TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA 33614 TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING JANUARY 19, 2016

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT AGENDA JANUARY 19, 2016 at 10:00 a.m. Rizzetta and Company 3434 Colwell Avenue, Suite 200 Tampa, Florida 33614 District Board of Supervisors Grady Miars Chairman Walter Beeman Vice Chairman Bruce Kaschyk Assistant Secretary Kyle Thornton Assistant Secretary Ellen Johnson Assistant Secretary District Manager Joseph Roethke Rizzetta & Company, Inc. District Attorney Jennifer Kilinski Hopping Green & Sams, P.A. District Engineer Jamie Scarola Scarola Associates Engineering Design and Land Consultants, P.A. All Cellular phones and pagers must be turned off while in the meeting room. The District Agenda is comprised of five different sections: The meeting will begin promptly at 10:00 a.m. with the first section which is called Audience Comments. The Audience Comment portion of the agenda is where individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING. The second section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The third section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. The fourth section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors discussion, motion and vote. Agendas can be reviewed by contacting the Manager s office at (813) 933-5571 at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The final section is called Supervisor Requests. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs. Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (813) 933-5571, at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 1 (800) 955-8770, who can aid you in contacting the District Office. Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FL 33614 Board of Supervisors Triple Creek Community Development District January 11, 2016 AGENDA Dear Board Members: The regular meeting of the Board of Supervisors of the Triple Creek Community Development District will be held on Tuesday, January 19, 2016 at 10:00 a.m. at the office of Rizzetta and Company located at 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614. The following is the agenda for this meeting: 1. CALL TO ORDER/ROLL CALL 2. AUDIENCE COMMENTS 3. BUSINESS ADMINISTRATION A. Consideration of Minutes of the Board of Supervisors Regular held on December 15, 2015...Tab 1 B. Consideration of Operation and Maintenance Expenditures for November 2015...Tab 2 4. BUSINESS ITEMS A. Ratification of Series 2012 Construction Requisitions #123-125...Tab 3 B. Presentation of Monthly Inspections Reports...Tab 4 C. Consideration of Proposal for Annual Rotation...Tab 5 D. Presentation of Monthly Financial Summary...Tab 6 5. STAFF REPORTS A. District Counsel B. District Engineer C. District Manager 6. SUPERVISOR REQUESTS 7. ADJOURNMENT We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at (813) 933-5571. Very truly yours, Joseph Roethke Joseph Roethke District Manager

Tab 1

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT December 15, 2015 - Minutes of Meeting Page 1 MINUTES OF MEETING Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING The regular meeting of the Board of Supervisors of Triple Creek Community Development District was held on Tuesday, December 15, 2015 at 10:00 a.m. at the office of Genesis Group located at 3910 US Highway 301 North, Suite 140, Tampa, FL 33619. Present and constituting a quorum: Grady Miars Walter Beeman Kyle Thornton Bruce Kaschyk Ellen Johnson Board Supervisor, Chairman Board Supervisor, Vice Chairman Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary Also present were: Joseph Roethke Jennifer Kilinski Robert Nelson Lori Campagna FIRST ORDER OF BUSINESS District Manager; Rizzetta & Company, Inc. District Counsel; Hopping Green & Sams (via phone) Greenpointe Holdings, LLC HOA Manager, Evergreen Call to Order/Roll Call Mr. Roethke called the meeting to order and read the roll call. SECOND ORDER OF BUSINESS Audience Comments No Audience present. THIRD ORDER OF BUSINESS Consideration of Minutes of Board of Supervisors Regular Meeting held November 17, 2015 On a Motion by Mr. Kaschyk, seconded by Ms. Johnson, with all in favor, the Board approved the Minutes for the Board of Supervisors Regular Meeting held on November 17, 2015 for Triple Creek Community Development District.

