SILVER PALMS COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MARCH 17, 2025
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 March 17, 2025
6:00 p.m.
Call to Order
Proof of Publication	Page 1
Establish Quorum
Welcome and Seat Incumbent Lisa Riley to Seat #3 and Administer Oath of Office
Declare Vacancy to Seats #1 (Currently a Vacant Seat)
Consider Appointments to Vacancy in Seat #1 & Administer Oath of Office
Election of Officers
Chairman
Vice Chairman
Secretary/Treasurer
Assistant Secretaries
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
1.  October 21, 2024 Regular Board Meeting Minutes	Page 2
Old Business
New Business
Consider Resolution No. 2025-01 – Approving a Proposed Budget for FY 2025/2026	Page 6
Consider Resolution No. 2025-02 – Registered Agent Change	Page 13
Update on the Landshore Enterprises, Erosion Control and Shoreline Restoration Project
Ratify and Approval Turf Proposal for Trimming of Palms and Oak Trees	Page 15
Ratify and Approve Turf Proposal for Clusia Installation at Median on SW 232 Terrace	Page 16
Administrative Matters
1.  Financial Update	Page 17
Board Members/Staff: Additional Comments/Requests
Adjourn

AFFIDAVIT OF PUBLICATION

Account #	Order Number	Identification	Order PO	Amount	Cols	Depth	
142055	599698	Print Legal Ad-IPL01979940 - IPL0197994	Fiscal Year 2024/2025 Mt	$714.20	2	48 L	

Attention:

Laura J. Archer

PUBLISHED DAILY

Silver Palms Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410 LArcher@sdsinc.org

MIAMI-DADE-FLORIDA
STATE OF FLORIDA COUNTY OF MIAMI-DADE
Before the undersigned authority personally appeared: Mary Castro, who on oath says that he/she is CUSTODIAN OF RECORDS of The Miami Herald, a daily newspaper published at Miami in Miami-Dade County, Florida; that the attached copy of the advertisement that was published was published in said newspaper in the issue
(s) of:
Publication: Miami Herald 1 insertion(s) published on:
10/10/24

Affiant further says that the said Miami Herald is a newspaper published at Miami, in the said Miami-Dade County, Florida and that the said newspaper has heretofore been continuously published in said Dade County, Florida each day and has been entered a second class mail matter at the post office in Miami, in said Miami-Dade County, Florida, for a period of two years next preceding the first publication of the attached copy of advertisement; and affiant further says that he/she has neither paid or promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper(s).The McClatchy Company complies with all legal requirements for publication in chapter 50, Florida Statutes.

Sworn to and subscribed before me this 10th day of October in the year of 2024

Notary Public in and for the state of Texas, residing in Dallas County

Extra charge for lost or duplicate affidavits. Legal document please do not destroy!

SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 21, 2024

CALL TO ORDER

The October 21, 2024, Regular Board Meeting of the Silver Palms Community Development District (the “District”) was called to order at 6:01 p.m. in a Meeting Room of Mercedes Benz of Cutler Bay located at 10701 SW 211th Street, Cutler Bay, Florida 33189.

PROOF OF PUBLICATION

Proof of publication was presented that Notice of the Regular Board Meeting had been published in the Miami Herald on October 10, 2024, as part of the District’s Fiscal Year 2024/2025 Meeting Schedule, as legally required.

ESTABLISH A QUORUM
It was determined that the attendance of the following Supervisors constituted a quorum, and it was in order to proceed with the meeting: Chairperson Lisa Riley and Supervisors Omar Reyes, Bryan Riley (via telephone) and Ashley Riley.

Staff in attendance included: District Manager Gloria Perez of Special District Services, Inc.; General Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.; and District Engineer Angel Camacho of Alvarez Engineers, Inc.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA
There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
August 19, 2024, Regular Board Meeting

Mrs. Perez presented the minutes of the August 19, 2024, Regular Board Meeting and recommended approval.

A MOTION was made by Supervisor Ashley Riley, seconded by Supervisor Bryan Riley and passed unanimously approving the minutes of the August 19, 2024, Regular Board Meeting, as presented.

OLD BUSINESS
There were no Old Business items to come before the Board.

