Southaven Community Development District

Financial Statements (Unaudited)

May 31, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven	Community Development District										
Balance Sheet	
As of 05/31/2026	
(In Whole Numbers)	
									General	nd	Debt Service	nd		Capital Project	nd		Total Gvmnt	nd		ixed	Assets Group		Long-Term	ebt	
Assets																			
Cash In Bank						752,831	9,172			0		762,003			0			0	
Investments								0	158,797		23,025		181,822			0			0	
Accounts Receivable					29,288	15,838			0		45,126			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		183,807	
Amount To Be Provided	Debt Service		0		0			0			0			0		5,264,193	
Total Assets							790,055	183,807		23,025		996,887			16,003,359		5,448,000	
Liabilities																			
Accounts Payable					30,183		0			0		30,183			0			0	
Accrued	Expenses					10,300		0			0		10,300			0			0	
Other Current Liabilities				25		0			0			25			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						41,108		0			0		41,108			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		418,897	(476,809)			432		(57,479)			0			0	
Total	nd  Equity & Other Credits	748,946	183,807		23,025		955,779			16,003,359			0	

Total Liabilities &	
nd  Equity	
790,055	
183,807		
23,025		
996,887			
16,003,359		
5,448,000	

See Notes to Unaudited inancial Statements

As of 05/31/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		05/31/2026		05/31/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Revenues								
Interest Earnings								
Interest Earnings	0		0		374		374	
Special Assessments								
Tax Roll	968,613		968,613		981,355		12,742	
Other Misc. Revenues								
Miscellaneous Revenue	12,000		8,000		7,458		(542)	
Total Revenues	980,613		976,613		989,187		12,574	
Expenditures								
Financial & Administrative								
Accounting Services	17,841		11,894		11,894		0	
Administrative Services	6,381		4,254		4,254		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		1,333		1,166		167	
District Engineer	7,000		4,667		2,157		2,510	
District Management	17,727		11,818		11,818		0	
Dues, Licenses & Fees	175		175		175		0	
Financial & Revenue Collections	4,256		2,837		2,838		0	
Legal Advertising	1,500		1,000		683		316	
Miscellaneous Fees	500		334		696		(362)	
Public Officials Liability Insurance	3,500		3,500		3,361		139	
Trustees Fees	7,000		7,000		6,330		670	
Website Hosting, Maintenance, Backup	3,420		2,280		2,280		0	
& E								
Total Financial & Administrative	82,109		61,901		57,961		3,940	
Legal Counsel								
District Counsel	15,000		10,000		20,210		(10,210)	
Total Legal Counsel	15,000		10,000		20,210		(10,210)	
Security Operations								
Access Control / Security Camera Main-	50,251		33,500		56,349		(22,848)	
ten								
Gate Phone	2,000		1,334		1,172		161	
Guard & Gate Facility Maintenance &	11,000		7,333		16,161		(8,827)	
Repa								
Total Security Operations	63,251		42,167		73,682		(31,514)	
Electric Utility Services								
Utility - Recreation Facilities	15,500		10,333		9,031		1,301	
Utility - Street Lights	24,500		16,334		16,740		(406)	
Total Electric Utility Services	40,000		26,667		25,771		895	
Garbage/Solid Waste Control Services								
Garbage - Recreation Facility	3,500		2,333		2,340		(7)	
Total Garbage/Solid Waste Control Ser-	3,500		2,333		2,340		(7)	

