Grove Resort CDD
June 2026 Financial Package

June 30, 2026

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

Statement of Financial Position As of 6/30/2026

Fund		Fund	

Assets			

$709,939.69					
242,464.71					
359.72					
1,773.38					
		$156,245.88			
		86,121.74			
		930,012.50			
		130,936.52			
		758,864.96			
		29.86			
		0.04			
		4,482.13			
		78.52			
		159.70			
				$12,459.75	
$954,537.50		$2,066,931.85		$12,459.75	
$0.00		$0.00		$0.00	
$954,537.50		$2,066,931.85		$12,459.75	

General Fund

Debt Service

Capital Projects

Current Assets
General Checking Account Assessments Receivable Assessment Receivable - Off Roll Prepaid Expenses
Assessments Receivable (17)
Assessments Receivable (22)
Debt Service Reserve - Series 2017A Debt Service Reserve - Series 2022A Revenue - Series 2017A
Interest - Series 2017A Interest - Series 2022A Prepayment - Series 2017A Principal - Series 2017A Revenue - Series 2022A
Acquisition/Construction - Series 2022A Total Current Assets

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

Total Assets

Current Liabilities

Liabilities and Net Assets

Accounts Payable	$6,049.23				
Deferred Revenue	242,464.71				
Deferred Revenue - Off Roll	359.72				
Deferred Revenue			$133,479.91		
Deferred Revenue			108,887.71			
Total Current Liabilities	$248,873.66		$242,367.62		$0.00	

  

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

Total Liabilities

Net Assets

 
$0.00	$0.00

$248,873.66	$242,367.62

$0.00

$0.00

General Long Term Debt		Total	

$0.00

$1,824,564.23 12,025,435.77
$13,850,000.00

$13,850,000.00		

$709,939.69 242,464.71
359.72
1,773.38
156,245.88
86,121.74
930,012.50
130,936.52
758,864.96
29.86
0.04
4,482.13
78.52
159.70
12,459.75
$3,033,929.10

$1,824,564.23 12,025,435.77
$13,850,000.00

$16,883,929.10	

$0.00

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

$13,850,000.00		

$6,049.23 242,464.71
359.72
133,479.91
108,887.71
$491,241.28

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

$14,341,241.28	

$0.00

$13,850,000.00		

($239,344.16) 677,695.96
177,788.04
89,524.00
2,057,429.31
(232,865.08)
8,277.83
4,181.92

$2,542,687.82

$16,883,929.10	

Net Assets, Unrestricted	($239,344.16)				
Net Assets - General Government	677,695.96				
Current Year Net Assets - General Government	177,788.04				
Fund Balance Nonspendable Prepaid Net Assets, Unrestricted	89,524.00		
$2,057,429.31		
Current Year Net Assets, Unrestricted			(232,865.08)		
Net Assets, Unrestricted					$8,277.83	
Current Year Net Assets, Unrestricted					4,181.92	
Total Net Assets	$705,663.84		$1,824,564.23		$12,459.75	
						
Total Liabilities and Net Assets	$954,537.50		$2,066,931.85		$12,459.75	

 

Statement of Activities As of 6/30/2026

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments	$797,150.24								$797,150.24	
Off-Roll Assessments	185.97								185.97	
Other Income & Other Financing Sources	52,637.40								52,637.40	
On-Roll Assessments			$827,949.05						827,949.05	
Inter-Fund Group Transfers In			(3,946.93)						(3,946.93)	
Inter-Fund Transfers In					$3,946.93				3,946.93	
Total Revenues	$849,973.61		$824,002.12		$3,946.93		$0.00		$1,677,922.66	

