HomeMy WebLinkAbout09/14/2023 - Regular Minutes - Rock Prairie Management District No. 2ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2
MINUTES OF PUBLIC MEETING OF BOARD OF DIRECTORS
September 14, 2023
The Board of Directors (the "Board") of Rock Prairie Management District No 2 (the
"District") met in regular session, open to the public on September 14, 2023, at 4121 State
Highway 6 South, College Station, Brazos County, Texas 77845, in accordance with the duly
posted notice of meeting, and the roll was called of the duly constituted members of said Board of
Directors, as follows:
Uri Geva — President
Hays Glover — Vice President
Logan Lee — Assistant Vice President
Mark Lindemulder —Secretary
Samuel "Kit" Kerbel — Assistant Secretary
and all of said persons were present, except Director Geva, thus constituting a quorum.
Also present were James Murr of College Station Town Center, Inc. ("CSTC"); Denise
Oppenheimer of Municipal Accounts & Consulting, L.P. ("MAC"); Robert Atkinson of EHRA
Engineering ("EHRA"); Avik Bonnerjee of B&A Municipal Tax Service, LLC ("B&A"); Anthea
Moran of Masterson Advisors LLC ("Masterson"); Stacy Vasquez of the City of College Station
(the "City"); Wendy Ramirez of FORVIS LLP ("FORVIS"); and Christina Cole of Schwartz, Page
& Harding, L.L.P. ("SPH").
The Vice President called the meeting to order and declared same open for such business
as might properly come before it.
Ms. Cole informed the participants that, in accordance with the requirements of the City's
Resolution No. 07-09-15-02 consenting to the creation of the District, the meeting would be
recorded, and requested that participants speak clearly, including when making or seconding a
motion.
PUBLIC COMMENTS
The Board began by opening the meeting for public comments. There were no comments
from members of the public.
APPROVAL OF MINUTES
The Board next considered approval of the minutes of its meeting held on July 13, 2023.
After review and discussion, Director Glover moved that the minutes for said Board meeting be
approved, as written. Director Lindemulder seconded said motion, which unanimously carried.
TAX RATE RECOMMENDATION
Ms. Moran then reviewed with the Board the Tax Rate Recommendation Schedule attached
hereto as Exhibit A. She advised the Board that Masterson recommends a proposed 2023 debt
service tax rate of $0.30, and, based on the analysis, the Board discussed a proposed 2023
maintenance tax rate of $0.20, for a total proposed tax rate of $0.50.
There next followed a discussion concerning the requirements for notice of the District's
intention to adopt a 2023 tax rate. Ms. Cole advised that, pursuant to the Texas Water Code, the
District is required to provide a notice containing certain tax -related information, including the
proposed tax rate, in connection with each meeting at which the adoption of a tax rate will be
considered. She advised that the District must provide the notice by either (1) publishing it at least
once in a newspaper having general circulation in the District at least seven days before the date
of the meeting at which the tax rate will be adopted, or (2) mailing it to each owner of taxable
property in the District, at the address shown on the most recently certified tax roll of the District,
at least 10 days before the date of the meeting. After discussion on the matter, Director Lee moved
that the Board accept the financial advisor's recommendation of a proposed 2023 debt service tax
rate of $0.30, and a proposed maintenance tax rate of $0.20, and that the District's tax assessor -
collector be authorized to publish notice of the District's intention to adopt a 2023 tax rate at its
October 12, 2023 regular meeting in the form and at the time required by law in The Eagle
newspaper. Director Lindemulder seconded said motion, which unanimously carried.
BOOKKEEPING REPORT
Ms. Oppenheimer presented to and reviewed with the Board a Bookkeeping Report, a copy
of which report is attached hereto as Exhibit B, including checks presented therein for payment.
Following review and discussion, Director Glover moved that the Bookkeeping Report be
approved and the checks presented therein be approved for payment. Director Lee seconded the
motion, which unanimously carried.
APPROVE AUDIT REPORT
Ms. Ramirez next reviewed with the Board a draft of the District's audit report for the fiscal
year ended May 31, 2023, a copy of which is attached hereto as Exhibit C. After discussion
concerning the audit presented, Director Glover moved that (i) the audit report for the fiscal year
ended May 31, 2023, be approved, subject to final review and comment by SPH, and (ii) SPH be
authorized to file same with the Texas Commission on Environmental Quality and the City.
Director Lindemulder seconded said motion, which unanimously carried.
In connection with the District's audit, Ms. Ramirez presented the Board with a draft
Management Letter prepared by FORVIS, concerning the Board's internal controls over _financial
reporting (the "Management Letter"), a copy of which is attached hereto as Exhibit D. Mr.
Krueger advised the Board that the Management Letter is being submitted in connection with the
requirements of Statement on Auditing Standards No. 115, and includes proposed "Management
Response" language prepared by SPH. After discussion, it was moved by Director Glover,
-2
682820
seconded by Director Lindemulder and unanimously carried that the draft Management Response
be approved, as presented, and that same be included in the final Management Letter.
ENGAGEMENT OF AUDITOR FOR DISBURSEMENT OF SURPLUS ROAD
CONSTRUCTION FUNDS
Ms. Ramirez presented an engagement letter from FORVIS, for preparation of an audit of
payments to be made to the developers out of surplus road construction funds. Ms. Cole noted
that FORVIS has filed a Texas Ethics Commission ("TEC") Form 1295 and has provided SPH
with a copy of same. Following discussion, Director Glover moved to (i) approve and authorize
the Vice President to execute said engagement letter, and (ii) accept the TEC Form 1295 submitted
in connection with the engagement letter and authorize SPH to acknowledge the District's receipt
of same with the TEC. Director Lindemulder seconded said Motion, which carried unanimously.
A copy of the engagement letter is attached hereto as Exhibit E.
STATUS OF CONTINUING DISCLOSURE REPORT
Ms. Cole next discussed the Continuing Disclosure Report ("Report") for the fiscal year
ended May 31, 2023, which is prepared by the District's Disclosure Counsel, McCall, Parkhurst &
Horton L.L.P. ("MPH"), as required by Rule 15c2-12 of the Securities and Exchange Commission,
in connection with the District's outstanding bonds. Following discussion, Director Lindemulder
moved that MPH be authorized to file the Report, upon receipt of the District's final audit report
for fiscal year ended May 31, 2023. Director Lee seconded the motion which carried by unanimous
vote.
TAX ASSESSOR/COLLECTOR'S REPORT
Mr. Bonnerjee then presented to and reviewed with the Board the Tax Assessor -Collector
Reports for the months ending July 31, 2023 and August 31, 2023, including checks presented
therein for payment. A copy of such report is attached hereto as Exhibit F. After discussion,
Director Glover moved that the Tax Assessor/Collector Reports be approved and that the checks
identified therein be approved for payment. Director Lee seconded said motion, which
unanimously carried.
ENGINEERING REPORT
Mr. Atkinson presented to and reviewed with the Board an Engineering Report dated
September 2023, a copy of which is attached hereto as Exhibit G. Following discussion, Director
Glover moved to (i) concur in the payment and approval of the pay estimates as set forth in the
Engineer's Report, and (ii) authorize EHRA to advertise for bids for construction of water, sanitary
sewer and drainage facilities to serve Midtown City Center Phase 111. Director Lindemulder
seconded the motion, which unanimously carried.
3
682820
DEVELOPER'S REPORT
The Board considered the Developer's Report. Mr. Murr presented a verbal repot. on the
status of development within the District.
ATTORNEY'S REPORT
The Board considered the Attorney's Report. Ms. Cole advised the Board that she had
nothing of a legal nature to discuss with the Board that was not already covered under previous
agenda items.
Ms. Cole noted that the next meeting of the Board will be held on October 12, 2023, at
2:00 p.m.
FUTURE AGENDA ITEMS
The Board considered items for placement on future agendas.
ADJOURNMENT
There being no further business to come before the Board, on motion made by Director
Glover, seconded by Director Lee, and unanimously carried, the meeting was adjourned.
4
682820
LIST OF ATTACHMENTS
Rock Prairie Management District No. 2
Minutes of Meeting of September 14, 2023
Exhibit A Pro Forma Cash Flow Analysis
Exhibit B Bookkeeping Report
Exhibit C Draft Audit Report for Fiscal Year ended May 31, 2023
Exhibit D Draft Management Letter from FORVIS
Exhibit E Engagement Letter from FORVIS, LLP
Exhibit F Tax Assessor/Collector Reports
Exhibit G Engineering Report
5
682820
EXHIBIT "A"
MASTERSON
4 ADVISORS «C
2023 DEBT SERVICE TAX RATE RECOMMENDATION
Rock Prairie Management District No. 2
Projected Projected Beginning Tax
Tax Assessed Debt Service Cldr Fund Collections
'foal Valuation Tax Rate rear fftlnnce 4-
2018 9,892,250
2019 14,659,986
2020 23,533,362
2021 43,391,211 0.330
2022 72,744,843 0.380
2023 129,268,118 0.300 2024 227,158 376,170
2024 143,739,923 0.300 2025 203,365 418,283
2025 143,739,923 0.300 2026 194,803 418,283
2026 143,739,923 0.300 2027 190,753 418,283
2027 143,739,923 0.300 2028 185,349 418,283
2028 143,739,923 0.300 2029 183,895 410,283
2029 143,739,923 0.300 2030 186,810 418,283
2030 143,739,923 0.300 2031 187,641 418,283
2031 143,739,923 0.300 2032 191,982 418,283
2032 143,739,923 0.300 2033 200,127 418,283
2033 143,739,923 0.300 2034 206,173 418,283
2034 143,739,923 0.300 2035 220,444 418,283
2035 143,739,923 0.300 2036 233,039 418,283
2036 143,739,923 0.300 2037 254,223 418,283
2037 143,739,923 0.300 2038 279,249 418,283
2038 143,739,923 0.300 2039 313,251 418,283
2039 143,739,923 0.300 2040 346,228 418,283
2040 143,739,923 0.300 2041 383,512 418,283
2041 143,739,923 0.300 2042 420,232 418,283
2042 143,739,923 0.300 2043 462,022 418,283
2043 143,739,923 0.300 2044 509,017 418,283
2044 143,739,923 0.300 2045 551,357 418,283
2045 143,739,923 0.300 2046 599,696 418,283
2046 143,739,923 0.300 2047 639,173 418,283
2047 143,739,923 0.300 2048 685,856 418,283
2048 143,739,923 0.300 2049 735,002 418,283
2049 143,739,923 0.300 2050 791,973 418,283
Tuts(
11.251,533
Interest
Income
2.0%
Total
Funds
Available
Outstanding
Debt
Service
Ending
Fund
Balance
Percent of
Next Year's
Debt Service
4,543 607,871 404,506 203,365 47.19%
4,067 625,715 430,913 194,803 46.13%
613,086 422,333 190,753 45.02%
609,036 423,688 185,349 44.16%
603,632 419,738 183,895 44.27%
602,178 415,368 186,810 44.75%
605,093 417,453 187,641 45.33%
605,924 413,943 191,982 46.81%
610,265 410,138 200,127 48.55%
618,411 412,238 206,173 51.03%
624,456 404,013 220,444 54.34%
638,727 405,688 233,039 58.69%
651,323 397,100 254,223 64.65%
672,506 393,256 279,249 72 67%
697,533 384,281 313,251 81.30%
731,535 385,306 346,228 90.87%
764,512 381,000 383,512 100.51%
801,795 381,563 420,232 111.62%
838,515 376,494 462,022 124.44%
880,305 371,288 509,017 135.40%
927,300 375,944 551,357 149.04%
969,640 369,944 599,696 158.31%
1,017,979 378,806 639,173 172.01 %
1,057,456 371,600 685,856 185.80%
1,104,139 369,138 735,002 203.43%
1,153,285 361,313 791,973 221.01%
1,210,256 358,338 851,918
8.610
Certified value, including 80% of uncertified value (51,484,027).
Beainnina Debt Service Fund Balance:
Fund balance as of 7/13/23
Less: Debt payments due on 9/1/23
Projected fund balance on 9/2/23
"*" Maintenance Tax IM&OI Information:
Maximum M&O Tax Rate Authorization
Each $0.01 M&O tax generates (97%):
2022 M&O tax generates (97%):
$383,671
(158.5141
$227,158
$1.00
$12,539
$150,468
Change in Value (%)
AV 77.7%
HS 9.1%
Anatysis of General Fund
General Fund Balance a5 of 7113/23
'jfF !. e9
Budgeted M&O Tax Revenue (loci Developer Advance)
($15.4 r5)
3230.000
1O
$236,060
48 Months nF deserve
5/31/£4 Oudg:.t
$0.188 Tax Rate Equivalent (Wry.)
10,635.383
Debt9btvice 50.3800
6RdA ••• 0.1200
Total $0 5000
2022 avg HS
2023 avg HS
2022 avg tax bill
$267,049
$291,349
$1,335
Tax Rate Calculations -
if "Developing District, "11%
Party
Rollback (Petition Election)
M&O Rollback (Voter)
$0.4582
$0.4949
$0.11 87
EXHIBIT "B"
MUNICIPAL ACCOUNTS
CONSULTING, L.P.
Bookkeeper's Report I September 14, 2023
Rock Prairie Management
District No. 2
49 WEBSITE
www.municipalaccounts.com
if ADDRESS
611 Longmire Rd Suite 1
Conroe, Texas 77304
CONTACT
Phone: 936.753.1644
Fax: 936.756.1844
Monthly Financial Summary - General Operating Fund
Rock Prairie MD No. 2 - GOF
�4d
Account Balance Summary Overall Revenues & Expenditures
By Month (Year to Date)
Balance as of 07/14/2023 ($15,475) --.- Current Year Revenues Prior Year Revenues
- Current Year Expenditures Prior Year Expenditures
Receipts 48,782 $60K
>r
11
R \1 1i 1 if
Disbursements (80,912) $40K t 1 ;'r'
1 1
3 1 1
r 'f
Balance as of 09/14/2023 ($47,605) $20K '�, ;' / ,�"1•
1 f
1 14...
I! 1
$0K •—= +.----r'l� a
Jul Sep Nov Jan Mar May
Jun Aug Oct Dec Feb Apr
August 2023 June 2023 - August 2023 (Year to Date)
Revenues Revenues
Actual Budget Over/(Under) Actual Budget Over/(Under)
$0 $0 $0 $2,282 $2,282 $0
Expenditures Expenditures
Actual Budget Over/(Under) Actual Budget Over/(Under)
$28,884 $33,330 ($4,446) $79,806 $76,550 $3,256
Operating Fund Reserve Coverage Ratio (In Months)
4
3
2
0
1:4
1.2
3.9
3.9
2.2
0, 7
1.9
1,8
0.4
Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 22 Aug 23
2
General Operating Fund
Cash Flow Report - Checking Account
Rock Prairie MD No. 2 - GOF
rd
Number
Balance as of 07/14/2023
Receipts
Name
Maintenance Tax Collections
Forvis - Refund
Developer Advance
Total Receipts
Disbursements
2102
2105
2106
2107
2108
2109
2110
2111
2112
Svc Chg
Svc Chg
Wire
Wire
Greener Images
Brien Water Wells & Irrigation
Aggieland Title Company
B&A Municipal Tax Service
EHRA Engineering
Forvis
Jack Daniel's Delivery Service
Municipal Accounts & Consulting, LP
Schwartz, Page & Harding, L.L.P.
Central Bank
Central Bank
Rock Prairie MD 2 - DSF
Central Bank
Total Disbursements
Balance as of 09/14/2023
Memo
Mowing & Repairs
Maintenance & Repairs
Owners Title Policy
SB2 Compliance
Engineering Fees
Audit Fee
Delivery Fee
Bookkeeping Fees - 2 Months
Legal Fees - 2 Months
Service Charge
Service Charge
Wire Transfer - To Debt Fund
Forvis Refund - To CPF
Amount Balance
($15,475.39)
22,282.26
4,500.00
22, 000.00
(18,765.78)
(2,659.85)
(5,421.00)
(250.00)
(1,325.00)
(12,600.00)
(32.50)
(7,533.51)
(7,813.88)
(5.00)
(5.00)
(20,000.00)
(4,500.00)
$48,782.26
($80,911.52)
($47,604.65)
CENTRAL BANK - CHECKING - #XXXX6508
3
General Operating Fund
Actual vs. Budget Comparison
Rock Prairie MD No. 2 - GOF
August 2023 June 2023 - August 2023
Over/
Over/ Annual
Actual Budget (Under) Actual Budget (Under) Budget
Revenues
Property Tax Revenue
14301 Maintenance Tax Collections 0
Total Property Tax Revenue 0
Developer Advance
14901 Developer Advance 0
Total Developer Advance 0
Total Revenues
0
0
0 2,282 2,282 0 221,044
0 2,282 2,282 0 221,044
0 0 0 0 15,016
0
0 0
0 15,016
0 0 0 2,282 2,282 0 236,060
Expenditures
Parks & Recreation Service
16603 Mowing - Parks 7,800 7,800 0 29,702 26,960 2,742 75,000
Total Parks & Recreation Service 7,800 7,800 0 29,702 26,960 2,742 75,000
Administrative Service
16703 Legal Fees 1,135 5,000 (3,865) 9,820 15,000 (5,180) 60,000
16705 Auditing Fees 12,600 13,500 (900) 12,600 13,500 (900) 13,500
16706 Engineering Fees 0 3,083 (3,083) 1,325 9,250 (7,925) 37,000
16712 Bookkeeping Fees 5,581 3,042 2,540 10,300 9,125 1,175 36,500
16713 Legal Notices & Other Publ. 0 83 (83) 0 250 (250) 1,000
16714 Printing & Office Supplies 64 167 (103) 537 500 37 2,000
16715 Filing Fees 57 17 40 109 50 59 200
16716 Delivery Expense 0 13 (13) 114 38 76 150
16717 Postage 9 11 (2) 12 32 (20) 130
16718 Insurance & Surety Bond 0 0 0 0 0 0 3,200
16722 Bank Service Charge 5 40 (35) 50 120 (70) 480
16723 Travel Expense 75 100 (25) 265 300 (35) 1,200
16737 SB 2 Expenses 250 250 0 750 750 0 3,000
Total Administrative Service 19,775 25,305 (5,530) 35,882 48,915 (13,033) 158,360
Other Expense
17802 Miscellaneous Expense 1,308 225 1,083 14,221 675 13,546 2,700
Total Other Expense 1,308 225 1,083 14,221 675 13,546 2,700
Total Expenditures 28,884 33,330 (4,446) 79,806 - 76,550 3,256 236,060
Total Revenues (Expenditures)
Excess Revenues (Expenditures)
(28,884) (33,330) 4,446 (77,523) (74,268) (3,256)
(28,884) (33,330) 4,446 (77,523) (74,268) (3,256) 0
4 Gene -al Operating Fund
Balance Sheet as of 08/31/2023
Rock Prairie MD No. 2 - GOF
Assets
Bank
11101 Cash in Bank
Total Bank
Receivables
11303 Maintenance Tax Receivable
Total Receivables
Interfund Receivables
11401 Due From Capital Projects
11403 Due From Tax Account
Total Interfund Receivables
$8,637
$8,637
$3,175
$3,175
($19,143)
(11,341)
($30,484)
Total Assets ($18,672)
Liabilities & Equity
Liabilities
Accounts Payable
12101 Accounts Payable $54,492
Total Accounts Payable $54,492
Interfund Payables
12401 Due To Capital Projects $4,500
12402 Due To Debt Service 20,000
Total Interfund Payables $24,500
Deferrals
12502 Deferred Inflows Property Taxes $3,175
Total Deferrals $3,175
Total Liabilities $82,167
Equity
Unassigned Fund Balance
13101 Unassigned Fund Balance
Total Unassigned Fund Balance
Net Income
Total Equity
Total Liabilities & Equity
($23,315)
($23,315)
($77,523)
(S100.839)
($18,672)
General Operating Fund
Monthly Financial Summary - Capital Projects Fund
Rock Prairie MD No. 2 - CPF
rd
Account Balance Summary
Balance as of 07/14/2023 $60,641
Receipts 5,316
Disbursements 0
Balance as of 09/14/2023 $65,957
Overall Revenues & Expenditures
By Month (Year to Date)
Current Year Revenues --•-- Prior Year Revenues
Current Year Expenditures Prior Year Elaenditures
$2.5M
$2.0M
$1.5M
$1.0M
$0.5M
$0.0M
($0.5M)
Jul Sep Nov Jan Mar May
Jun Aug Oct Dec Feb Apr
Account Balance By Month I September 2022 - August 2023
CAPITAL PROJECTS FUND
$200.00K
$150.00K
$100.00K
$50.00K
$0.00K
($50.00K)
Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23
6 Capital Projects Fund
District ❑ebt Summary as of 09/14/2023
Rock Prairie MD No. 2 - ❑SF
Total $ Authorized
$178.00M
Total $ Issued
$6.75M
WATER, SEWER,
DRAINAGE
Authorized
$71.40M
Issued
N/A
PARK/ROAD/OTHER REFUNDING
Authorized Authorized
$106.60M $178.00M
Issued Issued
$6.75M N/A
Yrs to Mat Rating $ Available To Issue $ Available To Issue $ Available To Issue
26 AA $71.40M $99.85M $178.00M
*Actual 'Outstanding' Refunding Bonds issued below may differ from the 'Issued' total above pursuant to Chapter 1207, Texas Government Code.
