Waterset North Community Development District

Financial Statements (Unaudited)

May 31, 2019

Prepared by: Rizzetta & Company, Inc.

watersetnorthcdd.org rizzetta.com

Waterset North Community Development District
Balance Sheet As of 5/31/2019
(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	152,464		0		0		0		15,814		168,278		0		0	
Cash On Hand	0		0		0		0		300		300		0		0	
Investments	670,423		0		1,568,617		10,216		0		2,249,256		0		0	
Investments - Reserves	0		116,521		0		0		0		116,521		0		0	
Accounts Receivable	23,246		0		32,076		0		1,518		56,840		0		0	
Accounts Receivable - Other	1,641		0		0		0		0		1,641		0		0	
Prepaid Expenses	1,571		0		0		0		0		1,571		0		0	
Deposits	18,573		0		0		0		500		19,073		0		0	
Due From Other Funds	0		0		0		0		386		386		0		0	
Amount Available in Debt Service	0		0		0		0		0		0		0		1,600,693	
Amount To Be Provided Debt Service	0		0		0		0		0		0		0		14,874,307	
Fixed Assets	0		0		0		0		0		0		55,790,403		0	
Total Assets	 	867,918		 	116,521		 	1,600,693		 	10,216		 	18,518		 	2,613,865		 	55,790,403		 	16,475,000	

Liabilities																
Accounts Payable	61,345		0		0		3,030		13,677		78,051		0		0	
Retainage Payable	0		0		0		0		0		0		0		0	
Accrued Expenses Payable	1,707		0		0		0		0		1,707		0		0	
Other Current Liabilities	0		0		0		0		0		0		0		0	
Due To Other Funds	386		0		0		0		0		386		0		0	
Revenue Bonds Payable--Long Term	0		0		0		0		0		0		0		16,475,000	
Total Liabilities	63,438		0		0		3,030		13,677		80,144		0		16,475,000	

Fund Equity & Other Credits																
Beginning Fund Balance	357,023		62,953		1,845,881		6,247		7,835		2,279,938		55,790,403		0	
Net Change in Fund Balance	447,457		53,568		(245,188)		940		(2,994)		253,783		0		0	
Total Fund Equity & Other Credits	804,480		116,521		1,600,693		7,187		4,841		2,533,722		55,790,403		0	

Total Liabilities & Fund Equity	
 	867,918		
 	116,521		
 	1,600,693		
 	10,216		
 	18,518		
 	2,613,865		
 	55,790,403		
 	16,475,000	

See Notes to Unaudited Financial Statements.

Revenues
Interest Earnings
Interest Earnings	0	0	4,264	4,264	0.00%	
Special Assessments						
Tax Roll	1,481,330	1,481,330	1,490,813	9,483	(0.64)%	
Off Roll	31,451	31,451	31,451	0	0.00%	
Contributions From Private Sources						
Developer Contributions	32,928	21,952	21,952	0	33.33%	
Other Miscellaneous Revenues						
Miscellaneous	0		0		843		843		0.00%	
Total Revenues	1,545,709		1,534,733		1,549,323		14,590		(0.23)%	

Expenditures
Legislative
Supervisor Fees	9,600	6,400	5,000	1,400	47.91%	
Financial & Administrative						
Administrative Services	4,800	3,200	3,200	0	33.33%	
District Management	24,180	16,120	16,120	0	33.33%	
District Engineer	2,364	1,576	0	1,576	100.00%	
Disclosure Report	6,000	6,000	6,000	0	0.00%	
Trustee Fees	7,000	7,000	7,621	(621)	(8.87)%	
Assessment Roll	5,000	5,000	5,000	0	0.00%	
Financial & Revenue Collections	5,000	3,333	3,333	0	33.33%	
Accounting Services	18,000	12,000	12,000	0	33.33%	
Auditing Services	3,270	0	3,270	(3,270)	0.00%	
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	333	0	333	100.00%	
Dues, Licenses & Fees	525	175	911	(736)	(73.52)%	
Miscellaneous Fees	0	0	500	(500)	0.00%	
Website Hosting, Maintenance, Backup	2,100	1,400	1,400	0	33.33%	
Legal Counsel						
District Counsel	20,000	13,333	25,160	(11,826)	(25.79)%	
Security Operations						
Security Services and Patrols	70,000	46,667	37,582	9,084	46.31%	
Electric Utility Services						
Utility Services	10,000	6,667	7,945	(1,278)	20.54%	
Utility - Recreation Facilities	22,000	14,667	14,964	(297)	31.98%	
Street Lights	75,000	50,000	3,579	46,421	95.22%	

