ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING APRIL 3, 2019
7:00 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.islandsatdoralnecdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA ISLANDS AT DORAL (NE)
COMMUNITY DEVELOPMENT DISTRICT
Doral Legacy Park – 2nd Floor Conference Room 11400 NW 82nd Street
Doral, Florida 33178
REGULAR BOARD MEETING
April 3, 2019
7:00 p.m.

A. Call to Order
B.	Proof of Publication…………………………………………………………………………………Page 1
Establish Quorum
Seat New Board Members
Administer Oath of Office & Review Board Member Responsibilities and Duties
Election of Officers
Chairman
Vice Chairman
Secretary/Treasurer
Assistant Secretaries
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
1. October 3, 2018 Regular Board Meeting......................................................................................Page 2
Old Business
New Business
Consider Resolution No. 2019-01 – Adopting a Fiscal Year 2019/2020 Proposed Budget.........Page 6
Consider Approval of Incumbency Certificate for the District.....................................................Page 13
Consider Approval of Series 2014 (Presentment of Bond Issue) US Bank Waiver Request........Page 14
Administrative Matters
1. Office of Records Update
Board Member/Staff Comments and Requests
1. Financial Update............................................................................................................................Page 15
Adjourn

MIAMI DAILY BUSINESS REVIEW
Published Daily except Saturday, Sunday and Legal Holidays
Miami, Miami-Dade County, Florida

STATE OF FLORIDA COUNTY OF MIAMI-DADE:

(f•••• !i':/t,;:{,,    BARBARA THOMAS

Commission # GG 121171

'icco;,•. :;{: Expires November 2, 2021

',.;:;;,lfr:1,\ }•' Bonded Thru Troy Fam Insurance 800-385-7019

Before the undersigned authority personally appeared GUILLERMO GARCIA, who on oath says that he or she is the DIRECTOR OF OPERATIONS, Legal Notices of the Miami Daily
Business Review f/k/a Miami Review, a daily

Saturday,	Sunday	and	Legal	Holidays)

(except
newspaper,

published at Miami in  Miami-Dade  County,  Florida;  that  the attached  copy  of   advertisement,   being   a   Legal   Advertisement of Notice in the matter of

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT- FISCAL YEAR 2018/2019 REGULAR MEETING SCHEDULE

in the XXXX Court,
was published in said newspaper in the issues of

09/21/2018

Affiant further says that the said Miami  Daily  Business Review  is  a  newspaper  published  at  Miami,   in   said  Miami-Dad e  County,   Florida   and   that   the   said   newspaper   has heretofore been  continuously  published  in  said  Miami-Dade County,   Florida   each   day   (except   Saturday,   Sunday   and Legal Holidays) and  has  been  entered  as  second  class  mail matter at the post office in Miami in  said  Miami-Dade  County, Florida, for a period  of  one  year  next  preceding  the  first publication of the attached  copy  of  advertisement;  and  affiant further says that he or she has neither paid  nor  promised  any person,   firm   or   corporation   any   discount,    rebate,  commission
securing   this   advertisement  for

GUILLERMO GARCIA personally known to me

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 3, 2018

CALL TO ORDER

The October 3, 2018, Regular Board Meeting of the Islands at Doral (NE) Community Development District was called to order at 7:02 p.m. in the Doral Legacy Park, 2nd Floor Conference Room, located at 11400 NW 82nd Street, Doral, Florida 33178.

PROOF OF PUBLICATION

Proof of publication was presented that notice of the Regular Board Meeting had been published in the
Miami Daily Business Review on September 21, 2018, as legally required.

ESTABLISH A QUORUM

It was determined that the attendance of Chairman Jesus Arias, Vice Chairman Nestor Garcia and Supervisor Dunia Cuneo constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance were: District Manager Gloria Perez of Special District Services, Inc.; and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to that agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
June 6, 2018, Public Hearing & Regular Board Meeting

The June 6, 2018, Public Hearing & Regular Board Meeting minutes were presented for approval.

A MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and unanimously passed approving the minutes of the June 6, 2018, Public Hearing & Regular Board Meeting, as presented.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS
Consider Resolution No. 2018-05 – Adopting a Fiscal Year 2017/2018 Amended Budget

Mrs. Perez presented Resolution No. 2018-05, entitled:

RESOLUTION NO. 2018-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2017/2018 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER
189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

A MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and unanimously passed to adopt Resolution No. 2018-05, adopting the Fiscal Year 2017/2018 Amended Budget, as presented.

ADMINISTRATIVE MATTERS
Financial Update

Mrs. Perez presented the financials in the meeting book and briefly reviewed them. She pointed out that the available fund as of August 31, 2018, were $100,748.20.

Financial Risk Management Policy Review/Update

Mrs. Perez advised the Board that as the District’s Manager, Special District Services, Inc., in compliance with annual audit review practices, takes certain measures and implements procedures to identify and mitigate financial mismanagement/fraud risks, and provided the following information in the meeting book thereby reviewing;

FINANCIAL RISK MANAGEMENT POLICY
Special District Services, Inc. (“SDS, Inc.”), acting in the capacity of District Manager, as part of good management practices and to satisfy annual audit requirements does implement certain measures and procedures to identify and mitigate financial mismanagement/fraud risks, as follows:

Each month the District’s operating/checking bank account is reconciled by an authorized person who has not deposited funds to, processed expenditures or written checks from, that particular operating/checking account; and

Each expenditure from the District’s operating/checking account requires a minimum of two (2) approvals from authorized staff and/or District officials and the respective approvals are provided by persons other than the preparer of the expenditure(s); and

All financial transactions are logged and maintained by the District Manager for record keeping purposes; and

A designated member of the Board (by an electronic approval procedure) has an opportunity to review the District’s expenditure(s) prior to the payment(s) being released; and

The District engages an independent firm, pursuant to Chapter 218.391, Florida Statutes, to audit the prior year’s financial activities (October 1st through September 30th) from which an independent fiscal year annual audit is prepared; and

Within sixty (60) days of the end of each fiscal year (September 30th) the District’s Board of Supervisors reviews, pursuant to Chapter 189.418(5), Florida Statutes, the prior year’s budget relative to actual revenues and expenditures and adopts by resolution an amended/revised final budget.

Insurance Coverage Update

Mrs. Perez advised the Board that, unlike previously experienced, there is a competitive market for District insurance coverage. District management gathered several proposals, but has elected to remain with the current coverage at a lower rate.

Receive and Accept 2018 Annual Engineer’s Report

Mrs. Perez presented the Alvarez Engineering 2018 Annual Engineer’s Report in the meeting book.

A MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and passed unanimously receiving and accepting the 2018 Annual Engineer’s Report, as presented.

Ratification and Update on Master Association Installation of Lake Fountains

Mrs. Perez updated the Board on the status of the Master Association installation of the lake fountains and that the Master Association would be fully responsible for all costs of installation and maintenance of said lake fountains. A discussion ensued followed by;

A MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and passed unanimously approving the First Amendment to the Agreement with the Master Association, as presented.

Ratification and Approval of Meeting Location Change

Mrs. Perez stated that the Board had agreed to change the meeting location from the Islands at Doral
th
Community Clubhouse located at 8250 NW 112 Court, Doral, Florida 33178 to the Doral Legacy Park
2nd Floor Conference Room located at 11400 NW 82nd Street, Doral, Florida 33178. She added that said change would be a cost savings to the District, since Doral Legacy Park would not be charging the District for the use of the meeting room and that it would be in order to approve and ratify the meeting location change.

A MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and passed unanimously approving and ratifying the meeting location change.

BOARD MEMBER/STAFF COMMENTS
Discussion Regarding Request to City of Doral for “No Parking” Signage along NW 84th Street, NW 86th Street along with NW 109th Avenue

Mrs. Perez advised of the City’s plans for “No Parking” signage along NW 84th Street, NW 86th Street along with NW 109th Avenue, noting that the parking space study was currently being conducted. A brief discussion ensued.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Vice Chairman Garcia, seconded by Supervisor Cuneo and passed unanimously to adjourn the Regular Board Meeting at 7:19 p.m.

