Pine Isle
Community Development District March 13, 2026

Seat 1: Teresa Baluja – C		
Seat 3: Carmen Orozco – V.C.		
Seat 2: Vanessa Perez – A.S.		
Seat 4: Marc Szasz – A.S.		
Seat 5: Raisa Krause – A.S.		

Pine Isle
Community Development District
(Pine Vista)
Agenda

Friday	The Offices of Lennar Homes
March 13, 2026	5505 Waterford District Drive, Miami, Florida 9:45 a.m.		Join the meeting now
Meeting ID: 224 728 591 948 95 and Passcode: wi9eZ732
1 872-240-4685 and Phone Conference ID: 331 941 369#

Roll Call
Approval of Minutes of the January 9, 2026 Meeting – Page 3
Consideration of Resolution 2026-02 Approving the Proposed Fiscal Year 2027 Budget and Setting the Public Hearing – Page 9
Discussion of
Procedures for Landowners Election Meeting – November 13, 2026 – Page 20

Procedures for General Election – Page 23

Consideration of Engagement Letter with Grau & Associates to perform the Audit for Fiscal Year Ending in September 30, 2026 – Page 26

Staff Reports
Attorney – Consideration of Request for Adjustment to District Counsel Fee Structure – Page 31
Engineer – Engineers Personnel Billing Rates – Page 33
Manager – Updates on the Status of the Maintenance Agreement with the HOA
Financial Reports
Approval of Check Register – Page 35
Approval of Unaudited Financials – Page 39
Supervisors Requests and Audience Comments
Adjournment

Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: http://www.pineislecdd.com

MINUTES OF MEETING PINE ISLE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Pine Isle Community Development District was held on Friday, January 9, 2026, at 9:51 a.m. at the Offices of Lennar Homes, 5505 Waterford District Drive, Miami, Florida.

Present and constituting a quorum were:

Teresa Baluja	Chairperson
Vanessa Perez	Assistant Secretary
Raisa Krause	Assistant Secretary Also present were:
Juilana Duque	District Manager, GMS
Michael Pawelczyk by phone	District Counsel

FIRST ORDER OF BUSINESS	Roll Call
Ms. Duque called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Approval of the Minutes of the
November 14, 2025 Meeting
Ms. Duque: The next item is the approval of the minutes of the November 14, 2025, meeting. Are there any additions, corrections, or deletions to those minutes? Hearing no changes, is there a motion to approve the minutes of the November 14, 2025, meeting?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the Minutes of the November 14, 2025 Meeting, were approved.

THIRD ORDER OF BUSINESS	Public	Hearing	to	Adopt	the
DERM Rules
Motion to Open the Public Hearing
Ms. Duque: At this time we will move to the public hearing to consider the adoption of the DERM rules and Resolution 2026-01. Is there a motion to open the public hearing?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the Opening of the Public Hearing, was approved.

Public Comment and Discussion
Ms. Duque: For the record, the District has advertised this public hearing for the purpose of considering the amended and restated rules related to compliance with the declaration of restrictive covenants, as well as the engineering control and maintenance plans for the District’s contaminated groundwater and soil areas, consistent with the requirements of Miami-Dade County. I will first open the floor for public comment, and I would note that there is no one present today and no members of the public participating via teleconference. Board members, are there any discussions, comments, or questions regarding the proposed amended and restated DERM rules?

Consideration of Resolution #2026-01 Adopting the DERM Rules
Ms. Duque: Let’s move forward to the consideration of the Resolution 2026-01 adopting the DERM rules. Hearing no comments, I will ask for a motion to approve the resolution.

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Resolution #2026-01 Adopting the DERM Rules, was approved.

Motion to Clos the Public Hearing
Ms. Duque: Is there a motion to close the public hearing?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the Closing of the Public Hearing, was approved.

FOURTH ORDER OF BUSINESS	Audit	Selection	Committee
Meeting:
Opening Audit Selection Committee Meeting
Ms. Duque: Let’s now move to recess the regular Board meeting and convene the Audit Selection Committee meeting. Is there a motion to open the Audit Selection Committee meeting?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the Opening audit Selection Committee Meeting, was approved.

Roll Call
Ms. Duque: For the Audit Selection Committee meeting I will call the roll. Present today we have Teresa, Vanessa, and Raisa. Joining us over the teleconference we have Mike Pawelczyk.

Ranking of Respondents to RFP
Ms. Duque: The next item is the ranking of the respondents to the District’s RFP. Proposals were received from Berger, Toombs, Elam, Gaines & Frank and Grau & Associates. An evaluation and ranking sheet have been provided, and the fee, schedule, and other criteria are included in your agenda. As a reminder, the evaluation criteria are ability of personnel, proposer’s experience, understanding of the scope of work, ability to furnish the required services, and price, with each criterion worth up to 20 points for a total of 100 points. I will need the Board to provide me with scores so that we can rank the firms.
Ms. Baluja: I am proposing that we rank overall Grau as #1 giving them 100 points. Berger #2 giving them 90 points reducing in both price and experience only because we have had no experience with them. We’ve used Grau before. Grau is familiar with the District and has performed for us in the past. That is my proposed scoring.

