Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
March 31, 2026

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2022	

5	
	Debt Service Fund Series 2024	

6-8	
	Month to Month	

9	
	Long Term Debt Report	

10	
	Assessment Receipt Schedule	

Balance Sheet March 31, 2026

	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	104,781	

$	-	

$	104,781	
Petty Cash	654	-	654	
Due from General Fund	-	262,585	262,585	
Investments:
State Board of Administration - Surplus	

1,237,419	

-	

1,237,419	
State Board of Administration - Field Reserves	230,585	-	230,585	
State Board of Administration - Clubhouse Reserves	192,225	-	192,225	
BankUnited Money Market	1,067,391	-	1,067,391	
Series 2022
Interest	

-	

109	

109	
Revenue	-	1,343,173	1,343,173	
Sinking	-	85	85	
Series 2024
Interest	

-	

111	

111	
Revenue	-	1,039,382	1,039,382	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,839,055	$	2,645,526	$	5,484,581	

Liabilities:				
Accounts Payable	$	6,277	$	-	$	6,277	
Due to Debt Service	262,585	-	262,585	
Total Liabilities	$	268,862	$	-	$	268,862	

Fund Balance:
Nonspendable:
Deposits	$	6,000	

$	-	$	6,000	
Restricted for: Debt Service	
-	
2,645,526	
2,645,526	
Unassigned	2,564,193	-	2,564,193	
Total Fund Balances	$	2,570,193	$	2,645,526	$	5,215,719	
				
Total Liabilities & Fund Balance	$	2,839,055	$	2,645,526	$	5,484,581	

	Adopted	Prorated Budget	Actual		
	Budget	Through 03/31/26	Through 03/31/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,794,376	$	1,686,019	$	(108,357)	
Interest Income	75,000	37,500	40,799	3,299	
Clubhouse Income	30,000	15,000	20,411	5,411	
Other Income	-	-	33,872	33,872	
Total Revenues	$	1,899,376	$	1,846,876	$	1,781,100	$	(65,776)	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	6,000	$	4,400	$	1,600	
FICA Taxes	918	-	459	337	122	
Engineering	16,000	8,000	3,069	4,931	
Attorney	47,000	23,500	12,553	10,948	
Annual Audit	4,300	2,150	4,300	(2,150)	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,200	550	650	
Dissemination Agent	5,500	2,750	2,750	0	
Trustee Fees	7,500	3,750	-	3,750	
Management Fees	72,491	36,246	36,246	0	
Website Maintenance	3,600	1,800	1,800	-	
Postage and Delivery	1,500	750	762	(12)	
Insurance General Liability	16,918	16,918	15,470	1,448	
Printing and Binding	750	375	11	364	
Legal Advertising	1,500	750	-	750	
Other Current Charges	1,000	500	468	32	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	194,352	$	107,323	$	84,889	$	22,434	

Operations and Maintenance					
Field Expenditures
Field Management	

$	32,759	

$	16,380	

$	16,380	

$	0	
Remote Gym and Entrance Road Video Surveillance (DML)	14,700	7,350	5,970	1,380	
General Maintenance	23,084	11,542	9,197	2,345	
Landscape Maintenance	186,001	93,001	93,001	(0)	
Landscape - Extra to Contract	50,000	25,000	12,563	12,437	
SFWMD Buffer Area Maintenance	-	-	28,602	(28,602)	
Mulch	23,000	23,000	27,802	(4,802)	
Tree Trimming	60,000	60,000	129,951	(69,951)	
Lake Maintenance	9,600	4,800	4,954	(154)	
Contingency	20,000	10,000	-	10,000	
Pressure Washing	20,000	16,225	16,225	-	
Culvert Cleaning/Inspection	20,000	20,000	20,650	(650)	
Holiday Decorations	38,276	38,276	32,193	6,083	
Cleaning Reserve Area	48,280	48,280	86,761	(38,481)	
Subtotal Field Expenditures	$	545,700	$	373,853	$	484,247	$	(110,394)	

