Tradition Community Development Districts #1-11

Financial Report Fiscal Year 2023/2024
October 1, 2023 -January 31, 2024

Page 1

	FISCAL YEAR		FISCAL YEAR				
	2023/2024		10/01/23 - 01/31/24		% Of		
		FINAL BUDGET				ACTUALS				Budget			 COMMENTS		
 REVENUES	
ON-ROLL ASSESSMENTS - Debt		5,440,105		4,551,397		84%			
ON-ROLL ASSESSMENTS - ADMIN		538,664		501,775		93%			
ON-ROLL ASSESSMENTS - MAINT		1,922,785		1,791,108		93%			
ON-ROLL ASSESSMENTS - TIM		163,587		152,384		93%			
STORMWATER		975,000		0		0%			
OTHER INCOME		60,000		141,150		235%			
Total Revenues		$	9,100,142		$	7,137,814		78%			
 EXPENDITURES - ADMIN	
AUDIT		
55,000		
0		
0%			
BANK FEES		0		0		0%			
DISSEMINATION AGENT		3,000		0		0%			
DISTRICT COUNSEL		80,000		20,257		25%			
MANAGEMENT		108,046		32,054		30%			
ASSESSMENT ROLL		10,000		0		0%			
DUES, LICENSES & FEES		1,925		1,925		100%			
ENGINEERING		50,000		29,674		59%			
GENERAL INSURANCE		120,000		123,014		103%			
WEB SITE MAINTENANCE		8,250		2,500		30%			
LEGAL ADVERTISING		6,500		0		0%			
MISCELLANEOUS		0		1,067		1067%		Traffic Cones	
TRAVEL AND PER DIEM		1,000		166		17%			
OFFICE SUPPLIES		2,500		1,637		65%			
POSTAGE & SHIPPING		350		297		85%			
COPIES		3,000		0		0%			
SUPERVISOR FEES		60,000		4,153		7%			
TRUSTEE SERVICES		18,000		0		0%			
OFFICE RENT		25,000		32,242		129%			
CONTINUING DISCLOSURE FEE		3,000		0		0%			
TOTAL ADMIN EXPENSES		555,571		248,986		45%			

FISCAL YEAR	FISCAL YEAR				
2023/2024	10/01/23 - 01/31/24		% Of		
	FINAL BUDGET			ACTUALS				Budget			 COMMENTS		
EXPENDITURES - MAINT					
LAKE MAINTENANCE	304,696	2,040		1%			
TIM OPERATIONS	150,500	194,259		129%			
BUILDING, BRIDGE, MONUMENT MAINTENANC	265,000	0		0%			
(FKA CONTINGENCY) - MAINT RESERVES	72,000	0		0%			
COMMUNITY AREA MAINTENANCE	50,000	69,380		139%			
DEVELOPMENT COORDINATOR	31,467	10,488		33%			
ELECTRIC	87,000	33,569		39%			
ENGINEERING	100,000	47,317		47%			
FIELD MANAGEMENT	240,000	65,889		27%			
FOUNTAIN MAINTENANCE & CHEMICALS	30,000	1,683		6%			
LANDSCAPING MAINTENANCE & MATERIALS	896,100	450,723		50%			
IRRIGATION	152,000	55,887		37%			
IRRIGATION PARTS & REPAIRS	75,000	37,214		50%			
SIDEWALK CLEANING	30,000	7,500		25%			
SIDEWALK REPAIR	60,000	33,612		56%			
SIGNAGE	10,000	4,128		41%			
STREETLIGHTS	45,000	33,450		74%			
STORMWATER MANAGEMENT	95,700	198,065		207%		Silt Fence Removal, mowing, etc	
TREE/PLANT REPLACEMENT & TRIM	200,000	139,105		70%			
TOTAL MAINTENANCE EXPENSES	2,894,463	1,384,308		48%			

Total Expenditures	$	3,450,034	$	1,633,294		47%			

							
EXCESS / (SHORTFALL)	$	5,650,108	$	5,504,520		97%			

PAYMENT TO TRUSTEE	(5,004,897)	(4,281,780)		
86%			
BALANCE	$	645,211	$	1,222,740					

COUNTY APPRAISER & TAX COLLECTOR FEE	(322,606)	(294,928)		91%			
DISCOUNTS FOR EARLY PAYMENTS	(322,606)	(280,121)		87%			
NET EXCESS / (SHORTFALL)	$	-	$	647,692					