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT December 15, 2015 - Minutes of Meeting Page 2 FOURTH ORDER OF BUSINESS Consideration of Operation and Maintenance Expenditures for October 2015 On a Motion by Mr. Kaschyk, seconded by Ms. Johnson, with all in favor, the Board ratified the Operation and Maintenance Expenditures for October 2015 in the amount of $71,097.88 for Belmont Community Development District. FIFTH ORDER OF BUSINESS Ratification of Series 2012 Construction Requisition #122 REQ # PAYEE AMOUNT 122 Suncoast Pool Service $4,995.00 On a Motion by Ms. Johnson, seconded by Mr. Beeman, with all in favor, the Board ratified the Series 2012 Construction Requisition #122 for Belmont Community Development District. SIXTH ORDER OF BUSINESS Presentation of Monthly Inspection Reports Mr. Roethke presented the monthly pond and landscape inspection reports to the Board. A discussion ensued regarding several maintenance items. Mr. Roethke will follow up with the pond maintenance company to have he damaged plants at the entry flood plain mitigation area replaced. (Mr. Miars arrived while the meeting was in progress at 10:06 a.m.) SEVENTH ORDER OF BUSINESS Consideration of Proposal from Sunrise Landcare for Palm Tree Replacement Mr. Roethke presented a proposal for palm tree replacement to the Board. Mr. Roethke will follow-up with the original installer to have those replaced if necessary. EIGHTH ORDER OF BUSINESS Staff Reports A. District Counsel No report. B. District Engineer Not present.

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT December 15, 2015 - Minutes of Meeting Page 3 C. District Manager Mr. Roethke stated that the next Board of Supervisors Regular Meeting will be held on Tuesday, January 19, 2016 at 10:00 a.m. at the new location which is at the offices of Rizzetta and Company at 3434 Colwell Avenue, Suite 200, Tampa, FL 33614. Mr. Roethke asked the Board Supervisors if they will be switching their email addresses to the web-hosted emails or keeping their current email addresses. The Board agreed to use the new CDD email addresses. NINTH ORDER OF BUSINESS Supervisor Requests There were no Supervisor requests. TENTH ORDER OF BUSINESS Adjournment On a Motion by Mr. Beeman, seconded by Mr. Kaschyk, with all in favor, the Board adjourned the meeting at 10:10 a.m. for the Triple Creek Community Development District. Secretary/Assistant Secretary Chair/Vice Chair

Tab 2

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA 33614 Operation and Maintenance Expenditures November 2015 For Board Approval Attached please find the check register listing the Operation and Maintenance expenditures paid from November 1, 2015 through November 30, 2015. This does not include expenditures previously approved by the Board. The total items being presented: $28,739.18 Approval of Expenditures: Chairperson Vice Chairperson Assistant Secretary

Triple Creek Community Development District Paid Operation & Maintenance Expenditures November 1, 2015 Through November 30, 2015 Vendor Name Check Number Invoice Number Invoice Description Invoice Amount Ballenger & Company, Inc. 001030 15534 SWFWMD Report & Pump Maint - $ 215.00 10/15 BOCC 001035 8992542002 11920 Streambed Dr - 10/15 $ 127.34 10/15 Doug Belden, Tax Collector 001036 A0776905722 - Ad Valorem Taxes 2015 $ 213.84 2015 Genesis Group 001031 55921 Professional Services thru 09/30/15 - $ 1,685.00 Landscape Genesis Group 001031 55922 Professional Services thru 09/30/15 - $ 2,218.75 Drainage Genesis Group 001038 55984 Professional Services thru 10/31/15 - $ 155.00 Drainage Hopping Green & Sams 001039 84759 General Legal Services 09/15 $ 4,817.62 Hopping Green & Sams 001039 84760 2014 Boundary Amendement $ 22.50 NewAgeTutors LLC dba 001043 1001-15-5 Website Fees 10/15 $ 60.00 VGlobalTech NVirotect Pest Control, Inc. 001032 88893 Pest Control Acct #9501-10/15 $ 60.00 Rizzetta & Company, Inc. 001033 2459 District Management Fees 11/15 $ 3,188.33 Rizzetta Amenity Services, Inc. 001040 1844 Amenity Services 11/15 $ 2,014.59 Suncoast Pool Service, Inc 001037 2728 Pool Services 10/15 $ 850.00 Sunrise Landcare, Inc. 001034 96222 Seasonal Color Change $ 2,100.00 Sunrise Landcare, Inc. 001042 96285 Turf Fertilizer & Pest Control 10/15 $ 5,240.00 Tampa Electric 001044 Electric Summary Electric Summary 11/15 $ 5,553.09 11/15 Times Publishing Company 001041 214746-110815 Legal Advertising 11/08/15 $ 59.44 Verizon Florida LLC 001045 15131406877907 0106 11/15 813-671-5900 11/15 $ 158.68 Report Total $ 28,739.18

