Palm Glades	
Community Development District	

Unaudited Financial Reporting	
as of	
July 31, 2022	

Meeting Date	
Tuesday, September 13, 2022	

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
COMBINED BALANCE SHEET	
July 31, 2022	

	            Major Funds			Total	
	Debt	Capital	Governmental	
   General			Service			Projects			Funds		
$53,967	---	---	$53,967	
---	---	---	$0	
$0	---	---	$0	
$0	---	---	$0	
---	---	$74,188	$74,188	
$3,500	---	---	$3,500	
---	$2,074	---	$2,074	
---	$943	---	$943	

ASSETS:	
Cash	
Assessments Receivable	
Due from Capital	
Due from Developer	
Cash - Capital Reserve	
Due from Other	
Due From General Fund - S2016	
Due From General Fund - S2018	
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	
Acq. & Construction - Series 2018A1	
Series 2020	
Reserve	
Interest	
Revenue	
Series 2021	
Reserve	
Interest	
Revenue	
Acq. & Construction - Series 2021	
Electric Deposits	
TOTAL ASSETS	

$1,293,946	
---	

---	
$176,145	

$1,293,946	
$176,145	

---

---	
---	
---	

$33,363	
$320	
---	

$33,363	
$320	
$2,513	

---

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

$473,361	
$484,381	
$125	
$43	

---	
---	
---	

$473,361	
$484,381	
$125	
$43	

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

$130,784	
$248,071	
$78	
$26	

---	
---	
---	

$130,784	
$248,071	
$78	
$26	

---	
---	
---	

$287,006	
$1,251	
$511,138	

---	
---	
---	
---	
---	
---	
$2,513	

$287,006	
$1,251	
$511,138	

---	
---	
---	

$25,544	
$4	
$22,825	

---	
---	
---	

$25,544	
$4	
$22,825	

---	
---	
---	
---	
     $6,874 	
   $1,358,286 	

$3,081	
$1,641	
$21,555	
---	
        ---	
   $2,247,615 	

---	
---	
---	
$2	
       ---	
   $252,848 	

$3,081	
$1,641	
$21,555	
$2	
     $6,874 	
   $3,858,749 	

LIABILITIES:	
Accounts Payable	
Due to DS - Series 2016	
Due to DS - Series 2018	
Retainage Payable - Landscape	
TOTAL LIABILITIES	

$164,013	
$2,074	
$949	
     $4,009 	
    $171,046 	

---	
---	
---	
        ---		
       $0 	

---	
---	
---	
---		
      $0 	

$164,013	
$2,074	
$949	
$4,009 	
    $171,046 	

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

$6,874	
---	
---	
---	
   $1,180,366 	
   $1,187,240 	

---	
$2,247,615	
---	
---	
        ---		
   $2,247,615 	

---	
---	
$2,515	
$250,333	
---		
   $252,848 	

$6,874	
$2,247,615	
$2,515	
$250,333	
$1,180,366 	
   $3,687,703 	

TOTAL LIABILITIES & FUND BALANCES		$1,358,286 		$2,247,615 		$252,848  	$3,858,749 

ADOPTED	
BUDGET	

ACTUAL	
THRU 07/31/22	

 	

REVENUES:	
Maintenance Assessments - On Roll	
Maintenance Assessments - Direct	
Interest	
Access Cards	
Guess Passes	
Party Rental Fees	
Miscellaneous	
Key Card/Replacements	
Landscape Replacement Damage	
Resident Events	
Security Fees	

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

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

$2,549,529	
$42,348	
$6,607	
$1,400	
$500	
$6,750	
$227	
$1,470	
$27,000	
$92	
$445	
	$2,636,369 	

($35,532)	
$42,348	
$5,607	
$1,400	
$500	
$6,750	
$227	
$1,470	
$27,000	
$92	
$445	
	$50,308 	

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	

$9,600	
$734	
$10,000	
$2,400	
$2,500	
$40,000	
$5,400	
$20,500	
$2,000	
$43,353	
$3,000	
$100	
$1,000	
$2,900	
$2,400	
$7,154	
$2,600	
$1,050	
$260	
$175	
       $250 	
    $157,376 	

