Meadow Pointe III Community Development District

Financial Statements (Unaudited)

December 31, 2019

Prepared by: Rizzetta & Company, Inc.

meadowpointe3.org rizzetta.com

Meadow Pointe III Community Development District
Balance Sheet As of 12/31/2019 (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	1,290,559		0		0		1,290,559		0		0	
Investments	818,709		0		1,251,581		2,070,290		0		0	
Investments - Reserves	0		692,363		0		692,363		0		0	
Accounts Receivable	155,225		0		73,574		228,799		0		0	
Prepaid Expenses	0		0		0		0		0		0	
Deposits	19,142		0		0		19,142		0		0	
Due From Other Funds	36,222		0		42,119		78,341		0		0	
Due From Others	0		0		0		0		0		0	
Amount Available in Debt Service	0		0		0		0		0		1,367,274	
Amount To be Provided Debt Service	0		0		0		0		0		8,577,726	
Fixed Assets	0		0		0		0		11,045,871		0	
Total Assets	 	2,319,857 		 	692,363 		 	1,367,274 		 	4,379,493 		 	11,045,871 		 	9,945,000 	

Liabilities												
Accounts Payable	43,125		0		0		43,125		0		0	
Sales Tax Payable	226		0		0		226		0		0	
Accrued Expenses Payable	17,134		0		0		17,134		0		0	
Other Current Liabilities	0		0		0		0		0		0	
Due to Other Funds	42,119		36,222		0		78,341		0		0	
Revenue Bonds Payable-Long-Term	0		0		0		0		0		9,945,000	
Total Liabilities	102,604		36,222		0		138,826		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	1,173,242		225,402		729,208		2,127,852		0		0	
Total Fund Equity & Other Credits	2,217,253		656,141		1,367,274		4,240,667		11,045,871		0	

Total Liabities & Fund Equity	
 	2,319,857 		
 	692,363 		
 	1,367,274 		
 	4,379,493 		
 	11,045,871 		
 	9,945,000 	

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0		0		2,675		2,675		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		50		140		90		29.90%	
Key Fobs	600		150		112		(38)		81.30%	
Remotes	4,500		1,125		1,150		25		74.45%	
Rentals	4,500		1,125		495		(630)		88.99%	
Vending Machine	200		50		84		34		57.94%	
Cell Tower Lease	28,262		7,066		8,479		1,413		70.00%	
Total Revenues	1,798,571		1,769,875		1,785,972		16,097		0.70%	

Expenditures
Legislative
Supervisor Fees	16,000	4,000	2,800	1,200	82.50%	
Financial & Administrative						
Administrative Services	5,800	1,450	1,450	0	75.00%	
District Management	32,500	8,125	8,125	0	75.00%	
District Engineer	20,000	5,000	4,226	774	78.86%	
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	1,250	1,250	0	74.99%	
Accounting Services	21,000	5,250	5,250	0	75.00%	
Auditing Services	3,675	3,675	0	3,675	100.00%	
Arbitrage Rebate Calculation	1,950	975	500	475	74.35%	
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	250	76	174	92.40%	
Miscellaneous Mailings	2,500	625	0	625	100.00%	
Bank Fees	0	0	35	(35)	0.00%	
Dues, Licenses & Fees	450	175	175	0	61.11%	
Website Hosting, Maintenance, Backup	5,000	1,250	600	650	88.00%	
Legal Counsel						
District Counsel	18,000	4,500	5,160	(660)	71.33%	
Law Enforcement						
Contracted Deputy Services	99,654	24,914	26,197	(1,283)	73.71%	
Electric Utility Services						
Utility Services	31,000	7,750	6,485	1,265	79.07%	
Street Lights	98,000	24,500	24,304	196	75.20%	

