Southaven Community Development District

Financial Statements (Unaudited)

June 30, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven	Community Development District									
Balance Sheet	
As of 06/30/2026	
(In Whole Numbers)	
								General	nd	Debt Service	nd		Capital Project	nd		Total Gvmnt	nd		ixed Assets Group		Long-Term	ebt	
Assets	
Cash In Bank						690,646	2,670			0		693,316		0			0	
Investments								0	163,411		23,025		186,436		0			0	
Accounts Receivable					24,350	13,168			0		37,518		0			0	
Prepaid Expenses					4,425		0			0		4,426		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		179,249	
Amount To Be Provided	Debt Service		0		0			0			0		0		5,268,751	
Total Assets							722,932	179,249		23,025		925,207		16,003,359		5,448,000	
Liabilities	
Accounts Payable					11,458		0			0		11,458		0			0	
Accrued Expenses					23,300		0			0		23,300		0			0	
Other Current Liabilities				29		0			0			29		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						35,387		0			0		35,387		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		357,496	(481,367)			432		(123,438)		0			0	
Total	nd  Equity & Other Credits	687,545	179,249		23,025		889,820		16,003,359			0	

Total Liabilities &	
nd  Equity	
722,932	
179,249		
23,025		
925,207		
16,003,359		
5,448,000	

See Notes to Unaudited inancial Statements

As of 06/30/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		06/30/2026		06/30/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
Revenues								
Interest Earnings								
Interest Earnings	0		0		536		536	
Special Assessments								
Tax Roll	968,613		968,613		981,356		12,743	
Other Misc. Revenues								
Miscellaneous Revenue	12,000		9,000		8,309		(691)	
Total Revenues	980,613		977,613		990,201		12,588	
Expenditures								
Financial & Administrative								
Accounting Services	17,841		13,381		13,380		0	
Administrative Services	6,381		4,786		4,786		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		1,500		1,167		334	
District Engineer	7,000		5,250		2,619		2,630	
District Management	17,727		13,295		13,295		0	
Dues, Licenses & Fees	175		175		217		(41)	
Financial & Revenue Collections	4,256		3,192		3,192		0	
Legal Advertising	1,500		1,125		789		335	
Miscellaneous Fees	500		375		740		(365)	
Public Officials Liability Insurance	3,500		3,500		3,361		139	
Trustees Fees	7,000		7,000		5,087		1,913	
Website Hosting, Maintenance, Backup	3,420		2,565		2,565		0	
& E								
Total Financial & Administrative	82,109		66,953		61,507		5,445	
Legal Counsel								
District Counsel	15,000		11,250		22,713		(11,462)	
Total Legal Counsel	15,000		11,250		22,713		(11,462)	
Security Operations								
Access Control / Security Camera Main-	50,251		37,688		71,349		(33,661)	
ten								
Gate Phone	2,000		1,500		1,340		160	
Guard & Gate Facility Maintenance &	11,000		8,250		16,160		(7,910)	
Repa								
Total Security Operations	63,251		47,438		88,849		(41,411)	
Electric Utility Services								
Utility - Recreation Facilities	15,500		11,625		10,206		1,419	
Utility - Street Lights	24,500		18,375		18,834		(458)	
Total Electric Utility Services	40,000		30,000		29,040		961	
Garbage/Solid Waste Control Services								
Garbage - Recreation Facility	3,500		2,625		2,960		(336)	
Total Garbage/Solid Waste Control Ser-	3,500		2,625		2,960		(336)	

