Biscayne Drive Estates
Community Development District

Adopted Budget
FY2025

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Series 2022 Amortization Schedule

6		Assessment Schedule

Biscayne Drive Estates	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	4/30/24	5 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	100,936	$	98,812	$	2,124	$	100,936	$	100,935	
Interest Income	-	295	1,475	1,770	-	
Developer Contributions	-	31,667	-	31,667	31,200	
Carry Forward Surplus	-	-	-	-	1,952	

TOTAL REVENUES	$	100,936	$	130,774	$	3,599	$	134,373	$	134,087	

EXPENDITURES:

Administrative						
Engineering	$	2,000	$	108	$	833	$	941	$	2,000	
Attorney	12,000	4,030	4,030	8,060	12,000	
Annual Audit	4,000	5,300	-	5,300	4,000	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Arbitrage Rebate	1,200	-	1,200	1,200	1,200	
Dissemination Agent	1,200	700	500	1,200	1,260	
Trustee Fees	3,500	4,041	-	4,041	4,041	
Management Fees	22,000	12,833	9,167	22,000	23,540	
Information Technology	1,200	700	500	1,200	1,200	
Website Maintenance	1,200	700	500	1,200	1,200	
Postage & Delivery	200	-	83	83	200	
Insurance General Liability	6,000	5,200	-	5,200	6,300	
Printing & Binding	200	-	83	83	200	
Legal Advertising	1,200	650	550	1,200	2,000	
Other Current Charges	150	187	134	321	300	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	58,225	$	36,624	$	17,580	$	54,204	$	61,616	
Operations & Maintenance
Field Expenditures

Electric - Street Lighting (80 poles)	$	36,000	$	-	$	36,000	$	36,000	$	36,000	
Repairs and Maintenance	1,911	-	796	796	1,911	
Landscape Maintenance	-	18,200	12,000	30,200	31,200	
Drainage Clean Up	4,800	-	4,800	4,800	3,360	
TOTAL FIELD EXPENDITURES	$	42,711	$	18,200	$	53,596	$	71,796	$	72,471	

TOTAL EXPENDITURES	$	100,936	$	54,824	$	71,176	$	126,000	$	134,087	

EXCESS REVENUES (EXPENDITURES)	$	-	$	75,950	$	(67,577)	$	8,373	$	-	

Biscayne Drive Estates	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES

Special Assessments - Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Developer Contributions	
The Developer funded landscaping maintenance for the district for three fiscal years FY2024 through FY2026.	

Expenditures - Administrative

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 anticipated increase.
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.
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.
Trustee Fees
The District bonds will be 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 CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Biscayne Drive Estates
Community Development District
Budget Narrative Fiscal Year 2025

Expenditures - Administrative (continued)	
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Insurance General Liability
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.

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 year.

Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	

Expenditures – Field

Electric - Street Lighting (80 poles)	
Costs from FPL associated with common area street lights	
Repairs and Maintenance	
Represents any general repairs and maintenance items to District property.	
Landscape Maintenance	
The district will contract a company to provide landscaping maintenance to the district areas.	
Drainage Clean Up	
The District will enter into a contract for the monthly maintenance of the District drainage system.	

Biscayne Drive Estates
Community Development District
Adopted Budget
Debt Service Series 2022 Special Assessment Bonds

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	4/30/24	5 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	276,907	$	265,176	$	11,732	$	276,907	$	272,287	
Interest Earnings	500	6,834	9,568	16,402	2,000	
Carry Forward Surplus (1)	254,321	117,692	136,629	254,321	270,024	

TOTAL REVENUES	$	531,729	$	389,702	$	157,929	$	547,631	$	544,311	

EXPENDITURES:

Interest - 12/15	$	109,581	$	108,831	$	-	$	108,831	$	107,456	
Interest - 6/15	55,000	-	55,000	55,000	55,000	
Principal - 6/15	109,581	-	109,581	109,581	107,456	

TOTAL EXPENDITURES	$	274,163	$	108,831	$	164,581	$	273,413	$	269,913	
Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	(4,194)	$	-	$	(4,194)	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	(4,194)	$	-	$	(4,194)	$	-	