Garbage/Solid Waste Control Services

Garbage - Residential	192,246	48,062	45,293	2,769	76.44%	
Garbage - Recreation Facility	800	200	198	2	75.25%	
Solid Waste Assessment Recreational Facility	1,000	1,000	1,035	(35)	(3.49)%	
Water-Sewer Combination Services
Utility Services - Recreation
Facilities	3,000	750	1,351	(601)	54.96%	
Stormwater Control
Mitigation Area Monitoring & Maintenance	
4,810	
1,202	
345	
857	
92.82%	
Aquatic Plant Replacement	7,500	1,875	0	1,875	100.00%	
Aquatic Maintenance Contract	66,480	16,620	16,149	471	75.70%	
Stormwater Assessment	3,800	3,800	3,767	33	0.87%	
Stormwater System Maintenance	5,000	1,250	0	1,250	100.00%	
Other Physical Environment						
Field Services	16,500	4,125	8,950	(4,825)	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	1,250	660	590	86.80%	
Landscape Maintenance	212,508	53,127	55,176	(2,049)	74.03%	
Irrigation Repair & Maintenance	20,000	5,000	695	4,305	96.52%	
Annual Color Rotation	20,000	5,000	6,400	(1,400)	68.00%	
Holiday Decorations	0	0	1,845	(1,845)	0.00%	
Landscape Replacement Plants, Shrubs, Trees	40,000	10,000	0	10,000	100.00%	
Landscape - Mulch	38,000	9,500	0	9,500	100.00%	
Landscape - Fertilizer Applications	30,000	7,500	8,750	(1,250)	70.83%	
Tree Trimming/Removal Services	10,800	2,700	0	2,700	100.00%	
Fire Ant Treatment	10,000	2,500	0	2,500	100.00%	
Landscape - Pest Control	5,300	1,325	1,395	(70)	73.67%	
Well Maintenance	6,000	1,500	0	1,500	100.00%	
Lift Station Maintenance	10,000	2,500	236	2,264	97.63%	
Wildlife Management Services	6,000	1,500	0	1,500	100.00%	
Miscellaneous Expenses	18,000	4,500	0	4,500	100.00%	
Road & Street Facilities						
Gate Maintenance	35,000	8,750	6,494	2,256	81.44%	
Gate Phone	7,500	1,875	2,133	(258)	71.56%	
Sidewalk Repair & Maintenance	15,000	3,750	4,250	(500)	71.66%	

Street Sign Repair & Replacement	1,000	250	0	250	100.00%	
Roadway Repair & Maintenance	5,000	1,250	2,529	(1,279)	49.42%	
Street Light/Decorative Light Maintenance	2,000	500	0	500	100.00%	
Parking Lot Repair & Maintenance	5,000	1,250	0	1,250	100.00%	
Parks & Recreation Management Contract	
221,000	
55,250	
36,945	
18,305	
83.28%	
Pool Repairs	5,000	1,250	4,525	(3,275)	9.50%	
Pool/Water Park/Fountain Maintenance	13,740	3,435	3,435	0	75.00%	
Facilities - Pest Control	550	137	153	(16)	72.18%	
Facility A/C & Heating Maintenance & Repair	10,000	2,500	193	2,307	98.06%	
Playground Equipment & Maintenance	1,500	375	0	375	100.00%	
Operating Supplies	7,500	1,875	4,664	(2,789)	37.81%	
Dog Waste Station Supplies	1,900	475	248	227	86.94%	
Vehicle Maintenance	2,000	500	678	(178)	66.11%	
Miscellaneous Expenses	5,000	1,250	703	547	85.94%	
Security System Monitoring & Maintenance	5,000	1,250	1,643	(393)	67.13%	
Clubhouse Internet, Cable, Phone	3,500	875	373	502	89.33%	
Athletic/Park Court/Field Repairs	5,000	1,250	478	772	90.44%	
Boardwalk & Bridge Maintenance	10,000	2,500	0	2,500	100.00%	
Computer Support Maintenance & Repair	1,000	250	0	250	100.00%	
Fitness Equipment Maintenance & Repair	2,000	500	232	268	88.40%	
Special Events Special Events	
10,000	
2,500	
4,229	
(1,729)	
57.71%	
Street Tree Removal Program Tree Purchase	
125,000	
31,250	
29,550	
1,700	
76.36%	
Street Tree Removal	150,000	37,500	114,425	(76,925)	23.71%	
Street Tree Install	223,000	55,750	126,671	(70,921)	43.19%	
Contingency						
Capital Outlay	24,000		6,000		0		6,000		100.00%	
Total Expenditures	2,025,236		533,995		612,730		(78,735)		69.75%	

Excess of Revenues Over (Under) Expenditures	
(226,665)		
1,235,879		
1,173,242		
(62,637)		
617.61%	

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		1,235,879		1,173,242		(62,637)		0.00%	

Fund Balance, Beginning of Period										
	0		0		1,044,010		1,044,010		0.00%	
Fund Balance, End of Period	 	0 		 	1,235,879 		 	2,217,253 		 	981,373 		 	0.00%	

