Olympus CDD
July 2025 Financial Report

July 31, 2025

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

Debt Service	Construction	Custody Utility	Long Term Debt	
Fund	Fund	Fund	Fund	

Statement of Financial Position As of 7/31/2025

	Assets		
Current Assets
General Checking Account	

$  206,691.78									

$	206,691.78	
Debt Service Reserve S2024 Bond			$	178,216.00							178,216.00	
Revenue Series 2024 Bond			4,215.99							4,215.99	
Revenue S2024 AB BAN			534.08							534.08	
Capitalized Interest Account S2024 A Ban			1,281,465.04							1,281,465.04	
Capitalized Interest Account S2024 C Ban			41,561.59							41,561.59	
Capitalized Interest Fund S2024 Bond			310,488.89							310,488.89	
Acq & Const Ban Series 2024					$ 4,992,580.55					4,992,580.55	
S2024 Acquisition & Construction - Bond					2,310,517.11					2,310,517.11	
Due from Other Funds							$	17,500.93			17,500.93	
Custody Utility Construction Series 2024							1,086,884.13			1,086,884.13	
Total Current Assets	$  206,691.78		$ 1,816,481.59		$ 7,303,097.66		$ 1,104,385.06		$	-	$ 10,430,656.09	

Investments

General Fund

Total

Amount Available in Debt Service Funds	$  1,816,481.59		$  1,816,481.59	
Amount To Be Provided	15,793,518.41		15,793,518.41	
Total Investments	  	 
$	-	$	-	$	-	$	-	$ 17,610,000.00		$ 17,610,000.00	

Total Assets	$  206,691.78	
$ 1,816,481.59	$ 7,303,097.66		  
$ 1,104,385.06	$ 17,610,000.00	$ 28,040,656.09	

Liabilities and Net Assets				
Current Liabilities
Accounts Payable	

$	122.75				

$	122.75	
Retainage Payable			$	379,164.26		379,164.26	
Due To Other Funds		
	17,500.93		17,500.93	
Total Current Liabilities	$	122.75	$	-	$	396,665.19		$	-	$	-	$	396,787.94	

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	$	122.75		 
$	-	$	396,665.19		
$	-	$ 17,610,000.00		$ 18,006,787.94	

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	108,206.83						108,206.83	
Net Assets, Unrestricted			$	5,217.96				5,217.96	
Current Year Net Assets, Unrestricted			1,811,263.63				1,811,263.63	
Net Assets, Unrestricted			$  (127,097.31)				(127,097.31)	
Current Year Net Assets, Unrestricted			7,033,529.78				7,033,529.78	
																	-	
Current Year Net Assets, Unrestricted										$	1,104,385.06						1,104,385.06	
Total Net Assets	$	206,569.03		$	1,816,481.59		$	6,906,432.47		$	1,104,385.06		$	-		$	10,033,868.15	
																		
Total Liabilities and Net Assets	$	206,691.78		$	1,816,481.59		$	7,303,097.66		$	1,104,385.06		$	17,610,000.00		$	28,040,656.09	

Statement of Activities As of 7/31/2025

General Fund	Debt Service Fund

Construction Fund

Custody Utility Fund

Long Term Debt Fund

Total

Revenues

On-Roll Assessments	$	206,866.71								$	206,866.71	
Other Income & Other Financing Sources	241.75								241.75	
Inter-Fund Group Transfers In			$	(94,187.27)						(94,187.27)	
Debt Proceeds			8,177,584.16						8,177,584.16	
Inter-Fund Transfers In					$	94,187.27				94,187.27	
Debt Proceeds					9,432,415.84				9,432,415.84	
Utility Construction Agreement							$ 2,787,498.62		2,787,498.62	
Total Revenues	$	207,108.46		$ 8,083,396.89		$ 9,526,603.11		$ 2,787,498.62		$	-	$ 20,604,607.08	

Expenses

Supervisor Fees	$	4,600.00								$	4,600.00	
Public Officials' Liability Insurance	2,617.00								2,617.00	
Management	37,500.03								37,500.03	
Engineering	4,870.00								4,870.00	
Annual Disclosure	1,250.00								1,250.00	
District Counsel	27,110.18								27,110.18	
Audit	8,500.00								8,500.00	
Travel and Per Diem	343.17								343.17	
Postage & Shipping	43.43								43.43	
Legal Advertising	1,883.25								1,883.25	
Meeting Room	432.00								432.00	
Web Site Maintenance	2,250.00								2,250.00	
Dues, Licenses, and Fees	175.00								175.00	
General Insurance	3,197.00								3,197.00	
Other Insurance	4,780.00								4,780.00	
Landscaping Maintenance & Material	3,300.00								3,300.00	
Principal Payments - Ban			$ 5,500,000.00						5,500,000.00	
Interest Payments - Ban			585,502.45						585,502.45	
Interest Payments - Series 2024			116,386.25						116,386.25	
Origination Fee			119,450.00						119,450.00	
Trustee Services					$	13,000.00				13,000.00	
Management					13,000.00				13,000.00	
Engineering					200,000.00				200,000.00	
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					1,351,162.90				1,351,162.90	
Origination Fee					15,000.00				15,000.00	
Trustee Services							$	1,500.00		1,500.00	
Capital Expenditures							1,741,912.24		1,741,912.24	
Total Expenses	$	102,851.06		$ 6,321,338.70		$ 2,690,462.90		$ 1,743,412.24		$	-	$ 10,858,064.90	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	3,949.43								$	3,949.43	
Interest Income			$	49,205.44						49,205.44	
Interest Income					$	197,389.57				197,389.57	
Interest Income							$	60,298.68		60,298.68	
Total Other Revenues (Expenses) & Gains (Losses)	$	3,949.43		$	49,205.44		$	197,389.57		$	60,298.68		$	-	$	310,843.12	

