Grove Resort CDD
May 2026 Financial Package

May 31, 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 5/31/2026	
	
General Fund	
Debt Service Fund	
Capital Projects Fund	
	
Assets	
Current Assets		
General Checking Account	$849,170.83	
Assessments Receivable	331,003.70	
Prepaid Expenses	1,773.38	
Assessments Receivable (17)	$225,926.20	
Assessments Receivable (22)	108,887.71	
Debt Service Reserve - Series 2017A	935,413.69	
Debt Service Reserve - Series 2022A	117,353.38	
Revenue - Series 2017A	665,866.44	
Interest - Series 2017A	29.78	
Interest - Series 2022A	0.04	
Prepayment A1 Bond	4,469.84	
Principal - Series 2017A	78.30	
Revenue - Series 2022A	159.26	
Acquisition/Construction - Series 2022A	$12,111.19	
Total Current Assets	$1,181,947.91	$2,058,184.64	$12,111.19	

Investments		
Amount Available in Debt Service Funds		
Amount To Be Provided		
Total Investments	$0.00	$0.00	$0.00	
Total Assets	$1,181,947.91	$2,058,184.64	$12,111.19	

Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$8,263.57	
Deferred Revenue	331,003.70	
Deferred Revenue	$225,926.20	
Deferred Revenue	108,887.71	
Total Current Liabilities	$339,267.27	$334,813.91	$0.00	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$0.00	$0.00	$0.00	
Total Liabilities	$339,267.27	$334,813.91	$0.00	

Net Assets		
Net Assets, Unrestricted	($239,344.16)	
Current Year Net Assets, Unrestricted	(113,879.00)	
Net Assets - General Government	677,695.96	
Current Year Net Assets - General Government	428,683.84	
Fund Balance Nonspendable Prepaid	89,524.00	
Net Assets, Unrestricted	$2,057,429.31	
Current Year Net Assets, Unrestricted	(334,058.58)	
Net Assets, Unrestricted	$8,277.83	
Current Year Net Assets, Unrestricted	3,833.36	
Total Net Assets	$842,680.64	$1,723,370.73	$12,111.19	
		
Total Liabilities and Net Assets	$1,181,947.91	$2,058,184.64	$12,111.19	

 
General Long Term Debt		Total	

$0.00		

$849,170.83 331,003.70
1,773.38
225,926.20
108,887.71
935,413.69
117,353.38
665,866.44
29.78
0.04
4,469.84
78.30
159.26
12,111.19
$3,252,243.74	

$1,723,370.73 12,126,629.27
$13,850,000.00		

$1,723,370.73 12,126,629.27
$13,850,000.00	
$13,850,000.00		$17,102,243.74	

$0.00		

$8,263.57 331,003.70
225,926.20
108,887.71
$674,081.18	

$13,850,000.00
$13,850,000.00		

$13,850,000.00
$13,850,000.00	
$13,850,000.00		$14,524,081.18	

$0.00		

($239,344.16)
(113,879.00)
677,695.96
428,683.84
89,524.00
2,057,429.31
(334,058.58)
8,277.83
3,833.36

$2,578,162.56	
			
$13,850,000.00		$17,102,243.74	

Grove Resort CDD Statement of Activities As of 5/31/2026

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments	$708,611.25								$708,611.25	
Off-Roll Assessments	185.97								185.97	
Other Income & Other Financing Sources	42,729.90								42,729.90	
On-Roll Assessments			$735,502.76						735,502.76	
Inter-Fund Group Transfers In			(3,631.55)						(3,631.55)	
Inter-Fund Transfers In					$3,631.55				3,631.55	
Total Revenues	$751,527.12		$731,871.21		$3,631.55		$0.00		$1,487,029.88	

