Palm Glades	
Community Development District	

Unaudited Financial Reporting	
as of	
November 30, 2022	

Meeting Date	
Tuesday, January 10, 2023	

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
COMBINED BALANCE SHEET	
November 30, 2022	

	            Major Funds			Total	
	Debt	Capital	Governmental	
   General			Service			Projects			Funds		
$344,678	---	---	$344,678	
---	---	$41,661	$41,661	
---	$58,043	---	$58,043	
---	$46,484	---	$46,484	
---	$43,832	---	$43,832	
---	$3,260	---	$3,260	
---	$1,967	---	$1,967	

ASSETS:	
Cash	
Cash - Capital Reserve	
Due From General Fund - S2016	
Due From General Fund - S2017A	
Due From General Fund - S2018	
Due From General Fund - S2020	
Due From General Fund - S2021	
Investments:	
State Board	
State Board - Capital Reserves	
Series 2016	
Reserve	
Revenue	
Interest	
Principal	
Series 2017	
Reserve	
Revenue	
Interest	
Sinking	
Series 2018A1	
Reserve	
Interest	
Revenue	
Series 2018A2	
Reserve	
Interest	
Principal	
Acq. & Construction - Series 2018A1	
Series 2020	
Reserve	
Interest	
Revenue	
Series 2021	
Reserve	
Interest	
Revenue	
Acq. & Construction - Series 2021	
Electric Deposits	
TOTAL ASSETS	

$441,759	
---	

---	
$278,267	

$441,759	
$278,267	

---

---	
---	
---	
---	

$33,600	
$16	
$61	
---	

$33,600	
$16	
$61	
$2,531	

---

---	
---	
---	
---	

$476,729	
$313,873	
$56	
$44	

---	
---	
---	

$476,729	
$313,873	
$56	
$44	

---	
---	
---	
---	

$131,715	
$50,097	
$63	
$26	

---	
---	
---	

$131,715	
$50,097	
$63	
$26	

---	
---	
---	

$289,049	
$61	
$64,423	

---	
---	
---	
---	
---	
---	
---	
$2,531	

$289,049	
$61	
$64,423	

---	
---	
---	

$25,726	
$5	
$6,798	

---	
---	
---	

$25,726	
$5	
$6,798	

---	
---	
---	
---	
     $6,874 	
    $793,311 	

$3,103	
$1,653	
$21,709	
---	
        ---	
   $1,572,392 	

---	
---	
---	
$2	
       ---	
   $322,461 	

$3,103	
$1,653	
$21,709	
$2	
     $6,874 	
   $2,688,165 	

LIABILITIES:	
Accounts Payable	
Due to DS - Series 2016	
Due to DS - Series 2017A	
Due to DS - Series 2018	
Due to DS - Series 2020	
Due to DS - Series 2021	
Retainage Payable - Landscape	
TOTAL LIABILITIES	

$160,084	
$58,043	
$46,484	
$43,832	
$3,260	
$1,967	
       $0 	
    $313,670 	

---	
---	
---	
---	
---	

---	
---	
---	
---	
---	

FUND BALANCES:	
Nonspendable	
Restricted for Debt Service	
Restricted for Capital Projects	
Restricted for Capital Reserves	
Unassigned	
TOTAL FUND BALANCES	

$6,874	
---	
---	
---	
    $472,768 	
    $479,641 	

---	
$1,572,392	
---	
---	
        ---		
   $1,572,392 	

---	
---	
$2,533	
$319,928	
---		
   $322,461 	

$6,874	
$1,572,392	
$2,533	
$319,928	
$472,768 	
   $2,374,495 	

$160,084	
$58,043	
$46,484	
$43,832	
$3,260	
$1,967	
$0 	
    $313,670 	

        ---		
       $0 	

---		
      $0 	

TOTAL LIABILITIES & FUND BALANCES		$793,311 		$1,572,392 		$322,461  	$2,688,165 

 		

