Title: Grove Resort CDD October 2026 Financials
Author: montejanor

Grove Resort CDD

Grove Resort CDD
October 2025 Financial Package

October 31, 2025

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

Statement of Financial Position As of 10/31/2025

| General Fund | Debt Service Fund | | Capital Projects Fund
| Assets | |
Current Assets | | |
General Checking Account | $455,788.08 | |
Assessments Receivable | 1,039,614.95 | |
Due From Other Funds | 6,000.00 | |
Assessment Receivable - Off Roll | 185.97 | |
Assessments Receivable | $916,949.48 | |
Interest Receivable | 6,540.17 | |
Debt Service Reserve - Series 2017A | 934,880.09 | |
Debt Service Reserve - Series 2022A | 157,837.13 | |
Revenue - Series 2017A | 302,273.38 | |
Interest - Series 2017A | 335,490.57 | |
Interest - Series 2022A | 48,416.74 | |
Prepayment A1 Bond | 16,293.62 | |
Principal - Series 2017A | 255,000.00 | |
Revenue - Series 2022A | 10,552.25 | |
Assessments Receivable | 155,553.79 | |
Interest Receivable | | | $27.85
Acquisition/Construction - Series 2022A | | | 8,776.76
Total Current Assets | $1,501,589.00 | $3,139,787.22 | | $8,804.61
Investments | | |
Amount Available in Debt Service Funds | | |
Amount To Be Provided | | |
Total Investments | $0.00 | $0.00 | | $0.00
Total Assets | $1,501,589.00 | $3,139,787.22 | | $8,804.61
| Liabilities and Net Assets | |
Current Liabilities | | |
Accounts Payable | $22,094.03 | |
Due To Other Funds | 2,186.60 | |
Deferred Revenue | 1,039,614.95 | |
Deferred Revenue - Off Roll | 185.97 | |
Due To Other Funds | $6,000.00 | |
Deferred Revenue | 914,762.88 | |
Deferred Revenue | 155,553.79 | |
Total Current Liabilities | $1,064,081.55 | $1,076,316.67 | | $0.00
Long Term Liabilities | | |
Revenue Bonds Payable - Long-Term | | |
Total Long Term Liabilities | $0.00 | $0.00 | | $0.00
Total Liabilities | $1,064,081.55 | $1,076,316.67 | | $0.00
Net Assets | | |
Net Assets, Unrestricted | ($239,344.16) | |
Net Assets - General Government | 677,695.96 | |
Current Year Net Assets - General Govt | (90,368.35) | |
Fund Balance Nonspendable Prepaid | 89,524.00 | |
Net Assets, Unrestricted | $2,057,429.31 | |
Current Year Net Assets, Unrestricted | 6,041.24 | |
Net Assets, Unrestricted | | | $8,277.83
Current Year Net Assets, Unrestricted | | | 526.78
Total Net Assets | $437,507.45 | $2,063,470.55 | | $8,804.61
Total Liabilities and Net Assets | $1,501,589.00 | $3,139,787.22 | | $8,804.61

General Long Term Debt | | Total

$0.00

$2,067,283.95 12,127,716.05
$14,195,000.00

$14,195,000.00

$455,788.08 1,039,614.95
6,000.00
185.97
916,949.48
6,540.17
934,880.09
157,837.13
302,273.38
335,490.57
48,416.74
16,293.62
255,000.00
10,552.25
155,553.79
27.85
8,776.76
$4,650,180.83

$2,067,283.95 12,127,716.05
$14,195,000.00

$18,845,180.83

$0.00 $14,195,000.00 $14,195,000.00 $14,195,000.00 | | $22,094.03 2,186.60 1,039,614.95 185.97 6,000.00 914,762.88 155,553.79 $2,140,398.22 $14,195,000.00 $14,195,000.00 $16,335,398.22
$0.00 $14,195,000.00 | | ($239,344.16) 677,695.96 (90,368.35) 89,524.00 2,057,429.31 6,041.24 8,277.83 526.78 $2,509,782.61 $18,845,180.83

Statement of Activities As of 10/31/2025

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

Inter-Fund Group Transfers In | ($498.93) | | ($498.93)
Inter-Fund Transfers In | | $498.93 | 498.93
Total Revenues | | | $0.00

$0.00 | | ($498.93) | | $498.93 | | $0.00
$600.00 | | | | | |
5,893.03 | | | | | |
2,500.00 | | | | | |
372.54 | | | | | |
45.06 | | | | | |
125.00 | | | | | |
4,307.50 | | | | | |
77,830.75 | | | | | |
156.50 | | | | | |
$91,830.38 | | $0.00 | | $0.00 | | $0.00
$1,462.03 | | $6,540.17 | | $27.85 | |
$1,462.03 | | $6,540.17 | | $27.85 | | $0.00
($90,368.35) | | $6,041.24 | | $526.78 | | $0.00
$527,875.80 | | $2,057,429.31 | | $8,277.83 | | $0.00
$437,507.45 | | $2,063,470.55 | | $8,804.61 | | $0.00

