Meadow Pointe III Community Development District

Financial Statements (Unaudited)

September 30, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 9/30/2018
(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	178,250		0		0		178,250		0		0	
Investments	954,099		0		628,897		1,582,996		0		0	
Investments - Reserves	0		342,745		0		342,745		0		0	
Accounts Receivable	0		0		0		0		0		0	
Prepaid Expenses	19,051		0		0		19,051		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	0		0		0		0		0		0	
Amount Available in Debt Service	0		0		0		0		0		628,897	
Amount To be Provided Debt Service	0		0		0		0		0		9,816,103	
Fixed Assets	0		0		0		0		10,453,382		0	
Total Assets	 	1,170,542		 	342,745		 	628,897		 	2,142,184		 	10,453,382		 	10,445,000	

Liabilities												
Accounts Payable	31,284		0		0		31,284		0		0	
Sales Tax Payable	294		0		0		294		0		0	
Accrued Expenses Payable	4,764		0		0		4,764		0		0	
Due to Other Funds	0		0		0		0		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,445,000	
Total Liabilities	36,342		0		0		36,342		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	369,425		(497,837)		9,577		(118,834)		0		0	
Total Fund Equity & Other Credits	1,134,199		342,745		628,897		2,105,842		10,453,382		0	

Total Liabities & Fund Equity	 	1,170,542	 	342,745	 	628,897	 	2,142,184	 	10,453,382	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	9,355	9,355	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		10,000		5,726		(4,274)		42.74%	
Non-Resident Annual Fees	0		0		1,122		1,122		0.00%	
Key Fobs	0		0		570		570		0.00%	
Remotes	0		0		6,533		6,533		0.00%	
Cell Tower Lease	28,262		28,262		28,262		(0)		0.00%	
Total Revenues	1,785,271		1,785,271		1,808,433		23,162		(1.30)%	

Expenditures
Legislative
Supervisor Fees	16,000	16,000	12,200	3,800	23.75%	
Financial & Administrative						
Administrative Services	5,800	5,800	5,800	0	0.00%	
District Management	32,500	32,500	32,500	0	0.00%	
District Engineer	20,000	20,000	13,808	6,192	30.96%	
Disclosure Report	3,100	3,100	3,100	0	0.00%	
Trustees Fees	9,000	9,000	11,089	(2,089)	(23.21)%	
Tax Collector /Property Appraiser Fees	150	150	150	0	0.00%	
Financial & Revenue Collections	5,000	5,000	5,000	(0)	0.00%	
Accounting Services	21,000	21,000	21,000	0	0.00%	
Auditing Services	3,550	3,550	3,550	0	0.00%	
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	1,000	1,481	(481)	(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	2,400	2,559	(159)	(6.62)%	
Legal Counsel						
District Counsel	18,000	18,000	16,793	1,207	6.70%	
Law Enforcement						
Contracted Deputy Services	94,000	94,000	93,228	772	0.82%	
Electric Utility Services						
Utility Services	31,000	31,000	29,197	1,803	5.81%	
Street Lighting	85,000	85,000	98,787	(13,787)	(16.22)%	
Garbage/Solid Waste Control						
Garbage - Residential	172,868	172,868	169,500	3,368	1.94%	

Garbage - Recreation Facility	800	800	792	8	1.00%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	

Utility - Recreation Facilities	3,000	3,000	5,296	(2,296)	(76.54)%	
Mitigation Area Monitoring & Maintenance	4,810	4,810	3,200	1,610	33.47%	
Aquatic Plant Replacement	7,500	7,500	2,600	4,900	65.33%	
Aquatic Contract	52,000	52,000	66,611	(14,611)	(28.09)%	
Pasco County Stormwater Assessment	3,000	3,000	3,802	(802)	(26.74)%	
Stormwater System Maintenance	5,000	5,000	0	5,000	100.00%	
Other Physical Environment						
Field Operations	8,700	8,700	10,725	(2,025)	(23.27)%	
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	650	0	650	100.00%	
Entry & Walls Maintenance	5,000	5,000	1,477	3,523	70.46%	
Landscape Maintenance	166,000	166,000	196,546	(30,546)	(18.40)%	
Irrigation Repairs & Maintenance	20,000	20,000	17,930	2,070	10.34%	
Annual Color Rotation	20,000	20,000	686	19,315	96.57%	
Landscape Replacement Plants, Shrubs, Trees	40,000	40,000	23,857	16,143	40.35%	
Mulch Installation	38,000	38,000	47,817	(9,817)	(25.83)%	
Landscape - Fertilizer Applications	30,000	30,000	35,230	(5,230)	(17.43)%	
Tree Trimming/Removal Services	10,800	10,800	3,588	7,213	66.78%	
Fire Ant Treatment	10,000	10,000	0	10,000	100.00%	
Landscape- Pest Control	5,300	5,300	5,490	(190)	(3.58)%	
Well Maintenance	6,000	6,000	1,082	4,918	81.96%	
Lift Station Maintenance	10,000	10,000	760	9,240	92.40%	
Wildlife Management Services	0	0	11,350	(11,350)	0.00%	
Miscellaneous Expenses	18,000	18,000	210	17,790	98.83%	
Road & Street Facilities						
Gate Maintenance	20,000	20,000	36,193	(16,193)	(80.96)%	
Gate Phone	7,500	7,500	7,415	85	1.13%	
Sidewalk Repair & Maintenance	10,000	10,000	7,844	2,156	21.56%	
Street Sign Repairs & Replacement	1,000	1,000	1,040	(40)	(4.00)%	
Roadway Repair & Maintenance	5,000	5,000	16,091	(11,091)	(221.82)%	

