Olympus CDD
September 2025 Financial Report

September 30, 2025

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

Olympus CDD
Statement of Financial Position As of 9/30/2025

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

General Fund	Total

	Assets		
Current Assets
General Checking Account	

$	58,073.76									

$	58,073.76	
Reserved Checking Account	120,263.01									120,263.01	
Prepaid Expenses	6,663.00									6,663.00	
Debt Service Reserve S2024 Bond			$	178,216.00							178,216.00	
Revenue Series 2024 Bond			5,533.37							5,533.37	
Revenue S2024 AB BAN			537.94							537.94	
Capitalized Interest Account S2024 A Ban			1,290,718.84							1,290,718.84	
Capitalized Interest Account S2024 C Ban			41,861.72							41,861.72	
Capitalized Interest Fund S2024 Bond			312,731.01							312,731.01	
Acq & Const Ban Series 2024					$ 5,028,633.30					5,028,633.30	
Acquisition & Construction - Bond S2024					1,997,305.76					1,997,305.76	
Custody Utility Construction Series 2024							$ 722,108.92			722,108.92	
Total Current Assets	$	184,999.77		$ 1,829,598.88		$ 7,025,939.06		$ 722,108.92		$	
-	$  9,762,646.63	

Investments
Amount Available in Debt Service Funds	$  1,829,598.88		$  1,829,598.88	
Amount To Be Provided	15,780,401.12		15,780,401.12	
Total Investments		 	 
$	-	$	-	$	-	$	-	$ 17,610,000.00		$ 17,610,000.00	

Total Assets	$	184,999.77	$ 1,829,598.88	$ 7,025,939.06	$ 739,609.85	$ 17,610,000.00	$ 27,390,147.56

Liabilities and Net Assets

Current Liabilities
Accounts Payable	
$	8,228.86							
$	8,228.86	
Accounts Payable			$ 1,653,439.18					1,653,439.18	
Retainage Payable			541,976.21					541,976.21	
Accounts Payable			
 		$	4,980.00			4,980.00	
Total Current Liabilities	$	8,228.86		$	-	$ 2,195,415.39		$	4,980.00		$	-	$  2,208,624.25	

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	$	8,228.86		$	-		$ 2,212,916.32		$	4,980.00		$ 17,610,000.00		$ 19,836,125.18	

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	78,408.71										78,408.71	
Net Assets, Unrestricted			$	5,217.96								5,217.96	
Current Year Net Assets, Unrestricted			1,824,380.92								1,824,380.92	
Net Assets, Unrestricted					$  (127,097.31)						(127,097.31)	
Current Year Net Assets, Unrestricted					4,940,120.05						4,940,120.05	
Current Year Net Assets, Unrestricted							$ 734,629.85				734,629.85	
Total Net Assets	$	176,770.91		$ 1,829,598.88		$ 4,813,022.74		$ 734,629.85		$	-		$  7,554,022.38	
												
Total Liabilities and Net Assets	$	184,999.77		$ 1,829,598.88		$ 7,025,939.06		$ 739,609.85		$ 17,610,000.00		$ 27,390,147.56	

Olympus CDD Statement of Activities As of 9/30/2025

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	$	5,600.00								$	5,600.00	
Public Officials' Liability Insurance	2,617.00								2,617.00	
Management	50,000.00								50,000.00	
Engineering	16,195.00								16,195.00	
Annual Disclosure	1,250.00								1,250.00	
Property Appraiser	125.25								125.25	
District Counsel	30,678.32								30,678.32	
Audit	8,500.00								8,500.00	
Travel and Per Diem	500.53								500.53	
Postage & Shipping	45.65								45.65	
Legal Advertising	3,188.75								3,188.75	
Meeting Room	432.00								432.00	
Web Site Maintenance	2,820.00								2,820.00	
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	3,900.00								3,900.00	
Principal Payments - Ban			$ 5,500,000.00						5,500,000.00	
Interest Payments - Ban			585,502.45						585,502.45	
Interest Payments - Bond			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					3,495,374.13				3,495,374.13	
Construction Expenditures					336.00				336.00	
Origination Fee					15,000.00				15,000.00	
Trustee Services							$	1,500.00		1,500.00	
Capital Expenditures							2,123,729.46		2,123,729.46	
Total Expenses	$  134,004.50		$ 6,321,338.70		$ 4,835,010.13		$ 2,125,229.46		 
$	-	$ 13,415,582.79	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	5,304.75								$	5,304.75	
Interest Income			$	62,322.73						62,322.73	
Interest Income					$	248,527.07				248,527.07	
Interest Income							$	72,360.69		72,360.69	
Total Other Revenues (Expenses) & Gains (Losses)	$	5,304.75		$	62,322.73		$	248,527.07		$	72,360.69		 
$	-	$	388,515.24	