ATTEST:

Secretary/Assistant Secretary	Chairman/Vice-Chair

RESOLUTION NO. 2019-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2019/2020; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Islands at Doral (NE) Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2019/2020 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1. The Proposed Budget  including  the  Assessments  for  Fiscal  Year 2019/2020 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for June 5, 2019 at 7:00 p.m. in the Doral Legacy Park, 2nd Floor Conference Room located at 11400 NW 82nd Street, Doral, Florida 33178, for the purpose of receiving public comments on the Proposed Fiscal Year 2019/2020 Budget.

PASSED, ADOPTED and EFFECTIVE this 3rd day of April, 2019.

ATTEST:	ISLANDS AT DORAL (NE)
COMMUNITY DEVELOPMENT DISTRICT

By: 			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Islands At Doral (NE) Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	57,152	
Maintenance Assessments	7,447	
Debt Assessments	554,723	
Interest Income	300	
		
TOTAL REVENUES	$	619,622	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Maintenance Contingency	5,700	
Engineering/Inspections	1,300	
TOTAL MAINTENANCE EXPENDITURES	$	7,000	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Management	29,448	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	7,500	
Audit Fees	4,000	
Arbitrage Rebate Fee	650	
Insurance	6,500	
Legal Advertisements	600	
Miscellaneous	1,050	
Postage	250	
Office Supplies	525	
Dues & Subscriptions	175	
Trustee Fees	4,100	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	75,748	
		
TOTAL EXPENDITURES	$	82,748	
		
REVENUES LESS EXPENDITURES	$	536,874	
		
Bond Payments	(524,213)	
		
BALANCE	$	12,661	
		
County Appraiser & Tax Collector Fee	(11,462)	
Discounts For Early Payments	(22,924)	
		
EXCESS/ (SHORTFALL)	$	(21,725)	
		
Carryover From Prior Year	21,725	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
Administrative Assessments	57,365	56,121	57,152	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	9,043	8,511	7,447	Expenditures /.94	
Debt Assessments	554,723	554,723	554,723	Bond Payments/.94	
Interest Income	291	300	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	621,422	$	619,655	$	619,622		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance Contingency	0	6,600	5,700	Maintenance Of District Owned Property	
Engineering/Inspections	850	1,400	1,300	$100 Decrease From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	850	$	8,000	$	7,000		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,000	5,000	5,000	No Change From 2018/2019 Budget	
Payroll Taxes (Employer)	153	400	400	Projected At 8% Of Supervisor Fees	
Management	28,320	28,908	29,448	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2018/2019 Budget	
Legal	6,000	9,000	9,000	No Change From 2018/2019 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,800	3,900	4,000	$100 Increase From 2018/2019 Budget	
Arbitrage Rebate Fee	650	650	650	No Change From 2018/2019 Budget	
Insurance	6,042	6,646	6,500	Insurance Estimate	
Legal Advertisements	347	625	600	$25 Decrease From 2018/2019 Budget	
Miscellaneous	715	1,050	1,050	No Change From 2018/2019 Budget	
Postage	126	250	250	No Change From 2018/2019 Budget	
Office Supplies	458	525	525	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	4,080	4,100	4,100	Trustee (US Bank) Increased Fees In 2018/2019	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,416	$	74,779	$	75,748		
					
TOTAL EXPENDITURES	$	67,266	$	82,779	$	82,748		
					
REVENUES LESS EXPENDITURES	$	554,156	$	536,876	$	536,874		
					
Bond Payments	(530,817)	(524,213)	(524,213)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	23,339	$	12,663	$	12,661		
					
County Appraiser & Tax Collector Fee	(6,000)	(11,463)	(11,462)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(20,706)	(22,925)	(22,924)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(3,367)	$	(21,725)	$	(21,725)		
					
