Cutler Cay
Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

I

FINAL BUDGET

II

FINAL MAINTENANCE BUDGET

III

DETAILED FINAL BUDGET

IV

DETAILED FINAL MAINTENANCE BUDGET

V

DETAILED FINAL DEBT SERVICE FUND BUDGET

VII

ASSESSMENT COMPARISON

FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

I

REVENUES

FISCAL YEAR 2025/2026
BUDGET

Administrative Assessments

119,701

Maintenance Assessments

720,106

Debt Assessments - 2014 Refunding

773,141

Loan Assessments - Restoration Project

0

Other Revenues

0

Interest Income

2,400

Total Revenues

$	1,615,348

ADMINISTRATIVE EXPENDITURES

Supervisor Fees

7,000

Payroll Taxes (Employer)

560

Management

34,308

Secretarial

4,200

Legal

25,000

Legal - Extraordinary

0

Assessment Roll

7,500

Audit Fees

3,600

Arbitrage Rebate Fee

0

Insurance

15,000

Legal Advertisements

5,000

Miscellaneous

4,250

Postage

1,000

Office Supplies

1,375

Dues & Subscriptions

175

Trustee Fee

4,200

Continuing Disclosure Fee

350

Website Management

2,000

TOTAL ADMINISTRATIVE EXPENDITURES

$	115,518

TOTAL MAINTENANCE EXPENDITURES

$	680,500

TOTAL EXPENDITURES

$	796,018

REVENUES LESS EXPENDITURES

$	819,330

2021 Bond Refinancing Payments

(726,753)

Balance

$	92,577

County Appraiser & Tax Collector Fee

(30,859)

Discounts For Early Payments

(61,718)

Excess/ (Shortfall)

$	-

Carryover from Prior Year

0

Net Excess/ (Shortfall)

$	-

FINAL MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

II

MAINTENANCE EXPENDITURES

FISCAL YEAR 2025/2026
BUDGET

Contingency/Reserve

60,000

Lakes Maintenance

10,000

Roads Maintenance/Reserve

90,000

Stormwater Drainage Maintenance

58,000

Stormwater Drainage Repairs Project (Phase II)

175,000

Contingency Item For DERM's Drainage Requests

0

Field Operations

12,000

Traffic Enforcement

10,000

Water Features Maintenance (Southern Entrance/Exit)

35,000

Sidewalk Maintenance/Repairs

18,000

Engineering/Inspections

50,000

Street Signage

5,000

Lake Fountain Maintenance

10,000

Entry Features Maintenance/Reserve

7,000

Guardhouse Exterior Maintenance/Reserve

8,000

Water & Sewage

2,500

FPL - Electrical Utility

115,000

Retention Wall

0

Perimeter Wall (Off Old Cutler Road)

15,000

Shoreline Restoration & Improvements Project

0

TOTAL MAINTENANCE EXPENDITURES

$	680,500

DETAILED FINAL BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

III

REVENUES

FISCAL YEAR 2023/2024 ACTUAL

FISCAL YEAR 2024/2025 BUDGET

FISCAL YEAR 2025/2026 BUDGET

COMMENTS

Administrative Assessments

109,279

111,781

119,701

Expenditures Less Interest & Carryover/.94

Maintenance Assessments

742,571

721,164

720,106

Expenditures/.94

Debt Assessments - 2014 Refunding

773,141

773,141

773,141

Payment To Trustee/.94

Loan Assessments - Restoration Project

149,389

0

0

Loan Did Not Occur

Other Revenues

0

0

0

Interest Income

71,510

1,200

2,400

Interest Estimated At $200 Per Month

Total Revenues

$	1,845,890

$	1,607,286

$	1,615,348

ADMINISTRATIVE EXPENDITURES

Supervisor Fees

5,400

7,000

7,000

Supervisor Fees

Payroll Taxes (Employer)

