Title: Proposed Budget-FY2024.xlsx - Group
Author: Gms

Hemingway Point
Community Development District

Adopted Budget
FY 2027

Table of Contents

1	General Fund

2-4	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 Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description	FY2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027

REVENUES:

Special Assessments - On Roll | $	253,746 | $	254,926 | $	- | $	254,926 | $	342,456
Interest income | - | 2,508 | 500 | 3,008 | 3,000
Carry Forward Surplus | 48,794 | - | - | - | -

TOTAL REVENUES | $	302,539 | $	257,434 | $	500 | $	257,934 | $	345,456

EXPENDITURES:

Administrative

Supervisor Fees | $	8,000 | $	3,000 | $	3,000 | $	6,000 | $	8,000
FICA Taxes | 612 | 230 | 230 | 459 | 612
Engineering | 2,500 | 449 | 417 | 865 | 4,500
Attorney | 11,000 | 7,418 | 1,833 | 9,251 | 13,000
Annual Audit | 5,200 | 5,200 | - | 5,200 | 5,400
Assessment Administration | 1,156 | 1,156 | - | 1,156 | 1,237
Dissemination Agent | 2,889 | 2,408 | 482 | 2,889 | 3,091
Trustee Fees | 8,000 | 8,000 | - | 8,000 | 8,000
Management Fees | 45,420 | 37,850 | 7,570 | 45,420 | 48,599
Information Technology | 578 | 482 | 96 | 578 | 618
Website Maintenance | 1,225 | 1,021 | 204 | 1,225 | 1,311
Telephone | 50 | - | - | - | -
Postage & Delivery | 1,250 | 676 | 208 | 884 | 1,250
Insurance General Liability | 9,079 | 8,084 | - | 8,084 | 8,893
Printing & Binding | 500 | 97 | 111 | 208 | 500
Legal Advertising | 1,500 | 3,400 | 400 | 3,800 | 2,000
Other Current Charges | 500 | 424 | 275 | 699 | 550
Office Supplies | 150 | 26 | 75 | 101 | 150
Dues, Licenses & Subscriptions | 175 | 175 | - | 175 | 175
1st Quarter Operating | - | - | - | - | 15,000

TOTAL ADMINISTRATIVE | $	99,784 | $	80,094 | $	14,901 | $	94,995 | $	122,887
Operations & Maintenance | | | | |
Field Expenditures | | | | |
Field Management | $	14,700 | $	12,250 | $	2,042 | $	14,292 | $	15,729
Security Patrol/Monitoring | 27,000 | 28,845 | 3,807 | 32,652 | 27,000
Security System Hardware | 2,500 | - | 1,250 | 1,250 | 2,500
Phone/Internet | 2,500 | - | 400 | 400 | 2,500
Electric | 7,500 | 5,590 | 2,100 | 7,690 | 9,000
Water | 6,500 | 18,954 | 2,402 | 21,355 | 6,500
Solid Waste | - | 1,442 | - | 1,442 | 2,000
Property Insurance | 7,290 | 6,919 | - | 6,919 | 6,573
Repairs & Maintenance | 20,000 | 14,985 | 2,298 | 17,283 | 20,000
Landscape Maintenance | 25,000 | 18,917 | 3,306 | 22,223 | 26,000
Tree Trimming | 7,500 | - | 2,000 | 2,000 | 10,000
Plant Replacement | - | 4,686 | - | 4,686 | 8,000
Janitorial Service & Supplies | 6,500 | 5,741 | 1,914 | 7,654 | 8,000
Pool Maintenance & Repairs | 30,000 | 10,646 | 1,774 | 12,421 | 30,000
Operating Supplies | 4,500 | - | 1,000 | 1,000 | 4,500
Pressure Washing/Painting | 8,000 | - | 1,000 | 1,000 | 8,000
Landscape Lighting & Replacement | 5,000 | - | - | - | -
Holiday Lighting | - | 5,083 | - | 5,083 | 8,000
Pest Control | 660 | 150 | 110 | 260 | 660
Dues/Licenses | 250 | 500 | - | 500 | 250
Contingencies/Reserve | 27,356 | 1,570 | 1,259 | 2,829 | 27,357

TOTAL FIELD EXPENDITURES | $	202,755 | $	136,278 | $	26,661 | $	162,939 | $	222,569

TOTAL EXPENDITURES | $	302,539 | $	216,372 | $	41,562 | $	257,934 | $	345,456

EXCESS REVENUES (EXPENDITURES) | $	- | $	41,062 | $	(41,062) | $	- | $	-

Hemingway Point
Community Development District
Budget Narrative

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.
Interest Income
The District earns interest on the monthly average collected balance for each of their investment accounts.

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 Computershare Corporate Trust. This represents the trustee annual fee for
Bond Series 2013 and 2014.

