Laurel Road
Community Development District
May 2026 Financial Package

May 31, 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 5/31/2026	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt			
Total	
			
Assets								
Current Assets											
General Checking Account	$	185,268.41								$	185,268.41	
Prepaid Expenses	12,369.15									12,369.15	
Deposits	4,350.00									4,350.00	
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			295,684.40							295,684.40	
Series 2021A2 Interest			4,206.95							4,206.95	
Series 2021A1 Prepayment			165.55							165.55	
Series 2021A2 Prepayment			192,278.62							192,278.62	
Construction Checking Account					$	185.17					185.17	
Accounts Receivable - Due from Developer					117,761.62					117,761.62	
Prepaid Expenses					336.22					336.22	
Deposits					50.00					50.00	
Total Current Assets	$	201,987.56		$	881,707.40		$	118,333.01		$	-		$	1,202,027.97	

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

$	881,707.40		

$	

881,707.40	
									13,388,292.60			13,388,292.60	
	$	-		$	-		$	-		$ 14,270,000.00		$	14,270,000.00	
Total Assets	$	201,987.56		$	881,707.40		$	118,333.01		$ 14,270,000.00		$	15,472,027.97	

Laurel Road CDD

Long-Term Debt			Total	

$	

12,020.36	
				500.00	
				117,761.62	
				91,992.19	
				117,761.62	
$	-		$	340,035.79	

$ 14,270,000.00		
$	
14,270,000.00	
$ 14,270,000.00		$	14,270,000.00	
$ 14,270,000.00		$	14,610,035.79	

$	

(16,545.33)	
				126,143.91	
				79,868.62	
				1,142,003.21	
				(260,295.81)	
				(99,574.77)	
				(109,607.65)	
$	-		$	861,992.18	
					
$ 14,270,000.00		$	15,472,027.97	

Statement of Financial Position As of 5/31/2026

General Fund

Debt Service	Capital Projects Fund		Fund

	Liabilities and Net Assets		
Current Liabilities			
Accounts Payable	$	12,020.36		
Deferred Revenue	500.00		
Accounts Payable		$	117,761.62	
Retainage Payable		91,992.19	
Deferred Revenue		117,761.62	
Total Current Liabilities	$	12,520.36		$	-		$	327,515.43	

Long Term Liabilities

Total Long Term Liabilities	$	-		$	-	$	-	
Total Liabilities	$	12,520.36		$	-	$	327,515.43	

Net Assets
Net Assets, Unrestricted	

$	(16,545.33)			
Net Assets - General Government	126,143.91			
Current Year Net Assets - General Government	79,868.62			
Net Assets, Unrestricted			$ 1,142,003.21	

Revenue Bonds Payable - Long-Term

(260,295.81)		
$	
(99,574.77)
(109,607.65)	
$	189,467.20		$	881,707.40		$	(209,182.42)	
							
$	201,987.56		$	881,707.40		$	118,333.01	

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 5/31/2026	
	
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt		
Total	
Revenues							
On-Roll Assessments Off-Roll Assessments
Other Income & Other Financing Sources On-Roll Assessments
Other Assessments
Inter-Fund Group Transfers In Developer Contributions
Other Income & Other Financing Sources Inter-Fund Transfers In
Total Revenues	$ 522,719.71
257,592.82
2,257.04
$	654,005.02
804,050.84
1,151.31

	
$ 782,569.57	$ 1,459,207.17	

$	231,443.80
17,703.96
(1,151.31)

$	247,996.45	

$	-	$

$	522,719.71
257,592.82
2,257.04
654,005.02
804,050.84
1,151.31
231,443.80
17,703.96
(1,151.31)
2,489,773.19	
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	

$	7,000.00
2,870.00
4,246.25
37,000.00
20,250.00
4,964.00
500.00
4,580.00
5,500.00
5,700.00
71.40
110.07
42.51
988.25
233.17
409.18
783.54
1,880.00
23,887.30
175.00			

$	

7,000.00
2,870.00
4,246.25
37,000.00
20,250.00
4,964.00
500.00
4,580.00
5,500.00
5,700.00
71.40
110.07
42.51
988.25
233.17
409.18
783.54
1,880.00
23,887.30
175.00	