NEW BUSINESS
Erosion Control and Shoreline Restoration Project
Alvarez Engineers, Inc. Presentation of Bid Analysis and Proposals

Mr. Camacho provided an overview of the bid analysis and proposals for the Erosion Control and Shoreline Restoration Project and addressed the shoreline methods of repair being proposed by both contractors.

Consider Award for Erosion Control and Shoreline Restoration Project

After reviewing the bid packages and rankings followed by recommendations, Mr. Camacho recommended that the project be awarded to Landshore Enterprises by selecting the option that covers both Priority 1 and 2 at the same time for the proposed price of $556,232.71. It was indicated that a Performance and Payment Bond would be recommended for this project.

The Board reviewed the two (2) companies that provided proposals for this project, presenting costs for three options consisting of: Priority 1, Priority 2 and lastly, both Priority 1 and 2. The Board selected Priority 1 and 2 at the same time, as recommended by the District Engineer and consistent with the following costs:

Landshore Enterprises LLC	$556,232.71 with a twenty (20) year warranty Solitude Lake Management	$512,324.56 with a five (5) year warranty

Mrs. Perez noted that the Bond Funds allocated for this project were $480,000 that would be available to pay for said project. She further noted that any additional cost would come from the interest that had been accrued and if needed, the general expense account.

A discussion ensued after which the following motion was made:

A MOTION was made by Supervisor Ashley Riley, seconded by Supervisor Omar Reyes and unanimously passed accepting the ranking of the bids, as presented by the District Engineer Angel Camacho, for the Erosion Control and Shoreline Restoration Project (the “Project”), as outlined in the proposal documents kept on file, in the order as follows:

Ranked #1 Landshore Enterprises, LLC, with a score of 98,000, and bid amount of $556,232.71. Ranked #2 Solitude Lake Management, with a score of 90,000, and bid amount of $512,324.56.

further accepting and receiving the bids and rankings in the order provided above and further directing the District Engineer to negotiate an agreement with Landshore Enterprises on behalf of the District; and further authorizing and directing the agreement be prepared by the District Engineer and reviewed by District Counsel and the District Manager prior to finalization; and simultaneously,

directing District Staff engage the services of Landshore Enterprises and execute an agreement for this project on behalf of the District.

District management will advise the Board via email once the project start date has been confirmed.

Consider Resolution No. 2024-07 – Adopting a Fiscal Year 2023/2024 Amended Budget

Mrs. Perez presented Resolution No. 2024-07, entitled:
RESOLUTION NO. 2024-07
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2023/2024 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

Mrs. Perez explained, as done every year for administrative and statutory requirements, within 60 days of any given fiscal year end, the Board adopts a revised/amended budget for said year. The fiscal year ended on September 30, 2024. This is the reason it is administrative in nature (past year’s budget for past year’s expenses) and will serve as the Board’s final approval/ratification of the District’s expenditures for the past fiscal year.

A MOTION was made by Supervisor Ashly Riley, seconded by Supervisor Omar Reyes and unanimously passed adopting Resolution No. 2024-07, adopting a Fiscal Year 2023/2024 Amended Budget.

Consider Ratification and Approval of Turf Proposal for Vegetation Removal

A MOTION was made by Supervisor Ashley Riley, seconded by Supervisor Omar Reyes and passed unanimously ratifying and approving the Turf Proposal dated August 21, 2024, for vegetation removal on District owned common areas located near 22967 SW 109 Avenue in the amount of
$425.00.

This work was approved by the Chair and has since been completed.

ADMINISTRATIVE MATTERS
Financial Update

Mrs. Perez presented the financials provided in the meeting materials and briefly went over them. Available funds as of September 30, 2024, were $223,855.62.

A MOTION was made by Supervisor Ashley Riley, seconded by Supervisor Bryan Riley and passed unanimously ratifying and approving the financials, as presented.

Accept and Receive 2024 Engineer’s Report

Mrs. Perez presented the Annual Engineer’s Report, which was provided in the meeting materials.

A MOTION was made by Supervisor Ashely Riley, seconded by Supervisor Lisa Riley and passed unanimously accepting and receiving the District’s 2024 Annual Engineer’s Report, as presented.

