Waterset North Community Development District

Financial Statements (Unaudited)

December 31, 2017

Prepared by: Rizzetta & Company, Inc.

watersetnorthcdd.org rizzetta.com

Waterset North Community Development District
Balance Sheet As of 12/31/2017 (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	1,819,796		0		0		484		61,630		1,881,910		0		0	
Cash On Hand	0		0		0		0		150		150		0		0	
Investments	38,304		0		1,254,352		5,201		0		1,297,857		0		0	
Investments - Reserves	0		10,048		0		0		0		10,048		0		0	
Accounts Receivable	300,800		0		278,082		1,200		1,286		581,368		0		0	
Accounts Receivable - Other	0		0		0		0		0		0		0		0	
Prepaid Expenses	0		0		0		0		0		0		0		0	
Deposits	17,837		0		0		0		500		18,337		0		0	
Due From Other Funds	0		52,493		657,289		0		3,080		712,862		0		0	
Amount Available in Debt Service	0		0		0		0		0		0		0		2,189,722	
Amount To Be Provided Debt Service	0		0		0		0		0		0		0		15,145,278	
Fixed Assets	0		0		0		0		0		0		55,640,387		0	
Total Assets	 	2,176,737 		 	62,541 		 	2,189,722 		 	6,885 		 	66,646 		 	4,502,532 		     55,640,387 		     17,335,000 	

Liabilities																
Accounts Payable	51,679		0		0		0		24,717		76,396		0		0	
Retainage Payable	0		0		0		0		0		0		0		0	
Accrued Expenses Payable	0		0		0		0		0		0		0		0	
Other Current Liabilities	0		0		0		0		0		0		0		0	
Due To Other Funds	712,862		0		0		0		0		712,862		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	764,541		0		0		0		24,717		789,258		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	1,164,802		52,513		617,080		6,421		4,898		1,845,714		0		0	
Total Fund Equity & Other Credits	1,412,196		62,541		2,189,722		6,885		41,930		3,713,274		55,640,387		0	

Total Liabilities & Fund Equity	
 	2,176,737 		
 	62,541 		
 	2,189,722 		
 	6,885 		
 	66,646 		
 	4,502,532 		
     55,640,387 		
     17,335,000 	

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	14	14	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	8,232	(24,696)	75.00%	
Other Miscellaneous Revenues						
Miscellaneous	 	0 	 	0 	 	56 	 	56 	 	0.00%	
Total Revenues	 	1,516,395 	 	1,516,395 	 	1,506,681 	 	(9,714)	 	0.64%	

Expenditures
Legislative
Supervisor Fees	4,800	1,200	800	400	83.33%	
Financial & Administrative						
Administrative Services	4,500	1,125	1,125	0	75.00%	
District Management	23,300	5,825	5,825	0	74.99%	
District Engineer	2,364	591	0	591	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	1,250	1,250	0	74.99%	
Accounting Services	17,500	4,375	4,375	0	75.00%	
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	125	1,780	(1,655)	(255.95)%	
Dues, Licenses & Fees	525	175	175	0	66.66%	
Website Fees & Maintenance	2,100	525	525	0	75.00%	
Legal Counsel						
District Counsel	20,000	5,000	10,035	(5,035)	49.82%	
Security Operations						
Security Services and Patrols	70,000	17,500	17,230	270	75.38%	
Electric Utility Services						
Utility Services	15,000	3,750	2,017	1,733	86.55%	
Utility - Recreation Facilities	15,000	3,750	5,234	(1,484)	65.10%	
Street Lights	75,000	18,750	14,107	4,643	81.19%	
Gas Utility Services						
Utility - Recreation Facilities	12,000	3,000	2,077	923	82.69%	
Garbage/Solid Waste Control Services						
Garbage - Recreation Facility	5,500	1,375	937	438	82.96%	
Water-Sewer Combination Services						
Utility Services	10,000	2,500	1,818	682	81.82%	
Utility - Reclaimed	20,000	5,000	3,659	1,341	81.70%	
Stormwater Control

