Meadow Pointe III Community Development District

Financial Statements (Unaudited)

July 31, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 7/31/2019
(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	18,490		0		0		18,490		0		0	
Investments	1,311,777		0		633,078		1,944,855		0		0	
Investments - Reserves	0		575,152		0		575,152		0		0	
Accounts Receivable	6,980		0		3,308		10,288		0		0	
Prepaid Expenses	4,687		0		0		4,687		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	144,610		0		6		144,615		0		0	
Due From Others	134		0		0		134		0		0	
Amount Available in Debt Service	0		0		0		0		0		636,392	
Amount To be Provided Debt Service	0		0		0		0		0		9,308,608	
Fixed Assets	0		0		0		0		11,045,871		0	
Total Assets	 	1,505,820		 	575,152		 	636,392		 	2,717,364		 	11,045,871		 	9,945,000	

Liabilities												
Accounts Payable	49,806		0		0		49,806		0		0	
Sales Tax Payable	348		0		0		348		0		0	
Accrued Expenses Payable	2,647		0		0		2,647		0		0	
Other Current Liabilities	400		0		0		400		0		0	
Due to Other Funds	6		144,610		0		144,615		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		9,945,000	
Total Liabilities	53,206		144,610		0		197,816		0		9,945,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,131,588		342,745		628,897		2,103,231		11,045,871		0	
Net Change in Fund Balance	321,026		87,797		7,494		416,318		0		0	
Total Fund Equity & Other Credits	1,452,614		430,542		636,392		2,519,548		11,045,871		0	

Total Liabities & Fund Equity	 	1,505,820	 	575,152	 	636,392	 	2,717,364	 	11,045,871	 	9,945,000

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	17,836	17,836	0.00%	
Special Assessments						
Tax Roll	1,760,309	1,760,309	1,780,910	20,601	(1.17)%	
Other Miscellaneous Revenues						
Miscellaneous	10,000		8,333		0		(8,333)		100.00%	
Non-Resident Annual Fees	0		0		841		841		0.00%	
Key Fobs	0		0		936		936		0.00%	
Remotes	0		0		5,299		5,299		0.00%	
Rentals	0		0		5,328		5,328		0.00%	
Vending Machine	0		0		255		255		0.00%	
Recording Fees	0		0		95		95		0.00%	
Cell Tower Lease	28,262		23,552		27,107		3,555		4.08%	
Total Revenues	1,798,571		1,792,194		1,838,606		46,412		(2.23)%	

Expenditures
Legislative
Supervisor Fees	16,000	13,333	11,800	1,533	26.25%	
Financial & Administrative						
Administrative Services	5,800	4,833	4,833	0	16.66%	
District Management	32,500	27,083	27,083	0	16.66%	
District Engineer	20,000	16,667	18,395	(1,728)	8.02%	
Disclosure Report	3,100	3,100	3,000	100	3.22%	
Trustees Fees	10,000	10,000	10,649	(649)	(6.49)%	
Tax Collector /Property Appraiser Fees	150	150	150	0	0.00%	
Financial & Revenue Collections	5,000	4,167	4,167	0	16.66%	
Accounting Services	21,000	17,500	17,500	0	16.66%	
Auditing Services	3,675	3,675	3,675	0	0.00%	
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	833	1,113	(280)	(11.32)%	
Miscellaneous Mailings	2,500	2,083	0	2,083	100.00%	
Bank Fees	0	0	212	(212)	0.00%	
Dues, Licenses & Fees	450	450	700	(250)	(55.55)%	
Website Maintenance	2,400	2,000	2,000	0	16.66%	
Legal Counsel						
District Counsel	18,000	15,000	17,318	(2,318)	3.78%	
Law Enforcement						
Contracted Deputy Services	94,000	78,333	83,045	(4,712)	11.65%	
Electric Utility Services						
Utility Services	31,000	25,833	22,827	3,007	26.36%	

