkway Riverview, Florida 33578
Phone: 813-533-2950

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General Fund Budget Account Category Descriptions	1	
Reserve Fund Budget Account Category Descriptions	7	
Debt Service Fund Budget Account Category Descriptions	8	
General Fund Budget for Fiscal Year 2018/2019	11	
Reserve Fund for Fiscal Year 2018/2019	13	
Debt Service Fund Budget for Fiscal Year 2018/2019	14	
Assessments Charts for Fiscal Year 2018/2019	15	
Road Reserve for Fiscal Year 2018/2019	19	

1

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

2

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.

District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.

Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to maintain the assessment roll and annually levy a Non-Ad Valorem assessment for operating and debt service expenses.

Financial & Revenue Collections: Services include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. These services include, but are not limited to, assessment roll preparation and certification, direct billings and funding request processing as well as responding to property owner questions regarding District assessments. This line item also includes the fees incurred for a Collection Agent to collect the funds for the principal and interest payment for its short- term bond issues and any other bond related collection needs. These funds are collected as prescribed in the Trust Indenture. The Collection Agent also provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.

Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.

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Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).

Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.

Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines

Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.

Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.

District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.

Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.

Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.

4

Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.

Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.

Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.

Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.

Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.

Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.

Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.

General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs

Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing.

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Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.

Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.

Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.

Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain.

Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any.

Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.

Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.

Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc.

Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.

Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

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Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.

Office Supplies: The District may have an office in its facilities which require various office related supplies.

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.

Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse

Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget

Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces.

Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.

Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

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7

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

8

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

Proposed Budget	
Meadow Pointe III Community Development District	
General Fund	
Fiscal Year 2018/2019	

