Downtown Doral South	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1-2

3-5

6-7

8-9

General Fund

Narratives

Debt Service Fund Series 2018-1

Debt Service Fund Series 2018-2

10	Assessment Schedule

Downtown Doral South	
Community Development District	
Adopted Budget	
General Fund	

Adopted	Actuals Thru	Projected Next	Projected Thru	Adopted	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	1,590,003	$	1,552,031	$	37,972	$	1,590,003	$	1,590,008	
Special Assessments - Direct	-	11,122	-	11,122	-	
Interest income	25,000	82,789	25,000	107,789	65,000	
Carry Forward Surplus	288,492	-	-	-	228,217	

TOTAL REVENUES	$  1,903,495	$  1,645,942	$	62,972	$  1,708,914	$  1,883,225	

EXPENDITURES:

Administrative						
Engineering	$	25,000	$	32,516	$	14,000	$	46,516	$	17,500	
Attorney	25,000	6,475	$4,625	11,100	25,000	
Annual Audit	7,500	7,700	-	7,700	7,900	
Assessment Administration	5,000	5,000	-	5,000	5,350	
Arbitrage Rebate	1,100	550	550	1,100	1,100	
Dissemination Agent	2,500	1,667	$834	2,501	2,675	
Trustee Fees	10,000	-	10,000	10,000	10,000	
Management Fees	42,800	28,533	14,267	42,800	45,796	
Website Maintenance	1,200	800	400	1,200	1,284	
Telephone	100	-	30	30	100	
Postage & Delivery	1,000	332	300	632	1,000	
Insurance General Liability	7,260	6,850	-	6,850	7,260	
Printing & Binding	1,000	208	250	458	1,000	
Legal Advertising	1,000	-	750	750	1,000	
Other Current Charges	750	219	500	719	750	
Office Supplies	350	-	50	50	350	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Property Taxes	500	-	-	-	-	

TOTAL ADMINISTRATIVE	$	132,235	$	91,025	$	46,556	$	137,581	$	128,240	

Downtown Doral South	
Community Development District	
Adopted Budget	
General Fund	

Adopted	Actuals Thru	Projected Next	Projected Thru	Adopted	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

Operations & Maintenance
Field Expenditures

Field Management	$	20,700	$	13,800	$	6,900	$	20,700	$	22,149	
Electric - Street Lighting	36,000	18,927	14,871	33,798	36,000	
Electric - Fountains	105,000	8,535	6,706	15,241	50,000	
Irrigation-Potable Water	225,000	224,534	75,000	299,534	280,000	
Property Insurance	25,000	-	-	-	25,000	
Pest Control	50,000	-	25,000	25,000	50,000	
Landscape Maintenance	450,000	199,728	99,864	299,592	309,000	
Landscape Replacement	200,000	65,380	100,000	165,380	200,000	
Royal Palm Treatment	120,000	81,280	30,000	111,280	120,000	
Pressure Cleaning - Overall	60,000	47,365	30,000	77,365	75,000	
General Maintenance	100,000	47,415	25,000	72,415	100,000	
Wall Maintenance	10,000	-	6,000	6,000	10,000	
Fountain Maintenance	17,500	9,000	6,500	15,500	17,500	
Lake Fountain Maintenance	8,000	-	5,000	5,000	8,000	
Irrigation Maintenance	98,969	23,200	11,600	34,800	36,000	
Lake Maintenance	28,306	6,874	8,000	14,874	28,306	
Fertilization	50,000	28,400	14,200	42,600	45,000	
Irrigation Repairs	20,000	27,335	7,500	34,835	20,000	
Maintenance Personnel	41,600	-	-	-	41,600	
Wall Painting Reserve	20,000	-	12,500	12,500	50,000	
Reserves	50,000	-	25,000	25,000	200,000	
Contingency/Holiday Decorations	35,185	21,702	10,000	31,702	31,430	

TOTAL FIELD EXPENDITURES	$  1,771,260	$	823,475	$	519,641	$  1,343,116	$  1,754,985	

TOTAL EXPENDITURES	$  1,903,495	$	914,500	$	566,197	$  1,480,697	$  1,883,225	

EXCESS REVENUES (EXPENDITURES)	$	0	$	731,442	$	(503,225)	$	228,217	$	-	

Downtown Doral South	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

Expenditures - Administrative	

Engineering	
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.	
Attorney	
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District has contracted LLS Tax Solutions Inc. to perform the calculations.	
Dissemination Agent	
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.	
Trustee Fees	
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.	
Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Website Maintenance	
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Downtown Doral South	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	

Insurance General Liability	
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.	
Printing and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising	
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Other Current Charges	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Department of Commerce for $175.	
Expenditures – Field	

