Laurel Road
Community Development District
April 2026 Financial Package

April 30, 2026

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

Laurel Road CDD
Statement of Financial Position As of 4/30/2026	
	
General Fund		Debt Service Fund		Capital Projects Fund		
Long-Term Debt			
Total	
				
Assets									
Current Assets											
General Checking Account	$	199,040.76								$	199,040.76	
Accounts Receivable	1,114.41									1,114.41	
On-Roll Assessments Receivable	4,538.91									4,538.91	
Off-Roll Assessments Receivable	64,398.20									64,398.20	
Prepaid Expenses	12,082.73									12,082.73	
Deposits	4,350.00									4,350.00	
On-Roll Assessments Receivable			$	5,678.91							5,678.91	
Due From Other Funds			5,069.41							5,069.41	
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			793,860.82							793,860.82	
Series 2021A2 Interest			2,734.53							2,734.53	
Series 2021A1 Prepayment			165.08							165.08	
Series 2021A2 Prepayment			353,799.90							353,799.90	
Construction Checking Account					$	21,589.62					21,589.62	
Accounts Receivable - Due from Developer					106,186.97					106,186.97	
Prepaid Expenses					336.22					336.22	
Deposits					50.00					50.00	
Total Current Assets	$	285,525.01		$ 1,550,680.53		$	128,162.81		$	-		$	1,964,368.35	

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

$	1,539,932.21		

$	

1,539,932.21	
									13,335,067.79			13,335,067.79	
	$	-		$	-		$	-		$ 14,875,000.00		$	14,875,000.00	
Total Assets	$	285,525.01		$ 1,550,680.53		$	128,162.81		$ 14,875,000.00		$	16,839,368.35	

Laurel Road CDD

Long-Term Debt			Total	

$	

11,243.32	
				1,614.41	
				4,538.91	
				64,398.20	
				5,678.91	
				106,186.97	
				91,992.19	
				106,186.97	
$	-		$	391,839.88	

$ 14,875,000.00		
$	
14,875,000.00	
$ 14,875,000.00		$	14,875,000.00	
$ 14,875,000.00		$	15,266,839.88	

$	

(16,545.33)	
			(8,317.44)	
			126,143.91	
			102,449.03	
			1,142,003.21	
			402,998.41	
			(99,574.77)	
			(76,628.55)	
$	-		$	1,572,528.47	
				
$ 14,875,000.00		$	16,839,368.35	

Statement of Financial Position As of 4/30/2026

General Fund

Debt Service	Capital Projects Fund		Fund

Liabilities and Net Assets

Current Liabilities

Accounts Payable	$	11,243.32				
Deferred Revenue	1,614.41				
Deferred Revenue - On-Roll	4,538.91				
Deferred Revenue - Off-Roll	64,398.20				
Deferred Revenue			$	5,678.91		
Accounts Payable					$	106,186.97	
Retainage Payable					91,992.19	
Deferred Revenue					106,186.97	
Total Current Liabilities	$	81,794.84		$	5,678.91		$	304,366.13	

Long Term Liabilities

Total Liabilities	$	81,794.84		$	5,678.91		$	304,366.13	

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	102,449.03					
Net Assets, Unrestricted			$ 1,142,003.21			

Revenue Bonds Payable - Long-Term Total Long Term Liabilities

402,998.41		
$	
(99,574.77)
(76,628.55)	
$	203,730.17		$	1,545,001.62		$	(176,203.32)	
							
$	285,525.01		$	1,550,680.53		$	128,162.81	

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 4/30/2026	
	
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt		
Total	
Revenues							
On-Roll Assessments Off-Roll Assessments
Other Income & Other Financing Sources On-Roll Assessments
Other Assessments
Inter-Fund Group Transfers In Developer Contributions
Other Income & Other Financing Sources Inter-Fund Transfers In
Total Revenues	$ 517,129.64
193,194.62
1,851.83
$	647,010.96
$	615,124.18
$	1,151.31

	
$ 712,176.09	$ 1,263,286.45	

$	126,002.83
$	29,036.00
$	(1,151.31)

$	153,887.52	

$	-	$

$	517,129.64
193,194.62
1,851.83
647,010.96
615,124.18
1,151.31
126,002.83
29,036.00
(1,151.31)
2,129,350.06	
Expenses
Supervisor Fees
Public Officials' Liability Insurance Trustee Services
Management
Field Management Engineering Disclosure
District Counsel Assessment Administration Audit
Tax Preparation Travel and Per Diem Postage & Shipping Legal Advertising Miscellaneous Office Supplies Property Taxes
Web Site Maintenance Holiday Decorations
Dues, Licenses, and Fees	

