Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
May 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 May 31, 2026		
	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	58,751	

$	-	

$	58,751	
Petty Cash	654	-	654	
Due from General Fund	-	106,908	106,908	
Investments:
State Board of Administration - Surplus	

963,990	

-	

963,990	
State Board of Administration - Field Reserves	232,061	-	232,061	
State Board of Administration - Clubhouse Reserves	193,455	-	193,455	
BankUnited Money Market	1,073,332	-	1,073,332	
Series 2022
Interest	

-	

32	

32	
Revenue	-	435,298	435,298	
Sinking	-	71	71	
Series 2024
Interest	

-	

0	

0	
Revenue	-	254,522	254,522	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,528,244	$	796,833	$	3,325,077	

Liabilities:				
Accounts Payable	$	4,756	$	-	$	4,756	
Due to Debt Service	106,908	-	106,908	
Total Liabilities	$	111,664	$	-	$	111,664	

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

$	-

796,833	

$	6,000

796,833	
Unassigned	2,410,580	-	2,410,580	
Total Fund Balances	$	2,416,580	$	796,833	$	3,213,413	
				
Total Liabilities & Fund Balance	$	2,528,244	$	796,833	$	3,325,077	

	Adopted	Prorated Budget	Actual		
	Budget	Through 05/31/26	Through 05/31/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,794,376	$	1,763,389	$	(30,987)	
Interest Income	75,000	50,000	56,218	6,218	
Clubhouse Income	30,000	20,000	23,536	3,536	
Other Income	-	-	34,730	34,730	
Total Revenues	$	1,899,376	$	1,864,376	$	1,877,873	$	13,497	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	8,000	$	6,400	$	1,600	
FICA Taxes	918	-	612	490	122	
Engineering	16,000	10,667	3,136	7,530	
Attorney	47,000	31,333	16,073	15,261	
Annual Audit	4,300	4,300	4,300	-	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,200	550	650	
Dissemination Agent	5,500	3,667	3,667	0	
Trustee Fees	7,500	5,000	2,000	3,000	
Management Fees	72,491	48,328	48,327	0	
Website Maintenance	3,600	2,400	2,400	-	
Postage and Delivery	1,500	1,000	1,008	(8)	
Insurance General Liability	16,918	16,918	15,470	1,448	
Printing and Binding	750	500	15	485	
Legal Advertising	1,500	1,000	456	544	
Other Current Charges	1,000	667	694	(27)	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	194,352	$	137,766	$	107,160	$	30,606	

Operations and Maintenance					
Field Expenditures
Field Management	

$	32,759	

$	21,840	

$	21,839	

$	0	
Remote Gym and Entrance Road Video Surveillance (DML)	14,700	9,800	7,960	1,840	
General Maintenance	23,084	15,389	14,481	909	
Landscape Maintenance	186,001	124,001	124,001	(0)	
Landscape - Extra to Contract	50,000	33,333	18,513	14,820	
SFWMD Buffer Area Maintenance	-	-	31,902	(31,902)	
Mulch	23,000	23,000	27,802	(4,802)	
Tree Trimming	60,000	60,000	129,951	(69,951)	
Lake Maintenance	9,600	6,400	6,554	(154)	
Contingency	20,000	13,333	-	13,333	
Pressure Washing	20,000	13,333	16,225	(2,892)	
Culvert Cleaning/Inspection	20,000	20,000	46,950	(26,950)	
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	$	426,986	$	565,132	$	(138,146)	

	Adopted	Prorated Budget	Actual		
	Budget	Through 05/31/26	Through 05/31/26	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	92,000	$	92,000	$	-	
Security-Roving Guard	10,000	6,667	-	6,667	
Enhanced Security	15,000	10,000	-	10,000	
Transponders	8,500	5,667	-	5,667	
Management Fees	24,000	16,000	16,000	-	
Gate Access System Repairs and Maintenance	46,000	30,667	23,966	6,701	
Guardhouse Repairs and Maintenance	5,000	3,333	2,585	748	
Electric	4,000	2,667	1,886	780	
Water	1,500	1,000	219	781	
Internet Service	5,000	3,333	3,341	(8)	
Janitorial Services	600	400	400	-	
Subtotal Security Gate Service Expenditures	$	257,600	$	171,733	$	140,397	$	31,336	

