Olympus CDD
January 2025 Financial Report

January 31, 2025

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

Statement of Financial Position As of 1/31/2025

General Fund	Debt Service Fund

Construction Fund

Custody Utility Fund

Long Term Debt Fund

Total

	Assets		
Current Assets
General Checking Account	

$  121,521.16									

$	121,521.16	
Assessments Receivable	141,784.93									141,784.93	
Debt Service Reserve S2024 Bond			$	178,216.00							178,216.00	
Revenue Series 2024 Bond			422.02							422.02	
Revenue 2003 Ban			26.07							26.07	
Capitalized Interest Account S2024 A Ban			1,571,275.03							1,571,275.03	
Capitalized Interest Account S2024 C Ban			46,865.72							46,865.72	
Capitalized Interest Fund S2024 Bond			418,807.65							418,807.65	
Series 2023 Acq & Const Ban					$	484.66					484.66	
Series 2024 Acq & Const Ban					4,873,327.14					4,873,327.14	
S2024 Acquisition & Construction - Bond					3,547,033.66					3,547,033.66	
Cost of Issuance S2024 ABC Ban					15,424.44					15,424.44	
Cost of Issuance S2024 Bond					10,072.69					10,072.69	
Custody Utility Construction Series 2024							$ 2,598,774.25			2,598,774.25	
Total Current Assets	$  263,306.09		$ 2,215,612.49		$ 8,446,342.59		$ 2,598,774.25		$	
-	$ 13,524,035.42	

Investments
Amount Available in Debt Service Funds	$  2,215,612.49		$  2,215,612.49	
Amount To Be Provided	15,394,387.51		15,394,387.51	
Total Investments	  	 
$	-	$	-	$	-	$	-	$ 17,610,000.00		$ 17,610,000.00	

Total Assets

$  263,306.09

$ 2,215,612.49

$ 8,446,342.59

$ 2,598,774.25

$ 17,610,000.00

$ 31,134,035.42

Liabilities and Net Assets

Current Liabilities Deferred Revenue Retainage Payable
Total Current Liabilities

$  141,784.93

$  141,784.93	$

$	236,667.56

-	$	236,667.56	$	-	$

$	141,784.93
236,667.56

-	$	378,452.49

Long Term Liabilities
Revenue Bonds Payable - Long-Term	$ 17,610,000.00		$ 17,610,000.00	
Total Long Term Liabilities	  	 
$	-	$	-	$	-	$	-	$ 17,610,000.00		$ 17,610,000.00	
Total Liabilities	$  141,784.93		 
$	-	$	236,667.56		 
$	-	$ 17,610,000.00		$ 17,988,452.49	

Net Assets
Net Assets, Unrestricted	

$	(984.00)		 		 		

$	(984.00)	
Net Assets - General Government	99,346.20						99,346.20	
Current Year Net Assets - General Government	23,158.96						23,158.96	
Net Assets, Unrestricted			$	5,217.96				5,217.96	
Current Year Net Assets, Unrestricted			2,210,394.53				2,210,394.53	
Net Assets, Unrestricted			$  (127,097.31)				(127,097.31)	
Current Year Net Assets, Unrestricted			8,336,772.34				8,336,772.34	

Current Year Net Assets, Unrestricted					
$ 2,598,774.25		
2,598,774.25	
Total Net Assets	$	121,521.16		$	2,215,612.49		$	8,209,675.03		$	2,598,774.25		$	-		$	13,145,582.93	
																		
Total Liabilities and Net Assets	$	263,306.09		$	2,215,612.49		$	8,446,342.59		$	2,598,774.25		$	17,610,000.00		$	31,134,035.42	

Statement of Activities As of 1/31/2025

General Fund	Debt Service Fund

Construction Fund

Custody Utility Fund

Long Term Debt Fund

Total

Revenues

On-Roll Assessments	$  52,348.07								$	52,348.07	
Other Income & Other Financing Sources	238.25								238.25	
Inter-Fund Group Transfers In			$	(94,673.66)						(94,673.66)	
Debt Proceeds			8,177,584.16						8,177,584.16	
Inter-Fund Transfers In					$	94,673.66				94,673.66	
Debt Proceeds					9,432,415.84				9,432,415.84	
Utility Construction Agreement							$ 2,787,498.62		2,787,498.62	
Total Revenues	$  52,586.32		$ 8,082,910.50		$ 9,527,089.50		$ 2,787,498.62		$	-	$ 20,450,084.94	

