Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
July 31, 2025

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 July 31, 2025		
	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	75,340	

$	-	

$	75,340	
Petty Cash	654	-	654	
Due from General Fund	-	156,740	156,740	
Investments:
State Board of Administration - Surplus	

720,562	

-	

720,562	
State Board of Administration - Field Reserves	224,384	-	224,384	
State Board of Administration - Clubhouse Reserves	187,055	-	187,055	
BankUnited Money Market	1,240,473	-	1,240,473	
Series 2022
Interest	

-	

41	

41	
Revenue	-	417,564	417,564	
Sinking	-	82	82	
Series 2024
Interest	

-	

46	

46	
Revenue	-	240,850	240,850	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,454,468	$	815,403	$	3,269,871	

Liabilities:				
Accounts Payable	$	56,813	$	-	$	56,813	
Due to Debt Service	156,740	-	156,740	
Total Liabilities	$	213,552	$	-	$	213,552	

Fund Balance:
Nonspendable:
Deposits	$	6,000
Restricted for:
Debt Service	-	

$	-

815,403	

$	6,000

815,403	
Unassigned	2,234,916	-	2,234,916	
Total Fund Balances	$	2,240,916	$	815,403	$	3,056,319	
				
Total Liabilities & Fund Balance	$	2,454,468	$	815,403	$	3,269,871	

	Adopted	Prorated Budget	Actual		
	Budget	Through 07/31/25	Through 07/31/25	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,794,376	$	1,805,827	$	11,451	
Interest Income	50,000	41,667	83,577	41,910	
Clubhouse Income	20,000	16,667	34,002	17,335	
Other Income	-	-	4,145	4,145	
Total Revenues	$	1,864,376	$	1,852,709	$	1,927,552	$	74,842	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	10,000	$	7,600	$	2,400	
FICA Taxes	918	-	765	581	184	
Engineering	5,000	4,167	15,269	(11,102)	
Attorney	35,000	29,167	31,305	(2,138)	
Annual Audit	4,200	4,200	4,200	-	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,000	-	1,000	
Dissemination Agent	5,500	4,583	4,583	0	
Trustee Fees	7,500	6,250	6,250	-	
Management Fees	67,749	56,458	56,458	-	
Website Maintenance	3,600	3,000	3,000	-	
Postage and Delivery	1,700	1,417	1,215	202	
Insurance General Liability	14,594	14,594	14,594	-	
Printing and Binding	1,200	1,000	257	743	
Legal Advertising	1,500	1,250	1,176	74	
Other Current Charges	1,000	833	583	250	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	164,836	$	140,858	$	149,246	$	(8,388)	

Operations and Maintenance					
Field Expenditures
Field Management	

$	30,616	

$	25,514	

$	25,513	

$	0	
Security	14,700	12,250	12,250	-	
General Maintenance	28,572	23,810	9,335	14,475	
Landscape Maintenance	186,001	155,001	155,001	(0)	
Landscape - Extra to Contract	50,000	50,000	77,085	(27,085)	
Mulch	23,000	19,167	16,989	2,178	
Tree Trimming	60,000	36,875	36,875	-	
Lake Maintenance	9,600	8,000	8,000	-	
Contingency	30,000	30,000	49,443	(19,443)	
Pressure Washing	20,000	16,010	16,010	-	
Culvert Cleaning/Inspection	20,000	16,667	-	16,667	
Holiday Decorations	38,276	38,276	38,276	-	
Cleaning Reserve Area	48,280	40,233	19,200	21,033	
Subtotal Field Expenditures	$	559,045	$	471,802	$	463,977	$	7,825	

	Adopted	Prorated Budget	Actual		
	Budget	Through 07/31/25	Through 07/31/25	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	115,000	$	115,000	$	-	
Security-Roving Guard	10,000	8,333	-	8,333	
Enhanced Security	15,000	12,500	-	12,500	
Transponders	8,500	7,083	-	7,083	
Management Fees	24,000	20,000	20,000	-	
Gate Repairs and Maintenance	40,000	33,333	39,677	(6,344)	
Building Repairs and Maintenance	5,000	4,167	-	4,167	
Electric	5,000	4,167	2,590	1,577	
Water	1,000	833	1,668	(835)	
Phone and Internet Service	4,500	3,750	4,292	(542)	
Janitorial Services	600	500	500	-	
Subtotal Security Gate Service Expenditures	$	251,600	$	209,667	$	183,727	$	25,940	

