Meadow Pointe III Community Development District

Financial Statements (Unaudited)

November 30, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 11/30/2018 (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	150,692		0		0		150,692		0		0	
Investments	955,953		0		501,045		1,456,997		0		0	
Investments - Reserves	0		343,422		0		343,422		0		0	
Accounts Receivable	1,573,001		225,158		852,304		2,650,463		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		1,353,349	
Amount To be Provided Debt Service	0		0		0		0		0		9,091,651	
Fixed Assets	0		0		0		0		10,453,382		0	
Total Assets	 	2,698,788		 	568,580		 	1,353,349		 	4,620,716		 	10,453,382		 	10,445,000	

Liabilities												
Accounts Payable	22,580		0		0		22,580		0		0	
Sales Tax Payable	233		0		0		233		0		0	
Accrued Expenses Payable	25,179		0		0		25,179		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	47,992		0		0		47,992		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	1,516,596		225,835		724,452		2,466,882		0		0	
Total Fund Equity & Other Credits	2,650,795		568,580		1,353,349		4,572,724		10,453,382		0	

Total Liabities & Fund Equity	 	2,698,788	 	568,580	 	1,353,349	 	4,620,716	 	10,453,382	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	1,854	1,854	0.00%	
Special Assessments						
Tax Roll	1,760,309	1,760,309	1,780,687	20,378	(1.15)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		1,667		1,045		(621)		89.54%	
Non-Resident Annual Fees	0		0		70		70		0.00%	
Key Fobs	0		0		131		131		0.00%	
Remotes	0		0		729		729		0.00%	
Cell Tower Lease	28,262		4,710		4,710		(0)		83.33%	
Total Revenues	1,798,571		1,766,686		1,789,227		22,541		0.52%	

Expenditures
Legislative
Supervisor Fees	16,000	2,667	1,800	867	88.75%	
Financial & Administrative						
Administrative Services	5,800	967	967	0	83.33%	
District Management	32,500	5,417	5,417	0	83.33%	
District Engineer	20,000	3,333	2,680	653	86.60%	
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	833	833	0	83.33%	
Accounting Services	21,000	3,500	3,500	0	83.33%	
Auditing Services	3,675	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,950	0	500	(500)	74.35%	
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	167	119	47	88.08%	
Miscellaneous Mailings	2,500	417	0	417	100.00%	
Dues, Licenses & Fees	450	450	175	275	61.11%	
Website Maintenance	2,400	400	400	0	83.33%	
Legal Counsel						
District Counsel	18,000	3,000	3,416	(416)	81.02%	
Law Enforcement						
Contracted Deputy Services	94,000	15,667	16,609	(942)	82.33%	
Electric Utility Services						
Utility Services	31,000	5,167	4,843	323	84.37%	
Street Lighting	98,000	16,333	16,644	(310)	83.01%	
Garbage/Solid Waste Control						
Garbage - Residential	203,400	33,900	28,513	5,387	85.98%	
Garbage - Recreation Facility	800	133	132	1	83.50%	

Solid Waste Assessment Recreational Facility
Water-Sewer Combination Services

1,000	1,000	934	66	6.57%

Utility - Recreation Facilities	3,000	500	589	(89)	80.36%	
Mitigation Area Monitoring & Maintenance	4,810	802	0	802	100.00%	
Aquatic Plant Replacement	7,500	1,250	0	1,250	100.00%	
Aquatic Contract	65,000	10,833	10,766	67	83.43%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	833	0	833	100.00%	
Other Physical Environment						
Field Operations	15,000	2,500	1,450	1,050	90.33%	
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	108	0	108	100.00%	
Entry & Walls Maintenance	5,000	833	250	583	95.00%	
Landscape Maintenance	166,000	27,667	32,894	(5,227)	80.18%	
Irrigation Repairs & Maintenance	20,000	3,333	5,955	(2,622)	70.22%	
Annual Color Rotation	20,000	3,333	0	3,333	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	6,667	2,074	4,592	94.81%	
Mulch Installation	38,000	6,333	26,746	(20,413)	29.61%	
Landscape - Fertilizer Applications	30,000	5,000	7,725	(2,725)	74.25%	
Tree Trimming/Removal Services	10,800	1,800	0	1,800	100.00%	
Fire Ant Treatment	10,000	1,667	0	1,667	100.00%	
Landscape- Pest Control	5,300	883	860	23	83.77%	
Well Maintenance	6,000	1,000	0	1,000	100.00%	
Lift Station Maintenance	10,000	1,667	152	1,515	98.48%	
Wildlife Management Services	6,000	1,000	2,400	(1,400)	60.00%	
Miscellaneous Expenses	18,000	3,000	0	3,000	100.00%	
Road & Street Facilities						
Gate Maintenance	20,000	3,333	10,171	(6,838)	49.14%	
Gate Phone	7,500	1,250	1,270	(20)	83.06%	
Sidewalk Repair & Maintenance	10,000	1,667	9,300	(7,633)	7.00%	
Street Sign Repairs & Replacement	1,000	167	0	167	100.00%	
Roadway Repair & Maintenance	5,000	833	0	833	100.00%	
Street Light/Decorative Light Maintenance	2,000	333	0	333	100.00%	
Parking Lot Repair & Maintenance	5,000	833	0	833	100.00%	