Expenses

Supervisor Fees	$2,000.00								$2,000.00	
Trustee Services	8,375.78								8,375.78	
Management	20,000.00								20,000.00	
Engineering	1,098.30								1,098.30	
Disclosure Agent	10,000.00								10,000.00	
District Counsel	29,518.14								29,518.14	
Assessment Administration	20,000.00								20,000.00	
Tax Preparation	36.46								36.46	
Travel and Per Diem	842.13								842.13	
Postage & Shipping	45.30								45.30	
Legal Advertising	259.18								259.18	
Web Site Maintenance	1,600.00								1,600.00	
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	113,879.00								113,879.00	
Principal Payments - Series 2017A			$285,000.00						285,000.00	
Principal Payments - Series 2022A			60,000.00						60,000.00	
Interest Payments - Series 2017A			760,766.26						760,766.26	
Total Expenses	$455,600.93		$1,105,766.26		$0.00		$0.00		$1,561,367.19	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$18,878.65								$18,878.65	
Interest Income			$39,836.47						39,836.47	
Interest Income					$201.81				201.81	
Total Other Revenues (Expenses) & Gains (Losses)	$18,878.65		$39,836.47		$201.81		$0.00		$58,916.93	
Change In Net Assets	$314,804.84		($334,058.58)		$3,833.36		$0.00		($15,420.38)	
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	
$842,680.64		
$1,723,370.73		
$12,111.19		
$0.00		
$2,578,162.56	

Budget to Actual
For The Month Ending 5/31/2026

Year To Date

Actual		Budget		Variance		Adopted Budget	

$	

708,611.25		

$	

693,097.36		

$	

15,513.89		

$ 1,039,646.09	
	185.97			219.28			(33.31)		328.91	
	42,729.90			60,000.00			(17,270.10)		90,000.00	
$	751,527.12		$	753,316.64		$	(1,789.52)		$ 1,129,975.00	

$	
2,000.00		
$	
3,200.00		
$	
(1,200.00)		
$	4,800.00	
	8,375.78			6,666.64			1,709.14		10,000.00	
	20,000.00			20,000.00			-		30,000.00	
	1,098.30			10,000.00			(8,901.70)		15,000.00	
	10,000.00			6,666.64			3,333.36		10,000.00	
	-			1,000.00			(1,000.00)		1,500.00	
	29,518.14			40,000.00			(10,481.86)		60,000.00	
	20,000.00			13,333.36			6,666.64		20,000.00	
	-			500.00			(500.00)		750.00	
	-			6,666.64			(6,666.64)		10,000.00	
	-			666.64			(666.64)		1,000.00	
	36.46			33.36			3.10		50.00	
	842.13			4,000.00			(3,157.87)		6,000.00	
	45.30			1,000.00			(954.70)		1,500.00	
	259.18			1,666.64			(1,407.46)		2,500.00	
	-			100.00			(100.00)		150.00	
	1,600.00			1,800.00			(200.00)		2,700.00	
	175.00			116.64			58.36		175.00	
	12,922.50			11,500.00			1,422.50		17,250.00	
	233,492.25			260,926.64			(27,434.39)		391,390.00	
	469.50			506.80			(37.30)		760.00	
	887.39			10,000.00			(9,112.61)		15,000.00	
	-			76,666.64			(76,666.64)		115,000.00	
	113,879.00			276,300.00			(162,421.00)		414,450.00	
$	455,600.93		$	753,316.64		$	(297,715.71)		$ 1,129,975.00	
 $		455,600.93		  $		753,316.64		 $		(297,715.71)		  $ 1,129,975.00	
$	295,926.19		$	-		$	295,926.19		$	-	

$	
18,878.65		
$	
-		
$	18,878.65		
$	-	
$	18,878.65		$	-		$	18,878.65		$	-	
$	314,804.84		$	-		$	314,804.84		$	-	

FY 2026

Percentage

Revenues
On-Roll Assessments Off-Roll Assessments
Other Income & Other Financing Sources
Net Revenues
General & Administrative Expenses
Supervisor Fees Trustee Services Management Engineering Disclosure Agent Property Appraiser District Counsel
Assessment Administration Reamortization Schedules Audit
Arbitrage Calculation Tax Preparation Travel and Per Diem Postage & Shipping Legal Advertising Property Taxes
Web Site Maintenance Dues, Licenses, and Fees General Liability Insurance Property & Casualty
Cyber Liability Contingency
3-Month Reserve Capital Expenditures
Total General & Administrative Expenses Total Expenses
Income (Loss) from Operations

Other Income (Expense)
Interest Income
Total Other Income (Expense)

Net Income (Loss)

68.16%
56.54%
47.48%

66.51%

41.67%
83.76%
66.67%
7.32%
100.00%
0.00%
49.20%
100.00%
0.00%
0.00%
0.00%
72.92%
14.04%
3.02%
10.37%
0.00%
59.26%
100.00%
74.91%
59.66%
61.78%
5.92%
0.00%
27.48%

40.32%