Hemingway Point	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1	General Fund

3-4	Narratives

5-6	Debt Service Fund Series 2013

7-8	Debt Service Fund Series 2014

9	Assessment Schedule

Hemingway Point	
Community Development District	
Adopted Budget	
General Fund	

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

REVENUES:

Special Assessments - On Roll	$	253,746	$	254,749	$	-	$	254,749	$	253,746	
Carry Forward Surplus	26,098	26,098	-	26,098	42,507	

TOTAL REVENUES	$	279,844	$	280,847	$	-	$	280,847	$	296,253	

EXPENDITURES:

Administrative

Supervisor Fees	$	9,600	$	2,400	$	3,000	$	5,400	$	8,000	
FICA Taxes	734	184	230	413	612	
Engineering	2,500	-	1,500	1,500	2,500	
Attorney	15,000	7,253	3,626	10,879	11,000	
Annual Audit	4,800	4,800	-	4,800	5,000	
Assessment Administration	1,000	1,000	-	1,000	1,080	
Dissemination Agent	2,500	1,875	625	2,500	2,700	
Trustee Fees	8,000	8,000	-	8,000	8,000	
Management Fees	39,305	29,479	9,826	39,305	42,449	
Information Technology	500	375	125	500	540	
Website Maintenance	1,060	795	265	1,060	1,145	
Telephone	50	-	25	25	50	
Postage & Delivery	1,250	210	250	460	1,250	
Insurance General Liability	7,715	7,127	-	7,127	7,839	
Printing & Binding	750	195	65	259	500	
Legal Advertising	1,000	1,805	-	1,805	1,500	
Other Current Charges	850	67	250	317	500	
Office Supplies	150	0	150	150	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Property Taxes	8,500	-	-	-	-	

TOTAL ADMINISTRATIVE	$	105,439	$	65,738	$	19,937	$	85,675	$	94,990	

Operations & Maintenance
Field Expenditures

Field Management	$	12,720	$	9,540	$	3,180	$	12,720	$	13,738	
Security Patrol/Monitoring	22,000	7,892	2,631	10,523	26,000	
Security System Hardware	-	-	-	-	2,500	
Phone/Internet	2,500	1,782	600	2,382	2,500	
Electric	7,500	4,144	2,960	7,104	7,500	
Water	6,500	4,388	3,134	7,522	6,500	
Property Insurance	6,500	6,554	-	6,554	7,406	
Repairs & Maintenance	20,000	5,780	4,129	9,909	20,000	
Landscape Maintenance	21,000	21,505	7,168	28,674	25,000	
Tree Trimming	7,500	5,456	2,500	7,956	7,500	
Janitorial Service & Supplies	4,750	4,278	3,056	7,334	6,500	
Pool Maintenance & Repairs	12,000	17,328	12,377	29,705	30,000	
Operating Supplies	4,500	-	2,000	2,000	4,500	
Pressure Washing/Painting	8,000	1,000	3,000	4,000	8,000	
Landscape Lighting & Replacement	5,000	-	1,500	1,500	5,000	
Pest Control	660	-	660	660	660	
Dues/Licenses	-	250	-	250	250	
Contingencies/Reserve	33,275	3,873	10,000	13,873	27,709	

TOTAL FIELD EXPENDITURES	$	174,405	$	93,770	$	58,895	$	152,665	$	201,262	

TOTAL EXPENDITURES	$	279,844	$	159,508	$	78,831	$	238,340	$	296,252	

EXCESS REVENUES (EXPENDITURES)	$	0	$	121,338	$	(78,831)	$	42,507	$	0	

Hemingway Point	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments - On 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.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 6 meetings.	
FICA Taxes	
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
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.	
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.	

Hemingway Point	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
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 Economic Opportunity Community Affairs for $175.	
Property Taxes	
Miami-Dade, Florida real estate taxes on District property.	

Expenditures – Field	

Field Management		
This is for the field manager who oversees the daily activity of the field operations of the District.	
Security		
District is currently contracted with 1st Choice Security for daily Patrols. Budget includes future contract with DML Security Systems for security camera monitoring during evening hours.	
Security Hardware		
District may purchase a security camera network for monitoring during the evening hours.	
Phone/Internet		
The District has an account with Comcast for phone and internet service to the Clubhouse.	
Electric		
The District has the following accounts with Florida Power & Light:	
Acct 04890-39180	11850 SW 252nd Terrace – Clubhouse	
Acct 16670-96067	11880 SW 248th Street – Guard House	
Water		
The District has the following account with Miami-Dade Water & Sewer Department:	
Acct 2198944399	11850 SW 252nd Terrace – Clubhouse	
Property Insurance		
The District has a policy with Egis Insurance & Risk Advisors to cover the Clubhouse and contents.	
Repairs & Maintenance		
Repairs and maintenance within the district.	
Landscape Maintenance		
The District has an agreement with Nicoya Landscaping, Inc.	
Tree Trimming		
The District has an agreement with Nicoya Landscaping, Inc.	
Janitorial Service & Supplies		
The District will enter into an agreement for the cleaning of the Clubhouse.	
Pool Maintenance		
The District has an agreement with Florida’s Bright & Blue Pools for the maintenance of the pool and fountains (2). The currently contract is
$520.00 per month which includes complete pool and fountain services with chemical, 3 visits per week.	
Operating Supplies		
Represents any additional supplies needed for the maintenance of the Clubhouse and Guardhouse.	