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.
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

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 FloridaCommerce for $175.
1st Quarter Operating
Represents expenses in the first 2 months prior to assessments being collected.
Expenditures – Field

Field Management |
This is for the field manager who oversees the daily activity of the field operations of the District.
Security Patrol/Monitoring |
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 System 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 252^nd Terrace – Clubhouse
Acct 16670-96067 | 11880 SW 248^th Street – Guard House
Water |
The District has the following account with Miami-Dade Water & Sewer Department:
Acct 2198944399 | 11850 SW 252^nd Terrace – Clubhouse

Solid Waste |
The District has the following account with Miami-Dade Solid Waste Department:
Acct 20091066 | 11850 SW 252^nd 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.
Plant Replacement |
The cost associated with any replacement of landscaping during the year.
Janitorial Service & Supplies
The District will enter into an agreement for the cleaning of the Clubhouse.
Pool Maintenance & Repairs
The District has an agreement with Florida's Bright & Blue Pools for the maintenance and repairs of the pool. The current contract is $546.00 per month which includes complete pool 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

Expenditures – Field (continued)
Pressure Washing/Painting
District contracts companies for Pressure washing of sidewalks and walkways.
Holiday Lighting
Estimated cost for holiday lights and decorations including installation before and removal after the holidays as per the agreement signed by the District.
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 Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description	FY2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027

REVENUES:

Special Assessments-On Roll | $	165,900 | $	166,169 | $	- | $	166,169 | $	165,900
Interest Earnings | 4,000 | 9,435 | 800 | 10,235 | 4,000
Carry Forward Surplus ^(1) | 209,101 | 210,362 | - | 210,362 | 227,191

TOTAL REVENUES | $	379,001 | $	385,966 | $	800 | $	386,766 | $	397,091

EXPENDITURES:

Interest 11/1 | $	55,569 | $	55,569 | $	- | $	55,569 | $	54,006
Principal 11/1 | 50,000 | 50,000 | - | 50,000 | 55,000
Interest 5/1 | 54,006 | 54,006 | - | 54,006 | 52,288

TOTAL EXPENDITURES | $	159,575 | $	159,575 | $	- | $	159,575 | $	161,294

EXCESS REVENUES (EXPENDITURES) | $	219,426 | $	226,391 | $	800 | $	227,191 | $	235,797

Interest Due 11/1/27 | $52,288
Principal Due 11/1/27 | $60,000
| $112,288

^(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

11/01/25 | 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	$	1,635,000 | $	1,096,706 | $	2,785,713

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

Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description	FY2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027

REVENUES:

Special Assessments-On Roll | $	170,480 | $	170,987 | $	- | $	170,987 | $	170,480
Interest Earnings | 4,000 | 8,603 | 800 | 9,403 | 4,000
Carry Forward Surplus ^(1) | 184,335 | 185,540 | - | 185,540 | 199,580

TOTAL REVENUES | $	358,815 | $	365,130 | $	800 | $	365,930 | $	374,060

EXPENDITURES:

Interest 11/1 | $	53,925 | $	53,925 | $	- | $	53,925 | $	52,425
Principal 11/1 | 60,000 | 60,000 | - | 60,000 | 65,000
Interest 5/1 | 52,425 | 52,425 | - | 52,425 | 50,800

TOTAL EXPENDITURES | $	166,350 | $	166,350 | $	- | $	166,350 | $	168,225

EXCESS REVENUES (EXPENDITURES) | $	192,465 | $	198,780 | $	800 | $	199,580 | $	205,835

Interest Due 11/1/27 | $50,800
Principal Due 11/1/27 | $65,000
| $115,800

^(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	$	1,970,000 | $	1,177,150 | $	3,199,575

Hemingway Point
Community Development District
Non-Ad Valorem Assessments Comparison
2026 - 2027

Neighborhood

O&M Units

Bonds 2013
Units

Bonds 2014
Units

Annual Maintenance Assessments

Annual Debt Assessments

Total Assessed Per Unit

| FY 2027 | FY2026 | Increase/ (decrease) | FY 2027 | FY2026 | FY 2027 | FY2026 | Increase/ (decrease) | FY 2027 | FY2026 | Increase/ (decrease)
| | | | | | | Series 2013 | Series 2014 | | | |
Single Family-Phase I | 167 | 167 | 0 | $1,122.99 | $832.09 | $290.90 | $1,045.70 | $1,045.70 | $0.00 | $0.00 | $0.00 | $2,168.69 | $1,877.79 | $290.90
Single Family-Phase II | 154 | 0 | 154 | $1,122.99 | $832.09 | $290.90 | $0.00 | $0.00 | $1,165.28 | $1,165.28 | $0.00 | $2,288.27 | $1,997.37 | $290.90
Total	321	167	154 | | | | | | | | | | |

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