Laurel Road
Community Development District
October 2025 Financial Package

October 31, 2025

PFM Group Consulting LLC
3501 Quadrangle Boulevard
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

Laurel Road CDD
Statement of Financial Position As of 10/31/2025	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt			
Total	
			
Assets								
Current Assets											
General Checking Account	$	64,147.65								$	64,147.65	
On-Roll Assessments Receivable	521,668.55									521,668.55	
Off-Roll Assessments Receivable	257,592.82									257,592.82	
Deposits	4,350.00									4,350.00	
On-Roll Assessments Receivable			$	652,689.87							652,689.87	
Series 2021A1 Debt Service Reserve			326,871.88							326,871.88	
Series 2021A2 Debt Service Reserve			93,203.12							93,203.12	
Series 2021A Revenue			344,030.04							344,030.04	
Series 2021A2 Interest			3,392.11							3,392.11	
Series 2021A1 Prepayment			162.11							162.11	
Series 2021A2 Prepayment			440,248.72							440,248.72	
Accounts Receivable - Due from Developer					$	19,792.75					19,792.75	
Series 2021A Acquisition/Construction					55,388.42					55,388.42	
Deposits					50.00					50.00	
Total Current Assets	$	847,759.02		$ 1,860,597.85		$	75,231.17		$	-		$	2,783,588.04	

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

$	1,207,907.98		

$	

1,207,907.98	
									14,952,092.02			14,952,092.02	
	$	-		$	-		$	-		$ 16,160,000.00		$	16,160,000.00	
Total Assets	$	847,759.02		$ 1,860,597.85		$	75,231.17		$ 16,160,000.00		$	18,943,588.04	

Laurel Road CDD
Statement of Financial Position As of 10/31/2025	

Current Liabilities Accounts Payable Deferred Revenue Deferred Revenue Accounts Payable Retainage Payable Deferred Revenue
Total Current Liabilities	
General Fund	Debt Service	Capital Projects
Fund	Fund

Liabilities and Net Assets

$	68,896.97
779,261.37
$	652,689.87
$	63,032.58
91,992.19
19,792.75

$	848,158.34	$	652,689.87	$	174,817.52		
Long-Term Debt

$	-		

$

$	
Total

68,896.97
779,261.37
652,689.87
63,032.58
91,992.19
19,792.75
1,675,665.73	

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

$	

-		

$	

-		

$	-		

$ 16,160,000.00

$ 16,160,000.00		

$
$	

16,160,000.00
16,160,000.00	
Total Liabilities	$	848,158.34		$	652,689.87	$	174,817.52		$ 16,160,000.00		$	17,835,665.73	

Net Assets
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Total Net Assets

Total Liabilities and Net Assets	

$	109,584.10
(109,983.42)

$	(399.32)

$	847,759.02			

$ 1,142,003.21
65,904.77
$	(99,574.77)
(11.58)

$ 1,207,907.98	$	(99,586.35)

	
$ 1,860,597.85	$	75,231.17		

$	-

$ 16,160,000.00		

$

$

$	

109,584.10
(109,983.42)
1,142,003.21
65,904.77
(99,574.77)
(11.58)

1,107,922.31

18,943,588.04	

Laurel Road CDD Statement of Activities As of 10/31/2025	
	
General Fund	Debt Service Fund	Capital Projects Fund	
Long-Term Debt		
Total	
Revenues
Other Income & Other Financing Sources Other Assessments
Total Revenues	

$	582.05
$	65,904.77

$	582.05	$	65,904.77	

$	-	

$	-	

$

$	

582.05
65,904.77
66,486.82	
Expenses
Supervisor Fees
Public Officials' Liability Insurance Trustee Services
Management Miscellaneous
Web Site Maintenance Holiday Decorations Dues, Licenses, and Fees Lifestyle Staff
Resident Services Electric Clubhouse Electric Clubhouse Water Water Reclaimed
Stormwater Management Amenity - Telephone
Amenity - Cable TV / Internet / Wi-Fi Amenity - Landscape Maintenance Amenity - Irrigation Repairs
Amenity - Pool Maintenance Amenity - Janitorial
Amenity - Pest Control
Amenity - Fitness Equipment Leasing Amenity - Security
Amenity - Office Equipment Leasing Amenity - Gas
Amenity - Operations	

