Southaven Community Development District

Financial Statements (Unaudited)

March 31, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven	Community Development District										
Balance Sheet	
As of 03/31/2026	
(In Whole Numbers)	
								General	nd	Debt Service	nd		Capital Project	nd		Total Gvmnt	nd		ixed	Assets Group		Long-Term	ebt	
Assets																			
Cash In Bank						862,641	10,304			0		872,945			0			0	
Investments								0	988,610		23,025		1,011,636			0			0	
Accounts Receivable					46,249	25,012			0		71,260			0			0	
Prepaid Expenses					4,425		0			0		4,425			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		1,023,926	
Amount To Be Provided	Debt Service		0		0			0			0			0		4,861,074	
Total Assets							916,826	1,023,926		23,025		1,963,777			16,003,359		5,885,000	
Liabilities																			
Accounts Payable					9,892		0			0		9,892			0			0	
Accrued Expenses					15,135		0			0		15,135			0			0	
Other Current Liabilities				2		0			0			2			0			0	
Revenue Bonds Payable-Long Term		0		0			0			0			0		5,885,000	
Deposits Payable						600		0			0			600			0			0	
Total Liabilities						25,629		0			0		25,629			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		561,148	363,310			432		924,890			0			0	
Total	nd  Equity & Other Credits	891,197	1,023,926		23,025		1,938,148			16,003,359			0	

Total Liabilities &	
nd  Equity	
916,826	
1,023,926		
23,025		
1,963,777			
16,003,359		
5,885,000	

See Notes to Unaudited inancial Statements

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 03/31/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		03/31/2026		03/31/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Revenues								
Interest Earnings								
Interest Earnings	0		0		288		288	
Special Assessments								
Tax Roll	968,613		968,613		980,507		11,894	
Other Misc. Revenues								
Miscellaneous Revenue	12,000		6,000		4,578		(1,422)	
Total Revenues	980,613		974,613		985,373		10,760	
Expenditures								
Financial & Administrative								
Accounting Services	17,841		8,921		8,921		0	
Administrative Services	6,381		3,190		3,190		0	
Arbitrage Rebate Calculation	1,000		500		500		0	
Assessment Roll	5,909		5,909		5,909		0	
Auditing Services	3,900		3,900		0		3,900	
Disclosure Report	2,000		1,000		1,000		0	
District Engineer	7,000		3,500		1,757		1,743	
District Management	17,727		8,864		8,864		0	
Dues, Licenses & Fees	175		175		175		0	
Financial & Revenue Collections	4,256		2,128		2,128		0	
Legal Advertising	1,500		750		526		224	
Miscellaneous Fees	500		250		496		(246)	
Public Officials Liability Insurance	3,500		3,500		3,361		139	
Trustees Fees	7,000		3,208		2,830		378	
Website Hosting, Maintenance, Backup	3,420		1,710		1,710		0	
& E								
Total Financial & Administrative	82,109		47,505		41,367		6,138	
Legal Counsel								
District Counsel	15,000		7,500		13,269		(5,769)	
Total Legal Counsel	15,000		7,500		13,269		(5,769)	
Security Operations								
Access Control / Security Camera Main-	50,251		25,125		41,422		(16,297)	
ten								
Gate Phone	2,000		1,000		837		163	
Guard & Gate Facility Maintenance &	11,000		5,500		9,326		(3,826)	
Repa								
Total Security Operations	63,251		31,625		51,585		(19,960)	
Electric Utility Services								
Utility - Recreation Facilities	15,500		7,750		6,681		1,069	
Utility - Street Lights	24,500		12,250		11,962		289	
Total Electric Utility Services	40,000		20,000		18,643		1,358	
Garbage/Solid Waste Control Services								
Garbage - Recreation Facility	3,500		1,750		1,727		23	
Total Garbage/Solid Waste Control Ser-	3,500		1,750		1,727		23	