Gas Utility Services
Utility - Recreation Facilities	14,000	9,333	9,848	(514)	29.65% Garbage/Solid Waste Control
Services

Garbage - Recreation Facility	5,500	3,667	5,122	(1,455)	6.87%	
Water-Sewer Combination Services Utility Services	
8,000	
5,333	
4,565	
768	
42.93%	
Utility - Reclaimed	15,000	10,000	14,755	(4,755)	1.63%	
Stormwater Control						
Lake/Pond Bank Maintenance	5,000	3,333	1,097	2,236	78.06%	
Aquatic Maintenance	47,520	31,680	33,715	(2,035)	29.05%	
Wetland Monitoring & Maintenance	7,500	5,000	2,700	2,300	64.00%	
Wetland Maintenance	5,000	3,333	2,162	1,171	56.76%	
Aquatic Plant Enhancement	5,000	3,333	4,801	(1,468)	3.98%	
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	667	295	372	70.50%	
Landscape Maintenance	700,000	466,667	477,919	(11,252)	31.72%	
Irrigation Repairs	15,000	10,000	11,904	(1,904)	20.64%	
Landscape Replacement Plants, Shrubs, Trees	35,000	23,333	19,918	3,416	43.09%	
Landscape Mulch	85,000	56,667	60,280	(3,613)	29.08%	
Field Operations	9,000	6,000	6,000	0	33.33%	
Fire Ant Treatment	3,200	2,133	0	2,133	100.00%	
Road & Street Facilities						
Sidewalk Repair & Maintenance	1,000	667	0	667	100.00%	
Street Sign Repair & Replacement	3,000	2,000	0	2,000	100.00%	
Parks & Recreation						
Management Contract	155,000	103,333	116,901	(13,568)	24.57%	
Vehicle Maintenance	1,500	1,000	137	863	90.85%	
Fitness Equipment Maintenance & Repairs	3,000	2,000	145	1,855	95.16%	
Pest Control	1,500	1,000	1,864	(864)	(24.26)%	
Pool Permits	1,000	0	0	0	100.00%	
Facility A/C & Heating Maintenance & Repair	4,000	2,667	1,865	801	53.36%	
Pool Service Contract	18,000	12,000	12,000	0	33.33%	

Pool Repairs	8,000	5,333	2,582	2,751	67.72%	
Maintenance & Repairs	10,000	6,667	13,807	(7,141)	(38.07)%	
Telephone, Fax, Internet	11,940	7,960	8,151	(191)	31.73%	
Clubhouse - Facility Janitorial Service	23,700	15,800	14,714	1,086	37.91%	
Clubhouse - Facility Janitorial Supplies	3,000	2,000	1,420	580	52.66%	
Window Cleaning	5,308	3,539	1,622	1,917	69.44%	
Computer Support, Maintenance & Repair	500	333	0	333	100.00%	
Security System Monitoring & Maintenance	3,500	2,333	1,359	974	61.16%	
Furniture Repair/Replacement	4,000	2,667	0	2,667	100.00%	
Clubhouse Miscellaneous Expense	3,000	2,000	6,697	(4,697)	(123.24)%	
Trail/Bike Path Maintenance	1,500	1,000	0	1,000	100.00%	
Playground Equipment & Maintenance	5,000	3,333	1,925	1,408	61.50%	
Access Control Maintenance & Repair	2,500	1,667	11,579	(9,912)	(363.15)%	
Athletic/Park Court/Field Repairs	1,500	1,000	0	1,000	100.00%	
Office Supplies	2,000	1,333	92	1,241	95.40%	
Facility Funding	106,474	70,983	62,110	8,873	41.66%	
Contingency						
Miscellaneous Contingency	9,626		6,417		4,500		1,917		53.25%	
Total Expenditures	1,672,080		1,129,356		1,101,866		27,490		34.10%	