Laurel Road CDD				
Statement of Activities				
As of 5/31/2026				
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt	
Total	
$	24,472.50		$	24,472.50	
58,642.11			58,642.11	
7,383.89			7,383.89	
961.12			961.12	
20,108.94			20,108.94	
23,905.28			23,905.28	
3,497.22			3,497.22	
27,834.77			27,834.77	
6,400.00			6,400.00	
1,111.28			1,111.28	
12,752.83			12,752.83	
26,363.28			26,363.28	
1,920.00			1,920.00	
12,595.98			12,595.98	
23,182.04			23,182.04	
3,063.55			3,063.55	
20,462.94			20,462.94	
6,722.62			6,722.62	
3,402.01			3,402.01	
2,438.34			2,438.34	
1,909.22			1,909.22	
5,195.00			5,195.00	
40.08			40.08	
458.87			458.87	
9,230.76			9,230.76	
4,985.53			4,985.53	
39.14			39.14	
15,638.42			15,638.42	
3,508.00			3,508.00	
36,328.00			36,328.00	
500.00			500.00	
22,990.15			22,990.15	
17,504.00			17,504.00	
101,667.36			101,667.36	
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 - 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 - Access Control Maintenance 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 5/31/2026

Debt Service	Capital Projects	Long-Term		
Fund	Fund	Debt		

General Fund	Total

Fertilizer / Pesticides	$	11,520.00						$	11,520.00	
Contingency	2,097.59						2,097.59	
Lake Bank Mowing	15,888.00						15,888.00	
Gate - Repairs & Maintenance	324.16						324.16	
Dog Waste Stations	1,872.00						1,872.00	
Capital Expenditures	8,317.44						8,317.44	
Street Sweeping	6,887.50						6,887.50	
Streetlights	23,321.51						23,321.51	
Bike Share Maintenance	351.39						351.39	
Golf Cart Maintenance	182.72						182.72	
Series 2021 A1 Principal Payments			$	255,000.00				255,000.00	
Series 2021 A2 Principal Payments			960,000.00				960,000.00	
Series 2021 A1 Interest Payments			397,442.50				397,442.50	
Series 2021 A2 Interest Payments			130,429.69				130,429.69	
Engineering					$	28,477.47		28,477.47	
Landscaping Maintenance & Material					133,947.25		133,947.25	
Contingency					195,897.13		195,897.13	
Total Expenses	$ 708,883.65		$ 1,742,872.19		$	358,321.85		$	-	$ 2,810,077.69	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	6,182.70						$	6,182.70	
Dividend Income			$	23,369.21				23,369.21	
Interest Income					$	212.84		212.84	
Dividend Income					504.91		504.91	
Total Other Revenues (Expenses) & Gains (Losses)	$	6,182.70		$	23,369.21		$	717.75		$	-	$	30,269.66	
Change In Net Assets	$	79,868.62		$	(260,295.81)		$  (109,607.65)		$	-	$	(290,034.84)	
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	
$ 189,467.20		
$	881,707.40		
$  (209,182.42)			

$	-	$	861,992.18	

Laurel Road CDD
Budget to Actual
For the Month Ending 5/31/2026

YTD Actual			YTD Budget	YTD Variance	Adopted Budget	Percentage	

$	522,719.71		

$		

347,779.03	

$  174,940.68	

$  521,668.55	

100.20%	
257,592.82				171,728.55	85,864.27	257,592.82	100.00%	
2,257.04				-	2,257.04	-		
58,166.67				58,166.67	-	87,250.00	66.67%	
$	840,736.24		$		577,674.25	$  263,061.99	$  866,511.37	97.03%	