$	6,000.00
2,870.00
4,246.25
32,375.00
13,500.00
2,771.00
500.00
4,580.00
5,500.00
5,700.00
71.40
110.07
41.03
829.50
233.17
267.74
783.54
1,720.00
23,887.30
175.00			

$	

6,000.00
2,870.00
4,246.25
32,375.00
13,500.00
2,771.00
500.00
4,580.00
5,500.00
5,700.00
71.40
110.07
41.03
829.50
233.17
267.74
783.54
1,720.00
23,887.30
175.00	

Laurel Road CDD				
Statement of Activities				
As of 4/30/2026				
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt	
Total	
19,987.50			19,987.50	
$	52,356.12		$	52,356.12	
8,039.94			8,039.94	
831.87			831.87	
17,382.55			17,382.55	
20,654.95			20,654.95	
2,300.73			2,300.73	
24,029.86			24,029.86	
6,400.00			6,400.00	
963.02			963.02	
9,576.73			9,576.73	
23,067.87			23,067.87	
1,680.00			1,680.00	
11,043.98			11,043.98	
7,692.30			7,692.30	
20,305.68			20,305.68	
2,228.55			2,228.55	
17,756.19			17,756.19	
6,722.62			6,722.62	
2,663.69			2,663.69	
2,031.34			2,031.34	
1,508.87			1,508.87	
5,195.00			5,195.00	
19.07			19.07	
395.10			395.10	
3,511.95			3,511.95	
39.14			39.14	
13,019.02			13,019.02	
3,508.00			3,508.00	
36,328.00			36,328.00	
500.00			500.00	
20,095.15			20,095.15	
15,616.00			15,616.00	
87,952.69			87,952.69	
9,715.44			9,715.44	

Construction Consultation Lifestyle Staff
Resident Services Electric
Amenity - Electric Amenity - Water Water Reclaimed
Stormwater Management Wetlands Mitigation Amenity - Telephone
Amenity - Cable TV / Internet / Wi-Fi Amenity - Landscape Maintenance Amenity - Irrigation Repairs
Amenity - Pool Maintenance Amenity - Access Control Amenity - Janitorial
Amenity - Pest Control
Amenity - Fitness Equipment Leasing Amenity - Security
Amenity - Office Equipment Leasing Amenity - Capital Outlay
Amenity - Miscellaneous
Amenity - AC Maintenance and Equipment Amenity - Pool Equipment
Amenity - Gas Amenity - Operations
Amenity - Fireplaces and Barbecue Gate Internet Service
General Insurance
Property & Casualty Insurance Other Insurance
Irrigation
Lake Maintenance
Landscaping Maintenance & Material Landscape Improvements

Laurel Road CDD Statement of Activities As of 4/30/2026	
	
General Fund		Debt Service Fund		Capital Projects Fund		Long-Term Debt		
Total	
Fertilizer / Pesticides	10,080.00								10,080.00	
Contingency	$	2,097.59								$	2,097.59	
Lake Bank Mowing	13,902.00								13,902.00	
Gate - Repairs & Maintenance	324.16								324.16	
Dog Waste Stations	1,638.00								1,638.00	
Capital Expenditures	8,317.44								8,317.44	
Street Sweeping	5,700.00								5,700.00	
Streetlights	19,826.14								19,826.14	
Bike Share Maintenance	253.37								253.37	
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					$	24,478.08				24,478.08	
Landscaping Maintenance & Material					133,947.25				133,947.25	
Contingency					72,623.32				72,623.32	
Total Expenses	$623,601.34		$879,385.32		$231,048.65		$0.00		$1,734,035.31	
Other Revenues (Expenses) & Gains (Losses)											
Interest Income	$	5,556.84								$	5,556.84	
Dividend Income			$	19,097.28						19,097.28	
Interest Income					$	27.67				27.67	
Dividend Income					504.91				504.91	
Total Other Revenues (Expenses) & Gains (Losses)	$	5,556.84		$	19,097.28		$	532.58		$	-		$	25,186.70	
Change In Net Assets	$	94,131.59		$	402,998.41		$	(76,628.55)		$	-		$	420,501.45	
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	
$ 203,730.17		
$ 1,545,001.62		
$	
(176,203.32)		
$	-		
$ 1,572,528.47	

Laurel Road CDD
Budget to Actual
For the Month Ending 4/30/2026

YTD Actual			YTD Budget	YTD Variance	Adopted Budget	Percentage	

$	517,129.64		

$		

304,306.65	

$  212,822.99	

$  521,668.55	

99.13%	
193,194.62				150,262.48	42,932.14	257,592.82	75.00%	
1,851.83				-	1,851.83	-		
50,895.83				50,895.83	-	87,250.00	58.33%	
$	763,071.92		$		505,464.96	$  257,606.96	$  866,511.37	88.06%	

