Meadow Pointe III Community Development District

Financial Statements (Unaudited)

August 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 8/31/2018
(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	176,866		0		0		176,866		0		0	
Investments	1,139,149		0		628,174		1,767,322		0		0	
Investments - Reserves	0		376,454		0		376,454		0		0	
Accounts Receivable	0		0		0		0		0		0	
Prepaid Expenses	6,958		0		0		6,958		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		628,174	
Amount To be Provided Debt Service	0		0		0		0		0		9,816,826	
Fixed Assets	0		0		0		0		10,453,382		0	
Total Assets	 	1,376,138		 	376,454		 	628,174		 	2,380,765		 	10,453,382		 	10,445,000	

Liabilities												
Accounts Payable	12,538		0		0		12,538		0		0	
Sales Tax Payable	218		0		0		218		0		0	
Accrued Expenses Payable	26,466		0		0		26,466		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	39,222		34,023		0		73,244		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	572,142		(498,151)		8,853		82,844		0		0	
Total Fund Equity & Other Credits	1,336,916		342,431		628,174		2,307,520		10,453,382		0	

Total Liabities & Fund Equity	 	1,376,138	 	376,454	 	628,174	 	2,380,765	 	10,453,382	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	8,428	8,428	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		9,167		5,071		(4,095)		49.28%	
Non-Resident Annual Fees	0		0		1,122		1,122		0.00%	
Key Fobs	0		0		467		467		0.00%	
Remotes	0		0		5,449		5,449		0.00%	
Cell Tower Lease	28,262		25,907		25,907		(0)		8.33%	
Total Revenues	1,785,271		1,782,083		1,803,310		21,227		(1.01)%	

Expenditures
Legislative
Supervisor Fees	16,000	14,667	11,400	3,267	28.75%	
Financial & Administrative						
Administrative Services	5,800	5,317	5,317	0	8.33%	
District Management	32,500	29,792	29,792	0	8.33%	
District Engineer	20,000	18,333	10,063	8,271	49.68%	
Disclosure Report	3,100	3,100	3,100	0	0.00%	
Trustees Fees	9,000	9,000	10,775	(1,775)	(19.72)%	
Tax Collector /Property Appraiser Fees	150	150	150	0	0.00%	
Financial & Revenue Collections	5,000	4,583	4,583	0	8.33%	
Accounting Services	21,000	19,250	19,250	0	8.33%	
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	917	1,481	(565)	(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	2,200	2,359	(159)	1.70%	
Legal Counsel						
District Counsel	18,000	16,500	16,563	(63)	7.98%	
Law Enforcement						
Contracted Deputy Services	94,000	86,167	93,228	(7,061)	0.82%	
Electric Utility Services						
Utility Services	31,000	28,417	26,784	1,633	13.60%	
Street Lighting	85,000	77,917	90,198	(12,281)	(6.11)%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	158,462	155,375	3,087	10.11%	

Garbage - Recreation Facility	800	733	726	7	9.25%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	

Utility - Recreation Facilities	3,000	2,750	4,044	(1,294)	(34.81)%	
Mitigation Area Monitoring & Maintenance	4,810	4,409	2,050	2,359	57.38%	
Aquatic Plant Replacement	7,500	6,875	2,600	4,275	65.33%	
Aquatic Contract	52,000	47,667	61,228	(13,561)	(17.74)%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	4,583	0	4,583	100.00%	
Other Physical Environment						
Field Operations	8,700	7,975	10,000	(2,025)	(14.94)%	
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	596	0	596	100.00%	
Entry & Walls Maintenance	5,000	4,583	1,450	3,133	71.00%	
Landscape Maintenance	166,000	152,167	180,432	(28,265)	(8.69)%	
Irrigation Repairs & Maintenance	20,000	18,333	17,162	1,172	14.19%	
Annual Color Rotation	20,000	18,333	686	17,648	96.57%	
Landscape Replacement Plants, Shrubs, Trees	40,000	36,667	23,857	12,809	40.35%	
Mulch Installation	38,000	34,833	47,817	(12,983)	(25.83)%	
Landscape - Fertilizer Applications	30,000	27,500	29,600	(2,100)	1.33%	
Tree Trimming/Removal Services	10,800	9,900	3,313	6,588	69.32%	
Fire Ant Treatment	10,000	9,167	0	9,167	100.00%	
Landscape- Pest Control	5,300	4,858	5,030	(172)	5.09%	
Well Maintenance	6,000	5,500	1,082	4,418	81.96%	
Lift Station Maintenance	10,000	9,167	760	8,407	92.40%	
Wildlife Management Services	0	0	10,150	(10,150)	0.00%	
Miscellaneous Expenses	18,000	16,500	210	16,290	98.83%	
Road & Street Facilities						
Gate Maintenance	20,000	18,333	31,022	(12,688)	(55.10)%	
Gate Phone	7,500	6,875	6,798	77	9.36%	
Sidewalk Repair & Maintenance	10,000	9,167	7,844	1,323	21.56%	
Street Sign Repairs & Replacement	1,000	917	1,040	(123)	(4.00)%	
Roadway Repair & Maintenance	5,000	4,583	15,741	(11,158)	(214.82)%	

