Laurel Road
Community Development District
February 2026 Financial Package

February 28, 2026

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 2/28/2026	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt			
Total	
				
Assets									
Current Assets											
General Checking Account	$	409,313.06								$	409,313.06	
Accounts Receivable	162.50									162.50	
On-Roll Assessments Receivable	9,990.26									9,990.26	
Off-Roll Assessments Receivable	64,398.20									64,398.20	
Prepaid Expenses	780.23									780.23	
Deposits	4,350.00									4,350.00	
On-Roll Assessments Receivable			$	12,499.40							12,499.40	
Series 2021A1 Debt Service Reserve			326,871.88							326,871.88	
Series 2021A2 Debt Service Reserve			62,500.00							62,500.00	
Series 2021A Revenue			728,839.12							728,839.12	
Series 2021A2 Interest			3.28							3.28	
Series 2021A1 Prepayment			164.15							164.15	
Series 2021A2 Prepayment			4,193.25							4,193.25	
Accounts Receivable - Due from Developer					$	71,517.60					71,517.60	
Due From Other Funds					11,979.76					11,979.76	
Prepaid Expenses					212.29					212.29	
Deposits					50.00					50.00	
Total Current Assets	$	488,994.25		$ 1,135,071.08		$	83,759.65		$	-		$	1,707,824.98	

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

$	1,122,571.68		

$	

1,122,571.68	
									13,752,428.32			13,752,428.32	
	$	-		$	-		$	-		$ 14,875,000.00		$	14,875,000.00	
Total Assets	$	488,994.25		$ 1,135,071.08		$	83,759.65		$ 14,875,000.00		$	16,582,824.98	

Laurel Road CDD

Long-Term Debt			Total	

$	

45,405.50	
				11,979.76	
				162.50	
				9,990.26	
				64,398.20	
				12,499.40	
				72,479.86	
				91,992.19	
				71,517.60	
$	-		$	380,425.27	

$ 14,875,000.00		
$	
14,875,000.00	
$ 14,875,000.00		$	14,875,000.00	
$ 14,875,000.00		$	15,255,425.27	
		
$	
(16,545.33)	
			(8,317.44)	
			126,143.91	
			255,776.89	
			1,142,003.21	
			(19,431.53)	
			(99,574.77)	
			(52,655.23)	
$	-		$	1,327,399.71	
				
$ 14,875,000.00		$	16,582,824.98	

Statement of Financial Position As of 2/28/2026

General Fund

Debt Service	Capital Projects Fund		Fund

Liabilities and Net Assets

Current Liabilities

Accounts Payable	$	45,405.50				
Due To Other Funds	11,979.76				
Deferred Revenue	162.50				
Deferred Revenue - On-Roll	9,990.26				
Deferred Revenue - Off-Roll	64,398.20				
Deferred Revenue			$	12,499.40		
Accounts Payable					$	72,479.86	
Retainage Payable					91,992.19	
Deferred Revenue					71,517.60	
Total Current Liabilities	$	131,936.22		$	12,499.40		$	235,989.65	

Long Term Liabilities

Total Liabilities	$	131,936.22		$	12,499.40		$	235,989.65	
Net Assets
Net Assets, Unrestricted	
$	(16,545.33)					
Current Year Net Assets, Unrestricted	(8,317.44)					
Net Assets - General Government	126,143.91					
Current Year Net Assets - General Government	255,776.89					
Net Assets, Unrestricted			$ 1,142,003.21			

Revenue Bonds Payable - Long-Term Total Long Term Liabilities

(19,431.53)		
$	
(99,574.77)
(52,655.23)	
$	357,058.03		$	1,122,571.68		$	(152,230.00)	
							
$	488,994.25		$	1,135,071.08		$	83,759.65	

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

Total Net Assets

Total Liabilities and Net Assets

$	-	$	-	$	-

Laurel Road CDD Statement of Activities As of 2/28/2026	
	
General Fund	Debt Service Fund	Capital Projects Fund	
Long-Term Debt		
Total	
Revenues
On-Roll Assessments Off-Roll Assessments
Other Income & Other Financing Sources Inter-Fund Transfers In
On-Roll Assessments Other Assessments
Inter-Fund Group Transfers In Developer Contributions
Inter-Fund Transfers In
Total Revenues	

