BIG CYPRESS STEWARDSHIP DISTRICT
May 2026 Financial Report

May 31, 2026

PFM Management Services LLC
3501 Quadrangle Blvd.,
Suite 270
Orlando, Florida 32817
Tel: 407-723-5900

Big Cypress Stewardship District
Statement of Financial Position As of 5/31/2026

Debt Service	Capital Project	Long Term Debt	
Fund Area 1	Fund Area 1	Group	

General Fund	Total

	Assets		
Current Assets			
General Checking Account	$	2,292.81						$	2,292.81	
Accounts Receivable - Due from Developer	4,709.07						4,709.07	
Assessments Receivable		$  421,558.75					421,558.75	
Debt Service Reserve - S2026 Bond Area 1		539,446.88					539,446.88	
Revenue Account - S2026 Bond Area 1		4,523.62					4,523.62	
Acq and Const - S2026 Bond Area 1	
			$	5,235,500.40			5,235,500.40	
Total Current Assets	$	7,001.88	$  965,529.25		$	5,235,500.40		$	-	$  6,208,031.53	

Investments
Amount Available in Debt Service Funds		$	543,970.50		$	543,970.50	
Amount To Be Provided	
		14,916,029.50		14,916,029.50	
Total Investments	$	-	$	-	$	-	$ 15,460,000.00		$ 15,460,000.00	

Total Assets	$	7,001.88	$  965,529.25	$	5,235,500.40	$ 15,460,000.00	$ 21,668,031.53

Liabilities and Net Assets

Current Liabilities		
Accounts Payable	$	4,709.07							$	4,709.07	
Deferred Revenue	4,709.07							4,709.07	
Deferred Revenue			$  421,558.75					421,558.75	
Retainage Payable					$	254,952.45			254,952.45	
Total Current Liabilities	$	9,418.14		$  421,558.75		$	254,952.45		$	-	$	685,929.34	

Long Term Liabilities
Revenue Bonds Payable - Long-Term	
		$ 15,460,000.00		$ 15,460,000.00	
Total Long Term Liabilities	$	-	$	-	$	-	$ 15,460,000.00		$ 15,460,000.00	
Total Liabilities	$	9,418.14		$  421,558.75		$	254,952.45		$ 15,460,000.00		$ 16,145,929.34	

Net Assets
Net Assets, Unrestricted	

$	239.76								

$	239.76	
Net Assets - General Government	1,423.97								1,423.97	
Current Year Net Assets - General Government	(4,079.99)								(4,079.99)	
Current Year Net Assets, Unrestricted			$  543,970.50						543,970.50	
Net Assets, Unrestricted					$	(1,849.00)				(1,849.00)	
Current Year Net Assets, Unrestricted					4,982,396.95				4,982,396.95	
Total Net Assets	$	(2,416.26)		$  543,970.50		$	4,980,547.95		$	-		$  5,522,102.19	
										
Total Liabilities and Net Assets	$	7,001.88		$  965,529.25		$	5,235,500.40		$ 15,460,000.00		$ 21,668,031.53	

Big Cypress Stewardship District
Statement of Activities As of 5/31/2026

General	Debt Service	Capital Project	Long Term	
Fund	Fund Area 1	Fund Area 1	Debt Group	

Total

Revenues

Interest Income	$	88.98						$	88.98	
Developer Contributions	67,276.44						67,276.44	
Off-Roll Assessments			$	170,965.49				170,965.49	
Inter-Fund Group Transfers In			612.45				612.45	
Debt Proceeds			937,903.08				937,903.08	
Developer Contributions					$	4,032.50		4,032.50	
Inter-Fund Transfers In					(612.45)		(612.45)	
Debt Proceeds					14,522,096.92		14,522,096.92	
Total Revenues	$ 67,365.42		$ 1,109,481.02		$ 14,525,516.97		 
$	-	$ 15,702,363.41	

Expenses

Supervisor Fees	$	200.00						$	200.00	
Public Officials Insurance	4,012.00						4,012.00	
Management	36,666.64						36,666.64	
District Counsel	17,253.44						17,253.44	
Audit	3,200.00						3,200.00	
Tax Preparation	8.40						8.40	
Travel and Per Diem	616.01						616.01	
Postage & Shipping	155.26						155.26	
Legal Advertising	3,677.66						3,677.66	
Web Site Maintenance	1,475.00						1,475.00	
Dues, Licenses, and Fees	175.00						175.00	
General Insurance	3,506.00						3,506.00	
Other Insurance - Crime, etc.	500.00						500.00	
Interest Payments - A1 bond			$	170,965.49				170,965.49	
Underwriter's Discount			309,200.00				309,200.00	
Net Original Issue Discount			89,256.20				89,256.20	
Trustee Services					$	6,750.00		6,750.00	
Management					10,000.00		10,000.00	
Engineering					196,040.62		196,040.62	
Disclosure Agent					1,500.00		1,500.00	
District Counsel					68,828.00		68,828.00	
Trustee Counsel					6,500.00		6,500.00	
Bond Counsel					68,250.00		68,250.00	
Underwriter Counsel					35,000.00		35,000.00	
Assessment Administration					25,500.00		25,500.00	
Financial advisor					20,000.00		20,000.00	
Contractual Services					185,144.55		185,144.55	
Printing					2,500.00		2,500.00	
Building Permits					550.50		550.50	
Refund to Developer					142,351.90		142,351.90	
Capital Expenditures					4,898,233.72		4,898,233.72	
Material and Suppplies					3,946,241.71		3,946,241.71	
Total Expenses	$ 71,445.41		$	569,421.69		$  9,613,391.00		 
$	-	$ 10,254,258.10	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	3,911.17				$	3,911.17	
Interest Income	
			$	70,270.98		70,270.98	
Total Other Revenues (Expenses) & Gains (Losses)	$	-	$	3,911.17		$	70,270.98		$	-	$	74,182.15	

