SILVER PALMS COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING OCTOBER 17, 2022
6:00 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.silverpalmscdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA SILVER PALMS
COMMUNITY DEVELOPMENT DISTRICT
Meeting Room at Mercedes Benz of Cutler Bay 10701 SW 211th Street
Cutler Bay, Florida 33189
REGULAR BOARD MEETING
October 17, 2022
6:00 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
September 19, 2022 Regular Board Meeting	Page 2
New Business
Consider Approval of Resolution No. 2022-05 – Authorizing and Adopting an Amended Final Fiscal Year 2021/2022 Budget and Providing an Effective Date.	Page 3
Old Business
Administrative Matters
Financial Update	Page 8
Additional Board Member/Staff Comments
Adjourn

10/7/22, 8:00 AM	Public Notices | Florida Press Association

Miami-Dade County,

Notice Text

Miscellaneous Notices
Published in Miami Daily Business Review on October 7, 2022

Location

SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT
AND FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Silver Palms Community Development District will hold Regular Meetings for the Fiscal Year 2022/2023 at 6:00 p.m. in a Meeting Room at Mercedes Benz of Cutler Bay located at 10701 SW 211th Street, Cutler Bay, Florida 33189, on the following dates:
October 17, 2022
January 16, 2023
April 17, 2023
June 19, 2023
September 18, 2023
The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District's website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1- 877-737-4922 five (5) days prior to the date of the particular meeting.
From time to time one or two Supervisors may participate by telephone; therefore, at the location of these meetings there will be a speaker telephone present so that interested persons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communication. Meetings may be continued as found necessary to the time and place specified on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time without advertised notice. SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT
www.silverpalmscdd.org 10/7 22-75/0000623303M

https://www.floridapublicnotices.com

Page 1

1/1

SEPTEMBER 19, 2022 REGULAR BOARD MEETING MINUTES

TO BE DISTRIBUTED UNDER SEPARATE COVER

RESOLUTION NO. 2022-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2021/2022 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Silver Palms Community Development District (“District”) is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the District has prepared for consideration and approval an Amended Budget.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.  The Amended Budget for Fiscal Year 2021/2022 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.  The Secretary/Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 17th day of October, 2022.

ATTEST:	SILVER PALMS
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Silver Palms Community Development District

Amended Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Administrative Assessments	61,664	61,742	61,742	
Maintenance Assessments	38,646	38,646	38,646	
Debt Assessments	122,447	122,447	122,447	
Interest Income	180	240	235	
				
TOTAL REVENUES	$	222,937	$	223,075	$	223,070	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	4,000	4,000	
Payroll Taxes (Employer)	480	306	306	
Management	19,164	19,164	19,164	
Secretarial	2,700	2,700	2,700	
Legal	8,000	8,000	6,723	
Assessment Roll	3,500	3,500	3,500	
Audit Fees	3,700	3,800	3,700	
Insurance	6,000	5,706	5,706	
Legal Advertisements	550	550	361	
Miscellaneous	1,000	800	591	
Postage	250	190	183	
Office Supplies	525	325	294	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,100	4,080	4,080	
Continuing Disclosure Fee	250	250	250	
Website Management	1,750	1,750	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	58,144	$	55,296	$	53,483	
				
MAINTENANCE EXPENDITURES				
Lawn Maintenance/Landscaping	22,000	25,000	23,825	
Aquatic Maintenance	2,000	2,100	1,835	
Maintenance/District Improvements	4,205	2,000	0	
Engineering/Inspections	1,900	7,400	5,455	
Contingency/Reserve	6,223	2,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,328	$	38,500	$	31,115	
				
TOTAL EXPENDITURES	$	94,472	$	93,796	$	84,598	
				
REVENUES LESS EXPENDITURES	$	128,465	$	129,279	$	138,472	
				
Bond Payments	(115,100)	(116,593)	(116,593)	
				
BALANCE	$	13,365	$	12,686	$	21,879	
				
County Appraiser & Tax Collector Fee	(4,455)	(2,143)	(2,143)	
Discounts For Early Payments	(8,910)	(8,508)	(8,508)	
				
EXCESS/ (SHORTFALL)	$	-	$	2,035	$	11,228	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	2,035	$	11,228	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$189,358	
$2,035	
$191,393	

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	6	5	
NAV Tax Collection	115,100	116,593	116,593	
Total Revenues	$	115,125	$	116,599	$	116,598	
				
EXPENDITURES				
Principal Payments	75,000	75,000	75,000	
Interest Payments	36,319	37,538	37,538	
Bond Redemption	3,806	0	0	
Total Expenditures	$	115,125	$	112,538	$	112,538	
				
Excess/ (Shortfall)	$	-	$	4,061	$	4,060	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$101,895	
$4,061	
$105,956	

Notes
Reserve Fund Balance = $58,058*. Revenue Fund Balance = $47,898*.
Revenue Fund Balance To Be Used To Make 11/1/2022 Interest Payment Of $17,550.
* Approximate Amounts

