Meadow Pointe III Community Development District

Financial Statements (Unaudited)

May 31, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 5/31/2019
(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	152,396		0		0		152,396		0		0	
Investments	1,507,366		0		618,319		2,125,684		0		0	
Investments - Reserves	0		573,233		0		573,233		0		0	
Accounts Receivable	34,470		0		16,338		50,808		0		0	
Prepaid Expenses	2,263		0		0		2,263		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	144,610		0		0		144,610		0		0	
Due From Others	134		0		0		134		0		0	
Amount Available in Debt Service	0		0		0		0		0		634,657	
Amount To be Provided Debt Service	0		0		0		0		0		9,310,343	
Fixed Assets	0		0		0		0		11,087,105		0	
Total Assets	 	1,860,379		 	573,233		 	634,657		 	3,068,269		 	11,087,105		 	9,945,000	

Liabilities												
Accounts Payable	132,133		0		0		132,133		0		0	
Sales Tax Payable	311		0		0		311		0		0	
Accrued Expenses Payable	375		0		0		375		0		0	
Other Current Liabilities	0		0		0		0		0		0	
Due to Other Funds	0		144,610		0		144,610		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		9,945,000	
Total Liabilities	132,819		144,610		0		277,428		0		9,945,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,131,588		342,745		628,897		2,103,231		11,087,105		0	
Net Change in Fund Balance	595,972		85,878		5,759		687,610		0		0	
Total Fund Equity & Other Credits	1,727,560		428,623		634,657		2,790,840		11,087,105		0	

Total Liabities & Fund Equity	 	1,860,379	 	573,233	 	634,657	 	3,068,269	 	11,087,105	 	9,945,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	13,425	13,425	0.00%	
Special Assessments						
Tax Roll	1,760,309	1,760,309	1,780,897	20,588	(1.16)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		6,667		0		(6,667)		100.00%	
Non-Resident Annual Fees	0		0		280		280		0.00%	
Key Fobs	0		0		599		599		0.00%	
Remotes	0		0		4,009		4,009		0.00%	
Rentals	0		0		3,842		3,842		0.00%	
Vending Machine	0		0		175		175		0.00%	
Cell Tower Lease	28,262		18,841		21,455		2,613		24.08%	
Total Revenues	1,798,571		1,785,817		1,824,682		38,865		(1.45)%	

Expenditures
Legislative
Supervisor Fees	16,000	10,667	9,800	867	38.75%	
Financial & Administrative						
Administrative Services	5,800	3,867	3,867	0	33.33%	
District Management	32,500	21,667	21,667	0	33.33%	
District Engineer	20,000	13,333	15,982	(2,648)	20.09%	
Disclosure Report	3,100	3,100	3,000	100	3.22%	
Trustees Fees	10,000	10,000	9,841	159	1.58%	
Tax Collector /Property Appraiser Fees	150	150	150	0	0.00%	
Financial & Revenue Collections	5,000	3,333	3,333	0	33.33%	
Accounting Services	21,000	14,000	14,000	0	33.33%	
Auditing Services	3,675	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,950	1,950	1,000	950	48.71%	
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	667	305	362	69.52%	
Miscellaneous Mailings	2,500	1,667	0	1,667	100.00%	
Bank Fees	0	0	127	(127)	0.00%	
Dues, Licenses & Fees	450	450	275	175	38.88%	
Website Maintenance	2,400	1,600	1,600	0	33.33%	
Legal Counsel						
District Counsel	18,000	12,000	13,163	(1,163)	26.87%	
Law Enforcement						
Contracted Deputy Services	94,000	62,667	66,436	(3,769)	29.32%	
Electric Utility Services						
Utility Services	31,000	20,667	18,367	2,300	40.75%	
Street Lighting	98,000	65,333	65,602	(269)	33.05%	

Garbage/Solid Waste Control
Garbage - Residential	203,400	135,600	115,104	20,496	43.41%	
Garbage - Recreation Facility	800	533	528	5	34.00%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	

