Shingle Creek Transit & Utility CDD
June 2025 Financial Package

June 30, 2025

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

Shingle Creek Transit & Utility CDD	
Statement of Financial Position	
As of 6/30/2025	

General Fund	Debt Service	Capital Projects	West Wall	Boundary	Capital Projects	Long Term Debt	Total	
	Fund 2024	Fund 2023	Construction	Amendment	Fund 2024	Group		

					Assets											
Current Assets																
General Checking Account	$	16,604.54														$	16,604.54	
Prepaid Expenses	2,000.00														2,000.00	
Debt Service Reserve Series 2024			$	546,651.65												546,651.65	
Revenue Series 2024			767.52												767.52	
Project Account					$	422,384.33										422,384.33	
Cost of Issuance Account					79.65										79.65	
Project Account Series 2024											$	38,337.39				38,337.39	
Cost of Issuance Series 2024											12,045.28				12,045.28	
Total Current Assets	$	18,604.54		$	547,419.17		$	422,463.98		$	-		$	-		$	50,382.67		$	-		$	1,038,870.36	

Investments	
Amount Available in Debt Service Funds	
Amount To Be Provided	

$	547,419.17	
69,217,580.83	

$	547,419.17	
69,217,580.83	

Total Investments	$	-	     
$	-	$	-	$	-	$	-	$	-	$	69,765,000.00		$	69,765,000.00	
Total Assets	$	18,604.54	     
$	547,419.17	$	422,463.98	$	-	$	-	$	50,382.67	$	69,765,000.00		$	70,803,870.36	

Liabilities and Net Assets			
					
	$	25,942.82				
		$	779,719.82			
	$	25,942.82	     
$	-	$	779,719.82	$	-	$	-	$	-	$	-			

    			
		$	-	$	-	$	-	$	-	$	-			
Total Liabilities	$	25,942.82	     
$	-	$	779,719.82	$	-	$	-	$	-	$	69,765,000.00		$	70,570,662.64	

$	15,921.16	
(23,259.44)	

Current Liabilities	
Accounts Payable	
Retainage Payable	
Total Current Liabilities	

$	25,942.82	
779,719.82	
$	805,662.64	

$	54,000,000.00	
15,765,000.00	
$	69,765,000.00	

$	54,000,000.00	
15,765,000.00	
$	69,765,000.00	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term Note		
Revenue Bonds Payable- Long Term Bond		
Total Long Term Liabilities	$	-	

Net Assets	
Net Assets - General Government	
Current Year Net Assets - General Government	
Current Year Net Assets, Unrestricted	
Net Assets, Unrestricted	
Current Year Net Assets, Unrestricted	
Current Year Net Assets, Unrestricted	

$	15,921.16	
(23,259.44)	
547,419.17	
(1,143,320.16)	
786,064.32	
50,382.67	

$	547,419.17
$ (1,143,320.16)	
786,064.32	
$	50,382.67

Total Net Assets

$	(7,338.28)

$	547,419.17

$  (357,255.84)	$

-	$	-

$	50,382.67	$

-	$	233,207.72

       

Total Liabilities and Net Assets

$	18,604.54

$	547,419.17

$	422,463.98	$

-	$	-

$	50,382.67

$	69,765,000.00

$	70,803,870.36

Shingle Creek Transit & Utility CDD	
Statement of Activities	
As of 6/30/2025	

General Fund	Debt Service	Capital Projects	West Wall	Boundary	Capital Projects	Long Term	Total	
	Fund 2024	Fund 2023	Construction	Amendment	Fund 2024	Debt Group		

Revenues

Developer Contributions	
Developer Contributions	
Other Income & Other Financing Sources	
Debt Proceeds	
Inter-Fund Transfers In	
Debt Proceeds	
Developer Contributions	
Developer Contributions	
Inter-Fund Transfers In	
Debt Proceeds	
Total Revenues	

$	315,300.00	
661,395.33	
319,893.00	
533,182.50	
(285,000.00)	
13,000,000.00	
398,994.60	
12,005.00	
285,000.00	
15,141,609.55	
$ 30,382,379.98	

$  315,300.00
$	661,395.33	
319,893.00	
533,182.50	

$  (285,000.00)	
13,000,000.00	
$  398,994.60

$	285,000.00	
15,141,609.55	
$ 15,426,609.55	

$  12,005.00

$  315,300.00

$ 1,514,470.83

$ 12,715,000.00

$  398,994.60

$  12,005.00	$	-

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

$	2,280.81	
14,236.67	
29,091.39	
39,283.98	
$	84,892.85	

$	-	
$	-	

Expenses

$	2,340.00	
6,000.00	
37,500.03	
80,250.62	
34,008.91	
4,200.00	
42.87	
4,397.82	
1,500.00	
2,265.00	
175.00	
2,860.00	
165,300.00	

$	8,000.00	
235,000.00	
418,395.33	
319,893.00	

$	1.29	
11,958,025.78	

$  367,708.04	
31,286.56	

Public Official Insurance	
Trustee Services	
Management	
Engineering	
District Counsel	
Audit	
Postage & Shipping	
Legal Advertising	
Contingency	
Web Site Maintenance	
Dues, Licenses, and Fees	
General Insurance	
Mass Transit Systems	
Trustee Fee	
Principal Payments	
Interest Payment	
Other Debt Service Costs	
Other Financing Uses	
Capital Expenditures	
Engineering	
District Counsel	
District Counsel	
Trustee Services	
Management	
District Counsel	
Trustee Counsel	
Bond Counsel	
District Counsel - Extraordinary	
Assessment Administration	
Financial Adviser	
Copies	
Other Debt Service Costs	
Other Financing Uses	
Capital Expenditures	
Total Expenses	

