North Dade Community Development District

www.northdadecdd.com

Maria Godoy, Chair Franklin Lopez, Vice Chairman
William Cuotto, Assistant Secretary Pedro Arredondo, Assistant Secretary Irvin Sosa, Assistant Secretary

April 21, 2026

Seat 2: Maria Godoy – (C.)		
Seat 1: Franklin Lopez – (V.C.)		
Seat 3: William Cuotto – (A.S.)		
Seat 4: Pedro Arredondo – (A.S.)		
Seat 5: Irvin Sosa – (A.S.)		

North Dade
Community Development District
Agenda
Tuesday	Milan’s Community Center
April 21, 2026	10284 NW 32nd Terrace, Miami, Florida 7:00 p.m.		Join the meeting now
Meeting ID: 248 832 042 881 5 and Passcode: yo7cw34V
1 872-240-4685 and Phone Conference ID: 698 652 325#

Roll Call

Audience Comments
Approval of the Minutes of the October 21, 2025 Meeting – Page 3
Consideration of Resolution #2026-01 Approving the Proposed Fiscal Year 2027 Budget and Setting the Public Hearing – Page 8
Acceptance of Audit for Fiscal Year Ending in September 30, 2025 – Page 19
Discussion of Procedures for the General Election – Page 54
Staff Reports
Attorney – Consideration of Request for Adjustment to District Counsel Fee Structure – Page 57

Engineer

Manager – Update on Sanitary Station

Financial Reports
Acceptance of Check Register – Page 59

Acceptance of Unaudited Financials – Page 64

Supervisors Requests

Adjournment
Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: http://www.northdadecdd.com

MINUTES OF MEETING NORTH DADE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the North Dade Community Development District was held on Tuesday, October 21, 2025, at 7:19 p.m. at Milan’s Community Center, 10284 NW 32nd Terrace, Miami, Florida.

Present and constituting a quorum were:

Maria Godoy	Chairperson
William Cuotto	Assistant Secretary
Pedro Arredondo	Assistant Secretary
Irvin Sosa	Assistant Secretary

Also present were:

Jesus Lorenzo	District Manager Gabriela Fernandez by phone	District Counsel

FIRST ORDER OF BUSINESS	Roll Call
Mr. Lorenzo called the meeting to order at 7:19 p.m. and called the roll.

SECOND ORDER OF BUSINESS	Audience Comments
Mr. Lorenzo asked for any audience comments. There being no comments, the next item followed.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the
August 19, 2025 Meeting
Mr. Lorenzo presented the minutes from the August 19, 2025, meeting and asked for any comments, corrections, or deletions. Ms. Godoy motioned to approve August 19th, 2025, meeting minutes with an adjustment to the bottom of Page 6. It should read “Jesus Lorenzo” not “Mr. Fernandez”.

On MOTION by Ms. Godoy, seconded by Mr. Sosa with all in favor, the Minutes of the August 19,2025 Meeting, were approved as amended.

FOURTH ORDER OF BUSINESS	Consideration	of	Engagement
Letter with Grau & Associates to Perform the Audit for Fiscal Year Ending September 30, 2025
Mr. Lorenzo stated as for the last meeting Grau & Associates was selected to be the District’s audit firm and this engagement letter authorizes them to proceed with performing the audit for Fiscal Year 2025.

On MOTION by Ms. Godoy seconded by Mr. Sosa with all in favor, the Engagement Letter with Grau & Associates to Perform the Audit for Fiscal Year Ending September 30, 2025, was approved.

FIFTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Fernandez had nothing to report.

Engineer
There being no comments, the next item followed.

Manager
Final Approval of the FY 2024 Report Performance Measures and Standards
Mr. Lorenzo stated new regulations were established by Florida's legislature in 2024 for special taxing Districts, aimed at improving accountability and transparency. These Districts must set goals, objectives, and performance standards for each program, publish an annual report detailing progress, and submit this report by December 1st each year. Compliance requires establishing objectives in areas like community engagement, infrastructure maintenance, and financial transparency. The Board has consolidated

these requirements into a single reporting document, which is to be posted online for public access.
Mr. Lorenzo provided an overview of compliance activities related to infrastructure, facilities, and financial transparency for a special taxing District. It confirms that the lift stations are operational, and inspections for infrastructure and facilities are up to date. Financial transparency is maintained by comparing and adopting annual budgets by set deadlines, publishing financial reports and audits on the website, and making both current and previous fiscal year budgets and amendments available to the public. The District is in compliance with statutory requirements.

On MOTION by Ms. Godoy seconded by Mr. Sosa with all in favor, Final Approval of the FY 2024 Report Performance Measures and Standards, was approved.

Update to Lift Station
Mr. Lorenzo gave an update to noted that the lift station is working fine. There was an emergency about a month and a half ago when there was a false alarm. The county was contacted and came out and issued an inspection request. The telemetry system and pumps were functioning properly, and there were no operational issues. However, an emergency service call was made, resulting in a charge. A temporary pump was installed alongside the existing system due to increased pressure on the county side, which was explained to be caused by heavy rainfall raising water levels. The temporary pump remains in place for continued testing, particularly to observe how it responds if pressure rises again during future rain events. Once testing is complete and satisfactory, the temporary pump will be removed.
The Board discussed the status of the community pumps and lift station system. The pumps have been repaired, but there are concerns about their current capacity and whether they generate enough pressure. To address this, a temporary pump was installed for additional support and testing, especially during rainfall events when pressure tends to rise. The repairs have been completed, but it is uncertain if the pumps are as strong as before; further testing during future rain spells will confirm their performance.

They clarified that the repaired pumps are now part of the system, and there should not be extra charges for the temporary pump. They also touched on confusion caused by alarm sounds, sometimes mistaken for pump issues but often originating from the jacuzzi or control panel. A telemetry system is now in place to monitor and notify pump activity, helping to reduce confusion and improve maintenance responsiveness.
There was also discussion about past maintenance procedures, the specifications of the pumps, and recurring issues caused by improper disposal of items like grease and wipes, which can lead to blockages and increased maintenance needs. The Board agreed on the importance of continued preventive maintenance and clearer communication channels for reporting issues. Contact numbers were shared for direct support, and plans were made to exchange further information after the meeting.

SIXTH ORDER OF BUSINESS	Financial Reports
Acceptance of Check Register
Acceptance of Unaudited Financials
Mr. Lorenzo presented the financial reports, tab A is the acceptance of the check register, tab B is the acceptance of the final audited financials.

On MOTION by Ms. Godoy seconded by Mr. Sosa with all in favor, Accepting the Check Register and the Unaudited Financials was approved.

SEVENTH ORDER OF BUSINESS	Supervisors Requests
Mr. Lorenzo reminded the Board to complete their ethics training; they have until December 31st.

EIGHTH ORDER OF BUSINESS	Adjournment
Mr. Lorenzo asked for any other District business to discuss, and upon not hearing any, asked for a motion to adjourn the meeting.

On MOTION by Ms. Godoy seconded by Mr. Sosa with all in favor, the meeting was adjourned at 7:46 p.m.