Street Lighting	98,000	81,667	82,159	(493)	16.16%	
Garbage - Residential	203,400	169,500	143,880	25,620	29.26%	
Garbage - Recreation Facility	800	667	660	7	17.50%	
Solid Waste Assessment Recreational Facility	1,000	1,000	934	66	6.57%	
Water-Sewer Combination Services						
Utility - Recreation Facilities	3,000	2,500	3,237	(737)	(7.89)%	
Stormwater Control						
Mitigation Area Monitoring & Maintenance	4,810	4,008	1,255	2,753	73.90%	
Aquatic Plant Replacement	7,500	6,250	0	6,250	100.00%	
Aquatic Contract	65,000	54,167	53,830	337	17.18%	
Pasco County Stormwater Assessment	3,800	3,800	3,773	27	0.72%	
Stormwater System Maintenance	5,000	4,167	0	4,167	100.00%	
Other Physical Environment						
Field Operations	15,000	12,500	7,250	5,250	51.66%	
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	542	0	542	100.00%	
Entry & Walls Maintenance	5,000	4,167	250	3,917	95.00%	
Landscape Maintenance	166,000	138,333	198,118	(59,785)	(19.34)%	
Irrigation Repairs & Maintenance	20,000	16,667	8,713	7,954	56.43%	
Annual Color Rotation	20,000	16,667	6,400	10,267	68.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	33,333	24,881	8,453	37.79%	
Mulch Installation	38,000	31,667	26,746	4,921	29.61%	
Landscape - Fertilizer Applications	30,000	25,000	27,325	(2,325)	8.91%	
Tree Trimming/Removal Services	10,800	9,000	9,035	(35)	16.34%	
Fire Ant Treatment	10,000	8,333	0	8,333	100.00%	
Landscape- Pest Control	5,300	4,417	3,980	437	24.90%	
Well Maintenance	6,000	5,000	0	5,000	100.00%	
Lift Station Maintenance	10,000	8,333	1,231	7,102	87.69%	
Wildlife Management Services	6,000	5,000	7,200	(2,200)	(20.00)%	
Miscellaneous Expenses	18,000	15,000	23,701	(8,701)	(31.67)%	
Road & Street Facilities						
Gate Maintenance	20,000	16,667	34,836	(18,169)	(74.18)%	
Gate Phone	7,500	6,250	6,708	(458)	10.55%	
Sidewalk Repair & Maintenance	10,000	8,333	20,900	(12,567)	(109.00)%	
Street Sign Repairs & Replacement	1,000	833	0	833	100.00%	

Garbage/Solid Waste Control

Roadway Repair & Maintenance	5,000	4,167	0	4,167	100.00%	
Street Light/Decorative Light Maintenance	2,000	1,667	200	1,466	89.97%	
Parking Lot Repair & Maintenance	5,000	4,167	795	3,372	84.10%	
Parks & Recreation
Management Contract	215,000	179,167	180,538	(1,371)	16.02%	
Pool Repairs	5,000	4,167	0	4,167	100.00%	
Pool/Water Park/Fountain Maintenance	5,000	4,167	11,450	(7,283)	(129.00)%	
Facilities - Pest Control	550	458	642	(184)	(16.72)%	
Facility A/C & Heating Maintenance & Repair	10,000	8,333	564	7,769	94.36%	
Playground Equipment/Maintenance	1,500	1,250	1,013	237	32.44%	
Operating Supplies	4,000	3,333	8,489	(5,156)	(112.22)%	
Dog Waste Station Supplies	1,900	1,583	724	859	61.89%	
Vehicle Maintenance	2,000	1,667	2,499	(832)	(24.93)%	
Miscellaneous Expenses	5,000	4,167	4,983	(816)	0.34%	
Security System Monitoring & Maintenance	2,000	1,667	8,609	(6,942)	(330.45)%	
Clubhouse Internet, Cable, Phone	3,500	2,917	1,593	1,324	54.49%	
Athletic/Park Court/Field Repairs	1,500	1,250	5,370	(4,120)	(258.00)%	
Boardwalk & Bridge Maintenance	10,000	8,333	0	8,333	100.00%	
Computer Support/Maintenance/Repairs	1,000	833	497	336	50.30%	
Fitness Equipment Maintenance/Repairs	2,000	1,667	326	1,341	83.70%	
Special Events						
Special Events	7,500	6,250	1,717	4,533	77.10%	
Street Tree Removal Program						
Tree Purchase	100,000	83,333	82,280	1,053	17.72%	
Street Tree Removal	125,734	104,778	115,350	(10,572)	8.25%	
Street Tree Install	138,000	115,000	144,154	(29,154)	(4.45)%	
Contingency						
Capital Outlay	24,000		20,000		0		20,000		100.00%	
Total Expenditures	1,798,571		1,506,380		1,518,380		(12,000)		15.58%	