3:15 PM	Tradition CDD No. 1
02/06/24	Balance Sheet
Accrual Basis	As of January 31, 2024

Jan 31, 24

ASSETS
Current Assets Checking/Savings		
01-1000 · Valley National 1157	3,998,059.31	
Total Checking/Savings	3,998,059.31	
Accounts Receivable		
11000 · Accounts Receivable	1,444,014.21	
Total Accounts Receivable	1,444,014.21	
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	5,443,273.30	
Other Assets		
01-8122 · A/R St Lucie County Excess Fees	-18,711.00	
Total Other Assets	-18,711.00	
TOTAL ASSETS	5,424,562.30	
LIABILITIES & EQUITY		
Liabilities
Current Liabilities Accounts Payable
01-2020 · Accounts Payable	

1,959,533.22	
Total Accounts Payable	1,959,533.22	
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	3,524,668.66	
Total Liabilities	3,524,668.66	
Equity		
30000 · Opening Balance Equity	203,755.31	
99-9999 · Retained Earnings	1,048,446.53	
Net Income	647,691.80	
Total Equity	1,899,893.64	
TOTAL LIABILITIES & EQUITY	5,424,562.30	

Page 1

FINANCIAL REPORT
TRADITION COMMUNITY DEVELOPMENT DISTRICT IRRIGATION FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - JANUARY 31, 2024

	FISCAL YEAR		FISCAL YEAR		
	2023/2024		10/01/23 - 01/31/24		% Of		
	FINAL BUDGET		ACTUALS		Budget		
 REVENUES	
SERVICE CHARGE - IRRIGATION		
1,890,000		
646,857			
34%	
ENGINEERING REVENUE FEES/OTHER		17,338		15,279			88%	
Total Revenues		$	1,907,338		$	662,136			122%	

 EXPENSES	
TRUSTEE SERVICES		
5,000		
-4,246			
-85%	
MANAGEMENT		377,744		125,915			33%	
ENGINEERING		40,000		22,563			56%	
PROFESSIONAL SERVICES, OTHER		5,000		0			0%	
DEVELOPMENT COORDINATOR		62,933		20,976			33%	
CITY FRANCHISE FEE		165,000		78,396			48%	
TRAVEL AND PER DIEM		400		0			0%	
TELEPHONE		1,930		0			0%	
POSTAGE AND SHIPPING		253		80			32%	
BANK FEES		1,250		0			0%	
BAD DEBT		65,000		0			0%	
OFFICE SUPPLIES		250		1,029			412%	
FIELD SUPPLIES (OTHER)		2,000		0			0%	
DUES, LICENSES, FEES		2,300		0			0%	
VEHICLE, GAS, & REPAIR		1,000		0			0%	
ELECTRIC		105,000		44,860			43%	
WATER		170		86			51%	
OTHER UTILITIES		1,550		0			0%	
GENERAL INSURANCE		21,102		0			0%	
GENERAL REPAIR & MAINTENANCE		215,000		129,409			60%	
LANDSCAPING MAINTENANCE & MATERIAL		11,000		0			0%	
HVAC		4,500		0			0%	
RENEWAL AND REPLACEMENT		250,000		149,190			60%	
OTHER SYSTEM IMPROVEMENTS		100,000		0			0%	
OPERATING RESERVES/MISC		80,000		0			0%	
CONTINGENCY		20,531		3,375			16%	
Total Expenses		$	1,538,913		$	571,633			37%	
								
EXCESS / (SHORTFALL)		$	368,425		$	90,503			25%	

PAYMENT TO TRUSTEE	(368,425)	(122,975)	
33%	
BALANCE		$	0		$	(32,472)	

							

NET INCOME		$	0		$	(32,472)	

