Title: Proposed Budget-FY2024.xlsx - Group
Author: Gms

Biscayne Drive Estates
Community Development District

Adopted Budget
FY 2027

Table of Contents

1-2		General Fund

	Narratives

	Debt Service Fund Series 2022

	Series 2022 Amortization Schedule

	Assessment Schedule

Biscayne Drive Estates
Community Development District
Adopted Budget
General Fund

Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description	FY2026 | 5/31/26 | 4 Months | 9/30/26 | FY 2027

REVENUES:

Special Assessments - On Roll | $	100,935 | $	97,978 | $	2,957 | $	100,935 | $	161,334
Interest Income | 6,000 | 5,174 | 2,587 | 7,761 | 6,000
Devloper Contributions | 31,200 | 31,666 | - | 31,666 | -
Carry Forward Surplus | 8,760 | 2,889 | 8,760 | 11,649 | 10,000

TOTAL REVENUES | $	146,895 | $	137,708 | $	14,304 | $	152,012 | $  177,335
EXPENDITURES:

Administrative | | | | |
Engineering | $	5,000 | $	686 | $	343 | $	1,029 | $	5,000
Attorney | 12,000 | 7,610 | 5,436 | 13,046 | 12,000
Annual Audit | 5,500 | 5,500 | - | 5,500 | 5,600
Assessment Administration | 2,000 | 2,000 | - | 2,000 | 2,000
Arbitrage Rebate | 1,200 | - | 600 | 600 | 600
Dissemination Agent | 1,260 | 840 | 420 | 1,260 | 1,260
Trustee Fees | 4,500 | 4,445 | - | 4,445 | 4,500
Management Fees | 30,000 | 20,000 | 10,000 | 30,000 | 31,800
Information Technology | 1,200 | 800 | 400 | 1,200 | 1,200
Website Maintenance | 1,200 | 800 | 400 | 1,200 | 1,200
Postage & Delivery | 200 | 5 | 3 | 8 | 200
Insurance General Liability | 6,600 | 5,732 | - | 5,732 | 6,600
Printing & Binding | 200 | 7 | 4 | 11 | 200
Legal Advertising | 2,500 | 3,435 | 1,717 | 5,152 | 2,500
Other Current Charges | 300 | 575 | 287 | 862 | 800
Dues, Licenses & Subscriptions | 175 | 175 | - | 175 | 175
TOTAL ADMINISTRATIVE | $	73,835 | $	52,610 | $	19,610 | $	72,219 | $	75,635

Biscayne Drive Estates
Community Development District
Adopted Budget
General Fund

Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description	FY2026 | 5/31/26 | 4 Months | 9/30/26 | FY 2027

Operations & Maintenance | | | | |
Field Expenditures | | | | |
Electric - Street Lighting | $	36,000 | $	24,532 | $	12,266 | $	36,799 | $	36,000
Repairs and Maintenance | 2,500 | - | 833 | 833 | 2,500
Landscape Maintenance | 31,200 | 19,200 | 9,600 | 28,800 | 31,200
Mail Kiosk | - | - | - | - | 2,000
Resurfacing Roads | - | - | - | - | 10,000
Stormwater Drainage | 3,360 | - | 3,360 | 3,360 | 10,000
Contingencies | - | - | - | - | 10,000
TOTAL FIELD EXPENDITURES | $	73,060 | $	43,732 | $	26,060 | $	69,792 | $  101,700

TOTAL EXPENDITURES | $	146,895 | $	96,342 | $	45,669 | $	142,011 | $  177,335

EXCESS REVENUES (EXPENDITURES) | $	0 | $	41,366 | $	(31,365) | $	10,000 | $	-

Gross Assessments
Less: Discounts & Collections 5%
Net Assessments

$	169,826
(8,491)
$  161,334

Product

Assessable Units

Total Gross Assessment

FY26
Gross Per Unit

FY27
Gross Per Unit

Increase/ (Decrease)

Single Family | 148 | $	169,825.56 | $	717.89 | $	1,147.47 | $	429.58

Total | 148 | $  169,825.56

Biscayne Drive Estates
Community Development District
Budget Narrative

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.
Interest Income
The District earns interest on the monthly average collected balance for each of their State Board accounts.

