Downtown Doral	
Community Development District	

Proposed Budget	
FY 2025	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2015

	Series 2015 Amortization Schedule

6		Assessment Schedule

Downtown Doral	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	113,200	$113,995	$-	$113,995	$	113,200	
Interest income	1,000	5,438	5,438	10,876	5,000	
Carry Forward Surplus	-	-	-	-	3,411	

TOTAL REVENUES	$114,200	$119,433	$5,438	$124,871	$121,611	

EXPENDITURES:

Administrative						
Engineering	12,000	220	6,000	6,220	12,000	
Attorney Fees	21,100	3,035	10,550	13,585	21,100	
Annual Audit	4,000	3,800	-	3,800	4,000	
Assessment Administration	-	5,000	-	5,000	5,000	
Arbitrage Rebate	1,200	-	1,200	1,200	1,200	
Dissemination Agent	5,000	2,500	2,500	5,000	5,000	
Trustee Fees	8,300	7,580	-	7,580	8,300	
Management Fees	38,192	19,096	19,096	38,192	39,338	
Information Technology	1,000	500	500	1,000	1,200	
Website Maintenance	1,000	500	500	1,000	1,200	
Telephone	100	-	50	50	100	
Postage & Delivery	750	53	375	428	750	
Printing & Binding	750	9	375	384	750	
Insurance	17,302	16,405	-	16,405	18,167	
Legal Advertising	1,000	-	500	500	1,000	
Other Current Charges	750	-	375	375	750	
Office Supplies	125	0	63	63	125	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Capital Outlay	250	-	125	125	250	
Contingency	1,206	-	1,206	1,206	1,206	

TOTAL ADMINISTRATIVE	$114,200	$58,873	$43,415	$102,287	$121,611	

TOTAL EXPENDITURES	$114,200	$58,873	$43,415	$102,287	$121,611	

EXCESS REVENUES (EXPENDITURES)	$-	$60,561	$(37,976)	$22,584	$	0	

Downtown Doral	
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 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.	

Downtown Doral	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.	
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.	
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 Florida Department of Commerce for $175.	
Capital Outlay	
Represents any minor or major capital expenditures the District may need to make during the Fiscal Year.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	

Downtown Doral	
Community Development District	
Proposed Budget	
Debt Service Series 2015 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$914,437	$924,949	$-	$924,949	$914,405	
Special Assessments - Direct	104,199	36,318	67,881	104,199	104,199	
Interest Earnings	5,000	25,909	25,909	51,817	20,000	
Carry Forward Surplus (1)	509,457	506,965	-	506,965	571,632	

TOTAL REVENUES	$1,533,092	$1,494,141	$93,790	$1,587,930	$1,610,236	

EXPENDITURES:

Interest - 11/1	$353,207	$353,091	$-	$353,091	$345,998	
Interest - 5/1	310,000	-	310,000	310,000	325,000	
Principal - 5/1	353,207	-	353,207	353,207	345,998	

TOTAL EXPENDITURES	$1,016,414	$353,091	$663,207	$1,016,298	$1,016,995	

TOTAL EXPENDITURES	$1,016,414	$353,091	$663,207	$1,016,298	$1,016,995	

EXCESS REVENUES (EXPENDITURES)	$516,678	$1,141,049	$(569,417)	$571,632	$593,241	

Interest Due 11/1/25	$338,560.00	
	$338,560.00	

(1) Carry Forward is Net of Reserve Requirement

Downtown Doral	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2015 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Principal	Interest	Annual Debt Service	

11/01/24	$12,850,000		$345,998	$345,998	
05/01/25	12,850,000	325,000	345,998		
11/01/25	12,525,000		338,560	1,009,558	
05/01/26	12,525,000	340,000	338,560		
11/01/26	12,185,000		330,291	1,008,851	
05/01/27	12,185,000	360,000	330,291		
11/01/27	11,825,000		320,785	1,011,076	
05/01/28	11,825,000	380,000	320,785		
11/01/28	11,445,000		310,751	1,011,536	
05/01/29	11,445,000	400,000	310,751		
11/01/29	11,045,000		300,190	1,010,941	
05/01/30	11,045,000	425,000	300,190		
11/01/30	10,620,000		288,968	1,014,158	
05/01/31	10,620,000	445,000	288,968		
11/01/31	10,175,000		277,218	1,011,185	
05/01/32	10,175,000	470,000	277,218		
11/01/32	9,705,000		264,808	1,012,025	
05/01/33	9,705,000	495,000	264,808		
11/01/33	9,210,000		251,738	1,011,545	
05/01/34	9,210,000	525,000	251,738		
11/01/34	8,685,000		237,875	1,014,613	
05/01/35	8,685,000	550,000	237,875		
11/01/35	8,135,000		223,353	1,011,228	
05/01/36	8,135,000	580,000	223,353		
11/01/36	7,555,000		207,763	1,011,115	
05/01/37	7,555,000	585,000	207,763		
11/01/37	6,970,000		191,675	984,438	
05/01/38	6,970,000	615,000	191,675		
11/01/38	6,355,000		174,763	981,438	
05/01/39	6,355,000	650,000	174,763		
11/01/39	5,705,000		156,888	981,650	
05/01/40	5,705,000	690,000	156,888		
11/01/40	5,015,000		137,913	984,800	
05/01/41	5,015,000	725,000	137,913		
11/01/41	4,290,000		117,975	980,888	
05/01/42	4,290,000	765,000	117,975		
11/01/42	3,525,000		96,938	979,913	
05/01/43	3,525,000	810,000	96,938		
11/01/43	2,715,000		74,663	981,600	
05/01/44	2,715,000	855,000	74,663		
11/01/44	1,860,000		51,150	980,813	
05/01/45	1,860,000	905,000	51,150		
11/01/45	955,000		26,263	982,413	
05/01/46	955,000	955,000	26,263	981,263	

$12,850,000	$9,453,040	$22,303,040	

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

Neighborhood	Units/Sqft.	O&M Units	Bonds
Units 2015	
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)	

Blended Commercial	

47000	

14.1	

14.1	

$42.11	

$42.11	

$0.00	

$1,032.00	

$1,032.00	

$0.00	

$1,074.11	

$1,074.11	

$0.00	
Blended Commercial - 8333 Buildin	149823	45	44.95	$42.11	$42.11	$0.00	$1,032.00	$1,032.00	$0.00	$1,074.11	$1,074.11	$0.00	
Townhomes (3)	73	85	73	$42.11	$42.11	$0.00	$1,006.00	$1,006.00	$0.00	$1,048.11	$1,048.11	$0.00	
7950 Professional Center	68742	21	20.62	$42.11	$42.11	$0.00	$784.00	$784.00	$0.00	$826.11	$826.11	$0.00	
Condos Area 1	203	203	203	$42.11	$42.11	$0.00	$1,201.00	$1,201.00	$0.00	$1,243.11	$1,243.11	$0.00	
Condos Area 3	426	426	426	$42.11	$42.11	$0.00	$1,205.00	$1,205.00	$0.00	$1,247.11	$1,247.11	$0.00	
Future Office Site	150000	45	45	$42.11	$42.11	$0.00	$1,219.00	$1,219.00	$0.00	$1,261.11	$1,261.11	$0.00	
Residents	0	1991	0	$42.11	$42.11	$0.00	$0.00	$0.00	$0.00	$42.11	$42.11	$0.00	
Total	2,830	826.67										

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