Hemingway Point	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Field (continued)	
Pressure Washing/Painting	
District contracts companies for Pressure washing of sidewalks and walkways.	
Landscape Lighting & Replacement	
This cost if for maintain the landscape lighting and replacement.	
Pest Control	
This cost if for an annual Bait pretreatment.	
Dues/Licenses	
The District is required to pay a pool permit annual fee to the Florida Dept. of Health Miami Dade County for $250.	
Contingencies/Reserve	
Represents any unforeseen expenditures.	

Hemingway Point	
Community Development District	
Adopted Budget	
Debt Service Series 2013 Special Assessment Bonds (Phase One Project)	

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

REVENUES:

Special Assessments-On Roll	$	165,900	$	166,367	$	-	$	166,367	$	165,900	
Interest Earnings	-	10,573	938	11,510	-	
Carry Forward Surplus (1)	167,761	174,785	-	174,785	191,994	

TOTAL REVENUES	$	333,661	$	351,725	$	938	$	352,662	$	357,894	

EXPENDITURES:

Interest 11/1	$	58,538	$	58,538	$	-	$	58,538	$	57,131	
Principal 11/1	45,000	45,000	-	45,000	50,000	
Interest 5/1	57,131	57,131	-	57,131	55,569	

TOTAL EXPENDITURES	$	160,669	$	160,669	$	-	$	160,669	$	162,700	

Other Sources/(Uses)

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

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

TOTAL EXPENDITURES	$	160,669	$	160,669	$	-	$	160,669	$	162,700	

EXCESS REVENUES (EXPENDITURES)	$	172,993	$	191,056	$	938	$	191,994	$	195,194	

Interest Due 11/1/25	$55,569	
Principal Due 11/1/25			$50,000 	
		$105,569 	

(1) Carry Forward is Net of Reserve Requirement

Hemingway Point	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2013 Special Assessment Bonds (Phase One Project)	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	$	1,735,000	6.250%	$	50,000	$	57,131	$	107,131	
05/01/25	1,685,000	6.250%	-	55,569		
11/01/25	1,685,000	6.250%	50,000	55,569	161,138	
05/01/26	1,635,000	6.250%	-	54,006		
11/01/26	1,635,000	6.250%	55,000	54,006	163,013	
05/01/27	1,580,000	6.250%	-	52,288		
11/01/27	1,580,000	6.250%	60,000	52,288	164,575	
05/01/28	1,520,000	6.250%	-	50,413		
11/01/28	1,520,000	6.250%	65,000	50,413	165,825	
05/01/29	1,455,000	6.250%	-	48,381		
11/01/29	1,455,000	6.250%	65,000	48,381	161,763	
05/01/30	1,390,000	6.250%	-	46,350		
11/01/30	1,390,000	6.250%	70,000	46,350	162,700	
05/01/31	1,320,000	6.250%	-	44,163		
11/01/31	1,320,000	6.250%	75,000	44,163	163,325	
05/01/32	1,245,000	6.250%	-	41,819		
11/01/32	1,245,000	6.250%	80,000	41,819	163,638	
05/01/33	1,165,000	6.750%	-	39,319		
11/01/33	1,165,000	6.750%	85,000	39,319	163,638	
05/01/34	1,080,000	6.750%	-	36,450		
11/01/34	1,080,000	6.750%	90,000	36,450	162,900	
05/01/35	990,000	6.750%	-	33,413		
11/01/35	990,000	6.750%	95,000	33,413	161,825	
05/01/36	895,000	6.750%	-	30,206		
11/01/36	895,000	6.750%	105,000	30,206	165,413	
05/01/37	790,000	6.750%	-	26,663		
11/01/37	790,000	6.750%	110,000	26,663	163,325	
05/01/38	680,000	6.750%	-	22,950		
11/01/38	680,000	6.750%	120,000	22,950	165,900	
05/01/39	560,000	6.750%	-	18,900		
11/01/39	560,000	6.750%	125,000	18,900	162,800	
05/01/40	435,000	6.750%	-	14,681		
11/01/40	435,000	6.750%	135,000	14,681	164,363	
05/01/41	300,000	6.750%	-	10,125		
11/01/41	300,000	6.750%	145,000	10,125	165,250	
05/01/42	155,000	6.750%	-	5,231		
11/01/42	155,000	6.750%	155,000	5,231	165,463	