Chart of Accounts Classification	Actual YTD through 02/28/18	Projected Annual Totals 2017/2018	Annual Budget for 2017/2018	Projected Budget variance for 2017/2018	
Budget for 2018/2019	Budget Increase (Decrease) vs 2017/2018	
Comments	
1									
2	REVENUES								
3									
4	Special Assessments								
5	Tax Roll*	$ 1,750,790	$ 1,750,790	$ 1,747,009	$	3,781	$ 1,766,575	$	19,566		
6	Other Miscellaneous Revenues								
7	Miscellaneous Revenues	$	2,140	$	5,136	$	10,000	$	(4,864)	$	10,000	$	-		
11	Cell Tower Lease	$	11,776	$	28,262	$	28,262	$	0	$	28,262	$	-		
12									
13	TOTAL REVENUES	$ 1,764,706	$ 1,784,188	$ 1,785,271	$	(1,083)	$ 1,804,837	$	19,566		
14									
15	Balance Forward from Prior Year	$	-	$	-	$	-	$	-	$	-	$	-		
16									
17	TOTAL REVENUES AND BALANCE FORWARD	$ 1,764,706	$ 1,784,188	$ 1,785,271	$	(1,083)	$ 1,804,837	$	19,566		
18									
19	*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.		
20									
21	EXPENDITURES - ADMINISTRATIVE								
22									
23	Legislative								
24	Supervisor Fees	$	4,600	$	11,040	$	16,000	$	4,960	$	16,000	$	-		
25	Financial & Administrative								
26	Administrative Services	$	2,417	$	5,801	$	5,800	$	(1)	$	5,800	$	-		
27	District Management	$	13,542	$	32,501	$	32,500	$	(1)	$	32,500	$	-		
28	District Engineer	$	3,323	$	7,975	$	20,000	$	12,025	$	20,000	$	-		
29	Disclosure Report	$	3,000	$	3,000	$	3,100	$	100	$	3,100	$	-		
30	Trustees Fees	$	8,081	$	8,081	$	9,000	$	919	$	10,000	$	1,000	scheduled increase	
31	Tax Collector /Property Appraiser Fees	$	-	$	-	$	150	$	150	$	150	$	-		
32	Financial & Revenue Collections	$	2,083	$	4,999	$	5,000	$	1	$	5,000	$	-		
33	Accounting Services	$	8,750	$	21,000	$	21,000	$	-	$	21,000	$	-		
34	Auditing Services	$	-	$	-	$	3,550	$	3,550	$	3,675	$	125		
35	Arbitrage Rebate Calculation	$	-	$	-	$	1,950	$	1,950	$	1,950	$	-		
36	Assessment Roll	$	5,000	$	5,000	$	5,000	$	-	$	5,000	$	-		
37	Miscellaneous Mailings	$	-	$	-	$	-	$	-	$	2,500	$	2,500	should add something	
38	Public Officials Liability Insurance	$	3,850	$	3,850	$	2,129	$	(1,721)	$	3,850	$	1,721	per broker	
39	Legal Advertising	$	119	$	286	$	1,000	$	714	$	1,000	$	-		
40	Dues, Licenses & Fees	$	225	$	540	$	450	$	(90)	$	450	$	-		
41	Website Hosting, Maintenance, Backup (and	$	159	$	382	$	2,400	$	2,018	$	2,400	$	-		
42	Legal Counsel								
43	District Counsel	$	7,557	$	18,137	$	18,000	$	(137)	$	18,000	$	-		
44									
45	Administrative Subtotal	$	62,706	$ 122,591	$ 147,029	$	24,438	$	152,375	$	5,346		
46									
47	EXPENDITURES - FIELD OPERATIONS								
48									
49	Law Enforcement								
50	Deputy	$	46,674	$ 112,018	$	94,000	$	(18,018)	$	94,000	$	-		
51	Electric Utility Services								
52	Utility Services	$	11,859	$	28,462	$	31,000	$	2,538	$	31,000	$	-		
53	Street Lights	$	40,472	$	97,133	$	85,000	$	(12,133)	$	98,000	$	13,000	based on billing trend	
54	Garbage/Solid Waste Control Services								
55	Garbage - Residential	$	84,750	$ 203,400	$ 172,868	$	(30,532)	$	203,400	$	30,532	scheduled increase	
56	Garbage - Recreation Facility	$	330	$	792	$	800	$	8	$	800	$	-		
57	Solid Waste Assessment	$	934	$	934	$	1,000	$	66	$	1,000	$	-		
58	Water-Sewer Combination Services								
59	Utility Services - Recreation Facility	$	1,243	$	2,983	$	3,000	$	17	$	3,000	$	-		
60	Stormwater Control								
61	Mitigation Area Monitoring & Maintenance	$	345	$	828	$	4,810	$	3,982	$	4,810	$	-		
62	Aquatic Plant Replacement	$	-	$	-	$	7,500	$	7,500	$	7,500	$	-		
63	Aquatic Maintenance	$	25,400	$	60,960	$	52,000	$	(8,960)	$	65,000	$	13,000	New Contract	
64	Stormwater Assessment	$	3,802	$	3,802	$	3,000	$	(802)	$	3,800	$	800	actual	
65	Stormwater System Maintenance	$	-	$	-	$	5,000	$	5,000	$	5,000	$	-		
66	Other Physical Environment								
67	Field Services	$	4,375	$	10,500	$	8,700	$	(1,800)	$	15,000	$	6,300	new addendum - estimated hrs	
68	Property Insurance	$	6,720	$	6,720	$	7,600	$	880	$	6,427	$	(1,173)	actual	
69	General Liability Insurance	$	3,000	$	3,000	$	3,850	$	850	$	3,850	$	-	actual	
70	Flood Insurance	$	2,175	$	2,175	$	2,015	$	(160)	$	2,175	$	160		
71	Street Light Deposit Bond	$	-	$	-	$	650	$	650	$	650	$	-		
72	Entry & Walls Maintenance	$	1,450	$	3,480	$	5,000	$	1,520	$	5,000	$	-		
73	Landscape Maintenance	$	83,248	$ 199,795	$ 166,000	$	(33,795)	$	166,000	$	-		
74	Irrigation Maintenance & Repair	$	9,083	$	21,799	$	20,000	$	(1,799)	$	20,000	$	-		
75	Annual Color Rotation	$	-	$	-	$	20,000	$	20,000	$	20,000	$	-		

