Meadow Pointe III Community Development District

Financial Statements (Unaudited)

July 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 7/31/2018
(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	50,631		0		0		50,631		0		0	
Investments	1,378,123		0		627,466		2,005,588		0		0	
Investments - Reserves	0		376,118		0		376,118		0		0	
Accounts Receivable	0		0		0		0		0		0	
Prepaid Expenses	2,074		0		0		2,074		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	34,023		0		0		34,023		0		0	
Amount Available in Debt Service	0		0		0		0		0		627,466	
Amount To be Provided Debt Service	0		0		0		0		0		9,817,534	
Fixed Assets	0		0		0		0		10,453,382		0	
Total Assets	 	1,483,993		 	376,118		 	627,466		 	2,487,577		 	10,453,382		 	10,445,000	

Liabilities												
Accounts Payable	29,357		0		0		29,357		0		0	
Sales Tax Payable	348		0		0		348		0		0	
Accrued Expenses Payable	28,824		0		0		28,824		0		0	
Due to Other Funds	0		34,023		0		34,023		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,445,000	
Total Liabilities	58,528		34,023		0		92,551		0		10,445,000	

Fund Equity & Other Credits												
Beginning Fund Balance	764,774		840,582		619,320		2,224,676		10,453,382		0	
Net Change in Fund Balance	660,691		(498,486)		8,145		170,350		0		0	
Total Fund Equity & Other Credits	1,425,465		342,095		627,466		2,395,026		10,453,382		0	

Total Liabities & Fund Equity	 	1,483,993	 	376,118	 	627,466	 	2,487,577	 	10,453,382	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	7,402	7,402	0.00%	
Special Assessments						
Tax Roll	1,747,009	1,747,009	1,756,867	9,858	(0.56)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		8,333		4,707		(3,626)		52.93%	
Non-Resident Annual Fees	0		0		1,051		1,051		0.00%	
Key Fobs	0		0		458		458		0.00%	
Remotes	0		0		5,140		5,140		0.00%	
Cell Tower Lease	28,262		23,552		23,551		(0)		16.66%	
Total Revenues	1,785,271		1,778,894		1,799,177		20,283		(0.78)%	

Expenditures
Legislative
Supervisor Fees	16,000	13,333	10,600	2,733	33.75%	
Financial & Administrative						
Administrative Services	5,800	4,833	4,833	0	16.66%	
District Management	32,500	27,083	27,083	0	16.66%	
District Engineer	20,000	16,667	9,383	7,284	53.08%	
Disclosure Report	3,100	3,100	3,100	0	0.00%	
Trustees Fees	9,000	9,000	9,967	(967)	(10.74)%	
Tax Collector /Property Appraiser Fees	150	150	150	0	0.00%	
Financial & Revenue Collections	5,000	4,167	4,167	0	16.66%	
Accounting Services	21,000	17,500	17,500	0	16.66%	
Auditing Services	3,550	3,550	0	3,550	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	833	1,481	(648)	(48.12)%	
Miscellaneous Mailings	0	0	2,051	(2,051)	0.00%	
Dues, Licenses & Fees	450	450	728	(278)	(61.74)%	
Website Maintenance	2,400	2,000	2,159	(159)	10.04%	
Legal Counsel						
District Counsel	18,000	15,000	16,563	(1,563)	7.98%	
Law Enforcement						
Contracted Deputy Services	94,000	78,333	85,469	(7,136)	9.07%	
Electric Utility Services						
Utility Services	31,000	25,833	23,656	2,177	23.69%	
Street Lighting	85,000	70,833	82,432	(11,599)	3.02%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	144,057	141,250	2,806	18.29%	

Garbage - Recreation Facility	800	667	660	7	17.50%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	

