Olympus CDD
October 2024 Financial Report

October 31, 2024

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

Debt Service	Construction	Long Term	
Fund	Fund	Debt Fund	

Statement of Financial Position As of 10/31/2024

	Assets		
Current Assets
General Checking Account	
$	96,178.28					
$	96,178.28	
Assessments Receivable	194,133.00					194,133.00	
Revenue 2003 Ban		$	5,217.96				5,217.96	
Series 2023 Acq & Const Ban				$	109,234.25		109,234.25	
Total Current Assets	$  290,311.28	$	5,217.96		$	109,234.25		$	-	$	404,763.49	

Investments

General Fund

Total

 

Amount To Be Provided	$ 1,500,000.00				$ 1,500,000.00	
Amount Available in Debt Service Funds			$	5,217.96		5,217.96	
Amount To Be Provided	
				3,994,782.04		3,994,782.04	
Total Investments	$	-	$	-	$ 1,500,000.00		$ 4,000,000.00		$ 5,500,000.00	

Total Assets

$  290,311.28

$	5,217.96

$ 1,609,234.25

$ 4,000,000.00

$ 5,904,763.49

Current Liabilities	Liabilities and Net Assets		
Accounts Payable	$	6,233.17		$	6,233.17	
Deferred Revenue	194,133.00		194,133.00	
Retainage Payable		$	236,667.56	236,667.56	
Ban Payable - Current	
	1,500,000.00	1,500,000.00	

Total Current Liabilities

$  200,366.17	$

-	$ 1,736,667.56	$

-	$ 1,937,033.73

Long Term Liabilities
Revenue Bonds Payable - Long-Term	$ 4,000,000.00		$ 4,000,000.00	
Total Long Term Liabilities				
$	-	$	-	$	-	$ 4,000,000.00		$ 4,000,000.00	

Total Liabilities	$  200,366.17		$	-		$ 1,736,667.56		$ 4,000,000.00		$ 5,937,033.73	

Net Assets										
Net Assets, Unrestricted	$	(984.00)								$	(984.00)	
Net Assets - General Government	2,328.83								2,328.83	
Current Year Net Assets - General Government	88,600.28								88,600.28	
Current Year Net Assets, Unrestricted			$	5,217.96						5,217.96	
Net Assets, Unrestricted					$	427,956.12				427,956.12	
Current Year Net Assets, Unrestricted					(555,389.43)				(555,389.43)	
Total Net Assets	$	89,945.11		$	5,217.96		$  (127,433.31)		$	-		$	(32,270.24)	
										
Total Liabilities and Net Assets	$  290,311.28		$	5,217.96		$ 1,609,234.25		$ 4,000,000.00		$ 5,904,763.49	

Statement of Activities As of 10/31/2024

Debt Service	Construction	Long Term	
Fund	Fund	Debt Fund	

Revenues

General Fund

Total

				

Total Revenues

$	-	$	-	$

-	$	-	$	-

Expenses

Supervisor Fees	$	800.00				$	800.00	
Public Officials' Liability Insurance	2,617.00				2,617.00	
Management	4,166.67				4,166.67	
Web Site Maintenance	135.00				135.00	
Dues, Licenses, and Fees	175.00				175.00	
General Insurance	3,197.00				3,197.00	
Landscaping Maintenance & Material	600.00				600.00	
Construction Expenditures			$	336.00		336.00	
Total Expenses	$  11,690.67		$	-	$	336.00		$	-	$  12,026.67	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	375.58		$	375.58	
Total Other Revenues (Expenses) & Gains (Losses)	$	375.58		$	-	$	-	$	-	$	375.58	

Change In Net Assets

$ (11,315.09)	$

-	$	(336.00)	$

-	$ (11,651.09)

Net Assets At Beginning Of Period

$ 101,260.20

$	5,217.96

$	(127,097.31)	$

-	$ (20,619.15)

				

Net Assets At End Of Period

$	89,945.11

$	5,217.96

$	(127,433.31)	$

-	$ (32,270.24)

				

Budget to Actual
For the Month Ending 10/31/2024

Year to Date

Actual	
Budget	
Variance	FY 2025
Adopted Budget	Percentage Used	

Revenues						
On-Roll Assessments	$	-	$	16,177.75	$	(16,177.75)	$	194,133.00	0.00%	
Net Revenues	$	-		$	16,177.75		$	(16,177.75)		$	194,133.00		0.00%	
General & Administrative Expenses						
Supervisor Fees	$	800.00	$	800.00	$	-	$	9,600.00	8.33%	
Public Officials' Liability Insurance	2,617.00	234.80	2,382.20	2,818.00	92.87%	
Trustee Services	-	333.33	(333.33)	4,000.00	0.00%	
Management	4,166.67	5,833.33	(1,666.66)	70,000.00	5.95%	
Engineering	-	1,250.00	(1,250.00)	15,000.00	0.00%	
Annual Disclosure	-	416.67	(416.67)	5,000.00	0.00%	
Property Appraiser	-	625.00	(625.00)	7,500.00	0.00%	
District Counsel	-	2,916.67	(2,916.67)	35,000.00	0.00%	
Assessment Administration	-	625.00	(625.00)	7,500.00	0.00%	
Reamortization Schedules	-	41.67	(41.67)	500.00	0.00%	
Audit	-	666.67	(666.67)	8,000.00	0.00%	
Arbitrage Calculation	-	41.67	(41.67)	500.00	0.00%	
Travel and Per Diem	-	125.00	(125.00)	1,500.00	0.00%	
Telephone	-	2.08	(2.08)	25.00	0.00%	
Postage & Shipping	-	16.67	(16.67)	200.00	0.00%	
Copies	-	16.67	(16.67)	200.00	0.00%	
Legal Advertising	-	833.33	(833.33)	10,000.00	0.00%	
Miscellaneous	-	655.33	(655.33)	7,864.00	0.00%	
Meeting Room	-	100.00	(100.00)	1,200.00	0.00%	
Web Site Maintenance	135.00	235.00	(100.00)	2,820.00	4.79%	
Dues, Licenses, and Fees	175.00	14.58	160.42	175.00	100.00%	
General Insurance	3,197.00	281.78	2,915.22	3,381.00	94.56%	
Landscaping Maintenance & Material	600.00	112.50	487.50	1,350.00	44.44%	
Total General & Administrative Expenses	$	11,690.67		$	16,177.75		$	(4,487.08)		$	194,133.00		6.02%	
Total Expenses	 $	11,690.67 	 $ 16,177.75 	 $	(4,487.08)	 $ 194,133.00 		6.02%	
Income (Loss) from Operations	$	(11,690.67)	$	-	$	(11,690.67)	$	-	
Other Income (Expense)						
Interest Income	$	375.58	$	-	$	375.58	$	-	
Total Other Income (Expense)	$	375.58		$	-		$	375.58		$	-		
Net Income (Loss)	$	(11,315.09)		$	-		$	(11,315.09)		$	-