Field Management	
The supervision and reporting to the Board of Supervisors of the field maintenance services as provided by the different vendors.	
Electric - Street Lighting	
The District will open accounts with FPL for the District street lighting.	
Electric - Fountains	
The District will open accounts with FPL for the fountains.	
Irrigation - Potable Water	
The District has accounts with Miami-Dade Water Department for irrigation of the District’s common areas.	
Property Insurance	
Property coverage for fountains and physical assets of the District.	
Pest Control	
The District contracted Southern Plant and Pest Services for pest control and fertilization services throughout the district	
Landscape Maintenance	
The District has contracted with Equator Landscaping for the landscape maintenance of the District’s common areas.
Services include mowing, edging, shrub care, Palm and tree care, weed control, fertilization, pest control and irrigation maintenance.	
Landscape Replacement	
The cost to replace sod, bushes, annuals, perennials as needed.	
Royal Palm Treatment	
The District has entered into a contract with Equator Landscaping to treat the Royal Palms.	

Downtown Doral South	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Field (continued)	
Pressure Cleaning - Overall	
Pressure cleaning of sidewalks and walkways.	
General Maintenance	
Includes general maintenance and repairs.	
Wall Maintenance	
Includes maintenance and repairs for the perimeter wall.	
Fountain Maintenance	
The District has entered into a contract with Florida’s Bright & Blue Pools to maintain the fountains. Services include:	
-Test, balance and maintain chemicals	
-Vacuum, brush, clean all surfaces	
-Backwash filters	
-Clean skimmer baskets	
-Monitor gauges and flows	
Lake Fountain Maintenance	
The District has entered into a contract with Collier Water Systems to maintain the fountains. Services include:	
-Inspect & adjust controls	
-Clean fountain intakes underwater	
-Clean fountain ballasts	
-Clean fountain light lenses	
-Clean fountain heads and display nozzles	
Irrigation Maintenance	
The District contracted Equator Landscaping to maintain the irrigation system throughout the district.	
Lake Maintenance	
Includes monthly cleaning of all District lakes. The District is contracted with The Lake Doctors for these services.	
Fertilization	
The District contracted PowerX for Lawn/Ornamentals/Foliar pest control service.	
Irrigation Repairs	
Irrigation system repairs and materials.	
Maintenance Personnel	
District personnel for the Maintenance of the District.	
Wall Painting Reserve	
Funds for future repainting of the wall.	
Reserves	
Funds set aside for future replacements of capital related items.	
Contingency/Holiday Decorations	
Represents any un-budgeted expense related to the operations and maintenance of the district.	

Downtown Doral South	
Community Development District	
Adopted Budget	
Debt Service Series 2018 Area One Special Assessment Bonds	

Adopted	Actuals Thru	Projected Next	Projected Thru	Adopted	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	1,146,840	$	1,097,317	$	49,523	$	1,146,840	$	1,136,448	
Interest Earnings	-	38,528	4,000	42,528	-	
Carry Forward Surplus (1)	610,498	430,869	-	430,869	469,692	

TOTAL REVENUES	$  1,757,338	$  1,566,714	$	53,523	$	1,620,237	$  1,606,140	

EXPENDITURES:

Interest 11/1	$	402,773	$	402,773	$	-	$	402,773	$	394,838	
Principal 5/1	345,000	-	345,000	345,000	360,000	
Interest - 5/1	402,773	402,773	-	402,773	394,838	

TOTAL EXPENDITURES	$  1,150,545	$	805,545	$	345,000	$	1,150,545	$  1,149,675	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

