Waterset North Community Development District

Financial Statements (Unaudited)

February 28, 2019

Prepared by: Rizzetta & Company, Inc.

watersetnorthcdd.org rizzetta.com

Waterset North Community Development District
Balance Sheet As of 2/28/2019
(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	397,912		0		0		0		20,396		418,308		0		0	
Cash On Hand	0		0		0		0		300		300		0		0	
Investments	757,323		0		2,095,409		13,920		0		2,866,652		0		0	
Investments - Reserves	0		115,935		0		0		0		115,935		0		0	
Accounts Receivable	83,859		0		115,940		0		1,858		201,657		0		0	
Accounts Receivable - Other	225		0		0		0		0		225		0		0	
Prepaid Expenses	0		0		0		0		0		0		0		0	
Deposits	18,561		0		0		0		500		19,061		0		0	
Due From Other Funds	0		0		0		0		900		900		0		0	
Amount Available in Debt Service	0		0		0		0		0		0		0		2,211,348	
Amount To Be Provided Debt Service	0		0		0		0		0		0		0		14,483,652	
Fixed Assets	0		0		0		0		0		0		55,785,767		0	
Total Assets	 	1,257,880		 	115,935		 	2,211,348		 	13,920		 	23,954		 	3,623,038		     55,785,767		     16,695,000	

Liabilities																
Accounts Payable	17,868		0		0		6,195		10,893		34,956		0		0	
Retainage Payable	0		0		0		0		0		0		0		0	
Accrued Expenses Payable	10,908		0		0		0		5,129		16,037		0		0	
Other Current Liabilities	0		0		0		0		0		0		0		0	
Deposits	0		0		0		0		0		0		0		0	
Due To Other Funds	900		0		0		0		0		900		0		0	
Revenue Bonds Payable--Long Term	0		0		0		0		0		0		0		16,695,000	
Capital Lease Obligation	0		0		0		0		0		0		0		0	
Total Liabilities	29,677		0		0		6,195		16,022		51,893		0		16,695,000	

Fund Equity & Other Credits																
Beginning Fund Balance	357,023		62,953		1,845,881		6,247		7,835		2,279,938		55,785,767		0	
Net Change in Fund Balance	871,181		52,982		365,468		1,478		98		1,291,207		0		0	
Total Fund Equity & Other Credits	1,228,203		115,935		2,211,348		7,725		7,933		3,571,145		55,785,767		0	

Total Liabilities & Fund Equity	
 	1,257,880		
 	115,935		
 	2,211,348		
 	13,920		
 	23,954		
 	3,623,038		
     55,785,767		
     16,695,000	

See Notes to Unaudited Financial Statements

Revenues
Interest Earnings
Interest Earnings	0	0	1,164	1,164	0.00%	
Special Assessments						
Tax Roll	1,481,330	1,481,330	1,490,774	9,444	(0.63)%	
Off Roll	31,451	31,451	31,451	0	0.00%	
Contributions From Private Sources						
Developer Contributions	32,928	13,720	13,720	0	58.33%	
Other Miscellaneous Revenues						
Miscellaneous	0		0		665		665		0.00%	
Total Revenues	1,545,709		1,526,501		1,537,774		11,273		0.51%	

Expenditures
Legislative
Supervisor Fees	9,600	4,000	3,000	1,000	68.75%	
Financial & Administrative						
Administrative Services	4,800	2,000	2,000	0	58.33%	
District Management	24,180	10,075	10,075	0	58.33%	
District Engineer	2,364	985	0	985	100.00%	
Disclosure Report	6,000	6,000	6,000	0	0.00%	
Trustee Fees	7,000	5,421	5,421	(0)	22.55%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Financial & Revenue Collections	5,000	2,083	2,083	0	58.33%	
Accounting Services	18,000	7,500	7,500	0	58.33%	
Auditing Services	3,270	0	0	0	100.00%	
Arbitrage Rebate Calculation	1,000	500	500	0	50.00%	
Public Officials Liability Insurance	2,750	2,750	2,500	250	9.09%	
Legal Advertising	500	208	0	208	100.00%	
Dues, Licenses & Fees	525	175	532	(357)	(1.33)%	
Miscellaneous Fees	0	0	500	(500)	0.00%	
Website Hosting, Maintenance, Backup	2,100	875	875	0	58.33%	
Legal Counsel						
District Counsel	20,000	8,333	11,472	(3,139)	42.63%	
Security Operations						
Security Services and Patrols	70,000	29,167	22,725	6,442	67.53%	
Electric Utility Services						
Utility Services	10,000	4,167	5,210	(1,044)	47.89%	
Utility - Recreation Facilities	22,000	9,167	9,459	(292)	57.00%	
Street Lights	75,000	31,250	117	31,133	99.84%	

