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