Laurel Road
Community Development District
June 2026 Financial Package

June 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 6/30/2026	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt			
Total	
			
Assets							
Current Assets										
General Checking Account	$	104,478.10							$	104,478.10	
Accounts Receivable	930.81								930.81	
Prepaid Expenses	12,369.15								12,369.15	
Deposits	4,350.00								4,350.00	
Due From Other Funds			$	1,821.83						1,821.83	
Series 2021A1 Debt Service Reserve			326,871.88						326,871.88	
Series 2021A2 Debt Service Reserve			54,296.88						54,296.88	
Series 2026 Debt Service Reserve			197,422.50						197,422.50	
Series 2021A Revenue			297,699.72						297,699.72	
Series 2021A2 Interest			4,729.33						4,729.33	
Series 2021A1 Prepayment			166.04						166.04	
Series 2021A2 Prepayment			266,320.83						266,320.83	
Series 2026 Capitalized Interest			109,906.15						109,906.15	
Construction Checking Account				$	5,567.51					5,567.51	
Accounts Receivable - Due from Developer				103,971.21					103,971.21	
Series 2026 Acquisition/Construction				5,107,284.00					5,107,284.00	
Series 2026 Cost of Issuance				24,580.00					24,580.00	
Prepaid Expenses				336.22					336.22	
Deposits				50.00					50.00	
Total Current Assets	$	122,128.06		$ 1,259,235.16	$ 5,241,788.94		$	-		$	6,623,152.16	

Investments										
Amount Available in Debt Service Funds						1,257,413.33			1,257,413.33	
Amount To Be Provided				
		18,752,586.67			18,752,586.67	
Total Investments	$	-		$	-	$	-		$ 20,010,000.00		$	20,010,000.00	
Total Assets	$	122,128.06		$ 1,259,235.16	$ 5,241,788.94		$ 20,010,000.00		$	26,633,152.16	

Laurel Road CDD

As of 6/30/2026	

General Fund	
Debt Service Fund	
Capital Projects Fund	
Liabilities and Net Assets	

$	13,825.77			
1,430.81			
		$	689,359.19	
		24,212.40	
		103,971.21	

Long-Term Debt			Total	

$	

13,825.77	
				1,430.81	
				689,359.19	
				24,212.40	
				103,971.21	
$	-		$	832,799.38	

$ 20,010,000.00		
$	
20,010,000.00	
$ 20,010,000.00		$	20,010,000.00	
$ 20,010,000.00		$	20,842,799.38	

$	

(16,545.33)	
				126,143.91	
				(2,727.10)	
				1,142,003.21	
				117,231.95	
				(99,574.77)	
				4,523,820.91	
$	-		$	5,790,352.78	
					
$ 20,010,000.00		$	26,633,152.16	

Statement of Financial Position

Current Liabilities Accounts Payable Deferred Revenue Accounts Payable Retainage Payable Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term

$	15,256.58	$	-	$	817,542.80

Total Long Term Liabilities	$	-		$	-		$	-	
Total Liabilities	$	15,256.58		$	-		$	817,542.80	

Net Assets
Net Assets, Unrestricted	

$	(16,545.33)					
Net Assets - General Government	126,143.91					
Current Year Net Assets - General Government	(2,727.10)					
Net Assets, Unrestricted			$ 1,142,003.21			
Current Year Net Assets, Unrestricted			117,231.95			
Net Assets, Unrestricted					$	(99,574.77)	
Current Year Net Assets, Unrestricted					4,523,820.91	
Total Net Assets	$	106,871.48		$ 1,259,235.16		$ 4,424,246.14	
						
Total Liabilities and Net Assets	$	122,128.06		$ 1,259,235.16		$ 5,241,788.94	

Laurel Road CDD Statement of Activities As of 6/30/2026	
	
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt		
Total	
Revenues							
On-Roll Assessments	$ 524,175.83				$	524,175.83	
Off-Roll Assessments	257,592.82					257,592.82	
Other Income & Other Financing Sources	2,405.40					2,405.40	
On-Roll Assessments		$	655,826.85				655,826.85	
Other Assessments		870,299.39				870,299.39	
Inter-Fund Group Transfers In		1,151.31				1,151.31	
Debt Proceeds		422,128.65				422,128.65	
Developer Contributions			$	234,656.80			234,656.80	
Other Income & Other Financing Sources			99,067.50			99,067.50	
Inter-Fund Transfers In			33,052.50			33,052.50	
Debt Proceeds			5,313,364.00			5,313,364.00	
Total Revenues	