Outstanding Debt Breakdown
Series Issued
2023 - Road
2022 - Road
2021 - Road
Total
Original Bonds Issued
$1,750,000
$2,500,000
$2,500,000
$6,750,000
Maturity Date
2050
2050
2050
Principal Outstanding
$1,750,000
' $2,500,000
$2,370,000
$6,620,000
District Debt Schedule
Rock Prairie MD No. 2 - ❑SF
Paying Agent Series Principal I Interest Total
Bank of New York 2023 - Road $0.00 $57,887.50 $57,887.50
Bank of New York 2022 - Road $0.00 $60,312.50 $60,312.50
Bank of New York 2021 - Road $0.00 $30,762.50 $30,762.50
Total Due 03/01/2024 $0.00 $148,962.50 $148,962.50
Paying Agent Series Principal Interest Total
Bank of New York 2023 - Road $0.00 $39,468.75 $39,468.75
Bank of New York 2022 - Road $60,000.00 $60,312.50 $120,312.50
Bank of New York 2021 - Road $65,000.00 $30,762.50 $95,762.50
Total Due 09/01/2024 $125,000.00 $130,543.75 $255,543.75
❑istiict Debt Schedule
Investment Profile as of 09/14/2023
lick Prairie MD No. 2
General Operating Fund Capital Projects Fund
Funds Available to Invest Funds Available to Invest
($47,605)
Funds Invested
so
Percent Invested
0%
Term
On Demand
$65,957
Funds Invested
$65,957
Percent Invested
100 %
Money Market
Term
180 Days
270 Days
1 Yr
13 Mo
18 Mo
2 Yr
Debt Service Fund Other Funds
Funds Available to Invest Funds Available to Invest
$250,669
Funds Invested
$250,669
Percent Invested
100 %
Certificate of Deposit
*Rates are based on the most current quoted rates and are subject to change daily.
5.13 %
5.17 %
5.15 %
5.15
3.76
2.83 %
N/A
Funds Invested
N/A
Percent Invested
N/A
Term
180 Days
270 Days
1 Yr
13 Mo
18 Mo
2 Yr
Investment Rates Over Time (By Month) I September 2022 - August 2023
5.50%
5.00%
4.50%
4.00%
3.50%
3.00%
2.50%
MONEY MARKET CD-1 YEAR U.S. TREASURIES-1 Year
U S. Treasuries
5.52 %
5.52 %
5.39 %
N/A
5.39 %
4.99
Sep 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug 23
Iiivestme'roflle
Account Balance as of 09/14/2023
Rock Prairie MD No. 2 - Investment Detail
FUND: General Operating
Financial Institution (Acct Number) Issue Date Maturity Date Interest Rate Account Balance Notes
Checking Account(s)
CENTRAL BANK - CHECKING (XXXX6508)
0.00 % (47,604.65) Checking Account
Totals for General Operating Fund ($47,604.65)
FUND: Capital Projects
Financial Institution (Acct Number) Issue Date I Maturity Date
Money Market Funds
TEXAS CLASS (XXXX0003) 06/27/2022
TEXAS CLASS (XXXX0004) 05/15/2023
Interest Rate
5.51
5.51
Account Balance I Notes
0.67 Seres 2022 Road
65,955.94 Seres 2023 Road
Totals for Capital Projects Fund $65,956.61
FUND: Debt Service
Financial Institution (Acct Number) Issue Date Maturity Date Interest Rate Account Balance Notes
Money Market Funds
TEXAS CLASS (XXXX0001) 04/06/2021 5.51 % 250,668.83 Road
Totals for Debt Service Fund $250,668.83
Grand Total for Rock Prairie MD No. 2 : $269,020.79
Hs
Account Balance
Rock Prairie MD No. 2
Capital Projects Fund Breakdown
9/14/2023
Net Proceeds for All Bond Issues
Receipts
Series 2022 Road
Series 2022 Road
Series 2023 Road
Series 2023 Road
- Bond Proceeds
- Interest Earnings
- Bond Proceeds
- Interest Earnings
$2,500,000.00
815.06
1,750,000.00
1,490.80
Disbursements
Series 2022 Road - Disbursements (Attached) (2,500,814.39)
Series 2023 Road - Disbursements (Attached) (1,685,534.86)
Total Cash Balance $65,956.61
Balances by Account
Series 2022 Road - TX Class (0002)
Series 2023 Road - TX Class (0004)
Total Cash Balance
Balances by Bond Series
Series 2022 Road - Bond Proceeds
Series 2023 Road - Bond Proceeds
Total Cash Balance
$0.67
$65,955.94
$65,956.61
$0.67
$65,955.94
$65,956.61
Remaining' r'nctq /Surplus By Bond Series
Series 2022 Road - Remaining Costs
Series 2023 Road - Remaining Costs
Total Amount in Remaining Costs
Series 2022 Road - Surplus & Interest Balance
Series 2023 Road - Surplus & Interest Balance
Total Remaining Costs/Surplus
$0.00
$26,648.46
$26,648.46
$0.67
$39,307.48
$65,956.61
11
CONSTRUCTION COSTS
Districts Items:
Bird Pond Road
Midtown Reserve Phase 100
Midtown Reserve Phase 102
Engineering & Geotechnical
Total Constructions Costs
Rock Prairie MD No. 2
Cost Comparison
Series 2022 Road
USE OF ACTUAL REMAINING VARIANCE
PROCEEDS COSTS COSTS (OVER)/UNDER
$1,215,648.00 $1,215,647.89
236,508.00 233,991.00
339,937.00 339,936.51
47,704.00 55,112.79
1,839,797.00 1,844,688.19
$0.00
0.00
0.00
0.00
0.00
$0.11
2,517.00
0.49
(7,408.79)
(4,891.19)
TOTAL CONSTRUCTION COSTS $1,839,797.00 $1,844,688.19 $0.00 ($4,891.19)
NON -CONSTRUCTION COSTS
Legal Fees
Financial Advisor Fees
Capitalized Interest
Developer Interest
Bond Discount
Bond Issuance Expenses
Attorney General Fee
TOTAL NON -CONSTRUCTION COSTS
TOTAL BOND ISSUE REQUIREMENT
$72,500.00 $72,500.00 80.00 $0.00
50,000.00 50,000.00 0.00 0.00
125,000.00 120,625.00 0.00 4,375.00
291,764.00 303,801.59 0.00 (12,037.59)
75,000.00 69,434.55 0.00 5,565.45
43,439.00 37,265.06 0.00 6,173.94
2,500.00 2,500.00 0.00 0.00
$660,203.00 $656,126.20 $0.00 $4,076.80
$2,500,000.00 $2,500,814.39 $0.00 ($814.39)
Interest 815
Bank Fees 0
Total Surplus & Interest 1
Total Projections, Surplus, & Interest $0.67
12
CONSTRUCTION COSTS
Districts Items:
Midtown Reserve Phase 104
Midtown Reserve Phase 200
Midtown Reserve Phase 201
Engineering & Geotechnical
Total Constructions Costs
Rock Prairie MD No. 2
Cost Comparison
Series 2023 Road
USE OF ACTUAL REMAINING VARIANCE
PROCEEDS COSTS COSTS (OVER)/UNDER
272,003.82 272,003.82
536,649.08 536,649.08
314,665.00 314,665.00
131,271.01 131,271.01
1,254,568.91 1,254,588, 91
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
TOTAL CONSTRUCTION COSTS $1,254,588.91 $1,254,588.91 $0.00 $0.00
NON -CONSTRUCTION COSTS
Legal Fees 553,899.60 $53,899.60 $0.00 $0.00
Financial Advisor Fees 38,912.38 38,912.38 0.00 0.00
Capitalized Interest 78,937.50 78,937.50 0.00 0.00
Developer Interest 208,758.00 170,941.32 0.00 37,816.68
Bond Discount 50,110.15 50,110.15 0.00 0.00
Bond Issuance Expenses 47,716.46 36,395.00 11,321.46 0.00
Attorney General Fee 1,750.00 1,750.00 0.00 0.00
Contingency 15,327.00 15,327.00 0.00
$495,411.09 $430,945.95 $26,648.46 $37,816.68
TOTAL NON -CONSTRUCTION COSTS $1,750,000.00 $1,685,534.86 $26,648.46 $37,816.68
TOTAL BOND ISSUE REQUIREMENT
Interest 1,490.80
Bank Fees 0
Total Surplus & Interest
39,307.48
Total Projections, Surplus, & Interest $65,955.94
13
EXHIBIT "C"
///
Rock Prairie Management
District No. 2
Brazos County, Texas
Independent Auditor's Report and
Financial Statements..
May 31, 2023
Rock Prairie Management District No. 2
May 31, 2023
Contents
Independent Auditor's Report 1
Management's Discussion and Analysis 4
Basic Financial Statements
Statement of Net Position and Governmental Funds Balance Sheet 10
Statement of Activities and Governmental Funds Revenues,
Expenditures and Changes in Fund Balances 11
Notes to Financial Statements 12
Required Supplementary Information
Budgetary Comparison Schedule — General Fund 26
Notes to Required Supplementary Information 27
Supplementary Information
Other Schedules Included Within This Report 28
Schedule of Services and Rates 29
Schedule of General Fund Expenditures 30
Schedule of Temporary Investments 31
Analysis of Taxes Levied and Receivable 32
Schedule of Long-term Debt Service Requirements by Years 34
Changes in Long-term Bonded Debt 37
Comparative Schedule of Revenues and Expenditures — General Fund
and Debt Service Fund 38
Board Members, Key Personnel and Consultants 40
Independent Auditor's Report
Board of Directors
Rock Prairie Management District No. 2
Brazos County, Texas
Opinions
We have audited the financial statements of the governmental activities and each major fund of Rock
Prairie Management District No. 2 (the District), as of and for the year ended May 31, 2023, and the related
notes to the financial statements, which collectively comprise the District's basic financial statements as
listed in the table of contents.
In our opinion, the accompanying financial statements present fairly, in all material respects, the
respective financial position of the governmental activities and each major fund of the District, as of
May 31, 2023, and the respective changes in financial position thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS). Our responsibilities under those standards are further described in the "Auditor's
Responsibilities for the Audit of the Financial Statements" section of our report. We are required to be
independent of the District and to meet our other ethical responsibilities, in accordance with the relevant
ethical requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the District's ability to continue as
a going concern for 12 months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinions. Reasonable assurance is a high level of assurance, but is not absolute assurance
Board of Directors
Rock Prairie Management District No. 2
Page 2
and, therefore, is not a guarantee that an audit conducted in accordance with GAAS will always detect a
material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment
made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the District's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the District's ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings and certain internal control -related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis and budgetary comparison schedule, as listed in the table of contents, be
presented to supplement the basic financial statements. Such information is the responsibility of
management and, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the
basic financial statements in an appropriate operational, economic or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Board of Directors
Rock Prairie Management District No. 2
Page 3
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the District's basic financial statements. The accompanying schedules required by the Texas
Commission on Environmental Quality listed in the table of contents are presented for purposes of
additional analysis and are not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying accounting and
other records used to prepare the basic financial statements. Such information has not been subjected to
the auditing procedures applied in the audits of the basic financial statements, and accordingly, we do not
express an opinion or provide any assurance on it.
Houston, Texas
, 2023
Rock Prairie Management District No. 2
Management's Discussion and Analysis
May 31, 2023
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the District's basic financial statements.
The District's basic financial statements are comprised of three components: 1) government -wide financial
statements, 2) fund financial statements, and 3) notes to financial statements. This report also contains
supplementary information required by the Governmental Accounting Standards Board and other information
required by the District's state oversight agency, the Texas Commission on Environmental Quality (the
Commission).
In accordance with required reporting standards, the District reports its financial activities as a special-purpose
government. Special-purpose governments are governmental entities which engage in a single governmental
program, such as the provision of water, sanitary sewer and drainage services. Other activities, such as the
provision of recreation facilities and solid waste collection, are minor activities and are not budgeted or
accounted for as separate programs. The financial statements of special-purpose governments combine two
types of financial statements into one statement. These two types of financial statements are the
government -wide financial statements and the fund financial statements. The fund financial statements are
presented on the left side of the statements, a column for adjustments is to the right of the fund financial
statements, and the government -wide financial statements are presented to the right side of the adjustments
column. The following sections describe the measurement focus of the two types of statements and the
significant differences in the information they provide.
Government -wide Financial Statements
The focus of government -wide financial statements is on the overall financial position and activities of the
District. The District's government -wide financial statements include the statement of net position and
statement of activities, which are prepared using accounting principles that are similar to commercial
enterprises. The purpose of the statement of net position is to attempt to report all of the assets, liabilities, and
deferred inflows and outflows of resources of the District. The District reports all of its assets when it acquires
or begins to maintain the assets and reports all of its liabilities when they are incurred.
The difference between the District's assets, liabilities, and deferred inflows and outflows of resources is labeled
as net position and this difference is similar to the total stockholders' equity presented by a commercial
enterprise.
The purpose of the statement of activities is to present the revenues and expenses of the District. Again, the
items presented on the statement of activities are measured in a manner similar to the approach used by a
commercial enterprise in that revenues are recognized when earned or established criteria are satisfied and
expenses are reported when incurred by the District. All changes in net position are reported when the
underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues
are reported even when they may not be collected for several months or years after the end of the accounting
period and expenses are recorded even though they may not have used cash during the current year.
4
Rock Prairie Management District No. 2
Management's Discussion and Analysis (Continued)
May 31, 2023
Although the statement of activities looks different from a commercial enterprise's statement of income, the
financial statement is different only in format, not substance. Whereas the bottom line in a commercial
enterprise is its net income, the District reports an amount described as change in net position, essentially the
same thing
Fund Financial Statements
Unlike government -wide financial statements, the focus of fund financial statements is directed to specific
activities of the District rather than the District as a whole. Except for the general fund, a specific fund is
established to satisfy managerial control over resources or to satisfy finance -related legal requirements
established by external parties or governmental statutes or regulations.
Governmental Funds
Governmental -fund financial statements consist of a balance sheet and a statement of revenues, expenditures
and changes in fund balances and are prepared on an accounting basis that is significantly different from that
used to prepare the government -wide financial statements.
In general, these financial statements have a short-term emphasis and, for the most part, measure and account for
cash and other assets that can easily be converted into cash. For example, amounts reported on the balance sheet
include items such as cash and receivables collectible within a very short period of time, but do not include
capital assets such as land and water, sewer and drainage systems. Fund liabilities include amounts that are to be
paid within a very short period after the end of the fiscal year. The difference between a fund's assets, liabilities,
and deferred inflows and outflows of resources is labeled the fund balance and generally indicates the amount
that can be used to finance the next fiscal year's activities. Likewise, the operating statement for governmental
funds reports only those revenues and expenditures that were collected in cash or paid with cash, respectively,
during the current period or very shortly after the end of the fiscal year.
Because the focus of the government -wide and fund financial statements is different, there are significant
differences between the totals presented in these financial statements. For this reason, there is an ana:ysis in the
notes to financial statements that describes the adjustments to fund balances to arrive at net position presented in
the governmental activities column on the statement of net position. Also, there is an analysis in the notes to
financial statements that reconciles the total change in fund balances for all governmental funds to the change in
net position, as reported in the governmental activities column in the statement of activities.
Notes to Financial Statements
The notes to financial statements provide additional information that is essential to a full understanding of the
data found in the government -wide and fund financial statements.
5
Rock Prairie Management District No. 2
Management's Discussion and Analysis (Continued)
May 31, 2023
Financial Analysis of the District as a Whole
The District's overall financial position and activities for the past two years are summarized as follows, based on
the information included in the government -wide financial statements.
Summary of Net Position
2023 2022
Current and other assets $ 397,784 $ 165,072
Capital assets 595,072 595,072
Total assets $ 992,856 $ 760,144
Long-term liabilities $ 18,441,025 $ 16,179,648
Other liabilities 92,132 34,353
Total liabilities 18,533,157 16,214,001
Net position:
Net investment in capital assets (17,771,233) (15,579,308)
Restricted 251,073 140,400
Unrestricted (20,141) (14,949)
Total net position $ (17,540,301) $ (15,453,8571
The total net position of the District decreased by $2,086,444 or about 14 percent. The majority of the decrease
in net position is related to the conveyance of capital assets to another governmental entity for maintenance.
Although the District's investment in its capital assets is reported net of related debt, it should be noted that the
resources needed to repay this debt must be provided from other sources, since the capital assets themselves
cannot be used to liquidate these liabilities.
Summary of Changes in Net Position
2023 2022
Revenues:
Property taxes $ 363,725 $ 216,945
Other revenues 11,314 2,145
Total revenues
375,039 219,090
6
Rock Prairie Management District No. 2
Management's Discussion and Analysis (Continued)
May 31, 2023
Summary of Changes in Net Position (Continued)
2023 2022
Expenses:
Services $ 273,037 $ 151,853
Conveyance of capital assets 1,869,145 667,293
Debt service 319,301 65,503
Total expenses 2,461,483 884,65?
Change in net position (2,086,444) (665,563)
Net position, beginning of year (15,453,857) (14,788,288)
Net position, end of year $ (17,540,301) $ (15,453,857)
Financial Analysis of the District's Funds
The District's combined fund balances as of the end of the fiscal year ended May 31, 2023, were $338,180, an
increase of $195,217 from the prior year.
The general fund's fund balance decreased by $6,873, primarily due to service operations expenditures and debt
issuance costs exceeding property tax revenues and developer advances received.
The debt service fund's fund balance increased by $201,730 due to property tax revenues and proceeds received
from the Series 2022 road bonds exceeding bond principal and interest requirements.
The capital projects fund's fund balance increased by $360 due to proceeds received from the Series 2022 road
bonds exceeding capital outlay expenditures and debt issuance costs.
General Fund Budgetary Highlights
There were several differences between the final budgetary amounts and actual amounts. The major 3ifferences
between budget and actual were due to property tax revenues, professional fees expenditures, repairs and
maintenance expenditures and developer advances being greater than anticipated. In addition, debt issuance
costs incurred were not budgeted for. The fund balance as of May 31, 2023, was expected to be ($16,443) and
the actual end -of -year fund balance was ($23,316).
7
Rock Prairie Management District No. 2
Management's Discussion and Analysis (Continued)
May 31, 2023
Capital Assets and Related Debt
Capital Assets
Capital assets held by the District at the end of the current and previous fiscal years are summarized as follows:
Capital Assets
Land and improvements
2023 2022
$ 595,072 $ 595,072
During the current year, there were no additions to capital assets.
Developers within the District have constructed facilities on behalf of the District under the terms of the
contracts with the District. The District has agreed to purchase these facilities from the proceeds of future bond
issues subject to the approval of the Commission, if required. As of May 31, 2023, a liability for developer
constructed capital assets of $13,210,785 was recorded in the government -wide financial statements.
