Meadow Pointe III Community Development District

Financial Statements (Unaudited)

November 30, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 11/30/2019 (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	492,586		0		0		492,586		0		0	
Investments	828,096		0		612,174		1,440,270		0		0	
Investments - Reserves	0		466,569		0		466,569		0		0	
Accounts Receivable	1,271,265		225,158		709,285		2,205,708		0		0	
Prepaid Expenses	0		0		0		0		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	34,722		0		45,405		80,127		0		0	
Due From Others	0		0		0		0		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,366,864	
Amount To be Provided Debt Service	0		0		0		0		0		8,578,136	
Fixed Assets	0		0		0		0		11,045,871		0	
Total Assets	 	2,645,811 		 	691,727 		 	1,366,864 		 	4,704,402 		 	11,045,871 		 	9,945,000 	

Liabilities												
Accounts Payable	50,817		0		0		50,817		0		0	
Sales Tax Payable	224		0		0		224		0		0	
Accrued Expenses Payable	30,373		0		0		30,373		0		0	
Other Current Liabilities	300		0		0		300		0		0	
Due to Other Funds	45,405		34,722		0		80,127		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		9,945,000	
Total Liabilities	127,118		34,722		0		161,840		0		9,945,000	

Fund Equity & Other Credits												
Beginning Fund Balance	1,044,010		430,739		638,066		2,112,816		11,045,871		0	
Net Change in Fund Balance	1,474,683		226,266		728,798		2,429,747		0		0	
Total Fund Equity & Other Credits	2,518,693		657,005		1,366,864		4,542,562		11,045,871		0	

Total Liabities & Fund Equity	
 	2,645,811 		
 	691,727 		
 	1,366,864 		
 	4,704,402 		
 	11,045,871 		
 	9,945,000 	

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0		0		1,904		1,904		0.00%	
Special Assessments										
Tax Roll	1,760,309		1,760,309		1,772,837		12,528		(0.71)%	
Other Miscellaneous Revenues										
Non-Resident Annual Fees	200		33		140		107		29.90%	
Key Fobs	600		100		75		(25)		87.53%	
Remotes	4,500		750		785		35		82.55%	
Rentals	4,500		750		495		(255)		88.99%	
Vending Machine	200		33		84		51		57.94%	
Cell Tower Lease	28,262		4,710		5,652		942		80.00%	
Total Revenues	1,798,571		1,766,686		1,781,973		15,287		0.92%	

Expenditures
Legislative
Supervisor Fees	16,000	2,667	2,000	667	87.50%	
Financial & Administrative						
Administrative Services	5,800	967	967	0	83.33%	
District Management	32,500	5,417	5,417	0	83.33%	
District Engineer	20,000	3,333	2,221	1,113	88.89%	
Disclosure Report	3,100	0	0	0	100.00%	
Trustees Fees	10,000	8,700	8,647	53	13.53%	
Tax Collector /Property Appraiser Fees	150	0	0	0	100.00%	
Financial & Revenue Collections	5,000	833	833	0	83.33%	
Accounting Services	21,000	3,500	3,500	0	83.33%	
Auditing Services	3,675	3,675	0	3,675	100.00%	
Arbitrage Rebate Calculation	1,950	975	0	975	100.00%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Public Officials Liability Insurance	3,675	3,675	2,819	856	23.29%	
Legal Advertising	1,000	167	76	91	92.40%	
Miscellaneous Mailings	2,500	417	0	417	100.00%	
Bank Fees	0	0	31	(31)	0.00%	
Dues, Licenses & Fees	450	175	175	0	61.11%	
Website Hosting, Maintenance, Backup	5,000	833	400	433	92.00%	
Legal Counsel						
District Counsel	18,000	3,000	3,360	(360)	81.33%	
Law Enforcement						
Contracted Deputy Services	99,654	16,609	17,465	(856)	82.47%	
Electric Utility Services						
Utility Services	31,000	5,167	4,353	813	85.95%	
Street Lights	98,000	16,333	16,557	(224)	83.10%	

