Everest GMR CDD
June 2026 Financial Report

June 30, 2026

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

Everest GMR CDD
Statement of Financial Position As of 6/30/2026	

General Fund	
Debt Service Fund		

Capital Fund		

Long Term Debt			

Total	
		
Assets											
Current Assets										
General Checking Account	$	1,453.37							$	1,453.37	
Accounts Receivable - Due from Developer	37,125.63								37,125.63	
Prepaid Expenses	3,569.22								3,569.22	
Debt Service Reserve S2023 Bond		$ 2,831,020.00							2,831,020.00	
Revenue S2023 Bond		17,181.15							17,181.15	
Capitalized Interest Account S2023 Bond		5.86							5.86	
Due From Other Funds				$	157.50					157.50	
Acquisition/Construction S2023 Bond	
			1,400,466.08					1,400,466.08	
Total Current Assets	$	42,148.22	$ 2,848,207.01		$ 1,400,623.58		$	-		$	4,290,978.81	

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments								

$  2,848,207.01		

$	

2,848,207.01	
								34,731,792.99			34,731,792.99	
	$	-	$	-		$	-		$ 37,580,000.00		$	37,580,000.00	

Property, Plant & Equipment
Land - American Pet Hospitals Total Property, Plant & Equipment					

$	410,426.75				

$	

410,426.75	
	$	-	$	-		$	410,426.75		$	-		$	410,426.75	
Total Assets	$	42,148.22	$ 2,848,207.01		$ 1,811,050.33		$ 37,580,000.00		$	42,281,405.56	

Liabilities and Net Assets	
Current Liabilities										
Accounts Payable	$	38,941.00							$	38,941.00	
Due To Other Funds	157.50								157.50	
Deferred Revenue	37,125.63								37,125.63	
Accounts Payable				$ 1,035,252.30					1,035,252.30	
Retainage Payable	
			1,139,019.48					1,139,019.48	
Total Current Liabilities	$	76,224.13	$	-		$ 2,174,271.78		$	-		$	2,250,495.91	

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities								

$ 37,580,000.00		

$	

37,580,000.00	
	$	-	$	-		$	-		$ 37,580,000.00		$	37,580,000.00	
Total Liabilities	$	76,224.13	$	-		$ 2,174,271.78		$ 37,580,000.00		$	39,830,495.91	

Net Assets											
Net Assets - General Government	$	(9,961.72)							$	(9,961.72)	
Current Year Net Assets - General Government		(24,114.19)								(24,114.19)	
Net Assets, Unrestricted			$ 2,903,970.00							2,903,970.00	
Current Year Net Assets, Unrestricted			(55,762.99)							(55,762.99)	
Net Assets, Unrestricted					$  (377,381.64)					(377,381.64)	
Current Year Net Assets, Unrestricted					14,160.19					14,160.19	
Total Net Assets	$	(34,075.91)	$ 2,848,207.01		$	(363,221.45)		$	-		$	2,450,909.65	

Total Liabilities and Net Assets

$	42,148.22

$ 2,848,207.01	$ 1,811,050.33	$ 37,580,000.00	$ 42,281,405.56

Everest GMR CDD Statement of Activities As of 6/30/2026

General Fund	Debt Service Fund

Capital Fund	Long Term Debt

Total

Revenues

Developer Contributions	$	48,742.43						$	48,742.43	
Other Income & Other Financing Sources			$ 2,719,440.40				2,719,440.40	
Developer Contributions					$  410,426.75		410,426.75	
Total Revenues	$	48,742.43		$ 2,719,440.40		$  410,426.75		$	-	$ 3,178,609.58	

