Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
January 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 January 31, 2026

	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	232,569	

$	-	

$	232,569	
Petty Cash	654	-	654	
Due from General Fund	-	195,883	195,883	
Investments:
State Board of Administration - Surplus	

1,229,793	

-	

1,229,793	
State Board of Administration - Field Reserves	229,164	-	229,164	
State Board of Administration - Clubhouse Reserves	191,040	-	191,040	
BankUnited Money Market	1,061,661	-	1,061,661	
Series 2022
Interest	

-	

108	

108	
Revenue	-	1,335,458	1,335,458	
Sinking	-	84	84	
Series 2024
Interest	

-	

110	

110	
Revenue	-	1,033,444	1,033,444	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,950,883	$	2,565,169	$	5,516,051	

Liabilities:				
Accounts Payable	$	12,721	$	-	$	12,721	
Due to Debt Service	195,883	-	195,883	
Total Liabilities	$	208,603	$	-	$	208,603	

Fund Balance:
Nonspendable:
Deposits	$	6,000	

$	-	$	6,000	
Restricted for: Debt Service	
-	
2,565,169	
2,565,169	
Unassigned	2,736,279	-	2,736,279	
Total Fund Balances	$	2,742,279	$	2,565,169	$	5,307,448	
				
Total Liabilities & Fund Balance	$	2,950,883	$	2,565,169	$	5,516,051	

	Adopted	Prorated Budget	Actual		
	Budget	Through 01/31/26	Through 01/31/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,076,626	$	1,637,746	$	561,120	
Interest Income	75,000	25,000	24,737	(263)	
Clubhouse Income	30,000	10,000	14,690	4,690	
Other Income	-	-	1,800	1,800	
Total Revenues	$	1,899,376	$	1,111,626	$	1,678,973	$	567,347	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	4,000	$	3,600	$	400	
FICA Taxes	918	-	306	275	31	
Engineering	16,000	5,333	2,124	3,210	
Attorney	47,000	15,667	6,805	8,862	
Annual Audit	4,300	1,433	-	1,433	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,200	550	650	
Dissemination Agent	5,500	1,833	1,833	0	
Trustee Fees	7,500	2,500	-	2,500	
Management Fees	72,491	24,164	24,164	0	
Website Maintenance	3,600	1,200	1,200	-	
Postage and Delivery	1,500	500	450	50	
Insurance General Liability	16,918	16,918	15,470	1,448	
Printing and Binding	750	250	4	246	
Legal Advertising	1,500	500	-	500	
Other Current Charges	1,000	333	347	(14)	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	194,352	$	78,313	$	58,997	$	19,316	

Operations and Maintenance					
Field Expenditures
Field Management	

$	32,759	

$	10,920	

$	10,920	

$	0	
Security	14,700	4,900	4,900	-	
General Maintenance	23,084	7,695	1,942	5,753	
Landscape Maintenance	186,001	62,000	62,000	(0)	
Landscape - Extra to Contract	50,000	16,667	12,563	4,103	
Mulch	23,000	23,000	27,802	(4,802)	
Tree Trimming	60,000	60,000	140,152	(80,152)	
Lake Maintenance	9,600	3,200	3,354	(154)	
Contingency	20,000	6,667	-	6,667	
Pressure Washing	20,000	16,225	16,225	-	
Culvert Cleaning/Inspection	20,000	6,667	2,150	4,517	
Holiday Decorations	38,276	38,276	32,193	6,083	
Cleaning Reserve Area	48,280	48,280	76,561	(28,281)	
Subtotal Field Expenditures	$	545,700	$	304,496	$	390,761	$	(86,265)	