Since inception, a developer has advanced $417,800 to the Districtfor operations. The District does not have
sufficient funds or anticipated revenues sufficient to liquidate these advances during the forthcoming fiscal year.
These advances have been recorded as liabilities in the government -wide financial statements.
Debt
The changes in the debt position of the District during the fiscal year ended May 31, 2023, are summarized as
follows:
Long-term debt payable, beginning of year $ 16,179,648
Increases in long-term debt 4,198,469
Decreases in long-term debt (1,937,092)
Long-term debt payable, end of year $ 18,441,025
At May 31, 2023, the District had $71,400,000 of unlimited tax bonds authorized, but unissued, for the purposes
of acquiring, constructing and improving the water, sanitary sewer and drainage systems within the District and
$101,600,000 of unlimited tax bonds authorized, but unissued, for the purpose of constructing road and paving
facilities.
The District's bonds carry no underlying rating. The Series 2022 road bonds carry a "AA" rating from Standard
& Poor's by virtue of bond insurance issued by Build America Mutual Assurance Company.
8
Rock Prairie Management District No. 2
Management's Discussion and Analysis (Continued)
May 31, 2023
Other Relevant Factors
Relationship to the City of College Station
Under existing Texas law, since the District lies wholly within the corporate boundaries of the City of College
Station (the City), the District must conform to the City ordinance consenting to the creation of the District. The
District and the City entered into that certain Utility and Road Agreement dated February 17, 2015 (the Utility
Agreement), which provides the terms for the provision of water, sewer, drainage and road facilities (=he
Facilities) within the District. Pursuant to the Agreement, the Facilities are to be constructed by the developers
and, with the exception of storm water detention and recreational facilities, subsequently conveyed to the City
for operation. Water and sewer service to the District is provided by the City. The City has agreed to provide
the District with its ultimate requirements for water supply and wastewater treatment capacity withou= capital
charges of any kind. Under the Utility Agreement, the District is authorized to issue bonds to finance the
construction and acquisition of the Facilities, and must obtain City consent for same which shall be granted to
the extent such issuances comply with the City's terms of consent to the creation of the District. Lastly, the
Utility Agreement restricts the City's ability to dissolve the District which may not occur until the termination or
expiration of that certain Infrastructure and Economic Development Agreement between the City and College
Station Town Center, Inc., effective July 10, 2015, as partially assigned to the District and College Station
Downtown Residential, LLC. The City has agreed to afford the District the opportunity to discharge any
remaining obligations under any existing reimbursement agreement with a developer in the District by
authorizing the sale of bonds during a dissolution transition period or selling bonds of the City in an amount
adequate to discharge the District's obligations.
Contingencies
Developers of the District are constructing water, sewer, drainage and road facilities within the bouncaries of the
District. The District has agreed to reimburse the developers for a portion of these costs, plus interest, from the
proceeds of future bond sales, to the extent approved by the Commission, if required. The District's engineer
has stated that current construction contract amounts are approximately $3,010,000. This amount has not been
recorded in the financial statements since the facilities are not complete or operational.
Subsequent Event
On June 7, 2023, the District sold its Series 2023 Unlimited Tax Road Bonds in the amount of $1,750,000 at a
net effective interest rate of approximately 4.44 percent. The bonds were sold to finance construction of road
facilities within the District.
9
Rock Prairie Management District No. 2
Statement of Net Position and Governmental Funds Balance Sheet
May 31, 2023
Debt Capital Statement
General Service Projects of Net
Fund Fund Fund Total Adjustments Position
Assets
Cash $ 34,400 $ 46,650 $ - $ 81,050 $ - $ 81,050
Short-term investments - 303,145 360 303,505 303,505
Property taxes receivable 3,175 10,054 - 13,229 13,229
Interfund receivable 11,341 11,341 (11,341) -
Capital assets, land and improvements - 595,072 595,072
Total assets $ 37,575 $ 371,190 $ 360 $ 409,125 $ . 583,731 $ 992,856
Liabilities
Accounts payable $ 46,375 $ - $ - $ 46,375 $ - $ 46,375
Accrued interest payable - - - 45,757 45,757
Interfund payable 11,341 11,341 (11,341)
Long-term liabilities:
Due within one year - 65,000 65,000
Due after one year - 18,376,025 18,376,025
Total liabilities 57,716 0 0 57,716 18,475,441 - 18,533,157
Deferred Inflows of Resources
Deferred property tax revenues 3,175 10,054 0 13,229 (13,229) 0
Fund Balances (Deficit)/Net Position
Fund balances (Deficit):
Restricted:
Unlimited tax road bonds 361,136 - 361,136 (361,136)
Roads - 360 360 (360)
Unassigned (23,316) - - (23,316) 23,316
Total fund balances (Deficit) (23,316) 361,136 360 338,180 (338,180)
Total liabilities, deferred inflows of
resources and fund balances $ 37,575 $ 371,190 $ 360 $ 409,125
Net position:
Net investment in capital assets
Restricted for debt service
Restricted for capital projects
Unrestricted
Total net position
0
(17,771,233) (17,771,233)
250,713 250,713
360 360
(20,141) (20,141)
$ (17,540,301) $ (17,540,301)
See Notes to Financial Statements
10
Rock Prairie Management District No. 2
Statement of Activities and Governmental Funds Revenues,
Expenditures and Changes in Fund Balances
Year Ended May 31, 2023
Debt Capital Satement
General Service Projects of
Fund Fund Fund Total Adjustments Activities
Revenues
Property taxes $ 85,613 $ 268,435 $ - $ 354,048 $ 9,677 $ 363,725
Penalty and interest - 3,660 - 3,660 - 3,660
Investment income 6,841 813 7,654 7,654
Total revenues 85,613 278,936 813 365,362 9,677 375,039
Expenditures/Expenses
Service operations:
Professional fees 116,642 1,134 117,776 4,500 122,276
Contracted services 26,967 14,460 41,427 - 41,427
Repairs and maintenance 87,212 - 87,212 87,212
Other expenditures 14,332 7,790 22,122 - 22,122
Capital outlay - 2,152,990 2,152,990 (2,152,990) -
Conveyance ofcapital assets - 1,869,145 1,869,145
Debt service:
Principal retirement 65,000 - 65,000 (65,000)
Interest and fees 109,447 109,447 32,117 141,564
Debt issuance costs 20,333 - 157,404 177,737 - 177,737
Total expenditures/expenses 265,486 197,831 2,310,394 2,773,711 (312,228) 2,461,483
Excess (Deficiency) of Revenues Over
Expenditures (179,873) 81,105 (2,309,581) (2,408,349) 321,905
Other Financing Sources (Uses)
Developer advances received 173,000 - 173,000 (173,000)
General obligation bonds issued 120,625 2,379,375 2,500,000 (2,500,000)
Discount on debt issued - - (69,434) (69,434) 69,434
Total other financing sources 173,000 120,625 2,309,941 2,603,566 (2,603,566)
Excess (Deficiency) of Revenues and Other
Financing Sources over Expenditures
and Other Financing Uses (6,873) 201,730 360 195,217 (195,217)
Change in Net Position (2,086,444) (2,086,444)
Fund Balances (Defcit)/Net Position
Beginning of year
End of year
(16,443) 159,406 142,963 (15,453,857)
$ (23,316) $ 361,136 $ 360 $ 338,180 $ 0 $ (17,540,301)
See Notes to Financial Statements 11
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Note 1: Nature of Operations and Summary of Significant Accounting Policies
Rock Prairie Management District No. 2 (the District) was created pursuant to Section 52, Article III,
and Section 59, Article XVI, of the Texas Constitution by an Act of the 83`d Legislature of the State
of Texas, effective June 14, 2013, codified as Chapter 3909, Texas Special District Local Laws Code
(the Act). The District operates in accordance with Chapter 375 of the Texas Local Government
Code, and is subject to the continuing supervision of the Texas Commission on Environmental
Quality (the Commission). The District was created to promote, encourage, develop and maintain
employment, commerce, transportation, housing, tourism, recreation, the arts, entertainment,
economic development, safety and the public welfare within the District. The affairs of the District
are managed by a Board of Directors (the Board) composed of persons appointed by the governing
body of the City of College Station (the City).
The Board sets the policies of the District. The accounting and reporting policies of the District
conform to accounting principles generally accepted in the United States of America for state and
local governments, as defined by the Governmental Accounting Standards Board. The following is a
summary of the significant accounting and reporting policies of the District:
Reporting Entity
The accompanying government -wide financial statements present the financial statements of the
District. There are no component units that are legally separate entities for which the District is
considered to be financially accountable. Accountability is defined as the District's substantive
appointment of the voting majority of the component unit's governing board. Furthermore, to be
financially accountable, the District must be able to impose its will upon the component unit or there
must be a possibility that the component unit may provide specific financial benefits to, or impose
specific financial burdens on, the District.
Government -wide and Fund Financial Statements
In accordance with required reporting standards, the District reports its financial activities as a
special-purpose government. Special-purpose governments are governmental entities which engage
in a single governmental program, such as the provision of water, wastewater, drainage and other
related services. The financial statements of special-purpose governments combine two types of
financial statements into one statement. These two types of financial statements are the
government -wide financial statements and the fund financial statements. The fund financial
statements are presented with a column for adjustments to convert to the government -wide financial
statements.
The government -wide financial statements report information on all of the activities of the District.
As a general rule, the effect of interfund activity has been eliminated from the government -wide
financial statements. Governmental activities generally are financed through taxes, charges for
services and intergovernmental revenues. The statement of activities reflects the revenues and
expenses of the District.
12
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
The fund financial statements provide information about the District's governmental funds. Separate
statements for each governmental fund are presented. The emphasis of fund financial statements is
directed to specific activities of the District.
The District presents the following major governmental funds:
General Fund — The general fund is the primary operating fund of the District which accounts for all
financial resources not accounted for in another fund. Revenues are derived primarily from property
taxes, charges for services and interest income.
Debt Service Fund— The debt service fund is use to account for financial resources that are restricted,
committed or assigned to expenditures for principal and interest related costs, as well as the f nancial
resources being accumulated for future debt service.
Capital Projects Fund — The capital projects fund is used to account for financial resources that are
restricted, committed or assigned to expenditures for capital outlays.
Fund Balances — Governmental Funds
The fund balances for the District's governmental funds can be displayed in up to five components:
Nonspendable — Amounts that are not in a spendable form or are required to be maintained ir_tact.
Restricted — Amounts that can be spent only for the specific purposes stipulated by external resource
providers, constitutionally or through enabling legislation. Restrictions may be changed or lifted only
with the consent of resource providers.
Committed — Amounts that can be used only for the specific purposes determined by resolution of the
Board. Commitments may be changed or lifted only by issuance of a resolution by the District's
Board.
Assigned — Amounts intended to be used by the District for specific purposes as determined by
management. In governmental funds other than the general fund, assigned fund balance represents the
amount that is not restricted or committed. This indicates that resources in other governmental funds
are, at a minimum, intended to be used for the purpose of that fund.
Unassigned — The residual classification for the general fund and includes all amounts not contained
in the other classifications.
13
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
The District considers restricted amounts to have been spent when an expenditure is incurred for
purposes for which both restricted and unrestricted fund balance is available. The District applies
committed amounts first, followed by assigned amounts, and then unassigned amounts when an
expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance
classifications could be used.
Measurement Focus and Basis of Accounting
Government -wide Financial Statements
The government -wide financial statements are reported using the economic resources measurement
focus and accrual basis of accounting. Revenues are recorded when earned and expenses are
recorded at the time liabilities are incurred, regardless of the timing of related cash flows.
Nonexchange transactions, in which the District receives (or gives) value without directly giving (or
receiving) equal value in exchange, include property taxes and donations. Recognition standards are
based on the characteristics and classes of nonexchange transactions. Revenues from property taxes
are recognized in the period for which the taxes are levied. Intergovernmental revenues are
recognized as revenues, net of estimated refunds and uncollectible amounts, in the accounting period
when an enforceable legal claim to the assets arises and the use of resources is required or is first
permitted. Donations are recognized as revenues, net of estimated uncollectible amounts, as soon as
all eligibility requirements imposed by the provider have been met. Amounts received before all
eligibility requirements have been met are reported as liabilities.
Fund Financial Statements
Governmental funds are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. With this measurement focus, only current assets and liabilities
are generally included on the balance sheet. The statement of governmental funds revenues,
expenditures and changes in fund balances presents increases (revenues and other financing sources)
and decreases (expenditures and other financing uses) in spendable resources. General capital asset
acquisitions are reported as expenditures and proceeds of long-term debt are reported as other
financing sources. Under the modified accrual basis of accounting, revenues are recognized when
both measurable and available. The District considers revenues reported in the governmental funds
to be available if they are collectible within 60 days after year-end. Principal revenue sources
considered susceptible to accrual include taxes, charges for services and investment income. Other
revenues are considered to be measurable and available only when cash is received by the District.
Expenditures are recorded when the related fund liability is incurred, except for principal and interest
on general long-term debt, which are recognized as expenditures when payment is due.
14
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Deferred Outflows and Inflows of Resources
A deferred outflow of resources is a consumption of net position that is applicable to a future
reporting period and a deferred inflow of resources is an acquisition of net position that is applicable
to a future reporting period.
Interfund Transactions
Transfers from one fund to another fund are reported as interfund receivables and payables if there is
intent to repay the amount and if there is the ability to repay the advance on a timely basis. Transfers
represent legally authorized transfers from the fund receiving resources to the fund through which
the resources are to be expended.
Pension Costs
The District does not participate in a pension plan and, therefore, has no pension costs.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted
in the United States of America requires management to make estimates and assumptions tha. affect
the reported amounts of assets, liabilities and deferred inflows and outflows of resources and
disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses/expenditures during the reporting period. Actual results could
differ from those estimates.
Investments and Investment Income
Investments in certificates of deposit, U.S. Government and agency securities, and certain popled
funds, which have a remaining maturity of one year or less at the date of purchase, are recorded at
amortized cost. All other investments are carried at fair value. Fair value is determined using quoted
market values.
Investment income includes dividends and interest income and the net change for the year in the fair
value of investments carried at fair value. Investment income is credited to the fund in which the
investment is recorded.
Property Taxes
An appraisal district annually prepares appraisal records listing all property within the District and
the appraised value of each parcel or item as of January 1. Additionally, on January 1, a tax Len
attaches to property to secure the payment of all taxes, penalty and interest ultimately imposed for
the year on the property. After the District receives its certified appraisal roll from the appraisal
15
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
district, the rate of taxation is set by the Board of the District based upon the aggregate appraisal
value. Taxes are due and payable October 1 or when billed, whichever is later, and become
delinquent after January 31 of the following year.
In the governmental funds, property taxes are initially recorded as receivables and deferred inflows
of resources at the time the tax levy is billed. Revenues recognized during the fiscal year ended
May 31, 2023, include collections during the current period or within 60 days of year-end related
to the 2022 and prior years' tax levies.
In the government -wide statement of net position, property taxes are considered earned in the budget
year for which they are levied. For the District's fiscal year ended May 31, 2023, the 2022 tax levy
is considered earned during the current fiscal year. In addition to property taxes levied, any
delinquent taxes are recorded net of amounts considered uncollectible.
Capital Assets
The District conveys title to all capital assets, with the exception of storm water detention and
recreational facilities, to the City. Capital assets are reported in the government -wide financial
statements. Capital assets are defined by the District as assets with an individual cost of $5,000 or
more and an estimated useful life of two years or more. Purchased or constructed capital assets are
reported at cost or estimated historical cost. Donated capital assets are recorded at their estimated
acquisition value at the date of donation.
The cost of normal maintenance and repairs that do not add to the value of the asset or materially
extend the asset lives are not capitalized.
Debt Issuance Costs
Debt issuance costs, other than prepaid insurance, do not meet the definition of an asset or deferred
outflows of resources since the costs are not applicable to a future period and, therefore, are
recognized as an expense/expenditure in the period incurred.
Long-term Obligations
In the government -wide financial statements, long-term debt and other long-term obligations are
reported as liabilities. Premiums and discounts on bonds are recognized as a component of
long-term liabilities and amortized over the life of the related debt using the effective interest rate
method. Bonds payable are reported net of the applicable bond premium or discount.
In the fund financial statements, governmental fund types recognize bond premiums and discounts
during the current period. The face amount of debt issued is reported as other financing sources.
Premiums received on debt issuances are reported as other financing sources while discounts on debt
issuances are reported as other financing uses. Issuance costs, whether or not withheld from the
actual debt proceeds received, are reported as debt service expenditures.
16
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Net Position/Fund Balances
Fund balances and net position are reported as restricted when constraints placed on them are either
externally imposed by creditors, grantors, contributors or laws or regulations of other governments or
are imposed by law through constitutional provisions or enabling legislation.
When both restricted and unrestricted resources are available for use, generally, it is the Distr_ct's
policy to use restricted resources first.
Reconciliation of Government -wide and Fund Financial Statements
Amounts reported for net position of governmental activities in the statement of net position and
fund balances in the governmental funds balance sheet are different because:
Capital assets used in governmental activities are not financial resources
and are not reported in the funds. $ 595,072
Property tax revenue recognition and the related reduction of deferred
inflows of resources are subject to availability of funds in the fund
financial statements.
13,229
Accrued interest on long-term liabilities is not payable with current
financial resources and is not reported in the funds. (45,757)
Long-term liabilities are not due and payable in the current period and
are not reported in the funds. (18,441,025)
Adjustment to fund balances to arrive at net position. $ (17,878,481)
Amounts reported for change in net position of governmental activities in the statement of activities
are different from change in fund balances in the governmental funds statement of revenues,
expenditures and change in fund balances because:
Change in fund balances.
Governmental funds report capital outlays as expenditures. However,
for government -wide financial statements, the cost of capitalized assets
is conveyed to the City for maintenance, exclusive of detention and
recreational facilities. This is the amount by which capital outlay
expenditures exceeded conveyed capital assets and noncapitali7Pd
costs in the current year.
$ 195,217
279,345
17
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Governmental funds report developer advances as other financing sources
or uses as amounts are received or paid. However, for government -wide
financial statements, these amounts are recorded as an increase or
decrease in due to developer.
Governmental funds report the effect of premiums and discounts when
debt is first issued, whereas these amounts are deferred and amortized
in the statement of activities.
Governmental funds report proceeds from the sale of bonds because they
provide current financial resources to governmental funds. Principal
payments on debt are recorded as expenditures. None of these
transactions, however, have any effect on net position.
Revenues that do not provide current financial resources are not reported
as revenues for the funds, but are reported as revenues in the statement
of activities.
$ (173,000)
69,434
(2,435,000)
9,677
Some expenses reported in the statement of activities do not require the
use of current financial resources and, therefore, are not reported as
expenditures in governmental funds. (32,117)
Change in net position of governmental activities. $ (2,086,444)
Note 2: Deposits, Investments and Investment Income
Deposits
Custodial credit risk is the risk that, in the event of a bank failure, a governments deposits may not
be returned to it. The District's deposit policy for custodial credit risk requires compliance with the
provisions of state law.
State law requires collateralization of all deposits with federal depository insurance; a surety bond;
bonds and other obligations of the U.S. Treasury, U.S. agencies or instrumentalities of the State of
Texas; or certain collateralized mortgage obligations directly issued by a federal agency or
instrumentality of the United States, the underlying security for which is guaranteed by an agency or
instrumentality of the United States or letters of credit issued by a federal home loan bank. The
District has entered into one or more collateral security agreements with depository institutions that
are more restrictive than state laws as to the type of securities with which the Districts deposits may
be collateralized.
At May 31, 2023, none of the District's bank balances were exposed to custodial credit risk.