	Adopted	Prorated Budget	Actual		
	Budget	Through 03/31/26	Through 03/31/26	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	69,000	$	69,000	$	-	
Security-Roving Guard	10,000	5,000	-	5,000	
Enhanced Security	15,000	7,500	-	7,500	
Transponders	8,500	4,250	-	4,250	
Management Fees	24,000	12,000	12,000	-	
Gate Access System Repairs and Maintenance	46,000	23,000	17,640	5,360	
Guardhouse Repairs and Maintenance	5,000	2,500	-	2,500	
Electric	4,000	2,000	1,197	803	
Water	1,500	750	144	606	
Phone and Internet Service	5,000	2,500	2,489	11	
Janitorial Services	600	300	300	-	
Subtotal Security Gate Service Expenditures	$	257,600	$	128,800	$	102,770	$	26,030	

Clubhouse Expenditures					
Alarm Monitoring	$	1,200	$	600	$	565	$	35	
Pool Video and Clubhouse Exterior Camera Surveillance (DML)	23,340	11,670	10,950	720	
Security - Roving Guard	8,000	4,000	975	3,025	
Air Conditioning Maint Contract and Repairs	10,000	5,000	7,624	(2,624)	
Fitness Equipment Maintenance and Repairs	8,000	4,000	4,302	(302)	
Electric	42,000	21,000	11,099	9,901	
Property Insurance	53,968	53,968	50,824	3,144	
Flood Insurance	19,039	19,039	18,760	279	
Janitorial Maintenance	60,600	30,300	30,300	-	
Janitorial Supplies	6,000	3,000	2,609	391	
Landscape Maintenance	32,508	16,254	16,254	-	
Landscape Replacement	10,000	5,000	-	5,000	
Office Equipment Maintenance	2,000	1,000	834	166	
Management Fees	302,304	151,152	151,152	-	
Office Supplies/Clubhouse Supplies	7,500	3,750	1,819	1,931	
Pest Control	1,000	500	390	110	
Pool and Spa Maintenance	39,000	19,500	21,000	(1,500)	
Pool Repairs	20,000	10,000	29,459	(19,459)	
Repairs and Maintenance	60,000	30,000	11,600	18,400	
Special Events	60,000	30,000	54,332	(24,332)	
Cable/Internet	6,300	3,150	2,982	168	
Trash Collection	1,500	1,500	1,442	58	
Water and Sewer	25,000	12,500	27,666	(15,166)	
Window Cleaning/Pressure Cleaning	3,500	1,750	2,053	(303)	
Holiday Decorations	31,724	31,724	28,025	3,699	
Contingency	10,000	10,000	31,800	(21,800)	
Capital Reserves	60,000	30,000	-	30,000	
Subtotal Clubhouse Expenditures	$	904,483	$	510,357	$	518,815	$	(8,458)	
					
Total Operations and Maintenance	$	1,707,783	$	1,013,010	$	1,105,833	$	(92,822)	
					
Total Expenditures	$	1,902,136	$	1,120,333	$	1,190,722	$	(70,389)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,760)	$	726,543	$	590,379	$	(136,164)	
					
Fund Balance - Beginning			$	1,979,814		
					
Fund Balance - Ending			$	2,570,193		

Revenues:					
Special Assessments - Tax Roll	$	1,382,295	$	1,382,295	$	1,298,822	$	(83,473)	
Interest Income	-	-	14,124	14,124	
Total Revenues	$	1,382,295	$	1,382,295	$	1,312,946	$	(69,349)	

Expenditures:					
Interest - 11/1	$	331,447	$	331,447	$	331,447	$	-	
Interest - 5/1	331,447	-	-	-	
Principal - 5/1	731,000	-	-	-	
Total Expenditures	$	1,393,893	$	331,447	$	331,447	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(11,598)	$	1,050,849	$	981,500	$	(69,349)	
					
Net Change in Fund Balance	$	(11,598)	$	1,050,849	$	981,500	$	(69,349)	
					
Fund Balance - Beginning			$	508,260		
					
Fund Balance - Ending			$	1,489,760		

Revenues:					
Special Assessments - Tax Roll	$	1,097,122	$	1,097,122	$	1,030,870	$	(66,252)	
Interest Income	1,000	500	10,197	9,697	
Total Revenues	$	1,098,122	$	1,097,622	$	1,041,066	$	(56,556)	

Expenditures:					
Interest - 11/1	$	197,500	$	197,500	$	197,500	$	-	
Interest - 5/1	197,500	-	-	-	
Principal - 5/1	710,000	-	-	-	
Total Expenditures	$	1,105,000	$	197,500	$	197,500	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(6,878)	$	900,122	$	843,566	$	(56,556)	
					