Gas Utility Services
Utility - Recreation Facilities	14,000	5,833	7,810	(1,977)	44.21% Garbage/Solid Waste Control
Services

Garbage - Recreation Facility	5,500	2,292	3,030	(739)	44.90%	
Water-Sewer Combination Services Utility Services	
8,000	
3,333	
2,746	
587	
65.67%	
Utility - Reclaimed	15,000	6,250	9,098	(2,848)	39.34%	
Stormwater Control						
Lake/Pond Bank Maintenance	5,000	2,083	1,097	986	78.06%	
Aquatic Maintenance	47,520	19,800	20,935	(1,135)	55.94%	
Wetland Monitoring & Maintenance	7,500	3,125	1,350	1,775	82.00%	
Wetland Maintenance	5,000	2,083	0	2,083	100.00%	
Aquatic Plant Enhancement	5,000	2,083	0	2,083	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	6,072	3,928	39.28%	
Entry & Walls Maintenance	1,000	417	295	122	70.50%	
Landscape Maintenance	700,000	291,667	259,137	32,530	62.98%	
Irrigation Repairs	15,000	6,250	4,837	1,413	67.75%	
Landscape Replacement Plants, Shrubs, Trees	35,000	14,583	19,574	(4,990)	44.07%	
Landscape Mulch	85,000	35,417	60,280	(24,863)	29.08%	
Field Operations	9,000	3,750	3,750	0	58.33%	
Fire Ant Treatment	3,200	1,333	0	1,333	100.00%	
Road & Street Facilities						
Sidewalk Repair & Maintenance	1,000	417	0	417	100.00%	
Street Sign Repair & Replacement	3,000	1,250	0	1,250	100.00%	
Parks & Recreation						
Management Contract	155,000	64,583	59,726	4,857	61.46%	
Vehicle Maintenance	1,500	625	80	545	94.65%	
Fitness Equipment Maintenance & Repairs	3,000	1,250	145	1,105	95.16%	
Pest Control	1,500	625	1,300	(675)	13.33%	
Pool Permits	1,000	0	0	0	100.00%	
Facility A/C & Heating Maintenance & Repair	4,000	1,667	1,585	81	60.36%	
Pool Service Contract	18,000	7,500	7,500	0	58.33%	

Pool Repairs	8,000	3,333	0	3,333	100.00%	
Maintenance & Repairs	10,000	4,167	7,075	(2,909)	29.24%	
Telephone, Fax, Internet	11,940	4,975	5,061	(86)	57.61%	
Clubhouse - Facility Janitorial Service	23,700	9,875	9,875	0	58.33%	
Clubhouse - Facility Janitorial Supplies	3,000	1,250	76	1,174	97.46%	
Window Cleaning	5,308	2,212	1,622	590	69.44%	
Computer Support, Maintenance & Repair	500	208	0	208	100.00%	
Security System Monitoring & Maintenance	3,500	1,458	1,085	374	69.01%	
Furniture Repair/Replacement	4,000	1,667	0	1,667	100.00%	
Clubhouse Miscellaneous Expense	3,000	1,250	3,017	(1,767)	(0.55)%	
Trail/Bike Path Maintenance	1,500	625	0	625	100.00%	
Playground Equipment & Maintenance	5,000	2,083	1,925	158	61.50%	
Access Control Maintenance & Repair	2,500	1,042	6,440	(5,398)	(157.60)%	
Athletic/Park Court/Field Repairs	1,500	625	0	625	100.00%	
Office Supplies	2,000	833	79	755	96.06%	
Facility Funding	106,474	44,364	44,364	0	58.33%	
Contingency						
Miscellaneous Contingency	9,626		4,011		0		4,011		100.00%	
Total Expenditures	1,672,080		724,574		666,594		57,980		60.13%	

