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 9/30/2025

General Fund	Debt Service Fund	Capital Projects Fund	

Assets		

$474,663.02		
6,000.00		
84,023.24		
185.97		
$11,250.71		
931,900.00		
157,837.13		
878,698.77		
37.33		
5.47		
16,277.13		
58,777.74		

General Long	Total Term Debt

Current Assets
General Checking Account Due From Other Funds Prepaid Expenses
Assessment Receivable - Off Roll Due From Other Funds
Debt Service Reserve - Series 2017A Debt Service Reserve - Series 2022A Revenue - Series 2017A
Interest - Series 2017A Interest - Series 2022A Prepayment A1 Bond Revenue - Series 2022A
Acquisition/Construction - Series 2022A

$8,251.86

$474,663.02
6,000.00
84,023.24
185.97
11,250.71
931,900.00
157,837.13
878,698.77
37.33
5.47
16,277.13
58,777.74
8,251.86

Total Current Assets

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

Total Assets

    
$564,872.23	$2,054,784.28	$8,251.86	$0.00	$2,627,908.37

$2,043,533.57	$2,043,533.57 12,151,466.43	12,151,466.43

$0.00	$0.00	$0.00	$14,195,000.00	$14,195,000.00

$564,872.23	$2,054,784.28	$8,251.86	$14,195,000.00	$16,822,908.37

    

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$15,856.05								$15,856.05	
Due To Other Funds	11,250.71								11,250.71	
Deferred Revenue - Off Roll	185.97								185.97	
Due To Other Funds			$6,000.00						6,000.00	
Total Current Liabilities	$27,292.73		$6,000.00		$0.00		$0.00		$33,292.73	

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets

$14,195,000.00	$14,195,000.00

$0.00	$0.00	$0.00	$14,195,000.00	$14,195,000.00

$27,292.73	$6,000.00	$0.00	$14,195,000.00	$14,228,292.73

Net Assets, Unrestricted	$10,082.02								$10,082.02	
Current Year Net Assets, Unrestricted	(253,508.08)								(253,508.08)	
Net Assets - General Government	196,478.22								196,478.22	
Current Year Net Assets - General Government	495,003.34								495,003.34	
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			62,087.41						62,087.41	
Net Assets, Unrestricted					$1,728.62				1,728.62	
Current Year Net Assets, Unrestricted					6,523.24				6,523.24	
Total Net Assets	$537,579.50		$2,048,784.28		$8,251.86		$0.00		$2,594,615.64	
										
Total Liabilities and Net Assets	$564,872.23		$2,054,784.28		$8,251.86		$14,195,000.00		$16,822,908.37	

Revenues

On-Roll Assessments Off-Roll Assessments Other Revenue
On-Roll Assessments
Inter-Fund Group Transfers In Inter-Fund Transfers In
Total Revenues

Expenses

Statement of Activities As of 9/30/2025

General Fund	Debt Service Fund	Capital Projects Fund	General Long Term Debt	Total	

$962,150.54			

	

$962,150.54	
328.91				328.91	
79,531.37				79,531.37	
	$1,093,558.79			1,093,558.79	
	(6,479.42)			(6,479.42)	

	$6,479.42		6,479.42	
$1,042,010.82	$1,087,079.37	$6,479.42	$0.00	$2,135,569.61

Supervisor Fees	$4,000.00								$4,000.00	
Trustee Services	8,417.09								8,417.09	
Management	27,500.00								27,500.00	
Engineering	11,746.30								11,746.30	
Disclosure Agent	10,000.00								10,000.00	
District Counsel	37,947.10								37,947.10	
Assessment Administration	20,000.00								20,000.00	
Reamortization Schedules	250.00								250.00	
Arbitrage Calculation	500.00								500.00	
Travel and Per Diem	1,782.03								1,782.03	
Postage & Shipping	1,244.68								1,244.68	
Legal Advertising	658.87								658.87	
Miscellaneous	137.90								137.90	
Web Site Maintenance	2,520.00								2,520.00	
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	333,039.45								333,039.45	
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	$842,878.77		$1,128,044.08		$0.00		$0.00		$1,970,922.85	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$42,363.21								$42,363.21	
Interest Income			$103,027.95						103,027.95	
Dividend Income			24.17						24.17	
Interest Income					$43.82				43.82	
Total Other Revenues (Expenses) & Gains (Losses)	$42,363.21		$103,052.12		$43.82		$0.00		$145,459.15	
Change In Net Assets	$241,495.26		$62,087.41		$6,523.24		$0.00		$310,105.91	

