Palace at Coral Gables CDD
September 2025 Financial Package

September 30, 2025

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

Palace at Coral Gables
Statement of Financial Position
As of 9/30/2025

Current Assets
General Checking Account
Accounts Receivable - Due from Developer Prepaid Expenses
Debt Service Reserve Bond Revenue Bond
Parking Revenue Bond Total Current Assets

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

Total Assets

    

    

    

General Fund	De	bt Service	Capital Projects	Long-Term	Total
Fund	Fund	Debt Group	

Assets		

$12,143.50	
$12,143.50	
12,506.63	12,506.63	
7,078.97	7,078.97	
	$631,687.50	631,687.50	
	12,373.84	12,373.84	
	0.03	0.03	
$31,729.10	$644,061.37	$0.00	$0.00	$675,790.47

$644,061.37		$644,061.37 6,285,938.63	6,285,938.63	
$0.00	$0.00	$0.00	$6,930,000.00	$6,930,000.00	
$31,729.10	$644,061.37	$0.00	$6,930,000.00	$7,605,790.47	

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable LongTerm Total Long Term Liabilities

$13,836.09 12,506.63

$26,342.72	$0.00

 
$0.00	$0.00

$0.00

$0.00

$0.00

$6,930,000.00

$6,930,000.00

$13,836.09 12,506.63

$26,342.72

$6,930,000.00

$6,930,000.00

    

Total Liabilities

Net Assets

$26,342.72	$0.00

$0.00

$6,930,000.00	$6,956,342.72

Net Assets - General Government	$9,208.44								$9,208.44	
Current Year Net Assets - General Government	(3,822.06)								(3,822.06)	
Net Assets, Unrestricted			$648,790.07						648,790.07	
Current Year Net Assets, Unrestricted			(4,728.70)						(4,728.70)	
Net Assets, Unrestricted					$1,223,456.96				1,223,456.96	
Net Assets - General Government					(1,223,456.96)				(1,223,456.96)	
Total Net Assets	$5,386.38		$644,061.37		$0.00		$0.00		$649,447.75	
										
Total Liabilities and Net Assets	$31,729.10		$644,061.37		$0.00		$6,930,000.00		$7,605,790.47	

Palace at Coral Gables Statement of Activities As of 9/30/2025

General Fund	Debt Service
Fund		

Capital Projects Fund		

Long-Term Debt Group		

Total	

$59,789.23

$59,789.23		

$602,466.72
$602,466.72		

$0.00		

$0.00		
$59,789.23 602,466.72
$662,255.95	

$3,303.00 4,770.63
37,500.00
1,000.00
6,920.00
4,200.00
1,000.00
2.76
2,569.77
60.00
2,630.00
175.00

$64,131.16		

$245,000.00 388,812.50
$633,812.50		

$0.00		

$0.00		
$3,303.00 4,770.63
37,500.00
1,000.00
6,920.00
4,200.00
1,000.00
2.76
2,569.77
60.00
2,630.00
175.00
245,000.00
388,812.50
$697,943.66	

$519.87

$519.87 ($3,822.06)
$9,208.44		

$26,617.08
$26,617.08 ($4,728.70)
$648,790.07		

$0.00

$0.00

$0.00		

$0.00

$0.00

$0.00		
$519.87 26,617.08
$27,136.95 ($8,550.76)
$657,998.51	

$5,386.38		
$644,061.37		
$0.00		
$0.00		
$649,447.75	

Revenues
Developer Contributions Off-Roll Assessments
Total Revenues

Expenses
D & O Insurance Trustee Services Management Disclosure District Counsel Audit
Arbitrage Calculation Postage & Shipping Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Principal Payments 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

Palace at Coral Gables
Budget to Actual
For The Month Ending 9/30/2025

Year To Date

Actual		Budget			Variance		Adopted Budget	

$	

59,789.23		

$	

74,414.00		

$	

(14,624.77)		

$ 74,414.00	
$	59,789.23		$	74,414.00		$	(14,624.77)		$ 74,414.00	

$	
3,303.00		
$	
3,494.00		
$	
(191.00)		
$  3,494.00	
	4,770.63			5,000.00			(229.37)		5,000.00	
	37,500.00			37,500.00			-		37,500.00	
	-			100.00			(100.00)		100.00	
	1,000.00			1,000.00			-		1,000.00	
	6,920.00			15,000.00			(8,080.00)		15,000.00	
	-			250.00			(250.00)		250.00	
	4,200.00			5,850.00			(1,650.00)		5,850.00	
	1,000.00			500.00			500.00		500.00	
	-			500.00			(500.00)		500.00	
	2.76			150.00			(147.24)		150.00	
	-			50.00			(50.00)		50.00	
	2,569.77			2,000.00			569.77		2,000.00	
	60.00			250.00			(190.00)		250.00	
	-			50.00			(50.00)		50.00	
	2,630.00			2,520.00			110.00		2,520.00	
	175.00			200.00			(25.00)		200.00	
$	64,131.16		$	74,414.00		$	(10,282.84)		$ 74,414.00	
 $		64,131.16		 $		74,414.00		 $		(10,282.84)			$	-	
$	(4,341.93)		$	-		$	(4,341.93)		$	-	

$	
519.87		
$	
-		
$	519.87		
$	-	
$	519.87		$	-		$	519.87		$	-	
$	(3,822.06)		$	-		$	(3,822.06)		$	-	

FY 2025

Percentage

Revenues
Developer Contributions
Net Revenues
General & Administrative Expenses
D & O Insurance Trustee Services Management Engineering Disclosure District Counsel
Reamortization Schedule Audit
Arbitrage Calculation Travel and Per Diem Postage & Shipping Copies
Legal Advertising Miscellaneous Office Supplies
Web Site Maintenance Dues, Licenses, and Fees
Total General & Administrative Expenses

Total Expenses

Income (Loss) from Operations

Other Income (Expense)
Interest Income
Total Other Income (Expense)

Net Income (Loss)

80.35%

80.35%

94.53%
95.41%
100.00%
0.00%
100.00%
46.13%
0.00%
71.79%
200.00%
0.00%
1.84%
0.00%
128.49%
24.00%
0.00%
104.37%
87.50%

86.18%