Southaven Community Development District

Financial Statements (Unaudited)

February 28, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven	Community Development District										
Balance Sheet	
As of 02/28/2026	
(In Whole Numbers)	
									General	nd	Debt Service	nd		Capital Project	nd		Total Gvmnt	nd		ixed	Assets Group		Long-Term	ebt	
Assets																			
Cash In Bank						894,420	22,686			0		917,106			0			0	
Investments								0	963,277		22,962		986,239			0			0	
Accounts Receivable					65,302	35,315			0		100,618			0			0	
Prepaid	Expenses					2,464		0			0		2,463			0			0	
Refundable	eposits					3,511		0			0		3,511			0			0	
ixed	Assets								0		0			0			0			16,003,359			0	
Amount Available in	Debt Service		0		0			0			0			0		1,021,278	
Amount To Be Provided	Debt Service		0		0			0			0			0		4,863,722	
Total Assets							965,697	1,021,278		22,962		2,009,937			16,003,359		5,885,000	
Liabilities																			
Accounts Payable					14,685		0			0		14,685			0			0	
Accrued	Expenses					3,400		0			0		3,400			0			0	
Other Current Liabilities				47		0			0			47			0			0	
Revenue Bonds Payable-Long Term		0		0			0			0			0		5,885,000	
Deposits Payable					1,100		0			0		1,100			0			0	
Total Liabilities						
19,232		0			0		19,232			0		5,885,000	

nd  Equity & Other Credits												
Beginning	nd Balance			330,049	660,616		22,593		1,013,258			0			0	
Investment In General	ixed	Assets		0		0			0			0			16,003,359			0	
Net Change in	nd Balance		616,416	360,662			369		977,447			0			0	
Total	nd  Equity & Other Credits	946,465	1,021,278		22,962		1,990,705			16,003,359			0	

Total Liabilities &	
nd  Equity	
965,697	
1,021,278		
22,962		
2,009,937			
16,003,359		
5,885,000	

See Notes to Unaudited inancial Statements

As of 02/28/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		02/28/2026		02/28/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Revenues								
Interest Earnings								
Interest Earnings	0		0		212		212	
Special Assessments								
Tax Roll	968,613		968,613		980,507		11,894	
Other Misc. Revenues								
Miscellaneous Revenue	12,000		5,000		4,150		(850)	
Total Revenues	980,613		973,613		984,869		11,256	
Expenditures								
Financial & Administrative								
Accounting Services	17,841		7,434		7,434		0	
Administrative Services	6,381		2,659		2,659		0	
Arbitrage Rebate Calculation	1,000		500		500		0	
Assessment Roll	5,909		5,909		5,909		0	
Auditing Services	3,900		0		0		0	
Disclosure Report	2,000		833		833		0	
District Engineer	7,000		2,917		1,357		1,559	
District Management	17,727		7,386		7,387		0	
Dues, Licenses & Fees	175		175		175		0	
Financial & Revenue Collections	4,256		1,773		1,773		0	
Legal Advertising	1,500		625		275		350	
Miscellaneous Fees	500		208		446		(237)	
Public Officials Liability Insurance	3,500		3,500		3,361		139	
Trustees Fees	7,000		3,209		2,830		378	
Website Hosting, Maintenance, Backup	3,420		1,425		1,425		0	
& E								
Total Financial & Administrative	82,109		38,553		36,364		2,189	
Legal Counsel								
District Counsel	15,000		6,250		10,269		(4,019)	
Total Legal Counsel	15,000		6,250		10,269		(4,019)	
Security Operations								
Access Control / Security Camera Main-	50,251		20,938		36,422		(15,484)	
ten								
Gate Phone	2,000		833		670		163	
Guard & Gate Facility Maintenance &	11,000		4,583		11,288		(6,705)	
Repa								
Total Security Operations	63,251		26,354		48,380		(22,026)	
Electric Utility Services								
Utility - Recreation Facilities	15,500		6,459		5,681		778	
Utility - Street Lights	24,500		10,208		10,461		(253)	
Total Electric Utility Services	40,000		16,667		16,142		525	
Garbage/Solid Waste Control Services								
Garbage - Recreation Facility	3,500		1,458		1,421		38	
Total Garbage/Solid Waste Control Ser-	3,500		1,458		1,421		38	

