Adopted Budget	
Fiscal Year 2024	

Baywinds	
Community Development District	

July 6, 2023

Baywinds	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Narrative	

Page 1-2	
Page 3-5	

Debt Service Fund - Series 2017A	
Budget	
Amortization Schedule 2017A-1	
Amortization Schedule 2017A-2	

Page 6	
Page 7	
Page 8	

Baywinds	
Community Development District	

Adopted	
Budget	
FY 2023	

Actual	
thru	
5/31/2023	

Projected	
Next	
4 Months	

Total	
Projected at	
9/30/2023	

Adopted	
Budget	
FY 2024	

Description

Revenues	
Carry Forward Surplus	
Maintenance Assessments	
Interest income	

$16,938	
$471,060	
$240	

$62,598	
$470,820	
$3,304	

$0	
$1,980	
$140	

$62,598	
$472,800	
$3,444	

$2,000	
$603,784	
$2,000	

Total Revenues	$488,238	$536,722	$2,120	$538,842	$607,784

Expenditures

Administrative	
Supervisor Fees	
FICA Expense	
Engineering Fees	
Arbitrage Rebate	
Dissemination Agent	
Assessment Roll	
Attorney Fees	
Annual Audit	
Management Fees	
Telephone	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Website Compliance	
Other Current Charges	
Office Supplies	
Dues, Licenses, Subscriptions	

$6,000	
$459	
$5,000	
$600	
$2,500	
$2,000	
$20,000	
$3,900	
$45,786	
$200	
$1,000	
$1,000	
$7,080	
$1,000	
$1,000	
$650	
$250	
$175	

$3,200	$2,000	
$245	$153	
$3,048	$5,000	
$0	$600	
$1,667	$833	
$2,000	$0	
$5,723	$14,278	
$4,000	$0	
$30,524	$15,263	
$0	$200	
$131	$869	
$61	$150	
$6,918	$0	
$166	$834	
$667	$333	
$207	$443	
$0	$250	
$175	$0	

$5,200	
$398	
$8,048	
$600	
$2,500	
$2,000	
$20,000	
$4,000	
$45,786	
$200	
$1,000	
$211	
$6,918	
$1,000	
$1,000	
$650	
$250	
$175	

$6,000	
$459	
$5,000	
$600	
$2,500	
$2,000	
$20,000	
$3,200	
$47,160	
$200	
$1,000	
$200	
$7,610	
$1,000	
$1,200	
$450	
$250	
$175	

Total Administrative	$98,600	$58,730	$41,206	$99,936	$99,003

Field	
Field Management	
Utility - Electric	
Utility - Electric Streetlighting	
Electric Repairs	
General Repairs & Maintenance	
Landscape Maintenance	
Landscape Contingency	
Tree Trimming Service	
Plant Replacement	
Sidewalk Maintenance	

$16,655	
$3,600	
$12,435	
$1,500	
$20,000	
$192,830	
$50,000	
$20,000	
$10,000	
$10,000	

$11,103	
$2,119	
$9,932	
$0	
$10,622	
$128,348	
$24,275	
$68,580	
$8,473	
$9,600	

$5,552	
$1,000	
$5,188	
$0	
$4,699	
$57,044	
$25,725	
$0	
$0	
$0	

$16,655	
$3,119	
$15,120	
$0	
$15,321	
$185,392	
$50,000	
$68,580	
$8,473	
$9,600	

$17,155	
$3,600	
$13,778	
$1,500	
$20,000	
$192,830	
$30,000	
$112,000	
$10,000	
$10,000	

Baywinds	
Community Development District	

Adopted	
Budget	
FY 2023	

Actual	
thru	
5/31/2023	

Projected	
Next	
4 Months	

Total	
Projected at	
9/30/2023	

Adopted	
Budget	
FY 2024	

Description

Field (continued)	
Lake Maintenance	
Lake Debris Removal	
Irrigation Repairs	
Stormwater Service	
Holiday Decorations	
Seasonal Banners	
Reserve	

$2,180	
$1,000	
$8,000	
$10,000	
$20,038	
$11,400	
$0	

$1,453	
$0	
$18,259	
$0	
$21,808	
$0	
$0	

$727	
$0	
$1,000	
$10,000	
$0	
$11,400	
$0	

$2,180	
$0	
$19,259	
$10,000	
$21,808	
$11,400	
$0	

$2,180	
$1,000	
$8,000	
$10,000	
$25,338	
$11,400	
$40,000	

Total Field	$389,638		$314,573		$122,334		$436,907		$508,781	
										
Total Expenditures	$488,238		$373,303		$163,540		$536,843		$607,784	
										
Excess Revenues/(Expenditures)	$0		$163,420		($161,420)		$2,000		$0	
										
Net change in fund balance	$0		$163,420		($161,420)		$2,000		$0	

FY2023	FY2024	Increase
Gross Assessment	$495,853	$635,562	$139,710	
Less: Disc & Coll (5%)	(24,793)	(31,778)	(6,985)	
Net Assessment	$471,060	$603,784	$132,724	
# Units	1,072	1,072	0	
Net Per Unit Assessment	$439.42	$563.23	$123.81	
Gross Per Unit Assessment	$462.55	$592.88	$130.33	

REVENUES:

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all the operating expenses for the Fiscal Year in accordance with the adopted budget.

