Meadow Pointe III Community Development District

Financial Statements (Unaudited)

March 31, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 3/31/2019
(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	170,350		0		0		170,350		0		0	
Investments	1,701,989		0		1,321,604		3,023,593		0		0	
Investments - Reserves	0		571,320		0		571,320		0		0	
Accounts Receivable	78,006		0		36,974		114,980		0		0	
Prepaid Expenses	189		0		0		189		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	15,513		0		0		15,513		0		0	
Due From Others	134		0		0		134		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,358,578	
Amount To be Provided Debt Service	0		0		0		0		0		9,086,422	
Fixed Assets	0		0		0		0		11,137,836		0	
Total Assets	 	1,985,322		 	571,320		 	1,358,578		 	3,915,219		 	11,137,836		 	10,445,000	

Liabilities												
Accounts Payable	36,768		0		0		36,768		0		0	
Sales Tax Payable	346		0		0		346		0		0	
Accrued Expenses Payable	1,400		0		0		1,400		0		0	
Other Current Liabilities	100		0		0		100		0		0	
Due to Other Funds	0		15,513		0		15,513		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		10,445,000	
Total Liabilities	38,614		15,513		0		54,126		0		10,445,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,131,588		342,745		628,897		2,103,231		11,137,836		0	
Net Change in Fund Balance	815,120		213,063		729,680		1,757,862		0		0	
Total Fund Equity & Other Credits	1,946,708		555,808		1,358,578		3,861,093		11,137,836		0	

Total Liabities & Fund Equity	 	1,985,322	 	571,320	 	1,358,578	 	3,915,219	 	11,137,836	 	10,445,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	8,048	8,048	0.00%	
Special Assessments						
Tax Roll	1,760,309	1,760,309	1,780,859	20,550	(1.16)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		5,000		0		(5,000)		100.00%	
Non-Resident Annual Fees	0		0		70		70		0.00%	
Key Fobs	0		0		347		347		0.00%	
Remotes	0		0		2,832		2,832		0.00%	
Rentals	0		0		2,245		2,245		0.00%	
Vending Machine	0		0		87		87		0.00%	
Cell Tower Lease	28,262		14,131		15,802		1,671		44.08%	
Total Revenues	1,798,571		1,779,440		1,810,290		30,850		(0.65)%	

Expenditures
Legislative
Supervisor Fees	16,000	8,000	6,800	1,200	57.50%	
Financial & Administrative						
Administrative Services	5,800	2,900	2,900	0	50.00%	
District Management	32,500	16,250	16,250	0	50.00%	
District Engineer	20,000	10,000	6,560	3,440	67.19%	
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	2,500	2,500	0	49.99%	
Accounting Services	21,000	10,500	10,500	0	50.00%	
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	500	224	276	77.60%	
Miscellaneous Mailings	2,500	1,250	0	1,250	100.00%	
Bank Fees	0	0	74	(74)	0.00%	
Dues, Licenses & Fees	450	450	275	175	38.88%	
Website Maintenance	2,400	1,200	1,200	0	50.00%	
Legal Counsel						
District Counsel	18,000	9,000	7,652	1,348	57.48%	
Law Enforcement						
Contracted Deputy Services	94,000	47,000	49,827	(2,827)	46.99%	
Electric Utility Services						
Utility Services	31,000	15,500	13,989	1,511	54.87%	
Street Lighting	98,000	49,000	49,047	(47)	49.95%	
Garbage/Solid Waste Control						