$ 511,678.29
193,194.62
1,370.35
(11,017.50)
$	640,190.47
206,503.25
1,151.31

	
$ 695,225.76	$	847,845.03	

$	56,308.55
9,866.19

$	66,174.74	

$	-	

$

$	

511,678.29
193,194.62
1,370.35
(11,017.50)
640,190.47
206,503.25
1,151.31
56,308.55
9,866.19
1,609,245.53	
Expenses
Supervisor Fees
Public Officials' Liability Insurance Trustee Services
Management
Field Management Engineering Disclosure
District Counsel Assessment Administration Tax Preparation
Travel and Per Diem Postage & Shipping Legal Advertising Miscellaneous Office Supplies Property Taxes
Web Site Maintenance Holiday Decorations Dues, Licenses, and Fees Lifestyle Staff
Resident Services	

$	5,000.00
2,870.00
4,246.25
23,125.00
6,750.00
1,435.00
250.00
2,819.00
5,500.00
71.40
72.52
3.69
670.75
196.22
28.23
78.35
1,100.00
23,887.30
175.00
38,315.05
5,623.34			

$	

5,000.00
2,870.00
4,246.25
23,125.00
6,750.00
1,435.00
250.00
2,819.00
5,500.00
71.40
72.52
3.69
670.75
196.22
28.23
78.35
1,100.00
23,887.30
175.00
38,315.05
5,623.34	

	Laurel Road CDD				
	Statement of Activities				
	As of 2/28/2026				
	General Fund	Debt Service Fund	Capital Projects Fund	
Long-Term Debt	
Total	
Electric	$	576.75		$	576.75	
Clubhouse Electric	11,966.83			11,966.83	
Clubhouse Water	14,139.57			14,139.57	
Water Reclaimed	1,219.98			1,219.98	
Stormwater Management	16,058.79			16,058.79	
Wetlands Mitigation	6,400.00			6,400.00	
Amenity - Telephone	666.50			666.50	
Amenity - Cable TV / Internet / Wi-Fi	7,880.58			7,880.58	
Amenity - Landscape Maintenance	16,477.05			16,477.05	
Amenity - Irrigation Repairs	1,200.00			1,200.00	
Amenity - Pool Maintenance	7,939.98			7,939.98	
Amenity - Access Control	4,615.38			4,615.38	
Amenity - Janitorial	14,493.21			14,493.21	
Amenity - Pest Control	1,533.55			1,533.55	
Amenity - Fitness Equipment Leasing	12,575.85			12,575.85	
Amenity - Security	8,677.62			8,677.62	
Amenity - Office Equipment Leasing	2,138.72			2,138.72	
Amenity - Capital Outlay	585.02			585.02	
Amenity - Miscellaneous	1,447.95			1,447.95	
Amenity - AC Maintenance and Equipment	5,111.00			5,111.00	
Amenity - Pool Equipment	16.74			16.74	
Amenity - Gas	251.10			251.10	
Amenity - Operations	2,528.68			2,528.68	
Amenity - Fireplaces and Barbecue	16.65			16.65	
Gate Internet Service	8,170.12			8,170.12	
General Insurance	3,508.00			3,508.00	
Property & Casualty Insurance	36,328.00			36,328.00	
Other Insurance	500.00			500.00	
Irrigation	12,460.00			12,460.00	
Lake Maintenance	11,840.00			11,840.00	
Landscaping Maintenance & Material	63,323.35			63,323.35	
Landscape Improvements	9,715.44			9,715.44	
Fertilizer / Pesticides	7,200.00			7,200.00	
Contingency	1,596.50			1,596.50	
Lake Bank Mowing	9,930.00			9,930.00	
Gate - Repairs & Maintenance	225.00			225.00	

