Laurel Road
Community Development District
March 2026 Financial Package

March 31, 2026

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

					Fund			Fund							
				
Assets										
Current Assets														
General Checking Account	$	293,816.82										$	293,816.82	
On-Roll Assessments Receivable		8,590.69											8,590.69	
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				$	10,748.32									10,748.32	
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				733,478.66									733,478.66	
Series 2021A2 Interest				2,728.88									2,728.88	
Series 2021A1 Prepayment				164.59									164.59	
Series 2021A2 Prepayment				353,085.56									353,085.56	
Accounts Receivable - Due from Developer						$	118,009.98						118,009.98	
Prepaid Expenses							212.29						212.29	
Deposits							50.00						50.00	
Total Current Assets	$	371,935.94		$ 1,489,577.89		$	118,272.27		$	-		$	1,979,786.10	

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

$	

1,478,829.57		

$	

1,478,829.57	
											13,396,170.43			13,396,170.43	
	$	-		$	-		$	-		$	14,875,000.00		$	14,875,000.00	
Total Assets	$	371,935.94		$ 1,489,577.89		$	118,272.27		$	14,875,000.00		$	16,854,786.10	

General Fund	Debt Service	Capital Projects	Long-Term Debt	Total

General Fund			Debt Service		Capital Projects	
					Fund			Fund	
Liabilities and Net Assets	
Current Liabilities									
Accounts Payable	$	5,963.43							
Deferred Revenue		500.00							
Deferred Revenue - On-Roll		8,590.69							
Deferred Revenue - Off-Roll		64,398.20							
Deferred Revenue				$	10,748.32				
Accounts Payable							$	106,992.48	
Retainage Payable								91,992.19	
Deferred Revenue								118,009.98	
Total Current Liabilities	$	79,452.32		$	10,748.32		$	316,994.65	

Long Term Liabilities									
Revenue Bonds Payable - Long-Term									
Total Long Term Liabilities	$	-		$	-		$	-	
Total Liabilities	$	79,452.32		$	10,748.32		$	316,994.65	

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		191,202.48							
Net Assets, Unrestricted				$	1,142,003.21				
Current Year Net Assets, Unrestricted					336,826.36				
Net Assets, Unrestricted							$	(99,574.77)	
Current Year Net Assets, Unrestricted								(99,147.61)	
Total Net Assets	$	292,483.62		$	1,478,829.57		$	(198,722.38)	
									
Total Liabilities and Net Assets	$	371,935.94		$	1,489,577.89		$	118,272.27	

	
Long-Term Debt			Total	

$	

5,963.43	
				500.00	
				8,590.69	
				64,398.20	
				10,748.32	
				106,992.48	
				91,992.19	
				118,009.98	
$	-		$	407,195.29	

$ 14,875,000.00		
$	
14,875,000.00	
$ 14,875,000.00		$	14,875,000.00	
$ 14,875,000.00		$	15,282,195.29	

$	

(16,545.33)	
			(8,317.44)	
			126,143.91	
			191,202.48	
			1,142,003.21	
			336,826.36	
			(99,574.77)	
			(99,147.61)	
$	-		$	1,572,590.81	
				
$ 14,875,000.00		$	16,854,786.10	

Laurel Road CDD Statement of Activities As of 3/31/2026	
	
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	

$ 513,077.86
193,194.62
1,649.75
(11,017.50)
$	641,941.55
558,093.09
1,151.31

	
$ 696,904.73	$	1,201,185.95	

$	119,276.15
9,866.19

$	129,142.34	

$	-	

$

$	

513,077.86
193,194.62
1,649.75
(11,017.50)
641,941.55
558,093.09
1,151.31
119,276.15
9,866.19
2,027,233.02	
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	

$	5,000.00
2,870.00
4,246.25
27,750.00
10,125.00
2,571.00
250.00
2,819.00
5,500.00
71.40
72.52
3.69
829.50
196.22
125.77
78.35
1,260.00
23,887.30
175.00
42,794.42			

$	

5,000.00
2,870.00
4,246.25
27,750.00
10,125.00
2,571.00
250.00
2,819.00
5,500.00
71.40
72.52
3.69
829.50
196.22
125.77
78.35
1,260.00
23,887.30
175.00
42,794.42	

