Waterset North Community Development District

Financial Statements (Unaudited)

November 30, 2017

Prepared by: Rizzetta & Company, Inc.

watersetnorthcdd.org rizzetta.com

Waterset North Community Development District
Balance Sheet As of 11/30/2017 (In Whole Numbers)

General Fund		

Reserve Fund		
Debt Service Fund		
Capital Projects Fund		
Enterprise Fund		
Total Governmental Funds		General Fixed Asset Account Group		General Long-Term Debt Account
Group	

Assets																
Cash In Bank	714,529		0		0		1,684		40,221		756,434		0		0	
Cash On Hand	0		0		0		0		150		150		0		0	
Investments	38,300		0		982,720		5,476		0		1,026,496		0		0	
Investments - Reserves	0		10,041		0		0		0		10,041		0		0	
Accounts Receivable	1,123,683		0		935,371		1,200		705		2,060,958		0		0	
Accounts Receivable - Other	0		0		0		0		0		0		0		0	
Prepaid Expenses	0		0		0		0		0		0		0		0	
Deposits	17,717		0		0		0		500		18,217		0		0	
Due From Other Funds	0		52,493		271,489		0		14,178		338,160		0		0	
Amount Available in Debt Service	0		0		0		0		0		0		0		2,189,580	
Amount To Be Provided Debt Service	0		0		0		0		0		0		0		15,145,420	
Fixed Assets	0		0		0		0		0		0		55,640,387		0	
Total Assets	 	1,894,228 		 	62,534 		 	2,189,580 		 	8,361 		 	55,753 		 	4,210,456 		     55,640,387 		     17,335,000 	

Liabilities																
Accounts Payable	31,865		0		0		2,050		1,813		35,727		0		0	
Retainage Payable	0		0		0		0		0		0		0		0	
Accrued Expenses Payable	6,759		0		0		0		0		6,759		0		0	
Other Current Liabilities	0		0		0		0		0		0		0		0	
Due To Other Funds	338,160		0		0		0		0		338,160		0		0	
Revenue Bonds Payable--Long Term	0		0		0		0		0		0		0		17,335,000	
Capital Lease Obligation	0		0		0		0		0		0		0		0	
Total Liabilities	376,783		0		0		2,050		1,813		380,646		0		17,335,000	

Fund Equity & Other Credits																
Beginning Fund Balance	247,394		10,028		1,572,643		464		37,031		1,867,560		55,640,387		0	
Net Change in Fund Balance	1,270,051		52,506		616,937		5,847		16,909		1,962,250		0		0	
Total Fund Equity & Other Credits	1,517,445		62,534		2,189,580		6,311		53,940		3,829,810		55,640,387		0	

Total Liabilities & Fund Equity	
 	1,894,228 		
 	62,534 		
 	2,189,580 		
 	8,361 		
 	55,753 		
 	4,210,456 		
     55,640,387 		
     17,335,000 	

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	10	10	0.00%	
Special Assessments						
Tax Roll	1,315,044	1,315,044	1,329,955	14,911	(1.13)%	
Off Roll	168,423	168,423	168,423	0	0.00%	
Contributions From Private Sources	
Developer Contributions	32,928	32,928	5,488	(27,440)	83.33%	
Other Miscellaneous Revenues						
Miscellaneous	 	0 	 	0 	 	56 	 	56 	 	0.00%	
Total Revenues	 	1,516,395 	 	1,516,395 	 	1,503,932 	 	(12,463)	 	0.82%	

Expenditures
Legislative
Supervisor Fees	4,800	800	600	200	87.50%	
Financial & Administrative						
Administrative Services	4,500	750	750	0	83.33%	
District Management	23,300	3,883	3,883	0	83.33%	
District Engineer	2,364	394	0	394	100.00%	
Disclosure Report	6,000	0	0	0	100.00%	
Trustee Fees	7,000	3,500	3,500	0	50.00%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Financial & Revenue Collections	5,000	833	833	0	83.33%	
Accounting Services	17,500	2,917	2,917	0	83.33%	
Auditing Services	3,270	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,000	1,000	1,000	0	0.00%	
Public Officials Liability Insurance	2,750	2,750	2,500	250	9.09%	
Legal Advertising	500	83	1,780	(1,696)	(255.95)%	
Dues, Licenses & Fees	525	175	175	0	66.66%	
Website Fees & Maintenance	2,100	350	350	0	83.33%	
Legal Counsel						
District Counsel	20,000	3,333	7,353	(4,020)	63.23%	
Security Operations						
Security Services and Patrols	70,000	11,667	9,890	1,776	85.87%	
Electric Utility Services						
Utility Services	15,000	2,500	1,303	1,197	91.31%	
Utility - Recreation Facilities	15,000	2,500	3,646	(1,146)	75.69%	
Street Lights	75,000	12,500	9,422	3,078	87.43%	
Gas Utility Services						
Utility - Recreation Facilities	12,000	2,000	857	1,143	92.85%	
Garbage/Solid Waste Control Services						
Garbage - Recreation Facility	5,500	917	468	448	91.48%	
Water-Sewer Combination Services						
Utility Services	10,000	1,667	1,163	504	88.37%	
Utility - Reclaimed	20,000	3,333	1,680	1,653	91.59%	
Stormwater Control