Excess of Revenue Over (Under) Expenditures	
(126,371)		
801,927		
871,181		
69,254		
789.38%	

Other Financing Sources (Uses)										
Carry Forward Fund Balance	126,371		126,371		0		(126,371)		100.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		928,298		871,181		(57,117)		0.00%	

Fund Balance, Beginning of Period										
	0		0		357,023		357,023		0.00%	
Fund Balance, End of Period	 	0		 	928,298		 	1,228,203		 	299,905		 	0.00%	

Tax Roll	52,493		52,493		0		0.00%	
Total Revenues	52,493		52,982		489		0.93%	

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		
52,982		
52,982		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
52,982		
52,982		
0.00%	

Fund Balance, Beginning of Period								
	0		62,953		62,953		0.00%	
Fund Balance, End of Period	 	0		 	115,935		 	115,935		 	0.00%	

Tax Roll	490,598		493,618		3,020		0.61%	
Total Revenues	490,598		497,180		6,582		1.34%	

Expenditures								
Debt Service								
Interest	270,598		136,924		133,674		49.39%	
Principal	220,000		0		220,000		100.00%	
Total Expenditures	490,598		136,924		353,674		72.09%	

Excess of Revenue Over (Under) Expenditures	
0		
360,256		
360,256		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
360,256		
360,256		
0.00%	

Fund Balance, Beginning of Period								
	0		413,727		413,727		0.00%	
Fund Balance, End of Period	 	0		 	773,983		 	773,983		 	0.00%	

201 - Debt Service Fund S2014 From 10/1/2018 Through 2/28/2019 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		10,348		10,348		0.00%	
Special Assessments								
Tax Roll	678,010		682,183		4,173		0.61%	
Off Roll	26,601		26,601		0		0.00%	
Total Revenues	704,611		719,133		14,522		2.06%	

Expenditures								
Debt Service								
Interest	529,611		271,856		257,755		48.66%	
Principal	175,000		430,000		(255,000)		(145.71)%	
Total Expenditures	704,611		701,856		2,755		0.39%	

Excess of Revenue Over (Under) Expenditures	
0		
17,276		
17,276		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		(12,064)		(12,064)		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		5,212		5,212		0.00%	

Fund Balance, Beginning of Period								
	0		1,432,154		1,432,154		0.00%	
Fund Balance, End of Period	 	0		 	1,437,366		 	1,437,366		 	0.00%	

301 - Capital Projects Fund S2014 From 10/1/2018 Through 2/28/2019 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings								
Interest Earnings	0		91		91		0.00%	
Total Revenues	0		91		91		0.00%	

Expenditures
Other Physical Environment								
Improvements Other Than Buildings	0		10,677		(10,677)		0.00%	
Total Expenditures	0		10,677		(10,677)		0.00%	

Excess of Revenue Over (Under) Expenditures	
0		
(10,586)		
(10,586)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		12,064		12,064		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		1,478		1,478		0.00%	

Fund Balance, Beginning of Period								
	0		6,247		6,247		0.00%	
Fund Balance, End of Period	 	0		 	7,725		 	7,725		 	0.00%	

400 - Enterprise Fund
From 10/1/2018 Through 2/28/2019
(In Whole Numbers)

Annual Budget

Percent Annual Budget
YTD Budget	YTD Actual	YTD Variance	Remaining

 	 	 	 	

Revenues
Other Miscellaneous Revenues
Food	80,376		33,490		35,691		2,201		55.59%	
Beverages	25,000		10,417		7,737		(2,680)		69.05%	
Alcoholic Beverages	16,000		6,667		3,929		(2,738)		75.44%	
Builder Relations	7,000		2,917		3,041		124		56.56%	
Facility Funding	106,474		44,364		44,364		0		58.33%	
Total Revenues	234,850		97,854		94,761		(3,093)		59.65%	

