The Village of Gulfstream Park CDD
May 2025 Financial Report

May 31, 2025

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

The Village at Gulfstream Park CDD
Statement of Financial Position As of 5/31/2025

General	Debt Service	General Long-	
Funds	Funds	Term Debt Funds	

Total

	Assets							
Current Assets								
General Checking Account	$	548.44					$	548.44	
Accounts Receivable - Due from Developer	3,493.33						3,493.33	
Prepaid Expenses	833.33						833.33	
Debt Service Reserve Bond	$ 2,181,735.34						2,181,735.34	
Revenue Bond	1,118.36						1,118.36	
Prepayment Bond	3,371.48						3,371.48	
User Fee Bond	165,078.80						165,078.80	
Custody Bond	93,113.61						93,113.61	
Total Current Assets		
$  4,875.10	$ 2,444,417.59		$	-		$	2,449,292.69	

Investments								
Amount Available in Debt Service Funds			$	2,444,417.59		$	2,444,417.59	
Amount To Be Provided	
				42,765,582.41			42,765,582.41	
Total Investments	$	-	$	-		$	45,210,000.00		$	45,210,000.00	
Total Assets	$  4,875.10	$ 2,444,417.59		$	45,210,000.00		$	47,659,292.69	

Liabilities and Net Assets							
Current Liabilities								
Accounts Payable	$  3,493.33					$	3,493.33	
Deferred Revenue	3,493.33						3,493.33	
Total Current Liabilities		
$  6,986.66	$	-		$	-		$	6,986.66	

Long Term Liabilities								
Revenue Bonds Payable - Long-Term	
			$	45,210,000.00		$	45,210,000.00	
Total Long Term Liabilities	$	-	$	-		$	45,210,000.00		$	45,210,000.00	
Total Liabilities		
$  6,986.66	$	-		$	45,210,000.00		$	45,216,986.66	

Net Assets									
Net Assets, Unrestricted	$	839.39					$	839.39	
Net Assets - General Government	3,179.59						3,179.59	
Current Year Net Assets - General Government	(6,130.54)						(6,130.54)	
Net Assets, Unrestricted	$ 2,948,433.69						2,948,433.69	
Current Year Net Assets, Unrestricted	(504,016.10)						(504,016.10)	
Total Net Assets		
$ (2,111.56)	$ 2,444,417.59		$	-		$	2,442,306.03	

								
Total Liabilities and Net Assets	$  4,875.10	$ 2,444,417.59		$	45,210,000.00		$	47,659,292.69	

The Village at Gulfstream Park CDD
Statement of Activities As of 5/31/2025	

General Fund	
Debt Service Fund	General Long-Term Debt Fund	

Total	

Revenues

Developer Contributions	$	54,986.66				$	54,986.66	
Other Assessments			$ 3,975,461.78		3,975,461.78	
User Fee Revenue			198,804.24		198,804.24	
Tenant Fees			138,716.56		138,716.56	
Total Revenues	$	54,986.66		$ 4,312,982.58		$	-	$ 4,367,969.24	

Expenses

Public Officials' Liability Insurance	$	5,208.00				$	5,208.00	
Trustee Services	10,132.30				10,132.30	
Management	21,666.64				21,666.64	
District Counsel	3,000.00				3,000.00	
Arbitrage Calculation	650.00				650.00	
Postage & Shipping	1.38				1.38	
Legal Advertising	148.99				148.99	
Web Site Maintenance	1,680.00				1,680.00	
Dues, Licenses, and Fees	175.00				175.00	
General Insurance	5,571.00				5,571.00	
Property & Casualty	12,956.00				12,956.00	
Principal Payments			$ 1,920,000.00		1,920,000.00	
Interest Payments			2,976,187.50		2,976,187.50	
Total Expenses	$	61,189.31		$ 4,896,187.50		$	-	$ 4,957,376.81	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	72.11				$	72.11	
Interest Income			$	79,188.82		79,188.82	
Total Other Revenues (Expenses) & Gains (Losses)	$	72.11		$	79,188.82		$	-	$	79,260.93	
Change In Net Assets	$	(6,130.54)		$	(504,016.10)		$	-	$	(510,146.64)	
Net Assets At Beginning Of Year	$	4,018.98		$ 2,948,433.69		$	-	$ 2,952,452.67	

Net Assets At End Of Year	
$	(2,111.56)		
$ 2,444,417.59		 

$	-	$ 2,442,306.03	

The Village at Gulfstream Park CDD
Budget to Actual
For the Month Ending 5/31/2025

Year To Date

	Actual	Budget	Variance	FY 2025
Adopted Budget	Percentage Spent	

Revenues						
Developer Contributions	$	54,986.66	$ 85,135.04	$	(30,148.38)	$	127,702.50	43.06%	
Net Revenues	$	54,986.66		$ 85,135.04		$	(30,148.38)		$	127,702.50		43.06%	
General & Administrative Expenses						
Supervisor Fees	$	-	$	266.64	$	(266.64)	$	400.00	0.00%	
Public Officials' Liability Insurance	5,208.00	3,600.00	1,608.00	5,400.00	96.44%	
Trustee Services	10,132.30	7,333.36	2,798.94	11,000.00	92.11%	
Management	21,666.64	21,666.64	-	32,500.00	66.67%	
Engineering	-	4,666.64	(4,666.64)	7,000.00	0.00%	
District Counsel	3,000.00	20,000.00	(17,000.00)	30,000.00	10.00%	
Audit	-	3,333.36	(3,333.36)	5,000.00	0.00%	
Arbitrage Calculation	650.00	433.36	216.64	650.00	100.00%	
Travel and Per Diem	-	266.64	(266.64)	400.00	0.00%	
Postage & Shipping	1.38	66.64	(65.26)	100.00	1.38%	
Copies	-	33.36	(33.36)	50.00	0.00%	
Legal Advertising	148.99	2,333.36	(2,184.37)	3,500.00	4.26%	
Miscellaneous	-	6,138.40	(6,138.40)	9,207.50	0.00%	
Web Site Maintenance	1,680.00	1,880.00	(200.00)	2,820.00	59.57%	
Dues, Licenses, and Fees	175.00	116.64	58.36	175.00	100.00%	
General Insurance	5,571.00	4,000.00	1,571.00	6,000.00	92.85%	
Property & Casualty	12,956.00	9,000.00	3,956.00	13,500.00	95.97%	
Total General & Administrative Expenses	$	61,189.31		$ 85,135.04		$	(23,945.73)		$	127,702.50		47.92%	
Total Expenses	 $	61,189.31 	 $ 85,135.04 	 $ (23,945.73)	 $	127,702.50 		47.92%	
Income (Loss) from Operations	$	(6,202.65)	$	-	$	(6,202.65)	$	-	
Other Income (Expense)						
Interest Income	$	72.11	$	-	$	72.11	$	-	
Total Other Income (Expense)	$	72.11		$	-		$	72.11		$	-		
Net Income (Loss)	$	(6,130.54)		$	-		$	(6,130.54)		$	-