Lake/Pond Bank Maintenance	5,000	833	0	833	100.00%	
Aquatic Maintenance	45,000	7,500	6,122	1,378	86.39%	
Mitigation Area Monitoring & Maintenance	6,190	1,032	0	1,032	100.00%	
Aquatic Plant Enhancement	10,000	1,667	0	1,667	100.00%	
Other Physical Environment						
General Liability Insurance	4,125	4,125	3,807	318	7.70%	
Property Insurance	18,598	18,598	16,850	1,748	9.39%	
Holiday Decorations	10,000	4,005	4,005	0	59.95%	
Entry & Walls Maintenance	1,000	167	0	167	100.00%	
Landscape Maintenance	530,000	88,333	84,293	4,041	84.09%	
Irrigation Repairs	10,000	1,667	11,464	(9,797)	(14.64)%	
Landscape Replacement Plants, Shrubs, Trees	35,000	5,833	4,528	1,305	87.06%	
Landscape Mulch	75,000	12,500	0	12,500	100.00%	
Field Operations	7,200	1,200	1,200	0	83.33%	
Fire Ant Treatment	3,200	533	0	533	100.00%	
Road & Street Facilities						
Sidewalk Repair & Maintenance	1,000	167	0	167	100.00%	
Street Sign Repair & Replacement	3,000	500	985	(485)	67.16%	
Parks & Recreation						
Management Contract	155,000	25,833	5,364	20,469	96.53%	
Vehicle Maintenance	1,500	250	0	250	100.00%	
Fitness Equipment Maintenance & Repairs	3,000	500	168	332	94.41%	
Pest Control	1,500	250	250	0	83.33%	
Pool Permits	1,000	0	0	0	100.00%	
Facility A/C & Heating Maintenance & Repair	4,000	667	345	322	91.37%	
Pool Service Contract	18,000	3,000	3,000	0	83.33%	
Pool Repairs	12,000	2,000	380	1,620	96.83%	
Maintenance & Repairs	18,000	3,000	468	2,532	97.39%	
Telephone, Fax, Internet	11,100	1,850	1,977	(127)	82.18%	
Clubhouse - Facility Janitorial Service	23,700	3,950	4,000	(50)	83.12%	
Clubhouse - Facility Janitorial Supplies	3,000	500	264	236	91.19%	
Window Cleaning	5,308	885	0	885	100.00%	
Computer Support, Maintenance & Repair	500	83	0	83	100.00%	
Security System Monitoring & Maintenance	3,500	583	290	294	91.72%	
Furniture Repair/Replacement	4,000	667	2,722	(2,055)	31.95%	
Clubhouse Miscellaneous Expense	7,500	1,250	455	795	93.93%	
Trail/Bike Path Maintenance	1,500	250	0	250	100.00%	

Playground Equipment & Maintenance	5,000	833	0	833	100.00%	
Access Control Maintenance & Repair	2,500	417	0	417	100.00%	
Athletic/Park Court/Field Repairs	1,500	250	0	250	100.00%	
Office Supplies	2,000	333	794	(461)	60.30%	
Facility Funding	126,474	21,079	21,079	0	83.33%	
Contingency						
Miscellaneous Contingency	 	12,391 		 	2,065 		 	0 		 	2,065 		 	100.00%	
Total Expenditures	 	1,516,395 		 	282,007 		 	233,881 		 	48,126 		 	84.58%	
Excess of Revenue Over (Under) Expenditures	0		1,234,388		1,270,051		35,663		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,234,388		
1,270,051		
35,663		
0.00%	

Fund Balance, Beginning of Period										
	0		0		247,394		247,394		0.00%	
Fund Balance, End of Period	 	0 		 	1,234,388 		 	1,517,445 		 	283,058 		 	0.00%	

Tax Roll	52,493		52,493		0		0.00%	
Total Revenues	52,493		52,506		13		0.03%	

Expenditures
Contingency								
Capital Reserve	52,493		0		52,493		100.00%	
Total Expenditures	52,493		0		52,493		100.00%	

Excess of Revenue Over (Under) Expenditures	
0		
52,506		
52,506		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
52,506		
52,506		
0.00%	

Fund Balance, Beginning of Period								
	0		10,028		10,028		0.00%	
Fund Balance, End of Period	 	0 		 	62,534 		 	62,534 		 	0.00%	

Tax Roll	490,598		496,158		5,560		1.13%	
Total Revenues	490,598		496,570		5,972		1.22%	

Expenditures								
Debt Service								
Interest	280,598		139,756		140,842		50.19%	
Principal	210,000		0		210,000		100.00%	
Total Expenditures	490,598		139,756		350,842		71.51%	

Excess of Revenue Over (Under) Expenditures	
0		
356,815		
356,815		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
356,815		
356,815		
0.00%	

Fund Balance, Beginning of Period								
	0		399,423		399,423		0.00%	
Fund Balance, End of Period	 	0 		 	756,238 		 	756,238 		 	0.00%	

201 - Debt Service Fund S2014 From 10/1/2017 Through 11/30/2017 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		1,692		1,692		0.00%	
Special Assessments								
Tax Roll	537,483		543,574		6,091		1.13%	
Off Roll	167,129		167,129		0		0.00%	
Total Revenues	704,611		712,394		7,783		1.10%	

Expenditures								
Debt Service								
Interest	534,611		275,894		258,717		48.39%	
Principal	170,000		170,000		0		0.00%	
Total Expenditures	704,611		445,894		258,717		36.72%	

Excess of Revenue Over (Under) Expenditures	
0		
266,500		
266,500		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		(6,378)		(6,378)		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		260,122		260,122		0.00%	

Fund Balance, Beginning of Period								
	0		1,173,219		1,173,219		0.00%	
Fund Balance, End of Period	 	0 		 	1,433,341 		 	1,433,341 		 	0.00%	

301 - Capital Projects Fund S2014 From 10/1/2017 Through 11/30/2017 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings					
Interest Earnings	0	2	2	0.00%	
Contributions From Private Sources					
Developer Contributions	0		2,717		2,717		0.00%	
Total Revenues	0		2,719		2,719		0.00%	

Expenditures
Other Physical Environment								
Improvements Other Than Buildings	0		3,250		(3,250)		0.00%	
Total Expenditures	0		3,250		(3,250)		0.00%	

