Lakes by the Bay South
Community Development District

Unaudited Financial Reporting
October 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	

Balance Sheet October 31, 2025

	General Fund	Debt Service Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	88,107	

$	-	

$	88,107	
Petty Cash	654	-	654	
Assessments Receivable	-	-	-	
Due from General Fund	-	64	64	
Investments:
State Board of Administration - Surplus	

24,535	

-	

24,535	
State Board of Administration - Field Reserves	226,867	-	226,867	
State Board of Administration - Clubhouse Reserves	189,125	-	189,125	
BankUnited Money Market	1,252,455	-	1,252,455	
Series 2022
Interest	

-	

331,447	

331,447	
Revenue	-	178,330	178,330	
Sinking	-	83	83	
Series 2024
Interest	

-	

197,547	

197,547	
Revenue	-	115,515	115,515	
Deposits-Electric	6,000	-	6,000	
Total Assets	$	1,787,744	$	823,066	$	2,610,810	

Liabilities:				
Accounts Payable	$	83,586	$	-	$	83,586	
Due to Debt Service	64	-	64	
Total Liabilities	$	83,650	$	-	$	83,650	

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

$	-

823,066	

$	6,000

823,066	
Unassigned	1,698,094	-	1,698,094	
Total Fund Balances	$	1,704,094	$	823,066	$	2,527,160	
				
Total Liabilities & Fund Balance	$	1,787,744	$	823,066	$	2,610,810	

	Adopted	Prorated Budget	Actual		
	Budget	Through 10/31/25	Through 10/31/25	Variance	

Revenues:					
Special Assessments - Tax Roll	$	1,794,376	$	-	$	-	$	-	
Interest Income	75,000	6,250	5,897	(353)	
Clubhouse Income	30,000	2,500	-	(2,500)	
Other Income	-	-	1,200	1,200	
Total Revenues	$	1,899,376	$	8,750	$	7,097	$	(1,653)	

Expenditures:					
General and Administrative:					
Supervisor Fees	$	12,000	$	1,000	$	1,000	$	-	
FICA Taxes	918	-	77	77	-	
Engineering	16,000	1,333	-	1,333	
Attorney	47,000	3,917	-	3,917	
Annual Audit	4,300	358	-	358	
Assessment Roll Administration	2,000	2,000	2,000	-	
Arbitrage Calculation	1,200	1,200	550	650	
Dissemination Agent	5,500	458	458	0	
Trustee Fees	7,500	625	-	625	
Management Fees	72,491	6,041	6,041	0	
Website Maintenance	3,600	300	300	-	
Postage and Delivery	1,500	125	153	(28)	
Insurance General Liability	16,918	16,918	15,470	1,448	
Printing and Binding	750	63	4	58	
Legal Advertising	1,500	125	-	125	
Other Current Charges	1,000	83	100	(16)	
Dues, Licenses and Subscriptions	175	175	175	-	
Total General and Administrative	$	194,352	$	34,798	$	26,328	$	8,470	

Operations and Maintenance					
Field Expenditures
Field Management	

$	32,759	

$	2,730	

$	2,730	

$	0	
Security	14,700	1,225	-	1,225	
General Maintenance	23,084	1,924	954	969	
Landscape Maintenance	186,001	15,500	15,500	(0)	
Landscape - Extra to Contract	50,000	4,167	-	4,167	
Mulch	23,000	1,917	-	1,917	
Tree Trimming	60,000	30,000	58,075	(28,075)	
Lake Maintenance	9,600	800	800	-	
Contingency	20,000	1,667	-	1,667	
Pressure Washing	20,000	1,667	-	1,667	
Culvert Cleaning/Inspection	20,000	1,667	2,150	(483)	
Holiday Decorations	38,276	19,138	16,301	2,837	
Cleaning Reserve Area	48,280	4,023	954	3,069	
Subtotal Field Expenditures	$	545,700	$	86,423	$	97,465	$	(11,042)	

	Adopted	Prorated Budget	Actual		
	Budget	Through 10/31/25	Through 10/31/25	Variance	

Security Gate Service Expenditures					
Security (DML)	$	138,000	$	11,500	$	-	$	11,500	
Security-Roving Guard	10,000	833	-	833	
Enhanced Security	15,000	1,250	-	1,250	
Transponders	8,500	708	-	708	
Management Fees	24,000	2,000	2,000	-	
Gate Repairs and Maintenance	46,000	3,833	1,821	2,013	
Building Repairs and Maintenance	5,000	417	-	417	
Electric	4,000	333	-	333	
Water	1,500	125	34	91	
Phone and Internet Service	5,000	417	795	(378)	
Janitorial Services	600	50	50	-	
Subtotal Security Gate Service Expenditures	$	257,600	$	21,467	$	4,700	$	16,767	

