Shingle Creek Transit & Utility CDD
February 2026 Financial Package

February 28, 2026

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

Statement of Financial Position As of 02/28/2026

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	$	23,602.79							$	23,602.79	
Prepaid Expenses	2,000.00							2,000.00	
Debt Service Reserve Series 2024		$  561,427.16						561,427.16	
Revenue Series 2024		13,075.47						13,075.47	
General Checking Account			$	6,732.06					6,732.06	
Project Account			1,093,589.10					1,093,589.10	
Cost of Issuance Account			80.09					80.09	
Due From Other Funds			$	6,598.09					6,598.09	
Project Account Series 2024					$	39,373.62			39,373.62	
Due From Other Funds			
	$	1,015.00		
		1,015.00	
Total Current Assets	$	25,602.79	$  574,502.63	$	1,100,401.25	$	6,598.09	$	-	$	1,015.00	$	39,373.62	$	-		$	1,747,493.38	
Investments									
Amount Available in Debt Service Funds						$	574,502.63		$	574,502.63	
Amount To Be Provided			
	
		69,190,497.37		69,190,497.37	
Total Investments	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  69,765,000.00		$	69,765,000.00	

Total Assets	$	25,602.79		$  574,502.63		$	1,100,401.25		$	6,598.09		 
$	-	$	1,015.00		$	39,373.62		$  69,765,000.00		$	71,512,493.38	

Liabilities and Net Assets

Current Liabilities		
Accounts Payable	$	2,305.80							$	2,305.80	
Due To Other Funds	1,015.00							1,015.00	
Retainage Payable			$	1,297,178.58					1,297,178.58	
Due To Other Funds			6,598.09					6,598.09	
Retainage Payable			
 		$	414,622.44		
  	414,622.44	
Total Current Liabilities	$	3,320.80		$	-	$	1,303,776.67		$	414,622.44		$	-	$	-	$	-	$	-	$	1,721,719.91	

Long Term Liabilities
Revenue Bonds Payable - Long-Term Note							

$  54,000,000.00		

$	54,000,000.00	
Revenue Bonds Payable- Long Term Bond			

		15,765,000.00		15,765,000.00	
Total Long Term Liabilities	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  69,765,000.00		$	69,765,000.00	

Total Liabilities	$	3,320.80		 
$	-	$	1,303,776.67		$	414,622.44		   
$	-	$	-	$	-	$  69,765,000.00		$	71,486,719.91	

Net Assets			 				   			
Net Assets - General Government	$	89,724.41								$	89,724.41	
Current Year Net Assets - General Government	(67,442.42)								(67,442.42)	
Net Assets, Unrestricted			$  553,222.77						553,222.77	
Current Year Net Assets, Unrestricted			21,279.86						21,279.86	
Net Assets, Unrestricted			$	1,728,139.28						1,728,139.28	
Current Year Net Assets, Unrestricted			(1,931,514.70)						(1,931,514.70)	
									-	
Current Year Net Assets- General Government	$	(97,043.35)			(97,043.35)	
Net Assets, Unrestricted	(310,981.00)			(310,981.00)	
Net Assets, Unrestricted		$	(2,253.50)		(2,253.50)	
Current Year Net Assets- General Government		3,268.50		3,268.50	
Net Assets, Unrestricted			$	50,916.81	50,916.81	
Current Year Net Assets, Unrestricted		
 	(11,543.19)	(11,543.19)	
Total Net Assets	$	22,281.99		$  574,502.63		$	(203,375.42)		$	(408,024.35)		$	-	$	1,015.00		$	39,373.62		$	-	$	25,773.47	

Total Liabilities and Net Assets	$	25,602.79		$  574,502.63		$	1,100,401.25		$	6,598.09		 
$	-	$	1,015.00		$	39,373.62		$  69,765,000.00		$	71,512,493.38	