TOTAL EXPENDITURES	$  1,150,545	$	805,545	$	345,000	$	1,150,545	$  1,149,675	

EXCESS REVENUES (EXPENDITURES)	$	606,793	$	761,169	$	(291,477)	$	469,692	$	456,465	

Interest Due 11/1/25	$386,557.50	
		$386,557.50 	

(1) Carry Forward is Net of Reserve Requirement

Downtown Doral South	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 Area One Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/18	$	17,970,000	$	-	$	235,919	$	235,919	
05/01/19	17,970,000	4.600%	275,000	446,128		
11/01/19	17,695,000		-	439,803	1,160,930.00	
05/01/20	17,695,000	4.600%	285,000	439,803		
11/01/20	17,410,000		-	433,248	1,158,050.00	
05/01/21	17,410,000	4.600%	300,000	433,248		
11/01/21	17,110,000		-	426,348	1,159,595.00	
05/01/22	17,110,000	4.600%	315,000	426,348		
11/01/22	16,795,000		-	419,103	1,160,450.00	
05/01/23	16,795,000	4.600%	710,000	419,103		
11/01/23	16,085,000		-	402,773	1,531,875.00	
05/01/24	16,085,000	4.600%	345,000	402,773		
11/01/24	15,740,000		-	394,838	394,837.50	
05/01/25	15,740,000	4.600%	360,000	394,838		
11/01/25	15,380,000		-	386,558	1,141,395.00	
05/01/26	15,380,000	4.600%	375,000	386,558		
11/01/26	15,005,000		-	377,933	1,139,490.00	
05/01/27	15,005,000	4.600%	395,000	377,933		
11/01/27	14,610,000		-	368,848	1,141,780.00	
05/01/28	14,610,000	4.600%	415,000	368,848		
11/01/28	14,195,000		-	359,303	1,143,150.00	
05/01/29	14,195,000	5.000%	425,000	359,303		
11/01/29	13,770,000		-	348,678	1,132,980.00	
05/01/30	13,770,000	5.000%	445,000	348,678		
11/01/30	13,325,000		-	337,553	1,131,230.00	
05/01/31	13,325,000	5.000%	465,000	337,553		
11/01/31	12,860,000		-	325,928	1,128,480.00	
05/01/32	12,860,000	5.000%	490,000	325,928		
11/01/32	12,370,000		-	313,678	1,129,605.00	
05/01/33	12,370,000	5.000%	515,000	313,678		
11/01/33	11,855,000		-	300,803	1,129,480.00	
05/01/34	11,855,000	5.000%	540,000	300,803		
11/01/34	11,315,000		-	287,303	1,128,105.00	
05/01/35	11,315,000	5.000%	570,000	287,303		
11/01/35	10,745,000		-	273,053	1,130,355.00	
05/01/36	10,745,000	5.000%	600,000	273,053		
11/01/36	10,145,000		-	258,053	1,131,105.00	
05/01/37	10,145,000	5.000%	630,000	258,053		
11/01/37	9,515,000		-	242,303	1,130,355.00	
05/01/38	9,515,000	5.000%	660,000	242,303		
11/01/38	8,855,000		-	225,803	1,128,105.00	
02/01/39	8,855,000	5.100%	695,000	225,803		
11/01/39	8,160,000		-	208,080	1,128,882.50	
05/01/40	8,160,000	5.100%	735,000	208,080		
11/01/40	7,425,000		-	189,338	1,132,417.50	
05/01/41	7,425,000	5.100%	770,000	189,338		
11/01/41	6,655,000		-	169,703	1,129,040.00	
05/01/42	6,655,000	5.100%	810,000	169,703		
11/01/42	5,845,000		-	149,048	1,128,750.00	
05/01/43	5,845,000	5.100%	855,000	149,048		
11/01/43	4,990,000		-	127,245	1,131,292.50	
05/01/44	4,990,000	5.100%	900,000	127,245		
11/01/44	4,090,000		-	104,295	1,131,540.00	
05/01/45	4,090,000	5.100%	945,000	104,295		
11/01/45	3,145,000		-	80,198	1,129,492.50	
05/01/46	3,145,000	5.100%	995,000	80,198		
11/01/46	2,150,000		-	54,825	1,130,022.50	
05/01/47	2,150,000	5.100%	1,050,000	54,825		
11/01/47	1,100,000		-	28,050	1,132,875.00	
05/01/48	1,100,000	5.100%	1,100,000	28,050	1,128,050.00	

Total	$	15,740,000	$	11,822,815	$	27,562,815	

Downtown Doral South	
Community Development District	
Adopted Budget	
Debt Service Series 2018 Area Two Special Assessment Bonds	

Adopted	Actuals Thru	Projected Next	Projected Thru	Adopted	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	1,441,395	$	1,414,079	$	27,316	$	1,441,395	$	1,441,395	
Interest Earnings	-	59,645	5,000	64,645	-	
Carry Forward Surplus (1)	938,085	955,143	-	955,143	1,033,942	

TOTAL REVENUES	$  2,379,480	$  2,428,867	$	32,316	$	2,461,183	$  2,475,337	

EXPENDITURES:

Interest 12/15	$	502,834	$	502,834	$	-	$	502,834	$	494,406	
Principal 12/15	435,000	430,000	-	430,000	450,000	
Interest 6/15	494,406	-	494,406	494,406	484,844	

TOTAL EXPENDITURES	$  1,432,241	$	932,834	$	494,406	$	1,427,241	$  1,429,250	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

TOTAL EXPENDITURES	$  1,432,241	$	932,834	$	494,406	$	1,427,241	$  1,429,250	

EXCESS REVENUES (EXPENDITURES)	$	947,239	$  1,496,033	$	(462,091)	$	1,033,942	$  1,046,087	

Interest Due 12/15/25	$484,843.75	
Principal Due 12/15/25		$470,000.00 	
		$954,843.75 	