Excess of Revenue Over (Under) Expenditures	
(126,371)		
405,377		
447,457		
42,080		
454.08%	

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		531,748		447,457		(84,291)		0.00%	

Fund Balance, Beginning of Period										
	0		0		357,023		357,023		0.00%	
Fund Balance, End of Period	 	0		 	531,748		 	804,480		 	272,732		 	0.00%	

Tax Roll	52,493		52,493		0		0.00%	
Total Revenues	52,493		53,568		1,075		2.05%	

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		
53,568		
53,568		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
53,568		
53,568		
0.00%	

Fund Balance, Beginning of Period								
	0		62,953		62,953		0.00%	
Fund Balance, End of Period	 	0		 	116,521		 	116,521		 	0.00%	

Tax Roll	490,598		493,630		3,032		0.61%	
Total Revenues	490,598		500,835		10,237		2.09%	

Expenditures								
Debt Service								
Interest	270,598		273,849		(3,251)		(1.20)%	
Principal	220,000		220,000		0		0.00%	
Total Expenditures	490,598		493,849		(3,251)		(0.66)%	

Excess of Revenue Over (Under) Expenditures	
0		
6,986		
6,986		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
6,986		
6,986		
0.00%	

Fund Balance, Beginning of Period								
	0		413,727		413,727		0.00%	
Fund Balance, End of Period	 	0		 	420,713		 	420,713		 	0.00%	

201 - Debt Service Fund S2014 From 10/1/2018 Through 5/31/2019 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings
Interest Earnings	0		17,967		17,967		0.00%	
Special Assessments								
Tax Roll	678,010		682,201		4,190		0.61%	
Off Roll	26,601		26,601		0		0.00%	
Total Revenues	704,611		726,769		22,157		3.14%	

Expenditures								
Debt Service								
Interest	529,611		532,844		(3,233)		(0.61)%	
Principal	175,000		430,000		(255,000)		(145.71)%	
Total Expenditures	704,611		962,844		(258,233)		(36.65)%	

Excess of Revenue Over (Under) Expenditures	
0		
(236,075)		
(236,075)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		(16,099)		(16,099)		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		(252,174)		(252,174)		0.00%	

Fund Balance, Beginning of Period								
	0		1,432,154		1,432,154		0.00%	
Fund Balance, End of Period	 	0		 	1,179,980		 	1,179,980		 	0.00%	

301 - Capital Projects Fund S2014 From 10/1/2018 Through 5/31/2019 (In Whole Numbers)

Current Period
Annual Budget	Actual

Budget To Actual Variance

Budget Percent Remaining

 	 	 	

Revenues
Interest Earnings								
Interest Earnings	0		153		153		0.00%	
Total Revenues	0		153		153		0.00%	

Expenditures
Other Physical Environment								
Improvements Other Than Buildings	0		15,312		(15,312)		0.00%	
Total Expenditures	0		15,312		(15,312)		0.00%	

Excess of Revenue Over (Under) Expenditures	
0		
(15,159)		
(15,159)		
0.00%	

Other Financing Sources (Uses)								
Interfund Transfer	0		16,099		16,099		0.00%	
Excess of Rev./Other Sources Over (Under) Expend./Other Uses	0		940		940		0.00%	

Fund Balance, Beginning of Period								
	0		6,247		6,247		0.00%	
Fund Balance, End of Period	 	0		 	7,187		 	7,187		 	0.00%	

400 - Enterprise Fund
From 10/1/2018 Through 5/31/2019
(In Whole Numbers)

Annual Budget

Percent Annual Budget
YTD Budget	YTD Actual	YTD Variance	Remaining

 	 	 	 	

Revenues
Other Miscellaneous Revenues
Food	80,376		53,584		62,868		9,284		21.78%	
Beverages	25,000		16,667		13,710		(2,957)		45.16%	
Alcoholic Beverages	16,000		10,667		7,007		(3,659)		56.20%	
Builder Relations	7,000		4,667		5,855		1,188		16.35%	
Facility Funding	106,474		70,983		62,110		(8,873)		41.66%	
Total Revenues	234,850		156,567		151,550		(5,017)		35.47%	