Excess of Revenue Over (Under) Expenditures	
0		
(531)		
(531)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		6,378		6,378		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		5,847		5,847		0.00%	

Fund Balance, Beginning of Period								
	0		464		464		0.00%	
Fund Balance, End of Period	 	0 		 	6,311 		 	6,311 		 	0.00%	

400 - Enterprise Fund
From 10/1/2017 Through 11/30/2017
(In Whole Numbers)

Percent Annual Annual Budget	YTD Budget	YTD Actual	YTD Variance	Budget Remaining

Revenues
Other Miscellaneous Revenues
Food	72,000	12,000	11,966	(34)	83.37%	
Beverages	25,000	4,167	2,691	(1,476)	89.23%	
Alcoholic Beverages	13,000	2,167	513	(1,653)	96.05%	
Builder Relations	5,000	833	1,264	431	74.71%	
Facility Funding	 	126,474 	 	21,079 	 	21,079 	 	0 	 	83.33%	
Total Revenues	 	241,474 	 	40,246 	 	37,514 	 	(2,732)	 	84.46%	

Expenditures
Financial & Administrative
Bank Fees	8,000	1,333	1,279	54	84.00%	
Dues, Licenses & Fees	500	83	0	83	100.00%	
Miscellaneous Fees	100	17	0	17	100.00%	
Parks & Recreation						
Management Contract	153,500		25,583		7,081		18,503		95.38%	
Cafe Marketing & Consulting	500		83		0		83		100.00%	
Maintenance & Repairs	2,500		417		1,062		(646)		57.50%	
Facility Supplies	14,624		2,437		2,078		359		85.78%	
Food	45,000		7,500		6,551		949		85.44%	
Beverage	16,000		2,667		2,553		113		84.04%	
Computer Support, Maintenance & Repair	250		42		0		42		100.00%	
Office Supplies	 	500 		 	83 		 	0 		 	83 		 	100.00%	
Total Expenditures	 	241,474 		 	40,246 		 	20,605 		 	19,641 		 	91.47%	
Excess of Revenue Over (Under) Expenditures	0		(0)		16,909		16,909		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
(0)		
16,909		
16,909		
0.00%	

Fund Balance, Beginning of Period										
	0		0		37,031		37,031		0.00%	
Fund Balance, End of Period	 	0 		 	(0)		 	53,940 		 	53,940 		 	0.00%	

	Waterset North CDD		
	Investment Summary		
	November 30, 2017		
		
Balance as of	
Account	Investment	November 30, 2017	
The Bank of Tampa	Business Money Market	$	38,300	
	Total General Fund Investments	  $	38,300 	

The Bank of Tampa ICS Program:			
BOKF, National Association	Money Market	$	10,041	
	Total Reserve Fund Investments	  $	10,041 	

US Bank Series 2014 Reserve	

First American Treasury Obligation Fund Class Z	

$	722,637	
US Bank Series 2014 Prepayment	First American Treasury Obligation Fund Class Z	2	
US Bank Series 2017A-1 Reserve	First American Government Obligation Fund Class Y	173,793	
US Bank Series 2017A-2 Reserve	First American Government Obligation Fund Class Y	72,025	
US Bank Series 2017 Revenue	First American Government Obligation Fund Class Y	14,263	
	Total Debt Service Fund Investments	  $	982,720 	

US Bank Series 2014 Acquisition & Construction	

First American Treasury Obligation Fund Class Z	

$	5,476	
	Total Capital Project Fund Investments	  $	5,476 	

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2017		
Hillsborough County Tax Collector		
FY17-18		
1,073,116.07	
10/1/2017		NNP - Southbend II, LLC		435-18-01		49,123.14	
10/31/2017		NNP - Southbend II, LLC		OMR1017-2		1,005.00	
10/31/2017		Waterset Homeowners Association, Inc.		OMR1017-3		237.43	
11/30/2017		NNP - Southbend II, LLC		OMR1117-2		201.00	
				
Total 001 - General Fund		
1,123,682.64	

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2017	Hillsborough County Tax Collector	FY17-18	380,757.25

Total 200 - Debt Service Fund S2017

380,757.25

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2017		
Hillsborough County Tax Collector		
FY17-18		
417,144.73	
10/1/2017		NNP - Southbend II, LLC		435-18-01		137,468.68	
				