ADOPTED	
BUDGET	

PRORATED BUDGET	ACTUAL	
THRU 11/30/22	THRU 11/30/22	

$2,585,061	
$1,000	
$0	
$0	
$0	
$0	
$0	
	$2,586,061 	

$166,055	
$1,000	
$0	
$0	
$0	
$0	
$0	
	$167,055 	

$166,055	
$3,545	
$280	
$130	
$5,768	
$130	
$5	
	$175,912 	

$0	
$2,545	
$280	
$130	
$5,768	
$130	
$5	
	$8,857 	

 DESCRIPTION		VARIANCE

REVENUES:	
Maintenance Assessments - On Roll	
Interest	
Access Cards	
Guess Passes	
Non-Residential Memberships	
Key Card/Replacements	
Resident Events	

TOTAL REVENUES

EXPENDITURES:

ADMINISTRATIVE:	
Supervisor Fees	
FICA Expense	
Engineering Fees	
Arbitrage Rebate	
Dissemination Agent	
Attorney Fees	
Annual Audit	
Trustee fees	
Assessment Roll	
Management Fees	
Website Fees	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
Insurance General Liability	
Legal Advertising	
Other Current Charges	
Office Supplies	
Dues, Licenses, Subscriptions	
Capital Outlay	
TOTAL ADMINISTRATIVE	

$12,000	
$918	
$10,000	
$2,400	
$2,500	
$40,000	
$5,400	
$24,000	
$2,000	
$45,521	
$3,000	
$100	
$1,000	
$2,900	
$2,400	
$7,404	
$2,600	
$1,050	
$260	
$175	
       $250 	
    $165,878 	

$2,000	$1,400	$600	
$153	$107	$46	
$1,667	$0	$1,667	
$400	$0	$400	
$417	$417	$0	
$6,667	$8,195	($1,528)	
$900	$0	$900	
$7,500	$7,500	$0	
$2,000	$2,000	$0	
$7,587	$7,587	($0)	
$500	$500	$0	
$17	$0	$17	
$167	$164	$3	
$483	$325	$158	
$400	$400	$0	
$7,404	$9,801	($2,397)	
$433	$0	$433	
$175	$126	$49	
$43	$37	$6	
$175	$175	$0	
       $42 			$0 			$42 	
     $39,129 			$38,734 			$395 	

Field	
Landscape Maintenance	
Porter Service	
Mulch	
Tree Trimming & Palm Pruning	
Landscape Fertilization and Pest Control	
Annuals	
Plants Replacement	
Irrigation System	
Irrigation Repairs	
Electricity	
Refuse	
Entrance Maintenance & Repairs	
Janitorial Supplies	

$200,435	
$79,560	
$65,050	
$39,000	
$43,870	
$15,000	
$39,000	
$23,940	
$15,000	
$28,000	
$15,604	
$20,000	
$4,200	

$33,406	
$13,260	
$35,662	
$32,424	
$7,312	
$2,500	
$6,500	
$3,990	
$2,500	
$4,667	
$2,601	
$3,333	
$700	

$31,815	
$13,923	
$35,662	
$32,424	
$6,150	
$4,700	
$12,755	
$3,800	
$8,690	
$4,565	
$2,600	
$0	
$0	

$1,591	
($663)	
($0)	
$1	
$1,162	
($2,200)	
($6,255)	
$190	
($6,190)	
$101	
$1	
$3,333	
$700	

Excess (deficiency) of revenues	
over (under) expenditures	

($271,076)	
$750,717	
	$479,641 	

 		

ADOPTED	
BUDGET	

PRORATED BUDGET	ACTUAL	
THRU 11/30/22	THRU 11/30/22	

 DESCRIPTION		
EXPENDITURES: (continued)	
Field (continued)	
Lake Maintenance	
Lake Debris Removal	
Cleaning of Drainage System	
Pressure Cleaning - Sidewalk	
Field Management	
Security Services	
Holiday Decorations	
Sidewalk Repairs	
Contingency	
Capital Reserves	
TOTAL FIELD	