	
Secretary / Assistant Secretary	Chairman / Vice Chairman

RESOLUTION 2026-01
A RESOLUTION OF THE NORTH DADE COMMUNITY DEVELOPMENT DISTRICT APPROVING THE DISTRICT’S PROPOSED BUDGET FOR FISCAL YEAR 2027 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW
WHEREAS, the District Manager has prepared the proposed budget for the Fiscal Year
2027; and

WHEREAS, the Board of Supervisors approves the proposed budget for purpose of submitting said budget to the local governing authorities not less than 60 days prior to the public hearing date in accordance with Chapter 190.008(b), Florida Statutes: and
WHEREAS, the Board of Supervisors desires to set the public hearing date;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE NORTH DADE COMMUNITY DEVELOPMENT DISTRICT:
The proposed budget for Fiscal Year 2027 is hereby approved for the purpose of conducting a public hearing to adopt said budget.
A public hearing on said approved budget is hereby declared and set for the following date, hour and place:

Date: 	 Hour: 	 Place: 	

Notice of public hearing shall be published in accordance with Florida Law. Adopted this 	 day of 	, 2026

Chairman/Vice Chairman

Secretary/Assistant Secretary

North Dade
Community Development District

Proposed Budget
Fiscal Year 2027

Table of Contents

1-2		General Fund	

3	
	Allocation of Operating Reserve	

4-5	
	Budget Narrative	

6	
	Debt Service Fund Series 2018	

7	
	Series 2018 Amortization Schedule	

8	
	Non-Ad Valorem Assessments Comparison	

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
Description	Fiscal Year 2026	3/31/26	6 Months	9/30/26	Fiscal Year 2027	

REVENUES:						
Special Assessments - Tax Roll	$	135,322	$	123,021	$	12,301	$	135,322	$	135,322	
Interest Income	-	1,438	959	2,397	-	
TOTAL REVENUES	$	135,322	$	124,459	$	13,260	$	137,719	$	135,322	

EXPENDITURES:						
General and Administrative:						
Supervisor Fees	$	4,000	$	1,400	$	3,000	$	4,400	$	4,000	
Payroll Taxes	306	107	230	337	306	
Engineering	4,000	60	2,000	2,060	4,000	
Attorney	15,000	3,155	8,750	11,905	12,000	
Annual Audit	3,600	3,400	-	3,400	3,500	
Dissemination Agent	2,100	1,050	1,050	2,100	2,100	
Assessment Roll Administration	1,540	1,540	-	1,540	1,540	
Trustee Fees	3,500	-	3,500	3,500	3,500	
Management Fees	40,158	20,079	20,079	40,158	42,567	
Information Technology	1,000	500	500	1,000	1,000	
Website Maintenance	1,000	500	500	1,000	1,000	
Rentals and Leases	2,400	1,200	1,200	2,400	2,400	
Postage & Delivery	200	24	117	140	200	
Insurance General Liability	8,634	7,663	-	7,663	8,429	
Printing & Binding	500	-	250	250	500	
Legal Advertising	1,500	-	750	750	750	
Other Current Charges	500	343	343	687	1,000	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL GENERAL AND ADMINISTRATIVE:	$	90,113	$	41,196	$	42,268	$	83,464	$	88,967	

Description

Adopted Budget Fiscal Year
2026

Actuals Through
3/31/26

Projected Next
6 Months

Projected Through
9/30/26

Proposed Budget Fiscal Year
2027

Operations and Maintenance		
Lift Station Monthly Maintenance	$	1,800	$	750	$	1,050	$	1,800	$	1,800	
Quarterly Cleaning Pump Station Wells	2,600	-	1,300	1,300	2,600	
Permit and Repairs	25,000	2,608	2,392	5,000	27,500	
Reserves/Contingencies	15,809	-	10,009	10,009	14,454	
Capital Outlay	-	5,800	-	5,800	-	
TOTAL OPERATIONS AND MAINTENANCE	$	45,209	$	9,158	$	14,751	$	23,909	$	46,354	
						
TOTAL EXPENDITURES	$	135,322	$	50,354	$	57,019	$	107,373	$	135,321	
						
EXCESS REVENUES (EXPENDITURES)	$	(0)	$	74,105	$  (43,759)	$	30,346	$	-	

North Dade
Community Development District
Exhibit "A" Allocation of Operating Reserve

OPERATING RESERVE

Beginning Fund Balance - 10/1/25	$	31,742	
Estimated Net Change in Fund Balance - Fiscal Year 2026	30,346	
Total Funds Available (Estimated) - 9/30/26	62,088	

ALLOCATION OF AVAILABLE FUNDS

Funding for First Quarter Operating Expenditures	

33,830	
Total Allocation of Available Funds	33,830	
		
Total Unassigned (Undesignated) Cash	$	28,258	

REVENUES

Special Assessments - On Roll
The District will levy a non-ad valorem assessment on all assessable property within the District.

Expenditures - General and Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 4 meetings.
Payroll Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an independent certified public accounting firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus an anticipated increase.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for unrated bond issues.
Assessment Roll Administration
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local tax collector and financial advisory services.
Trustee Fees
The District bonds are held and administered by a trustee. This represents the trustee annual fee.
Management Fees
The District receives management, accounting, and administrative services as part of a management agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the management agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the District as well as links to useful websites regarding compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.
Rentals and Leases
The District will be charged $200 per month for office rent from Governmental Management Services – South Florida, LLC, for the District's administrative offices located in Miami and Fort Lauderdale.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Expenditures - General and Administrative (Continued)

Insurance General Liability
The District's general liability and public officials liability insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the fiscal year.

Due, Licenses and Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity community affairs for $175.
Contingency/First Quarter Operating
These funds are the first quarter of the following fiscal year of expenses the District will incur before assessments are collected and/or unscheduled expenditures incurred throughout the year, as applicable.

Expenditures – Operations and Maintenance

Lift Station Monthly Maintenance
Costs incurred for the monthly maintenance of the lift station.
Quarterly Cleaning Pump Station Wells
Wet well cleaning performed on a 90-day cycle of the lift station, including debris and grease removal and all disposal fees (DERM and dump).
Permit and Repairs
Represents any miscellaneous field expenses the District might have, including permits, licenses and repairs for the lift station.
Reserves/Contingencies
Funds set aside for a future use to repair or replace capital items.

Proposed Budget
Debt Service Series 2018 Special Assessment Refunding Bonds

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
Description	Fiscal Year	3/31/26	6 Months	9/30/26	Fiscal Year	
	2026				2027	

REVENUES:						
Special Assessments - Tax Roll	$	154,036	$	140,034	$	14,002	$	154,036	$	154,036	
Interest Income	50	3,354	400	3,754	50	
Carry Forward Surplus (1)	82,772	-		81,320	83,962	
TOTAL REVENUES	$	236,858	$	143,388	$	14,402	$	239,110	$	238,048	

EXPENDITURES:						
Interest - 11/1	$	29,574	$	29,574	$	-	$	29,574	$	27,894	
Interest - 5/1	29,574	-	29,574	29,574	27,894	
Principal - 5/1	96,000	-	96,000	96,000	100,000	
TOTAL EXPENDITURES	$	155,148	$	29,574	$ 125,574	$	155,148	$	155,788	
						
EXCESS REVENUES (EXPENDITURES)	$	81,710	$	113,814	$ (111,172)	$	83,962	$	82,261	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

$26,143.75

$26,143.75

Amortization Schedule
Debt Service Series 2018 Special Assessment Refunding Bonds

Period	Outstanding Balance	Principal		Interest	Annual Debt Service	

05/01/26	
$	
1,536,000	
$	
96,000	
$	
29,573.75	
$	
-	
11/01/26	1,440,000		-	27,893.75	153,467.50	
05/01/27	1,440,000	100,000	27,893.75		
11/01/27	1,340,000		-	26,143.75	154,037.50	
05/01/28	1,340,000	99,000	26,143.75		
11/01/28	1,241,000		-	24,411.25	149,555.00	
05/01/29	1,241,000	102,000	24,411.25		
11/01/29	1,139,000		-	22,498.75	148,910.00	
05/01/30	1,139,000	111,000	22,498.75		
11/01/30	1,028,000		-	20,417.50	153,916.25	
05/01/31	1,028,000	114,000	20,417.50		
11/01/31	914,000		-	18,280.00	152,697.50	
05/01/32	914,000	118,000	18,280.00		
11/01/32	796,000		-	15,920.00	152,200.00	
05/01/33	796,000	121,000	15,920.00		
11/01/33	675,000		-	13,500.00	150,420.00	
05/01/34	675,000	125,000	13,500.00		
11/01/34	550,000		-	11,000.00	149,500.00	
05/01/35	550,000	133,000	11,000.00		
11/01/35	417,000		-	8,340.00	152,340.00	
05/01/36	417,000	131,000	8,340.00		
11/01/36	286,000		-	5,720.00	145,060.00	
05/01/37	286,000	139,000	5,720.00		
11/01/37	147,000		-	2,940.00	147,660.00	
05/01/38	147,000	147,000	2,940.00	149,940.00	
Total		$	1,628,000	$	484,461	$	2,112,461	

North Dade
Community Development District
Non-Ad Valorem Assessments Comparison

Product	O&M Units	Bonds
Units 2018	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
			
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (decrease)	
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (decrease)	
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (decrease)	

Townhomes	

176	

176	

$809.34	

$809.34	

$0.00	

$921.27	

$921.27	

$0.00	

$1,730.61	

$1,730.61	

$0.00	
Total Assessment Units	176	176										

March 26, 2026

To the Board of Supervisors
North Dade Community Development District Miami-Dade County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We have audited the financial statements of North Dade Community Development District (“District”) as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated March 26, 2026. Professional standards require that we advise you of the following matters relating to our audit.
We have also examined the District’s compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2025 which was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants.

