Everest GMR CDD
December 2025 Financial Report

December 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 12/31/2025

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

	Assets		
Current Assets
General Checking Account	
$	119.50						
$	119.50	
Accounts Receivable - Due from Developer	14,978.14						14,978.14	
Due From Other Funds	440.00						440.00	
Debt Service Reserve S2023 Bond		$ 2,831,020.00					2,831,020.00	
Revenue S2023 Bond		19,267.95					19,267.95	
Capitalized Interest Account S2023 Bond		5.74					5.74	
Acquisition/Construction S2023 Bond	
			$ 1,460,491.95			1,460,491.95	
Total Current Assets	$	15,537.64	$ 2,850,293.69		$ 1,460,491.95		$	-	$  4,326,323.28	

Investments
Amount Available in Debt Service Funds	$  2,850,293.69		$  2,850,293.69	
Amount To Be Provided	35,214,706.31		35,214,706.31	
Total Investments	$	-	$	-	$	-	$ 38,065,000.00		$ 38,065,000.00	

Total Assets	$	15,537.64	$ 2,850,293.69	$ 1,460,491.95	$ 38,065,000.00	$ 42,391,323.28

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	14,978.14					$	14,978.14	
Deferred Revenue	14,978.14					14,978.14	
Accounts Payable			$ 1,032,237.30			1,032,237.30	
Retainage Payable			1,139,019.48			1,139,019.48	
Due To Other Funds			440.00			440.00	
Total Current Liabilities	$	29,956.28		$	-	$ 2,171,696.78		$	-	$  2,201,653.06	

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	$	29,956.28	$	-	$ 2,171,696.78	$ 38,065,000.00	$ 40,266,653.06

Net Assets
Net Assets - General Government	$	(9,961.72)								$	(9,961.72)	
Current Year Net Assets - General Government	(4,456.92)								(4,456.92)	
Net Assets, Unrestricted			$ 2,903,970.00						2,903,970.00	
Current Year Net Assets, Unrestricted			(53,676.31)						(53,676.31)	
Net Assets, Unrestricted					$  (377,381.64)				(377,381.64)	
Current Year Net Assets, Unrestricted					(333,823.19)				(333,823.19)	
Total Net Assets	$	(14,418.64)		$ 2,850,293.69		$  (711,204.83)		$	-		$  2,124,670.22	
										
Total Liabilities and Net Assets	$	15,537.64		$ 2,850,293.69		$ 1,460,491.95		$ 38,065,000.00		$ 42,391,323.28	

Everest GMR CDD Statement of Activities As of 12/31/2025

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

Revenues

Developer Contributions	$	15,042.83					$	15,042.83	
Other Income & Other Financing Sources			$ 1,107,065.00			1,107,065.00	
Total Revenues	$	15,042.83		$ 1,107,065.00		$	 
-	$	-	$ 1,122,107.83	

Expenses

Trustee Services	$	3,569.22						$	3,569.22	
Management	2,291.67						2,291.67	
Travel and Per Diem	132.87						132.87	
Postage & Shipping	0.74						0.74	
Legal Advertising	407.80						407.80	
Web Site Maintenance	340.00						340.00	
Dues, Licenses, and Fees	175.00						175.00	
General Insurance	12,601.00						12,601.00	
Interest Payments - FY23 bond			$ 1,180,015.00				1,180,015.00	
Engineering					$	6,125.00		6,125.00	
District Counsel - Extraordinary					10,000.00		10,000.00	
Capital Expenditures - Construction Cost					330,716.67		330,716.67	
Total Expenses	$	19,518.30		$ 1,180,015.00		$	346,841.67		
$	-	$ 1,546,374.97	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	18.55						$	18.55	
Interest Income			$	19,273.69				19,273.69	
Interest Income					$	13,018.48		13,018.48	
Total Other Revenues (Expenses) & Gains (Losses)	$	18.55		$	19,273.69		$	13,018.48		
$	-	$	32,310.72	
Change In Net Assets	$	(4,456.92)		$	(53,676.31)		$	(333,823.19)		$	-	$  (391,956.42)	

Net Assets At Beginning Of Year	$	(9,961.72)		$ 2,903,970.00		$	(377,381.64)		$	-	$ 2,516,626.64	

Net Assets At End Of Year	

$	(14,418.64)		

$ 2,850,293.69		

$	(711,204.83)		

$	-	$ 2,124,670.22	

Everest GMR CDD
Budget to Actual
For the Month Ending 12/31/2025

	
YTD Actual		
YTD Budget		
YTD Variance		FY 2026
Adopted Budget		Percentage Spent	

Revenues										
Developer Contributions	$	15,042.83		$	44,308.75		$	(29,265.92)		$ 177,235.00		8.49%	
Net Revenues	$	15,042.83		$	44,308.75		$	(29,265.92)		$ 177,235.00		8.49%	
General & Administrative Expenses										
Public Officials' Insurance	$	-		$	736.00		$	(736.00)		$	2,944.00		0.00%	
Trustee Services	3,569.22		2,141.53		1,427.69		8,566.13		41.67%	
Management	2,291.67		6,875.00		(4,583.33)		27,500.00		8.33%	
Engineering	-		5,000.00		(5,000.00)		20,000.00		0.00%	
Disclosure	-		625.00		(625.00)		2,500.00		0.00%	
District Counsel	-		6,250.00		(6,250.00)		25,000.00		0.00%	
Assessment Administration	-		1,875.00		(1,875.00)		7,500.00		0.00%	
Reamortization Schedule	-		62.50		(62.50)		250.00		0.00%	
Audit	-		1,450.00		(1,450.00)		5,800.00		0.00%	
Travel and Per Diem	132.87		125.00		7.87		500.00		26.57%	
Postage & Shipping	0.74		37.50		(36.76)		150.00		0.49%	
Legal Advertising	407.80		625.00		(217.20)		2,500.00		16.31%	
Tax Preparation	-		12.50		(12.50)		50.00		0.00%	
Hurricane Cleanup	-		750.00		(750.00)		3,000.00		0.00%	
Web Site Maintenance	340.00		810.00		(470.00)		3,240.00		10.49%	
Dues, Licenses, and Fees	175.00		43.75		131.25		175.00		100.00%	
Electric	-		1,500.00		(1,500.00)		6,000.00		0.00%	
General Insurance	12,601.00		899.25		11,701.75		3,597.00		350.32%	
Other Insurance	-		1,687.50		(1,687.50)		6,750.00		0.00%	
Irrigation	-		2,500.00		(2,500.00)		10,000.00		0.00%	
Lake Maintenance	-		787.50		(787.50)		3,150.00		0.00%	
Landscaping Maintenance & Material	-		9,225.00		(9,225.00)		36,900.00		0.00%	
Contingency	-		290.72		(290.72)		1,162.87		0.00%	
Total General & Administrative Expenses	$	19,518.30		$	44,308.75		$	(24,790.45)		$ 177,235.00		11.01%	
Total Expenses	 $	19,518.30 		 $	44,308.75 		 $	(24,790.45)		 $ 177,235.00 			11.01%	
Income (Loss) from Operations	$	(4,475.47)		$	-		$	(4,475.47)		$	-			
Other Income (Expense)										
Interest Income	$	18.55		$	-		$	18.55		$	-			
Total Other Income (Expense)	$	18.55		$	-		$	18.55		$	-			
Net Income (Loss)	$	(4,456.92)		$	-		$	(4,456.92)		$	-