Ms. Duque: Based on the scoring provided, the ranking will be Grau & Associates as #1 and Berger, Toombs, Elam, Gains & Frank as #2. Is there a motion to approve the ranking and recommend Grau as the #1 ranked auditor?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Ranking Grau & Associates as #1 Auditor, was approved.

Adjournment
Ms. Duque: Is there a motion to adjourn the Audit Selection Committee meeting?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the Audit Selection Committee Meeting, was adjourned.

Selection of Audit Firms
Ms. Duque: We will reconvene the regular meeting of the Board of Supervisors. For the record, the Board has received the Audit Committee’s recommendation ranking Grau as the #1 audit firm. Is there a motion from the Board to accept the Audit Selection Committee’s ranking and to select Grau & Associates as the District’s auditor for the fiscal year set forth in the proposal and also authorize the staff to negotiate and execute the engagement letter consistent with the proposal?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Selection of Grau & Associates as the Audit Firm and Authorizing Staff to Negotiate and Execute the Engagement Letter, was approved.

FIFTH ORDER OF BUSINESS	Authorization	to	Open	an
Account with State Board of Administration
Ms. Duque: Let’s move forward to the authorization to open an account with the State Board of Administration. Once again, this is under section 218 of Florida Statute to allow the District to invest surplus funds in the SBA’s local government investment pool

consistent with the District’s investment policy. Is there a motion to authorize staff to open this account with the State of Board Administration?

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Authorization to Open an Account with the State Board of Administration, was approved.

SIXTH ORDER OF BUSINESS	Acceptance of Audit for Fiscal
Year Ending September 30, 2025
Ms. Duque: The next item is the acceptance of the audit for Fiscal Year ending September 30, 2025. This audited financial report and auditor’s communication, including the management letter are included in your agenda. The auditor had issued an opinion on the District’s financial statement and there were no significant deficiencies in internal control reported. There were no instances of noncompliance noted that would be required to be reported under the government auditing standards. I will ask for a motion from the Board to accept the audit.

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Acceptance of Audit for Fiscal Year Ending September 30, 2025, was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Duque: Let's move forward then to the next item, staff reports. Attorney, Mike, do you have anything to report?
Mr. Pawelczyk: No, nothing that is not on the agenda that we haven’t already discussed.

Engineer
Ms. Duque: We don’t have anything additional to report under the engineer section.

Manager – Status of the Maintenance Agreement with HOA

Ms. Duque: I just want to provide an update on the status of the maintenance agreement with the HOA. This item remains pending. There has been an exchange of communications with the HOA’s current property manager, but as of today I have not received any direction from their side.
Ms. Perez: I think they just changed management companies.
Ms. Duque: That is correct. They have changed management companies, and I am waiting to hear back from the new management company so that I can follow up with the property manager again and bring more detailed information back to the Board. I will continue working to get the final agreement in place.

EIGHTH ORDER OF BUSINESS	Financial Reports
Acceptance of Check Register
Acceptance of Unaudited Financials
Ms. Duque: Tab A is acceptance of the check register and Tab B is the acceptance of the unaudited financials.

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, Accepting the Check Register and Unaudited Financials, were approved.

NINTH ORDER OF BUSINESS	Supervisors	Requests	and
Audience Comments
Ms. Duque: Do I have any Supervisor’s requests? For the record, there are no audience members present and no audience members joining us over the teleconference.

TENTH ORDER OF BUSINESS	Adjournment

On MOTION by Ms. Baluja, seconded by Ms. Perez, with all in favor, the meeting was adjourned.

Secretary /Assistant Secretary	Chairman / Vice Chairman

RESOLUTION 2026-02
A RESOLUTION OF THE PINE ISLE COMMUNITY DEVELOPMENT DISTRICT APPROVING THE DISTRICT’S PROPOSED BUDGET FOR FISCAL YEAR 2027 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW
WHEREAS, the District Manager has prepared the proposed budget for the Fiscal Year
2027; and

WHEREAS, the Board of Supervisors approves the proposed budget for purpose of submitting said budget to the local governing authorities not less than 60 days prior to the public hearing date in accordance with Chapter 190.008(b), Florida Statutes: and
WHEREAS, the Board of Supervisors desires to set the public hearing date;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PINE ISLE COMMUNITY DEVELOPMENT DISTRICT:
The proposed budget for Fiscal Year 2027 is hereby approved for the purpose of conducting a public hearing to adopt said budget.
A public hearing on said approved budget is hereby declared and set for the following date, hour and place:

Date: 	 Hour: 	 Place: 	

Notice of public hearing shall be published in accordance with Florida Law. Adopted this 	 day of 	, 2026

Chairman/Vice Chairman

Secretary/Assistant Secretary

Pine Isle	
Community Development District	

Proposed Budget	
FY 2027	

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Debt Service Fund Series 2021	

