Title: Grove Resort CDD December 2026 Financials
Author: montejanor

Grove Resort CDD
December 2025 Financial Package

December 31, 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 12/31/2025
| General Fund | Debt Service Fund | Capital Projects Fund
| Assets
Current Assets |
General Checking Account | $649,612.91
Assessments Receivable | 724,374.15
Assessment Receivable - Off Roll | 185.97
Assessments Receivable (17) | $597,607.11
Due From Other Funds | 2,186.60
Debt Service Reserve - Series 2017A | 931,900.00
Debt Service Reserve - Series 2022A | 157,837.13
Revenue - Series 2017A | 623,761.72
Interest - Series 2017A | 101.73
Interest - Series 2022A | 14.68
Prepayment A1 Bond | 10,068.91
Principal - Series 2017A | 77.23
Revenue - Series 2022A | 10,771.91
Assessments Receivable (22) | 155,553.79
Acquisition/Construction - Series 2022A | $9,799.11
Total Current Assets | $1,374,173.03 | $2,489,880.81 | $9,799.11
Investments |
Amount Available in Debt Service Funds |
Amount To Be Provided |
Total Investments | $0.00 | $0.00 | $0.00
Total Assets | $1,374,173.03 | $2,489,880.81 | $9,799.11
| Liabilities and Net Assets
Current Liabilities |
Accounts Payable | $10,000.74
Due To Other Funds | 2,186.60
Deferred Revenue | 724,374.15
Deferred Revenue - Off Roll | 185.97
Deferred Revenue | $597,607.11
Deferred Revenue | 155,553.79
Total Current Liabilities | $736,747.46 | $753,160.90 | $0.00
Long Term Liabilities |
Revenue Bonds Payable - Long-Term |
Total Long Term Liabilities | $0.00 | $0.00 | $0.00
Total Liabilities | $736,747.46 | $753,160.90 | $0.00
Net Assets |
Net Assets, Unrestricted | ($239,344.16)
Net Assets - General Government | 677,695.96
Current Year Net Assets - General Government | 109,549.77
Fund Balance Nonspendable Prepaid | 89,524.00
Net Assets, Unrestricted | $2,057,429.31
Current Year Net Assets, Unrestricted | (320,709.40)
Net Assets, Unrestricted | $8,277.83
Current Year Net Assets, Unrestricted | 1,521.28
Total Net Assets | $637,425.57 | $1,736,719.91 | $9,799.11
Total Liabilities and Net Assets | $1,374,173.03 | $2,489,880.81 | $9,799.11

 
General Long Term Debt | | Total

$0.00

$1,734,533.31 12,190,466.69
$13,925,000.00

$13,925,000.00

$649,612.91 724,374.15
185.97
597,607.11
2,186.60
931,900.00
157,837.13
623,761.72
101.73
14.68
10,068.91
77.23
10,771.91
155,553.79
9,799.11
$3,873,852.95

$1,734,533.31 12,190,466.69
$13,925,000.00

$17,798,852.95

$0.00

$13,925,000.00
$13,925,000.00

$13,925,000.00

$0.00

$13,925,000.00

$10,000.74 2,186.60
724,374.15
185.97
597,607.11
155,553.79
$1,489,908.36

$13,925,000.00
$13,925,000.00

$15,414,908.36

($239,344.16) 677,695.96
109,549.77
89,524.00
2,057,429.31
(320,709.40)
8,277.83
1,521.28

$2,383,944.59

$17,798,852.95

Grove Resort CDD Statement of Activities As of 12/31/2025

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments | $315,837.56 | | | | | | | | $315,837.56
Other Income & Other Financing Sources | 8,234.20 | | | | | | | | 8,234.20
On-Roll Assessments | | | $323,784.12 | | | | | | 323,784.12
Inter-Fund Group Transfers In | | | (1,466.15) | | | | | | (1,466.15)
Inter-Fund Transfers In | | | | | $1,466.15 | | | | 1,466.15
Total Revenues | $324,071.76 | | $322,317.97 | | $1,466.15 | | $0.00 | | $647,855.88

Expenses

Supervisor Fees | $1,200.00 | | | | | | | | $1,200.00
Trustee Services | 5,893.03 | | | | | | | | 5,893.03
Management | 7,500.00 | | | | | | | | 7,500.00
Engineering | 627.60 | | | | | | | | 627.60
Disclosure Agent | 10,000.00 | | | | | | | | 10,000.00
District Counsel | 7,479.18 | | | | | | | | 7,479.18
Assessment Administration | 20,000.00 | | | | | | | | 20,000.00
Travel and Per Diem | 529.67 | | | | | | | | 529.67
Postage & Shipping | 13.21 | | | | | | | | 13.21
Legal Advertising | 83.69 | | | | | | | | 83.69
Contingency | 887.39 | | | | | | | | 887.39
Web Site Maintenance | 375.00 | | | | | | | | 375.00
Dues, Licenses, and Fees | 175.00 | | | | | | | | 175.00
General Liability Insurance | 8,615.00 | | | | | | | | 8,615.00
Property & Casualty | 155,661.50 | | | | | | | | 155,661.50
Cyber Liability | 313.00 | | | | | | | | 313.00
Principal Payments - Series 2017A | | | $270,000.00 | | | | | | 270,000.00
Interest Payments - Series 2017A | | | 383,864.37 | | | | | | 383,864.37
Total Expenses | $219,353.27 | | $653,864.37 | | $0.00 | | $0.00 | | $873,217.64