Water-Sewer Combination Services Stormwater Control

Street Light/Decorative Light Maintenance	2,000	2,000	578	1,422	71.08%	
Parking Lot Repair & Maintenance	5,000	5,000	0	5,000	100.00%	
Parks & Recreation
Management Contract	275,765	275,765	187,316	88,449	32.07%	
Pool Repairs	5,000	5,000	2,767	2,233	44.65%	
Pool/Water Park/Fountain Maintenance	5,000	5,000	13,982	(8,982)	(179.63)%	
Facilities - Pest Control	550	550	540	10	1.81%	
Facility A/C & Heating Maintenance & Repair	10,000	10,000	564	9,436	94.36%	
Playground Equipment/Maintenance	1,500	1,500	88	1,412	94.13%	
Operating Supplies	4,000	4,000	12,508	(8,508)	(212.71)%	
Dog Waste Station Supplies	1,500	1,500	1,387	113	7.53%	
Vehicle Maintenance	2,000	2,000	2,142	(142)	(7.09)%	
Miscellaneous Expenses	5,000	5,000	8,304	(3,304)	(66.07)%	
Security System Monitoring & Maintenance	2,000	2,000	4,635	(2,635)	(131.74)%	
Clubhouse Internet, Cable, Phone	3,500	0	1,161	(1,161)	66.82%	
Athletic/Park Court/Field Repairs	1,500	1,500	380	1,120	74.66%	
Boardwalk & Bridge Maintenance	10,000	10,000	161	9,839	98.39%	
Computer Support/Maintenance/Repairs	1,000	1,000	1,640	(640)	(63.95)%	
Fitness Equipment Maintenance/Repairs	2,000	2,000	206	1,794	89.70%	
Special Events						
Special Events	7,500	7,500	1,939	5,561	74.14%	
Street Tree Removal Program Phase 2						
Tree Purchase	98,666	98,666	0	98,666	100.00%	
Street Tree Removal	124,375	124,375	64,770	59,605	47.92%	
Street Tree Install	135,993	135,993	62,943	73,050	53.71%	
Contingency						
Capital Outlay	24,000		24,000		22,116		1,884		7.85%	
Reserve Study	5,000		5,000		0		5,000		100.00%	
Total Expenditures	1,785,271		1,781,771		1,441,358		340,413		19.26%	

Excess of Revenues Over (Under) Expenditures	
0		
3,500		
367,075		
363,575		
0.00%	

Other Financing Sources (Uses)										

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Proceeds from Land Sale	
0		
0		
2,350		
2,350		
0.00%	
Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	0		3,500		369,425		365,925		0.00%	

Fund Balance, Beginning of Period										
	0		0		764,774		764,774		0.00%	
Fund Balance, End of Period	 	0		 	3,500		 	1,134,199		 	1,130,699		 	0.00%	

Tax Roll	171,158		171,158		0		0.00%	
Total Revenues	171,158		177,410		6,252		3.65%	

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		
(497,837)		
(497,837)		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
(497,837)		
(497,837)		
0.00%	

Fund Balance, Beginning of Period								
	0		840,582		840,582		0.00%	
Fund Balance, End of Period	 	0		 	342,745		 	342,745		 	0.00%	

Tax Roll	587,460		590,835		3,375		0.57%	
Total Revenues	587,460		596,173		8,713		1.48%	