Proposed Budget	
Meadow Pointe III Community Development District	
General Fund	
Fiscal Year 2018/2019	

Chart of Accounts Classification	Actual YTD through 02/28/18	Projected Annual Totals 2017/2018	Annual Budget for 2017/2018	Projected Budget variance for 2017/2018	
Budget for 2018/2019	Budget Increase (Decrease) vs 2017/2018	
Comments	
76	Landscape Replacement Plants, Shrubs, Trees	$	13,412	$	32,189	$	40,000	$	7,811	$	40,000	$	-		
77	Landscape - Mulch	$	24,181	$	58,034	$	38,000	$	(20,034)	$	38,000	$	-		
78	Landscape - Fertilizer Applications	$	9,200	$	22,080	$	30,000	$	7,920	$	30,000	$	-		
79	Tree Trimming Services	$	1,325	$	3,180	$	10,800	$	7,620	$	10,800	$	-		
80	Fire Ant Treatment	$	-	$	-	$	10,000	$	10,000	$	10,000	$	-		
81	Landscape - Pest Control	$	2,375	$	5,700	$	5,300	$	(400)	$	5,300	$	-		
82	Well Maintenance	$	-	$	-	$	6,000	$	6,000	$	6,000	$	-		
83	Lift Station Maintenance	$	304	$	730	$	10,000	$	9,270	$	10,000	$	-		
84	Wildlife Management Services	$	2,950	$	7,080	$	-	$	(7,080)	$	6,000	$	6,000	6 months worth @ 1200 ea. Mo.	
85	Miscellaneous Expense	$	-	$	-	$	18,000	$	18,000	$	18,000	$	-		
86	Road & Street Facilities								
87	Gate Maintenance	$	10,848	$	26,035	$	20,000	$	(6,035)	$	20,000	$	-		
88	Gate Phone	$	3,089	$	7,414	$	7,500	$	86	$	7,500	$	-		
89	Sidewalk Repair & Maintenance	$	-	$	-	$	10,000	$	10,000	$	10,000	$	-		
90	Street Sign Repair & Replacement	$	1,040	$	2,496	$	1,000	$	(1,496)	$	1,000	$	-		
91	Roadway Repair & Maintenance	$	-	$	-	$	5,000	$	5,000	$	5,000	$	-		
92	Street Light Decorative Light Maintenance	$	-	$	-	$	2,000	$	2,000	$	2,000	$	-		
93	Parking Lot Repair & Maintenance	$	-	$	-	$	5,000	$	5,000	$	5,000	$	-		
94	Parks & Recreation								
95	Management Contract	$	73,078	$ 175,387	$ 275,765	$ 100,378	$	215,000	$	(60,765)	as per the new addendum	
96	Pool Repairs	$	409	$	982	$	5,000	$	4,018	$	5,000	$	-		
97	Pool/Water Park/Fountain Maintenance	$	5,967	$	14,321	$	5,000	$	(9,321)	$	5,000	$	-		
98	Facilities - Pest Control	$	225	$	540	$	550	$	10	$	550	$	-		
99	Facility A/C & Heating Maintenance & Repair	$	-	$	-	$	10,000	$	10,000	$	10,000	$	-		
100	Playground Equipment and Maintenance	$	-	$	-	$	1,500	$	1,500	$	1,500	$	-		
101	Operating Supplies	$	5,255	$	12,612	$	4,000	$	(8,612)	$	4,000	$	-		
102	Dog Waste Station Supplies	$	793	$	1,903	$	1,500	$	(403)	$	1,900	$	400		
103	Vehicle Maintenance	$	866	$	2,078	$	2,000	$	(78)	$	2,000	$	-		
104	Miscellaneous Expenses	$	2,817	$	6,761	$	5,000	$	(1,761)	$	5,000	$	-		
105	Security System Monitoring & Maintenance	$	834	$	2,002	$	2,000	$	(2)	$	2,000	$	-		
106	Clubhouse Internet, Cable & Phone	$	481	$	1,154	$	3,500	$	2,346	$	3,500	$	-		
107	Athletic/Park Court/Field Repairs	$	190	$	456	$	1,500	$	1,044	$	1,500	$	-		
108	Boardwalk and Bridge Maintenance	$	-	$	-	$	10,000	$	10,000	$	10,000	$	-		
109	Computer Support, Maintenance & Repair	$	1,400	$	3,360	$	1,000	$	(2,360)	$	1,000	$	-		
110	Fitness Equipment Maintenance & Repairs	$	-	$	-	$	2,000	$	2,000	$	2,000	$	-		
111	Special Events								
112	Special Events	$	-	$	-	$	7,500	$	7,500	$	7,500	$	-		
113	Street Tree Removal Program Phase 3								
114	Tree purchase	$	-	$	-	$	98,666	$	98,666	$	100,000	$	1,334	increased based on est price	
115	Street Tree Removal	$	-	$	-	$ 124,375	$ 124,375	$	130,000	$	5,625	based on number of trees	
116	Street Tree Install	$	-	$	-	$ 135,993	$ 135,993	$	140,000	$	4,007	based on number of trees	
117	Contingency								
118	Capital Outlay	$	18,327	$	43,985	$	24,000	$	(19,985)	$	24,000	$	-		
119	Reserve Study	$	-	$	-	$	5,000	$	5,000	$	-	$	(5,000)		
120									
121	Field Operations Subtotal	$ 505,226	$ 1,189,259	$ 1,633,242	$ 443,983	$ 1,652,462	$	14,220		
122									
123	Contingency for County TRIM Notice								
124									
125	TOTAL EXPENDITURES	$ 567,932	$ 1,311,850	$ 1,780,271	$ 468,421	$ 1,804,837	$	19,566		
126									
127	EXCESS OF REVENUES OVER EXPENDITURES	$ 1,196,774	$ 472,338	$	5,000	$ 467,338	$	-	$	-		
128									