As of 06/30/2026	
(In Whole Numbers)	
	Year Ending		Through		Year To Date	
	09/30/2026		06/30/2026		06/30/2026	
	Annual Budget		YTD Budget		YTD Actual		YTD Variance	
vices								
Water-Sewer Combination Services								
Utility - Reclaimed	46,000		34,500		36,563		(2,063)	
Utility - Water & Sewer	12,000		9,000		8,792		208	
Total Water-Sewer Combination Services	58,000		43,500		45,355		(1,855)	
Stormwater Control								
Aquatic Pond Maintenance	10,037		7,528		7,515		13	
Total Stormwater Control	10,037		7,528		7,515		13	
Other Physical Environment								
Entry & Walls Maintenance & Repair	5,000		3,750		0		3,750	
General Liability & Property Insurance	39,000		39,000		37,415		1,585	
Irrigation Repair	10,000		7,500		0		7,500	
Landscape & Irrigation Maintenance	166,201		124,651		124,650		0	
Contr								
Landscape Replacement Plants,	25,000		18,750		7,866		10,884	
Shrubs, Tr								
Total Other Physical Environment	245,201		193,651		169,931		23,719	
Road & Street Facilities								
Maintenance & Repairs	1,500		1,125		72		1,053	
Parking Lot/Roadway Repair & Mainte-	12,000		9,000		6,500		2,500	
nance								
Street Light/Decorative Light Mainte-	3,500		2,625		4,180		(1,554)	
nanc								
Street Sign Repair & Replacement	1,000		750		103		646	
Total Road & Street Facilities	18,000		13,500		10,855		2,645	
Parks & Recreation								
Amenity Facility - Maintenance & Repair	15,000		11,250		14,411		(3,160)	
Amenity Facility Janitorial Service Cont	15,000		11,250		10,082		1,168	
Amenity Management Service Contracts	173,415		130,061		130,297		(236)	
Common Areas Pressure Washing	6,000		4,500		5,252		(752)	
Dog Waste Station Supplies & Mainte-	2,000		1,500		852		648	
nance								
Elevator Maintenance & Permit	3,000		2,250		375		1,875	
Fitness Equipment Maintenance & Re-	2,500		1,875		1,107		768	
pair								
Furniture Repair & Replacement	4,000		3,000		0		3,000	
HVAC Maintenance Contract	3,000		2,850		2,500		350	
Pest Control & Termite Bond	1,750		1,312		1,978		(666)	
Pool Permits	350		263		350		(87)	
Pool Services - Chemicals/Per-	9,500		9,500		9,092		408	
mits/Suppli								
Security System Monitoring Services &	1,500		1,125		1,105		20	
Ma								
Telephone, Internet, Cable	8,000		6,000		5,854		146	
Tennis/Athletic Court/Park Maintenance	500		375		2,930		(2,555)	
Total Parks & Recreation	245,515		187,111		186,185		927	
Special Events								

As of 06/30/2026 (In Whole Numbers)	
Year Ending 09/30/2026

Annual Budget		Through 06/30/2026

YTD Budget		Year To Date 06/30/2026

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

10,000		5,000
3,750

8,750		4,886
2,441

7,327		114
1,309

1,423	
Contingency
Capital Improvements Miscellaneous Contingency
Total Contingency
Total Expenditures	
25,000
165,000

190,000
980,613		
18,750
123,750

142,500
754,806		
468
0

468
632,705		
18,282
123,750

142,032
122,101	

Total Excess of Revenues Over(Under) Ex-penditures	
0		
222,807		
357,496		
134,689	
Fund Balance, Beginning of Period	0		0		330,049		330,049	
Total Fund Balance, End of Period	0		222,807		687,545		464,738	

Interest Earnings
Interest Earnings	0		0		6,716		6,716	
Special Assessments Tax Roll	
218,999		
218,999		
221,880		
2,881	
Total Revenues	218,999		218,999		228,596		9,597	
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	2,500	(2,500)	
0	0	1,250	(1,250)	

Financial & Administrative Bank Fees
District Management Placement Agent Fee
Special Assessment Allocation Report Trustees Fees
Verification Agent
Total Financial & Administrative
Legal Counsel	0		0		63,690		(63,690)	
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		190,213		28,786	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
38,383		
38,383	
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		74,204		74,204	

Interest Earnings
Interest Earnings	0		0		10,971		10,971	
Special Assessments Tax Roll	
304,819		
304,819		
308,830		
4,010	
Total Revenues	304,819		304,819		319,801		14,981	
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	2,500	(2,500)	
0	0	1,250	(1,250)	

