Tradition Community Development Districts #1-11

Financial Report Fiscal Year 2023/2024
October 1, 2023 - April 30, 2024

FINANCIAL REPORT
TRADITION COMMUNITY DEVELOPMENT DISTRICT #1-11 RECAP FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - APRIL 30, 2024

	FISCAL YEAR	FISCAL YEAR				
	2023/2024	10/01/23 - 04/30/24		% Of		
		FINAL BUDGET	 	ACTUALS				Budget			 COMMENTS		
 REVENUES	
ON-ROLL ASSESSMENTS - Debt	5,440,105	5,032,706		93%			
ON-ROLL ASSESSMENTS - ADMIN	538,664	550,884		102%			
ON-ROLL ASSESSMENTS - MAINT	1,922,785	1,966,406		102%			
ON-ROLL ASSESSMENTS - TIM	163,587	167,298		102%			
STORMWATER	975,000	1,227,933		126%			
OTHER INCOME	60,000	205,122		342%			

Total Revenues	$	9,100,142	$	9,150,349		101%			

 EXPENDITURES - ADMIN	
AUDIT	 

55,000	0		
0%			
BANK FEES	0	0		0%			
DISSEMINATION AGENT	3,000	0		0%			
DISTRICT COUNSEL	80,000	24,865		31%			
MANAGEMENT	108,046	56,094		52%			
ASSESSMENT ROLL	10,000	0		0%			
DUES, LICENSES & FEES	1,925	1,925		100%			
ENGINEERING	50,000	50,000		100%			
GENERAL INSURANCE	120,000	123,014		103%			
WEB SITE MAINTENANCE	8,250	4,375		53%			
LEGAL ADVERTISING	6,500	1,590		24%			
MISCELLANEOUS	0	1,067		1067%		Traffic Cones	
TRAVEL AND PER DIEM	1,000	202		20%			
OFFICE SUPPLIES	2,500	2,856		114%			
POSTAGE & SHIPPING	350	489		140%			
COPIES	3,000	0		0%			
SUPERVISOR FEES	60,000	16,832		28%			
TRUSTEE SERVICES	18,000	0		0%			
OFFICE RENT	25,000	54,737		219%			
CONTINUING DISCLOSURE FEE	3,000	1,500		50%			
TOTAL ADMIN EXPENSES	555,571	339,546		61%			

EXPENDITURES - MAINT						

LAKE MAINTENANCE	304,696	126,446		41%			
TIM OPERATIONS	150,500	239,358		159%			
BUILDING, BRIDGE, MONUMENT MAINTENA	265,000	0		0%			
(FKA CONTINGENCY) - MAINT RESERVES	72,000	0		0%			
COMMUNITY AREA MAINTENANCE	50,000	114,652		229%			
DEVELOPMENT COORDINATOR	31,467	18,354		58%			
ELECTRIC	87,000	54,368		62%			
ENGINEERING	100,000	94,805		95%			
FIELD MANAGEMENT	240,000	115,306		48%			
FOUNTAIN MAINTENANCE & CHEMICALS	30,000	2,433		8%			
LANDSCAPING MAINTENANCE & MATERIALS	896,100	669,384		75%			
IRRIGATION	152,000	97,802		64%			
IRRIGATION PARTS & REPAIRS	75,000	122,664		164%			
SIDEWALK CLEANING	30,000	15,000		50%			
SIDEWALK REPAIR	60,000	33,612		56%			
SIGNAGE	10,000	7,928		79%			
STREETLIGHTS	45,000	59,076		131%			
STORMWATER MANAGEMENT	95,700	440,175		460%			
TREE/PLANT REPLACEMENT & TRIM	200,000	139,105		70%			
TOTAL MAINTENANCE EXPENSES	2,894,463	2,350,468		81%			

 					
Total Expenditures	$	3,450,034	$	2,690,013		78%			

	 

