Mirada
Community Development District

Proposed Budget
Fiscal Year 2025

Table of Contents

1

2-3

4

5

	General Fund

	Budget Narrative

	Debt Service Fund Series 2016

	Series 2016 Amortization Schedule

6		Assessments Schedule

Mirada
Community Development District
Proposed Budget General Fund

Adopted Budget Fiscal Year
2024

Actuals Through
1/31/24

Projected Next

Description

8 Months

Projected Through
9/30/24

Proposed Budget Fiscal Year
2025

REVENUES:		
Special Assessments - Tax Roll	$	67,534	$	66,633	$	902	$	67,534	$	67,534	
Interest Income	385	74	272	346	385	
TOTAL REVENUES	$	67,919	$	66,706	$	1,174	$	67,880	$	67,919	
EXPENDITURES:						
General & Administrative:						
Engineering	$	7,500	$	1,369	$	5,000	$	6,369	$	6,500	
Attorney	7,000	2,205	6,615	8,820	8,500	
Dissemination Agent	2,500	833	1,667	2,500	2,500	
Annual Audit	4,400	-	4,400	4,400	4,500	
Assessment Roll Administration	-	2,099	-	2,099	2,099	
Trustee Fees	3,500	-	3,500	3,500	3,500	
Management Fees	24,040	8,013	16,027	24,040	24,761	
Website Maintenance	2,015	672	1,343	2,015	2,015	
Telephone	50	-	-	-	-	
Postage and Delivery	150	11	100	111	150	
Insurance General Liability	7,389	6,986	-	6,986	7,685	
Printing and Binding	700	59	467	525	700	
Legal Advertising	2,400	-	1,600	1,600	2,000	
Other Current Charges	1,000	153	667	819	1,000	
Office Supplies	100	0	67	67	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
1st Quarter Operating / Contingency	5,000	-	-	-	1,734	
TOTAL GENERAL & ADMINISTRATIVE:	$	67,919	$	22,574	$	41,452	$	64,026	$	67,919	
						
TOTAL EXPENDITURES	$	67,919	$	22,574	$	41,452	$	64,026	$	67,919	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	44,132	$	(40,278)	$	3,854	$	-	

Mirada
Community Development District
Budget Narrative Fiscal Year 2025

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

Expenditures - General & Administrative

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.
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 unrated bond issues.
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 an 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.
Trustee Fees
The District bonds will be held and administered by a trustee. This represents the trustee annual fee.
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.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the District 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 and 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.

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 fiscal year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.

Mirada
Community Development District
Budget Narrative Fiscal Year 2025

Expenditures - General & Administrative (Continued)

Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity community affairs for $175.
1st Quarter Operating/Contingency
These funds are the first quarter of the following fiscal year of expenses the District will incur before assessments are collected and/or unscheduled expenditures incurred throughout the year, as applicable.

Mirada
Community Development District
Proposed Budget
Debt Service Series 2016 Special Assessment Bonds

Adopted Budget Fiscal Year
2024

Actuals Through
1/31/24

Projected Next

Description

8 Months

Projected Through
9/30/24

Proposed Budget Fiscal Year
2025

REVENUES:		
Special Assessments - On Roll	$	129,850	$	128,116	$	1,734	$	129,850	$	129,850	
Interest Income	-	2,185	1,639	3,824	-	
Carry Forward Surplus (1)	72,744	-	-	75,175	78,634	
TOTAL REVENUES	$	202,594	$	130,301	$	3,373	$	208,849	$	208,484	

EXPENDITURES:						
Interest - 11/1	$	43,108	$	43,108	$	-	$	43,108	$	42,145	
Interest - 5/1	43,108	-	43,108	43,108	42,145	
Principal - 5/1	44,000	-	44,000	44,000	46,000	
TOTAL EXPENDITURES	$	130,215	$	43,108	$	87,108	$	130,215	$	130,290	
						
EXCESS REVENUES (EXPENDITURES)	$	72,379	$	87,194	$	(83,735)	$	78,634	$	78,194	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$41,138.75

$41,138.75

Mirada
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2016 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

11/01/24	$1,741,000	4.375%	-	$42,145.00	
05/01/25	1,741,000	4.375%	46,000	42,145.00	
11/01/25	1,695,000	4.375%	-	41,138.75	
05/01/26	1,695,000	4.375%	48,000	41,138.75	
11/01/26	1,647,000	4.375%	-	40,088.75	
05/01/27	1,647,000	4.375%	50,000	40,088.75	
11/01/27	1,597,000	4.750%	-	38,995.00	
05/01/28	1,597,000	4.750%	53,000	38,995.00	
11/01/28	1,544,000	4.750%	-	37,736.25	
05/01/29	1,544,000	4.750%	55,000	37,736.25	
11/01/29	1,489,000	4.750%	-	36,430.00	
05/01/30	1,489,000	4.750%	58,000	36,430.00	
11/01/30	1,431,000	4.750%	-	35,052.50	
05/01/31	1,431,000	4.750%	61,000	35,052.50	
11/01/31	1,370,000	4.750%	-	33,603.75	
05/01/32	1,370,000	4.750%	64,000	33,603.75	
11/01/32	1,306,000	4.750%	-	32,083.75	
05/01/33	1,306,000	4.750%	67,000	32,083.75	
11/01/33	1,239,000	4.750%	-	30,492.50	
05/01/34	1,239,000	4.750%	70,000	30,492.50	
11/01/34	1,169,000	4.750%	-	28,830.00	
05/01/35	1,169,000	4.750%	73,000	28,830.00	
11/01/35	1,096,000	4.750%	-	27,096.25	
05/01/36	1,096,000	4.750%	77,000	27,096.25	
11/01/36	1,019,000	4.750%	-	25,267.50	
05/01/37	1,019,000	4.750%	81,000	25,267.50	
11/01/37	938,000	4.750%	-	23,343.75	
05/01/38	938,000	4.750%	85,000	23,343.75	
11/01/38	853,000	5.000%	-	21,325.00	
05/01/39	853,000	5.000%	89,000	21,325.00	
11/01/39	764,000	5.000%	-	19,100.00	
05/01/40	764,000	5.000%	94,000	19,100.00	
11/01/40	670,000	5.000%	-	16,750.00	
05/01/41	670,000	5.000%	98,000	16,750.00	
11/01/41	572,000	5.000%	-	14,300.00	
05/01/42	572,000	5.000%	103,000	14,300.00	
11/01/42	469,000	5.000%	-	11,725.00	
05/01/43	469,000	5.000%	109,000	11,725.00	
11/01/43	360,000	5.000%	-	9,000.00	
05/01/44	360,000	5.000%	114,000	9,000.00	
11/01/44	246,000	5.000%	-	6,150.00	
05/01/45	246,000	5.000%	120,000	6,150.00	
11/01/45	126,000	5.000%	-	3,150.00	
05/01/46	126,000	5.000%	126,000	3,150.00	
Total			$1,741,000	$1,147,608	

Mirada
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Product	O&M Units	Bonds Units
2006A	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
Fiscal Year 2025	
Fiscal Year 2024	Increase/ (decrease)	
Fiscal Year 2025	
Fiscal Year 2024	Increase/ (decrease)	
Fiscal Year 2025	
Fiscal Year 2024	Increase/ (decrease)	

Single Family	

136	

136	

$528.27	

$528.27	

$0.00	

$1,015.72	

$1,015.72	

$0.00	

$1,543.99	

$1,543.99	

$0.00	
Total Assessment Units	136	136