Stormwater Control

Parks & Recreation
Management Contract	215,000	35,833	35,137	696	83.65%	
Pool Repairs	5,000	833	0	833	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	833	2,290	(1,457)	54.20%	
Facilities - Pest Control	550	92	90	2	83.63%	
Facility A/C & Heating Maintenance & Repair	10,000	1,667	0	1,667	100.00%	
Playground Equipment/Maintenance	1,500	250	0	250	100.00%	
Operating Supplies	4,000	667	1,786	(1,119)	55.35%	
Dog Waste Station Supplies	1,900	317	0	317	100.00%	
Vehicle Maintenance	2,000	333	440	(107)	77.97%	
Miscellaneous Expenses	5,000	833	0	833	100.00%	
Security System Monitoring & Maintenance	2,000	333	1,127	(794)	43.64%	
Clubhouse Internet, Cable, Phone	3,500	583	204	379	94.17%	
Athletic/Park Court/Field Repairs	1,500	250	95	155	93.66%	
Boardwalk & Bridge Maintenance	10,000	1,667	0	1,667	100.00%	
Computer Support/Maintenance/Repairs	1,000	167	0	167	100.00%	
Fitness Equipment Maintenance/Repairs	2,000	333	95	238	95.22%	
Special Events
Special Events	7,500	1,250	0	1,250	100.00%	
Street Tree Removal Program						
Tree Purchase	100,000	16,667	0	16,667	100.00%	
Street Tree Removal	125,734	20,956	0	20,956	100.00%	
Street Tree Install	138,000	23,000	0	23,000	100.00%	
Contingency						
Capital Outlay	24,000		4,000		0		4,000		100.00%	
Total Expenditures	1,798,571		326,824		272,631		54,193		84.84%	

Excess of Revenues Over (Under) Expenditures	
0		
1,439,862		
1,516,596		
76,734		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,439,862		
1,516,596		
76,734		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,134,199		1,134,199		0.00%	
Fund Balance, End of Period	 	0		 	1,439,862		 	2,650,795		 	1,210,933		 	0.00%	

Interest Earnings	0		677		677		0.00%	
Special Assessments								
Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		225,835		677		0.30%	

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		
225,835		
225,835		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
225,835		
225,835		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	568,580		 	568,580		 	0.00%	

Interest Earnings	0		1,017		1,017		0.00%	
Special Assessments								
Tax Roll	587,460		593,491		6,032		1.02%	
Total Revenues	587,460		594,509		7,049		1.20%	

Expenditures								
Debt Service								
Interest	282,460		137,075		145,385		51.47%	
Principal	305,000		0		305,000		100.00%	
Total Expenditures	587,460		137,075		450,385		76.67%	

Excess of Revenues Over (Under) Expenditures	
0		
457,434		
457,434		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
457,434		
457,434		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	923,276		 	923,276		 	0.00%	

Interest Earnings	0		533		533		0.00%	
Special Assessments								
Tax Roll	353,623		357,254		3,631		1.02%	
Total Revenues	353,623		357,787		4,164		1.18%	

Expenditures								
Debt Service								
Interest	178,623		90,769		87,854		49.18%	
Principal	175,000		0		175,000		100.00%	
Total Expenditures	353,623		90,769		262,854		74.33%	

Excess of Revenues Over (Under) Expenditures	
0		
267,018		
267,018		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
267,018		
267,018		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	430,073		 	430,073		 	0.00%	