	Laurel Road CDD				
	Statement of Activities				
	As of 3/31/2026				
	General Fund	Debt Service Fund	Capital Projects Fund	
Long-Term Debt	
Total	
Resident Services	$	6,200.66		$	6,200.66	
Electric	706.38			706.38	
Clubhouse Electric	14,762.44			14,762.44	
Clubhouse Water	17,263.02			17,263.02	
Water Reclaimed	1,713.91			1,713.91	
Stormwater Management	20,223.48			20,223.48	
Wetlands Mitigation	6,400.00			6,400.00	
Amenity - Telephone	814.78			814.78	
Amenity - Cable TV / Internet / Wi-Fi	9,344.49			9,344.49	
Amenity - Landscape Maintenance	19,772.46			19,772.46	
Amenity - Irrigation Repairs	1,440.00			1,440.00	
Amenity - Pool Maintenance	9,491.98			9,491.98	
Amenity - Access Control	6,153.84			6,153.84	
Amenity - Janitorial	17,357.25			17,357.25	
Amenity - Pest Control	1,743.55			1,743.55	
Amenity - Fitness Equipment Leasing	15,291.02			15,291.02	
Amenity - Security	6,722.62			6,722.62	
Amenity - Office Equipment Leasing	2,663.69			2,663.69	
Amenity - Capital Outlay	1,927.35			1,927.35	
Amenity - Miscellaneous	1,447.95			1,447.95	
Amenity - AC Maintenance and Equipment	5,195.00			5,195.00	
Amenity - Pool Equipment	16.74			16.74	
Amenity - Gas	259.88			259.88	
Amenity - Operations	2,896.47			2,896.47	
Amenity - Fireplaces and Barbecue	39.14			39.14	
Gate Internet Service	10,594.57			10,594.57	
General Insurance	3,508.00			3,508.00	
Property & Casualty Insurance	36,328.00			36,328.00	
Other Insurance	500.00			500.00	
Irrigation	14,860.50			14,860.50	
Lake Maintenance	13,728.00			13,728.00	
Landscaping Maintenance & Material	75,638.02			75,638.02	
Landscape Improvements	9,715.44			9,715.44	
Fertilizer / Pesticides	8,640.00			8,640.00	
Contingency	1,665.09			1,665.09	

Laurel Road CDD Statement of Activities As of 3/31/2026

General Fund

Debt Service	Capital Projects Fund		Fund

Long-Term Debt	Total

Lake Bank Mowing	$	11,916.00						$	11,916.00	
Gate - Repairs & Maintenance	324.16						324.16	
Dog Waste Stations	1,404.00						1,404.00	
Capital Expenditures	8,317.44						8,317.44	
Street Sweeping	4,750.00						4,750.00	
Streetlights	16,330.77						16,330.77	
Golf Cart Maintenance	182.72						182.72	
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					$	19,846.91		19,846.91	
Landscaping Maintenance & Material					131,597.25		131,597.25	
Contingency					77,352.59		77,352.59	
Total Expenses	$ 518,876.23		$	879,385.32		$	228,796.75		$	-	$ 1,627,058.30	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	4,856.54						$	4,856.54	
Dividend Income			$	15,025.73				15,025.73	
Interest Income					$	1.89		1.89	
Dividend Income					504.91		504.91	
Total Other Revenues (Expenses) & Gains (Losses)	$	4,856.54		$	15,025.73		$	506.80		$	-	$	20,389.07	
Change In Net Assets	$ 182,885.04		$	336,826.36		$	(99,147.61)		$	-	$	420,563.79	
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	
$ 292,483.62		
$	1,478,829.57		
$	(198,722.38)			

$	-	$ 1,572,590.81	

Laurel Road CDD
Budget to Actual
For the Month Ending 3/31/2026

YTD Actual			YTD Budget	YTD Variance	Adopted Budget	Percentage	

$	513,077.86		

$		

260,834.28	

$  252,243.58	

$  521,668.55	

98.35%	
193,194.62				128,796.41	64,398.21	257,592.82	75.00%	
1,649.75				-	1,649.75	-		
43,625.00				43,625.00	-	87,250.00	50.00%	
$	751,547.23		$		433,255.69	$  318,291.54	$  866,511.37	86.73%	

