Lakeside Preserve CDD
September 2025 Financial Report

September 30, 2025

PFM Group Consulting LLC
3501 Quadrangle Blvd., Suite 270
Orlando, Florida 32817
Tel: 407-723-5900

Statement of Financial Position As of 9/30/2025

Debt Service	Capital Projects	Long-Term Debt	
Fund	Fund	Fund	

General Fund	Total

	Assets		
Current Assets
General Checking Account	

$	240,787.92						

$	240,787.92	
Checking Account - Reserve	15,820.09						15,820.09	
Prepaid Expenses	21,519.27						21,519.27	
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		183,231.92					183,231.92	
Series 2023 Revenue		632,502.40					632,502.40	
Series 2019 Prepayment		17.38					17.38	
Series 2023 Prepayment		808,507.58					808,507.58	
Series 2019 General Fund		2.33					2.33	
Series 2019 Sinking Fund		866.18					866.18	
Accounts Receivable - Due from Developer				$	715,209.74			715,209.74	
Series 2023 Acquisition/Construction	
			12,614.58			12,614.58	
Total Current Assets	$	278,432.78	$ 2,575,999.67		$	727,824.32		$	-	$  3,582,256.77	

Investments
Amount Available in Debt Service Funds	$  2,575,999.67		$  2,575,999.67	
Amount To Be Provided	10,094,000.33		10,094,000.33	
Total Investments		 	
$	-	$	-	$	-	$ 12,670,000.00		$ 12,670,000.00	

Total Assets	$	278,432.78	$ 2,575,999.67	$	727,824.32	$ 12,670,000.00	$ 16,252,256.77

Liabilities and Net Assets

Current Liabilities
Accounts Payable	$	56,654.72					$	56,654.72	
Accounts Payable			$	726,997.31			726,997.31	
Retainage Payable			730,857.91			730,857.91	
Deferred Revenue			715,209.74			715,209.74	
Total Current Liabilities	$	56,654.72		 
$	-	$  2,173,064.96		$	
-	$  2,229,719.68	

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	$	56,654.72		$	-		$  2,173,064.96		$ 12,670,000.00		$ 14,899,719.68	

Net Assets
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	72,585.58								72,585.58	
Net Assets, Unrestricted			$ 1,748,736.87						1,748,736.87	
Current Year Net Assets, Unrestricted			827,262.80						827,262.80	
Net Assets, Unrestricted					$	(802,714.19)				(802,714.19)	
Current Year Net Assets, Unrestricted					(642,526.45)				(642,526.45)	
Total Net Assets	$	221,778.06		$ 2,575,999.67		$ (1,445,240.64)		$	-		$  1,352,537.09	
										
Total Liabilities and Net Assets	$	278,432.78		$ 2,575,999.67		$	727,824.32		$ 12,670,000.00		$ 16,252,256.77	

Statement of Activities As of 9/30/2025

Debt Service	Capital Projects	Long-Term	
Fund	Fund	Debt Fund	

General Fund	Total

Revenues

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			986,761.04				986,761.04	
Inter-Fund Group Transfers In			(30,761.29)				(30,761.29)	
Developer Contributions					$  4,196,574.77		4,196,574.77	
Inter-Fund Transfers In					30,761.29		30,761.29	
Total Revenues	$	357,640.99		$	1,894,111.25		$  4,227,336.06		 
$	-	$ 6,479,088.30	

Expenses

Supervisor Fees	$	3,600.00						$	3,600.00	
POL Insurance	2,983.00						2,983.00	
Trustee Services	7,802.91						7,802.91	
Management	30,000.00						30,000.00	
Field Management	1,500.00						1,500.00	
Engineering	6,580.00						6,580.00	
Disclosure	6,500.00						6,500.00	
District Counsel	18,560.41						18,560.41	
Assessment Administration	15,000.00						15,000.00	
Audit	6,400.00						6,400.00	
Postage & Shipping	75.99						75.99	
Legal Advertising	1,444.95						1,444.95	
Meeting Room	350.00						350.00	
Web Site Maintenance	2,820.00						2,820.00	
Dues, Licenses, and Fees	175.00						175.00	
Electric	1,257.18						1,257.18	
Amenity - Janitorial	1,800.00						1,800.00	
General Insurance	3,648.00						3,648.00	
Property & Casualty	1,578.00						1,578.00	
General Repair & Maintenance	54,312.81						54,312.81	
Irrigation	9,899.81						9,899.81	
Lake Maintenance	15,461.07						15,461.07	
Landscaping Maintenance & Material	106,598.00						106,598.00	
Landscape Improvements	575.00						575.00	
Principal Payments			$	220,000.00				220,000.00	
Principal Payments - S2023 bond			130,000.00				130,000.00	
Interest Payments			777,231.26				777,231.26	
Interest Payments - S2023 bond			2,010.94				2,010.94	
Capital Expenditures					$  4,872,297.25		4,872,297.25	
Total Expenses	$	298,922.13		$	1,129,242.20		$  4,872,297.25		 
$	-	$ 6,300,461.58	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	13,866.72						$	13,866.72	
Interest Income			$	62,393.75				62,393.75	
Interest Income					$	2,434.74		2,434.74	
Total Other Revenues (Expenses) & Gains (Losses)	$	13,866.72		$	62,393.75		$	2,434.74		 
$	-	$	78,695.21	
Change In Net Assets	$	72,585.58		$	827,262.80		$	(642,526.45)		$	-	$	257,321.93	
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	

