ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MARCH 12, 2024
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
March 12, 2024
7:00 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
October 10, 2023 Regular Board Meeting Minutes	Page 2
Old Business
New Business
Consider Resolution No. 2024-01 – Electronic Signature Policy	Page 5
Consider Resolution No. 2024-02 – Approving a Proposed Budget for FY 2024/2025	Page 8
Administrative Matters
Financial Update	Page 15
Board Member/Staff Comments and Requests
District Counsel’s Memorandum Regarding Required Ethics Training and Financial Disclosure	Page 19
Adjourn

..

MIAMI-DADE

STATE OF FLORIDA COUNTY OF MIAMI-DADE:

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, of 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 2023/2024 REGULAR MEETING SCHEDULE

in the XXXX Court,
was published in a newspaper by print in the issues of Miami Daily Business Review f/k/a Miami Review on

09/29/2023

GUILLERMO GARCIA personally known to me

Page 1

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 10, 2023

CALL TO ORDER

The October 10, 2023, Regular Board Meeting of the Islands at Doral (NE) Community Development District (the “District”) was called to order at 7:00 p.m. in the Second Floor Conference Room of Doral Legacy Park 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 29, 2023, as part of the District’s Fiscal Year 2023/2024 Meeting Schedule, 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 included: District Manager Gloria Perez of Special District Services, Inc.; and General Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the 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 13, 2023, Public Hearing & Regular Board Meeting

The June 13, 2023, Public Hearing & Regular Board Meeting minutes were presented for approval.

A MOTION was made by Supervisor Garcia, seconded by Supervisor Cuneo and unanimously passed approving the minutes of the June 13, 2023, 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. 2023-05 – Adopting am Amended Fiscal Year 2022/2023 Budget

Mrs. Perez presented Resolution No. 2023-05, entitled:

RESOLUTION NO. 2023-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2022/2023 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER
189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.
Mrs. Perez explained, as done every year for administrative and statutory requirements, within 60 days of any given fiscal year end, the Board adopts a revised/amended budget for said year. The fiscal year ended on September 30, 2023. This is the reason it is administrative in nature (past year’s budget for past year’s expenses) and will serve as the Board’s final approval/ratification of the District’s expenditures for the past fiscal year.

A MOTION was made by Supervisor Garcia, seconded by Supervisor Cuneo and unanimously passed adopting Resolution No. 2023-05, adopting a Fiscal Year 2022/2023 Amended Budget.

ADMINISTRATIVE MATTERS
Financial Update
Mrs. Perez presented the financials in the meeting book and briefly reviewed them. She pointed out that the available funds as of September 30, 2023, were $66,196.26.

Form 1 – Statement of Financial Interests

Mrs. Perez advised that, according to the Public Ethics State of Florida website, all Board Members had complied with the requirement to file a Form 1 – Statement of Financial Interests.

BOARD MEMBER/STAFF COMMENTS
2023 Florida Legislative Session Update
Mr. George provided an overview of the 2023 Florida Legislative Session presented in the meeting materials.

Required Ethics Training

Mr. George provided an overview of the newly required ethics training presented in the meeting materials, noting that the requirements would be effective in 2024 and that his firm would prepare additional information and links to training sessions sometime in January.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Supervisor Arias, seconded by Supervisor Garcia and passed unanimously adjourning the Regular Board Meeting at 7:06 p.m.

ATTEST:

Secretary/Assistant Secretary	Chairman/Vice-Chair

RESOLUTION 2024-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT ESTABLISHING AN ELECTRONIC SIGNATURE POLICY, PROVIDING DISTRICT MANAGER WITH AUTHORITY AND RESPONSIBILITY FOR APPROVAL OF ELECTRONIC SIGNATURES AND IMPLEMENTATION OF CONTROL PROCESSES AND PROCEDURES TO ENSURE COMPLIANCE, INTEGRITY, AND SECURITY, IN ACCORDANCE WITH CHAPTER 688, FLORIDA STATUTES; AND PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE.