BOARD MEMBER/STAFF ADDITIONAL COMMENTS/REQUESTS

There were no further comments.

ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned on a MOTION made by Supervisor Lisa Riley, seconded by Supervisor Ashley Riley and passed unanimously adjourning the meeting at 6:18 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION NO. 2025-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2025/2026; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Silver Palms Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2025/2026 has been prepared and considered by the Board.

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

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2025/2026 attached hereto as Exhibit “A” is approved and adopted.

Section 2.  A Public Hearing is hereby scheduled for May 19, 2025 at 6:00 p.m. in the Meeting Room at Mercedes Benz of Cutler Bay, 10701 SW 211th Street, Cutler Bay, Florida 33189, and/or utilizing communications media technology (whichever is applicable) for the purpose of receiving public comments on the Proposed Fiscal Year 2025/2026 Budget.

PASSED, ADOPTED and EFFECTIVE this 17th day of March, 2025.

ATTEST:	SILVER PALMS
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Silver Palms Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
Administrative Assessments	63,283	
Maintenance Assessments	42,771	
Debt Assessments	193,202	
Interest Income	1,200	
TOTAL REVENUES	$	300,456	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Lawn Maintenance/Landscaping	27,000	
Aquatic Maintenance	2,000	
Maintenance/District Improvements	4,205	
Engineering/Inspections	3,000	
Contingency/Reserve	4,000	
TOTAL MAINTENANCE EXPENDITURES	40,205	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	420	
Management	21,516	
Secretarial	2,700	
Legal	9,000	
Assessment Roll	3,500	
Audit Fees	3,600	
Insurance	7,400	
Legal Advertisements	3,000	
Miscellaneous	800	
Postage	250	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fee	4,250	
Continuing Disclosure Fee	250	
Website Management	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,061	
		
TOTAL EXPENDITURES	$	104,266	
		
REVENUES LESS EXPENDITURES	$	196,190	
		
Debt Payments	(181,610)	
		
BALANCE	$	14,580	
		
County Appraiser & Tax Collector Fee	(5,985)	
Discounts For Early Payments	(11,970)	
		
Excess/ (Shortfall)	$	(3,375)	
		
Carryover Funds From Prior Year	3,375	
		
Net Excess/ (Shortfall)	$	-	

DETAILED PROPOSED BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
Administrative Assessments	63,896	63,309	63,283	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	42,771	42,771	42,771	Expenditures /.94	
Debt Assessments	193,202	193,202	193,202	Bond Payments/.94	
Interest Income	12,716	600	1,200	Estimated At $100 Per Month	
TOTAL REVENUES	$	312,585	$	299,882	$	300,456		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Lawn Maintenance/Landscaping	22,759	27,000	27,000	No Change From 2024/2025 Budget	
Aquatic Maintenance	2,000	2,000	2,000	No Change From 2024/2025 Budget	
Maintenance/District Improvements	0	4,205	4,205	No Change From 2024/2025 Budget	
Engineering/Inspections	2,435	3,000	3,000	No Change From 2024/2025 Budget	
Contingency/Reserve	8,800	4,000	4,000	No Change From 2024/2025 Budget	
TOTAL MAINTENANCE EXPENDITURES	35,994	40,205	40,205		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	4,600	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	352	420	420	Projected At 8% Of Supervisor Fees	
Management	20,316	20,916	21,516	CPI Adjustment	
Secretarial	2,700	2,700	2,700	No Change From 2024/2025 Budget	
Legal	8,290	9,000	9,000	No Change From 2024/2025 Budget	
Assessment Roll	3,500	3,500	3,500	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2024/2025 Audit	
Insurance	6,594	7,200	7,400	Fiscal Year 2024/2025 Expenditure Was $6,858	
Legal Advertisements	2,721	2,000	3,000	Costs Have Increased Due To Closing Of The Miami Business Review	
Miscellaneous	524	900	800	$100 Decrease From 2024/2025 Budget	
Postage	187	250	250	No Change From 2024/2025 Budget	
Office Supplies	415	450	450	No Change From 2024/2025 Budget	
Dues & Subscriptions	175	175	175	No Change From 2024/2025 Budget	
Trustee Fee	4,246	4,100	4,250	$150 Increase From 2024/2025 Budget	
Continuing Disclosure Fee	250	250	250	No Change From 2024/2025 Budget	
Website Management	1,750	1,750	1,750	No Change From 2024/2025 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	60,020	$	62,111	$	64,061		
					