As of 05/31/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		05/31/2026		05/31/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
vices								
Water-Sewer Combination Services								
Utility - Reclaimed	46,000		30,667		31,301		(634)	
Utility - Water & Sewer	12,000		8,000		7,890		110	
Total Water-Sewer Combination Services	58,000		38,667		39,191		(524)	
Stormwater Control								
Aquatic Pond Maintenance	10,037		6,691		6,680		11	
Total Stormwater Control	10,037		6,691		6,680		11	
Other Physical Environment								
Entry & Walls Maintenance & Repair	5,000		3,334		0		3,334	
General Liability & Property Insurance	39,000		39,000		37,415		1,585	
Irrigation Repair	10,000		6,666		0		6,666	
Landscape & Irrigation Maintenance	166,201		110,801		110,800		1	
Contr								
Landscape Replacement Plants,	25,000		16,666		7,866		8,800	
Shrubs, Tr								
Total Other Physical Environment	245,201		176,467		156,081		20,386	
Road & Street Facilities								
Maintenance & Repairs	1,500		1,000		72		928	
Parking Lot/Roadway Repair & Mainte-	12,000		8,000		6,500		1,500	
nance								
Street Light/Decorative Light Mainte-	3,500		2,334		4,180		(1,846)	
nanc								
Street Sign Repair & Replacement	1,000		666		103		563	
Total Road & Street Facilities	18,000		12,000		10,855		1,145	
Parks & Recreation								
Amenity Facility - Maintenance & Repair	15,000		10,000		14,476		(4,476)	
Amenity Facility Janitorial Service Cont	15,000		10,000		9,270		731	
Amenity Management Service Contracts	173,415		115,610		115,812		(203)	
Common Areas Pressure Washing	6,000		4,000		5,252		(1,252)	
Dog Waste Station Supplies & Mainte-	2,000		1,334		732		602	
nance								
Elevator Maintenance & Permit	3,000		2,000		375		1,625	
Fitness Equipment Maintenance & Re-	2,500		1,666		1,107		560	
pair								
Furniture Repair & Replacement	4,000		2,667		0		2,666	
HVAC Maintenance Contract	3,000		2,700		2,500		200	
Pest Control & Termite Bond	1,750		1,167		1,885		(718)	
Pool Permits	350		233		350		(117)	
Pool Services - Chemicals/Per-	9,500		9,500		9,092		408	
mits/Suppli								
Security System Monitoring Services &	1,500		1,000		1,105		(105)	
Ma								
Telephone, Internet, Cable	8,000		5,333		5,202		132	
Tennis/Athletic Court/Park Maintenance	500		334		2,929		(2,597)	
Total Parks & Recreation	245,515		167,544		170,087		(2,544)	
Special Events								

As of 05/31/2026 (In Whole Numbers)	
Year Ending 09/30/2026

Annual Budget		Through 05/31/2026

YTD Budget		Year To Date 05/31/2026

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

10,000		5,000
3,333

8,333		4,887
2,077

6,964		114
1,256

1,370	
Contingency
Capital Improvements Miscellaneous Contingency
Total Contingency
Total Expenditures	
25,000
165,000

190,000
980,613		
16,667
110,000

126,667
679,437		
468
0

468
570,290		
16,199
110,000

126,199
109,147	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
297,176		
418,897		
121,721	
Fund Balance, Beginning of Period	0		0		330,049		330,049	
Total Fund Balance, End of Period	0		297,176		748,946		451,770	

Interest Earnings
Interest Earnings	0		0		6,532		6,532	
Special Assessments Tax Roll	
218,999		
218,999		
221,880		
2,881	
Total Revenues	218,999		218,999		228,412		9,413	
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		
40,699		
40,699	
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		76,520		76,520	

Interest Earnings
Interest Earnings	0		0		10,713		10,713	
Special Assessments Tax Roll	
304,819		
304,819		
308,830		
4,011	
Total Revenues	304,819		304,819		319,543		14,724	
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		
75,829		
75,829	
penditures
Total Other Financing Sources(Uses) Interfund Transfer (Revenue)

0	0	106	106	
0	0	(3,585,169)	(3,585,169)	
0	0	3,201,000	3,201,000	

Interfund Transfer Other Costs
Bond Retirement Debt Proceeds
Bond Proceeds
Total Debt Proceeds	0		0		3,201,000		3,201,000	
Total Other Financing Sources(Uses)	0		0		(384,063)		(384,063)	
Fund Balance, Beginning of Period	0		0		415,521		415,521	
Total Fund Balance, End of Period	0		0		107,287		107,287	