Garbage/Solid Waste Control Services

Garbage - Residential	192,246	32,041	29,317	2,724	84.75%	
Garbage - Recreation Facility	800	133	132	1	83.50%	
Solid Waste Assessment Recreational Facility	1,000	1,000	1,035	(35)	(3.49)%	
Water-Sewer Combination Services
Utility Services - Recreation
Facilities	3,000	500	846	(346)	71.80%	
Stormwater Control
Mitigation Area Monitoring & Maintenance	
4,810	
802	
345	
457	
92.82%	
Aquatic Plant Replacement	7,500	1,250	0	1,250	100.00%	
Aquatic Maintenance Contract	66,480	11,080	10,766	314	83.80%	
Stormwater Assessment	3,800	3,800	3,767	33	0.87%	
Stormwater System Maintenance	5,000	833	0	833	100.00%	
Other Physical Environment						
Field Services	16,500	2,750	8,950	(6,200)	45.75%	
Property Insurance	6,135	6,135	6,790	(655)	(10.67)%	
General Liability Insurance	2,888	2,888	3,075	(187)	(6.47)%	
Flood Insurance	2,175	2,175	2,781	(606)	(27.86)%	
Street Light Deposit Bond	650	650	189	461	70.97%	
Entry & Walls Maintenance	5,000	833	0	833	100.00%	
Landscape Maintenance	212,508	35,418	37,142	(1,724)	82.52%	
Irrigation Repair & Maintenance	20,000	3,333	695	2,638	96.52%	
Annual Color Rotation	20,000	3,333	6,400	(3,067)	68.00%	
Holiday Decorations	0	0	646	(646)	0.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	6,667	0	6,667	100.00%	
Landscape - Mulch	38,000	6,333	0	6,333	100.00%	
Landscape - Fertilizer Applications	30,000	5,000	8,300	(3,300)	72.33%	
Tree Trimming/Removal Services	10,800	1,800	0	1,800	100.00%	
Fire Ant Treatment	10,000	1,667	0	1,667	100.00%	
Landscape - Pest Control	5,300	883	860	23	83.77%	
Well Maintenance	6,000	1,000	0	1,000	100.00%	
Lift Station Maintenance	10,000	1,667	157	1,509	98.42%	
Wildlife Management Services	6,000	1,000	0	1,000	100.00%	
Miscellaneous Expenses	18,000	3,000	0	3,000	100.00%	
Road & Street Facilities						
Gate Maintenance	35,000	5,833	5,970	(136)	82.94%	
Gate Phone	7,500	1,250	1,424	(174)	81.01%	
Sidewalk Repair & Maintenance	15,000	2,500	0	2,500	100.00%	

Street Sign Repair & Replacement	1,000	167	0	167	100.00%	
Roadway Repair & Maintenance	5,000	833	0	833	100.00%	
Street Light/Decorative Light Maintenance	2,000	333	0	333	100.00%	
Parking Lot Repair & Maintenance	5,000	833	0	833	100.00%	
Parks & Recreation						
Management Contract	221,000	36,833	29,612	7,221	86.60%	
Pool Repairs	5,000	833	0	833	100.00%	
Pool/Water Park/Fountain Maintenance	13,740	2,290	2,290	0	83.33%	
Facilities - Pest Control	550	92	102	(10)	81.45%	
Facility A/C & Heating Maintenance & Repair	10,000	1,667	0	1,667	100.00%	
Playground Equipment & Maintenance	1,500	250	0	250	100.00%	
Operating Supplies	7,500	1,250	3,166	(1,916)	57.79%	
Dog Waste Station Supplies	1,900	317	248	69	86.94%	
Vehicle Maintenance	2,000	333	328	6	83.60%	
Miscellaneous Expenses	5,000	833	256	577	94.88%	
Security System Monitoring & Maintenance	5,000	833	970	(136)	80.60%	
Clubhouse Internet, Cable, Phone	3,500	583	283	301	91.92%	
Athletic/Park Court/Field Repairs	5,000	833	478	355	90.44%	
Boardwalk & Bridge Maintenance	10,000	1,667	0	1,667	100.00%	
Computer Support Maintenance & Repair	1,000	167	0	167	100.00%	
Fitness Equipment Maintenance & Repair	2,000	333	137	196	93.15%	
Special Events						
Special Events	10,000	1,667	1,615	52	83.85%	
Street Tree Removal Program						
Tree Purchase	125,000	20,833	29,550	(8,717)	76.36%	
Street Tree Removal	150,000	25,000	32,225	(7,225)	78.51%	
Street Tree Install	223,000	37,167	2,625	34,542	98.82%	
Contingency						
Capital Outlay	24,000		4,000		0		4,000		100.00%	
Total Expenditures	2,025,236		368,946		307,290		61,656		84.83%	

Excess of Revenues Over (Under) Expenditures	
(226,665)		
1,397,740		
1,474,683		
76,943		
750.60%	

Other Financing Sources (Uses)										