Expenditures
Financial & Administrative
Bank Fees	8,000	5,333	7,048	(1,715)	11.89%	
Dues, Licenses & Fees	500	250	277	(27)	44.60%	
Miscellaneous Fees	100	67	0	67	100.00%	
Parks & Recreation						
Management Contract	155,000		103,333		87,261		16,073		43.70%	
Cafe Marketing & Consulting	1,000		667		1,065		(399)		(6.51)%	
Maintenance & Repairs	2,500		1,667		2,817		(1,151)		(12.69)%	
Facility Supplies	12,000		8,000		8,793		(793)		26.72%	
Food	40,000		26,667		33,062		(6,395)		17.34%	
Beverage	15,000		10,000		13,636		(3,636)		9.09%	
Computer Support, Maintenance & Repair	250		167		503		(336)		(101.21)%	
Office Supplies	500		333		81		252		83.73%	
Total Expenditures	234,850		156,483		154,544		1,939		34.19%	

Excess of Revenue Over (Under) Expenditures	
0		
83		
(2,994)		
(3,077)		
0.00%	

Excess of Rev./Other Sources Over (Under) Expend./Other Uses	
0		
83		
(2,994)		
(3,077)		
0.00%	

Fund Balance, Beginning of Period										
	0		0		7,835		7,835		0.00%	
Fund Balance, End of Period	 	0		 	83		 	4,841		 	4,758		 	0.00%	

Waterset North CDD Investment Summary May 31, 2019

Balance as of
Account	Investment	May 31, 2019

The Bank of Tampa	Business Money Market The Bank of Tampa ICS Program:

$	248,466

Flushing Bank	Money Market	30
The Huntington National Bank	Money Market	128,891
United Bank	Money Market	245,417
Western Alliance Bank	Money Market	47,619

Total General Fund Investments      $	670,423 

The Bank of Tampa ICS Program:
The Huntington National Bank	Money Market

$	116,363

Western Alliance Bank	Money Market	158
Total Reserve Fund Investments     $	116,521 

US Bank Series 2014 Revenue	First American Treasury Obligation Fund Class Z	$	427,190	
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		4,283	
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		166,803	

Total Debt Service Fund Investments     $	1,568,617 

US Bank Series 2014 Acquisition & Construc First American Treasury Obligation Fund Class Z	$	10,216

Total Capital Project Fund Investments     $	10,216 

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2018		
Hillsborough County Tax Collector		
FY18-19		
19,406.41	
12/26/2018		Waterset Homeowners Association, Inc.		OMR1218-3		1,036.65	
5/1/2019		Waterset Central CDD		OMR0419-1		1,711.30	
5/31/2019		Waterset Central CDD		OMR0519-1		1,091.62	
				
Total 001 - General Fund		
23,245.98	

Invoice Date	Customer Name	Invoice Number	Current Balance

10/1/2018	Hillsborough County Tax Collector	FY18-19	6,207.19

Total 200 - Debt Service Fund S2017

6,207.19

Invoice Date		Customer Name		Invoice Number		Current Balance	

10/1/2018		
Hillsborough County Tax Collector		
FY18-19		
8,578.41	
10/1/2018		NNP - Southbend II, LLC		435-19-01		17,290.62	
				
Total 201 - Debt Service Fund S2014		
25,869.03	

Invoice Date		Customer Name		Invoice Number	Current Balance	

5/1/2019		
NNP - Southbend II, LLC		
Cafe0419-1	
675.68	
5/31/2019		NNP - Southbend II, LLC		Cafe0519-1	842.23	
				