Change In Net Assets	
$	
78,408.71		
$	
1,824,380.92		
$	
4,940,120.05		
$	
734,629.85		
$	
-		
$	
7,577,539.53	

Net Assets At Beginning Of Year	
$	
98,362.20		
$	
5,217.96		
$	
(127,097.31)		
$	
-		
$	
-		
$	
(23,517.15)	

Net Assets At End Of Year	

$	

176,770.91		

$	

1,829,598.88		

$	

4,813,022.74		

$	

734,629.85		

$	

-		

$	

7,554,022.38	

Olympus CDD
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	$	206,866.71		$	194,133.00		$	12,733.71		$  194,133.00		106.56%	
Other Income & Other Financing Sources	241.75		-		241.75		-		0.00%	
Net Revenues	$	207,108.46		$	194,133.00		$	12,975.46		$  194,133.00		106.68%	

General & Administrative Expenses

Supervisor Fees	$	5,600.00		$	9,600.00		$	(4,000.00)		$	9,600.00		58.33%	
Public Officials' Liability Insurance	2,617.00		2,817.60		(200.60)		2,818.00		92.87%	
Trustee Services	-		4,000.00		(4,000.00)		4,000.00		0.00%	
Management	50,000.00		70,000.00		(20,000.00)		70,000.00		71.43%	
Engineering	16,195.00		15,000.00		1,195.00		15,000.00		107.97%	
Annual Disclosure	1,250.00		5,000.00		(3,750.00)		5,000.00		25.00%	
Property Appraiser	125.25		7,500.00		(7,374.75)		7,500.00		1.67%	
District Counsel	30,678.32		35,000.00		(4,321.68)		35,000.00		87.65%	
Assessment Administration	-		7,500.00		(7,500.00)		7,500.00		0.00%	
Reamortization Schedules	-		500.00		(500.00)		500.00		0.00%	
Audit	8,500.00		8,000.00		500.00		8,000.00		106.25%	
Arbitrage Calculation	-		500.00		(500.00)		500.00		0.00%	
Travel and Per Diem	500.53		1,500.00		(999.47)		1,500.00		33.37%	
Telephone	-		25.00		(25.00)		25.00		0.00%	
Postage & Shipping	45.65		200.00		(154.35)		200.00		22.83%	
Copies	-		200.00		(200.00)		200.00		0.00%	
Legal Advertising	3,188.75		10,000.00		(6,811.25)		10,000.00		31.89%	
Miscellaneous	-		7,864.00		(7,864.00)		7,864.00		0.00%	
Meeting Room	432.00		1,200.00		(768.00)		1,200.00		36.00%	
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%	
General Insurance	3,197.00		3,381.40		(184.40)		3,381.00		94.56%	
Other Insurance	4,780.00		-		4,780.00		-		0.00%	
Landscaping Maintenance & Material	3,900.00		1,350.00		2,550.00		1,350.00		288.89%	
Total General & Administrative Expenses	$	134,004.50		$	194,133.00		$	(60,128.50)		$  194,133.00		69.03%	
Total Expenses	 $	134,004.50 		 $	194,133.00 		 $	(60,128.50)		 $  194,133.00 			69.03%	
Income (Loss) from Operations	$	73,103.96		$	-		$	73,103.96		$	-			

Other Income (Expense)

Interest Income	$	5,304.75		$	-	$	5,304.75		$	-	
Total Other Income (Expense)	$	5,304.75		 
$	-	$	5,304.75		$	-	
Net Income (Loss)	$	78,408.71		 
$	-	$	78,408.71		$	-