Lakeside	CDD
Financial Report

PFM Group Consulting LLC 3501 Quadrangle Blvd., Suite 270 Orlando, Florida
Tel: 407-723-5900

Lakeside Preserve CDD	
Statement of Financial Position	
As of 8/31/2025	

General Fund	
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt Fund		

Total	
		
Assets											
Current Assets													
General Checking Account	$	295,655.33									$	295,655.33	
Checking Account - Reserve		15,768.25										15,768.25	
Prepaid Expenses		12,373.27										12,373.27	
Deposits		305.50										305.50	
Series 2019 Debt Service Reserve			$	89,609.37								89,609.37	
Series 2023 Debt Service Reserve				861,262.51								861,262.51	
Series 2019 Revenue				182,363.15								182,363.15	
Series 2023 Revenue				630,349.61								630,349.61	
Series 2019 Prepayment				17.32								17.32	
Series 2023 Prepayment				92,998.14								92,998.14	
Series 2019 General Fund				2.32								2.32	
Series 2019 Sinking Fund				866.18								866.18	
Accounts Receivable - Due from Developer						$	197,448.07					197,448.07	
Series 2023 Acquisition/Construction							20,770.78					20,770.78	
Total Current Assets	$	324,102.35	$ 1,857,468.60		$	218,218.85		$	-		$  2,399,789.80	

Investments													
Amount Available in Debt Service Funds									$  1,857,468.60		$  1,857,468.60	
Amount To Be Provided									10,812,531.40		10,812,531.40	
Total Investments	$	-	$	-		$	-		
$ 12,670,000.00		$ 12,670,000.00	
Total Assets	
$	324,102.35	$ 1,857,468.60		$	218,218.85		
$ 12,670,000.00		$ 15,069,789.80	

Liabilities and Net Assets	
Current Liabilities													
Accounts Payable	$	25,341.80									$	25,341.80	
Accounts Payable						$	246,648.50					246,648.50	
Retainage Payable							701,905.91					701,905.91	
Deferred Revenue							197,448.07					197,448.07	
Total Current Liabilities	$	25,341.80	$	-		$ 1,146,002.48		$	-		$  1,171,344.28	

Long Term Liabilities													
Revenue Bonds Payable - Long-Term									$ 12,670,000.00		$	12,670,000.00	
Total Long Term Liabilities	$	-	$	-		$	-		$ 12,670,000.00		$	12,670,000.00	
Total Liabilities

Net Assets	$	25,341.80	$	-		$	1,146,002.48		$ 12,670,000.00		$	13,841,344.28	
Net Assets, Unrestricted	$	(4,500.00)									$	(4,500.00)	
Net Assets - General Government		153,692.48										153,692.48	
Current Year Net Assets - General Government		149,568.07										149,568.07	
Net Assets, Unrestricted			$	1,748,736.87								1,748,736.87	
Current Year Net Assets, Unrestricted				108,731.73								108,731.73	
Net Assets, Unrestricted						$	(802,714.19)					(802,714.19)	
Current Year Net Assets, Unrestricted							(125,069.44)					(125,069.44)	
Total Net Assets	$	298,760.55	$	1,857,468.60		$	(927,783.63)		$	-		$	1,228,445.52	
													
Total Liabilities and Net Assets	$	324,102.35	$	1,857,468.60		$	218,218.85		$ 12,670,000.00		$	15,069,789.80	

Debt Service	Capital Projects	Long-Term	
Fund	Fund	Debt Fund	

Lakeside Preserve CDD Statement of Activities As of 8/31/2025

Revenues

General Fund

Total

On-Roll Assessments	$	113,427.46						$	113,427.46	
Off-Roll Assessments	244,213.53						244,213.53	
On-Roll Assessments			$	80,573.99				80,573.99	
Off-Roll Assessments			857,537.51				857,537.51	
Other Income & Other Financing Sources			271,548.75				271,548.75	
Inter-Fund Group Transfers In			(28,127.50)				(28,127.50)	
Developer Contributions					$ 3,895,952.45		3,895,952.45	
Inter-Fund Transfers In					28,127.50		28,127.50	
Total Revenues	$	357,640.99		$ 1,181,532.75		$ 3,924,079.95		$	-	$ 5,463,253.69	

Expenses

Supervisor Fees	$	3,000.00						$	3,000.00	
POL Insurance	2,983.00						2,983.00	
Trustee Services	7,802.91						7,802.91	
Management	25,000.00						25,000.00	
Field Management	1,250.00						1,250.00	
Engineering	5,672.50						5,672.50	
Disclosure	6,500.00						6,500.00	
District Counsel	15,506.31						15,506.31	
Assessment Administration	15,000.00						15,000.00	
Audit	6,400.00						6,400.00	
Postage & Shipping	63.50						63.50	
Legal Advertising	1,392.45						1,392.45	
Meeting Room	350.00						350.00	
Web Site Maintenance	2,250.00						2,250.00	
Dues, Licenses, and Fees	175.00						175.00	
Electric	1,002.88						1,002.88	
Amenity - Janitorial	1,800.00						1,800.00	
General Insurance	3,648.00						3,648.00	
Property & Casualty	1,578.00						1,578.00	
Irrigation	9,476.93						9,476.93	
Lake Maintenance	14,112.75						14,112.75	
Landscaping Maintenance & Material	95,351.00						95,351.00	
Landscape Improvements	575.00						575.00	
Principal Payments - S2019 bond			$	220,000.00				220,000.00	
Principal Payments - S2023 bond			130,000.00				130,000.00	
Interest Payments - S2019 bond			777,231.26				777,231.26	
Interest Payments - S2023 bond			2,010.94				2,010.94	
Capital Expenditures					$ 4,051,445.44		4,051,445.44	
Total Expenses	$	220,890.23		$ 1,129,242.20		$ 4,051,445.44		$	-	$ 5,401,577.87	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	12,817.31						$	12,817.31	
Interest Income			$	56,441.18				56,441.18	
Interest Income					$	2,296.05		2,296.05	
Total Other Revenues (Expenses) & Gains (Losses)	$	12,817.31		$	56,441.18		$	2,296.05		$	-	$	71,554.54	
Change In Net Assets	$	149,568.07		$	108,731.73		$  (125,069.44)		$	-	$	133,230.36	