Change In Net Assets	
$	
108,206.83		
$	
1,811,263.63		
$	
7,033,529.78		
$	
1,104,385.06		
$	
-		
$	
10,057,385.30	
Net Assets At Beginning Of Year	$	98,362.20		$	5,217.96		$	(127,097.31)		$	-		$	-		$	(23,517.15)	

Net Assets At End Of Year	
$	
206,569.03		
$	
1,816,481.59		
$	
6,906,432.47		
$	
1,104,385.06		
$	
-		
$	
10,033,868.15	

Olympus CDD
Budget to Actual
For the Month Ending 7/31/2025

YTD Actual	YTD Budget	YTD Variance

FY 2025
Adopted Budget

Percentage Spent

Revenues

On-Roll Assessments	$	206,866.71		$	161,777.50		$	45,089.21		$  194,133.00		106.56%	
Other Income & Other Financing Sources	241.75		-		241.75		-		0.00%	
Net Revenues	$	207,108.46		$	161,777.50		$	45,330.96		$  194,133.00		106.68%	

General & Administrative Expenses

Supervisor Fees	$	4,600.00		$	8,000.00		$	(3,400.00)		$	9,600.00		47.92%	
Public Officials' Liability Insurance	2,617.00		2,348.00		269.00		2,818.00		92.87%	
Trustee Services	-		3,333.30		(3,333.30)		4,000.00		0.00%	
Management	37,500.03		58,333.30		(20,833.27)		70,000.00		53.57%	
Engineering	4,870.00		12,500.00		(7,630.00)		15,000.00		32.47%	
Annual Disclosure	1,250.00		4,166.70		(2,916.70)		5,000.00		25.00%	
Property Appraiser	-		6,250.00		(6,250.00)		7,500.00		0.00%	
District Counsel	27,110.18		29,166.70		(2,056.52)		35,000.00		77.46%	
Assessment Administration	-		6,250.00		(6,250.00)		7,500.00		0.00%	
Reamortization Schedules	-		416.70		(416.70)		500.00		0.00%	
Audit	8,500.00		6,666.70		1,833.30		8,000.00		106.25%	
Arbitrage Calculation	-		416.70		(416.70)		500.00		0.00%	
Travel and Per Diem	343.17		1,250.00		(906.83)		1,500.00		22.88%	
Telephone	-		20.80		(20.80)		25.00		0.00%	
Postage & Shipping	43.43		166.70		(123.27)		200.00		21.72%	
Copies	-		166.70		(166.70)		200.00		0.00%	
Legal Advertising	1,883.25		8,333.30		(6,450.05)		10,000.00		18.83%	
Miscellaneous	-		6,553.30		(6,553.30)		7,864.00		0.00%	
Meeting Room	432.00		1,000.00		(568.00)		1,200.00		36.00%	
Web Site Maintenance	2,250.00		2,350.00		(100.00)		2,820.00		79.79%	
Dues, Licenses, and Fees	175.00		145.80		29.20		175.00		100.00%	
General Insurance	3,197.00		2,817.80		379.20		3,381.00		94.56%	
Other Insurance	4,780.00		-		4,780.00		-		0.00%	
Landscaping Maintenance & Material	3,300.00		1,125.00		2,175.00		1,350.00		244.44%	
Total General & Administrative Expenses	$	102,851.06		$	161,777.50		$	58,926.44		$  194,133.00		52.98%	
Total Expenses	 $	102,851.06 		 $	161,777.50 		 $	58,926.44 		 $  194,133.00 			52.98%	
Income (Loss) from Operations	$	104,257.40		$	-		$	104,257.40		$	-			

Other Income (Expense)

Interest Income	$	3,949.43		$	-	$	3,949.43		$	-	
Total Other Income (Expense)	$	3,949.43		 
$	-	$	3,949.43		$	-	
Net Income (Loss)	$	108,206.83		 
$	-	$	108,206.83		$	-