18
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Investments
The District may legally invest in obligations of the United States or its agencies and
instrumentalities, direct obligations of Texas or its agencies or instrumentalities, collateralized
mortgage obligations directly issued by a federal agency or instrumentality of the United States, the
underlying security for which is guaranteed by an agency or instrumentality of the United Stages,
other obligations guaranteed as to principal and interest by the State of Texas or the United States or
their agencies and instrumentalities, including obligations that are fully guaranteed or insured by the
Federal Deposit Insurance Corporation or by the explicit full faith and credit of the United States,
obligations of states, agencies and counties and other political subdivisions with an investment rating
not less than "A," insured or collateralized certificates of deposit, and certain bankers' acceptances,
repurchase agreements, mutual funds, commercial paper, guaranteed investment contracts and
investment pools.
The District's investment policy may be more restrictive than the Public Funds Investment Act.
The District invests in Texas CLASS, an external investment pool that is not registered with the
Securities and Exchange Commission. A Board of Trustees, elected by the participants, has
oversight of Texas CLASS. The District's investments may be redeemed at any time. Texas CLASS
attempts to minimize its exposure to market and credit risk through the use of various strategies and
credit monitoring techniques and limits its investment in any issuer to the top two ratings issued by
nationally recognized statistical rating organizations. The District's investments in Texas CLASS are
reported at net asset value.
At May 31, 2023, the District has the following investments and maturities:
Maturities in Years
Less Than More Than
Type Fair Value 1 1-5 6-10 10
Texas CLASS $ 303,505 $ 303,505 $ 0 $ 0 $ 0
Interest Rate Risk. As a means of limiting its exposure to fair value losses arising from rising
interest rates, the District's investment policy does not allow investments in certain mortgage -backed
securities, collateralized mortgage obligations with a final maturity date in excess of 10 years and
interest rate indexed collateralized mortgage obligations. The external investment pool is presented
as an investment with a maturity of less than one year because it is redeemable in full immed_ately.
Credit Risk. Credit risk is the risk that the issuer or other counterparty to an investment will not
fulfill its obligations. At May 31, 2023, the District's investments in Texas CLASS were rated
"AAAm" by Standard & Poor's.
19
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Summary of Carrying Values
The carrying values of deposits and investments shown previously are included in the balance sheet
and statement of net position at May 31, 2023, as follows:
Carrying value;
Deposits $ 81,050
Investments 303,505
Total $ 384,555
Investment Income
Investment income of $7,654 for the year ended May 31, 2023, consisted of interest income.
Fair Value Measurements
The District has the following recurring fair value measurements as of May 31, 2023:
• Pooled investments of $303,505 are valued at fair value per share of the pool's underlying
portfolio.
Note 3: Capital Assets
A summary of changes in capital assets for the year ended May 31, 2023, is presented as follows:
Governmental Activities
Capital assets, non -depreciable:
Land and improvements
Note 4: Long-term Liabilities
Balances, Balances,
Beginning End
of Year Additions of Year
$ 595,072 $ 0 $ 595,072
Changes in long-term liabilities for the year ended May 31, 2023, were as follows.
20
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Governmental Activities
Bonds payable:
General obligation bonds
Less discounts on bonds
Due to developer, advances
Due to developers, construction
Balances,
Beginning
of Year Increases
Decreases
$ 2,500,000 $ 2,500,000 $
55,282 69,434
2,444,718
244,800
13,490,130
Balances,
End
of Year
Amounts
Due in
One Year
65,000 $ 4,935,000 $ 55,000
2,156 122,560
2,430,566 62,844
173,000
1,594,903 1,874,248
Total governmental activities
long-term liabilities $ 16,179,648 $ 4,198,469 $
General Obligation Bonds
Amount outstanding, May 31, 2023
Interest rates
Maturity dates, serially
beginning/ending
Interest payment dates
Callable date*
4,812,440
417,800
13,210,785
55,000
1,937,092 $ 18,441,025 $ 65,000
Road
Series 2021
$2,435,000
1.20% to 3.00%
September 1,
2023/2050
September 1/March 1
September 1, 2027
Road
Series 2022
$2,500,000
4.50% to 7.0C%
September 1,
2024/2050
September 1/March 1
September 1, 2029
*Or any date thereafter, callable at par plus accrued interest to the date of redemption.
Annual Debt Service Requirements
The following schedule shows the annual debt service requirements to pay principal and interest on
general obligation bonds outstanding at May 31, 2023:
21
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Year Principal Interest Total
2024 $ 65,000 $ 182,589 $ 247,589
2025 125,000 179,563 304,563
2026 130,000 174,148 304,148
2027 130,000 168,460 298,460
2028 135,000 162,625 297,625
2029-2033 750,000 728,250 1,478,250
2034-2038 850,000 584,779 1,434,779
2039-2043 925,000 424,896 1,349,896
2044-2048 1,090,000 242,292 1,332,292
2049-2051 735,000 41,475 776,475
Total $ 4,935,000 $ 2,889,077 $ 7,824,077
The bonds are payable from the proceeds of an ad valorem tax levied upon all property within the
District subject to taxation, without limitation as to rate or amount.
Bonds voted:
Water, sewer and drainage facilities $ 71,400,000
Road and paving facilities 106,600,000
Refunding bond authorization 178,000,000
Bonds sold:
Road and paving facilities 5,000,000
Due to Developers
Developers of the District have constructed facilities on behalf of the District. With the exception of
storm water detention and recreational facilities, the District conveys these facilities to the City for
operation and the District has agreed to reimburse the developers for these construction costs and
interest to the extent approved by the Commission, if required, from the proceeds of future bond
sales. The District's engineer estimates reimbursable costs for completed projects are $13,210,785.
These amounts have been recorded in the financial statements as long-term liabilities.
22
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Developer Advances
Since inception, a developer has advanced $417,800 to the District for operations. The District does
not have sufficient funds or anticipated revenues sufficient to liquidate these advances during the
forthcoming fiscal year. These advances have been recorded as liabilities in the government -wide
financial statements.
Note 5: Significant Bond Order and Commission Requirements
A. The Bond Orders requires that the District levy and collect an ad valorem debt service tax
sufficient to pay interest and principal on bonds when due. During the year ended May 31, 2023,
the District levied an ad valorem debt service tax at the rate of $0.3800 per $100 of assessed
valuation, which resulted in a tax levy of $276,430 on the taxable valuation of $72,744,8L3 for
the 2022 tax year. The interest and principal requirements to be paid from the tax revenues and
available resources are $233,620 of which $77,106 has been paid and $156,514 is due
September 1, 2023.
B. In accordance with the Bond Orders, a portion of the bond proceeds was deposited into the debt
service fund and reserved for the payment of bond interest during the construction period. This
bond interest reserve is reduced as the interest is paid.
Bond interest reserve, beginning of year
Additions --Interest appropriated from bond proceeds,
Road Series 2022
Deductions --Appropriation from bond interest paid:
Road Series 2022
Road Series 2021
Bond interest reserve, end of year
Note 6: Maintenance Taxes
$ 5,268
120,625
(45,905)
(5,268)
$ 74,720
At an election held November 3, 2015, voters authorized a maintenance tax not to exceed $1.D0 per
$100 of assessed valuation on all property within the District subject to taxation. During the year
ended May 31, 2023, the District levied an ad valorem maintenance tax at the rate of $0.1200 per
$100 assessed valuation, which resulted in a tax levy of $87,294 on the taxable valuation of
$72,744,843 for the 2022 tax year. The maintenance tax is being used by the general fund to pay
expenditures of operating the District.
23
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Note 7: Risk Management
The District is exposed to various risks of loss related to torts; theft of, damage to and destruction of
assets; errors and omissions; and natural disasters for which the District carries commercial
insurance. The District has not significantly reduced insurance coverage or had settlements which
exceeded coverage amounts in the past three fiscal years.
Note 8: Utility and Road Agreement
The District and the City entered into that certain Utility and Road Agreement dated February 17,
2015 (the Utility Agreement), which provides the terms for the provision of water, sewer, drainage
and road facilities (the Facilities) within the District. Pursuant to the Agreement, the Facilities are to
be constructed by the developer and, with the exception of storm water detention and recreational
facilities, subsequently conveyed to the City for operation. Water and sewer service to the District is
provided by the City. The City has agreed to provide the District with its ultimate requirements for
water supply and wastewater treatment capacity without capital charges of any kind. Under the
Utility Agreement, the District is authorized to issue bonds to finance the construction and
acquisition of the Facilities, and must obtain City consent for same which shall be granted to the
extent such issuances comply with the City's terms of consent to the creation of the District. Lastly,
the Utility Agreement restricts the City's ability to dissolve the District which may not occur until the
termination or expiration of that certain Infrastructure and Economic Development Agreement
between the City and College Station Town Center, Inc., effective July 10, 2015, as partially
assigned to the District and College Station Downtown Residential, LLC. The City has agreed to
afford the District the opportunity to discharge any remaining obligations under any existing
reimbursement agreement with a developer in the District by authorizing the sale of bonds during a
dissolution transition period or selling bonds of the City in an amount adequate to discharge the
District's obligations.
Note 9: Contingencies
Developers of the District are constructing water, sewer, drainage and road facilities within the
boundaries of the District. The District has agreed to reimburse the developers for a portion of these
costs, plus interest, from the proceeds of future bond sales, to the extent approved by the
Commission, if required. The District's engineer has stated that current construction contract
amounts are approximately $3,010,000. This amount has not been recorded in the financial
statements since the facilities are not complete or operational.
24
Rock Prairie Management District No. 2
Notes to Financial Statements
May 31, 2023
Note 10: Deficit Fund Balance
At May 31, 2023, the District's general fund had a deficit fund balance of $23,316. The District
anticipates that growth within the District will generate revenues sufficient to pay costs of operating
the District.
Note 11: Subsequent Event
On June 7, 2023, the District sold its Series 2023 Unlimited Tax Road Bonds in the -amount of
$1,750,000 at a net effective interest rate of approximately 4.44 percent-., The bonds were sold to
finance construction of road facilities within the District.
25
Required Supplementary Information
Rock Prairie Management District No. 2
Budgetary Comparison Schedule — General Fund
Year Ended May 31, 2023
Variance
Original Favorable
Budget Actual (Unfavorable)
Revenues
Property taxes $ 75,700 $ 85,613 $ 9,913
Expenditures
Service operations:
Professional fees 103,500 116,642 (13,142)
Contracted services 35,000 26,967 8,033
Repairs and maintenance 70,230 87,212 (16,982)
Other expenditures 12,410 14,332 (1,922)
Debt service, debt issuance costs - 20,333 (20,333)
Total expenditures 221.140 265,486 (L4,346)
Deficiency of Revenues Over Expenditures (145,440) (179,873) (34,433)
Other Financing Sources
Developer advances received 145,440 173,000 27,560
Deficiency of Revenues and Other Financing
Sources Over Expenditures and Other
Financing Uses (6,873) ."6,873)
Fund Balance (Deficit), Beginning of Year (16,443) (16,443)
Fund Balance (Deficit), End of Year $ (16,443) $ (23,316) $ :6,873)
26
Rock Prairie Management District No. 2
Notes to Required Supplementary Information
May 31, 2023
Budgets and Budgetary Accounting
An annual operating budget is prepared for the general fund by the District's consultants. The budget
reflects resources expected to be received during the year and expenditures expected to be incurred. The
Board of Directors is required to adopt the budget prior to the start of its fiscal year. The budget is not a
spending limitation (a legally restricted appropriation). The original budget of the general fund was not
amended during fiscal 2023.
The District prepares its annual operating budget on a basis consistent with accounting principles
generally accepted in the United States of America. The Budgetary Comparison Schedule - General Fund
presents the original and revised budget amounts, if revised, compared to the actual amounts of revenues
and expenditures for the current year.
27
Supplementary Information
Rock Prairie Management District No. 2
Other Schedules Included Within This Report
May 31, 2023
(Schedules included are checked or explanatory notes provided for omitted schedules.)
[X] Notes Required by the Water District Accounting Manual
See "Notes to Financial Statements," Pages 12-25
[X] Schedule of Services and Rates
[X] Schedule of General Fund Expenditures
[X] Schedule of Temporary Investments
[X] Analysis of Taxes Levied and Receivable
[X] Schedule of Long-term Debt Service Requirements by Years
[X] Changes in Long-term Bonded Debt
[X] Comparative Schedule of Revenues and Expenditures — General Fund and Debt Service Fund
[X] Board Members, Key Personnel and Consultants
28
Rock Prairie Management District No. 2
Schedule of Services and Rates
Year Ended May 31, 2023
1. Services provided by the District:
Retail Water _Wholesale Water X Drainage
_Retail Wastewater _ Wholes ale Wastewater Irrigation
— X Parks/Recreation _Fire Protection Security
_Solid Waste/Garbage _Flood Control X Roads
Participates in joint venture, regional system and/or wastewater service (other than emergency interconnect)
Other The City of College Station provides services to the District's customers pursuant to that certain Utility and
Road Agreement dated February 17. 201$, between the District and the City of College Station.
29
Rock Prairie Management District No. 2
Schedule of General Fund Expenditures
Year Ended May 31, 2023
Personnel (including benefits) $
Professional Fees
Auditing $ 12,300
Legal 68,386
Engineering 35,956
Financial advisor
Purchased Services for Resale
Bulk water and wastewater service purchases
Regional Water Fee
Contracted Services
Bookkeeping
General manager
Appraisal district
Tax collector
Security
Other contracted services
26,967&
Utilities
Repairs and Maintenance
Administrative Expenditures
Directors' fees -
Office supplies 2,311
Insurance 3,065
Other administrative expenditures 8,956
Capital Outlay
Capitalized assets
Expenditures not capitalized,
Tap Connection rrlpenditures
Solid Waste,Disposal
Fire Fighting
Parks and Recreation
Other Expenditures
Total expenditures
116,642
26,967
87,212
14,332
20,333
$ 265,486
30
Rock Prairie Management District No. 2
Schedule of Temporary Investments
May 31, 2023
Accrued
Interest Maturity Face Interest
Rate Date Amount Receivable
Debt Service Fund
Texas CLASS 5.24% Demand 303,145
Capital Pro je cts Fund
Texas CLASS 5.24% Demand 360
Totals $ 303,505 $ 0
31
Rock Prairie Management District No. 2
Analysis of Taxes Levied and Receivable
Year Ended May 31, 2023
Receivable, Beginning of Year
Additions and corrections to prior years' taxes
Adjusted receivable, beginning of year
Debt
Maintenance Service
Taxes Taxes
$ 1,494 $ 2,058
1
1,494 2,059
2022 Original Tax Levy 87,954 278,521
Additions and corrections (660) (2,091)
Adjusted tax levy 87,294 276,430
Total to be accounted for 88,788 278,489
Current year tax collections (84,119) (266,376)
Prior years (1,494) (2,059)
Receivable, end of year $ 3,175 $ 10,054
Receivable, by Year
2022 $ 3,175 $ 10,054
32
Rock Prairie Management District No. 2
Analysis of Taxes Levied and Receivable (Continued)
Year Ended May 31, 2023
2022 2021 2020 2019
Property Valuations
Land $ 28,331,916 $ 25,709,367 $ 14,785,710 $ 14,912,916
Improvements 45,817,587 17,711,363 8,162,825 -
Personal property 120,621 608,274 617,829 909,670
Exemptions (1,525,281) (637,793) (30,971) (1,162,600)