$	6,000.00		
$		
7,000.00	
$	(1,000.00)	
$	12,000.00	
50.00%	
2,870.00				1,816.62	1,053.38	3,114.20	92.16%	
4,246.25				2,475.85	1,770.40	4,244.31	100.05%	
32,375.00				32,375.00	-	55,500.00	58.33%	
13,500.00				8,750.00	4,750.00	15,000.00	90.00%	
2,771.00				3,500.00	(729.00)	6,000.00	46.18%	
500.00				583.33	(83.33)	1,000.00	50.00%	
4,580.00				11,666.67	(7,086.67)	20,000.00	22.90%	
5,500.00				3,208.33	2,291.67	5,500.00	100.00%	
-				72.92	(72.92)	125.00	0.00%	
5,700.00				3,325.00	2,375.00	5,700.00	100.00%	
-				291.67	(291.67)	500.00	0.00%	
71.40				36.89	34.51	63.24	112.90%	
110.07				291.67	(181.60)	500.00	22.01%	
-				408.33	(408.33)	700.00	0.00%	
41.03				291.67	(250.64)	500.00	8.21%	
829.50				3,208.33	(2,378.83)	5,500.00	15.08%	
233.17				583.31	(350.14)	1,000.00	23.32%	
267.74				291.67	(23.93)	500.00	53.55%	
783.54				-	783.54	-		
1,720.00				1,820.00	(100.00)	3,120.00	55.13%	
23,887.30				14,583.33	9,303.97	25,000.00	95.55%	
-				291.67	(291.67)	500.00	0.00%	
175.00				102.08	72.92	175.00	100.00%	
19,987.50				-	19,987.50	-		
52,356.12				31,671.97	20,684.15	54,294.80	96.43%	
8,039.94				4,374.07	3,665.87	7,498.40	107.22%	
$	186,544.56		$		133,020.38	$	53,524.18	$  228,034.95	81.81%	

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 Construction Consultation Lifestyle & Maintenance Staff Resident Services
Total General & Administrative Expenses

L	aurel Road CDD							
	Budget to Actual							
For the Month Ending 4/30/2026	

YTD Actual	

YTD Budget		

YTD Variance		
FY 2026
Adopted Budget		

Percentage	

Field Expenses (Inside the Gate; SF)								
Electric	$	623.90	$	4,375.00		$	(3,751.10)		$	7,500.00		8.32%	
Water Reclaimed	1,725.55	2,187.50		(461.95)		3,750.00		46.01%	
Stormwater Management	24,029.86	1,166.67		22,863.19		2,000.00		1201.49%	
Wetland Mitigation	6,400.00	5,250.00		1,150.00		9,000.00		71.11%	
Equipment Rental	-	656.25		(656.25)		1,125.00		0.00%	
Gate Internet Service	13,019.02	1,166.67		11,852.35		2,000.00		650.95%	
General Insurance	2,631.00	1,664.83		966.17		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00	8,864.19		18,381.81		15,195.75		179.30%	
Other Insurance	375.00	-		375.00		-			
Irrigation - Repair and Maintenance	15,071.36	10,920.00		4,151.36		18,720.00		80.51%	
Lake Maintenance	11,712.00	10,500.00		1,212.00		18,000.00		65.07%	
Landscaping Maintenance & Material	65,964.52	62,027.02		3,937.50		106,332.03		62.04%	
Landscape Improvements	7,286.58	8,750.00		(1,463.42)		15,000.00		48.58%	
Fertilizer / Pesticides	7,560.00	7,560.00		-		12,960.00		58.33%	
Contingency	2,097.59	10,150.00		(8,052.41)		17,400.00		12.06%	
Lake Bank Mowing	13,902.00	-		13,902.00		-			
Gate - Repairs & Maintenance	324.16	2,041.67		(1,717.51)		3,500.00		9.26%	
Mulch	-	2,916.67		(2,916.67)		5,000.00		0.00%	
Storm Cleanup	-	4,375.00		(4,375.00)		7,500.00		0.00%	
Storm Landscape Replacement	-	6,562.50		(6,562.50)		11,250.00		0.00%	
Security Monitoring	-	17,500.00		(17,500.00)		30,000.00		0.00%	
Dog Waste Stations	1,638.00	1,638.00		-		2,808.00		58.33%	
Mailbox Maintenance	-	116.67		(116.67)		200.00		0.00%	
Capital Expenditures	6,238.08	4,375.00		1,863.08		7,500.00		83.17%	
Street Sweeping	5,700.00	7,000.00		(1,300.00)		12,000.00		47.50%	
Lighting	-	437.50		(437.50)		750.00		0.00%	
Streetlights - Leasing	14,869.61	17,640.00		(2,770.40)		30,240.00		49.17%	
Bike Share Maintenance	253.37	1,458.33		(1,204.96)		2,500.00		10.13%	
Golf Cart Maintenance	137.04	656.25		(519.21)		1,125.00		12.18%	
Total Field Expenses (Inside the Gate; Only SF)	
$	228,804.64	
$  201,955.72		$	26,848.92		$  346,209.78		66.09%	