Total 201 - Debt Service Fund S2014		
554,613.41	

Invoice Date	Customer Name	Invoice Number	Current Balance

10/31/2017	NNP - Southbend II, LLC	ARB263	1,200.00

Total 301 - Capital Projects Fund S2014

1,200.00

Invoice Date	Customer Name	Invoice Number	Current Balance

10/31/2017	NNP - Southbend II, LLC	Cafe 1017-1	704.86

Total 400 - Enterprise Fund

704.86

Report Balance	2,060,958.16

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Vanguard Cleaning Systems of Tampa Bay		
9/30/2017		
73808		
Additional After Event Cleaning 09/17		
50.00	
Synergy FL		10/1/2017		54487		Monitoring Electronic Security System Amenity 10/17		54.95	
Suncoast Pool Service, Inc.		11/1/2017		4133		Pool & Spa Service 11/17		850.00	
Suncoast Pool Service, Inc.		11/10/2017		4142		Heater Repairs - Replacement of High Limit Switch 11/17		380.00	
G4S Secure Solutions Inc.		11/12/2017		8566344		Security Services 11/06/17 - 11/12/17		1,083.60	
VSC Fire & Security, Inc.		11/13/2017		05-886791		Annual Fire Alarm Inspection 11/17		340.00	
Sunrise Landcare, Inc.		11/16/2017		102363		Fertilizer & Pest Control 10/17		6,301.40	
G4S Secure Solutions Inc.		11/19/2017		8575467		Security Services 11/13/17 - 11/19/17		1,083.60	
Hillsborough County BOCC		11/21/2017		0761919834 11/17		6651 Waterset Blvd 11/17		120.15	
Sunrise Landcare, Inc.		11/23/2017		102529		Mowing Service on Milestone Drive 11/17		250.00	
Sunrise Landcare, Inc.		11/23/2017		102543		Irrigation Repairs 11/17		1,842.00	
Sunrise Landcare, Inc.		11/23/2017		102544		Irrigation Repairs 11/17		1,512.00	
Sunrise Landcare, Inc.		11/23/2017		102549		Landscape & Irrigation Maintenance 11/17		4,440.00	
G4S Secure Solutions Inc.		11/26/2017		8593130		Security Services 11/20/17 - 11/26/17		1,145.52	
Accurate Electronics, Inc		11/27/2017		70453		Maintenance & Repair 11/17		245.00	
Erin McCormick Law, P.A.		11/29/2017		10165		Legal Services 11/17		3,048.50	
Erin McCormick Law, P.A.		11/29/2017		10167		Boundary Modification 11/17		201.00	
Synergy FL		12/1/2017		60994		Monitoring Electronic Security System Amenity 11/17		54.95	
Tampa Electric Company		12/4/2017		Summary Bill 11/17		Summary Bill 11/17		7,540.72	
Hillsborough County BOCC		12/5/2017		2901278101 11/17		7024 Sail View Lane 11/17		311.32	
Sunrise Landcare, Inc.		12/8/2017		102583		Irrigation Repairs 11/17		630.00	
Sunrise Landcare, Inc.		12/8/2017		102584		Irrigation Repairs 11/17		380.00	
						
Total 001 - General Fund		
31,864.71	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Erin McCormick Law, P.A.		
11/29/2017		
CR 258 Erin McCormick		
CR 258-259 Series 2014		
134.00	
Florida Natives Nursery, Inc.		11/29/2017		CUS 257 Florida Natives		CUS 257 Series 2014		1,200.00	
Onsight Signage & Visual Solutions		11/29/2017		CR 259 Onsight		CR 258-259 Series 2014		716.00	
						
Total 301 - Capital Projects Fund S2014		
2,050.00	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

S & W Refrigeration, LLC		
10/31/2017		
WC 0000017089		
Service Call - Ice Machine 10/17		
175.00	
Sysco West Coast Florida, Inc.		11/15/2017		WC 137562157		Cafe Food/Beverages/Supplies 11/17		694.40	
Nu Vista Foods Group, Inc.		11/21/2017		WC 11211743		Cafe Food/Beverages/Supplies 11/17		254.43	
Florida Department of Revenue		11/30/2017		WC Sales Tax 11/17		Sales Tax Payable 11/17		688.91	
						
Total 400 - Enterprise Fund		
1,812.74	

Report Total								
35,727.45	

		Waterset North			
		Community Development District			
		Special Assessment Revenue Bonds- Series 2014			

Construction & Cost of Issuance Account Activity Through November 30, 2017	

Inflows:	
Debt Proceeds		
$	8,681,222.33		
	Underwriters Discount	213,300.00		
		Total Bond Proceeds:	8,894,522.33		
	
Interest Earnings	
17.42		
	Transfer from Revenue Account	7,022.23		
	Transfer from Reserve Account	5,655.10		
		Total Inflows:	$	8,907,217.08		

Outflows:					
Requisition	Requisition		Status with Trustee	
Date	Number	Contractor	Amount	As of 11/30/17	

09/09/14	
COI	
Underwriters Discount	
$	(213,300.00)	
Cleared	
09/09/14	COI	Holland and Knight	(5,250.00)	Cleared	
09/09/14	COI	Gray Robinson PA	(37,500.00)	Cleared	
09/09/14	COI	Adams and Reese LP	(95,000.00)	Cleared	
09/09/14	COI	Rizzetta & Company	(25,000.00)	Cleared	
09/09/14	COI	Rizzetta & Company	(5,000.00)	Cleared	
09/09/14	COI	Scarola & Associates Engineering	(12,808.87)	Cleared	
09/09/14	COI	US Bank	(4,967.81)	Cleared	
09/09/14	COI	Waterset North CDD	(2,532.19)	Cleared	
09/09/14	COI	Feldman and Mahoney PA	(45,000.00)	Cleared	
09/09/14	COI	Buchanan Ingersoll Rooney PC	(62,000.00)	Cleared	
09/30/14	COI	Image Masters	(1,250.00)	Cleared	
		Total COI Expenses:	(509,608.87)		
09/09/14	1	NNP Southbend II*	(6,279,122.58)	Cleared	
09/23/14	2	Ballenger & Company, Inc.	(4,043.50)	Cleared	
09/23/14	3	Buchanan Ingersoll & Rooney	(1,806.00)	Cleared	
09/23/14	4	Cardno Entrix	(1,687.00)	Cleared	
09/23/14	5	Ferguson Enterprises, Inc.	(1,060.00)	Cleared	
09/23/14	6	LRK, Inc.	(3,300.00)	Cleared	
09/23/14	7	RIPA & Associates, LLC	(341,314.29)	Cleared	
09/23/14	8	RIPA & Associates, LLC	(568,585.59)	Cleared	
09/23/14	9	Scarola & Associates Engineering	(5,468.11)	Cleared	
09/25/14	10	Lee Te Kim	(137,821.86)	Cleared	
09/25/14	11	Lee Te Kim	(15,313.54)	Cleared	
09/26/14	12	Lee Te Kim	(36,527.53)	Cleared	
09/26/14	13	Lee Te Kim	(51,301.54)	Cleared	
09/26/14	14	Lee Te Kim	(59,866.25)	Cleared	
09/30/14	15	Atlantic TNG, LLC	(31,008.07)	Cleared	
09/30/14	16	Danielle Fence	(46,800.00)	Cleared	
09/30/14	17	Ferguson Enterprises, Inc.	(27,763.74)	Cleared	
09/30/14	18	XylemWater Solutions U.S.A., Inc.	(903.00)	Cleared	