Total property valuations
$ 72,744,843 $ 43,391,211 $ 23,535,393 $ 14,659,986
Tax Rates per $100 Valuation
Debt service tax rates $ 0.3800 $ 0.3300 $ $ -
Maintenance tax rates* 0.1200 0.1700 0.5000 0.5000
Total tax rates per $100 valuation $ 0.5000 $ - 0.5000 $ 0.5000 $ 0.5000
Tax Levy $ 363,724 $ 216,955 $ 117,677 $ 73,300
Percent of Taxes Collected to
Taxes Levied**
96% 100% 100% 100%
*Maximum tax rate approved by voters: $1.00 on November 3, 2015
**Calculated as taxes collected for a tax year divided by taxes levied for that tax year.
33
Rock Prairie Management District No. 2
Schedule of Long-term Debt Service Requirements by Years
May 31, 2023
Road Series 2021
Due During Principal Interest Due
Fiscal Years Due September 1,
Ending May 31 September 1 March 1 Total
2024 $ 65,000 $ 61,964 $ 126,964
2025 65,000 61,038 126,038
2026 65,000 59,998 124,998
2027 65,000 58,860 123,860
2028 70,000 57,575 127,575
2029 70,000 56,140 126,140
2030 70,000 54,635 124,635
2031 70,000 53,060 123,060
2032 70,000 51,415 121,415
2033 75,000 49,638 124,638
2034 80,000 47,700 127,700
2035 80,000 45,650 125,650
2036 90,000 43,419 133,419
2037 75,000 41,253 116,253
2038 80,000 39,219 119,219
2039 80,000 37,118 117,118
2040 85,000 34,953 119,953
2041 90,000 32,656 122,656
2042 90,000 30,238 120,238
2043 95,000 27,694 122,694
2044 100,000 25,012 125,012
2045 100,000 22,262 122,262
2046 105,000 19,443 124,443
2047 110,000 16,350 126,350
2048 115,000 12,975 127,975
2049 120,000 9,450 129,450
2050 125,000 5,775 130,775
2051 130,000 1,950 131,950
Totals $ 2,435,000 $ 1,057,440 $ 3,492,440
34
Rock Prairie Management District No. 2
Schedule of Long-term Debt Service Requirements by Years (Continued)
May 31, 2023
Road Series 2022
Due During Principal Interest Due
Fiscal Years Due September 1,
Ending May 31 September 1 March 1 Total
2024 $ - $ 120,625 $ 120,625
2025 60,000 118,525 178,525
2026 65,000 114,150 179,150
2027 65,000 109,600 174,500
2028 65,000 105,050 170,350
2029 70,000 100,325 170,325
2030 75,000 96,187 171,187
2031 80,000 92,700 172,700
2032 85,000 88,988 173,388
2033 85,000 85,162 170,162
2034 85,000 81,338 166,338
2035 85,000 77,512 162,512
2036 85,000 73,688 158,588
2037 95,000 69,637 164,537
2038 95,000 65,363 160,363
2039 95,000 61,087 156,387
2040 95,000 56,813 151,813
2041 95,000 52,537 147,537
2042 100,000 48,150 148,150
2043 100,000 43,650 143,550
2044 100,000 39,150 139,150
2045 110,000 34,425 144,425
2046 110,000 29,475 139,475
2047 120,000 24,300 144,300
2048 120,000 18,900 138900
2049 120,000 13,500 133500
2050 120,000 8,100 128:100
2051 120,000 2,700 122;700
Totals $ 2,500,000 $ 1,831,637 $ 4,331.637
35
Rock Prairie Management District No. 2
Schedule of Long-term Debt Service Requirements by Years (Continued)
May 31, 2023
Annual Requirements For All Series
Due During Total Total Total
Fiscal Years Principal Interest Principal and
Ending May 31 Due Due Interest Due
2024 $ 65,000 $ 182,589 $ 247,589
2025 125,000 179,563 304,563
2026 130,000 174,148 304,148
2027 130,000 168,460 298,460
2028 135,000 162,625 297,625
2029 140,000 156,465 296,465
2030 145,000 150,822 295,822
2031 150,000 145,760 295,760
2032 155,000 140,403 295,403
2033 160,000 134,800 294,800
2034 165,000 129,038 294,038
2035 165,000 123,162 288,162
2036 ' 175,000 117,107 292,107
2037 170,000 110,890 280,890
2038 175,000 104,582 279,582
2039 175,000 98,205 273,205
2040 180,000 91,766 271,766
2041 185,000 85,193 270,193
2042 190,000 78,388 268,388
2043 195,000 71,344 266,344
2044 200,000 64,162 264,162
2045 210,000 56,687 266,687
2046 215,000 48,918 263,918
2047 230,000 40,650 270,650
2048 235,000 31,875 266,875
2049 240,000 22,950 262,950
2050 245,000 13,875 258,875
2051 250,000 4,650 254,650
Totals $ 4,935,000 $ 2,889,077 $ 7,824,077
36
Rock Prairie Management District No. 2
Changes in Long-term Bonded Debt
Year Ended May 31, 2023
Interest rates
Dates interest payable
Maturity dates
Bonds outstanding, beginning of current year
Bonds sold during current year
Retirements, principal
Bonds outstanding, end of current year
Interest paid during current year
Paying agent's name and address:
Series 2021 - The Bank of New York Mellon Trust Company, N.A., Dallas, Texas
Series 2022 - The Bank of New York Mellon Trust Company, N.A., Dallas, Texas
Bond authority:
Road
Series 2021
1.20% to
3.00%
September 1/
March 1
September 1,
2023/2050
Bond Issues
Road
Series 2022
4.50% to
7.00%
September 1/
March 1
September 1,
2024/2050
Amount authorized by voters
Amount issued
Remaining to be issued
$ 2,500,000
2,500,000
65,000
Totals
$ 2,500,000
2,500,000
65,000
$ 2,435,000 $ 2,500,000 $ 4,935,000
$ 62,792
Water, Sewer
and Drainage
Tax
Bonds
Road and
Paving Tax
Bonds
$ 45,905 $
108,697
Refunding
Bonds
$ 71,400,000 _ $ 106,600,000 $ 178,000,0)0
$ - $ 5,000,000 $
$ 71,400,000 $ 101,600,000 $ 178,000,0)0
Debt service fund cash and temporary investment balances as of May 31, 2023:
$ 349,7)5
Average annual debt service payment (principal and interest) for remaining term of all debt: $ 279,431
37
Rock Prairie Management District No. 2
Comparative Schedule of Revenues and Expenditures - General Fund
Four Years Ended May 31,
2023
General Fund
Amounts
2022 2021
2020
Revenues
Property taxes $ 85,613 $ 73,108 $ 116,829 $ 73,312
Penalty and interest - - 1,738 3,092
Investment income 66 54
Other income - 11,156
Total revenues 85,613 73,108 118,633 87,614
Expenditures
Service operations:
Professional fees 116,642 86,214 94,471 97,192
Contracted services 26,967 26,452 23,538 19,256
Repairs and maintenance 87,212 8,084 -
Other expenditures 14,332 11,489 13,843 9,001
Debt service, debt issuance costs 20,333 - -
Total expenditures 265,486 132,239 131,852 125,449
Deficiency of Revenues Over Expenditures
(179,873) (59,131) (13,219) (37,835)
Other Financing Sources (Uses)
Interfund transfer out (27,952)
Developer advances 173,000 50,033 67,490
Total other financing sources (uses) 173,000 (27,952) 50,033 67,490
Excess (Deficiency) of Revenues and Other
Financing Sources Over Expenditures and
Other Financing Uses (6,873) (87,083) 36,814 29,655
Fund Balance (Deficit), Beginning of Year (16,443) 70,640 33,826 4,171
Fund Balance (Deficit), Fnd of Year $ (23,316) $ (16,443) $ 70,640 $ 33,826
Total Active Retail Water Connections N/A N/A N/A N/A
Total Active Retail Wastewater Connections N/A NIA NIA NIA
Percent of Fund Total Revenues
2023 2022 2021 2020
100.0 % 100.0 % 98.5 % 83.7 %
- - 1.4 3.5
0.1 0.1
- - 12.7
100.0 100.0 100.0 100.0
136.2 117.9
31.5 36.2
101.9 11.1
16.7 15.7
23.8 -
310.1 180.9
(210.1) % (80.9) %
79.6
19.8
11.7
110.9
21.9
10.3
143.1
(43.1) %
38
Rock Prairie Management District No. 2
Schedule of Revenues and Expenditures — Debt Service Fund
Three Years Ended May 31, 2023
Amounts Percent of Fund Total Revenues
2023 2022 2021 2023 2022 2021
Debt Service Fund
Revenue
Property taxes $ 268,435 $ 141,133 $
Penalty and interest 3,660 1,941
Investment income 6,841 181
Total revenues
3
98.5 %
1.4
0.1
98.5 %
1.4
0.1
100.0
278,936 143,255 3 100.0 100.0 100.0
Expenditures
Current:
Professional fees 1,134 704 0.4 .0.5
Contracted services 14,460 11,651 5,2 8.1
Other expenditures 7.790 6,070 2.8 4.2
Debt Service:
Principal retirement 65,000 23:3
Interest and fees 109,447 56,561 39.2 39.5
Total expenditures 197,831 7.1,986 70.9 52.3 0.0
Excess of Revenues Over Expenditures
%
81,105 68.,269 3 29.1 % 47.7 % 100.0 %
Other Financing Sources
General obligation bonds issued 120425 63,182
Interfund transfers in - 27.952
Total other financing sources 120,625 27,952 63,182
Excess of Revenues and Transfers In
Over Expenditures and Transfers Out ' e 201,730,, 96,221 63,185
r ,
Fund Balance, Beginning of Year ' 1591406 63,185
Fund Balance, End ,of Year ,, $ 361,1.36 $ 159,406 63,185
39
Rock Prairie Management District No. 2
Board Members, Key Personnel and Consultants
Year Ended May 31, 2023
Complete District mailing address: Rock Prairie Management District No. 2
c/o Schwartz., Page & Harding, L.L.P.
1300 Post Oak Boulevard, Suite 2400
Houston, Texas 77056
District business telephone number: 713.623.4531
Submission date of the most recent District Registration Form
(TWC Sections 36.054 and 49.054): June 16, 2021
Limit on fees of office that a director may receive during a fiscal year:
$ 0
Term of
Office
Elected & Expense Title at
Board Members Expires Fees* Reimbursements Year-end
Appointed
06/19-
Uri Geva 06/23 $ 0 $ 0 President
Appointed
06/19- Vice
Hays Glover 06/23 0 0 President
Appointed Assistant
06/21- Vice
Logan Lee 06/25 0 0 President
Appointed
06/19-
Mark Lindemulder 06/23 0 0 Secretary
Appointed
06/21- Assistant
Samual Kerbel 06/25 0 0 Secretary
*The District is a management district, therefore, no directors' fees are paid.
40
Rock Prairie Management District No. 2
Board Members, Key Personnel and Consultants (Continued)
Year Ended May 31, 2023
Fees and
Expense
Consultants Date Hired Reimbursements Title
Tax Assessor/
B&A Municipal Tax Service, LLC 05/02/17 $ 17,350 Collector
Legislative
Brazos Central Appraisal District Action 4,027 Appraiser
EHRA Engineering 08/18/15 a45;1.39 Engineer
FORVIS, LLP 10/08/20 30,400r Auditor
Financial
Masterson Advisors LLC 05/12/22 53,856 Advisor
Municipal Accounts & Consulting, L.P.
Perdue, Brandon, Fielder, Collins & Mott, L.L.P.
Vx�¥.
Schwartz, Page & Harding, L.L.P.
Investment Officers
08/18/15 31,683 Bookkeeper
Delinquent
07/07/17 I.134 Tax Attorney
07/30/15 69,957 General Counsel
72,814 Bond Counsel
Mark M. Burtpn.and Ghia Lewis 08/18/15 N/A Bookkeepers
41
EXHIBIT "D"
Board of Directors
Rock Prairie Management District No. 2
Brazos County, Texas
As part of our audit of the financial statements of Rock Prairie Management District No. 2 (the District) as
of and for the year ended May 31, 2023, we wish to communicate the following to you.
Auditor's Responsibility Under Auditing Standards Generally Accepted in the United
States of America
An audit performed in accordance with auditing standards generally accepted in the United States of
America is designed to obtain reasonable, rather than absolute, assurance about the financial statements.
In performing auditing procedures, we establish scopes of audit tests in relation to the opinion unit being
audited. Our engagement does not include a detailed audit of every transaction. Our contract more
specifically describes our responsibilities.
These standards require communication of significant matters related to the financial statement audit that
are relevant to the responsibilities of those charged with governance in overseeing the financial reporting
process. Such matters are communicated in the remainder of this letter or have previously been
communicated during other phases of the audit. The standards do not require the auditor to design
procedures for the purpose of identifying other matters to be communicated with those charged with
governance.
An audit of the financial statements does not relieve management or those charged with governance of
their responsibilities. Our contract more specifically describes your responsibilities.
Qualitative Aspects of Significant Accounting Policies and Practices
Significant Accounting Policies
The District's significant accounting policies are described in Note 1 of the audited financial statements.
We call your attention to the following topics:
• The fund financial statements are reported using the current financial resources focus and the
modified accrual basis of accounting.
• The government -wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting.
Alternative Accounting Treatments
No matters are reportable.
Board of Directors
Rock Prairie Management District No. 2
Page 2
Management Judgments and Accounting Estimates
Accounting estimates are an integral part of financial statement preparation by management, based on its
judgments. The following area involves significant estimates for which we are prepared to discuss
management's estimation process and our procedures for testing the reasonableness of those estimates:
• Amounts due to developers
Significant Unusual Transactions
No matters are reportable.
Financial Statement Disclosures
The following areas involve particularly sensitive financial statement disclosures for which we are prepared
to discuss the issues involved and related judgments made in formulating those disclosures:
• Subsequent event
• Contingent liability for developer construction
Audit Adjustments
During the course of any audit, an auditor may propose adjustments to financial statement amounts.
Management evaluates our proposals and records those adjustments which, in its judgment, are required
to prevent the financial statements from being materially misstated. A misstatement is a difference between
the amount, classification, presentation or disclosure of a reported financial statement item and that which
is required for the item to be presented fairly in accordance with the applicable financial reporting
framework. Some adjustments could be proposed and not recorded because their aggregate effect is not
currently material; however, they involve areas in which adjustments in the future could be material,
individually or in the aggregate.
Areas in which adjustments were proposed include:
Proposed Audit Adjustments Recorded
• Capital assets
• Accrued liabilities
• Long-term liabilities
Proposed Audit Adjustments Not Recorded
No matters are reportable.
Auditor's Judgments About the Quality of the District's Accounting Principles
No matters are reportable.
Board of Directors
Rock Prairie Management District No. 2
Page 3
Other Material Communications
Listed below are other material communications between management and us related to the audit:
• Management representation letter
• Management letter
This letter is intended solely for the information and use of the Board of Directors, and is not intended to
be, and should not be, used by anyone other than these specified parties.
2023
EXHIBIT "E"
FORV/S
2700 Post Oak Boulevard, Suite 1500 / Houston, TX 77056
P 713.499.4600 / F 713.499.4699
forvis.com
September 14, 2023
Board of Directors
Rock Prairie Management District No. 2
Brazos County, Texas
We appreciate your selection of FORVIS, LLP as your service provider and are pleased to confirm the
arrangements of our engagement in this contract. Within the requirements of our professional standards
and any duties owed to the public, regulatory, or other authorities, our goal is to provide you an Unmatched
Client Experience.
In addition to the terms set forth in this contract, including the detailed Scope of Services, our engagement
is governed by the following, incorporated fully by this reference:
• Terms and Conditions Addendum
Summary Scope of Services
As described in the attached Scope of Services, our services will include the following:
Rock Prairie Management District No. 2
• Agreed -Upon Procedure Services relative to the District's surplus road bond funds
Engagement Fees
Our fees for the above services will be computed at our standard rates. Our pricing for this engagement
and our fee structure are based upon the expectation that our invoices will be paid promptly. Payment of
our invoices is due upon receipt.
Contract Agreement
Please sign and return this contract to indicate your acknowledgment of, and agreement with, the
arrangements for our services including our respective responsibilities.
FORVIS, LLP
Fo rW 15, L?
FORVIS is a trademark of FORVIS, LLP, registration of which is pending with the U S Patent and Trademark Office
��� PR�1XIP
Empow.ring Bualn.aa Globally
Rock Prairie Management District No. 2
September 14, 2023
Page 2
Acknowledged and agreed to as it relates to the entire contract, including the Scope of Services and
Terms anitions Aum, on behalf of Rock Prairie Management District No. 2.
BY
Bea-sident'
DATE
Rock Prairie Management District No. 2
September 14, 2023
Page 3
The following apply for all services:
Assistance
Responsibility
for Outcomes
Performance of
Nonattest
Services — SEC
and PCAOB
Scope of Services
Our timely completion of services depends on the assistance you, or the
responsible party(ies), provide us in accumulating information and responding to
our inquiries. Inaccuracies or delays in providing this information or the
responses may result in untimely filings or inability to meet other deadlines.
We may perform additional services for you that are not covered by this contract.
You agree to assume full responsibility for the substantive outcomes of the
contracted services and for any other services we may provide, including any
findings that may result.
You also acknowledge these services are adequate for your purposes, and you
will establish and monitor the performance of these services to ensure they meet
management's objectives. All decisions involving management responsibilities
related to these services will be made by you, and you accept full responsibility
for such decisions.
We understand that the Board is responsible and accountable for overseeing the
performance of these services and that the Board is qualified to conduct such
oversight.
Our performance of certain nonattest services may not be permitted under the
SEC and PCAOB independence rules, to which we are not currently subject.
Accordingly, if we perform services that are not permitted under those rules, you
would not be permitted to use our reports in a registration statement or other
document requiring compliance with those rules.
You agree to inform us promptly if you are considering any future public offering
of securities, use of our reports to comply with the Investment Advisers Act
custody rule, or other action that would necessitate our future compliance with
the independence rules of the SEC and PCAOB.
Rock Prairie Management District No. 2
September 14, 2023
Page 4
Scope of Services — Agreed -Upon Procedure Services
We will apply the agreed -upon procedures described below to statements submitted by the developers for
costs paid or incurred on behalf of Rock Prairie Management District No. 2 (the District). This engagement
is solely to assist you in determining amounts to be paid by the District to the developers from the proceeds
of the District's surplus road bond funds. The appropriateness of the procedures is solely the responsibility
of the parties to be specified in our report. Consequently, we make no representation regarding the
appropriateness of the procedures described below for the purpose for which our reports have been
requested or for any other purpose. Our proposed procedures are as follows:
• We will vouch copies of checks and invoices supporting amounts expended by the developers.
The computations of certain costs will be recalculated to determine that the amounts required to
be paid by the developers, in accordance with the rules of the Texas Commission on Environmental
Quality (the Commission), are not included in the amount to be reimbursed.
• We will recalculate the computations of interest requested by the developers, on a test basis, and
determine that they are in compliance with rules of the Commission. The interest rate to be utilized
is from the District's Series 2023 Road Bonds.
• We will compare the costs submitted by the developer to the cost summary approved by the District.
• Estimates of costs remaining to be incurred, if any, will be obtained through discussion with the
District's other consultants.
Because we have not been engaged to conduct an examination or review, we will not express an opinion
or conclusion, respectively. In addition, we have no obligation to perform any procedures beyond those
listed above.
Sherri Greenwood is responsible for supervising the engagement and authorizing the signing of the report
or reports.
We will submit reports listing the procedures performed and the results of those procedures. These reports
are solely for the use of the District and should not be used by those who did not agree to the procedures.
Our reports will contain a paragraph indicating that had we performed additional procedures, other matters
might have come to our attention that would have been reported to you.
The following apply for the agreed -upon procedure services described above:
Our
Responsibilities
District
Responsibilities
Our engagement to apply agreed -upon procedures will be performed in
accordance with attestation standards established by the American Institute of
Certified Public Accountants as required by Rule 30 TAC, Section 293.70 of the
Commission, "Audit of Payments to Developer."
To facilitate our engagement, the District is responsible for supplying us with all
necessary information and for allowing us access to personnel to assist in
performing our services. It should be understood that the District is responsible
for the accuracy and completeness of these items and for the subject matter.
At the conclusion of our engagement, the District will provide to us a letter
confirming the availability of this information, certain representations made during
the engagement, and acknowledging certain responsibilities outlined in this
contract.
Rock Prairie Management District No. 2
September 14, 2023
Page 5
GENERAL
1. Overview. This addendum describes FORVIS LLP's standard
terms and conditions ("Terms and Conditions") applicable to
Our provision of services to the Client ("You"). The Terms and
Conditions are a part of the contract between You and FORVIS,
LLP. For the purposes of the Terms and Conditions, any
reference to "Firm," "We," "Us," or "Our" is a reference to
FORVIS, LLP ("FORVIS"), and any reference to "You" or "Your"
is a reference to the party or parties that have engaged Us to
provide services and the party or parties ultimately responsible
for payment of Our fees and costs.
BILLING, PAYMENT, & TERMINATION
2. Billing and Payment Terms. We will bill You for Our
professional fees and costs as outlined in Our contract. Interest
will be charged on any unpaid balance after 30 days at the rate
of 10 percent per annum, or as allowed by law at the earliest
date thereafter, and highest applicable rate if less than 10
percent. All fees, charges, and other amounts payable to
FORVIS hereunder do not include any sales, use, excise,
value-added, or other applicable taxes, tariffs, or duties,
payment of which shall be Your sole responsibility, and do not
include any applicable taxes based on FORVIS' net income or
taxes arising from the employment or independent contractor
relationship between FORVIS and FORVIS' personnel.
We reserve the right to suspend or terminate Our work for this
engagement or any other engagement for nonpayment of fees.
If Our work is suspended or terminated, You agree that We will
not be responsible for Your failure to meet governmental and
other deadlines, for any penalties or interest that may be
assessed against You resulting from Your failure to meet such
deadlines, and for any other damages (including but not limited
to consequential, indirect, lost profits, or punitive damages)
incurred as a result of the suspension or termination of Our
services.
Our fees may increase if Our duties or responsibilities are
increased by rulemaking of any regulatory body or any
additional new accounting or auditing standards. Our
engagement fees do not include any time for post -engagement
consultation with Your personnel or third parties, consent
letters and related procedures for the use of Our reports in
offering documents, inquiries from regulators, or testimony or
deposition regarding any subpoena. Charges for such services
will be billed separately.
3. Billing Records. If these services are determined to be within
the scope and authority of Section 1861(v)(1)(I) of the Social
Security Act, We agree to make available to the Secretary of
Health and Human Services, or to the U.S. Comptroller
General, or any of their duly authorized representatives, such
of Our books, documents, and records that are necessary to
certify the nature and extent of Our services, until the expiration
of four (4) years after the furnishing of these services. This
contract allows access to contracts of a similar nature between
FORVIS, LLP Terms and Conditions Addendum
subcontractors and related organizations of the subcontractor,
and to their books, documents, and records.
4. Termination. Either party may terminate these services in
good faith at any time for any reason, including Your failure to
comply with the terms of Our contract or as We determine
professional standards require. Both parties must agree, in
writing, to any future modifications or extensions. If services are
terminated, You agree to pay FORVIS for time expended to
date. In addition, You will be billed costs and fees for services
from other professionals, if any, as well as an administrative fee
of five (5) percent to cover certain technology and
administrative costs associated with Our services. Unless
terminated sooner in accordance with its terms, this
engagement shall terminate upon the completion of FORVIS'
services hereunder.
DISPUTES & DISCLAIMERS
5. Mediation. Any dispute arising out of or related to this
engagement will, prior to resorting to litigation, be submitted for
nonbinding mediation upon written request by either party. Both
parties agree to try in good faith to settle the dispute in
mediation. The mediator will be selected by agreement of the
parties. The mediation proceeding shall be confidential. Each
party will bear its own costs in the mediation, but the fees and
expenses of the mediator will be shared equally.
6. Indemnification. Unless disallowed by law or applicable
professional standards, You agree to hold FORVIS harmless
from any and all claims which arise from knowing
misrepresentations to FORVIS, or the intentional withholding or
concealment of information from FORVIS by Your
management or any partner, principal, shareholder, officer,
director, member, employee, agent, or assign of Yours. To the
extent allowed by law, but without any requirement that You
establish or maintain a separate interest and sinking fund
therefore, You also agree to indemnify FORVIS for any claims
made against FORVIS by third parties, which arise from any
wrongful actions of Your management or any partner, principal,
shareholder, officer, director, member, employee, agent, or
assign of Yours. The provisions of this paragraph shall apply
regardless of the nature of the claim.