Series 2014 Bond Refunding Information		
Original Par Amount =	$1,660,000	Annual Principal Payments Due:	
Interest Rate =	3.25% - 8.25%	May 1st	
Issue Date =	April 2014	Annual Interest Payments Due:	
Maturity Date =	May 2034	May 1st & November 1st	
Par Amount As Of 9/30/22=	$1,080,000		

Silver Palms Community Development District

Financial Report For September 2022

Silver Palms Community Development District
Budget vs. Actual
October 2021 through September 2022

Oct 21 - Sept 22	21/22 Budget	$ Over Budget	% of Budget
 			
Income

363.100 ꞏ Admin Assessments	61,742.13		61,664.00		78.13		100.13%	
363.101 ꞏ Maintenance Assessments	38,646.35		38,646.00		0.35		100.0%	
363.810 ꞏ Debt Assessment	122,447.40		122,447.00		0.40		100.0%	
363.820 ꞏ Debt Assessment-Paid To Trustee	-116,593.05		-115,100.00		-1,493.05		101.3%	
363.830 ꞏ County Tax Collector Fee	-2,143.16		-4,455.00		2,311.84		48.11%	
363.831 ꞏ Discounts for Early Payments	-8,508.27		-8,910.00		401.73		95.49%	
369.401 ꞏ Interest Income	234.60		180.00		54.60		130.33%	
Total Income	95,826.00		94,472.00		1,354.00		101.43%	
Expense								
511.122 ꞏ Payroll Tax Expense	306.00		480.00		-174.00		63.75%	
511.131 ꞏ Supervisors Fees	4,000.00		6,000.00		-2,000.00		66.67%	
511.306 ꞏ Lawn Maint/Landscaping	23,825.00		22,000.00		1,825.00		108.3%	
511.307 ꞏ Aquatic Maintenance	1,835.24		2,000.00		-164.76		91.76%	
511.308 ꞏ Maint/District Improvements	0.00		4,205.00		-4,205.00		0.0%	
511.309 ꞏ Contingency/Reserve	0.00		6,223.00		-6,223.00		0.0%	
511.310 ꞏ Engineering	5,455.00		1,900.00		3,555.00		287.11%	
511.311 ꞏ Management Fees	19,164.00		19,164.00		0.00		100.0%	
511.312 ꞏ Secretarial Fees	2,700.00		2,700.00		0.00		100.0%	
511.315 ꞏ Legal Fees	6,723.50		8,000.00		-1,276.50		84.04%	
511.318 ꞏ Assessment/Tax Roll	3,500.00		3,500.00		0.00		100.0%	
511.320 ꞏ Audit Fees	3,700.00		3,700.00		0.00		100.0%	
511.450 ꞏ Insurance	5,706.00		6,000.00		-294.00		95.1%	
511.480 ꞏ Legal Advertisements	360.65		550.00		-189.35		65.57%	
511.512 ꞏ Miscellaneous	590.81		1,000.00		-409.19		59.08%	
511.513 ꞏ Postage and Delivery	183.06		250.00		-66.94		73.22%	
511.514 ꞏ Office Supplies	294.25		525.00		-230.75		56.05%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	4,079.63		4,100.00		-20.37		99.5%	
511.734 ꞏ Continuing Disclosure Fee	250.00		250.00		0.00		100.0%	
511.750 ꞏ Website Management	1,749.96		1,750.00		-0.04		100.0%	
Total Expense	84,598.10		94,472.00		-9,873.90		89.55%	
Net Income		11,227.90			0.00			11,227.90			100.0%	

`	SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
SEPTEMBER 2022

REVENUES	
Annual Budget
10/1/21 - 9/30/22	
Actual Sep-22	Year To Date Actual
10/1/21 - 9/30/22	
Administrative Assessments	61,664	0	61,742	
Maintenance Assessments	38,646	0	38,646	
Debt Assessments	122,447	0	122,447	
Interest Income	180	0	235	
				
Total Revenues	$	222,937	$	-	$	223,070	
				
EXPENDITURES				
Maintenance Expenditures				
Lawn Maintenance/Landscaping	22,000	1,370	23,825	
Aquatic Maintenance	2,000	0	1,835	
Maintenance/District Improvements	4,205	0	0	
Engineering/Inspections	1,900	0	5,455	
Contingency/Reserve	6,223	0	0	
Total Maintenance Expenditures	$	36,328	$	1,370	$	31,115	
				
Adminstrative Expenditures				
Supervisor Fees	6,000	1,000	4,000	
Payroll Taxes (Employer)	480	77	306	
Management	19,164	1,597	19,164	
Secretarial	2,700	225	2,700	
Legal	8,000	0	6,723	
Assessment Roll	3,500	3,500	3,500	
Audit Fees	3,700	0	3,700	
Insurance	6,000	0	5,706	
Legal Advertisements	550	0	361	
Miscellaneous	1,000	92	591	
Postage	250	20	183	
Office Supplies	525	7	294	
Dues & Subscriptions	175	0	175	
Trustee Fee	4,100	0	4,080	
Continuing Disclosure Fee	250	250	250	
Website Management	1,750	145	1,750	
Total Administrative Expenditures	$	58,144	$	6,913	$	53,483	
				