EXCESS / (SHORTFALL)	$	5,650,108	$	6,460,336		114%			

PAYMENT TO TRUSTEE	 

(5,004,897)	(4,744,392)		
95%			

BALANCE	$	645,211	$	1,715,944					

COUNTY APPRAISER & TAX COLLECTOR FEE	 
(322,606)	(309,041)		96%			
DISCOUNTS FOR EARLY PAYMENTS	(322,606)	(294,076)		91%			

NET EXCESS / (SHORTFALL)	$	-	$	1,112,827					

11:14 AM	Tradition CDD No. 1
04/30/24	Balance Sheet
Accrual Basis	As of April 30, 2024

Apr 30, 24

ASSETS
Current Assets Checking/Savings		
01-1000 · Valley National 1157	2,687,125.45	
Total Checking/Savings	2,687,125.45	
Accounts Receivable		
11000 · Accounts Receivable	1,428,430.07	
Total Accounts Receivable	1,428,430.07	
Other Current Assets		
01-1208 · Due From Other Gov Units - Open	999.78	
01-8154 · Deposits	200.00	
Total Other Current Assets	1,199.78	
Total Current Assets	4,116,755.30	
Other Assets		
01-8122 · A/R St Lucie County Excess Fees	-18,711.00	
Total Other Assets	-18,711.00	
TOTAL ASSETS	4,098,044.30	
LIABILITIES & EQUITY		
Liabilities
Current Liabilities Accounts Payable
01-2020 · Accounts Payable	

218,662.94	
Total Accounts Payable	218,662.94	
Other Current Liabilities		
01-2023 · Due To Other Funds	396,051.84	
01-2025 · Deposits - Engr Deposit	36,142.33	
01-2026 · Deposits - Lake Bank Restoratio	535,941.27	
01-3010 · General Reserve - Signage	500,000.00	
01-3020 · General Maintenance Reserves	97,000.00	
Total Other Current Liabilities	1,565,135.44	
Total Current Liabilities	1,783,798.38	
Total Liabilities	1,783,798.38	
Equity		
30000 · Opening Balance Equity	203,755.31	
99-9999 · Retained Earnings	997,663.85	
Net Income	1,112,826.76	
Total Equity	2,314,245.92	
TOTAL LIABILITIES & EQUITY	4,098,044.30	

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FINANCIAL REPORT
TRADITION COMMUNITY DEVELOPMENT DISTRICT IRRIGATION FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - APRIL 30, 2024

	FISCAL YEAR		FISCAL YEAR		
	2023/2024		10/01/23 - 04/30/24		% Of		
	FINAL BUDGET		ACTUALS		Budget		
 REVENUES	
SERVICE CHARGE - IRRIGATION		
1,890,000		
1,133,090			
60%	
ENGINEERING REVENUE FEES/OTHER		17,338		29,912			173%	
Total Revenues		$	1,907,338		$	1,163,002			232%	

 EXPENSES	
TRUSTEE SERVICES		
5,000		
-4,246			
-85%	
MANAGEMENT		377,744		220,351			58%	
ENGINEERING		40,000		59,593			149%	
PROFESSIONAL SERVICES, OTHER		5,000					0%	
DEVELOPMENT COORDINATOR		62,933		36,708			58%	
CITY FRANCHISE FEE		165,000		117,925			71%	
TRAVEL AND PER DIEM		400					0%	
TELEPHONE		1,930					0%	
POSTAGE AND SHIPPING		253		135			53%	
BANK FEES		1,250					0%	
BAD DEBT		65,000					0%	
OFFICE SUPPLIES		250		1,056			423%	
FIELD SUPPLIES (OTHER)		2,000					0%	
DUES, LICENSES, FEES		2,300					0%	
VEHICLE, GAS, & REPAIR		1,000					0%	
ELECTRIC		105,000		64,301			61%	
WATER		170		142			83%	
OTHER UTILITIES		1,550					0%	
GENERAL INSURANCE		21,102					0%	
GENERAL REPAIR & MAINTENANCE		215,000		170,236			79%	
LANDSCAPING MAINTENANCE & MATERIAL		11,000					0%	
HVAC		4,500					0%	
RENEWAL AND REPLACEMENT		250,000		149,190			60%	
OTHER SYSTEM IMPROVEMENTS		100,000					0%	
OPERATING RESERVES/MISC		80,000		4,474			6%	
CONTINGENCY		20,531					0%	
Total Expenses		$	1,538,913		$	819,865			53%	
								