WHEREAS, the Islands at Doral (NE) Community Development District (the “District”), is a local unit of special-purpose government organized and existing in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”); and

WHEREAS, the Board of Supervisors of the District regularly directs the District Manager of the District to execute and accept certain documents on behalf of the District and it is customary for certain documents to be transmitted via electronic means endorsed with electronic signatures; and

WHEREAS, consistent with Chapter 688, Florida Statutes, the District is responsible for adopting and implementing control processes and procedures to ensure adequate integrity, security, confidentiality, and auditability of business transactions conducted using electronic commerce; and

WHEREAS, the District Board of Supervisors finds that it is in the best interest of the District to enact a policy pertaining to the use and receipt of electronic signatures.

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

Section 1.  The foregoing recitals are hereby incorporated as findings of fact of the District Board of Supervisors.

Section 2.  The Board of Supervisors of the Islands at Doral (NE) Community Development District hereby establishes and adopts the “Electronic Signature Policy,” as follows:

ELECTRONIC SIGNATURE POLICY

PURPOSE: The purpose of this policy is to establish and identify the criteria and requirements for the use and validation of electronic signatures on documents on behalf of and for District business in accordance with Chapter 688, Florida Statutes, “Electronic Signature Act”.

DEFINITIONS:

Electronic means technology having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities.

Electronic record means a record created, generated, sent, communicated, received, or stored by electronic means.

Electronic signature means any letters, characters, or symbols, manifested by electronic or similar means, or logically associated with a record and that is executed or adopted with the intent to sign the record.

Electronic transaction means a transaction that is conducted or performed, in whole or in part, by electronic means or electronic records.

Record means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and that is retrievable in perceivable form.

POLICY: This policy applies to any Electronic transaction that is a replacement for or complement to handwritten signatures on any record of or for the District, including, but not limited to, contracts, agreements, official minutes, bids, proposals and resolutions. Any Electronic record or Electronic signature may not be denied legal effect or enforceability solely because the record or signature is in electronic form. This policy does not limit the District’s right or option to require original signatures or Records in a non-electronic format as the District deems necessary or as required by appliable policies, laws or regulations.

PROCEDURE: When a document containing an Electronic signature is signed, transmitted and received the following requirements must be met:

The Electronic signature must establish sender/user authenticity. The electronic signing of a document by an individual must be accompanied by documentation that shows that the signer is the individual signing the document and the individual that has the authority to bind the entity entering into an agreement or contract with the District.

If a document has been modified or changed, the prior Electronic signature is invalid and said document requires another Electronic signature or shall be signed by hand. This is to prevent any issue that a document has been changed after it is signed.

The District Manager, or his or her designee, has the authority and responsibility for approval of any Electronic signature method utilized and shall be responsible for the implementation of control processes and procedures to ensure adequate integrity, security, confidentiality, and auditability of District business transactions conducted using electronic methods.

The Electronic signature shall include the entire name of the individual and shall be located on or near the signature block on the document being electronically signed.

The date of the Electronic signature must be captured, stored, and available for retrieval for the required retention period of the document executed.

The Electronic record must be transmitted to all parties in a format acceptable to the District Manager, or his or her designee.

Section 3.  The District Manager is hereby directed to take all actions necessary and consistent with the intent of this Resolution.

Section 4.  All resolutions or parts of resolutions in conflict herewith are repealed to the extent of such conflict.

Section 5.   If any clause, section or other part or application of this Resolution is held by a court of competent jurisdiction to be unconstitutional, illegal or invalid, in part or as applied, it shall not affect the validity of the remaining portions or applications of this Resolution.

Section 6.	The Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 12th DAY OF MARCH, 2024.

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairman/Vice Chairman

RESOLUTION NO. 2024-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2024/2025; 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 2024/2025 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 2024/2025 attached hereto as Exhibit “A” is approved and adopted.

Section 2.   A Public Hearing is hereby scheduled for May 14, 2024 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 2024/2025 Budget.

PASSED, ADOPTED and EFFECTIVE this 12th day of March, 2024.

