Bellagio	
Community Development District	

Approved Proposed Budget	
FY 2025	

Table of Contents

1-2

3-5

6-7

8-9

	General Fund

	Narratives

	Debt Service Fund Series 2013

	Debt Service Fund Series 2016

10		Assessment Schedule

Bellagio	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed
Budget	
Description	FY2024	1/31/24	8 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$483,346	$426,910	$59,741	$486,651	$483,346	
Interest income	6,000	7,327	13,626	20,953	10,000	
Carry Forward Surplus	-	25,857	-	25,857	25,857	
TOTAL REVENUES	$489,346	$460,094	$73,367	$533,461	$519,203	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$5,000	$1,000	$4,000	$5,000	$5,000	
FICA Taxes	383	77	306	383	383	
Engineering	5,000	-	5,000	5,000	5,000	
Attorney	15,000	2,763	12,238	15,000	15,000	
Annual Audit	4,700	3,400	1,300	4,700	4,700	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Arbitrage Rebate	650	-	650	650	650	
Dissemination Agent	2,000	667	1,333	2,000	2,070	
Trustee Fees	7,000	3,500	3,500	7,000	7,000	
Management Fees	34,067	11,356	22,711	34,067	35,259	
Information Technology	500	167	333	500	525	
Website Maintenance	1,200	400	800	1,200	1,242	
Telephone	105	-	105	105	105	
Postage & Delivery	750	33	717	750	750	
Insurance General Liability	7,958	7,162	-	7,162	8,236	
Printing & Binding	1,500	-	1,500	1,500	1,500	
Legal Advertising	2,000	-	2,000	2,000	2,000	
Other Current Charges	650	-	650	650	650	
Office Supplies	150	-	150	150	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$90,788	$32,698	$57,293	$89,992	$92,395	

Bellagio	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed
Budget	
Description	FY2024	1/31/24	8 Months	9/30/24	FY 2025	

Operations & Maintenance

Clubhouse Expenditures						
Management Fees - Front Desk & Director	$122,500	$44,440	$92,758	$137,198	$138,637	
Pool Attendants	10,000	-	10,000	10,000	10,000	
Access Control	2,000	-	2,000	2,000	2,000	
Cable/Internet Services	6,600	2,233	4,672	6,905	6,600	
Utilities - Electric	28,600	10,329	21,600	31,929	28,600	
Utilities - Water	7,200	461	4,539	5,000	7,200	
Copier Lease	2,000	328	1,672	2,000	2,000	
Property Insurance	41,757	40,810	-	40,810	48,972	
Repairs & Maintenance	52,578	-	43,444	43,444	52,582	
Pool & Spa Maintenance	23,100	8,100	16,200	24,300	24,300	
Pool & Spa Repairs	2,400	6,480	5,000	11,480	2,400	
Pool & Spa Permit	600	-	600	600	600	
Landscape Maintenance	10,890	3,300	6,600	9,900	9,900	
Landscape Replacement	6,000	-	6,000	6,000	6,000	
Replacements annuals	10,000	-	10,000	10,000	10,000	
Janitorial Services	28,756	11,057	23,096	34,153	34,644	
Janitorial Supplies	3,600	-	3,600	3,600	3,600	
Fitness Equipment Maintenance	690	530	160	690	690	
Fitness Equipment Repair/Replacements	5,000	-	5,000	5,000	5,000	
Pest Control	1,200	-	1,200	1,200	1,200	
Contingencies	7,568	4,169	3,399	7,568	7,568	
Refuse Service	3,855	1,868	4,210	6,078	6,315	
Special Events	3,000	-	3,000	3,000	3,000	
Office/Clubhouse Supplies	10,000	3,910	6,090	10,000	10,000	
Alarm Monitoring	1,500	-	1,500	1,500	1,500	
Air Conditioning Maintenance	7,164	257	3,000	3,257	3,500	
TOTAL AMENITY EXPENDITURES	$398,558	$138,272	$279,341	$417,613	$426,808	

TOTAL EXPENDITURES	$489,346	$170,970	$336,634	$507,604	$519,203	

EXCESS REVENUES (EXPENDITURES)	$-	$289,124	$(263,267)	$25,857	$-	

Bellagio	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax 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 operating accounts.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 6	
FICA Taxes	
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
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.	
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 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.	
Arbitrage Rebate	
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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 un-rated bond issues.	
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.	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.	
Website Maintenance	
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.	