Our Responsibility in Relation to the Financial Statement Audit

Our responsibility, as described by professional standards, is to form and express an opinion(s) about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.

Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the District solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.

We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.

However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.

Any findings regarding significant deficiencies or material weaknesses in internal control over financial reporting, material noncompliance, or other matters noted during our audit, if any, are communicated in separate reports included in the District’s financial report—titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida.

Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated to you.

Compliance with All Ethics Requirements Regarding Independence

The engagement team, others in our firm, as appropriate, and our firm, have complied with all relevant ethical requirements regarding independence.
With respect to financial statement preparation, the following safeguards are in place:

Management made all decisions and performed all management functions;
A competent individual was assigned to oversee the services;
Management evaluated the adequacy of the services performed;
Management evaluated and accepted responsibility for the result of the service performed; and
Management established and maintained internal controls, including monitoring ongoing activities.
Qualitative Aspects of the Entity’s Significant Accounting Practices
Significant Accounting Policies

Management is responsible for selecting and applying appropriate accounting policies. A summary of the significant accounting policies adopted by the District is included in Note 2 to the financial statements. There were no new accounting policies adopted and no changes in existing significant accounting policies or their application during the fiscal year, other than those described in Note 2, if any. No matters came to our attention that, under professional standards, we are required to inform you about concerning (1) the methods used to account for significant unusual transactions or (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus.

Significant Accounting Estimates

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments normally reflect management’s knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates, if present, may be particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them could differ markedly from management’s current judgments.

In connection with our audit, we considered the reasonableness of the accounting estimates used by management. The most sensitive accounting estimate(s) affecting the financial statements included, as applicable:

Management’s estimate of the useful lives of capital assets.
Management’s estimate of the liability for employee compensated absences.
Management’s estimate of the Net Other Post-Employment Benefits (OPEB) liability.
Management’s estimate of the Net Pension Liability.

If none of the above estimates or other sensitive estimates were applicable in the current year, this section should be read to indicate that no such significant accounting estimates were identified.

We evaluated the key factors and assumptions used by management to develop the estimate(s) and determined that they were reasonable in relation to the financial statements taken as a whole.

Financial Statement Disclosures

Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the District’s financial statements included, as applicable:

Long-term liabilities related to bonds payable and debt service requirements.
Litigation, claims, and assessments related to pending legal matters; and
Pension and Other Post-Employment Benefit (OPEB) plan disclosures.
If no such disclosures were identified for the current year, this section should be read to indicate that we did not note any financial statement disclosures involving significant judgment or sensitivity.

Circumstances Affecting the Auditor’s Report

Professional standards require us to communicate any circumstances that affect the form or content of our auditor’s report. If applicable, such circumstances—such as a modification of opinion, an emphasis-of-matter or other-matter paragraph, or a reference to substantial doubt about the District’s ability to continue as a going concern—are described in our auditor’s report included in the District’s financial report. If no such circumstances existed, this section should be read to indicate that our report was unmodified.

Significant Difficulties Encountered during the Audit

We encountered no significant difficulties in dealing with management relating to the performance of the audit.
Corrected Misstatements

Professional standards require us to communicate all material misstatements identified and corrected during the audit. Management has corrected all misstatements that were identified as a result of our audit procedures. Any such audit adjustments, if applicable, are summarized in the accompanying schedule of journal entries. If none were identified, this section should be read to indicate that we did not note any misstatements that were material, individually or in the aggregate, to the financial statements taken as a whole.

Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the Districts’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit.

Representations Requested from Management

Professional standards require that we obtain certain written representations from management as part of our audit. We have received such representations in a letter. A copy of this letter is available for your review upon request.

Management’s Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters.

Other Significant Matters, Findings, or Issues

In the normal course of our professional association with the District, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year, operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the District’s auditors.

As noted previously in this letter, any current-year findings identified during our audit are communicated in our separate reports titled Independent Auditor’s Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards and Management Letter Pursuant to the Rules of the Auditor General of the State of Florida. If no findings were identified, this section should be read to indicate that we did not note any additional significant matters or findings requiring communication to those charged with governance.

This report is intended solely for the information and use of the Board of Supervisors and management of the District and is not intended to be and should not be used by anyone other than these specified parties.

Grau & Associates

NORTH DADE COMMUNITY DEVELOPMENT DISTRICT
MIAMI-DADE COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

NORTH DADE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA

TABLE OF CONTENTS

	  Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	7	
Statement of Activities	8	
Fund Financial Statements:
Balance Sheet – Governmental Funds	
9	
Reconciliation of the Balance Sheet- Governmental Funds to
the Statement of Net Position	
10	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
11	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
12	
Notes to the Financial Statements	13-21	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balances –
Budget and Actual – General Fund	
22	
Notes to Required Supplementary Information	23	
OTHER INFORMATION		
Data Elements required by FL Statute 218.39 (3) (c)	24	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	

25-26	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

27	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
28-29	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
North Dade Community Development District Miami-Dade County, Florida

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of North Dade Community Development District, Miami-Dade County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c) but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 26, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

March 26, 2026

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of North Dade Community Development District, Miami-Dade County, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2025. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($969,177).

The change in the District’s total net position in comparison with the prior fiscal year was $76,653, an increase. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2025, the District’s governmental funds reported combined ending fund balances of $202,162, an increase of $29,353 in comparison with the prior fiscal year. The total fund balance is non-spendable for prepaid items, restricted for debt service, and the remainder is unassigned which is available for spending at the District’s discretion.
OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.
The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance functions.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.
The District maintains two governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund and the debt service fund, both of which are considered major funds.
The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.
Key components of the District’s net position are reflected in the following table:

NET POSITION SEPTEMBER 30,
2025	2024	
Current and other assets	$	202,982	$	173,809	
Capital assets, net of depreciation	383,332	428,914	
Total assets	586,314	602,723	
Current liabilities	25,465	26,986	
Long-term liabilities	1,530,026	1,621,567	
Total liabilities	1,555,491	1,648,553	
Net position	
Net investment in capital assets	(1,146,694)	(1,192,653)	
Restricted	145,775	135,651	
Unrestricted	31,742	11,172	
Total net position	$	(969,177)	$	(1,045,830)	

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure); less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.
The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which the ongoing program revenues exceeded the cost of operations and depreciation expense.
Key elements of the change in net position are reflected in the following table:

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
2025	2024

Revenues:
Program revenues
Charges for services	$	275,103	$	274,538	
Operating grants and contributions	7,722	6,808	
General revenues	732	2	
Total revenues	283,557	281,348	
Expenses:	
General government	87,469	73,818	
Maintenance and operations	57,949	51,785	
Interest	61,486	64,623	
Total expenses	206,904	190,226	
Change in net position	76,653	91,122	
Net position - beginning	(1,045,830)	(1,136,952)	
Net position - ending	$	(969,177)	$	(1,045,830)	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2025 was $206,904. The costs of the District’s activities were paid by program revenues. Program revenues were comprised primarily of assessments for the current and prior fiscal years. Program revenues also include interest earnings. In total, expenses increased from the prior year primarily as a result of an increase in professional services expenses and lift station maintenance.