7. Statute of Limitations. [Deleted]
8. Limitation of Liability. You agree that FORVIS' liability, if any,
arising out of or related to this contract and the services
provided hereunder, shall be limited to the amount of the fees
paid by You for services rendered under this contract. This
limitation shall not apply to the extent it is finally, judicially
determined that the liability resulted from the gross negligence
or intentional or willful misconduct of FORVIS or if enforcement
of this provision is disallowed by applicable law or professional
standards.
9. Waiver of Certain Damages. Except with respect to claims of
gross negligence or intentional or willful misconduct, or a
breach of confidentiality, in no event shall FORVIS be liable to
Rock Prairie Management District No. 2
September 14, 2023„
Page 6
You or a third party for any indirect, special, consequential,
punitive, or exemplary damages, including but not limited to lost
profits, loss of revenue, interruption, loss of use, damage to
goodwill or reputation, regardless of whether You were advised
of the possibility of such damages, regardless of whether such
damages were reasonably foreseeable, and regardless of
whether such damages arise under a theory of contract, tort,
strict liability, or otherwise.
10. Choice of Law. You acknowledge and agree that any dispute
arising out of or related to this contract shall be governed by the
laws of the State of Texas, without regard to its conflict of laws
principles.
11. WAIVER OF JURY TRIAL. THE PARTIES HEREBY AGREE
NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE
OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY
JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT
SHALL NOW OR HEREAFTER EXIST WITH REGARD TO
THIS AGREEMENT, OR ANY CLAIM, COUNTERCLAIM, OR
OTHER ACTION ARISING IN CONNECTION THEREWITH.
THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN
KNOWINGLY AND VOLUNTARILY BY THE PARTIES, AND
IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH
INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT
TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE.
12. Severability. In the event that any term or provision of this
agreement shall be held to be invalid, void, or unenforceable,
then the remainder of this agreement shall not be affected, and
each such term and provision of this agreement shall be valid
and enforceable to the fullest extent permitted by law.
13. Assignment. You acknowledge and agree that the terms and
conditions of this contract shall be binding upon and inure to
the parties' successors and assigns, subject to applicable laws
and regulations.
14. Disclaimer of Legal or Investment Advice. Our services do
not constitute legal or investment advice.
RECORDS, WORKPAPERS, DELIVERABLES, &
PROPRIETARY INFORMATION
15. Maintenance of Records. All audit and/or agreed -upon
procedure reports generated by Us hereunder shall be Your
property upon finalization of same. We acknowledge that the
requirements of Chapter 552, Texas Government Code, as
amended (the "Public Information Act"), and Chapters 201-205,
Texas Local Government Code, as amended (the "Local
Government Records Act," and together with the Public
Information Act, the "Acts"), each apply to all public information,
as defined by the Public Information Act, and all local
government records, as defined by the Local Government
Records Act, related to the relationship between the You and
Us, and to any work carried out thereunder. We covenant that
We will comply with all requirements of the Acts, Your Record
Management Program, and all applicable rules, regulations,
policies, and retention schedules adopted thereunder.
You agree to assume full responsibility for maintaining Your
original data and records and that FORVIS has no
responsibility to maintain this information. You agree You will
1
1
not rely on FORVIS to provide hosting, electronic security, or
backup services, e.g., business continuity or disaster recovery
services, to You unless separately engaged to do so. You
understand that Your access to data, records, and information
from FORVIS' servers, i.e., FORVIS portals used to exchange
information, can be terminated at any time and You will not rely
on using this to host Your data and records.
6. FORVIS Workpapers. Our workpapers and documentation
(except final audit and/or agreed -upon procedure reports)
retained in any form of media for this engagement are the
property of FORVIS. We can be compelled to provide
information under legal process. In addition, We may be
requested by regulatory or enforcement bodies (including any
State Board) to make certain workpapers available to them
pursuant to authority granted by law or regulation. Unless We
are prohibited from doing so by law or regulation, FORVIS will
inform You of any such legal process or request. You agree We
have no legal responsibility to You in the event We determine
We are obligated to provide such documents or information.
We will cooperate with You in responding to any subpoena
where FORVIS is not a party and will provide You with a fee
estimate based on the estimated time required to comply. You
agree to compensate FORVIS for the time expended complying
with the subpoena or other legal process based on the
agreed -upon estimates.
7. Subpoenas or Other Legal Process. In the event FORVIS is
required to respond to any such subpoena, court order, or any
government regulatory inquiry or other legal process relating to
You or Your management for the production of documents
and/or testimony relative to information We obtained or
prepared incident to this or any other engagement in a matter
in which FORVIS is not a party, You shall compensate FORVIS
for all time We expend in connection with such response at
normal and customary hourly rates and to reimburse Us for all
out-of-pocket expenses incurred in regard to such response.
18. Use of Deliverables and Drafts. You agree You will not modify
any deliverables or drafts prepared by Us for distribution to third
parties. You also understand that We may on occasion send
You documents marked as draft and understand that those are
for Your review purpose only, should not be distributed in any
way, and should be destroyed as soon as possible. Draft
documents are subject to potentially material changes until
such time as they are marked final, and We shall not be liable
to You in Your use of such draft documents.
Our report on any financial statements must be associated only
with the financial statements that were the subject of Our
engagement. You may make copies of Our report, but only if
the entire financial statements (exactly as attached to Our
report, including related footnotes) and any supplementary
information, as appropriate, are reproduced and distributed
with Our report.
19. Proprietary Information. You acknowledge that proprietary
information, documents, materials, management techniques,
and other intellectual property are a material source of the
services We perform and were developed prior to Our
association with You. Any new forms, software, documents, or
intellectual property We develop during this engagement for
Rock Prairie Management District No. 2
September 14, 2023
Page 7
Your use (except final audit and/or agreed -upon procedure
reports) shall belong to Us, and You shall have the limited right
to use them solely within Your business. All reports, templates,
manuals, forms, checklists, questionnaires, letters,
agreements, and other documents which We make available to
You are confidential and proprietary to Us. This provision will
apply to all materials whether in digital, "hard copy" format, or
other medium.
REGULATORY
20. U.S. Securities and Exchange Commission ("SEC") and
other Regulatory Bodies. Where We are providing services
either for (a) an entity that is registered with the SEC, (b) an
affiliate of such registrant, or (c) an entity or affiliate that is
subject to rules, regulations, or standards beyond those of the
American Institute of Certified Public Accountants ("AICPA"),
any term of this contract that would be prohibited by or impair
Our independence under applicable law or regulation shall not
apply to the extent necessary only to avoid such prohibition or
impairment.
21. Offering Document. You may wish to include Our report(s) on
financial statements in an exempt offering document. You
agree that any report, including any auditor's report, or
reference to Our firm, will not be included in any such offering
document without notifying Us. Any agreement to perform work
in connection with an exempt offering document, including
providing agreement for the use of the auditor's report in the
exempt offering document, will be a separate engagement.
Any exempt offering document issued by You with which We
are not involved will clearly indicate that We are not involved by
including a disclosure such as, "FORVIS, LLP, our independent
auditor, has not been engaged to perform and has not
performed, since the date of its report included herein, any
procedures on the financial statements addressed in that
report. FORVIS, LLP also has not performed any procedures
relating to this offering document."
22. FORVIS Not a Municipal Advisor. FORVIS is not acting as
Your municipal advisor under Section 15B of the Securities
Exchange Act of 1934, as amended. As such, FORVIS is not
recommending any action to You and does not owe You a
fiduciary duty with respect to any information or
communications regarding municipal financial products or the
issuance of municipal securities. You should discuss such
matters with internal or external advisors and experts You
deem appropriate before acting on any such information or
material provided by FORVIS.
23. FORVIS Not a Fiduciary. In providing Our attest services, We
are required by law and our professional standards to maintain
our independence from You. We take this mandate very
seriously and thus guard against impermissible relationships
which may impair the very independence which You and the
users of Our report require. As such, You should not place upon
Us special confidence that in the performance of Our attest
services We will act solely in Your interest. Therefore, You
acknowledge and agree We are not in a fiduciary relationship
with You and We have no fiduciary responsibilities to You in the
performance of Our services described herein.
TECHNOLOGY
24. Electronic Sites. In the event You place Our report(s),
including any reports on Your financial statements, along with
other information, such as a report by management or those
charged with governance on operations, financial summaries
or highlights, financial ratios, etc., on an electronic site, You
agree to notify Us. You recognize that We have no
responsibility to review information contained in electronic
sites.
25. Electronic Signatures and Counterparts. This contract and
other documents to be delivered pursuant to this contract may
be executed in one or more counterparts, each of which will be
deemed to be an original copy and all of which, when taken
together, will be deemed to constitute one and the same
agreement or document, and will be effective when
counterparts have been signed by each of the parties and
delivered to the other parties. Each party agrees that the
electronic signatures, whether digital or encrypted, of the
parties included in this contract are intended to authenticate
this writing and to have the same force and effect as manual
signatures. Delivery of a copy of this contract or any other
document contemplated hereby, bearing an original manual or
electronic signature by facsimile transmission (including a
facsimile delivered via the internet), by electronic mail in
"portable document format" (".pdf') or similar format intended
to preserve the original graphic and pictorial appearance of a
document, or through the use of electronic signature software,
will have the same effect as physical delivery of the paper
document bearing an original signature.
26. Electronic Data Communication and Storage. In the interest
of facilitating Our services to You, We may send data over the
internet, temporarily store electronic data via computer
software applications hosted remotely on the Internet, or utilize
cloud -based storage. Your confidential electronic data may be
transmitted or stored using these methods. In using these data
communication and storage methods, We employ measures
designed to maintain data security. We use reasonable efforts
to keep such communications and electronic data secure in
accordance with Our obligations under applicable laws,
regulations, and professional standards.
You recognize and accept that We have no control over the
unauthorized interception or breach of any communications or
electronic data once it has been transmitted or if it has been
subject to unauthorized access while stored, notwithstanding
all reasonable security measures employed by Us. You
consent to Our use of these electronic devices and applications
during this engagement.
OTHER MATTERS
27. Cooperation. You agree to cooperate with FORVIS in the
performance of FORVIS' services to You, including the
provision to FORVIS of reasonable facilities and timely access
to Your data, information, and personnel. You shall be
responsible for the performance of Your employees and
agents.
28. Third -Party Service Providers. FORVIS may from time to
time utilize third -party service providers, including but not
Rock Prairie Management District No. 2
September 14, 2023,
Page 8
limited to domestic software processors or legal counsel, or
disclose confidential information about You to third -party
service providers in serving Your account. FORVIS maintains,
however, internal policies, procedures, and safeguards to
protect the confidentiality and security of Your information. In
addition, FORVIS will secure confidentiality agreements with all
service providers to maintain the confidentiality of Your
information. If We are unable to secure an appropriate
confidentiality agreement, You will be asked to consent prior to
FORVIS sharing Your confidential information with the
third -party service provider.
29. Independent Contractor. When providing services to You, We
will be functioning as an independent contractor; and in no
event will We or any of Our employees be an officer of You, nor
will Our relationship be that of joint venturers, partners,
employer and employee, principal and agent, or any similar
relationship giving rise to a fiduciary duty to You. Decisions
regarding management of Your business remain the
responsibility of Your personnel at all times. Neither You nor
FORVIS shall act or represent itself, directly or by implication,
as an agent of the other or in any manner assume or create any
obligation on behalf of, or in the name of, the other.
30. Use of FORVIS Name. Any time You intend to reference
FORVIS' firm name in any manner in any published materials,
other than in connection with Our audit report or other
deliverables, You agree to provide Us with draft materials for
review and approval before publishing or posting such
information.
31. Praxity. FORVIS is an independent accounting firm allowed to
use the name "Praxity" in relation to its practice. FORVIS is not
connected, however, by ownership with any other firm using the
name "Praxity." FORVIS will be solely responsible for all work
carried out on Your behalf. In deciding to engage FORVIS, You
acknowledge that We have not represented to You that any
other firm using the name "Praxity" will in any way be
responsible for Our work.
32. Entire Agreement. The contract, including this Terms and
Conditions Addendum and any other attachments or addenda,
encompasses the entire agreement between You and FORVIS
and supersedes all previous understandings and agreements
between the parties, whether oral or written. Any modification
to the terms of this contract must be made in writing and signed
by both You and FORVIS.
33. Force Majeure. We shall not be held responsible for any failure
to fulfill Our obligations if such failure was caused by
circumstances beyond Our control, including, without limitation,
fire or other casualty, act of God, act of terrorism, strike or labor
dispute, war or other violence, explosion, flood or other natural
catastrophe, epidemic or pandemic, or any law, order, or
requirement of any governmental agency or authority affecting
either party, including without limitation orders incident to any
such epidemic or pandemic, lockdown orders, stay-at-home
orders, and curfews.
34. Representations. (a) As required by Chapter2271,
Government Code, We represent that We, including any wholly
owned subsidiary, majority -owned subsidiary, parent company,
or affiliate of Us, do not boycott Israel and will not boycott Israel
through the term of this engagement. The term "boycott Israel"
in this paragraph has the meaning assigned to such term in
Section 808.001 of the Texas Government Code, as amended.
(b) Pursuant to Chapter 2252, Texas Government Code, We
represent and certify that, at the time of execution of this
contract, neither We, nor any wholly owned subsidiary,
majority -owned subsidiary, parent company, or affiliate of the
same is a company listed by the Texas Comptroller of Public
Accounts under Sections 2270.0201 or 2252.153 of the Texas
Government Code.
(c) To the extent the engagement to which this Terms and
Conditions Addendum is attached has a value of $100,000 or
more, pursuant to Section 2274.002, Texas Government Code
(as added by Senate Bill 13, 87th Texas Legislature, Regular
Session), as amended, We hereby verify that We, including a
wholly owned subsidiary, majority -owned subsidiary, parent
company, or affiliate of Us, does not boycott energy companies,
and will not boycott energy companies during the term of this
Agreement. As used in the foregoing verification, "boycott
energy companies" shall have the meaning assigned to the
term "boycott energy company" in Section 809.001, Texas
Government Code.
(d) To the extent the engagement to which this Terms and
Conditions Addendum is attached has a value of $100,000 or
more, pursuant to Section 2274.002, Texas Government Code
(as added by Senate Bill 19, 87th Texas Legislature, Regular
Session), as amended, We hereby verify that We, including a
wholly owned subsidiary, majority -owned subsidiary, parent
company or affiliate of Us: (i) do not have a practice, policy,
guidance or directive that discriminates against a firearm entity
or firearm trade association, and (ii) will not discriminate
against a firearm entity or firearm trade association during the
term of the Agreement. As used in the foregoing verifications,
"discriminate against a firearm entity or trade association" shall
have the meaning assigned to such term in
Section 2274.001(3), Texas Government Code.
CERTIFICATE OF INTERESTED PARTIES
FORM 1295
Complete Nos. 1- 4 and 6 if there are interested parties.
Complete Nos. 1, 2, 3, 5, and 6 if there are no interested parties.
1 Name of business entity filing form, and the city, state and country of the business entity's place
of business.
FORVIS, LLP
Houston, TX United States
2 Name of governmental entity or state agency that is a party to the contract for which the form is
being filed.
Rock Prairie Management District No. 2
3 Provide the identification number used by the governmental entity or state agency to track or identify
description of the services, goods, or other property to be provided under the contract.
09142023
Agreed -upon procedures engagement relative to the Districts surplus road bond funds
4
Cole, Abe
Graham, Frank
Snow, Matt
Watson, Tom
Name of Interested Party
5 Check only if there is NO Interested Party.
6 UNSWORN DECLARATION
My name is
My address is
1 of 1
OFFICE USE ONLY
CERTIFICATION OF FILING
Certificate Number:
2023-1069628
Date Filed:
09/08/2023
Date Acknowledged:
09/15/2023
the contract, and provide a
City, State, Country (place of business)
Springfield, MO United States
Charlotte, NC United States
Charlotte, NC United States
Dallas, TX United States
, and my date of birth is
(street) (city) (state)
I declare under penalty of perjury that the foregoing is true and correct.
Executed in County, State of , on the day of
Nature of interest
(check applicable)
Controlling intermediary
(zip code) (country)
, 20
(month) (year)
Signature of authorized agent of contracting business entity
(Declarant)
Forms provided by Texas Ethics Commission www.ethics.state.tx.us
Version V3.5.1.99923476
CERTIFICATE OF INTERESTED PARTIES
FORM 1295
a
Complete Nos. 1 - 4 and 6 if there are interested parties.
Complete Nos. 1, 2, 3, 5, and 6 if there are no interested parties.
1 Name of business entity filing form, and the city, state and country of the business entity's place
of business.
FORVIS, LLP
Houston, TX United States
2 Name of governmental entity or state agency that is a party to the contract for which the form is
being filed.
Rock Prairie Management District No. 2
1 of 1
OFFICE USE ONLY
CERTIFICATION OF FILING
Certificate Number:
2023-1069628
Date Filed:
09/08/2023
Date Acknowledged:
3 Provide the identification number used by the governmental entity or state agency to track or identify the contract, and provide a
description of the services, goods, or other property to be provided under the contract.
09142023
Agreed -upon procedures engagement relative to the District's surplus road bond funds
4
Cole, Abe
Graham, Frank
Snow, Matt
Watson, Tom
Name of Interested Party City, State, Country (place of business)
5 Check only if there is NO Interested Party.
6 UNSWORN DECLARATION
My name is BRIAN K. KRUEGER
My address is 2700 POST OAK BLVD., SUITE 1500
(street)
I declare under penalty of perjury that the foregoing is true and correct.