Proposed Budget	
Meadow Pointe III Community Development District	
Reserve Fund	
Fiscal Year 2018/2019	

Chart of Accounts Classification	
Actual YTD through 02/28/18	Projected Annual Totals 2017/2018	
Annual Budget for 2017/2018	Projected Budget variance for 2017/2018	
Budget for 2018/2019	Budget Increase (Decrease) vs 2017/2018	

Comments	
1									
2	REVENUES								
3									
4	Special Assessments								
5	Tax Roll*	$	-	$	-	$ 171,158	$ (171,158)	$ 225,158	$	54,000		
6	Other Miscellaneous Revenues								
7									
8	TOTAL REVENUES	$	-	$	-	$ 171,158	$ (171,158)	$ 225,158	$	54,000		
9									
10	Balance Forward from Prior Year	$	-	$	-	$	-	$	-	$	-	$	-		
11									
12	TOTAL REVENUES AND BALANCE FORWARD	$	-	$	-	$ 171,158	$ (171,158)	$ 225,158	$	54,000		
13									
14	*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.		
15									
16	EXPENDITURES								
17									
18	Contingency								
19	Capital Reserves- Road Reserve	$	-	$	-	$ 117,561	$ 117,561	$ 117,561	$	-		
20	Capital Reserves- Asset Replacement	$	-	$	-	$	53,597	$	53,597	$ 107,597	$	54,000		
21									
22	TOTAL EXPENDITURES	$	-	$	-	$ 171,158	$ 171,158	$ 225,158	$	54,000		
23									
24	EXCESS OF REVENUES OVER EXPENDITURES	$	-	$	-	$	-	$	-	$	-	$	-		
25									