5	
	Amortization Schedule Series 2021	

6	
	Debt Service Fund Series 2023	

7	
	Amortization Schedule Series 2023 	

8	
	Assessment Schedule	

Pine Isle	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	89,923	$	82,443	$	7,480	$	89,923	$	128,760	

TOTAL REVENUES	$89,923	$82,443	$7,480	$89,923	$128,760	

EXPENDITURES:

Administrative						
Engineering	$	5,000	$	-	$	3,333	$	3,333	$	8,000	
Attorney	9,400	4,263	6,267	10,530	12,000	
Annual Audit	8,000	8,000	-	8,000	4,800	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Arbitrage Rebate	550	550	-	550	550	
Dissemination Agent	2,704	901	1,803	2,704	2,866	
Trustee Fees	8,691	4,445	4,246	8,691	8,691	
Management Fees	31,458	10,486	20,972	31,458	33,345	
Information Technology	1,298	433	865	1,298	1,376	
Website Maintenance	1,190	397	793	1,190	1,261	
Postage & Delivery	500	90	333	424	500	
Insurance General Liability	7,041	6,163	-	6,163	6,779	
Printing & Binding	100	1	67	67	100	
Legal Advertising	2,000	2,381	1,333	3,714	3,000	
Other Current Charges	1,001	562	667	1,229	1,500	
Office Supplies	50	0	33	33	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$81,157	$40,846	$40,713	$81,559	$86,994	

Operations & Maintenance

Field Expenditures

Repairs & Maintenance	$	2,500	$	-	$	1,250	$	1,250	$	2,500	
Drainage Maintenance	-	-	-	-	18,000	
Roadway Maintenance	-	-	-	-	15,000	
Contingency	6,266	-	3,133	3,133	6,266	

TOTAL FIELD EXPENDITURES	$8,766	$-	$4,383	$4,383	$41,766	

TOTAL EXPENDITURES	$89,923	$40,846	$45,096	$85,942	$128,760	

EXCESS REVENUES (EXPENDITURES)	$-	$41,597	$(37,616)	$3,981	$-	

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.	

Expenditures - 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.	
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 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 is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.	
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.	
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.	

Expenditures - Administrative (continued)	
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 Florida Department of Commerce for $175.	

Expenditures – Field	

Repairs & Maintenance	
Repairs and maintenance within the District.	

Drainage Maintenance	
Represents any expenditures related to drainage within the CDD.	

Roadway Maintenance	
The District will contract a company for the repair of the streets within the district.	

Contingency	
Represents an unanticipated cost associated with the operation and maintenance of the District's field operations.	

Pine Isle	
Community Development District	
Proposed Budget	
Debt Service Series 2021 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	576,073	$	523,454	$	52,619	$	576,073	$	576,073	
Interest Earnings	20,000	9,200	10,000	19,200	20,000	
Carry Forward Surplus (1)	486,650	487,734	-	487,734	513,949	

TOTAL REVENUES	$1,082,723	$1,020,387	$62,619	$1,083,006	$1,110,021	

EXPENDITURES:

Interest - 12/15	$	169,228	$	169,228	$	-	$	169,228	$	166,497	
Principal - 12/15	230,000	230,000	-	230,000	235,000	
Interest - 06/15	166,497	-	166,497	166,497	163,706	

TOTAL EXPENDITURES	$565,725	$399,228	$166,497	$565,725	$565,203	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	(3,332)	$	-	$	(3,332)	$	-	