Executed in HARRIS
Forms provided by Texas Ethics Commission
Nature of interest
(check applicable)
Controlling Intermediary
Springfield, MO United States X
Charlotte, NC United States X
Charlotte, NC United States X
Dallas, TX United States X
HOUSTON
(city)
County, State of
TEXAS
and my date of birth is 04/1 1 /67
TX 77056 USA
(state) (zip code) (country)
_, on the 14th day ofSEPTEMBER20 23
(month) (year)
Signature of authorized agent of contracting business entity
(Declarant)
www.ethics.state.tx.us Version V3.5.1.99923476
EXHIBIT "F"
Honesty I Efficiency I Transparency I Accountability I Continuity
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE MONTH ENDING
JULY 31, 2023
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620 MAIN 713-900-2680
HOUSTON, TX 77040 TOLL FREE 1-888-598-7409 1
Total Outstanding Balance
CAD Changes / Uncollectible
Total Levy to be collected
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 7/31/23
RECEIVABLES SUMMARY
2022 Balance Forward Levy at 05/31/23 FYE
CAD Changes / Uncollectible
$13,228.60
$219.07
13,447.67
Outstanding Balance forward Prior Years (2021-2010) at 05/31/23 FYE $0.00
$0.00
0.00
13,447.67
Collection prior months (all years) ($3,564.60)
2022 Taxes Collected net NSF & KR Refunds during current month ($478.30)
Taxes Collected for Prior Years net NSF & KR Refunds $0.00
(4,042.90)
9,404.77
TAX ACCOUNT Beginning Balance — Tax Account 25,001.44
Income
Taxes Collected Current Year $863.97
Taxes Collected Prior Year $0.00
10% Rendition Penalty $0.00
Penalties & Interest $27.82
Collection Fee Paid $36.48
Overpayments $0.00
NSF or Reversals, Bank Charges $0.00
Other Fees & Court Costs, Etc $0.00
CCI Overpayment $0.00
Earned Interest $0.00
$928.27
Expenses
CK# 1221 Rock Prairie Management Distrct 2 - Operating
CK# 1222 Perdue Brandon Fielder Collins & Mott- Delq Atty Coll (7/2023)
CK# 1223 Jesus Ochoa, Jr. - Correction Roll 30 Refund (TY 2022)
CK# 1224 Ryan David Siefert - Correction Roll 30 Refund (TY 2022)
CK# 1225 Yolanda Patterson - Correction Roll 30 Refund (TY 2022)
CK# 1226 B&A Municipal Tax Service, LLC - Invoice MD2-193
CK# 1227 B&A Municipal Tax Service, LLC - Invoice MD2-194
25,929.71
$114.79
$36.48
$132.76
$176.09
$76.82
$824.90
$497.94
$1,859.78
Ending Balance —Tax Account 24,069.93
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
2
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 7/31/23
OUTSTANDING TAXES - YEAR TO DATE
BALANCE FORWARD
CAD
TAX @ SUPPLEMENTS &
YEAR 10/01/22 CORRECTIONS UNCOLLECTIBLE
2022 $366,474.63 ($2,531.30) $0.00
2021 $216,956.04 $0.00 $0.00
2020 $117,666.69 $0.00 $0.00
2019 $73,299.93 $0.00 $0.00
2018 $49,461.25 $0.00 $0.00
2017 $19,962.78 $0.00 $0.00
EXEMPTIONS & TAX RATES
TAX
YEAR
2022
2021
2020
2019
2018
2017
HOMESTEAD
EXEMPTION
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
DISTRICT VALUES
TAX LAND &
YEAR IMPROVEMENTS
2022
2021
2020
2019
2018
2017
74,235,602
43,412,055
22,941,412
14,898,546
9,881,920
4,069,643
OVER 65 /
DISABLED
0
0
0
0
0
0
AG NET
8,296
8,675
7,123
14,370
28,690
27,010
COLLECTIONS
$354,538.56
$216,956.04
$117,666.69
$73,299.93
$49,461.25
$19,962.78
DEBT SERVICE
M&ORATE RATE
0.12000
0.17000
0.50000
0.50000
0.50000
0.50000
PERSONAL
PROPERTY
120,621
608,274
617,829
909,670
309,850
0
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
EXEMPTIONS
1,575,865
637,793
33,002
1,162,600
328,210
104,096
OUTSTANDING
TAXES
$9,404.77
$0.00
$0.00
$0.00
$0.00
$0.00
$9,404.77
ROAD BOND DEBT
RATE
0.38000
0.33000
0.00000
0.00000
0.00000
0.00000
TOTAL VALUE
72,788,654
43,391,211
23,533,362
14,659,986
9,892,250
3,992,557
COLLECTIONS
PERCENTAGE
97.42%
100.00%
100.00%
100.00%
100.00%
100.00%
TOTAL RATE
0.50000
0.50000
0.50000
0.50000
0.50000
0.50000
SR KR
37 37
65 65
85 85
99 99
105 105
101 101
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
3
MUNICIPAL TAX SERVICE,LLC
BEGINNING BALANCE
INCOME
10% Rendition Penalty
Collection Fee
Earned Interest
Overpayments
Penalty & Interest
Rollback Tax Collected
Taxes Collected
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 7/31/23
PROFIT & LOSS
CURRENT MONTH
07/01/23 - 07/31/23
27,195.87
0.00
36.48
0.00
0.00
27.82
0.00
863.97
Total Income 928.27
FISCAL YEAR
6/01/23 - 7/31/23
46,650.66
0.00
36.48
0.00
0.00
482.70
0.00
4,428.57
4,947.75
EXPENSES_
Audit/Records 0.00 0.00
Bank Charges 0.00 0.00
Bond Premium 0.00 50.00
CAD Fees 0.00 _ _ 812.75
Certificate of Value 0.00 0.00
Copies 64.20 144.00
_Correction Roll Refunds 0.00 0.00
Correction Roll Rendition Refunds 0.00 0.00
Continuing Disclosure _ 0.00 _ 0.00
Court Affidavits _ 0.00 0.00
Delinquent Tax Attorney Assistance 15.00 30.00
Delinquent Tax Attorney Fee 0.00 0.00
Estimate of Value 0.00 0.00
Financial Advisor Assistance 0.00 0.00
Unclaimed Property Report 0.00 0.00
Legal Notices 0.00 0.00
Mailing & Handling 20.39 49.79
Meeting Travel & Mileage 290.04 520.08
NSF, Reversals, Stop Pay _ 0.00 0.00
Overpayment Refund _ 0.00 0.00
Public Hearing 0.00 0.00
Records Retention 1.64 7.26
Research 0.00 0.00
Roll Update & Processing 18.75 18.75
Senate Bill 2 to CAD (5 Yr History) 0.00 0.00
Supplies 104.01 104.01
Tax Assessor Collector Fee - AB 824.90 1,649.80
Transfer to Rollback Collected 0.00 0.00
Transfer to Maintenance & Operating 855.50 2,282.26
Transfer to Road Debt Service 0.00 20,000.00
2,194.43 25,668.70
ENDING BALANCE 25.929.71 25.929.71
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
4
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 7/31/23
2022
October $19,553.67
November $25,643.23
December $50,710.36
January $221,635.93
_.I
February
March
April
May
June
July
August
$10,057.86
$5,972.86
$10,976.90
$5,944.85
$3,564.60
Se tember
20221
$863.97
YEAR TO YEAR COMPARISON
% 2021 1 % VARIANCE I
5.34%
12.33%
26.17%
$0.00
$27,879.54
$47,161.03
86.66% $96,284.05
90.07% H $32,143.07
91.71% $1,284.59
94.73% $0.00
96.36% $9,110.62
97 34% $25.55
$863.97 97.42%
$1,447.70
$1,497.71
$0.00
MONTHLY COLLECTIONS
20211 2019 I
$0.00 $0.00
0.00% 5.34%
12.87% -0.54%
34.64% -8.47%
79.10% 7.56%
93.94% -3.87%
94.53% -2.82%
94.53% 0.20%
98.56% -2.20%
98.57% -1.23%
99.24%I-1.82%.
99.93%
99.93%
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
5
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MGT DIST NO. 2
FOR THE PERIOD ENDING 07/24/2023
PLEDGED SECURITIES REPORT
SECURITES PLEDGED AT 105% OVER FDIC INSURED $250,000
COLLATERAL SECURITY AGREEMENT ON FILE : YES
TAX BANK ACCOUNT HELD AT: WELLS FARGO / BANK OF NEW YORK MELLON
COLLATERAL SECURITY REQUIRED: NO
TYPE OF PLEDGED INVESTMENT:
IN COMPLIANCE W/ DISTRICT INVESTMENT POLICY: YES
B A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY SUITE 620
HOUSTON, TX 77040
MAIN 713-900-2680
FAX 713-900-2685
PS
STATE 0 F TEXAS §
COUNTY OF BRAZOS §
Avik Bonnerjee, being duly sworn, says that he is the Tax Assessor -Collector for the above
named District and the foregoing contains a true and correct report accounting for all taxes
collected for said District during the month therein stated.
Avik Bonnerjee, RTA
SWORN TO AND SUBSCRIBED BEFORE ME, this 1st day of August 2023.
e 11 REBECCA LYNN BREWER �f1
r-r. Notary ID 4125E819
My Commisson Expires )
March 1, 2024
Rebecca Lynn Brewer
Notary Public, State of Texas
Notary ID #1258819
My Commission Expires March 1, 2024
MUNICIPAL TAX SERVICE,LLC
TAX YEAR
2022
2021
2020
2019
2018
2017
M&ORATE
0.120000
0.170000
0.500000
0.500000
0.500000
0.500000
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 7/31/23
MAINTENANCE & OPERATING
LESS
PENALTIES & CORRECTION
PERCENTAGE COLLECTIONS INTEREST ROLLS LESS REVERSALS
24.00% $863.97 $0.00 $385.67 $0.00
34.00% $0.00 $0.00 $0.00 $0.00
100% $0.00 [ $0.00 $0.00 $0.00
100% $0.00 I $0.00 $0.00 $0.00I
100% $0.00 I $0.00 $0.00 $0.00I
100% $0.00 I $0.00 $0.00 $0.00 1_
DATE: 8.01.23
PAID CHECK# O�vc
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 505
HOUSTON, TX 77040
0.00
LESS
TRANSFER
$114.79
$0.00
$0.00
$0.00
$0.00
$0.00
SO.--
$0.00
$114.79
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
1
Jurisdiction: MD2
ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2 Page 1
Deposits Report 8/1/2023
For Dates 7/1/2023 thru 7/31/2023 12:03 PM
Bank
WELLS FARGO BANK
Deposit Date Deposit No Ck/Cash CC WACH Deposit Amount
7/7/2023 2023057 0 1 0 338.59
7/10/2023 2023058 3 0 0 0.00
7/11/2023 2023059 1 0 0 218.86
7/31/2023 2023060 0 0 1 370.82
Total Deposits 4 4 1 1 928.27
GL Account Summary 2022 Total Report
Taxes Paid 478.30 478.30
P&I Paid 27.82 27.82
Coll Fee Paid 36.48 36.48
Refund 385.67 385.67
928.27 928.27
FC
l aga
Report Prepared by B&A Municipal Tax
www.bamunitax.com
2022 TAX RECEIPT
ROCK PRAIRIE MANAGEMENT DISTRICT 2
AVIK BONNERJEE, TAX ASSESSOR/COLLECTOR
13333 NORTHWEST FREEWAY, SUITE 620
HOUSTON, TX 77040
Hours: MON - THU 8 - 4 FRI 8 - 12
Web: WWW.BAMUNITAX.COM
Owner Name and Address
OCHOA JESUS JR
807 DOUBLE MOUNTAIN RD
COLLEGE STATION, TX 77845
**RETURN SERVICE REQUESTED**
Appraised Values
Improvement HS
Land HS
100% Assessed Value
Taxing Unit
ROCK PRAIRIE MD NO 2
Phone: 713-900-2680
Fax: 713-900-2685
Property Information
95,948 MIDTOWN RESERVE PH 104, BLOCK 6, LOT 27, Undivided
Interest 50 0000000000%
25,000
120,948
Service Address
DOUBLE MOUNTAIN RD
IF YOU ARE 65 YEAF+S OF AGE OR OLDER OR ARE
DISABLED AND THE PROPERTY DESCRIBED IN THIS
DOCUMENT IS YOUR RESIDENCE HOMESTEAD, YOU
SHOULD CONTAC r THE APPRAISAL DISTRICT
REGARDING ANY ENTITLEMENT YOU MAY HAVE TO A
POSTPONEMENT IN THE PAYMENT OF THESE TAXES
Payment Due Before
Date Payment Paid By
01/02/2023 737.50 CORELOGIC
,/ 07/10/2023 0.00 OCHOA JESUS JR
Less Exemptions
CORRECTION ROLL - # 3�
TAX YEAR: 0.0,3 _
Rc -ko 1115aC
, Jur No Stmt Date Delinquent Date Receipt No
MD2 8/1/2023 2/1/2023 170
'Account No I 41380010460270
TAXES ARE DUE UPON RECEIPT. TAXES WILL BECOME
DELINQUENT AFTER January 31, 2023. PAYMENT MUST BE
POSTMARKED BEFORE DELINQUENT DATE TO AVOID
ADDITIONAL PENALTIES AND INTEREST.
Taxes that remain delinquent on July 01, 2023 will incur an additional
penalty to defray costs of collection per Section 33.07,33.08 and/or
33.11 of the Texas Property Tax Code.
Please contact the Appraisal District concerning any
corrections in appraised value, ownership, address changes
or any application for exemptions.
Brazos County Appraisal District
www.brazoscad.org 979-774-4100
Comparisons of the last six (6) tax years
Year Taxable Rate Taxes % Change
12022 0.500000 604 74 367 70%
2021 0.500000 129.30 N/A1
N/A N/A N/A N/A1
Ali N/A N/A N/A N/AI
i N/A N/A N/A N/AI
{ N/A N/A N/A N/AI
Appraised
120,948 120,948
25,860 25,860
N/A N/A
N/A N/A
N/A N/A
N/A N/A
% Change between 2022 and 2021
367.70% I 367 70% I 0.00% I 367.70%
Taxable Value Tax Rate Tax Levy
120,948 0.500000 per $100 604,74
Current Taxes Due 604.741
j
1
CAD
Taxes Paid Penalties Paid P & I Paid Atty Fee Paid
f 737.50 0.00 0.00 0.00
-132.76 0.00 0 00 0 00
Other
Paid Total Payment
0.00 737.50
0 00 0 00
c',Vc. I'P.- 3
2022 Paid in Full
Total Paid
737.50
2022 TAX RECEIPT
ROCK PRAIRIE MANAGEMENT DISTRICT 2
AVIK BONNERJEE, TAX ASSESSOR/COLLECTOR
13333 NORTHWEST FREEWAY, SUITE 620
HOUSTON, TX 77040
Hours: MON - THU 8 - 4 FRI 8 - 12
Web: WWW.BAMUNITAX.COM
Owner Name and Address
SIEFERT RYAN DAVID
829 MINERAL WELLS IN
COLLEGE STATION, TX 77845-2167
**RETURN SERVICE REQUESTED**
Phone: 713-900-2680
Fax: 713-900-2685
Appraised Values Property Information
Improvement HS 43,816 MIDTOWN RESERVE PH 105, BLOCK 5, LOT 14
Land HS 30,489
100% Assessed Value 74,305
Taxing Unit
ROCK PRAIRIE MD NO. 2
Service Address
MINERAL WELLS LN
Disabled Vet HS
IF YOU ARE 65 YEARS OF AGE OR OLDER OR ARE
DISABLED AND THE PROPERTY DESCRIBED IN THIS
DOCUMENT IS YOUR. RESIDENCE HOMESTEAD, YOU
SHOULD CONTACT THE APPRAISAL DISTRICT
REGARDING ANY EN'i ITLEMENT YOU MAY HAVE TO A
POSTPONEMENT IN THE PAYMENT OF THESE TAXES.
Payment
Date
03/29/2023
4 07/10/2023
Due Before
Payme/it Paid By
404 96 Ryan Siefert
0.00, SIEFERT RYAN DAVID
CORRECTION ROLL - #
TAX YEAR: a41.01_011
Less Exemptions
h c- f imik o 116.09
Jur No Stmt Date Delinquent Date Receipt No
MD2 8/1/2023 2/1 /2023 192
Account No 41380010550140
TAXES ARE D E UPON RECEIPT. TAXES WILL BECOME
DELINQUENT AFTER January 31, 2023. PAYMENT MUST BE
POSTMARKED BEFORE DELINQUENT DATE TO AVOID
ADDITIONAL PENALTIES AND INTEREST.
Taxes that remain delinquent on July 01, 2023 will incur an additional
penalty to defray costs of collection per Section 33.07,33.08 and/or
33.11 of the Texas Property Tax Code.
Please contact the Appraisal District concerning any
corrections in appraised value, ownership, address changes
or any application for exemptions.
Brazos County Appraisal District
www.brazoscad.org 979-774-4100
Al
35,219
Year
2022
2021
N/A
N/A
N/A
N/A
Comparisons of the last six (6) tax years
Appraised Taxable Rate Taxes
74,305 39,086 0.500000 195 43
26,952 26,952 0.500000 134 76
N/A N/A N/A N/A
N/A N/A N/A N/A
N/A N/A N/A N/A
N/A N/A N/A N/A
% Change between 2022 and 2021
175.69% I 45.02% I 0 00% 1 45 02%
Taxable Value Tax Rate Tax Levy
39,086 0.500000 per $100 195.43
CAD
Taxes Paid Penalties Paid
371.52 0.00
-176.09 0 00
% Change
45 02%
N/A
N/A
N/A
N/A
N/A
Current Taxes Duel 195.43
Other
P & I Paid Atty Fee Paid Paid Total Payment
33.44 0.00 0 00 404 96
0 00 0 00 0 00 0 00
.40
2022 Paid in Full
Total Paid
404.96
2022 TAX RECEIPT
ROCK PRAIRIE MANAGEMENT DISTRICT 2
AVIK BONNERJEE, TAX ASSESSOR/COLLECTOR
13333 NORTHWEST FREEWAY, SUITE 620
HOUSTON, TX 77040
Hours: MON - THU 8 - 4 FRI 8 - 12
Web: WWW.BAMUNITAX.COM
Owner Name and Address
PATTERSON YOLANDA
1242 AMISTAD LP
COLLEGE STATION, TX 77845-2722
**RETURN SERVICE REQUESTED**
Phone: 713-900-2680
Fax: 713-900-2685
Jur No Stmt Date Delinquent Date Receipt No
I MD2 8/1/2023 2/1/2023 322
'Account No 1 41380021230050
TAXES ARE DUE UPON RECEIPT. TAXES WILL BECOME
DELINQUENT AFTER January 31, 2023. PAYMENT MUST BE
POSTMARKED BEFORE DELINQUENT DATE TO AVOID
ADDITIONAL PENALTIES AND INTEREST.
Taxes that remain delinquent on July 01, 2023 will incur an additional
penalty to defray costs of collection per Section 33.07,33.08 and/or
33.11 of the Texas Property Tax Code.
Please contact the Appraisal District concerning any
corrections in appraised value, ownership, address changes
or any application for exemptions.
Brazos County Appraisal District
www.brazoscad.org 979-774-4100
Appraised Values Property Information Comparisons of the last six (6) tax years
Improvement HS 23,435 MIDTOWN RESERVE PH 201, BLOCK 23, LOT 5 Year Appraised Taxable Rate Taxes % Change
Land HS 30,489 2022 53,924 38,559 0.500000 192.80 49 11%
2021 25,860 25,860 0.500000 129 30 N/A
N/A N/A N/A N/A N/A N/A
Al N/A N/A N/A N/A N/A N/A
Service Address N/A N/A N/A N/A N/A N/A
N/A N/A N/A N/A N/A N/A
AMISTAD LOOP
100% Assessed Value 53,924
Taxing Unit Less Exemptions
ROCK PRAIRIE MD NO. 2
Disabled Vet HS 15,365
IF YOU ARE 65 YEARS OF AGE OR OLDER OR ARE
DISABLED AND THE PROPERTY DESCRIBED IN THIS
DOCUMENT IS YOUR RESIDENCE HOMESTEAD, YOU
SHOULD CONTACT THE APPRAISAL DISTRICT
REGARDING ANY ENTITLEMENT YOU MAY HAVE TO A
POSTPONEMENT IN THE PAYMENT OF THESE TAXES
% Change between 2022 and 2021
108.52% I 49.11 % I 0 00% I 49 11%
Taxable Value Tax Rate Tax Levy
38,559 0.500000 per$100 192.80
Current Taxes Due 192.80
Payment Due Before CAD Other
Date Payment Paid By _ Taxes Paid Penalties Paid P & I Paid Atty Fee Paid Paid Total Payment
01/02/2023 269 62 CORELOGIC 269.62 0 00 0 00 0 00 0.00 269.62
f 07/10/2023 0 00 PATTERSON YOLANDA 1 -76 82 0.00 0 00 0 00 0 00 0.00
CORRECTION ROLL - # 30
TAX YEAR: abaa
e-PctIA f(o
g.a(. G13 c h2 5
2022 Paid in Full
Total Paid 269.62
MUNICIPAL TAX SERVICE, LLC
Bill To
Rock Prairie Management District No. 2
13333 Northwest Freeway
Suite 620
Houston TX 77040
Invoice
Date Invoice #
8/1/2023 MD2-193
Description Unit Count Rate Amount
Avik Bonnerjee, RTA - Tax Assessor Collector Fee August 817.70 817.70
2023.
2022 Additional Unit Count Invoiced 2023 8 0.90 7.20
Thank you for your business.
Total $824.90
S.ol-,.3 cK. i axo
13333 Northwest Freeway, Suite 620 • Houston, TX 77040 • PH:713-900-2680 • www.bamunitax.com
MUNICIPAL TAX SERVICE, LLC
Bill To
Rock Prairie Management District No. 2
13333 Northwest Freeway
Suite 620
Houston TX 77040
Date
I8/1/2023
Invoice
Invoice #
MD2-194
Description Unit Count Rate Amount
Copies
Postage, Mailing, and Handling (1)
Roll Update & Processing - June Rolls 2023
Records Retention
Preparation of Delq. Atty. Electronic Files
Audit FYE May 31, 2023
Thank you for your business.
