Southaven Community Development District

Financial Statements (Unaudited)

April 30, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven	Community Development District									
Balance Sheet	
As of 04/30/2026	
(In Whole Numbers)	
								General	nd	Debt Service	nd		Capital Project	nd		Total Gvmnt	nd		ixed Assets Group		Long-Term	ebt	
Assets	
Cash In Bank						822,204	9,172			0		831,376		0			0	
Investments								0	156,950		23,025		179,975		0			0	
Accounts Receivable					29,288	15,839			0		45,127		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		181,961	
Amount To Be Provided	Debt Service		0		0			0			0		0		5,266,039	
Total Assets							859,428	181,961		23,025		1,064,414		16,003,359		5,448,000	
Liabilities	
Accounts Payable					12,967		0			0		12,967		0			0	
Accrued Expenses					19,670		0			0		19,670		0			0	
Other Current Liabilities				51		0			0			51		0			0	
Revenue Bonds Payable-Long Term		0		0			0			0		0		5,448,000	
Deposits Payable						600		0			0			600		0			0	
Total Liabilities						33,288		0			0		33,288		0		5,448,000	

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		496,090	(478,655)			432		17,867		0			0	
Total	nd  Equity & Other Credits	826,139	181,961		23,025		1,031,125		16,003,359			0	

Total Liabilities &	
nd  Equity	
859,428	
181,961		
23,025		
1,064,414		
16,003,359		
5,448,000	

See Notes to Unaudited inancial Statements

As of 04/30/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		04/30/2026		04/30/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Revenues								
Interest Earnings								
Interest Earnings	0		0		350		350	
Special Assessments								
Tax Roll	968,613		968,613		981,355		12,742	
Other Misc. Revenues								
Miscellaneous Revenue	12,000		7,000		6,063		(937)	
Total Revenues	980,613		975,613		987,768		12,155	
Expenditures								
Financial & Administrative								
Accounting Services	17,841		10,407		10,407		0	
Administrative Services	6,381		3,723		3,722		0	
Arbitrage Rebate Calculation	1,000		1,000		500		500	
Assessment Roll	5,909		5,909		5,909		0	
Auditing Services	3,900		3,900		3,900		0	
Disclosure Report	2,000		1,166		1,167		0	
District Engineer	7,000		4,084		1,857		2,227	
District Management	17,727		10,340		10,341		0	
Dues, Licenses & Fees	175		175		175		0	
Financial & Revenue Collections	4,256		2,483		2,482		0	
Legal Advertising	1,500		875		617		258	
Miscellaneous Fees	500		292		591		(300)	
Public Officials Liability Insurance	3,500		3,500		3,361		139	
Trustees Fees	7,000		3,208		2,830		379	
Website Hosting, Maintenance, Backup	3,420		1,995		1,995		0	
& E								
Total Financial & Administrative	82,109		53,057		49,854		3,203	
Legal Counsel								
District Counsel	15,000		8,750		19,210		(10,460)	
Total Legal Counsel	15,000		8,750		19,210		(10,460)	
Security Operations								
Access Control / Security Camera Main-	50,251		29,313		46,422		(17,109)	
ten								
Gate Phone	2,000		1,167		1,005		162	
Guard & Gate Facility Maintenance &	11,000		6,416		9,326		(2,910)	
Repa								
Total Security Operations	63,251		36,896		56,753		(19,857)	
Electric Utility Services								
Utility - Recreation Facilities	15,500		9,042		7,781		1,262	
Utility - Street Lights	24,500		14,292		13,700		590	
Total Electric Utility Services	40,000		23,334		21,481		1,852	
Garbage/Solid Waste Control Services								
Garbage - Recreation Facility	3,500		2,041		2,034		8	
Total Garbage/Solid Waste Control Ser-	3,500		2,041		2,034		8	