(1) Carry Forward is Net of Reserve Requirement

Downtown Doral South	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 Area Two Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/23	$	20,920,000	3.875%	$	430,000	$	502,738	$	1,460,475	
06/15/24	20,490,000		-	494,406		
12/15/24	20,490,000	4.250%	450,000	494,406	494,406.25	
06/15/25	20,040,000		-	484,844		
12/15/25	20,040,000	4.250%	470,000	484,844	1,439,687.50	
06/15/26	19,570,000		-	474,856		
12/15/26	19,570,000	4.250%	490,000	474,856	1,439,712.50	
06/15/27	19,080,000		-	464,444		
12/15/27	19,080,000	4.250%	510,000	464,444	1,438,887.50	
06/15/28	18,570,000		-	453,606		
12/15/28	18,570,000	4.250%	535,000	453,606	1,442,212.50	
06/15/29	18,035,000		-	442,238		
12/15/29	18,035,000	4.750%	555,000	442,238	1,439,475.00	
06/15/30	17,480,000		-	429,056		
12/15/30	17,480,000	4.750%	580,000	429,056	1,438,112.50	
06/15/31	16,900,000		-	415,281		
12/15/31	16,900,000	4.750%	610,000	415,281	1,440,562.50	
06/15/32	16,290,000		-	400,794		
12/15/32	16,290,000	4.750%	640,000	400,794	1,441,587.50	
06/15/33	15,650,000		-	385,594		
12/15/33	15,650,000	4.750%	670,000	385,594	1,441,187.50	
06/15/34	14,980,000		-	369,681		
12/15/34	14,980,000	4.750%	700,000	369,681	1,439,362.50	
06/15/35	14,280,000		-	353,056		
12/15/35	14,280,000	4.750%	735,000	353,056	1,441,112.50	
06/15/36	13,545,000		-	335,600		
12/15/36	13,545,000	4.750%	770,000	335,600	1,441,200.00	
06/15/37	12,775,000		-	317,313		
12/15/37	12,775,000	4.750%	805,000	317,313	1,439,625.00	
06/15/38	11,970,000		-	298,194		
12/15/38	11,970,000	4.750%	845,000	298,194	1,441,387.50	
06/15/39	11,125,000		-	278,125		
12/15/39	11,125,000	5.000%	885,000	278,125	1,441,250.00	
06/15/40	10,240,000		-	256,000		
12/15/40	10,240,000	5.000%	930,000	256,000	1,442,000.00	
06/15/41	9,310,000		-	232,750		
12/15/41	9,310,000	5.000%	975,000	232,750	1,440,500.00	
06/15/42	8,335,000		-	208,375		
12/15/42	8,335,000	5.000%	1,025,000	208,375	1,441,750.00	
06/15/43	7,310,000		-	182,750		
12/15/43	7,310,000	5.000%	1,075,000	182,750	1,440,500.00	
06/15/44	6,235,000		-	155,875		
12/15/44	6,235,000	5.000%	1,130,000	155,875	1,441,750.00	
06/15/45	5,105,000		-	127,625		
12/15/45	5,105,000	5.000%	1,185,000	127,625	1,440,250.00	
06/15/46	3,920,000		-	98,000		
12/15/46	3,920,000	5.000%	1,245,000	98,000	1,441,000.00	
06/15/47	2,675,000		-	66,875		
12/15/47	2,675,000	5.000%	1,305,000	66,875	1,438,750.00	
06/15/48	1,370,000		-	34,250		
12/15/48	1,370,000	5.000%	1,370,000	34,250	1,438,500.00	

Total	$	20,490,000	$	15,024,769	$	35,064,769	

Downtown Doral South	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds
2018-1
Units	Bonds
2018-2
Units	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

Area 2018-1										Total	Total	Total	
Townhomes	34	34	0	$1,263.16	$1,263.16	$0.00	$2,187.72	$2,187.72	$0.00	$3,450.88	$3,450.88	$0.00	
Single Family	265	265	0	$1,263.16	$1,263.16	$0.00	$2,396.06	$2,396.06	$0.00	$3,659.22	$3,659.22	$0.00	
Estate Homes	123	123	0	$1,263.16	$1,263.16	$0.00	$3,958.72	$3,958.72	$0.00	$5,221.88	$5,221.88	$0.00	

Area 2018-2													
Condoinium	398	0	398	$1,263.16	$1,263.16	$0.00	$1,560.56	$1,560.56	$0.00	$2,823.72	$2,823.72	$0.00	
Cluster	466	0	464	$1,263.16	$1,263.16	$0.00	$1,773.37	$1,773.37	$0.00	$3,036.53	$3,036.53	$0.00	
Townhomes	39	0	39	$1,263.16	$1,263.16	$0.00	$1,879.77	$1,879.77	$0.00	$3,142.93	$3,142.93	$0.00	
Total	1325	422	901