Carryover From Prior Year	0	21,725	21,725	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(3,367)	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
1,088	
100	
100	
Projected Interest For 2019/2020	

NAV Tax Collection	
530,817	
524,213	
524,213	
NAV Tax Collection	

Total Revenues	
$	531,905	
$	524,313	
$	524,313		

EXPENDITURES					

Principal Payments	
230,000	
235,000	
245,000	
Principal Payment Due In 2020	

Interest Payments	
194,329	
178,929	
165,261	
Interest Payments Due In 2020	

Additional Principal Payments	
110,000	
110,384	
114,052	
Additional Principal Payments	

Total Expenditures	
$	534,329	
$	524,313	
$	524,313		

Excess/ (Shortfall)	
$	(2,424)	
$	-	
$	-		

Series 2014 Refunding Bond Information

Original Par Amount =	$5,925,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.85%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2014			
Maturity Date =

Par Amount As Of 1/1/2019 =	May 2029

$4,650,000			

Original Principal Amount Due In May 2029: $2,225,000 Current Principal Amount Due In May 2029: $1,805,000

Islands At Doral (NE) Community Development District Assessment Comparison

	Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	Projected	2016/2017	2017/2018	2018/2019	2019/2020	
	Assessment	Assessment	Assessment	Assessment	Projected Assessment	
	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative For Single Family Homes	
$	114.75	
$	98.73	
$	104.72	
$	105.69	
$	107.64	
Maintenance For Single Family Homes	$	 	$	24.04	$	17.03	$	16.03	$	14.03	
Debt For Single Family Homes	$	1,635.38	$	1,587.68	$	1,587.68	$	1,587.68	$	1,587.68	
Total	$	1,750.13	$	1,709.99	$	1,709.43	$	1,709.40	$	1,709.35	

Administrative For Townhomes	
$	114.75	
$	98.73	
$	104.72	
$	105.69	
$	107.64	
Maintenance For Townhomes	$	 	$	24.04	$	17.03	$	16.03	$	14.03	
Debt For Townhomes	$	1,135.38	$	1,133.61	$	1,133.61	$	1,133.61	$	1,133.61	
Total	$	1,250.13	$	1,255.92	$	1,255.36	$	1,255.33	$	1,255.28	

Administrative For Condominiums	
$	114.75	
$	98.73	
$	104.72	
$	105.69	
$	107.64	
Maintenance For Condominiums	$	 	$	24.04	$	17.03	$	16.03	$	14.03	
Debt For Condominiums	$	947.88	$	906.57	$	906.57	$	906.57	$	906.57	
Total	$	1,062.63	$	1,028.88	$	1,028.32	$	1,028.29	$	1,028.24	

* Assessments Include the Following :	
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Single Family Homes	66
Townhomes	125
Condominiums	340
Total Units	531

APPOINTMENT OF AUTHORIZED RESPONSIBLE OFFICERS

I, 	, a duly elected acting Authorized Responsible Officer of Islands at Doral (NE) Community Development District do hereby certify that the following individuals have been appointed as Responsible Officers, as of the date hereof, and are authorized to act on behalf of the above-named entity in matters relating to:

Islands at Doral (NE) Community Development District Special Assessment Refunding Bond, Series 2014

The signatures opposite their names are the signatures of such individuals.

Name			Title			Specimen Signature Gloria Perez		Secretary			 		

Witness my signature on this 	day of 	, 2019.