GENERAL BUDGETING HIGHLIGHTS
An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2025.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2025, the District had $1,164,601 invested in capital assets for its governmental activities. In the government-wide financial statements depreciation of $781,269 has been taken, which resulted in a net book value of $383,332. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt
At September 30, 2025, the District had $1,536,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND OTHER EVENTS
The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the North Dade Community Development District Finance Department at 5385 N. Nob Hill Road, Sunrise, Florida, 33351.

NORTH DADE COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY, FLORIDA STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

	Governmental
	Activities		
ASSETS		
Cash	$	5,971	
Investments	32,765	
Prepaid items	7,663	
Restricted assets:		
Investments	156,583	
Capital assets		
Depreciable, net		383,332 	
Total assets		586,314 	
LIABILITIES		
Accounts payable	820	
Accrued interest payable	24,645	
Non-current liabilities:		
Due within one year	96,000	
Due in more than one year		1,434,026 	
Total liabilities		1,555,491 	
NET POSITION		
Net investment in capital assets	(1,146,694)	
Restricted for debt service	145,775	
Unrestricted		31,742 	
Total net position	 $	(969,177) 	

See notes to the financial statements

STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

Program Revenues

Net (Expense) Revenue and Changes in Net Position

Functions/Programs	Expenses Primary government:
Governmental activities:

Charges for Services

Operating Grants and Contributions

Governmental Activities

General government

$	87,469	$

87,469	$

-	$	-

Maintenance and operations	57,949	32,205	-	(25,744)	
Interest on long-term debt	61,486	155,429	7,722	101,665	
Total governmental activities	206,904	275,103	7,722	75,921	

General revenues:
Unrestricted investment earnings		732 	
Total general revenues		732 	
Change in net position		76,653 	
Net position - beginning		(1,045,830) 	
Net position - ending	 $	(969,177) 	

See notes to the financial statements

BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2025

	Major Funds	

Total Governmental

General

Debt Service

Funds

ASSETS		
Cash	$	5,971	$	-	$	5,971	
Investments	32,765	156,583	189,348	
Due from other funds	-	13,837	13,837	
Prepaid items	7,663	-	7,663	
Total assets	$	46,399	$	170,420	$	216,819	

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$	820	$	-	$	820	
Due to other funds	13,837	-	13,837	
Total liabilities	14,657	-	14,657	

Fund balances:
Nonspendable:
Prepaid items	7,663	-	7,663	
Restricted for:
Debt service	
-	
170,420	
170,420	
Unassigned	24,079	-	24,079	
Total fund balances	31,742	170,420	202,162	

Total liabilities and fund balances	
$	46,399	
$	170,420	
$	216,819	

See notes to the financial statements

RECONCILIATION OF THE BALANCE SHEET- GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Fund balance - governmental funds	$
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital assets, net of accumulated depreciation, in the assets of the government as a whole.
Cost of capital assets	1,164,601

202,162

Accumulated depreciation		(781,269) 	383,332
All liabilities, both current and long-term, are reported in the government- wide financial statements.
Accrued interest payable	(24,645)	
Unamortized discount	5,974	
Bonds payable		(1,536,000)	(1,554,671) 	
Net position of governmental activities	 $	(969,177) 	

See notes to the financial statements

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

	Major Funds	

Total Governmental

	General	Debt Service	Funds	
REVENUES
Assessments	
$	119,674	
$	155,429	
$	275,103	
Interest	732	7,722	8,454	
Total revenues	120,406	163,151	283,557	

EXPENDITURES
Current:
General government	87,469	-	87,469	
Maintenance and operations	12,367	-	12,367	
Debt service:				
Principal	-	92,000	92,000	
Interest	-	62,368	62,368	
Total expenditures	99,836	154,368	254,204	

Excess (deficiency) of revenues over (under) expenditures	

20,570	

8,783	

29,353	
Fund balances - beginning	11,172	161,637	172,809	

Fund balances - ending	
$	31,742	
$	170,420	
$	202,162	

See notes to the financial statements

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

Amounts reported for governmental activities in the statement of activities are different because:

Net change in fund balances - total governmental funds	$	29,353	
The change in accrued interest on long-term liabilities between the current and prior fiscal year is recorded in the statement of activities, but not in the fund financial statements.	

1,341	
Depreciation on capital assets is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.	

(45,582)	
Amortization of Bond discount is not recognized in the governmental fund financial statements, but is reported as an expense in the statement of activities.	

(459)	
Repayment of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.	

	92,000 	
Change in net position of governmental activities	 $	76,653 	

See notes to the financial statements

MIAMI-DADE COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

North Dade Community Development District ("District") was created on February 17, 2007 by Ordinance 07-12 by the Board of County Commissioners of Miami-Dade County, Florida, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue Bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by the Board of Supervisors ("Board"), which is composed of five members. Currently, none of the supervisors work for or have any affiliation with the Developer. The Supervisors are elected by the landowners of the District. Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes.

The Board has the responsibility for:
Assessing and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.

The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District Board of Supervisors is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services; and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.
Assessments
Assessments are non-ad valorem assessments on benefitted property within the District. Operating and Maintenance Assessments are based upon adopted budget and levied annually at a public hearing of the District. Debt Service Assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the uniform method of collection (Chapter 197.3632, Florida Statutes). Direct collected assessments are due as determined by annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the uniform method are mailed by County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the Debt Service Assessments on their property subject to various provisions in the Bond documents.

Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

The District reports the following major governmental funds:
General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.
Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).

Assets, Liabilities and Net Position or Equity

Deposits and Investments (Continued)
The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.416 (17) Florida Statutes. The District may invest any surplus public funds in the following:
The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.
The State Board of Administration’s (“SBA”) Local Government Surplus Funds Trust Fund (“Florida PRIME”) is a “2a-7 like” pool. A “2a-7 like” pool is an external investment pool that is not registered with the Securities and Exchange Commission (“SEC”) as an investment company, but nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC’s Rule 2a-7 of the Investment Company Act of 1940, which comprises the rules governing money market funds. Thus, the pool operates essentially as a money market fund. The District has reported its investment in Florida PRIME at amortized cost for financial reporting purposes.

Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years	
Infrastructure – stormwater management system	30	
Infrastructure – sanitary sewer	25	
Infrastructure – equipment	10	

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:
Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.
Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

Fund Equity/Net Position (Continued)
Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

Other Disclosures
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE 3 – BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.
Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.
NOTE 4 – DEPOSITS AND INVESTMENTS

Deposits
The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

The District’s investments were held as follows at September 30, 2025:
Weighted Average
	Maturities	Amortized Cost	Credit Risk	

Investment in Local Government Surplus Funds		
Trust Fund (Florida PRIME)	47 days	$	32,765	S&P AAAm	
Allspring Government Money Market Fund	43 days		156,583 	S&P AAAm	
Total Investments		$	189,348		

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
However, the Bond Indenture limits the type of investments held using unspent proceeds.

Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.
The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.

Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. For external investment pools that qualify to be measured at amortized cost, the pool’s participants should also measure their investments in that external investment pool at amortized cost for financial reporting purposes. Accordingly, the District’s investments have been reported at amortized cost above.

NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)

Investments (Continued)
External Investment Pool – With regard to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that “The principal, and any part thereof, of each account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days.” With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose penalties for early withdrawal, subject to disclosure in the enrollment materials of the amount and purpose of such fees. At present, no such disclosure has been made.
As of September 30, 2025, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participant’s daily access to 100% of their account value.