Total 400 - Enterprise Fund	
1,517.91	

Report Balance	56,840.11

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)	
VSC Fire & Security, Inc.	11/9/2018	05-969341	Annual Fire Alarm Inspection 11/18	340.00	
Doug Belden, Tax Collector	4/29/2019	CDJX82 19/21	Registration Renewal GEM Car 2 Years FY 19/21	56.95	
Meadow Sales and Marketing Inc.	5/3/2019	2019-214	Employee Shirts 05/19	303.02	
Meadow Sales and Marketing Inc.	5/9/2019	2019-215	Employee Shirts 05/19	445.07	
Karl J. Koudelka	5/10/2019	3905166	(100) CA-Clam Prox & CA-AdBak20 05/19	257.43	
Landscape Maintenance Professionals, Inc.	5/11/2019	143510	Irrigation Repairs 05/19	160.65	
Landscape Maintenance Professionals, Inc.	5/14/2019	143574	OTC Innoculation (116 Injections) for Palm Trees 05/19	2,900.00	
Michael Ball	5/14/2019	MB051419	Board of Supervisors Meeting 05/14/19	200.00	
Paul R Anderson Jr	5/14/2019	PA051419	Board of Supervisors Meeting 05/14/19	200.00	
Derek Bush	5/14/2019	DB051419	Board of Supervisors Meeting 05/14/19	200.00	
TJ Pyche	5/14/2019	TP051419	Board of Supervisors Meeting 05/14/19	200.00	
Landscape Maintenance Professionals, Inc.	5/15/2019	143586	Irrigation Repairs 05/19	154.00	
Landscape Maintenance Professionals, Inc.	5/16/2019	143608	Irrigation Repairs 05/19	154.00	
Landscape Maintenance Professionals, Inc.	5/17/2019	143635	Irrigation Repairs 05/19	154.00	
Landscape Maintenance Professionals, Inc.	5/17/2019	143643	Irrigation Repairs 05/19	462.00	
Landscape Maintenance Professionals, Inc.	5/17/2019	143644	Irrigation Repairs 05/19	205.00	
Hillsborough County BOCC	5/17/2019	0761919834 05/19	6651 Waterset Blvd 05/19	381.41	
Erin McCormick Law, P.A.	5/19/2019	10326	General Legal Services 05/19	3,239.57	
G4S Secure Solutions Inc.	5/19/2019	10493708	Security Services 05/13/19-05/19/19	1,116.08	

Vendor Name	Invoice Date	Invoice Number	Invoice Description	Current Balance

Landscape Maintenance Professionals, Inc.	5/23/2019	143693	Irrigation Repairs-Hunter ACC Inner Controller 05/19	1,650.00	
Landscape Maintenance Professionals, Inc.	5/24/2019	143955	Irrigation Repairs 05/19	462.00	
Castle Management, LLC	5/24/2019	PREIM05-24-19-224	Payroll - Period 05/04/19-05/17/19	8,103.21	
De Lage Landen Financial Services, Inc.	5/25/2019	63753369	Cannon Copier Lease 05/19	259.00	
Landscape Maintenance Professionals, Inc.	5/25/2019	143984	Irrigation Repairs 05/19	22.50	
G4S Secure Solutions Inc.	5/26/2019	10510981	Security Services 05/20/19-05/26/19	1,116.08	
Aquatic Systems, Inc.	5/31/2019	0000448134	Planting - Site #40 05/19	4,801.00	
Aquatic Systems, Inc.	5/31/2019	0000448137	Restoration Assessment 05/19	2,162.00	
Castle Management, LLC	5/31/2019	INS-0519-194	Insurance Reimbursement 05/19	946.20	
Landscape Maintenance Professionals, Inc.	5/31/2019	144032	Irrigation Repairs 05/19	35.00	
Landscape Maintenance Professionals, Inc.	5/31/2019	144038	Irrigation Repairs 05/19	35.00	
Landscape Maintenance Professionals, Inc.	5/31/2019	144101	Fertilize St Augustine, Bermuda, Bahia, & Zoysia 05/19	9,491.00	
Landscape Maintenance Professionals, Inc.	5/31/2019	144102	Pest Control 05/19	1,590.00	
Synergy FL	6/1/2019	113750	Security Monitoring - Fitness Center 05/19	54.95	
G4S Secure Solutions Inc.	6/2/2019	10517329	Security Services 05/27/19-06/02/19	2,109.84	
Hillsborough County BOCC	6/3/2019	0849701035 05/19	6213 Covington Garden Drive 05/19	202.79	
Hillsborough County BOCC	6/3/2019	2901278101 05/19	7024 Sail View Lane 05/19	283.00	
Hillsborough County BOCC	6/3/2019	4195480573 05/19	6500 Maiden Sea Drive 05/19	4.66	
Tampa Electric Company	6/4/2019	221006236519 05/19	6398 Paseo Al Mar BL Irrigation 05/19	19.83	
Tampa Electric Company	6/4/2019	221006717294 05/19	6415 Waterset BL 05/19	1,099.93	
Tampa Electric Company	6/4/2019	Summary Bill 05/19	Summary Bill 05/19	2,903.50	
Hillsborough County BOCC	6/5/2019	9581654736 05/19	Summary Bill 05/19	1,810.25	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Castle Management, LLC		
6/7/2019		
PREIM06-07-19-215		
Payroll - Period 05/18/19-05/31/19		
7,531.29	
CIMA Energy Solutions, LLC		6/10/2019		51942128		Gas Sales 05/19		48.51	
Erin McCormick Law, P.A.		6/12/2019		10334		General Legal Services 05/19		3,496.07	
						