Net Change in Fund Balance	$	(6,878)	$	900,122	$	843,566	$	(56,556)	
					
Fund Balance - Beginning			$	312,199		
					
Fund Balance - Ending			$	1,155,766		

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:														
Special Assessments - Tax Roll	$	-	$ 243,763	$ 1,341,608  $	52,375  $	21,895  $	26,378	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,686,019	
Interest Income	5,897	4,722	5,643	8,475	7,618	8,444	-	-	-	-	-	-	40,799	
Clubhouse Income	-	14,690	-	-	5,006	715	-	-	-	-	-	-	20,411	
Other Income	1,200	600	-	-	1,894	30,178	-	-	-	-	-	-	33,872	
Total Revenues	$	7,097	$ 263,775	$ 1,347,250  $  60,850  $  36,413  $  65,715	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,781,100	

Expenditures:						
General and Administrative:						
Supervisor Fees	$	1,000	$	1,800	$	-	$	800  $	-	$	800	$	-	$	-	$	-	$	-	$	-	$	-	$	4,400	
FICA Taxes	77	138	-	61	-	61	-	-	-	-	-	-	337	
Engineering	2,124	-	-	-	439	506	-	-	-	-	-	-	3,069	
Attorney	3,665	2,640	500	3,383	2,365	-	-	-	-	-	-	-	12,553	
Annual Audit	-	-	-	-	-	4,300	-	-	-	-	-	-	4,300	
Assessment Roll Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Calculation	550	-	-	-	-	-	-	-	-	-	-	-	550	
Dissemination Agent	458	458	458	458	458	458	-	-	-	-	-	-	2,750	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	6,041	6,041	6,041	6,041	6,041	6,041	-	-	-	-	-	-	36,246	
Website Maintenance	300	300	300	300	300	300	-	-	-	-	-	-	1,800	
Postage and Delivery	177	104	79	90	115	198	-	-	-	-	-	-	762	
Insurance General Liability	15,470	-	-	-	-	-	-	-	-	-	-	-	15,470	
Printing and Binding	4	-	-	-	4	4	-	-	-	-	-	-	11	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	100	142	55	50	50	71	-	-	-	-	-	-	468	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	32,140	$	11,623	$	7,433  $	11,183  $	9,771  $	12,739	$	-	$	-	$	-	$	-	$	-	$	-	$	84,889	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Operations & Maintenance

Field Expenditures
Field Management	$	2,730  $	2,730  $	2,730  $	2,730  $	2,730	$	2,730	$	-	$	-	$	-	$	-	$	-	$	-	$  16,380	
Remote Gym and Entrance Road Video Surveillance (DM	995	995	995	995	995	995	-	-	-	-	-	-	5,970	
General Maintenance	954	-	-	988	3,625	3,630	-	-	-	-	-	-	9,197	
Landscape Maintenance	15,500	15,500	15,500	15,500	15,500	15,500	-	-	-	-	-	-	93,001	
Landscape - Extra to Contract	-	9,263	3,300	-	-	-	-	-	-	-	-	-	12,563	
SFWMD Buffer Area Maintenance	-	-	-	-	10,200	18,402	-	-	-	-	-	-	28,602	
Mulch	-	27,802	-	-	-	-	-	-	-	-	-	-	27,802	
Tree Trimming	58,075	-	71,876	-	-	-	-	-	-	-	-	-	129,951	
Lake Maintenance	800	800	954	800	800	800	-	-	-	-	-	-	4,954	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pressure Washing	-	16,225	-	-	-	-	-	-	-	-	-	-	16,225	
Culvert Cleaning/Inspection	2,150	-	-	-	18,500	-	-	-	-	-	-	-	20,650	
Reserves	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Decorations	16,301	-	8,151	7,741	-	-	-	-	-	-	-	-	32,193	
Cleaning Reserve Area	954	75,606	10,200	-	-	-	-	-	-	-	-	-	86,761	
Subtotal Field Expenditures	$  98,460	$ 148,921	$ 113,707	$  28,753	$  52,350	$  42,056	$	-  $	-  $	-  $	-  $	-  $	-  $ 484,247	