TOTAL EXPENDITURES	$	96,014	$	102,316	$	104,266		
					
REVENUES LESS EXPENDITURES	$	216,571	$	197,566	$	196,190		
					
Debt Payments	(184,079)	(181,610)	(181,610)	2026 Principal & Interest Payments	
					
BALANCE	$	32,492	$	15,956	$	14,580		
					
County Appraiser & Tax Collector Fee	(2,883)	(5,985)	(5,985)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,254)	(11,971)	(11,970)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	18,355	$	(2,000)	$	(3,375)		
					
Carryover Funds From Prior Year	0	2,000	3,375	Carryover Funds From Prior Year	
					
Net Excess/ (Shortfall)	$	18,355	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
3,912	
400	
1,000	
Projected Interest For 2025/2026	

NAV Tax Collection	
184,079	
181,610	
181,610	
Maximum Debt Service Collection	

Total Revenues	
$	187,991	
$	182,010	
$	182,610		

EXPENDITURES					

Principal Payments	
110,000	
115,000	
121,000	
Principal Payment Due In 2026	

Interest Payments	
61,843	
65,764	
60,159	
Interest Payments Due In 2026	

Bond Redemption	
0	
1,246	
1,451	
Estimated Excess Debt Collections	

Total Expenditures	
$	171,843	
$	182,010	
$	182,610		

Excess/ (Shortfall)	
$	16,148	
$	-	
$	-		

Note: 2023 Bond Refunding, Included Project Proceeds Of $480,000.

Series 2023 Bond Refunding Information		
Original Par Amount =	$1,552,000	Annual Principal Payments Due:	May 1st	
Interest Rate = Issue Date = Maturity Date =	4.75%
June 2023
May 2034	May 1st
Annual Interest Payments Due: May 1st & November 1st	May 1st & November 1st	
Par Amount As Of 1/1/25 =	$1,442,000			

Silver Palms Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2022/2023	2023/2024	2024/2025	2025/2026	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	
$	305.88	
$	315.37	
$	314.98	
$	
314.85	
Maintenance	$	193.18	$	212.80	$	212.80	$	212.80	
Debt	$	609.19	 $	961.21	 $	961.21	$	961.21	
Total	$	1,108.25	$	1,489.38	$	1,488.99	$	1,488.86	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
 Community Information:		 Total Units	201

RESOLUTION 2025-02

A RESOLUTION OF THE SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DESIGNATING MICHAEL J. PAWELCZYK AS THE DISTRICT’S REGISTERED AGENT AND DESIGNATING THE OFFICE OF BILLING, COCHRAN, LYLES, MAURO & RAMSEY, P.A. AS THE REGISTERED OFFICE

WHEREAS, Section 189.014, Florida Statutes requires that the Silver Palms Community Development District (the “District”) designate a registered office and a registered agent, and further authorizes the District to change its registered office and registered agent, at the discretion of the District Board of Supervisors (the “Board”); and

WHEREAS, the designation of both a registered office and a registered agent is for the purpose of accepting service of process, notice, or demand that is required or permitted by law to be served upon the District; and

WHEREAS, the Board has been informed by the office of District Counsel that there is a need to designate a new registered agent for the District; and

WHEREAS, the Board seeks designate Michael J. Pawelczyk as the registered agent for the District, and update the business address of the registered office of the District, as necessary.

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

Section 1.	The foregoing recitals are hereby incorporated as findings of fact of the Board.

Section 2.  Michael J. Pawelczyk is hereby designated as the registered agent for the District, thereby replacing any previously designated registered agent.

Section 3.  The registered office of the District is hereby designated as the office at Billing, Cochran, Lyles, Mauro & Ramsey, P.A., 515 East Las Olas Boulevard, Suite 600, Fort Lauderdale, Florida 33301. The registered office is identical to the business address of the registered agent designated in Section 2 of this Resolution.

