South Kendall
Community Development District

Unaudited Financial Reporting
July 31, 2023

Table of Contents

1

2-3

4

5-6

7

Balance Sheet

General Fund

Debt Service Fund Series 2016

Month to Month

Long Term Debt Report

8	Assessment Receipt Schedule

South Kendall	
Community Development District	
Combined Balance Sheet	
July 31, 2023	

General	Debt Service	Totals	
Fund	Fund	Governmental Funds	

Assets:	
Cash:	
Operating Account	
Petty Cash	

$	329,381	
500	

$	-	
-	

$	329,381	
500	

Investments:	
State Board - Excess Funds	
State Board - Capital Reserve	

10,680	
9,218	

-	
-	

10,680	
9,218	

Series 2016	
Reserve	
Revenue	
Interest	
Principal	

-	
-	
-	
-	

345,875	
575,644	
108	
193	

-	
345,875	
575,644	
108	
193	

Prepaid Expenses	
Deposits	

21,240	
4,821	

-	
-	

21,240	
4,821	

Total Assets	$	375,841	$	940,844	$	1,316,684	

Liabilities:	
Accounts Payable	$	3,242	$	-	$	3,242	

Total Liabilites	$	3,242	$	-	$	3,242

$	21,240	
4,821	

$	-	
-	

$	21,240	
4,821	

Fund Balance:	
Nonspendable:	
Prepaid Items	
Deposits	
Restricted for:	
Debt Service - Series	
Assigned for:	
Capital Reserves	
Unassigned	

-	940,844	940,844

9,218	
337,319	

-	
-	

9,218	
337,319	

Total Fund Balances	$	372,599	$	940,844	$	1,313,442	
				
Total Liabilities & Fund Balance	$	375,841	$	940,844	$	1,316,684	

South Kendall	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending July 31, 2023	

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/23	Thru 07/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll	$	887,140	
Interest Income	-	

$	887,140	
-	

$	895,078	
10,258	

$	7,938	
10,258	

Total Revenues	$  887,140	$  887,140	$905,336	$	18,196	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	5,000	$	4,000	$	3,200	$	800	
PR-FICA	383	306	245	61	
Engineering	6,000	5,000	5,502	(502)	
Attorney	18,000	15,000	6,965	8,035	
Annual Audit	4,100	4,100	4,100	-	
Arbitrage Rebate	2,750	2,750	-	2,750	
Dissemination Agent	2,500	2,083	2,083	0	
Trustee Fees	3,250	3,250	3,250	-	
Management Fees	51,858	43,215	43,215	0	
Computer Time	1,000	833	833	0	
Website Maintenance	3,000	2,500	2,500	-	
Telephone	150	125	-	125	
Postage & Delivery	500	417	271	145	
Rental & Leases	2,400	2,000	2,000	-	
Insurance General Liability	10,010	10,010	8,966	1,044	
Printing & Binding	1,250	1,042	109	933	
Legal Advertising	750	625	-	625	
Other Current Charges	750	625	222	403	
Office Supplies	250	208	-	208	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$  114,076	$	98,265	$	83,636	$	14,629	

Operations & Maintenance

Maintenance Expenditures		
Security Service	$	181,991	
Landscape Maintenance	91,904	
Landscape-Ficus Fumigation	9,000	
Seasonal Landscape Maintenance	36,000	
Tree Trimming	50,000	

$	151,659	
77,765	
9,000	
30,000	
50,000	

$	157,614	
90,086	
8,000	
22,300	
135,300	

$	(5,955)	
(12,321)	
1,000	
7,700	
(85,300)	

South Kendall	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending July 31, 2023	

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/23	Thru 07/31/23	Variance	

Maintenance Expenditures (continued)

Repairs and Maintenance	33,000	
Sprinkler Repairs and Maintenance	12,000	
Stormwater Drainage Cleaning	-	
Contingency	4,340	
Holiday Décor	7,000	
Capital Outlay	-	

33,000	
12,000	
-	
3,617	
7,000	
-	

71,495	
20,410	
39,675	
-	
7,518	
10,200	

(38,495)	
(8,410)	
(39,675)	
3,617	
(518)	
(10,200)	

Subtotal Maintenance Expenditures	$  425,235	$  374,041	$  562,597	$	(188,557)	