Security Gate Service Expenditures
Security (DML)	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$	-	$	-	$	-	$	-	$	-	$	-	$  69,000	
Security-Roving Guard	-	-	-	-	-	-	-	-	-	-	-	-	-	
Enhanced Security	-	-	-	-	-	-	-	-	-	-	-	-	-	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	2,000	2,000	-	-	-	-	-	-	12,000	
Gate Access System Repairs and Maintenance	1,963	2,149	3,892	2,801	3,707	3,129	-	-	-	-	-	-	17,640	
Guardhouse Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	266	277	271	207	176	-	-	-	-	-	-	-	1,197	
Water	34	35	39	36	-	-	-	-	-	-	-	-	144	
Phone and Internet Service	397	397	417	422	427	427	-	-	-	-	-	-	2,489	
Computer, Equipment and Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Janitorial Services	50	50	50	50	50	50	-	-	-	-	-	-	300	
Contingency		-		-		-		-		-		-		-			-			-			-			-			-			-	
Subtotal Security Gate Service Expenditures	$	16,211	$	16,408	$	18,168	$	17,017	$	17,860	$	17,106	$		-	$		-	$		-	$		-	$		-	$		-	$	102,770	

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Clubhouse Expenditures																				
Alarm Monitoring	$	270	$	-	$	-	$	270	$	25	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	565	
Pool Video and Clubhouse Exterior Camera Surveillance	1,945	1,945	1,945	1,225	1,945	1,945	-		-		-		-		-		-		10,950	
Security - Roving Guard	-	555	150	-	-	270	-		-		-		-		-		-		975	
Air Conditioning Maint Contract and Repairs	606	1,140	490	1,344	646	3,397	-		-		-		-		-		-		7,624	
Fitness Equipment Maintenance and Repairs	513	905	190	1,079	968	647	-		-		-		-		-		-		4,302	
Electric	2,784	2,050	3,024	3,240	-	-	-		-		-		-		-		-		11,099	
Property Insurance	50,824	-	-	-	-	-	-		-		-		-		-		-		50,824	
Flood Insurance	18,760	-	-	-	-	-	-		-		-		-		-		-		18,760	
Janitorial Maintenance	5,050	5,050	5,050	5,050	5,050	5,050	-		-		-		-		-		-		30,300	
Janitorial Supplies	758	334	106	800	358	254	-		-		-		-		-		-		2,609	
Landscape Maintenance	2,709	2,709	2,709	2,709	2,709	2,709	-		-		-		-		-		-		16,254	
Landscape Replacement	-	-	-	-	-	-	-		-		-		-		-		-		-	
Office Equipment Maintenance	137	148	137	137	137	137	-		-		-		-		-		-		834	
Management Fees	25,192	25,192	25,192	25,192	25,192	25,192	-		-		-		-		-		-		151,152	
Office Supplies/Clubhouse Supplies	138	135	365	686	495	-	-		-		-		-		-		-		1,819	
Pest Control	65	65	65	65	65	65	-		-		-		-		-		-		390	
Pool and Spa Maintenance	3,500	3,500	3,500	3,500	3,500	3,500	-		-		-		-		-		-		21,000	
Pool Repairs	16,048	6,625	3,576	3,210	-	-	-		-		-		-		-		-		29,459	
Repairs and Maintenance	2,204	851	2,211	1,824	2,369	2,141	-		-		-		-		-		-		11,600	
Special Events	14,141	11,161	8,915	5,547	2,548	12,020	-		-		-		-		-		-		54,332	
Cable/Internet	417	376	652	440	433	664	-		-		-		-		-		-		2,982	
Trash Collection	-	-	1,442	-	-	-	-		-		-		-		-		-		1,442	
Water and Sewer	21,674	-	-	-	5,992	-	-		-		-		-		-		-		27,666	
Window Cleaning/Pressure Cleaning	-	-	1,076	-	489	489	-		-		-		-		-		-		2,053	
Holiday Decorations	14,620	-	6,756	6,649	-	-	-		-		-		-		-		-		28,025	
Contingency	-	31,800	-	-	-	-	-		-		-		-		-		-		31,800	
Capital Reserves	-	-	-	-	-	-	-		-		-		-		-		-		-	
Subtotal Clubhouse Expenditures	$ 182,356	$	94,540	$	67,550	$	62,968	$	52,921	$	58,480  $	-  $	-  $	-  $	-  $	-  $	-	$	518,815	
																				
Total Operations & Maintenance	$ 297,027	$ 259,869	$	199,425	$ 108,738	$ 123,132	$ 117,642  $	-  $	-  $	-  $	-  $	-  $	-	$ 1,105,833	
															