$ 784,174.05	

$ 1,949,406.20	

$ 5,680,140.80	

$	-	$	8,413,721.05	
Expenses						
Supervisor Fees	$	8,000.00			$	8,000.00	
Public Officials' Liability Insurance	2,870.00				2,870.00	
Trustee Services	4,246.25				4,246.25	
Management	41,625.00				41,625.00	
Field Management	23,625.00				23,625.00	
Engineering	5,937.00				5,937.00	
Disclosure	500.00				500.00	
District Counsel	11,567.00				11,567.00	
Assessment Administration	5,500.00				5,500.00	
Audit	5,700.00				5,700.00	
Tax Preparation	71.40				71.40	
Travel and Per Diem	110.07				110.07	
Postage & Shipping	94.00				94.00	
Legal Advertising	1,450.75				1,450.75	
Miscellaneous	665.46				665.46	
Office Supplies	425.15				425.15	
Property Taxes	783.54				783.54	
Web Site Maintenance	2,040.00				2,040.00	
Holiday Decorations	23,887.30				23,887.30	

Laurel Road CDD				
Statement of Activities				
As of 6/30/2026				
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt	
Total	
175.00			175.00	
$	24,472.50		$	24,472.50	
65,596.45			65,596.45	
8,661.48			8,661.48	
1,091.45			1,091.45	
22,963.75			22,963.75	
26,943.39			26,943.39	
3,901.17			3,901.17	
31,626.47			31,626.47	
9,600.00			9,600.00	
1,272.49			1,272.49	
14,502.97			14,502.97	
29,658.69			29,658.69	
2,160.00			2,160.00	
14,147.98			14,147.98	
26,574.91			26,574.91	
3,273.55			3,273.55	
23,535.04			23,535.04	
6,855.62			6,855.62	
3,845.62			3,845.62	
2,448.73			2,448.73	
1,977.56			1,977.56	
5,281.00			5,281.00	
40.08			40.08	
533.77			533.77	
10,769.22			10,769.22	
5,649.11			5,649.11	
515.13			515.13	
17,867.92			17,867.92	
3,508.00			3,508.00	
36,328.00			36,328.00	
500.00			500.00	
25,070.15			25,070.15	
19,392.00			19,392.00	
113,982.03			113,982.03	
9,715.44			9,715.44	

Dues, Licenses, and Fees 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 6/30/2026	
	
General Fund	Debt Service Fund	Capital Projects Fund	Long-Term Debt		
Total	
Fertilizer / Pesticides	12,960.00					12,960.00	
Contingency	$	2,097.59				$	2,097.59	
Lake Bank Mowing	17,874.00					17,874.00	
Gate - Repairs & Maintenance	1,184.16					1,184.16	
Dog Waste Stations	2,106.00					2,106.00	
Capital Expenditures	8,317.44					8,317.44	
Street Sweeping	7,837.50					7,837.50	
Streetlights	26,816.88					26,816.88	
Bike Share Maintenance	614.06					614.06	
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	
Other Debt Service Costs		114,800.00				114,800.00	
Engineering			$	33,470.47			33,470.47	
District Counsel			35,000.00			35,000.00	
Trustee Counsel			6,750.00			6,750.00	
Bond Counsel			52,000.00			52,000.00	
Assessment Administration			40,500.00			40,500.00	
Landscaping Maintenance & Material			133,947.25			133,947.25	
Contingency			821,301.21			821,301.21	
Inter-Fund Transfers			34,203.81			34,203.81	
Total Expenses	

$ 793,524.94	

$ 1,857,672.19	

$ 1,157,172.74	

$	-	$	3,808,369.87	

Laurel Road CDD Statement of Activities As of 6/30/2026	
	
General Fund		Debt Service Fund		Capital Projects Fund		Long-Term Debt			
Total	
Other Revenues (Expenses) & Gains (Losses)
Interest Income Dividend Income Interest Income Dividend Income
Total Other Revenues (Expenses) & Gains (Losses)	

$	6,623.79							

$	

6,623.79	
		$	25,497.94							25,497.94	
				$	347.94					347.94	
				504.91					504.91	
	$	6,623.79	$	25,497.94		$	852.85		$	-		$	32,974.58	
Change In Net Assets	$	(2,727.10)	$	117,231.95		$ 4,523,820.91		$	-		$	4,638,325.76	
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	
$ 106,871.48	
$ 1,259,235.16		
$ 4,424,246.14		
$	-		
$	
5,790,352.78	

Laurel Road CDD
Budget to Actual
For the Month Ending 6/30/2026

YTD Actual			YTD Budget	YTD Variance	Adopted Budget	Percentage	

$	524,175.83		

$		

391,251.41	

$  132,924.42	

$  521,668.55	

100.48%	
257,592.82				193,194.62	64,398.20	257,592.82	100.00%	
2,405.40				-	2,405.40	-		
65,437.50				65,437.50	-	87,250.00	75.00%	
$	849,611.55		$		649,883.53	$  199,728.02	$  866,511.37	98.05%	