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 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
Administrative Assessments	88,450	
Maintenance Assessments	8,510	
Debt Assessments	554,723	
Interest Income	480	
		
TOTAL REVENUES	$	652,163	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Maintenance Contingency	5,000	
Engineering/Inspections	3,000	
TOTAL MAINTENANCE EXPENDITURES	$	8,000	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Management	33,348	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	7,500	
Audit Fees	3,900	
Arbitrage Rebate Fee	650	
Insurance	7,300	
Legal Advertisements	4,000	
Miscellaneous	800	
Postage	450	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fees	4,100	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	83,623	
		
TOTAL EXPENDITURES	$	91,623	
		
REVENUES LESS EXPENDITURES	$	560,540	
		
Bond Payments	(524,213)	
		
BALANCE	$	36,327	
		
County Appraiser & Tax Collector Fee	(12,109)	
Discounts For Early Payments	(24,218)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
Administrative Assessments	58,749	57,609	88,450	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	7,448	6,915	8,510	Expenditures /.94	
Debt Assessments	554,725	554,723	554,723	Bond Payments/.94	
Interest Income	5,099	240	480	Interest Projected At $40 Per Month	
					
TOTAL REVENUES	$	626,021	$	619,487	$	652,163		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance Contingency	0	4,500	5,000	$500 Increase From 2023/2024 Budget	
Engineering/Inspections	1,247	2,000	3,000	$1,000 Increase From 2023/2024 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	1,247	$	6,500	$	8,000		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,800	5,000	5,000	No Change From 2023/2024 Budget	
Payroll Taxes (Employer)	138	400	400	Projected At 8% Of Supervisor Fees	
Management	31,452	32,388	33,348	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2023/2024 Budget	
Legal	7,063	9,000	9,000	No Change From 2023/2024 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2023/2024 Budget	
Arbitrage Rebate Fee	650	650	650	No Change From 2023/2024 Budget	
Insurance	6,134	6,600	7,300	Fiscal Year 2023/2024 Expenditure Was $6,594	
Legal Advertisements	272	600	4,000	Costs Will Increase Due To Closing Of The Miami Business Review	
Miscellaneous	383	800	800	No Change From 2023/2024 Budget	
Postage	165	450	450	No Change From 2023/2024 Budget	
Office Supplies	223	450	450	No Change From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fees	4,080	4,100	4,100	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,285	$	78,463	$	83,623		
					
TOTAL EXPENDITURES	$	71,532	$	84,963	$	91,623		
					
REVENUES LESS EXPENDITURES	$	554,489	$	534,524	$	560,540		
					
Bond Payments	(529,918)	(524,213)	(524,213)	2025 Principal & Interest Payments	
					
BALANCE	$	24,571	$	10,311	$	36,327		
					
County Appraiser & Tax Collector Fee	(5,987)	(11,460)	(12,109)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(21,650)	(22,921)	(24,218)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(3,066)	$	(24,070)	$	-		
					
Carryover From Prior Year	0	24,070	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(3,066)	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
15,071	
100	
500	
Projected Interest For 2024/2025	

NAV Tax Collection	
529,918	
524,213	
524,213	
NAV Tax Collection	

Total Revenues	
$	544,989	
$	524,313	
$	524,713		

EXPENDITURES					

Principal Payments	
275,000	
285,000	
305,000	
Principal Payment Due In 2025	

Interest Payments	
125,703	
107,512	
91,919	
Interest Payments Due In 2025	

Additional Principal Payments	
110,000	
131,801	
127,794	
Additional Principal Payments	

Total Expenditures	
$	510,703	
$	524,313	
$	524,713		

Excess/ (Shortfall)	
$	34,286	
$	-	
$	-		

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 1/1/2024 =	May 2029

$2,825,000			

Original Principal Amount Due In May 2029: $2,225,000 Current Principal Amount Due In May 2029: $1,255,000

Islands At Doral (NE) Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	2024/2025	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative For Single Family Homes	

$	107.59	

$	107.55	

$	108.50	

$	

166.58	
Maintenance For Single Family Homes	$	14.03	$	14.03	$	13.03	$	16.03	
Debt For Single Family Homes	$	1,587.68	$	1,587.68	$	1,587.68	$	1,587.68	
Total	$	1,709.30	$	1,709.26	$	1,709.21	$	1,770.29	

Administrative For Townhomes	
$	107.59	
$	107.55	
$	108.50	
$	166.58	
Maintenance For Townhomes	$	14.03	$	14.03	$	13.03	$	16.03	
Debt For Townhomes	$	1,133.61	$	1,133.61	$	1,133.61	$	1,133.61	
Total	$	1,255.23	$	1,255.19	$	1,255.14	$	1,316.22	