Meadow Pointe III CDD Investment Summary November 30, 2018

Balance as of
Account	Investment	November 30, 2018

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

$	17,462

Boston Private Bank & Trust Company    Money Market Account	245,242
First National Bank of Omaha	Money Market Account	55
First Tennessee Bank Natl Assn	Money Market Account	202,619
Mutual of Omaha Bank	Money Market Account	19
The Huntington National Bank	Money Market Account	245,242
The Park National Bank	Money Market Account	72
United Bank	Money Market Account	245,242
Total General Fund Investments    $	955,953
The Bank of Tampa ICS Program: Road Reserve
Mutual of Omaha Bank	Money Market Account		$	18	
NexBank, SSB	Money Market Account		28,833	
		Subtotal	28,851	
Asset Replacement
First National Bank of Omaha	
Money Market Account		
48	
First Tennessee Bank, NA	Money Market Account		42,445	
Mutual of Omaha Bank	Money Market Account		55,810	
NexBank, SSB	Money Market Account		216,257	
The Park National Bank	Money Market Account		11	
		Subtotal	314,571	

Total Reserve Fund Investments    $	343,422

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	109,809	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	38,555	
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	22,182	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	38,900	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	501,045

10/1/2018	Pasco County Tax Collector	FY18-19	1,573,000.59

Total 001 - General Fund

1,573,000.59

Total 005 - Reserve Fund

225,158.00

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 11/1/2018 Through 11/30/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	532,040.91

Total 200 - Debt Service Fund - Series 2013 & 2015

532,040.91

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 11/1/2018 Through 11/30/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	320,263.48

Total 202 - Debt Service Fund - Series 2007A

320,263.48

Report Balance	2,650,462.98

Vendor Name		Date		Invoice/Credit Number		Description		Current		

LLS Tax Solutions Inc.		
9/20/2018		
001556		
Rebate Arbitrage Series 2007 PE 08/31/18			
500.00	
Florida Operators and Controls, Inc.		10/31/2018		117872		25 Multicode Remotes 10/18			326.06	
Pasco County Sheriff's Office		11/1/2018		110118		Law Enforcement Services Installment #2
- 11/18			8,304.50	
DCSI Inc.		11/20/2018		24756		Gate CCTV Warranty/License Plate Camera 11/18			395.88	
Southern Automated Access Services LLC		11/20/2018		5467		Gate repairs - Sheringham 10/18			95.00	
Southern Automated Access Services LLC		11/21/2018		5512		Cellular Usage Gate 813-720-3950 11/18			14.50	
Site Masters of Florida, LLC		11/21/2018		112118-1		Asphalt Repairs At Entrances 11/18			1,550.00	
Michael J Hall		11/21/2018		MH112118		Board of Supervisors Meeting 11/21/18			200.00	
Pasco County Utilities		11/21/2018		11225440		1500 Meadow Pointe Blvd 10/18			233.86	
Paul Carlucci		11/21/2018		PC112118		Board of Supervisors Meeting 11/21/18			200.00	
Glen Richard Aleo		11/21/2018		GA112118		Board of Supervisors Meeting 11/21/18			200.00	
John A. Johnson		11/21/2018		JJ112118		Board of Supervisors Meeting 11/21/18			200.00	
Arthur R Daddio		11/21/2018		RD112118		Board of Supervisors Meeting 11/21/18			200.00	
CINTAS Corporation #074		11/21/2018		4012684181		Supplies 11/18			25.00	
Withlacoochee River Electric Cooperative, Inc.		11/21/2018		1353910 11/18		Street Lights 11/18			1,342.53	
Stantec Consulting Services Inc.		11/26/2018		1440301		Engineering Services 11/18			1,360.00	
Southern Automated Access Services LLC		11/28/2018		5520		Battery Backups/Batteries Replacement 11/18			7,293.40	
Rizzetta Amenity Services, Inc.		11/30/2018		INV00000000005616		Out Of Pocket Expenses 11/18			44.05	

Vendor Name	Date

Invoice/Credit Number	Description

Current

 	 	 	 	

Southern Automated Access Services LLC

12/3/2018	5530		Gate Repairs - Whitlock 11/18

95.00

Total 001 - General Fund

22,579.78

Report Total	22,579.78

Notes to Unaudited Financial Statements November 30, 2018

Balance Sheet

Trust statement activity has been recorded through 11/30/18.
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.

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.

Summary A/R Ledger – Subsequent Collections

General Fund – Payment for Invoice FY18-19 in the amount of $1,218,539.86 was received in December 2018.
Reserve Fund – Payment for Invoice FY18-19 in the amount of $225,158.00 was received in December 2018.
Debt Service Fund 200 – Payment for Invoice FY18-19 in the amount of $360,542.75 was received in December 2018.
Debt Service Fund 202 – Payment for Invoice FY18-19 in the amount of $217,029.70 was received in December 2018.