	Budget		YTD Budget		YTD Actual		YTD Variance		Remaining	

Carryforward Fund Balance	
226,665		
0		
0		
0		
100.00%	
Exc. of Rev./Other Sources Over (Under) Expend./Other Uses	0		1,397,740		1,474,683		76,943		0.00%	

Fund Balance, Beginning of Period										
	0		0		1,044,010		1,044,010		0.00%	
Fund Balance, End of Period	 	0 		 	1,397,740 		 	2,518,693 		 	1,120,953 		 	0.00%	

Reserve Fund
From 10/1/2019 Through 11/30/2019
(In Whole Numbers)

Current Period
Annual Budget	Actual

Budget to Actual Variance

Budget Percentage Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		1,108		1,108		0.00%	
Special Assessments								
Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		226,266		1,108		0.49%	

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		
226,266		
226,266		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
226,266		
226,266		
0.00%	

Fund Balance, Beginning of Period								
	0		430,739		430,739		0.00%	
Fund Balance, End of Period	 	0 		 	657,005 		 	657,005 		 	0.00%	

Tax Roll	587,460		591,168		3,708		0.63%	
Total Revenues	587,460		592,092		4,632		0.79%	

Expenditures								
Debt Service								
Interest	277,460		132,619		144,841		52.20%	
Principal	310,000		0		310,000		100.00%	
Total Expenditures	587,460		132,619		454,841		77.43%	

Excess of Revenues Over (Under) Expenditures	
0		
459,473		
459,473		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
459,473		
459,473		
0.00%	

Fund Balance, Beginning of Period								
	0		468,961		468,961		0.00%	
Fund Balance, End of Period	 	0 		 	928,435 		 	928,435 		 	0.00%	

Tax Roll	353,623		355,855		2,232		0.63%	
Total Revenues	353,623		356,374		2,751		0.78%	

Expenditures								
Debt Service								
Interest	173,623		87,050		86,573		49.86%	
Principal	180,000		0		180,000		100.00%	
Total Expenditures	353,623		87,050		266,573		75.38%	

Excess of Revenues Over (Under) Expenditures	
0		
269,324		
269,324		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
269,324		
269,324		
0.00%	

Fund Balance, Beginning of Period								
	0		169,105		169,105		0.00%	
Fund Balance, End of Period	 	0 		 	438,429 		 	438,429 		 	0.00%	

Meadow Pointe III CDD Investment Summary November 30, 2019

Balance as of
Account	Investment	November 30, 2019

The Bank of Tampa	Money Market Account	$	29,004	
The Bank of Tampa ICS Program:				
BOKF, National Association	Money Market Account		63,303	
City National Bank of Florida	Money Market Account		245,262	
Flushing Bank	Money Market Account		245,262	
Fulton Bank, N.A.	Money Market Account		3	
The Huntington National Bank	Money Market Account		245,262	

Total General Fund Investments    $	828,096 

The Bank of Tampa ICS Program:
Road Reserve
Mutual of Omaha Bank	Money Market Account

$	48,538

Subtotal	48,538

Asset Replacement
BOKF, National Association	Money Market Account		181,932	
Fulton Bank, N.A.	Money Market Account		39,375	
Mutual of Omaha Bank	Money Market Account		196,724	
		Subtotal	418,031	

Total Reserve Fund Investments    $	466,569 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	154,845	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z		75,442	
US Bank Series 2013 Reserve	First American Treasury Obligation Fund Class Z		177,559	
US Bank Series 2013 Prepayment	First American Treasury Obligation Fund Class Z		26,508	
US Bank Series 2015A1 Reserve	US Bank Money Market 5		94,180	
US Bank Series 2015A2 Reserve	US Bank Money Market 5		18,591	
US Bank Series 2015A Revenue	US Bank Money Market 5		65,049	

Total Debt Service Fund Investments    $	612,174 

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2019	Pasco County Tax Collector	FY19-20	1,271,265.00

Total 001 - General Fund

1,271,265.00

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2019	Pasco County Tax Collector	FY19-20	225,158.00

Total 005 - Reserve Fund

225,158.00

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 11/1/2019 Through 11/30/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2019	Pasco County Tax Collector	FY19-20	442,762.50

Total 200 - Debt Service Fund - Series 2013 & 2015

442,762.50

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 11/1/2019 Through 11/30/2019

Invoice Date	Customer Name		Invoice Number		Current Balance	

10/1/2019	
Pasco County Tax Collector		
FY19-20		
266,522.12	
	
Total 202 - Debt Service Fund - Series 2007A				
266,522.12	

Report Balance					
2,205,707.62	

Invoice/Credit
Vendor Name	Date

Invoice/Credit Invoice/Credit Number	Description

Current

 	 	 	 	

