Title: 2026-07-Southaven CDD Financial Statements
Author: SMarino

Southaven Community Development District

Financial Statements (Unaudited)

July 31, 2026

Prepared by: Rizzetta & Company, Inc.

southavencdd.org rizzetta.com

Southaven | Community Development District | | | | | | | |
Balance Sheet
As of 07/31/2026
(In Whole Numbers)
| | | | | | | | General | nd | Debt Service | nd | | Capital Project | nd | | Total Gvmnt | nd | | ixed Assets Group | | Long-Term | ebt
Assets
Cash In Bank | | | | | | 665,247 | 38,853 | | | 0 | | 704,100 | | 0 | | | 0
Investments | | | | | | | | 0 | 163,846 | | 23,025 | | 186,872 | | 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 | | 202,699
Amount To Be Provided | Debt Service | | 0 | | 0 | | | 0 | | | 0 | | 0 | | 5,245,301
Total Assets | | | | | | | 673,183 | 202,699 | | 23,025 | | 898,908 | | 16,003,359 | | 5,448,000
Liabilities
Accounts Payable | | | | | 14,529 | | 0 | | | 0 | | 14,529 | | 0 | | | 0
Accrued Expenses | | | | | 37,800 | | 0 | | | 0 | | 37,800 | | 0 | | | 0
Other Current Liabilities | | | | 14 | | 0 | | | 0 | | | 14 | | 0 | | | 0
Due To Other | | | | | | 1,419 | | 0 | | | 0 | | 1,419 | | 0 | | | 0
Revenue Bonds Payable-Long Term | | 0 | | 0 | | | 0 | | | 0 | | 0 | | 5,448,000
Deposits Payable | | | | | 1,100 | | 0 | | | 0 | | 1,100 | | 0 | | | 0
Total Liabilities | | | | | | 54,862 | | 0 | | | 0 | | 54,862 | | 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 | | 288,272 | (457,917) | | | 432 | | (169,213) | | 0 | | | 0
Total | nd  Equity & Other Credits | 618,321 | 202,699 | | 23,025 | | 844,045 | | 16,003,359 | | | 0
Total Liabilities & | nd  Equity | 673,183 | 202,699 | | 23,025 | | 898,908 | | 16,003,359 | | 5,448,000

See Notes to Unaudited inancial Statements

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 07/31/2026
(In Whole Numbers)
| Year Ending | | Through | | Year To Date
| 09/30/2026 | | 07/31/2026 | | 07/31/2026
| Annual Budget | | YTD Budget | | YTD Actual | | YTD Variance
Revenues | | | | | | |
Interest Earnings | | | | | | |
Interest Earnings | 0 | | 0 | | 795 | | 795
Special Assessments | | | | | | |
Tax Roll | 968,613 | | 968,613 | | 985,547 | | 16,934
Other Misc. Revenues | | | | | | |
Miscellaneous Revenue | 12,000 | | 10,000 | | 8,851 | | (1,149)
Total Revenues | 980,613 | | 978,613 | | 995,193 | | 16,580
Expenditures | | | | | | |
Financial & Administrative | | | | | | |
Accounting Services | 17,841 | | 14,868 | | 14,868 | | 0
Administrative Services | 6,381 | | 5,317 | | 5,317 | | 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 | | 1,667 | | 1,167 | | 500
District Engineer | 7,000 | | 5,833 | | 4,069 | | 1,764
District Management | 17,727 | | 14,773 | | 14,773 | | 0
Dues, Licenses & Fees | 175 | | 175 | | 217 | | (42)
Financial & Revenue Collections | 4,256 | | 3,546 | | 3,546 | | 0
Legal Advertising | 1,500 | | 1,250 | | 1,619 | | (368)
Miscellaneous Fees | 500 | | 417 | | 1,601 | | (1,186)
Public Officials Liability Insurance | 3,500 | | 3,500 | | 3,361 | | 139
Trustees Fees | 7,000 | | 7,000 | | 5,087 | | 1,914
Website Hosting, Maintenance, Backup | 3,420 | | 2,850 | | 2,850 | | 0
& E | | | | | | |
Total Financial & Administrative | 82,109 | | 72,005 | | 68,784 | | 3,221
Legal Counsel | | | | | | |
District Counsel | 15,000 | | 12,500 | | 24,554 | | (12,054)
Total Legal Counsel | 15,000 | | 12,500 | | 24,554 | | (12,054)
Security Operations | | | | | | |
Access Control / Security Camera Main- | 50,251 | | 41,876 | | 87,251 | | (45,376)
ten | | | | | | |
Gate Phone | 2,000 | | 1,666 | | 1,507 | | 160
Guard & Gate Facility Maintenance & | 11,000 | | 9,167 | | 16,161 | | (6,994)
Repa | | | | | | |
Total Security Operations | 63,251 | | 52,709 | | 104,919 | | (52,210)
Electric Utility Services | | | | | | |
Utility - Recreation Facilities | 15,500 | | 12,917 | | 11,574 | | 1,342
Utility - Street Lights | 24,500 | | 20,417 | | 20,973 | | (555)
Total Electric Utility Services | 40,000 | | 33,334 | | 32,547 | | 787
Garbage/Solid Waste Control Services | | | | | | |
Garbage - Recreation Facility | 3,500 | | 2,916 | | 3,285 | | (369)
Total Garbage/Solid Waste Control Ser- | 3,500 | | 2,916 | | 3,285 | | (369)