Tab 3

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT SERIES 2012 CONSTRUCTION REQUISITION RECAP FOR BOARD RATIFICATION JANUARY 19, 2016 REQ # PAYEE AMOUNT 123 Genesis $77.50 124 Hopping Green & Sams $305.50 125 Scarola Associates $236.73 Page 1

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA 33614 December 23, 2015 Thomas J. Radicioni THE BANK OF NEW YORK TRUST COMPANY, N.A. 10161 Centurion Parkway Jacksonville, FL 32256 RE: Special Assessment Bonds, Series 2012 Requisitions for Payment Dear Thomas: Below please find a table detailing the enclosed requisition(s) ready for payment from the Districts Acquisition/Construction Trust Account. PLEASE EXPEDITE PAYMENT TO THE PAYEE(S) VIA USPS REQUISITION NO. PAYEE AMOUNT 123 Genesis $77.50 124 Hopping Green & Sams $305.50 125 Scarola Associates $236.73 If you have any questions regarding this request, please do not hesitate to call me at (813) 933-5571. Thank you for your prompt attention to this matter. Sincerely, TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT Joe Roethke District Manager

Invoice Submitted By: INVOICE # 80666 SCAROLA ASSOCIATES Engineering Design & Land Consultants, PA 6505 Surfside Blvd Apollo Beach, Fl 33572 Invoice Submitted To: Joe Roethke, District Manager Triple Creek CDD Construction 3434 Colwell Ave, Suite 200 Tampa, Fl 33614 Invoice Date: December 2, 2015 Professional Services Info: Project Name: Capital Improvements Billing Period: March-November 2015 Reference: Work Performed Date Time Fee Engineering Consulting 3/23/15 0.35 $70.00 Process CRs 118-120 Project Coordinator 3/23/15 0.25 $25.00 Transmitted CRs 2012-118 through 120 to Grady Miars via UPS Ground. Engineering Consulting 4/9/15 0.25 $50.00 At request of District Manager, provide copy of 2012 Supplemental CIP Project Coordinator 8/10/15 0.17 $16.67 Transmitted CR 2012-121 to Grady Miars via UPS Ground. Project Coordinator 8/17/15 0.33 $33.33 Researched Phase 1 construction plans in Hillsborough County records. Project Coordinator 11/13/15 0.17 $16.67 Transmitted CR 2012-122 to Grady Miars via UPS Ground. Project Expenses: Expense Item Description Expense Cost Postage UPS CRs 118-120 $8.36 Postage UPS CR 2012-121 $8.35 Postage UPS CR 2012-122 $8.35 Project Total $236.73

Total Cost $236.73 Amount Due $236.73 Please make checks payable: Scarola Associates Engineering Design and Land Consultants, PA. Should you have any questions, please do not hesitate to call 813-641-3909. Sincerely, James A. Scarola, PE, AICP

Tab 4

BLANK

Routine Scheduled - Monthly 1/8/2016 Sabrina Kilgore, Account Representative

1/8/2016 5A Site looks good Pond 5A looks excellent the re-growth of Torpedograss around the perimeter is finally slowing. 5B Pond #4 looks good as well. Site looks good

1/8/2016 6, 13 Site looks good The perimeter treatment around pond 5C (above and top right) looks great! Pond 16A (bottom right) is looking good as well. Ditch 14 Requires attention Moderate overgrowth of invasive Cogon Grass was found on the west bank of Ditch #14. This growth was treated on 1/6/16, visible improvement should be evident in 14-21 days.

1/8/2016 16B Site looks good Pond 16B looks good the handful of Cattails visible in the photos above have been treating and are currently going inactive from the root, upward. 38A, 4D Site looks good Pond 38A (above) and 4D look great!

1/8/2016 4C, 4B Normal growth observed It is clear that the Cattails in pond 4C (above and top right) had established a strong seed source as Cattails continue to re-grow in this area. However Technicians have done an excellent job addressing the perimeter Primrose along the south bank. Pond 4B (bottom right) continually improves no floating weeds were observed and Cattails have been reduced by 2A Site looks good Pond 2A look great!

