Everest GMR CDD
July 2025 Financial Report

July 31, 2025

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

Everest GMR CDD
Statement of Financial Position As of 7/31/2025

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

	Assets		
Current Assets			
General Checking Account	$	212.85						$	212.85	
Accounts Receivable - Due from Developer	16,228.09						16,228.09	
Due From Other Funds	440.00						440.00	
Prepaid Expenses	3,569.22						3,569.22	
Debt Service Reserve S2023 Bond		$  2,831,020.00					2,831,020.00	
Revenue S2023 Bond		40,844.56					40,844.56	
Capitalized Interest Account S2023 Bond		1,581.47					1,581.47	
Acquisition/Construction S2023 Bond	
			$  4,833,931.39			4,833,931.39	
Total Current Assets	$	20,450.16	$  2,873,446.03		$  4,833,931.39		$	-	$  7,727,827.58	

Investments
Amount Available in Debt Service Funds	$  2,873,446.03		$  2,873,446.03	
Amount To Be Provided	35,191,553.97		35,191,553.97	
Total Investments	$	-	$	-	$	-	$ 38,065,000.00		$ 38,065,000.00	

Total Assets	$	20,450.16	$  2,873,446.03	$  4,833,931.39	$ 38,065,000.00	$ 45,792,827.58

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	16,249.40					$	16,249.40	
Deferred Revenue	16,228.09					16,228.09	
Accounts Payable			$  1,161,561.84			1,161,561.84	
Retainage Payable			973,380.66			973,380.66	
Due To Other Funds			440.00			440.00	
Total Current Liabilities	$	32,477.49		$	-	$  2,135,382.50		$	-	$  2,167,859.99	

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	$	32,477.49		$	-		$  2,135,382.50		$ 38,065,000.00		$ 40,232,859.99	

Net Assets
Net Assets - General Government	

$	2,776.15								

$	2,776.15	
Current Year Net Assets - General Government	(14,803.48)								(14,803.48)	
Net Assets, Unrestricted			$  4,460,717.78						4,460,717.78	
Current Year Net Assets, Unrestricted			(1,587,271.75)						(1,587,271.75)	
Net Assets, Unrestricted					$  8,000,332.52				8,000,332.52	
Current Year Net Assets, Unrestricted					(5,301,783.63)				(5,301,783.63)	
Total Net Assets	$	(12,027.33)		$  2,873,446.03		$  2,698,548.89		$	-		$  5,559,967.59	
										
Total Liabilities and Net Assets	$	20,450.16		$  2,873,446.03		$  4,833,931.39		$ 38,065,000.00		$ 45,792,827.58	

	Everest GMR CDD							
	Statement of Activities							
	As of 7/31/2025							
	
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	3,750.00						3,750.00	
District Counsel	16,769.67						16,769.67	
Audit	5,700.00						5,700.00	
Travel and Per Diem	293.51						293.51	
Postage & Shipping	102.85						102.85	
Legal Advertising	1,568.68						1,568.68	
Miscellaneous	1,000.00						1,000.00	
Web Site Maintenance	2,500.00						2,500.00	
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			$	34,915.85				34,915.85	
District Counsel - Extraordinary			67,652.50				67,652.50	
Legal Cost - Eminent Domain			763,808.00				763,808.00	
Capital Expenditures - Construction Cost			4,481,428.01				4,481,428.01	
Electric			2,812.60				2,812.60	
Drainage Fee					183,414.30				183,414.30	
Total Expenses	$  69,734.87		$  2,843,240.00		$  5,534,031.26		$	-		$	8,447,006.13	
Other Revenues (Expenses) & Gains (Losses)								
Interest Income	$	79.08						$	79.08	
Interest Income	$	109,427.35						109,427.35	
Interest Income					$	232,247.63				232,247.63	
Total Other Revenues (Expenses) & Gains (Losses)	$	79.08		$	109,427.35		$	232,247.63		$	-		$	341,754.06	
Change In Net Assets	$ (14,803.48)		$ (1,587,271.75)		$ (5,301,783.63)		$	-		$  (6,903,858.86)	

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	

$ (12,027.33)		

$  2,873,446.03		

$  2,698,548.89		

$	-		

$	5,559,967.59	

Everest GMR CDD
Budget to Actual
For the Month Ending 7/31/2025

YTD Actual	YTD Budget	YTD Variance

FY 2025	Percentage Adopted Budget		Spent

Revenues

Developer Contributions	$	54,822.31		$  147,695.80		$	(92,873.49)		$	177,235.00		30.93%	
Other Income & Other Financing Sources	30.00		-		30.00		-		0.00%	
Net Revenues	$	54,852.31		$  147,695.80		$	(92,843.49)		$	177,235.00		30.95%	

General & Administrative Expenses

Supervisor Fees	$	200.00		$	1,666.70		$	(1,466.70)		$	2,000.00		10.00%	
Public Officials' Insurance	2,617.00		2,916.70		(299.70)		3,500.00		74.77%	
Trustee Services	8,566.13		7,166.70		1,399.43		8,600.00		99.61%	
Management	20,625.03		22,916.70		(2,291.67)		27,500.00		75.00%	
Engineering	-		16,666.70		(16,666.70)		20,000.00		0.00%	
Disclosure	3,750.00		4,166.70		(416.70)		5,000.00		75.00%	
District Counsel	16,769.67		20,833.30		(4,063.63)		25,000.00		67.08%	
Assessment Administration	-		6,250.00		(6,250.00)		7,500.00		0.00%	
Reamortization Schedule	-		208.30		(208.30)		250.00		0.00%	
Audit	5,700.00		5,000.00		700.00		6,000.00		95.00%	
Travel and Per Diem	293.51		416.70		(123.19)		500.00		58.70%	
Telephone	-		83.30		(83.30)		100.00		0.00%	
Postage & Shipping	102.85		125.00		(22.15)		150.00		68.57%	
Copies	-		41.70		(41.70)		50.00		0.00%	
Legal Advertising	1,568.68		1,666.70		(98.02)		2,000.00		78.43%	
Miscellaneous	1,000.00		2,841.50		(1,841.50)		3,410.00		29.33%	
Hurricane Cleanup	-		2,500.00		(2,500.00)		3,000.00		0.00%	
Web Site Maintenance	2,500.00		2,500.00		-		3,000.00		83.33%	
Dues, Licenses, and Fees	175.00		145.80		29.20		175.00		100.00%	
Electric	-		5,000.00		(5,000.00)		6,000.00		0.00%	
General Insurance	5,867.00		2,875.00		2,992.00		3,450.00		170.06%	
Irrigation	-		8,333.30		(8,333.30)		10,000.00		0.00%	
Lake Maintenance	-		2,625.00		(2,625.00)		3,150.00		0.00%	
Landscaping Maintenance & Material	-		30,750.00		(30,750.00)		36,900.00		0.00%	
Total General & Administrative Expenses	$	69,734.87		$  147,695.80		$	(77,960.93)		$	177,235.00		39.35%	
Total Expenses	 $	69,734.87 		 $  147,695.80 		 $	(77,960.93)		 $	177,235.00 			39.35%	
Income (Loss) from Operations	$  (14,882.56)		$	-		$	(14,882.56)		$	-			

Other Income (Expense)

Interest Income	$	79.08		$	-	$	79.08		$	-	
Total Other Income (Expense)	$	79.08		 
$	-	$	79.08		$	-	
Net Income (Loss)	$  (14,803.48)		 
$	-	$	(14,803.48)		$	-