Title: Grove Resort CDD November 2026 Financials
Author: montejanor

Grove Resort CDD
November 2025 Financial Package

November 30, 2025

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

| Grove Resort CDD
| Statement of | Financial Position
| As of 11/30/2025
| General Fund | Debt Service Fund | Capital Projects Fund
| Assets
Current Assets |
General Checking Account | $650,526.79
Assessments Receivable | 1,039,614.95
Due From Other Funds | 6,000.00
Assessment Receivable - Off Roll | 185.97
Assessments Receivable | $916,949.48
Debt Service Reserve - Series 2017A | 937,851.79
Debt Service Reserve - Series 2022A | 157,837.13
Revenue - Series 2017A | 305,078.62
Interest - Series 2017A | 33.96
Interest - Series 2022A | 4.90
Prepayment A1 Bond | 1,345.41
Principal - Series 2017A | 25.72
Revenue - Series 2022A | 10,740.28
Assessments Receivable | 155,553.79
Acquisition/Construction - Series 2022A | $9,306.38
Total Current Assets | $1,696,327.71 | $2,485,421.08 | $9,306.38
Investments |
Amount Available in Debt Service Funds |
Amount To Be Provided |
Total Investments | $0.00 | $0.00 | $0.00
Total Assets | $1,696,327.71 | $2,485,421.08 | $9,306.38
| Liabilities and Net Assets
Current Liabilities |
Accounts Payable | $37,738.83
Due To Other Funds | 101,161.03
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 | $1,178,700.78 | $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 | $1,178,700.78 | $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 Government | (10,248.87)
Fund Balance Nonspendable Prepaid | 89,524.00
Net Assets, Unrestricted | $2,057,429.31
Current Year Net Assets, Unrestricted | (648,324.90)
Net Assets, Unrestricted | $8,277.83
Current Year Net Assets, Unrestricted | 1,028.55
Total Net Assets | $517,626.93 | $1,409,104.41 | $9,306.38
Total Liabilities and Net Assets | $1,696,327.71 | $2,485,421.08 | $9,306.38

 
General Long Term Debt | | Total

$0.00

$1,412,917.81 12,512,082.19
$13,925,000.00

$13,925,000.00

$650,526.79 1,039,614.95
6,000.00
185.97
916,949.48
937,851.79
157,837.13
305,078.62
33.96
4.90
1,345.41
25.72
10,740.28
155,553.79
9,306.38
$4,191,055.17

$1,412,917.81 12,512,082.19
$13,925,000.00

$18,116,055.17

$0.00 $13,925,000.00 $13,925,000.00 $13,925,000.00 | | $37,738.83 101,161.03 1,039,614.95 185.97 6,000.00 914,762.88 155,553.79 $2,255,017.45 $13,925,000.00 $13,925,000.00 $16,180,017.45
$0.00 $13,925,000.00 | | ($239,344.16) 677,695.96 (10,248.87) 89,524.00 2,057,429.31 (648,324.90) 8,277.83 1,028.55 $1,936,037.72 $18,116,055.17

Grove Resort CDD Statement of Activities As of 11/30/2025

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments | $102,229.12 | | | $102,229.12
Other Income & Other Financing Sources | 4,608.60 | | | 4,608.60
Inter-Fund Group Transfers In | | ($1,000.70) | | (1,000.70)
Inter-Fund Transfers In | | | $1,000.70 | 1,000.70

Total Revenues

Expenses

Supervisor Fees Trustee Services Management Engineering District Counsel
Assessment Administration Travel and Per Diem Postage & Shipping
Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees General Liability Insurance Property & Casualty
Cyber Liability
Principal Payments - Series 2017A Interest Payments - Series 2017A

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

$106,837.72 | | ($1,000.70) | | $1,000.70 | | $0.00
$1,200.00 | | | | | |
5,893.03 | | | | | |
5,000.00 | | | | | |
313.80 | | | | | |
4,240.00 | | | | | |
20,000.00 | | | | | |
529.67 | | | | | |
0.74 | | | | | |
83.69 | | | | | |
250.00 | | | | | |
175.00 | | | | | |
4,307.50 | | | | | |
77,830.75 | | | | | |
156.50 | | | | | |
| | $270,000.00 | | | |
| | 383,864.37 | | | |
$119,980.68 | | $653,864.37 | | $0.00 | | $0.00
$2,894.09 | | $6,540.17 | | $27.85 | |
$2,894.09 | | $6,540.17 | | $27.85 | | $0.00
($10,248.87) | | ($648,324.90) | | $1,028.55 | | $0.00
$527,875.80 | | $2,057,429.31 | | $8,277.83 | | $0.00
$517,626.93 | | $1,409,104.41 | | $9,306.38 | | $0.00