Interest Income
The District will invest surplus funds with the State Board of Administration Investment Pool.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year.

FICA Expense
Represents the Employer's share of Social Security.

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage Rebate
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
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.

Assessment Roll
The costs associated with preparing, processing and administering the annual assessment place on the County’s tax roll. Fee is 1% of assessments not to exceed $2,000 annually.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies.

Administrative: (continued)

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Website Compliance
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.

Other Current Charges
Bank charges and any other miscellaneous expenses that may be incurred during the year.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Field:

Field Management
The supervision and on-site management of Baywinds CDD. The responsibilities include reviewing contracts and other maintenance related items.

Utility - Electric
Includes electricity for the lift stations and common areas.

Utility - Electric Streetlighting
The District has accounts with City of Homestead for the street lighting on Spine Road and the entryways.

Electric Repairs
Any repairs associated with the electrical service to the lift stations and common area.

General Repairs & Maintenance
Any miscellaneous repairs not included in another budget line item.

Landscape Maintenance
Landscaping of the common area. Includes grass cutting, pest control, fertilization, mulching, pruning and porter service.

Landscape Contingency
Includes any miscellaneous expense related to the landscaping of the common area.

Tree Trimming Service
Tree trimming throughout the district.

Plants Replacement
The District will go into contract for the replacement of plants needed along the common areas.

Sidewalk Maintenance
Represents pressure washing of the District sidewalks.

Lake Maintenance
Includes monthly cleaning of all District lakes.

Field: (continued)

Lake Debris Removal
Includes cleaning of lake shorelines of any debris.

Irrigation Repairs
Includes any miscellaneous irrigation repairs and maintenance.

Stormwater Services
Annual Storm Drain Cleaning for all Storm Drains throughout the District.

Holiday Decorations
The District will decorate common areas for the Holidays.

Seasonal Banners
Agreement with Florida CDI, LLC to install banners in Fall, Holidays, Spring, Patriotic and Summer.

Reserve
Reserve for future improvement projects.

Baywinds	
Community Development District	

 	
Debt Service Fund	
Series 2017A1/2 Special Assessment Refunding Bonds	

Adopted	
Budget	
FY 2023	

Actual	
thru	
5/31/2023	

Projected	
Next	
4 Months	

Total	
Projected at	
9/30/2023	

Adopted	
Budget	
FY 2024	

Description

Revenues	
Carry Forward Surplus (1)	
Special Assessments	
Interest Income	

$216,730	
$776,911	
$0	

$216,295	
$775,194	
$22,309	

$0	
$3,265	
$6,000	

$216,295	
$778,459	
$28,309	

$231,376	
$776,911	
$5,000	

Total Revenues	$993,642		$1,013,798		$9,265		$1,023,063		$1,013,287	

Expenditures										

Series 2017A-1	
Interest - 11/1	
Principal - 5/1	
Interest - 5/1	

$127,306	
$315,000	
$127,306	

$127,306	$0	
$315,000	$0	
$127,306	$0	

$127,306	
$315,000	
$127,306	

$121,794	
$325,000	
$121,794	

Series 2017A-2	
Interest - 11/1	
Principal - 5/1	
Interest - 5/1	
Trustee Fees	

$51,038	
$110,000	
$51,038	
$10,000	

$51,038	
$110,000	
$51,038	
$9,167	

$0	
$0	
$0	
$833	

$51,038	
$110,000	
$51,038	
$10,000	

$48,838	
$115,000	
$48,838	
$10,000	

Total Expenditures	$791,688		$790,854		$833		$791,688		$791,263	
										
Excess Revenue/(Expenditures)	$201,954		$222,944		$8,432		$231,376		$222,024	
										
Net change in Fund balance	$201,954		$222,944		$8,432		$231,376		$222,024	

Interest Payment - 11/1/24 A-1	
Interest Payment - 11/1/24 A-2	

$116,106	
$46,538	
$162,644	

(1) Carry forward is net of Reserve Fund requirement.

Land Use	
	Units		Gross Per Lot
FY 2024		Gross Per Lot
FY 2024		
50' SFH	91	$837.38	$76,201.58	
60' SFH	167	$861.14	$143,810.38	
30' SFH	75	$739.92	$55,494.00	
40' SFH	263	$812.89	$213,790.07	
Townhomes	475	$691.59	$328,505.25	
TOTALS	1071		$817,801.28	
	Gross Assessments	$817,801.28	
	less Discount/Commission 5%		$40,890 	
	Net Assessments	$776,911.22	