Responsible Officer

March 1, 2019

U.S. Bank National Association Global Corporate Trust
Attn: Robert Hedgecock
550 West Cypress Creek Road, Ste. 380 Fort Lauderdale, Florida 33309

Re:	Islands at Doral (NE) Community Development District
(Miami-Dade County, Florida) Special Assessment Refunding Bond, Series 2014 Dear Robert:
Reference is hereby made to the Islands at Doral (NE) Community Development District (Miami-Dade County, Florida) Special Assessment Refunding Bonds, Series 2014 (the "Bond") issued by the Islands at Doral (NE) Community Development District (the "District") pursuant to that certain Trust Indenture dated as of May 1, 2004 (the "Trust Indenture") as supplemented by the First Supplemental Trust Indenture dated of April 1, 2014 (the "First Supplemental Indenture"), for which U.S. Bank National Association (as successor in interest to Wachovia Bank, National Association) (the "Paying Agent") serves as paying agent. Raymond James Capital Funding, Inc., (the "Registered Owner") represents and confirms that it is the sole holder of the Bond. Moreover, the Registered Owner took physical delivery of the Bond when it was first issued, as opposed to taking delivery of the Bond in book entry form through a third-party nominee such as DTC.

Section 2.04(d) of the First Supplemental Indenture requires that the Registered Owner present the Bond in physical form for payment of principal when due. As the Registered Owner has indicated to the Paying Agent, the presentment of the Bond creates a significant administrative burden on the Registered Owner, given how the Bond is held and the frequency of instances that the Bond is required to be presented.

This letter is being delivered to the Paying Agent by the District and the Registered Owner to request and direct the Paying Agent to not require the Registered Owner to present the Bond for payment of principal, including any prepayments. The District, to the extent permitted by law, and the Registered Owner hereby jointly and severally agree to fully indemnify and hold harmless the Paying Agent and each director, officer, employee, attorney, agent, and affiliate of the Paying Agent in connection with any and all actions, claims, losses, damages, liabilities, costs, expenses, and reasonable attorneys' fees, arising from or in any way related to the Paying Agent's compliance with this request and direction to not require presentment of the Bond to the Paying Agent for payments of principal on the Bond, including any prepayments, other than with respect to final payment of the Bond.

As sole holder of the Bond, the Registered Owner acknowledges that if it intends to transfer or sell the Bond, or take any other action intended to provide another party with any beneficial ownership interest in the Bond, it must comply with the provisions of the First Supplemental Indenture and other related bond documents. The Registered Owner also acknowledges that the face value of the Bond does not necessarily represent the current value of the security and that the Paying Agent's records will reflect the value of the Bond at any given time and that upon any transfer, a replacement bond with the then current principal amount of the Bond will be issued.

Sincerely,

Islands at Doral (NE) Community Development District	Raymond James Capital Funding, Inc.

                              	                                    
By: Gloria Perez	By: Cord King
Its: Secretary	Its:

Islands At Doral (NE) Community Development District

Financial Report For February 2019

Islands at Doral (NE) Community Development District
Budget vs. Actual
October 2018 through February 2019

	Oct '18 - Feb 19		18-19 Budget		$ Over Budget		% of Budget	
Income								
363.100 · Admin Assessment Income	47,833.86		56,121.00		-8,287.14		85.23%	
363.101 · Maint Assessment Income	7,185.30		8,511.00		-1,325.70		84.42%	
363.810 · Debt Assessment	469,719.80		554,723.00		-85,003.20		84.68%	
363.820 · Debt Assessment-Paid To Trustee	-447,024.05		-524,213.00		77,188.95		85.28%	
363.830 · Assessment Fees	-5,041.76		-11,463.00		6,421.24		43.98%	
363.831 · Discounts For Early Payments	-20,299.79		-22,925.00		2,625.21		88.55%	
369.401 · Interest Income	209.04		300.00		-90.96		69.68%	
369.402 · Carryover From Prior Year	0.00		21,725.00		-21,725.00		0.0%	
Total Income	52,582.40		82,779.00		-30,196.60		63.52%	
Expense								
511.122 · Payroll Expense	45.90		400.00		-354.10		11.48%	
511.131 · Supervisor Fee	600.00		5,000.00		-4,400.00		12.0%	
511.305 · Maintenance Contingency	0.00		6,600.00		-6,600.00		0.0%	
511.310 · Engineering	0.00		1,400.00		-1,400.00		0.0%	
511.311 · Management Fees	12,045.00		28,908.00		-16,863.00		41.67%	
511.312 · Secretarial Fees	1,750.00		4,200.00		-2,450.00		41.67%	
511.315 · Legal Fees	6,000.00		9,000.00		-3,000.00		66.67%	
511.318 · Assessment/Tax Roll	0.00		7,500.00		-7,500.00		0.0%	
511.320 · Audit Fees	0.00		3,900.00		-3,900.00		0.0%	
511.330 · Arbitrage Rebate Fee	0.00		650.00		-650.00		0.0%	
511.450 · Insurance	5,000.00		6,646.00		-1,646.00		75.23%	
511.480 · Legal Advertisements	0.00		625.00		-625.00		0.0%	
511.512 · Miscellaneous	365.99		1,050.00		-684.01		34.86%	
511.513 · Postage and Delivery	99.42		250.00		-150.58		39.77%	
511.514 · Office Supplies	97.50		525.00		-427.50		18.57%	
511.540 · Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 · Trustee Fees	0.00		4,100.00		-4,100.00		0.0%	
511.734 · Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
511.750 · Website Management	625.00		1,500.00		-875.00		41.67%	
Total Expense	26,803.81		82,779.00		-55,975.19		32.38%	
Net Income	 	25,778.59		 	0.00		 	25,778.59		 	100.0%	

