Palace at Coral Gables CDD
February 2026 Financial Package

February 28, 2026

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 2/28/2026	
	
General Fund	
Debt Service Fund	
Capital Projects Fund	
Long-Term Debt Group	
Total	
	
Assets	
Current Assets		
General Checking Account	$11,795.36				$11,795.36	
Accounts Receivable - Due from Developer	12,385.00				12,385.00	
Debt Service Reserve Bond		$631,687.50			631,687.50	
Revenue Bond		8,150.42			8,150.42	
Parking Revenue Bond	
	0.03	
	
	0.03	
Total Current Assets	$24,180.36	$639,837.95	$0.00	$0.00	$664,018.31	

Investments		
Amount Available in Debt Service Funds				$639,837.95	$639,837.95	
Amount To Be Provided	

	6,290,162.05	6,290,162.05	
Total Investments	$0.00	$0.00	$0.00	$6,930,000.00	$6,930,000.00	
Total Assets	
$24,180.36	
$639,837.95	
$0.00	
$6,930,000.00	
$7,594,018.31	

Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$12,385.00				$12,385.00	
Deferred Revenue	12,385.00	

	12,385.00	
Total Current Liabilities	$24,770.00	$0.00	$0.00	$0.00	$24,770.00	

Long Term Liabilities		
Revenue Bonds Payable LongTerm	

	$6,930,000.00	$6,930,000.00	
Total Long Term Liabilities	$0.00	$0.00	$0.00	$6,930,000.00	$6,930,000.00	
Total Liabilities	
$24,770.00	
$0.00	
$0.00	
$6,930,000.00	
$6,954,770.00	

Net Assets	    	
Net Assets - General Government	$5,386.38				$5,386.38	
Current Year Net Assets - General Government	(5,976.02)				(5,976.02)	
Net Assets, Unrestricted		$646,236.45			646,236.45	
Current Year Net Assets, Unrestricted		(6,398.50)			(6,398.50)	
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	($589.64)	$639,837.95	$0.00	$0.00	$639,248.31	

    	
Total Liabilities and Net Assets	$24,180.36	$639,837.95	$0.00	$6,930,000.00	$7,594,018.31	

Palace at Coral Gables Statement of Activities As of 2/28/2026

General Fund	Debt Service
Fund		

Capital Projects Fund		

Long-Term Debt Group		

Total	

$27,695.04

$27,695.04		

$173,732.33
$173,732.33		

$0.00		

$0.00		
$27,695.04 173,732.33
$201,427.37	

$3,501.00 3,577.97
15,625.00
1,000.00
3,010.00
5,300.00
0.74
737.67
925.00
175.00

$33,852.38		

$188,281.25
$188,281.25		

$0.00		

$0.00		
$3,501.00 3,577.97
15,625.00
1,000.00
3,010.00
5,300.00
0.74
737.67
925.00
175.00
188,281.25
$222,133.63	

$181.32

$181.32 ($5,976.02)
$5,386.38		

$8,150.42
$8,150.42 ($6,398.50)
$646,236.45		

$0.00

$0.00

$0.00		

$0.00

$0.00

$0.00		
$181.32 8,150.42
$8,331.74 ($12,374.52)
$651,622.83	

($589.64)		
$639,837.95		
$0.00		
$0.00		
$639,248.31	

Revenues
Developer Contributions Off-Roll Assessments
Total Revenues

Expenses
D & O Insurance Trustee Services Management Disclosure District Counsel Audit
Postage & Shipping Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees 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 2/28/2026	

Year To Date	
		Actual	Budget		Variance	FY 2026
Adopted Budget	Percentage	

Revenues						
Developer Contributions	$	27,695.04	$	31,005.85		$	(3,310.81)	$ 74,414.00	37.22%	
Net Revenues	$	27,695.04	
$	31,005.85		$	(3,310.81)	
$ 74,414.00	
37.22%	
General & Administrative Expenses						
D & O Insurance	$	3,501.00	$	1,514.15		$	1,986.85	$	3,634.00	96.34%	
Trustee Services		3,577.97	2,083.35			1,494.62	5,000.00	71.56%	
Management		15,625.00	15,625.00			-	37,500.00	41.67%	
Engineering		-	41.65			(41.65)	100.00	0.00%	
Disclosure		1,000.00	416.65			583.35	1,000.00	100.00%	
District Counsel		3,010.00	6,250.00			(3,240.00)	15,000.00	20.07%	
Reamortization Schedule		-	104.15			(104.15)	250.00	0.00%	
Audit		5,300.00	2,304.15			2,995.85	5,530.00	95.84%	
Arbitrage Calculation		-	208.35			(208.35)	500.00	0.00%	
Tax Preparation		-	6.25			(6.25)	15.00	0.00%	
Travel and Per Diem		-	208.35			(208.35)	500.00	0.00%	
Postage & Shipping		0.74	62.50			(61.76)	150.00	0.49%	
Copies		-	14.60			(14.60)	35.00	0.00%	
Legal Advertising		737.67	833.35			(95.68)	2,000.00	36.88%	
Miscellaneous		-	104.15			(104.15)	250.00	0.00%	
Office Supplies		-	20.85			(20.85)	50.00	0.00%	
Web Site Maintenance		925.00	1,125.00			(200.00)	2,700.00	34.26%	
Dues, Licenses, and Fees		175.00	83.35			91.65	200.00	87.50%	
Total General & Administrative Expenses	$	33,852.38	
$	31,005.85		$	2,846.53	
$ 74,414.00	
45.49%	
Total Expenses	 $		33,852.38	 $	31,005.85		 $		2,846.53		$	-		
Income (Loss) from Operations	$	(6,157.34)	$	-		$	(6,157.34)	$	-		
Other Income (Expense)						
Interest Income	$	181.32	$	-		$	181.32	$	-		
Total Other Income (Expense)	$	181.32	
$	-		$	181.32	
$	-		
Net Income (Loss)	$	(5,976.02)	
$	-		$	(5,976.02)	
$	-