EXCESS / (SHORTFALL)		$	368,425		$	343,137			93%	

PAYMENT TO TRUSTEE		
(368,425)		
(215,206)			
58%	
BALANCE		$	0		$	127,931				
								
NET INCOME		$	0		$	127,931				

11:36 AM	Tradition Irrigation
04/30/24	Balance Sheet
Accrual Basis	As of April 30, 2024

Apr 30, 24
ASSETS
Current Assets Checking/Savings
01-1001 · Valley National #4703		
01-1002 · Valley Natl #4307 - Capacity	35,872.57	
01-1001 · Valley National #4703 - Other	1,269,579.61	
Total 01-1001 · Valley National #4703	
1,305,452.18	
Total Checking/Savings	1,305,452.18	
Accounts Receivable		
01-1200 · Accounts Receivable	216,470.16	
Total Accounts Receivable	216,470.16	
Other Current Assets		
01-2023 · Due From Other Funds	17,900.21	
Total Other Current Assets	17,900.21	
Total Current Assets	1,539,822.55	
Fixed Assets		
01-2030 · Equipment and Furniture	23,957.00	
Total Fixed Assets	23,957.00	
Other Assets		
01-2025 · Deposits	95.00	
01-2035 · Accum Depr - Equipment	-23,955.18	
Total Other Assets	-23,860.18	
TOTAL ASSETS	1,539,919.37	
LIABILITIES & EQUITY		
Liabilities
Current Liabilities Accounts Payable
01-2020 · Accounts Payable	

50,784.78	
Total Accounts Payable	50,784.78	
Other Current Liabilities		
01-2026 · Deposits - Security Deposit	1,390.22	
01-2027 · Deferred Revenue	10,000.00	
Total Other Current Liabilities	11,390.22	
Total Current Liabilities	62,175.00	
Long Term Liabilities		
11-2180 · Note Payable	93,787.00	
Total Long Term Liabilities	93,787.00	
Total Liabilities	155,962.00	
Equity		
30000 · Net Assets - 270	-87,351.52	
99-9999 · Retained Earnings	1,343,378.21	
Net Income	127,930.68	
Total Equity	1,383,957.37	
TOTAL LIABILITIES & EQUITY	1,539,919.37	

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1:24 PM	Tradition Irrigation
04/30/24	A/R Aging Summary
As of April 30, 2024