Clubhouse Expenditures					
Alarm Monitoring	$	1,200	$	300	$	270	$	30	
Club Exterior Camera Monitoring	8,640	720	-	720	
Pool Monitoring	11,940	995	-	995	
Security - Roving Guard	8,000	667	-	667	
Air Conditioning Maint Contract and Repairs	10,000	833	606	227	
Fitness Equipment Maintenance and Repairs	8,000	667	513	154	
Electric	42,000	3,500	-	3,500	
Property Insurance	53,968	53,968	50,824	3,144	
Flood Insurance	19,039	19,039	18,760	279	
Janitorial Maintenance	60,600	5,050	5,050	-	
Janitorial Supplies	6,000	500	444	56	
Landscape Maintenance	32,508	2,709	2,709	-	
Landscape Replacement	10,000	833	-	833	
Office Equipment Maintenance	2,000	167	137	29	
Management Fees	302,304	25,192	25,192	-	
Office Supplies/Clubhouse Supplies	7,500	625	138	487	
Pest Control	1,000	83	65	18	
Pool and Spa Maintenance	39,000	3,250	3,500	(250)	
Pool Repairs	20,000	1,667	16,048	(14,381)	
Repairs and Maintenance	60,000	5,000	2,204	2,796	
Special Events	60,000	5,000	14,141	(9,141)	
Cable/Internet	6,300	525	417	108	
Trash Collection	1,500	125	-	125	
Water and Sewer	25,000	2,083	-	2,083	
Window Cleaning/Pressure Cleaning	3,500	292	-	292	
Holiday Decorations	31,724	15,862	14,620	1,242	
Contingency	10,000	833	-	833	
Capital Reserve	60,000	5,000	-	5,000	
Subtotal Clubhouse Expenditures	$	901,723	$	155,485	$	155,639	$	(154)	
					
Total Operations and Maintenance	$	1,705,023	$	263,375	$	257,804	$	5,571	
					
Total Expenditures	$	1,899,376	$	298,173	$	284,131	$	14,042	
					
Excess (Deficiency) of Revenues over Expenditures	$	0	$	(289,423)	$	(277,035)	$	12,388	
					
Fund Balance - Beginning			$	1,981,128		
					
Fund Balance - Ending			$	1,704,094		

Revenues:		
Special Assessments - Tax Roll Interest Income	$	1,382,295
-	$	-	$	-
-	1,635	$	-
1,635	
Total Revenues	$	1,382,295	$	-	$	1,635	$	1,635	

Expenditures:					
Interest - 11/1	$	331,447	$	-	$	-	$	-	
Interest - 5/1	331,447		-	-	-	
Principal - 5/1	731,000		-	-	-	
Total Expenditures	$	1,393,893	$	-	$	-	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(11,598)	$	-	$	1,635	$	1,635	
					
Net Change in Fund Balance	$	(11,598)	$	-	$	1,635	$	1,635	
					
Fund Balance - Beginning			$	508,260		
					
Fund Balance - Ending			$	509,896		

Revenues:		
Special Assessments - Tax Roll	$	1,097,122	$	-	$	-	$	-	
Interest Income	1,000		83	971		888	
Total Revenues	$	1,098,122	$	83	$	971	$	888	

Expenditures:							
Interest - 11/1	$	197,500	$	-	$	-	$	-	
Interest - 5/1	197,500		-	-		-	
Principal - 5/1	710,000		-	-		-	
Total Expenditures	$	1,105,000	$	-	$	-	$	-	
							
Excess (Deficiency) of Revenues over Expenditures	$	(6,878)	$	83	$	971	$	888	
							
Net Change in Fund Balance	$	(6,878)	$	83	$	971	$	888	
							
Fund Balance - Beginning				$	312,199			
							
Fund Balance - Ending				$	313,170			

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

Revenues:

Special Assessments - Tax Roll	$	-	$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	
Interest Income	5,897	-	-	-	-	-	-	-	-	-	-	-	5,897	
Clubhouse Income	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Income	1,200	-	-	-	-	-	-	-	-	-	-	-	1,200	
Total Revenues	$	7,097  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,097	

Expenditures:

General and Administrative:

Supervisor Fees	$	1,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,000	
FICA Taxes	77	-	-	-	-	-	-	-	-	-	-	-	77	
Engineering	-	-	-	-	-	-	-	-	-	-	-	-	-	
Attorney	-	-	-	-	-	-	-	-	-	-	-	-	-	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Roll Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Calculation	550	-	-	-	-	-	-	-	-	-	-	-	550	
Dissemination Agent	458	-	-	-	-	-	-	-	-	-	-	-	458	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	6,041	-	-	-	-	-	-	-	-	-	-	-	6,041	
Website Maintenance	300	-	-	-	-	-	-	-	-	-	-	-	300	
Postage and Delivery	153	-	-	-	-	-	-	-	-	-	-	-	153	
Insurance General Liability	15,470	-	-	-	-	-	-	-	-	-	-	-	15,470	
Printing and Binding	4	-	-	-	-	-	-	-	-	-	-	-	4	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	100	-	-	-	-	-	-	-	-	-	-	-	100	
Dues, Licenses and Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	26,328	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	26,328	

