Title: IAD-SW Proposed Budget 2024-2025.xlsx
Author: JWalker

Islands At Doral (SW) Community Development District

Proposed Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES

FISCAL YEAR 2024/2025
BUDGET

Administrative Assessments | 82,572
Maintenance Assessments | 31,862
Debt Assessments | 572,496
Other Revenues | 0
Interest Income | 720
TOTAL REVENUES | $	687,650
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Engineering Report/Inspections | 2,000
Storm Drain Inlet Maintenance | 13,000
Street/Roadway Maintenance - Polynesian Subdivision | 4,200
Miscellaneous General Maintenance | 2,650
Miscellaneous Stormwater System Maintenance | 8,100
TOTAL MAINTENANCE EXPENDITURES | $	29,950
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 5,000
Payroll Taxes (Employer) | 383
Management | 34,080
Secretarial & Field Operations | 6,000
Legal | 7,500
Assessment Roll | 6,000
Audit Fees | 3,500
Insurance | 7,200
Legal Advertisements | 2,000
Miscellaneous | 1,900
Postage | 275
Office Supplies | 425
Dues & Subscriptions | 175
Trustee Fees | 4,350
Continuing Disclosure Fee | 350
Website Management | 2,000
Administrative Contingency | 300
TOTAL ADMINISTRATIVE EXPENDITURES | $	81,438
TOTAL EXPENDITURES | $	111,388
REVENUES LESS EXPENDITURES | $	576,262
Bond Payments | (538,146)
BALANCE | $	38,116
County Appraiser & Tax Collector Fee | (13,739)
Discounts For Early Payments | (27,477)
EXCESS/ (SHORTFALL) | $	(3,100)
Carryover From Prior Year | 3,100
NET EXCESS/ (SHORTFALL) | $	-

DETAILED PROPOSED BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES | FISCAL YEAR 2022/2023 ACTUAL | FISCAL YEAR 2023/2024 BUDGET | FISCAL YEAR 2024/2025 BUDGET | COMMENTS
Administrative Assessments | 83,091 | 82,632 | 82,572 | Expenditures Less Interest & Carryover/.94
Maintenance Assessments | 32,875 | 31,862 | 31,862 | Expenditures /.94
Debt Assessments | 572,610 | 572,496 | 572,496 | Payment To Trustee/.94
Other Revenues | 0 | 0 | 0 |
Interest Income | 10,818 | 480 | 720 | Interest Projected At $60 Per Month
TOTAL REVENUES | $	699,394 | $	687,470 | $	687,650 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Engineering Report/Inspections | 1,531 | 2,000 | 2,000 | No Change From 2023/2024 Budget
Storm Drain Inlet Maintenance | 13,088 | 13,000 | 13,000 | No Change From 2023/2024 Budget
Street/Roadway Maintenance - Polynesian Subdivision | 0 | 4,200 | 4,200 | No Change From 2023/2024 Budget
Miscellaneous General Maintenance | 0 | 2,650 | 2,650 | No Change From 2023/2024 Budget
Miscellaneous Stormwater System Maintenance | 0 | 8,100 | 8,100 | No Change From 2023/2024 Budget
TOTAL MAINTENANCE EXPENDITURES | $	14,619 | $	29,950 | $	29,950 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 3,000 | 5,000 | 5,000 | No Change From 2023/2024 Budget
Payroll Taxes (Employer) | 230 | 383 | 383 | Supervisor Fees *7.65%
Management | 32,136 | 33,096 | 34,080 | CPI Adjustment (Capped At 3%)
Secretarial & Field Operations | 6,000 | 6,000 | 6,000 | No Change From 2023/2024 Budget
Legal | 6,969 | 7,500 | 7,500 | No Change From 2023/2024 Budget
Assessment Roll | 6,000 | 6,000 | 6,000 | No Change From 2023/2024 Budget
Audit Fees | 3,800 | 3,900 | 3,500 | Accepted Amount For 2023/2024 Audit
Insurance | 6,134 | 6,300 | 7,200 | Fiscal Year 2023/2024 Expenditure Was $6,594
Legal Advertisements | 399 | 650 | 2,000 | Costs Will Increase Due To Closing Of The Miami Business Review
Miscellaneous | 1,831 | 1,400 | 1,900 | $500 Increase From 2023/2024 Budget
Postage | 258 | 250 | 275 | $25 Increase From 2023/2024 Budget
Office Supplies | 192 | 450 | 425 | $25 Decrease From 2023/2024 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2023/2024 Budget
Trustee Fees | 4,031 | 4,400 | 4,350 | $50 Decrease From 2023/2024 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2023/2024 Budget
Website Management | 2,000 | 2,000 | 2,000 | No Change From 2023/2024 Budget
Administrative Contingency | 0 | 300 | 300 | Administrative Contingency
TOTAL ADMINISTRATIVE EXPENDITURES | $	73,505 | $	78,154 | $	81,438 |
TOTAL EXPENDITURES | $	88,124 | $	108,104 | $	111,388 |
REVENUES LESS EXPENDITURES | $	611,270 | $	579,366 | $	576,262 |
Bond Payments | (546,245) | (538,146) | (538,146) | 2025 Principal & Interest Payments
BALANCE | $	65,025 | $	41,220 | $	38,116 |
County Appraiser & Tax Collector Fee | (6,630) | (13,740) | (13,739) | Two Percent Of Total Assessment Roll
Discounts For Early Payments | (25,018) | (27,480) | (27,477) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	33,377 | $	- | $	(3,100) |
Carryover From Prior Year | 0 | 0 | 3,100 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	33,377 | $	- | $	- |