See Notes to Unaudited Financial Statements

As of 04/30/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		04/30/2026		04/30/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
vices								
Water-Sewer Combination Services								
Utility - Reclaimed	46,000		26,834		26,693		141	
Utility - Water & Sewer	12,000		7,000		6,924		76	
Total Water-Sewer Combination Services	58,000		33,834		33,617		217	
Stormwater Control								
Aquatic Pond Maintenance	10,037		5,855		5,845		9	
Total Stormwater Control	10,037		5,855		5,845		9	
Other Physical Environment								
Entry & Walls Maintenance & Repair	5,000		2,916		0		2,917	
General Liability & Property Insurance	39,000		39,000		37,415		1,585	
Irrigation Repair	10,000		5,834		0		5,833	
Landscape & Irrigation Maintenance	166,201		96,950		96,951		1	
Contr								
Landscape Replacement Plants,	25,000		14,584		7,866		6,717	
Shrubs, Tr								
Total Other Physical Environment	245,201		159,284		142,232		17,053	
Road & Street Facilities								
Maintenance & Repairs	1,500		875		72		803	
Parking Lot/Roadway Repair & Mainte-	12,000		7,000		6,500		500	
nance								
Street Light/Decorative Light Mainte-	3,500		2,041		700		1,342	
nanc								
Street Sign Repair & Replacement	1,000		584		103		480	
Total Road & Street Facilities	18,000		10,500		7,375		3,125	
Parks & Recreation								
Amenity Facility - Maintenance & Repair	15,000		8,750		11,905		(3,155)	
Amenity Facility Janitorial Service Cont	15,000		8,750		8,302		448	
Amenity Management Service Contracts	173,415		101,158		101,337		(179)	
Common Areas Pressure Washing	6,000		3,500		0		3,500	
Dog Waste Station Supplies & Mainte-	2,000		1,167		688		479	
nance								
Elevator Maintenance & Permit	3,000		1,750		375		1,375	
Fitness Equipment Maintenance & Re-	2,500		1,458		1,106		352	
pair								
Furniture Repair & Replacement	4,000		2,334		0		2,333	
HVAC Maintenance Contract	3,000		2,550		2,500		50	
Pest Control & Termite Bond	1,750		1,020		1,793		(771)	
Pool Permits	350		205		0		204	
Pool Services - Chemicals/Per-	9,500		9,500		9,092		408	
mits/Suppli								
Security System Monitoring Services &	1,500		875		1,105		(230)	
Ma								
Telephone, Internet, Cable	8,000		4,666		4,546		120	
Tennis/Athletic Court/Park Maintenance	500		292		2,930		(2,638)	
Total Parks & Recreation	245,515		147,975		145,679		2,296	
Special Events								

See Notes to Unaudited Financial Statements

As of 04/30/2026 (In Whole Numbers)	
Year Ending 09/30/2026

Annual Budget		Through 04/30/2026

YTD Budget		Year To Date 04/30/2026

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

10,000		5,000
2,917

7,917		4,886
2,244

7,130		114
673

787	
Contingency
Capital Improvements Miscellaneous Contingency
Total Contingency
Total Expenditures	
25,000
165,000

190,000
980,613		
14,583
96,250

110,833
600,276		
468
0

468
491,678		
14,115
96,250

110,365
108,598	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
375,337		
496,090		
120,753	
Fund Balance, Beginning of Period	0		0		330,049		330,049	
Total Fund Balance, End of Period	0		375,337		826,139		450,802	

See Notes to Unaudited Financial Statements

Interest Earnings
Interest Earnings	0		0		5,848		5,848	
Special Assessments Tax Roll	
218,999		
218,999		
221,880		
2,881	
Total Revenues	218,999		218,999		227,728		8,729	
Expenditures								

0	0	11,235	(11,235)	
0	0	2,500	(2,500)	
0	0	33,705	(33,705)	
0	0	12,500	(12,500)	
0	0	1,250	(1,250)	