Total	$	1,735,000	$	1,318,981	$	3,053,981	

Hemingway Point	
Community Development District	
Adopted Budget	
Debt Service Series 2014 Special Assessment Bonds (Phase Two Project)	

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

REVENUES:

Special Assessments-On Roll	$	170,480	$	171,365	$	-	$	171,365	$	170,480	
Interest Earnings	-	9,445	1,800	11,245	-	
Carry Forward Surplus (1)	138,695	149,723	-	149,723	165,667	

TOTAL REVENUES	$	309,175	$	330,533	$	1,800	$	332,333	$	336,148	

EXPENDITURES:

Interest 11/1	$	56,469	$	56,469	$	-	$	56,469	$	55,197	
Principal 11/1	55,000	55,000	-	55,000	55,000	
Interest 5/1	55,197	55,197	-	55,197	53,925	

TOTAL EXPENDITURES	$	166,666	$	166,666	$	-	$	166,666	$	164,122	

TOTAL EXPENDITURES	$	166,666	$	166,666	$	-	$	166,666	$	164,122	

EXCESS REVENUES (EXPENDITURES)	$	142,509	$	163,867	$	1,800	$	165,667	$	172,026	

Interest Due 11/1/25	$53,925	
Principal Due 11/1/25			$60,000 	
		$113,925 	

(1) Carry Forward is Net of Reserve Requirement

Hemingway Point	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2014 Special Assessment Bonds (Phase Two Project)	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	$	2,085,000	4.625%	$	55,000	$	55,197	$	110,197	
05/01/25	2,030,000	5.000%	-	53,925		
11/01/25	2,030,000	5.000%	60,000	53,925	167,850.00	
05/01/26	1,970,000	5.000%	-	52,425		
11/01/26	1,970,000	5.000%	65,000	52,425	169,850.00	
05/01/27	1,905,000	5.000%	-	50,800		
11/01/27	1,905,000	5.000%	65,000	50,800	166,600.00	
05/01/28	1,840,000	5.000%	-	49,175		
11/01/28	1,840,000	5.000%	70,000	49,175	168,350.00	
05/01/29	1,770,000	5.000%	-	47,425		
11/01/29	1,770,000	5.000%	75,000	47,425	169,850.00	
05/01/30	1,695,000	5.000%	-	45,550		
11/01/30	1,695,000	5.000%	75,000	45,550	166,100.00	
05/01/31	1,620,000	5.000%	-	43,675		
11/01/31	1,620,000	5.000%	80,000	43,675	167,350.00	
05/01/32	1,540,000	5.000%	-	41,675		
11/01/32	1,540,000	5.000%	85,000	41,675	168,350.00	
05/01/33	1,455,000	5.000%	-	39,550		
11/01/33	1,455,000	5.000%	90,000	39,550	169,100.00	
05/01/34	1,365,000	5.000%	-	37,300		
11/01/34	1,365,000	5.000%	95,000	37,300	169,600.00	
05/01/35	1,270,000	5.500%	-	34,925		
11/01/35	1,270,000	5.500%	100,000	34,925	169,850.00	
05/01/36	1,170,000	5.500%	-	32,175		
11/01/36	1,170,000	5.500%	105,000	32,175	169,350.00	
05/01/37	1,065,000	5.500%	-	29,288		
11/01/37	1,065,000	5.500%	110,000	29,288	168,575.00	
05/01/38	955,000	5.500%	-	26,263		
11/01/38	955,000	5.500%	115,000	26,263	167,525.00	
05/01/39	840,000	5.500%	-	23,100		
11/01/39	840,000	5.500%	120,000	23,100	166,200.00	
05/01/40	720,000	5.500%	-	19,800		
11/01/40	720,000	5.500%	130,000	19,800	169,600.00	
05/01/41	590,000	5.500%	-	16,225		
11/01/41	590,000	5.500%	135,000	16,225	167,450.00	
05/01/42	455,000	5.500%	-	12,513		
11/01/42	455,000	5.500%	145,000	12,513	170,025.00	
05/01/43	310,000	5.500%	-	8,525		
11/01/43	310,000	5.500%	150,000	8,525	167,050.00	
05/01/44	160,000	5.500%		4,400		
11/01/44	160,000	5.500%	160,000	4,400	168,800.00	

Total	$	2,085,000	$	1,392,622	$	3,477,622	

Hemingway Point	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds 2013
Units	Bonds 2014
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
							Series 2013	Series 2014					

Single Family-Phase I	
167	
167	
0	
$832.09	
$832.09	
$0.00	
$1,045.70	
$1,045.70	
$0.00	
$0.00	
$0.00	
$1,877.79	
$1,877.79	
$0.00	
Single Family-Phase II	154	0	154	$832.09	$832.09	$0.00	$0.00	$0.00	$1,165.28	$1,165.28	$0.00	$1,997.37	$1,997.37	$0.00	
Total	321	167	154