Del Webb Bexley

Community Development District

Financial Statements

(Unaudited)

December 31, 2018

Prepared by: Rizzetta & Company, Inc.

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Del Webb Bexley Community Development District

Balance Sheet

As of 12/31/2018

(In Whole Numbers)

							Total		General Fixed		General		
			Debt Service		Capital Projects		Governmental		Assets Account		Long-Term Debt		
	General Fund		Fund		Fund		Funds		Group		Account Group		
Assets													
													
Cash In Bank	14,024	0	0	14,024	0	0		
Investments	0	1,154,136	3,470,298	4,624,433	0	0		
Accounts Receivable	0	0	0	0	0	0		
Prepaid Expenses	0	0	0	0	0	0		
Amount Available in Debt Service	0	0	0	0	0	1,154,136		
Amount To Be Provided Debt Service	0	0	0	0	0	9,025,864		
Fixed Assets	0		0		0		0		7,768,864		0		
Total Assets	14,024	1,154,136	3,470,298	4,638,457	7,768,864	10,180,000		
Liabilities													
													
Accounts Payable	226	0	0	226	0	0		
Retainage Payable	0	0	0	0	0	0		
Deferred Revenue	0	0	0	0	0	0		
Accrued Expenses Payable	200	0	0	200	0	0		
Revenue Bonds Payable--Long Term	0		0		0		0		0		10,180,000		
Total Liabilities	426	0	0	426	0	10,180,000		
Fund Equity & Other Credits													
Beginning Fund Balance	0	0	0	0	7,768,864	0		
Net Change in Fund Balance	13,597		1,154,136		3,470,298		4,638,031		0		0		
Total Fund Equity & Other Credits	13,597		1,154,136		3,470,298		4,638,031		7,768,864		0		
Total Liabilities & Fund Equity	14,024	1,154,136	3,470,298	4,638,457	7,768,864	10,180,000		

See Notes to Unaudited Financial Statements

Del Webb Bexley Community Development District

Statement of Revenues and Expenditures

001 - General Fund

From 10/1/2018 Through 12/31/2018

(In Whole Numbers)

									Percent Annual		
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	Budget Remaining		
Revenues											
											
Contributions & Donations From											
Private Sources											
Developer Contributions	212,825		212,825		33,025		(179,800)	84.48%		
											
Total Revenues	212,825		212,825		33,025		(179,800)	84.48%		
Expenditures											
Financial & Administrative											
Administrative Services	4,500	1,125	900	225		80.00%		
District Management	20,100	5,025	5,025	0		75.00%		
District Engineer	12,000	3,000	0	3,000		100.00%		
Disclosure Report	5,000	5,000	0	5,000		100.00%		
Trustees Fees	5,000	5,000	0	5,000		100.00%		
Financial & Revenue Collections	3,600	900	900	0		75.00%		
Assessment Roll	5,000	5,000	0	5,000		100.00%		
Accounting Services	18,000	4,500	3,000	1,500		83.33%		
Auditing Services	6,000	0	0	0		100.00%		
Arbitrage Rebate Calculation	750	750	0	750		100.00%		
Public Officials Liability Insurance	5,000	5,000	2,250	2,750		55.00%		
Legal Advertising	5,000	1,250	295	955		94.09%		
Miscellaneous Mailings	1,500	0	0	0		100.00%		
Dues, Licenses & Fees	175	175	175	0		0.00%		
Miscellaneous Fees	10,000	2,500	0	2,500		100.00%		
Website Hosting, Maintenance,	1,200	300	300	0		75.00%		
Backup											
Legal Counsel											
District Counsel	20,000	5,000	1,655	3,345		91.72%		
Stormwater Control											
Lake/Pond Bank Maintenance	25,000	6,250	0	6,250		100.00%		
Other Physical Environment											
Property & Casualty Insurance	10,000	10,000	4,928	5,072		50.72%		
Landscape Maintenance	25,000	6,250	0	6,250		100.00%		
Contingency											
Miscellaneous Contingency	30,000		7,500		0		7,500		100.00%		
Total Expenditures	212,825		74,525		19,428		55,097		90.87%		
Excess Revenues Over/(Under)	0	138,300	13,597	(124,703)	0.00%		
Expenditures											
											
Fund Balance, End of Period	0	138,300	13,597	(124,703)	0.00%		

See Notes to Unaudited Financial Statements

Del Webb Bexley Community Development District

Statement of Revenues and Expenditures

200 - Debt Service Fund

From 10/1/2018 Through 12/31/2018

(In Whole Numbers)

			Current Period		Budget To	Budget Percent		
	Annual Budget		Actual		Actual Variance	Remaining		
Revenues									
									
Interest Earnings									
Interest Earnings	0		2,075		2,075		0.00%		
Total Revenues	0		2,075		2,075		0.00%		
Excess of Revenues Over/(Under)	0	2,075	2,075		0.00%		
Expenditures									
Other Financing Sources									
									
Debt Proceeds									
Bond Proceeds	0		1,152,581		1,152,581		0.00%		
Total Other Financing Sources	0	1,152,581	1,152,581		0.00%		
Other Expenditures									
Interfund Transfer									
Interfund Transfer	0		521		(521)		0.00%		
Total Other Expenditures	0		521		(521)		0.00%		
Exc. Of Rev./Other Sources Over	0	1,154,136	1,154,136		0.00%		
Expend./Other Uses									
									
Fund Balance, End of Period	0	1,154,136	1,154,136		0.00%		

See Notes to Unaudited Financial Statements

Del Webb Bexley Community Development District

Statement of Revenues and Expenditures

300 - Capital Projects Fund

From 10/1/2018 Through 12/31/2018

(In Whole Numbers)