Meadow Pointe III Community Development District	
Debt Service	
Fiscal Year 2018/2019	

Chart of Accounts Classification	Series 2013	Series 2015A	Series 2007	Budget for 2018/2019	
					
REVENUES					
Special Assessments					
Net Special Assessments (1)	$	363,934.62	$	223,525.17	$	353,623.04	$	941,082.83	
					
TOTAL REVENUES	$	363,934.62	$	223,525.17	$	353,623.04	$	941,082.83	

EXPENDITURES					
Administrative					
Financial & Administrative					
Bank Fees				0	
Debt Service Obligation	$	363,934.62	$	223,525.17	$	353,623.04	$	941,082.83	
Administrative Subtotal	$	363,934.62	$	223,525.17	$	353,623.04	$	941,082.83	
					
TOTAL EXPENDITURES	$	363,934.62	$	223,525.17	$	353,623.04	$	941,082.83	
					
EXCESS OF REVENUES OVER EXPENDITURES	0	0	0	0	

Pasco County Collection Costs (2%) and Early payment Discounts (4%)	6.0%

Gross assessments	$	1,000,949.74

Notes:	
Tax Roll County Collection Costs and Early Payment Discount is 6% of Tax Roll. Budgeted net tax roll assessment. See Assessment Table.	

(1) Maximum Annual Debt Service less Prepaid Assessments received

MEADOW POINTE III  COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M and DEBT SERVICE ASSESSMENT SCHEDULE
2018/2019 Operations & Maintenance and Road Reserves Budget		$1,991,733.00 Collection Cost and Early Payment Discount @ 6%	 		$127,131.89	 2018/2019 Total:		$2,118,864.89

2017/2018 Operations & Maintenance and Road Reserves Budget	$1,918,167.00
2018/2019 Operations & Maintenance and Road Reserves Budget	$1,991,733.00
Total Difference:	$73,566.00

 	PER UNIT ANNUAL ASSESSMENT	
2017/2018	2018/2019	Proposed Increase / Decrease
Villa (2013) Larkenheath		
	Debt Service Road Reserve
Operations/Maintenance	$267.12
$46.37
$1,071.33	$267.12
$46.37
$1,115.10	$0.00
$0.00
$43.77	0.00%
0.00%
4.09%		
	Total	$1,384.82	$1,428.59	$43.77	3.16%		

SF 50' (2013) Heatherstone	

$533.44
$62.37
$1,071.33	

$533.44
$62.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,667.14	$1,710.91	$43.77	2.63%		

SF 50' (2013) Wrencrest	

$533.44
$63.37
$1,071.33	

$533.44
$63.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,668.14	$1,711.91	$43.77	2.62%		

SF 60' (2013) Wrencrest	

$640.29
$63.37
$1,071.33	

$640.29
$63.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,774.99	$1,818.76	$43.77	2.47%		

SF 65' (2013) Nesslewood	

$693.71
$111.37
$1,071.33	

$693.71
$111.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,876.41	$1,920.18	$43.77	2.33%		

SF 65' (2013) Broughton	

$693.71
$81.37
$1,071.33	

$693.71
$81.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,846.41	$1,890.18	$43.77	2.37%		

SF 80' (2013) Beaconsfield	

$853.99
$76.37
$1,071.33	

$853.99
$76.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$2,001.69	$2,045.46	$43.77	2.19%		

Villa (2015A) Whitlock	

$515.83
$52.37
$1,071.33	

$515.83
$52.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,639.53	$1,683.30	$43.77	2.67%		

Villa (2015A) Larkenheath		
Debt Service Road Reserve
Operations/Maintenance Total	$515.83
$46.37
$1,071.33
$1,633.53	$515.83
$46.37
$1,115.10
$1,677.30	$0.00
$0.00
$43.77
$43.77	0.00%
0.00%
4.09%
2.68%		

	

	

	

	

	