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		
4,354		
4,354		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
4,354		
4,354		
0.00%	

Fund Balance, Beginning of Period								
	0		461,488		461,488		0.00%	
Fund Balance, End of Period	 	0		 	465,843		 	465,843		 	0.00%	

Tax Roll	353,623		355,654		2,031		0.57%	
Total Revenues	353,623		358,773		5,150		1.46%	

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		
5,223		
5,223		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
5,223		
5,223		
0.00%	

Fund Balance, Beginning of Period								
	0		157,832		157,832		0.00%	
Fund Balance, End of Period	 	0		 	163,055		 	163,055		 	0.00%	

Meadow Pointe III CDD Investment Summary September 30, 2018

Balance as of
Account	Investment	September 30, 2018

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

$	17,458

EagleBank	Money Market Account	9,054
First Tennessee Bank Natl Assn	Money Market Account	144
Five Star Bank	Money Market Account	4
Flushing Bank	Money Market Account	245,188
Fulton Bank, N.A.	Money Market Account	191,878
Independent Bank	Money Market Account	21
Pinnacle Bank	Money Market Account	245,051
The Huntington National Bank	Money Market Account	16
The Park National Bank	Money Market Account	245,212
United Bank	Money Market Account	3
Western Alliance Bank	Money Market Account	70
Total General Fund Investments    $	954,099

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

$	28,781

United Bank	Money Market Account	13

Subtotal	28,794

Asset Replacement
EagleBank	Money Market Account	44,290
Flushing Bank	Money Market Account	3
Fulton Bank, N.A.	Money Market Account	53,170
Illinois National Bank	Money Market Account	216,312
The Huntington National Bank	Money Market Account	38
United Bank	Money Market Account	106
Western Alliance Bank	Money Market Account	32

Subtotal	313,951

Total Reserve Fund Investments    $	342,745

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	163,055	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	100,355	
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	3,920	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	69,969	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,590	

Total Debt Service Fund Investments    $	628,897

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Site Masters of Florida, LLC		
8/14/2018		
081418-3		
Repaired Pothole in Roadway Lanesborough
Cir-Ammandon 08/18			
350.00	
Landscape Maintenance Professionals, Inc.		8/31/2018		136671		Remove Dead Pines Shermigham/ Nesslewood & Clubhouse 08/18			275.00	
Home Depot Credit		9/21/2018		6035 3225 3190 3767		Supplies 09/18			135.85	
Services				09/18						
Pasco County Utilities		9/21/2018		10973103		1500 Meadow Pointe Blvd 08/18			651.96	
Florida Operators and Controls, Inc.		9/24/2018		117452		25 Multicode Remotes 09/18			326.41	
Withlacoochee River Electric Cooperative, Inc.		9/24/2018		1353910 09/18		Street Lights 09/18			1,339.79	
Landscape Maintenance Professionals, Inc.		9/25/2018		137229		Irrigation Repairs 09/18			417.00	
Southern Automated Access Services LLC		9/25/2018		5299		Gate Repair- Heatherstone 09/18			118.75	
Straley Robin Vericker		9/25/2018		16135		General Legal Services 08/18			430.00	
The Sherwin-Williams Co.		9/26/2018		6792-9		Paint Supplies 09/17			26.99	
CINTAS Corporation #074		9/28/2018		4010172414		Supplies 09/18			40.98	
DCSI Inc.		9/28/2018		24508		Access Cards/ 100 Bit Key Fobs 09/18			525.00	
Landscape Maintenance Professionals, Inc.		9/29/2018		137410		Palm Fertilizer 09/18			450.00	
Waste Connections Of Florida		9/30/2018		3922543		Waste Disposal 09/18			14,125.04	
Rizzetta Amenity Services, Inc.		9/30/2018		INV00000000005446		Out Of Pocket Expenses 09/18			112.71	
Stantec Consulting Services Inc.		10/3/2018		1417626		Engineering Services 09/18			1,922.50	
TECO		10/5/2018		0311000030198 09/18		Summary Bill 09/18			9,252.24	
Withlacoochee River Electric Cooperative, Inc.		10/9/2018		Electric Summary 09/18		Electric Summary 09/18			324.22	
Landscape Maintenance Professionals, Inc.		9/29/2019		137411		Pest Control 09/18			460.00	

Vendor Name	Date

Invoice/Credit Number	Description

Current

 	 	 	 	

Total 001 - General Fund

31,284.44

Report Total	31,284.44

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

Balance Sheet

Trust statement activity has been recorded through 09/30/18.
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.