Meadow Pointe III Community Development District

Financial Statements (Unaudited)

December 31, 2018

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 12/31/2018 (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	1,579,148		0		0		1,579,148		0		0	
Investments	961,682		0		1,203,850		2,165,532		0		0	
Investments - Reserves	0		569,033		0		569,033		0		0	
Accounts Receivable	91,324		0		114,411		205,735		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		35,597		35,597		0		0	
Due From Others	134		0		0		134		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,353,859	
Amount To be Provided Debt Service	0		0		0		0		0		9,091,141	
Fixed Assets	0		0		0		0		11,077,789		0	
Total Assets	 	2,651,430		 	569,033		 	1,353,859		 	4,574,322		 	11,077,789		 	10,445,000	

Liabilities												
Accounts Payable	99,873		0		0		99,873		0		0	
Sales Tax Payable	181		0		0		181		0		0	
Accrued Expenses Payable	29,282		0		0		29,282		0		0	
Due to Other Funds	35,597		0		0		35,597		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,445,000	
Total Liabilities	164,934		0		0		164,934		0		10,445,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,131,588		342,745		628,897		2,103,231		11,077,789		0	
Net Change in Fund Balance	1,354,908		226,288		724,961		2,306,158		0		0	
Total Fund Equity & Other Credits	2,486,496		569,033		1,353,859		4,409,388		11,077,789		0	

Total Liabities & Fund Equity	 	2,651,430	 	569,033	 	1,353,859	 	4,574,322	 	11,077,789	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	2,741	2,741	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		2,500		0		(2,500)		100.00%	
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%	
Rentals	0		0		1,045		1,045		0.00%	
Cell Tower Lease	28,262		7,066		7,324		258		74.08%	
Total Revenues	1,798,571		1,769,875		1,792,728		22,853		0.32%	

Expenditures
Legislative
Supervisor Fees	16,000	4,000	2,800	1,200	82.50%	
Financial & Administrative						
Administrative Services	5,800	1,450	1,450	0	75.00%	
District Management	32,500	8,125	8,125	0	75.00%	
District Engineer	20,000	5,000	2,680	2,320	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	1,250	1,250	0	74.99%	
Accounting Services	21,000	5,250	5,250	0	75.00%	
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	250	224	26	77.60%	
Miscellaneous Mailings	2,500	625	0	625	100.00%	
Dues, Licenses & Fees	450	450	175	275	61.11%	
Website Maintenance	2,400	600	600	0	75.00%	
Legal Counsel						
District Counsel	18,000	4,500	1,359	3,141	92.44%	
Law Enforcement						
Contracted Deputy Services	94,000	23,500	24,914	(1,414)	73.49%	
Electric Utility Services						
Utility Services	31,000	7,750	7,071	679	77.19%	
Street Lighting	98,000	24,500	24,478	22	75.02%	
Garbage/Solid Waste Control						
Garbage - Residential	203,400	50,850	43,164	7,686	78.77%	

Garbage - Recreation Facility	800	200	198	2	75.25%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	

Utility - Recreation Facilities	3,000	750	790	(40)	73.66%	
Mitigation Area Monitoring & Maintenance	4,810	1,202	0	1,202	100.00%	
Aquatic Plant Replacement	7,500	1,875	0	1,875	100.00%	
Aquatic Contract	65,000	16,250	16,149	101	75.15%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	1,250	0	1,250	100.00%	
Other Physical Environment						
Field Operations	15,000	3,750	2,175	1,575	85.50%	
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	163	0	163	100.00%	
Entry & Walls Maintenance	5,000	1,250	250	1,000	95.00%	
Landscape Maintenance	166,000	41,500	55,397	(13,897)	66.62%	
Irrigation Repairs & Maintenance	20,000	5,000	5,955	(955)	70.22%	
Annual Color Rotation	20,000	5,000	0	5,000	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	10,000	5,924	4,076	85.18%	
Mulch Installation	38,000	9,500	26,746	(17,246)	29.61%	
Landscape - Fertilizer Applications	30,000	7,500	8,175	(675)	72.75%	
Tree Trimming/Removal Services	10,800	2,700	0	2,700	100.00%	
Fire Ant Treatment	10,000	2,500	0	2,500	100.00%	
Landscape- Pest Control	5,300	1,325	1,310	15	75.28%	
Well Maintenance	6,000	1,500	0	1,500	100.00%	
Lift Station Maintenance	10,000	2,500	1,352	1,148	86.48%	
Wildlife Management Services	6,000	1,500	3,600	(2,100)	40.00%	
Miscellaneous Expenses	18,000	4,500	0	4,500	100.00%	
Road & Street Facilities						
Gate Maintenance	20,000	5,000	11,129	(6,129)	44.35%	
Gate Phone	7,500	1,875	1,950	(75)	74.00%	
Sidewalk Repair & Maintenance	10,000	2,500	9,300	(6,800)	7.00%	
Street Sign Repairs & Replacement	1,000	250	0	250	100.00%	
Roadway Repair & Maintenance	5,000	1,250	0	1,250	100.00%	
Street Light/Decorative Light Maintenance	2,000	500	0	500	100.00%	