$	7,000.00		
$		
8,000.00	
$	(1,000.00)	
$	12,000.00	
58.33%	
2,870.00				2,076.13	793.87	3,114.20	92.16%	
4,246.25				2,829.54	1,416.71	4,244.31	100.05%	
37,000.00				37,000.00	-	55,500.00	66.67%	
20,250.00				10,000.00	10,250.00	15,000.00	135.00%	
4,964.00				4,000.00	964.00	6,000.00	82.73%	
500.00				666.67	(166.67)	1,000.00	50.00%	
4,580.00				13,333.33	(8,753.33)	20,000.00	22.90%	
5,500.00				3,666.67	1,833.33	5,500.00	100.00%	
-				83.33	(83.33)	125.00	0.00%	
5,700.00				3,800.00	1,900.00	5,700.00	100.00%	
-				333.33	(333.33)	500.00	0.00%	
71.40				42.16	29.24	63.24	112.90%	
110.07				333.33	(223.26)	500.00	22.01%	
-				466.67	(466.67)	700.00	0.00%	
42.51				333.33	(290.82)	500.00	8.50%	
988.25				3,666.67	(2,678.42)	5,500.00	17.97%	
233.17				666.68	(433.51)	1,000.00	23.32%	
409.18				333.33	75.85	500.00	81.84%	
783.54				-	783.54	-		
1,880.00				2,080.00	(200.00)	3,120.00	60.26%	
23,887.30				16,666.67	7,220.63	25,000.00	95.55%	
-				333.33	(333.33)	500.00	0.00%	
175.00				116.67	58.33	175.00	100.00%	
24,472.50				-	24,472.50	-		
58,642.11				36,196.53	22,445.58	54,294.80	108.01%	
7,383.89				4,998.93	2,384.96	7,498.40	98.47%	
$	211,689.17		$		152,023.30	$	59,665.87	$  228,034.95	92.83%	

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 5/31/2026	

YTD Actual	

YTD Budget		

YTD Variance		
FY 2026
Adopted Budget		

Percentage	

Field Expenses (Inside the Gate; SF)								
Electric	$	720.84	$	5,000.00		$	(4,279.16)		$	7,500.00		9.61%	
Water Reclaimed	2,622.92	2,500.00		122.92		3,750.00		69.94%	
Stormwater Management	27,834.77	1,333.33		26,501.44		2,000.00		1391.74%	
Wetland Mitigation	6,400.00	6,000.00		400.00		9,000.00		71.11%	
Equipment Rental	-	750.00		(750.00)		1,125.00		0.00%	
Gate Internet Service	15,638.42	1,333.33		14,305.09		2,000.00		781.92%	
General Insurance	2,631.00	1,902.67		728.33		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00	10,130.50		17,115.50		15,195.75		179.30%	
Other Insurance	375.00	-		375.00		-			
Irrigation - Repair and Maintenance	17,242.61	12,480.00		4,762.61		18,720.00		92.11%	
Lake Maintenance	13,128.00	12,000.00		1,128.00		18,000.00		72.93%	
Landscaping Maintenance & Material	76,250.52	70,888.02		5,362.50		106,332.03		71.71%	
Landscape Improvements	7,286.58	10,000.00		(2,713.42)		15,000.00		48.58%	
Fertilizer / Pesticides	8,640.00	8,640.00		-		12,960.00		66.67%	
Contingency	2,097.59	11,600.00		(9,502.41)		17,400.00		12.06%	
Lake Bank Mowing	15,888.00	-		15,888.00		-			
Gate - Repairs & Maintenance	324.16	2,333.33		(2,009.17)		3,500.00		9.26%	
Mulch	-	3,333.33		(3,333.33)		5,000.00		0.00%	
Storm Cleanup	-	5,000.00		(5,000.00)		7,500.00		0.00%	
Storm Landscape Replacement	-	7,500.00		(7,500.00)		11,250.00		0.00%	
Security Monitoring	-	20,000.00		(20,000.00)		30,000.00		0.00%	
Dog Waste Stations	1,872.00	1,872.00		-		2,808.00		66.67%	
Mailbox Maintenance	-	133.33		(133.33)		200.00		0.00%	
Capital Expenditures	6,238.08	5,000.00		1,238.08		7,500.00		83.17%	
Street Sweeping	6,887.50	8,000.00		(1,112.50)		12,000.00		57.40%	
Lighting	-	500.00		(500.00)		750.00		0.00%	
Streetlights - Leasing	17,491.13	20,160.00		(2,668.87)		30,240.00		57.84%	
Bike Share Maintenance	351.39	1,666.67		(1,315.28)		2,500.00		14.06%	
Golf Cart Maintenance	137.04	750.00		(612.96)		1,125.00		12.18%	
Total Field Expenses (Inside the Gate; Only SF)	
$	257,303.55	
$  230,806.51		$	26,497.04		$  346,209.78		74.32%	