Excess of Revenues Over (Under) Expenditures	
0		
285,814		
320,226		
34,412		
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		
285,814		
321,026		
35,212		
0.00%	

Fund Balance, Beginning of Period										
	0		0		1,131,588		1,131,588		0.00%	
Fund Balance, End of Period	 	0		 	285,814		 	1,452,614		 	1,166,800		 	0.00%	

Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		232,407		7,249		3.22%	

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		
87,797		
87,797		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
87,797		
87,797		
0.00%	

Fund Balance, Beginning of Period								
	0		342,745		342,745		0.00%	
Fund Balance, End of Period	 	0		 	430,542		 	430,542		 	0.00%	

Tax Roll	587,460		593,557		6,097		1.03%	
Total Revenues	587,460		601,192		13,733		2.34%	

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		
2,042		
2,042		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
2,042		
2,042		
0.00%	

Fund Balance, Beginning of Period								
	0		465,843		465,843		0.00%	
Fund Balance, End of Period	 	0		 	467,885		 	467,885		 	0.00%	

Tax Roll	353,623		357,293		3,670		1.03%	
Total Revenues	353,623		361,990		8,367		2.37%	

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		
5,452		
5,452		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
5,452		
5,452		
0.00%	

Fund Balance, Beginning of Period								
	0		163,055		163,055		0.00%	
Fund Balance, End of Period	 	0		 	168,507		 	168,507		 	0.00%	

Meadow Pointe III CDD
Investment Summary July 31, 2019

Balance as of
Account	Investment	July 31, 2019

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

$	237,665

BOKF, National Association	Money Market Account	245,264
Bremer Bank, National Association	Money Market Account	131
First National Bank of Omaha	Money Market Account	47,197
Fulton Bank, N.A.	Money Market Account	45,002
Pinnacle Bank	Money Market Account	245,410
Stifel Bank and Trust	Money Market Account	82
The Huntington National Bank	Money Market Account	245,417
The Park National Bank	Money Market Account	193
Western Alliance Bank	Money Market Account	245,416

Total General Fund Investments    $	1,311,777

The Bank of Tampa ICS Program:
Road Reserve
BOKF, National Association	Money Market Account		$	71	
Bremer Bank, National Association	Money Market Account		51	
First National Bank of Omaha	Money Market Account		113,901	
Fulton Bank, N.A.	Money Market Account		33,981	
NexBank, SSB	Money Market Account		15	
Stifel Bank and Trust	Money Market Account		9	
The Park National Bank	Money Market Account		42	
		Subtotal	148,070	

Asset Replacement
BOKF, National Association	Money Market Account	37
Bremer Bank, National Association	Money Market Account	5
First National Bank of Omaha	Money Market Account	84,299
Fulton Bank, N.A.	Money Market Account	97,233
NexBank, SSB	Money Market Account	5
Stifel Bank and Trust	Money Market Account	11
The Park National Bank	Money Market Account	75
United Bank	Money Market Account		245,417 Subtotal	427,082

