Meadow Pointe III Community Development District

Financial Statements (Unaudited)

January 31, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 1/31/2019
(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	1,093,452		0		0		1,093,452		0		0	
Investments	1,207,670		0		1,258,420		2,466,090		0		0	
Investments - Reserves	0		569,614		0		569,614		0		0	
Accounts Receivable	91,324		0		96,550		187,874		0		0	
Prepaid Expenses	189		0		0		189		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	0		0		0		0		0		0	
Due From Others	134		0		0		134		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,354,970	
Amount To be Provided Debt Service	0		0		0		0		0		9,090,030	
Fixed Assets	0		0		0		0		11,077,789		0	
Total Assets	 	2,411,911		 	569,614		 	1,354,970		 	4,336,494		 	11,077,789		 	10,445,000	

Liabilities												
Accounts Payable	63,071		0		0		63,071		0		0	
Sales Tax Payable	292		0		0		292		0		0	
Accrued Expenses Payable	1,895		0		0		1,895		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	65,258		0		0		65,258		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	1,215,064		226,869		726,072		2,168,005		0		0	
Total Fund Equity & Other Credits	2,346,653		569,614		1,354,970		4,271,236		11,077,789		0	

Total Liabities & Fund Equity	 	2,411,911	 	569,614	 	1,354,970	 	4,336,494	 	11,077,789	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	3,730	3,730	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		3,333		0		(3,333)		100.00%	
Non-Resident Annual Fees	0		0		70		70		0.00%	
Key Fobs	0		0		178		178		0.00%	
Remotes	0		0		1,374		1,374		0.00%	
Rentals	0		0		1,702		1,702		0.00%	
Cell Tower Lease	28,262		9,421		10,150		729		64.08%	
Total Revenues	1,798,571		1,773,063		1,797,890		24,827		0.04%	

Expenditures
Legislative
Supervisor Fees	16,000	5,333	4,800	533	70.00%	
Financial & Administrative						
Administrative Services	5,800	1,933	1,933	0	66.66%	
District Management	32,500	10,833	10,833	0	66.66%	
District Engineer	20,000	6,667	4,953	1,714	75.23%	
Disclosure Report	3,100	3,100	3,000	100	3.22%	
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	1,667	1,667	0	66.66%	
Accounting Services	21,000	7,000	7,000	0	66.66%	
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	333	224	109	77.60%	
Miscellaneous Mailings	2,500	833	0	833	100.00%	
Dues, Licenses & Fees	450	450	175	275	61.11%	
Website Maintenance	2,400	800	800	0	66.66%	
Legal Counsel						
District Counsel	18,000	6,000	5,219	781	71.00%	
Law Enforcement						
Contracted Deputy Services	94,000	31,333	33,218	(1,885)	64.66%	
Electric Utility Services						
Utility Services	31,000	10,333	9,617	717	68.97%	
Street Lighting	98,000	32,667	32,667	0	66.66%	
Garbage/Solid Waste Control						
Garbage - Residential	203,400	67,800	57,552	10,248	71.70%

Garbage - Recreation Facility	800	267	264	3	67.00%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	
Water-Sewer Combination Services
Utility - Recreation Facilities	3,000	1,000	940	60	68.67% Stormwater Control
Mitigation Area Monitoring & Maintenance	4,810	1,603	700	903	85.44%	
Aquatic Plant Replacement	7,500	2,500	0	2,500	100.00%	
Aquatic Contract	65,000	21,667	21,532	135	66.87%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	1,667	0	1,667	100.00%	
Other Physical Environment						
Field Operations	15,000	5,000	2,900	2,100	80.66%	
Property Insurance	6,427	6,427	6,305	122	1.89%	
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	217	0	217	100.00%	
Entry & Walls Maintenance	5,000	1,667	250	1,417	95.00%	
Landscape Maintenance	166,000	55,333	73,488	(18,154)	55.73%	
Irrigation Repairs & Maintenance	20,000	6,667	5,988	679	70.06%	
Annual Color Rotation	20,000	6,667	0	6,667	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	13,333	6,505	6,828	83.73%	
Mulch Installation	38,000	12,667	26,746	(14,079)	29.61%	
Landscape - Fertilizer Applications	30,000	10,000	8,175	1,825	72.75%	
Tree Trimming/Removal Services	10,800	3,600	0	3,600	100.00%	
Fire Ant Treatment	10,000	3,333	0	3,333	100.00%	
Landscape- Pest Control	5,300	1,767	1,185	582	77.64%	
Well Maintenance	6,000	2,000	0	2,000	100.00%	
Lift Station Maintenance	10,000	3,333	304	3,029	96.96%	
Wildlife Management Services	6,000	2,000	3,600	(1,600)	40.00%	
Miscellaneous Expenses	18,000	6,000	15,405	(9,405)	14.41%	
Road & Street Facilities						
Gate Maintenance	20,000	6,667	12,252	(5,586)	38.73%	
Gate Phone	7,500	2,500	2,629	(129)	64.95%	
Sidewalk Repair & Maintenance	10,000	3,333	10,050	(6,717)	(0.50)%	
Street Sign Repairs & Replacement	1,000	333	0	333	100.00%	
Roadway Repair & Maintenance	5,000	1,667	0	1,667	100.00%	
Street Light/Decorative Light Maintenance	2,000	667	0	667	100.00%	

