Grove Resort CDD
202	Financial

, 202

PFM Group Consulting, LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
(407) 723-5900

Statement of Financial Position As of 7/31/2025

General Fund	Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

	Assets		
Current Assets
General Checking Account	

$394,314.17								

$394,314.17	
Assessments Receivable	206,908.20								206,908.20	
Prepaid Expenses	1,728.49								1,728.49	
Assessment Receivable - Off Roll	514.88								514.88	
Assessments Receivable			$87,303.58						87,303.58	
Debt Service Reserve - Series 2017A			937,487.55						937,487.55	
Debt Service Reserve - Series 2022A			157,837.13						157,837.13	
Revenue - Series 2017A			776,105.52						776,105.52	
Interest - Series 2017A			173.01						173.01	
Interest - Series 2022A			5.43						5.43	
Prepayment A1 Bond			14,385.64						14,385.64	
Revenue - Series 2022A			58,389.01						58,389.01	
Acquisition/Construction - Series 2022A					$7,158.75				7,158.75	
Total Current Assets	$603,465.74		$2,031,686.87		$7,158.75		$0.00		$2,642,311.36	

Investments										
Amount Available in Debt Service Funds							$1,944,383.29		$1,944,383.29	
Amount To Be Provided							12,260,616.71		12,260,616.71	
Total Investments	$0.00		$0.00		$0.00		$14,205,000.00		$14,205,000.00	
Total Assets	$603,465.74		$2,031,686.87		$7,158.75		$14,205,000.00		$16,847,311.36	

Liabilities and Net Assets

Current Liabilities
Deferred Revenue	$206,908.20								$206,908.20	
Deferred Revenue - Off Roll	514.88								514.88	
Deferred Revenue			$87,303.58						87,303.58	
Total Current Liabilities	$207,423.08		$87,303.58		$0.00		$0.00		$294,726.66	

Long Term Liabilities
Revenue Bonds Payable - Long-Term							$14,205,000.00		$14,205,000.00	
Total Long Term Liabilities	$0.00		$0.00		$0.00		$14,205,000.00		$14,205,000.00	

Total Liabilities	$207,423.08	$87,303.58	$0.00	$14,205,000.00	$14,499,726.66

Net Assets
Net Assets, Unrestricted	$10,082.02								$10,082.02	
Current Year Net Assets, Unrestricted	(198,872.18)								(198,872.18)	
Net Assets - General Government	196,478.22								196,478.22	
Current Year Net Assets - General Government	298,830.60								298,830.60	
Fund Balance Nonspendable Prepaid	89,524.00								89,524.00	
Net Assets, Unrestricted			$1,986,696.87						1,986,696.87	
Current Year Net Assets, Unrestricted			(42,313.58)						(42,313.58)	
Net Assets, Unrestricted					$1,728.62				1,728.62	
Current Year Net Assets, Unrestricted					5,430.13				5,430.13	
Total Net Assets	$396,042.66		$1,944,383.29		$7,158.75		$0.00		$2,347,584.70	
										
Total Liabilities and Net Assets	$603,465.74		$2,031,686.87		$7,158.75		$14,205,000.00		$16,847,311.36	

Statement of Activities As of 7/31/2025

Debt Service	Capital Projects	General Long	
Fund	Fund	Term Debt	

General Fund	Total

 Revenues

On-Roll Assessments	$743,670.94								$743,670.94	
Off-Roll Assessments	328.91								328.91	
Other Revenue	63,381.77								63,381.77	
On-Roll Assessments			$994,400.23						994,400.23	
Inter-Fund Group Transfers In			(5,430.13)						(5,430.13)	
Inter-Fund Transfers In					$5,430.13				5,430.13	
Total Revenues	$807,381.62		$988,970.10		$5,430.13		$0.00		$1,801,781.85	

