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

General Fund	Debt Service Fund

Capital Projects Fund

Long Term Debt Group

Total

$	104,699.42	
426,612.98	
2,995.00	
333,102.22	
2,199.31	
343,825.00	
386,493.28	
5,580.62	
$ 1,605,507.83	

Assets

$	104,699.42	
426,612.98	
2,995.00	

$	333,102.22	
2,199.31	
343,825.00	
386,493.28	

Current Assets	
General Checking Account	
Assessments Receivable	
Deposits	
Assessments Receivable	
Due From Other Funds	
Debt Service Reserve Series 2016	
Revenue Series 2016	
Acquisition/Construction Series 2016	
Total Current Assets	

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

$	534,307.40

$	-

$

$  1,065,619.81	$

$	-	$

5,580.62

5,580.62	$	-

-

    

$	730,318.28	$	730,318.28	
3,894,681.72	3,894,681.72	
$ 4,625,000.00	$ 4,625,000.00	

Total Assets

$	534,307.40

$  1,065,619.81	$

5,580.62

$ 4,625,000.00

$ 6,230,507.83

Liabilities and Net Assets

$	111,251.32	
2,199.31	
429,429.70	

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

$	542,880.33

$	335,301.53

$	335,301.53	$

$	111,251.32	
2,199.31	
429,429.70	
335,301.53	
$	878,181.86	

-	$	-

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

$	-	$

-	$	-

$ 4,625,000.00
$ 4,625,000.00

$ 4,625,000.00

$ 4,625,000.00

    

Total Liabilities

$	542,880.33

$	335,301.53	$

-	$ 4,625,000.00

$ 5,503,181.86

    

$	(10,190.29)	
123,093.30	
(121,475.94)	

$	692,300.58	
38,017.70	

$	(8,572.93)

    

Net Assets	
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	

$	(10,190.29)	
123,093.30	
(121,475.94)	
692,300.58	
38,017.70	
200,495.53	
285.09	
(195,200.00)	
$	-	$	727,325.97	

$	200,495.53	
285.09	
(195,200.00)	
$	730,318.28	$	5,580.62	

Total Liabilities and Net Assets

$	534,307.40

$  1,065,619.81	$

5,580.62

$ 4,625,000.00

$ 6,230,507.83

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

General Fund	Debt Service Fund

Capital Projects Fund

Long Term Debt Group

Total

Revenues

Total Revenues

$	-	$

-	$	-	$

-	$	-

Public Officials Insurance	
Trustee Services	
Management	
Assessment Administration	
Legal Advertising	
Web Site Maintenance	
Dues, Licenses, and Fees	
Property & Casualty	
Lake Maintenance	
Total Expenses	

$	3,270.00	
336.72	
2,916.67	
5,000.00	
204.23	
110.00	
175.00	
3,996.00	
115.00	
$	16,123.62	

$	3,270.00	
336.72	
2,916.67	
5,000.00	
204.23	
110.00	
175.00	
3,996.00	
115.00	
$	16,123.62	

Expenses

$	-	$	-	$	-

$	399.53	
3,007.28	
22.98	
$	3,429.79	

Other Revenues (Expenses) & Gains (Losses)

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

$	399.53

$	399.53

$	3,007.28
$

$	3,007.28	$

22.98

22.98	$	-

Change In Net Assets

$	(15,724.09)	$

3,007.28	$

22.98	$

-	$ (12,693.83)

Net Assets At Beginning Of Period

$	7,151.16

$	727,311.00	$

5,557.64	$

-	$ 740,019.80

				

Net Assets At End Of Period

$	(8,572.93)

$	730,318.28	$

5,580.62	$

-	$ 727,325.97

				

Magic Reserve Community Development District	
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 Assessments	
Interest Income	
Net Revenues	

	
$	-		$	35,785.83	
399.53		-	
$	399.53		$	35,785.83	

	
$	(35,785.83)		$	429,430.00		0.00%	
399.53		-			
$	(35,386.30)		$	429,430.00		0.09%	

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

$	336.72		$	341.67	
2,916.67		2,916.67	
-		833.33	
-		416.67	
-		27.08	
-		1,500.00	
5,000.00		416.67	
-		20.83	
-		41.67	
-		291.67	
204.23		166.67	
-		100.00	
110.00		215.00	
175.00		14.58	
-		8,333.33	
3,270.00		291.67	
3,996.00		358.33	
115.00		333.33	
-		10,000.00	
-		2,500.00	
-		6,666.67	
$	16,123.62		$	35,785.83	

$	(4.95)		$	4,100.00		8.21%	
0.00		35,000.00		8.33%	
(833.33)		10,000.00		0.00%	
(416.67)		5,000.00		0.00%	
(27.08)		325.00		0.00%	
(1,500.00)		18,000.00		0.00%	
4,583.33		5,000.00		100.00%	
(20.83)		250.00		0.00%	
(41.67)		500.00		0.00%	
(291.67)		3,500.00		0.00%	
37.56		2,000.00		10.21%	
(100.00)		1,200.00		0.00%	
(105.00)		2,580.00		4.26%	
160.42		175.00		100.00%	
(8,333.33)		100,000.00		0.00%	
2,978.33		3,500.00		93.43%	
3,637.67		4,300.00		92.93%	
(218.33)		4,000.00		2.88%	
(10,000.00)		120,000.00		0.00%	
(2,500.00)		30,000.00		0.00%	
(6,666.67)		80,000.00		0.00%	
$	(19,662.21)		$	429,430.00		3.75%	

Total Expenses	$	16,123.62	$	35,785.83	$	(19,662.21)	$	429,430.00	3.75%

Net Income (Loss)	$	(15,724.09)	$	-	$	(15,724.09)	$	-