Clubhouse Expenditures					
Alarm Monitoring	$	1,500	$	1,250	$	1,205	$	45	
Club Exterior Camera Monitoring	8,640	7,200	7,200	-	
Pool Monitoring	11,940	9,950	9,950	-	
Security - Roving Guard	10,000	8,333	2,970	5,363	
Air Conditioning Maint Contract and Repairs	12,000	10,000	7,899	2,101	
Fitness Equipment Maintenance and Repairs	8,000	6,667	3,368	3,299	
Electric	44,000	36,667	27,762	8,904	
Property Insurance	49,970	49,970	49,970	-	
Flood Insurance	18,161	18,161	18,161	-	
Janitorial Maintenance	57,000	47,500	47,500	-	
Janitorial Supplies	6,000	5,000	4,920	80	
Landscape Maintenance	32,508	27,090	27,090	-	
Landscape Replacement	10,000	10,000	16,762	(6,762)	
Office Equipment Maintenance	2,000	1,667	1,412	254	
Management Fees	289,752	241,460	241,460	-	
Office Supplies/Clubhouse Supplies	7,500	6,250	4,988	1,262	
Pest Control	1,000	833	900	(67)	
Pool and Spa Maintenance	39,000	32,500	26,850	5,650	
Pool Repairs	20,000	16,667	24,880	(8,213)	
Repairs and Maintenance	63,000	52,500	40,584	11,916	
Special Events	60,000	50,000	68,786	(18,786)	
Cable/Internet	6,000	5,000	5,087	(87)	
Trash Collection	1,200	1,000	1,430	(430)	
Water and Sewer	21,000	17,500	108,144	(90,644)	
Window Cleaning/Pressure Cleaning	3,500	2,917	2,615	302	
Holiday Decorations	31,724	31,724	32,799	(1,075)	
Contingency	13,500	13,500	17,750	(4,250)	
Capital Reserve	60,000	68,876	68,876	-	
Subtotal Clubhouse Expenditures	$	888,895	$	780,181	$	871,318	$	(91,137)	
					
Total Operations and Maintenance	$	1,699,540	$	1,461,650	$	1,519,022	$	(57,372)	
					
Total Expenditures	$	1,864,376	$	1,602,508	$	1,668,268	$	(65,760)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(0)	$	250,201	$	259,283	$	9,082	
					
Fund Balance - Beginning			$	1,977,382		
					
Fund Balance - Ending			$	2,236,666		

Revenues:

Special Assessments - Tax Roll

$	1,382,295

$	1,382,295

$	1,391,117	$

8,822

Interest Income	-	-	28,761	28,761

Total Revenues

$

1,382,295

$	1,382,295

$	1,419,877

$

37,582

Expenditures:

Interest - 11/1

$	345,018	$

345,018	$

345,018	$	-

Interest - 5/1	345,018	345,018	345,018	-
Principal - 5/1	705,000	705,000	705,000	-

Total Expenditures

$

1,395,036

$	1,395,036

$	1,395,036

$

-

Excess (Deficiency) of Revenues over Expenditures

$

(12,741)	$

(12,741)	$

24,842

$

37,582

Net Change in Fund Balance

$

(12,741)	$

(12,741)	$

24,842

$

37,582

Fund Balance - Beginning

$

480,230

Fund Balance - Ending

$

505,072

Revenues:

Special Assessments - Tax Roll

$	1,097,122

$	1,097,122

$	1,104,124	$

7,001

Interest Income	1,000	833	20,571	19,738

Total Revenues

$

1,098,122

$	1,097,955

$	1,124,695

$

26,739

Expenditures:

Interest - 11/1

$	182,431	$

182,431	$

182,431	$	-

Interest - 5/1	214,625	214,625	214,625	-
Principal - 5/1	685,000	685,000	685,000	-

Total Expenditures

$

1,082,056

$	1,082,056

$	1,082,056

$

-

Excess (Deficiency) of Revenues over Expenditures

$

16,066

$

15,899

$

42,639

$

26,739

Net Change in Fund Balance

$

16,066

$

15,899

$

42,654

$

26,755

Fund Balance - Beginning

$

267,677

Fund Balance - Ending

$

310,331

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

Revenues:															
Special Assessments - Tax Roll	$	-	$ 207,702	$ 1,391,818  $	38,657	$	26,680  $	27,536  $	58,452  $	10,626  $	44,335	$	21	$	-	$	-	$ 1,805,827	
Interest Income	7,187	5,981	6,269	10,118		9,132	10,106	8,959	9,031	8,323	8,470	-	-	83,577	
Clubhouse Income	5,771	3,724	3,723	-		4,800	4,086	5,087	3,575	-	3,235	-	-	34,002	
Other Income	350	-	200	-		350	1,150	1,495	500	-	100	-	-	4,145	
Total Revenues	$  13,308	$ 217,407	$ 1,402,011  $  48,774	$  40,962  $  42,879  $  73,993  $  23,732  $  52,658	$  11,826	$	-	$	-	$ 1,927,552	