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	

$537,579.50		

$2,048,784.28		

$8,251.86		

$0.00		

$2,594,615.64	

Budget to Actual
For The Month Ending 9/30/2025

Year To Date

Actual	Budget

Variance

FY 2025
Adopted	Percentage Budget

Revenues

On-Roll Assessments	$	962,150.54		$	950,580.59		$	11,569.95		$ 950,580.59		101.22%	
Off-Roll Assessments	328.91		328.91		-		328.91		100.00%	
Other Revenue	79,531.37		90,000.00		(10,468.63)		90,000.00		88.37%	
Net Revenues	$  1,042,010.82		$ 1,040,909.50		$	1,101.32		$1,040,909.50		100.11%	
General & Administrative Expenses

Supervisor Fees	$	4,000.00		$	4,800.00		$	(800.00)		$	4,800.00		83.33%	
Trustee Services	8,417.09		10,000.00		(1,582.91)		10,000.00		84.17%	
Management	27,500.00		27,500.00		-		27,500.00		100.00%	
Engineering	11,746.30		10,000.00		1,746.30		10,000.00		117.46%	
Disclosure Agent	10,000.00		10,000.00		-		10,000.00		100.00%	
Property Appraiser	-		1,500.00		(1,500.00)		1,500.00		0.00%	
District Counsel	37,947.10		60,000.00		(22,052.90)		60,000.00		63.25%	
Assessment Administration	20,000.00		20,000.00		-		20,000.00		100.00%	
Reamortization Schedules	250.00		750.00		(500.00)		750.00		33.33%	
Audit	-		10,000.00		(10,000.00)		10,000.00		0.00%	
Arbitrage Calculation	500.00		1,000.00		(500.00)		1,000.00		50.00%	
Travel and Per Diem	1,782.03		800.00		982.03		800.00		222.75%	
Telephone	-		50.00		(50.00)		50.00		0.00%	
Postage & Shipping	1,244.68		1,000.00		244.68		1,000.00		124.47%	
Legal Advertising	658.87		2,500.00		(1,841.13)		2,500.00		26.35%	
Miscellaneous	137.90		3,000.00		(2,862.10)		3,000.00		4.60%	
Office Supplies	-		50.00		(50.00)		50.00		0.00%	
Property Taxes	-		150.00		(150.00)		150.00		0.00%	
Web Site Maintenance	2,520.00		2,820.00		(300.00)		2,820.00		89.36%	
Dues, Licenses, and Fees	175.00		175.00		-		175.00		100.00%	
General Liability Insurance	15,682.00		8,906.70		6,775.30		8,906.70		176.07%	
Property & Casualty	355,806.00		373,513.80		(17,707.80)		373,513.80		95.26%	
Cyber Liability	596.00		660.00		(64.00)		660.00		90.30%	
3-Month Reserve	10,876.35		115,000.00		(104,123.65)		115,000.00		9.46%	
Capex Reserve	333,039.45		376,734.00		(43,694.55)		376,734.00		88.40%	
Total General & Administrative Expenses	$	842,878.77		$ 1,040,909.50		$	(198,030.73)		$1,040,909.50		80.98%	
Total Expenses	  $	842,878.77		 $ 1,040,909.50		 $	(198,030.73)		  $1,040,909.50			
Income (Loss) from Operations	$	199,132.05		$	-		$	199,132.05		$	-			

Other Income (Expense)

Interest Income	$	42,363.21		$	-	$	42,363.21		$	-	
Total Other Income (Expense)	$	42,363.21		$	-	$	42,363.21		$	-	
Net Income (Loss)	$	241,495.26		$	-	$	241,495.26		$	-