Garbage - Residential	203,400	101,700	86,328	15,372	57.55%	
Garbage - Recreation Facility	800	400	396	4	50.50%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	
Water-Sewer Combination Services
Utility - Recreation Facilities	3,000	1,500	1,407	93	53.08% Stormwater Control
Mitigation Area Monitoring & Maintenance	4,810	2,405	700	1,705	85.44%	
Aquatic Plant Replacement	7,500	3,750	0	3,750	100.00%	
Aquatic Contract	65,000	32,500	32,298	202	50.31%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	2,500	0	2,500	100.00%	
Other Physical Environment						
Field Operations	15,000	7,500	4,350	3,150	71.00%	
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	325	0	325	100.00%	
Entry & Walls Maintenance	5,000	2,500	250	2,250	95.00%	
Landscape Maintenance	166,000	83,000	105,716	(22,716)	36.31%	
Irrigation Repairs & Maintenance	20,000	10,000	7,344	2,657	63.28%	
Annual Color Rotation	20,000	10,000	0	10,000	100.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	20,000	9,947	10,053	75.13%	
Mulch Installation	38,000	19,000	26,746	(7,746)	29.61%	
Landscape - Fertilizer Applications	30,000	15,000	8,175	6,825	72.75%	
Tree Trimming/Removal Services	10,800	5,400	7,985	(2,585)	26.06%	
Fire Ant Treatment	10,000	5,000	0	5,000	100.00%	
Landscape- Pest Control	5,300	2,650	1,735	915	67.26%	
Well Maintenance	6,000	3,000	0	3,000	100.00%	
Lift Station Maintenance	10,000	5,000	456	4,544	95.44%	
Wildlife Management Services	6,000	3,000	6,000	(3,000)	0.00%	
Miscellaneous Expenses	18,000	9,000	15,405	(6,405)	14.41%	
Road & Street Facilities						
Gate Maintenance	20,000	10,000	27,859	(17,859)	(39.29)%	
Gate Phone	7,500	3,750	4,001	(251)	46.65%	
Sidewalk Repair & Maintenance	10,000	5,000	10,050	(5,050)	(0.50)%	
Street Sign Repairs & Replacement	1,000	500	0	500	100.00%	
Roadway Repair & Maintenance	5,000	2,500	0	2,500	100.00%	
Street Light/Decorative Light Maintenance	2,000	1,000	0	1,000	100.00%	

Parking Lot Repair & Maintenance	5,000	2,500	0	2,500	100.00%	
Parks & Recreation
Management Contract	215,000	107,500	106,896	604	50.28%	
Pool Repairs	5,000	2,500	0	2,500	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	2,500	6,870	(4,370)	(37.40)%	
Facilities - Pest Control	550	275	288	(13)	47.63%	
Facility A/C & Heating Maintenance & Repair	10,000	5,000	0	5,000	100.00%	
Playground Equipment/Maintenance	1,500	750	548	202	63.48%	
Operating Supplies	4,000	2,000	4,968	(2,968)	(24.20)%	
Dog Waste Station Supplies	1,900	950	476	474	74.94%	
Vehicle Maintenance	2,000	1,000	1,111	(111)	44.46%	
Miscellaneous Expenses	5,000	2,500	4,630	(2,130)	7.40%	
Security System Monitoring & Maintenance	2,000	1,000	4,737	(3,737)	(136.84)%	
Clubhouse Internet, Cable, Phone	3,500	1,750	1,005	745	71.28%	
Athletic/Park Court/Field Repairs	1,500	750	5,646	(4,896)	(276.38)%	
Boardwalk & Bridge Maintenance	10,000	5,000	0	5,000	100.00%	
Computer Support/Maintenance/Repairs	1,000	500	0	500	100.00%	
Fitness Equipment Maintenance/Repairs	2,000	1,000	0	1,000	100.00%	
Special Events						
Special Events	7,500	3,750	0	3,750	100.00%	
Street Tree Removal Program						
Tree Purchase	100,000	50,000	82,280	(32,280)	17.72%	
Street Tree Removal	125,734	62,867	76,525	(13,658)	39.13%	
Street Tree Install	138,000	69,000	138,154	(69,154)	(0.11)%	
Contingency						
Capital Outlay	24,000		12,000		0		12,000		100.00%	
Total Expenditures	1,798,571		914,305		995,170		(80,865)		44.67%	

Excess of Revenues Over (Under) Expenditures	
0		
865,135		
815,120		
(50,015)		
0.00%	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
865,135		
815,120		
(50,015)		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,131,588		1,131,588		0.00%	
Fund Balance, End of Period	 	0		 	865,135		 	1,946,708		 	1,081,573		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		228,575		3,417		1.52%	

Expenditures
Contingency
Asset Replacement Reserve	107,597		11,313		96,285		89.48%	
Road Reserves	117,561		4,200		113,361		96.42%	
Total Expenditures	225,158		15,513		209,646		93.11%	

Excess of Revenues Over (Under) Expenditures	
0		
213,063		
213,063		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
213,063		
213,063		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	555,808		 	555,808		 	0.00%	

Tax Roll	587,460		593,542		6,083		1.03%	
Total Revenues	587,460		597,746		10,287		1.75%	

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		
460,671		
460,671		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
460,671		
460,671		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	926,514		 	926,514		 	0.00%	

Tax Roll	353,623		357,284		3,661		1.03%	
Total Revenues	353,623		359,777		6,154		1.74%	

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		
269,009		
269,009		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
269,009		
269,009		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	432,063		 	432,063		 	0.00%	