$	2,340.00	
6,000.00	
37,500.03	
80,250.62	
34,008.91	
4,200.00	
42.87	
4,397.82	
1,500.00	
2,265.00	
175.00	
2,860.00	
165,300.00	
8,000.00	
235,000.00	
418,395.33	
319,893.00	
1.29	
11,958,025.78	
367,708.04	
31,286.56	
12,005.00	
2,375.00	
10,000.00	
65,000.00	
1,500.00	
80,817.26	
27,220.68	
25,500.00	
40,317.11	
3,021.10	
17,500.00	
7,725,123.61	
7,417,136.10	
$ 29,106,666.11	

$	2,375.00		
10,000.00		
65,000.00		
1,500.00		
80,817.26		
27,220.68		
25,500.00		
40,317.11		
3,021.10		
17,500.00		
7,725,123.61		
7,417,136.10		
$ 15,415,510.86	#	

$  12,005.00

Other Revenues (Expenses) & Gains (Losses)	$  340,840.25		$	981,288.33		$ 11,958,027.07		$  398,994.60		$  12,005.00				
	$	2,280.81												
			$	14,236.67		
$	29,091.39				

$	39,283.98				
	$	2,280.81		$	14,236.67		$	29,091.39		$	-		$	-	$	39,283.98		$	-		
Change In Net Assets	$  (23,259.44)		$	547,419.17		$  786,064.32		$	-		$	-	$	50,382.67				$ 1,360,606.72	
Net Assets At Beginning Of Year	$	15,921.16		$	-		$ (1,143,320.16)		$	-		$	-	$	-				$ (1,127,399.00)	

Net Assets At End Of Year	
$	(7,338.28)		
$	547,419.17		
$  (357,255.84)		
$	-		 

$	-	$	50,382.67				
$	233,207.72	

Shingle Creek Transit & Utility CDD	
Budget to Actual	
For the Period Ending 06/30/2025	

Year To Date	
Actual	Budget	Variance	FY 2025
Adopted Budget	

Percentage

Revenues	
Developer Contributions	
Net Revenues	

$	315,300.00		$	144,131.25	
$	315,300.00		$	144,131.25	

$	171,168.75		$ 192,175.00		164.07%	
$	171,168.75		$ 192,175.00		164.07%	

General & Administrative Expenses	
Public Official Insurance	
Trustee Fees	
District Management	
Engineering	
Engineering- Stormwater Report	
Disclosure Fees	
District Counsel	
Audit	
Assessment Administration	
Reamortization Schedule	
Property Appraiser	
Travel & Per Diem	
Postage & Shipping	
Copies	
Telephone / Webex	
Office Misc.	
Legal Advertising	
Web Site Maintenance	
Dues, Licenses, and Fees	
Bank Fees	
General Insurance	
Property & Casualty Insurance	
Mass Transit Systems	
Contingency	
Total General & Administrative Expenses	

$	2,340.00		$	2,325.00	
6,000.00		5,625.00	
37,500.03		37,500.00	
80,250.62		30,000.00	
-		4,125.00	
-		750.00	
34,008.91		33,750.00	
4,200.00		3,187.50	
-		3,750.00	
-		187.50	
-		375.00	
-		187.50	
42.87		375.00	
-		187.50	
-		37.50	
-		975.00	
4,397.82		9,187.50	
2,265.00		2,565.00	
175.00		131.25	
-		285.00	
2,860.00		3,000.00	
-		1,500.00	
165,300.00		-	
1,500.00		4,125.00	
$	340,840.25		$	144,131.25	

$	15.00		$	3,100.00		75.48%	
375.00		7,500.00		80.00%	
0.03		50,000.00		75.00%	
50,250.62		40,000.00		200.63%	
(4,125.00)		5,500.00		0.00%	
(750.00)		1,000.00		0.00%	
258.91		45,000.00		75.58%	
1,012.50		4,250.00		98.82%	
(3,750.00)		5,000.00		0.00%	
(187.50)		250.00		0.00%	
(375.00)		500.00		0.00%	
(187.50)		250.00		0.00%	
(332.13)		500.00		8.57%	
(187.50)		250.00		0.00%	
(37.50)		50.00		0.00%	
(975.00)		1,300.00		0.00%	
(4,789.68)		12,250.00		35.90%	
(300.00)		3,420.00		66.23%	
43.75		175.00		100.00%	
(285.00)		380.00		0.00%	
(140.00)		4,000.00		71.50%	
(1,500.00)		2,000.00		0.00%	
165,300.00		-		0.00%	
(2,625.00)		5,500.00		27.27%	
$	196,709.00		$ 192,175.00		177.36%	

Total Expenses

Other Income (Expense)	
Interest Income	
Total Other Income (Expense)	
Net Income (Loss)	

 $	340,840.25	 $	144,131.25	 $	196,709.00	 $ 192,175.00

$	2,280.81		$	-	
$	2,280.81		$	-	

$	2,280.81		$	-	
$	2,280.81		$	-	

$	(23,259.44)	$	-	$	(23,259.44)	$	-