Clubhouse Expenditures					
Alarm Monitoring	$	1,200	$	800	$	835	$	(35)	
Pool Video and Clubhouse Exterior Camera Surveillance (DML)	23,340	15,560	15,560	-	
Security - Roving Guard	8,000	5,333	1,470	3,863	
Air Conditioning Maint Contract and Repairs	10,000	6,667	10,670	(4,003)	
Fitness Equipment Maintenance and Repairs	8,000	5,333	5,488	(154)	
Electric	42,000	28,000	20,368	7,632	
Property Insurance	53,968	53,968	50,824	3,144	
Flood Insurance	19,039	19,039	18,760	279	
Janitorial Maintenance	60,600	40,400	40,400	-	
Janitorial Supplies	6,000	4,000	4,481	(481)	
Landscape Maintenance	32,508	21,672	21,672	-	
Landscape Replacement	10,000	6,667	-	6,667	
Office Equipment Maintenance	2,000	1,333	1,109	225	
Management Fees	302,304	201,536	201,536	-	
Office Supplies/Clubhouse Supplies	7,500	5,000	2,504	2,496	
Pest Control	1,000	667	520	147	
Pool and Spa Maintenance	39,000	26,000	28,000	(2,000)	
Pool Repairs	20,000	13,333	35,625	(22,292)	
Repairs and Maintenance	60,000	40,000	16,334	23,666	
Special Events	60,000	40,000	57,200	(17,200)	
Cable/Internet	6,300	4,200	4,078	122	
Trash Collection	1,500	1,500	1,442	58	
Water and Sewer	25,000	16,667	27,666	(10,999)	
Window Cleaning/Pressure Cleaning	3,500	2,333	2,053	281	
Holiday Decorations	31,724	31,724	28,025	3,699	
Contingency	10,000	10,000	31,800	(21,800)	
Capital Reserves	60,000	40,000	-	40,000	
Subtotal Clubhouse Expenditures	$	904,483	$	641,732	$	628,419	$	13,313	
					
Total Operations and Maintenance	$	1,707,783	$	1,240,451	$	1,333,948	$	(93,497)	
					
Total Expenditures	$	1,902,136	$	1,378,217	$	1,441,108	$	(62,890)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,760)	$	486,159	$	436,766	$	(49,393)	
					
Fund Balance - Beginning			$	1,979,814		
					
Fund Balance - Ending			$	2,416,580		

Revenues:					
Special Assessments - Tax Roll	$	1,382,295	$	1,382,295	$	1,358,424	$	(23,871)	
Interest Income	-	-	22,212	22,212	
Total Revenues	$	1,382,295	$	1,382,295	$	1,380,636	$	(1,659)	

Expenditures:					
Interest - 11/1	$	331,447	$	331,447	$	331,447	$	-	
Interest - 5/1	331,447	331,447	331,447	-	
Principal - 5/1	731,000	731,000	731,000	-	
Total Expenditures	$	1,393,893	$	1,393,893	$	1,393,893	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(11,598)	$	(11,598)	$	(13,257)	$	(1,659)	
					
Net Change in Fund Balance	$	(11,598)	$	(11,598)	$	(13,257)	$	(1,659)	
					
Fund Balance - Beginning			$	508,260		
					
Fund Balance - Ending			$	495,003		

Revenues:					
Special Assessments - Tax Roll	$	1,097,122	$	1,097,122	$	1,078,176	$	(18,946)	
Interest Income	1,000	667	16,454	15,787	
Total Revenues	$	1,098,122	$	1,097,789	$	1,094,630	$	(3,159)	

Expenditures:					
Interest - 11/1	$	197,500	$	197,500	$	197,500	$	-	
Interest - 5/1	197,500	197,500	197,500	-	
Principal - 5/1	710,000	710,000	710,000	-	
Total Expenditures	$	1,105,000	$	1,105,000	$	1,105,000	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(6,878)	$	(7,211)	$	(10,370)	$	(3,159)	
					
Net Change in Fund Balance	$	(6,878)	$	(7,211)	$	(10,370)	$	(3,159)	
					
Fund Balance - Beginning			$	312,199		
					
Fund Balance - Ending			$	301,829		

	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  $	58,815  $	18,555	$	-	$	-	$	-	$	-	$ 1,763,389	
Interest Income	5,897	4,722	5,643	8,475	7,618	8,444	7,772	7,647	-	-	-	-	56,218	
Clubhouse Income	-	14,690	-	-	5,006	715	-	3,125	-	-	-	-	23,536	
Other Income	1,200	600	-	-	1,894	30,178	-	858	-	-	-	-	34,730	
Total Revenues	$	7,097	$ 263,775	$ 1,347,250  $  60,850  $  36,413  $  65,715  $  66,588  $  30,185	$	-	$	-	$	-	$	-	$ 1,877,873	