NOTE 5 – INTERFUND RECEIVABLES AND PAYABLES
Interfund receivables and payables at September 30, 2025 were as follows:

 Fund	Receivable	Payable	
General	$	-	$	13,837	
Debt service		13,837	-		
Total	 $	13,837	$	13,837 	

The outstanding balances between funds result primarily from the time lag between the dates that transactions are recorded in the accounting system and payments between funds are made. In the case of the District, the balances between the general fund and the debt service fund relate to assessments collected in the general fund that have not yet been transferred to the debt service fund.

NOTE 6 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2025 was as follows:

Governmental activities
Capital assets, being depreciated

Beginning Balance

Additions	Reductions

Ending Balance

Infrastructure - stormwater management system	$	527,405	$	-	$	-	$	527,405	
Infrastructure - sanitary sewer	595,293	-	-	595,293	
Infrastructure - equipment	41,903	-	-	41,903	
Total capital assets, being depreciated	1,164,601	-	-	1,164,601	

Less accumulated depreciation for:
Infrastructure - stormwater management system	

305,453	

17,580	

-	

323,033	
Infrastructure - sanitary sewer	424,647	23,812	-	448,459	
Infrastructure - equipment	5,587	4,190	-	9,777	
Total accumulated depreciation	735,687	45,582	-	781,269	

Governmental activities capital assets, net	
$	428,914	
$	(45,582)	
$	-	$	383,332	

Depreciation expense was charged to the maintenance and operations function.
NOTE 7 – LONG-TERM LIABILITIES

Series 2018
On July 11, 2018, the District issued $2,112,000 of Special Assessment Bonds, Series 2018, due on May 1, 2028 - 2038 with fixed interest rates ranging from 3.0% to 4.0%. The Bonds were issued to currently refund the Series 2007A Bonds. Interest is to be paid semiannually on each May 1 and November 1, commencing November 1, 2018 and the principal is to be paid serially on each May 1, commencing May 1, 2019.

The Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture.
The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with those requirements of the Bond Indenture at September 30, 2025.

Changes in long-term liability activity for the fiscal year ended September 30, 2025 were as follows:

	Beginning
Balance	
Additions	
Reductions	Ending
Balance	Due within one
year	
Governmental activities Bonds payable:
Series 2018	

$	1,628,000	

$	-	$	

92,000	

$	1,536,000	

$	96,000	
Less discount	6,433	-	459	5,974	-	
Total	$	1,621,567	$	-	$	91,541	$  1,530,026	$	96,000	

NOTE 7 – LONG-TERM LIABILITIES (Continued)

At September 30, 2025, the scheduled debt service requirements on the long-term debt were as follows:

Year ending

	Governmental Activities	

  September 30:	Principal	Interest	Total	
2026	$	96,000	$	59,148	$	155,148	
2027	100,000	55,788	155,788	
2028	99,000	52,288	151,288	
2029	102,000	48,823	150,823	
2030	111,000	44,998	155,998	
2031-2035	611,000	158,235	769,235	
2036-2038		417,000	34,000	451,000 	
Total	 $	1,536,000 $	453,280 $	1,989,280 	

NOTE 8 – MANAGEMENT COMPANY

The District has contracted with a management company to perform management advisory services, which include financial and accounting services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE 9 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

	

 Budgeted Amounts  Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Assessments	
$	117,354	
$	119,674	
$	2,320	
Interest and other revenues	-	732	732	
Total revenues	117,354	120,406	3,052	

EXPENDITURES
Current:
General government	102,354	87,469	14,885	
Maintenance	15,000	12,367	2,633	
Total expenditures	117,354	99,836	17,518	

Excess (deficiency) of revenues over (under) expenditures	

 $	-		

20,570	

 $	20,570 	

Fund balance - beginning		11,172 

Fund balance - ending	 $	31,742 

See notes to required supplementary information

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2025.

OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 UNAUDITED

Element	Comments
Number of district employees compensated in the last pay period of the District’s
fiscal year being reported.	5
Number of independent contractors compensated to whom nonemployee
compensation was paid in the last month of the District’s fiscal year being reported.	2

Employee compensation	$2,400
Independent contractor compensation	$62,722
Construction projects to begin on or after October 1; (>$65K)	Not applicable
See the Schedule of Revenues, Expenditures and

Budget variance report

Changes in Fund Balance - Budget and Actual - General Fund

Ad Valorem taxes;	Not applicable
Non ad valorem special assessments;
Special assessment rate	Operations and maintenance - $709.34 Debt service - $921.27
Special assessment collected	$275,103
Outstanding Bonds:
Series 2018, due May 1, 2019 - May 1, 2038	$1,536,000

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
North Dade Community Development District Miami-Dade County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of North Dade Community Development District, Miami-Dade County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated March 26, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

March 26, 2026

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
To the Board of Supervisors
North Dade Community Development District Miami-Dade County, Florida
We have examined North Dade Community Development District, Miami-Dade County, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2025. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of North Dade Community Development District, Miami-Dade County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

March 26, 2026

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA
To the Board of Supervisors
North Dade Community Development District Miami-Dade County, Florida

Report on the Financial Statements
We have audited the accompanying basic financial statements of North Dade Community Development District, Miami-Dade County, Florida ("District") as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated March 26, 2026.

Auditor’s Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.

Other Reporting Requirements
We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 26, 2026, should be considered in conjunction with this management letter.

Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:
Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.
Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of North Dade Community Development District, Miami-Dade County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank North Dade Community Development District, Miami-Dade County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements and the courtesies extended to us.

March 26, 2026

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None
COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.
There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2024.
Any recommendations to improve the local governmental entity's financial management.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2025.
Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.
There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2025.
The name or official title and legal authority of the District are disclosed in the notes to the financial statements.
The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.
We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2025. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.
Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 24.

NOTICE OF QUALIFYING PERIOD FOR CANDIDATES FOR THE BOARD OF SUPERVISORS OF THE
NORTH DADE COMMUNITY DEVELOPMENT DISTRICT
Notice is hereby given that the qualifying period for candidates for the office of Supervisor of the North Dade Community Development District will commence at noon on June 8, 2026, and close at noon on June 12, 2026. Candidates must qualify for the office of Supervisor with the Miami - Dade Supervisor of Elections located at 2700 NW 87 Avenue, Doral, Florida 33172 and phone number is 305-499-8683 I 305-499-8410. All candidates shall qualify for individual seats in accordance with Section 99.061, Florida Statutes, and must also be qualified electors of the District. A qualified elector is any person at least 18 years of age who is a citizen of the United States, a legal resident of the State of Florida and of the District, and who is registered to vote with the Miami-Dade County Supervisor of Elections. Campaigns shall be conducted in accordance with Chapter 106, Florida Statutes.
The North Dade Community Development District has two seats up for election, specifically Seat #4 and Seat #5. Each seat carries a four-year term of office. Elections are nonpartisan and will be held at the same time as the general election on November 3, 2026, in the manner prescribed by law for general elections.

For additional information, please contact the Miami-Dade County Supervisor of Elections.

From: Pozo, Sandy (Elections) <Sandy.Pozo@votemiamidade.gov>
Sent: Tuesday, January 27, 2026 8:55 AM
To: Jennifer McConnell <jmcconnell@gmssf.com>
Cc: Innocent, Vanessa (Elections) <Vanessa.Innocent@votemiamidade.gov>; Rabagh-Garcia, Nelfa (Elections) <Nelfa.Rabagh-Garcia@votemiamidade.gov>; Washington, Yolanda V. (Elections) <Yolanda.Washington@votemiamidade.gov>
Subject: RE: Verification of Attached Information for Candidate Qualifying

Good morning, Jennifer,

Thank you for reaching out. We have reviewed the document you sent and provided below the direct links to the forms to ensure the most current versions are used:

MD-DE 27 - Acknowledgement for Candidates with the Option to Open a Campaign Account (Miami-Dade County required form)
MD-ED 2  - Receipt of Handbook and the Election Laws of the State of Florida (Miami-Dade County required form)
DS-DE 302NP - Candidate Oath – Nonpartisan Office
CE Form 1 (2025) (To be filed electronically – Candidates will be required to submit a hard copy to the filing officer at the time of qualifying)
Qualifying fee of $25.00 to be made payable to “Miami-Dade County Supervisor of
Elections.”

