Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
June 30, 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 June 30, 2025		
	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	200,456	

$	-	

$	200,456	
Petty Cash	654	-	654	
Due from General Fund	-	156,711	156,711	
Investments:
State Board of Administration - Surplus	

717,843	

-	

717,843	
State Board of Administration - Field Reserves	223,537	-	223,537	
State Board of Administration - Clubhouse Reserves	186,349	-	186,349	
BankUnited Money Market	1,236,325	-	1,236,325	
Series 2022
Interest	

-	

41	

41	
Revenue	-	416,141	416,141	
Sinking	-	82	82	
Series 2024
Interest	

-	

46	

46	
Revenue	-	240,036	240,036	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,571,165	$	813,135	$	3,384,300	

Liabilities:				
Accounts Payable	$	31,765	$	-	$	31,765	
Due to Debt Service	156,711	-	156,711	
Total Liabilities	$	188,476	$	-	$	188,476	

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

$	-

813,135	

$	6,000

813,135	
Unassigned	2,376,689	-	2,376,689	
Total Fund Balances	$	2,382,689	$	813,135	$	3,195,824	
				
Total Liabilities & Fund Balance	$	2,571,165	$	813,135	$	3,384,300	

	Adopted	Prorated Budget	Actual		
	Budget	Through 06/30/25	Through 06/30/25	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,794,376	$	1,805,806	$	11,430	
Interest Income	50,000	37,500	75,106	37,606	
Clubhouse Income	20,000	15,000	30,767	15,767	
Other Income	-	-	4,045	4,045	
Total Revenues	$	1,864,376	$	1,846,876	$	1,915,725	$	68,849	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	9,000	$	5,800	$	3,200	
FICA Taxes	918	-	689	444	245	
Engineering	5,000	3,750	9,483	(5,733)	
Attorney	35,000	26,250	28,493	(2,243)	
Annual Audit	4,200	4,200	4,200	-	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	900	-	900	
Dissemination Agent	5,500	4,125	4,125	0	
Trustee Fees	7,500	5,625	2,000	3,625	
Management Fees	67,749	50,812	50,812	-	
Website Maintenance	3,600	2,700	2,700	-	
Postage and Delivery	1,700	1,275	1,080	195	
Insurance General Liability	14,594	14,594	14,594	-	
Printing and Binding	1,200	900	230	670	
Legal Advertising	1,500	1,125	497	628	
Other Current Charges	1,000	750	532	218	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	164,836	$	128,869	$	127,165	$	1,704	

Operations and Maintenance					
Field Expenditures
Field Management	

$	30,616	

$	22,962	

$	22,962	

$	0	
Security	14,700	11,025	11,025	-	
General Maintenance	28,572	21,429	9,335	12,094	
Landscape Maintenance	186,001	139,501	139,501	(0)	
Landscape - Extra to Contract	50,000	50,000	72,110	(22,110)	
Mulch	23,000	17,250	16,989	261	
Tree Trimming	60,000	36,875	36,875	-	
Lake Maintenance	9,600	7,200	7,200	-	
Contingency	30,000	30,000	49,443	(19,443)	
Pressure Washing	20,000	16,010	16,010	-	
Culvert Cleaning/Inspection	20,000	15,000	-	15,000	
Holiday Decorations	38,276	38,276	38,276	-	
Cleaning Reserve Area	48,280	36,210	-	36,210	
Subtotal Field Expenditures	$	559,045	$	441,738	$	419,725	$	22,013	

	Adopted	Prorated Budget	Actual		
	Budget	Through 06/30/25	Through 06/30/25	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	103,500	$	103,500	$	-	
Security-Roving Guard	10,000	7,500	-	7,500	
Enhanced Security	15,000	11,250	-	11,250	
Transponders	8,500	6,375	-	6,375	
Management Fees	24,000	18,000	18,000	-	
Gate Repairs and Maintenance	40,000	30,000	36,857	(6,857)	
Building Repairs and Maintenance	5,000	3,750	-	3,750	
Electric	5,000	3,750	2,273	1,477	
Water	1,000	750	1,634	(884)	
Phone and Internet Service	4,500	3,375	3,895	(520)	
Janitorial Services	600	450	450	-	
Subtotal Security Gate Service Expenditures	$	251,600	$	188,700	$	166,609	$	22,091	