		Waterset North			
		Community Development District			
		Special Assessment Revenue Bonds- Series 2014			

Construction & Cost of Issuance Account Activity Through November 30, 2017	
09/30/14	19	Atlantic TNG, LLC	(93,218.99)	Cleared	
09/30/14	20	Buchanan Ingersoll & Rooney	(3,768.00)	Cleared	
09/30/14	21	Ferguson Enterprises, Inc.	(76,512.35)	Cleared	
09/30/14	22	Rinker Materials	(25,523.48)	Cleared	
09/30/14	23	RIPA & Associates, LLC	VOID	VOID	
09/30/14	24	RIPA & Associates, LLC	(180,859.01)	Cleared	
09/30/14	25	Sunrise Landscape	(21,146.04)	Cleared	
10/27/14	26	Ferguson Enterprises, Inc.	(37,600.13)	Cleared	
10/27/14	27	Sunrise Landscape	(120,193.87)	Cleared	
10/31/14	29	Atlantic TNG, LLC	(28,591.92)	Cleared	
10/31/14	30	Metcalf Enterprises LLC	(8,960.00)	Cleared	
10/31/14	33	Buchanan Ingersoll & Rooney	(9,312.00)	Cleared	
10/31/14	34	XylemWater Solutions U.S.A., Inc.	(141,467.00)	Cleared	
12/05/14	38	Cardno Entrix	(2,662.00)	Cleared	
12/10/14	42	Norwell	(13,798.00)	Cleared	
12/22/14	47	Cardno Entrix	(1,687.00)	Cleared	
01/12/15	54	Scarola & Associates Engineering	(4,250.16)	Cleared	
05/31/15	105	Crawford Signs	(1,140.00)	Cleared	
05/31/17	239	Florida Natives Nursery	(1,200.00)	Cleared	
05/31/17	240	Onsight Signage	(1,669.30)	Cleared	
05/31/17	241	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
08/31/17	245	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
08/31/17	250	Ballenger & Company, Inc.	(1,112.50)	Cleared	
11/30/17	253	Erin McCormick Law	(167.50)	Cleared	
11/30/17	254	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
11/30/17	258	Erin McCormick Law	(134.00)	AP	
11/30/17	259	Onsight Signage	(716.00)	AP	
		Total Requisitions:	(8,392,981.85)		
		
Total Outflows:	
(8,902,590.72)		

Construction Account Balance at November 30, 2017	

$	4,626.36		

* Reimbursement to NNP Southbend II, LLC for the financing of construction of Waterset Phases 2C-1, 2C-2 and 2C-3 Improvements pursuant to Amended Construction and Funding Agreement dated September 5, 2014.	

		Waterset North			
		Community Development District			
		S2014 Construction Custody Account			

Construction Custody Account Activity Through November 30, 2017	

Inflows:	
Developer Contribution	
$	19,509,224.70		
	Excess Funding Transferred from S2007 Custody Account	4,303.96		
	Due from Developer	1,200.00		
		Total Inflows:	$	19,514,728.66		

Outflows:					
Requisition	Requisition			Status with Trustee	
Date	Number	Contractor	Amount	as of 11/30/17	

10/28/14	
28	
RIPA & Associates, LLC	
$	(750,801.97)	
Cleared	
10/31/14	31	RIPA & Associates, LLC	(28,065.80)	Cleared	
10/31/14	32	RIPA & Associates, LLC	(198,810.26)	Cleared	
11/17/14	35	RIPA & Associates, LLC	(23,988.94)	Cleared	
11/19/14	36	RIPA & Associates, LLC	(949,317.54)	Cleared	
11/30/14	43	RIPA & Associates, LLC	(1,228,240.16)	Cleared	
12/01/14	37	Ferguson Enterprises, Inc.	(31,759.49)	Cleared	
12/09/14	39	Sunrise Landscape	(83,700.00)	Cleared	
12/10/14	40	Nirbo Inc.	(44,646.00)	Cleared	
12/10/14	41	Vak Pak, Inc.	(11,758.30)	Cleared	
12/16/14	44	Buchanan Ingersoll & Rooney	(8,344.00)	Cleared	
12/22/14	45	Buchanan Ingersoll & Rooney	(8,436.00)	Cleared	
12/22/14	46	Sunrise Landscape	(119,992.32)	Cleared	
12/22/14	48	Atlantic TNG, LLC	(24,099.09)	Cleared	
12/22/14	49	Rinker Materials	(171,852.03)	Cleared	
12/23/14	50	Ferguson Enterprises, Inc.	(141,007.61)	Cleared	
01/02/15	51	Buchanan Ingersoll & Rooney	(6,843.19)	Cleared	
01/05/15	52	RIPA & Associates, LLC	(1,547,619.62)	Cleared	
01/12/15	53	Manasota Construction	(47,922.74)	Cleared	
01/12/15	55	Lee Te Kim	(132,654.67)	Cleared	
01/12/15	56	Lee Te Kim	(14,739.41)	Cleared	
01/13/15	57	Metcalf Enterprises, LLC	(7,950.00)	Cleared	
01/14/15	58	Atlantic TNG, LLC	(115,679.91)	Cleared	
01/15/15	59	Atlantic TNG, LLC	(54,399.45)	Cleared	
01/15/15	60	Ferguson Enterprises, Inc.	(77,183.58)	Cleared	
01/15/15	61	Rinker Materials	(5,813.44)	Cleared	
02/02/15	62	Atlantic TNG, LLC	(32,219.97)	Cleared	
02/02/15	63	Ferguson Enterprises, Inc.	(274,772.96)	Cleared	
02/02/15	64	Rinker Materials	(43,076.03)	Cleared	
02/02/15	65	Manasota Construction	(46,231.45)	Cleared	
02/02/15	66	Ballenger & Company, Inc.	(3,688.75)	Cleared	
02/10/15	67	Ballenger & Company, Inc.	(1,707.50)	Cleared	
02/20/15	68	Atlantic TNG, LLC	(6,621.60)	Cleared	
02/20/15	69	Buchanan Ingersoll & Rooney	(6,760.00)	Cleared	
02/20/15	70	Ferguson Enterprises, Inc.	(43,233.58)	Cleared	
02/20/15	71	Rinker Materials	(154,476.57)	Cleared	
02/20/15	72	RIPA & Associates, LLC	(1,852,885.04)	Cleared	

