Grove Resort CDD
April 2026 Financial Package

April 30, 2026

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

	Grove Resort CDD	
	Statement of Financial Position	
	As of 4/30/2026	
	
General Fund	
Debt Service Fund	
Capital Projects Fund	
	
Assets	
Current Assets		
General Checking Account	$860,409.29	
Assessments Receivable	394,328.68	
Prepaid Expenses	1,773.38	
Assessments Receivable (17)	$292,311.58	
Assessments Receivable (22)	108,887.71	
Debt Service Reserve - Series 2017A	932,907.02	
Debt Service Reserve - Series 2022A	157,837.50	
Revenue - Series 2017A	602,971.32	
Interest - Series 2017A	328,344.09	
Interest - Series 2022A	14.84	
Prepayment A1 Bond	9,444.46	
Principal - Series 2017A	78.09	
Revenue - Series 2022A	62,018.25	
Acquisition/Construction - Series 2022A	$11,655.77	
Total Current Assets	$1,256,511.35	$2,494,814.86	$11,655.77	

Investments		
Amount Available in Debt Service Funds		
Amount To Be Provided		
Total Investments	$0.00	$0.00	$0.00	
Total Assets	$1,256,511.35	$2,494,814.86	$11,655.77	

Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$41,629.00	
Deferred Revenue	394,328.68	
Deferred Revenue	$292,311.58	
Deferred Revenue	108,887.71	
Total Current Liabilities	$435,957.68	$401,199.29	$0.00	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$0.00	$0.00	$0.00	
Total Liabilities	$435,957.68	$401,199.29	$0.00	

Net Assets		
Net Assets, Unrestricted	($239,344.16)	
Current Year Net Assets, Unrestricted	(70,129.00)	
Net Assets - General Government	677,695.96	
Current Year Net Assets - General Govt	362,806.87	
Fund Balance Nonspendable Prepaid	89,524.00	
Net Assets, Unrestricted	$2,057,429.31	
Current Year Net Assets, Unrestricted	36,186.26	
Net Assets, Unrestricted	$8,277.83	
Current Year Net Assets, Unrestricted	3,377.94	
Total Net Assets	$820,553.67	$2,093,615.57	$11,655.77	
		
Total Liabilities and Net Assets	$1,256,511.35	$2,494,814.86	$11,655.77	

$0.00

$2,093,615.57 11,821,384.43
$13,915,000.00

$13,915,000.00		$860,409.29 394,328.68
1,773.38
292,311.58
108,887.71
932,907.02
157,837.50
602,971.32
328,344.09
14.84
9,444.46
78.09
62,018.25
11,655.77
$3,762,981.98

$2,093,615.57 11,821,384.43
$13,915,000.00

$17,677,981.98	

$0.00

$13,915,000.00
$13,915,000.00

$13,915,000.00		

$41,629.00 394,328.68
292,311.58
108,887.71
$837,156.97

$13,915,000.00
$13,915,000.00

$14,752,156.97	

$0.00

$13,915,000.00		

($239,344.16)
(70,129.00)
677,695.96
362,806.87
89,524.00
2,057,429.31
36,186.26
8,277.83
3,377.94

$2,925,825.01

$17,677,981.98	

General Long	Total Term Debt

Grove Resort CDD Statement of Activities As of 4/30/2026

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments	$645,286.27								$645,286.27	
Off-Roll Assessments	185.97								185.97	
Other Income & Other Financing Sources	31,705.10								31,705.10	
On-Roll Assessments			$669,117.38						669,117.38	
Inter-Fund Group Transfers In			(3,207.41)						(3,207.41)	
Inter-Fund Transfers In					$3,207.41				3,207.41	
Total Revenues	$677,177.34		$665,909.97		$3,207.41		$0.00		$1,346,294.72	