Clubhouse Expenditures					
Alarm Monitoring	$	1,500	$	1,125	$	935	$	190	
Club Exterior Camera Monitoring	8,640	6,480	6,480	-	
Pool Monitoring	11,940	8,955	8,955	-	
Security - Roving Guard	10,000	7,500	2,880	4,620	
Air Conditioning Maint Contract and Repairs	12,000	9,000	6,399	2,601	
Fitness Equipment Maintenance and Repairs	8,000	6,000	3,178	2,822	
Electric	44,000	33,000	24,731	8,269	
Property Insurance	49,970	49,970	49,970	-	
Flood Insurance	18,161	18,161	18,161	-	
Janitorial Maintenance	57,000	42,750	42,750	-	
Janitorial Supplies	6,000	4,500	4,196	304	
Landscape Maintenance	32,508	24,381	24,381	-	
Landscape Replacement	10,000	10,000	16,762	(6,762)	
Office Equipment Maintenance	2,000	1,500	1,275	225	
Management Fees	289,752	217,314	217,314	-	
Office Supplies/Clubhouse Supplies	7,500	5,625	4,808	817	
Pest Control	1,000	750	585	165	
Pool and Spa Maintenance	39,000	29,250	26,850	2,400	
Pool Repairs	20,000	15,000	21,735	(6,735)	
Repairs and Maintenance	63,000	47,250	34,829	12,421	
Special Events	60,000	45,000	64,420	(19,420)	
Cable/Internet	6,000	4,500	4,425	75	
Trash Collection	1,200	900	1,430	(530)	
Water and Sewer	21,000	15,750	108,144	(92,394)	
Window Cleaning/Pressure Cleaning	3,500	2,625	2,615	10	
Holiday Decorations	31,724	31,724	32,799	(1,075)	
Contingency	13,500	13,500	14,800	(1,300)	
Capital Reserve	60,000	51,112	51,112	-	
Subtotal Clubhouse Expenditures	$	888,895	$	703,622	$	796,919	$	(93,297)	
					
Total Operations and Maintenance	$	1,699,540	$	1,334,060	$	1,383,254	$	(49,193)	
					
Total Expenditures	$	1,864,376	$	1,462,930	$	1,510,419	$	(47,489)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(0)	$	383,946	$	405,306	$	21,360	
					
Fund Balance - Beginning			$	1,977,382		
					
Fund Balance - Ending			$	2,382,689		

Revenues:

Special Assessments - Tax Roll

$	1,382,295

$	1,382,295

$	1,391,100	$

8,805

Interest Income	-	-	27,336	27,336

Total Revenues

$

1,382,295

$	1,382,295

$	1,418,437

$

36,142

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)	$

23,401

$

36,142

Net Change in Fund Balance

$

(12,741)	$

(12,741)	$

23,401

$

36,142

Fund Balance - Beginning

$

480,230

Fund Balance - Ending

$

503,631

Revenues:

Special Assessments - Tax Roll

$	1,097,122

$	1,097,122

$	1,104,111	$

6,989

Interest Income	1,000	750	19,756	19,006

Total Revenues

$

1,098,122

$	1,097,872

$	1,123,867

$

25,995

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

$

15,816

$

41,811

$

25,995

Net Change in Fund Balance

$

16,066

$

15,816

$

41,826

$

26,011

Fund Balance - Beginning

$

267,677

Fund Balance - Ending

$

309,504

	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	$	-	$	-	$	-	$ 1,805,806	
Interest Income	7,187	5,981	6,269	10,118	9,132	10,106	8,959	9,031	8,323	-	-	-	75,106	
Clubhouse Income	5,771	3,724	3,723	-	4,800	4,086	5,087	3,575	-	-	-	-	30,767	
Other Income	350	-	200	-	350	1,150	1,495	500	-	-	-	-	4,045	
Total Revenues	$  13,308	$ 217,407	$ 1,402,011  $  48,774  $  40,962  $  42,879  $  73,993  $  23,732  $  52,658	$	-	$	-	$	-	$ 1,915,725	

Expenditures:						
General and Administrative:						
Supervisor Fees	$	1,000	$	-	$	1,000  $	-	$	1,000  $	800  $	1,000  $	1,000  $	-	$	-	$	-	$	-	$	5,800	
FICA Taxes	77	-	77	-	77	61	77	77	-	-	-	-	444	
Engineering	1,578	2,945	135	771	-	651	3,183	-	220	-	-	-	9,483	
Attorney	5,390	4,428	1,898	4,973	3,218	3,830	3,328	1,430	-	-	-	-	28,493	
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	-	-	-	4,125	
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	-	-	-	50,812	
Website Maintenance	300	300	300	300	300	300	300	300	300	-	-	-	2,700	
Postage and Delivery	133	119	157	87	83	166	151	88	96	-	-	-	1,080	
Insurance General Liability	14,594	-	-	-	-	-	-	-	-	-	-	-	14,594	
Printing and Binding	18	24	22	3	54	35	57	17	2	-	-	-	230	
Legal Advertising	-	-	-	-	-	-	-	497	-	-	-	-	497	
Other Current Charges	64	55	51	51	51	51	111	51	51	-	-	-	532	
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  $	6,772	$	-  $	-  $	-	$ 127,165	

	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	

$	-	

$	-	

$	-	

$  22,962	
Security	1,225	1,225	1,225	1,225	1,225	1,225	1,225	1,225	1,225	-	-	-	11,025	
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	-	-	-	139,501	
Landscape - Extra to Contract	-	46,890	-	-	1,600	15,850	-	5,550	2,220	-	-	-	72,110	
Mulch	-	16,989	-	-	-	-	-	-	-	-	-	-	16,989	
Tree Trimming	36,875	-	-	-	-	-	-	-	-	-	-	-	36,875	
Lake Maintenance	800	800	800	800	800	800	800	800	800	-	-	-	7,200	
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
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-
-
-
-	-	-	-	-
-	-	-	-
-	-	-	38,276
-	-	-	-	
Subtotal Field Expenditures	$  80,810	$  96,286	$  44,308	$  23,879	$  22,489	$  64,569	$  20,852	$  43,476	$  23,056	$	-  $	-  $	-  $ 419,725	