$6,000	$6,000	$0	
$459	$459	$0	
$8,333	$1,118	$7,216	
$2,000	$1,200	$800	
$2,083	$2,083	$0	
$33,333	$39,333	($5,999)	
$5,300	$5,300	$0	
$20,500	$20,500	$0	
$2,000	$2,000	$0	
$36,128	$36,128	$0	
$2,500	$2,500	$0	
$83	$0	$83	
$833	$536	$297	
$2,417	$2,099	$318	
$2,000	$2,000	$0	
$7,154	$6,731	$423	
$2,167	$1,841	$325	
$875	$864	$11	
$217	$161	$56	
$175	$175	$0	
       $208 			$0 			$208 	
    $134,766 			$131,027 			$3,738 	

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	

$191,000	
$79,560	
$62,000	
$39,000	
$43,870	
$15,000	
$39,000	
$22,800	
$15,000	
$28,000	
$14,704	
$20,000	
$4,200	

$161,064	
$63,648	
$68,701	
$39,000	
$36,558	
$15,000	
$32,500	
$19,000	
$12,500	
$23,333	
$12,253	
$16,667	
$3,500	

$161,064	
$63,648	
$68,701	
$36,214	
$30,750	
$13,429	
$63,599	
$19,000	
$26,026	
$23,941	
$12,683	
$29,053	
$0	

$0	
$0	
$0	
$2,787	
$5,808	
$1,571	
($31,099)	
$0	
($13,526)	
($608)	
($429)	
($12,387)	
$3,500	

ADOPTED	
BUDGET	

ACTUAL	
THRU 07/31/22	

$13,500	
$3,600	
$22,000	
$18,600	
$19,500	
$527,000	
$17,400	
$50,000	
$94,800	
    $275,000 	
   $1,615,534 	

$11,250	
$3,000	
$18,333	
$18,600	
$16,250	
$439,167	
$14,500	
$41,667	
$79,000	
     $175,000 	
    $1,320,491 	

$7,897	
$0	
$19,600	
$20,455	
$14,625	
$439,187	
$19,624	
$104,569	
$24,766	
    $175,000 	
   $1,373,830 	

$3,353	
$3,000	
($1,267)	
($1,855)	
$1,625	
($21)	
($5,124)	
($62,902)	
$54,234	
        $0 	
     ($53,339)	

Excess (deficiency) of revenues	
over (under) expenditures	

$534,357	
$652,884	
	$1,187,240 	

 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	

 	 	

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	
$9,000	
$6,350	
$3,500	
$45,000	
$3,300	
$11,000	
$6,731	
$38,259	
$5,000	
$52,000	
$5,200	
$30,540	
$26,176	
$226,875	
$5,000	
$11,000	
$8,400	
$45,000	
$32,500	
$2,400	
$500	
$50,000	
$20,000	
$66,670	
$700	
$6,500	
$8,000	
$4,000	
     $63,550 	
    $813,151 	

$4,167	
$4,167	
$8,333	
$7,500	
$5,292	
$2,917	
$37,500	
$2,750	
$9,167	
$5,609	
$38,259	
$4,167	
$43,333	
$4,333	
$25,450	
$21,813	
$189,063	
$4,167	
$9,167	
$7,000	
$37,500	
$27,083	
$2,000	
$417	
$41,667	
$16,667	
$55,558	
$583	
$5,417	
$6,667	
$3,333	
     $52,958 	
     $684,002 	

$1,356	
$5,317	
$0	
$3,181	
$5,205	
$2,700	
$34,407	
$3,934	
$13,000	
$2,853	
$37,714	
$3,260	
$43,800	
$0	
$19,600	
$2,160	
$169,831	
$0	
$13,604	
$7,839	
$28,774	
$6,451	
$0	
$465	
$57,858	
$35,010	
$76,265	
$516	
$0	
$4,404	
$0	
     $17,651 	
    $597,155 	

$2,811	
($1,151)	
$8,333	
$4,319	
$87	
$217	
$3,093	
($1,184)	
($3,833)	
$2,756	
$545	
$907	
($467)	
$4,333	
$5,850	
$19,653	
$19,231	
$4,167	
($4,438)	
($839)	
$8,726	
$20,633	
$2,000	
($48)	
($16,191)	
($18,343)	
($20,706)	
$67	
$5,417	
$2,262	
$3,333	
     $35,307 	
     $86,847 	

