Adopted Budget
Fiscal Year 2022

North Dade Community Development District

July 20, 2021

North Dade
Community Development District

TABLE OF CONTENTS

General Fund
Budget Narrative

Page 1
Page 2-3

Debt Service Fund
Series 2018
Budget
Amortization Schedule - 2018

Page 4
Page 5

North Dade
Community Development District

General Fund

Adopted Budget FY2021

Actual Thru 6/30/2021

Projected Next
3 Months

Total Projected at 9/30/2021

Adopted Budget FY2022

DESCRIPTION

Revenues

Maintenance Assessments Interest
Unassigned Fund Balance

$84,092
$0
$7,531

$81,722
$7
$33,738

$2,369
$0
$0

$84,092
$7
$33,738

$84,092
$0
$3,747

Total Revenues

$91,623

$115,468

$2,369

$117,837

$87,839

Expenditures

Administrative

Supervisor's Fee (1) FICA Expense Engineering Dissemination Agent Assessment Roll Attorney
Annual  Audit Trustee Fees Management Fees Computer Time Website Compliance Postage
Printing & Binding Rentals & Leases Insurance
Legal Advertising Other Current Charges Office Supplies
Dues, Licenses & Subscriptions Capital Outlay
Contingency
1st Quarter Operating

$4,000
$306
$1,000
$2,100
$1,100
$10,000
$4,000
$3,500
$37,853
$1,000
$1,000
$200
$650
$2,400
$6,355
$1,000
$500
$100
$175
$200
$150
$3,784

$800
$61
$0
$1,575
$1,100
$4,805
$3,500
$0
$28,390
$750
$750
$14
$115
$1,800
$6,218
$0
$411
$1
$175
$0
$0
$0

$1,000
$77
$1,000
$525
$0
$5,195
$0
$3,500
$9,463
$250
$250
$186
$535
$600
$0
$1,000
$90
$99
$0
$200
$150
$0

$1,800
$138
$1,000
$2,100
$1,100
$10,000
$3,500
$3,500
$37,853
$1,000
$1,000
$200
$650
$2,400
$6,218
$1,000
$501
$100
$175
$200
$150
$0

$4,000
$306
$1,000
$2,100
$1,100
$10,000
$4,000
$3,500
$37,853
$1,000
$1,000
$200
$650
$2,400
$6,355
$1,000
$500
$100
$175
$200
$150
$0

Total Administrative

 	$81,373 

 	$50,465 

 	$24,120 

 	$74,584 

 	$77,589 

Field

Lift Station Contingency

$6,750
$3,500

$31,405
$997

$4,600
$2,503

$36,005
$3,500

$6,750
$3,500

Total Field

 	$10,250 

 	$32,402 

 	$7,103 

 	$39,505 

 	$10,250 

Total Expenditures

 	$91,623 

 	$82,867 

 	$31,223 

 	$114,090 

 	$87,839 

Excess Revenue/(Expenditures)

$0

$32,601

($28,854)

$3,747

$0

(1) Based on the assumption of 4 meetings per year

Page 1

2019	2020	2021	2022

Gross Assessments Less: 5% Disc. & Collections
Net Assessments
Units Gross Per Unit Net Per Unit

$88,517	$88,517	$88,517	$88,517 ($4,426)		($4,426)		($4,426)		($4,426)

$84,092	$84,092	$84,092	$84,092

176	176	176	176
$503	$503	$503	$503
$478	$478	$478	$478

North Dade
Community Development District

General Fund

REVENUES:

Maintenance Assessments

The District will levy a Maintenance Assessment on all assessable property within the District.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

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 un-rated bond issues.

Assessment Roll
Governmental Management Services serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Attorney
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The Districts issued Series 2018 Special Assessment Refunding Bonds which are held with a Trustee at Wells Fargo Bank. The amount of the trustee fees is based on the agreement between Wells Fargo Bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Computer Time
The District processes all its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Website Compliance
Per Section 189.069 F.S., all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated as required by the Statutes.

Page 2

North Dade
Community Development District

General Fund

Administrative: (continued)

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes  etc.

Rental & 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.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Contingency
Represents any miscellaneous field expenses the District might have.

Field:

Lift Station
The District will enter into a contract agreement with Johnson Environmental Services for the maintenance of the Lift Station.