Field Expenses (Outside the Gate; MF)								
Electric	$	207.97	$	1,458.33		$	(1,250.36)		$	2,500.00		8.32%	
Water Reclaimed	575.18	729.17		(153.99)		1,250.00		46.01%	
Equipment Rental	-	218.75		(218.75)		375.00		0.00%	
General Insurance	877.00	554.95		322.05		951.34		92.19%	
Property & Casualty Insurance	9,082.00	2,954.73		6,127.27		5,065.25		179.30%	
Other Insurance	125.00	-		125.00		-			
Irrigation - Repair and Maintenance	5,023.79	3,640.00		1,383.79		6,240.00		80.51%	
Lake Maintenance	3,904.00	3,500.00		404.00		6,000.00		65.07%	
Landscaping Maintenance & Material	21,988.17	20,675.67		1,312.50		35,444.01		62.04%	
Landscape Improvements	2,428.86	2,916.67		(487.81)		5,000.00		48.58%	
Fertilizer / Pesticides	2,520.00	2,520.00		-		4,320.00		58.33%	
Storm Cleanup	-	1,458.33		(1,458.33)		2,500.00		0.00%	
Storm Landscape Replacement	-	2,187.50		(2,187.50)		3,750.00		0.00%	
Capital Expenditures	2,079.36	1,458.33		621.03		2,500.00		83.17%	
Lighting	-	145.83		(145.83)		250.00		0.00%	
Streetlights - Leasing	4,956.54	5,880.00		(923.47)		10,080.00		49.17%	
Golf Cart Maintenance	45.68	218.75		(173.07)		375.00		12.18%	
Total Field Expenses (Outside the Gate; MF)	
$	53,813.55	
$	50,517.01		$	3,296.54		$	86,600.59		62.14%	

Laurel Road CDD
Budget to Actual
For the Month Ending 4/30/2026

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Amenity - Electric	$	17,382.55	$	5,833.33	$	11,549.22	$	10,000.00	173.83%	
Amenity - Water	20,654.95	8,750.00	11,904.95	15,000.00	137.70%	
Amenity - Telephone	963.02	5,110.00	(4,146.98)	8,760.00	10.99%	
Amenity - Cable TV / Internet / Wi-Fi	9,576.73	7,583.33	1,993.40	13,000.00	73.67%	
Amenity - Landscape Maintenance	23,067.87	11,666.67	11,401.20	20,000.00	115.34%	
Amenity - Irrigation Repairs	1,680.00	5,833.33	(4,153.33)	10,000.00	16.80%	
Amenity - Pool Maintenance	11,043.98	10,864.00	179.98	18,624.00	59.30%	
Amenity - Access Control Maintenance	7,692.30	875.00	6,817.30	1,500.00	512.82%	
Amenity - Pool Equipment	19.07	583.33	(564.26)	1,000.00	1.91%	
Amenity - Cleaning	20,305.68	22,516.67	(2,210.99)	38,600.00	52.61%	
Amenity - Pest Control	2,228.55	3,500.00	(1,271.45)	6,000.00	37.14%	
Amenity - Fitness Equipment Leasing	17,756.19	17,606.19	150.00	30,182.04	58.83%	
Amenity - Security Monitoring	6,722.62	3,558.33	3,164.29	6,100.00	110.21%	
Amenity - Office Equipment Leasing	2,663.69	2,916.67	(252.98)	5,000.00	53.27%	
Amenity - Capital Outlay	2,031.34	4,375.00	(2,343.66)	7,500.00	27.08%	
Amenity - Miscellaneous	1,508.87	1,458.33	50.54	2,500.00	60.35%	
Amenity - A/C Maintenance and Equipment	5,195.00	875.00	4,320.00	1,500.00	346.33%	
Amenity - Gas	395.10	816.67	(421.57)	1,400.00	28.22%	
Amenity - Operations	3,511.95	4,666.67	(1,154.72)	8,000.00	43.90%	
Amenity - Fireplaces and Barbecue	39.14	583.33	(544.19)	1,000.00	3.91%	
Total Vistera - Amenity Expenses	$	154,438.60		$	119,971.85		$	34,466.75		$	205,666.04		75.09%	

Total Expenses	
 $	623,601.34 	
 $  505,464.96 	
 $  118,136.38 	
 $  866,511.36 	
	71.97%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	5,556.84	$	-	$	5,556.84	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	5,556.84		$	-		$	5,556.84		$	-		
Net Income (Loss)	$	145,027.42		$	-		$	145,027.42		$	-