Meadow Pointe III Community Development District

Financial Statements (Unaudited)

October 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 10/31/2018 (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	58,952		0		0		58,952		0		0	
Investments	955,025		0		629,625		1,584,651		0		0	
Investments - Reserves	0		343,083		0		343,083		0		0	
Accounts Receivable	1,760,302		225,158		941,083		2,926,543		0		0	
Prepaid Expenses	0		0		0		0		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		1,570,708	
Amount To be Provided Debt Service	0		0		0		0		0		8,874,292	
Fixed Assets	0		0		0		0		10,453,382		0	
Total Assets	 	2,793,422		 	568,241		 	1,570,708		 	4,932,371		 	10,453,382		 	10,445,000	

Liabilities												
Accounts Payable	34,679		0		0		34,679		0		0	
Sales Tax Payable	235		0		0		235		0		0	
Accrued Expenses Payable	27,428		0		0		27,428		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	62,342		0		0		62,342		0		10,445,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,134,199		342,745		628,897		2,105,842		10,453,382		0	
Net Change in Fund Balance	1,596,880		225,496		941,811		2,764,187		0		0	
Total Fund Equity & Other Credits	2,731,080		568,241		1,570,708		4,870,029		10,453,382		0	

Total Liabities & Fund Equity	 	2,793,422	 	568,241	 	1,570,708	 	4,932,371	 	10,453,382	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	926	926	0.00%	
Special Assessments						
Tax Roll	1,760,309	1,760,309	1,760,302	(7)	0.00%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		833		485		(349)		95.15%	
Key Fobs	0		0		122		122		0.00%	
Remotes	0		0		393		393		0.00%	
Cell Tower Lease	28,262		2,355		2,355		(0)		91.66%	
Total Revenues	1,798,571		1,763,498		1,764,582		1,085		1.89%	

Expenditures
Legislative
Supervisor Fees	16,000	1,333	800	533	95.00%	
Financial & Administrative						
Administrative Services	5,800	483	483	0	91.66%	
District Management	32,500	2,708	2,708	0	91.66%	
District Engineer	20,000	1,667	1,320	347	93.40%	
Disclosure Report	3,100	0	0	0	100.00%	
Trustees Fees	10,000	8,081	7,767	314	22.33%	
Tax Collector /Property Appraiser Fees	150	0	0	0	100.00%	
Financial & Revenue Collections	5,000	417	417	0	91.66%	
Accounting Services	21,000	1,750	1,750	0	91.66%	
Auditing Services	3,675	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,950	0	0	0	100.00%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Public Officials Liability Insurance	3,850	3,850	2,750	1,100	28.57%	
Legal Advertising	1,000	83	119	(36)	88.08%	
Miscellaneous Mailings	2,500	208	0	208	100.00%	
Dues, Licenses & Fees	450	450	175	275	61.11%	
Website Maintenance	2,400	200	200	0	91.66%	
Legal Counsel						
District Counsel	18,000	1,500	3,216	(1,716)	82.13%	
Law Enforcement						
Contracted Deputy Services	94,000	7,833	8,305	(471)	91.16%	
Electric Utility Services						
Utility Services	31,000	2,583	4,629	(2,046)	85.06%	
Street Lighting	98,000	8,167	8,322	(155)	91.50%	
Garbage/Solid Waste Control						
Garbage - Residential	203,400	16,950	14,388	2,562	92.92%	
Garbage - Recreation Facility	800	67	66	1	91.75%	