Utility - Recreation Facilities	3,000	2,000	2,321	(321)	22.64%	
Mitigation Area Monitoring & Maintenance	4,810	3,207	1,045	2,162	78.27%	
Aquatic Plant Replacement	7,500	5,000	0	5,000	100.00%	
Aquatic Contract	65,000	43,333	43,064	269	33.74%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	3,333	0	3,333	100.00%	
Other Physical Environment						
Field Operations	15,000	10,000	5,800	4,200	61.33%	
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	433	0	433	100.00%	
Entry & Walls Maintenance	5,000	3,333	250	3,083	95.00%	
Landscape Maintenance	166,000	110,667	153,795	(43,128)	7.35%	
Irrigation Repairs & Maintenance	20,000	13,333	7,515	5,818	62.42%	
Annual Color Rotation	20,000	13,333	6,400	6,933	68.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	26,667	10,937	15,730	72.65%	
Mulch Installation	38,000	25,333	26,746	(1,413)	29.61%	
Landscape - Fertilizer Applications	30,000	20,000	20,075	(75)	33.08%	
Tree Trimming/Removal Services	10,800	7,200	8,735	(1,535)	19.12%	
Fire Ant Treatment	10,000	6,667	0	6,667	100.00%	
Landscape- Pest Control	5,300	3,533	2,670	863	49.62%	
Well Maintenance	6,000	4,000	0	4,000	100.00%	
Lift Station Maintenance	10,000	6,667	1,073	5,593	89.26%	
Wildlife Management Services	6,000	4,000	7,200	(3,200)	(20.00)%	
Miscellaneous Expenses	18,000	12,000	17,426	(5,426)	3.18%	
Road & Street Facilities						
Gate Maintenance	20,000	13,333	29,556	(16,223)	(47.78)%	
Gate Phone	7,500	5,000	5,342	(342)	28.77%	
Sidewalk Repair & Maintenance	10,000	6,667	10,050	(3,383)	(0.50)%	
Street Sign Repairs & Replacement	1,000	667	0	667	100.00%	
Roadway Repair & Maintenance	5,000	3,333	0	3,333	100.00%	

Water-Sewer Combination Services Stormwater Control

Street Light/Decorative Light Maintenance	2,000	1,333	0	1,333	100.00%	
Parking Lot Repair & Maintenance	5,000	3,333	795	2,538	84.10%	
Parks & Recreation
Management Contract	215,000	143,333	144,008	(675)	33.01%	
Pool Repairs	5,000	3,333	0	3,333	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	3,333	9,160	(5,827)	(83.20)%	
Facilities - Pest Control	550	367	540	(173)	1.81%	
Facility A/C & Heating Maintenance & Repair	10,000	6,667	282	6,385	97.18%	
Playground Equipment/Maintenance	1,500	1,000	1,013	(13)	32.44%	
Operating Supplies	4,000	2,667	6,909	(4,243)	(72.73)%	
Dog Waste Station Supplies	1,900	1,267	476	791	74.94%	
Vehicle Maintenance	2,000	1,333	2,095	(761)	(4.73)%	
Miscellaneous Expenses	5,000	3,333	4,698	(1,365)	6.04%	
Security System Monitoring & Maintenance	2,000	1,333	5,821	(4,488)	(191.07)%	
Clubhouse Internet, Cable, Phone	3,500	2,333	1,277	1,057	63.52%	
Athletic/Park Court/Field Repairs	1,500	1,000	5,275	(4,275)	(251.67)%	
Boardwalk & Bridge Maintenance	10,000	6,667	0	6,667	100.00%	
Computer Support/Maintenance/Repairs	1,000	667	246	421	75.40%	
Fitness Equipment Maintenance/Repairs	2,000	1,333	0	1,333	100.00%	
Special Events						
Special Events	7,500	5,000	985	4,015	86.87%	
Street Tree Removal Program						
Tree Purchase	100,000	66,667	82,280	(15,613)	17.72%	
Street Tree Removal	125,734	83,823	76,525	7,298	39.13%	
Street Tree Install	138,000	92,000	138,154	(46,154)	(0.11)%	
Contingency						
Capital Outlay	24,000		16,000		0		16,000		100.00%	
Total Expenditures	1,798,571		1,210,515		1,229,510		(18,995)		31.64%	