Administrative For Condominiums	
$	107.59	
$	107.55	
$	108.50	
$	166.58	
Maintenance For Condominiums	$	14.03	$	14.03	$	13.03	$	16.03	
Debt For Condominiums	$	906.57	$	906.57	$	906.57	$	906.57	
Total	$	1,028.19	$	1,028.15	$	1,028.10	$	1,089.18	

* 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

Islands At Doral (NE) Community Development District

Financial Report For February 2024

Islands at Doral (NE) Community Development District
Budget vs. Actual
October 2023 through February 2024

	Oct '23 - Feb 24		23/24 Budget		$ Over Budget		% of Budget	
Income								
363.100 ꞏ Admin Assessment Income	51,396.76		57,609.00		-6,212.24		89.22%	
363.101 ꞏ Maint Assessment Income	6,189.71		6,915.00		-725.29		89.51%	
363.810 ꞏ Debt Assessment	495,066.70		554,723.00		-59,656.30		89.25%	
363.820 ꞏ Debt Assessment-Paid To Trustee	-470,942.98		-524,213.00		53,270.02		89.84%	
363.830 ꞏ Assessment Fees	-5,310.35		-11,460.00		6,149.65		46.34%	
363.831 ꞏ Discounts For Early Payments	-21,619.46		-22,921.00		1,301.54		94.32%	
369.401 ꞏ Interest Income	4,558.47		240.00		4,318.47		1,899.36%	
369.402 ꞏ Carryover From Prior Year	0.00		24,070.00		-24,070.00		0.0%	
Total Income	59,338.85		84,963.00		-25,624.15		69.84%	
Expense								
511.122 ꞏ Payroll Expense	45.90		400.00		-354.10		11.48%	
511.131 ꞏ Supervisor Fee	600.00		5,000.00		-4,400.00		12.0%	
511.305 ꞏ Maintenance Contingency	0.00		4,500.00		-4,500.00		0.0%	
511.310 ꞏ Engineering	0.00		2,000.00		-2,000.00		0.0%	
511.311 ꞏ Management Fees	13,495.00		32,388.00		-18,893.00		41.67%	
511.312 ꞏ Secretarial Fees	1,750.00		4,200.00		-2,450.00		41.67%	
511.315 ꞏ Legal Fees	1,822.50		9,000.00		-7,177.50		20.25%	
511.318 ꞏ Assessment/Tax Roll	0.00		7,500.00		-7,500.00		0.0%	
511.320 ꞏ Audit Fees	0.00		3,800.00		-3,800.00		0.0%	
511.330 ꞏ Arbitrage Rebate Fee	0.00		650.00		-650.00		0.0%	
511.450 ꞏ Insurance	6,594.00		6,600.00		-6.00		99.91%	
511.480 ꞏ Legal Advertisements	0.00		600.00		-600.00		0.0%	
511.512 ꞏ Miscellaneous	201.95		800.00		-598.05		25.24%	
511.513 ꞏ Postage and Delivery	67.29		450.00		-382.71		14.95%	
511.514 ꞏ Office Supplies	58.70		450.00		-391.30		13.04%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	0.00		4,100.00		-4,100.00		0.0%	
511.734 ꞏ Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
511.750 ꞏ Website Management	833.30		2,000.00		-1,166.70		41.67%	
Total Expense	25,643.64		84,963.00		-59,319.36		30.18%	
Net Income		33,695.21			0.00			33,695.21			100.0%	

ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
FEBRUARY 2024

REVENUES	
Annual Budget
10/1/23 - 9/30/24	

Actual Feb-24	Year To Date Actual
10/1/23 - 2/29/24	
Administrative Assessments	57,609	1,381	51,397	
Maintenance Assessments	6,915	166	6,190	
Debt Assessments	554,723	13,300	495,067	
Interest Income	240	0	4,558	
				
Total Revenues	$	619,487	$	14,847	$	557,212	
				
MAINTENANCE EXPENDITURES				
Maintenance Contingency	4,500	0	0	
Engineering/Inspections	2,000	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	6,500	$	-	$	-	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	5,000	0	600	
Payroll Taxes (Employer)	400	0	46	
Management	32,388	2,699	13,495	
Secretarial	4,200	350	1,750	
Legal	9,000	0	1,823	
Assessment Roll	7,500	0	0	
Audit Fees	3,800	0	0	
Arbitrage Rebate Fee	650	0	0	
Insurance	6,600	0	6,594	
Legal Advertisements	600	0	0	
Miscellaneous	800	0	202	
Postage	450	2	68	
Office Supplies	450	6	59	
Dues & Subscriptions	175	0	175	
Trustee Fees	4,100	0	0	
Continuing Disclosure Fee	350	0	0	
Website Management	2,000	166	833	
TOTAL ADMINISTRATIVE EXPENDITURES	$	78,463	$	3,223	$	25,645	
				