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
FEBRUARY 2019

REVENUES	
Annual Budget
10/1/18 - 9/30/19	

Actual Feb-19	Year To Date Actual
10/1/18 - 2/28/19	
Administrative Assessments	56,121	1,793	47,834	
Maintenance Assessments	8,511	271	7,185	
Debt Assessments	554,723	17,701	469,720	
Interest Income	300	38	209	
				
Total Revenues	$	619,655	$	19,803	$	524,948	
				
MAINTENANCE EXPENDITURES				
Maintenance Contingency	6,600	0	0	
Engineering/Inspections	1,400	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	8,000	$	-	$	-	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	5,000	0	600	
Payroll Taxes (Employer)	400	0	46	
Management	28,908	2,409	12,045	
Secretarial	4,200	350	1,750	
Legal	9,000	0	6,000	
Assessment Roll	7,500	0	0	
Audit Fees	3,900	0	0	
Arbitrage Rebate Fee	650	0	0	
Insurance	6,646	0	5,000	
Legal Advertisements	625	0	0	
Miscellaneous	1,050	22	366	
Postage	250	2	99	
Office Supplies	525	10	97	
Dues & Subscriptions	175	0	175	
Trustee Fees	4,100	0	0	
Continuing Disclosure Fee	350	0	0	
Website Management	1,500	125	625	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,779	$	2,918	$	26,803	
				
TOTAL EXPENDITURES	$	82,779	$	2,918	$	26,803	
				
Revenues Less Expenditures	$	536,876	$	16,885	$	498,145	
				
Bond Payments	(524,213)	(17,183)	(447,024)	
				
Balance	$	12,663	$	(298)	$	51,121	
				
County Appraiser & Tax Collector Fee	(11,463)	(194)	(5,042)	
Discounts For Early Payments	(22,925)	(385)	(20,300)	
				
Excess/ (Shortfall)	$	(21,725)	$	(877)	$	25,779	
				
Carryover from Prior Year	21,725	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(877)	$	25,779	

Bank Balance As Of 1/31/18	$	447,298.15	
Funds Received: 2/1/18 - 2/28/18	$	19,223.93	
Disbursements: 2/1/18 - 2/28/18	$	330,680.00	
Bank Balance As Of 2/28/18	$	135,842.08	
Accounts Payable As Of 2/28/18	$	20,251.13	
Accounts Receivable As Of 2/28/18	$	-	
Available Funds As Of 2/28/18	$	115,590.95	

ISLANDS AT DORAL (NE) CDD TAX COLLECTIONS
2018-2019

#	

ID#	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Fees	

Discount	

Net From Tax Collector	Admin.
Assessment Income (Before Discounts & Fee)	Maint Assessment Income (Before Discounts & Fee)	Debt Assessment Income (Before Discounts & Fee)	Admin.
Assessment Income (After Discounts & Fee)	Maint Assessment Income (After Discounts & Fee)	Debt Assessment Income (After Discounts & Fee)	