Laurel Road CDD

Statement of Activities As of 2/28/2026

General Fund

Debt Service	Capital Projects Fund		Fund

Long-Term Debt	Total

Dog Waste Stations	$	1,170.00						$	1,170.00	
Capital Expenditures	8,317.44						8,317.44	
Street Sweeping	3,800.00						3,800.00	
Streetlights	12,835.40						12,835.40	
Series 2021 A2 Principal Payments			$	610,000.00				610,000.00	
Series 2021 A1 Interest Payments			198,721.25				198,721.25	
Series 2021 A2 Interest Payments			70,664.07				70,664.07	
Engineering					$	17,414.23		17,414.23	
Landscaping Maintenance & Material					45,345.00		45,345.00	
Contingency					56,577.54		56,577.54	
Total Expenses	$ 451,653.85		$	879,385.32		$	119,336.77		$	-	$ 1,450,375.94	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	3,887.54						$	3,887.54	
Dividend Income			$	12,108.76				12,108.76	
Interest Income					$	1.89		1.89	
Dividend Income					504.91		504.91	
Total Other Revenues (Expenses) & Gains (Losses)	$	3,887.54		$	12,108.76		$	506.80		$	-	$	16,503.10	
Change In Net Assets	$ 247,459.45		$	(19,431.53)		$	(52,655.23)		$	-	$	175,372.69	
Net Assets At Beginning Of Year	$ 109,598.58		$	1,142,003.21		$	(99,574.77)		$	-	$ 1,152,027.02	

Net Assets At End Of Year	
$ 357,058.03		
$	1,122,571.68		
$	(152,230.00)			

$	-	$ 1,327,399.71	

Laurel Road CDD
Budget to Actual
For the Month Ending 2/28/2026

YTD Actual			YTD Budget	YTD Variance	Adopted Budget	Percentage	

$	511,678.29		

$		

217,361.90	

$  294,316.39	

$  521,668.55	

98.08%	
193,194.62				107,330.34	85,864.28	257,592.82	75.00%	
1,370.35				-	1,370.35	-		
36,354.17				36,354.17	-	87,250.00	41.67%	
$	742,597.43		$		361,046.41	$  381,551.02	$  866,511.37	85.70%	

$	5,000.00		
$		
5,000.00	
$	-	
$	12,000.00	
41.67%	
2,870.00				1,297.58	1,572.42	3,114.20	92.16%	
4,246.25				1,768.46	2,477.79	4,244.31	100.05%	
23,125.00				23,125.00	-	55,500.00	41.67%	
6,750.00				6,250.00	500.00	15,000.00	45.00%	
1,435.00				2,500.00	(1,065.00)	6,000.00	23.92%	
250.00				416.67	(166.67)	1,000.00	25.00%	
2,819.00				8,333.33	(5,514.33)	20,000.00	14.10%	
5,500.00				2,291.67	3,208.33	5,500.00	100.00%	
-				52.08	(52.08)	125.00	0.00%	
-				2,375.00	(2,375.00)	5,700.00	0.00%	
-				208.33	(208.33)	500.00	0.00%	
71.40				26.35	45.05	63.24	112.90%	
72.52				208.33	(135.81)	500.00	14.50%	
-				291.67	(291.67)	700.00	0.00%	
3.69				208.33	(204.64)	500.00	0.74%	
670.75				2,291.67	(1,620.92)	5,500.00	12.20%	
196.22				416.69	(220.47)	1,000.00	19.62%	
28.23				208.33	(180.10)	500.00	5.65%	
78.35				-	78.35	-		
1,100.00				1,300.00	(200.00)	3,120.00	35.26%	
23,887.30				10,416.67	13,470.63	25,000.00	95.55%	
-				208.33	(208.33)	500.00	0.00%	
175.00				72.92	102.08	175.00	100.00%	
38,315.05				22,622.83	15,692.22	54,294.80	70.57%	
5,623.34				3,124.33	2,499.01	7,498.40	74.99%	
$	122,217.10		$		95,014.57	$	27,202.53	$  228,034.95	53.60%	