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES | FISCAL YEAR 2022/2023 ACTUAL | FISCAL YEAR 2023/2024 BUDGET | FISCAL YEAR 2024/2025 BUDGET | COMMENTS
Interest Income | 6,391 | 100 | 500 | Projected Interest For 2024/2025
NAV Tax Collection | 546,245 | 538,146 | 538,146 | Maximum Debt Service Collection
Total Revenues | $	552,636 | $	538,246 | $	538,646 |
EXPENDITURES | | | |
Principal Payments | 382,000 | 392,000 | 407,000 | Principal Payment Due In 2025
Interest Payments | 156,746 | 141,198 | 130,452 | Interest Payments Due In 2025
Bond Redemption | 0 | 5,048 | 1,194 | Estimated Excess Debt Collections
Total Expenditures | $	538,746 | $	538,246 | $	538,646 |
Excess/ (Shortfall) | $	13,890 | $	- | $	- |

Series 2020 Refunding Bonds Information

Original Par Amount = | $6,945,000 | Annual Principal Payments Due = | May 1st
Interest Rate = | 2.69% | Annual Interest Payments Due = | May 1st & November 1st
Issue Date = | January 2020 | |

Maturity Date =

Par Amount As Of 1/1/24 =

May 2035

$5,445,000

Islands At Doral (SW) Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
Lot	Projected	2021/2022	2022/2023	2023/2024	2024/2025
Size		Assessment*	 	Assessment*	 	Assessment*	 	Assessment*	 	Projected Assessment*	

23 | Administrative | $ | -	$	123.06 | $ | 122.98 | $ | 124.45 | $ | 124.36
| Maintenance | $ | -	$	49.51 | $ | 49.51 | $ | 47.99 | $ | 47.99
Debt | $	- | $	713.00 | $	713.00 | $	713.00 | $	713.00
Total For Lot Size 23 | $	1,062.50 | $	885.57 | $	885.49 | $	885.44 | $	885.35

32 | Administrative | $ | -	$	123.06 | $ | 122.98 | $ | 124.45 | $ | 124.36
| Maintenance | $ | -	$	49.51 | $ | 49.51 | $ | 47.99 | $ | 47.99
Debt | $	- | $	857.00 | $	857.00 | $	857.00 | $	857.00
Total For Lot Size 32 | $	1,250.00 | $	1,029.57 | $	1,029.49 | $	1,029.44 | $	1,029.35
35 | Administrative | $ | -	$	123.06 | $ | 122.98 | $ | 124.45 | $ | 124.36
| Maintenance | $ | -	$	49.51 | $ | 49.51 | $ | 47.99 | $ | 47.99
Debt | $	- | $	905.00 | $	905.00 | $	905.00 | $	905.00
Total For Lot Size 35 | $	1,312.50 | $	1,077.57 | $	1,077.49 | $	1,077.44 | $	1,077.35
50 | Administrative | $ | -	$	123.06 | $ | 122.98 | $ | 124.45 | $ | 124.36
| Maintenance | $ | -	$	49.51 | $ | 49.51 | $ | 47.99 | $ | 47.99
Debt | $	- | $	1,214.00 | $	1,214.00 | $	1,214.00 | $	1,214.00
Total For Lot Size 50 | $	1,750.00 | $	1,386.57 | $	1,386.49 | $	1,386.44 | $	1,386.35

* Assessments Include the Following : |

4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information: |
Twenty Three Foot Lots | 280
Thirty Two Foot Lots | 120
Thirty Five Foot Lots | 163
Fifty Foot Lots | 101
Total Units | 664

3/3/2024 8:42 AM

IV

3/3/2024 8:42 AM