Everest GMR CDD
February 2026 Financial Report

February 28, 2026

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

Statement of Financial Position As of 2/28/2026

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

	Assets		
Current Assets			
General Checking Account	$	395.86						$	395.86	
Accounts Receivable - Due from Developer	18,679.33						18,679.33	
Due From Other Funds	440.00						440.00	
Debt Service Reserve S2023 Bond		$ 2,831,020.00					2,831,020.00	
Revenue S2023 Bond		36,414.24					36,414.24	
Capitalized Interest Account S2023 Bond		5.78					5.78	
Acquisition/Construction S2023 Bond	
			$ 1,428,350.35			1,428,350.35	
Total Current Assets	$	19,515.19	$ 2,867,440.02		$ 1,428,350.35		$	-	$  4,315,305.56	

Investments
Amount Available in Debt Service Funds	$  2,867,440.02		$  2,867,440.02	
Amount To Be Provided	35,197,559.98		35,197,559.98	
Total Investments	$	-	$	-	$	-	$ 38,065,000.00		$ 38,065,000.00	

Property, Plant & Equipment
Land - American Pet Hospitals	$	410,426.75			$	410,426.75	
Total Property, Plant & Equipment	$	-	$	-	$	410,426.75		$	-	$	410,426.75	

Total Assets	$	19,515.19	$ 2,867,440.02	$ 1,838,777.10	$ 38,065,000.00	$ 42,790,732.31

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	17,635.24					$	17,635.24	
Due To Other Governmental Units	1,200.00					1,200.00	
Deferred Revenue	18,679.33					18,679.33	
Accounts Payable			$ 1,034,479.80			1,034,479.80	
Retainage Payable			1,139,019.48			1,139,019.48	
Due To Other Funds			440.00			440.00	
Total Current Liabilities	$	37,514.57		$	-	$ 2,173,939.28		$	-	$  2,211,453.85	

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	$	37,514.57		$	-		$ 2,173,939.28		$ 38,065,000.00		$ 40,276,453.85	

Net Assets
Net Assets - General Government	

$	(9,961.72)								

$	(9,961.72)	
Current Year Net Assets - General Government	(8,037.66)								(8,037.66)	
Net Assets, Unrestricted			$ 2,903,970.00						2,903,970.00	
Current Year Net Assets, Unrestricted			(36,529.98)						(36,529.98)	
Net Assets, Unrestricted					$  (377,381.64)				(377,381.64)	
Current Year Net Assets, Unrestricted					42,219.46				42,219.46	
Total Net Assets	$	(17,999.38)		$ 2,867,440.02		$  (335,162.18)		$	-		$  2,514,278.46	
										
Total Liabilities and Net Assets	$	19,515.19		$ 2,867,440.02		$ 1,838,777.10		$ 38,065,000.00		$ 42,790,732.31	

Statement of Activities As of 2/28/2026

General Fund	Debt Service Fund

Capital Fund	Long Term Debt

Total

Revenues

Developer Contributions	$	29,509.19						$	29,509.19	
Other Income & Other Financing Sources			$ 1,107,065.00				1,107,065.00	
Developer Contributions					$  410,426.75		410,426.75	
Total Revenues	$	29,509.19		$ 1,107,065.00		$  410,426.75		$	-	$ 1,547,000.94	