Lake/Pond Bank Maintenance	5,000	1,250	0	1,250	100.00%	
Aquatic Maintenance	45,000	11,250	9,183	2,067	79.59%	
Mitigation Area Monitoring & Maintenance	6,190	1,547	0	1,547	100.00%	
Aquatic Plant Enhancement	10,000	2,500	0	2,500	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	10,000	8,010	1,990	19.90%	
Entry & Walls Maintenance	1,000	250	0	250	100.00%	
Landscape Maintenance	530,000	132,500	120,518	11,982	77.26%	
Irrigation Repairs	10,000	2,500	14,078	(11,578)	(40.78)%	
Landscape Replacement Plants, Shrubs, Trees	35,000	8,750	4,528	4,222	87.06%	
Landscape Mulch	75,000	18,750	0	18,750	100.00%	
Field Operations	7,200	1,800	1,800	0	75.00%	
Fire Ant Treatment	3,200	800	0	800	100.00%	
Road & Street Facilities						
Sidewalk Repair & Maintenance	1,000	250	0	250	100.00%	
Street Sign Repair & Replacement	3,000	750	985	(235)	67.16%	
Parks & Recreation						
Management Contract	155,000	38,750	25,484	13,266	83.55%	
Vehicle Maintenance	1,500	375	0	375	100.00%	
Fitness Equipment Maintenance & Repairs	3,000	750	168	582	94.41%	
Pest Control	1,500	375	375	0	75.00%	
Pool Permits	1,000	0	0	0	100.00%	
Facility A/C & Heating Maintenance & Repair	4,000	1,000	345	655	91.37%	
Pool Service Contract	18,000	4,500	4,500	0	75.00%	
Pool Repairs	12,000	3,000	380	2,620	96.83%	
Maintenance & Repairs	18,000	4,500	517	3,983	97.13%	
Telephone, Fax, Internet	11,100	2,775	2,967	(192)	73.27%	
Clubhouse - Facility Janitorial Service	23,700	5,925	5,975	(50)	74.78%	
Clubhouse - Facility Janitorial Supplies	3,000	750	264	486	91.19%	
Window Cleaning	5,308	1,327	0	1,327	100.00%	
Computer Support, Maintenance & Repair	500	125	0	125	100.00%	
Security System Monitoring & Maintenance	3,500	875	400	475	88.58%	
Furniture Repair/Replacement	4,000	1,000	2,722	(1,722)	31.95%	
Clubhouse Miscellaneous Expense	7,500	1,875	633	1,242	91.55%	
Trail/Bike Path Maintenance	1,500	375	0	375	100.00%	

Playground Equipment & Maintenance	5,000	1,250	0	1,250	100.00%	
Access Control Maintenance & Repair	2,500	625	0	625	100.00%	
Athletic/Park Court/Field Repairs	1,500	375	0	375	100.00%	
Office Supplies	2,000	500	805	(305)	59.76%	
Facility Funding	126,474	31,619	31,619	0	75.00%	
Contingency						
Miscellaneous Contingency	 	12,391 		 	3,098 		 	0 		 	3,098 		 	100.00%	
Total Expenditures	 	1,516,395 		 	409,430 		 	341,879 		 	67,551 		 	77.45%	
Excess of Revenue Over (Under) Expenditures	0		1,106,965		1,164,802		57,836		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
1,106,965		
1,164,802		
57,836		
0.00%	

Fund Balance, Beginning of Period										
	0		0		247,394		247,394		0.00%	
Fund Balance, End of Period	 	0 		 	1,106,965 		 	1,412,196 		 	305,231 		 	0.00%	

Tax Roll	52,493		52,493		0		0.00%	
Total Revenues	52,493		52,513		20		0.04%	

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		
52,513		
52,513		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
52,513		
52,513		
0.00%	

Fund Balance, Beginning of Period								
	0		10,028		10,028		0.00%	
Fund Balance, End of Period	 	0 		 	62,541 		 	62,541 		 	0.00%	