$	1,000.00
2,870.00
709.65
4,625.00
36.95
160.00
11,633.53
175.00
4,122.37
1,835.69
55.99
1,338.84
162.25
60.10
919.54
73.38
2,074.45
3,295.41
240.00
1,552.00
2,855.67
395.00
2,465.17
3,312.82
627.79
26.10
208.68			

$	

1,000.00
2,870.00
709.65
4,625.00
36.95
160.00
11,633.53
175.00
4,122.37
1,835.69
55.99
1,338.84
162.25
60.10
919.54
73.38
2,074.45
3,295.41
240.00
1,552.00
2,855.67
395.00
2,465.17
3,312.82
627.79
26.10
208.68	

Laurel Road CDD Statement of Activities As of 10/31/2025

General Fund

Debt Service	Capital Projects Fund		Fund

Long-Term Debt	Total

Gate Internet Service	$	701.82						$	701.82	
General Insurance	3,508.00						3,508.00	
Property & Casualty Insurance	36,328.00						36,328.00	
Other Insurance	500.00						500.00	
Irrigation	2,080.00						2,080.00	
Lake Maintenance	1,888.00						1,888.00	
Landscaping Maintenance & Material	12,314.67						12,314.67	
Fertilizer / Pesticides	1,440.00						1,440.00	
Lake Bank Mowing	1,986.00						1,986.00	
Gate - Repairs & Maintenance	225.00						225.00	
Dog Waste Stations	234.00						234.00	
Streetlights	2,754.39						2,754.39	
Contingency				$	11.58			11.58	
Total Expenses	$	110,791.26		$	-	$	11.58		$	-	$	110,802.84	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	225.79			$	225.79	
Total Other Revenues (Expenses) & Gains (Losses)	$	225.79		$	-	$	-	$	-	$	225.79	

Change In Net Assets	
$ (109,983.42)		
$	65,904.77		
$	(11.58)		
$	-		
$	(44,090.23)	
Net Assets At Beginning Of Year	$	109,584.10		$	1,142,003.21		$	(99,574.77)		$	-		$ 1,152,012.54	

Net Assets At End Of Year	
$	(399.32)		
$	1,207,907.98		
$	(99,586.35)		
$	-		
$ 1,107,922.31	

YTD Budget	YTD Variance	FY 2026
Adopted Budget		Percentage	

$	43,472.38	

$	(43,472.38)	

$  521,668.55		

0.00%	
21,466.07	(21,466.07)	257,592.82		0.00%	
-	582.05	-			
7,270.83	-	87,250.00		8.33%	
$	72,209.28	$	(64,356.40)	$  866,511.37		0.91%	

$	1,000.00	
$	-	
$	12,000.00		
8.33%	
259.52	2,610.48	3,114.20		92.16%	
353.69	355.96	4,244.31		16.72%	
4,625.00	-	55,500.00		8.33%	
1,250.00	(1,250.00)	15,000.00		0.00%	
500.00	(500.00)	6,000.00		0.00%	
83.33	(83.33)	1,000.00		0.00%	
1,666.67	(1,666.67)	20,000.00		0.00%	
458.33	(458.33)	5,500.00		0.00%	
10.42	(10.42)	125.00		0.00%	
475.00	(475.00)	5,700.00		0.00%	
41.67	(41.67)	500.00		0.00%	
5.27	(5.27)	63.24		0.00%	
41.67	(41.67)	500.00		0.00%	
58.33	(58.33)	700.00		0.00%	
41.67	(41.67)	500.00		0.00%	
458.33	(458.33)	5,500.00		0.00%	
83.33	(46.38)	1,000.00		3.70%	
41.67	(41.67)	500.00		0.00%	
260.00	(100.00)	3,120.00		5.13%	
2,083.33	9,550.20	25,000.00		46.53%	
41.67	(41.67)	500.00		0.00%	
14.58	160.42	175.00		100.00%	
4,524.57	(402.20)	54,294.80		7.59%	
624.87	1,210.82	7,498.40		24.48%	
$	19,002.92	$	8,165.27	$  228,034.95		11.91%	