$	221,778.06		

$	2,575,999.67		

$ (1,445,240.64)		 

$	-	$ 1,352,537.09	

Budget to Actual
For the Month Ending 9/30/2025

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

Revenues

On-Roll Assessments	$  113,427.46		$ 111,948.47		$	1,478.99		$ 111,948.47		101.32%	
Off-Roll Assessments	244,213.53		244,213.53		-		244,213.53		100.00%	
Developer Contributions	-		42,000.00		(42,000.00)		42,000.00		0.00%	
Carry Forward Revenue	-		40,000.00		(40,000.00)		40,000.00		0.00%	
Net Revenues	$  357,640.99		$ 438,162.00		$	(80,521.01)		$ 438,162.00		81.62%	

General & Administrative Expenses

Supervisor Fees	$	3,600.00		$	4,800.00		$	(1,200.00)		$	4,800.00		75.00%	
POL Insurance	2,983.00		3,067.00		(84.00)		3,067.00		97.26%	
Trustee Services	7,802.91		8,200.00		(397.09)		8,200.00		95.16%	
Management	30,000.00		30,000.00		-		30,000.00		100.00%	
Field Management	1,500.00		1,500.00		-		1,500.00		100.00%	
Engineering	6,580.00		10,000.00		(3,420.00)		10,000.00		65.80%	
Disclosure	6,500.00		10,000.00		(3,500.00)		10,000.00		65.00%	
Property Appraiser	9,181.18		10,000.00		(818.82)		10,000.00		91.81%	
District Counsel	18,560.41		16,000.00		2,560.41		16,000.00		116.00%	
Assessment Administration	15,000.00		15,000.00		-		15,000.00		100.00%	
Reamortization Schedules	-		1,000.00		(1,000.00)		1,000.00		0.00%	
Audit	6,400.00		6,500.00		(100.00)		6,500.00		98.46%	
Arbitrage Calculation	-		1,000.00		(1,000.00)		1,000.00		0.00%	
Travel and Per Diem	-		250.00		(250.00)		250.00		0.00%	
Postage & Shipping	75.99		300.00		(224.01)		300.00		25.33%	
Legal Advertising	1,444.95		3,000.00		(1,555.05)		3,000.00		48.17%	
Miscellaneous	-		2,500.00		(2,500.00)		2,500.00		0.00%	
Meeting Room	350.00		800.00		(450.00)		800.00		43.75%	
Web Site Maintenance	2,820.00		2,820.00		-		2,820.00		100.00%	
Dues, Licenses, and Fees	175.00		175.00		-		175.00		100.00%	
Electric	1,257.18		6,500.00		(5,242.82)		6,500.00		19.34%	
Aquatic Contract (Lake Maintenance)	15,461.07		35,000.00		(19,538.93)		35,000.00		44.17%	
Amenity - Pool Furniture Repair/Replace	-		5,000.00		(5,000.00)		18,000.00		0.00%	
Amenity - Pool Maintenance	-		18,000.00		(18,000.00)		5,000.00		0.00%	
Amenity - Access Control	-		5,000.00		(5,000.00)		5,000.00		0.00%	
Amenity - Janitorial	1,800.00		12,500.00		(10,700.00)		12,500.00		14.40%	
Amenity - Pest Control	-		1,500.00		(1,500.00)		1,500.00		0.00%	
General Insurance	3,648.00		3,750.00		(102.00)		3,750.00		97.28%	
Property & Casualty	1,578.00		15,000.00		(13,422.00)		15,000.00		10.52%	
General Repair & Maintenance	54,312.81		-		54,312.81		-		0.00%	
Irrigation	9,899.81		14,000.00		(4,100.19)		14,000.00		70.71%	
Landscaping Maintenance & Material	106,598.00		130,000.00		(23,402.00)		130,000.00		82.00%	
Landscape Improvements	575.00		10,000.00		(9,425.00)		10,000.00		5.75%	
Contingency	-		50,000.00		(50,000.00)		50,000.00		0.00%	
Reserve Account	5,000.00		5,000.00		-		5,000.00		100.00%	
Total General & Administrative Expenses	$  313,103.31		$ 438,162.00		$  (125,058.69)		$ 438,162.00		71.46%	
Total Expenses	 $  313,103.31 		 $ 438,162.00 		 $  (125,058.69)		 $ 438,162.00 			71.46%	
Income (Loss) from Operations	$	44,537.68		$	-		$	44,537.68		$	-			

Other Income (Expense)

Interest Income	$	13,866.72		$	-	$	13,866.72		$	-	
Total Other Income (Expense)	$	13,866.72		 
$	-	$	13,866.72		$	-	
Net Income (Loss)	$	58,404.40		 
$	-	$	58,404.40		$	-