Solid Waste Assessment Recreational Facility
Water-Sewer Combination Services

1,000	0	0	0	100.00%

Utility - Recreation Facilities	3,000	250	655	(405)	78.16%	
Mitigation Area Monitoring & Maintenance	4,810	401	0	401	100.00%	
Aquatic Plant Replacement	7,500	625	0	625	100.00%	
Aquatic Contract	65,000	5,417	5,383	34	91.71%	
Pasco County Stormwater Assessment	3,800	0	0	0	100.00%	
Stormwater System Maintenance	5,000	417	0	417	100.00%	
Other Physical Environment						
Field Operations	15,000	1,250	725	525	95.16%	
Property Insurance	6,427	6,427	5,928	499	7.76%	
General Liability Insurance	3,850	3,850	3,604	246	6.38%	
Flood Insurance	2,175	2,175	2,459	(284)	(13.05)%	
Street Light Deposit Bond	650	54	0	54	100.00%	
Entry & Walls Maintenance	5,000	417	250	167	95.00%	
Landscape Maintenance	166,000	13,833	16,594	(2,761)	90.00%	
Irrigation Repairs & Maintenance	20,000	1,667	5,955	(4,288)	70.22%	
Annual Color Rotation	20,000	1,667	0	1,667	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	3,333	2,074	1,259	94.81%	
Mulch Installation	38,000	3,167	26,746	(23,579)	29.61%	
Landscape - Fertilizer Applications	30,000	2,500	7,725	(5,225)	74.25%	
Tree Trimming/Removal Services	10,800	900	0	900	100.00%	
Fire Ant Treatment	10,000	833	0	833	100.00%	
Landscape- Pest Control	5,300	442	435	7	91.79%	
Well Maintenance	6,000	500	0	500	100.00%	
Lift Station Maintenance	10,000	833	76	757	99.24%	
Wildlife Management Services	6,000	500	1,200	(700)	80.00%	
Miscellaneous Expenses	18,000	1,500	0	1,500	100.00%	
Road & Street Facilities						
Gate Maintenance	20,000	1,667	95	1,572	99.52%	
Gate Phone	7,500	625	629	(4)	91.60%	
Sidewalk Repair & Maintenance	10,000	833	4,000	(3,167)	60.00%	
Street Sign Repairs & Replacement	1,000	83	0	83	100.00%	
Roadway Repair & Maintenance	5,000	417	0	417	100.00%	
Street Light/Decorative Light Maintenance	2,000	167	0	167	100.00%	
Parking Lot Repair & Maintenance	5,000	417	0	417	100.00%	

Stormwater Control

Parks & Recreation
Management Contract	215,000	17,917	17,566	350	91.82%	
Pool Repairs	5,000	417	0	417	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	417	1,145	(728)	77.10%	
Facilities - Pest Control	550	46	45	1	91.81%	
Facility A/C & Heating Maintenance & Repair	10,000	833	0	833	100.00%	
Playground Equipment/Maintenance	1,500	125	0	125	100.00%	
Operating Supplies	4,000	333	833	(500)	79.17%	
Dog Waste Station Supplies	1,900	158	0	158	100.00%	
Vehicle Maintenance	2,000	167	289	(122)	85.57%	
Miscellaneous Expenses	5,000	417	0	417	100.00%	
Security System Monitoring & Maintenance	2,000	167	485	(318)	75.76%	
Clubhouse Internet, Cable, Phone	3,500	292	199	92	94.30%	
Athletic/Park Court/Field Repairs	1,500	125	95	30	93.66%	
Boardwalk & Bridge Maintenance	10,000	833	0	833	100.00%	
Computer Support/Maintenance/Repairs	1,000	83	0	83	100.00%	
Fitness Equipment Maintenance/Repairs	2,000	167	95	71	95.22%	
Special Events
Special Events	7,500	625	0	625	100.00%	
Street Tree Removal Program						
Tree Purchase	100,000	8,333	0	8,333	100.00%	
Street Tree Removal	125,734	10,478	0	10,478	100.00%	
Street Tree Install	138,000	11,500	0	11,500	100.00%	
Contingency						
Capital Outlay	24,000		2,000		0		2,000		100.00%	
Total Expenditures	1,798,571		175,928		167,702		8,227		90.68%	

Excess of Revenues Over (Under) Expenditures	
0		
1,587,569		
1,596,880		
9,311		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,587,569		
1,596,880		
9,311		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,134,199		1,134,199		0.00%	
Fund Balance, End of Period	 	0		 	1,587,569		 	2,731,080		 	1,143,510		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		225,496		338		0.15%	

Expenditures
Contingency
Asset Replacement Reserve	107,597		0		107,597		100.00%	
Road Reserves	117,561		0		117,561		100.00%	
Total Expenditures	225,158		0		225,158		100.00%	

Excess of Revenues Over (Under) Expenditures	
0		
225,496		
225,496		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
225,496		
225,496		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	568,241		 	568,241		 	0.00%	

Tax Roll	587,460		587,460		0		0.00%	
Total Revenues	587,460		587,938		478		0.08%	

Expenditures								
Debt Service								
Interest	282,460		0		282,460		100.00%	
Principal	305,000		0		305,000		100.00%	
Total Expenditures	587,460		0		587,460		100.00%	

Excess of Revenues Over (Under) Expenditures	
0		
587,938		
587,938		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
587,938		
587,938		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	1,053,781		 	1,053,781		 	0.00%	