YTD Actual

Revenues
On-Roll Assessments Off-Roll Assessments
Other Income & Other Financing Sources Carryforward Cash
Net Revenues

General & Administrative Expenses

$	-
- 582.05
7,270.83

$	7,852.88

Supervisor Fees	$	1,000.00	
Public Officials' Liability Insurance	2,870.00	
Trustee Services	709.65	
Management	4,625.00	
Field Management	-	
Engineering	-	
Disclosure	-	
District Counsel	-	
Assessment Administration	-	
Reamortization Schedules	-	
Audit	-	
Arbitrage Calculation	-	
Tax Preparation	-	
Travel and Per Diem	-	
Telephone	-	
Postage & Shipping	-	
Legal Advertising	-	
Miscellaneous	36.95	
Office Supplies	-	
Web Site Maintenance	160.00	
Holiday Decorations	11,633.53	
IT Services	-	
Dues, Licenses, and Fees	175.00	
Lifestyle & Maintenance Staff	4,122.37	
Resident Services	1,835.69	
Total General & Administrative Expenses	$	27,168.19	

   

YTD Actual	YTD Budget	YTD Variance

FY 2026
Adopted Budget

Percentage

Field Expenses (Inside the Gate; SF)

Electric	$	41.99		$	625.00		$	(583.01)		$	7,500.00		0.56%	
Water Reclaimed	45.08		312.50		(267.43)		3,750.00		1.20%	
Stormwater Management	919.54		166.67		752.87		2,000.00		45.98%	
Wetland Mitigation	-		750.00		(750.00)		9,000.00		0.00%	
Equipment Rental	-		93.75		(93.75)		1,125.00		0.00%	
Gate Internet Service	701.82		166.67		535.15		2,000.00		35.09%	
General Insurance	2,631.00		237.83		2,393.17		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00		1,266.31		25,979.69		15,195.75		179.30%	
Other Insurance	500.00		-		500.00		-			
Irrigation - Repair and Maintenance	1,560.00		1,560.00		-		18,720.00		8.33%	
Lake Maintenance	1,416.00		1,500.00		(84.00)		18,000.00		7.87%	
Landscaping Maintenance & Material	9,236.00		8,861.00		375.00		106,332.03		8.69%	
Landscape Improvements	-		1,250.00		(1,250.00)		15,000.00		0.00%	
Fertilizer / Pesticides	1,080.00		1,080.00		-		12,960.00		8.33%	
Contingency	-		1,450.00		(1,450.00)		17,400.00		0.00%	
Lake Bank Mowing	1,986.00		-		1,986.00		-			
Gate - Repairs & Maintenance	225.00		291.67		(66.67)		3,500.00		6.43%	
Mulch	-		416.67		(416.67)		5,000.00		0.00%	
Storm Cleanup	-		625.00		(625.00)		7,500.00		0.00%	
Storm Landscape Replacement	-		937.50		(937.50)		11,250.00		0.00%	
Security Monitoring	-		2,500.00		(2,500.00)		30,000.00		0.00%	
Dog Waste Stations	234.00		234.00		-		2,808.00		8.33%	
Mailbox Maintenance	-		16.67		(16.67)		200.00		0.00%	
Capital Expenditures	-		625.00		(625.00)		7,500.00		0.00%	
Street Sweeping	-		1,000.00		(1,000.00)		12,000.00		0.00%	
Lighting	-		62.50		(62.50)		750.00		0.00%	
Streetlights - Leasing	2,065.79		2,520.00		(454.21)		30,240.00		6.83%	
Bike Share Maintenance	-		208.33		(208.33)		2,500.00		0.00%	
Golf Cart Maintenance	-		93.75		(93.75)		1,125.00		0.00%	
Total Field Expenses (Inside the Gate; Only SF)	$	49,888.22		$	28,850.82		$	21,037.40		$  346,209.78		14.41%	

Field Expenses (Outside the Gate; MF)