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

General & Administrative Expenses
Supervisor Fees
Public Officials' Liability Insurance Trustee Services
Management  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 Office Supplies Property Taxes
Web Site Maintenance Holiday Decorations IT Services
Dues, Licenses, and Fees Lifestyle & Maintenance Staff Resident Services
Total General & Administrative Expenses

L	aurel Road CDD							
	Budget to Actual							
For the Month Ending 2/28/2026	

YTD Actual	

YTD Budget		

YTD Variance		
FY 2026
Adopted Budget		

Percentage	

Field Expenses (Inside the Gate; SF)								
Electric	$	432.56	$	3,125.00		$	(2,692.44)		$	7,500.00		5.77%	
Water Reclaimed	914.99	1,562.50		(647.52)		3,750.00		24.40%	
Stormwater Management	16,058.79	833.33		15,225.46		2,000.00		802.94%	
Wetland Mitigation	6,400.00	3,750.00		2,650.00		9,000.00		71.11%	
Equipment Rental	-	468.75		(468.75)		1,125.00		0.00%	
Gate Internet Service	8,170.12	833.33		7,336.79		2,000.00		408.51%	
General Insurance	2,631.00	1,189.17		1,441.83		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00	6,331.56		20,914.44		15,195.75		179.30%	
Other Insurance	500.00	-		500.00		-			
Irrigation - Repair and Maintenance	9,345.00	7,800.00		1,545.00		18,720.00		49.92%	
Lake Maintenance	8,880.00	7,500.00		1,380.00		18,000.00		49.33%	
Landscaping Maintenance & Material	47,492.51	44,305.01		3,187.50		106,332.03		44.66%	
Landscape Improvements	7,286.58	6,250.00		1,036.58		15,000.00		48.58%	
Fertilizer / Pesticides	5,400.00	5,400.00		-		12,960.00		41.67%	
Contingency	1,596.50	7,250.00		(5,653.50)		17,400.00		9.18%	
Lake Bank Mowing	9,930.00	-		9,930.00		-			
Gate - Repairs & Maintenance	225.00	1,458.33		(1,233.33)		3,500.00		6.43%	
Mulch	-	2,083.33		(2,083.33)		5,000.00		0.00%	
Storm Cleanup	-	3,125.00		(3,125.00)		7,500.00		0.00%	
Storm Landscape Replacement	-	4,687.50		(4,687.50)		11,250.00		0.00%	
Security Monitoring	-	12,500.00		(12,500.00)		30,000.00		0.00%	
Dog Waste Stations	1,170.00	1,170.00		-		2,808.00		41.67%	
Mailbox Maintenance	-	83.33		(83.33)		200.00		0.00%	
Capital Expenditures	6,238.08	3,125.00		3,113.08		7,500.00		83.17%	
Street Sweeping	3,800.00	5,000.00		(1,200.00)		12,000.00		31.67%	
Lighting	-	312.50		(312.50)		750.00		0.00%	
Streetlights - Leasing	9,626.55	12,600.00		(2,973.45)		30,240.00		31.83%	
Bike Share Maintenance	-	1,041.67		(1,041.67)		2,500.00		0.00%	
Golf Cart Maintenance	-	468.75		(468.75)		1,125.00		0.00%	
Total Field Expenses (Inside the Gate; Only SF)	
$	173,343.68	
$  144,254.06		$	29,089.62		$  346,209.78		50.07%	