Bellagio	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
Communication - Telephone	
New internet and Wi-Fi service for Office.	
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 & 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 year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.	
Expenditures – Clubhouse (continued)	
Management Fees - Front Desk & Director	
The District is currently contracted with Miami Management, Inc. for the onsite management of the Clubhouse. The current contract is being revised by the board and includes the following responsibilities	
Clubhouse Attendant	
On Site Manager	
Health insurance and cell phone	
Pool Attendands	
Pool attendants in summer season.	
Access Control	
This represents the cost of Key Fobs for the residents to gain access to the clubhouse.	
Internet/Cable Services	
The District is contracted with Comcast to provide service to the Clubhouse.	
Utilities - Electric	
The District currently has an account with Florida Powers & Light for electric service at 8700 W 35 Court.	
Utilities - Water	
The District currently has an account with The City of Hialeah for water service at 8700 W 35 Court.	
Copier Lease	
This represents costs for a copier lease.	
Property Insurance	
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.	
Repairs & Maintenance	
Represents routine repairs to the Clubhouse.	

Bellagio	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Clubhouse (continued)	
Pool & Spa Maintenanc	
The District is contracted with a pool service company. for the maintenance of the clubhouse pool. The monthly contract is $1,800 or $21,600 annually.	
Pool & Spa Repairs	
This represents cost for repairs of the pool and the spa.	
Landscape Maintenance	
The District has a contract with a landscpe company for monthly services.	
Landscape Replacement	
This represents costs for any mulch and sod replacements.	
Replacements Annuals	
This represents replacements of annuals throughout the district.	
Janitorial Services	
Janitorial services are contracted by Miami Management, Inc. as mentioned in Management Fees above.	
Janitorial Supplies	
This represents any cleaning supplies.	
Fitness Equipment Maintenance	
The District is contracted with The Fitness Solution for the regular maintenance of the fitness equipment, and repairs as needed.	
Fitness Eqipment Repair/Replacement	
The District is contracted with The Fitness Solution for repairs as needed.	
Pest Control	
The district will contract a company for pest control services.	
Property Tax	
Represents 8700 W 35 CT address property tax.	
Contingency	
Represents any expenditures not mentioned above during the Fiscal Year.	
Refuse Service	
The District is contracted with Great Waste & Recycling for refuse removal.	
Speical Events	
Represents the cost of any social events at the clubhouse.	
Office/Clubhouse Supplies	
Miscellaneous supplies as needed	
Alarm Monitoring	
The District has a contract for fire alarm monitoring.	
Air Conditioning Maintenance	
The district will contract a company to repair and maintain the A/C of the clubhouse	

Bellagio	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2013 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed
Budget	
Description	FY2024	1/31/24	8 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$662,207	$582,882	$81,568	$664,450	$662,207	
Interest Earnings	-	13,357	10,000	23,357	10,000	
Carry Forward Surplus (1)	548,604	551,380	-	551,380	585,711	

TOTAL REVENUES	$1,210,810	$1,147,618	$91,568	$1,239,186	$1,257,918	

EXPENDITURES:

Interest 11/1	$239,438	$239,438	$-	$239,438	$234,038	
Principal - 11/1	180,000	180,000	-	180,000	190,000	
Interest - 5/1	234,038	-	234,038	234,038	228,338	