If the candidate is opening a Campaign Account, the following forms will also be required:

DS-DE 9 - Appointment of Campaign Treasurer and Designation of Campaign Depository for Candidates (only required if opening campaign account to accept donations and make contributions)
DS-DE 84 - Statement of Candidate (only required if opening campaign account to accept donations and make contributions)

MD-ED 10 - Campaign Treasurer’s Report Electronic Filing Requirements for Miami-Dade County (Miami-Dade County required form - Only required if opening campaign account to accept donations and make contributions)

We recommend providing candidates in Miami-Dade County with the direct link to our qualifying package for the 2026 Community Development District Board Member on our website.

Please feel free to share this information with your board members who are up for election or other potential candidates. If any questions arise or further clarification is needed, don’t hesitate to contact me directly or our Candidate Services Section at 305-499-8410.

Thank you for checking in and for ensuring the proper procedures are followed.

Best regards,

Sandy Pozo, Campaign Services Section Manager Office of the Supervisor of Elections Government Affairs Division
Office 305-499-8350

LAW O�'FICES
BILLING© COCHRAN
ESTABLISHED I 977

KENNETH W. MORGAN, JR. MICHAEL J. PAWELCZYK MANUEL R. CDMRAS
ANDREW A. RIEF JEFFERY R. LAWLEY GINGER E. WALD SCOTT C. COCHRAN
ALINE 0. MARCANTONIO JOHN C. WEBBER

STEVEN F. BILLING (I947-J99B)

BILLING COCHRAN, P.A. LAS OLAS SQUARE, SUITE 600
515 EAST LAS DLAS BOULEVARD
FORT LAUDERDALE, FLORIDA 33301 (954) 764-7150
(954) 764-7279 FAX

PGANATIONAL OFFICE CENTER
JOO AVENUE OF THE CHAMPIONS, SUITE 270 PALM BEACH GARDENS, FLORIDA 33418
(561) 659-5970
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CHRISTINE A. BROWN GABRIELLA A. FERNANDEZ PEREZ
MARLENE E. GONZALEZ
LORI B. LEWELLEN LIZA E. SMOKER LUCAS A. WILLIAMS
OF COUNSEL: CLARK J. COCHRAN, JR.
SUSAN F. DELEGAL DENNISE. LYLES BRUCE M. RAMSEY

HAYWARD D. GAY (1943·2007)			RICHARDT. WOULFE

WWW .BILLINGCOCHRAN.COM PLEASE REPLY TO: FORT LAUDERDALE

February 3, 2026

VIA E-MAIL ONLY- JLorenzo@gmssf.com Mr. Jesus Lorenzo
District Manager
Governmental Management Services 5385 N. Nob Hill Road
Sunrise, FL 33351

Re:	Adjustment to District Counsel Fee Structure North Dade Community Development District Our File: 707.05142
Dear Jesus:
This firm's current fee structure has been in place since 2023. Although we are certainly mindful of the necessity to keep increases in the District's expenses, including the cost of legal services, to a minimum, it has become necessary for us to adjust our hourly rates effective, October 1, 2026, as follows:

Attomeys/Partners:
Attorneys/Associates:

$300.00 per hour
$250.00 per hour

This hourly fee structure will be adjusted on a periodic basis in connection with the District's budget process no later than every third Fiscal Year to reflect changes in the Consumer Price Index published by the U.S. Department of Labor.

Mr. Jesus Lorenzo February 3, 2026
Page 2

Naturally, should you feel you have any questions or require any further information in support ofthis adjustment you should feel free to contact me at your convenience. As I think you are aware, we very much appreciate the opportunity to serve as District Counsel as well as your courtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.

MJP/jmp
cc: Jennifer McConnell, GMS (via email only)

North Dade
COMMUNITY DEVELOPMENT DISTRICT

Check Register

Date	Check Numbers	Amount	

11/18/25	

939-941	

$11,130.94	
12/3/25	942	$875.00	
12/10/25	943-946	$145,645.56	
12/17/25	947	$75,000.00	
01/13/26	948-950	$6,423.52	
01/28/26	951	$5,800.00	
02/11/26	952-954	$7,789.64	
03/04/26	955-957	$4,104.08	
03/10/26	958	$500.00	
	TOTAL	$257,268.74	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/05/26	PAGE	1
*** CHECK NOS. 000939-000958	NORTH DADE - GENERAL FUND BANK A NORTH DADE - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/18/25 00003	9/30/25 195552	202509 310-51300-31500	*	500.00
SVCS 09/25
10/31/25 196025	202510 310-51300-31500	*	1,155.00
SVCS 10/25
BILLING COCHRAN PA	1,655.00 000939
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/25 00001	9/15/25 246	202510 310-51300-31400	*	1,540.00
ASSESSMENT ROLL CERT
10/01/25 247	202510 310-51300-34000	*	3,346.50
MGMT FEE 10/25
10/01/25 247	202510 310-51300-44000	*	200.00
RENT 10/25
10/01/25 247	202510 310-51300-35100	*	83.33
COMPUTER TIME 10/25
10/01/25 247	202510 310-51300-31300	*	175.00
DISSEMINATION AGENT SVCS
10/01/25 247	202510 310-51300-35110	*	83.33
WEB ADMIN 10/25
10/01/25 247	202510 310-51300-42000	*	5.92
POSTAGE&DELIVERY 10/25
11/01/25 249	202511 310-51300-34000	*	3,346.50
MGMT FEE 11/25
11/01/25 249	202511 310-51300-44000	*	200.00
RENT 11/25
11/01/25 249	202511 310-51300-35100	*	83.33
COMPUTER TIME 11/25
11/01/25 249	202511 310-51300-31300	*	175.00
DISSEMINATION AGENT SVCS
11/01/25 249	202511 310-51300-35110	*	83.33
WEB ADMIN 11/25
11/01/25 249	202511 310-51300-42000	*	3.70
POSTAGE&DELIVERY 11/25
GOVERNMENTAL MANAGEMENT SERVICES	9,325.94 000940
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/25 00033 11/04/25 10-55287 202511 320-53800-46000	*	150.00
MAINT 11/25
MIAMI DADE PUMP AND SUPPLY CO	150.00 000941
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00033 11/24/25 10-55623 202511 320-53800-46000	*	875.00
SVCS 11/25 SECOND PUMP
MIAMI DADE PUMP AND SUPPLY CO	875.00 000942
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/25 00003 11/30/25 196292	202511 310-51300-31500	*	500.00
SVCS 11/25
BILLING COCHRAN PA	500.00 000943
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
NDAD --NORTH DADE-- JWASSERMAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/05/26	PAGE	2
*** CHECK NOS. 000939-000958	NORTH DADE - GENERAL FUND BANK A NORTH DADE - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

12/10/25 00001	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	
	12/01/25	

310-51300-34000	*	3,346.50	
310-51300-44000	*	200.00	

250	202512
MGMT FEE 12/25
250	202512
RENT 12/25
250	202512 310-51300-35100	*	83.33
COMPUTER TIME 12/25
250	202512 310-51300-31300	*	175.00
DISSEMINATION AGENT SVCS
250	202512 310-51300-35110	*	83.33
WEBSITE ADMIN 12/25
250	202512 310-51300-42000	*	4.44
POSTAGE&DELIVERY 12/25
GOVERNMENTAL MANAGEMENT SERVICES	3,892.60 000944
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/25 00031	9/30/25 IN58086	202509 310-51300-48000	*	319.71
NOTICE OF MEETING FY26
MCCLATCHY COMPANY LLC	319.71 000945
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/25 00016 12/10/25 12102025 202512 300-20700-10100	*	13,837.36
TRANSFER OF TAX RECEIPTS
12/10/25 121025	202512 300-20700-10100	*	127,095.89