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 07/31/2026
(In Whole Numbers)
| Year Ending | | Through | | Year To Date
| 09/30/2026 | | 07/31/2026 | | 07/31/2026
| Annual Budget | | YTD Budget | | YTD Actual | | YTD Variance
vices | | | | | | |
Water-Sewer Combination Services | | | | | | |
Utility - Reclaimed | 46,000 | | 38,334 | | 42,101 | | (3,768)
Utility - Water & Sewer | 12,000 | | 10,000 | | 9,884 | | 117
Total Water-Sewer Combination Services | 58,000 | | 48,334 | | 51,985 | | (3,651)
Stormwater Control | | | | | | |
Aquatic Pond Maintenance | 10,037 | | 8,364 | | 8,350 | | 14
Total Stormwater Control | 10,037 | | 8,364 | | 8,350 | | 14
Other Physical Environment | | | | | | |
Entry & Walls Maintenance & Repair | 5,000 | | 4,166 | | 0 | | 4,167
General Liability & Property Insurance | 39,000 | | 39,000 | | 37,415 | | 1,585
Irrigation Repair | 10,000 | | 8,334 | | 0 | | 8,333
Landscape & Irrigation Maintenance | 166,201 | | 138,501 | | 138,500 | | 0
Contr | | | | | | |
Landscape Replacement Plants, | 25,000 | | 20,833 | | 9,537 | | 11,297
Shrubs, Tr | | | | | | |
Total Other Physical Environment | 245,201 | | 210,834 | | 185,452 | | 25,382
Road & Street Facilities | | | | | | |
Maintenance & Repairs | 1,500 | | 1,250 | | 72 | | 1,178
Parking Lot/Roadway Repair & Mainte- | 12,000 | | 10,000 | | 6,500 | | 3,500
nance | | | | | | |
Street Light/Decorative Light Mainte- | 3,500 | | 2,917 | | 4,180 | | (1,263)
nanc | | | | | | |
Street Sign Repair & Replacement | 1,000 | | 833 | | 103 | | 730
Total Road & Street Facilities | 18,000 | | 15,000 | | 10,855 | | 4,145
Parks & Recreation | | | | | | |
Amenity Facility - Maintenance & Repair | 15,000 | | 12,500 | | 20,150 | | (7,650)
Amenity Facility Janitorial Service Cont | 15,000 | | 12,500 | | 10,931 | | 1,569
Amenity Management Service Contracts | 173,415 | | 144,512 | | 144,777 | | (264)
Common Areas Pressure Washing | 6,000 | | 5,000 | | 5,252 | | (252)
Dog Waste Station Supplies & Mainte- | 2,000 | | 1,667 | | 886 | | 780
nance | | | | | | |
Elevator Maintenance & Permit | 3,000 | | 2,500 | | 375 | | 2,125
Fitness Equipment Maintenance & Re- | 2,500 | | 2,083 | | 1,569 | | 514
pair | | | | | | |
Furniture Repair & Replacement | 4,000 | | 3,334 | | 0 | | 3,334
HVAC Maintenance Contract | 3,000 | | 3,000 | | 2,500 | | 500
Pest Control & Termite Bond | 1,750 | | 1,458 | | 1,978 | | (520)
Pool Permits | 350 | | 292 | | 350 | | (59)
Pool Services - Chemicals/Per- | 9,500 | | 9,500 | | 9,092 | | 408
mits/Suppli | | | | | | |
Security System Monitoring Services & | 1,500 | | 1,250 | | 1,105 | | 145
Ma | | | | | | |
Telephone, Internet, Cable | 8,000 | | 6,666 | | 6,500 | | 167
Tennis/Athletic Court/Park Maintenance | 500 | | 417 | | 2,930 | | (2,513)
Total Parks & Recreation | 245,515 | | 206,679 | | 208,395 | | (1,716)
Special Events | | | | | | |