Clubhouse and Amenities Expenditures		
Management Clubhouse	$	137,257	
Alarm Monitoring & Fire	2,211	
Telephone/Cable	5,640	
Electricity	25,000	
Water/Sewer	8,000	
Property Insurance	22,538	
Refuse Service	1,488	
Repairs and Replacements	30,000	
Pool Maintenance	23,760	
Pool Repairs	15,000	
Landscape Maintenance	35,741	
Fitness Equipment Maintenance	3,500	
Other Contingency	28,973	
Special Events	10,000	
Office Supplies	1,000	
Janitorial Supplies	15,000	
Permit Fees	1,000	
Pest Control	556	

$	114,381	
1,843	
4,700	
20,833	
6,667	
22,538	
1,488	
25,000	
19,800	
12,500	
30,242	
3,500	
24,144	
8,333	
833	
12,500	
1,000	
464	

$	119,523	
1,998	
5,521	
18,918	
4,337	
21,933	
1,566	
28,845	
19,800	
4,790	
33,322	
3,933	
-	
2,349	
-	
12,514	
641	
480	

$	(5,142)	
(155)	
(821)	
1,915	
2,330	
605	
(78)	
(3,845)	
-	
7,710	
(3,080)	
(433)	
24,144	
5,984	
833	
(14)	
359	
(16)	

Subtotal Clubhouse and Amenity Expenditures	$  366,665	$  310,766	$  280,471	$	30,296	

Total Operations & Maintenance	$  791,900	$  684,807	$  843,068	$	(158,261)	

Total Expenditures	$  905,976	$  783,072	$  926,704	$	(143,632)	

Excess (Deficiency) of Revenues over Expenditures	$	(18,836)	$	104,068	$	(21,368)	$	(125,436)	

Net Change in Fund Balance	$	(18,836)	$  104,068	$	(21,368)	$	(125,436)	
					
Fund Balance - Beginning	$	18,836		$	393,966		
					
Fund Balance - Ending	$	-		$	372,599		

South Kendall	
Community Development District	
Debt Service Fund Series 2016	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending July 31, 2023	

Adopted	Prorated Budge	Actual	
Budget	Thru 07/31/23	Thru 07/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll	$	633,986	
Interest Income	-	

$	633,986	
-	

$	639,116	
29,777	

$	5,130	
29,777	

Total Revenues	$  633,986	$  633,986	$668,893	$	34,906	

Expenditures:		
Interest - 11/1	143,119	143,119	143,119	-	
Principal - 11/01	335,000	335,000	335,000	-	
Interest - 5/1	139,350	139,350	139,350	-	
Total Expenditures	$  617,469	$  617,469	$  617,469	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	16,517	$	16,517	$	51,424	$	34,906	

Net Change in Fund Balance	$	16,517	$	16,517	$	51,424	$	34,906	
		
Fund Balance - Beginning	$	554,507	$	889,420	
		
Fund Balance - Ending	$	571,025	$	940,844	

South Kendall	
Community Development District	
Month to Month	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:														
Special Assessments - Tax Roll	$	-	$	107,255	$	675,520	$	48,695	$	13,060	$	9,990	$	13,750	$	3,380	$	23,428	$	-	$	-	$	-	$	895,078	
Interest Income	686	376	1,011	3,646	2,799	1,347	81	134	177	-	-	-	10,258	

Total Revenues	$	686	$  107,631	$  676,531	$	52,341	$	15,859	$	11,337	$	13,831	$	3,514	$	23,605	$	-	$	-	$	-	$  905,336	

Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	-	$	-	$	800	$	-	$	800	$	-	$	800	$	-	$	-	$	3,200	
PR-FICA	-	61	-	-	-	61	-	61	-	61	-	-	245	
Engineering	-	-	-	-	4,313	-	-	-	1,189	-	-	-	5,502	
Attorney	1,035	500	500	500	1,103	500	908	500	1,420	-	-	-	6,965	
Annual Audit	-	-	4,100	-	-	-	-	-	-	-	-	-	4,100	
Arbitrage Rebate	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dissemination Agent	208	208	208	208	208	208	208	208	208	208	-	-	2,083	
Trustee Fees	3,250	-	-	-	-	-	-	-	-	-	-	-	3,250	
Management Fees	4,322	4,322	4,322	4,322	4,322	4,322	4,322	4,322	4,322	4,322	-	-	43,215	
Computer Time	83	83	83	83	83	83	83	83	83	83	-	-	833	
Website Maintenance	250	250	250	250	250	250	250	250	250	250	-	-	2,500	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	10	5	53	-	57	49	56	6	31	5	-	-	271	
Rental & Leases	200	200	200	200	200	200	200	200	200	200	-	-	2,000	
Insurance General Liability	8,966	-	-	-	-	-	-	-	-	-	-	-	8,966	
Printing & Binding	23	4	14	9	10	1	12	16	8	13	-	-	109	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	60	32	-	-	-	70	-	60	-	-	-	-	222	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	18,582	$	6,465	$	9,730	$	5,572	$	10,545	$	6,544	$	6,038	$	6,506	$	7,711	$	5,943	$	-	$	-	$	83,636	