TOTAL EXPENDITURES	$	84,963	$	3,223	$	25,645	
				
Revenues Less Expenditures	$	534,524	$	11,624	$	531,567	
				
Bond Payments	(524,213)	(12,884)	(470,943)	
				
Balance	$	10,311	$	(1,260)	$	60,624	
				
County Appraiser & Tax Collector Fee	(11,460)	(145)	(5,310)	
Discounts For Early Payments	(22,921)	(320)	(21,619)	
				
Excess/ (Shortfall)	$	(24,070)	$	(1,725)	$	33,695	
				
Carryover from Prior Year	24,070	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(1,725)	$	33,695	

Bank Balance As Of 2/29/24	$	131,229.40	
Accounts Payable As Of 2/29/24	$	32,139.12	
Accounts Receivable As Of 2/29/24	$	-	
Available Funds As Of 2/29/24	$	99,090.28	

ISLANDS AT DORAL (NE) CDD TAX COLLECTIONS
2023-2024

#	

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	
									$619,247.00	$57,609.00	$6,915.00	$  554,723.00	$57,609.00	$6,915.00	$554,723.00		
									$584,865.00	$54,152.00	$6,500.00	$  524,213.00	$54,152.00	$6,500.00	$524,213.00	$524,213.00	
1	1	Miami-Dade Tax Collector	11/20/23	NAV Taxes	$	57,827.12		$	(554.42)	$	(2,385.64)	$	54,887.06	$	5,377.93	$	647.66	$	51,801.53	$	5,104.50	$	614.73	$	49,167.83	$	49,167.83	
2	2	Miami-Dade Tax Collector	11/24/23	NAV Taxes	$	47,146.95		$	(452.61)	$	(1,885.84)	$	44,808.50	$	4,384.66	$	528.05	$	42,234.24	$	4,167.19	$	501.86	$	40,139.45	$	40,139.45	
3	3	Miami-Dade Tax Collector	12/08/23	NAV Taxes	$  388,326.08		$  (3,727.93)	$  (15,532.60)	$	369,065.55	$	36,114.33	$	4,349.25	$  347,862.50	$	34,323.10	$	4,133.53	$  330,608.92	$	330,608.92	
4	4	Miami-Dade Tax Collector	12/27/23	NAV Taxes	$	27,625.88		$	(266.24)	$	(1,002.29)	$	26,357.35	$	2,569.21	$	309.41	$	24,747.26	$	2,451.24	$	295.20	$	23,610.91	$	23,610.91	
5	5	Miami-Dade Tax Collector	01/09/24	NAV Taxes	$	16,879.66		$	(163.86)	$	(493.34)	$	16,222.46	$	1,569.81	$	189.05	$	15,120.80	$	1,508.70	$	181.68	$	14,532.08	$	14,532.08	
6	6	Miami-Dade Tax Collector	02/06/24	NAV Taxes	$	14,847.48		$	(145.29)	$	(319.75)	$	14,382.44	$	1,380.82	$	166.29	$	13,300.37	$	1,337.57	$	161.08	$	12,883.79	$	12,883.79	
7									$	-							$	-	
8									$	-							$	-	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
16									$	-							$	-	
17									$	-							$	-	
					$ 552,653.17	$	-	$ (5,310.35)	$ (21,619.46)	$	525,723.36	$  51,396.76	$  6,189.71	$ 495,066.70	$ 48,892.30	$  5,888.08	$ 470,942.98	$  470,942.98	

Note: $619,247, $57,609, $6,915 and $554,723 are 2023/2024 Budgeted
Total IAD-NE Roll = 619,254.36	assessments before discounts and fees.
$584,865, $54,152, $6,500 and $524,213 are 2023/2024 Budgeted assessments after discounts and fees.