496
2.75
0.20
0.85
75.00
1.64
15.00
175.00
99.20
0.85
206.25
1.64
15.00
175.00
Total $497.94
T..0i d)c �aa�
13333 Northwest Freeway, Suite 620 111 Houston, TX 77040 • PH:713-900-2680 w www.bamunitax.com
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE MONTH ENDING
AUGUST 31, 2023
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
1
Total Outstanding Balance
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 8/31/23
RECEIVABLES SUMMARY
2022 Balance Forward Levy at 05/31/23 FYE
CAD Changes / Uncollectible
$13,228.60
$219.07
13,447.67
Outstanding Balance forward Prior Years (2021-2010) at 05/31/23 FYE $0.00
$0.00
0.00
13,447.67
CAD Changes / Uncollectible
Total Levy to be collected
Collection prior months (all years) ($4,042.90)
2022 Taxes Collected net NSF & KR Refunds during current month ($5,043.07)
Taxes Collected for Prior Years net NSF & KR Refunds $0.00
(9,085.97)
4,361.70
TAX ACCOUNT Beginning Balance — Tax Account 24,069.93
Income
Taxes Collected Current Year $5,043.07
Taxes Collected Prior Year $0.00
10% Rendition Penalty $0.00
Penalties & Interest $432.79
Collection Fee Paid $888.45
Overpayments $0.00
NSF or Reversals, Bank Charges $0.00
Other Fees & Court Costs, Etc $0.00
CCI Overpayment $0.00
Earned Interest $0.00
$6,364.31
Expenses
CK# 1196 Brazos CAD - 2023 4th Qtr Assessment Invoice (Reporting Only)
CK# 1228 Rock Prairie Management Distrct 2 - Operating
CK# 1229 Perdue Brandon Fielder Collins & Mott- Delq Atty Coll (8/2023)
CK# 1230 B&A Municipal Tax Service, LLC - Invoice MD2-196
CK# 1231 B&A Municipal Tax Service, LLC - Invoice MD2-197
30,434.24
$812.75
$1,210.34
$888.45
$824.90
$824.68
$4,561.12
Ending Balance —Tax Account 25,873.12
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
2
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 8/31/23
OUTSTANDING TAXES - YEAR TO DATE
BALANCE FORWARD
CAD
TAX @ SUPPLEMENTS &
YEAR 10/01/22 CORRECTIONS UNCOLLECTIBLE
2022 $366,474.63 ($2,531.30) $0.00
2021 $216,956.04 $0.00 $0.00
2020 $117,666.69 $0.00 $0.00
2019 $73,299.93 $0.00 $0.00
2018 $49,461.25 $0.00 $0.00
2017 $19,962.78 $0.00 $0.00
EXEMPTIONS & TAX RATES
TAX
YEAR
2022
2021
2020
2019
2018
2017
HOMESTEAD
EXEMPTION
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
DISTRICT VALUES
TAX LAND &
YEAR IMPROVEMENTS
2022 74,235,602
2021 43,412,055
2020 22,941,412
2019 14,898,546
2018 9,881,920
2017 4,069,643
OVER 65 /
DISABLED
0
0
0
0
0
0
AG NET
8,296
8,675
7,123
14,370
28,690
27,010
COLLECTIONS
$359,581.63
$216,956.04
$117,666.69
$73,299.93
$49,461.25
$19,962.78
DEBT SERVICE
M & O RATE RATE
0.12000 0.00000
0.17000 0.00000
0.50000 0.00000
0.50000 0.00000
0.50000 0.00000
0.50000 0.00000
PERSONAL
PROPERTY
120,621
608,274
617,829
909,670
309,850
0
EXEMPTIONS
1,575,865
637,793
33,002
1,162,600
328,210
104,096
OUTSTANDING
TAXES
$4,361.70
$0.00
$0.00
$0.00
$0.00
$0.00
$4,361.70
ROAD BOND DEBT
RATE
0.38000
0.33000
0.00000
0.00000
0.00000
0.00000
TOTAL VALUE
72,788,654
43,391,211
23,533,362
14,659,986
9,892,250
3,992,557
COLLECTIONS
PERCENTAGE
98.80%
100.00%
100.00%
100.00%
100.00%
100.00%
TOTAL RATE
0.50000
0.50000
0.50000
0.50000
0.50000
0.50000
SR KR
37 37
65 65
85 85
99 99
105 105
101 101
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
3
MUNICIPAL TAX SERVICE,LLC
BEGINNING BALANCE
INCOME
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 8/31/23
10% Rendition Penalty
PROFIT & LOSS
CURRENT MONTH
08/01/23 - 08/31/23
25,929.71
FISCAL YEAR
6/01/23 - 8/31/23
46,650.66
0.00 0.00
Collection Fee
Earned Interest
Overpayments
Penalty & Interest
888.45 924.93
0.00 0.00
0.00 0.00
432.79 915.49
Rollback Tax Collected - 0.00 0.00
Taxes Collected 5,043.07 9,471.64
Total Income 6,364.31 11,312.06
EXPENSES
Audit/Records
Bank Charges
Bond Premium
CAD Fees
Certificate of Value
Copies
Correction Roll Refunds
Correction Roll Rendition Refunds
Continuing Disclosure
Court Affidavits
Delinquent Tax Attorney Assistance
Delinquent Tax Attorney Fee
Estimate of Value
Financial Advisor Assistance
Unclaimed Property Report
Legal Notices
Mailing & Handling
Meeting Travel & Mileage
NSF, Reversals, Stop Pay
Overpayment Refund
Public Hearing
Records Retention
Research
Roll Update & Processing
Senate Bill 2 to CAD (5 Yr History)
Supplies
Tax Assessor Collector Fee - AB
Transfer to Rollback Collected
Transfer to Maintenance & Operating
Transfer to Road Debt Service
ENDING BALANCE
175.00
0.00
0.00
0.00
0.00
99.20
385.67
0.00
0.00
0.00
15.00
36.48
0.00
0.00
0.00
0.00
0.85
0.00
0.00
0.00
0.00
1.64
0.00
206.25
0.00
0.00
824.90
0.00
114.79
0.00
1,859.78
19,4;4.24
175.00
0.00
50.00
812.75
0.00
243.20
385.67
0.00
0.00
0.00
45.00
36.48
0.00
0.00
0.00
0.00
50.64
520.08
0.00
0.00
0.00
8.90
0.00
225.00
0.00
104.01
2,474.70
0.00
2,397.05
20, 000.00
27,528.48
30.434.24
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
4
MUNICIPAL TAX SERVICE,LLC.
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 8/31/23
October
November
December
January
February
March
2022
$19,553.67
$25,643.23
YEAR TO YEAR COMPARISON
2021
5 34% $0.00
12.33% $27,879.54
$50,710.36
$221,635.93
$10,057.86
$5,972.86
April 1 $10,976.90
May
June
July
August
September
20221
$5,043.07
$5,944.85
$3,564.60
$863.97
$5,043.07
26.17% $47,161.03
86.66% $96,284.05
90.07% $32,143.07
91.71% $1,284.59
94.73% $0.00
96.36%
97.34%
91.42%
98.80%
0.00%
12.87%
34.64%
79.10%
VARIANCE
5.34%
- 0.54%
- 8.47%
7.56
I
93.94%1 -3.87%
94.53% -2.82%
94.53% 0.20%
$9,110.62 98.56% -2.20%
$25.55 98.57%
$1,447.70 { 99.24%
$1,497.71 99.93%
$0.00 99.93%
MONTHLY COLLECTIONS
20211 2019
$0.00 $0.00
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 620
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
5
MUNICIPAL TAX SERVICE,LLC
ROCK PRAIRIE MGT DIST NO. 2
FOR THE PERIOD ENDING 08/23/2023
PLEDGED SECURITIES REPORT
SECURITES PLEDGED AT 105% OVER FDIC INSURED $250,000
COLLATERAL SECURITY AGREEMENT ON FILE : YES
TAX BANK ACCOUNT HELD AT: WELLS FARGO / BANK OF NEW YORK MELLON
COLLATERAL SECURITY REQUIRED: NO
TYPE OF PLEDGED INVESTMENT:
IN COMPLIANCE W/ DISTRICT INVESTMENT POLICY: YES
B A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY SUITE 620
HOUSTON, TX 77040
MAIN 713-900-2680
FAX 713-900-2685
PS
STATE OF TEXAS §
COUNTY OF BRAZOS §
Avik Bonnerjee, being duly sworn, says that he is the Tax Assessor -Collector for the above
named District and the foregoing contains a true and correct report accounting for all taxes
collected for said District during the month therein stated.
Avik Bonnerjee, RTA
SWORN TO AND SUBSCRIBED BEFORE ME, this 1st day of September 2023.
REBECCA LYNN BREWER t'
( -\11 Notary ID #1258819 p.�
1.;_ My Commission Expires
fJ� March 1 . 2024
6-v
Rebecca Lynn Brewer
Notary Public, State of Texas
Notary ID #1258819
My Commission Expires March 1, 2024
BRAZOS CENTRAL
APPRAISAL BISTRO
BRAZOS COUNTY, TEXAS
4051 PENDLETON DR
BRYAN, TX 77802-2465
•
Mr, Avik Bonnerjee
Registered Texas Assessor Collector
B&A Municipal Tax Service LLC
13333 Northwest Freeway, Suite 620
Houston, TX 77040
November 21, 2022
STATEMENT
Dana Horton
Chief Appraiser
Phone (979) 774-4100
Fax (979) 774-4196
ROCK PRAIRIE MGMT DIST #2
Below are the quarterly payment amounts and due dates for the 2023 Brazos Central
Appraisal District Operating Budget, as mandated by State Law,
Section 6,06 State Property Tax Code states:
"Unless the governing body of a unit and the chief appraiser agree to a different method of
payment, each taxing unit shall pay its allocation in four equal payments to be made at the end
of each calendar quarter, and the first payment shall be made before January 1 of the year in
which the budget takes effect. A payment is delinquent if not paid on the date it is due. A
delinquent payment incurs a penalty of 5 percent of the amount of the payment and accrues
interest at an annual rate of 10 percent, If the budget is amended, any change in the amount of
a unit's allocation is apportioned among the payments remaining- "
1st Quarter due by December 31, 2022
2nd Quarter clue by March 31, 2023
3rd Quarter due by June 30, 2023
4th Quarter due by September 30, 2023
Total Allocation
$812.75
$812.75
$812.75
$812.75
$3,251.00
v,
Pd_ q,p1,5 119140
�
�J
ROCK PRAIRIE MANAGEMENT DISTRICT 2
FOR THE PERIOD ENDING 8/31/23
MUNICIPAL TAX SERVICE,LLC
TAX YEAR M & O RATE PERCENTAGE
20221 0.120000 24.00%
2021 0.170000 34.00%
2020 0.500000 100%
2019 0.500000 100%
2018 0.500000 100%
2017 0.500000 100%
DATE: 9.01.23
PAIDCHECK#
MAINTENANCE & OPERATING
LESS
PENALTIES & CORRECTION
COLLECTIONS INTEREST ROLLS LESS REVERSALS
$5,043.07 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00
,I
TRANSFER
$1,210.34
$0.00
$0.00
$0.00
$0.00
$0.00
LESS $0.-
0.00 j $0.00
$1,210.34
B & A MUNICIPAL TAX SERVICE, LLC
13333 NORTHWEST FREEWAY, STE 505
HOUSTON, TX 77040
MAIN 713-900-2680
TOLL FREE 1-888-598-7409
1
Jurisdiction: MD2
ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2
Deposits Report
For Dates 8/1/2023 thru 8/31/2023
Page 1
8/31/2023
4:35 PM
Bank
WELLS FARGO BANK
GL Account Summary
Taxes Paid
P&I Paid
Coll Fee Paid
Deposit Date Deposit No Ck/Cash CC WACH Deposit Amount
8/14/2023 2023061 1 0 0 1,801.53
8/22/2023 2023062 0 0 1 1,835.78
8/22/2023 2023063 0 0 1 466.10
8/28/2023 2023064 1 0 0 357.00
8/30/2023 2023065 1 0 0 593.81
8/30/2023 2023066 1 0 0 1,310.09
Total Deposits 6 4 0 2 6,364 31
2022 Total Report
5,043.07 5,043.07
432.79 432.79
888.45 888.45
6,364.31 6,364.31
�a3F'cw w1
q.0(-? 5 Iaa9
Report Prepared by B&A Municipal Tax
www.bamunitax.com
MUNICIPAL TAX SERVICE, LLC
Bill To
Rock Prairie Management District No. 2
13333 Northwest Freeway
Suite 620
Houston TX 77040
Invoice
Date Invoice #
9/1/2023 MD2-196
Description Unit Count Rate Amount
Avik Bonnerjee, RTA - Tax Assessor Collector Fee 817.70 817.70
September 2023.
2022 Additional Unit Count Invoiced 2023 8 0.90 7.20
Thank you for your business.
Total $824.90
Pd 4. ot •P-3 CK-- la-3-D
13333 Northwest Freeway, Suite 620 ■ Houston, TX 77040 a PH:713-900-2680 a www.bamunitax.com
MUNICIPAL TAX SERVICE, LLC
Bill To
Rock Prairie Management District No. 2
13333 Northwest Freeway
Suite 620
Houston TX 77040
Invoice
Date Invoice #
9/1/2023 MD2-197
Description Unit Count Rate Amount
Copies
Records Retention
Preparation of Delq. Atty. Electronic Files
Meeting Travel Time/Mileage/Time (July 2023)
Estimate of Value as of August 1, 2023
Thank you for your business.
340
0.20
1.64
15.00
290.04
450.00
68.00
1.64
15.00
290.04
450.00
Total $824.68
'491 •a3 ag. 1a5/.
13333 Northwest Freeway, Suite 620 • Houston, TX 77040 • PH:713-900-2680 ■ www.bamunitax.com
EXHIBIT "G"
EHRA
ENGINEERING THE FUTURE
SINCE 1938
ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2
ENGINEERING REPORT
SEPTEMBER 2023
11. Engineering Report, including:
TBPE No. F-726
TBPLS No. 10092300
a. Authorize the design and/or advertisement of bids for construction of facilities within the District
and approval of related storm water plans, including:
1. Status of design of Preliminary Plan for Midtown City Center, Phase 406A & 406B
The Design Engineer is the design phase for construction documents.
2. Advertisement of Midtown City Center, Phase 111
The Project is being advertised for bids on September 9th and 16th with bids to be opened on
September 20, 2023.
Board Action: None.
b. Authorize the award of/or concurrence in award of contracts for the construction of facilities
within the District, authorizing acceptance of Texas Ethics Commissions ('TEC") Form 1295, and
approval of any storm water permits.
Board Action: None.
c. Status of construction of facilities to serve land within the District, including the approval of any
pay estimates and change orders and authorize acceptance of TEC Form 1295, including:
1. Midtown Subdivision, Phase 109 and 112 by Greens Prairie Investors, Ltd.
Contractor: Greens Prairie Investors, Ltd.
Contract Time: 150 Days
Pay Request No. Five is attached in the amount of $536,278.95.
Board Action: Approve Pay Request
EHRA Engineering 1 10011 Meadowglen Lane I Houston, Texas 77042 I t 713.784.4500 I 1713.784.4577
L_tZ1hG vISiLstr3 , OES+
Rock Prairie Management District No. 2
September 2023
Page 2
2. Midtown City Center, Phase 404A by Terra Bella Construction, LLC.
No additional Pay Requests have been received for processing. The project was approximately
85% completed as of the last Pay Estimate. There was a long lead time for street lights but
they are currently under construction.
Board Action: None
d. Acceptance of site and/or easement conveyances for facilities to be constructed for the District
and acceptance of facilities for operation and maintenance purposes.
Board Action: None
e. Status of acceptance by the City of College Station, Texas for maintenance of streets.
Board Action: None.
,„.......„
EHRA
‘....,
EHRA Engineering 1 10011 Meadowglen Lane 'Houston, Texas 77042 1 t 713.784.4500 1 f 713.784.4577
ENGINEERING THE FUTURE
SINCE 1936
INVITATION TO BID
Sealed bids, in duplicate will be received by College Station Downtown Residential, on behalf of Rock Prairie
Management District No. 2, at the office of Schultz Engineering at 911 Southwest Parkway East, College
Station, Texas 77840 until 2:00 p.m. Wednesday, September 27, 2023, at which time all bids will be publicly
opened and read for the construction of the project:
ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2
MIDTOWN CITY CENTER SUBDIVISION PHASE 111
PROJECT NO: 151-068-15 CPS
A Mandatory Pre -Bid Conference will be held on Wednesday, September 20, 2023, at 2:00 p.m. at the office
of Schultz Engineering at 911 Southwest Parkway East, College Station, Texas 77840.
Project scope shall include the installation of approximately 405 LF of 4"-8" PVC water line; 310 LF of 18"-
24" RCP and HDPE storm sewer; and 2,020 SY of 6" reinforced concrete pavement. The project is located
in College Station, Texas.
The above described construction will be performed in accordance with plans and specifications and any
addenda thereto which may be issued prior to the opening of bids. Plans, specifications and bid documents
may be viewed and downloaded free of charge or the option to purchase hard copies on the CivCastUSA
Website (www.CivCastUSA.com). Documents are also available for review at the office of the Engineer or
Houston area plan rooms.
Each Bid must be accompanied by a Certified or Cashier's Check, from a responsible bank in the State of
Texas, or a Bid Bond, issued by a surety legally authorized to do business in the State of Texas, equal to five
percent (5%) of the total bid amount. Make the Cashier's Check, Certified Check or Bid Bond payable to
the Owner.
The Owner reserves the right to reject any or all bids or to accept any bid deemed advantageous to it and
waive informalities in bidding. All bids received after the closing time above designated will be returned
unopened.
DATES ADVERTISED: 09/09/2023 & 09/16/2023
EHRA
FNpA Fnainaarino 1 1lf111 hbarinwolan I aria I Nnnctnn TPYaC 77f1d7 I t 717 7Ad dSflf I f 717 7Rd d577
ENGINEERING Mk FI.mjr
EHRA
TBPE No. F-726
Construction Progress Report and Pay Request No. Five
Date: September 6, 2023
Owner:
College Station Downtown Residential, LLC
1140 Midtown Drive
College Station, Texas 77845
Notice to Proceed Date:
Contract Days:
Percent Project Complete:
February 1, 2023
Project No.: 151-068-14 CPS
Project:
Rock Prairie Management District No. 2
Midtown Reserve Subdivision Phase 109 & 112
Contractor: Greens Prairie Investors, Ltd.
1140 Midtown Drive
College Station, TX 77845
Original Contract Amount:
Contract Quantity Adjustment No. 1:
Change Order No. 1:
Contract Quantity Adjustment No. 2:
150 Total Contract Amount To Date:
98%
Total Amount In Place To Date:
Less 10% Retainage:
Balance:
Less Previous Payments:
Total Amount Due this Report:
$2,192,937.50
($65,320.00)
812,000.00
$8,160.00
$2,147,777.50
$2,105,097.50
($210,509.75)
$1,894,587.75
($1,358,299.80)
$536,287.95
Enclosed is a copy of the Contractor's Affidavit of Bills Paid and a copy of the Contractor's Waiver and Lien Release Upon Partial Payment in
the amount of this Construction Progress Report No. Five
An EHRA Representative has conducted an on -site inspection to verify that all quantities have been installed and approved.
Recommended For Approval:
EDMINSTER, HINSHAW, RUSS & ASSOCIATES, INC. d/b/a EHRA
Jarou 4. Keel"
Jason Keeling
Senior Construction Project Manager
Please Remit Payment To:
Greens Prairie Investors, Ltd.
1140 Midtown Drive
College Station, TX 77845
Date: 09 / 06 / 2023
Rokne-4 kucrou
Robert D. Atkinson, Jr., P.E.
Practice Area Leader - District Services
CC:
09 / 07 / 2023
Date:
Rock Prairie Management District No. 2
c/o Schwartz, Page & Harding, LLP
Texas Commission on Environmental Quality - Reg 12
P:\151-068-14\CPS\Midtown Ph 109 & 112\Pay Request \Pay Request No. 05\Greens Prairie - Pay Regest No. 05
Document R.F. OOABR-DPPRF-U5WCC-3NWHY
Page 1 of