	Current		1 - 30		31 - 60		61 - 90		> 90		TOTAL	
706800 Wells Fargo	0.00		32.70		0.00		0.00		0.00		32.70	
Aycock at Tradition	0.00		204.13		0.00		0.00		0.00		204.13	
Bedford Park	0.00		8,866.57		0.00		0.00		0.00		8,866.57	
Brennity at Tradition	0.00		3,051.97		0.00		0.00		0.00		3,051.97	
Cellular Sales of Northern Florida LLC	0.00		86.41		0.00		0.00		0.00		86.41	
Chesterbrook Academy	0.00		134.37		134.37		0.00		0.00		268.74	
Christ Fellowship Church	0.00		1,646.88		0.00		0.00		0.00		1,646.88	
Cleveland Clinic Florida	0.00		0.00		0.00		0.00		9,322.32		9,322.32	
Cleveland Clinic Martin Health -Tradition	0.00		64.80		0.00		0.00		0.00		64.80	
Culver's - G&S Family Hospitality Svcs	0.00		73.33		0.00		0.00		73.33		146.66	
Del Webb at Tradition Homeowners Assoc	0.00		3,519.15		0.00		0.00		0.00		3,519.15	
Estates at Tradition	0.00		5,763.07		5,763.07		5,763.07		40,341.49		57,630.70	
Florida International University	0.00		1,091.97		1,091.97		1,091.97		22,931.37		26,207.28	
Grande Palms at Tradition I & II	0.00		879.92		879.92		879.92		879.92		3,519.68	
Grande Palms at Tradition III	0.00		1,708.31		1,708.31		1,708.31		1,708.31		6,833.24	
Heritage Oaks	0.00		0.00		0.00		0.00		0.00		0.00	
Heron Preserves	0.00		1,748.45		0.00		0.00		0.00		1,748.45	
Hilton - Homewood Suites, PSL	0.00		346.82		346.82		0.00		0.00		693.64	
Innovo Development Group, LLC	0.00		188.27		0.00		188.27		0.00		376.54	
Kite Realty Group	0.00		2,815.73		0.00		0.00		0.00		2,815.73	
Martin Health System	0.00		921.54		0.00		0.00		0.00		921.54	
O & A Florida Investments, LLC	0.00		52.91		0.00		0.00		0.00		52.91	
Panaderias, LLC	0.00		97.11		0.00		0.00		0.00		97.11	
Panda Restaurant Group Inc	0.00		57.27		0.00		0.00		57.27		114.54	
Pegasus PSL, Ltd	0.00		283.40		0.00		0.00		0.00		283.40	
Promenade at Tradition Community Assoc	0.00		0.00		0.00		0.00		467.70		467.70	
Recovery Sports Grill	0.00		0.00		0.00		0.00		0.01		0.01	
Renaissance CS at Tradition	0.00		768.94		0.00		0.00		0.00		768.94	
Rise Tradition Investment LLC	0.00		190.25		0.00		0.00		0.00		190.25	
Seven Restaurants, LLC	0.00		89.18		89.18		89.18		178.36		445.90	
SG Mini Golf	0.00		0.00		0.00		0.00		158.54		158.54	
South Florida Orthopedic	0.00		178.36		0.00		0.00		0.00		178.36	
Springs at Tradition	0.00		1,789.57		0.00		0.00		0.00		1,789.57	
The Lakes at Tradition	0.00		16,228.96		0.00		0.00		1,169.29		17,398.25	
The Lucie at Tradition	0.00		1,089.99		0.00		0.00		0.00		1,089.99	
The Preserves Phase I & II	0.00		933.43		933.43		0.00		4,667.15		6,534.01	
Town Park Master Assoc., Inc.	0.00		0.00		0.00		26,916.81		0.00		26,916.81	
Tradition CDD #1	0.00		13,971.69		0.00		0.00		0.00		13,971.69	
Tradition HOA	0.00		1,898.56		1,898.56		0.00		0.00		3,797.12	
Tradition POA	0.00		229.89		0.00		0.00		0.00		229.89	
Treasure Coast Physicians Properties, LLC	0.00		6.54		0.00		6.54		0.00		13.08	
Truist Bank	0.00		91.16		91.16		91.16		911.60		1,185.08	
Victoria Parc	0.00		0.00		0.00		0.00		297.64		297.64	
Victoria Parc 2	0.00		0.00		0.00		0.00		184.10		184.10	
Victoria Parc at Tradition HOA	0.00		6,312.03		0.00		0.00		6,312.03		12,624.06	
Vitalia at Tradition	0.00		-180.00		0.00		0.00		0.00		-180.00	
Wawa, Inc.	0.00		0.00		0.00		0.00		-95.92		-95.92	
TOTAL	0.00		77,233.63		12,936.79		36,735.23		89,564.51		216,470.16	

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