		Waterset North			
Community Development District	
S2014 Construction Custody Account	

Construction Custody Account Activity Through November 30, 2017	
02/20/15	73	Sunrise Landscape	(38,336.92)	Cleared	
02/20/15	74	Waterset CDD	(467.00)	Cleared	
03/03/15	75	Ballenger & Company, Inc.	(1,070.00)	Cleared	
03/03/15	76	Ferguson Enterprises, Inc.	(22,594.20)	Cleared	
03/03/15	77	Manasota Construction	(161,133.95)	Cleared	
03/03/15	78	Rinker Materials	(14,604.12)	Cleared	
03/05/15	79	Vak Pak, Inc.	(38,975.20)	Cleared	
03/13/15	80	Accurate Electronics	(9,456.73)	Cleared	
03/13/15	81	Buchanan Ingersoll & Rooney	(4,326.00)	Cleared	
03/13/15	82	Creative Mailbox	(25,825.00)	Cleared	
03/13/15	83	Scarola & Associates Engineering	(4,366.69)	Cleared	
03/19/15	84	Creative Mailbox	(21,452.00)	Cleared	
03/19/15	85	Ferguson Enterprises, Inc.	(2,273.60)	Cleared	
03/19/15	86	Nirbo Inc.	(44,646.00)	Cleared	
03/19/15	87	Rinker Materials	(6,087.72)	Cleared	
03/24/15	88	Cardno Entrix	(1,687.00)	Cleared	
03/24/15	89	RIPA & Associates, LLC	(1,236,687.17)	Cleared	
03/24/15	90	RIPA & Associates, LLC	(451,896.50)	Cleared	
04/09/15	91	Buchanan Ingersoll & Rooney	(714.00)	Cleared	
04/09/15	92	Ferguson Enterprises, Inc.	(13,117.00)	Cleared	
04/09/15	93	Manasota Construction	(295,152.96)	Cleared	
04/09/15	94	ValleyCrest Landscape	(60,726.92)	Cleared	
04/09/15	95	Wabash Valley	(8,623.69)	Cleared	
04/21/15	96	RIPA & Associates, LLC	(1,036,167.10)	Cleared	
04/24/15	97	Norwell	(13,798.00)	Cleared	
05/14/15	98	Ballenger & Company, Inc.	(283.75)	Cleared	
05/14/15	99	Buchanan Ingersoll & Rooney	(840.00)	Cleared	
05/14/15	100	Manasota Construction	(226,666.69)	Cleared	
05/14/15	101	ValleyCrest Landscape	(398,520.39)	Cleared	
05/26/15	102	Cardno, Inc.	(2,462.00)	Cleared	
05/26/15	103	Ferguson Enterprises, Inc.	(2,340.00)	Cleared	
05/26/15	104	RIPA & Associates, LLC	(864,702.65)	Cleared	
05/31/15	106	Creative Mailbox	(360.00)	Cleared	
05/31/15	107	Ferguson Enterprises, Inc.	(8,509.00)	Cleared	
05/31/15	108	Nirbo Inc.	(3,900.00)	Cleared	
05/31/15	109	Scarola & Associates Engineering	(2,236.70)	Cleared	
06/30/15	110	Buchanan Ingersoll & Rooney	(84.00)	Cleared	
06/30/15	111	Crawford Signs Inc.	(44.00)	Cleared	
06/30/15	112	Creative Sign Designs	(8,547.85)	Cleared	
06/30/15	113	Manasota Construction	(227,156.11)	Cleared	
06/30/15	114	Ballenger & Company, Inc.	(1,702.50)	Cleared	
06/30/15	115	Cardno, Inc.	(1,687.00)	Cleared	
06/30/15	116	RIPA & Associates, LLC	(644,723.73)	Cleared	
06/30/15	117	Signature Signs, Inc.	(1,010.00)	Cleared	
06/30/15	118	Manasota Construction	(19,612.10)	Cleared	
06/30/15	119	ValleyCrest Landscape	(349,972.80)	Cleared	
07/31/15	120	Buchanan Ingersoll & Rooney	(924.00)	Cleared	
07/31/15	121	Scarola & Associates Engineering	(2,515.02)	Cleared	

		Waterset North			
Community Development District	
S2014 Construction Custody Account	