TOTAL OTHER SOURCES/(USES)	$-	$(3,332)	$-	$(3,332)	$-	

TOTAL EXPENDITURES	$565,725	$402,560	$166,497	$569,057	$565,203	

EXCESS REVENUES (EXPENDITURES)	$516,998	$617,826	$(103,878)	$513,949	$544,818	

Interest Due 12/15/27	$163,706	
Principal Due 12/15/27	$240,000	
	$403,706	

(1) Carry Forward is Net of Reserve Requirement

Pine Isle	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

06/15/26	9,345,000	2.375%	-	166,496.88	-	
12/15/26	9,345,000	2.375%	235,000	166,496.88	567,994	
06/15/27	9,110,000	3.000%	-	163,706.25	-	
12/15/27	9,110,000	3.000%	240,000	163,706.25	567,413	
06/15/28	8,870,000	3.000%	-	160,106.25	-	
12/15/28	8,870,000	3.000%	250,000	160,106.25	570,213	
06/15/29	8,620,000	3.000%	-	156,356.25	-	
12/15/29	8,620,000	3.000%	255,000	156,356.25	567,713	
06/15/30	8,365,000	3.000%	-	152,531.25	-	
12/15/30	8,365,000	3.000%	265,000	152,531.25	570,063	
06/15/31	8,100,000	3.000%	-	148,556.25	-	
12/15/31	8,100,000	3.000%	270,000	148,556.25	567,113	
06/15/32	7,830,000	3.250%	-	144,506.25	-	
12/15/32	7,830,000	3.250%	280,000	144,506.25	569,013	
06/15/33	7,550,000	3.250%	-	139,956.25	-	
12/15/33	7,550,000	3.250%	290,000	139,956.25	569,913	
06/15/34	7,260,000	3.250%	-	135,243.75	-	
12/15/34	7,260,000	3.250%	295,000	135,243.75	565,488	
06/15/35	6,965,000	3.250%	-	130,450.00	-	
12/15/35	6,965,000	3.250%	305,000	130,450.00	565,900	
06/15/36	6,660,000	3.250%	-	125,493.75	-	
12/15/36	6,660,000	3.250%	315,000	125,493.75	565,988	
06/15/37	6,345,000	3.250%	-	120,375.00	-	
12/15/37	6,345,000	3.250%	325,000	120,375.00	565,750	
06/15/38	6,020,000	3.250%	-	115,093.75	-	
12/15/38	6,020,000	3.250%	335,000	115,093.75	565,188	
06/15/39	5,685,000	3.250%	-	109,650.00	-	
12/15/39	5,685,000	3.250%	350,000	109,650.00	569,300	
06/15/40	5,335,000	3.250%	-	103,962.50	-	
12/15/40	5,335,000	3.250%	360,000	103,962.50	567,925	
06/15/41	4,975,000	3.250%	-	98,112.50	-	
12/15/41	4,975,000	3.250%	370,000	98,112.50	566,225	
06/15/42	4,605,000	4.000%	-	92,100.00	-	
12/15/42	4,605,000	4.000%	385,000	92,100.00	569,200	
06/15/43	4,220,000	4.000%	-	84,400.00	-	
12/15/43	4,220,000	4.000%	400,000	84,400.00	568,800	
06/15/44	3,820,000	4.000%	-	76,400.00	-	
12/15/44	3,820,000	4.000%	415,000	76,400.00	567,800	
06/15/45	3,405,000	4.000%	-	68,100.00	-	
12/15/45	3,405,000	4.000%	430,000	68,100.00	566,200	
06/15/46	2,975,000	4.000%	-	59,500.00	-	
12/15/46	2,975,000	4.000%	450,000	59,500.00	569,000	
06/15/47	2,525,000	4.000%	-	50,500.00	-	
12/15/47	2,525,000	4.000%	465,000	50,500.00	566,000	
06/15/48	2,060,000	4.000%	-	41,200.00	-	
12/15/48	2,060,000	4.000%	485,000	41,200.00	567,400	
06/15/49	1,575,000	4.000%	-	31,500.00	-	
12/15/49	1,575,000	4.000%	505,000	31,500.00	568,000	
06/15/50	1,070,000	4.000%	-	21,400.00	-	
12/15/50	1,070,000	4.000%	525,000	21,400.00	567,800	
06/15/51	545,000	4.000%	-	10,900.00	-	
12/15/51	545,000	4.000%	545,000	10,900.00	566,800	

Total	$9,345,000	$5,413,194	$14,758,194	

Pine Isle	
Community Development District	
Proposed Budget	
Debt Service Series 2023 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	113,222	$	102,880	$	10,342	$	113,222	$	113,222	
Interest Earnings	2,000	3,868	4,000	7,868	6,000	
Carry Forward Surplus (1)	53,829	53,767	-	53,767	63,896	

TOTAL REVENUES	$169,051	$160,515	$14,342	$174,857	$183,117	

EXPENDITURES:

Interest - 12/15	$	42,650	$	42,650	$	-	$	42,650	$	42,088	
Principal - 06/15	25,000		25,000	25,000	25,000	
Interest - 06/15	42,650		42,650	42,650	42,088	

TOTAL EXPENDITURES	$110,300	$42,650	$67,650	$110,300	$109,175	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	(661)	$	-	$	(661)	$	-	

TOTAL OTHER SOURCES/(USES)	$-	$(661)	$-	$(661)	$-	

TOTAL EXPENDITURES	$110,300	$43,311	$67,650	$110,961	$109,175	

EXCESS REVENUES (EXPENDITURES)	$58,751	$117,204	$(53,308)	$63,896	$73,942	

Interest Due 12/15/27	$41,525	
	$41,525	

(1) Carry Forward is Net of Reserve Requirement

Pine Isle	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2023 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

