Grove Resort CDD
202	Financial

, 202

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

0
Grove Resort CDD Statement of Financial Position
As of 8/31/2025

General Fund	Debt Service
Fund

Capital Projects Fund

General Long Term Debt

Total

	Assets		
Current Assets
General Checking Account	

$527,828.75				

$527,828.75	
Due From Other Funds	6,000.00				6,000.00	
Prepaid Expenses	1,728.49				1,728.49	
Assessment Receivable - Off Roll	185.97				185.97	
Debt Service Reserve - Series 2017A		$940,603.61			940,603.61	
Debt Service Reserve - Series 2022A		157,837.13			157,837.13	
Revenue - Series 2017A		875,966.01			875,966.01	
Interest - Series 2017A		37.21			37.21	
Interest - Series 2022A		5.45			5.45	
Prepayment A1 Bond		4,433.46			4,433.46	
Revenue - Series 2022A		58,583.09			58,583.09	
Acquisition/Construction - Series 2022A			$7,701.83		7,701.83	
Total Current Assets	$535,743.21	$2,037,465.96	$7,701.83	$0.00	$2,580,911.00	

Investments
Amount Available in Debt Service Funds				

$2,037,465.96	

$2,037,465.96	
Amount To Be Provided				12,157,534.04	12,157,534.04	
Total Investments	$0.00	$0.00	$0.00	$14,195,000.00	$14,195,000.00	
Total Assets	$535,743.21	$2,037,465.96	$7,701.83	$14,195,000.00	$16,775,911.00	

	Liabilities and Net Assets	

Current Liabilities
Accounts Payable	$4,918.82				$4,918.82	
Deferred Revenue - Off Roll	185.97				185.97	
Due To Other Funds		$6,000.00			6,000.00	
Total Current Liabilities	$5,104.79	$6,000.00	$0.00	$0.00	$11,104.79	

Long Term Liabilities
Revenue Bonds Payable - Long-Term				$14,195,000.00	$14,195,000.00	
Total Long Term Liabilities	$0.00	$0.00	$0.00	$14,195,000.00	$14,195,000.00	

Total Liabilities	$5,104.79	$6,000.00	$0.00	$14,195,000.00	$14,206,104.79

Net Assets
Net Assets, Unrestricted	$10,082.02								$10,082.02	
Current Year Net Assets, Unrestricted	(260,779.88)								(260,779.88)	
Net Assets - General Government	196,478.22								196,478.22	
Current Year Net Assets - General Government	495,334.06								495,334.06	
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			44,769.09						44,769.09	
Net Assets, Unrestricted					$1,728.62				1,728.62	
Current Year Net Assets, Unrestricted					5,973.21				5,973.21	
Total Net Assets	$530,638.42		$2,031,465.96		$7,701.83		$0.00		$2,569,806.21	
										
Total Liabilities and Net Assets	$535,743.21		$2,037,465.96		$7,701.83		$14,195,000.00		$16,775,911.00	

0

Debt Service	Capital Projects	General Long	
Fund	Fund	Term Debt	

Grove Resort CDD Statement of Activities As of 8/31/2025

Revenues

General Fund

Total

On-Roll Assessments	$955,326.58				$955,326.58	
Off-Roll Assessments	328.91				328.91	
Other Revenue	72,259.57				72,259.57	
On-Roll Assessments		$1,085,997.30			1,085,997.30	
Inter-Fund Group Transfers In		(5,954.81)			(5,954.81)	
Inter-Fund Transfers In			$5,954.81		5,954.81	
Total Revenues	$1,027,915.06	$1,080,042.49	$5,954.81	$0.00	$2,113,912.36	

Expenses

Supervisor Fees	$3,400.00				$3,400.00	
Trustee Services	8,417.09				8,417.09	
Management	25,208.37				25,208.37	
Engineering	10,823.20				10,823.20	
Disclosure Agent	7,500.00				7,500.00	
District Counsel	33,731.67				33,731.67	
Assessment Administration	20,000.00				20,000.00	
Reamortization Schedules	125.00				125.00	
Travel and Per Diem	1,556.04				1,556.04	
Postage & Shipping	1,016.55				1,016.55	
Legal Advertising	622.82				622.82	
Miscellaneous	137.90				137.90	
Web Site Maintenance	2,110.00				2,110.00	
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	
Capital Expenditures	70,785.50				70,785.50	
Principal Payments - Series 2017A		$290,000.00			290,000.00	
Principal Payments - Series 2022A		60,000.00			60,000.00	
Interest Payments - Series 2017A		728,747.83			728,747.83	
Interest Payments - Series 2022A		49,296.25			49,296.25	
Total Expenses	$830,823.44	$1,128,044.08	$0.00	$0.00	$1,958,867.52	