Tax Roll	353,623		353,623		0		0.00%	
Total Revenues	353,623		353,873		250		0.07%	

Expenditures								
Debt Service								
Interest	178,623		0		178,623		100.00%	
Principal	175,000		0		175,000		100.00%	
Total Expenditures	353,623		0		353,623		100.00%	

Excess of Revenues Over (Under) Expenditures	
0		
353,873		
353,873		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
353,873		
353,873		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	516,927		 	516,927		 	0.00%	

Meadow Pointe III CDD Investment Summary October 31, 2018

Balance as of
Account	Investment	October 31, 2018

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

$	17,460

Boston Private Bank & Trust Company    Money Market Account	245,242
Flushing Bank	Money Market Account	201,874
Merchants Bank of Indiana	Money Market Account	100
NexBank, SSB	Money Market Account	5
The Huntington National Bank	Money Market Account	97
The Park National Bank	Money Market Account	245,179
United Bank	Money Market Account	245,068
Total General Fund Investments    $	955,025 

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

$	28,802

NexBank, SSB	Money Market Account	8
United Bank	Money Market Account	12
Subtotal	28,822

Asset Replacement
Flushing Bank	
Money Market Account		
43,368	
Merchants Bank of Indiana	Money Market Account		4	
MidFirst Bank	Money Market Account		216,258	
NexBank, SSB	Money Market Account		54,460	
The Huntington National Bank	Money Market Account		47	
United Bank	Money Market Account		124	
		Subtotal	314,261	

Total Reserve Fund Investments    $	343,083 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	163,304	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	100,782	
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	3,926	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	70,014	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	629,625 

10/1/2018	Pasco County Tax Collector	FY18-19	1,760,301.89

Total 001 - General Fund

1,760,301.89

Total 005 - Reserve Fund

225,158.00

2013 & 2015

2007A

Report Balance	2,926,542.72

Meadow Pointe III Community Development District
Aged Payables by Invoice Date Aging Date - 8/1/2018
001 - General Fund
From 10/1/2018 Through 10/31/2018

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

Straley Robin Vericker		
8/20/2018		
16046		
General Legal Services 8/18		
1,605.00	
Fitness Logic		8/29/2018		83832		Reupholster/replace bench seat 8/29/18		95.49	
Department of Economic Opportunity		10/1/2018		71837		Special District Fee FY 18/19		175.00	
DCSI Inc.		10/13/2018		24609		Clubhouse Camera Warranty 10/18		88.89	
DCSI Inc.		10/20/2018		24614		Gate CCTV Warranty/License Plate Camera 10/18		395.88	
Home Depot Credit		10/21/2018		6035 3225 3190 3767		Supplies 10/18		162.72	
Services				10/18					
Pasco County Utilities		10/22/2018		11101656		1500 Meadow Pointe Blvd 09/18		655.15	
Straley Robin Vericker		10/23/2018		16307		General Legal Services 09/18		1,111.16	
Withlacoochee River Electric Cooperative, Inc.		10/23/2018		1353910 10/18		Street Lights 10/18		1,342.53	
Pope's Water Systems, Inc.		10/26/2018		53663-1		7.5 HP 90 Schaefer 3 phase pump w/starter 10/26/18		5,922.00	
CINTAS Corporation #074		10/26/2018		4011440291		Supplies 10/18		25.88	
Landscape Maintenance Professionals, Inc.		10/31/2018		138287		Repair sod at Whitlock entr 500 sqft St Augustine 10/18		480.00	
Landscape Maintenance Professionals, Inc.		10/31/2018		138392		Irrigation Repair - Replace Hunter 24V Solenoid 10/18		33.00	
Landscape Maintenance Professionals, Inc.		10/31/2018		138471		Fertilize Bahia & Ornamental 10/18		7,725.00	
Landscape Maintenance Professionals, Inc.		10/31/2018		138472		Pest Control 10/18		435.00	
Rizzetta Amenity Services, Inc.		10/31/2018		INV00000000005558		Out Of Pocket Expenses 10/18		38.25	
Waste Connections Of Florida		10/31/2018		3946112		Waste Disposal 10/18		14,388.00	
						
Total 001 - General Fund		
34,678.95	

Report Total								
34,678.95	

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

Balance Sheet

Trust statement activity has been recorded through 10/31/18.
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.

Summary A/R Ledger – Payment Terms

Payment terms for landowner assessments are (a) defined in the FY18-19 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.