Meadow Pointe III CDD Investment Summary March 31, 2019

Balance as of
Account	Investment	March 31, 2019

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

$	47,600

Amalgamated Bank	Money Market Account	245,417
BOKF, National Association	Money Market Account	245,178
EagleBank	Money Market Account	17,249
First National Bank of Omaha	Money Market Account	164,894
First Tennessee Bank Natl Assn	Money Market Account	5
Genesee Regional Bank	Money Market Account	245,416
Popular Bank	Money Market Account	85
The Citizens National Bank of Bluffton    Money Market Account	257
The Huntington National Bank	Money Market Account	245,416
The Park National Bank	Money Market Account	245,416
Wintrust Bank	Money Market Account	245,056

Total General Fund Investments    $	1,701,989

The Bank of Tampa ICS Program: Road Reserve
First National Bank of Omaha	Money Market Account		$	13	
NexBank, SSB	Money Market Account		147,070	
		Subtotal	147,083	
Asset Replacement
First National Bank of Omaha	
Money Market Account		
80,500	
NexBank, SSB	Money Market Account		98,317	
Popular Bank	Money Market Account		3	
United Bank	Money Market Account		245,417	
		Subtotal	424,237	

Total Reserve Fund Investments    $	571,320

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	418,170	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	356,669	
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	22,343	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	232,823	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	1,321,604

Total 001 - General Fund

78,005.95

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 3/1/2019 Through 3/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	23,080.49

Total 200 - Debt Service Fund - Series 2013 & 2015

23,080.49

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 3/1/2019 Through 3/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	13,893.35

Total 202 - Debt Service Fund - Series 2007A

13,893.35

Report Balance	114,979.79

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Netix Solutions, LLC		
1/1/2019		
180274		
Community Website 01/19			
200.00	
Netix Solutions, LLC		2/1/2019		180285		Community Website 02/19			200.00	
CINTAS Corporation #074		2/1/2019		4016013960		Supplies 02/19			90.18	
CINTAS Corporation #074		2/15/2019		4016705244		Supplies 02/19			25.00	
Netix Solutions, LLC		3/1/2019		180296		Community Website 03/19			200.00	
Landscape Maintenance Professionals, Inc.		3/5/2019		141858		Remove 8 Dead Pine Trees & 1 Palm Tree 03/19			7,735.00	
DCSI Inc.		3/20/2019		25301		Gate CCTV Warranty/License Plate Camera 03/19			395.88	
Pasco County Utilities		3/20/2019		11702753		1500 Meadow Pointe Blvd 02/19			233.86	
Home Depot Credit		3/21/2019		6035 3225 3190 3767		Supplies 03/19			321.40	
Services				03/19						
Withlacoochee River Electric Cooperative, Inc.		3/22/2019		1353910 03/19		Street Lights 03/19			1,339.31	
Southern Automated Access Services LLC		3/27/2019		5994		Gate Repair - Siren Sensors 03/19			575.00	
Commercial Controls, Inc.		3/28/2019		4398		1 SQ D 200 AMP Main
Breaker Plus Install 03/19			400.00	
Disclosure Services, LLC		3/28/2019		2		Amortization Schedule Series 2013 05/01/19 Prepay			100.00	
Landscape Maintenance Professionals, Inc.		3/29/2019		142522		Flush Cut Dead Pine Tree & Remove Debris 03/19			250.00	
DCSI Inc.		3/29/2019		25352		Access Cards/ 100 26Bit Key Fobs 03/19			525.00	
CINTAS Corporation #074		3/29/2019		4019134478		Supplies 03/19			38.58	
Waste Connections Of Florida		3/31/2019		4061333		Waste Disposal 03/19			14,388.00	

Vendor Name	Date

Invoice/Credit Number	Description

Current

 	 	 	 	

Rizzetta Amenity Services, Inc.
Stantec Consulting Services Inc.

3/31/2019	INV00000000006121	Out Of Pocket
Expenses 03/19
4/3/2019	1494826		Engineering Services 03/19

21.93

680.00

TECO	4/4/2019	311000030198 0319	Summary Bill 03/19	8,736.56

Withlacoochee River Electric Cooperative, Inc.

4/9/2019	Electric Summary 03/19	Electric Summary 03/19	312.06

Total 001 - General Fund

36,767.76

Report Total	36,767.76

Notes to Unaudited Financial Statements March 31, 2019

Balance Sheet

Trust statement activity has been recorded through 03/31/19.
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

General Fund – Payment for Invoice FY18-19 in the amount of $30,974.23 was received in April 2019.
Debt Service Fund 200 – Payment for Invoice FY18-19 in the amount of $9,164.68 was received in April 2019.
Debt Service Fund 202 – Payment for Invoice FY18-19 in the amount of $5,516.71 was received in April 2019.