Expenditures:								
General and Administrative:								
Supervisor Fees	$	1,000	$	-	$	1,000  $	-	$	1,000  $	800  $	1,000  $	1,000  $	1,000	$	800	$	-	$	-	$	7,600	
FICA Taxes	77	-	77	-	77	61	77	77	77	61	-	-	581	
Engineering	1,578	2,945	135	771	-	651	3,183	-	220	5,786	-	-	15,269	
Attorney	5,390	4,428	1,898	4,973	3,218	3,830	3,328	1,430	2,813	-	-	-	31,305	
Annual Audit	-	-	-	1,500	-	2,700	-	-	-	-	-	-	4,200	
Assessment Roll Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Calculation	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dissemination Agent	458	458	458	458	458	458	458	458	458	458	-	-	4,583	
Trustee Fees	-	-	-	-	-	-	2,000	-	-	-	-	-	2,000	
Management Fees	5,646	5,646	5,646	5,646	5,646	5,646	5,646	5,646	5,646	5,646	-	-	56,458	
Website Maintenance	300	300	300	300	300	300	300	300	300	300	-	-	3,000	
Postage and Delivery	133	119	157	87	83	166	151	88	96	134	-	-	1,215	
Insurance General Liability	14,594	-	-	-	-	-	-	-	-	-	-	-	14,594	
Printing and Binding	18	24	22	3	54	35	57	17	2	27	-	-	257	
Legal Advertising	-	-	-	-	-	-	-	497	-	679	-	-	1,176	
Other Current Charges	64	55	51	51	51	51	111	51	51	51	-	-	583	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$  31,432	$  13,973	$	9,743  $  13,788	$  10,886  $  14,698  $  16,309  $	9,564  $  10,661	$  13,942	$	-  $	-	$ 144,996	

-	-		
-	-		
-	-		
-	-		

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

Operations & Maintenance														
Field Expenditures
Field Management	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	2,551	

$	-	

$	-	

$  25,513	
Security	1,225	1,225	1,225	1,225	1,225	1,225	1,225	1,225	1,225	1,225	-	-	12,250	
General Maintenance	145	1,656	2,944	1,652	813	-	776	1,350	-	-	-	-	9,335	
Landscape Maintenance	15,500	15,500	15,500	15,500	15,500	15,500	15,500	15,500	15,500	15,500	-	-	155,001	
Landscape - Extra to Contract	-	46,890	-	-	1,600	15,850	-	5,550	2,220	4,975	-	-	77,085	
Mulch	-	16,989	-	-	-	-	-	-	-	-	-	-	16,989	
Tree Trimming	36,875	-	-	-	-	-	-	-	-	-	-	-	36,875	
Lake Maintenance	800	800	800	800	800	800	800	800	800	800	-	-	8,000	
Contingency	-	-	2,150	2,150	-	28,643	-	16,500	-	-	-	-	49,443	
Pressure Washing	4,575	10,675	-	-	-	-	-	-	760	-	-	-	16,010	

Culvert Cleaning/Inspection Reserves
Holiday Decorations Cleaning Reserve Area	-
- 19,138
-	-
-
-
-	-
- 19,138
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
- 19,200	-
- 38,276
19,200	
Subtotal Field Expenditures	$  80,810	$  96,286	$  44,308	$  23,879	$  22,489	$  64,569	$  20,852	$  43,476	$  23,056	$  44,251	$	-  $	-  $ 463,977	

Security Gate Service Expenditures												
Security (DML)	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$	-	$	-	$ 115,000	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	-	-	20,000	
Gate Repairs and Maintenance	3,449	7,819	4,194	1,988	1,818	2,583	3,439	7,358	4,211	2,820	-	-	39,677	
Building Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	287	279	344	280	236	259	265	323	317	-	-	-	2,590	
Water	115	-	-	296	-	-	34	1,190	-	34	-	-	1,668	
Phone and Internet Service	361	361	361	398	403	403	400	398	809	397	-	-	4,292	
Janitorial Services	50	50	50	50	50	50	50	50	50	50	-	-	500	
Subtotal Security Gate Service Expenditures	$	17,762	$	22,009	$	18,449	$	16,511	$	16,006	$	16,796	$	17,688	$	22,818	$	18,886	$	16,801	$	-	$	-	$	183,727	

