Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
February 28, 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 February 28, 2026

	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	185,536	

$	-	

$	185,536	
Petty Cash	654	-	654	
Due from General Fund	-	226,137	226,137	
Investments:
State Board of Administration - Surplus	

1,233,411	

-	

1,233,411	
State Board of Administration - Field Reserves	229,839	-	229,839	
State Board of Administration - Clubhouse Reserves	191,602	-	191,602	
BankUnited Money Market	1,064,374	-	1,064,374	
Series 2022
Interest	

-	

109	

109	
Revenue	-	1,339,515	1,339,515	
Sinking	-	84	84	
Series 2024
Interest	

-	

111	

111	
Revenue	-	1,036,570	1,036,570	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	2,911,417	$	2,602,606	$	5,514,023	

Liabilities:				
Accounts Payable	$	41,351	$	-	$	41,351	
Due to Debt Service	226,137	-	226,137	
Total Liabilities	$	267,487	$	-	$	267,487	

Fund Balance:
Nonspendable:
Deposits	$	6,000	

$	-	$	6,000	
Restricted for: Debt Service	
-	
2,602,606	
2,602,606	
Unassigned	2,637,929	-	2,637,929	
Total Fund Balances	$	2,643,929	$	2,602,606	$	5,246,535	
				
Total Liabilities & Fund Balance	$	2,911,417	$	2,602,606	$	5,514,023	

	Adopted	Prorated Budget	Actual		
	Budget	Through 02/28/26	Through 02/28/26	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	1,435,501	$	1,659,641	$	224,140	
Interest Income	75,000	31,250	32,355	1,105	
Clubhouse Income	30,000	12,500	19,696	7,196	
Other Income	-	-	3,694	3,694	
Total Revenues	$	1,899,376	$	1,479,251	$	1,715,386	$	236,135	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	5,000	$	3,600	$	1,400	
FICA Taxes	918	-	383	275	107	
Engineering	16,000	6,667	2,563	4,104	
Attorney	47,000	19,583	12,553	7,031	
Annual Audit	4,300	1,792	-	1,792	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,200	550	650	
Dissemination Agent	5,500	2,292	2,292	0	
Trustee Fees	7,500	3,125	-	3,125	
Management Fees	72,491	30,205	30,205	0	
Website Maintenance	3,600	1,500	1,500	-	
Postage and Delivery	1,500	625	565	60	
Insurance General Liability	16,918	16,918	15,470	1,448	
Printing and Binding	750	313	8	305	
Legal Advertising	1,500	625	-	625	
Other Current Charges	1,000	417	397	20	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	194,352	$	92,818	$	72,151	$	20,667	

Operations and Maintenance					
Field Expenditures
Field Management	

$	32,759	

$	13,650	

$	13,650	

$	0	
Security	14,700	6,125	6,125	-	
General Maintenance	23,084	9,618	5,567	4,051	
Landscape Maintenance	186,001	77,500	77,501	(0)	
Landscape - Extra to Contract	50,000	20,833	12,563	8,270	
Mulch	23,000	23,000	27,802	(4,802)	
Tree Trimming	60,000	60,000	140,152	(80,152)	
Lake Maintenance	9,600	4,000	4,154	(154)	
Contingency	20,000	8,333	-	8,333	
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	76,561	(28,281)	
Subtotal Field Expenditures	$	545,700	$	345,841	$	440,041	$	(94,200)	

	Adopted	Prorated Budget	Actual		
	Budget	Through 02/28/26	Through 02/28/26	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	57,500	$	57,500	$	-	
Security-Roving Guard	10,000	4,167	-	4,167	
Enhanced Security	15,000	6,250	-	6,250	
Transponders	8,500	3,542	-	3,542	
Management Fees	24,000	10,000	10,000	-	
Gate Repairs and Maintenance	46,000	19,167	14,512	4,655	
Building Repairs and Maintenance	5,000	2,083	-	2,083	
Electric	4,000	1,667	1,021	646	
Water	1,500	625	144	481	
Phone and Internet Service	5,000	2,083	2,062	22	
Janitorial Services	600	250	200	50	
Subtotal Security Gate Service Expenditures	$	257,600	$	107,333	$	85,438	$	21,895	