CINTAS Corporation	9/13/2019	74030187444	Supplies 09/19	98.60	
#074					
Times Publishing Company	11/8/2019	0000029116 11/08/19	Account #119369 Legal Advertising 11/19	76.00	
Withlacoochee River Electric Cooperative, Inc.	11/8/2019	Electric Summary 10/19	Electric Summary 10/19	301.50	
Frontier	11/10/2019	813 907 9657 11/19	Account	69.81	
Communications of			813-907-9657-070613...		
Florida			11/19		
Bright House Networks	11/12/2019	0034120094-01 11/19	Service at 1500 Meadow Pointe Blvd 11/19	46.88	
DCSI Inc.	11/13/2019	26396	Clubhouse Camera Warranty 11/19	88.89	
Rizzetta Amenity Services, Inc.	11/15/2019	INV00000000006858	Amenity Management Services 11/19	9,194.00	
Pasco County Utilities	11/19/2019	12724243	1500 Meadow Pointe Blvd 10/19	385.13	
Paul Carlucci	11/20/2019	PC112019	Board of Supervisors Meeting 11/20/19	200.00	
John A. Johnson	11/20/2019	JJ112019	Board of Supervisors Meeting 11/20/19	200.00	
Marshall Tree Farm	11/20/2019	29860	Eagleston Holly 11/19	8,350.00	
DCSI Inc.	11/20/2019	26411	Gate CCTV Warranty/License Plate Camera 11/19	395.88	
Glen Richard Aleo	11/20/2019	GA112019	Board of Supervisors Meeting 11/20/19	200.00	
Arthur R Daddio	11/20/2019	RD112019	Board of Supervisors Meeting 11/20/19	200.00	
Southern Automated Access Services LLC	11/20/2019	7114	Cellular Usage Gate 813-482-2049 11/19	69.95	
Michael J Hall	11/20/2019	MH112019	Board of Supervisors Meeting 11/20/19	200.00	
Withlacoochee River Electric Cooperative, Inc.	11/21/2019	1353910 11/19	Street Lights 11/19	1,342.07	
Southern Automated Access Services LLC	11/22/2019	7134	Pull New Wire Maglock 11/19	110.00	

Vendor Name		Invoice/Credit Date		
Invoice/Credit Number		Invoice/Credit Description		
Current	

Southern Automated Access Services LLC		
11/22/2019		
7135		
Reconnected Maglock 11/19		
95.00	
CINTAS Corporation #074		11/22/2019		4035767974		Supplies 11/19		25.34	
Marshall Tree Farm		11/25/2019		29882		Muskogee Crape 11/19		6,300.00	
Landscape Maintenance Professionals, Inc.		11/25/2019		148591		Install Fall Annuals 11/19		6,400.00	
Stantec Consulting Services Inc.		11/25/2019		1591890		Engineering Services 11/19		1,050.00	
Straley Robin Vericker		11/25/2019		17753		General Legal Services 10/19		1,780.00	
Southern Automated Access Services LLC		11/26/2019		7138		Need New 1835 Chip 11/19		95.00	
Marshall Tree Farm		11/26/2019		29895		Natchez Crape 11/19		2,675.00	
Commercial Controls, Inc.		11/28/2019		4491		LED Clubhouse Fixtures 11/19		478.00	
Rizzetta Amenity Services, Inc.		11/29/2019		INV00000000006888		Amenity Management Services 11/19		5,839.10	
Home Depot Credit Services		12/3/2019		xxxx xxxx xxxx 3880 10/19		Supplies 10/19		1,470.07	
Southern Automated Access Services LLC		12/3/2019		7157		Replaced Tele Entry Unit 11/19		3,080.50	
						
Total 001 - General Fund		
50,816.72	

Report Total								
50,816.72	

Notes to Unaudited Financial Statements November 30, 2019

Balance Sheet

Trust statement activity has been recorded through 11/30/19.
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 FY19-20 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 FY19-20 in the amount of $1,027,179.50 was received in December 2019.
Reserve Fund – Payment for Invoice FY19-20 in the amount of $225,158.00 was received in December 2019
Debt Service Fund 200 – Payment for Invoice FY19-20 in the amount of $370,542.34 was received in December 2019.
Debt Service Fund 202 – Payment for Invoice FY19-20 in the amount of $223,049.00 was received in December 2019.