	Adopted	Prorated Budget	Actual		
	Budget	Through 01/31/26	Through 01/31/26	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	46,000	$	46,000	$	-	
Security-Roving Guard	10,000	3,333	-	3,333	
Enhanced Security	15,000	5,000	-	5,000	
Transponders	8,500	2,833	-	2,833	
Management Fees	24,000	8,000	8,000	-	
Gate Repairs and Maintenance	46,000	15,333	10,804	4,529	
Building Repairs and Maintenance	5,000	1,667	-	1,667	
Electric	4,000	1,333	814	520	
Water	1,500	500	108	392	
Phone and Internet Service	5,000	1,667	1,634	32	
Janitorial Services	600	200	200	-	
Subtotal Security Gate Service Expenditures	$	257,600	$	85,867	$	67,560	$	18,307	

Clubhouse Expenditures					
Alarm Monitoring	$	1,200	$	600	$	540	$	60	
Club Exterior Camera Monitoring	8,640	2,880	2,160	720	
Pool Monitoring	11,940	3,980	3,980	-	
Security - Roving Guard	8,000	2,667	705	1,962	
Air Conditioning Maint Contract and Repairs	10,000	3,333	2,726	607	
Fitness Equipment Maintenance and Repairs	8,000	2,667	2,687	(20)	
Electric	42,000	14,000	7,859	6,141	
Property Insurance	53,968	53,968	50,824	3,144	
Flood Insurance	19,039	19,039	18,760	279	
Janitorial Maintenance	60,600	20,200	20,200	-	
Janitorial Supplies	6,000	2,000	1,997	3	
Landscape Maintenance	32,508	10,836	10,836	-	
Landscape Replacement	10,000	3,333	-	3,333	
Office Equipment Maintenance	2,000	667	560	107	
Management Fees	302,304	100,768	100,768	-	
Office Supplies/Clubhouse Supplies	7,500	2,500	1,324	1,176	
Pest Control	1,000	333	260	73	
Pool and Spa Maintenance	39,000	13,000	14,000	(1,000)	
Pool Repairs	20,000	6,667	26,249	(19,582)	
Repairs and Maintenance	60,000	20,000	7,090	12,910	
Special Events	60,000	20,000	39,764	(19,764)	
Cable/Internet	6,300	2,100	1,885	215	
Trash Collection	1,500	1,500	1,442	58	
Water and Sewer	25,000	8,333	21,674	(13,341)	
Window Cleaning/Pressure Cleaning	3,500	1,167	1,076	91	
Holiday Decorations	31,724	31,724	28,025	3,699	
Contingency	10,000	10,000	31,800	(21,800)	
Capital Reserve	60,000	20,000	-	20,000	
Subtotal Clubhouse Expenditures	$	901,723	$	378,262	$	399,190	$	(20,928)	
					
Total Operations and Maintenance	$	1,705,023	$	768,624	$	857,511	$	(88,887)	
					
Total Expenditures	$	1,899,376	$	846,937	$	916,508	$	(69,571)	
					
Excess (Deficiency) of Revenues over Expenditures	$	0	$	264,689	$	762,465	$	497,776	
					
Fund Balance - Beginning			$	1,979,814		
					
Fund Balance - Ending			$	2,742,279		

Revenues:					
Special Assessments - Tax Roll	$	1,382,295	$	829,377	$	1,261,635	$	432,258	
Interest Income	-	-	6,408	6,408	
Total Revenues	$	1,382,295	$	829,377	$	1,268,043	$	438,666	

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)	$	497,931	$	936,597	$	438,666	
					
Net Change in Fund Balance	$	(11,598)	$	497,931	$	936,597	$	438,666	
					
Fund Balance - Beginning			$	508,260		
					
Fund Balance - Ending			$	1,444,857		

Revenues:					
Special Assessments - Tax Roll	$	1,097,122	$	658,273	$	1,001,355	$	343,081	
Interest Income	1,000	333	4,258	3,924	
Total Revenues	$	1,098,122	$	658,607	$	1,005,612	$	347,006	

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)	$	461,107	$	808,112	$	347,006	
					