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

Operations & Maintenance

Field Expenditures		
Field Management	$	2,730	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	2,730	
Security	-	-	-	-	-	-	-	-	-	-	-	-	-	
General Maintenance	954	-	-	-	-	-	-	-	-	-	-	-	954	
Landscape Maintenance	15,500	-	-	-	-	-	-	-	-	-	-	-	15,500	
Landscape - Extra to Contract	-	-	-	-	-	-	-	-	-	-	-	-	-	
Mulch	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Trimming	58,075	-	-	-	-	-	-	-	-	-	-	-	58,075	
Lake Maintenance	800	-	-	-	-	-	-	-	-	-	-	-	800	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pressure Washing	-	-	-	-	-	-	-	-	-	-	-	-	-	
Culvert Cleaning/Inspection	2,150	-	-	-	-	-	-	-	-	-	-	-	2,150	
Reserves	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Decorations	16,301	-	-	-	-	-	-	-	-	-	-	-	16,301	
Cleaning Reserve Area	954	-	-	-	-	-	-	-	-	-	-	-	954	

Subtotal Field Expenditures	$  97,465	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  97,465	

Security Gate Service Expenditures			
Security (DML)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Transponders	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Gate Repairs and Maintenance	1,821	-	-	-	-	-	-	-	-	-	-	-	1,821	

Building Repairs and Maintenance
Electric	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-
-	-	-
-	-	
Water	34	-	-	-	-	-	-	-	-	-	-	-	34	
Phone and Internet Service	795	-	-	-	-	-	-	-	-	-	-	-	795	
Janitorial Services	50	-	-	-	-	-	-	-	-	-	-	-	50	

Subtotal Security Gate Service Expenditures	$	4,700  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	4,700

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

Clubhouse Expenditures													
Alarm Monitoring	$	270	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	270	
Club Exterior Camera Monitoring	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pool Monitoring	-	-	-	-	-	-	-	-	-	-	-	-	-	
Security - Roving Guard	-	-	-	-	-	-	-	-	-	-	-	-	-	
Air Conditioning Maint Contract and Repairs	606	-	-	-	-	-	-	-	-	-	-	-	606	
Fitness Equipment Maintenance and Repairs	513	-	-	-	-	-	-	-	-	-	-	-	513	
Electric	-	-	-	-	-	-	-	-	-	-	-	-	-	
Property Insurance	50,824	-	-	-	-	-	-	-	-	-	-	-	50,824	
Flood Insurance	18,760	-	-	-	-	-	-	-	-	-	-	-	18,760	
Janitorial Maintenance	5,050	-	-	-	-	-	-	-	-	-	-	-	5,050	
Janitorial Supplies	444	-	-	-	-	-	-	-	-	-	-	-	444	
Landscape Maintenance	2,709	-	-	-	-	-	-	-	-	-	-	-	2,709	
Landscape Replacement	-	-	-	-	-	-	-	-	-	-	-	-	-	
Office Equipment Maintenance	137	-	-	-	-	-	-	-	-	-	-	-	137	
Management Fees	25,192	-	-	-	-	-	-	-	-	-	-	-	25,192	
Office Supplies/Clubhouse Supplies	138	-	-	-	-	-	-	-	-	-	-	-	138	
Pest Control	65	-	-	-	-	-	-	-	-	-	-	-	65	
Pool and Spa Maintenance	3,500	-	-	-	-	-	-	-	-	-	-	-	3,500	
Pool Repairs	16,048	-	-	-	-	-	-	-	-	-	-	-	16,048	
Repairs and Maintenance	2,204	-	-	-	-	-	-	-	-	-	-	-	2,204	
Special Events	14,141	-	-	-	-	-	-	-	-	-	-	-	14,141	
Cable/Internet	417	-	-	-	-	-	-	-	-	-	-	-	417	
Trash Collection	-	-	-	-	-	-	-	-	-	-	-	-	-	
Water and Sewer	-	-	-	-	-	-	-	-	-	-	-	-	-	
Window Cleaning/Pressure Cleaning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Decorations	14,620	-	-	-	-	-	-	-	-	-	-	-	14,620	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Capital Reserve	-	-	-	-	-	-	-	-	-	-	-	-	-	

Subtotal Clubhouse Expenditures	$ 155,639	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 155,639	
			
Total Operations & Maintenance	$ 257,804	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 257,804	
			
Total Expenditures	$ 284,131	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 284,131	
			
Excess (Deficiency) of Revenues over Expenditures	$ (277,035)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (277,035)	
			
Net Change in Fund Balance	$ (277,035)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (277,035)	

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