TOTAL EXPENDITURES	$653,475	$419,438	$234,038	$653,475	$652,375	

EXCESS REVENUES (EXPENDITURES)	$557,335	$728,181	$(142,470)	$585,711	$605,543	

Interest Due 11/1/25	$228,338	
Principal Due 5/1/26		$200,000 	
		$428,338 	

(1) Carry Forward is Net of Reserve Requirement

Bellagio	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2013, Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	7,265,000	6.000%	190,000	$234,038	$424,038	
05/01/25	7,075,000	6.000%	-	$228,338		
11/01/25	7,075,000	6.000%	200,000	$228,338	$656,675	
05/01/26	6,875,000	6.000%	-	$222,338		
11/01/26	6,875,000	6.000%	215,000	$222,338	$659,675	
05/01/27	6,660,000	6.000%	-	$215,888		
11/01/27	6,660,000	6.000%	225,000	$215,888	$656,775	
05/01/28	6,435,000	6.500%	-	$209,138		
11/01/28	6,435,000	6.500%	240,000	$209,138	$658,275	
05/01/29	6,195,000	6.500%	-	$201,338		
11/01/29	6,195,000	6.500%	255,000	$201,338	$657,675	
05/01/30	5,940,000	6.500%	-	$193,050		
11/01/30	5,940,000	6.500%	275,000	$193,050	$661,100	
05/01/31	5,665,000	6.500%	-	$184,113		
11/01/31	5,665,000	6.500%	290,000	$184,113	$658,225	
05/01/32	5,375,000	6.500%	-	$174,688		
11/01/32	5,375,000	6.500%	310,000	$174,688	$659,375	
05/01/33	5,065,000	6.500%	-	$164,613		
11/01/33	5,065,000	6.500%	330,000	$164,613	$659,225	
05/01/34	4,735,000	6.500%	-	$153,888		
11/01/34	4,735,000	6.500%	350,000	$153,888	$657,775	
05/01/35	4,385,000	6.500%	-	$142,513		
11/01/35	4,385,000	6.500%	375,000	$142,513	$660,025	
05/01/36	4,010,000	6.500%	-	$130,325		
11/01/36	4,010,000	6.500%	400,000	$130,325	$660,650	
05/01/37	3,610,000	6.500%	-	$117,325		
11/01/37	3,610,000	6.500%	425,000	$117,325	$659,650	
05/01/38	3,185,000	6.500%	-	$103,513		
11/01/38	3,185,000	6.500%	450,000	$103,513	$657,025	
05/01/39	2,735,000	6.500%	-	$88,888		
11/01/39	2,735,000	6.500%	480,000	$88,888	$657,775	
05/01/40	2,255,000	6.500%	-	$73,288		
11/01/40	2,255,000	6.500%	510,000	$73,288	$656,575	
05/01/41	1,745,000	6.500%	-	$56,713		
11/01/41	1,745,000	6.500%	545,000	$56,713	$658,425	
05/01/42	1,200,000	6.500%	-	$39,000		
11/01/42	1,200,000	6.500%	580,000	$39,000	$658,000	
05/01/43	620,000	6.500%	-	$20,150		
11/01/43	620,000	6.500%	620,000	$20,150	$660,300	

TOTAL	$7,265,000	$5,672,238	$12,937,238	

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

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed
Budget	
Description	FY2024	1/31/24	8 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$399,780	$353,100	$49,412	$402,512	$399,780	
Interest Earnings	-	8,441	5,000	13,441	10,000	
Carry Forward Surplus (1)	360,643	366,779	-	366,779	379,270	

TOTAL REVENUES	$760,423	$728,320	$54,412	$782,732	$789,050	

EXPENDITURES:

Interest 11/1	$117,934	$117,934	$-	$117,934	$115,528	
Principal - 11/1	160,000	160,000	-	160,000	165,000	
Special Call - 11/1	-	10,000	-	10,000	-	
Interest - 5/1	115,734	-	115,528	115,528	113,053	