Financial & Administrative Bank Fees
District Management Placement Agent Fee
Special Assessment Allocation Report Verification Agent
Total Financial & Administrative
Legal Counsel	0		0		61,190		(61,190)	
Bank Counsel	0		0		6,250		(6,250)	
Bond Counsel	0		0		20,000		(20,000)	
District Counsel	0		0		25,000		(25,000)	
Trustee Counsel	0		0		4,000		(4,000)	
Total Legal Counsel	0		0		55,250		(55,250)	
Debt Service								
Interest	133,999		133,999		71,273		62,726	
Principal	85,000		85,000		0		85,000	
Total Debt Service	218,999		218,999		71,273		147,726	
Total Expenditures	218,999		218,999		187,713		31,286	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
40,015		
40,015	
penditures
Total Other Financing Sources(Uses)					
Other Costs
Bond Retirement	0	0	(2,456,274)	(2,456,274)	
Debt Proceeds					
Bond Proceeds	0		0		2,247,000		2,247,000	
Total Debt Proceeds	0		0		2,247,000		2,247,000	
Total Other Financing Sources(Uses)	0		0		(209,274)		(209,274)	
Fund Balance, Beginning of Period	0		0		245,095		245,095	
Total Fund Balance, End of Period	0		0		75,836		75,836	

See Notes to Unaudited Financial Statements

Interest Earnings
Interest Earnings	0		0		9,656		9,656	
Special Assessments Tax Roll	
304,819		
304,819		
308,830		
4,011	
Total Revenues	304,819		304,819		318,486		13,667	
Expenditures								

0	0	16,005	(16,005)	
0	0	2,500	(2,500)	
0	0	48,015	(48,015)	
0	0	12,500	(12,500)	
0	0	1,250	(1,250)	

Financial & Administrative Bank Fees
District Management Placement Agent Fee
Special Assessment Allocation Report Verification Agent
Total Financial & Administrative
Legal Counsel	0		0		80,270		(80,270)	
Bank Counsel	0		0		6,250		(6,250)	
Bond Counsel	0		0		20,000		(20,000)	
District Counsel	0		0		25,000		(25,000)	
Trustee Counsel	0		0		4,000		(4,000)	
Total Legal Counsel	0		0		55,250		(55,250)	
Debt Service								
Interest	224,819		224,819		108,194		116,625	
Principal	80,000		80,000		0		80,000	
Total Debt Service	304,819		304,819		108,194		196,625	
Total Expenditures	304,819		304,819		243,714		61,105	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
74,772		
74,772	
penditures
Total Other Financing Sources(Uses)					
Other Costs
Bond Retirement	0	0	(3,585,168)	(3,585,168)	
Debt Proceeds					
Bond Proceeds	0		0		3,201,000		3,201,000	
Total Debt Proceeds	0		0		3,201,000		3,201,000	
Total Other Financing Sources(Uses)	0		0		(384,168)		(384,168)	
Fund Balance, Beginning of Period	0		0		415,521		415,521	
Total Fund Balance, End of Period	0		0		106,125		106,125	

See Notes to Unaudited Financial Statements

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	

See Notes to Unaudited Financial Statements

	Southaven CDD Investment Summary April 30, 2026			
			
Balance as of	
Account	Investment		April 30, 2026	
Hancock Back Revenue S2015 A-1	Goldman Sachs Gov't Fund-Class Inst(#465)	$	5,280	
Hancock Bank Reserve S2015 A-1	Goldman Sachs Gov't Fund-Class Inst(#465)		381	
Hancock Bank Revenue S2016 A-1	Goldman Sachs Gov't Fund-Class Inst(#465)		7,561	
Hancock Bank Reserve S2016 A-1	Goldman Sachs Gov't Fund-Class Inst(#465)		520	
Hancock Bank Interest S2026-1	Goldman Sachs Gov't Fund-Class Inst(#465)		54,490	
Hancock Bank Interest S2026-2	Goldman Sachs Gov't Fund-Class Inst(#465)		77,624	
Hancock Bank COI S2026-1	Goldman Sachs Gov't Fund-Class Inst(#465)		5,228	
Hancock Bank COI S2026-2	Goldman Sachs Gov't Fund-Class Inst(#465)		5,866	
	Total Debt Service Fund Investments	$	156,950	

Hancock Bank Construction S2026-2	

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

$	

23,025	
	Total Capital Projects Fund Investments	$	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.