Utility - Recreation Facilities	3,000	2,500	3,626	(1,126)	(20.86)%	
Mitigation Area Monitoring & Maintenance	4,810	4,008	1,705	2,303	64.55%	
Aquatic Plant Replacement	7,500	6,250	2,600	3,650	65.33%	
Aquatic Contract	52,000	43,333	55,845	(12,512)	(7.39)%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	4,167	0	4,167	100.00%	
Other Physical Environment						
Field Operations	8,700	7,250	9,275	(2,025)	(6.60)%	
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	542	0	542	100.00%	
Entry & Walls Maintenance	5,000	4,167	1,450	2,717	71.00%	
Landscape Maintenance	166,000	138,333	164,318	(25,985)	1.01%	
Irrigation Repairs & Maintenance	20,000	16,667	15,225	1,441	23.87%	
Annual Color Rotation	20,000	16,667	686	15,981	96.57%	
Landscape Replacement Plants, Shrubs, Trees	40,000	33,333	23,857	9,476	40.35%	
Mulch Installation	38,000	31,667	47,817	(16,150)	(25.83)%	
Landscape - Fertilizer Applications	30,000	25,000	28,350	(3,350)	5.50%	
Tree Trimming/Removal Services	10,800	9,000	3,313	5,688	69.32%	
Fire Ant Treatment	10,000	8,333	0	8,333	100.00%	
Landscape- Pest Control	5,300	4,417	4,605	(188)	13.11%	
Well Maintenance	6,000	5,000	1,082	3,918	81.96%	
Lift Station Maintenance	10,000	8,333	684	7,649	93.16%	
Wildlife Management Services	0	0	8,950	(8,950)	0.00%	
Miscellaneous Expenses	18,000	15,000	210	14,790	98.83%	
Road & Street Facilities						
Gate Maintenance	20,000	16,667	28,833	(12,166)	(44.16)%	
Gate Phone	7,500	6,250	6,178	72	17.62%	
Sidewalk Repair & Maintenance	10,000	8,333	7,800	533	22.00%	
Street Sign Repairs & Replacement	1,000	833	1,040	(207)	(4.00)%	
Roadway Repair & Maintenance	5,000	4,167	15,741	(11,574)	(214.82)%	

Water-Sewer Combination Services Stormwater Control

Street Light/Decorative Light Maintenance	2,000	1,667	0	1,667	100.00%	
Parking Lot Repair & Maintenance	5,000	4,167	0	4,167	100.00%	
Parks & Recreation
Management Contract	275,765	229,804	152,057	77,747	44.85%	
Pool Repairs	5,000	4,167	2,725	1,441	45.49%	
Pool/Water Park/Fountain Maintenance	5,000	4,167	11,692	(7,525)	(133.83)%	
Facilities - Pest Control	550	458	450	8	18.18%	
Facility A/C & Heating Maintenance & Repair	10,000	8,333	282	8,051	97.18%	
Playground Equipment/Maintenance	1,500	1,250	88	1,162	94.13%	
Operating Supplies	4,000	3,333	10,414	(7,081)	(160.35)%	
Dog Waste Station Supplies	1,500	1,250	1,189	61	20.73%	
Vehicle Maintenance	2,000	1,667	1,734	(67)	13.29%	
Miscellaneous Expenses	5,000	4,167	7,462	(3,295)	(49.23)%	
Security System Monitoring & Maintenance	2,000	1,667	2,961	(1,294)	(48.05)%	
Clubhouse Internet, Cable, Phone	3,500	0	1,057	(1,057)	69.79%	
Athletic/Park Court/Field Repairs	1,500	1,250	380	870	74.66%	
Boardwalk & Bridge Maintenance	10,000	8,333	161	8,173	98.39%	
Computer Support/Maintenance/Repairs	1,000	833	1,640	(806)	(63.95)%	
Fitness Equipment Maintenance/Repairs	2,000	1,667	176	1,491	91.20%	
Special Events						
Special Events	7,500	6,250	1,939	4,311	74.14%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	82,222	0	82,222	100.00%	
Street Tree Removal	124,375	103,646	1,820	101,826	98.53%	
Street Tree Install	135,993	113,328	16,840	96,488	87.61%	
Contingency						
Capital Outlay	24,000		20,000		22,116		(2,116)		7.85%	
Reserve Study	5,000		4,167		0		4,167		100.00%	
Total Expenditures	1,785,271		1,491,942		1,138,486		353,456		36.23%	