Expenses

Public Officials' Insurance	$	2,774.00						$	2,774.00	
Trustee Services	8,566.13						8,566.13	
Management	20,625.03						20,625.03	
Disclosure	3,750.00						3,750.00	
District Counsel	17,779.65						17,779.65	
Audit	5,700.00						5,700.00	
Tax Preparation	14.67						14.67	
Travel and Per Diem	413.52						413.52	
Postage & Shipping	84.66						84.66	
Legal Advertising	1,172.52						1,172.52	
Web Site Maintenance	2,130.00						2,130.00	
Dues, Licenses, and Fees	175.00						175.00	
General Insurance	3,889.00						3,889.00	
Other Insurance	5,938.00						5,938.00	
Principal Payments - FY23 Bond			$	485,000.00				485,000.00	
Interest Payments - FY23 Bond			2,360,030.00				2,360,030.00	
Engineering					$	14,490.00		14,490.00	
District Counsel					10,833.00		10,833.00	
District Counsel - Extraordinary					78,905.02		78,905.02	
Capital Expenditures - Construction Cost					330,716.67		330,716.67	
Total Expenses	$	73,012.18		$ 2,845,030.00		$  434,944.69		$	-	$ 3,352,986.87	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	155.56						$	155.56	
Interest Income			$	69,826.61				69,826.61	
Interest Income					$	38,678.13		38,678.13	
Total Other Revenues (Expenses) & Gains (Losses)	$	155.56		$	69,826.61		$	38,678.13		$	-	$	108,660.30	
Change In Net Assets	$	(24,114.19)		$	(55,762.99)		$	14,160.19		$	-	$	(65,716.99)	
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	
$	(34,075.91)		
$ 2,848,207.01		
$ (363,221.45)		

$	-	$ 2,450,909.65	

Everest GMR CDD
Budget to Actual
For the Month Ending 06/30/2026

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

Revenues										
Developer Contributions	$	48,742.43		$	132,926.25		$	(84,183.82)		$ 177,235.00		27.50%	
Net Revenues	$	48,742.43		$	132,926.25		$	(84,183.82)		$ 177,235.00		27.50%	
General & Administrative Expenses										
Public Officials' Insurance	$	2,774.00		$	2,208.00		$	566.00		$	2,944.00		94.23%	
Trustee Services	8,566.13		6,424.60		2,141.53		8,566.13		100.00%	
Management	20,625.03		20,625.00		0.03		27,500.00		75.00%	
Engineering	-		15,000.00		(15,000.00)		20,000.00		0.00%	
Disclosure	3,750.00		1,875.00		1,875.00		2,500.00		150.00%	
District Counsel	17,779.65		18,750.00		(970.35)		25,000.00		71.12%	
Assessment Administration	-		5,625.00		(5,625.00)		7,500.00		0.00%	
Reamortization Schedule	-		187.50		(187.50)		250.00		0.00%	
Audit	5,700.00		4,350.00		1,350.00		5,800.00		98.28%	
Travel and Per Diem	413.52		375.00		38.52		500.00		82.70%	
Postage & Shipping	84.66		112.50		(27.84)		150.00		56.44%	
Legal Advertising	1,172.52		1,875.00		(702.48)		2,500.00		46.90%	
Tax Preparation	14.67		37.50		(22.83)		50.00		29.34%	
Hurricane Cleanup	-		2,250.00		(2,250.00)		3,000.00		0.00%	
Web Site Maintenance	2,130.00		2,430.00		(300.00)		3,240.00		65.74%	
Dues, Licenses, and Fees	175.00		131.25		43.75		175.00		100.00%	
Electric	-		4,500.00		(4,500.00)		6,000.00		0.00%	
General Insurance	3,889.00		2,697.75		1,191.25		3,597.00		108.12%	
Other Insurance	5,938.00		5,062.50		875.50		6,750.00		87.97%	
Irrigation	-		7,500.00		(7,500.00)		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%	
Contingency	-		872.15		(872.15)		1,162.87		0.00%	
Total General & Administrative Expenses	$	73,012.18		$	132,926.25		$	(59,914.07)		$ 177,235.00		41.20%	
Total Expenses	 $	73,012.18 		 $	132,926.25 		 $	(59,914.07)		 $ 177,235.00 			41.20%	
Income (Loss) from Operations	$	(24,269.75)		$	-		$	(24,269.75)		$	-			
Other Income (Expense)										
Interest Income	$	155.56		$	-		$	155.56		$	-			
Total Other Income (Expense)	$	155.56		$	-		$	155.56		$	-			
Net Income (Loss)	$	(24,114.19)		$	-		$	(24,114.19)		$	-