Total Expenditures	$ 329,167	$ 271,492	$	206,858	$ 119,921	$ 132,903	$ 130,381  $	-  $	-  $	-  $	-  $	-  $	-	$ 1,190,722	
															
Excess (Deficiency) of Revenues over Expenditures	$ (322,070)	$  (7,717)	$ 1,140,392	$ (59,071)	$ (96,490)	$ (64,666)  $		-  $		-  $		-  $		-  $		-  $		-	$ 590,379	
																				
Net Change in Fund Balance	$ (322,070)	$  (7,717)	$ 1,140,392	$ (59,071)	$ (96,490)	$ (64,666) $		-  $		-  $		-  $		-  $		-  $		-	$ 590,379	

Lakes by the Bay South
Community Development District Long Term Debt Report

Original Amount:

Interest Rate: Maturity Date:

Bonds Outstanding - 9/30/25 Less:	Series 2022, Special Assessment Refunding Bonds

$19,254,000

3.85%
5/1/2042

May 1, 2026 (Mandatory)	

$17,218,000
-	
Current Bonds Outstanding	$17,218,000	

Original Amount:

Interest Rate: Maturity Date:

Bonds Outstanding - 9/30/25 Less:	Series 2024, Special Assessment Refunding Bonds

$8,585,000

5.00%
5/1/2034

May 1, 2026 (Mandatory)	

$7,900,000
-	
Current Bonds Outstanding	$7,900,000	

Total Current Bonds Outstanding	$25,118,000

Lakes by the Bay South
COMMUNITY DEVELOPMENT DISTRICT

	Gross Assessments	$	1,888,817.16	$  1,455,047.67	$  1,154,865.39	$	4,498,730.22	
	Net Assessments	$	1,794,376.30	$  1,382,295.29	$  1,097,122.12	$	4,273,793.71	
ON ROLL ASSESSMENTS	
Allocation in %	
41.99%	
32.34%	
25.67%	
100.00%	

Special Assessment Receipts - Miami-Dade County

Date	Distribution	Gross Amount	Discount/ Penalty	Commission	Interest	Net Receipts	O&M Portion	2022 Debt Service	2024 Debt Service	Total	

11/10/25	
10/1/25-10/31/25	
$	16,137.17	
$	640.24	
$	154.96	
$	104.35	
$	15,446.32	
$	6,485.22	
$	4,995.88	
$	3,965.21	
$	15,446.31	
11/17/25	11/1/25-11/10/25	254,383.66	10,175.32	2,442.09	-	241,766.25	101,506.92	78,195.71	62,063.62	241,766.25	
11/25/25	6/1/25-10/31/25	41,552.96	1,996.20	395.57	-	39,161.19	16,442.05	12,666.11	10,053.04	39,161.20	
11/28/25	11/11/25-11/20/25	299,046.96	11,961.83	2,870.85	-	284,214.28	119,328.96	91,924.90	72,960.42	284,214.28	
12/05/25	11/21/25-11/30/25	3,138,063.58	125,518.87	30,125.45	83.04	2,982,502.30	1,252,220.35	964,646.20	765,635.75	2,982,502.30	
12/24/25	12/1/25-12/15/25	223,360.55	8,309.51	2,150.50	-	212,900.54	89,387.49	68,859.53	54,653.53	212,900.55	
01/09/26	12/16/25-12/31/25	125,389.77	3,653.38	1,218.07	70.74	120,589.06	50,629.99	39,002.75	30,956.32	120,589.06	
01/26/26	INTEREST	-	-	-	4,155.39	4,155.39	1,744.66	1,344.00	1,066.73	4,155.39	
02/11/26	1/1/26-1/31/26	53,730.39	1,115.09	526.78	60.53	52,149.05	21,895.07	16,866.84	13,387.14	52,149.05	
03/11/26	2/1/26-2/28/26	64,112.38	703.98	634.61	52.43	62,826.22	26,377.94	20,320.21	16,128.07	62,826.22	
	TOTAL	$	4,215,777.42	$	164,074.42	$	40,518.88	$	4,526.48	$	4,015,710.60	$	1,686,018.65	$  1,298,822.13	$  1,030,869.83	$	4,015,710.61	

$

93.71%
282,952.80

Percent Collected Balance Remaining to Collect