As of 02/28/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		02/28/2026		02/28/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
vices								
Water-Sewer Combination Services								
Utility - Reclaimed	46,000		19,167		19,467		(301)	
Utility - Water & Sewer	12,000		5,000		5,077		(77)	
Total Water-Sewer Combination Services	58,000		24,167		24,544		(378)	
Stormwater Control								
Aquatic Pond Maintenance	10,037		4,182		4,175		7	
Total Stormwater Control	10,037		4,182		4,175		7	
Other Physical Environment								
Entry & Walls Maintenance & Repair	5,000		2,084		0		2,083	
General Liability & Property Insurance	39,000		39,000		37,415		1,585	
Irrigation Repair	10,000		4,166		0		4,167	
Landscape & Irrigation Maintenance	166,201		69,251		69,250		0	
Contr								
Landscape Replacement Plants,	25,000		10,416		3,456		6,961	
Shrubs, Tr								
Total Other Physical Environment	245,201		124,917		110,121		14,796	
Road & Street Facilities								
Maintenance & Repairs	1,500		625		72		553	
Parking Lot/Roadway Repair & Mainte-	12,000		5,000		6,500		(1,500)	
nance								
Street Light/Decorative Light Mainte-	3,500		1,459		290		1,169	
nanc								
Street Sign Repair & Replacement	1,000		416		103		313	
Total Road & Street Facilities	18,000		7,500		6,965		535	
Parks & Recreation								
Amenity Facility - Maintenance & Repair	15,000		6,250		5,282		968	
Amenity Facility Janitorial Service Cont	15,000		6,250		6,071		179	
Amenity Management Service Contracts	173,415		72,256		72,341		(84)	
Common Areas Pressure Washing	6,000		2,500		0		2,500	
Dog Waste Station Supplies & Mainte-	2,000		834		524		308	
nance								
Elevator Maintenance & Permit	3,000		1,250		375		875	
Fitness Equipment Maintenance & Re-	2,500		1,041		940		103	
pair								
Furniture Repair & Replacement	4,000		1,667		0		1,666	
HVAC Maintenance Contract	3,000		2,250		2,500		(250)	
Pest Control & Termite Bond	1,750		729		1,606		(877)	
Pool Permits	350		146		0		146	
Pool Services - Chemicals/Per-	9,500		9,500		9,035		465	
mits/Suppli								
Security System Monitoring Services &	1,500		625		1,080		(455)	
Ma								
Telephone, Internet, Cable	8,000		3,333		3,237		97	
Tennis/Athletic Court/Park Maintenance	500		209		0		208	
Total Parks & Recreation	245,515		108,840		102,991		5,849	
Special Events								

As of 02/28/2026 (In Whole Numbers)	
Year Ending 09/30/2026

Annual Budget		Through 02/28/2026

YTD Budget		Year To Date 02/28/2026

YTD Actual	YTD Variance	
Holiday Decorations Special Events
Total Special Events	5,000
5,000

10,000		5,000
2,083

7,083		4,886
1,727

6,613		114
356

470	
Contingency
Capital Improvements Miscellaneous Contingency
Total Contingency
Total Expenditures	
25,000
165,000

190,000
980,613		
10,417
68,750

79,167
445,138		
468
0

468
368,453		
9,949
68,750

78,699
76,685	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
528,475		
616,416		
87,941	
Fund Balance, Beginning of Period	0		0		330,049		330,049	
Total Fund Balance, End of Period	0		528,475		946,465		417,990	