Field Expenses (Outside the Gate; MF)								
Electric	$	144.19	$	1,041.67		$	(897.48)		$	2,500.00		5.77%	
Water Reclaimed	305.00	520.83		(215.84)		1,250.00		24.40%	
Equipment Rental	-	156.25		(156.25)		375.00		0.00%	
General Insurance	877.00	396.39		480.61		951.34		92.19%	
Property & Casualty Insurance	9,082.00	2,110.52		6,971.48		5,065.25		179.30%	
Irrigation - Repair and Maintenance	3,115.00	2,600.00		515.00		6,240.00		49.92%	
Lake Maintenance	2,960.00	2,500.00		460.00		6,000.00		49.33%	
Landscaping Maintenance & Material	15,830.84	14,768.34		1,062.50		35,444.01		44.66%	
Landscape Improvements	2,428.86	2,083.33		345.53		5,000.00		48.58%	
Fertilizer / Pesticides	1,800.00	1,800.00		-		4,320.00		41.67%	
Storm Cleanup	-	1,041.67		(1,041.67)		2,500.00		0.00%	
Storm Landscape Replacement	-	1,562.50		(1,562.50)		3,750.00		0.00%	
Capital Expenditures	2,079.36	1,041.67		1,037.69		2,500.00		83.17%	
Lighting	-	104.17		(104.17)		250.00		0.00%	
Streetlights - Leasing	3,208.85	4,200.00		(991.15)		10,080.00		31.83%	
Golf Cart Maintenance	-	156.25		(156.25)		375.00		0.00%	
Total Field Expenses (Outside the Gate; MF)	
$	41,831.09	
$	36,083.59		$	5,747.50		$	86,600.59		48.30%	

Laurel Road CDD
Budget to Actual
For the Month Ending 2/28/2026

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Clubhouse Electric	$	11,966.83	$	4,166.67	$	7,800.16	$	10,000.00	119.67%	
Clubhouse Water	14,139.57	6,250.00	7,889.57	15,000.00	94.26%	
Amenity - Telephone	666.50	3,650.00	(2,983.50)	8,760.00	7.61%	
Amenity - Cable TV / Internet / Wi-Fi	7,880.58	5,416.67	2,463.91	13,000.00	60.62%	
Amenity - Landscape Maintenance	16,477.05	8,333.33	8,143.72	20,000.00	82.39%	
Amenity - Irrigation Repairs	1,200.00	4,166.67	(2,966.67)	10,000.00	12.00%	
Amenity - Pool Maintenance	7,939.98	7,760.00	179.98	18,624.00	42.63%	
Amenity - Access Control Maintenance	4,615.38	625.00	3,990.38	1,500.00	307.69%	
Amenity - Pool Equipment	16.74	416.67	(399.93)	1,000.00	1.67%	
Amenity - Cleaning	14,493.21	16,083.33	(1,590.12)	38,600.00	37.55%	
Amenity - Pest Control	1,533.55	2,500.00	(966.45)	6,000.00	25.56%	
Amenity - Fitness Equipment Leasing	12,575.85	12,575.85	-	30,182.04	41.67%	
Amenity - Security Monitoring	8,677.62	2,541.67	6,135.95	6,100.00	142.26%	
Amenity - Office Equipment Leasing	2,138.72	2,083.33	55.39	5,000.00	42.77%	
Amenity - Capital Outlay	585.02	3,125.00	(2,539.98)	7,500.00	7.80%	
Amenity - Miscellaneous	1,447.95	1,041.67	406.28	2,500.00	57.92%	
Amenity - A/C Maintenance and Equipment	5,111.00	625.00	4,486.00	1,500.00	340.73%	
Amenity - Gas	251.10	583.33	(332.23)	1,400.00	17.94%	
Amenity - Operations	2,528.68	3,333.33	(804.65)	8,000.00	31.61%	
Amenity - Fireplaces and Barbecue	16.65	416.67	(400.02)	1,000.00	1.67%	
Total Vistera - Amenity Expenses	$	114,261.98		$	85,694.19		$	28,567.79		$	205,666.04		55.56%	

Total Expenses	
 $	451,653.85 	
 $  361,046.41 	
 $	90,607.44 	
 $  866,511.36 	
	52.12%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	3,887.54	$	-	$	3,887.54	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	3,887.54		$	-		$	3,887.54		$	-		
Net Income (Loss)	$	294,831.12		$	-		$	294,831.12		$	-