Total 001 - General Fund		
61,344.99	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Erin McCormick Law, P.A.		
5/1/2019		
CR293 Erin		
CR293 Series 2014		
693.50	
Erin McCormick Law, P.A.		5/10/2019		CR294 Erin McCormick		CR294 Series 2014		2,336.00	
						
Total 301 - Capital Projects Fund S2014		
3,029.50	

Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	

Pepin		
4/17/2019		
WC 2747565		
Cafe Beverages 04/19		
301.45	
Sysco West Coast Florida, Inc.		5/15/2019		WC 237526074		Cafe Food/Beverages/Supplies 05/19		1,344.36	
Sysco West Coast Florida, Inc.		5/22/2019		WC 237539526 CM		Cafe Food/Beverages/Supplies 05/19		(11.94)	
Castle Management, LLC		5/24/2019		PREIM05-24-19-224		Payroll - Period 05/04/19-05/17/19		4,491.28	
Sysco West Coast Florida, Inc.		5/28/2019		WC 237502290 CM		Cafe Food/Beverages/Supplies 05/19		(44.59)	
Sysco West Coast Florida, Inc.		5/29/2019		WC 237551388		Cafe Food/Beverages/Supplies 05/19		1,038.23	
Johnson Brothers Liquor Co. 1		5/29/2019		WC 1419881		Beverages 05/19		259.20	
Florida Department of Revenue		5/31/2019		39-8015954075-8 05/19		Sales Tax Payable 05/19		1,414.28	
Castle Management, LLC		5/31/2019		INS-0519-194		Insurance Reimbursement 05/19		415.00	
Castle Management, LLC		6/7/2019		PREIM06-07-19-215		Payroll - Period 05/18/19-05/31/19		4,469.38	
						
Total 400 - Enterprise Fund		
13,676.65	

Report Total								
78,051.14	

Inflows:	Debt Proceeds	$	8,681,222.33		
	Underwriters Discount	213,300.00		
	Total Bond Proceeds:	8,894,522.33		
	
Interest Earnings	
251.88		
	Transfer from Revenue Account	12,726.82		
	Transfer from Reserve Account	24,604.27		
	Total Inflows:	$	8,932,105.30		

Outflows:				
Requisition Date	Requisition
Number	Contractor	
Amount	Status with Trustee As of 05/31/19	

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)	Cleared	
02/28/19	291	Ballenger & Company, Inc.	(5,310.00)	Cleared	
03/31/19	292	Erin McCormick Law	(1,606.00)	Cleared	
05/31/19	293	Erin McCormick Law	(693.50)	AP	
05/31/19	294	Erin McCormick Law	(2,336.00)	AP	

Total Requisitions:	(8,415,309.65)

Total Outflows:	(8,924,918.52)

Construction Account Balance at May 31, 2019	$	7,186.78

* 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
May 31, 2019

Balance Sheet

Trust statement activity has been recorded through 05/31/19.
See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org for Municipal Disclosures and Market Data.
For presentation purposes, the Reserves are shown in a separate fund titled Reserve Fund.

Summary A/R Ledger – Payment Terms

Payment terms for landowner assessments are (a) defined in the 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 #FY18-19 in the amount of $19,406.41 was received in June 2019.
General Fund – Payment for Invoice #OMR0419-1 in the amount of $1,711.30 was received in June 2019.
Debt Service Fund 200 – Payment for Invoice #FY18-19 in the amount of $6,207.19 was received in June 2019.
Debt Service Fund 201 – Payment for Invoice #FY18-19 in the amount of $8,578.41 was received in June 2019.
Enterprise Fund – Payment for Invoice #Cafe0419-1 in the amount of $675.68 was received in June 2019.