South Kendall	
Community Development District	
Month to Month	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Operations & Maintenance

Maintenance Expenditures														
Security Service	$	16,046	$	15,784	$	16,066	$	16,046	$	15,169	$	15,779	$	14,813	$	16,046	$	15,820	$	16,046	$	-	$	-	$	157,614	
Landscape Maintenance	7,790	7,790	11,684	7,790	12,190	7,789	7,790	7,790	11,684	7,790	-	-	90,086	
Landscape-Ficus Fumigation	-	2,500	-	-	-	5,500	-	-	-	-	-	-	8,000	
Seasonal Landscape Maintenance	-	-	-	-	-	-	-	22,300	-	-	-	-	22,300	
Tree Trimming	-	-	-	67,650	67,650	-	-	-	-	-	-	-	135,300	
Repairs and Maintenance	34,650	3,800	4,060	3,250	3,650	5,900	-	14,875	1,310		-	-	71,495	
Sprinkler Repairs and Maintenance	800	7,510	800	800	800	800	2,750	1,210	4,140	800	-	-	20,410	
Stormwater Drainage Cleaning	-	-	-	-	-	-	39,675	-	-	-	-	-	39,675	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Décor							7,518		-	-	-	-	7,518	
Capital Outlay	10,200	-	-	-	-	-	-	-	-	-	-	-	10,200	

Subtotal Field Expenditures	$	69,486	$	37,383	$	32,611	$	95,536	$	99,459	$	35,768	$	72,545	$	62,221	$	32,954	$	24,636	$	-	$	-	$  562,597	

Clubhouse and Amenities Expenditures	
Management Clubhouse	$	11,816	$	11,816	$	11,816	$	11,816	$	11,816	$	11,816	$	11,816	$	11,816	$	12,916	$	12,076	$	-	$	-	$	119,523	
Alarm Monitoring & Fire	-	678	-	-	-	-	-	603	718	-	-	-	1,998	
Telephone/Cable	532	531	531	541	542	542	542	558	602	602	-	-	5,521	
Electricity	1,807	1,792	1,902	1,993	1,739	1,765	1,941	1,780	2,060	2,139	-	-	18,918	
Water/Sewer	-	-	1,195	-	-	1,983	-	-	1,159	-	-	-	4,337	
Property Insurance	21,933	-	-	-	-	-	-	-	-	-	-	-	21,933	
Refuse Service	1,566	-	-	-	-	-	-	-	-	-	-	-	1,566	
Repairs and Replacements	27,220	-	-	-	200	-	625	-	-	800	-	-	28,845	
Pool Maintenance	1,980	1,980	1,980	1,980	1,980	1,980	1,980	1,980	1,980	1,980	-	-	19,800	
Pool Repairs	-	-	270	-	450	2,880	-	-	398	792	-	-	4,790	
Landscape Maintenance	3,029	3,029	4,544	3,029	3,029	3,029	3,029	3,029	4,544	3,029	-	-	33,322	
Fitness Equipment Maintenance	125	125	125	125	125	125	125	125	125	2,808	-	-	3,933	
Other Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Special Events	2,349	-	-	-	-	-	-	-	-	-	-	-	2,349	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Janitorial Supplies	1,357	2,580	644	-	1,621	3,480	752	-	1,288	792	-	-	12,514	
Permit Fees	-	-	-	-	-	-	-	-	641	-	-	-	641	
Pest Control	46	46	46	49	49	49	49	49	49	49	-	-	480	

Subtotal Amenity Expenditures	$	73,761	$	22,577	$	23,053	$	19,533	$	21,552	$	27,649	$	20,859	$	19,940	$	26,480	$	25,067	$	-	$	-	$  280,471	

Total Operations & Maintenance	$  143,247	$	59,960	$	55,664	$  115,069	$  121,010	$	63,417	$	93,404	$	82,161	$	59,434	$	49,703	$	-	$	-	$  843,068	

Total Expenditures	$  161,829	$	66,425	$	65,393	$  120,641	$  131,555	$	69,961	$	99,442	$	88,668	$	67,145	$	55,646	$	-	$	-	$  926,704	