$106,837.72

$1,200.00 5,893.03
5,000.00
313.80
4,240.00
20,000.00
529.67
0.74
83.69
250.00
175.00
4,307.50
77,830.75
156.50
270,000.00
383,864.37

$773,845.05

$2,894.09 6,540.17
27.85

$9,462.11 ($657,545.22)
$2,593,582.94

$1,936,037.72

Grove Resort CDD
Budget to Actual
For The Month Ending 11/30/2025
Year To Date
| | Actual | | Budget | | Variance | Adopted Budget | Percentage
Revenues | | | | | | | |
On-Roll Assessments | $ | 102,229.12 | | $ | 173,274.34 | | $ | (71,045.22) | $1,039,646.09 | 9.83%
Off-Roll Assessments | | - | | | 54.82 | | | (54.82) | 328.91 | 0.00%
Other Income & Other Financing Sources | | 4,608.60 | | | 15,000.00 | | | (10,391.40) | 90,000.00 | 5.12%
Net Revenues | $ | 106,837.72 | | $ | 188,329.16 | | $ | (81,491.44) | $1,129,975.00 | 0.00%
General & Administrative Expenses | | | | | | | |
Supervisor Fees | $ | 1,200.00 | | $ | 800.00 | | $ | 400.00 | $	4,800.00 | 25.00%
Trustee Services | | 5,893.03 | | | 1,666.66 | | | 4,226.37 | 10,000.00 | 58.93%
Management | | 5,000.00 | | | 5,000.00 | | | - | 30,000.00 | 16.67%
Engineering | | 313.80 | | | 2,500.00 | | | (2,186.20) | 15,000.00 | 2.09%
Disclosure Agent | | - | | | 1,666.66 | | | (1,666.66) | 10,000.00 | 0.00%
Property Appraiser | | - | | | 250.00 | | | (250.00) | 1,500.00 | 0.00%
District Counsel | | 4,240.00 | | | 10,000.00 | | | (5,760.00) | 60,000.00 | 7.07%
Assessment Administration | | 20,000.00 | | | 3,333.34 | | | 16,666.66 | 20,000.00 | 100.00%
Reamortization Schedules | | - | | | 125.00 | | | (125.00) | 750.00 | 0.00%
Audit | | - | | | 1,666.66 | | | (1,666.66) | 10,000.00 | 0.00%
Arbitrage Calculation | | - | | | 166.66 | | | (166.66) | 1,000.00 | 0.00%
Tax Preparation | | - | | | 8.34 | | | (8.34) | 50.00 | 0.00%
Travel and Per Diem | | 529.67 | | | 1,000.00 | | | (470.33) | 6,000.00 | 8.83%
Postage & Shipping | | 0.74 | | | 250.00 | | | (249.26) | 1,500.00 | 0.05%
Legal Advertising | | 83.69 | | | 416.66 | | | (332.97) | 2,500.00 | 3.35%
Property Taxes | | - | | | 25.00 | | | (25.00) | 150.00 | 0.00%
Web Site Maintenance | | 250.00 | | | 450.00 | | | (200.00) | 2,700.00 | 9.26%
Dues, Licenses, and Fees | | 175.00 | | | 29.16 | | | 145.84 | 175.00 | 100.00%
General Liability Insurance | | 4,307.50 | | | 2,875.00 | | | 1,432.50 | 17,250.00 | 24.97%
Property & Casualty | | 77,830.75 | | | 65,231.66 | | | 12,599.09 | 391,390.00 | 19.89%
Cyber Liability | | 156.50 | | | 126.66 | | | 29.84 | 760.00 | 20.59%
Contingency | | - | | | 2,500.00 | | | (2,500.00) | 15,000.00 | 0.00%
3-Month Reserve | | - | | | 19,166.66 | | | (19,166.66) | 115,000.00 | 0.00%
Capex Reserve | | - | | | 69,075.04 | | | (69,075.04) | 414,450.00 | 0.00%
Total General & Administrative Expenses | $ | 119,980.68 | | $ | 188,329.16 | | $ | (68,348.48) | $1,129,975.00 | 10.62%
Total Expenses | $ | 119,980.68 | | $ | 188,329.16 | | $ | (68,348.48) | $	- |
Income (Loss) from Operations | $ | (13,142.96) | | $ | - | | $ | (13,142.96) | $	- |
Other Income (Expense) | | | | | | | |
Interest Income | $ | 2,894.09 | | $ | - | | $ | 2,894.09
Total Other Income (Expense) | $ | 2,894.09 | | $ | - | | $ | 2,894.09
Net Income (Loss) | $ | (10,248.87) | | $ | - | | $ | (10,248.87)

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