Total Reserve Fund Investments    $	575,152

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	167,261	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z	100,234	
US Bank Series 2013 Reserve	First American Treasury Obligation Fund Class Z	178,438	
US Bank Series 2013 Prepayment	First American Treasury Obligation Fund Class Z	2,830	
US Bank Series 2015A1 Reserve	US Bank Money Market 5	94,180	
US Bank Series 2015A Revenue	US Bank Money Market 5	71,544	
US Bank Series 2015A2 Reserve	US Bank Money Market 5	18,591	

Total Debt Service Fund Investments    $	633,078 

Total 001 - General Fund

6,979.96

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 7/1/2019 Through 7/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	2,065.25

Total 200 - Debt Service Fund - Series 2013 & 2015

2,065.25

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 7/1/2019 Through 7/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Pasco County Tax Collector	FY18-19	1,243.16

Total 202 - Debt Service Fund - Series 2007A

1,243.16

Report Balance	10,288.37

Vendor Name		Date		Invoice/Credit Number		Description		Current		

Landscape Maintenance Professionals, Inc.		
7/12/2019		
145125		
Enhancement Ammaford Enterance 07/19			
6,084.15	
DCSI Inc.		7/13/2019		25854		Clubhouse CCTV Warranty Camera 07/19			88.89	
Landscape Maintenance Professionals, Inc.		7/18/2019		145269		Install Gold Mound Shermingham 07/19			522.50	
Landscape Maintenance Professionals, Inc.		7/18/2019		145270		Install Allamanda Withlock Entrance 07/19			96.25	
Landscape Maintenance Professionals, Inc.		7/18/2019		145271		Install Gold Mound Whitlock Entrance 07/19			275.00	
DCSI Inc.		7/20/2019		25860		Clubhouse Camera Warranty 07/19			395.88	
Ecological Consultants, Inc.		7/23/2019		11590		SWFWMD Permit#43021274.0110
Heidt Portion 07/19			210.00	
Withlacoochee River Electric Cooperative, Inc.		7/23/2019		1353910 07/19		Street Lights 07/19			1,342.07	
DCSI Inc.		7/24/2019		25909		Repair Access System 07/19			210.00	
US Bank		7/25/2019		5436639		Trustee Fee Series 2015 07/01/19- 06/30/20			3,232.50	
Aventura Nursery & Landscape, Inc.		7/26/2019		39500		Gator Bag 07/19			6,000.00	
Times Publishing Company		7/26/2019		802182 07/26/19		Account #119369 Legal Advertising 07/19			808.46	
DCSI Inc.		7/26/2019		25923		Replace Access Control Reader 07/19			904.00	
Rizzetta Amenity Services, Inc.		7/26/2019		INV00000000006501		Employee Insurance Reimbursement 07/19			404.11	
Southern Automated Access Services LLC		7/26/2019		6589		Gate Repair 07/19			95.00	
Landscape Maintenance Professionals, Inc.		7/26/2019		145357		Removed Pear Tree 07/19			300.00	
Landscape Maintenance Professionals, Inc.		7/30/2019		145588		Enhance Ammaford Median 07/19			1,663.73	
Landscape Maintenance Professionals, Inc.		7/30/2019		145642		Irrigation Repair 07/19			407.66	

Vendor Name	Date

Invoice/Credit Number	Description

Current

 	 	 	 	

Landscape Maintenance Professionals, Inc.

7/31/2019	145806	Pest Control 07/19	430.00

Straley Robin Vericker	7/31/2019	17340	General Legal Services 06/19

2,905.00

Waste Connections Of Florida

7/31/2019	4257211	Waste Disposal 07/19	14,388.00

TECO	8/5/2019	311000030198 0719	Summary Bill 07/19	9,042.38

Total 001 - General Fund

49,805.58

Report Total	49,805.58

Notes to Unaudited Financial Statements July 31, 2019

Balance Sheet

Trust statement activity has been recorded through 07/31/19.
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.