Financial & Administrative Bank Fees
District Management Placement Agent Fee
Special Assessment Allocation Report Trustees Fees
Verification Agent
Total Financial & Administrative
Legal Counsel	0		0		82,770		(82,770)	
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		116,626	
Principal	80,000		80,000		0		80,000	
Total Debt Service	304,819		304,819		108,194		196,626	
Total Expenditures	304,819		304,819		246,214		58,606	

Total Excess of Revenues Over(Under) Ex-	
0		
0		
73,587		
73,587	
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		105,045		105,045	

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		

(105)
(105)		

(105)
(105)	
Fund Balance, Beginning of Period	0		0		22,592		22,592	
Total Fund Balance, End of Period	0		0		23,025		23,025	

Southaven CDD Investment Summary June 30, 2026	

Account

Hancock Back Revenue S2015 A-1 Hancock Bank Reserve S2015 A-1 Hancock Bank Revenue S2016 A-1 Hancock Bank Reserve S2016 A-1
Hancock Back Revenue S2026-1 Hancock Bank Interest S2026-1 Hancock Bank Revenue S2026-2 Hancock Bank Interest S2026-2 Hancock Bank COI S2026-1 Hancock Bank COI S2026-2	

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 June 30, 2026

15
2
22
2
10,106
54,710
14,478
77,937
2,750
3,389
163,411	

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	24,350.34	
		Tax Collector					
Sum for 287, 2354						24,350.34	
287, 2355							
287-200	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	5,505.54	
	Fund	Tax Collector					
	S2015/S2026-1						
Sum for 287, 2355						5,505.54	
287, 2356							
287-201	287 Debt Service	St Johns County	AR00002997	12110	10/01/2025	7,663.00	
	Fund	Tax Collector					
	S2016/S2026-2						
Sum for 287, 2356					7,663.00	
Sum for 287					37,518.88	
Sum Total					37,518.88	

See Notes to Unaudited Financial Statements

Fund Name	GL posting date	Vendor name	Document number Description	Balance Due
287, 2354						
287 General Fund	06/01/2026	AT&T	323860823-061026	Internet Services	270.51	
				06/26		
287 General Fund	06/01/2026	COMCAST	8495741401213297-0 Phone Services 06/26	382.15	
			61726			
287 General Fund	06/01/2026	Kutak Rock, LLP	3763716	Legal Services 03/26	2,312.53	
287 General Fund	06/01/2026	Kutak Rock, LLP	3763715	Legal Services 04/26	2,190.13	
287 General Fund	06/01/2026	St Johns Utility De-	559802135954-06192 Water Services 06/26	16.27	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135961-06192 Water Services 06/26	12.46	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802134615-06192 Water Services 06/26	37.38	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132338-06192 Water Services 06/26	55.84	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135959-06192 Water Services 06/26	69.39	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132336-06192 Water Services 06/26	87.22	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132379-06192 Water Services 06/26	101.66	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802139106-06192 Water Services 06/26	140.37	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135958-06192 Water Services 06/26	178.15	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135720-06192 Water Services 06/26	299.29	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132340-06192 Water Services 06/26	301.99	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135721-06192 Water Services 06/26	734.74	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132378-06192 Water Services 06/26	784.36	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132342-06192 Water Services 06/26	1,258.01	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802132013-06192 Water Services 06/26	2,040.68	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802133630-06192 Water Services 06/26	12.46	
		partment	6			
287 General Fund	06/01/2026	St Johns Utility De-	559802135956-06192 Water Services 06/26	34.24	
		partment	6			
287 General Fund	06/01/2026	USA TODAY Media	0007780107	Legal Advertising	105.36	
		Corp		06/26		
287 General Fund	06/01/2026	Vesta Property Ser-	433397	Management Services	33.06	
		vices, Inc.		06/26		
Sum for 287, 2354					11,458.25	
Sum for 287					11,458.25	
Sum Total					11,458.25	

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

Balance Sheet

Trust statement activity has been recorded through 06/30/26.
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 $24,350.34 was received in July 2026.
Debt Service Fund S2015 - Payment for Invoice AR00002997 in the amount of $5,505.54 was received in July 2026.
Debt Service Fund S2016 - Payment for Invoice AR00002997 in the amount of $7,663.00 was received in July 2026.