413

560

560

Projected At 8% Of Supervisor Fees

Management

32,388

33,348

34,308

CPI Adjustment

Secretarial

4,200

4,200

4,200

No Change From 2024/2025 Budget

Legal

28,610

20,000

25,000

FY 24/25 Through January 2025 Was $6,800

Legal - Extraordinary

19,049

0

0

Assessment Roll

7,500

7,500

7,500

As Per Contract

Audit Fees

3,500

3,500

3,600

Accepted Amount For 2024/2025 Audit

Arbitrage Rebate Fee

0

650

0

Report No Longer Required

Insurance

13,272

15,000

15,000

Insurance Estimate - FY 24/25 Expenditure Was $13,931

Legal Advertisements

12,030

2,500

5,000

Costs Have Increased Due To Closing Of The Miami Business Review

Miscellaneous

4,373

3,750

4,250

$500 Increase From 2024/2025 Budget

Postage

1,696

700

1,000

$300 Increase From 2024/2025 Budget

Office Supplies

1,247

1,400

1,375

$25 Decrease From 2024/2025 Budget

Dues & Subscriptions

175

175

175

No Change From 2024/2025 Budget

Trustee Fee

4,139

4,200

4,200

No Change From 2024/2025 Budget

Continuing Disclosure Fee

350

350

350

No Change From 2024/2025 Budget

Website Management

2,000

2,000

2,000

No Change From 2024/2025 Budget

TOTAL ADMINISTRATIVE EXPENDITURES

$	140,342

$	106,833

$	115,518

TOTAL MAINTENANCE EXPENDITURES

$	562,706

$	681,500

$	680,500

TOTAL EXPENDITURES

$	703,048

$	788,333

$	796,018

REVENUES LESS EXPENDITURES

$	1,142,842

$	818,953

$	819,330

2021 Bond Refinancing Payments

(739,187)

(726,753)

(726,753)

2026 Principal & Interest Payments

Balance

$	403,655

$	92,200

$	92,577

County Appraiser & Tax Collector Fee

(16,334)

(30,733)

(30,859)

Two Percent Of Total Assessment Roll

Discounts For Early Payments

(61,322)

(61,467)

(61,718)

Four Percent Of Total Assessment Roll

Excess/ (Shortfall)

$	325,999

$	-

$	-

Carryover from Prior Year

0

0

0

Carryover From Prior Year

Net Excess/ (Shortfall)

$	325,999

$	-

$	-

DETAILED FINAL MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

IV

MAINTENANCE EXPENDITURES

FISCAL YEAR 2023/2024 ACTUAL

FISCAL YEAR 2024/2025 BUDGET

FISCAL YEAR 2025/2026 BUDGET

COMMENTS

Contingency/Reserve

1,233

200,000

60,000

$140,000 Decrease From 2024/2025 Budget

Lakes Maintenance

7,878

12,000

10,000

$2,000 Decrease From 2024/2025 Budget

Roads Maintenance/Reserve

3,900

50,000

90,000

Increased-Nine Years Remaining For Sinking Fund Recommended By Engineer

Stormwater Drainage Maintenance

15,490

40,000

58,000

Four Year Sinking Fund Recommended By Engineer-Plus Maintenance & Cleaning

Stormwater Drainage Repairs Project (Phase II)

61,988

0

175,000

Projected Costs

Contingency Item For DERM's Drainage Requests

0

120,000

0

Line Item Eliminated

Field Operations

12,000

12,000

12,000

$1,000 Per Month

Traffic Enforcement

0

0

10,000

Miami-Dade Police Department

Water Features Maintenance (Southern Entrance/Exit)

25,343

30,000

35,000

$5,000 Increase From 2024/2025 Budget

Sidewalk Maintenance/Repairs

17,864

15,000

18,000

$3,000 Increase From 2024/2025 Budget

Engineering/Inspections

45,886

45,000

50,000

Developer Advance Liability Entry - 2023/2024

Street Signage

0

5,000

5,000

No Change From 2024/2025 Budget

Lake Fountain Maintenance

150

15,000

10,000

$5,000 Decrease From 2024/2025 Budget

Entry Features Maintenance/Reserve

5,405

15,000

7,000

$8,000 Decrease From 2024/2025 Budget

Guardhouse Exterior Maintenance/Reserve

850

10,000

8,000

$2,000 Decrease From 2024/2025 Budget

Water & Sewage

120

2,500

2,500

No Change From 2024/2025 Budget

FPL - Electrical Utility

110,671

110,000

115,000

$5,000 Increase From 2024/2025 Budget

Retention Wall

0

0

0

Deferred To Fiscal Year 2026/2027 Budget

Perimeter Wall (Off Old Cutler Road)