Security Gate Service Expenditures											
Security (DML)	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$  11,500	$	-	$	-	$	-	$ 103,500	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	-	-	-	18,000	
Gate Repairs and Maintenance	3,449	7,819	4,194	1,988	1,818	2,583	3,439	7,358	4,211	-	-	-	36,857	
Building Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	287	279	344	280	236	259	265	323	-	-	-	-	2,273	
Water	115	-	-	296	-	-	34	1,190	-	-	-	-	1,634	
Phone and Internet Service	361	361	361	398	403	403	400	398	809	-	-	-	3,895	
Janitorial Services	50	50	50	50	50	50	50	50	50	-	-	-	450	
Subtotal Security Gate Service Expenditures	$	17,762	$	22,009	$	18,449	$	16,511	$	16,006	$	16,796	$	17,688	$	22,818	$	18,570	$	-	$	-	$	-	$	166,609	

,829  $ 114,323

,254

,527  $ 130,631  $ 178,184  $ 103,519  $

-  $

-  $

-  $ 1,510,419

			
$ 168,620	$  96,747	$	-  $	-  $	-  $ 1,383	

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

Clubhouse Expenditures
Alarm Monitoring	

$	270	

$	100	

$	-	

$	270	

$	-	

$	-	

$	295	

$	-	

$	-	

$	-	

$	-	

$	-	

$	935	
Club Exterior Camera Monitoring	720	720	720	720	720	720	720	720	720	-	-	-	6,480	
Pool Monitoring	995	995	995	995	995	995	995	995	995	-	-	-	8,955	
Security - Roving Guard	-	173	405	765	-	248	570	480	240	-	-	-	2,880	
Air Conditioning Maint Contract and Repairs	490	490	1,476	771	490	490	776	926	490	-	-	-	6,399	
Fitness Equipment Maintenance and Repairs	400	190	190	190	769	600	460	190	190	-	-	-	3,178	
Electric	3,257	3,291	3,142	3,491	2,996	3,032	2,464	3,058	-	-	-	-	24,731	
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	-	-	-	42,750	
Janitorial Supplies	592	241	683	413	628	314	354	639	332	-	-	-	4,196	
Landscape Maintenance	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	2,709	-	-	-	24,381	
Landscape Replacement	-	16,762	-	-	-	-	-	-	-	-	-	-	16,762	
Office Equipment Maintenance	137	151	301	137	137	137	137	137	-	-	-	-	1,275	
Management Fees	24,146	24,146	24,146	24,146	24,146	24,146	24,146	24,146	24,146	-	-	-	217,314	
Office Supplies/Clubhouse Supplies	535	269	106	685	1,284	454	259	558	659	-	-	-	4,808	
Pest Control	65	65	65	65	65	65	65	65	65	-	-	-	585	
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	-	-	-	21,735	
Repairs and Maintenance	5,120	3,060	5,052	2,748	4,668	1,995	3,740	5,808	2,637	-	-	-	34,829	
Special Events	14,028	6,075	11,277	4,790	1,605	1,475	11,370	2,285	11,515	-	-	-	64,420	
Cable/Internet	517	517	520	527	525	525	522	522	251	-	-	-	4,425	
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	-	-	-	-	14,800	
Capital Reserve	-	20,246	30,866	-	-	-	-	-	-	-	-	-	51,112	

Subtotal Clubhouse Expenditures	
$ 170,907	
$  90,619	
$ 107,705	
$  80,580  $  51,416  $  62,464  $  75,782  $ 102,325  $  55,121  $	-  $	-  $	-  $ 796,919	

Total Operations & Maintenance	$ 269,478	$ 208,914	$ 170,462	$ 120,970  $  89,912  $ 143	
Total Expenditures	$ 300,910	$ 222,888	$ 180,204	$ 134,758  $ 100,797  $ 158	

Excess (Deficiency) of Revenues over Expenditures	$ (287,602)	$  (5,480)	$ 1,221,806	$ (85,984)	$ (59,835)	$ (115,648)	$ (56,638)	$ (154,452)	$ (50,861)	$	-  $	-  $	-	$ 405,307	
												
Net Change in Fund Balance	$ (287,602)	$  (5,480)	$ 1,221,806	$ (85,984)	$ (59,835)	$ (115,648)	$ (56,638)	$ (154,452)	$ (50,861)	$	-  $	-  $	-	$ 405,307	

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	
	TOTAL	$	4,498,882.20	$	164,958.97	$	43,339.24	$	10,433.74	$	4,301,017.73	$	1,805,806.45	$  1,391,100.50	$  1,104,110.79	$	4,301,017.74	

$

100.00%
(151.98)

Percent Collected Balance Remaining to Collect