Shingle Creek Transit & Utility CDD
December 2025 Financial Package

December 31, 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 12/31/2025	

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

					Assets												
Current Assets																	
General Checking Account	$	140,042.68															$	140,042.68	
Due From Other Funds	6,435.18															6,435.18	
Debt Service Reserve Series 2024			$  557,969.26													557,969.26	
Revenue Series 2024			11,541.72													11,541.72	
General Checking Account					$	13,084.38											13,084.38	
Project Account					2,887,941.00											2,887,941.00	
Cost of Issuance Account					80.01											80.01	
Due From Other Funds						$	26,781.21										26,781.21	
Project Account Series 2024					
							$	39,131.11				39,131.11	
Total Current Assets	$	146,477.86		$  569,510.98		$	2,901,105.39	$	26,781.21		$	-		$	-		$	39,131.11		$	-		$	3,683,006.55	

Investments	
Amount Available in Debt Service Funds	
Amount To Be Provided	

$	569,510.98	
69,195,489.02	

$	569,510.98	
69,195,489.02	

        

Total Investments	$	-	$	-	$	-	$	-	$	-	$	-	$	-

$  69,765,000.00

$	69,765,000.00

        

Total Assets

$	146,477.86

$  569,510.98

$	2,901,105.39	$

26,781.21	$	-	$

-	$	39,131.11

$  69,765,000.00

$	73,448,006.55

Liabilities and Net Assets

$	16,896.00	
20,183.12	

$	1,277,016.63	
13,033.27	

Current Liabilities	
Accounts Payable	
Due To Other Funds	
Retainage Payable	
Accounts Payable	
Retainage Payable	
Total Current Liabilities	

$	37,079.12	$

-	$	1,290,049.90

$	414,622.44

$	16,896.00	
20,183.12	
1,277,016.63	
13,033.27	
414,622.44	
$	1,741,751.46	

$	414,622.44	$	-	$	-	$	-	$	-

     

$  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	$	-	

$	-	$	-	$	-	$	-	$	-	$	-

Total Liabilities

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

$	37,079.12	$

$	89,724.41	
19,674.33	

-	$	1,290,049.90

$	414,622.44	$	-	$	-	$

$	(76,860.23)	
(310,981.00)	

-	$  69,765,000.00

$	71,506,751.46

$	89,724.41
19,674.33
553,222.77
16,288.21
1,728,139.28
(117,083.79)
- (76,860.23)
(310,981.00)

Net Assets, Unrestricted	
Current Year Net Assets, Unrestricted	

	
$	50,916.81	
(11,785.70)	

	
50,916.81	
(11,785.70)	

        

$  553,222.77	
16,288.21	

$	1,728,139.28	
(117,083.79)	

Total Net Assets

$	109,398.74

$  569,510.98

$	1,611,055.49

$	(387,841.23)	$	-	$

-	$	39,131.11	$

-	$	1,941,255.09

        

Total Liabilities and Net Assets

$	146,477.86

$  569,510.98

$	2,901,105.39	$

26,781.21	$	-	$

-	$	39,131.11

$  69,765,000.00  $

73,448,006.55

Shingle Creek Transit & Utility CDD	
Statement of Activities	
As of 12/31/2025	

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

Revenues

Developer Contributions	
Developer Contributions	
Inter-Fund Transfers In	
Developer Contributions	
Developer Contributions	
Developer Contributions	
Inter-Fund Transfers In	
Total Revenues	

$  204,903.00

$  204,903.00

$  419,275.30
9,372.55

$  428,647.85	$

$ 2,160,069.10

-	$ 2,160,069.10

$	6,281.59
$

$	6,281.59	$

3,024.00
$
3,024.00	$

(9,372.55)

$	204,903.00	
419,275.30	
9,372.55	
2,160,069.10	
6,281.59	
3,024.00	
(9,372.55)	
$  2,793,552.99	

(9,372.55)	$	-

$	2,480.00	
2,000.00	
12,500.01	
7,275.40	
6,500.00	
29.18	
4,887.86	
555.00	
175.00	
500.00	
3,032.00	
147,171.00	
418,678.75	
124,963.30	
607.44	
770.50	
2,916.78	
2,236,321.89	
$  2,971,364.11	

Expenses

$	2,480.00	
2,000.00	
12,500.01	
7,275.40	
6,500.00	
29.18	
4,887.86	
555.00	
175.00	
500.00	
3,032.00	
147,171.00	

