Everest GMR CDD
June 2025 Financial Report

June 30, 2025

PFM Group Consulting LLC
3501 Quadrangle Blvd., Suite 270
Orlando, Florida 32817
Tel: 407-723-5900

Statement of Financial Position As of 6/30/2025

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

	Assets		
Current Assets			
General Checking Account	$	2,403.17						$	2,403.17	
Accounts Receivable - Due from Developer	14,938.09						14,938.09	
Prepaid Expenses	3,569.22						3,569.22	
Debt Service Reserve S2023 Bond		$  2,831,020.00					2,831,020.00	
Revenue S2023 Bond		30,858.20					30,858.20	
Capitalized Interest Account S2023 Bond		1,575.97					1,575.97	
Acquisition/Construction S2023 Bond	
			$  4,942,694.82			4,942,694.82	
Total Current Assets	$	20,910.48	$  2,863,454.17		$  4,942,694.82		$	-	$  7,827,059.47	

Investments
Amount Available in Debt Service Funds	$  2,863,454.17		$  2,863,454.17	
Amount To Be Provided	35,201,545.83		35,201,545.83	
Total Investments	$	-	$	-	$	-	$ 38,065,000.00		$ 38,065,000.00	

Total Assets	$	20,910.48	$  2,863,454.17	$  4,942,694.82	$ 38,065,000.00	$ 45,892,059.47

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	14,938.09	$	14,938.09
Deferred Revenue	14,938.09	14,938.09
Accounts Payable	$	4,865.00	4,865.00
Retainage Payable	962,332.52	962,332.52

Total Current Liabilities	$	29,876.18	$	-	$	967,197.52	$	-	$	997,073.70

Long Term Liabilities
Revenue Bonds Payable - Long-Term	$ 38,065,000.00		$ 38,065,000.00	
Total Long Term Liabilities	$	-	$	-	$	-	$ 38,065,000.00		$ 38,065,000.00	

Total Liabilities	$	29,876.18		$	-		$	967,197.52		$ 38,065,000.00		$ 39,062,073.70	

Net Assets
Net Assets - General Government	

$	2,776.15								

$	2,776.15	
Current Year Net Assets - General Government	(11,741.85)								(11,741.85)	
Net Assets, Unrestricted			$  4,460,717.78						4,460,717.78	
Current Year Net Assets, Unrestricted			(1,597,263.61)						(1,597,263.61)	
Net Assets, Unrestricted					$  8,000,332.52				8,000,332.52	
Current Year Net Assets, Unrestricted					(4,024,835.22)				(4,024,835.22)	
Total Net Assets	$	(8,965.70)		$  2,863,454.17		$  3,975,497.30		$	-		$  6,829,985.77	
										
Total Liabilities and Net Assets	$	20,910.48		$  2,863,454.17		$  4,942,694.82		$ 38,065,000.00		$ 45,892,059.47	

Statement of Activities As of 6/30/2025

General Fund	Debt Service Fund

Capital Fund	Long Term Debt

Total

Revenues

Developer Contributions	$	54,822.31				$	54,822.31	
Other Income & Other Financing Sources	30.00				30.00	
Other Income & Other Financing Sources			$  1,146,540.90		1,146,540.90	
Total Revenues	$	54,852.31		$  1,146,540.90		  
$	-	$	-	$	1,201,393.21	

Expenses

Supervisor Fees	$	200.00						$	200.00	
Public Officials' Insurance	2,617.00						2,617.00	
Trustee Services	8,566.13						8,566.13	
Management	20,625.03						20,625.03	
Disclosure	2,500.00						2,500.00	
District Counsel	15,414.17						15,414.17	
Audit	5,700.00						5,700.00	
Travel and Per Diem	293.51						293.51	
Postage & Shipping	102.16						102.16	
Legal Advertising	1,568.68						1,568.68	
Miscellaneous	1,000.00						1,000.00	
Web Site Maintenance	2,040.00						2,040.00	
Dues, Licenses, and Fees	175.00						175.00	
General Insurance	5,867.00						5,867.00	
Principal Payments - FY 2023			$	455,000.00				455,000.00	
Interest Payments - FY23 bond			2,388,240.00				2,388,240.00	
District Counsel					$	4,865.00		4,865.00	
District Counsel - Eminent Domain					67,652.50		67,652.50	
Capital Expenditures - Construction Cost					4,164,325.41		4,164,325.41	
Electric					2,812.60		2,812.60	
Total Expenses	$	66,668.68		$  2,843,240.00		$  4,239,655.51		 
$	-	$	7,149,564.19	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	74.52						$	74.52	
Interest Income			$	99,435.49				99,435.49	
Interest Income					$	214,820.29		214,820.29	
Total Other Revenues (Expenses) & Gains (Losses)	$	74.52		$	99,435.49		$	214,820.29		 
$	-	$	314,330.30	
Change In Net Assets	$  (11,741.85)		$ (1,597,263.61)		$ (4,024,835.22)		$	-	$  (5,633,840.68)	