$	552,653.17		
$	-	$  525,723.36	
$	(51,396.76)	$  (48,892.30)	
$	(6,189.71)	$	(5,888.08)	
$	(495,066.70)	$ (470,942.98)
$	-	$	-

MEMORANDUM
TO:	District Manager

FROM:	Billing, Cochran, Lyles, Mauro & Ramsey, P.A. District Counsel

DATE:	January 19, 2024

RE:	Required Ethics Training and Financial Disclosure

Ethics Training

This memorandum serves as a reminder that beginning January 1, 2024, elected and appointed commissioners of community redevelopment agencies and local officers of independent special districts are required to complete four (4) hours of ethics training annually. The training must address, at a minimum, s. 8, Art. II of the Florida Constitution (ethics for public officers and financial disclosure), the Code of Ethics for Public Officers and Employees, and the Florida Public Records Law and Open Meetings laws.

Deadlines & Recordkeeping

The deadline to complete training for this calendar year is December 31, 2024. There is no requirement to submit proof that you have completed the training. However, the Florida Commission on Ethics recommends that Supervisors maintain a record of all completed trainings, including the date and time of completion. This documentation may be useful if Supervisors are ever required to provide evidence of training completion. The training is a calendar year requirement and corresponds to the form year. Therefore, Supervisors will report their 2024 training when filling out their Form 1 for the 2025 year.

Links to Online Training

Public Meetings and Public Records Law (2-Hour Audio Presentation). This presentation is audio only and is offered by the Office of the Attorney General. This presentation covers public records and Florida public records law. The presentation can be accessed for free. Completing this presentation will satisfy 2 of the 4 hours of required ethics training.

State Ethics Laws for Constitutional Officers & Elected Municipal Officers. This training is presented by the Florida Commission on Ethics. The training is an overview of Florida’s Ethics Code (Part III, Chapter 112, and Article II, Section 8, Florida Constitution) geared toward Constitutional Officers and Elected Municipal Officers. Topics covered include gifts, voting conflict, misuse of office, prohibited business relationships, conflicting employment relationships, revolving door, and Amendment 12. This presentation can be accessed for free. Completing this training will satisfy 2 of the 4 hours of required ethics training.

State-Mandated Continuing Education in Ethics. This class is presented by the Florida League of Cities. The class covers Chapter 112 of Florida’s Ethics Code (2 Hours) and Florida Public Records and Public Meetings Law (2 Hours). To take this class, you must register for it, however there is no registration fee. Completing this class will meet your ethics training requirement.

“4-Hour Ethics Course”. The “4-Hour Ethics Course” is available online and presented by the Florida Institute of Government. There are three sessions. Session 1 covers Florida’s Public Records Laws (1 hour), session 2 covers Florida Government in the Sunshine Law (1 hour), and session 3 covers Florida’s Ethics Laws (2 hours). The registration fee is $79. Completing this entire course will meet your ethics training requirement.

Sunshine Law, Public Records and Ethics for Public Officers and Public Employees 2023. This seminar is offered by the Florida Bar. This seminar covers sunshine law and public records; true stories of excess corruption in the ethics world; navigating Florida public records law, privacy, ethics and social media; complaints, misuse, anti-nepotism and voting; ethics during and after public service: conflicting contractual relationships & revolving door restrictions; gifts bribes, honoraria, and expenditures. The cost for this seminar is $280. Completing this entire seminar will meet your ethics training requirement. Those Supervisors or Officers who are members of the Florida Bar may wish to purchase this option as Continuing Legal Education Credits can be earned.

We will notify you directly or through the District Manager’s office if and when other training opportunities become available.

Form 1 or Form 6

Section 8, Article II of the Florida Constitution requires constitutional officers and certain elected public officials to file a Form 6. In the last session, the legislature expanded the requirements to include elected members of municipalities. Independent special district officials remain exempt from the requirement to file a Form 6. Elected and appointed commissioners of community redevelopment agencies and local officers of independent special districts (including community development districts) are required to file Form 1.

For this year’s filing requirement, a completed Form 1 must be submitted prior to July 1, 2024 using the Electronic Filing System of the Florida Commission on Ethics, which can be accessed via the link at Login - Electronic Financial Disclosure Management System (floridaethics.gov). You will no longer be able to file your completed Form 1 through your local Supervisor of Elections office.

If you have any questions or need additional information about ethics training requirements or financial disclosure, please do not hesitate to contact our office.