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 03/31/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		03/31/2026		03/31/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
vices								
Water-Sewer Combination Services								
Utility - Reclaimed	46,000		23,000		22,805		195	
Utility - Water & Sewer	12,000		6,000		5,977		23	
Total Water-Sewer Combination Services	58,000		29,000		28,782		218	
Stormwater Control								
Aquatic Pond Maintenance	10,037		5,019		5,010		8	
Total Stormwater Control	10,037		5,019		5,010		8	
Other Physical Environment								
Entry & Walls Maintenance & Repair	5,000		2,500		0		2,500	
General Liability & Property Insurance	39,000		39,000		37,415		1,585	
Irrigation Repair	10,000		5,000		0		5,000	
Landscape & Irrigation Maintenance	166,201		83,100		83,100		1	
Contr								
Landscape Replacement Plants,	25,000		12,500		7,866		4,634	
Shrubs, Tr								
Total Other Physical Environment	245,201		142,100		128,381		13,720	
Road & Street Facilities								
Maintenance & Repairs	1,500		750		72		678	
Parking Lot/Roadway Repair & Mainte-	12,000		6,000		6,500		(500)	
nance								
Street Light/Decorative Light Mainte-	3,500		1,750		700		1,050	
nanc								
Street Sign Repair & Replacement	1,000		500		103		396	
Total Road & Street Facilities	18,000		9,000		7,375		1,624	
Parks & Recreation								
Amenity Facility - Maintenance & Repair	15,000		7,500		7,473		27	
Amenity Facility Janitorial Service Cont	15,000		7,500		7,218		283	
Amenity Management Service Contracts	173,415		86,708		86,791		(84)	
Common Areas Pressure Washing	6,000		3,000		0		3,000	
Dog Waste Station Supplies & Mainte-	2,000		1,000		546		454	
nance								
Elevator Maintenance & Permit	3,000		1,500		375		1,125	
Fitness Equipment Maintenance & Re-	2,500		1,250		1,106		144	
pair								
Furniture Repair & Replacement	4,000		2,000		0		2,000	
HVAC Maintenance Contract	3,000		2,400		2,500		(100)	
Pest Control & Termite Bond	1,750		875		1,699		(825)	
Pool Permits	350		175		0		176	
Pool Services - Chemicals/Per-	9,500		9,500		9,035		465	
mits/Suppli								
Security System Monitoring Services &	1,500		750		1,080		(330)	
Ma								
Telephone, Internet, Cable	8,000		4,000		3,892		108	
Tennis/Athletic Court/Park Maintenance	500		250		0		250	
Total Parks & Recreation	245,515		128,408		121,715		6,693	
Special Events								

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 03/31/2026 (In Whole Numbers)	
Year Ending 09/30/2026

Annual Budget		Through 03/31/2026

YTD Budget		Year To Date 03/31/2026

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

10,000		5,000
2,500

7,500		4,886
1,017

5,903		113
1,484

1,597	
Contingency
Capital Improvements Miscellaneous Contingency
Total Contingency
Total Expenditures	
25,000
165,000

190,000
980,613		
12,500
82,500

95,000
524,407		
468
0

468
424,225		
12,032
82,500

94,532
100,182	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
450,206		
561,148		
110,942	
Fund Balance, Beginning of Period	0		0		330,049		330,049	
Total Fund Balance, End of Period	0		450,206		891,197		440,991	

287 Debt Service Fund S2015

Southaven Community Development District
Statement of Revenues and Expenditures

As of 03/31/2026 (In Whole Numbers)	
	Year Ending 09/30/2026

Annual Budget		Through 03/31/2026

YTD Budget		Year To Date 03/31/2026

YTD Actual	YTD Variance	
Revenues								
Interest Earnings Interest Earnings	
0		
0		
4,687		
4,687	
Special Assessments Tax Roll
Total Revenues	
218,999
218,999		
218,999
218,999		
221,689
226,376		
2,689
7,376	
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		
62,726
85,000

147,726
147,726	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
0		
155,102		
155,102	
Fund Balance, Beginning of Period	0		0		245,095		245,095	
Total Fund Balance, End of Period	0		0		400,197		400,197	

287 Debt Service Fund S2016

Southaven Community Development District
Statement of Revenues and Expenditures

As of 03/31/2026 (In Whole Numbers)	
	Year Ending 09/30/2026

Annual Budget		Through 03/31/2026

YTD Budget		Year To Date 03/31/2026

YTD Actual	YTD Variance	
Revenues								
Interest Earnings Interest Earnings	
0		
0		
7,838		
7,838	
Special Assessments Tax Roll
Total Revenues	
304,819
304,819		
304,819
304,819		
308,563
316,401		
3,744
11,582	
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		
208,207		
208,207	
Fund Balance, Beginning of Period	0		0		415,522		415,522	
Total Fund Balance, End of Period	0		0		623,729		623,729	