Expenditures
Financial & Administrative
Bank Fees	8,000	3,333	4,274	(940)	46.57%	
Dues, Licenses & Fees	500	250	277	(27)	44.60%	
Miscellaneous Fees	100	42	0	42	100.00%	
Parks & Recreation						
Management Contract	155,000		64,583		52,387		12,196		66.20%	
Cafe Marketing & Consulting	1,000		417		1,065		(649)		(6.51)%	
Maintenance & Repairs	2,500		1,042		1,100		(58)		56.00%	
Facility Supplies	12,000		5,000		5,419		(419)		54.84%	
Food	40,000		16,667		21,400		(4,734)		46.49%	
Beverage	15,000		6,250		8,170		(1,920)		45.53%	
Computer Support, Maintenance & Repair	250		104		503		(399)		(101.21)%	
Office Supplies	500		208		68		140		86.36%	
Total Expenditures	234,850		97,896		94,663		3,233		59.69%	

Excess of Revenue Over (Under) Expenditures	
0		
(42)		
98		
139		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
(42)		
98		
139		
0.00%	

Fund Balance, Beginning of Period										
	0		0		7,835		7,835		0.00%	
Fund Balance, End of Period	 	0		 	(42)		 	7,933		 	7,975		 	0.00%	

Waterset North CDD Investment Summary February 28, 2019

Balance as of
Account	Investment	February 28, 2019

The Bank of Tampa	Business Money Market	$	248,254	
The Bank of Tampa ICS Program:				
Bremer Bank, National Association	Money Market		134,391	
Mutual of Omaha Bank	Money Market		129,361	
United Bank	Money Market		245,317	

Total General Fund Investments      $	757,323 

The Bank of Tampa ICS Program:
Mutual of Omaha Bank	Money Market

$	115,935

Total Reserve Fund Investments     $	115,935 

US Bank Series 2014 Revenue	First American Treasury Obligation Fund Class Z	$	632,035	
US Bank Series 2014 Reserve	First American Treasury Obligation Fund Class Z		722,638	
US Bank Series 2014 Prepayment	First American Treasury Obligation Fund Class Z		4,259	
US Bank Series 2017A-1 Reserve	First American Government Obligation Fund Class Y		173,793	
US Bank Series 2017A-1 Prepayment	First American Government Obligation Fund Class Y		1,885	
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		488,774	

Total Debt Service Fund Investments     $	2,095,409 

US Bank Series 2014 Acquisition & Construc First American Treasury Obligation Fund Class Z	$	13,920

Total Capital Project Fund Investments     $	13,920 

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2018		
Hillsborough County Tax Collector		
FY18-19		
73,457.53	
10/1/2018		NNP - Southbend II, LLC		435-19-01		7,862.80	
12/26/2018		Waterset Homeowners Association, Inc.		OMR1218-3		1,036.65	
2/1/2019		Waterset Central CDD		OMR0119-1		1,502.06	
				
Total 001 - General Fund		
83,859.04	

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Hillsborough County Tax Collector	FY18-19	37,505.73

Total 200 - Debt Service Fund S2017

37,505.73

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2018		
Hillsborough County Tax Collector		
FY18-19		
51,833.21	
10/1/2018		NNP - Southbend II, LLC		435-19-01		26,600.96	
				
Total 201 - Debt Service Fund S2014		
78,434.17	

Invoice Date		Customer Name		Invoice Number	Current Balance	

6/30/2018		
NNP - Southbend II, LLC		
Cafe0618-1	
434.41	
1/31/2019		NNP - Southbend II, LLC		Cafe0119-1	442.79	
2/28/2019		NNP - Southbend II, LLC		Cafe0219-1	980.84	
				