Field Expenses (Outside the Gate; MF)								
Electric	$	240.28	$	1,666.67		$	(1,426.39)		$	2,500.00		9.61%	
Water Reclaimed	874.31	833.33		40.97		1,250.00		69.94%	
Equipment Rental	-	250.00		(250.00)		375.00		0.00%	
General Insurance	877.00	634.23		242.77		951.34		92.19%	
Property & Casualty Insurance	9,082.00	3,376.83		5,705.17		5,065.25		179.30%	
Other Insurance	125.00	-		125.00		-			
Irrigation - Repair and Maintenance	5,747.54	4,160.00		1,587.54		6,240.00		92.11%	
Lake Maintenance	4,376.00	4,000.00		376.00		6,000.00		72.93%	
Landscaping Maintenance & Material	25,416.84	23,629.34		1,787.50		35,444.01		71.71%	
Landscape Improvements	2,428.86	3,333.33		(904.47)		5,000.00		48.58%	
Fertilizer / Pesticides	2,880.00	2,880.00		-		4,320.00		66.67%	
Storm Cleanup	-	1,666.67		(1,666.67)		2,500.00		0.00%	
Storm Landscape Replacement	-	2,500.00		(2,500.00)		3,750.00		0.00%	
Capital Expenditures	2,079.36	1,666.67		412.69		2,500.00		83.17%	
Lighting	-	166.67		(166.67)		250.00		0.00%	
Streetlights - Leasing	5,830.38	6,720.00		(889.62)		10,080.00		57.84%	
Golf Cart Maintenance	45.68	250.00		(204.32)		375.00		12.18%	
Total Field Expenses (Outside the Gate; MF)	
$	60,003.24	
$	57,733.74		$	2,269.50		$	86,600.59		69.29%	

Laurel Road CDD
Budget to Actual
For the Month Ending 5/31/2026

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Amenity - Electric	$	20,108.94	$	6,666.67	$	13,442.27	$	10,000.00	201.09%	
Amenity - Water	23,905.28	10,000.00	13,905.28	15,000.00	159.37%	
Amenity - Telephone	1,111.28	5,840.00	(4,728.72)	8,760.00	12.69%	
Amenity - Cable TV / Internet / Wi-Fi	12,752.83	8,666.67	4,086.16	13,000.00	98.10%	
Amenity - Landscape Maintenance	26,363.28	13,333.33	13,029.95	20,000.00	131.82%	
Amenity - Irrigation Repairs	1,920.00	6,666.67	(4,746.67)	10,000.00	19.20%	
Amenity - Pool Maintenance	12,595.98	12,416.00	179.98	18,624.00	67.63%	
Amenity - Cleaning	23,182.04	25,733.33	(2,551.29)	38,600.00	60.06%	
Amenity - Pest Control	3,063.55	4,000.00	(936.45)	6,000.00	51.06%	
Amenity - Fitness Equipment Leasing	20,462.94	20,121.36	341.58	30,182.04	67.80%	
Amenity - Security Monitoring	6,722.62	4,066.67	2,655.95	6,100.00	110.21%	
Amenity - Office Equipment Leasing	3,402.01	3,333.33	68.68	5,000.00	68.04%	
Amenity - Capital Outlay	2,438.34	5,000.00	(2,561.66)	7,500.00	32.51%	
Amenity - Miscellaneous	1,909.22	1,666.67	242.55	2,500.00	76.37%	
Amenity - A/C Maintenance and Equipment	5,195.00	1,000.00	4,195.00	1,500.00	346.33%	
Amenity - Pool Equipment	40.08	666.67	(626.59)	1,000.00	4.01%	
Amenity - Gas	458.87	933.33	(474.46)	1,400.00	32.78%	
Amenity - Access Control Maintenance	9,230.76	1,000.00	8,230.76	1,500.00	615.38%	
Amenity - Operations	4,985.53	5,333.33	(347.80)	8,000.00	62.32%	
Amenity - Fireplaces and Barbecue	39.14	666.67	(627.53)	1,000.00	3.91%	
Total Vistera - Amenity Expenses	$	179,887.69		$	137,110.70		$	42,776.99		$	205,666.04		87.47%	

Total Expenses	
 $	708,883.65 	
 $  577,674.25 	
 $  131,209.40 	
 $  866,511.36 	
	81.81%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	6,182.70	$	-	$	6,182.70	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	6,182.70		$	-		$	6,182.70		$	-		
Net Income (Loss)	$	138,035.29		$	-		$	138,035.29		$	-