Excess of Revenues Over (Under) Expenditures	
0		
575,302		
595,172		
19,870		
0.00%	

Other Financing Sources (Uses)										
Proceeds from Sale of Assets	0		0		800		800		0.00%	

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
575,302		
595,972		
20,670		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,131,588		1,131,588		0.00%	
Fund Balance, End of Period	 	0		 	575,302		 	1,727,560		 	1,152,258		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		230,488		5,330		2.37%	

Expenditures
Contingency
Asset Replacement Reserve	107,597		11,313		96,285		89.48%	
Road Reserves	117,561		133,297		(15,736)		(13.38)%	
Total Expenditures	225,158		144,610		80,549		35.77%	

Excess of Revenues Over (Under) Expenditures	
0		
85,878		
85,878		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
85,878		
85,878		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	428,623		 	428,623		 	0.00%	

Tax Roll	587,460		593,554		6,094		1.03%	
Total Revenues	587,460		600,065		12,605		2.15%	

Expenditures								
Debt Service								
Interest	282,460		274,150		8,310		2.94%	
Principal	305,000		325,000		(20,000)		(6.55)%	
Total Expenditures	587,460		599,150		(11,690)		(1.99)%	

Excess of Revenues Over (Under) Expenditures	
0		
915		
915		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
915		
915		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	466,758		 	466,758		 	0.00%	

Tax Roll	353,623		357,291		3,668		1.03%	
Total Revenues	353,623		361,382		7,759		2.19%	

Expenditures								
Debt Service								
Interest	178,623		181,538		(2,914)		(1.63)%	
Principal	175,000		175,000		0		0.00%	
Total Expenditures	353,623		356,538		(2,914)		(0.82)%	

Excess of Revenues Over (Under) Expenditures	
0		
4,845		
4,845		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
4,845		
4,845		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	167,899		 	167,899		 	0.00%	

Meadow Pointe III CDD
Investment Summary May 31, 2019

Balance as of
Account	Investment	May 31, 2019

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

$	37,625

BOKF, National Association	Money Market Account	245,417
EagleBank	Money Market Account	245,416
Flushing Bank	Money Market Account	71
Oritani Bank	Money Market Account	245,320
Pinnacle Bank	Money Market Account	242,471
The Huntington National Bank	Money Market Account	245,417
The Park National Bank	Money Market Account	123
United Bank	Money Market Account	89
Western Alliance Bank	Money Market Account	245,417
Total General Fund Investments     $	1,507,366
The Bank of Tampa ICS Program: Road Reserve
Mutual of Omaha Bank	Money Market Account		$	147,576	
		Subtotal	147,576	
Asset Replacement				
Flushing Bank	Money Market Account		245,333	
Mutual of Omaha Bank	Money Market Account		97,840	
Pacific Wesstern Bank	Money Market Account		79,415	
Pinnacle Bank	Money Market Account		2,891	
The Park National Bank	Money Market Account		3	
United Bank	Money Market Account		175	
		Subtotal	425,657	

Total Reserve Fund Investments     $	573,233

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	161,760	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	94,173	
US Bank Series 2013 Reserve	First American Treasury Obligation Fund Class Z	178,437	
US Bank Series 2013 Prepayment	First American Treasury Obligation Fund Class Z	2,820	
US Bank Series 2015A1 Interest	US Bank Money Market 5		
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A2 Interest	US Bank Money Market 5		
US Bank Series 2015A Revenue	US Bank Money Market 5	68,358	
US Bank Series 2015 Cost of Issuance	US Bank Money Market 5		
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments     $	618,319

Total 001 - General Fund

34,469.69

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 5/1/2019 Through 5/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	10,198.94

Total 200 - Debt Service Fund - Series 2013 & 2015

10,198.94

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 5/1/2019 Through 5/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	6,139.26