Net Assets At Beginning Of Year	$	2,776.15		$  4,460,717.78		$  8,000,332.52		$	-	$ 12,463,826.45	

Net Assets At End Of Year	

$	(8,965.70)		

$  2,863,454.17		

$  3,975,497.30		 

$	-	$	6,829,985.77	

Everest GMR CDD
Budget to Actual
For the Month Ending 6/30/2025

Year To Date

Actual	Budget	Variance

FY 2025	Percentage Adopted Budget		Spent

Revenues

Developer Contributions	$	54,822.31		$ 132,926.22		$ (78,103.91)		$	177,235.00		30.93%	
Other Income & Other Financing Sources	30.00		-		30.00		-		0.00%	
Net Revenues	$	54,852.31		$ 132,926.22		$ (78,073.91)		$	177,235.00		30.95%	

General & Administrative Expenses

Supervisor Fees	$	200.00		$	1,500.03		$	(1,300.03)		$	2,000.00		10.00%	
Public Officials' Insurance	2,617.00		2,625.03		(8.03)		3,500.00		74.77%	
Trustee Services	8,566.13		6,450.03		2,116.10		8,600.00		99.61%	
Management	20,625.03		20,625.03		-		27,500.00		75.00%	
Engineering	-		15,000.03		(15,000.03)		20,000.00		0.00%	
Disclosure	2,500.00		3,750.03		(1,250.03)		5,000.00		50.00%	
District Counsel	15,414.17		18,749.97		(3,335.80)		25,000.00		61.66%	
Assessment Administration	-		5,625.00		(5,625.00)		7,500.00		0.00%	
Reamortization Schedule	-		187.47		(187.47)		250.00		0.00%	
Audit	5,700.00		4,500.00		1,200.00		6,000.00		95.00%	
Travel and Per Diem	293.51		375.03		(81.52)		500.00		58.70%	
Telephone	-		74.97		(74.97)		100.00		0.00%	
Postage & Shipping	102.16		112.50		(10.34)		150.00		68.11%	
Copies	-		37.53		(37.53)		50.00		0.00%	
Legal Advertising	1,568.68		1,500.03		68.65		2,000.00		78.43%	
Miscellaneous	1,000.00		2,557.53		(1,557.53)		3,410.00		29.33%	
Hurricane Cleanup	-		2,250.00		(2,250.00)		3,000.00		0.00%	
Web Site Maintenance	2,040.00		2,250.00		(210.00)		3,000.00		68.00%	
Dues, Licenses, and Fees	175.00		131.04		43.96		175.00		100.00%	
Electric	-		4,500.00		(4,500.00)		6,000.00		0.00%	
General Insurance	5,867.00		2,587.50		3,279.50		3,450.00		170.06%	
Irrigation	-		7,499.97		(7,499.97)		10,000.00		0.00%	
Lake Maintenance	-		2,362.50		(2,362.50)		3,150.00		0.00%	
Landscaping Maintenance & Material	-		27,675.00		(27,675.00)		36,900.00		0.00%	
Total General & Administrative Expenses	$	66,668.68		$ 132,926.22		$ (66,257.54)		$	177,235.00		37.62%	
Total Expenses	 $	66,668.68 		 $ 132,926.22 		 $ (66,257.54)		 $	177,235.00 			37.62%	
Income (Loss) from Operations	$	(11,816.37)		$	-		$ (11,816.37)		$	-			

Other Income (Expense)

Interest Income	$	74.52		$	-	$	74.52		$	-	
Total Other Income (Expense)	$	74.52		 
$	-	$	74.52		$	-	
Net Income (Loss)	$	(11,741.85)		 
$	-	$ (11,741.85)		$	-