NORTH DADE	CDD	C/O	WELLS	FARGO	140,933.25	000946	
- - - - - - - -	- - - - - - - - -	- - -	- - - - - - - - - - - -	- -	- -	- - -	- - -	-	-	-	-	- -	-	-	-	-	- - - - - - - - - - -	- - -	
12/17/25 00019	12/17/25	12172025	202512	300-15100-10000	*	75,000.00	
TRANSFER FUNDS	STATEBOARD	
NORTH DADE	CDD	C/O	STATE	BOARD	ADM	75,000.00	000947	
- - - - - - - -	- - - - - - - - -	- - -	- - - - - - - - - - - -	- -	- -	- - -	- - -	- -	-	-	- -	-	-	-	-	-	- - - - - - - - - -	- - -	
251	202601	310-51300-34000	*	3,346.50	
251	202601	310-51300-44000	*	200.00	
RENT 01/26	
251	202601	310-51300-35100	*	83.33	
COMPUTER TIME	01/26	
251	202601 310-51300-31300	*	175.00	
DISSEMINATION	AGENT SVCS	
251	202601 310-51300-35110	*	83.33	
WEBSIET ADMIN	01/26	
251	202601 310-51300-42000	*	2.22	
POSTAGE&DELIVERY 01/26	
GOVERNMENTAL	MANAGEMENT SERVICES	3,890.38	000948	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - -	- - - - - - - - - -	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
1/13/26 00033	12/24/25	10-56161 202512 320-53800-46000	*	1,733.14	
FIX LEAK 12/25	
12/30/25	10-56208 202512 320-53800-46000	*	150.00	
MAINT 12/25	

TRANSFER OF TAX RECEIPTS

1/13/26 00001	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	

MGMT FEE 01/26

NDAD --NORTH DADE-- JWASSERMAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/05/26	PAGE	3
*** CHECK NOS. 000939-000958	NORTH DADE - GENERAL FUND BANK A NORTH DADE - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

	MAINT 01/26
MIAMI DADE PUMP AND SUPPLY	CO												2,033.14	000949	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- -	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
1/13/26 00003	12/31/25 196831	202512 310-51300-31500						*						500.00			
	12/25 LEGAL SVCS															
	BILLING COCHRAN PA													500.00	000950	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- -	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
1/28/26 00033	1/27/26 10-56633 202601 310-51300-60000						*						5,800.00			
	INSTALL MONITOR SYSTEM															
	MIAMI DADE PUMP AND SUPPLY	CO												5,800.00	000951	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- -	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
2/11/26 00003	1/31/26 197175	202601 310-51300-31500						*						500.00			

1/12/26 10-56392 202601 320-53800-46000	*	150.00

SVCS 01/26

BILLING COCHRAN PA	500.00 000952

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/11/26 00001	2/01/26 252	202602 310-51300-34000	*	3,346.50
MGMT FEE 02/26
2/01/26 252	202602 310-51300-44000	*	200.00
RENT 02/26
2/01/26 252	202602 310-51300-35100	*	83.33
COMPUTER TIME 02/26
2/01/26 252	202602 310-51300-31300	*	175.00
DISSEMINATION AGENT SVCS
2/01/26 252	202602 310-51300-35110	*	83.33
WEBSITE ADMIN 02/26
2/01/26 252	202602 310-51300-42000	*	1.48
POSTAGE&DELIVERY 02/26
GOVERNMENTAL MANAGEMENT SERVICES	3,889.64 000953
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/11/26 00012	2/02/26 28632	202602 310-51300-32200	*	3,400.00
AUDIT FYE 09/30/25
GRAU & ASSOCIATES	3,400.00 000954
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/04/26 00023	2/06/26 23-0038- 202602 310-51300-31100	*	60.00
MEETING 02/26
FORD ENGINEERS, INC.	60.00 000955
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/04/26 00001	3/01/26 253	202603 310-51300-34000	*	3,346.50
MGMT FEE 03/26
3/01/26 253	202603 310-51300-44000	*	200.00
RENT 03/26
3/01/26 253	202603 310-51300-35100	*	83.33
COMPUTER TIME 03/26
3/01/26 253	202603 310-51300-31300	*	175.00
DISSEMINATION AGENT SVCS
NDAD --NORTH DADE-- JWASSERMAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/05/26	PAGE	4

CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS					AMOUNT	....CHECK..... AMOUNT	#	
3/01/26 253	202603 310-51300-35110	*					83.33		
WEBSITE ADMIN 03/26
3/01/26 253	202603 310-51300-42000	*
GOVERNMENTAL MANAGEMENT SERVICES					5.92	

3,894.08 000956	
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/04/26 00033	2/18/26 10-57042 202602 320-53800-46000	*
MIAMI DADE PUMP AND SUPPLY CO	-	-	-	-	- - - - - -	- - - - - - - -

150.00 000957	
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/10/26 00003	2/28/26 197559	202602 310-51300-31500	*
BILLING COCHRAN PA	-	-	-	-	- - - - - -	- - - - - - - -

500.00 000958	
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	- - - - - -	- - - - - - - -	
TOTAL FOR BANK A					257,268.74		
TOTAL FOR REGISTER					257,268.74		

*** CHECK NOS. 000939-000958	NORTH DADE - GENERAL FUND BANK A NORTH DADE - GF

POSTAGE&DELIVERY 03/26

MAINT 02/26

150.00

SVCS 02/26

500.00

NDAD --NORTH DADE-- JWASSERMAN

North Dade
Community Development District

Unaudited Financial Reporting
March 31, 2026

Table of Contents

	Balance Sheet

	General Fund

	Debt Service Fund Series 2018

	Month to Month

	Long Term Debt Report

	Assessment Receipt Schedule

Balance Sheet
	March 31, 2026		
	General Fund	Debt Service Fund		Totals Governmental Funds	

Operating Account	
$	9,582	
$	-	
$	
9,582	
Due from General Fund	-	12,938		12,939	
Investments:
State Board of Administration	

109,203	

-		

109,203	
Series 2018 Reserve	

-	

89,079		

89,079	
Interest A	-	9		9	
Revenue	-	182,196		182,196	
Principal	-	11		11	
Total Assets	$	118,785	$	284,233	$	403,018	

Liabilities:					
Due to Debt Service	$	12,938	$	-	$	12,938	
Total Liabilities	$	12,938	$	-	$	12,938	

Fund Balances:
Restricted for:
Debt Service	$	-	

$	284,233	

$	

284,233	
Unassigned	105,847	-		105,847	
Total Fund Balances	$	105,847	$	284,233	$	390,080	
					
Total Liabilities & Fund Balance	$	118,785	$	284,233	$	403,018	

General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended March 31, 2026

	Adopted	Prorated Budget	Actual		
	Budget	Through 03/31/26	Through 03/31/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	135,322	$	135,322	$	123,021	$	(12,301)	
Interest Income	-	-	1,438	1,438	
Total Revenues	$	135,322	$	135,322	$124,459	$	(10,863)	

Expenditures:					
General and Administrative:
Supervisor Fees	

$	4,000	

$	2,000	

$	1,400	

$	600	
Payroll Taxes	306	153	107	46	
Engineering	4,000	2,000	60	1,940	
Attorney	15,000	7,500	3,155	4,345	
Annual Audit	3,600	3,600	3,400	200	
Dissemination Agent	2,100	1,050	1,050	-	
Assessment Roll Administration	1,540	1,540	1,540	-	
Trustee Fees	3,500	1,750	-	1,750	
Management Fees	40,158	20,079	20,079	(0)	
Information Technology	1,000	500	500	0	
Website Maintenance	1,000	500	500	0	
Rentals and Leases	2,400	1,200	1,200	-	
Postage and Delivery	200	100	24	76	
Insurance General Liability	8,634	8,634	7,663	971	
Printing and Binding	500	250	-	250	
Legal Advertising	1,500	750	-	750	
Other Current Charges	500	250	343	(93)	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	90,113	$	52,031	$	41,196	$	10,835	