Clubhouse Expenditures					
Alarm Monitoring	$	1,200	$	600	$	565	$	35	
Club Exterior Camera Monitoring	8,640	3,600	2,880	720	
Pool Monitoring	11,940	4,975	4,975	-	
Security - Roving Guard	8,000	3,333	705	2,628	
Air Conditioning Maint Contract and Repairs	10,000	4,167	4,227	(60)	
Fitness Equipment Maintenance and Repairs	8,000	3,333	3,655	(322)	
Electric	42,000	17,500	11,099	6,401	
Property Insurance	53,968	53,968	50,824	3,144	
Flood Insurance	19,039	19,039	18,760	279	
Janitorial Maintenance	60,600	25,250	20,200	5,050	
Janitorial Supplies	6,000	2,500	2,355	145	
Landscape Maintenance	32,508	13,545	13,545	-	
Landscape Replacement	10,000	4,167	-	4,167	
Office Equipment Maintenance	2,000	833	697	136	
Management Fees	302,304	125,960	125,960	-	
Office Supplies/Clubhouse Supplies	7,500	3,125	1,324	1,801	
Pest Control	1,000	417	325	92	
Pool and Spa Maintenance	39,000	16,250	17,500	(1,250)	
Pool Repairs	20,000	8,333	29,459	(21,126)	
Repairs and Maintenance	60,000	25,000	9,459	15,541	
Special Events	60,000	25,000	42,312	(17,312)	
Cable/Internet	6,300	2,625	2,319	306	
Trash Collection	1,500	1,500	1,442	58	
Water and Sewer	25,000	10,417	27,666	(17,249)	
Window Cleaning/Pressure Cleaning	3,500	1,458	1,564	(106)	
Holiday Decorations	31,724	31,724	28,025	3,699	
Contingency	10,000	10,000	31,800	(21,800)	
Capital Reserve	60,000	25,000	-	25,000	
Subtotal Clubhouse Expenditures	$	901,723	$	443,619	$	453,641	$	(10,021)	
					
Total Operations and Maintenance	$	1,705,023	$	896,794	$	979,120	$	(82,326)	
					
Total Expenditures	$	1,899,376	$	989,612	$	1,051,270	$	(61,659)	
					
Excess (Deficiency) of Revenues over Expenditures	$	0	$	489,639	$	664,115	$	174,476	
					
Fund Balance - Beginning			$	1,979,814		
					
Fund Balance - Ending			$	2,643,929		

Revenues:					
Special Assessments - Tax Roll	$	1,382,295	$	1,105,836	$	1,278,502	$	172,666	
Interest Income	-	-	10,465	10,465	
Total Revenues	$	1,382,295	$	1,105,836	$	1,288,967	$	183,131	

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)	$	774,390	$	957,521	$	183,131	
					
Net Change in Fund Balance	$	(11,598)	$	774,390	$	957,521	$	183,131	
					
Fund Balance - Beginning			$	508,260		
					
Fund Balance - Ending			$	1,465,781		

Revenues:					
Special Assessments - Tax Roll	$	1,097,122	$	877,698	$	1,014,742	$	137,044	
Interest Income	1,000	417	7,384	6,967	
Total Revenues	$	1,098,122	$	878,114	$	1,022,126	$	144,011	

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)	$	680,614	$	824,626	$	144,011	
					
Net Change in Fund Balance	$	(6,878)	$	680,614	$	824,626	$	144,011	
					
Fund Balance - Beginning			$	312,199		
					
Fund Balance - Ending			$	1,136,825		

	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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,659,641	
Interest Income	5,897	4,722	5,643	8,475	7,618	-	-	-	-	-	-	-	32,355	
Clubhouse Income	-	14,690	-	-	5,006	-	-	-	-	-	-	-	19,696	
Other Income	1,200	600	-	-	1,894	-	-	-	-	-	-	-	3,694	
Total Revenues	$	7,097	$ 263,775	$ 1,347,250  $  60,850  $  36,413	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 1,715,386	

Expenditures:						
General and Administrative:						
Supervisor Fees	$	1,000	$	1,800	$	-	$	800  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	3,600	
FICA Taxes	77	138	-	61	-	-	-	-	-	-	-	-	275	
Engineering	2,124	-	-	-	439	-	-	-	-	-	-	-	2,563	
Attorney	3,665	2,640	500	3,383	2,365	-	-	-	-	-	-	-	12,553	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Roll Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Calculation	550	-	-	-	-	-	-	-	-	-	-	-	550	
Dissemination Agent	458	458	458	458	458	-	-	-	-	-	-	-	2,292	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	6,041	6,041	6,041	6,041	6,041	-	-	-	-	-	-	-	30,205	
Website Maintenance	300	300	300	300	300	-	-	-	-	-	-	-	1,500	
Postage and Delivery	177	104	79	90	115	-	-	-	-	-	-	-	565	
Insurance General Liability	15,470	-	-	-	-	-	-	-	-	-	-	-	15,470	
Printing and Binding	4	-	-	-	4	-	-	-	-	-	-	-	8	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	100	142	55	50	50	-	-	-	-	-	-	-	397	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	32,140	$	11,623	$	7,433  $	11,183  $	9,771	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	72,151	

	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	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	$  13,650	
Security	1,225	1,225	1,225	1,225	1,225	-	-	-	-	-	-	-	6,125	
General Maintenance	954	-	-	988	3,625	-	-	-	-	-	-	-	5,567	
Landscape Maintenance	15,500	15,500	15,500	15,500	15,500	-	-	-	-	-	-	-	77,501	
Landscape - Extra to Contract	-	9,263	3,300	-	-	-	-	-	-	-	-	-	12,563	
SFWMD Buffer Area Maintenance	-	-	-	-	6,900	-	-	-	-	-	-	-	6,900	
Mulch	-	27,802	-	-	-	-	-	-	-	-	-	-	27,802	
Tree Trimming	58,075	-	82,077	-	-	-	-	-	-	-	-	-	140,152	
Lake Maintenance	800	800	954	800	800	-	-	-	-	-	-	-	4,154	
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	-	-	-	-	-	-	-	-	-	-	76,561	
Subtotal Field Expenditures	$  98,690	$ 149,151	$ 113,937	$  28,983	$  49,280	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 440,041	