Excess (Deficiency) of Revenues over Expe	$  (161,142)	$	41,206	$	611,138	$	(68,300)	$  (115,696)	$	(58,623)	$	(85,611)	$	(85,154)	$	(43,540)	$	(55,646)	$	-	$	-	$	(21,368)	

Net Change in Fund Balance	$ (161,142)	$	41,206	$  611,138	$  (68,300)	$ (115,696)	$  (58,623)	$  (85,611)	$  (85,154)	$  (43,540)	$  (55,646)	$	-	$	-	$  (21,368)	

	

	

	

	

South Kendall	
Community Development District	
Long Term Debt Report	

Series 2016, Special Assessment Refunding Bonds

Bond Issuance:	9/28/2016	$9,095,000	
Maturity Date:	11/1/2040	
Reserve Fund Definition	50% of Maximum Annual Debt Service	
Reserve Fund Requirement	$316,993.50		
Reserve Fund Balance	345,874.70		
Term 1:	$3,375,000		
	2.000%,2.250%,		
Interest Rate:	2.500%, 2.750%,		
	3.000%, 3250%		
Maturity Date:	11/1/2026		
Term 2:	$2,115,000		
Interest Rate:	4.000%		
Maturity Date:	11/1/2031		
Term 3:	$2,745,000		
Interest Rate:	4.250%		
Maturity Date:	11/1/2036		
Term 4:	$860,000		
Interest Rate:	4.125%		
Maturity Date:	11/1/2040		

Bonds Outstanding:		
$9,095,000	
Less: Principal Payment - 11/1/17		($280,000)	
Less: Principal Payment - 11/1/18		($320,000)	
Less: Principal Payment - 11/1/19		($325,000)	
Less: Principal Payment - 11/1/20		($330,000)	
Less: Principal Payment - 11/1/21		($330,000)	
Less: Principal Payment - 11/1/22		($335,000)	
Current Bonds Outstanding		$7,175,000	

Page 7

South Kendall
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Miami Dade County Fiscal Year 2023

Gross Assessments	$	935,490.90	$	668,806.98	$	1,604,297.88	
Net Assessments	$	888,716.36	$	635,366.63	$	1,524,082.99	
ON ROLL ASSESSMENTS
allocation in %	58.31%	41.69%	100.00%

Date	
Distribution	
Gross Amount	Discoumt/ Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	2016 Debt Service	
Total	

11/23/22	
11/01-11/11/22	
$	132,407.89	
$	5,420.27	
$	1,269.87	
$	-	
$	125,717.75	
$	73,307.96	
$	52,409.79	
$	125,717.75	
11/24/22	11/12-11/20/22	61,232.86	2,427.38	588.06	-	58,217.42	33,947.48	24,269.94	58,217.42	
12/06/22	11/19-11/30/22	1,180,740.54	47,230.06	11,335.11	-	1,122,175.37	654,357.81	467,817.56	1,122,175.37	
12/21/22	12/01-12/13/22	38,104.32	1,446.76	366.57	-	36,290.99	21,161.84	15,129.15	36,290.99	
01/11/23	12/14-12/31/22	87,518.64	3,167.19	843.51	-	83,507.94	48,694.77	34,813.17	83,507.94	
02/08/23	01/01-01/31/23	21,091.71	60.73	210.32		20,820.66	12,140.85	8,679.81	20,820.66	
02/27/23	interest	-	-	-	919.07	919.07	919.07	-	919.07	
03/08/23	02/01-02/28/23	10,321.80	165.46	101.55	-	10,054.79	5,863.10	4,191.69	10,054.79	
03/08/23	02/01-02/28/23	7,148.85	-	71.49	-	7,077.36	4,126.92	2,950.44	7,077.36	
04/07/23	01/01-03/31/23	23,818.52	-	238.19	-	23,580.33	13,750.06	9,830.27	23,580.33	
05/09/23	04/01-04/30/23	5,351.43	(160.54)	55.12	-	5,456.85	3,181.97	2,274.88	5,456.85	
05/15/23	interest	-	-	-	197.99	197.99	197.99	-	197.99	
06/08/23	05/01-05/31/23	13,283.31	(398.49)	136.82	-	13,544.98	7,898.29	5,646.69	13,544.98	
06/08/23	04/01-05/31/23	723.44	-	7.24	-	716.20	417.63	298.57	716.20	
06/23/23	certificate sale	25,050.81	(1,127.28)	261.77	-	25,916.32	15,112.21	10,804.11	25,916.32	
	TOTAL	$  1,606,794.12	$	58,231.54	$	15,485.62	$	1,117.06	$  1,534,194.02	$	895,077.95	$	639,116.07	$  1,534,194.02	

Page 8