Change In Net Assets	
$	
(4,079.99)		
$	
543,970.50		
$	
4,982,396.95		
$	
-		
$	
5,522,287.46	

Net Assets At Beginning Of Year	
$	
1,663.73		
$	
-		
$	
(1,849.00)		
$	
-		
$	
(185.27)	

Net Assets At End Of Year	

$	

(2,416.26)		

$	

543,970.50		

$	

4,980,547.95		

$	

-		

$	

5,522,102.19	

Big Cypress Stewardship District
Budget to Actual
For the Month Ending 05/31/2026

	YTD Actual		YTD Budget		YTD Variance		FY 2026
Adopted Budget		Percentage Spent	

Revenues										
Interest Income	$	88.98		$	-		$	88.98		$	-		0.00%	
Developer Contributions	67,276.44		390,811.33		(323,534.89)		586,217.00		11.48%	
Net Revenues	$	67,365.42		$	390,811.33		$  (323,445.91)		$	586,217.00		11.49%	
General & Administrative Expenses										
Supervisor Fees	$	200.00		$	4,266.67		$	(4,066.67)		$	6,400.00		3.13%	
Public Officials Insurance	4,012.00		5,466.67		(1,454.67)		8,200.00		48.93%	
Trustee Services	-		10,000.00		(10,000.00)		15,000.00		0.00%	
Management	36,666.64		36,666.67		(0.03)		55,000.00		66.67%	
Engineering	-		10,000.00		(10,000.00)		15,000.00		0.00%	
Disclosure Agent	-		3,333.33		(3,333.33)		5,000.00		0.00%	
District Counsel	17,253.44		10,000.00		7,253.44		15,000.00		115.02%	
Assessment Administration	-		10,000.00		(10,000.00)		15,000.00		0.00%	
Reamortization Schedules	-		666.67		(666.67)		1,000.00		0.00%	
Audit	3,200.00		3,466.67		(266.67)		5,200.00		61.54%	
Arbitrage Calculation	-		333.33		(333.33)		500.00		0.00%	
Travel and Per Diem	616.01		1,600.00		(983.99)		2,400.00		25.67%	
Postage & Shipping	155.26		333.33		(178.07)		500.00		31.05%	
Copies	-		33.33		(33.33)		50.00		0.00%	
Legal Advertising	3,677.66		6,666.67		(2,989.01)		10,000.00		36.78%	
Contingency	8.40		3,333.33		(3,324.93)		5,000.00		0.17%	
Web Site Maintenance	1,475.00		1,800.00		(325.00)		2,700.00		54.63%	
Dues, Licenses, and Fees	175.00		116.67		58.33		175.00		100.00%	
Total General & Administrative Expenses	$	67,439.41		$	108,083.33		$	(40,643.92)		$	162,125.00		41.60%	
Field Expenses										
Electric	$	-		$	800.00		$	(800.00)		$	1,200.00		0.00%	
Utilities	-		3,333.33		(3,333.33)		5,000.00		0.00%	
General Insurance	3,506.00		4,800.00		(1,294.00)		7,200.00		48.69%	
Other Insurance - Crime, etc.	500.00		-		500.00		-		0.00%	
Landscaping Replacement Material	-		1,666.67		(1,666.67)		2,500.00		0.00%	
Irrigation	-		5,000.00		(5,000.00)		7,500.00		0.00%	
Lake Maintenance	-		1,666.67		(1,666.67)		2,500.00		0.00%	
Landscaping Maintenance & Material	-		23,333.33		(23,333.33)		35,000.00		0.00%	
Road Cleaning	-		1,000.00		(1,000.00)		1,500.00		0.00%	
Streetlights	-		14,000.00		(14,000.00)		21,000.00		0.00%	
Miscellaneous	-		10,000.00		(10,000.00)		15,000.00		0.00%	
Storm Water System Management	-		184,461.33		(184,461.33)		276,692.00		0.00%	
Infrastructure Capital Reserve	-		32,666.67		(32,666.67)		49,000.00		0.00%	
Total Field Expenses	$	4,006.00		$	282,728.00		$  (278,722.00)		$	424,092.00		0.94%	
Total Expenses	 $	71,445.41 		 $	390,811.33 		 $  (319,365.92)		 $	586,217.00 			12.19%	
Net Income (Loss)	$	(4,079.99)		$	-		$	(4,079.99)		$	-