Bahia Mar	
Community Development District	

Adopted Budget	
FY 2024 and 2025	

Presented by:

Table of Contents

	General Fund

	Narratives

Bahia Mar	
Community Development District	
Adopted Budget	
General Fund	

Adopted
Budget	Adopted
Budget	
Description	FY2024	FY2025	

REVENUES:

Developer Contributions/Maintenance Assessments	$	117,825	$	93,000	

TOTAL REVENUES	$	117,825	$	93,000	

EXPENDITURES:

Administrative			
Engineering	$	17,000	$	10,000	
Attorney	72,000	15,000	
Annual Audit	-	5,000	
Assessment Administration (1)	-	5,000	
Arbitrage Rebate (1)	-	600	
Dissemination Agent (1)	-	2,500	
Trustee Fees (1)	-	4,200	
Management Fees	21,000	39,000	
Information Technology/Website Maintenance	1,575	2,000	
Telephone	-	100	
Postage & Delivery	200	500	
Insurance General Liability	-	5,500	
Printing & Binding	150	500	
Legal Advertising	3,100	2,000	
Other Current Charges	2,600	925	
Dues, Licenses & Subscriptions	200	175	

TOTAL EXPENDITURES	$	117,825	$	93,000	

EXCESS REVENUES (EXPENDITURES)	$	-	$	-	

(1) Represents costs associated with the issuance of Bonds.

Bahia Mar	
Community Development District	
Budget Narrative	
FY 2024 and 2025	

REVENUES

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

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.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District has contracted with an LLS Tax Solutions to perform the calculations.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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.	
Information Technology/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.	
Telephone	
Actual charges for conference calls.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
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.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.