0

0

15,000

New Line-Item Separated From Water Feature

Shoreline Restoration & Improvements Project

253,928

0

0

May Be Needed In Fiscal Year 2026/2027

TOTAL MAINTENANCE EXPENDITURES

$	562,706

$	681,500

$	680,500

DETAILED FINAL DEBT SERVICE FUND BUDGET CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

Series 2021 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$8,125,000 2.14%
March 2021
May 2034

Annual Principal Payments Due =
Annual Interest Payments Due =

May 1st
May 1st & November 1st

Par Amount As Of 1/1/25 =

$6,420,000

V

REVENUES

FISCAL YEAR 2023/2024
ACTUAL

FISCAL YEAR 2024/2025
BUDGET

FISCAL YEAR 2025/2026
BUDGET

COMMENTS

Interest Income

15,329

500

1,200

Projected Interest For 2025/2026

NAV Tax Collection

739,187

726,753

726,753

Maximum Debt Service Collection

Total Revenues

$	754,516

$	727,253

$	727,953

EXPENDITURES

Principal Payments

580,000

595,000

605,000

Principal Payment Due In 2026

Interest Payments

149,800

131,022

118,182

Interest Payments Due In 2026

Bond Redemption

0

1,231

4,771

Estimated Excess Debt Collections

Total Expenditures

$	729,800

$	727,253

$	727,953

Excess/ (Shortfall)

$	24,716

$	-

$	-

Cutler Cay Community Development District Assessment Comparison

Fiscal Year 2022/2023
Assessment Before Discount*

Fiscal Year 2023/2024
Assessment Before Discount*

Fiscal Year 2024/2025
Assessment Before Discount*

Fiscal Year 2025/2026
Projected Assessment Before Discount*

Lot Size

60

Administrative Maintenance - Operating Restoration Project Loan
Debt - 2004 Bond/2014 Refunding/2021 Refunding
Sub-Total For Lot Size 60

$
$
$

195.83
1,772.54
-

$
$
$

202.10
1,470.45
295.82

$
$
$

221.35
1,428.05
-

$
$
$

237.04
1,425.96
-

$	1,472.84

$	1,472.84

$	1,472.84

$	1,472.84

$

3,441.21

$

3,441.21

$

3,122.24

$

3,135.84

75

Administrative Maintenance - Operating Restoration Project Loan
Debt - 2004 Bond/2014 Refunding/2021 Refunding
Sub-Total For Lot Size 75

$
$
$

195.83
1,772.54
-

$
$
$

202.10
1,470.45
295.82

$
$
$

221.35
1,428.05
-

$
$
$

237.04
1,425.96
-

$	1,532.45

$	1,532.45

$	1,532.45

$	1,532.45

$

3,500.82

$

3,500.82

$

3,181.85

$

3,195.45

125

Administrative Maintenance - Operating Restoration Project Loan
Debt - 2004 Bond/2014 Refunding/2021 Refunding
Sub-Total For Lot Size 125

$
$

195.83
1,772.54

$
$

202.10
1,470.45

$
$

221.35
1,428.05

$
$

237.04
1,425.96

$

-

$

295.82

$

-

$

-

$	1,704.37

$	1,704.37

$	1,704.37

$	1,704.37

$

3,672.74

$

3,672.74

$

3,353.77

$

3,367.37

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	

Sixty Foot Lots Seventy Five Foot Lots
One Hundred Twenty Five Foot Lots Total Units

180
258
67
505

 Seventy Five Foot Lots Information	

Total Units Prepayments Billed For Debt

258
1
257

VI