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.
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.

Biscayne Drive Estates
Community Development District
Budget Narrative

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 contracted Tony's Nursery & Garden 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.
Mail Kiosk
Represents any repairs and maintenance to the mail kiosk area within the District.
Resurfacing Roads
Represents the repairs and maintenance to all roads within the District,
Stormwater Drainage
Represents any expenditures not mentioned above during the Fiscal Year.
Contingencies
Annual Storm Drain Cleaning for all Storm Drains throughout the District.

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	FY2026 | 5/31/26 | 4 Months | 9/30/26 | FY 2027

REVENUES:

Special Assessments-On Roll | $	272,287 | $	264,201 | $	8,086 | $	272,287 | $	272,287
Interest Earnings | 2,000 | 8,512 | 4,256 | 12,768 | 8,000
Carry Forward Surplus ^(1) | 138,456 | 137,723 | - | 137,723 | 145,641

TOTAL REVENUES | $	412,743 | $	410,436 | $	12,341 | $	422,777 | $	425,927

EXPENDITURES:

Interest - 12/15 | $	106,081 | $	106,081 | $	- | $	106,081 | $	104,581
Principal - 6/15 | 60,000 | - | 60,000 | 60,000 | 60,000
Interest - 6/15 | 106,081 | - | 106,081 | 106,081 | 104,581

TOTAL EXPENDITURES | $	272,163 | $	106,081 | $	166,081 | $	272,163 | $	269,163
Other Sources/(Uses)

Interfund transfer In/(Out) | $	- | $	(3,316) | $	(1,658) | $	(4,974) | $	-

TOTAL OTHER SOURCES/(USES) | $	- | $	(3,316) | $	(1,658) | $	(4,974) | $	-

TOTAL EXPENDITURES | $	272,163 | $	109,398 | $	167,739 | $	277,137 | $	269,163

EXCESS REVENUES (EXPENDITURES) | $	140,580 | $	301,038 | $	(155,398) | $	145,641 | $	156,765

Interest Due 12/15/27 | $103,081.25
| $103,081.25

^(1) Carry Forward is Net of Reserve Requirement

Gross Assessments
Less: Discounts & Collections 5%
Net Assessments

$	286,618
(14,331)
$	272,287

Product

Assessable Units

Total Gross Assessment

FY26
Gross Per Unit

FY27
Gross Per Unit

Increase/ (Decrease)

Single Family | 147 | $	286,617.66 | $	1,949.78 | $	1,949.78 | $	-

Total | 147 | $	286,617.66

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

Period | Outstanding Balance | Coupons | Principal | Interest | Annual Debt Service