$	5,000.00		
$		
6,000.00	
$	(1,000.00)	
$	12,000.00	
41.67%	
2,870.00				1,557.10	1,312.90	3,114.20	92.16%	
4,246.25				2,122.16	2,124.09	4,244.31	100.05%	
27,750.00				27,750.00	-	55,500.00	50.00%	
10,125.00				7,500.00	2,625.00	15,000.00	67.50%	
2,571.00				3,000.00	(429.00)	6,000.00	42.85%	
250.00				500.00	(250.00)	1,000.00	25.00%	
2,819.00				10,000.00	(7,181.00)	20,000.00	14.10%	
5,500.00				2,750.00	2,750.00	5,500.00	100.00%	
-				62.50	(62.50)	125.00	0.00%	
-				2,850.00	(2,850.00)	5,700.00	0.00%	
-				250.00	(250.00)	500.00	0.00%	
71.40				31.62	39.78	63.24	112.90%	
72.52				250.00	(177.48)	500.00	14.50%	
-				350.00	(350.00)	700.00	0.00%	
3.69				250.00	(246.31)	500.00	0.74%	
829.50				2,750.00	(1,920.50)	5,500.00	15.08%	
196.22				499.99	(303.77)	1,000.00	19.62%	
125.77				250.00	(124.23)	500.00	25.15%	
78.35				-	78.35	-		
1,260.00				1,560.00	(300.00)	3,120.00	40.38%	
23,887.30				12,500.00	11,387.30	25,000.00	95.55%	
-				250.00	(250.00)	500.00	0.00%	
175.00				87.50	87.50	175.00	100.00%	
42,794.42				27,147.40	15,647.02	54,294.80	78.82%	
6,200.66				3,749.20	2,451.46	7,498.40	82.69%	
$	136,826.08		$		114,017.47	$	22,808.61	$  228,034.95	60.00%	

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 3/31/2026	

YTD Actual	

YTD Budget		

YTD Variance		
FY 2026
Adopted Budget		

Percentage	

Field Expenses (Inside the Gate; SF)								
Electric	$	529.79	$	3,750.00		$	(3,220.22)		$	7,500.00		7.06%	
Water Reclaimed	1,285.43	1,875.00		(589.57)		3,750.00		34.28%	
Stormwater Management	20,223.48	1,000.00		19,223.48		2,000.00		1011.17%	
Wetland Mitigation	6,400.00	4,500.00		1,900.00		9,000.00		71.11%	
Equipment Rental	-	562.50		(562.50)		1,125.00		0.00%	
Gate Internet Service	10,594.57	1,000.00		9,594.57		2,000.00		529.73%	
General Insurance	2,631.00	1,427.00		1,204.00		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00	7,597.88		19,648.12		15,195.75		179.30%	
Other Insurance	500.00	-		500.00		-			
Irrigation - Repair and Maintenance	11,145.38	9,360.00		1,785.38		18,720.00		59.54%	
Lake Maintenance	10,296.00	9,000.00		1,296.00		18,000.00		57.20%	
Landscaping Maintenance & Material	56,728.52	53,166.02		3,562.50		106,332.03		53.35%	
Landscape Improvements	7,286.58	7,500.00		(213.42)		15,000.00		48.58%	
Fertilizer / Pesticides	6,480.00	6,480.00		-		12,960.00		50.00%	
Contingency	1,665.09	8,700.00		(7,034.91)		17,400.00		9.57%	
Lake Bank Mowing	11,916.00	-		11,916.00		-			
Gate - Repairs & Maintenance	324.16	1,750.00		(1,425.84)		3,500.00		9.26%	
Mulch	-	2,500.00		(2,500.00)		5,000.00		0.00%	
Storm Cleanup	-	3,750.00		(3,750.00)		7,500.00		0.00%	
Storm Landscape Replacement	-	5,625.00		(5,625.00)		11,250.00		0.00%	
Security Monitoring	-	15,000.00		(15,000.00)		30,000.00		0.00%	
Dog Waste Stations	1,404.00	1,404.00		-		2,808.00		50.00%	
Mailbox Maintenance	-	100.00		(100.00)		200.00		0.00%	
Capital Expenditures	6,238.08	3,750.00		2,488.08		7,500.00		83.17%	
Street Sweeping	4,750.00	6,000.00		(1,250.00)		12,000.00		39.58%	
Lighting	-	375.00		(375.00)		750.00		0.00%	
Streetlights - Leasing	12,248.08	15,120.00		(2,871.92)		30,240.00		40.50%	
Bike Share Maintenance	-	1,250.00		(1,250.00)		2,500.00		0.00%	
Golf Cart Maintenance	137.04	562.50		(425.46)		1,125.00		12.18%	
Total Field Expenses (Inside the Gate; Only SF)	
$	200,029.19	
$  173,104.90		$	26,924.29		$  346,209.78		57.78%	