Total 400 - Enterprise Fund	
1,858.04	

Report Balance	201,656.98

Vendor Name	Invoice Date	Invoice Number	Invoice Description	Current Balance

Staples Advantage	9/28/2018	3391260143	Facility Supplies 09/18	(16.06)	
Staples Advantage	9/28/2018	3391260144	Facility Supplies 09/18	(0.42)	
Staples Advantage	9/28/2018	3391260145	Facility Supplies 09/18	(5.32)	
Delamere Industries Inc	10/9/2018	1016	Furnish & Install: Relocate Existing Aluminum Gate 10/18	775.00	
Landscape Maintenance Professionals, Inc.	1/5/2019	139481	Replace Rain Sensor 01/19	77.00	
Landscape Maintenance Professionals, Inc.	1/5/2019	139482	Replace Rain Sensor 01/19	115.00	
Landscape Maintenance Professionals, Inc.	1/8/2019	139685	Replace Controller 01/19	67.50	
Landscape Maintenance Professionals, Inc.	1/8/2019	139687	Replace Decoder 01/19	154.00	
Landscape Maintenance Professionals, Inc.	1/9/2019	139731	Replace Valve Box 01/19	85.00	
Landscape Maintenance Professionals, Inc.	2/1/2019	140826A	Addendum #4 Waterset N CDD Paseo Al Mar W 02/19	1,465.00	
Gladiator Pressure Cleaning, Inc.	2/8/2019	14884	Pressure Cleaned Entrance Monuments 02/19	295.00	
Accurate Electronics, Inc	2/15/2019	87456	Repair Various Pedestrian Gate 02/19	790.92	
Landscape Maintenance Professionals, Inc.	2/15/2019	141284	Replace Decoder 02/19	154.00	
Landscape Maintenance Professionals, Inc.	2/16/2019	141291	Replace Valve Box Lid 02/19	30.00	
Hillsborough County BOCC	2/18/2019	0761919834 02/19	6651 Waterset Blvd 02/19	143.71	
VSC Fire & Security, Inc.	2/18/2019	05-991116	Service Call - Repair Pull Station in Cafe Hall 02/19	300.00	
Accurate Electronics, Inc	2/19/2019	87528	Balance Due Repair (3) Pedestira Walk Gates 02/19	1,557.40	
Squeegee Squad	2/19/2019	1830	Clean Cafe Windows 02/19	1,622.00	
Castle Management, LLC	2/22/2019	PREIM02-15-19-209	Payroll - Period 01/26/19-02/08/19	4,803.51	
G4S Secure Solutions Inc.	2/24/2019	10355354	Security Services 02/18/19-02/24/19	1,116.08	
C&C Painting Contractors, Inc.	2/25/2019	7453	Paint Lakeside Amenity Exterior Wall 02/19	495.00	
Hillsborough County BOCC	3/1/2019	0849701035 02/19	6213 Covington Garden Drive 02/19	41.67	
Hillsborough County BOCC	3/1/2019	2901278101 02/19	7024 Sail View Lane 02/19	259.34	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Hillsborough County BOCC		
3/1/2019		
4195480573 02/19		
6500 Maiden Sea Drive 02/19		
4.42	
Hillsborough County BOCC		3/1/2019		9581654736 02/19		Summary Bill 02/19		1,170.43	
Accurate Electronics, Inc		3/5/2019		88122 CM		Completion of Repairs Access Control System 02/19		(741.73)	
Tampa Electric Company		3/5/2019		Summary Bill 02/19		Summary Bill 02/19		3,110.01	
						
Total 001 - General Fund		
17,868.46	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Ballenger & Company, Inc.		
2/5/2019		
CR290 Ballanger		
CR290-291 S2014		
885.00	
Ballenger & Company, Inc.		2/5/2019		CR291 Ballenger		CR290-291 S2014		5,310.00	
						