TOTAL EXPENDITURES	$393,669	$287,934	$115,528	$403,463	$393,581	

EXCESS REVENUES (EXPENDITURES)	$366,754	$440,386	$(61,116)	$379,270	$395,469	

Interest Due 11/1/25	$113,053	
Principal Due 5/1/26		$170,000 	
		$283,053 	

(1) Carry Forward is Net of Reserve Requirement

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
11/01/24	5,860,000	3.000%	165,000	$115,528.13	280,528.13	
05/01/25	5,695,000	3.000%	-	$113,053.13		
11/01/25	5,695,000	3.000%	170,000	$113,053.13	396,106.25	
05/01/26	5,525,000	3.000%	-	$110,503.13		
11/01/26	5,525,000	3.125%	175,000	$110,503.13	396,006.25	
05/01/27	5,350,000	3.125%	-	$107,768.75		
11/01/27	5,350,000	3.750%	180,000	$107,768.75	395,537.50	
05/01/28	5,170,000	3.750%	-	$104,393.75		
11/01/28	5,170,000	3.750%	190,000	$104,393.75	398,787.50	
05/01/29	4,980,000	3.750%	-	$100,831.25		
11/01/29	4,980,000	3.750%	195,000	$100,831.25	396,662.50	
05/01/30	4,785,000	3.750%	-	$97,175.00		
11/01/30	4,785,000	3.750%	205,000	$97,175.00	399,350.00	
05/01/31	4,580,000	3.750%	-	$93,331.25		
11/01/31	4,580,000	3.750%	210,000	$93,331.25	396,662.50	
05/01/32	4,370,000	3.750%	-	$89,393.75		
11/01/32	4,370,000	4.000%	220,000	$89,393.75	398,787.50	
05/01/33	4,150,000	4.000%	-	$84,993.75		
11/01/33	4,150,000	4.000%	225,000	$84,993.75	394,987.50	
05/01/34	3,925,000	4.000%	-	$80,493.75		
11/01/34	3,925,000	4.000%	235,000	$80,493.75	395,987.50	
05/01/35	3,690,000	4.000%	-	$75,793.75		
11/01/35	3,690,000	4.000%	245,000	$75,793.75	396,587.50	
05/01/36	3,445,000	4.000%	-	$70,893.75		
11/01/36	3,445,000	4.000%	255,000	$70,893.75	396,787.50	
05/01/37	3,190,000	4.000%	-	$65,793.75		
11/01/37	3,190,000	4.125%	265,000	$65,793.75	396,587.50	
05/01/38	2,925,000	4.125%	-	$60,328.13		
11/01/38	2,925,000	4.125%	275,000	$60,328.13	395,656.25	
05/01/39	2,650,000	4.125%	-	$54,656.25		
11/01/39	2,650,000	4.125%	285,000	$54,656.25	394,312.50	
05/01/40	2,365,000	4.125%	-	$48,778.13		
11/01/40	2,365,000	4.125%	300,000	$48,778.13	397,556.25	
05/01/41	2,065,000	4.125%	-	$42,590.63		
11/01/41	2,065,000	4.125%	310,000	$42,590.63	395,181.25	
05/01/42	1,755,000	4.125%	-	$36,196.88		
11/01/42	1,755,000	4.125%	325,000	$36,196.88	397,393.75	
05/01/43	1,430,000	4.125%	-	$29,493.75		
11/01/43	1,430,000	4.125%	335,000	$29,493.75	393,987.50	
05/01/44	1,095,000	4.125%	-	$22,584.38		
11/01/44	1,095,000	4.125%	350,000	$22,584.38	395,168.75	
05/01/45	745,000	4.125%	-	$15,365.63		
11/01/45	745,000	4.125%	365,000	$15,365.63	395,731.25	
05/01/46	380,000	4.125%	-	$7,837.50		
11/01/46	380,000	4.125%	380,000	$7,837.50	395,675.00	

TOTAL	$5,860,000	$3,140,028	$9,000,028	

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

Neighborhood	O&M Units	Bonds
Units 2013	Bonds
Units 2016	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2025	FY 2024	Increase/ (decrease
)	FY 2025	FY 2024	Increase/ (decrease)	
FY 2025	
FY 2024	Increase/ (decrease)	
				Admin	Clubhouse	Total	Admin	Clubhouse	Total		Series 2013	Series 2016	Series 2013	Series 2016		Total	Total	Total	

Single Family	
209	
206	
207	
$168.67	
$701.05	
$869.72	
$168.67	
$701.05	
$869.72	
$0.00	
$1,269.03	
$721.82	
$1,269.03	
$721.82	
$0.00	
$2,860.57	
$2,860.57	
$0.00	
Townhomes	206	206	206	$168.67	$701.05	$869.72	$168.67	$701.05	$869.72	$0.00	$1,181.85	$721.82	$1,181.85	$721.82	$0.00	$2,773.39	$2,773.39	$0.00	
Villas	170	170	170	$168.67	$701.05	$869.72	$168.67	$701.05	$869.72	$0.00	$1,130.46	$721.82	$1,130.46	$721.82	$0.00	$2,722.00	$2,722.00	$0.00	
Total	585	582	583										

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