 Expenses

Supervisor Fees	$2,800.00								$2,800.00	
Trustee Services	8,417.09								8,417.09	
Management	22,916.70								22,916.70	
Engineering	5,904.38								5,904.38	
Disclosure Agent	7,500.00								7,500.00	
District Counsel	26,436.17								26,436.17	
Assessment Administration	20,000.00								20,000.00	
Reamortization Schedules	125.00								125.00	
Travel and Per Diem	1,125.69								1,125.69	
Postage & Shipping	1.38								1.38	
Legal Advertising	398.79								398.79	
Miscellaneous	137.90								137.90	
Web Site Maintenance	2,000.00								2,000.00	
Dues, Licenses, and Fees	175.00								175.00	
General Liability Insurance	15,682.00								15,682.00	
Property & Casualty	355,806.00								355,806.00	
Cyber Liability	596.00								596.00	
3-Month Reserve	10,876.35								10,876.35	
Capex Reserve	262,253.95								262,253.95	
Principal Payments - Series 2017A			$280,000.00						280,000.00	
Principal Payments - Series 2022A			60,000.00						60,000.00	
Interest Payments - Series 2017A			728,611.89						728,611.89	
Interest Payments - Series 2022A			49,296.25						49,296.25	
Total Expenses	$743,152.40		$1,117,908.14		$0.00		$0.00		$1,861,060.54	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$35,729.20								$35,729.20	
Interest Income			$86,600.29						86,600.29	
Dividend Income			24.17						24.17	
Total Other Revenues (Expenses) & Gains (Losses)	$35,729.20		$86,624.46		$0.00		$0.00		$122,353.66	
Change In Net Assets	$99,958.42		($42,313.58)		$5,430.13		$0.00		$63,074.97	

Net Assets At Beginning Of Year	
$296,084.24		
$1,986,696.87		
$1,728.62		
$0.00		
$2,284,509.73	

Net Assets At End Of Year	

$396,042.66		

$1,944,383.29		

$7,158.75		

$0.00		

$2,347,584.70	

Budget to Actual
For The Month Ending 7/31/2025

Year To Date

Actual	Budget	Variance

FY 2025
Adopted Budget

Percentage

Revenues

On-Roll Assessments	$	743,670.94		$	792,150.50		$	(48,479.56)		$	950,580.59		78.23%	
Off-Roll Assessments	328.91		274.10		54.81		328.91		100.00%	
Other Revenue	63,381.77		75,000.00		(11,618.23)		90,000.00		70.42%	
Net Revenues	$	807,381.62		$	867,424.60		$	(60,042.98)		$ 1,040,909.50		77.57%	
General & Administrative Expenses

Supervisor Fees	$	2,800.00		$	4,000.00		$	(1,200.00)		$	4,800.00		58.33%	
Trustee Services	8,417.09		8,333.30		83.79		10,000.00		84.17%	
Management	22,916.70		22,916.70		-		27,500.00		83.33%	
Engineering	5,904.38		8,333.30		(2,428.92)		10,000.00		59.04%	
Disclosure Agent	7,500.00		8,333.30		(833.30)		10,000.00		75.00%	
Property Appraiser	-		1,250.00		(1,250.00)		1,500.00		0.00%	
District Counsel	26,436.17		50,000.00		(23,563.83)		60,000.00		44.06%	
Assessment Administration	20,000.00		16,666.70		3,333.30		20,000.00		100.00%	
Reamortization Schedules	125.00		625.00		(500.00)		750.00		16.67%	
Audit	-		8,333.30		(8,333.30)		10,000.00		0.00%	
Arbitrage Calculation	-		833.30		(833.30)		1,000.00		0.00%	
Travel and Per Diem	1,125.69		666.70		458.99		800.00		140.71%	
Telephone	-		41.70		(41.70)		50.00		0.00%	
Postage & Shipping	1.38		833.30		(831.92)		1,000.00		0.14%	
Legal Advertising	398.79		2,083.30		(1,684.51)		2,500.00		15.95%	
Miscellaneous	137.90		2,500.00		(2,362.10)		3,000.00		4.60%	
Office Supplies	-		41.70		(41.70)		50.00		0.00%	
Property Taxes	-		125.00		(125.00)		150.00		0.00%	
Web Site Maintenance	2,000.00		2,350.00		(350.00)		2,820.00		70.92%	
Dues, Licenses, and Fees	175.00		145.80		29.20		175.00		100.00%	
General Liability Insurance	15,682.00		7,422.30		8,259.70		8,906.70		176.07%	
Property & Casualty	355,806.00		311,261.50		44,544.50		373,513.80		95.26%	
Cyber Liability	596.00		550.00		46.00		660.00		90.30%	
3-Month Reserve	10,876.35		95,833.30		(84,956.95)		115,000.00		9.46%	
Capex Reserve	262,253.95		313,945.10		(51,691.15)		376,734.00		69.61%	
Total General & Administrative Expenses	$	743,152.40		$	867,424.60		$	(124,272.20)		$ 1,040,909.50		71.39%	

Total Expenses

Interest Income	$	35,729.20		$	-	$	35,729.20		$	-	
Total Other Income (Expense)	$	35,729.20		$	-	$	35,729.20		$	-	
Net Income (Loss)	$	99,958.42		$	-	$	99,958.42		$	-	

Income (Loss) from Operations Other Income (Expense)

 $	743,152.40	 $	867,424.60	 $	(124,272.20)    $	- 

$	64,229.22	$	-	$	64,229.22	$	-