VARIANCE

$13,500	
$3,600	
$22,000	
$18,600	
$20,475	
$542,810	
$17,400	
$50,000	
$55,238	
    $275,000 	
   $1,607,282 	

$2,250	
$600	
$3,667	
$3,100	
$3,413	
$90,468	
$2,900	
$8,333	
$9,206	
     $45,833 	
     $318,625 	

$1,570	
$0	
$0	
$0	
$3,413	
$82,702	
$0	
$8,600	
$4,016	
        $0 	
    $257,384 	

$680	
$600	
$3,667	
$3,100	
$0	
$7,767	
$2,900	
($267)	
$5,190	
     $45,833 	
     $61,241 	

Clubhouse	
Access Control (cards, systems, cameras maint.)	
Air Conditioning Maintenance	
Basketball Court Repairs and Maintenance	
Cable & Internet Service	
Circuit Training Equipment Maintenance	
Sauna Equipment Maintenance	
Electricity	
Fire Alarm & Building Alarm Monitoring	
Gazebo and Trellis Repairs and Maintenance	
Holiday Decorations	
Insurance	
Irrigation Repairs and Maintenance	
Janitorial	
Janitorial Supplies	
Landscape Maintenance	
Landscape Replacement (Includes Mulching)	
Management Fees	
Office Equipment Maintenance	
Office Supplies/Clubhouse Supplies	
Pest Control-Interior & Exterior	
Pool, Spa and Waterpark Maintenance	
Pool, Spa and Waterpark Repairs	
Printing & Postage	
Property Taxes	
Repairs/Maintenance & Supplies (General)	
Residential Social Expenses	
Security	
Telephone	
Trash Collection/Recycling	
Water & Sewer	
Window Cleaning/Pressure Cleaning	
Contingency	
TOTAL CLUBHOUSE	

$5,000	
$5,000	
$10,000	
$5,000	
$6,350	
$3,500	
$45,000	
$7,300	
$11,000	
$6,731	
$41,485	
$5,000	
$57,604	
$5,200	
$30,540	
$26,176	
$232,000	
$9,000	
$7,000	
$9,200	
$45,000	
$32,500	
$2,400	
$500	
$50,000	
$30,000	
$66,670	
$700	
$6,500	
$8,000	
$4,000	
     $38,545 	
    $812,901 	

$833	
$833	
$1,667	
$833	
$1,058	
$583	
$7,500	
$1,217	
$1,833	
$1,122	
$40,560	
$833	
$9,601	
$867	
$5,090	
$4,363	
$38,667	
$1,500	
$1,167	
$1,533	
$7,500	
$5,417	
$400	
$83	
$8,333	
$5,000	
$11,112	
$117	
$1,083	
$1,333	
$667	
      $6,424 	
     $169,129 	

$0	
$1,200	
$0	
$698	
$1,681	
$0	
$7,440	
$2,117	
$0	
$0	
$40,560	
$660	
$9,600	
$0	
$3,920	
$0	
$38,756	
$0	
$4,214	
$1,512	
$5,700	
$0	
$0	
$489	
$4,349	
$6,988	
$10,283	
$104	
$0	
$0	
$0	
     $10,600 	
    $150,871 	

$833	
($367)	
$1,667	
$135	
($623)	
$583	
$60	
($900)	
$1,833	
$1,122	
$0	
$173	
$1	
$867	
$1,170	
$4,363	
($90)	
$1,500	
($3,047)	
$21	
$1,800	
$5,417	
$400	
($405)	
$3,985	
($1,988)	
$829	
$13	
$1,083	
$1,333	
$667	
     ($4,176)	
     $18,258 	

