Sanctuary Cove CDD
December 2024 Financial Package

December 31, 2024

PFM Group Consulting LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
(407) 723-5900

Statement of Financial Position As of 12/31/2024

General Fund		S2021 Debt Service Fund

Long Term Debt Group

Total

	Assets		
Current Assets
General Checking Account	
$75,980.21						
$75,980.21	
Assessments Receivable	54,399.76						54,399.76	
Assessments Receivable			$56,235.36				56,235.36	
Series 2021 Debt Service Reserve			43,681.25				43,681.25	
Series 2021 Revenue			96,196.70				96,196.70	
Total Current Assets	$130,379.97		$196,113.31		$0.00		$326,493.28	

Investments
Amount Available in Debt Service Funds					

$139,877.95		

$139,877.95	
Amount To Be Provided					2,870,122.05		2,870,122.05	
Total Investments	$0.00		$0.00		$3,010,000.00		$3,010,000.00	
Total Assets	$130,379.97		$196,113.31		$3,010,000.00		$3,336,493.28	

Liabilities and Net Assets

Current Liabilities
Accounts Payable	
$7,566.00						
$7,566.00	
Deferred Revenue	54,399.76						54,399.76	
Deferred Revenue			$56,235.36				56,235.36	
Total Current Liabilities	$61,965.76		$56,235.36		$0.00		$118,201.12	

Long Term Liabilities
Revenue Bonds Payable - Long-Term					

$3,010,000.00		

$3,010,000.00	
Total Long Term Liabilities	$0.00		$0.00		$3,010,000.00		$3,010,000.00	
Total Liabilities	$61,965.76		$56,235.36		$3,010,000.00		$3,128,201.12	

Net Assets

Net Assets - General Government	$70,469.96						$70,469.96	
Current Year Net Assets - General Government	(2,055.75)						(2,055.75)	
Net Assets, Unrestricted			$133,220.72				133,220.72	
Current Year Net Assets, Unrestricted			6,657.23				6,657.23	
Total Net Assets	$68,414.21		$139,877.95		$0.00		$208,292.16	
								
Total Liabilities and Net Assets	$130,379.97		$196,113.31		$3,010,000.00		$3,336,493.28	

Statement of Activities As of 12/31/2024

General Fund		Service Fund	Group	Total	

$27,615.38		
$27,615.38	
		$57,980.06		57,980.06	
$27,615.38		$57,980.06	$0.00	$85,595.44	

$3,468.00		
$3,468.00	
4,148.38		4,148.38	
3,125.01		3,125.01	
1,000.00		1,000.00	
273.00		273.00	
7,500.00		7,500.00	
8.28		8.28	
70.20		70.20	
6,000.00		6,000.00	
630.00		630.00	
175.00		175.00	
3,980.00		3,980.00	
		$52,118.75		52,118.75	
$30,377.87		$52,118.75	$0.00	$82,496.62	

$706.74		
$706.74	
		$795.92		795.92	
$706.74		$795.92	$0.00	$1,502.66	
($2,055.75)		$6,657.23	$0.00	$4,601.48	
$70,469.96		$133,220.72	$0.00	$203,690.68	

$68,414.21		
$139,877.95	
$0.00	
$208,292.16	

Revenues
On-Roll Assessments On-Roll Assessments
Total Revenues

Expenses
Insurance Trustee Services Management Disclosure District Counsel
Assessment Administration Postage & Shipping
Legal Advertising Reserves
Web Site Maintenance Dues, Licenses, and Fees Insurance - General Interest Payments
Total Expenses

Other Revenues (Expenses) & Gains (Losses)
Interest Income Interest Income
Total Other Revenues (Expenses) & Gains (Losses)

Change In Net Assets

Net Assets At Beginning Of Year

Net Assets At End Of Year

Budget to Actual
For The Month Ending 12/31/2024

Actual

Year To Date

Budget	Variance

FY25 Adopted	Percentage Budget

Revenues

On-Roll Assessments	$27,615.38		$20,503.74		$7,111.64		$82,015.00		33.67%	
Net Revenues	$27,615.38		$20,503.74		$7,111.64		$82,015.00		33.67%	
General & Administrative Expenses

Supervisor Fees	$0.00	$750.00	$(750.00)	$3,000.00	0.00%	
Insurance	3,468.00	917.25	2,550.75	3,669.00	94.52%	
Trustee Services	4,148.38	1,500.00	2,648.38	6,000.00	69.14%	
Management	3,125.01	3,125.01	-	12,500.00	25.00%	
Engineering	-	500.01	(500.01)	2,000.00	0.00%	
Disclosure	1,000.00	1,250.01	(250.01)	5,000.00	20.00%	
District Counsel	273.00	3,000.00	(2,727.00)	12,000.00	2.28%	
Assessment Administration	7,500.00	1,875.00	5,625.00	7,500.00	100.00%	
Reamortization Schedule	-	31.26	(31.26)	125.00	0.00%	
Audit	-	1,224.99	(1,224.99)	4,900.00	0.00%	
Arbitrage Calculation	-	125.01	(125.01)	500.00	0.00%	
Telephone	-	3.75	(3.75)	15.00	0.00%	
Postage & Shipping	8.28	62.49	(54.21)	250.00	3.31%	
Copies	-	50.01	(50.01)	200.00	0.00%	
Legal Advertising	70.20	1,374.99	(1,304.79)	5,500.00	1.28%	
Bank Fees	-	12.51	(12.51)	50.00	0.00%	
Reserves	6,000.00	2,896.50	3,103.50	11,586.00	51.79%	
Office Supplies	-	33.75	(33.75)	135.00	0.00%	
Web Site Maintenance	630.00	650.01	(20.01)	2,600.00	24.23%	
Dues, Licenses, and Fees	175.00	43.74	131.26	175.00	100.00%	
Insurance - General	3,980.00	1,052.49	2,927.51	4,210.00	94.54%	
Landscape Management	-	24.96	(24.96)	100.00	0.00%	

$30,377.87		$20,503.74		$9,874.13		$82,015.00		37.04%	
	$30,377.87			$20,503.74			$9,874.13			$82,015.00			
$(2,762.49)		$0.00		$(2,762.49)		0.00			

$706.74		
$0.00		
$706.74		
$0.00			

Total General & Administrative Expenses Total Expenses
Income (Loss) from Operations

Other Income (Expense)
Interest Income

Total Other Income (Expense)	$706.74		$0.00		$706.74		$0.00	
Net Income (Loss)	$(2,055.75)		$0.00		$(2,055.75)		$0.00