Tax Roll	490,598		496,158		5,560		1.13%	
Total Revenues	490,598		496,712		6,114		1.25%	

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		
356,956		
356,956		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
356,956		
356,956		
0.00%	

Fund Balance, Beginning of Period								
	0		399,423		399,423		0.00%	
Fund Balance, End of Period	 	0 		 	756,380 		 	756,380 		 	0.00%	

201 - Debt Service Fund S2014 From 10/1/2017 Through 12/31/2017 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		2,264		2,264		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		712,966		8,355		1.19%	

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		
267,072		
267,072		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		(6,949)		(6,949)		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		260,123		260,123		0.00%	

Fund Balance, Beginning of Period								
	0		1,173,219		1,173,219		0.00%	
Fund Balance, End of Period	 	0 		 	1,433,343 		 	1,433,343 		 	0.00%	

301 - Capital Projects Fund S2014 From 10/1/2017 Through 12/31/2017 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings					
Interest Earnings	0	6	6	0.00%	
Contributions From Private Sources					
Developer Contributions	0		2,717		2,717		0.00%	
Total Revenues	0		2,722		2,722		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		
(528)		
(528)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		6,949		6,949		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		6,421		6,421		0.00%	

Fund Balance, Beginning of Period								
	0		464		464		0.00%	
Fund Balance, End of Period	 	0 		 	6,885 		 	6,885 		 	0.00%	

400 - Enterprise Fund
From 10/1/2017 Through 12/31/2017
(In Whole Numbers)

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

Revenues
Other Miscellaneous Revenues
Food	72,000	18,000	15,212	(2,788)	78.87%	
Beverages	25,000	6,250	3,916	(2,334)	84.33%	
Alcoholic Beverages	13,000	3,250	777	(2,473)	94.01%	
Builder Relations	5,000	1,250	2,466	1,216	50.67%	
Facility Funding	 	126,474 	 	31,619 	 	31,619 	 	0 	 	75.00%	
Total Revenues	 	241,474 	 	60,368 	 	53,990 	 	(6,378)	 	77.64%	

Expenditures
Financial & Administrative
Bank Fees	8,000	2,000	1,923	77	75.96%	
Dues, Licenses & Fees	500	125	0	125	100.00%	
Miscellaneous Fees	100	25	0	25	100.00%	
Parks & Recreation						
Management Contract	153,500		38,375		30,055		8,320		80.41%	
Cafe Marketing & Consulting	500		125		0		125		100.00%	
Maintenance & Repairs	2,500		625		1,062		(437)		57.50%	
Facility Supplies	14,624		3,656		2,916		740		80.05%	
Food	45,000		11,250		9,848		1,402		78.11%	
Beverage	16,000		4,000		3,287		713		79.45%	
Computer Support, Maintenance & Repair	250		62		0		62		100.00%	
Office Supplies	 	500 		 	125 		 	0 		 	125 		 	100.00%	
Total Expenditures	 	241,474 		 	60,369 		 	49,092 		 	11,277 		 	79.67%	
Excess of Revenue Over (Under) Expenditures	0		(0)		4,898		4,898		0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
(0)		
4,898		
4,898		
0.00%	

Fund Balance, Beginning of Period										
	0		0		37,031		37,031		0.00%	
Fund Balance, End of Period	 	0 		 	(0)		 	41,930 		 	41,930 		 	0.00%	

	Waterset North CDD		
	Investment Summary		
	December 31, 2017		
		
Balance as of	
Account	Investment	December 31, 2017	
The Bank of Tampa	Business Money Market	$	38,304	
	Total General Fund Investments	  $	38,304 	

The Bank of Tampa ICS Program:			
Western Alliance Bank	Money Market	$	10,048	
	Total Reserve Fund Investments	  $	10,048 	

US Bank Series 2014 Revenue	

First American Treasury Obligation Fund Class Z	

$	156,090	
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	129,805	
	Total Debt Service Fund Investments	  $	1,254,352 	