Water-Sewer Combination Services Stormwater Control

Parking Lot Repair & Maintenance	5,000	1,250	0	1,250	100.00%	
Parks & Recreation
Management Contract	215,000	53,750	52,950	800	75.37%	
Pool Repairs	5,000	1,250	0	1,250	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	1,250	3,435	(2,185)	31.30%	
Facilities - Pest Control	550	137	135	2	75.45%	
Facility A/C & Heating Maintenance & Repair	10,000	2,500	0	2,500	100.00%	
Playground Equipment/Maintenance	1,500	375	120	255	92.00%	
Operating Supplies	4,000	1,000	2,202	(1,202)	44.95%	
Dog Waste Station Supplies	1,900	475	0	475	100.00%	
Vehicle Maintenance	2,000	500	620	(120)	68.99%	
Miscellaneous Expenses	5,000	1,250	785	465	84.30%	
Security System Monitoring & Maintenance	2,000	500	1,395	(895)	30.24%	
Clubhouse Internet, Cable, Phone	3,500	875	204	671	94.16%	
Athletic/Park Court/Field Repairs	1,500	375	95	280	93.66%	
Boardwalk & Bridge Maintenance	10,000	2,500	0	2,500	100.00%	
Computer Support/Maintenance/Repairs	1,000	250	0	250	100.00%	
Fitness Equipment Maintenance/Repairs	2,000	500	0	500	100.00%	
Special Events						
Special Events	7,500	1,875	0	1,875	100.00%	
Street Tree Removal Program						
Tree Purchase	100,000	25,000	0	25,000	100.00%	
Street Tree Removal	125,734	31,433	69,225	(37,792)	44.94%	
Street Tree Install	138,000	34,500	0	34,500	100.00%	
Contingency						
Capital Outlay	24,000		6,000		0		6,000		100.00%	
Total Expenditures	1,798,571		472,919		437,820		35,099		75.66%	

Excess of Revenues Over (Under) Expenditures	
0		
1,296,955		
1,354,908		
57,953		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,296,955		
1,354,908		
57,953		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,131,588		1,131,588		0.00%	
Fund Balance, End of Period	 	0		 	1,296,955		 	2,486,496		 	1,189,541		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		226,288		1,130		0.50%	

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		
226,288		
226,288		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
226,288		
226,288		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	569,033		 	569,033		 	0.00%	

Tax Roll	587,460		593,491		6,032		1.02%	
Total Revenues	587,460		594,890		7,430		1.26%	

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		
457,815		
457,815		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
457,815		
457,815		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	923,658		 	923,658		 	0.00%	

Interest Earnings	0		661		661		0.00%	
Special Assessments								
Tax Roll	353,623		357,254		3,631		1.02%	
Total Revenues	353,623		357,915		4,292		1.21%	

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		
267,146		
267,146		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
267,146		
267,146		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	430,201		 	430,201		 	0.00%	

Meadow Pointe III CDD Investment Summary December 31, 2018

Balance as of
Account	Investment	December 31, 2018

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

$	247,497

Boston Private Bank & Trust Company     Money Market Account	16
First National Bank of Omaha	Money Market Account	245,174
First Tennessee Bank Natl Assn	Money Market Account	13
Flushing Bank	Money Market Account	166,622
Franklin Synergy Bank	Money Market Account	56,921
Morton Community Bank	Money Market Account	126
The Huntington National Bank	Money Market Account	245,250
United Bank	Money Market Account	63
Total General Fund Investments    $	961,682 