Section 4. Pursuant to the requirements of Section 189.014(2), Florida Statutes, the District’s Secretary shall transmit copies of this Resolution to the local governing authority or authorities and to the Florida Department of Economic Opportunity.

Section 5.  All resolutions or parts of resolutions in conflict herewith are repealed to the extent of such conflict.

1

Section 6.   If any clause, section or other part or application of this Resolution is held by a court of competent jurisdiction to be unconstitutional, illegal or invalid, in part or as applied, it shall not affect the validity of the remaining portions or applications of this Resolution.

Section 7.	This Resolution shall be effective immediately upon adoption.

PASSED AND ADOPTED THIS 17th DAY OF MARCH, 2025.

ATTEST:

SILVER PALMS
COMMUNITY DEVELOPMENT DISTRICT

	

Print name: 		Print name: 	 Secretary/Assistant Secretary		Chair/Vice-Chair, Board of Supervisors

2

MANAGEMENT

,T,,U,
12600 S.W.125Avenue
(305) 255-7000

1/31/25.

Silver Palm CDD
8785 SW 165 AVE
Miami, Fl. 33193

RE: Tree and Palm trimming throughout common area.,s

We propose to trim 23 Live Oak trees and 28 Royal palms. These trees are located on distinct property. All trees and palms will be trimmed to meet ANSI-A300 standards for pruning. Oak trees will be lifted to allow vehicular traffic and thinned out to allow high speed winds to pass through without damaging the trees. We shall trim up to 25% of the canopy, while selectively pruning them. All palms will be trimmed to a 10 to 3 position. Price includes removal and disposal of all debris.

Our Charge: $ 3,950.00

A:;;;2;22_
'-.._/

Fernando Toledo
ISA Certified Arborist

/	/4	Turf Management
Date: ..2-S-

This proposal becomes a Contract upon acceptance by both parties.
d	y' fk/hi:ja/&v( t	-

MANAGEMENT

,T,,U,
12600 S.W.125Avenue
(305) 255-7000

1/31/25.

Silver Palm CDD
8785 SW 165 AVE
Miami, Fl. 33193

RE: Clusia installation for median on 232 Ter.

We propose to fill in holes where cars have damage Clusia hedge along 232 Ter. We shall remove stumps from the damaged plants and install new plants to fill hedge. We are providing two options, option (A} will be 7 gal plants and option (B} will be 3 gal plants. Option (A} 7 gal plants are going to be almost the same size as the existing plants, but more expensive. Option (B} will be smaller plants and less expensive, however, will take a few months to get to same size as existing plants.

Price includes delivery, installation, removal and disposal of all debris. tion (
Clus1
rge:

Opy<fu(

5-

}c arg0'sp.oo

Date:  -;/4,ptvs-

This proposal becomes a Contract upon acceptance by both parties.

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o/	j

Fernando Toledo
ISA Certified Arborist Turf Management

Silver Palms Community Development District

Financial Report For February 2025

Silver Palms Community Development District
Budget vs. Actual
October 2024 through February 2025