Baywinds	
Community Development District	

Series 2017A-1, Special Assessment Refunding Bonds (1)	
Amortization Schedule	

PRINCIPAL	
	BALANCE		

11/01/23	$5,975,000.00	$121,793.75	$0.00	$0.00	
05/01/24	$5,975,000.00	$121,793.75	$325,000.00	$568,587.50	
11/01/24	$5,650,000.00	$116,106.25	$0.00	$0.00	
05/01/25	$5,650,000.00	$116,106.25	$340,000.00	$572,212.50	
11/01/25	$5,310,000.00	$110,156.25	$0.00	$0.00	
05/01/26	$5,310,000.00	$110,156.25	$350,000.00	$570,312.50	
11/01/26	$4,960,000.00	$104,031.25	$0.00	$0.00	
05/01/27	$4,960,000.00	$104,031.25	$365,000.00	$573,062.50	
11/01/27	$4,595,000.00	$97,643.75	$0.00	$0.00	
05/01/28	$4,595,000.00	$97,643.75	$375,000.00	$570,287.50	
11/01/28	$4,220,000.00	$89,675.00	$0.00	$0.00	
05/01/29	$4,220,000.00	$89,675.00	$395,000.00	$574,350.00	
11/01/29	$3,825,000.00	$81,281.25	$0.00	$0.00	
05/01/30	$3,825,000.00	$81,281.25	$410,000.00	$572,562.50	
11/01/30	$3,415,000.00	$72,568.75	$0.00	$0.00	
05/01/31	$3,415,000.00	$72,568.75	$430,000.00	$575,137.50	
11/01/31	$2,985,000.00	$63,431.25	$0.00	$0.00	
05/01/32	$2,985,000.00	$63,431.25	$445,000.00	$571,862.50	
11/01/32	$2,540,000.00	$53,975.00	$0.00	$0.00	
05/01/33	$2,540,000.00	$53,975.00	$465,000.00	$572,950.00	
11/01/33	$2,075,000.00	$44,093.75	$0.00	$0.00	
05/01/34	$2,075,000.00	$44,093.75	$485,000.00	$573,187.50	
11/01/34	$1,590,000.00	$33,787.50	$0.00	$0.00	
05/01/35	$1,590,000.00	$33,787.50	$505,000.00	$572,575.00	
11/01/35	$1,085,000.00	$23,056.25	$0.00	$0.00	
05/01/36	$1,085,000.00	$23,056.25	$530,000.00	$576,112.50	
11/01/36	$555,000.00	$11,793.75	$0.00	$0.00	
05/01/37	$555,000.00	$11,793.75	$555,000.00	$578,587.50	
Total	$2,046,787.50	$5,975,000.00	$8,021,787.50

(1)Please note that the Series 2017A-1 Special Assessment Revenue Bonds has 12 maturities.

Baywinds	
Community Development District	

Series 2017A-2, Special Assessment Refunding Bonds (1)	
Amortization Schedule	

PRINCIPAL	
	BALANCE		

11/01/23	$2,155,000.00	$48,837.50	$0.00	$0.00	
05/01/24	$2,155,000.00	$48,837.50	$115,000.00	$212,675.00	
11/01/24	$2,040,000.00	$46,537.50	$0.00	$0.00	
05/01/25	$2,040,000.00	$46,537.50	$120,000.00	$213,075.00	
11/01/25	$1,920,000.00	$44,137.50	$0.00	$0.00	
05/01/26	$1,920,000.00	$44,137.50	$125,000.00	$213,275.00	
11/01/26	$1,795,000.00	$41,637.50	$0.00	$0.00	
05/01/27	$1,795,000.00	$41,637.50	$130,000.00	$213,275.00	
11/01/27	$1,665,000.00	$39,037.50	$0.00	$0.00	
05/01/28	$1,665,000.00	$39,037.50	$135,000.00	$213,075.00	
11/01/28	$1,530,000.00	$36,337.50	$0.00	$0.00	
05/01/29	$1,530,000.00	$36,337.50	$140,000.00	$212,675.00	
11/01/29	$1,390,000.00	$33,012.50	$0.00	$0.00	
05/01/30	$1,390,000.00	$33,012.50	$145,000.00	$211,025.00	
11/01/30	$1,245,000.00	$29,568.75	$0.00	$0.00	
05/01/31	$1,245,000.00	$29,568.75	$155,000.00	$214,137.50	
11/01/31	$1,090,000.00	$25,887.50	$0.00	$0.00	
05/01/32	$1,090,000.00	$25,887.50	$160,000.00	$211,775.00	
11/01/32	$930,000.00	$22,087.50	$0.00	$0.00	
05/01/33	$930,000.00	$22,087.50	$170,000.00	$214,175.00	
11/01/33	$760,000.00	$18,050.00	$0.00	$0.00	
05/01/34	$760,000.00	$18,050.00	$175,000.00	$211,100.00	
11/01/34	$585,000.00	$13,893.75	$0.00	$0.00	
05/01/35	$585,000.00	$13,893.75	$185,000.00	$212,787.50	
11/01/35	$400,000.00	$9,500.00	$0.00	$0.00	
05/01/36	$400,000.00	$9,500.00	$195,000.00	$214,000.00	
11/01/36	$205,000.00	$4,868.75	$0.00	$0.00	
05/01/37	$205,000.00	$4,868.75	$205,000.00	$214,737.50	
Total	$826,787.50	$2,155,000.00	$2,981,787.50

(1)Please note that the Series 2017A-2 Special Assessment Revenue Bonds has 3 maturities.