Page 4

02/06/24	Balance Sheet
Accrual Basis	As of January 31, 2024

Jan 31, 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	1,171,910.09	
Total 01-1001 · Valley National #4703	
1,207,782.66	
Total Checking/Savings	1,207,782.66	
Accounts Receivable		
01-1200 · Accounts Receivable	174,873.95	
Total Accounts Receivable	174,873.95	
Other Current Assets		
01-2023 · Due From Other Funds	17,900.21	
01-8499 · Undeposited Funds	1,646.88	
Total Other Current Assets	19,547.09	
Total Current Assets	1,402,203.70	
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	1,402,300.52	
LIABILITIES & EQUITY		
Liabilities
Current Liabilities Accounts Payable
01-2020 · Accounts Payable	

73,568.20	
Total Accounts Payable	73,568.20	
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	84,958.42	
Long Term Liabilities		
11-2180 · Note Payable	93,787.00	
Total Long Term Liabilities	93,787.00	
Total Liabilities	178,745.42	
Equity		
30000 · Net Assets - 270	-87,351.52	
99-9999 · Retained Earnings	1,343,378.21	
Net Income	-32,471.59	
Total Equity	1,223,555.10	
TOTAL LIABILITIES & EQUITY	1,402,300.52	

02/06/24	A/R Aging Summary
As of January 31, 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	
Baron Shoppes Tradition, LLC	0.00		190.25		190.25		190.25		380.50		951.25	
Bedford Park	0.00		8,866.57		8,866.57		0.00		0.00		17,733.14	
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		0.00		0.00		0.00		134.37	
Cleveland Clinic Florida	0.00		0.00		443.92		0.00		8,878.40		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		0.00		73.33	
Del Webb at Tradition Homeowners Assoc	0.00		3,519.15		3,519.15		0.00		0.00		7,038.30	
Estates at Tradition	0.00		5,763.07		5,763.07		5,763.07		28,815.35		46,104.56	
Florida International University	0.00		1,091.97		1,091.97		1,091.97		19,655.46		22,931.37	
Grande Palms at Tradition I & II	0.00		879.92		0.00		0.00		0.00		879.92	
Grande Palms at Tradition III	0.00		1,708.31		0.00		0.00		0.00		1,708.31	
Heritage Oaks	0.00		0.00		0.00		0.00		0.00		0.00	
Heritage Oaks at Tradition HOA	0.00		11,857.11		0.00		0.00		0.00		11,857.11	
Heron Preserves	0.00		1,748.45		0.00		0.00		0.00		1,748.45	
Hilton - Homewood Suites, PSL	0.00		346.82		0.00		0.00		0.00		346.82	
Innovation Plaza	0.00		119.30		0.00		0.00		0.00		119.30	
Innovo Development Group, LLC	0.00		188.27		188.27		0.00		0.00		376.54	
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		57.27		0.00		0.00		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		467.70		0.00		467.70	
PSL Hospitality, LLP	0.00		253.87		0.00		0.00		0.00		253.87	
Recovery Sports Grill	0.00		75.31		0.00		0.00		0.01		75.32	
Seven Restaurants, LLC	0.00		89.18		89.18		0.00		0.00		178.36	
SG Mini Golf	0.00		158.54		0.00		0.00		0.00		158.54	
South Florida Orthopedic	0.00		178.36		0.00		0.00		0.00		178.36	
TH PSL Village Parkway LLC	0.00		89.18		0.00		0.00		0.00		89.18	
The Lakes at Tradition	0.00		0.00		16,228.96		0.00		1,169.29		17,398.25	
The Preserves Phase I & II	0.00		933.43		933.43		933.43		4,667.15		7,467.44	
Tradition CDD #1	0.00		13,971.69		0.00		0.00		0.00		13,971.69	
Tradition POA	0.00		229.89		0.00		0.00		0.00		229.89	
Truist Bank	0.00		91.16		91.16		91.16		638.12		911.60	
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		0.00		0.00		0.00		6,312.03		6,312.03	
Wawa, Inc.	0.00		0.00		0.00		0.00		-95.92		-95.92	
Westcliffe Estates HOA	0.00		120.10		120.10		120.10		201.00		561.30	
TOTAL	0.00		57,529.84		37,583.30		8,657.68		71,103.13		174,873.95