Excess of Revenues Over (Under) Expenditures

0	286,952	660,691	373,739	0.00%

 	 	 	 	

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
286,952		
660,691		
373,739		
0.00%	

Fund Balance, Beginning of Period										
	0		0		764,774		764,774		0.00%	
Fund Balance, End of Period	 	0		 	286,952		 	1,425,465		 	1,138,513		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		176,760		5,602		3.27%	

Expenditures
Contingency
Asset Replacement Reserve	53,597		21,615		31,982		59.67%	
Road Reserves	117,561		653,632		(536,071)		(455.99)%	
Total Expenditures	171,158		675,247		(504,089)		(294.52)%	

Excess of Revenues Over (Under) Expenditures	
0		
(498,486)		
(498,486)		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
(498,486)		
(498,486)		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0		 	342,095		 	342,095		 	0.00%	

Tax Roll	587,460		590,835		3,375		0.57%	
Total Revenues	587,460		595,230		7,770		1.32%	

Expenditures								
Debt Service								
Interest	292,460		281,818		10,642		3.63%	
Principal	295,000		310,000		(15,000)		(5.08)%	
Total Expenditures	587,460		591,818		(4,358)		(0.74)%	

Excess of Revenues Over (Under) Expenditures	
0		
3,412		
3,412		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
3,412		
3,412		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0		 	464,900		 	464,900		 	0.00%	

Tax Roll	353,623		355,654		2,031		0.57%	
Total Revenues	353,623		358,283		4,660		1.32%	

Expenditures								
Debt Service								
Interest	188,623		188,550		73		0.03%	
Principal	165,000		165,000		0		0.00%	
Total Expenditures	353,623		353,550		73		0.02%	

Excess of Revenues Over (Under) Expenditures	
0		
4,733		
4,733		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
4,733		
4,733		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0		 	162,565		 	162,565		 	0.00%	

Meadow Pointe III CDD
Investment Summary July 31, 2018

Balance as of
Account	Investment	July 31, 2018

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

$	243,411

Boston Private Bank & Trust Company   Money Market Account	7
EagleBank	Money Market Account	245,178
First Tennessee Bank Natl Assn	Money Market Account	39,497
Flushing Bank	Money Market Account	245,162
Fulton Bank, N.A.	Money Market Account	245,051
Morton Community Bank	Money Market Account	173
Oritani Bank	Money Market Account	33
Pinnacle Bank	Money Market Account	57
The Huntington National Bank	Money Market Account	114,237
The Park National Bank	Money Market Account	245,219
Western Alliance Bank	Money Market Account	98
Total General Fund Investments    $	1,378,123

The Bank of Tampa ICS Program:
Road Reserve
The Huntington National Bank	Money Market Account		$	35	
United Bank	Money Market Account		28,708	
		Subtotal	28,743	

Asset Replacement
Boston Private Bank & Trust Company   Money Market Account	15
Morton Community Bank	Money Market Account	3
Oritani Bank	Money Market Account	44
The Huntington National Bank	Money Market Account	130,771
United Bank	Money Market Account	216,510
Western Alliance Bank	Money Market Account	32

Subtotal	347,375

Total Reserve Fund Investments    $	376,118

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	162,565	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	99,517	
US Bank Series 2013 Reserve	First American Treasury Obligation Fund Class Z	178,828	
US Bank Series 2013 Prepayment	First American Treasury Obligation Fund Class Z	3,908	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	69,877	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	627,466