$	8,000.00		
$		
9,000.00	
$	(1,000.00)	
$	12,000.00	
66.67%	
2,870.00				2,335.65	534.35	3,114.20	92.16%	
4,246.25				3,183.23	1,063.02	4,244.31	100.05%	
41,625.00				41,625.00	-	55,500.00	75.00%	
23,625.00				11,250.00	12,375.00	15,000.00	157.50%	
5,937.00				4,500.00	1,437.00	6,000.00	98.95%	
500.00				750.00	(250.00)	1,000.00	50.00%	
11,567.00				15,000.00	(3,433.00)	20,000.00	57.84%	
5,500.00				4,125.00	1,375.00	5,500.00	100.00%	
-				93.75	(93.75)	125.00	0.00%	
5,700.00				4,275.00	1,425.00	5,700.00	100.00%	
-				375.00	(375.00)	500.00	0.00%	
71.40				47.43	23.97	63.24	112.90%	
110.07				375.00	(264.93)	500.00	22.01%	
-				525.00	(525.00)	700.00	0.00%	
94.00				375.00	(281.00)	500.00	18.80%	
1,450.75				4,125.00	(2,674.25)	5,500.00	26.38%	
665.46				750.01	(84.55)	1,000.00	66.55%	
425.15				375.00	50.15	500.00	85.03%	
783.54				-	783.54	-		
2,040.00				2,340.00	(300.00)	3,120.00	65.38%	
23,887.30				18,750.00	5,137.30	25,000.00	95.55%	
-				375.00	(375.00)	500.00	0.00%	
175.00				131.25	43.75	175.00	100.00%	
24,472.50				-	24,472.50	-		
65,596.45				40,721.10	24,875.35	54,294.80	120.82%	
8,661.48				5,623.80	3,037.68	7,498.40	115.51%	
$	238,003.35		$		171,026.22	$	66,977.13	$  228,034.95	104.37%	

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 6/30/2026	

YTD Actual	

YTD Budget		

YTD Variance		
FY 2026
Adopted Budget		

Percentage	

Field Expenses (Inside the Gate; SF)								
Electric	$	818.59	$	5,625.00		$	(4,806.41)		$	7,500.00		10.91%	
Water Reclaimed	2,925.88	2,812.50		113.38		3,750.00		78.02%	
Stormwater Management	31,626.47	1,500.00		30,126.47		2,000.00		1581.32%	
Wetland Mitigation	9,600.00	6,750.00		2,850.00		9,000.00		106.67%	
Equipment Rental	-	843.75		(843.75)		1,125.00		0.00%	
Gate Internet Service	17,867.92	1,500.00		16,367.92		2,000.00		893.40%	
General Insurance	2,631.00	2,140.50		490.50		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00	11,396.81		15,849.19		15,195.75		179.30%	
Other Insurance	375.00	-		375.00		-			
Irrigation - Repair and Maintenance	18,802.61	14,040.00		4,762.61		18,720.00		100.44%	
Lake Maintenance	14,544.00	13,500.00		1,044.00		18,000.00		80.80%	
Landscaping Maintenance & Material	85,486.52	79,749.02		5,737.50		106,332.03		80.40%	
Landscape Improvements	7,286.58	11,250.00		(3,963.42)		15,000.00		48.58%	
Fertilizer / Pesticides	9,720.00	9,720.00		-		12,960.00		75.00%	
Contingency	2,097.59	13,050.00		(10,952.41)		17,400.00		12.06%	
Lake Bank Mowing	17,874.00	-		17,874.00		-			
Gate - Repairs & Maintenance	1,184.16	2,625.00		(1,440.84)		3,500.00		33.83%	
Mulch	-	3,750.00		(3,750.00)		5,000.00		0.00%	
Storm Cleanup	-	5,625.00		(5,625.00)		7,500.00		0.00%	
Storm Landscape Replacement	-	8,437.50		(8,437.50)		11,250.00		0.00%	
Security Monitoring	-	22,500.00		(22,500.00)		30,000.00		0.00%	
Dog Waste Stations	2,106.00	2,106.00		-		2,808.00		75.00%	
Mailbox Maintenance	-	150.00		(150.00)		200.00		0.00%	
Capital Expenditures	6,238.08	5,625.00		613.08		7,500.00		83.17%	
Street Sweeping	7,837.50	9,000.00		(1,162.50)		12,000.00		65.31%	
Lighting	-	562.50		(562.50)		750.00		0.00%	
Streetlights - Leasing	20,112.66	22,680.00		(2,567.34)		30,240.00		66.51%	
Bike Share Maintenance	614.06	1,875.00		(1,260.94)		2,500.00		24.56%	
Golf Cart Maintenance	137.04	843.75		(706.71)		1,125.00		12.18%	
Total Field Expenses (Inside the Gate; Only SF)	
$	287,131.66	
$  259,657.33		$	27,474.33		$  346,209.78		82.94%	