MEADOW POINTE III  COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M and DEBT SERVICE ASSESSMENT SCHEDULE
2018/2019 Operations & Maintenance and Road Reserves Budget		$1,991,733.00 Collection Cost and Early Payment Discount @ 6%	 		$127,131.89	 2018/2019 Total:		$2,118,864.89

2017/2018 Operations & Maintenance and Road Reserves Budget	$1,918,167.00
2018/2019 Operations & Maintenance and Road Reserves Budget	$1,991,733.00
Total Difference:	$73,566.00

 	PER UNIT ANNUAL ASSESSMENT	
2017/2018	2018/2019	Proposed Increase / Decrease
TH (2015A) Claridge Place		
	Debt Service Road Reserve
Operations/Maintenance	$515.83
$84.37
$1,071.33	$515.83
$84.37
$1,115.10	$0.00
$0.00
$43.77	0.00%
0.00%
4.09%		
	Total	$1,671.53	$1,715.30	$43.77	2.62%		

SF 50' (2015A) Wrencrest	

$687.77
$63.37
$1,071.33	

$687.77
$63.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,822.47	$1,866.24	$43.77	2.40%		

SF 60' (2015A) Wrencrest	

$825.32
$63.37
$1,071.33	

$825.32
$63.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,960.02	$2,003.79	$43.77	2.23%		

SF 60' (2015A) Nesslewood	

$825.32
$111.37
$1,071.33	

$825.32
$111.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$2,008.02	$2,051.79	$43.77	2.18%		

Villa (2007) Whitlock	

$280.60
$52.37
$1,071.33	

$280.60
$52.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,404.30	$1,448.07	$43.77	3.12%		

TH (2007) Hillhurst Crossing	

$420.89
$102.82
$1,071.33	

$420.89
$102.82
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,595.04	$1,638.81	$43.77	2.74%		

SF 50' (2007) Wrencrest	

$561.19
$63.37
$1,071.33	

$561.19
$63.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,695.89	$1,739.66	$43.77	2.58%		

SF 60' (2007) Alchester	

$673.43
$58.37
$1,071.33	

$673.43
$58.37
$1,115.10	

$0.00
$0.00
$43.77	

0.00%
0.00%
4.09%		
	Debt Service Road Reserve
Operations/Maintenance						
	Total	$1,803.13	$1,846.90	$43.77	2.43%		

SF 60' (2007) Ammanford		
Debt Service Road Reserve
Operations/Maintenance Total	$673.43
$56.37
$1,071.33
$1,801.13	$673.43
$56.37
$1,115.10
$1,844.90	$0.00
$0.00
$43.77
$43.77	0.00%
0.00%
4.09%
2.43%		

	

	

	

	

	

 	PER UNIT ANNUAL ASSESSMENT	
2017/2018	2018/2019	Proposed Increase / Decrease
SF 60' (2007) Wrencrest		
	Debt Service Road Reserve
Operations/Maintenance	$673.43	$673.43	$0.00	0.00%
$63.37	$63.37	$0.00	0.00%
$1,071.33	$1,115.10	$43.77	4.09%		
	Total	$1,808.13	$1,851.90	$43.77	2.42%		

SF 65' (2007) Broughton	

$673.43	$673.43	$0.00	0.00%
$81.37	$81.37	$0.00	0.00%
$1,071.33	$1,115.10	$43.77	4.09%		
	Debt Service Road Reserve
Operations/Maintenance			
	Total	$1,826.13	$1,869.90	$43.77	2.40%		

2018/2019 Operations & Maintenance and Road Reserves Budget	
Collection Cost and Early Payment Discount @ 6%	
2018/2019 Total:	

$1,991,733.00	
 	$127,131.89		
$2,118,864.89	

2017/2018 Operations & Maintenance and Road Reserves Budget	
2018/2019 Operations & Maintenance and Road Reserves Budget	
Total Difference:	