As of 02/28/2026 (In Whole Numbers)	
	Year Ending 09/30/2026

Annual Budget		Through 02/28/2026

YTD Budget		Year To Date 02/28/2026

YTD Actual	YTD Variance	
Revenues								
Interest Earnings Interest Earnings	
0		
0		
3,656		
3,656	
Special Assessments Tax Roll
Total Revenues	
218,999
218,999		
218,999
218,999		
221,689
225,345		
2,690
6,346	
Expenditures								
Debt Service Interest Principal
Total Debt Service
Total Expenditures	
133,999
85,000

218,999
218,999		
133,999
85,000

218,999
218,999		
71,274
0

71,274
71,274		
62,725
85,000

147,725
147,725	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
0		
154,071		
154,071	
Fund Balance, Beginning of Period	0		0		245,095		245,095	
Total Fund Balance, End of Period	0		0		399,166		399,166	

As of 02/28/2026 (In Whole Numbers)	
	Year Ending 09/30/2026

Annual Budget		Through 02/28/2026

YTD Budget		Year To Date 02/28/2026

YTD Actual	YTD Variance	
Revenues								
Interest Earnings Interest Earnings	
0		
0		
6,221		
6,221	
Special Assessments Tax Roll
Total Revenues	
304,819
304,819		
304,819
304,819		
308,563
314,784		
3,744
9,965	
Expenditures								
Debt Service Interest Principal
Total Debt Service
Total Expenditures	
224,819
80,000

304,819
304,819		
224,819
80,000

304,819
304,819		
108,194
0

108,194
108,194		
116,625
80,000

196,625
196,625	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
0		
206,590		
206,590	
Fund Balance, Beginning of Period	0		0		415,522		415,522	
Total Fund Balance, End of Period	0		0		622,112		622,112	

Revenues
Interest Earnings

As of 02/28/2026 (In Whole Numbers)
Year Ending	Through	Year To Date
09/30/2026	02/28/2026	02/28/2026
  
Annual Budget	YTD Budget	YTD Actual	YTD Variance

Interest Earnings	0		0		369		369	
Total Revenues	0		0		369		369	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
369		
369	
penditures
Fund Balance, Beginning of Period	
0		
0		
22,593		
22,593	
Total Fund Balance, End of Period	0		0		22,962		22,962	

Southaven CDD Investment Summary February 28, 2026	

Account

Hancock Back Revenue S2015 A-1 Hancock Bank Reserve S2015 A-1 Hancock Bank Interest S2015 A-1 Hancock Bank Prepayment S2015 A-1 Hancock Bank Sinking Fund S2015 A-1 Hancock Bank Revenue S2016 A-1 Hancock Bank Reserve S2016 A-1 Hancock Bank Interest S2016 A-1 Hancock Bank Prepayment S2016 A-1 Hancock Bank Sinking Fund S2016 A-1	

Investment

Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465) Goldman Sachs Gov't Fund-Class Inst(#465)

Total Debt Service Fund Investments	

$

 $		
Balance as of February 28, 2026

249,216
125,649
31
11
10
416,796
171,406
47
101
10

963,277 	

Hancock Bank Construction S2016	
Goldman Sachs Gov't Fund-Class Inst(#465)

Total Capital Projects Fund Investments	
$

 $		
22,962

22,962 	

FirstService Financial, an affiliate by ownership to your management company Rizzetta & Company, provides banking solutions exclusively to clients of Rizzetta & Company. FirstService Financial receives a monthly administration fee from partner financial institutions for our assistance with the development, placement, service, and maintenance of our banking programs without impacting the interest our clients earn on their funds. The monthly administration fee varies as it is negotiated with each participating financial institution.