Expenses

Supervisor Fees	$	2,400.00								$	2,400.00	
Public Officials' Liability Insurance	2,617.00								2,617.00	
Management	12,500.01								12,500.01	
District Counsel	7,348.00								7,348.00	
Travel and Per Diem	53.74								53.74	
Postage & Shipping	41.36								41.36	
Legal Advertising	713.25								713.25	
Web Site Maintenance	705.00								705.00	
Dues, Licenses, and Fees	175.00								175.00	
General Insurance	3,197.00								3,197.00	
Landscaping Maintenance & Material	1,200.00								1,200.00	
Principal Payment - Ban			$ 5,500,000.00						5,500,000.00	
Interest Payments - Ban			258,347.22						258,347.22	
Origination Fee			119,450.00						119,450.00	
Trustee Services					$	13,000.00				13,000.00	
Management					11,500.00				11,500.00	
District Counsel					100,000.00				100,000.00	
Trustee Counsel					14,000.00				14,000.00	
Bond Counsel					190,000.00				190,000.00	
Lender's Counsel Fee					60,000.00				60,000.00	
Assessment Consultant Fee					37,500.00				37,500.00	
Developer's Counsel Fee					100,000.00				100,000.00	
Financial Advisory Fees					30,000.00				30,000.00	
Placement Agent					446,800.00				446,800.00	
Placement Agent Counsel					120,000.00				120,000.00	
FY24 Bond Construction Cost					73,318.00				73,318.00	
Construction Expenditures					336.00				336.00	
Origination Fee					15,000.00				15,000.00	
Trustee Services							$	1,500.00		1,500.00	
Capital Expenditures							192,000.00		192,000.00	
Total Expenses	$  30,950.36		$ 5,877,797.22		$ 1,211,454.00		$	193,500.00		 
$	-	$  7,313,701.58	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	1,523.00								$	1,523.00	
Interest Income			$	5,281.25						5,281.25	
Interest Income					$	21,136.84				21,136.84	
Interest Income							$	4,775.63		4,775.63	
Total Other Revenues (Expenses) & Gains (Losses)	$	1,523.00		$	5,281.25		$	21,136.84		$	4,775.63		$	-	$	32,716.72	

Change In Net Assets	
$	
23,158.96		
$	
2,210,394.53		
$	
8,336,772.34		
$	
2,598,774.25		
$	
-		
$	
13,169,100.08	
Net Assets At Beginning Of Year	$	98,362.20		$	5,217.96		$	(127,097.31)		$	-		$	-		$	(23,517.15)	

Net Assets At End Of Year	

$	

121,521.16		

$	

2,215,612.49		

$	

8,209,675.03		

$	

2,598,774.25		

$	

-		

$	

13,145,582.93	

Olympus CDD
Budget to Actual
For the Month Ending 1/31/2025

Year To Date

Actual	Budget	Variance

FY 2025
Adopted Budget

Percentage Spent

Revenues

On-Roll Assessments	$	52,348.07		$ 64,711.00		$ (12,362.93)		$ 194,133.00		26.97%	
Other Income & Other Financing Sources	238.25		-		238.25		-		0.00%	
Net Revenues	$	52,586.32		$ 64,711.00		$ (12,124.68)		$ 194,133.00		27.09%	

General & Administrative Expenses

Supervisor Fees	$	2,400.00		$	3,200.00		$	800.00		$	9,600.00		25.00%	
Public Officials' Liability Insurance	2,617.00		939.20		(1,677.80)		2,848.00		91.89%	
Trustee Services	-		1,333.32		1,333.32		4,000.00		0.00%	
Management	12,500.01		23,333.32		10,833.31		70,000.00		17.86%	
Engineering	-		5,000.00		5,000.00		15,000.00		0.00%	
Annual Disclosure	-		1,666.68		1,666.68		5,000.00		0.00%	
Property Appraiser	-		2,500.00		2,500.00		7,500.00		0.00%	
District Counsel	7,348.00		11,666.68		4,318.68		35,000.00		20.99%	
Assessment Administration	-		2,500.00		2,500.00		7,500.00		0.00%	
Reamortization Schedules	-		166.68		166.68		500.00		0.00%	
Audit	-		2,666.68		2,666.68		8,000.00		0.00%	
Arbitrage Calculation	-		166.68		166.68		500.00		0.00%	
Travel and Per Diem	53.74		500.00		446.26		1,500.00		3.58%	
Telephone	-		8.32		8.32		25.00		0.00%	
Postage & Shipping	41.36		66.68		25.32		200.00		20.68%	
Copies	-		66.68		66.68		200.00		0.00%	
Legal Advertising	713.25		3,333.32		2,620.07		10,000.00		7.13%	
Miscellaneous	-		2,621.32		2,621.32		7,864.00		0.00%	
Meeting Room	-		400.00		400.00		1,200.00		0.00%	
Web Site Maintenance	705.00		940.00		235.00		2,820.00		25.00%	
Dues, Licenses, and Fees	175.00		58.32		(116.68)		175.00		100.00%	
General Insurance	3,197.00		1,127.12		(2,069.88)		3,381.00		94.56%	
Landscaping Maintenance & Material	1,200.00		450.00		(750.00)		1,350.00		88.89%	
Total General & Administrative Expenses	$	30,950.36		$ 64,711.00		$  33,760.64		$ 194,163.00		15.94%	
Total Expenses	 $	30,950.36 		 $ 64,711.00 		 $  33,760.64 		 $ 194,163.00 			15.94%	
Income (Loss) from Operations	$	21,635.96		$	-		$  21,635.96		$	-			

Other Income (Expense)

Interest Income	$	1,523.00		$	-	$	1,523.00		$	-	
Total Other Income (Expense)	$	1,523.00			
$	-	$	1,523.00		$	-	
Net Income (Loss)	$	23,158.96			
$	-	$  23,158.96		$	-