$1,918,167.00	
$1,991,733.00	
$73,566.00	

MEADOW POINTE III COMMUNITY DEVELOPMENT DISTRICT 	
FISCAL YEAR 2018/2019 O&M and DEBT SERVICE ASSESSMENT SCHEDULE	

MEADOW POINTE III

FISCAL YEAR 2018/2019 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

TOTAL O&M BUDGET		$1,874,172.00	
COLLECTION COSTS @	6.0%	$119,628.00	
TOTAL O&M ASSESSMENT		$1,993,800.00	

ANNUAL ROAD RESERVES BUDGET	$117,561.00

	LOT SIZE	

 	
 	UNITS ASSESSED		
DEBT (1) (2)	
O&M	2013	2015A	2007	

 	ALLOCATION OF O&M ASSESSMENT		
EAU	TOTAL	% TOTAL	TOTAL	
FACTOR	EAU's	EAU's	O&M BUDGET	

Villa (2013) Larkenheath	146	145	1.00	146.00	8.17%	$162,804.70
SF 50' (2013) Heatherstone	121	119	1.00	121.00	6.77%	$134,927.18
SF 50' (2013) Wrencrest	146	146	1.00	146.00	8.17%	$162,804.70
SF 60' (2013) Wrencrest	13	13	1.00	13.00	0.73%	$14,496.31
SF 65' (2013) Nesslewood	123	122	1.00	123.00	6.88%	$137,157.38
SF 65' (2013) Broughton	2	2	1.00	2.00	0.11%	$2,230.20
SF 80' (2013) Beaconsfield	133	132	1.00	133.00	7.44%	$148,308.39
Villa (2015A) Whitlock	92	92	1.00	92.00	5.15%	$102,589.26
Villa (2015A) Larkenheath	63	63	1.00	63.00	3.52%	$70,251.34
TH (2015A) Claridge Place	136	136	1.00	136.00	7.61%	$151,653.69
SF 50' (2015A) Wrencrest	24	24	1.00	24.00	1.34%	$26,762.42
SF 60' (2015A) Wrencrest	16	16	1.00	16.00	0.89%	$17,841.61
SF 60' (2015A) Nesslewood	70	70	1.00	70.00	3.91%	$78,057.05
Villa (2007) Whitlock	130	128	1.00	130.00	7.27%	$144,963.09
TH (2007) Hillhurst Crossing	105	105	1.00	105.00	5.87%	$117,085.57
SF 50' (2007) Wrencrest	152	152	1.00	152.00	8.50%	$169,495.30
SF 60' (2007) Alchester	82	81	1.00	82.00	4.59%	$91,438.26
SF 60' (2007) Ammanford	69	68	1.00	69.00	3.86%	$76,941.95
SF 60' (2007) Wrencrest	124	123	1.00	124.00	6.94%	$138,272.48
SF 65' (2007) Broughton	41	41	1.00	41.00	2.29%	$45,719.13

 	679		401		698		

     1788.00		100.00% 	$1,993,800.00 	

      1788 

TOTAL	
ROAD	
RESERVES	

     $125,064.57 

PER LOT ANNUAL ASSESSMENT
ROAD	2013 DEBT 2015A DEBT 2007 DEBT
O&M (5)	RESERVES   SERVICE (3)   SERVICE (3) SERVICE (3)	TOTAL (4)

$6,770.22	
$7,546.94	
$9,252.22	
$823.83	
$13,698.68	
$162.74	
$10,157.39	
$4,818.17	
$2,921.40	
$11,474.51	
$1,520.91	
$1,013.94	
$7,796.00	
$6,808.28	
$10,796.57	
$9,632.45	
$4,786.45	
$3,889.62	
$7,858.05	
$3,336.23	