Expenses

Supervisor Fees Trustee Services Management
Travel and Per Diem Legal Advertising
Web Site Maintenance General Liability Insurance Property & Casualty
Cyber Liability Total Expenses
Other Revenues (Expenses) & Gains (Losses)
Interest Income Interest Income Interest Income
Total Other Revenues (Expenses) & Gains (Losses)

Change In Net Assets

Net Assets At Beginning Of Year

Net Assets At End Of Year

$600.00 5,893.03
2,500.00
372.54
45.06
125.00
4,307.50
77,830.75
156.50

$91,830.38

$1,462.03 6,540.17
27.85

$8,030.05 ($83,800.33)
$2,593,582.94

$2,509,782.61

Revenues

Budget to Actual
For The Month Ending 10/31/2025

Variance | FY 2026 Adopted Budget | | Percentage
$	(86,637.17) | $ 1,039,646.09 | | 0.00%
(27.41) | 328.91 | | 0.00%
(7,500.00) | 90,000.00 | | 0.00%
$	(94,164.58) | $ 1,129,975.00 | | 0.00%
$	200.00 | $ | 4,800.00 | | 12.50%
5,059.70 | | 10,000.00 | | 58.93%
- | | 30,000.00 | | 8.33%
(1,250.00) | | 15,000.00 | | 0.00%
(833.33) | | 10,000.00 | | 0.00%
(125.00) | | 1,500.00 | | 0.00%
(5,000.00) | | 60,000.00 | | 0.00%
(1,666.67) | | 20,000.00 | | 0.00%
(62.50) | | 750.00 | | 0.00%
(833.33) | | 10,000.00 | | 0.00%
(83.33) | | 1,000.00 | | 0.00%
(4.17) | | 50.00 | | 0.00%
(127.46) | | 6,000.00 | | 6.21%
(125.00) | | 1,500.00 | | 0.00%
(163.27) | | 2,500.00 | | 1.80%
(12.50) | | 150.00 | | 0.00%
(100.00) | | 2,700.00 | | 4.63%
(14.58) | | 175.00 | | 0.00%
2,870.00 | | 17,250.00 | | 24.97%
45,214.92 | | 391,390.00 | | 19.89%
93.17 | | 760.00 | | 20.59%
(1,250.00) | | 15,000.00 | | 0.00%
(9,583.33) | | 115,000.00 | | 0.00%
(34,537.52) | | 414,450.00 | | 0.00%
$	(2,334.20) | $ 1,129,975.00 | | 8.13%
$	(2,334.20)		$ | - | |
$	(91,830.38)	$ | - | |
$	1,462.03	$ | - | |
$	1,462.03	$ | - | |
$	(90,368.35)	$ | - | |

Year To Date

Actual	Budget

On-Roll Assessments | $ | -	$	86,637.17
Off-Roll Assessments | | -	27.41
Other Income & Other Financing Sources | | -	7,500.00
Net Revenues | $ | -	$	94,164.58

	  
General & Administrative Expenses

Supervisor Fees | $	600.00 | $	400.00
Trustee Services | 5,893.03 | 833.33
Management | 2,500.00 | 2,500.00
Engineering | - | 1,250.00
Disclosure Agent | - | 833.33
Property Appraiser | - | 125.00
District Counsel | - | 5,000.00
Assessment Administration | - | 1,666.67
Reamortization Schedules | - | 62.50
Audit | - | 833.33
Arbitrage Calculation | - | 83.33
Tax Preparation | - | 4.17
Travel and Per Diem | 372.54 | 500.00
Postage & Shipping | - | 125.00
Legal Advertising | 45.06 | 208.33
Property Taxes | - | 12.50
Web Site Maintenance | 125.00 | 225.00
Dues, Licenses, and Fees | - | 14.58
General Liability Insurance | 4,307.50 | 1,437.50
Property & Casualty | 77,830.75 | 32,615.83
Cyber Liability | 156.50 | 63.33
Contingency | - | 1,250.00
3-Month Reserve | - | 9,583.33
Capex Reserve | - | 34,537.52
Total General & Administrative Expenses | $ | 91,830.38 | | $ | 94,164.58

Total Expenses

Interest Income | $	1,462.03 | | $ | -
Total Other Income (Expense) | $	1,462.03 | | $ | -
Net Income (Loss) | $	(90,368.35) | | $ | -

Income (Loss) from Operations Other Income (Expense)

 $	91,830.38	 $	94,164.58

$	(91,830.38)	$	-

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