Statement of Activities As of 02/28/2026

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	$	303,017.00															$	303,017.00	
Developer Contributions			$	419,275.30														419,275.30	
Inter-Fund Transfers In				10,843.61														10,843.61	
Developer Contributions							$	2,160,069.10										2,160,069.10	
Developer Contributions									$	6,281.59								6,281.59	
Developer Contributions											$	30,824.00						30,824.00	
Inter-Fund Transfers In													$	(10,843.61)				(10,843.61)	
Total Revenues	$	303,017.00	$	430,118.91	$	-	$	2,160,069.10	$	6,281.59	$	30,824.00	$	(10,843.61)	$	-	$	2,919,466.99	
Expenses																			
Public Official Insurance	$	2,480.00															$	2,480.00	
Trustee Services		8,000.00																8,000.00	
Management		20,833.35																20,833.35	
Engineering		18,697.53																18,697.53	
District Counsel		9,958.70																9,958.70	
Audit		8,300.00																8,300.00	
Postage & Shipping		55.65																55.65	
Legal Advertising		5,118.54																5,118.54	
Web Site Maintenance		1,225.00																1,225.00	
Dues, Licenses, and Fees		175.00																175.00	
Other Insurance		500.00																500.00	
General Insurance		3,032.00																3,032.00	
Mass Transit Systems		294,342.00																294,342.00	
Bank Fees			$	111.51															
Interest Payment				418,678.75														418,678.75	
Capital Expenditures					$	1,941,265.54												1,941,265.54	
Engineering							$	19,680.00										19,680.00	
District Counsel								1,110.56										1,110.56	
Capital Expenditures								2,236,321.89										2,236,321.89	
Engineering											$	24,607.50						24,607.50	
District Counsel												2,948.00						2,948.00	
Bond Counsel													$	1,458.39				1,458.39	
Bank Fees														7.95				7.95	
Total Expenses	$	372,717.77	$	418,790.26	$	1,941,265.54	$	2,257,112.45	$	-	$	27,555.50	$	1,466.34	#		$	5,018,796.35	
Other Revenues (Expenses) & Gains (Losses)

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

$	

2,258.35															

$	

2,258.35
9,951.21
9,750.84
766.76
22,727.16	
			$	9,951.21															
					$	9,750.84													
													$	766.76					
	$	2,258.35	$	9,951.21	$	9,750.84	$	-	$	-	$	-	$	766.76	$	-	$		
Change In Net Assets	$	(67,442.42)	$	21,279.86	$	(1,931,514.70)	$	(97,043.35)	$	6,281.59	$	3,268.50	$	(11,543.19)			$	(2,076,713.71)	

Net Assets At Beginning Of Year	
$	
89,724.41	
$	
553,222.77	
$	
1,728,139.28	
$	
(310,981.00)	
$	
(6,281.59)	
$	
(2,253.50)	
$	
50,916.81	

$	

-	
$	
2,102,487.18	
Net Assets At End Of Year	$	22,281.99	$	574,502.63	$	(203,375.42)	$	(408,024.35)	$	-	$	1,015.00	$	39,373.62	$	-	$	25,773.47	

Shingle Creek Transit & Utility CDD
Budget to Actual
For the Period Ending 02/28/2026

Year To Date
Actual	Budget

Variance

FY 2026
Adopted Budget

Percentage Spent

Revenues

Developer Contributions	$	303,017.00		$	351,787.50		$	(48,770.50)		$ 844,290.00		35.89%	
Net Revenues	$	303,017.00		$	351,787.50		$	(48,770.50)		$ 844,290.00		35.89%	

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)

$	2,480.00	$	1,420.83
8,000.00	3,125.00
20,833.35	20,833.33
18,697.53	40,000.00
-	2,291.67
-	416.67
9,958.70	25,000.00
8,300.00	1,770.83
-	2,083.33
-	104.17
-	208.33
-	104.17
55.65	208.33
-	104.17
-	10.42
-	208.33
5,118.54	5,104.17
1,225.00	1,425.00
175.00	72.92
41.67
-	158.33
3,032.00	1,833.33
-	916.67
500.00	562.50
294,342.00	241,491.67
-	2,291.67

$	372,717.77	$	351,787.50

  $	372,717.77	 $	351,787.50

$	2,258.35	$	-

$	2,258.35	$	-

$	(67,442.42)	$	-

$	1,059.17
4,875.00
0.02
(21,302.47)
(2,291.67)
(416.67)
(15,041.30)
6,529.17
(2,083.33)
(104.17)
(208.33)
(104.17)
(152.68)
(104.17)
(10.42)
(208.33)
14.37
(200.00)
102.08
(41.67)
(158.33)
1,198.67
(916.67)
(62.50)
52,850.33

$	20,930.27		$ 844,290.00		44.15%	
 $		20,930.27		 $ 844,290.00			

$	
2,258.35		
$	-			

(2,291.67)

$	2,258.35

$	(67,442.42)

$	3,410.00
7,500.00
50,000.00
96,000.00
5,500.00
1,000.00
60,000.00
4,250.00
5,000.00
250.00
500.00
250.00
500.00
250.00
25.00
500.00
12,250.00
3,420.00
175.00
100.00
380.00
4,400.00
2,200.00
1,350.00
579,580.00
5,500.00

$	-

$	-

72.73%
106.67%
41.67%
19.48%
0.00%
0.00%
16.60%
195.29%
0.00%
0.00%
0.00%
0.00%
11.13%
0.00%
0.00%
0.00%
41.78%
35.82%
100.00%
0.00%
0.00%
68.91%
0.00%
37.04%
0.00%
0.00%