TOTAL EXPENDITURES		$2,586,061 		$526,883 		$446,988 		$79,895 

	$0		($359,828)		($271,076)		$88,752	
Net change in fund balance	$0		($359,828)				$88,752	
FUND BALANCE - Beginning	$0							
FUND BALANCE - Ending		$0 							

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL RESERVE FUND	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

 			

ADOPTED	
	BUDGET		

 DESCRIPTION		 THRU 11/30/22 	 THRU 11/30/22 		VARIANCE	

REVENUES:

Capital Reserve Contribution	
Interest Income	

$275,000	
$250	

$0	
$250	

$0	
$1,405	

$0	
$1,155	

TOTAL REVENUES		$275,250 		$250 		$1,405 		$1,155  EXPENDITURES:

Capital Outlay	
Bank Charges	

 	
$0	
$350	

	
$0	
$58	

	
$32,492	
$20	

	
($32,492)	
$38	

TOTAL EXPENDITURES		$350 		($32,454)

	$58 			$32,512 	

Excess (deficiency) of revenues	
over (under) expenditures	

	$274,900 		$192 		($31,108)		($31,299)

FUND BALANCE - Beginning	$0	$351,036

FUND BALANCE - Ending		$274,900 		$319,928 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2016 Special Assessment Refunding Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

 			

ADOPTED	
BUDGET	

 DESCRIPTION		THRU 11/30/22	THRU 11/30/22	VARIANCE

REVENUES:	
Special Assessments	
Interest Income	

$899,599	
$0	

$58,043	
$0	

$58,043	
$4,075	

$0	
$4,075	

TOTAL REVENUES		$899,599 		$58,043 		$62,118 		$4,075  EXPENDITURES:

Interest Expense - 11/1	
Principal Expense - 5/1	
Interest Expense - 5/1	

 	
$176,094	
$530,000	
$173,094	

	
$176,094	
$0	
$0	

	
$176,094	
$0	
$0	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$879,188 		$0 

	$176,094 			$176,094 	

Excess (deficiency) of revenues	
over (under) expenditures	

	$20,411 		($118,051)		($113,976)		$4,075 

FUND BALANCE - Beginning	$0	$962,720

FUND BALANCE - Ending		$20,411 		$848,745 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2017 Special Assessment Refunding Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

	$199,750 			$199,750 	

Excess (deficiency) of revenues	
over (under) expenditures	

REVENUES:	
Special Assessments	
Interest Income	

 	
$727,253	
$0	

	
$46,484	
$0	

	
$46,484	
$1,609	

	
$0	
$1,609	

TOTAL REVENUES		$727,253 		$46,484 		$48,093 		$1,609  EXPENDITURES:

Interest Expense - 11/1	
Interest Expense - 5/1	
Principal Expense - 5/1	

 	
$199,750	
$199,750	
$330,000	

	
$199,750	
$0	
$0	

	
$199,750	
$0	
$0	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$729,500 							$0 	
	
($2,247)		
($153,266)		
($151,657)		
$1,609	

FUND BALANCE - Beginning	
$2,247				
$380,041			
FUND BALANCE - Ending		$0					$228,384 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2018A1/A2 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

	$452,742 			$452,742 	

Excess (deficiency) of revenues	
over (under) expenditures	

REVENUES:	
Special Assessments - On Roll	
Interest Income	

 	
$682,112	
$0	

	
$43,832	
$0	

	
$43,832	
$3,541	

	
$0	
$3,541	

TOTAL REVENUES		$682,112 		$43,832 		$47,373 		$3,541  EXPENDITURES:

Series 2018A1	
Interest Expense - 11/1	
Principal Expense - 11/1	
Interest Expense - 5/1	

 	
$177,095	
$195,000	
$174,170	

	
$177,095	
$195,000	
$0	

	
$177,095	
$195,000	
$0	

	
$0	
$0	
$0	

Series 2018A2	
Interest Expense - 11/1	
Principal Expense - 11/1	
Interest Expense - 5/1	