Oct 24 - Feb 25	24/25 Budget	$ Over Budget	% of Budget
			
Income

363.100 ꞏ Admin Assessments	60,112.99		63,309.00		-3,196.01		94.95%	
363.101 ꞏ Maintenance Assessments	40,522.40		42,771.00		-2,248.60		94.74%	
363.810 ꞏ Debt Assessment	183,037.93		193,202.00		-10,164.07		94.74%	
363.820 ꞏ Debt Assessment-Paid To Trustee	-173,969.74		-181,610.00		7,640.26		95.79%	
363.830 ꞏ County Tax Collector Fee	-2,722.15		-5,985.00		3,262.85		45.48%	
363.831 ꞏ Discounts for Early Payments	-11,325.38		-11,971.00		645.62		94.61%	
369.042 ꞏ Carryover From Prior Year	0.00		2,000.00		-2,000.00		0.0%	
369.401 ꞏ Interest Income	4,046.73		600.00		3,446.73		674.46%	
Total Income	99,702.78		102,316.00		-2,613.22		97.45%	
Gross Profit	99,702.78		102,316.00		-2,613.22		97.45%	
Expense								
511.122 ꞏ Payroll Tax Expense	61.20		420.00		-358.80		14.57%	
511.131 ꞏ Supervisors Fees	800.00		5,000.00		-4,200.00		16.0%	
511.306 ꞏ Lawn Maint/Landscaping	12,005.30		27,000.00		-14,994.70		44.46%	
511.307 ꞏ Aquatic Maintenance	833.30		2,000.00		-1,166.70		41.67%	
511.308 ꞏ Maint/District Improvements	0.00		4,205.00		-4,205.00		0.0%	
511.309 ꞏ Contingency/Reserve	0.00		4,000.00		-4,000.00		0.0%	
511.310 ꞏ Engineering	1,791.25		3,000.00		-1,208.75		59.71%	
511.311 ꞏ Management Fees	8,715.00		20,916.00		-12,201.00		41.67%	
511.312 ꞏ Secretarial Fees	1,125.00		2,700.00		-1,575.00		41.67%	
511.315 ꞏ Legal Fees	2,207.50		9,000.00		-6,792.50		24.53%	
511.316 ꞏ Eng- Shoreline Ctrl & Rest Proj	633.71		0.00		633.71		100.0%	
511.318 ꞏ Assessment/Tax Roll	0.00		3,500.00		-3,500.00		0.0%	
511.320 ꞏ Audit Fees	0.00		3,500.00		-3,500.00		0.0%	
511.450 ꞏ Insurance	6,858.00		7,200.00		-342.00		95.25%	
511.480 ꞏ Legal Advertisements	714.20		2,000.00		-1,285.80		35.71%	
511.512 ꞏ Miscellaneous	242.26		900.00		-657.74		26.92%	
511.513 ꞏ Postage and Delivery	28.64		250.00		-221.36		11.46%	
511.514 ꞏ Office Supplies	102.85		450.00		-347.15		22.86%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	0.00		4,100.00		-4,100.00		0.0%	
511.734 ꞏ Continuing Disclosure Fee	0.00		250.00		-250.00		0.0%	
511.750 ꞏ Website Management	729.15		1,750.00		-1,020.85		41.67%	
Total Expense	37,022.36		102,316.00		-65,293.64		36.18%	
Net Income	62,680.42		0.00		62,680.42		100.0%	

`	SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
FEBRUARY 2025

REVENUES	
Annual Budget
10/1/24 - 9/30/25	
Actual Feb-25	Year To Date Actual
10/1/24 - 2/28/25	
Administrative Assessments	63,309	133	60,113	
Maintenance Assessments	42,771	0	40,522	
Debt Assessments	193,202	0	183,038	
Interest Income	600	0	4,046	
Total Revenues	$	299,882	$	133	$	287,719	
				
EXPENDITURES				
Maintenance Expenditures				
Lawn Maintenance/Landscaping	27,000	5,399	12,005	
Aquatic Maintenance	2,000	167	833	
Maintenance/District Improvements	4,205	0	0	
Engineering/Inspections	3,000	0	1,791	
Engineering - Shoreline Control & Restoration Project	0	0	634	
Contingency/Reserve	4,000	0	0	
Total Maintenance Expenditures	$	40,205	$	5,566	$	15,263	
				
Adminstrative Expenditures				
Supervisor Fees	5,000	0	800	
Payroll Taxes (Employer)	420	0	61	
Management	20,916	1,743	8,715	
Secretarial	2,700	225	1,125	
Legal	9,000	0	2,208	
Assessment Roll	3,500	0	0	
Audit Fees	3,500	0	0	
Insurance	7,200	0	6,858	
Legal Advertisements	2,000	0	714	
Miscellaneous	900	37	242	
Postage	250	3	29	
Office Supplies	450	10	103	
Dues & Subscriptions	175	0	175	
Trustee Fee	4,100	0	0	
Continuing Disclosure Fee	250	0	0	
Website Management	1,750	146	729	
Total Administrative Expenditures	$	62,111	$	2,164	$	21,759	
				