Electric	$	14.00		$	208.33		$	(194.33)		$	2,500.00		0.56%	
Water Reclaimed	15.03		104.17		(89.15)		1,250.00		1.20%	
Equipment Rental	-		31.25		(31.25)		375.00		0.00%	
General Insurance	877.00		79.28		797.72		951.34		92.19%	
Property & Casualty Insurance	9,082.00		422.10		8,659.90		5,065.25		179.30%	
Irrigation - Repair and Maintenance	520.00		520.00		-		6,240.00		8.33%	
Lake Maintenance	472.00		500.00		(28.00)		6,000.00		7.87%	
Landscaping Maintenance & Material	3,078.67		2,953.67		125.00		35,444.01		8.69%	
Landscape Improvements	-		416.67		(416.67)		5,000.00		0.00%	
Fertilizer / Pesticides	360.00		360.00		-		4,320.00		8.33%	
Storm Cleanup	-		208.33		(208.33)		2,500.00		0.00%	
Storm Landscape Replacement	-		312.50		(312.50)		3,750.00		0.00%	
Capital Expenditures	-		208.33		(208.33)		2,500.00		0.00%	
Lighting	-		20.83		(20.83)		250.00		0.00%	
Streetlights - Leasing	688.60		840.00		(151.40)		10,080.00		6.83%	
Golf Cart Maintenance	-		31.25		(31.25)		375.00		0.00%	
Total Field Expenses (Outside the Gate; MF)	$	15,107.29		$	7,216.71		$	7,890.58		$	86,600.59		17.44%	

YTD Actual	YTD Budget	YTD Variance

FY 2026
Adopted Budget

Percentage

Vistera - Amenity Expenses

Clubhouse Electric	$	1,338.84		$	833.33		$	505.51		$	10,000.00		13.39%	
Clubhouse Water	162.25		1,250.00		(1,087.75)		15,000.00		1.08%	
Amenity - Telephone	73.38		730.00		(656.62)		8,760.00		0.84%	
Amenity - Cable TV / Internet / Wi-Fi	2,074.45		1,083.33		991.12		13,000.00		15.96%	
Amenity - Landscape Maintenance	3,295.41		1,666.67		1,628.74		20,000.00		16.48%	
Amenity - Irrigation Repairs	240.00		833.33		(593.33)		10,000.00		2.40%	
Amenity - Pool Maintenance	1,552.00		1,552.00		-		18,624.00		8.33%	
Amenity - Pool Equipment	-		83.33		(83.33)		1,000.00		0.00%	
Amenity - Cleaning	2,855.67		3,216.67		(361.00)		38,600.00		7.40%	
Amenity - Pest Control	395.00		500.00		(105.00)		6,000.00		6.58%	
Amenity - Fitness Equipment Leasing	2,465.17		2,515.17		(50.00)		30,182.04		8.17%	
Amenity - Security Monitoring	3,312.82		508.33		2,804.49		6,100.00		54.31%	
Amenity - Office Equipment Leasing	627.79		416.67		211.12		5,000.00		12.56%	
Amenity - Capital Outlay	-		625.00		(625.00)		7,500.00		0.00%	
Amenity - Miscellaneous	-		208.33		(208.33)		2,500.00		0.00%	
Amenity - A/C Maintenance and Equipment	-		125.00		(125.00)		1,500.00		0.00%	
Amenity - Gas	26.10		116.67		(90.57)		1,400.00		1.86%	
Amenity - Access Control Maintenance	-		125.00		(125.00)		1,500.00		0.00%	
Amenity - Operations	208.68		666.67		(457.99)		8,000.00		2.61%	
Amenity - Fireplaces and Barbecue	-		83.33		(83.33)		1,000.00		0.00%	
Total Vistera - Amenity Expenses	$	18,627.56		$	17,138.83		$	1,488.73		$  205,666.04		9.06%	

Total Expenses	
 $	110,791.26 		
 $	72,209.28 		
 $	38,581.98 		
 $  866,511.36 		
	12.79%	
Other Revenues (Expenses) & Gains (Losses)

Interest Income	

$	225.79		

$	-		

$	225.79		

$	-			
Total Other Revenues (Expenses) & Gains (Losses)	$	225.79		$	-		$	225.79		$	-			
Net Income (Loss)	$  (102,712.59)		$	-		$  (102,712.59)		$	-