Fund_ID	Fund Name	Customer	Invoice Number AR Account	Date	Balance Due
287, 2354
287-001	287 General Fund	St Johns County	AR00002997	12110	10/01/2025	29,287.82	
		Tax Collector					
Sum for 287, 2354						29,287.82	
287, 2355							
287-200	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	6,621.88	
	Fund	Tax Collector					
	S2015/S2026-1						
Sum for 287, 2355						6,621.88	
287, 2356							
287-201	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	9,216.81	
	Fund	Tax Collector					
	S2016/S2026-2						
Sum for 287, 2356					9,216.81	
Sum for 287					45,126.51	
Sum Total					45,126.51	

See Notes to Unaudited Financial Statements

Fund Name	GL posting date	Vendor name	Document number Description	Balance Due
287, 2354						
287 General Fund	04/01/2026	AT&T	323860823-041026	Internet Services	270.51	
				04/26		
287 General Fund	04/01/2026	C BUSS Enterprises,	6138	Maintenance & Repair	250.00	
		Inc.		04/26		
287 General Fund	04/01/2026	COMCAST	8495741401213297-0 Phone Services 04/26	384.30	
			41726			
287 General Fund	04/01/2026	Hallco Heating & Air	38965442	Maintenance & Re-	601.00	
		LLC dba John D. Hall		pairs 04/26		
287 General Fund	04/01/2026	Hallco Heating & Air	38965570	Maintenance & Re-	2,584.00	
		LLC dba John D. Hall		pairs 04/26		
287 General Fund	04/01/2026	McDirmit Davis &	63636	Audit Services	3,900.00	
		Company, LLC		FY24/25		
287 General Fund	04/01/2026	St Johns County	87217	Security System Moni-	25.00	
		Alarm Program		toring 09/25		
287 General Fund	04/01/2026	St Johns Utility De-	559802132342-04192 Water Services 04/26	811.64	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132378-04192 Water Services 04/26	843.31	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132379-04192 Water Services 04/26	87.97	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802133630-04192 Water Services 04/26	12.46	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802134615-04192 Water Services 04/26	31.91	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135720-04192 Water Services 04/26	270.99	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135721-04192 Water Services 04/26	911.18	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135954-04192 Water Services 04/26	16.19	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135956-04192 Water Services 04/26	12.46	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135961-04192 Water Services 04/26	12.46	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135958-04192 Water Services 04/26	177.10	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802135959-04192 Water Services 04/26	62.50	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802139106-04192 Water Services 04/26	57.35	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132336-04192 Water Services 04/26	87.22	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132013-04192 Water Services 04/26	1,154.65	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132338-04192 Water Services 04/26	56.91	
		partment	6			
287 General Fund	04/01/2026	St Johns Utility De-	559802132340-04192 Water Services 04/26	228.99	
		partment	6			
287 General Fund	04/01/2026	USA TODAY Media	0007690503	Legal Advertising	90.40	
		Corp		04/26		
287 General Fund	04/01/2026	Vesta Property Ser-	432288	Management Services	26.68	
		vices, Inc.		04/26		
Sum for 287, 2354					12,967.18	
Sum for 287					12,967.18	
Sum Total					12,967.18	

Southaven Community Development District Notes to Unaudited Financial Statements April 30, 2026

Balance Sheet

Trust statement activity has been recorded through 04/30/2026.
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.