Water-Sewer Combination Services Stormwater Control

Street Light/Decorative Light Maintenance	2,000	1,833	0	1,833	100.00%	
Parking Lot Repair & Maintenance	5,000	4,583	0	4,583	100.00%	
Parks & Recreation
Management Contract	275,765	252,785	169,714	83,071	38.45%	
Pool Repairs	5,000	4,583	2,725	1,858	45.49%	
Pool/Water Park/Fountain Maintenance	5,000	4,583	12,837	(8,253)	(156.73)%	
Facilities - Pest Control	550	504	495	9	10.00%	
Facility A/C & Heating Maintenance & Repair	10,000	9,167	564	8,603	94.36%	
Playground Equipment/Maintenance	1,500	1,375	88	1,287	94.13%	
Operating Supplies	4,000	3,667	10,890	(7,223)	(172.23)%	
Dog Waste Station Supplies	1,500	1,375	1,189	186	20.73%	
Vehicle Maintenance	2,000	1,833	1,937	(104)	3.13%	
Miscellaneous Expenses	5,000	4,583	8,304	(3,720)	(66.07)%	
Security System Monitoring & Maintenance	2,000	1,833	3,446	(1,613)	(72.29)%	
Clubhouse Internet, Cable, Phone	3,500	0	1,161	(1,161)	66.82%	
Athletic/Park Court/Field Repairs	1,500	1,375	380	995	74.66%	
Boardwalk & Bridge Maintenance	10,000	9,167	161	9,006	98.39%	
Computer Support/Maintenance/Repairs	1,000	917	1,640	(723)	(63.95)%	
Fitness Equipment Maintenance/Repairs	2,000	1,833	206	1,627	89.70%	
Special Events						
Special Events	7,500	6,875	1,939	4,936	74.14%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	90,444	0	90,444	100.00%	
Street Tree Removal	124,375	114,010	1,820	112,190	98.53%	
Street Tree Install	135,993	124,660	16,840	107,821	87.61%	
Contingency						
Capital Outlay	24,000		22,000		22,116		(116)		7.85%	
Reserve Study	5,000		4,583		0		4,583		100.00%	
Total Expenditures	1,785,271		1,636,856		1,231,168		405,688		31.04%	

Excess of Revenues Over (Under) Expenditures

0	145,226	572,142	426,916	0.00%

 	 	 	 	

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
145,226		
572,142		
426,916		
0.00%	

Fund Balance, Beginning of Period										
	0		0		764,774		764,774		0.00%	
Fund Balance, End of Period	 	0		 	145,226		 	1,336,916		 	1,191,690		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		177,096		5,938		3.47%	

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		
(498,151)		
(498,151)		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
(498,151)		
(498,151)		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0		 	342,431		 	342,431		 	0.00%	

Tax Roll	587,460		590,835		3,375		0.57%	
Total Revenues	587,460		595,696		8,236		1.40%	

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		
3,878		
3,878		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
3,878		
3,878		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0		 	465,366		 	465,366		 	0.00%	

Tax Roll	353,623		355,654		2,031		0.57%	
Total Revenues	353,623		358,525		4,902		1.39%	

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		
4,975		
4,975		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
4,975		
4,975		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0		 	162,807		 	162,807		 	0.00%	

Meadow Pointe III CDD Investment Summary August 31, 2018

Balance as of
Account	Investment	August 31, 2018

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

$	3,425

EagleBank	Money Market Account	245,218
Five Star Bank	Money Market Account	40,952
Independent Bank	Money Market Account	245,219
Pinnacle Bank	Money Market Account	245,159
The Huntington National Bank	Money Market Account	113,957
The Park National Bank	Money Market Account	245,219

Total General Fund Investments    $	1,139,149 

The Bank of Tampa ICS Program:
Road Reserve
United Bank	Money Market Account

$	28,769

Subtotal	28,769

Asset Replacement
Five Star Bank	Money Market Account	3
Pinnacle Bank	Money Market Account	48
The Huntington National Bank	Money Market Account	131,214
United Bank	Money Market Account			216,420 Subtotal	347,685
Total Reserve Fund Investments    $	376,454 
US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	162,807
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z		99,931 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			3,914
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180
US Bank Series 2015A Revenue	US Bank Money Market 5	69,923
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591

Total Debt Service Fund Investments    $	628,174 

Meadow Pointe III Community Development District
Aged Payables by Invoice Date Aging Date - 6/1/2018
001 - General Fund
From 8/1/2018 Through 8/31/2018

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

EmbroidMe of New Tampa		
6/28/2018		
E8908		
BYO Polo's 06/18		
56.96	
Rizzetta Amenity Services, Inc.		7/27/2018		INV00000000005215		Amenity Management Services 07/18		27.33	
Netix Solutions, LLC		8/1/2018		180219		Community Website 08/18		200.00	
Landscape Maintenance Professionals, Inc.		8/18/2018		136022		Irrigation Repairs 08/18		262.56	
Ecological Consultants, Inc.		8/20/2018		11366		SemiAnnual
Monitoring SWFWMD 44021274.017/430212...		345.00	
						08/18			
Home Depot Credit		8/21/2018		6035 3225 3190 3767		Supplies 08/18		125.35	
Services				08/18					
Pasco County Utilities		8/22/2018		10856621		1500 Meadow Pointe Blvd 08/18		718.61	
Withlacoochee River Electric Cooperative, Inc.		8/23/2018		1353910 08/18		Street Lights 08/18		1,339.79	
Landscape Maintenance Professionals, Inc.		8/23/2018		136105		Irrigation Repairs 08/18		254.80	
Commercial Controls, Inc.		8/24/2018		4307		Repair Wire Broke on Column 08/18		730.00	
Southern Automated Access Services LLC		8/24/2018		5186		Repaired Memory Capacity 08/24		643.00	
EmbroidMe of New Tampa		8/29/2018		E9023		BYO Polo's 08/18		35.00	
CINTAS Corporation #074		8/31/2018		07415254		Supplies 08/18		40.97	
Pasco County Sheriff's Office		9/1/2018		090118		Law Enforcement Services Installment #12 - 09/18		7,759.00	
						
Total 001 - General Fund		
12,538.37	

Report Total								
12,538.37	

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

Balance Sheet

Trust statement activity has been recorded through 08/31/18.
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.