287 General Fund

Southaven Community Development District
Statement of Revenues and Expenditures

As of 07/31/2026 (In Whole Numbers)
Year Ending 09/30/2026 Annual Budget | | Through 07/31/2026 YTD Budget | | Year To Date 07/31/2026 YTD Actual	YTD Variance
Holiday Decorations Special Events Total Special Events | 5,000 5,000 10,000 | | 5,000 4,167 9,167 | | 4,886 2,441 7,327 | | 114 1,725 1,839
Contingency Capital Improvements Miscellaneous Contingency Total Contingency Total Expenditures | 25,000 165,000 190,000 980,613 | | 20,833 137,500 158,333 830,175 | | 468 0 468 706,921 | | 20,366 137,500 157,866 123,254
Total Excess of Revenues Over(Under) Ex-penditures | 0 | | 148,438 | | 288,272 | | 139,834
Fund Balance, Beginning of Period | 0 | | 0 | | 330,049 | | 330,049
Total Fund Balance, End of Period | 0 | | 148,438 | | 618,321 | | 469,883

_287 _Debt _Service _Fund _S2015/S2026-S_1outhaven Community Development District
Statement of Revenues and Expenditures
As of 07/31/2026 (In Whole Numbers)
Year Ending	Through
09/30/2026	07/31/2026

Year To Date 07/31/2026

Revenues
Interest Earnings

Annual Budget	YTD Budget	YTD Actual	YTD Variance

Interest Earnings | 0 | | 0 | | 6,896 | | 6,896
Special Assessments Tax Roll | 218,999 | | 218,999 | | 222,829 | | 3,829
Total Revenues | 218,999 | | 218,999 | | 229,725 | | 10,725
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 | | 71,274 | | 62,726
Principal | 85,000 | | 85,000 | | 0 | | 85,000
Total Debt Service | 218,999 | | 218,999 | | 71,274 | | 147,726
Total Expenditures | 218,999 | | 218,999 | | 190,214 | | 28,786
Total Excess of Revenues Over(Under) Ex- | 0 | | 0 | | 39,511 | | 39,511
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 | | 75,332 | | 75,332

_287 _Debt _Service _Fund _S2016/S2026-S_2outhaven Community Development District
Statement of Revenues and Expenditures
As of 07/31/2026 (In Whole Numbers)
Year Ending	Through
09/30/2026	07/31/2026