The Bank of Tampa ICS Program:
Road Reserve
Flushing Bank	Money Market Account	$	2
Morton Community Bank	Money Market Account	6
Mutual of Omaha Bank	Money Market Account	146,485
NexBank, SSB	Money Market Account	2
Subtotal	146,495
Asset Replacement
First National Bank of Omaha	Money Market Account	29
First Tennessee Bank, NA	Money Market Account	3
Flushing Bank	Money Market Account	78,599
Morton Community Bank	Money Market Account	22
Mutual of Omaha Bank	Money Market Account	98,746
NexBank, SSB	Money Market Account	14
United Bank	Money Market Account		245,125 Subtotal	422,538

Total Reserve Fund Investments    $	569,033 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	373,833
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	310,458 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		22,220
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180
US Bank Series 2015A Revenue	US Bank Money Market 5	205,740
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591

Total Debt Service Fund Investments    $	1,203,850 

Total 001 - General Fund

91,324.06

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 12/1/2018 Through 12/31/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	71,414.19

Total 200 - Debt Service Fund - Series 2013 & 2015

71,414.19

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 12/1/2018 Through 12/31/2018

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	42,997.18

Total 202 - Debt Service Fund - Series 2007A

42,997.18

Report Balance	205,735.43

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Mid Florida Tree Service, Inc.		
11/28/2018		
4259		
Tree Removal Club House 11/18			
5,375.00	
A-Team Portable Welding, LLC		12/10/2018		3621		Gate Welding Repair - 12/18			150.00	
Florida Operators and Controls, Inc.		12/10/2018		118288		25 Multicode Remotes 12/18			355.75	
Southern Automated Access Services LLC		12/10/2018		5549		Gate Repairs Chatterly 12/18			215.00	
Southern Automated Access Services LLC		12/10/2018		5550		Gate Repairs Heatherstone 12/18			95.00	
Landscape Maintenance Professionals, Inc.		12/12/2018		139407		Replace Perennials at the Clubhouse 12/18			681.80	
Landscape Maintenance Professionals, Inc.		12/12/2018		139408		Replace Perennials at Wrencrest Entrance 12/18			779.20	
Rizzetta Amenity Services, Inc.		12/14/2018		INV00000000005672		Amenity Management Services 12/18			17,485.05	
Mid Florida Tree Service, Inc.		12/14/2018		4311		Removed Trees Whitlock Broughton Place 12/18			63,850.00	
Straley Robin Vericker		12/18/2018		16493		General Legal Services 12/18			1,359.03	
Michael J Hall		12/19/2018		MH121918		Board of Supervisors Meeting 12/19/18			200.00	
Pasco County Utilities		12/19/2018		11356853		1500 Meadow Pointe Blvd 11/18			250.94	
Paul Carlucci		12/19/2018		PC121918		Board of Supervisors Meeting 12/19/18			200.00	
Glen Richard Aleo		12/19/2018		GA121918		Board of Supervisors Meeting 12/19/18			200.00	
John A. Johnson		12/19/2018		JJ121918		Board of Supervisors Meeting 12/19/18			200.00	
Arthur R Daddio		12/19/2018		RD121918		Board of Supervisors Meeting 12/19/18			200.00	
Southern Automated Access Services LLC		12/20/2018		5612		Cellular Usage Gate 813-720-3950 12/18			49.95	
Withlacoochee River Electric Cooperative, Inc.		12/20/2018		1353910 12/18		Street Lights 12/18			1,362.67	
Times Publishing Company		12/21/2018		722979 12/21/18		Account #119369 Legal Advertising 12/18			104.80	

Vendor Name	Date

Invoice/Credit Number	Description

Current

 	 	 	 	

Landscape Maintenance Professionals, Inc.

Rizzetta Amenity Services, Inc.
Southern Automated Access Services LLC

12/21/2018      139589		Install Sod Where Street Trees Were Removed 12/18
12/27/2018	INV00000000005703	Amenity Management
Services 12/18
12/28/2018	5617		Gate Repairs Whitlock 12/18

6,389.45

227.18

142.50

Total 001 - General Fund

99,873.32

Report Total	99,873.32

Notes to Unaudited Financial Statements December 31, 2018

Balance Sheet

Trust statement activity has been recorded through 12/31/18.
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.

Summary A/R Ledger – Subsequent Collections

Debt Service Fund 200 – Payment for Invoice FY18-19 in the amount of $11,152.55 was received in January 2019.
Debt Service Fund 202 – Payment for Invoice FY18-19 in the amount of $6,708.68 was received in January 2019.