Expenses

Supervisor Fees	$1,600.00								$1,600.00	
Trustee Services	8,375.78								8,375.78	
Management	17,500.00								17,500.00	
Engineering	1,098.30								1,098.30	
Disclosure Agent	10,000.00								10,000.00	
District Counsel	21,861.64								21,861.64	
Assessment Administration	20,000.00								20,000.00	
Tax Preparation	36.46								36.46	
Travel and Per Diem	760.06								760.06	
Postage & Shipping	38.52								38.52	
Legal Advertising	224.42								224.42	
Web Site Maintenance	1,475.00								1,475.00	
Dues, Licenses, and Fees	175.00								175.00	
General Liability Insurance	12,922.50								12,922.50	
Property & Casualty	233,492.25								233,492.25	
Cyber Liability	469.50								469.50	
Contingency	887.39								887.39	
Capital Expenditures	70,129.00								70,129.00	
Principal Payments - Series 2017A			$280,000.00						280,000.00	
Interest Payments - Series 2017A			384,011.25						384,011.25	
Total Expenses	$401,045.82		$664,011.25		$0.00		$0.00		$1,065,057.07	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$16,546.35								$16,546.35	
Interest Income			$34,287.54						34,287.54	
Interest Income					$170.53				170.53	
Total Other Revenues (Expenses) & Gains (Losses)	$16,546.35		$34,287.54		$170.53		$0.00		$51,004.42	
Change In Net Assets	$292,677.87		$36,186.26		$3,377.94		$0.00		$332,242.07	
Net Assets At Beginning Of Year	$527,875.80		$2,057,429.31		$8,277.83		$0.00		$2,593,582.94	

Net Assets At End Of Year	
$820,553.67		
$2,093,615.57		
$11,655.77		
$0.00		
$2,925,825.01	

		Grove Resort CDD				
		Budget to Actual				
For The Month Ending 4/30/2026	

Year To Date	
		Actual	Budget			FY 2026
Variance	Adopted	Percentage Budget	

Revenues						
On-Roll Assessments	$	645,286.27	$	606,460.19		$	38,826.08	$ 1,039,646.09	62.07%	
Off-Roll Assessments		185.97	191.87			(5.90)	328.91	56.54%	
Other Income & Other Financing Sources		31,705.10	52,500.00			(20,794.90)	90,000.00	35.23%	
Net Revenues	$	
677,177.34	$	659,152.06		$	 
18,025.28	$ 1,129,975.00	59.93%	
General & Administrative Expenses						
Supervisor Fees	$	1,600.00	$	2,800.00		$	(1,200.00)	$	4,800.00	33.33%	
Trustee Services		8,375.78	5,833.31			2,542.47	10,000.00	83.76%	
Management		17,500.00	17,500.00			-	30,000.00	58.33%	
Engineering		1,098.30	8,750.00			(7,651.70)	15,000.00	7.32%	
Disclosure Agent		10,000.00	5,833.31			4,166.69	10,000.00	100.00%	
Property Appraiser		-	875.00			(875.00)	1,500.00	0.00%	
District Counsel		21,861.64	35,000.00			(13,138.36)	60,000.00	36.44%	
Assessment Administration		20,000.00	11,666.69			8,333.31	20,000.00	100.00%	
Reamortization Schedules		-	437.50			(437.50)	750.00	0.00%	
Audit		-	5,833.31			(5,833.31)	10,000.00	0.00%	
Arbitrage Calculation		-	583.31			(583.31)	1,000.00	0.00%	
Tax Preparation		36.46	29.19			7.27	50.00	72.92%	
Travel and Per Diem		760.06	3,500.00			(2,739.94)	6,000.00	12.67%	
Postage & Shipping		38.52	875.00			(836.48)	1,500.00	2.57%	
Legal Advertising		224.42	1,458.31			(1,233.89)	2,500.00	8.98%	
Property Taxes		-	87.50			(87.50)	150.00	0.00%	
Web Site Maintenance		1,475.00	1,575.00			(100.00)	2,700.00	54.63%	
Dues, Licenses, and Fees		175.00	102.06			72.94	175.00	100.00%	
General Liability Insurance		12,922.50	10,062.50			2,860.00	17,250.00	74.91%	
Property & Casualty		233,492.25	228,310.81			5,181.44	391,390.00	59.66%	
Cyber Liability		469.50	443.31			26.19	760.00	61.78%	
Contingency		887.39	8,750.00			(7,862.61)	15,000.00	5.92%	
3-Month Reserve		-	67,083.31			(67,083.31)	115,000.00	0.00%	
Capital Expenditures		70,129.00	241,762.64			(171,633.64)	414,450.00	16.92%	
Total General & Administrative Expenses	$	
401,045.82	$	659,152.06		$	 
(258,106.24)	$ 1,129,975.00	35.49%	
Total Expenses	 $		401,045.82	 $	659,152.06		 $		(258,106.24)	 $ 1,129,975.00	
Income (Loss) from Operations	$	276,131.52	$	-		$	276,131.52	$	-	
Other Income (Expense)						
Interest Income	$	16,546.35	$	-		$	16,546.35	$	-	
Total Other Income (Expense)	$	
16,546.35	$	-		$	
16,546.35	$	-	
Net Income (Loss)	$	
292,677.87	$	-		$	
292,677.87	$	-