Net Change in Fund Balance	$	(6,878)	$	461,107	$	808,112	$	347,006	
					
Fund Balance - Beginning			$	312,199		
					
Fund Balance - Ending			$	1,120,311		

	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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,637,746	
Interest Income	5,897	4,722	5,643	8,475	-	-	-	-	-	-	-	-	24,737	
Clubhouse Income	-	14,690	-	-	-	-	-	-	-	-	-	-	14,690	
Other Income	1,200	600	-	-	-	-	-	-	-	-	-	-	1,800	
Total Revenues	$	7,097	$ 263,775	$ 1,347,250  $  60,850	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,678,973	

Expenditures:						
General and Administrative:						
Supervisor Fees	$	1,000	$	1,800	$	-	$	800	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	3,600	
FICA Taxes	77	138	-	61	-	-	-	-	-	-	-	-	275	
Engineering	2,124	-	-	-	-	-	-	-	-	-	-	-	2,124	
Attorney	3,665	2,640	500	-	-	-	-	-	-	-	-	-	6,805	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Roll Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Calculation	550	-	-	-	-	-	-	-	-	-	-	-	550	
Dissemination Agent	458	458	458	458	-	-	-	-	-	-	-	-	1,833	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	6,041	6,041	6,041	6,041	-	-	-	-	-	-	-	-	24,164	
Website Maintenance	300	300	300	300	-	-	-	-	-	-	-	-	1,200	
Postage and Delivery	177	104	79	90	-	-	-	-	-	-	-	-	450	
Insurance General Liability	15,470	-	-	-	-	-	-	-	-	-	-	-	15,470	
Printing and Binding	4	-	-	-	-	-	-	-	-	-	-	-	4	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	100	142	55	50	-	-	-	-	-	-	-	-	347	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	32,140	$	11,623	$	7,433  $	7,800	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	58,997	

	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	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	$  10,920	
Security	1,225	1,225	1,225	1,225	-	-	-	-	-	-	-	-	4,900	
General Maintenance	954	-	-	988	-	-	-	-	-	-	-	-	1,942	
Landscape Maintenance	15,500	15,500	15,500	15,500	-	-	-	-	-	-	-	-	62,000	
Landscape - Extra to Contract	-	9,263	3,300	-	-	-	-	-	-	-	-	-	12,563	
SFWMD Buffer Area Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Mulch	-	27,802	-	-	-	-	-	-	-	-	-	-	27,802	
Tree Trimming	58,075	-	82,077	-	-	-	-	-	-	-	-	-	140,152	
Lake Maintenance	800	800	954	800	-	-	-	-	-	-	-	-	3,354	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pressure Washing	-	16,225	-	-	-	-	-	-	-	-	-	-	16,225	
Culvert Cleaning/Inspection	2,150	-	-	-	-	-	-	-	-	-	-	-	2,150	
Reserves	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Decorations	16,301	-	8,151	7,741	-	-	-	-	-	-	-	-	32,193	
Cleaning Reserve Area	954	75,606	-	-	-	-	-	-	-	-	-	-	76,561	
Subtotal Field Expenditures	$  98,690	$ 149,151	$ 113,937	$  28,983	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 390,761	

Security Gate Service Expenditures
Security (DML)	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  46,000	
Security-Roving Guard	-	-	-	-	-	-	-	-	-	-	-	-	-	
Enhanced Security	-	-	-	-	-	-	-	-	-	-	-	-	-	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	-	-	-	-	-	-	-	-	8,000	
Gate Repairs and Maintenance	1,963	2,149	3,892	2,801	-	-	-	-	-	-	-	-	10,804	
Building Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	266	277	271	-	-	-	-	-	-	-	-	-	814	
Water	34	35	39	-	-	-	-	-	-	-	-	-	108	
Phone and Internet Service	397	397	417	422	-	-	-	-	-	-	-	-	1,634	
Computer, Equipment and Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Janitorial Services	50	50	50	50	-	-	-	-	-	-	-	-	200	
Contingency		-		-		-		-		-			-			-			-			-			-			-			-			-	
Subtotal Security Gate Service Expenditures	$	16,211	$	16,408	$	18,168	$	16,773	$		-	$		-	$		-	$		-	$		-	$		-	$		-	$		-	$	67,560	