Construction Custody Account Activity Through November 30, 2017	
07/31/15	122	Signature Signs, Inc.	(95.00)	Cleared	
07/31/15	123	Cardno, Inc.	(1,687.00)	Cleared	
07/31/15	124	Creative Sign Designs	(560.00)	Cleared	
07/31/15	125	Manasota Construction	(56,879.00)	Cleared	
07/31/15	126	Accurate Electronics	(9,456.71)	Cleared	
07/31/15	127	RIPA & Associates, LLC	(154,457.46)	Cleared	
08/31/15	128	Buchanan Ingersoll & Rooney	(2,982.00)	Cleared	
08/31/15	129	Creative Mailbox	(28,932.00)	Cleared	
08/31/15	130	Heidt Design	(1,250.00)	Cleared	
08/31/15	131	ValleyCrest Landscape	(121,953.38)	Cleared	
08/31/15	132	ValleyCrest Landscape	(11,245.21)	Cleared	
08/31/15	133	Cardno Entrix	(975.00)	Cleared	
09/30/15	134	Buchanan Ingersoll & Rooney	(5,964.00)	Cleared	
09/30/15	135	Heidt Design	(625.00)	Cleared	
09/30/15	136	Manasota Construction	(35,855.52)	Cleared	
09/30/15	137	Metcalf Enterprises, LLC	(3,900.00)	Cleared	
09/30/15	138	RIPA & Associates, LLC	(126,818.76)	Cleared	
09/30/15	139	RIPA & Associates, LLC	(600,679.12)	Cleared	
09/30/15	140	Florida Natives Nursey, Inc.	(4,463.16)	Cleared	
09/30/15	141	ValleyCrest Landscape	(7,492.50)	Cleared	
09/30/15	142	Buchanan Ingersoll & Rooney	(3,066.00)	Cleared	
09/30/15	143	Florida Natives Nursey, Inc.	(15,150.00)	Cleared	
09/30/15	144	Lee Te Kim	(205,320.20)	Cleared	
11/30/15	145	Manasota Construction	(58,771.98)	Cleared	
11/30/15	146	Buchanan Ingersoll & Rooney	(2,394.00)	Cleared	
11/30/15	147	ValleyCrest Landscape	(105,545.78)	Cleared	
11/30/15	148	Lee Te Kim	(232,946.41)	Cleared	
12/31/15	149	Buchanan Ingersoll & Rooney	(756.00)	Cleared	
12/31/15	150	Florida Natives Nursey, Inc.	(2,400.00)	Cleared	
12/31/15	151	RIPA & Associates, LLC	(26,026.00)	Cleared	
12/31/15	152	RIPA & Associates, LLC	(28,021.00)	Cleared	
12/31/15	153	Buchanan Ingersoll & Rooney	(2,688.00)	Cleared	
12/31/15	154	Florida Natives Nursey, Inc.	(2,400.00)	Cleared	
12/31/15	155	Lee Te Kim	(133,592.53)	Cleared	
12/31/15	156	RIPA & Associates, LLC	(5,591.00)	Cleared	
02/28/16	157	Lee Te Kim	(72,097.56)	Cleared	
02/28/16	158	Scarola & Associates Engineering	(2,700.04)	Cleared	
03/31/16	159	Lee Te Kim	(3,500.00)	Cleared	
04/30/16	160	Atlantic TNG, LLC	(21,818.50)	Cleared	
04/30/16	161	Ferguson Enterprises, Inc.	(83,717.36)	Cleared	
04/30/16	162	Florida Natives Nursey, Inc.	(8,025.00)	Cleared	
04/30/16	163	Forterra Pipe and Precast, LLC	(1,363.74)	Cleared	
04/30/16	164	Erin McCormick Law	(715.00)	Cleared	
04/30/16	165	The Kearney Companies, LLC	(332,891.66)	Cleared	
05/31/16	166	Florida Natives Nursey, Inc.	(2,400.00)	Cleared	
05/31/16	167	Lee Te Kim	(71,550.74)	Cleared	
05/31/16	168	Atlantic TNG, LLC	(8,463.00)	Cleared	
05/31/16	169	Ballenger & Company, Inc.	(300.00)	Cleared	
05/31/16	170	Erin McCormick Law	(1,007.50)	Cleared	

		Waterset North			
		Community Development District			
		S2014 Construction Custody Account			

Construction Custody Account Activity Through November 30, 2017	
05/31/16	171	Ferguson Enterprises, Inc.	(72,684.63)	Cleared	
05/31/16	172	Florida Soil Cement Company, Inc.	(92,165.54)	Cleared	
05/31/16	173	Forterra Pipe and Precast, LLC	(25,470.00)	Cleared	
06/30/16	174	The Kearney Companies, LLC	(233,548.85)	Cleared	
06/30/16	175	The Kearney Companies, LLC	(31,468.91)	Cleared	
06/30/16	176	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
06/30/16	177	Scarola & Associates Engineering	(2,756.69)	Cleared	
06/30/16	178	Erin McCormick Law	(1,430.00)	Cleared	
06/30/16	179	Ferguson Enterprises, Inc.	(9,360.95)	Cleared	
06/30/16	180	Heidt Design	(950.00)	Cleared	
06/30/16	181	Creative Sign Designs	(4,995.44)	Cleared	
06/30/16	182	Florida Natives Nursey, Inc.	(18,825.00)	Cleared	
06/30/16	183	The Kearney Companies, LLC	(8,172.26)	Cleared	
06/30/16	184	Lee Te Kim	(1,350.00)	Cleared	
07/31/16	185	Ballenger & Company, Inc.	(4,891.25)	Cleared	
07/31/16	186	Erin McCormick Law	(422.50)	Cleared	
07/31/16	187	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
07/31/16	188	The Kearney Companies, LLC	(21,047.90)	Cleared	
07/31/16	189	Ferguson Enterprises, Inc.	(3,304.03)	Cleared	
07/31/16	190	Forterra Pipe and Precast, LLC	(209.12)	Cleared	
08/14/16		Buchanan Ingersoll & Rooney Refund for Overpayment	1,848.00	Cleared	
08/31/16	191	Erin McCormick Law	(1,765.50)	Cleared	
08/31/16	192	The Kearney Companies, LLC	(3,472.67)	Cleared	
08/31/16	193	The Kearney Companies, LLC	(33,189.59)	Cleared	
09/30/16	194	Creative Mailbox	(1,100.00)	Cleared	
09/30/16	195	Erin McCormick Law	(2,502.50)	Cleared	
09/30/16	196	Florida Natives Nursey, Inc.	(2,200.00)	Cleared	
09/30/16	197	RIPA & Associates, LLC	(23,476.05)	Cleared	
10/31/16	198	Erin McCormick Law	(4,907.50)	Cleared	
10/31/16	199	Atlantic TNG, LLC	(28,721.83)	Cleared	
10/31/16	200	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
10/31/16	201	RIPA & Associates, LLC	(131,335.81)	Cleared	
10/31/16	202	Metcalf Enterprises, LLC	(1,800.00)	Cleared	
10/31/16	203	HD Supply Waterworks	(10,330.21)	Cleared	
10/31/16	204	Atlantic TNG, LLC	(17,771.18)	Cleared	
11/30/16	205	RIPA & Associates, LLC	(269,348.02)	Cleared	
12/31/16	206	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
12/31/16	207	Scarola & Associates Engineering	(3,478.37)	Cleared	
12/31/16	208	Atlantic TNG, LLC	(10,454.28)	Cleared	
12/31/16	209	Ballenger & Company, Inc.	(2,336.25)	Cleared	
12/31/16	210	Erin McCormick Law	(1,950.00)	Cleared	
12/31/16	211	HD Supply Waterworks	(88,846.45)	Cleared	
12/31/16	212	Rinker Materials	(30,497.28)	Cleared	
12/31/16	213	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
12/31/16	214	HD Supply Waterworks	(3,924.18)	Cleared	
12/31/16	215	Onsight Signage & Visual Solutions	(5,128.38)	Cleared	
12/31/16	216	Onsight Signage & Visual Solutions	(3,043.35)	Cleared	
12/31/16	217	RIPA & Associates, LLC	(372,585.86)	Cleared	