1/8/2016 The ponds of Triple Creek CDD have never looked better! The due diligence of Technicians and recent weather conditions have alleviated a lot of the re-occurring symptoms noted in some ares of the community. As the winter season progresses average temperatures will slowly decrease, which, in turn, decreases average water temperatures. This change in temperature will cause organic production to decrease, slowing the metabolic process of most plant species and in some cases activating a "dormant" phase for others. Algal production is also decreased by cooler weather as its optimal growth temperature is around 27.5ºC. These behaviors can be expected over the next 1.5-2 months. That being said, currently, seven out of the ten sites featured during this months inspection looked absolutely marvelous. Ponds 5A, 5B, 5C, 16B, 38C, 4D and 2a are all in tip top shape. Technicians have consistently treated the perimeters of ponds 5A and 5C for Torpedograss and have finally been able to out treat growth rates with the help of the winter season. These sites will continue to be closely monitored and aggressively treated to keep control through the winter and ideally maintain it through spring and summer. Ditch #14 was the only site that had shoreline grass over growth. The west bank along the south section of this area had, what appeared to be Cogon grass extending 4-5 feet out into open water. Just as the canal section of the site has been treated for shoreline weeds applications will expand to the southern section as well. Lastly adjacent ponds 4C and 4B continue to show improvement. During last month's inspection pond 4C (see page 5) and a handful of juvenile Primrose that lined the south main roadside bank. Technicians swiftly addressed the issue and no active Primrose remain. The minor Cattail re-growth in this site will continue to be treated as it arises until the existing seed source is weened down. Similarly the Cattails in pond 4B are continually being pushed back. This area is extremely hard to access as it is surrounded by mature Salt Bush, Technicians will continue to do their best to safely contact the remaining growth. --Ditch #14 was treated for grasses on 1/6/16 and will continue to be monitored for full results. Standard results taking anywhere between 14-21 days. --Ponds 4B and 4C were also treated on 1/6/16 for Cattails. Results should be clear in 10-14 days. --All remaining ponds throughout the community will continue to be monitored and treated for all invasive vegetation and algae on an as needed basis.

Triple Creek CDD Waterway Inspection Report 1/8/2016 Aquatic Systems, Inc. 1-800-432-4302

Tab 5

Tab 6

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT FINANCIAL STATUS AND SUMMARY REPORT November 30, 2015 Rizzetta & Company, Inc. 3434 Colwell Ave., Suite 200 Tampa, FL 33614 (813) 933-5571 District Manager - Joe Roethke

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT FINANCIAL SUMMARY Operations & Maintenance November 30, 2015 O A & S General Fund (O&M) - Cumulative Revenue Received (Amount budgeted - $141,180 Tax roll - $96,534 Off roll - $329,117 Developer Contributions) $450,000 $300,000 $150,000 $- Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Tax Roll $2,283 $28,440 $88,115 Off Roll $- $6,193 $48,267 Developer Contributions $- $- $- Total $2,283 $34,633 $136,382 $75,000 General Fund (O&M) - Expenses - Budget vs. Actual - Budget $566,831 $60,000 $45,000 $30,000 $15,000 $- Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Actual $65,280 $60,596 Budget $69,950 $47,142 $44,364 $44,364 $44,364 $47,964 $44,364 $44,864 $44,364 $46,364 $44,364 $44,364 Actual Budget Select Account Balances as of November 30, 2015 Cash & Investments $ 76,586 Investment - Reserve $ 35,037 Assessments Receivable - Tax Roll $ 115,022 Assessments Receivable - Off Roll $ 90,341 Accounts Receivable - Developer Funding $ 106,966 Accounts Recievable - Other $ 3,478 Accounts Payable - Unpaid Invoices $ 45,366

TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT FINANCIAL SUMMARY General Fund November 30, 2015 Total Month YTD Annual Projected Variance Variance Adopted Year End Variance Description Budget Actual $ % Budget Actual $ % Budget End of Year $ % ADMINISTRATIVE: Supervisors Fees 1,000 1,000-0% 2,000 2,000-0% 12,000 (10,000.00) 12,000 100% General & Administrative 4,678 3,599 1,079 23% 20,988 21,246 (258) -1% 73,363 (52,116.67) 74,266 101% District Counsel 2,917 2,873 44 2% 5,833 5,055 778 13% 35,000 (29,945.08) 30,329 87% Total Administrative 8,594 7,471 1,123 13% 28,821 28,301 520 2% 120,363 (92,061.75) 116,595 97% - - FIELD OPERATIONS: - - Security Operations 750-750 100% 1,500 2,247 (747) -50% 9,000 (6,753.00) 13,482 150% Electric Utility Services 7,125 5,553 1,572 22% 14,250 11,221 3,029 21% 85,500 (74,279.47) 67,323 79% Gas Utiltiy Services - - - - - - - Garbage/Solid Waste Control Services 42 214 (172) -413% 83 214 (131) -157% 500 (286.16) 1,283 257% Water-Sewer Combination Services 208 120 88 42% 417 247 169 41% 2,500 (2,252.66) 1,484 59% Stormwater Control 2,782 2,365 417 15% 5,563 4,730 833 15% 33,380 (28,650.00) 28,380 85% Other Physical Environment 22,394 39,507 (17,113) -76% 55,962 70,082 (14,120) -25% 252,123 (182,041.18) 315,735 125% Road & Street Facilities 417 3,506 0% 833 6,973 (6,140) -737% 5,000 1,973.25 41,839 Parks & Recreation 4,346 1,861 2,485 57% 8,691 1,861 6,830 79% 52,646 (50,785.00) 11,273 21% Contingency 485-485 100% 970-970 100% 5,819 (5,819.00) - 0% - - - - - - - - - - - - Total Field Operations 38,547 53,125 (11,489) -30% 88,270 97,575 (9,305) -11% 446,468 (348,893.22) 493,533 111% - - Total Administrative and Field Operations 47,142 60,596 (10,366) -22% 117,091 125,876 (8,785) -8% 566,831 (440,954.97) 610,129 108% NOTES: (1) Other Physical Environment line item is over budget due to increased landscape costs

Bond Series Series 2012 Issue Date June 28, 2012 Maturity Date May 1, 2034 Original issue amount $ 3,180,000 Interest rate 5.625/6.125/6.75% Assessments Receivable as of November 30, 2015 $ 210,111 Outstanding Principal Balance as of November 30, 2015 $ 3,100,000 Scheduled debt service payments: Type Status November 1, 2015 Interest Paid $ 100,934 November 1, 2015 Principal Paid $ 40,000 May 1, 2016 Interest $ 99,809 November 1, 2016 Principal $ 45,000 November 1, 2016 Interest $ 99,809 Account balances: Interest Account $ 58 Reserve Account $ 123,381 Prepayment Account $ - Revenue Account $ 10,202 Sinking Fund $ - Debt Service Reserve requirement: $ 123,372 Does the district have funds to make the next scheduled debt service payment? Are the reserve funds adequate to meet the requirement per the trust indenture? Fiscal Year 2015-2016 Collections TRIPLE CREEK COMMUNITY DEVELOPMENT DISTRICT FINANCIAL SUMMARY Debt Service November 30, 2015 No Yes Debt Service Funds - Funds Received (Amount budgeted $246,745 Tax roll ) $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $- Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Tax Roll $- $36,634 $134,216 Aggregate $- $36,634 $134,216 A S The May 1, 2016 and November 1, 2016 debt service payments will be paid from 2015-2016 assessments. Interest Account : Used to accumulate funds for the next scheduled interest payment. Funds are transferred from the Revenue Account immediately prior to the scheduled payment. Reserve Account : Funds maintained per the Trust Indenture for the payment of principal and interest when amounts on deposit are insufficient. The required amount decreases as the outstanding principal amount decreases. Prepayment Account : Used to accumulate payments toward the early retirement of bonds. Amounts are then used to prepay the bonds in $5,000 increments as of the next debt service payment date. Revenue Account: Used to accumulate the receipt of debt service assessments prior to funds being transferred to the Interest or Sinking Fund account immediately prior to debt service payment. Sinking Fund : Used to accumulate funds for the next scheduled principal payment. Funds are transferred from the Revenue Account immediately prior to the scheduled payment.