Total 202 - Debt Service Fund - Series 2007A

6,139.26

Report Balance	50,807.89

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Pye-Barker Fire & Safety, Inc		
5/15/2019		
PSI086441		
Annual Fire Extinguisher Inspections 05/19			
57.00	
Stepp's Towing Service, Inc		5/20/2019		TW-174652		Towing Services Ticket#227321 05/19			75.00	
Stepp's Towing Service, Inc		5/21/2019		TW-174897		Towing Services Ticket#227322 05/19			75.00	
Home Depot Credit		5/21/2019		6035 3225 3190 3767		Supplies 05/19			175.52	
Services				05/19						
Southern Automated Access Services LLC		5/21/2019		6252		Cellular Usage Gate 813-720-3950 05/19			49.95	
Southern Automated Access Services LLC		5/21/2019		6263		Gate Repairs Larkenheath 05/19			103.00	
Southern Automated Access Services LLC		5/21/2019		6267		Gate Repairs Broughton 05/19			95.00	
Withlacoochee River Electric Cooperative, Inc.		5/22/2019		1353910 05/19		Street Lights 05/19			1,342.07	
Landscape Maintenance Professionals, Inc.		5/22/2019		143691		Addendum 3 - Added Trees from Phase 1 05/19			6,360.00	
Landscape Maintenance Professionals, Inc.		5/22/2019		143692		Addendum 4 - Additional Street Trees 05/19			1,125.00	
Stepp's Towing Service, Inc		5/22/2019		TW-175106		Towing Services Ticket#227672 05/19			150.00	
Stepp's Towing Service, Inc		5/22/2019		TW-175200		Towing Services Ticket#228766 05/19			75.00	
Stepp's Towing Service, Inc		5/23/2019		TW-175321		Towing Services Ticket#228842 05/19			112.50	
Stepp's Towing Service, Inc		5/24/2019		TW-175616		Towing Services Ticket#229225 05/19			75.00	
ACPLM Inc.		5/24/2019		1900189		Paving, Milling, Striping on Hillhurst Crossing (60%) 05/19			76,548.20	
ACPLM Inc.		5/24/2019		1900190		Paving, Milling, Striping on Hillhuear Crossing (10%) 05/19			11,637.20	
CINTAS Corporation #074		5/24/2019		4022597160		Supplies 05/19			103.89	

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Southern Automated Access Services LLC		
5/29/2019		
6286		
Gate Repairs Larkenheath 05/19			
190.00	
Southern Automated Access Services LLC		5/29/2019		6287		Gate Repairs Larkenheath 05/19			95.00	
Ameritech Pressure Cleaning Systems, Inc.		5/29/2019		199857		Eqipment Repair: Recoil & Replace Rope 05/19			11.00	
Rizzetta Amenity Services, Inc.		5/31/2019		INV00000000006311		Employee Insurance Reimbursement 05/19			404.11	
Rizzetta Amenity Services, Inc.		5/31/2019		INV00000000006344		Out Of Pocket Expenses 05/19			65.75	
Stirling & Wilbur Engineering Group		5/31/2019		21497		Balance Due - Engineering Services Project Complete 05/19			1,500.00	
Waste Connections Of Florida		5/31/2019		4192338		Waste Disposal 05/19			14,388.00	
Straley Robin Vericker		6/1/2019		17131		General Legal Services 05/19			3,270.00	
Lowe's		6/2/2019		9900 321527 6 05/19		Clubhouse Supplies 05/19			292.26	
TECO		6/5/2019		311000030198 0519		Summary Bill 05/19			8,844.18	
Stantec Consulting Services Inc.		6/5/2019		1519248		Engineering Services 05/19			4,592.44	
Withlacoochee River Electric Cooperative, Inc.		6/10/2019		Electric Summary 05/19		Electric Summary 05/19			321.25	
						
Total 001 - General Fund			
132,133.32	

Report Total									
132,133.32	

Notes to Unaudited Financial Statements May 31, 2019

Balance Sheet

Trust statement activity has been recorded through 05/31/19.
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.