Other Revenues (Expenses} & Gains (Losses}						
Interest Income	$37,462.56				$37,462.56	
Interest Income		$92,746.51			92,746.51	
Dividend Income		24.17			24.17	
Interest Income			$18.40		18.40	
Total Other Revenues (Expenses) & Gains (Losses)	$37,462.56	$92,770.68	$18.40	$0.00	$130,251.64	
Change In Net Assets	$234,554.18	$44,769.09	$5,973.21	$0.00	$285,296.48	

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	

$530,638.42	

$2,031,465.96	

$7,701.83	

$0.00	

$2,569,806.21	

Grove Resort CDD
Budget to Actual
For The Month Ending 8/31/2025

Year To Date

Actual	Budget	Variance

FY 2025	Percentage Adopted Budget

Revenues

On-Roll Assessments	$	955,326.58		$	871,365.55		$	83,961.03		$	950,580.59		100.50%	
Off-Roll Assessments	328.91		301.51		27.40		328.91		100.00%	
Other Revenue	72,259.57		82,500.00		(10,240.43)		90,000.00		80.29%	
Net Revenues	$ 1,027,915.06		$	954,167.06		$	73,748.00		$ 1,040,909.50		98.75%	
General & Administrative Expenses

Supervisor Fees	$	3,400.00		$	4,400.00		$	(1,000.00)		$	4,800.00		70.83%	
Trustee Services	8,417.09		9,166.63		(749.54)		10,000.00		84.17%	
Management	25,208.37		25,208.37		-		27,500.00		91.67%	
Engineering	10,823.20		9,166.63		1,656.57		10,000.00		108.23%	
Disclosure Agent	7,500.00		9,166.63		(1,666.63)		10,000.00		75.00%	
Property Appraiser	-		1,375.00		(1,375.00)		1,500.00		0.00%	
District Counsel	33,731.67		55,000.00		(21,268.33)		60,000.00		56.22%	
Assessment Administration	20,000.00		18,333.37		1,666.63		20,000.00		100.00%	
Reamortization Schedules	125.00		687.50		(562.50)		750.00		16.67%	
Audit	-		9,166.63		(9,166.63)		10,000.00		0.00%	
Arbitrage Calculation	-		916.63		(916.63)		1,000.00		0.00%	
Travel and Per Diem	1,556.04		733.37		822.67		800.00		194.51%	
Telephone	-		45.87		(45.87)		50.00		0.00%	
Postage & Shipping	1,016.55		916.63		99.92		1,000.00		101.66%	
Legal Advertising	622.82		2,291.63		(1,668.81)		2,500.00		24.91%	
Miscellaneous	137.90		2,750.00		(2,612.10)		3,000.00		4.60%	
Office Supplies	-		45.87		(45.87)		50.00		0.00%	
Property Taxes	-		137.50		(137.50)		150.00		0.00%	
Web Site Maintenance	2,110.00		2,585.00		(475.00)		2,820.00		74.82%	
Dues, Licenses, and Fees	175.00		160.38		14.62		175.00		100.00%	
General Liability Insurance	15,682.00		8,164.53		7,517.47		8,906.70		176.07%	
Property & Casualty	355,806.00		342,387.65		13,418.35		373,513.80		95.26%	
Cyber Liability	596.00		605.00		(9.00)		660.00		90.30%	
3-Month Reserve	10,876.35		105,416.63		(94,540.28)		115,000.00		9.46%	
Capex Reserve	333,039.45		345,339.61		(12,300.16)		376,734.00		88.40%	
Total General & Administrative Expenses	$	830,823.44		$	954,167.06		$  (123,343.62)		$ 1,040,909.50		79.82%	

Total Expenses	
  $	830,823.44	
  $	954,167.06	
 $  (123,343.62)	
  $ 1,040,909.50	
Income (Loss) from Operations Other Income (Expense)	
$	197,091.62	
$	-	
$	197,091.62	
$	
-	
Interest Income	$	37,462.56		$	-	$	37,462.56		$	-		
Total Other Income (Expense)	$	37,462.56		$	-	$	37,462.56		$	-		
Net Income (Loss)	$	234,554.18		$	-	$	234,554.18		$	-