Expenditures:						
General and Administrative:						
Supervisor Fees	$	1,000	$	1,800	$	-	$	800  $	-	$	800  $	-	$	2,000	$	-	$	-	$	-	$	-	$	6,400	
FICA Taxes	77	138	-	61	-	61	-	153	-	-	-	-	490	
Engineering	2,124	-	-	-	439	506	68	-	-	-	-	-	3,136	
Attorney		3,665		2,640		500	3,383	2,365	688	2,833	-		-			-			-			-			16,073	
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	458	458		-			-			-			-			3,667	
Trustee Fees		-		-		-	-	-	-	-	2,000		-			-			-			-			2,000	
Management Fees		6,041		6,041		6,041	6,041	6,041	6,041	6,041	6,041		-			-			-			-			48,327	
Website Maintenance		300		300		300	300	300	300	300	300		-			-			-			-			2,400	
Postage and Delivery		177		104		79	90	115	198	171	75		-			-			-			-			1,008	
Insurance General Liability		15,470		-		-	-	-	-	-	-		-			-			-			-			15,470	
Printing and Binding		4		-		-	-	4	4	-	3		-			-			-			-			15	
Legal Advertising		-		-		-	-	-	-	-	456		-			-			-			-			456	
Other Current Charges		100		142		55	50	50	71	136	90		-			-			-			-			694	
Dues, Licenses and Subscriptions		175		-		-	-	-	-	-	-		-			-			-			-			175	
Total General & Administrative	$	32,140	$	11,623	$	7,433  $	11,183  $	9,771  $	13,426  $	10,006  $	11,576	$		-	$		-	$		-	$		-	$	107,159	

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	
$	2,730	
$	2,730	
$	-	
$	-	
$	-	
$	-	
$  21,839	
Remote Gym and Entrance Road Video Surveillance (DM	995	995	995	995	995	995	995	995	-	-	-	-	7,960	
General Maintenance	954	-	-	988	3,625	3,630	4,934	350	-	-	-	-	14,481	
Landscape Maintenance	15,500	15,500	15,500	15,500	15,500	15,500	15,500	15,500	-	-	-	-	124,001	
Landscape - Extra to Contract	-	9,263	3,300	-	-	-	5,950	-	-	-	-	-	18,513	
SFWMD Buffer Area Maintenance	-	-	-	-	10,200	18,402	3,300	-	-	-	-	-	31,902	
Mulch	-	27,802	-	-	-	-	-	-	-	-	-	-	27,802	
Tree Trimming	58,075	-	71,876	-	-	-	-	-	-	-	-	-	129,951	
Lake Maintenance	800	800	954	800	800	800	800	800	-	-	-	-	6,554	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pressure Washing	-	16,225	-	-	-	-	-	-	-	-	-	-	16,225	
Culvert Cleaning/Inspection	2,150	-	-	-	18,500	-	14,800	11,500	-	-	-	-	46,950	
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	$  49,009	$  31,875	$	-  $	-  $	-  $	-  $ 565,132	

Security Gate Service Expenditures
Security (DML)	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$	-	$	-	$	-	$	-	$  92,000	
Security-Roving Guard	-	-	-	-	-	-	-	-	-	-	-	-	-	
Enhanced Security	-	-	-	-	-	-	-	-	-	-	-	-	-	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	-	-	-	-	16,000	
Gate Access System Repairs and Maintenance	1,963	2,149	3,892	2,801	3,707	3,129	2,094	4,232	-	-	-	-	23,966	
Guardhouse Repairs and Maintenance	-	-	-	-	-	-	2,585	-	-	-	-	-	2,585	
Electric	266	277	271	207	266	275	324	-	-	-	-	-	1,886	
Water	34	35	39	36	-	-	75	-	-	-	-	-	219	
Internet Service	397	397	417	422	427	427	427	425	-	-	-	-	3,341	
Janitorial Services	50	50	50	50	50	50	50	50	-	-	-	-	400	
Subtotal Security Gate Service Expenditures	$  16,211	$  16,408	$  18,168	$  17,017	$  17,951	$  17,381	$  19,055	$  18,207	$	-  $	-  $	-  $	-  $ 140,397	