Parking Lot Repair & Maintenance	5,000	1,667	0	1,667	100.00%	
Parks & Recreation
Management Contract	215,000	71,667	71,149	518	66.90%	
Pool Repairs	5,000	1,667	0	1,667	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	1,667	3,435	(1,768)	31.30%	
Facilities - Pest Control	550	183	180	3	67.27%	
Facility A/C & Heating Maintenance & Repair	10,000	3,333	0	3,333	100.00%	
Playground Equipment/Maintenance	1,500	500	120	380	92.00%	
Operating Supplies	4,000	1,333	3,317	(1,984)	17.07%	
Dog Waste Station Supplies	1,900	633	0	633	100.00%	
Vehicle Maintenance	2,000	667	726	(60)	63.68%	
Miscellaneous Expenses	5,000	1,667	1,503	163	69.93%	
Security System Monitoring & Maintenance	2,000	667	3,063	(2,397)	(53.16)%	
Clubhouse Internet, Cable, Phone	3,500	1,167	625	542	82.14%	
Athletic/Park Court/Field Repairs	1,500	500	996	(496)	33.59%	
Boardwalk & Bridge Maintenance	10,000	3,333	0	3,333	100.00%	
Computer Support/Maintenance/Repairs	1,000	333	0	333	100.00%	
Fitness Equipment Maintenance/Repairs	2,000	667	0	667	100.00%	
Special Events						
Special Events	7,500	2,500	0	2,500	100.00%	
Street Tree Removal Program						
Tree Purchase	100,000	33,333	28,825	4,508	71.17%	
Street Tree Removal	125,734	41,911	69,225	(27,314)	44.94%	
Street Tree Install	138,000	46,000	0	46,000	100.00%	
Contingency						
Capital Outlay	24,000		8,000		0		8,000		100.00%	
Total Expenditures	1,798,571		622,114		582,826		39,289		67.60%	

Excess of Revenues Over (Under) Expenditures	
0		
1,150,949		
1,215,064		
64,116		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,150,949		
1,215,064		
64,116		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,131,588		1,131,588		0.00%	
Fund Balance, End of Period	 	0		 	1,150,949		 	2,346,653		 	1,195,704		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		226,869		1,711		0.76%	

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		
226,869		
226,869		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
226,869		
226,869		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	569,614		 	569,614		 	0.00%	

Tax Roll	587,460		593,491		6,032		1.02%	
Total Revenues	587,460		595,598		8,138		1.39%	

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		
458,523		
458,523		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
458,523		
458,523		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	924,366		 	924,366		 	0.00%	

Tax Roll	353,623		357,254		3,631		1.02%	
Total Revenues	353,623		358,318		4,695		1.33%	

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		
267,549		
267,549		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
267,549		
267,549		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	430,604		 	430,604		 	0.00%	

Meadow Pointe III CDD Investment Summary January 31, 2019

Balance as of
Account	Investment	January 31, 2019

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

$	2,523

First National Bank of Omaha	Money Market Account	245,046
Flushing Bank	Money Market Account	142
Franklin Synergy Bank	Money Market Account	2
Hills Bank and Trust Company	Money Market Account	245,090
Pinnacle Bank	Money Market Account	245,192
The Huntington National Bank	Money Market Account	245,250
Western Alliance Bank	Money Market Account	224,425

Total General Fund Investments    $	1,207,670 

The Bank of Tampa ICS Program: Road Reserve
Mutual of Omaha Bank	Money Market Account		$	146,621	
Pinnacle Bank	Money Market Account		23	
		Subtotal	146,644	
Asset Replacement				
Flushing Bank	Money Market Account		58,296	
Hills Bank and Trust Company	Money Market Account		1	
Mutual of Omaha Bank	Money Market Account		98,580	
Pinnacle Bank	Money Market Account		26	
United Bank	Money Market Account		245,250	
Western Alliance Bank	Money Market Account		20,818	
		Subtotal	422,970	