Field Expenses (Outside the Gate; MF)								
Electric	$	272.86	$	1,875.00		$	(1,602.14)		$	2,500.00		10.91%	
Water Reclaimed	975.29	937.50		37.79		1,250.00		78.02%	
Equipment Rental	-	281.25		(281.25)		375.00		0.00%	
General Insurance	877.00	713.50		163.50		951.34		92.19%	
Property & Casualty Insurance	9,082.00	3,798.94		5,283.06		5,065.25		179.30%	
Other Insurance	125.00	-		125.00		-			
Irrigation - Repair and Maintenance	6,267.54	4,680.00		1,587.54		6,240.00		100.44%	
Lake Maintenance	4,848.00	4,500.00		348.00		6,000.00		80.80%	
Landscaping Maintenance & Material	28,495.51	26,583.01		1,912.50		35,444.01		80.40%	
Landscape Improvements	2,428.86	3,750.00		(1,321.14)		5,000.00		48.58%	
Fertilizer / Pesticides	3,240.00	3,240.00		-		4,320.00		75.00%	
Storm Cleanup	-	1,875.00		(1,875.00)		2,500.00		0.00%	
Storm Landscape Replacement	-	2,812.50		(2,812.50)		3,750.00		0.00%	
Capital Expenditures	2,079.36	1,875.00		204.36		2,500.00		83.17%	
Lighting	-	187.50		(187.50)		250.00		0.00%	
Streetlights - Leasing	6,704.22	7,560.00		(855.78)		10,080.00		66.51%	
Golf Cart Maintenance	45.68	281.25		(235.57)		375.00		12.18%	
Total Field Expenses (Outside the Gate; MF)	
$	65,441.32	
$	64,950.45		$	490.87		$	86,600.59		75.57%	

Laurel Road CDD
Budget to Actual
For the Month Ending 6/30/2026

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Amenity - Electric	$	22,963.75	$	7,500.00	$	15,463.75	$	10,000.00	229.64%	
Amenity - Water	26,943.39	11,250.00	15,693.39	15,000.00	179.62%	
Amenity - Telephone	1,272.49	6,570.00	(5,297.51)	8,760.00	14.53%	
Amenity - Cable TV / Internet / Wi-Fi	14,502.97	9,750.00	4,752.97	13,000.00	111.56%	
Amenity - Landscape Maintenance	29,658.69	15,000.00	14,658.69	20,000.00	148.29%	
Amenity - Irrigation Repairs	2,160.00	7,500.00	(5,340.00)	10,000.00	21.60%	
Amenity - Pool Maintenance	14,147.98	13,968.00	179.98	18,624.00	75.97%	
Amenity - Cleaning	26,574.91	28,950.00	(2,375.09)	38,600.00	68.85%	
Amenity - Pest Control	3,273.55	4,500.00	(1,226.45)	6,000.00	54.56%	
Amenity - Fitness Equipment Leasing	23,535.04	22,636.53	898.51	30,182.04	77.98%	
Amenity - Security Monitoring	6,855.62	4,575.00	2,280.62	6,100.00	112.39%	
Amenity - Office Equipment Leasing	3,845.62	3,750.00	95.62	5,000.00	76.91%	
Amenity - Capital Outlay	2,448.73	5,625.00	(3,176.27)	7,500.00	32.65%	
Amenity - Miscellaneous	1,977.56	1,875.00	102.56	2,500.00	79.10%	
Amenity - A/C Maintenance and Equipment	5,281.00	1,125.00	4,156.00	1,500.00	352.07%	
Amenity - Pool Equipment	40.08	750.00	(709.92)	1,000.00	4.01%	
Amenity - Gas	533.77	1,050.00	(516.23)	1,400.00	38.13%	
Amenity - Access Control Maintenance	10,769.22	1,125.00	9,644.22	1,500.00	717.95%	
Amenity - Operations	5,649.11	6,000.00	(350.89)	8,000.00	70.61%	
Amenity - Fireplaces and Barbecue	515.13	750.00	(234.87)	1,000.00	51.51%	
Total Vistera - Amenity Expenses	$	202,948.61		$	154,249.53		$	48,699.08		$	205,666.04		98.68%	

Total Expenses	
 $	793,524.94 	
 $  649,883.53 	
 $  143,641.41 	
 $  866,511.36 	
	91.58%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	6,623.79	$	-	$	6,623.79	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	6,623.79		$	-		$	6,623.79		$	-		
Net Income (Loss)	$	62,710.40		$	-		$	62,710.40		$	-