$1,115.10	$46.37	$267.12	
$1,115.10	$62.37	$533.44	
$1,115.10	$63.37	$533.44	
$1,115.10	$63.37	$640.29	
$1,115.10	$111.37	$693.71	
$1,115.10	$81.37	$693.71	
$1,115.10	$76.37	$853.99	
$1,115.10	$52.37	$515.83	
$1,115.10	$46.37	$515.83	
$1,115.10	$84.37	$515.83	
$1,115.10	$63.37	$687.77	
$1,115.10	$63.37	$825.32	
$1,115.10	$111.37	$825.32	
$1,115.10	$52.37	$280.60	
$1,115.10	$102.82	$420.89	
$1,115.10	$63.37	$561.19	
$1,115.10	$58.37	$673.43	
$1,115.10	$56.37	$673.43	
$1,115.10	$63.37	$673.43	
$1,115.10	$81.37	$673.43	

 	
$1,428.59	
$1,710.91	
$1,711.91	
$1,818.76	
$1,920.18	
$1,890.18	
$2,045.46	
$1,683.30	
$1,677.30	
$1,715.30	
$1,866.24	
$2,003.79	
$2,051.79	
$1,448.07	
$1,638.81	
$1,739.66	
$1,846.90	
$1,844.90	
$1,851.90	
$1,869.90	

LESS: Pasco County Collection Costs (2%) and Early Payment Discount (4%):	($119,628.00)	($7,503.87)

Net Revenue to be Collected	    $1,874,172.00 	

     $117,560.70 

(1)	Reflects 5 (five) prepayments for the Series 2013 bond and 5 (five) prepayments on the Series 2007 bond.	

(2)	Reflects the number of total lots with Series 2013, Series 2015A and Series 2007 debt outstanding.	

(3)	Annual debt service assessment per lot adopted in connection with the Series 2013, Series 2015A and Series 2007 bond issues. Annual assessment includes principal, interest, Pasco County collection costs and early payment discount costs.	

(4)	Annual assessment (in addition to the Road Reserve) will appear on November 2018 Pasco County property tax bill. Amount shown includes all applicable collection costs and early payment discounts (up to 4% if paid early)	

(5)	Reflects an equal per unit O&M assessment approved by the Board of Supervisors	

Meadow Pointe III CDD Internal Road Reserves

	ROUNDED	
Number of	Estimated

Total Costs	Per Lot

Yearly Costs	Per Lot

Yearly Costs	Annual Asst.
Per   Neighborhood (at the same level as 2011)	Per Lot

Yearly Costs (at the same level as 2011)	

Parcel ID/Name	

Lots						
50' & 60'
1A,2A,1B,2B,1D,1E
Wrencrest/Rensselaer	

475	

$281,672	

$40	

$41	

$30,101	

$63	

1C1, 1C2 - Villa Whitlock	

222	

$90,142	

$27	

$30	

$11,626	

$52	

TT - 50'
Ammanford	

69	

$31,954	

$31	

$34	

$3,890	

$56	

VV - 65'
Broughton	

43	

$35,466	

$55	

$59	

$3,499	

$81	

SS - 60'
Alchester	

82	

$40,986	

$33	

$36	

$4,786	

$58	

PP/QQ - Villa Larkenheath	

209	

$73,092	

$23	

$24	

$9,692	

$46	

EE - 50'
Heatherstone	

121	

$68,848	

$38	

$40	

$7,547	

$62	

FF/OO - 80'
Beaconsfield	

133	

$100,050	

$50	

$54	

$10,157	

$76	

UU - Townhomes Hillhurst Crossing	

105	

$119,111	

$76	

$80	

$10,797	

$103	

CC - Townhomes Claridge Place	

136	

$120,024	

$59	

$62	

$11,475	

$84	

DD - 60' / Y - 65'
Sheringham/Nesslewoo	

193	

$238,742	

$82	

$89	

$21,495	

$111	

6%
Net	Gross	Gross

Total	1788				$125,065	
	net	$117,561	
	variance		
Costs based on 3% inflation and compounded for 15 years. Based on 1" overlay with no curb or base repair.
Total price is prorated over a 15 year period.