The Village of Gulfstream Park CDD
March 2025 Financial Report

March 31, 2025

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

Statement of Financial Position As of 3/31/2025

General Fund

Debt Service	General Long- Fund		Term Debt

Total

	Assets								
Current Assets									
General Checking Account	$	402.64						$	402.64	
Accounts Receivable - Due from Developer	2,708.33							2,708.33	
Prepaid Expenses	833.33							833.33	
Debt Service Reserve Bond	$	2,382,256.26						2,382,256.26	
Revenue Bond		81,598.00						81,598.00	
Interest Bond		0.01						0.01	
Prepayment Bond		584.46						584.46	
User Fee Bond		130,839.59						130,839.59	
Custody Bond	
	57,822.74						57,822.74	
Total Current Assets	$	3,944.30	$	2,653,101.06		$	-		$	2,657,045.36	

Investments									
Amount Available in Debt Service Funds				$	2,653,101.06		$	2,653,101.06	
Amount To Be Provided	
				40,636,898.94			40,636,898.94	
Total Investments	$	-	$	-		$	43,290,000.00		$	43,290,000.00	
Total Assets	
$	3,944.30	$	2,653,101.06		$	43,290,000.00		$	45,947,045.36	

Liabilities and Net Assets								
Current Liabilities									
Accounts Payable	$	2,708.33						$	2,708.33	
Deferred Revenue	2,708.33							2,708.33	
Total Current Liabilities	
$	5,416.66	$	-		$	-		$	5,416.66	

Long Term Liabilities									
Revenue Bonds Payable - Long-Term	
			$	43,290,000.00		$	43,290,000.00	
Total Long Term Liabilities	$	-	$	-		$	43,290,000.00		$	43,290,000.00	
Total Liabilities	
$	5,416.66	$	-		$	43,290,000.00		$	43,295,416.66	

Net Assets									
Net Assets, Unrestricted	$	839.39						$	839.39	
Net Assets - General Government	9,961.59							9,961.59	
Current Year Net Assets - General Government	(12,273.34)							(12,273.34)	
Net Assets, Unrestricted	$	2,948,433.69						2,948,433.69	
Current Year Net Assets, Unrestricted	
	(295,332.63)						(295,332.63)	
Total Net Assets	$	(1,472.36)	$	2,653,101.06		$	-		$	2,651,628.70	

								
Total Liabilities and Net Assets	$	3,944.30	$	2,653,101.06		$	43,290,000.00		$	45,947,045.36	

Statement of Activities As of 3/31/2025

General Fund

Debt Service	General Long- Fund		Term Debt

Total

Revenues

Developer Contributions	$	41,218.00				$	41,218.00	
Other Assessments			$	863,966.04		863,966.04	
User Fee Revenue			165,298.66		165,298.66	
Tenant Fees			103,857.29		103,857.29	
Total Revenues	$	41,218.00		$ 1,133,121.99		$	-	$ 1,174,339.99	

Expenses

Public Officials' Liability Insurance	$	5,208.00				$	5,208.00	
Trustee Services	10,132.30				10,132.30	
Management	16,249.98				16,249.98	
District Counsel	2,000.00				2,000.00	
Postage & Shipping	0.69				0.69	
Legal Advertising	148.99				148.99	
Web Site Maintenance	1,110.00				1,110.00	
Dues, Licenses, and Fees	175.00				175.00	
General Insurance	5,571.00				5,571.00	
Property & Casualty	12,956.00				12,956.00	
Interest Payments			$ 1,488,093.75		1,488,093.75	
Total Expenses	$	53,551.96		$ 1,488,093.75		$	-	$ 1,541,645.71	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	60.62				$	60.62	
Interest Income			$	59,639.13		$	59,639.13	
Total Other Revenues (Expenses) & Gains (Losses)	$	60.62		$	59,639.13		$	-	$	59,699.75	
Change In Net Assets	$	(12,273.34)		$	(295,332.63)		$	-	$	(307,605.97)	
Net Assets At Beginning Of Year	$	10,800.98		$ 2,948,433.69		$	-	$ 2,959,234.67	

Net Assets At End Of Year	
$	(1,472.36)		
$ 2,653,101.06			

$	-	$ 2,651,628.70	

Budget to Actual
For the Month Ending 3/31/2025

Year To Date

Actual	
Budget	
Variance	FY2025
Adopted Budget	Percentage Spent	

Revenues						
Developer Contributions	$	41,218.00	$	63,851.28	$	(22,633.28)	$ 127,702.50	32.28%	
Net Revenues	$	41,218.00		$	63,851.28		$	(22,633.28)		$ 127,702.50		32.28%	
General & Administrative Expenses						
Supervisor Fees	$	-	$	199.98	$	(199.98)	$	400.00	0.00%	
Public Officials' Liability Insurance	5,208.00	2,700.00	2,508.00	5,400.00	96.44%	
Trustee Services	10,132.30	5,500.02	4,632.28	11,000.00	92.11%	
Management	16,249.98	16,249.98	-	32,500.00	50.00%	
Engineering	-	3,499.98	(3,499.98)	7,000.00	0.00%	
District Counsel	2,000.00	15,000.00	(13,000.00)	30,000.00	6.67%	
Audit	-	2,500.02	(2,500.02)	5,000.00	0.00%	
Arbitrage Calculation	-	325.02	(325.02)	650.00	0.00%	
Travel and Per Diem	-	199.98	(199.98)	400.00	0.00%	
Postage & Shipping	0.69	49.98	(49.29)	100.00	0.69%	
Copies	-	25.02	(25.02)	50.00	0.00%	
Legal Advertising	148.99	1,750.02	(1,601.03)	3,500.00	4.26%	
Miscellaneous	-	4,603.80	(4,603.80)	9,207.50	0.00%	
Web Site Maintenance	1,110.00	1,410.00	(300.00)	2,820.00	39.36%	
Dues, Licenses, and Fees	175.00	87.48	87.52	175.00	100.00%	
General Insurance	5,571.00	3,000.00	2,571.00	6,000.00	92.85%	
Property & Casualty	12,956.00	6,750.00	6,206.00	13,500.00	95.97%	
Total General & Administrative Expenses	$	53,551.96		$	63,851.28		$	(10,299.32)		$	127,702.50		41.93%	
Total Expenses	 $	53,551.96 	 $	63,851.28 	 $	(10,299.32)	 $ 127,702.50 		41.93%	
Income (Loss) from Operations	$	(12,333.96)	$	-	$	(12,333.96)	$	-	
Other Income (Expense)						
Interest Income	$	60.62	$	-	$	60.62	$	-	
Total Other Income (Expense)	$	60.62		$	-		$	60.62		$	-		
Net Income (Loss)	$	(12,273.34)		$	-		$	(12,273.34)		$	-