$45,647	
$35,000	
$44,991	

$45,647	
$35,000	
$0	

$45,647	
$35,000	
$0	

$0	
$0	
$0	

TOTAL EXPENDITURES		$671,903 							$0 	
	
$10,210		
($408,910)		
($405,369)		
$3,541	

FUND BALANCE - Beginning	
$0				
$836,411			
FUND BALANCE - Ending		$10,210 					$431,041 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2020 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

	$16,188 			$16,188 	

REVENUES:	
Special Assessments	
Interest Income	

 	
$51,000	
$0	

	
$3,260	
$0	

	
$3,260	
$205	

	
$0	
$205	

TOTAL REVENUES		$51,000 		$3,260 		$3,465 		$205  EXPENDITURES:

Series 2020	
Interest Expense - 11/1	
Principal Expense - 5/1	
Interest Expense - 5/1	

 	
$16,188	
$15,000	
$16,188	

	
$16,188	
$0	
$0	

	
$16,188	
$0	
$0	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$47,375 							$0 	
Net change in fund balance	$3,625		($12,928)		($12,722)		$205	

FUND BALANCE - Beginning	
$0				
$48,512			
FUND BALANCE - Ending		$3,625 					$35,790 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2020 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

Series 2020	
Interest Expense - 12/15	
Principal Expense - 12/15	
Interest Expense - 6/1	

$9,232	
$12,000	
$9,100	

$0	
$0	
$0	

$0	
$0	
$0	

	$0 			$0 	

Excess (deficiency) of revenues	
over (under) expenditures	

REVENUES:	
Special Assessments	
Interest Income	

 	
$30,769	
$0	

	
$1,967	
$0	

	
$1,967	
$112	

	
$0	
$112	

TOTAL REVENUES

EXPENDITURES:		$30,769 			$1,967 			$2,078 			$112 	
							
$0	
							$0	
TOTAL EXPENDITURES		$30,333 							$0 	
	
	$437 		
	$1,967 		
	$2,078 		
	$112 	

Net change in fund balance	
$437		
$1,967		
$2,078		
$112	

FUND BALANCE - Beginning	
$0				
$26,354			
FUND BALANCE - Ending		$437 					$28,432 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL PROJECTS FUND	
Series 2018A1/A2 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

REVENUES:	
Interest Income	

$0	$0	$11	$11

TOTAL REVENUES		$0 		$0 		$11 		$11  EXPENDITURES:

	$0 			$0 	

Capital Outlay	$0	$0	$0	$0

TOTAL EXPENDITURES		$0 		$0 

Excess (deficiency) of revenues	
over (under) expenditures	

$0	$0	$11	$11

FUND BALANCE - Beginning	$0	$2,520

FUND BALANCE - Ending		$0 		$2,531 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL PROJECTS FUND	
Series 2021 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended November 30, 2022	

ADOPTED	
	BUDGET		

REVENUES:	
Interest Income	

$0	$0	$0	$0

TOTAL REVENUES		$0 		$0 		$0 		$0  EXPENDITURES:

Capital Outlay	
Cost of Issuance	

 	
$0	
$0	

	
$0	
$0	

	
$0	
$0	

	
$0	
$0	

TOTAL EXPENDITURES		$0 		$0 

	$0 			$0 	

Excess (deficiency) of revenues	
over (under) expenditures	

$0	$0	$0	$0

Net change in fund balance	$0	$0	$0	$0

FUND BALANCE - Beginning	$0	$2

FUND BALANCE - Ending		$0 		$2 

Palm Glades	
Community Development District	

Check Register Summary	
11/01/2022 - 11/30/2022	

 Check Date		Check #'s		Total Amount 	

11/3/2022	3602-3615	$48,020.42	

11/10/2022	3616-3618	$16,715.96	

11/18/2022	3619	$2,152.73	

11/21/2022	3620-3627	$82,553.10	

Total	$149,442.21