Security Gate Service Expenditures
Security (DML)	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$  11,500	

$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  57,500	
Security-Roving Guard	-	-	-	-	-	-	-	-	-	-	-	-	-	
Enhanced Security	-	-	-	-	-	-	-	-	-	-	-	-	-	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	2,000	2,000	2,000	2,000	-	-	-	-	-	-	-	10,000	
Gate Repairs and Maintenance	1,963	2,149	3,892	2,801	3,707	-	-	-	-	-	-	-	14,512	
Building Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	266	277	271	207	-	-	-	-	-	-	-	-	1,021	
Water	34	35	39	36	-	-	-	-	-	-	-	-	144	
Phone and Internet Service	397	397	417	422	427	-	-	-	-	-	-	-	2,062	
Computer, Equipment and Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Janitorial Services	50	50	50	50	-	-	-	-	-	-	-	-	200	
Contingency		-		-		-		-		-		-			-			-			-			-			-			-			-	
Subtotal Security Gate Service Expenditures	$	16,211	$	16,408	$	18,168	$	17,017	$	17,635	$		-	$		-	$		-	$		-	$		-	$		-	$		-	$	85,438	

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

Clubhouse Expenditures																					
Alarm Monitoring	$	270	$	-	$	-	$	270	$	25  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	565	
Club Exterior Camera Monitoring	720	720	720	720	-	-		-		-		-		-		-		-		2,880	
Pool Monitoring	995	995	995	995	995	-		-		-		-		-		-		-		4,975	
Security - Roving Guard	-	555	150	-	-	-		-		-		-		-		-		-		705	
Air Conditioning Maint Contract and Repairs	606	1,140	490	490	1,500	-		-		-		-		-		-		-		4,227	
Fitness Equipment Maintenance and Repairs	513	905	190	1,079	968	-		-		-		-		-		-		-		3,655	
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	-	-		-		-		-		-		-		-		20,200	
Janitorial Supplies	758	334	106	800	358	-		-		-		-		-		-		-		2,355	
Landscape Maintenance	2,709	2,709	2,709	2,709	2,709	-		-		-		-		-		-		-		13,545	
Landscape Replacement	-	-	-	-	-	-		-		-		-		-		-		-		-	
Office Equipment Maintenance	137	148	137	137	137	-		-		-		-		-		-		-		697	
Management Fees	25,192	25,192	25,192	25,192	25,192	-		-		-		-		-		-		-		125,960	
Office Supplies/Clubhouse Supplies	138	135	365	686	-	-		-		-		-		-		-		-		1,324	
Pest Control	65	65	65	65	65	-		-		-		-		-		-		-		325	
Pool and Spa Maintenance	3,500	3,500	3,500	3,500	3,500	-		-		-		-		-		-		-		17,500	
Pool Repairs	16,048	6,625	3,576	3,210	-	-		-		-		-		-		-		-		29,459	
Repairs and Maintenance	2,204	851	2,211	1,824	2,369	-		-		-		-		-		-		-		9,459	
Special Events	14,141	11,161	8,915	5,547	2,548	-		-		-		-		-		-		-		42,312	
Cable/Internet	417	376	652	440	433	-		-		-		-		-		-		-		2,319	
Trash Collection	-	-	1,442	-	-	-		-		-		-		-		-		-		1,442	
Water and Sewer	21,674	-	-	-	5,992	-		-		-		-		-		-		-		27,666	
Window Cleaning/Pressure Cleaning	-	-	1,076	-	489	-		-		-		-		-		-		-		1,564	
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	$	62,604	$	47,280  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$	453,641	
																			
Total Operations & Maintenance	$ 297,027	$ 259,869	$	199,425	$ 108,604	$ 114,195  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$	979,120	
																
Total Expenditures	$ 329,167	$ 271,492	$	206,858	$ 119,787	$ 123,967  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$ 1,051,270	
															
Excess (Deficiency) of Revenues over Expenditures	$ (322,070)	$  (7,717)	$ 1,140,392	$ (58,937)	$ (87,554)  $		-  $		-  $		-  $		-  $		-  $		-  $		-	$ 664,115	
																					
Net Change in Fund Balance	$ (322,070)	$  (7,717)	$ 1,140,392	$ (58,937)	$ (87,554) $		-  $		-  $		-  $		-  $		-  $		-  $		-	$ 664,115	

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	
	TOTAL	$	4,151,665.04	$	163,370.44	$	39,884.27	$	4,474.05	$	3,952,884.38	$	1,659,640.71	$  1,278,501.92	$  1,014,741.76	$	3,952,884.39	

$

92.29%
347,065.18

Percent Collected
Balance Remaining to Collect