287 Capital Projects Fund S2016

Revenues
Interest Earnings

Southaven Community Development District
Statement of Revenues and Expenditures As of 03/31/2026
(In Whole Numbers)
Year Ending	Through	Year To Date
09/30/2026	03/31/2026	03/31/2026
  
Annual Budget	YTD Budget	YTD Actual	YTD Variance

Interest Earnings	0		0		432		432	
Total Revenues	0		0		432		432	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
432		
432	
penditures
Fund Balance, Beginning of Period	
0		
0		
22,593		
22,593	
Total Fund Balance, End of Period	0		0		23,025		23,025	

Southaven CDD Investment Summary March 31, 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 March 31, 2026

259,386
125,994
31
11
10
431,143
171,877
48
101
9

988,610 	

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

Total Capital Projects Fund Investments	
$

 $		
23,025

23,025 	

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.

287, 2354

Southaven Community Development District Summary A/R Ledger
From 03/01/2026 to 03/31/2026
Fund_ID	Fund Name	Customer	Invoice Number AR Account	Date	Balance Due

287-001	287 General Fund	St Johns County	AR00002997	12110	10/01/2025	46,248.85	
		Tax Collector					
Sum for 287, 2354						46,248.85	
287, 2355							
287-200	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	10,456.70	
	Fund S2015	Tax Collector					
Sum for 287, 2355						10,456.70	
287, 2356							
287-201	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	14,554.40	
	Fund S2016	Tax Collector					
Sum for 287, 2356					14,554.40	
Sum for 287					71,259.95	
Sum Total					71,259.95	

See Notes to Unaudited Financial Statements

Southaven Community Development District	
Summary A/P Ledger	
From 03/01/2026 to 03/31/2026	
Fund Name	GL posting date	Vendor name	Document number Description	Balance Due	
287, 2354						
287 General Fund	03/01/2026	AT&T	323860823-031026	Internet Services	270.72	
				03/26		
287 General Fund	03/01/2026	COMCAST	8495741401213297-0 Phone Services 03/26	384.30	
			31826			
287 General Fund	03/01/2026	Smith Electrical, Inc.	40506	Maintenance & Re-	179.92	
				pairs 03/26		
287 General Fund	03/01/2026	St Johns Utility De-	559802132338-03192 Water Services 03/26	55.87	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802132340-03192 Water Services 03/26	79.76	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802132342-03192 Water Services 03/26	762.43	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802139106-03192 Water Services 03/26	62.79	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802132379-03192 Water Services 03/26	86.21	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	5598020133630-0319 Water Services 03/26	12.46	
		partment	26			
287 General Fund	03/01/2026	St Johns Utility De-	559802134615-03192 Water Services 03/26	37.38	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	2135720-03192	Water Services 03/26	275.54	
		partment	559806			
287 General Fund	03/01/2026	St Johns Utility De-	559802135721-03192 Water Services 03/26	638.38	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802135954-03192 Water Services 03/26	16.27	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802135956-03192 Water Services 03/26	12.49	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802135958-03192 Water Services 03/26	147.16	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802135961-03192 Water Services 03/26	12.46	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	5598002132336-0319 Water Services 03/26	87.22	
		partment	26			
287 General Fund	03/01/2026	St Johns Utility De-	559802132013-03192 Water Services 03/26	1,074.31	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802135959-03192 Water Services 03/26	62.30	
		partment	6			
287 General Fund	03/01/2026	St Johns Utility De-	559802132378-03192 Water Services 03/26	797.51	
		partment	6			
287 General Fund	03/01/2026	The Greenery of North 807190	Landscape Replace-	4,410.43	
		Florida, Inc.		ment 03/26		
287 General Fund	03/01/2026	USA TODAY Media	0007644974	Legal Advertising	250.80	
		Corp		03/26		
287 General Fund	03/01/2026	VGlobal Tech	8256	Website Compliance &	175.00	
				Management 03/26		
Sum for 287, 2354					9,891.71	
Sum for 287					9,891.71	
Sum Total					9,891.71	

Southaven Community Development District Notes to Unaudited Financial Statements March 31, 2026

Balance Sheet

Trust statement activity has been recorded through 03/31/26.
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.