	Annual Budget		
Revenues			
			
Interest Earnings			
Interest Earnings	0		
Total Revenues	0		
Expenditures			
Financial & Administrative			
District Management	0		
Trustees Fees	0		
Financial & Revenue Collections	0		
Printing & Binding	0		
Underwriter	0		
Dissemination Agent	0		
Legal Counsel			
District Counsel	0		
Trustee Counsel	0		
Bond Counsel	0		
Developer Counsel	0		
Underwriter	0		
Other Physical Environment			
Improvements Other Than Buildings	0		
Total Expenditures	0		
Excess of Revenues Over/(Under)	0		
Expenditures			
Other Financing Sources			
			
Interfund Transfer			
Interfund Transfer	0		
Debt Proceeds			
Bond Proceeds	0		
Total Other Financing Sources	0		
Other Expenditures			
Other Financing Sources/(Uses)			
Prior Year AR Credit	0		
Total Other Expenditures	0		
Exc. Of Rev./Other Sources Over	0		
Expend./Other Uses			

Current Period		Budget To	Budget Percent	
Actual		Actual Variance	Remaining	
					
6,507		6,507		0.00%	
6,507		6,507		0.00%	
5,000	(5,000)		0.00%	
5,760	(5,760)		0.00%	
30,000	(30,000)		0.00%	
250	(250)		0.00%	
203,600	(203,600)		0.00%	
5,000	(5,000)		0.00%	
45,000	(45,000)		0.00%	
5,250	(5,250)		0.00%	
50,000	(50,000)		0.00%	
6,500	(6,500)		0.00%	
37,500	(37,500)		0.00%	
4,983,696		(4,983,696)		0.00%	
5,377,555		(5,377,555)		0.00%	
(5,371,049)	(5,371,049)		0.00%	
					
521	521		0.00%	
9,027,419		9,027,419		0.00%	
9,027,939		9,027,939		0.00%	
186,593		(186,593)		0.00%	
186,593		(186,593)		0.00%	
3,470,298	3,470,298		0.00%	

Fund Balance, End of Period	0	3,470,298	3,470,298	0.00%	

See Notes to Unaudited Financial Statements

Del Webb Bexley

Investment Summary

December 31, 2018

						Balance as of	
Account			Investment		December 31, 2018	
							
US Bank Series 2018 Reserve	First American Treasury Obligation Fd Class Y	$	346,357	
US Bank Series 2018	Interest	First American Treasury Obligation Fd Class Y		807,779	
							
				Total Debt Service Fund Investments	$	1,154,136	
					
US Bank Series 2018	Construction	First American Treasury Obligation Fd Class Y	$	3,460,520	
US Bank Series 2018	COI	First American Treasury Obligation Fd Class Y		9,778	
							
				Total Capital Project Fund Investments	$	3,470,298	

See Notes to Unaudited Financial Statements

		Del Webb Bexley Community Development District	
				Aged Payables by Invoice Date			
				Aging Date - 11/1/2018			
				001 - General Fund			
				From 12/1/2018 Through 12/31/2018			
Vendor Name		Invoice Date		Invoice Number		Invoice Description		Current Balance	
									
Hopping Green & Sams	11/30/2018	104510		General Legal	226.41	
						Services 11/18			
									
						Total 001 - General	226.41	
						Fund			
									
Report Total							226.41	

DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

CAPITAL IMPROVEMENT REVENUE BONDS - SERIES 2018

Construction Account Activity Through December 31,2018

Inflows:	Debt Proceeds		$	8,823,818.75			
	Underwriter Discount		203,600.00			
		Total Bond Proceeds:		9,027,418.75			
	Interest Earnings			6,506.75			
	Transfer from Reserves		520.73			
		Total Inflows	$	9,034,446.23			
Outflows:	Requisitions				Status		

Requisition	Requisition				As of 12/31/18		
Date	Number	Contractor		Amount			
							
10/31/18	COI	Underwriter Discount	$	(203,600.00)	Cleared		
10/31/18	COI	Holland and Knight LLP		(5,250.00)	Cleared		
10/31/18	COI	Bryant Miller Olive		(87,500.00)	Cleared		
10/31/18	COI	US Bank		(5,759.68)	Cleared		
10/31/18	COI	Hopping Green Sams		(45,000.00)	Cleared		
10/31/18	COI	Rizzetta & Co, Inc		(40,000.00)	Cleared		
11/30/18	COI	ImageMaster		(250.00)	Cleared		
12/31/18	COI	Feldman & Mahoney P.A.		(6,500.00)	Cleared		
		Total COI:					
				(393,859.68)			
10/31/18	CR1	NNP Bexley LLC		(2,585,689.64)	Cleared		
10/31/18	CR2	NNP Bexley LLC		(2,392,699.41)	Cleared		
11/30/18	CR3	Clearview Land Design, P.L.		(1,025.00)	Cleared		
11/30/18	CR4	RIPA & Associates, LLC		(186,593.18)	Cleared		
12/20/18	CR5	Clearview Land Design, P.L.		(2,321.18)	Cleared		
12/20/18	CR6	Hopping Green & Sams		(1,960.50)	Cleared		
		Total Requisitions:					
				(5,170,288.91)			

		Total COI and Requisitions:		(5,564,148.59)			
		Retainage Payable		0.00			
		Total Outflows:		(5,564,148.59)			
Capital Projects Fund Balance at December 31,2018	$	3,470,297.64			

Del Webb Bexley Community Development District

Notes to Unaudited Financial Statements
December 31, 2018

Balance Sheet

1.	Trust statement activity has been recorded through 12/31/18.

2.	See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org/ for Municipal Disclosures and Market Data.