Public Official Insurance	
Trustee Services	
Management	
District Counsel	
Audit	
Postage & Shipping	
Legal Advertising	
Web Site Maintenance	
Dues, Licenses, and Fees	
Other Insurance	
General Insurance	
Mass Transit Systems	
Interest Payment	
Capital Expenditures	
District Counsel	
District Counsel	
Bond Counsel	
Capital Expenditures	
Total Expenses	

$  187,105.45

$  418,678.75
$

$	418,678.75	$

124,963.30

124,963.30

$	607.44

$ 2,236,321.89

$ 2,236,929.33	$

$	770.50

$	2,916.78	#		

$

-	$	770.50

2,916.78

Other Revenues (Expenses) & Gains (Losses)

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

$	1,876.78						
		$	6,319.11				
				$	7,879.51		
												$	503.63			
$	1,876.78		$	6,319.11		$	7,879.51		$	-		$	-		$	-		$	503.63		$	-	

$	1,876.78	
6,319.11	
7,879.51	
503.63	
$	16,579.03	

Change In Net Assets

$	19,674.33

$	16,288.21

$	(117,083.79)

$	(76,860.23)

$	6,281.59	$

2,253.50	$

(11,785.70)

$  (161,232.09)

Net Assets At Beginning Of Year

Net Assets At End Of Year

$	89,724.41

$  109,398.74

$  553,222.77

$	569,510.98

$  1,728,139.28

$  1,611,055.49

$  (310,981.00)

$  (387,841.23)

$  (6,281.59)	$

$	-	$

(2,253.50)	$

-	$

50,916.81

39,131.11

$  2,102,487.18

$	-	
$	-	

$  1,941,255.09

Shingle Creek Transit & Utility CDD	
Budget to Actual	
For the Period Ending 12/31/2025	

Revenues	
Developer Contributions	
Net Revenues	

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	
Tax Preparation Fees	
Bank Fees	
General Insurance	
Property & Casualty Insurance	
Additional Insurance	
Mass Transit Systems	
Contingency	
Total General & Administrative Expenses	

Total Expenses

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

Year To Date

$	(6,169.50)		$ 844,290.00		24.27%	
$	(6,169.50)		$ 844,290.00		24.27%	

$	2,480.00	
2,000.00	
12,500.01	
-	
-	
-	
7,275.40	
6,500.00	
-	
-	
-	
-	
29.18	
-	
-	
-	
4,887.86	
555.00	
175.00	

$	852.50	
1,875.00	
12,500.00	
24,000.00	
1,375.00	
250.00	
15,000.00	
1,062.50	
1,250.00	
62.50	
125.00	
62.50	
125.00	
62.50	
6.25	
125.00	
3,062.50	
855.00	
43.75	
25.00	
95.00	
1,100.00	
550.00	
337.50	
144,895.00	
1,375.00	
$	211,072.50	

$	1,627.50		$	3,410.00		72.73%	
125.00		7,500.00		26.67%	
0.01		50,000.00		25.00%	
(24,000.00)		96,000.00		0.00%	
(1,375.00)		5,500.00		0.00%	
(250.00)		1,000.00		0.00%	
(7,724.60)		60,000.00		12.13%	
5,437.50		4,250.00		152.94%	
(1,250.00)		5,000.00		0.00%	
(62.50)		250.00		0.00%	
(125.00)		500.00		0.00%	
(62.50)		250.00		0.00%	
(95.82)		500.00		5.84%	
(62.50)		250.00		0.00%	
(6.25)		25.00		0.00%	
(125.00)		500.00		0.00%	
1,825.36		12,250.00		39.90%	
(300.00)		3,420.00		16.23%	
131.25		175.00		100.00%	
(25.00)		100.00		0.00%	
(95.00)		380.00		0.00%	
1,932.00		4,400.00		68.91%	
(550.00)		2,200.00		0.00%	
162.50		1,350.00		37.04%	
2,276.00		579,580.00		0.00%	
(1,375.00)		5,500.00		0.00%	
$	(23,967.05)		$ 844,290.00		22.16%	

Actual	Budget	Variance		FY 2026 Adopted Budget

$	204,903.00		$	211,072.50	
$	204,903.00		$	211,072.50	

-	
3,032.00	
-	
500.00	
147,171.00	
-	
$	187,105.45	

$	1,876.78		$	-	
$	1,876.78		$	-	

  $	187,105.45	 $	211,072.50	 $	(23,967.05)	 $ 844,290.00

$	1,876.78		$	-	
$	1,876.78		$	-	

$	19,674.33	$	-	$	19,674.33	$	-

Percentage Spent