Fund_ID	Fund Name	Customer	Invoice Number AR Account	Date	Balance Due
287, 2354
287-001	287 General Fund	St Johns County Tax Collector	AR00002997	12110	10/01/2025	65,302.66	
Sum for 287, 2354						65,302.66	
287, 2355							
287-200	287 Debt Service Fund S2015	St Johns County Tax Collector	AR00002997	12110	10/01/2025	14,764.69	
Sum for 287, 2355						14,764.69	
287, 2356							
287-201	287 Debt Service Fund S2016	St Johns County Tax Collector	AR00002997	12110	10/01/2025	20,550.57	
Sum for 287, 2356						20,550.57	
Sum for 287						100,617.92	
Sum Total						100,617.92	

See Notes to Unaudited Financial Statements

Fund Name	GL posting date	Vendor name	Document number Description	Balance Due	
287, 2354			
287 General Fund	02/01/2026	All Pro Asphalt	14-2-9509	Parking Lot Repair	6,500.00	
		02/26	
287 General Fund	02/19/2026	AT&T	323860823-021226	Internet & Phone Ser-	270.72	
			ACH	vices 02/26		
287 General Fund	02/23/2026	COMCAST	8495741401213297-0	Phone Services 02/26	384.30	
		21726 ACH	
287 General Fund	02/01/2026	Egis Insurance Advi-	31710	Liability Insurance	612.00	
		sors, LLC		10/25-10/26		
287 General Fund	02/28/2026	Florida Power & Light	9246030044-031326	Electric Services 02/26	31.43	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	9779789537-031326	Electric Services 02/26	37.44	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	2936844030-031326	Street Lights 02/26	39.14	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	3005756139-031326	Electric Services 02/26	85.01	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	0539926444-031326	Electric Services 02/26	30.80	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	3111413393-031326	Electric Services 02/26	31.18	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	6452877167-031326	Electric Services 02/26	868.14	
		Company	
287 General Fund	02/28/2026	Florida Power & Light	2396585172-031326	Street Lights 02/26	2,100.34	
		Company	
287 General Fund	02/28/2026	Otis Elevator Com-	TAJ18396001	Maintenance & Re-	375.00	
		pany		pairs 02/26		
287 General Fund	02/28/2026	St Johns Utility De-	559802135720-02162	Water Services 02/26	323.67	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132340-02162	Water Services 02/26	38.03	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132342-02162	Water Services 02/26	567.56	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132378-02162	Water Services 02/26	748.37	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802133630-02162	Water Services 02/26	12.46	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802134615-02162	Water Services 02/26	37.38	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132336-02162	Water Services 02/26	87.22	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132338-02162	Water Services 02/26	55.94	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132379-02162	Water Services 02/26	130.81	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802132013-02162	Water Services 02/26	756.27	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802139106-02162	Water Services 02/26	62.59	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802135961-02162	Water Services 02/26	12.46	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802135959-02162	Water Services 02/26	62.40	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802135958-02162	Water Services 02/26	78.25	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802135956-02162	Water Services 02/26	29.39	
		partment	6 ACH			
287 General Fund	02/28/2026	St Johns Utility De-	559802135721-02162	Water Services 02/26	251.79	
		partment	6 ACH			
287 General Fund	02/28/2026	Wayne Automatic Fire	1292798	Sprinkler Inspection	65.00	
		Sprinklers, Inc.		02/26		
Sum for 287, 2354		14,685.09	
Sum for 287		14,685.09	
Sum Total		14,685.09	

Southaven Community Development District Notes to Unaudited Financial Statements February 28, 2026

Balance Sheet

Trust statement activity has been recorded through 02/28/26.
See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org for Municipal Disclosures and Market Data.

Summary A/R Ledger-Payment Terms
Payment terms for landowner assessments are (a) defined in the FY25-26 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 AR00002997 in the amount of $19,053.81 was received in March 2026.
Debt Service Fund S2015 - Payment for Invoice AR00002997 in the amount of $4,307.99 was received in March 2026.
Debt Service Fund S2016 - Payment for Invoice AR00002997 in the amount of $5,996.17 was received in March 2026.