Revenues	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Interest Earnings Interest Earnings
Total Revenues	
0
0		
0
0		
538
538		
538
538	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
0		
538		
538	
Total Other Financing Sources(Uses) Interfund Transfer (Expense)
Interfund Transfer
Total Other Financing Sources(Uses)	

0
0		

0
0		

(106)
(106)		

(106)
(106)	
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 May 31, 2026			

Account	

Investment		
Balance as of May 31, 2026	
Hancock Back Revenue S2026-1	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	$	6,269	
Hancock Bank Interest S2026-1			54,559	
Hancock Bank Revenue S2026-2			9,138	
Hancock Bank Interest S2026-2			77,723	
Hancock Bank COI S2026-1			5,235	
Hancock Bank COI S2026-2			5,873	
		$	158,797	

Hancock Bank Construction S2026-2	

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.

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	05/01/2026	AT&T	323860823-051026	Internet Services	270.51	
				05/26		
287 General Fund	05/01/2026	Coastal Wildlife & Pest62891	Maintenance & Repair	299.00	
		Services LLC		05/26		
287 General Fund	05/01/2026	COMCAST	8495741401213297-0 Phone Services 05/26	384.30	
			51726			
287 General Fund	05/01/2026	Crime Prevention Se- MAS-2417229	Access Control 05/26	19,926.98	
		curity Systems of Or-				
		lando, LLC				
287 General Fund	05/01/2026	Smith Electrical, Inc.	40742	Light Maintenance &	3,479.77	
				Repair 05/26		
287 General Fund	05/01/2026	St Johns Utility De-	559802135958-05192 Water Services 05/26	135.39	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135954-05192 Water Services 05/26	16.56	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135721-05192 Water Services 05/26	823.95	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802134615-05192 Water Services 05/26	37.38	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802133630-05192 Water Services 05/26	12.46	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132379-05192 Water Services 05/26	133.24	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132378-05192 Water Services 05/26	816.13	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132342-05192 Water Services 05/26	1,175.30	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132340-05192 Water Services 05/26	253.96	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132338-05192 Water Services 05/26	70.99	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132336-05192 Water Services 05/26	87.22	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135956-05192 Water Services 05/26	36.88	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135961-05192 Water Services 05/26	12.46	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802139106-05192 Water Services 05/26	113.20	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135959-05192 Water Services 05/26	62.30	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802132013-05192 Water Services 05/26	1,377.48	
		partment	6			
287 General Fund	05/01/2026	St Johns Utility De-	559802135720-05192 Water Services 05/26	408.59	
		partment	6			
287 General Fund	05/01/2026	Turner Pest Control,	622225243	Pest Control 05/26	93.00	
		LLC				
287 General Fund	05/01/2026	USA TODAY Media	0007734496	Legal Advertising	67.28	
		Corp		05/26		
287 General Fund	05/01/2026	Vesta Property Ser-	432749	Management Services	23.78	
		vices, Inc.		05/26		
287 General Fund	05/01/2026	Wayne Automatic Fire 1317618	Sprinkler Inspection	65.00	
		Sprinklers, Inc.		05/26		
Sum for 287, 2354					30,183.11	
Sum for 287					30,183.11	
Sum Total					30,183.11	

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

Balance Sheet

Trust statement activity has been recorded through 05/31/26.
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.

Summary A/R Ledger – Subsequent Collections

General Fund - Payment for Invoice AR00002997 in the amount of $4,937.48 was received in June 2026.
Debt Service Fund S2015 - Payment for Invoice AR00002997 in the amount of $1,116.34 was received in June 2026.
Debt Service Fund S2016 - Payment for Invoice AR00002997 in the amount of $1,553.81 was received in June 2026.