12/15/25 | 3,635,000 | 5.000% | - | 106,081 | 268,537.50
06/15/26 | 3,635,000 | 5.000% | 60,000 | 106,081 |
12/15/26 | 3,575,000 | 5.000% | - | 104,581 | 270,662.50
06/15/27 | 3,575,000 | 5.000% | 60,000 | 104,581 |
12/15/27 | 3,515,000 | 5.000% | - | 103,081 | 267,662.50
06/15/28 | 3,515,000 | 5.000% | 65,000 | 103,081 |
12/15/28 | 3,450,000 | 5.000% | - | 101,456 | 269,537.50
06/15/29 | 3,450,000 | 5.000% | 70,000 | 101,456 |
12/15/29 | 3,380,000 | 5.000% | - | 99,706 | 271,162.50
06/15/30 | 3,380,000 | 5.750% | 75,000 | 99,706 |
12/15/30 | 3,305,000 | 5.750% | - | 97,550 | 272,256.25
06/15/31 | 3,305,000 | 5.750% | 75,000 | 97,550 |
12/15/31 | 3,230,000 | 5.750% | - | 95,394 | 267,943.75
06/15/32 | 3,230,000 | 5.750% | 80,000 | 95,394 |
12/15/32 | 3,150,000 | 5.750% | - | 93,094 | 268,487.50
06/15/33 | 3,150,000 | 5.750% | 85,000 | 93,094 |
12/15/33 | 3,065,000 | 5.750% | - | 90,650 | 268,743.75
06/15/34 | 3,065,000 | 5.750% | 90,000 | 90,650 |
12/15/34 | 2,975,000 | 5.750% | - | 88,063 | 268,712.50
06/15/35 | 2,975,000 | 5.750% | 95,000 | 88,063 |
12/15/35 | 2,880,000 | 5.750% | - | 85,331 | 268,393.75
06/15/36 | 2,880,000 | 5.750% | 100,000 | 85,331 |
12/15/36 | 2,780,000 | 5.750% | - | 82,456 | 267,787.50
06/15/37 | 2,780,000 | 5.750% | 110,000 | 82,456 |
12/15/37 | 2,670,000 | 5.750% | - | 79,294 | 271,750.00
06/15/38 | 2,670,000 | 5.750% | 115,000 | 79,294 |
12/15/38 | 2,555,000 | 5.750% | - | 75,988 | 270,281.25
06/15/39 | 2,555,000 | 5.750% | 120,000 | 75,988 |
12/15/39 | 2,435,000 | 5.750% | - | 72,538 | 268,525.00
06/15/40 | 2,435,000 | 5.750% | 130,000 | 72,538 |
12/15/40 | 2,305,000 | 5.750% | - | 68,800 | 271,337.50
06/15/41 | 2,305,000 | 5.750% | 135,000 | 68,800 |
12/15/41 | 2,170,000 | 5.750% | - | 64,919 | 268,718.75
06/15/42 | 2,170,000 | 5.750% | 145,000 | 64,919 |
12/15/42 | 2,025,000 | 5.750% | - | 60,750 | 270,668.75
06/15/43 | 2,025,000 | 6.000% | 155,000 | 60,750 |
12/15/43 | 1,870,000 | 6.000% | - | 56,100 | 271,850.00
06/15/44 | 1,870,000 | 6.000% | 160,000 | 56,100 |
12/15/44 | 1,710,000 | 6.000% | - | 51,300 | 267,400.00
06/15/45 | 1,710,000 | 6.000% | 170,000 | 51,300 |
12/15/45 | 1,540,000 | 6.000% | - | 46,200 | 267,500.00
06/15/46 | 1,540,000 | 6.000% | 185,000 | 46,200 |
12/15/46 | 1,355,000 | 6.000% | - | 40,650 | 271,850.00
06/15/47 | 1,355,000 | 6.000% | 195,000 | 40,650 |
12/15/47 | 1,160,000 | 6.000% | - | 34,800 | 270,450.00
06/15/48 | 1,160,000 | 6.000% | 205,000 | 34,800 |
12/15/48 | 955,000 | 6.000% | - | 28,650 | 268,450.00
06/15/49 | 955,000 | 6.000% | 220,000 | 28,650 |
12/15/49 | 735,000 | 6.000% | - | 22,050 | 270,700.00
06/15/50 | 735,000 | 6.000% | 230,000 | 22,050 |
12/15/50 | 505,000 | 6.000% | - | 15,150 | 267,200.00
06/15/51 | 505,000 | 6.000% | 245,000 | 15,150 |
12/15/51 | 260,000 | 6.000% | - | 7,800 | 267,950.00
06/15/52 | 260,000 | 6.000% | 260,000 | 7,800 | 267,800.00
Total | | | $3,635,000 | $3,744,863 | $7,379,863

Biscayne Drive Estates
Community Development District
Non-Ad Valorem Assessments Comparison
2026-2027

Neighborhood

O&M Units

Bonds Units
2022

Annual Maintenance Assessments

Annual Debt Assessments

Total Assessed Per Unit

| FY 2027 | FY2026 | Increase/ (decrease) | FY 2027 | FY2026 | Increase/ (decrease) | FY 2027 | FY2026 | Increase/ (decrease)
Single Family | 148 | 147 | $1,147.47 | $717.89 | $429.58 | $1,949.78 | $1,949.78 | $0.00 | $3,097.25 | $2,667.67 | $429.58
Total	148	147 | | | | | | | | |

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