Magic Place CDD
October 2024 Financial Package

October 31, 2024

PFM Group Consulting LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

Magic Place CDD	
Statement of Financial Position	
As of 10/31/2024	

General Fund	Debt Service Fund

Capital Projects Fund

Long Term Debt Fund

Total

$	114,666.45	
314,429.29	
1,117,915.61	
8,980.06	
1,139,388.63	
62,514.52	
388,009.40	
18,696.57	
2.17	
202,363.06	
$	3,366,965.76	

Assets

$	114,666.45	
314,429.29	

$  1,117,915.61	
8,980.06	
1,139,388.63	
62,514.52	
388,009.40	
18,696.57	
2.17	

Current Assets	
General Checking Account	
Assessments Receivable	
Assessments Receivable	
Due From Other Funds	
Debt Service Reserve Series 2019	
Revenue Series 2019	
Interest Series 2019	
Prepayment Series 2019	
Sinking Fund Series 2019	
Acquisition/Construction Series 2019	
Total Current Assets	

Investments	
Amount Available in Debt Service Funds	
Amount To Be Provided	
Total Investments	

$	429,095.74

$	-

$  2,735,506.96

$	-

$	202,363.06

$	202,363.06	$	-

$	-

			 

$  1,608,611.29	$	1,608,611.29	
16,121,388.71	16,121,388.71	
$ 17,730,000.00	$ 17,730,000.00	

Total Assets

$	429,095.74

$  2,735,506.96

$	202,363.06

$ 17,730,000.00

$ 21,096,965.76

$	14,274.50	
8,980.06	
316,955.06	
1,126,895.67	
$	1,467,105.29	

Liabilities and Net Assets

$	14,274.50	
8,980.06	
316,955.06	

Current Liabilities	
Accounts Payable	
Due To Other Funds	
Deferred Revenue	
Deferred Revenue	
Total Current Liabilities	

Long Term Liabilities	
Revenue Bonds Payable - Long-Term	
Total Long Term Liabilities	

$	340,209.62

$	-

$  1,126,895.67

$  1,126,895.67	$	-	$	-

$	-	$	-

			 

$ 17,730,000.00		$ 17,730,000.00	
$ 17,730,000.00		$ 17,730,000.00	

Total Liabilities

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

$	340,209.62

$	(3,742.50)	
(1,505.00)	
7,803.67	
86,329.95	

$	88,886.12

$  1,126,895.67	$

$  1,158,877.86	
449,733.43	

$  1,608,611.29

-	$ 17,730,000.00

$ 19,197,105.29

		 

$	(3,742.50)	
(1,505.00)	
7,803.67	
86,329.95	
1,158,877.86	
449,733.43	
327,632.00	
331,481.06	
(456,750.00)	
$	-	$	1,899,860.47	

$	327,632.00	
331,481.06	
(456,750.00)	
$	202,363.06	

Total Liabilities and Net Assets

$	429,095.74

$  2,735,506.96

$	202,363.06

$ 17,730,000.00

$ 21,096,965.76

Magic Place CDD	
Statement of Activities	
As of 10/31/2024	

General Fund	Debt Service Fund

Capital Projects Fund

Long Term Debt Fund

Total

Revenues

Total Revenues

$	-	$

-	$	-	$	-	$	-

$	3,270.00	
2,750.00	
7,500.00	
201.12	
110.00	
175.00	
3,996.00	
4,464.00	
$	22,466.12	

Expenses

$	3,270.00	
2,750.00	
7,500.00	
201.12	
110.00	
175.00	
3,996.00	

Public Officials' Liability Insurance	
Management	
Assessment Administration	
Legal Advertising	
Web Site Maintenance	
Dues, Licenses, and Fees	
General Insurance	
Capital Expenditures	
Total Expenses	

$	18,002.12	$

$	4,464.00

-	$	4,464.00	$	-

$	412.09	
6,623.88	
956.03	
$	7,992.00	

Other Revenues (Expenses) & Gains (Losses)

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

$	412.09
$

$	412.09	$

6,623.88
$
6,623.88	$

956.03

956.03	$	-

Change In Net Assets

$	(17,590.03)	$

6,623.88

$	(3,507.97)	$

-	$	(14,474.12)

Net Assets At Beginning Of Period

$	106,476.15

$  1,601,987.41

$	205,871.03	$

-	$ 1,914,334.59

				

Net Assets At End Of Period

$	88,886.12

$  1,608,611.29

$	202,363.06	$

-	$ 1,899,860.47

Magic Place CDD	
Budget to Actual	
For the month ending 10/31/2024	

YTD Actual	YTD Budget	YTD Variance

FY 2025
Adopted Budget

Percentage Spent

Revenues	
On-Roll Assessment	
Net Revenues	

	
$	-		$	26,412.92	$	(26,412.92)	$	316,955.00			
$	-		$	26,412.92	$	(26,412.92)	$	316,955.00		0.00%	

General & Administrative Expenses	
Trustee Services	
Management	
Engineering	
Disclosure Agent	
District Counsel	
Property Appraiser	
Assessment Administration	
Re-Amortization Schedule	
Audit	
Legal Advertising	
Miscellaneous	
Arbitrage	
Web Site Maintenance	
Dues, Licenses, and Fees	
Public Officials' Liability Insurance	
General Liability Insurance	
Irrigation	
Lake Maintenance	
Landscaping Maintenance and Material	
Streetlights	
Contingency	
Total General & Administrative Expenses	

$	-	$	500.00	$	(500.00)	$	6,000.00		0.00%	
2,750.00	2,750.00	-	33,000.00		8.33%	
-	833.33	(833.33)	10,000.00		0.00%	
-	416.67	(416.67)	5,000.00		0.00%	
-	1,666.67	(1,666.67)	20,000.00		0.00%	
-	33.33	(33.33)	400.00		0.00%	
7,500.00	625.00	6,875.00	7,500.00		100.00%	
-	20.83	(20.83)	250.00		0.00%	
-	291.67	(291.67)	3,500.00		0.00%	
201.12	166.67	34.45	2,000.00		10.06%	
-	20.83	(20.83)	250.00		0.00%	
-	41.67	(41.67)	500.00		0.00%	
110.00	215.00	(105.00)	2,580.00		4.26%	
175.00	14.58	160.42	175.00		100.00%	
3,270.00	289.58	2,980.42	3,475.00		94.10%	
3,996.00	352.08	3,643.92	4,225.00		94.58%	
-	5,833.33	(5,833.33)	70,000.00		0.00%	
-	1,000.00	(1,000.00)	12,000.00		0.00%	
-	8,333.33	(8,333.33)	100,000.00		0.00%	
-	2,500.00	(2,500.00)	30,000.00		0.00%	
-	508.33	(508.33)	6,100.00		0.00%	
$	18,002.12	$	26,412.92	$	(8,410.80)	$	316,955.00		5.68%	

Other Income (Expense)		
Interest Income	$	412.09	$	-	
Total Other Income (Expense)	$	412.09	$	-	

Total Expenses	$	18,002.12	$	26,412.92	$	(8,410.80)	$	316,955.00

Income (Loss) from Operations	$	(18,002.12)	$	-	$	(18,002.12)	$	-

$	412.09		$	-	
$	412.09		$	-	

Net Income (Loss)	$	(17,590.03)	$	-	$	(17,590.03)	$	-