US Bank Series 2014 Acquisition & Construction	

First American Treasury Obligation Fund Class Z	

$	5,201	
	Total Capital Project Fund Investments	  $	5,201 	

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2017		
Hillsborough County Tax Collector		
FY17-18		
293,551.26	
10/1/2017		NNP - Southbend II, LLC		435-18-01		6,810.68	
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		
300,800.37	

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2017	Hillsborough County Tax Collector	FY17-18	89,930.05

Total 200 - Debt Service Fund S2017

89,930.05

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2017		
Hillsborough County Tax Collector		
FY17-18		
98,524.31	
10/1/2017		NNP - Southbend II, LLC		435-18-01		89,627.49	
				
Total 201 - Debt Service Fund S2014		
188,151.80	

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	

12/1/2017		
NNP - Southbend II, LLC		
Cafe 1117-1	
761.57	
12/31/2017		NNP - Southbend II, LLC		Cafe 1217-1	524.57	
				
Total 400 - Enterprise Fund	
1,286.14	

Report Balance	581,368.36

Vendor Name	Invoice Date	Invoice Number	Invoice Description	Current Balance

Castle Management, LLC	10/27/2017	PREIM10-27-187	Payroll - Period 10/07/17 - 10/20/17	4,211.23	
Castle Management, LLC	11/10/2017	PREIM11-10-166	Payroll - Period 10/21/17 - 11/03/17	3,397.02	
Castle Management, LLC	11/22/2017	PREIM11-22-169	Payroll - Period 11/04/17 - 11/17/17	4,513.29	
Shine of North Tampa	11/25/2017	1088 A	Final Payment for 2017 Holiday Lighting 12/17	4,005.00	
Castle Management, LLC	12/8/2017	PREIM12-08-171	Payroll - Period 11/18/17 - 12/01/17	4,109.96	
G4S Secure Solutions Inc.	12/10/2017	8613568	Security Services 12/04/17 - 12/10/17	1,083.60	
Ballenger & Company, Inc.	12/12/2017	17576	Irrigation Repairs 12/17	375.00	
Ballenger & Company, Inc.	12/12/2017	17578	Irrigation Repairs 12/17	1,550.00	
NVirotect Pest Control, Inc.	12/14/2017	140570	Pest Control - 8382 12/17	95.00	
NVirotect Pest Control, Inc.	12/14/2017	140571	Pest Control - 8382 Amenity 12/17	30.00	
G4S Secure Solutions Inc.	12/17/2017	8622283	Security Services 12/11/17 - 12/17/17	1,083.60	
Hillsborough County BOCC	12/18/2017	0761919834 12/17	6651 Waterset Blvd 12/17	124.80	
Crossroads Ace Hardware	12/19/2017	13474904	Repair & Maintenance Supplies 12/17	43.25	
Sunrise Landcare, Inc.	12/19/2017	102635	Fertilizer & Pest Control 11/17	6,758.65	
Landscape Maintenance Professionals, Inc.	12/21/2017	129128	Irrigation Repairs 12/17	689.28	
Castle Management, LLC	12/22/2017	PREIM12-22-171	Payroll - Period 12/02/17 - 12/15/17	3,887.80	
G4S Secure Solutions Inc.	12/24/2017	8636353	Security Services 12/18/17 - 12/24/17	1,083.60	
Landscape Maintenance Professionals, Inc.	12/30/2017	129324	Pest Control 12/17	1,075.00	
G4S Secure Solutions Inc.	12/31/2017	8646786	Security Services 12/25/17 - 12/31/17	2,075.52	
Synergy FL	1/1/2018	63745	Monitoring Electronic Security System Fitness 12/17	54.95	
Hillsborough County BOCC	1/2/2018	2901278101 12/17	7024 Sail View Lane 12/17	280.93	
Hillsborough County BOCC	1/2/2018	9581654736 01/18	Summary Bill 12/17	789.45	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Tampa Electric Company		
1/4/2018		
221002915736 12/17		
6233 Colmar PL -Irrigation 12/17		
211.29	
Tampa Electric Company		1/4/2018		Summary Bill 12/17		Summary Bill 12/17		7,469.02	
Erin McCormick Law, P.A.		1/8/2018		10174		Legal Services 12/17		2,681.90	
						