Year To Date 07/31/2026

| Annual Budget | | YTD Budget | | YTD Actual | | YTD Variance
Revenues | | | | | | |
Interest Earnings | | | | | | |
Interest Earnings | 0 | | 0 | | 11,226 | | 11,226
Special Assessments | | | | | | |
Prepayments | 0 | | 0 | | 20,748 | | 20,748
Tax Roll | 304,819 | | 304,819 | | 310,148 | | 5,329
Total Revenues | 304,819 | | 304,819 | | 342,122 | | 37,303
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 | | 108,193 | | 116,626
Principal | 80,000 | | 80,000 | | 0 | | 80,000
Total Debt Service | 304,819 | | 304,819 | | 108,193 | | 196,626
Total Expenditures | 304,819 | | 304,819 | | 246,213 | | 58,606
Total Excess of Revenues Over(Under) Ex- | 0 | | 0 | | 95,909 | | 95,909
penditures
Total Other Financing Sources(Uses) Interfund Transfer (Revenue)

0 | 0 | 105 | 105
0 | 0 | (3,585,168) | (3,585,168)
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 | | 127,367 | | 127,367

_287 _Capital _Projects _Fund _S2016/S20S_2o_6-u_2thaven Community Development District
Statement of Revenues and Expenditures
As of 07/31/2026 (In Whole Numbers)
Year Ending	Through
09/30/2026	07/31/2026

Year To Date 07/31/2026

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 July 31, 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 July 31, 2026

15
2
22
2
10,129
54,857
14,511
78,148
2,759
3,401
163,846

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.

Southaven Community Development District Summary A/P Ledger
From 07/01/2026 to 07/31/2026
Fund Name	GL posting date	Vendor name	Document number Description	Balance Due
287, 2354 | | | | |
287 General Fund | 07/01/2026 | AT&T | 323860823-071026 | Internet Services | 271.13
| | | | 07/26 |
287 General Fund | 07/01/2026 | COMCAST | 8495741401213297-0 Phone Services 07/26 | 374.57
| | | 71726 | |
287 General Fund | 07/01/2026 | Dolphin Backflow, Inc. 48537 | Maintenance & Repair | 3,060.60
| | | | 06/26 |
287 General Fund | 07/01/2026 | Dolphin Backflow, Inc. 48536 | Maintenance & Repair | 1,493.62
| | | | 06/26 |
287 General Fund | 07/01/2026 | Kutak Rock, LLP | 3779998 | Legal Services 05/26 | 1,841.00
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132338-07192 Water Services 07/26 | 55.84
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132336-07192 Water Services 07/26 | 87.22
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132379-07192 Water Services 07/26 | 98.46
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135958-07192 Water Services 07/26 | 161.12
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802139106-07192 Water Services 07/26 | 179.29
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135720-07192 Water Services 07/26 | 305.99
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132340-07192 Water Services 07/26 | 357.84
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132342-07192 Water Services 07/26 | 462.88
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135721-07192 Water Services 07/26 | 850.45
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132378-07192 Water Services 07/26 | 976.52
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802132013-07192 Water Services 07/26 | 2,910.58
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802134615-07192 Water Services 07/26 | 37.38
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135956-07192 Water Services 07/26 | 31.93
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135954-07192 Water Services 07/26 | 16.11
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802133630-07192 Water Services 07/26 | 12.46
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135961-07192 Water Services 07/26 | 12.46
| | partment | 6 | |
287 General Fund | 07/01/2026 | St Johns Utility De- | 559802135959-07192 Water Services 07/26 | 73.32
| | partment | 6 | |
287 General Fund | 07/01/2026 | USA TODAY Media | 0007822155 | Legal Advertising | 829.34
| | Corp | | 07/26 |
287 General Fund | 07/01/2026 | Vesta Property Ser- | 433936 | Management Services | 28.42
| | vices, Inc. | | 07/26 |
Sum for 287, 2354 | | | | | 14,528.53
Sum for 287 | | | | | 14,528.53
Sum Total | | | | | 14,528.53

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

Balance Sheet

Trust statement activity has been recorded through 07/31/2026.
See EMMA (Electronic Municipal Market Access) at https://emma.msrb.org for Municipal Disclosures and Market Data.

See Notes to Unaudited Financial Statements