Expenses

Supervisor Fees	$2,000.00								$2,000.00	
Trustee Services	8,375.78								8,375.78	
Management	22,500.00								22,500.00	
Engineering	3,153.69								3,153.69	
Disclosure Agent	10,000.00								10,000.00	
District Counsel	35,335.07								35,335.07	
Assessment Administration	20,000.00								20,000.00	
Tax Preparation	36.46								36.46	
Travel and Per Diem	1,147.69								1,147.69	
Postage & Shipping	45.30								45.30	
Legal Advertising	348.02								348.02	
Web Site Maintenance	1,725.00								1,725.00	
Dues, Licenses, and Fees	175.00								175.00	
General Liability Insurance	17,230.00								17,230.00	
Property & Casualty	311,323.00								311,323.00	
Cyber Liability	626.00								626.00	
Contingency	887.39								887.39	
Capital Expenditures	263,070.00								263,070.00	
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	$697,978.40		$1,105,766.26		$0.00		$0.00		$1,803,744.66	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$25,792.83								$25,792.83	
Interest Income			$48,899.06						48,899.06	
Interest Income					$234.99				234.99	
Total Other Revenues (Expenses) & Gains (Losses)	$25,792.83		$48,899.06		$234.99		$0.00		$74,926.88	
Change In Net Assets	$177,788.04		($232,865.08)		$4,181.92		$0.00		($50,895.12)	
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	
$705,663.84		
$1,824,564.23		
$12,459.75		
$0.00		
$2,542,687.82	

Grove Resort CDD	
Budget to Actual	
For The Month Ending 6/30/2026	

Year To Date	
		Actual		Budget			Variance	Adopted Budget	Percentage	

Revenues									
On-Roll Assessments	$	797,150.24		$	779,734.53		$	17,415.71	$ 1,039,646.09	76.68%	
Off-Roll Assessments		185.97			246.69			(60.72)	328.91	56.54%	
Other Income & Other Financing Sources		52,637.40			67,500.00			(14,862.60)	90,000.00	58.49%	
Net Revenues	$	849,973.61		$	847,481.22		$	2,492.39	
$ 1,129,975.00	
75.22%	
General & Administrative Expenses									
Supervisor Fees	$	2,000.00		$	3,600.00		$	(1,600.00)	$	4,800.00	41.67%	
Trustee Services		8,375.78			7,499.97			875.81	10,000.00	83.76%	
Management		22,500.00			22,500.00			-	30,000.00	75.00%	
Engineering		3,153.69			11,250.00			(8,096.31)	15,000.00	21.02%	
Disclosure Agent		10,000.00			7,499.97			2,500.03	10,000.00	100.00%	
Property Appraiser		-			1,125.00			(1,125.00)	1,500.00	0.00%	
District Counsel		35,335.07			45,000.00			(9,664.93)	60,000.00	58.89%	
Assessment Administration		20,000.00			15,000.03			4,999.97	20,000.00	100.00%	
Reamortization Schedules		-			562.50			(562.50)	750.00	0.00%	
Audit		-			7,499.97			(7,499.97)	10,000.00	0.00%	
Arbitrage Calculation		-			749.97			(749.97)	1,000.00	0.00%	
Tax Preparation		36.46			37.53			(1.07)	50.00	72.92%	
Travel and Per Diem		1,147.69			4,500.00			(3,352.31)	6,000.00	19.13%	
Postage & Shipping		45.30			1,125.00			(1,079.70)	1,500.00	3.02%	
Legal Advertising		348.02			1,874.97			(1,526.95)	2,500.00	13.92%	
Property Taxes		-			112.50			(112.50)	150.00	0.00%	
Web Site Maintenance		1,725.00			2,025.00			(300.00)	2,700.00	63.89%	
Dues, Licenses, and Fees		175.00			131.22			43.78	175.00	100.00%	
General Liability Insurance		17,230.00			12,937.50			4,292.50	17,250.00	99.88%	
Property & Casualty		311,323.00			293,542.47			17,780.53	391,390.00	79.54%	
Cyber Liability		626.00			569.97			56.03	760.00	82.37%	
Contingency		887.39			11,250.00			(10,362.61)	15,000.00	5.92%	
3-Month Reserve		-			86,249.97			(86,249.97)	115,000.00	0.00%	
Capital Expenditures		263,070.00			310,837.68			(47,767.68)	414,450.00	63.47%	
Total General & Administrative Expenses	$	697,978.40		$	847,481.22		$	(149,502.82)	
$ 1,129,975.00	
61.77%	
Total Expenses	  $		697,978.40		 $		847,481.22		 $		(149,502.82)	 $ 1,129,975.00		
Income (Loss) from Operations	$	151,995.21		$	-		$	151,995.21	$	-		
Other Income (Expense)									
Interest Income	$	25,792.83		$	-		$	25,792.83	$	-		
Total Other Income (Expense)	$	25,792.83		$	-		$	25,792.83	
$	-		
Net Income (Loss)	$	177,788.04		$	-		$	177,788.04	
$	-