Total 001 - General Fund		
51,679.14	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Castle Management, LLC		
10/27/2017		
PREIM10-27-187		
Payroll - Period 10/07/17 - 10/20/17		
4,852.62	
Castle Management, LLC		11/10/2017		PREIM11-10-166		Payroll - Period 10/21/17 - 11/03/17		3,096.83	
Castle Management, LLC		11/22/2017		PREIM11-22-169		Payroll - Period 11/04/17 - 11/17/17		4,682.21	
Castle Management, LLC		12/8/2017		PREIM12-08-171		Payroll - Period 11/18/17 - 12/01/17		5,376.21	
Nu Vista Foods Group, Inc.		12/20/2017		WC 12201739		Cafe Food/Beverages/Supplies 12/17		359.18	
Castle Management, LLC		12/22/2017		PREIM12-22-171		Payroll - Period 12/02/17 - 12/15/17		4,966.86	
Sysco West Coast Florida, Inc.		12/27/2017		WC 137629593		Cafe Food/Beverages/Supplies 12/17		621.32	
Florida Department of Revenue		12/31/2017		WC Sales Tax 12/17		Sales Tax Payable 12/17		761.49	
						
Total 400 - Enterprise Fund		
24,716.72	

Report Total								
76,395.86	

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

Construction & Cost of Issuance Account Activity Through December 31, 2017	

Inflows:	
Debt Proceeds		
$	8,681,222.33		
	Underwriters Discount	213,300.00		
		Total Bond Proceeds:	8,894,522.33		
	
Interest Earnings	
20.86		
	Transfer from Revenue Account	7,022.23		
	Transfer from Reserve Account	6,225.91		
		Total Inflows:	$	8,907,791.33		

Outflows:					
Requisition	Requisition		Status with Trustee	
Date	Number	Contractor	Amount	As of 12/31/17	

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 December 31, 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)	Cleared	
11/30/17	259	Onsight Signage	(716.00)	Cleared	
		Total Requisitions:	(8,392,981.85)		
		
Total Outflows:	
(8,902,590.72)		

Construction Account Balance at December 31, 2017	

$	5,200.61		

* 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 December 31, 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 12/31/17	

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 December 31, 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 December 31, 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 December 31, 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 December 31, 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)	Cleared	
		Total Construction Requisitions:	(19,513,044.27)		
		
Total Outflows:	
(19,513,044.27)		

Series 2014 Custody Account Balance at December 31, 2017	
$	1,684.39		

Waterset North Community Development District Notes to Unaudited Financial Statements December 31, 2017

Balance Sheet

Trust statement activity has been recorded through 12/31/17.
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 – Payment for Invoice #FY17-18 totaling $125,448.42 was received in January 2018.
General Fund – Payments for Invoice #435-18-01 totaling $6,634.35 was received in January 2018.
General Fund – Payment for Invoice #OMR1017-3 totaling $237.43 was received in January 2018.
General Fund – Payment for Invoice #OMR1117-2 totaling $201.00 was received in January 2018.
Debt Service Fund 200 – Payment for Invoice #FY17-18 totaling $46,800.23 was received in January 2018.
Debt Service Fund 201 – Payment for Invoice #FY17-18 totaling $51,272.74 was received in January 2018.
Debt Service Fund 201 – Payment for Invoice #435-18-01 totaling $11,211.30 was received in January 2018.
Enterprise Fund – Payment for Invoice #Cafe 1117-1 totaling $761.57 was received in January 2018.
Enterprise Fund – Payment for Invoice #Cafe 1217-1 totaling $524.57 was received in January 2018.