Total 301 - Capital Projects Fund S2014		
6,195.00	

Vendor Name	Invoice Date	Invoice Number	Invoice Description	Current Balance

Culligan Water Conditioning	4/11/2018	WC 1330718 CM	Drinking Water Refund 04/18	(41.00)	
Culligan Water Conditioning	5/11/2018	WC 1353757	Drinking Water 05/18	67.50	
Culligan Water Conditioning	5/29/2018	WC 1039923 CM	Drinking Water Refund 05/18	(22.00)	
Culligan Water Conditioning	5/29/2018	WC 1279123 CM	Drinking Water Refund 05/19	(47.25)	
Culligan Water Conditioning	6/5/2018	WC 1383400	Drinking Water 06/18	46.50	
Culligan Water Conditioning	6/12/2018	WC 1382707	Drinking Water 06/18	54.00	
Culligan Water Conditioning	6/26/2018	WC 1389620	Drinking Water 06/18	60.75	
Culligan Water Conditioning	7/12/2018	WC 1414121	Drinking Water 07/18	74.25	
Culligan Water Conditioning	7/26/2018	WC 1420433	Drinking Water 07/18	74.25	
Culligan Water Conditioning	8/10/2018	WC 1445966	Drinking Water 08/18	81.00	
Culligan Water Conditioning	8/24/2018	WC 1453871	Drinking Water 08/18	74.25	
Culligan Water Conditioning	9/24/2018	WC 1481853	Drinking Water 09/18	28.00	
Culligan Water Conditioning	9/26/2018	WC 1479245	Drinking Water 09/18	75.25	
Culligan Water Conditioning	12/12/2018	WC 1594659	Drinking Water 12/18	41.50	
Culligan Water Conditioning	12/27/2018	WC 1603235	Drinking Water 12/18	28.00	
Nu Vista Foods Group, Inc.	2/5/2019	WC 02051957	Cafe Food/Beverages/Supplies 02/19	555.77	
Sysco West Coast Florida, Inc.	2/6/2019	WC 237338484	Supplies 02/19	265.33	
Chris's Plumbing Service, Inc.	2/18/2019	213846	Snake Sink Lines to Clear Drains 02/19	164.95	
Sysco West Coast Florida, Inc.	2/20/2019	WC 237364110	Cafe Food/Beverages/Supplies 02/19	948.75	
Nu Vista Foods Group, Inc.	2/20/2019	WC 02201996CM	Returned Product Invoice 02181944 02/19	(10.00)	
Castle Management, LLC	2/22/2019	PREIM02-15-19-209	Payroll - Period 01/26/19-02/08/19	6,141.97	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Nu Vista Foods Group, Inc.		
2/25/2019		
WC 02251945		
Cafe Food/Beverages/Supplies 02/19		
399.25	
Nu Vista Foods Group, Inc.		2/27/2019		WC 02271992 CM		Cafe Food/Beverages/Supplies 02/19		(6.00)	
Sysco West Coast Florida, Inc.		2/27/2019		WC 237377587		Cafe Food/Beverages/Supplies 02/19		719.58	
Florida Department of Revenue		2/28/2019		39-8015954075-8 02/19		Sales Tax Payable 02/19		1,118.11	
						
Total 400 - Enterprise Fund		
10,892.71	

Report Total								
34,956.17	

Inflows:	Debt Proceeds	$	8,681,222.33		
	Underwriters Discount	213,300.00		
	Total Bond Proceeds:	8,894,522.33		
	
Interest Earnings	
189.37		
	Transfer from Revenue Account	12,726.82		
	Transfer from Reserve Account	20,569.99		
	Total Inflows:	$	8,928,008.51		

Outflows:				
Requisition Date	Requisition
Number	Contractor	
Amount	Status with Trustee As of 02/28/19	

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	
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	
05/31/18	276	Ballenger & Company, Inc.	(5,140.61)	Cleared	
09/30/18	286	Ballenger & Company, Inc.	(1,770.00)	Cleared	
09/30/18	287	Erin McCormick Law	(105.00)	Cleared	
11/30/18	288	Erin McCormick Law	(3,115.00)	Cleared	
11/30/18	289	Scarola & Associates Engineering	(1,366.69)	Cleared	
02/28/19	290	Ballenger & Company, Inc.	(885.00)	AP	
02/28/19	291	Ballenger & Company, Inc.	(5,310.00)	AP	

Total Requisitions:	(8,410,674.15)

Total Outflows:	(8,920,283.02)

Construction Account Balance at February 28, 2019	$	7,725.49

* 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 Notes to Unaudited Financial Statements February 28, 2019

Balance Sheet

Trust statement activity has been recorded through 02/28/19.
See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org for Municipal Disclosures and Market Data.
For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund.

Summary A/R Ledger – Payment Terms

Payment terms for landowner assessments are (a) defined in the FY18-19 Assessment Resolution adopted by the Board of Supervisors, (b) pursuant to Florida Statutes, Chapter 197 for assessments levied via the county tax roll.

Summary A/R Ledger – Subsequent Collections

General Fund – Payment for Invoice #OMR0119-1 totaling $1,502.06 was received in March 2019.
Debt Service Fund 200 – Payment for Invoice #FY18-19 totaling $7,249.12 was received in March 2019.
Debt Service Fund 201 – Payment for Invoice #FY18-19 totaling $10,018.33 was received in March 2019.