TOTAL EXPENDITURES	$	274,163	$	113,025	$	164,581	$	277,607	$	269,913	

EXCESS REVENUES (EXPENDITURES)	$	257,566	$	276,677	$	(6,653)	$	270,024	$	274,398	

Interest Due 12/15/25		$106,081.25 	
	$106,081.25	

(1) Carry Forward is Net of Reserve Requirement

Biscayne Drive Estates
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2022 Special Assessment Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	3,690,000	5.000%	-	107,456	269,912.50	
06/15/25	3,690,000	5.000%	55,000	107,456		
12/15/25	3,635,000	5.000%	-	106,081	272,162.50	
06/15/26	3,635,000	5.000%	60,000	106,081		
12/15/26	3,575,000	5.000%	-	104,581	269,162.50	
06/15/27	3,575,000	5.000%	60,000	104,581		
12/15/27	3,515,000	5.000%	-	103,081	271,162.50	
06/15/28	3,515,000	5.000%	65,000	103,081		
12/15/28	3,450,000	5.000%	-	101,456	272,912.50	
06/15/29	3,450,000	5.000%	70,000	101,456		
12/15/29	3,380,000	5.000%	-	99,706	274,412.50	
06/15/30	3,380,000	5.750%	75,000	99,706		
12/15/30	3,305,000	5.750%	-	97,550	270,100.00	
06/15/31	3,305,000	5.750%	75,000	97,550		
12/15/31	3,230,000	5.750%	-	95,394	270,787.50	
06/15/32	3,230,000	5.750%	80,000	95,394		
12/15/32	3,150,000	5.750%	-	93,094	271,187.50	
06/15/33	3,150,000	5.750%	85,000	93,094		
12/15/33	3,065,000	5.750%	-	90,650	271,300.00	
06/15/34	3,065,000	5.750%	90,000	90,650		
12/15/34	2,975,000	5.750%	-	88,063	271,125.00	
06/15/35	2,975,000	5.750%	95,000	88,063		
12/15/35	2,880,000	5.750%	-	85,331	270,662.50	
06/15/36	2,880,000	5.750%	100,000	85,331		
12/15/36	2,780,000	5.750%	-	82,456	274,912.50	
06/15/37	2,780,000	5.750%	110,000	82,456		
12/15/37	2,670,000	5.750%	-	79,294	273,587.50	
06/15/38	2,670,000	5.750%	115,000	79,294		
12/15/38	2,555,000	5.750%	-	75,988	271,975.00	
06/15/39	2,555,000	5.750%	120,000	75,988		
12/15/39	2,435,000	5.750%	-	72,538	275,075.00	
06/15/40	2,435,000	5.750%	130,000	72,538		
12/15/40	2,305,000	5.750%	-	68,800	272,600.00	
06/15/41	2,305,000	5.750%	135,000	68,800		
12/15/41	2,170,000	5.750%	-	64,919	274,837.50	
06/15/42	2,170,000	5.750%	145,000	64,919		
12/15/42	2,025,000	5.750%	-	60,750	276,500.00	
06/15/43	2,025,000	6.000%	155,000	60,750		
12/15/43	1,870,000	6.000%	-	56,100	272,200.00	
06/15/44	1,870,000	6.000%	160,000	56,100		
12/15/44	1,710,000	6.000%	-	51,300	272,600.00	
06/15/45	1,710,000	6.000%	170,000	51,300		
12/15/45	1,540,000	6.000%	-	46,200	277,400.00	
06/15/46	1,540,000	6.000%	185,000	46,200		
12/15/46	1,355,000	6.000%	-	40,650	276,300.00	
06/15/47	1,355,000	6.000%	195,000	40,650		
12/15/47	1,160,000	6.000%	-	34,800	274,600.00	
06/15/48	1,160,000	6.000%	205,000	34,800		
12/15/48	955,000	6.000%	-	28,650	277,300.00	
06/15/49	955,000	6.000%	220,000	28,650		
12/15/49	735,000	6.000%	-	22,050	274,100.00	
06/15/50	735,000	6.000%	230,000	22,050		
12/15/50	505,000	6.000%	-	15,150	275,300.00	
06/15/51	505,000	6.000%	245,000	15,150		
12/15/51	260,000	6.000%	-	7,800	275,600.00	
06/15/52	260,000	6.000%	260,000	7,800		
Total			$3,690,000	$3,959,775	$7,649,775	

Biscayne Drive Estates
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighborhood	O&M Units	Bonds Units
2022	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	FY 2025	FY2024	Increase/ (decrease)	FY 2025	FY2024	Increase/ (decrease)	FY 2025	FY2024	Increase/ (decrease)	

Single Family	
148	
147	
$717.89	
$717.89	
$0.00	
$1,949.78	
$1,949.78	
$0.00	
$2,667.67	
$2,667.67	
$0.00	
Total	148	147										

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