Reserve Fund
From 10/1/2019 Through 12/31/2019
(In Whole Numbers)

Current Period
Annual Budget	Actual

Budget to Actual Variance

Budget Percentage Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		1,744		1,744		0.00%	
Special Assessments								
Tax Roll	225,158		225,158		0		0.00%	
Total Revenues	225,158		226,902		1,744		0.77%	

Expenditures
Contingency
Asset Replacement Reserve	107,597		0		107,597		100.00%	
Road Reserves	117,561		1,500		116,061		98.72%	
Total Expenditures	225,158		1,500		223,658		99.33%	

Excess of Revenues Over (Under) Expenditures	
0		
225,402		
225,402		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
225,402		
225,402		
0.00%	

Fund Balance, Beginning of Period								
	0		430,739		430,739		0.00%	
Fund Balance, End of Period	 	0 		 	656,141 		 	656,141 		 	0.00%	

Interest Earnings	0		1,217		1,217		0.00%	
Special Assessments								
Tax Roll	587,460		591,168		3,708		0.63%	
Total Revenues	587,460		592,385		4,925		0.84%	

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		
459,766		
459,766		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
459,766		
459,766		
0.00%	

Fund Balance, Beginning of Period								
	0		468,961		468,961		0.00%	
Fund Balance, End of Period	 	0 		 	928,727 		 	928,727 		 	0.00%	

Interest Earnings	0		637		637		0.00%	
Special Assessments								
Tax Roll	353,623		355,855		2,232		0.63%	
Total Revenues	353,623		356,492		2,869		0.81%	

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		
269,442		
269,442		
0.00%	

Exc. of Rev./Other Sources Over/(Under) Expend./Other Uses	
0		
269,442		
269,442		
0.00%	

Fund Balance, Beginning of Period								
	0		169,105		169,105		0.00%	
Fund Balance, End of Period	 	0 		 	438,547 		 	438,547 		 	0.00%	

Meadow Pointe III CDD Investment Summary December 31, 2019

Balance as of
Account	Investment	December 31, 2019

The Bank of Tampa	Money Market Account	$	244,013	
The Bank of Tampa ICS Program:				
BOKF, National Association	Money Market Account		43,312	
City National Bank of Florida	Money Market Account		9	
Flushing Bank	Money Market Account		9	
Pinnacle Bank	Money Market Account		245,262	
The Huntington National Bank	Money Market Account		245,271	
Western Alliance Bank	Money Market Account		40,833	

Total General Fund Investments    $	818,709 

The Bank of Tampa ICS Program:
Road Reserve
Mutual of Omaha Bank	Money Market Account	$	2
NexBank, SSB	Money Market Account	166,153
Pacific Western Bank	Money Market Account	1
The Park National Bank	Money Market Account	1
Western Alliance Bank	Money Market Account	58
Subtotal	166,215
Asset Replacement
BOKF, National Association	Money Market Account		201,958	
Fulton Bank, N.A.	Money Market Account		1	
Mutual of Omaha Bank	Money Market Account		7	
NexBank, SSB	Money Market Account		78,998	
The Park National Bank	Money Market Account		245,167	
Western Alliance Bank	Money Market Account		17	
		Subtotal	526,148	

Total Reserve Fund Investments    $	692,363 

US Bank Series 2007A Revenue	First American Treasury Obligation Fund Class Z	$	395,073	
US Bank Series 2013 Revenue	First American Treasury Obligation Fund Class Z		322,802	
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		26,536	
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		216,840	

Total Debt Service Fund Investments    $	1,251,581 

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2019	Pasco County Tax Collector	FY19-20	155,224.77

Total 001 - General Fund

155,224.77

Summary A/R Ledger
200 - Debt Service Fund - Series 2013 & 2015 From 12/1/2019 Through 12/31/2019

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2019	Pasco County Tax Collector	FY19-20	45,928.00

Total 200 - Debt Service Fund - Series 2013 & 2015

45,928.00

Summary A/R Ledger
202 - Debt Service Fund - Series 2007A From 12/1/2019 Through 12/31/2019