06/15/26	1,590,000	4.500%	25,000	$42,650.00		
12/15/26	1,565,000	4.500%	-	$42,087.50	$109,738	
06/15/27	1,565,000	4.500%	25,000	$42,087.50		
12/15/27	1,540,000	4.500%	-	$41,525.00	$108,613	
06/15/28	1,540,000	4.500%	30,000	$41,525.00		
12/15/28	1,510,000	4.500%	-	$40,850.00	$112,375	
06/15/29	1,510,000	4.500%	30,000	$40,850.00		
12/15/29	1,480,000	4.500%	-	$40,175.00	$111,025	
06/15/30	1,480,000	4.500%	30,000	$40,175.00		
12/15/30	1,450,000	4.500%	-	$39,500.00	$109,675	
06/15/31	1,450,000	5.375%	30,000	$39,500.00		
12/15/31	1,420,000	5.375%	-	$38,693.75	$108,194	
06/15/32	1,420,000	5.375%	35,000	$38,693.75		
12/15/32	1,385,000	5.375%	-	$37,753.13	$111,447	
06/15/33	1,385,000	5.375%	35,000	$37,753.13		
12/15/33	1,350,000	5.375%	-	$36,812.50	$109,566	
06/15/34	1,350,000	5.375%	40,000	$36,812.50		
12/15/34	1,310,000	5.375%	-	$35,737.50	$112,550	
06/15/35	1,310,000	5.375%	40,000	$35,737.50		
12/15/35	1,270,000	5.375%	-	$34,662.50	$110,400	
06/15/36	1,270,000	5.375%	45,000	$34,662.50		
12/15/36	1,225,000	5.375%	-	$33,453.13	$113,116	
06/15/37	1,225,000	5.375%	45,000	$33,453.13		
12/15/37	1,180,000	5.375%	-	$32,243.75	$110,697	
06/15/38	1,180,000	5.375%	50,000	$32,243.75		
12/15/38	1,130,000	5.375%	-	$30,900.00	$113,144	
06/15/39	1,130,000	5.375%	50,000	$30,900.00		
12/15/39	1,080,000	5.375%	-	$29,556.25	$110,456	
06/15/40	1,080,000	5.375%	55,000	$29,556.25		
12/15/40	1,025,000	5.375%	-	$28,078.13	$112,634	
06/15/41	1,025,000	5.375%	55,000	$28,078.13		
12/15/41	970,000	5.375%	-	$26,600.00	$109,678	
06/15/42	970,000	5.375%	60,000	$26,600.00		
12/15/42	910,000	5.375%	-	$24,987.50	$111,588	
06/15/43	910,000	5.375%	60,000	$24,987.50		
12/15/43	850,000	5.375%	-	$23,375.00	$108,363	
06/15/44	850,000	5.500%	65,000	$23,375.00		
12/15/44	785,000	5.500%	-	$21,587.50	$109,963	
06/15/45	785,000	5.500%	70,000	$21,587.50		
12/15/45	715,000	5.500%	-	$19,662.50	$111,250	
06/15/46	715,000	5.500%	75,000	$19,662.50		
12/15/46	640,000	5.500%	-	$17,600.00	$112,263	
06/15/47	640,000	5.500%	80,000	$17,600.00		
12/15/47	560,000	5.500%	-	$15,400.00	$113,000	
06/15/48	560,000	5.500%	80,000	$15,400.00		
12/15/48	480,000	5.500%	-	$13,200.00	$108,600	
06/15/49	480,000	5.500%	85,000	$13,200.00		
12/15/49	395,000	5.500%	-	$10,862.50	$109,063	
06/15/50	395,000	5.500%	90,000	$10,862.50		
12/15/50	305,000	5.500%	-	$8,387.50	$109,250	
06/15/51	305,000	5.500%	95,000	$8,387.50		
12/15/51	210,000	5.500%	-	$5,775.00	$109,163	
06/15/52	210,000	5.500%	100,000	$5,775.00		
12/15/52	110,000	5.500%	-	$3,025.00	$108,800	
06/15/53	110,000	5.500%	110,000	$3,025.00	$113,025	

Total	$1,590,000	$1,507,631	$3,097,631	

Pine Isle	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

Single Family	

57	

57	

$248.69	

$173.68	

$75.01	

$1,563.16	

$1,563.16	

$0.00	

$1,811.85	

$1,736.84	

$75.01	
Townhomes	188	188	$248.69	$173.68	$75.01	$1,351.58	$1,351.58	$0.00	$1,600.27	$1,525.26	$75.01	
Villas	211	211	$248.69	$173.68	$75.01	$1,247.37	$1,247.37	$0.00	$1,496.06	$1,421.05	$75.01	

Annexed - Townhomes	
89	
89	
$248.69	
$173.68	
$75.01	
$1,339.11	
$1,339.11	
$0.00	
$1,587.80	
$1,512.79	
$75.01	
Total	545	545										

Page 8

Sample
Pine Isle
Community Development District Landowners Meeting Agenda

Friday	Lennar Homes
November 13, 2026	5055 Waterford District Drive 9:45 a.m.		Miami, Florida

Call to Order

Election of a Chairman for the Purpose of Conducting the Landowners Meeting

Determination of Number of Voting Units Represented

Nominations for the Position of Supervisors

Casting of Ballots

Tabulation of Ballots and Announcement of Results

Adjournment

Sample

LANDOWNER PROXY LANDOWNERS MEETING – NOVEMBER 13, 2026 PINE ISLE COMMUNITY DEVELOPMENT DISTRICT
MIAMI-DADE COUNTY, FLORIDA
KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints:

Proxy Holder
for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Pine Isle Community Development District to be held Lennar Homes, 5505 Waterford District Drive, Miami, Florida on November 13, 2026 at 9:45 a.m., and at any continuances or adjournments thereof, according to the number of acres of unplatted land and/or platted lots owned by the undersigned landowner which the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing which may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with their discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting.
Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the annual meeting and any adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation presented at the annual meeting prior to the Proxy Holder exercising the voting rights conferred herein.