Net Assets At Beginning Of Year	$	149,192.48		$ 1,748,736.87		$  (802,714.19)		$	-	$ 1,095,215.16	

Net Assets At End Of Year	

$	298,760.55		

$ 1,857,468.60		

$  (927,783.63)		 

$	-	$ 1,228,445.52	

Budget to Actual
For the Month Ending 8/31/2025

FY 2025	Percentage YTD Actual	YTD Budget	YTD Variance	Adopted		Spent
Budget

Revenues

On-Roll Assessments	$	113,427.46		$  102,619.44		$	10,808.02		$ 111,948.47		101.32%	
Off-Roll Assessments	244,213.53		223,862.43		20,351.10		244,213.53		100.00%	
Developer Contributions	-		38,500.00		(38,500.00)		42,000.00		0.00%	
Carry Forward Revenue	-		36,666.63		(36,666.63)		40,000.00		0.00%	
Net Revenues	$	357,640.99		$  401,648.50		$	(44,007.51)		$ 438,162.00		81.62%	
General & Administrative Expenses

Supervisor Fees	$	3,000.00		$	4,400.00		$	(1,400.00)		$	4,800.00		62.50%	
POL Insurance	2,983.00		2,811.38		171.62		3,067.00		97.26%	
Trustee Services	7,802.91		7,516.63		286.28		8,200.00		95.16%	
Management	25,000.00		27,500.00		(2,500.00)		30,000.00		83.33%	
Field Management	1,250.00		1,375.00		(125.00)		1,500.00		83.33%	
Engineering	5,672.50		9,166.63		(3,494.13)		10,000.00		56.73%	
Disclosure	6,500.00		9,166.63		(2,666.63)		10,000.00		65.00%	
Property Appraiser	-		9,166.63		(9,166.63)		10,000.00		0.00%	
District Counsel	15,506.31		14,666.63		839.68		16,000.00		96.91%	
Assessment Administration	15,000.00		13,750.00		1,250.00		15,000.00		100.00%	
Reamortization Schedules	-		916.63		(916.63)		1,000.00		0.00%	
Audit	6,400.00		5,958.37		441.63		6,500.00		98.46%	
Arbitrage Calculation	-		916.63		(916.63)		1,000.00		0.00%	
Travel and Per Diem	-		229.13		(229.13)		250.00		0.00%	
Postage & Shipping	63.50		275.00		(211.50)		300.00		21.17%	
Legal Advertising	1,392.45		2,750.00		(1,357.55)		3,000.00		46.42%	
Miscellaneous	-		2,291.63		(2,291.63)		2,500.00		0.00%	
Meeting Room	350.00		733.37		(383.37)		800.00		43.75%	
Web Site Maintenance	2,250.00		2,585.00		(335.00)		2,820.00		79.79%	
Dues, Licenses, and Fees	175.00		160.38		14.62		175.00		100.00%	
Electric	1,002.88		5,958.37		(4,955.49)		6,500.00		15.43%	
Aquatic Contract (Lake Maintenance)	14,112.75		32,083.37		(17,970.62)		35,000.00		40.32%	
Amenity - Pool Furniture Repair/Replace	-		4,583.37		(4,583.37)		18,000.00		0.00%	
Amenity - Pool Maintenance	-		16,500.00		(16,500.00)		5,000.00		0.00%	
Amenity - Access Control	-		4,583.37		(4,583.37)		5,000.00		0.00%	
Amenity - Janitorial	1,800.00		11,458.37		(9,658.37)		12,500.00		14.40%	
Amenity - Pest Control	-		1,375.00		(1,375.00)		1,500.00		0.00%	
General Insurance	3,648.00		3,437.50		210.50		3,750.00		97.28%	
Property & Casualty	1,578.00		13,750.00		(12,172.00)		15,000.00		10.52%	
Irrigation	9,476.93		12,833.37		(3,356.44)		14,000.00		67.69%	
Landscaping Maintenance & Material	95,351.00		119,166.63		(23,815.63)		130,000.00		73.35%	
Landscape Improvements	575.00		9,166.63		(8,591.63)		10,000.00		5.75%	
Contingency	-		45,833.48		(45,833.48)		50,000.00		0.00%	
Reserve Account	5,000.00		4,583.37		416.63		5,000.00		100.00%	
Total General & Administrative Expenses	$	225,890.23		$  401,648.50		$  (175,758.27)		$ 438,162.00		51.55%	
Total Expenses	 $	225,890.23 		 $  401,648.50 		 $  (175,758.27)		 $ 438,162.00 			51.55%	
Income (Loss) from Operations	$	131,750.76		$	-		$  131,750.76		$	-			

Other Income (Expense)

Interest Income	$	12,817.31		$	-	$	12,817.31		$	-	
Total Other Income Ex ense	$	12,817.31		 
$	-	$	12,817.31		$	-	
Net Income (Loss)	$	144,568.07		 
$	-	$  144,568.07		$	-