Invoice Date	Customer Name		Invoice Number		Current Balance	

10/1/2019	
Pasco County Tax Collector		
FY19-20		
27,646.48	
	
Total 202 - Debt Service Fund - Series 2007A				
27,646.48	

Report Balance					
228,799.25	

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

CINTAS Corporation #074		
9/13/2019		
4030187444		
Cleaning Supplies 09/19		
98.60	
Landmark Engineering & Surveying Corporation		10/11/2019		21950085		Record Permanent Control Points - Resurfacing Project 10/19		1,500.00	
Home Depot Credit Services		10/21/2019		xxxx xxxx xxxx 3880 11/19		Supplies 11/19		132.29	
All Florida Mechanical Services, Inc		10/29/2019		I8389		Qrtyl Preventative Maintenance 10/19		193.12	
Decorating Elves, Inc		11/27/2019		108841		Balance Due Holiday Lights 12/19		1,199.25	
Landscape Maintenance Professionals, Inc.		11/30/2019		148751		Palm Fertilization 11/19		450.00	
Landscape Maintenance Professionals, Inc.		11/30/2019		148752		Pest Control 11/19		445.00	
U.S. Water Services Corporation		12/3/2019		903071		Monthly Lift Station Inspection 12/19		78.74	
Ron Litts		12/6/2019		120619		Meeting AT Meadow Pointe III 12/19		3,900.00	
Southern Automated Access Services LLC		12/10/2019		7175		Gate Repair - Sheringham 12/19		95.00	
Bright House Networks		12/12/2019		0034120094-01 12/19		1500 Meadow Pointe Blvd 12/19		46.88	
DCSI Inc.		12/13/2019		26517		Clubhouse Camera Warranty 12/19		88.89	
ADT Security Services, Inc.		12/13/2019		743616871		Quarterly Security Monitoring 01/01/20-03/31/20		189.06	
Big Dog Fence, Inc.		12/13/2019		232420		Replace Picket Vinyl Fence Panel 12/19		660.00	
The Pampering Plumber		12/13/2019		53318		Repair Mens Pool Bath 12/19		168.00	
Ameritech Pressure Cleaning Systems, Inc.		12/16/2019		206907		Repair Pressure Washer 12/19		42.75	
Southern Automated Access Services LLC		12/17/2019		7219		Gate Phone
813-482-2049 12/19		49.95	
Michael J Hall		12/18/2019		MH121819		Board of Supervisors Meeting 12/18/19		200.00	
Pasco County Utilities		12/18/2019		12835612		1500 Meadow Pointe Blvd 11/19		490.37	

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

Paul Carlucci		
12/18/2019		
PC121819		
Board of Supervisors Meeting 12/18/19		
200.00	
Ameritech Pressure Cleaning Systems, Inc.		12/18/2019		207004		Repair Pressure Washer 12/19		57.05	
Arthur R Daddio		12/18/2019		RD121819		Board of Supervisors Meeting 12/18/19		200.00	
Glen Richard Aleo		12/18/2019		GA121819		Board of Supervisors Meeting 12/18/19		200.00	
DCSI Inc.		12/20/2019		26527		Gate CCTV Warranty/License Plate Camera 12/19		395.88	
CINTAS Corporation #074		12/20/2019		4037992088		Cleaning Supplies 12/19		25.34	
Home Depot Credit Services		12/20/2019		xxxx xxxx xxxx 3880 12/19		Supplies 12/19		629.41	
Withlacoochee River Electric Cooperative, Inc.		12/20/2019		1353910 12/19		Street Lights 12/19		1,342.07	
Southern Automated Access Services LLC		12/25/2019		7243		Gate Repair-Replaced Keypad at Heatherstone 12/19		229.60	
Straley Robin Vericker		12/27/2019		17850		General Legal Services 12/19		2,800.00	
Rizzetta Amenity Services, Inc.		12/27/2019		INV00000000006974		Amenity Management Services 12/19		7,258.67	
Site Masters of Florida, LLC		12/30/2019		123019-1		Constructed Underdrain on Beardsley 12/19		4,250.00	
Waste Connections Of Florida		12/31/2019		4383817		Waste Disposal 12/19		14,658.56	
Landscape Maintenance Professionals, Inc.		12/31/2019		149507		Pest Control 12/19		520.00	
Lowe's		1/2/2020		9900 321527 6 12/19		Clubhouse Supplies 12/19		235.36	
Southern Automated Access Services LLC		1/2/2020		7250		No Power Reset Breaker 12/19		95.00	
						
Total 001 - General Fund		
43,124.84	

Report Total								
43,124.84	

Notes to Unaudited Financial Statements December 31, 2019

Balance Sheet

Trust statement activity has been recorded through 12/31/19.
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 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.