Print or type name of Landowner	Date (or, if applicable, authorized representative of Landowner)

Signature of Landowner, or Landowner Representative

Parcel Description	Acreage	Authorized Votes*

(must be street address, tax parcel ID number, or legal description attached)

Total Number of Authorized Votes:
* Pursuant to section 190.006(2)(b), Florida Statutes (2007), a fraction of an acre is treated as one (1) acre entitling the landowner to one vote with respect thereto.
Please note that a particular real property is entitled to only one vote for each eligible acre of lands or fraction thereof; two (2) or more persons who own real property in common that is one acre or less are together entitled to only one vote for that real property. If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto. (e.g., bylaws, corporate resolution, etc.). If more than one parcel, each must be listed or described.

Sample

OFFICIAL BALLOT PINE ISLE
COMMUNITY DEVELOPMENT DISTRICT MIAMI, FLORIDA
LANDOWNERS MEETING ON NOVEMBER 13, 2026

For Interval Elections (1 Supervisor): The candidate receiving the most votes will each receive a four
(4) year term.

The undersigned certifies that they are the fee simple owner or proxy holder of the landowner (proxy form attached) of the land described in the attachment hereto, which land lies within the boundaries of the Pine Isle Community Development District;
***LEGAL DESCRIPTION OF PROPERTY ATTACHED***
and cast their vote(s) for the following:

NAME OF CANDIDATE	NUMBER OF VOTES
1. 	 (Seat 3)		

Dated: 		Signed: 	 Name: 	 

NOTICE OF QUALIFYING PERIOD FOR CANDIDATES FOR THE BOARD OF SUPERVISORS OF THE
PINE ISLE COMMUNITY DEVELOPMENT DISTRICT
Notice is hereby given that the qualifying period for candidates for the office of Supervisor of the Pine Isle Community Development District will commence at noon on June 8, 2026, and close at noon on June 12, 2026. Candidates must qualify for the office of Supervisor with the Miami - Dade Supervisor of Elections located at 2700 NW 87 Avenue, Doral, Florida 33172 and phone number is 305-499-8683 / 305-499-8410. All candidates shall qualify for individual seats in accordance with Section 99.061, Florida Statutes, and must also be qualified electors of the District. A qualified elector is any person at least 18 years of age who is a citizen of the United States, a legal resident of the State of Florida and of the District, and who is registered to vote with the Miami-Dade County Supervisor of Elections. Campaigns shall be conducted in accordance with Chapter 106, Florida Statutes.
The Pine Isle Community Development District has two seats up for election, specifically Seat #4 and Seat #5. Each seat carries a four-year term of office. Elections are nonpartisan and will be held at the same time as the general election on November 3, 2026, in the manner prescribed by law for general elections.

From: Pozo, Sandy (Elections) <Sandy.Pozo@votemiamidade.gov>
Sent: Tuesday, January 27, 2026 8:55 AM
To: Jennifer McConnell <jmcconnell@gmssf.com>
Cc: Innocent, Vanessa (Elections) <Vanessa.Innocent@votemiamidade.gov>; Rabagh-Garcia, Nelfa (Elections)
<Nelfa.Rabagh-Garcia@votemiamidade.gov>; Washington, Yolanda V. (Elections)
<Yolanda.Washington@votemiamidade.gov>
Subject: RE: Verification of Attached Information for Candidate Qualifying
Good morning, Jennifer,
Thank you for reaching out. We have reviewed the document you sent and provided below the direct links to the forms to ensure the most current versions are used:
MD-DE 27 - Acknowledgement for Candidates with the Option to Open a Campaign Account (Miami-Dade County required form)
MD-ED 2 - Receipt of Handbook and the Election Laws of the State of Florida (Miami-Dade County required form)
DS-DE 302NP - Candidate Oath – Nonpartisan Office
CE Form 1 (2025) (To be filed electronically – Candidates will be required to submit a hard copy to the filing officer at the time of qualifying)
Qualifying fee of $25.00 to be made payable to “Miami-Dade County Supervisor of Elections.”
If the candidate is opening a Campaign Account, the following forms will also be required:
DS-DE 9 - Appointment of Campaign Treasurer and Designation of Campaign Depository for Candidates
(only required if opening campaign account to accept donations and make contributions)
DS-DE 84 - Statement of Candidate (only required if opening campaign account to accept donations and make contributions)
MD-ED 10 - Campaign Treasurer’s Report Electronic Filing Requirements for Miami-Dade County (Miami-Dade County required form - Only required if opening campaign account to accept donations and make contributions)

We recommend providing candidates in Miami-Dade County with the direct link to our qualifying package for the 2026 Community Development District Board Member on our website.
Please feel free to share this information with your board members who are up for election or other potential candidates. If any questions arise or further clarification is needed, don’t hesitate to contact me directly or our Candidate Services Section at 305-499-8410.
Thank you for checking in and for ensuring the proper procedures are followed. Best regards,
Sandy Pozo, Campaign Services Section Manager