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

Clubhouse Expenditures														
Alarm Monitoring	$	270	$	100	$	-	$	270	$	-	$	-	$	295	$	-	$	-	$	270	$	-	$	-	$	1,205	
Club Exterior Camera Monitoring	720	720	720	720	720	720	720	720	720	720	-	-	7,200	
Pool Monitoring	995	995	995	995	995	995	995	995	995	995	-	-	9,950	
Security - Roving Guard	-	173	405	765	-	248	570	480	240	90	-	-	2,970	
Air Conditioning Maint Contract and Repairs	490	490	1,476	771	490	490	776	926	490	1,500	-	-	7,899	
Fitness Equipment Maintenance and Repairs	400	190	190	190	769	600	460	190	190	190	-	-	3,368	
Electric	3,257	3,291	3,142	3,491	2,996	3,032	2,464	3,058	3,031	-	-	-	27,762	
Property Insurance	49,970	-	-	-	-	-	-	-	-	-	-	-	49,970	
Flood Insurance	18,161	-	-	-	-	-	-	-	-	-	-	-	18,161	
Janitorial Maintenance	4,750	4,750	4,750	4,750	4,750	4,750	4,750	4,750	4,750	4,750	-	-	47,500	
Janitorial Supplies	592	241	683	413	628	314	354	639	332	724	-	-	4,920	
Landscape Maintenance	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	-	-	27,090	
Landscape Replacement	-	16,762	-	-	-	-	-	-	-	-	-	-	16,762	
Office Equipment Maintenance	137	151	301	137	137	137	137	137	137	-	-	-	1,412	
Management Fees	24,146	24,146	24,146	24,146	24,146	24,146	24,146	24,146	24,146	24,146	-	-	241,460	
Office Supplies/Clubhouse Supplies	535	269	106	685	1,284	454	259	558	659	180	-	-	4,988	
Pest Control	65	65	65	65	65	65	65	65	65	315	-	-	900	
Pool and Spa Maintenance	3,250	2,950	2,950	2,950	2,950	2,950	2,950	2,950	2,950	-	-	-	26,850	
Pool Repairs	380	2,500	1,490	1,494	440	1,197	12,838	-	1,396	3,145	-	-	24,880	
Repairs and Maintenance	5,120	3,060	5,052	2,748	4,668	1,995	3,740	5,808	2,637	5,754	-	-	40,584	
Special Events	14,028	6,075	11,277	4,790	1,605	1,475	11,370	2,285	11,515	4,366	-	-	68,786	
Cable/Internet	517	517	520	527	525	525	522	522	251	663	-	-	5,087	
Trash Collection	1,430	-	-	-	-	-	-	-	-	-	-	-	1,430	
Water and Sewer	22,267	-	-	26,813	-	5,663	5,663	47,738	-	-	-	-	108,144	
Window Cleaning/Pressure Cleaning	-	-	-	-	1,539	-	-	-	1,076	-	-	-	2,615	
Holiday Decorations	16,718	219	15,862	-	-	-	-	-	-	-	-	-	32,799	
Contingency	-	-	-	1,150	-	10,000	-	3,650	-	2,950	-	-	17,750	
Capital Reserve	-	20,246	30,866	-	-	-	-	-	-	17,764	-	-	68,876	

Subtotal Clubhouse Expenditures	$ 170,907  $  90,619  $ 107,705  $  80,580  $  51,416  $  62,464  $  75,782  $ 102,325  $  58,289  $  71,231  $	-  $	-  $ 871,318

Total Operations & Maintenance	$ 269,478	$ 208,914	$ 170,462	$ 120,970  $  89,912  $ 143,829  $ 114,323  $ 168,620  $ 100,232  $ 132,283  $	-  $	-  $ 1,519,022	
					
Total Expenditures	$ 300,910	$ 222,888	$ 180,204	$ 134,758  $ 100,797  $ 158,527  $ 130,631  $ 178,184  $ 110,893  $ 146,225  $	-  $	-  $ 1,664,018	