TOTAL EXPENDITURES		$2,586,061 		$2,139,259 		$2,102,012 		$37,247 

	($0)		$446,802		$534,357		$87,555	
Net change in fund balance	($0)		$446,802				$87,555	
FUND BALANCE - Beginning	$0							
FUND BALANCE - Ending		($0)							

 DESCRIPTION	 REVENUES:				
 THRU 07/31/22 		
 THRU 07/31/22 		
	VARIANCE		
TOTAL REVENUES			$275,250 			$175,188 			$175,754 			$566 	
EXPENDITURES:									
Bank Charges		$350		$0		$276		($276)	
TOTAL EXPENDITURES			$350 							($276)	
		
	$274,900 		
	$175,188 		
	$175,478 		
	$290 	
FUND BALANCE - Beginning		$249,842				$74,855			
FUND BALANCE - Ending			$524,742 					$250,333 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL RESERVE FUND	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

Capital Reserve Contribution	
Interest Income	

$275,000	
$250	

$175,000	
$188	

$175,000	
$754	

$0	
$566	

	$0 			$276 	

Excess (deficiency) of revenues	
over (under) expenditures	

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2016 Special Assessment Refunding Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

 			

ADOPTED	
BUDGET	

 DESCRIPTION		THRU 07/31/22	THRU 07/31/22	VARIANCE

REVENUES:	
Special Assessments	
Interest Income	

$899,599	
$0	

$899,599	
$0	

$901,923	
$1,512	

$2,324	
$1,512	

TOTAL REVENUES		$899,599 		$899,599 		$903,435 		$3,836  EXPENDITURES:

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

 	
$182,594	
$520,000	
$182,594	

	
$182,594	
$520,000	
$182,594	

	
$182,594	
$520,000	
$182,594	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$885,188 		$0 

	$885,188 			$885,188 	

Excess (deficiency) of revenues	
over (under) expenditures	

	$14,411 		$14,411 		$18,247 		$3,836 

FUND BALANCE - Beginning	$465,377	$941,737

FUND BALANCE - Ending		$479,788 		$959,985 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2017 Special Assessment Refunding Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

	$732,300 			$732,300 	

Excess (deficiency) of revenues	
over (under) expenditures	

REVENUES:	
Special Assessments	
Interest Income	

 	
$727,253	
$0	

	
$727,253	
$0	

	
$729,166	
$650	

	
$1,913	
$650	

TOTAL REVENUES		$727,253 		$727,253 		$729,816 		$2,564  EXPENDITURES:

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

 	
$206,150	
$206,150	
$320,000	

	
$206,150	
$206,150	
$320,000	

	
$206,150	
$206,150	
$320,000	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$732,300 							$0 	
	
($5,047)		
($5,047)		
($2,484)		
$2,564	

FUND BALANCE - Beginning	
$248,183				
$381,442			
FUND BALANCE - Ending		$243,136 					$378,958 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2018A1/A2 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

	$673,990 			$673,990 	

Excess (deficiency) of revenues	
over (under) expenditures	

REVENUES:	
Special Assessments - On Roll	
Special Assessments - Direct	
Interest Income	

 	
$682,112	
$0	
$0	

	
$682,112	
$0	
$0	

	
$683,889	
$11,554	
$1,224	

	
$1,777	
$11,554	
$1,224	

TOTAL REVENUES		$682,112 		$682,112 		$696,668 		$14,555  EXPENDITURES:

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

 	
$179,945	
$190,000	
$177,095	

	
$179,945	
$190,000	
$177,095	

	
$179,945	
$190,000	
$177,095	

	
$0	
$0	
$0	

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

$46,303	
$35,000	
$45,647	

$46,303	
$35,000	
$45,647	

$46,303	
$35,000	
$45,647	

$0	
$0	
$0	

TOTAL EXPENDITURES		$673,990 							$0 	
	
$8,122		
$8,122		
$22,678		
$14,555	

FUND BALANCE - Beginning	
$488,780				
$811,343			
FUND BALANCE - Ending		$496,902 					$834,021 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2020 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

	$47,863 			$47,863 	

REVENUES:	
Special Assessments	
Interest Income	

 	
$51,000	
$0	

	
$51,000	
$0	

	
$51,134	
$76	

	
$134	
$76	

TOTAL REVENUES		$51,000 		$51,000 		$51,210 		$210  EXPENDITURES:

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

 	
$16,431	
$15,000	
$16,431	

	
$16,431	
$15,000	
$16,431	

	
$16,431	
$15,000	
$16,431	

	
$0	
$0	
$0	

TOTAL EXPENDITURES		$47,862 							$0 	
Net change in fund balance	$3,138		$3,138		$3,348		$210	

FUND BALANCE - Beginning	
$19,331				
$45,026			
FUND BALANCE - Ending		$22,469 					$48,373 			

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
DEBT SERVICE FUND	
Series 2020 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

REVENUES:	
Direct Assessments - Lennar	
Interest Income	

 	
$11,797	
$0	

	
$11,797	
$0	

	
$30,769	
$25	

	
$18,972	
$25	

TOTAL REVENUES		$11,797 		$11,797 		$30,794 		$18,997  EXPENDITURES:

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

 	
$2,565	
$9,232	

	
$2,565	
$9,232	

	
$2,565	
$9,232	

	
$0	
$0	

TOTAL EXPENDITURES		$11,797 		$0 

	$11,797 			$11,797 	

Excess (deficiency) of revenues	
over (under) expenditures	

	$0 		$0 		$18,997 		$18,997 

OTHER FINANCING SOURCES/(USES)

Bond Proceeds	
Interfund In/(Out)	

$0	
$0	

$0	
$0	

$5,641	
$1,639	

$5,641	
$0	

TOTAL FINANCING SOURCES/(USES)		$0 		$5,641 

	$0 			$7,281 	

Net change in fund balance	$0	$0	$26,278	$24,639

FUND BALANCE - Beginning	$0	$0

FUND BALANCE - Ending		$0 		$26,278 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL PROJECTS FUND	
Series 2018A1/A2 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

REVENUES:	
Interest Income	

$0	$0	$4	$4

TOTAL REVENUES		$0 		$0 		$4 		$4  EXPENDITURES:

	$0 			$0 	

Capital Outlay	$0	$0	$0	$0

TOTAL EXPENDITURES		$0 		$0 

Excess (deficiency) of revenues	
over (under) expenditures	

$0	$0	$4	$4

FUND BALANCE - Beginning	$0	$2,510

FUND BALANCE - Ending		$0 		$2,513 

Palm Glades	
COMMUNITY DEVELOPMENT DISTRICT	
CAPITAL PROJECTS FUND	
Series 2018A1/A2 Special Assessment Bonds	
Statement of Revenues & Expenditures	
For the Period Ended July 31, 2022	

ADOPTED	
	BUDGET		

REVENUES:	
Interest Income	

$0	$0	$3	$3

TOTAL REVENUES		$0 		$0 		$3 		$3  EXPENDITURES:

Capital Outlay	
Cost of Issuance	

 	
$0	
$0	

	
$0	
$0	

	
$413,418	
$143,970	

	
($413,418)	
($143,970)	

TOTAL EXPENDITURES		$0 		($557,388)

	$0 			$557,388 	

Excess (deficiency) of revenues	
over (under) expenditures	

$0	$0	($557,386)	($557,386)

OTHER FINANCING SOURCES/(USES)

Bond Proceeds	
Bond Premium	
Interfund Transfer In/(Out)	

$0	
$0	
$0	

$0	
$0	
$0	

$544,359	
$14,668	
($1,639)	

$544,359	
$14,668	
($1,639)	

TOTAL FINANCING SOURCES/(USES)		$0 		$557,388 

	$0 			$557,388 	

Net change in fund balance	$0	$0	$2	$2

FUND BALANCE - Beginning	$0	$0

FUND BALANCE - Ending		$0 		$2 

Palm Glades	
Community Development District	

Check Register Summary	
07/01/2022 - 07/31/2022	

 Check Date		Check #'s		Total Amount 	

7/5/2022	3435-3462	$170,341.20	

7/19/2022	3463-3472	$37,523.07	

Total	$207,864.27

Attendance Sheet

District: Meeting Date:

	Palm Glades CDD	

	Tuesday, September 13, 2022	

Supervisor	In Attendance	Fees

1.	Mauricio Pelaez	
	Chairman	

$200

2.	George Monserrat	
	Vice Chair	

$200

3.	Julie Varela Medina	
	Assistant Secretary	

$200

4.	Zuzer Calero	
	Assistant Secretary	

$200

5.	Open Seat	
	Assistant Secretary	

$200

District Manager:		

PLEASE RETURN COMPLETED FORM TO ASHLEY COOPER