Oﬃce of the Supervisor of Elections Government Aﬀairs Division
Oﬃce 305-499-8350

Jennifer McConnell 5385 N. Nob Hill Road Sunrise, Florida 33351
Telephone #: 954-721-8681 ext. 203
Fax#: 954-721-9202

January 13, 2026 Board of Supervisors
Pine Isle Community Development District 5385 N. Nob Hill Road
Sunrise, FL 33351

1001 Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We are pleased to confirm our understanding of the services we are to provide Pine Isle Community Development District, Miami-Dade County, Florida (“the District”) for the fiscal year ended September 30, 2026, with an option for ten (10) additional annual renewals. We will audit the financial statements of the governmental activities and each major fund, including the related notes to the financial statements, which collectively comprise the basic financial statements of Pine Isle Community Development District as of and for the fiscal year ended September 30, 2026, with an option for ten (10) additional annual renewals. In addition, we will examine the District’s compliance with the requirements of Section 218.415 Florida Statutes.
Accounting principles generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management’s discussion and analysis (MD&A), to supplement the District’s basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to the District’s RSI in accordance with auditing standards generally accepted in the United States of America. These limited procedures will consist of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We will not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:
Management’s Discussion and Analysis
Budgetary comparison schedule
The following other information accompanying the financial statements will not be subjected to the auditing procedures applied in our audit of the financial statements, and our auditor’s report will not provide an opinion or any assurance on that information:
Compliance with FL Statute 218.39 (3) (c)
Audit Objectives
The objective of our audit is the expression of opinions as to whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the District and other procedures we consider necessary to enable us to express such opinions. We will issue a written report upon completion of our audit of the District’s financial statements. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the financial statements is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
We will also provide a report (that does not include an opinion) on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on internal control and on compliance and other matters will include a paragraph that states (1) that the purpose of the report is solely to describe the scope of testing of internal control and compliance, and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control and compliance. The paragraph will also state that the report is not suitable for any other purpose. If during our audit we become aware that the District is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

Examination Objective
The objective of our examination is the expression of an opinion as to whether the District is in compliance with Florida Statute 218.415 in accordance with Rule 10.556(10) of the Auditor General of the State of Florida. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and will include tests of your records and other procedures we consider necessary to enable us to express such an opinion. We will issue a written report upon completion of our examination of the District’s compliance. The report will include a statement that the report is intended solely for the information and use of management, those charged with governance, and the Florida Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the District’s compliance is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
Other Services
We will assist in preparing the financial statements and related notes of the District in conformity with U.S. generally accepted accounting principles based on information provided by you. These nonaudit services do not constitute an audit under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. The other services are limited to the financial statement services previously defined. We, in our sole professional judgment, reserve the right to refuse to perform any procedure or take any action that could be construed as assuming management responsibilities.
Management Responsibilities
Management is responsible for compliance with Florida Statute 218.415 and will provide us with the information required for the examination. The accuracy and completeness of such information is also management’s responsibility. You agree to assume all management responsibilities relating to the financial statements and related notes and any other nonaudit services we provide. You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the financial statements and related notes prior to their issuance and have accepted responsibility for them. In addition, you will be required to make certain representations regarding compliance with Florida Statute 218.415 in the management representation letter. Further, you agree to oversee the nonaudit services by designating an individual, preferably from senior management, who possesses suitable skill, knowledge, or experience; evaluate the adequacy and results of those services; and accept responsibility for them.
Management is responsible for designing, implementing and maintaining effective internal controls, including evaluating and monitoring ongoing activities, to help ensure that appropriate goals and objectives are met; following laws and regulations; and ensuring that management and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.
Management is also responsible for making all financial records and related information available to us and for the accuracy and completeness of that information. You are also responsible for providing us with (1) access to all information of which you are aware that is relevant to the preparation and fair presentation of the financial statements, (2) additional information that we may request for the purpose of the audit, and (3) unrestricted access to persons within the government from whom we determine it necessary to obtain audit evidence.
Your responsibilities include adjusting the financial statements to correct material misstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.
You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the government involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the government received in communications from employees, former employees, grantors, regulators, or others. In addition, you are responsible for identifying and ensuring that the government complies with applicable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps to remedy fraud and noncompliance with provisions of laws, regulations, contracts or grant agreements, or abuse that we report.
Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations. Management is also responsible for identifying and providing report copies of previous financial audits, attestation engagements, performance audits or other studies related to the objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management’s views on our current findings, conclusions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information.
With regard to the electronic dissemination of audited financial statements, including financial statements published electronically on your website, you understand that electronic sites are a means to distribute information and, therefore, we are not required to read the information contained in these sites or to consider the consistency of other information in the electronic site with the original document.