Excess (Deficiency) of Revenues over Expenditures	$ (287,602)	$  (5,480)	$ 1,221,806	$ (85,984)	$ (59,835)	$ (115,648)	$ (56,638)	$ (154,452)	$ (58,236)	$ (134,398)	$	-  $	-	$ 263,534	
													
Net Change in Fund Balance	$ (287,602)	$  (5,480)	$ 1,221,806	$ (85,984)	$ (59,835)	$ (115,648)	$ (56,638)	$ (154,452)	$ (58,236)	$ (134,398)	$	-  $	-	$ 263,534	

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

Original Amount:

Interest Rate: Maturity Date:

Bonds Outstanding - 9/30/24 Less:	Series 2022, Special Assessment Refunding Bonds

$19,254,000

3.85%
5/1/2042

May 1, 2025 (Mandatory)	

$17,923,000 (705,000)	
Current Bonds Outstanding	$17,218,000	

Original Amount:

Interest Rate: Maturity Date:

Bonds Outstanding - 9/30/24 Less:	Series 2024, Special Assessment Refunding Bonds

$8,585,000

5.00%
5/1/2034

May 1, 2025 (Mandatory)	

$8,585,000 (685,000)	
Current Bonds Outstanding	$7,900,000	

Total Current Bonds Outstanding	$17,218,000

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	

11/07/24	
10/1/24-10/31/24	
$	37.17	
$	-	
$	0.37	
$	13.04	
$	49.84	
$	20.93	
$	16.12	
$	12.79	
$	49.84	
11/25/24	11/1/24-11/11/24	300,584.06	12,006.64	2,885.77	-	285,691.65	119,949.24	92,402.73	73,339.67	285,691.64	
11/26/24	11/12/24-11/18/24	219,861.80	8,794.46	2,110.68	-	208,956.66	87,731.63	67,583.94	53,641.09	208,956.66	
12/04/24	6/1/24-11/1/24	32,334.92	1,573.04	307.62	-	30,454.26	12,786.39	9,849.98	7,817.89	30,454.26	
12/09/24	11/19/24-11/30/24	3,336,086.25	133,443.79	32,026.42	-	3,170,616.04	1,331,200.96	1,025,488.81	813,926.27	3,170,616.04	
12/13/24	INTEREST	-	-	-	0.30	0.30	0.13	0.10	0.08	0.31	
12/19/24	12/1/24-12/13/24	119,292.49	4,232.84	1,150.60	13.46	113,922.51	47,831.01	36,846.55	29,244.96	113,922.52	
01/10/25	12/14/24-12/31/24	95,826.94	2,839.85	929.86	13.84	92,071.07	38,656.56	29,779.02	23,635.49	92,071.07	
02/07/25	INTEREST	-	-	-	1,972.66	1,972.66	828.23	638.03	506.40	1,972.66	
02/12/25	1/1/25-1/31/25	63,492.02	1,311.09	621.78	14.25	61,573.40	25,851.94	19,915.00	15,806.46	61,573.40	
03/06/25	2/1/25-2/28/25	64,135.49	720.61	634.14	14.62	62,795.36	26,364.98	20,310.23	16,120.15	62,795.36	
03/21/25	INTEREST	-	-	-	2,789.99	2,789.99	1,171.39	902.38	716.22	2,789.99	
04/07/25	3/1/25-3/31/25	140,302.79	36.65	1,402.69	356.15	139,219.60	58,452.13	45,028.52	35,738.95	139,219.60	
05/13/25	4/1/25-4/30/25	24,530.90	-	245.30	373.03	24,658.63	10,353.06	7,975.47	6,330.10	24,658.63	
05/21/25	INTEREST	-	-	-	650.02	650.02	272.91	210.24	166.87	650.02	
06/11/25	5/1/25-5/31/25	22,769.18	-	227.69	674.93	23,216.42	9,747.54	7,509.01	5,959.87	23,216.42	
06/25/25	6/15/25-6/17/25	79,628.19	-	796.32	3,547.45	82,379.32	34,587.42	26,644.37	21,147.53	82,379.32	
07/07/25	6/1/25-6/30/25	34.12	-	0.35	16.08	49.85	20.93	16.12	12.80	49.85	
	TOTAL	$	4,498,916.32	$	164,958.97	$	43,339.59	$	10,449.82	$	4,301,067.58	$	1,805,827.38	$  1,391,116.62	$  1,104,123.59	$	4,301,067.59	

$

100.00%
(186.10)

Percent Collected
Balance Remaining to Collect