Vendor Name		Date		Invoice/Credit Number		Description		Current		

LLS Tax Solutions Inc.		
4/5/2018		
001423		
Rebate Arbitrage Series 2013 PE 03/27/18			
500.00	
Clean Sweep Supply Co., Inc.		6/26/2018		00200709		Gymwipes Refills 06/18			155.74	
U.S. Water Services Corporation		7/3/2018		872725		Monthly Lift Station Inspection 06/18			76.00	
Landscape Maintenance Professionals, Inc.		7/11/2018		135127		Irrigation Repairs 07/18			693.00	
Landscape Maintenance Professionals, Inc.		7/12/2018		135138		Irrigation Repairs 07/18			45.00	
QFC Supply Company		7/12/2018		15-8612		Supplies - Single Pull Bags 07/18			238.00	
Times Publishing Company		7/13/2018		658837 07/13/18		Account #119369 Legal Advertising 07/18			650.00	
DCSI Inc.		7/13/2018		24114		Clubhouse Camera Warranty 07/18			88.89	
DCSI Inc.		7/13/2018		24119		Access Cards/ 100 Bit Key Fobs 07/18			525.00	
Fitness Logic		7/13/2018		82949		Quarterly General Maintenance 07/18			95.00	
Jerry Richardson		7/16/2018		1132		Monthly Hog Removal Service 07/18			1,200.00	
Suncoast Pool Service		7/16/2018		4653		Replace 3 HP Motor 07/18			610.00	
Suncoast Pool Service		7/16/2018		4654		Replace Splash park pool filter elements 07/18			622.00	
MidState Striping Services, LLC		7/17/2018		0202B		MP III Striping/RPMs 07/18			11,071.00	
Southern Automated Access Services LLC		7/17/2018		4982		Replace Tele Entry Circuit Board 07/18			2,205.00	
Southern Automated Access Services LLC		7/17/2018		4983		Replaced master/slave circuit boards 07/18			970.00	
Landscape Maintenance Professionals, Inc.		7/17/2018		135197		Irrigation Repairs 07/18			346.00	
Landscape Maintenance Professionals, Inc.		7/17/2018		135206		Irrigation Repairs 07/18			66.00	
John A. Johnson		7/18/2018		JJ 071818		Board of Supervisors Meeting 07/18/18			200.00	
Michael J Hall		7/18/2018		MH 071818		Board of Supervisors Meeting 07/18/18			200.00	
Arthur R Daddio		7/18/2018		RD 071818		Board of Supervisors Meeting 07/18/18			200.00	

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Paul Carlucci		
7/18/2018		
PC 071818		
Board of Supervisors Meeting 07/18/18			
200.00	
Straley Robin Vericker		7/18/2018		15919		General Legal Services 06/18			2,215.00	
Times Publishing Company		7/20/2018		658805 07/20/18		Account #119369 Legal Advertising 07/18			121.60	
CINTAS Corporation #074		7/20/2018		074129591		Supplies 07/18			109.77	
Home Depot Credit		7/20/2018		6035 3225 3190 3767		Supplies 07/18			91.36	
Services				07/18						
DCSI Inc.		7/20/2018		24128		Gate CCTV Warranty 07/18			395.88	
Pasco County Utilities		7/23/2018		10739912		1500 Meadow Pointe Blvd 06/18			718.61	
Southern Automated Access Services LLC		7/23/2018		5044		Gate Repair - Whitlock 07/18			95.00	
Southern Automated Access Services LLC		7/24/2018		5046		Gate Repair, Claridge PL 07/18			95.00	
Withlacoochee River Electric Cooperative, Inc.		7/24/2018		1353910 07/18		Street Lights 07/18			1,339.79	
Southern Automated Access Services LLC		7/26/2018		5057		Replaced Tele entry @ Claridge Palce 07/25/18			2,753.00	
Southern Automated Access Services LLC		7/30/2018		5071		Replaced Detector 07/27/18			275.00	
Southern Automated Access Services LLC		7/30/2018		5072		Gate Repair - Whitlock 07/18			95.00	
Southern Automated Access Services LLC		8/2/2018		5085		Gate Repair 07/18			95.00	
						
Total 001 - General Fund			
29,356.64	

Report Total									
29,356.64	

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

Balance Sheet

Trust statement activity has been recorded through 7/31/18.
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.