Islands At Doral (SW) Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL 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 FINAL 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 FINAL 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	

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