Operations and Maintenance					
Lift Station Monthly Maintenance	$	1,800	$	900	$	750	$	150	
Quarterly Cleaning Pump Station Wells	2,600	1,300	-	1,300	
Permit and Repairs	25,000	12,500	2,608	9,892	
Reserves/Contingencies	15,809	7,905	-	7,905	
Capital Outlay	-	-	5,800	(5,800)	
Total Operations and Maintenance	$	45,209	$	22,605	$	9,158	$	13,446	
					
Total Expenditures	$	135,322	$	74,635	$	50,354	$	24,281	
					
Excess (Deficiency) of Revenues over Expenditures	$	(0)	$	60,686	$	74,105	$	13,419	
					
Fund Balance - Beginning			$	31,742		
					
Fund Balance - Ending			$	105,847		

Debt Service Fund Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended March 31, 2026

	Adopted	Prorated Budget	Actual		
	Budget	Through 03/31/26	Through 03/31/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	154,036	$	154,036	$	140,034	$	(14,002)	
Interest Income	50	25	3,354	3,329	
Total Revenues	$	154,086	$	154,061	$	143,388	$	(10,673)	

Expenditures:					
Interest - 11/1	$	29,574	$	29,574	$	29,574	$	-	
Interest - 5/1	29,574	-	-	-	
Principal - 5/1	96,000	-	-	-	
Total Expenditures	$	155,148	$	29,574	$	29,574	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(1,062)	$	124,487	$	113,814	$	(10,673)	
					
Net Change in Fund Balance	$	(1,062)	$	124,487	$	113,814	$	(10,673)	
					
Fund Balance - Beginning			$	170,419		
					
Fund Balance - Ending			$	284,233		

North Dade
Community Development District Month to Month

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:													
Special Assessments - Tax Roll	$	-	$  30,889	$  85,397	$	2,793	$	2,356	$	1,586	$	-	$	-	$	-	$	-	$	-	$	-	$ 123,021	
Interest Income	119	112	177	357	319	354	-	-	-	-	-	-	1,438	
Total Revenues	$	119	$  31,001	$  85,574	$  3,150	$  2,675	$  1,940	$	-	$	-	$	-	$	-	$	-	$	-	$ 124,459	

Expenditures:													
General and Administrative:													

Supervisor Fees	
$	600	
$	800	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	1,400	
Payroll Taxes	46	61	-	-	-	-	-	-	-	-	-	-	107	
Engineering	-	-	-	-	60	-	-	-	-	-	-	-	60	
Attorney	1,155	500	500	500	500	-	-	-	-	-	-	-	3,155	
Annual Audit	-	-	-	-	3,400	-	-	-	-	-	-	-	3,400	
Dissemination Agent	175	175	175	175	175	175	-	-	-	-	-	-	1,050	
Assessment Roll Administration	1,540	-	-	-	-	-	-	-	-	-	-	-	1,540	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	3,347	3,347	3,347	3,347	3,347	3,347	-	-	-	-	-	-	20,079	
Information Technology	83	83	83	83	83	83	-	-	-	-	-	-	500	
Website Maintenance	83	83	83	83	83	83	-	-	-	-	-	-	500	
Rentals and Leases	200	200	200	200	200	200	-	-	-	-	-	-	1,200	
Postage and Delivery	6	4	4	2	1	6	-	-	-	-	-	-	24	
Insurance General Liability	7,663	-	-	-	-	-	-	-	-	-	-	-	7,663	
Printing and Binding	-	-	-	-	-	-	-	-	-	-	-	-	-	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	89	63	58	19	55	59	-	-	-	-	-	-	343	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$  15,162	$  5,316	$  4,451	$  4,410	$  7,905	$  3,953	$	-  $	-  $	-  $	-  $	-  $	-  $  41,196	

Operations & Maintenance								
Lift Station Monthly Maintenance	$	150	$	150	$	150	$	150	$	150	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	750	
Quarterly Cleaning Pump Station Wells	-	-	-	-	-	-	-	-	-	-	-	-	-	
Permit and Repairs	-	875	1,733	-	-	-	-	-	-	-	-	-	2,608	
Reserves/Contingencies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Capital Outlay	-	-	-	5,800	-	-	-	-	-	-	-	-	5,800	
Subtotal Field Expenditures	$	150	$  1,025	$  1,883	$  5,950	$	150	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $  9,158	
								
Total Operations & Maintenance	$	150	$  1,025	$  1,883	$  5,950	$	150	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $  9,158	
								
Total Expenditures	$  15,312	$  6,341	$  6,334	$  10,360	$  8,055	$  3,953	$	-  $	-  $	-  $	-  $	-  $	-  $  50,354	
								
Excess (Deficiency) of Revenues over Expenditures	$ (15,193)	$  24,660	$  79,240	$  (7,210)	$  (5,380)	$  (2,013)	$	-  $	-  $	-  $	-  $	-  $	-  $  74,105	
								
Net Change in Fund Balance	$ (15,193)	$  24,660	$  79,240	$  (7,210)	$  (5,380)	$  (2,013)	$	-  $	-  $	-  $	-  $	-  $	-  $  74,105	

North Dade
Community Development District Long Term Debt Report

	Series 2018, Special Assessment Refunding Bonds		
Original Amount:	$2,112,000		
Maturity Date:	5/1/2038		
Term 1: $871,000 Serial Bonds	$871,000		
Interest Rate:	3.00%-3.50%		
Maturity Date:	5/1/2019-5/1/2028		
Term 2: $327,000 Term Bond	$327,000		
Interest Rate:	3.75%		
Maturity Date:	5/1/2031		
Term 3: $914,000 Term Bond	$914,000		
Interest Rate:	4.00%		
Maturity Date:	5/1/2038		
Bonds Outstanding		$1,536,000	
Less: Principal Payment - 5/1/26		-	
Current Bonds Outstanding		$1,536,000	

North Dade
COMMUNITY DEVELOPMENT DISTRICT

	Gross Assessments	$	142,443.84	$	162,143.52	$	304,587.36	
	Net Assessments	$	133,897.21	$	152,414.91	$	286,312.12	
ON ROLL ASSESSMENTS	
Allocation in %	
46.77%	
53.23%	
100.00%	

Special Assessment Receipts - Miami-Dade County

Date	Distribution	Gross Amount	Discount/Penalty	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/17/25	
11/1/25-11/10/25	
$	19,036.71	
$	761.45	
$	182.75	
$	-	
$	18,092.51	
$	8,461.17	
$	9,631.34	
$	18,092.51	
11/25/25	6/1/25-10/31/25	5,548.11	303.19	52.45	-	5,192.47	2,428.32	2,764.15	5,192.47	
11/28/25	11/11/25-11/20/25	44,995.86	1,799.84	431.96	-	42,764.06	19,999.11	22,764.95	42,764.06	
12/05/25	11/21/25-11/30/25	181,714.05	7,268.41	1,744.46	-	172,701.18	80,765.73	91,935.45	172,701.18	
12/24/25	12/1/25-12/15/25	10,383.66	380.76	100.03	-	9,902.87	4,631.19	5,271.68	9,902.87	
01/09/26	12/16/25-12/31/25	5,879.01	124.45	57.54	-	5,697.02	2,664.28	3,032.74	5,697.02	
01/26/26	INTEREST	-	-	-	275.32	275.32	128.76	146.56	275.32	
02/11/26	1/1/26-1/31/26	5,191.83	103.83	50.88	-	5,037.12	2,355.67	2,681.45	5,037.12	
03/11/26	2/1/26-2/28/26	3,461.22	34.61	34.27	-	3,392.34	1,586.47	1,805.87	3,392.34	
	TOTAL	$	276,210.45	$	10,776.54	$	2,654.34	$	275.32	$	263,054.89	$	123,020.70	$	140,034.19	$	263,054.89	

$

90.68%
28,376.91

Percent Collected
Balance Remaining to Collect