Total Reserve Fund Investments    $	569,614 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	394,316	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	331,746	
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	22,261	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	218,498	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	1,258,420 

Total 001 - General Fund

91,324.06

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 1/1/2019 Through 1/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	60,261.64

Total 200 - Debt Service Fund - Series 2013 & 2015

60,261.64

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 1/1/2019 Through 1/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	36,288.50

Total 202 - Debt Service Fund - Series 2007A

36,288.50

Report Balance	187,874.20

Vendor Name		Date			Invoice/Credit Number		Description		Current		

Landscape Maintenance Professionals, Inc.			
10/19/2018		
137704		
Replant bed West of Alchester 10/18			
580.38	
Landscape Maintenance Professionals, Inc.			11/9/2018		138529		Irrigation Repairs- Faulty Solenoid 11/18			33.00	
Straley Robin Vericker			11/27/2018		16479		General Legal Services 10/18			2,105.00	
U.S. Water Services Corporation			12/3/2018		881353		Monthly Lift Station Inspection 12/18			76.00	
CINTAS Corporation #074			12/7/2018		4013327777		Supplies 12/18			90.18	
Landscape Maintenance Professionals, Inc.			12/11/2018		139377		Fill Void Area Plant Bed Across from ClubHouse 12/18			450.00	
CINTAS Corporation #074			12/21/2018		4013965886		Supplies 12/18			25.00	
CINTAS Corporation #074			1/4/2019		4014616905		Supplies 01/19			90.18	
Marshall Tree Farm			1/16/2019		28290		Ligustrum Japonicum
(32) Trees 01/19			15,750.00	
Marshall Tree Farm			1/17/2019		28299		Tuscarora Crape Myrtle
(30) Trees 01/19			9,800.00	
Marshall Tree Farm			1/18/2019		28302		Tuscarora Crape Myrtle
(19) Trees 01/19			3,275.00	
CINTAS Corporation #074			1/18/2019		4015275941		Supplies 01/19			25.00	
DCSI Inc.			1/20/2019		25032		Gate CCTV Warranty/License Plate Camera 01/19			395.88	
Home Depot Credit			1/21/2019		6035 3225 3190 3767		Supplies 01/19			72.31	
Services					01/19						
Pasco County Utilities			1/23/2019		11459409		1500 Meadow Pointe Blvd 12/18			199.70	
Straley Robin Vericker			1/23/2019		16678		General Legal Services 01/19			1,755.00	
Withlacoochee River Electric Cooperative, Inc.			1/23/2019		1353910 01/19		Street Lights 01/19			1,339.31	
Rizzetta Amenity Services, Inc.			1/25/2019		INV00000000005790		Employee Insurance Reimbursement 01/19			208.93	
Signarama of New Tampa			1/25/2019		SAR-3739		Banner Patch (2) 1/19			43.76	

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Landscape Maintenance Professionals, Inc.		
1/25/2019		
140907		
Install Sod Where Street Trees Were Removed 01/19			
1,976.25	
Welch Tennis Courts, Inc.		1/28/2019		50618		Court Sponge Unit & Professional Net 01/19			228.26	
Southern Automated Access Services LLC		1/29/2019		5739		Gate Repairs - Installed Antenna 1/19			95.00	
Southern Automated Access Services LLC		1/29/2019		5740		Gate Repairs - No Dial Tone - Corroded Splices 1/19			95.00	
Southern Automated Access Services LLC		1/31/2019		5752		Gate Repairs - Replaced Detector 1/19			180.00	
Site Masters of Florida, LLC		1/31/2019		013119-1		Removed & Replaced Sidewalk Panel - Beardsley 01/19			750.00	
Rizzetta Amenity Services, Inc.		1/31/2019		INV00000000005821		Out Of Pocket Expenses 01/19			92.58	
Landscape Maintenance Professionals, Inc.		1/31/2019		141104		Pest Control 01/19			300.00	
Waste Connections Of Florida		1/31/2019		4014912		Waste Disposal 01/19			14,388.00	
TECO		2/5/2019		0311000030198 0119		Summary Bill 01/19			8,651.54	
						
Total 001 - General Fund			
63,071.26	

Report Total									
63,071.26	

Notes to Unaudited Financial Statements January 31, 2019

Balance Sheet

Trust statement activity has been recorded through 01/31/19.
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 $25,373.00 was received in February 2019.
Debt Service Fund 202 – Payment for Invoice FY18-19 in the amount of $15,282.34 was received in February 2019.