Everest GMR CDD
March 2026 Financial Report

March 31, 2026

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

Statement of Financial Position As of 3/31/2026

General Fund

Debt Service Fund

Capital Fund	Long Term Debt	Total

	Assets		
Current Assets			
General Checking Account	$	352.66						$	352.66	
Accounts Receivable - Due from Developer	29,207.50						29,207.50	
Due From Other Funds	440.00						440.00	
Debt Service Reserve S2023 Bond		$ 2,831,020.00					2,831,020.00	
Revenue S2023 Bond		44,103.50					44,103.50	
Capitalized Interest Account S2023 Bond		5.80					5.80	
Accounts Receivable - Due from Developer				$	3,015.00			3,015.00	
Acquisition/Construction S2023 Bond	
			1,411,361.34			1,411,361.34	
Total Current Assets	$	30,000.16	$ 2,875,129.30		$ 1,414,376.34		$	-	$  4,319,505.80	

Investments
Amount Available in Debt Service Funds	$  2,875,129.30		$  2,875,129.30	
Amount To Be Provided	35,189,870.70		35,189,870.70	
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	$	30,000.16	$ 2,875,129.30	$ 1,824,803.09	$ 38,065,000.00	$ 42,794,932.55

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	29,193.41					$	29,193.41	
Due To Other Governmental Units	1,200.00					1,200.00	
Deferred Revenue	29,207.50					29,207.50	
Accounts Payable			$ 1,035,252.30			1,035,252.30	
Retainage Payable			1,139,019.48			1,139,019.48	
Due To Other Funds			440.00			440.00	
Deferred Revenue			3,015.00			3,015.00	
Total Current Liabilities	$	59,600.91		 
$	-	$ 2,177,726.78		$	
-	$  2,237,327.69	

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	$	59,600.91		$	-		$ 2,177,726.78		$ 38,065,000.00		$ 40,302,327.69	

Net Assets
Net Assets - General Government	

$	(9,961.72)								

$	(9,961.72)	
Current Year Net Assets - General Government	(19,639.03)								(19,639.03)	
Net Assets, Unrestricted			$ 2,903,970.00						2,903,970.00	
Current Year Net Assets, Unrestricted			(28,840.70)						(28,840.70)	
Net Assets, Unrestricted					$  (377,381.64)				(377,381.64)	
Current Year Net Assets, Unrestricted					24,457.95				24,457.95	
Total Net Assets	$	(29,600.75)		$ 2,875,129.30		$  (352,923.69)		$	-		$  2,492,604.86	
										
Total Liabilities and Net Assets	$	30,000.16		$ 2,875,129.30		$ 1,824,803.09		$ 38,065,000.00		$ 42,794,932.55	

Statement of Activities As of 3/31/2026

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	13,750.02								13,750.02	
Disclosure	2,500.00								2,500.00	
District Counsel	8,361.50								8,361.50	
Audit	5,700.00								5,700.00	
Tax Preparation	14.67								14.67	
Travel and Per Diem	277.13								277.13	
Postage & Shipping	0.74								0.74	
Legal Advertising	1,019.16								1,019.16	
Web Site Maintenance	1,320.00								1,320.00	
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					$	12,122.50				12,122.50	
District Counsel					7,647.50				7,647.50	
District Counsel - Extraordinary					61,680.99				61,680.99	
Capital Expenditures - Construction Cost					330,716.67				330,716.67	
Total Expenses	$  49,288.44		$ 1,180,015.00		$  412,167.66		$	-		$ 1,641,471.10	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	140.22						$	140.22	
Interest Income			$	44,109.30				44,109.30	
Interest Income					$	26,198.86		26,198.86	
Total Other Revenues (Expenses) & Gains (Losses)	$	140.22		$	44,109.30		$	26,198.86		$	-	$	70,448.38	
Change In Net Assets	$ (19,639.03)		$	(28,840.70)		$	24,457.95		$	-	$	(24,021.78)	
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	
$ (29,600.75)		
$ 2,875,129.30		
$ (352,923.69)		 

$	-	$ 2,492,604.86	

Budget to Actual
For the Month Ending 03/31/2026

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

Revenues						
Developer Contributions	$	29,509.19	$	88,617.50	$	(59,108.31)	$ 177,235.00	16.65%	
Net Revenues	$	29,509.19		$	88,617.50		$	(59,108.31)		$ 177,235.00		16.65%	
General & Administrative Expenses						
Public Officials' Insurance	$	2,774.00	$	1,472.00	$	1,302.00	$	2,944.00	94.23%	
Trustee Services	3,569.22	4,283.07	(713.84)	8,566.13	41.67%	
Management	13,750.02	13,750.00	0.02	27,500.00	50.00%	
Engineering	-	10,000.00	(10,000.00)	20,000.00	0.00%	
Disclosure	2,500.00	1,250.00	1,250.00	2,500.00	100.00%	
District Counsel	8,361.50	12,500.00	(4,138.50)	25,000.00	33.45%	
Assessment Administration	-	3,750.00	(3,750.00)	7,500.00	0.00%	
Reamortization Schedule	-	125.00	(125.00)	250.00	0.00%	
Audit	5,700.00	2,900.00	2,800.00	5,800.00	98.28%	
Travel and Per Diem	277.13	250.00	27.13	500.00	55.43%	
Postage & Shipping	0.74	75.00	(74.26)	150.00	0.49%	
Legal Advertising	1,019.16	1,250.00	(230.84)	2,500.00	40.77%	
Tax Preparation	14.67	25.00	(10.33)	50.00	29.34%	
Hurricane Cleanup	-	1,500.00	(1,500.00)	3,000.00	0.00%	
Web Site Maintenance	1,320.00	1,620.00	(300.00)	3,240.00	40.74%	
Dues, Licenses, and Fees	175.00	87.50	87.50	175.00	100.00%	
Electric	-	3,000.00	(3,000.00)	6,000.00	0.00%	
General Insurance	3,889.00	1,798.50	2,090.50	3,597.00	108.12%	
Other Insurance	5,938.00	3,375.00	2,563.00	6,750.00	87.97%	
Irrigation	-	5,000.00	(5,000.00)	10,000.00	0.00%	
Lake Maintenance	-	1,575.00	(1,575.00)	3,150.00	0.00%	
Landscaping Maintenance & Material	-	18,450.00	(18,450.00)	36,900.00	0.00%	
Contingency	-	581.44	(581.44)	1,162.87	0.00%	
Total General & Administrative Expenses	$	49,288.44		$	88,617.50		$	(39,329.06)		$	177,235.00		27.81%	
Total Expenses	 $	49,288.44 	 $	88,617.50 	 $	(39,329.06)	 $ 177,235.00 		27.81%	
Income (Loss) from Operations	$	(19,779.25)	$	-	$	(19,779.25)	$	-	
Other Income (Expense)						
Interest Income	$	140.22	$	-	$	140.22	$	-	
Total Other Income (Expense)	$	140.22		$	-		$	140.22		$	-		
Net Income (Loss)	$	(19,639.03)		$	-		$	(19,639.03)		$	-