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

Clubhouse Expenditures																		
Alarm Monitoring	$	270	$	-	$	-	$	270	$	25	$	-	$	270	$	-	$	-	$	-	$	-	$	-	$	835	
Pool Video and Clubhouse Exterior Camera Surveillance	1,945	1,945	1,945	1,945	1,945	1,945	1,945	1,945	-		-		-		-		15,560	
Security - Roving Guard	-	555	150	-	-	270	195	300	-		-		-		-		1,470	
Air Conditioning Maint Contract and Repairs	606	1,140	490	1,344	646	3,397	1,791	1,255	-		-		-		-		10,670	
Fitness Equipment Maintenance and Repairs	513	905	190	1,079	968	647	190	995	-		-		-		-		5,488	
Electric	2,784	2,050	3,024	3,240	2,568	3,235	3,467	-	-		-		-		-		20,368	
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	5,050	5,050	-		-		-		-		40,400	
Janitorial Supplies	758	334	106	800	358	254	1,293	579	-		-		-		-		4,481	
Landscape Maintenance	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	-		-		-		-		21,672	
Landscape Replacement	-	-	-	-	-	-	-	-	-		-		-		-		-	
Office Equipment Maintenance	137	148	137	137	137	137	137	137	-		-		-		-		1,109	
Management Fees	25,192	25,192	25,192	25,192	25,192	25,192	25,192	25,192	-		-		-		-		201,536	
Office Supplies/Clubhouse Supplies	138	135	365	686	495	508	177	-	-		-		-		-		2,504	
Pest Control	65	65	65	65	65	65	65	65	-		-		-		-		520	
Pool and Spa Maintenance	3,500	3,500	3,500	3,500	3,500	3,500	3,500	3,500	-		-		-		-		28,000	
Pool Repairs	16,048	6,625	3,576	3,210	-	-	180	5,986	-		-		-		-		35,625	
Repairs and Maintenance	2,204	851	2,211	1,824	2,369	2,141	2,351	2,383	-		-		-		-		16,334	
Special Events	14,141	10,979	8,915	5,547	12,020	390	1,259	3,950	-		-		-		-		57,200	
Cable/Internet	417	376	652	440	433	664	548	548	-		-		-		-		4,078	
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	$	94,358	$	67,550	$	63,688	$	64,961	$	50,593	$	50,319	$	54,595  $	-  $	-  $	-  $	-	$	628,419	
																						
Total Operations & Maintenance	$ 297,027	$ 259,686	$	199,425	$ 109,458	$ 135,262	$ 110,031	$ 118,383	$ 104,677  $	-  $	-  $	-  $	-	$ 1,333,948	
															
Total Expenditures	$ 329,167	$ 271,309	$	206,858	$ 120,641	$ 145,033	$ 123,457	$ 128,389	$ 116,253  $	-  $	-  $	-  $	-	$ 1,441,107	
															
Excess (Deficiency) of Revenues over Expenditures	$ (322,070)	$  (7,534)	$ 1,140,392	$ (59,791)	$ (108,620)	$ (57,742)	$ (61,801)	$ (86,068)  $		-  $		-  $		-  $		-	$ 436,766	
																		
Net Change in Fund Balance	$ (322,070)	$  (7,534)	$ 1,140,392	$ (59,791)	$ (108,620)	$ (57,742)	$ (61,801)	$ (86,068) $		-  $		-  $		-  $		-	$ 436,766	

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 (731,000)	
Current Bonds Outstanding	$16,487,000	

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 (710,000)	
Current Bonds Outstanding	$7,190,000	

Total Current Bonds Outstanding	$23,677,000

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	
04/17/26	3/1/26-3/31/26	141,071.02	69.64	1,410.00	-	139,591.38	58,608.23	45,148.76	35,834.39	139,591.38	
04/24/26	INTEREST	-	-	-	493.54	493.54	207.22	159.63	126.70	493.55	
5/15/26	4/1/26-4/30/26	$44,002.03	$0.00	$440.00	$631.75	44,193.78	18,555.01	14,293.82	11,344.95	44,193.78	
	TOTAL	$	4,400,850.47	$	164,144.06	$	42,368.88	$	5,651.77	$	4,199,989.30	$	1,763,389.11	$  1,358,424.34	$  1,078,175.87	$	4,199,989.32	

$

97.82%
97,879.75

Percent Collected
Balance Remaining to Collect