Debt Assessments Paid to Trustee	
									$619,355.00	$56,121.00	$8,511.00	$ 554,723.00	$56,121.00	$8,511.00	$554,723.00		
									$584,967.00	$52,754.00	$8,000.00	$ 524,213.00	$52,754.00	$8,000.00	$524,213.00	$524,213.00	
1	625	Miami-Dade Tax Collector	10/19/18	,A6 Taxes	$	2,220.06		$	(21.03)	$	(116.55)	$	2,082.48	$	201.36	$	30.40	$	1,988.30	$	188.88	$	28.55	$	1,865.05	$	1,865.05	
2	392	Miami-Dade Tax Collector	11/20/18	,A6 Taxes	$	39,382.47		$	(378.08)	$	(1,575.27)	$	37,429.12	$	3,572.07	$	539.55	$	35,270.85	$	3,394.92	$	512.75	$	33,521.45	$	33,521.45	
3	320	Miami-Dade Tax Collector	11/30/18	,A6 Taxes	$	78,324.13		$	(751.91)	$	(3,132.87)	$	74,439.35	$	7,103.98	$	1,073.05	$	70,147.10	$	6,751.65	$	1,019.80	$	66,667.90	$	66,667.90	
4	221	Miami-Dade Tax Collector	12/10/18	,A6 Taxes	$ 349,674.54		$ (3,356.88)	$ (13,986.55)	$	332,331.11	$	31,715.49	$	4,790.55	$ 313,168.50	$	30,142.41	$	4,552.95	$ 297,635.75	$	297,635.75	
5	403	Miami-Dade Tax Collector	12/21/18	,A6 Taxes	$	14,730.00		$	(142.37)	$	(492.12)	$	14,095.51	$	1,336.00	$	201.80	$	13,192.20	$	1,278.46	$	193.10	$	12,623.95	$	12,623.95	
6	305	Miami-Dade Tax Collector	01/14/19	,A6 Taxes	$	20,379.29		$	(197.69)	$	(611.39)	$	19,570.21	$	1,848.39	$	279.20	$	18,251.70	$	1,775.01	$	268.05	$	17,527.15	$	17,527.15	
7	657	Miami-Dade Tax Collector	01/29/19	Interest		$	263.92			$	263.92	$	263.92			$	263.92			$	-	
8	720	Miami-Dade Tax Collector	02/08/19	,A6 Taxes	$	19,764.55		$	(193.80)	$	(385.04)	$	19,185.71	$	1,792.65	$	270.75	$	17,701.15	$	1,740.11	$	262.80	$	17,182.80	$	17,182.80	
9	276	Miami-Dade Tax Collector	03/08/19	,A6 Taxes	$	21,126.76		$	(209.25)	$	(198.66)	$	20,718.85	$	1,916.16	$	289.45	$	18,921.15	$	1,879.15	$	283.85	$	18,555.85	$	18,555.85	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
16									$	-							$	-	
17									$	-							$	-	
18									$	-							$	-	
19									$	-							$	-	
20									$	-								
21									$	-								
					$ 545,601.80	$ 263.92	$ (5,251.01)	$ (20,498.45)	$	520,116.26	$ 49,750.02	$ 7,474.75	$ 488,640.95	$ 47,414.51	$ 7,121.85	$ 465,579.90	$ 465,579.90	

,ote: $619,355, $56,121, $8,511 and $554,723 are 2018/2019 Budgeted
Total IAD-NE Roll = 619,355.25	assessments before discounts and fees.
$584,967, $52,754, $8,000 and $524,213 are 2018/2019 Budgeted assessments after discounts and fees.

$	545,601.80		
$	263.92	$ 520,116.26	
$	(49,750.02)	$ (47,414.51)	
$	(7,474.75)	$	(7,121.85)	
$	(488,640.95)	$ (465,579.90)	
$	-	$	-