Other Revenues (Expenses) & Gains (Losses)

Interest Income | $4,831.28 | | | | | | | | $4,831.28
Interest Income | | | $10,837.00 | | | | | | 10,837.00
Interest Income | | | | | $55.13 | | | | 55.13
Total Other Revenues (Expenses) & Gains (Losses) | $4,831.28 | | $10,837.00 | | $55.13 | | $0.00 | | $15,723.41
Change In Net Assets | $109,549.77 | | ($320,709.40) | | $1,521.28 | | $0.00 | | ($209,638.35)
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 | $637,425.57 | | $1,736,719.91 | | $9,799.11 | | $0.00 | | $2,383,944.59

Grove Resort CDD
Budget to Actual
For The Month Ending 12/31/2025
Year To Date
| | Actual | | Budget | | Variance | Adopted Budget | Percentage
Revenues | | | | | | | |
On-Roll Assessments | $ | 315,837.56 | | $ | 259,911.51 | | $	55,926.05 | $ 1,039,646.09 | 30.38%
Off-Roll Assessments | | - | | | 82.23 | | | (82.23) | 328.91 | 0.00%
Other Income & Other Financing Sources | | 8,234.20 | | | 22,500.00 | | | (14,265.80) | 90,000.00 | 9.15%
Net Revenues | $ | 324,071.76 | | $ | 282,493.74 | | $	41,578.02 | $ 1,129,975.00 | 0.00%
General & Administrative Expenses | | | | | | | |
Supervisor Fees | $ | 1,200.00 | | $ | 1,200.00 | | $ | - | $	4,800.00 | 25.00%
Trustee Services | | 5,893.03 | | | 2,499.99 | | | 3,393.04 | 10,000.00 | 58.93%
Management | | 7,500.00 | | | 7,500.00 | | | - | 30,000.00 | 25.00%
Engineering | | 627.60 | | | 3,750.00 | | | (3,122.40) | 15,000.00 | 4.18%
Disclosure Agent | | 10,000.00 | | | 2,499.99 | | | 7,500.01 | 10,000.00 | 100.00%
Property Appraiser | | - | | | 375.00 | | | (375.00) | 1,500.00 | 0.00%
District Counsel | | 7,479.18 | | | 15,000.00 | | | (7,520.82) | 60,000.00 | 12.47%
Assessment Administration | | 20,000.00 | | | 5,000.01 | | | 14,999.99 | 20,000.00 | 100.00%
Reamortization Schedules | | - | | | 187.50 | | | (187.50) | 750.00 | 0.00%
Audit | | - | | | 2,499.99 | | | (2,499.99) | 10,000.00 | 0.00%
Arbitrage Calculation | | - | | | 249.99 | | | (249.99) | 1,000.00 | 0.00%
Tax Preparation | | - | | | 12.51 | | | (12.51) | 50.00 | 0.00%
Travel and Per Diem | | 529.67 | | | 1,500.00 | | | (970.33) | 6,000.00 | 8.83%
Postage & Shipping | | 13.21 | | | 375.00 | | | (361.79) | 1,500.00 | 0.88%
Legal Advertising | | 83.69 | | | 624.99 | | | (541.30) | 2,500.00 | 3.35%
Property Taxes | | - | | | 37.50 | | | (37.50) | 150.00 | 0.00%
Web Site Maintenance | | 375.00 | | | 675.00 | | | (300.00) | 2,700.00 | 13.89%
Dues, Licenses, and Fees | | 175.00 | | | 43.74 | | | 131.26 | 175.00 | 100.00%
General Liability Insurance | | 8,615.00 | | | 4,312.50 | | | 4,302.50 | 17,250.00 | 49.94%
Property & Casualty | | 155,661.50 | | | 97,847.49 | | | 57,814.01 | 391,390.00 | 39.77%
Cyber Liability | | 313.00 | | | 189.99 | | | 123.01 | 760.00 | 41.18%
Contingency | | 887.39 | | | 3,750.00 | | | (2,862.61) | 15,000.00 | 5.92%
3-Month Reserve | | - | | | 28,749.99 | | | (28,749.99) | 115,000.00 | 0.00%
Capex Reserve | | - | | | 103,612.56 | | | (103,612.56) | 414,450.00 | 0.00%
Total General & Administrative Expenses | $ | 219,353.27 | | $ | 282,493.74 | | $ | (63,140.47) | $ 1,129,975.00 | 19.41%
Total Expenses | $ | 219,353.27 | | $ | 282,493.74 | | $ | (63,140.47) | $ 1,129,975.00 |
Income (Loss) from Operations | $ | 104,718.49 | | $ | - | | $ | 104,718.49 | $	- |
Other Income (Expense) | | | | | | | |
Interest Income | $ | 4,831.28 | | $ | - | | $ | 4,831.28 | $	- |
Total Other Income (Expense) | $ | 4,831.28 | | $ | - | | $ | 4,831.28 | $	- |
Net Income (Loss) | $ | 109,549.77 | | $ | - | | $ | 109,549.77 | $	- |

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