Field Expenses (Outside the Gate; MF)								
Electric	$	176.60	$	1,250.00		$	(1,073.41)		$	2,500.00		7.06%	
Water Reclaimed	428.48	625.00		(196.52)		1,250.00		34.28%	
Equipment Rental	-	187.50		(187.50)		375.00		0.00%	
General Insurance	877.00	475.67		401.33		951.34		92.19%	
Property & Casualty Insurance	9,082.00	2,532.62		6,549.38		5,065.25		179.30%	
Irrigation - Repair and Maintenance	3,715.13	3,120.00		595.13		6,240.00		59.54%	
Lake Maintenance	3,432.00	3,000.00		432.00		6,000.00		57.20%	
Landscaping Maintenance & Material	18,909.51	17,722.01		1,187.50		35,444.01		53.35%	
Landscape Improvements	2,428.86	2,500.00		(71.14)		5,000.00		48.58%	
Fertilizer / Pesticides	2,160.00	2,160.00		-		4,320.00		50.00%	
Storm Cleanup	-	1,250.00		(1,250.00)		2,500.00		0.00%	
Storm Landscape Replacement	-	1,875.00		(1,875.00)		3,750.00		0.00%	
Capital Expenditures	2,079.36	1,250.00		829.36		2,500.00		83.17%	
Lighting	-	125.00		(125.00)		250.00		0.00%	
Streetlights - Leasing	4,082.69	5,040.00		(957.31)		10,080.00		40.50%	
Golf Cart Maintenance	45.68	187.50		(141.82)		375.00		12.18%	
Total Field Expenses (Outside the Gate; MF)	
$	47,417.30	
$	43,300.30		$	4,117.00		$	86,600.59		54.75%	

Laurel Road CDD
Budget to Actual
For the Month Ending 3/31/2026

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Clubhouse Electric	$	14,762.44	$	5,000.00	$	9,762.44	$	10,000.00	147.62%	
Clubhouse Water	17,263.02	7,500.00	9,763.02	15,000.00	115.09%	
Amenity - Telephone	814.78	4,380.00	(3,565.22)	8,760.00	9.30%	
Amenity - Cable TV / Internet / Wi-Fi	9,344.49	6,500.00	2,844.49	13,000.00	71.88%	
Amenity - Landscape Maintenance	19,772.46	10,000.00	9,772.46	20,000.00	98.86%	
Amenity - Irrigation Repairs	1,440.00	5,000.00	(3,560.00)	10,000.00	14.40%	
Amenity - Pool Maintenance	9,491.98	9,312.00	179.98	18,624.00	50.97%	
Amenity - Access Control Maintenance	6,153.84	750.00	5,403.84	1,500.00	410.26%	
Amenity - Pool Equipment	16.74	500.00	(483.26)	1,000.00	1.67%	
Amenity - Cleaning	17,357.25	19,300.00	(1,942.75)	38,600.00	44.97%	
Amenity - Pest Control	1,743.55	3,000.00	(1,256.45)	6,000.00	29.06%	
Amenity - Fitness Equipment Leasing	15,291.02	15,091.02	200.00	30,182.04	50.66%	
Amenity - Security Monitoring	6,722.62	3,050.00	3,672.62	6,100.00	110.21%	
Amenity - Office Equipment Leasing	2,663.69	2,500.00	163.69	5,000.00	53.27%	
Amenity - Capital Outlay	1,927.35	3,750.00	(1,822.65)	7,500.00	25.70%	
Amenity - Miscellaneous	1,447.95	1,250.00	197.95	2,500.00	57.92%	
Amenity - A/C Maintenance and Equipment	5,195.00	750.00	4,445.00	1,500.00	346.33%	
Amenity - Gas	259.88	700.00	(440.12)	1,400.00	18.56%	
Amenity - Operations	2,896.47	4,000.00	(1,103.53)	8,000.00	36.21%	
Amenity - Fireplaces and Barbecue	39.14	500.00	(460.86)	1,000.00	3.91%	
Total Vistera - Amenity Expenses	$	134,603.67		$	102,833.02		$	31,770.65		$	205,666.04		65.45%	

Total Expenses	
 $	518,876.23 	
 $  433,255.69 	
 $	85,620.54 	
 $  866,511.36 	
	59.88%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	4,856.54	$	-	$	4,856.54	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	4,856.54		$	-		$	4,856.54		$	-		
Net Income (Loss)	$	237,527.54		$	-		$	237,527.54		$	-