Total Expenditures	$	102,316	$	7,730	$	37,022	
				
Revenues Less Expenditures	$	197,566	$	(7,597)	$	250,697	
				
Bond Payments	(181,610)	0	(173,970)	
				
Balance	$	15,956	$	(7,597)	$	76,727	
				
County Appraiser & Tax Collector Fee	(5,985)	0	(2,722)	
Discounts For Early Payments	(11,971)	0	(11,325)	
				
Excess/ (Shortfall)	$	(2,000)	$	(7,597)	$	62,680	
				
Carryover From Prior Year	2,000	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(7,597)	$	62,680	

Bank Balance As Of 2/28/25	$	318,289.78	
Accounts Payable As Of 2/28/25	$	30,453.33	
Accounts Receivable As Of 2/28/25	$	-	
Available Funds As Of 2/28/25	$	287,836.45	

SILVER PALMS CDD TAX COLLECTIONS 2024-2025

#	

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	
									$299,287.00	$63,311.00	$42,773.00	$  193,203.00	$63,311.00	$42,773.00	$  193,203.00		
									$283,926.00	$62,111.00	$40,205.00	$  181,610.00	$62,111.00	$40,205.00	$  181,610.00	181,610.00	
1	1	Miami-Dade Tax Collector	12/09/24	NAV Taxes	$  247,172.34		$	(2,372.85)	$  (9,886.96)	$  234,912.53	$	52,286.68	$	35,324.80	$  159,560.86	$	49,693.18	$	33,572.65	$  151,646.70	$  151,646.70	
2	2	Miami-Dade Tax Collector	11/25/24	NAV Taxes	$	14,889.90		$	(142.94)	$	(595.60)	$	14,151.36	$	3,149.80	$	2,128.00	$	9,612.10	$	2,993.56	$	2,022.45	$	9,135.35	$	9,135.35	
3	3	Miami-Dade Tax Collector	11/26/24	NAV Taxes	$	8,933.94		$	(85.77)	$	(357.36)	$	8,490.81	$	1,889.88	$	1,276.80	$	5,767.26	$	1,796.14	$	1,213.47	$	5,481.20	$	5,481.20	
4	4	Miami-Dade Tax Collector	12/04/24	NAV Taxes	$	3,527.00		$	(33.42)	$	(185.17)	$	3,308.41	$	746.10	$	504.08	$	2,276.82	$	699.85	$	472.84	$	2,135.72	$	2,135.72	
5	5	Miami-Dade Tax Collector	01/10/25	NAV Taxes	$	4,550.11		$	(44.14)	$	(136.50)	$	4,369.47	$	962.53	$	650.30	$	2,937.28	$	924.32	$	624.48	$	2,820.67	$	2,820.67	
6	6	Miami-Dade Tax Collector	12/19/24	NAV Taxes	$	4,466.97		$	(43.03)	$	(163.79)	$	4,260.15	$	944.94	$	638.42	$	2,883.61	$	901.19	$	608.86	$	2,750.10	$	2,750.10	
7	7	Miami-Dade Tax Collector	02/07/25	Interest		$	133.06			$	133.06	$	133.06			$	133.06			$	-	
8									$	-							$	-	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
					$ 283,540.26	$  133.06	$  (2,722.15)	$ (11,325.38)	$ 269,625.79	$  60,112.99	$  40,522.40	$ 183,037.93	$  57,141.30	$  38,514.75	$ 173,969.74	$ 173,969.74	

	Assessment Roll		  Collections 	Note: $299,287, $63,311, $42,773 and $193,203 are 2024/2025 Budgeted	
Admin:	$63,310.98	94.74%	assessments before discounts and fees.	
Maint:	$42,772.80		$283,926, $62,111, $40,205 and $181,610 are 2024/2025 Budgeted	
	Debt:  $193,203.21	assessments after discounts and fees.
Total  $299,286.99

	$  283,540.26		
Assessment Roll:	$	133.06	$  269,625.79	
201 Units X 1,488.99 = 299,286.99	$  (60,112.99)	$  (57,141.30)	
	$  (40,522.40)	$  (38,514.75)	
	$ (183,037.93)	$ (173,969.74)	
	$	-	$	-