Contingency
Represents any miscellaneous field expenses the District might have.

Page 3

North Dade
Community Development District

Debt Service Fund
Series 2018, Special Assessment Refunding Bonds

Adopted Budget FY2021

Actual Thru 6/30/2021

Projected Next
3 Months

Total Projected at 9/30/2021

Adopted Budget FY2022

DESCRIPTION

Revenues

Special Assessments (1)Carry Forward Surplus Interest Income

$154,036
$59,511
$50

$149,679
$59,457
$13

$4,357
$0
$0

$154,036
$59,457
$13

$154,036
$59,678
$50

Total Revenues

$213,597

$209,149

$4,357

$213,506

$213,764

Expenditures

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

$36,414
$81,000
$36,414

$36,414
$81,000
$36,414

$0
$0
$0

$36,414
$81,000
$36,414

$35,199
$81,000
$35,199

Total Expenditures

$153,828

$153,828

$0

$153,828

$151,398

Excess Revenue/(Expenditures)

$59,770

55,321

4,357

59,678

62,367

(1) Carryforward Surplus is Net of Reserve Requirement

Interest Payment - 11/1/22

$33,984

2022

Page 4

Units	Gross Assmt
176	$921
Less: 5% Disc & Coll. 		($46) Net Assessments	$875

Totals
$162,144 ($8,107)

$154,036

North Dade
Community Development District

Series 2018, Special Assessment Refunding Bonds
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

1-Nov-18
1-May-19
1-Nov-19
1-May-20
1-Nov-20
1-May-21

$
$
$
$
$
$

2,112,000
2,112,000
2,039,000
2,039,000
1,962,000
1,962,000

$
$
$
$
$
$

23,627.85
38,663.75
37,568.75
37,568.75
36,413.75
36,413.75

$
$
$
$
$
$

- 73,000.00
- 77,000.00
- 81,000.00

$

135,291.60

$

152,137.50

$

153,827.50

1-Nov-22
1-May-23
1-Nov-23
1-May-24
1-Nov-24
1-May-25
1-Nov-25
1-May-26
1-Nov-26
1-May-27
1-Nov-27
1-May-28
1-Nov-28
1-May-29
1-Nov-29
1-May-30
1-Nov-30
1-May-31
1-Nov-31
1-May-32
1-Nov-32
1-May-33
1-Nov-33
1-May-34
1-Nov-34
1-May-35
1-Nov-35
1-May-36
1-Nov-36
1-May-37
1-Nov-37
1-May-38

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,800,000
1,800,000
1,716,000
1,716,000
1,628,000
1,628,000
1,536,000
1,536,000
1,440,000
1,440,000
1,340,000
1,340,000
1,241,000
1,241,000
1,139,000
1,139,000
1,028,000
1,028,000
914,000
914,000
796,000
796,000
675,000
675,000
550,000
550,000
417,000
417,000
286,000
286,000
147,000
147,000

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,983.75
33,983.75
32,723.75
32,723.75
31,183.75
31,183.75
29,573.75
29,573.75
27,893.75
27,893.75
26,143.75
26,143.75
24,411.25
24,411.25
22,498.75
22,498.75
20,417.50
20,417.50
18,280.00
18,280.00
15,920.00
15,920.00
13,500.00
13,500.00
11,000.00
11,000.00
8,340.00
8,340.00
5,720.00
5,720.00
2,940.00
2,940.00

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

- 84,000.00
- 88,000.00
- 92,000.00
- 96,000.00
- 100,000.00
- 99,000.00
- 102,000.00
- 111,000.00
- 114,000.00
- 118,000.00
- 121,000.00
- 125,000.00
- 133,000.00
- 131,000.00
- 139,000.00
- 147,000.00

$

151,967.50

$

153,447.50

$

154,367.50

$

155,147.50

$

155,787.50

$

151,287.50

$

150,822.50

$

155,997.50

$

154,835.00

$

154,560.00

$

152,840.00

$

152,000.00

$

155,000.00

$

147,680.00

$

150,440.00

$

152,880.00

  $	929,714.10 

  $	2,112,000.00 

  $	3,041,714.10 

Page 5

1-Nov-21	$	1,881,000	$	35,198.75	$	-
1-May-22	$	1,881,000	$	35,198.75	$	81,000.00	$	151,397.50