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

Clubhouse Expenditures																						
Alarm Monitoring	$	270	$	-	$	-	$	270  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	540	
Club Exterior Camera Monitoring	720	720	720	-	-		-		-		-		-		-		-		-		2,160	
Pool Monitoring	995	995	995	995	-		-		-		-		-		-		-		-		3,980	
Security - Roving Guard	-	555	150	-	-		-		-		-		-		-		-		-		705	
Air Conditioning Maint Contract and Repairs	606	1,140	490	490	-		-		-		-		-		-		-		-		2,726	
Fitness Equipment Maintenance and Repairs	513	905	190	1,079	-		-		-		-		-		-		-		-		2,687	
Electric	2,784	2,050	3,024	-	-		-		-		-		-		-		-		-		7,859	
Property Insurance	50,824	-	-	-	-		-		-		-		-		-		-		-		50,824	
Flood Insurance	18,760	-	-	-	-		-		-		-		-		-		-		-		18,760	
Janitorial Maintenance	5,050	5,050	5,050	5,050	-		-		-		-		-		-		-		-		20,200	
Janitorial Supplies	758	334	106	800	-		-		-		-		-		-		-		-		1,997	
Landscape Maintenance	2,709	2,709	2,709	2,709	-		-		-		-		-		-		-		-		10,836	
Landscape Replacement	-	-	-	-	-		-		-		-		-		-		-		-		-	
Office Equipment Maintenance	137	148	137	137	-		-		-		-		-		-		-		-		560	
Management Fees	25,192	25,192	25,192	25,192	-		-		-		-		-		-		-		-		100,768	
Office Supplies/Clubhouse Supplies	138	135	365	686	-		-		-		-		-		-		-		-		1,324	
Pest Control	65	65	65	65	-		-		-		-		-		-		-		-		260	
Pool and Spa Maintenance	3,500	3,500	3,500	3,500	-		-		-		-		-		-		-		-		14,000	
Pool Repairs	16,048	6,625	3,576	-	-		-		-		-		-		-		-		-		26,249	
Repairs and Maintenance	2,204	851	2,211	1,824	-		-		-		-		-		-		-		-		7,090	
Special Events	14,141	11,161	8,915	5,547	-		-		-		-		-		-		-		-		39,764	
Cable/Internet	417	376	652	440	-		-		-		-		-		-		-		-		1,885	
Trash Collection	-	-	1,442	-	-		-		-		-		-		-		-		-		1,442	
Water and Sewer	21,674	-	-	-	-		-		-		-		-		-		-		-		21,674	
Window Cleaning/Pressure Cleaning	-	-	1,076	-	-		-		-		-		-		-		-		-		1,076	
Holiday Decorations	14,620	-	6,756	6,649	-		-		-		-		-		-		-		-		28,025	
Contingency	-	31,800	-	-	-		-		-		-		-		-		-		-		31,800	
Capital Reserve	-	-	-	-	-		-		-		-		-		-		-		-		-	
Subtotal Clubhouse Expenditures	$ 182,126	$	94,310	$	67,320	$	55,434  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	399,190	
																	
Total Operations & Maintenance	$ 297,027	$ 259,869	$	199,425	$ 101,190  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	857,511	
															
Total Expenditures	$ 329,167	$ 271,492	$	206,858	$ 108,991  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	916,508	
															
Excess (Deficiency) of Revenues over Expenditures	$ (322,070)	$  (7,717)	$ 1,140,392	$ (48,141)  $		-  $		-  $		-  $		-  $		-  $		-  $		-  $		-  $	762,465	
																						
Net Change in Fund Balance	$ (322,070)	$  (7,717)	$ 1,140,392	$ (48,141) $		-  $		-  $		-  $		-  $		-  $		-  $		-  $		-  $	762,465	

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	
	TOTAL	$	4,097,934.65	$	162,255.35	$	39,357.49	$	4,413.52	$	3,900,735.33	$	1,637,745.64	$  1,261,635.08	$  1,001,354.62	$	3,900,735.34	

$

91.09%
400,795.57

Percent Collected
Balance Remaining to Collect