		Waterset North			
		Community Development District			
		S2014 Construction Custody Account			

Construction Custody Account Activity Through November 30, 2017	
12/31/16	218	RIPA & Associates, LLC	(429,563.27)	Cleared	
12/31/16	219	RIPA & Associates, LLC	(68,128.27)	Cleared	
12/31/16	220	Scarola & Associates Engineering	(700.02)	Cleared	
01/31/17	221	Erin McCormick Law	(1,332.50)	Cleared	
01/31/17	222	Florida Natives Nursey, Inc.	(2,400.00)	Cleared	
01/31/17	223	HD Supply Waterworks	(15,761.99)	Cleared	
01/31/17	224	Onsight Signage & Visual Solutions	(545.00)	Cleared	
01/31/17	225	Onsight Signage & Visual Solutions	(4,588.37)	Cleared	
01/31/17	226	Onsight Signage & Visual Solutions	(3,043.35)	Cleared	
01/31/17	227	Onsight Signage & Visual Solutions	(141.00)	Cleared	
02/28/17	228	RIPA & Associates, LLC	(37,924.85)	Cleared	
03/31/17	229	RIPA & Associates, LLC	(14,743.91)	Cleared	
03/31/17	230	RIPA & Associates, LLC	(70,900.38)	Cleared	
04/30/17	231	Ballenger & Company, Inc.	(4,420.00)	Cleared	
04/30/17	232	VOID	VOID	VOID	
04/30/17	233	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
04/30/17	234	Scarola & Associates Engineering	(1,088.78)	Cleared	
04/30/17	235	Erin McCormick Law	(3,433.50)	Cleared	
04/30/17	236	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
04/30/17	237	Metcalf Enterprises, LLC	(1,460.00)	Cleared	
04/30/17	238	Waterset CDD	(1,000.00)	Cleared	
05/31/17	242	Onsight Signage & Visual Solutions	(11,992.65)	Cleared	
05/31/17	243	Onsight Signage & Visual Solutions	(1,380.70)	Cleared	
06/30/17	244	Onsight Signage & Visual Solutions	(6,760.00)	Cleared	
08/31/17	246	Ballenger & Company, Inc.	(10,860.00)	Cleared	
08/31/17	247	VOID	VOID	VOID	
08/31/17	248	Onsight Signage & Visual Solutions	(275.00)	Cleared	
08/31/17	249	Scarola & Associates Engineering	(673.35)	Cleared	
08/31/17	251	Florida Natives Nursey, Inc.	(2,400.00)	Cleared	
08/31/17	252	Onsight Signage & Visual Solutions	(12,045.00)	Cleared	
09/30/17	255	Ballenger & Company, Inc.	(13,537.50)	Cleared	
10/31/17	256	Florida Natives Nursey, Inc.	(1,200.00)	Cleared	
11/30/17	257	Florida Natives Nursey, Inc.	(1,200.00)	AP	
		Total Construction Requisitions:	(19,513,044.27)		
		
Total Outflows:	
(19,513,044.27)		

Series 2014 Custody Account Balance at November 30, 2017	
$	1,684.39		

Waterset North Community Development District Notes to Unaudited Financial Statements November 30, 2017

Balance Sheet

Trust statement activity has been recorded through 11/30/17.
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 FY17-18 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 – Payments for Invoice #FY17-18 totaling $779,564.81 were received in December 2017.
General Fund – Payments for Invoice #435-18-01 totaling $42,312.46 were received in December 2017.
General Fund – Payment for Invoice #OMR1017-2 totaling $1,005.00 was received in December 2017.
Debt Service Fund 200 – Payments for Invoice #FY17-18 totaling $290,827.20 were received in December 2017.
Debt Service Fund 201 – Payments for Invoice #FY17-18 totaling $318,620.42 were received in December 2017.
Debt Service Fund 201 – Payments for Invoice #435-18-01 totaling $47,841.19 were received in December 2017.
Enterprise Fund – Payment for Invoice #Cafe 1017-1 totaling $704.86 was received in December 2017.