North Dade
Community Development District

Adopted Budget
Fiscal Year 2026

Table of Contents

1-2		General Fund

	Budget Narrative

	Debt Service Fund Series 2018

	Series 2018 Amortization Schedule

	Non-Ad Valorem Assessments Comparison

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Adopted Budget	
Description	Fiscal Year 2025	7/31/25	2 Months	9/30/25	Fiscal Year 2026	

REVENUES:						
Special Assessments - Tax Roll	$	117,354	$	119,637	$	28	$	119,665	$	135,322	
Interest Income	-	394	150	544	-	
TOTAL REVENUES	$	117,354	$	120,031	$	178	$	120,209	$	135,322	

EXPENDITURES:						
General and Administrative:						
Supervisor Fees	$	4,000	$	1,200	$	1,000	$	2,200	$	4,000	
Payroll Taxes	306	92	77	168	306	
Engineering	4,000	-	4,000	4,000	4,000	
Attorney	10,000	10,818	3,606	14,423	15,000	
Annual Audit	3,900	3,900	-	3,900	3,600	
Dissemination Agent	2,100	1,750	350	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	38,988	32,490	6,498	38,988	40,158	
Information Technology	1,000	833	167	1,000	1,000	
Website Maintenance	1,000	833	167	1,000	1,000	
Rentals and Leases	2,400	2,000	400	2,400	2,400	
Postage & Delivery	200	104	35	139	200	
Insurance General Liability	7,647	7,230	-	7,230	8,634	
Printing & Binding	650	25	163	187	500	
Legal Advertising	500	2,303	-	2,303	1,500	
Other Current Charges	500	243	125	368	500	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Contingency/First Quarter Operating	19,948	-	-	-	-	
TOTAL GENERAL AND ADMINISTRATIVE:	$	102,354	$	69,036	$	16,586	$	85,621	$	90,113	

Description

Adopted Budget Fiscal Year
2025

Actuals Through
7/31/25

Projected Next
2 Months

Projected Through
9/30/25

Adopted Budget Fiscal Year
2026

Operations and Maintenance		
Lift Station Monthly Maintenance	$	10,000	$	1,050	$	23,466	$	1,050	$	1,800	
Quarterly Cleaning Pump Station Wells	-	-	-	-	2,600	
Permit and Repairs	5,000	10,724	-	10,724	25,000	
Reserves/Contingencies	-	-	-	-	15,809	
TOTAL OPERATIONS AND MAINTENANCE	$	15,000	$	11,774	$	23,466	$	11,774	$	45,209	
						
TOTAL EXPENDITURES	$	117,354	$	80,810	$	40,052	$	97,395	$	135,322	
						
EXCESS REVENUES (EXPENDITURES)	$	(0)	$	39,221	$  (39,874)	$	22,813	$	-	

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
Costs incurred for the maintenance of the lift station.
Permits/Licenses/Contingencies
Represents any miscellaneous field expenses the District might have, including permits and licenses for the lift station.
Capital Reserves
Funds set aside for a future use to repair or replace capital items.

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Adopted Budget	
Description	Fiscal Year 2025	7/31/25	2 Months	9/30/25	Fiscal Year 2026	

REVENUES:						
Special Assessments - Tax Roll	$	154,036	$	155,381	$	36	$	155,417	$	154,036	
Interest Income	50	6,696	400	7,096	50	
Carry Forward Surplus (1)	77,026	-		74,626	82,772	
TOTAL REVENUES	$	231,112	$	162,077	$	436	$	237,139	$	236,858	

EXPENDITURES:						
Interest - 11/1	$	31,184	$	31,184	$	-	$	31,184	$	29,574	
Interest - 5/1	31,184	31,184	-	31,184	29,574	
Principal - 5/1	92,000	92,000	-	92,000	96,000	
TOTAL EXPENDITURES	$	154,368	$	154,368	$	-	$	154,368	$	155,148	
						
EXCESS REVENUES (EXPENDITURES)	$	76,744	$	7,710	$	436	$	82,772	$	81,710	

(1) Carry Forward is Net of Reserve Requirement		
Interest Due 11/1/26	
$27,893.75	
					$27,893.75	

Period	Outstanding Balance	Principal		Interest	Annual Debt Service	

05/01/25	
$	
1,628,000	
$	
92,000	
$	
31,183.75		
11/01/25	1,536,000		-	29,573.75	152,757.50	
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 2026	
Fiscal Year 2025	Increase/ (decrease)	
Fiscal Year 2026	
Fiscal Year 2025	Increase/ (decrease)	
Fiscal Year 2026	
Fiscal Year 2025	Increase/ (decrease)	

Townhomes	

176	

176	

$809.34	

$709.34	

$100.00	

$921.27	

$921.27	

$0.00	

$1,730.61	

$1,630.61	

$100.00	
Total Assessment Units	176	176