Total Expenditures	$	94,472	$	8,283	$	84,598	
				
Revenues Less Expenditures	$	128,465	$	(8,283)	$	138,472	
				
Bond Payments	(115,100)	0	(116,593)	
				
Balance	$	13,365	$	(8,283)	$	21,879	
				
County Appraiser & Tax Collector Fee	(4,455)	0	(2,143)	
Discounts For Early Payments	(8,910)	0	(8,508)	
				
Excess/ (Shortfall)	$	-	$	(8,283)	$	11,228	
				
Carryover From Prior Year	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(8,283)	$	11,228	

Bank Balance As Of 9/30/22	$	211,029.94	
Accounts Payable As Of 9/30/22	$	10,443.35	
Accounts Receivable As Of 9/30/22	$	-	
Available Funds As Of 9/30/22	$	200,586.59	

SILVER PALMS CDD TAX COLLECTIONS 2021-2022

#	

ID#	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Commissions Paid	

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	
									$222,757.00	$61,664.00	$38,646.00	$  122,447.00	$61,664.00	$38,646.00	$  122,447.00		
									$209,392.00	$57,964.00	$36,328.00	$  115,100.00	$57,964.00	$36,328.00	$  115,100.00	115,100.00	
1	1	Miami-Dade Tax Collector	11/26/21	NAV Taxes	$	13,290.95		$	(127.46)	$	(545.39)	$	12,618.10	$	3,678.90	$	2,306.00	$	7,306.05	$	3,492.60	$	2,189.25	$	6,936.25	$	6,936.25	
2	2	Miami-Dade Tax Collector	12/03/21	NAV Taxes	$  156,263.25		$	(1,500.12)	$  (6,250.53)	$  148,512.60	$	43,257.39	$	27,110.07	$	85,895.79	$	41,111.75	$	25,765.40	$	81,635.45	$	81,635.45	
3	3	Miami-Dade Tax Collector	12/08/21	NAV Taxes	$	22,165.00		$	(212.79)	$	(886.60)	$	21,065.61	$	6,135.80	$	3,845.40	$	12,183.80	$	5,831.41	$	3,654.70	$	11,579.50	$	11,579.50	
4	4	Miami-Dade Tax Collector	12/20/21	NAV Taxes	$	14,407.25		$	(138.42)	$	(565.21)	$	13,703.62	$	3,988.27	$	2,499.51	$	7,919.47	$	3,793.62	$	2,377.40	$	7,532.60	$	7,532.60	
5	5	Miami-Dade Tax Collector	01/11/22	NAV Taxes	$	4,991.15		$	(48.41)	$	(149.74)	$	4,793.00	$	1,381.55	$	865.95	$	2,743.65	$	1,326.65	$	831.60	$	2,634.75	$	2,634.75	
6	6	Miami-Dade Tax Collector	02/07/22	NAV Taxes	$	3,324.75		$	(32.58)	$	(66.48)	$	3,225.69	$	920.37	$	576.81	$	1,827.57	$	892.94	$	559.60	$	1,773.15	$	1,773.15	
7	Int - 1	Miami-Dade Tax Collector	02/28/22	Interest		$	7.70			$	7.70	$	7.70			$	7.70			$	-	
8	7	Miami-Dade Tax Collector	03/07/22	NAV Taxes	$	3,324.75		$	(32.81)	$	(44.32)	$	3,247.62	$	920.37	$	576.81	$	1,827.57	$	898.97	$	563.40	$	1,785.25	$	1,785.25	
9	8	Miami-Dade Tax Collector	04/12/22	NAV Taxes	$	2,774.65		$	(27.74)		$	2,746.91	$	768.00	$	481.40	$	1,525.25	$	760.31	$	476.60	$	1,510.00	$	1,510.00	
10	Int - 2	Miami-Dade Tax Collector	04/27/22	Interest		$	1.40			$	1.40	$	1.40			$	1.40			$	-	
11	9	Miami-Dade Tax Collector	05/06/22	NAV Taxes/Interest	$	2,216.50	$	66.50	$	(22.83)		$	2,260.17	$	680.35	$	384.40	$	1,218.25	$	673.52	$	380.55	$	1,206.10	$	1,206.10	
12	Int - 3	Miami-Dade Tax Collector	08/03/22	Interest		$	2.03			$	2.03	$	2.03			$	2.03			$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
					$ 222,758.25	$	77.63	$  (2,143.16)	$  (8,508.27)	$ 212,184.45	$  61,742.13	$  38,646.35	$ 122,447.40	$  58,792.90	$  36,798.50	$ 116,593.05	$ 116,593.05	

Note: $222,757, $61,664, $38,646 and $122,447 are 2021/2022 Budgeted
Assessment Roll:	assessments before discounts and fees.
$222,758.25	$209,392, $57,964, $36,328 and $115,100 are 2021/2022 Budgeted
assessments after discounts and fees.

$  222,758.25		
$	77.63	$  212,184.45	
$  (61,742.13)	$  (58,792.90)	
$  (38,646.35)	$  (36,798.50)	
$ (122,447.40)	$ (116,593.05)	
$	-	$	-