Expenses

Public Officials' Insurance	$	2,774.00						$	2,774.00	
Trustee Services	3,569.22						3,569.22	
Management	11,458.35						11,458.35	
Disclosure	1,250.00						1,250.00	
District Counsel	4,545.00						4,545.00	
Audit	1,500.00						1,500.00	
Tax Preparation	14.67						14.67	
Travel and Per Diem	277.13						277.13	
Postage & Shipping	0.74						0.74	
Legal Advertising	1,144.74						1,144.74	
Web Site Maintenance	1,150.00						1,150.00	
Dues, Licenses, and Fees	175.00						175.00	
General Insurance	3,889.00						3,889.00	
Other Insurance	5,938.00						5,938.00	
Interest Payments - FY23 bond			$ 1,180,015.00				1,180,015.00	
Engineering					$	11,027.50		11,027.50	
District Counsel					4,445.00		4,445.00	
District Counsel - Extraordinary					44,345.99		44,345.99	
Capital Expenditures - Construction Cost					330,716.67		330,716.67	
Total Expenses	$	37,685.85		$ 1,180,015.00		$  390,535.16		$	-	$ 1,608,236.01	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	139.00						$	139.00	
Interest Income			$	36,420.02				36,420.02	
Interest Income					$	22,327.87		22,327.87	
Total Other Revenues (Expenses) & Gains (Losses)	$	139.00		$	36,420.02		$	22,327.87		$	-	$	58,886.89	
Change In Net Assets	$	(8,037.66)		$	(36,529.98)		$	42,219.46		$	-	$	(2,348.18)	
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	
$	(17,999.38)		
$ 2,867,440.02		
$ (335,162.18)		 

$	-	$ 2,514,278.46	

Budget to Actual
For the Month Ending 02/28/2026

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

Revenues										
Developer Contributions	$	29,509.19		$	73,847.92		$	(44,338.73)		$ 177,235.00		16.65%	
Net Revenues	$	29,509.19		$	73,847.92		$	(44,338.73)		$ 177,235.00		16.65%	
General & Administrative Expenses										
Public Officials' Insurance	$	2,774.00		$	1,226.67		$	1,547.33		$	2,944.00		94.23%	
Trustee Services	3,569.22		3,569.22		(0.00)		8,566.13		41.67%	
Management	11,458.35		11,458.33		0.02		27,500.00		41.67%	
Engineering	-		8,333.33		(8,333.33)		20,000.00		0.00%	
Disclosure	1,250.00		1,041.67		208.33		2,500.00		50.00%	
District Counsel	4,545.00		10,416.67		(5,871.67)		25,000.00		18.18%	
Assessment Administration	-		3,125.00		(3,125.00)		7,500.00		0.00%	
Reamortization Schedule	-		104.17		(104.17)		250.00		0.00%	
Audit	1,500.00		2,416.67		(916.67)		5,800.00		25.86%	
Travel and Per Diem	277.13		208.33		68.80		500.00		55.43%	
Postage & Shipping	0.74		62.50		(61.76)		150.00		0.49%	
Legal Advertising	1,144.74		1,041.67		103.07		2,500.00		45.79%	
Tax Preparation	14.67		20.83		(6.16)		50.00		29.34%	
Hurricane Cleanup	-		1,250.00		(1,250.00)		3,000.00		0.00%	
Web Site Maintenance	1,150.00		1,350.00		(200.00)		3,240.00		35.49%	
Dues, Licenses, and Fees	175.00		72.92		102.08		175.00		100.00%	
Electric	-		2,500.00		(2,500.00)		6,000.00		0.00%	
General Insurance	3,889.00		1,498.75		2,390.25		3,597.00		108.12%	
Other Insurance	5,938.00		2,812.50		3,125.50		6,750.00		87.97%	
Irrigation	-		4,166.67		(4,166.67)		10,000.00		0.00%	
Lake Maintenance	-		1,312.50		(1,312.50)		3,150.00		0.00%	
Landscaping Maintenance & Material	-		15,375.00		(15,375.00)		36,900.00		0.00%	
Contingency	-		484.53		(484.53)		1,162.87		0.00%	
Total General & Administrative Expenses	$	37,685.85		$	73,847.92		$	(36,162.07)		$ 177,235.00		21.26%	
Total Expenses	 $	37,685.85 		 $	73,847.92 		 $	(36,162.07)		 $ 177,235.00 			21.26%	
Income (Loss) from Operations	$	(8,176.66)		$	-		$	(8,176.66)		$	-			
Other Income (Expense)										
Interest Income	$	139.00		$	-		$	139.00		$	-			
Total Other Income (Expense)	$	139.00		$	-		$	139.00		$	-			
Net Income (Loss)	$	(8,037.66)		$	-		$	(8,037.66)		$	-