Audit Procedures—General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or governmental regulations that are attributable to the government or to acts by management or employees acting on behalf of the government. Because the determination of abuse is subjective, Government Auditing Standards do not expect auditors to provide reasonable assurance of detecting abuse.
Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us, even though the audit is properly planned and performed in accordance with U.S. generally accepted auditing standards and Government Auditing Standards. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on the financial statements. Our responsibility as auditors is limited to the period covered by our audit and does not extend to later periods for which we are not engaged as auditors.
Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will require certain written representations from you about your responsibilities for the financial statements; compliance with laws, regulations, contracts, and grant agreements; and other responsibilities required by generally accepted auditing standards.
Audit Procedures—Internal Control
Our audit will include obtaining an understanding of the government and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature, timing, and extent of further audit procedures. Tests of controls may be performed to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material to the financial statements and to preventing and detecting misstatements resulting from illegal acts and other noncompliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal control and, accordingly, no opinion will be expressed in our report on internal control issued pursuant to Government Auditing Standards.
An audit is not designed to provide assurance on internal control or to identify significant deficiencies or material weaknesses. However, during the audit, we will communicate to management and those charged with governance internal control related matters that are required to be communicated under AICPA professional standards and Government Auditing Standards.
Audit Procedures—Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of the District’s compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. However, the objective of our audit will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards.
Engagement Administration, Fees, and Other
We understand that your employees will prepare all cash or other confirmations we request and will locate any documents selected by us for testing.
The audit documentation for this engagement is the property of Grau & Associates and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to a cognizant or oversight agency or its designee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Grau & Associates personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. Notwithstanding the foregoing, the parties acknowledge that various documents reviewed or produced during the conduct of the audit may be public records under Florida law. The District agrees to notify Grau & Associates of any public record request it receives that involves audit documentation.

Furthermore, Grau & Associates agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Auditor acknowledges that the designated public records custodian for the District is the District Manager (“Public Records Custodian”). Among other requirements and to the extent applicable by law, Grau & Associates shall 1) keep and maintain public records required by the District to perform the service; 2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if Auditor does not transfer the records to the Public Records Custodian of the District; and 4) upon completion of the contract, transfer to the District, at no cost, all public records in Grau & Associate’s possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by Grau & Associates, Grau & Associates shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.

•
FlCPA

.AICPA

P@er�view
Program

Florida imtllllt.e of CertJlied Public AJ:countaint!

Administered in Flo dai
by the Florida lns!ilut ,of CPAs

!November 18,, 2025 Antonio Grau
Grau & Assooiates
1001 W. Yamato Rood, Suite 301 Boca Raton, FL 33431-4403

Dear Antonio Grau:

It is my pleaS1ure to oo1ify you that on !November 18, 2025,, the Florida Peer Review Committee aocepteo the report 011 the mosit recent System Review of your firm. The due date for your neXilreview is December 31, 2023. This is the date by which all review dooum.ef1ts shoulld be completed and submitted to the administering entity.
As you know, ttie report had a peer review rating of pass. The Committee asked me to,convey its oongratullations to tti,e firm.

Thank you far your cooperation. Sincerely,

Peer Review Tearn
FtCPA Peer Reviev.rCommittee p0.ull@ficpa.arg
860.224.2727, x.5951

cc: Daniel Hevia, David Caplivski

Firm !Number: 90001l4390114	Review !Number: 616829

119 5 Monrce Street, Suite- 121 I Tallahassee, FL 32.301 I 850,224.2727, in Flor"da I

LAW 01-.FICES
BILLING@COCHRAN
ESTABLISHED 1977

KENNETH W. MORGAN, JR. MICHAEL J. PAWELCZYK MANUEL R. COMRAS ANDREW A. RIEF
JEFFERY R. LAWLEY GINGER E. WALD SCOTT C. COCHRAN
ALINE 0. MARCANTONIO JOHN C. WEBBER

STEVEN F. BILLING (1947-1998) HAYWARD D. GAY (1943-2007)

BILLING COCHRAN, P.A. LAS CLAS SQUARE, SUITE 600 SIS EAST LAS CLAS BOULEVARD
FORT LAUDERDALE, FLORIDA 33301 (954) 764-7150
(954) 764-7279 FAX

PGA NATIONAL OFFICE CENTER
300 AVENUE OF THE CHAMPIONS, SUITE 270 PALM BEACH GARDENS, FLORIDA 3341B
(561) 659-5970
(561) 659-6173 FAX

WWW.BI LL! NGCOCHRAN. COM PLEASE REPLY TO: FORT LAUDERDALE

February 3, 2026

CHRISTINE A. BROWN GABRIELLA A. FERNANDEZ PEREZ
MARLENE E. GONZALEZ LORI B. LEWELLEN LIZA E. SMOKER LUCAS A. WILLIAMS

OF COUNSEL: CLARK J. COCHRAN, JR. SUSAN F. DELEGAL
DENNIS E. LYLES BRUCE M. RAMSEY RICHARDT. WOULFE

VIA E-MAIL ONLY-jduque@gmssf.com Ms. Juliana Duque
District Manager
Governmental Management Services 5385 N. Nob Hill Road
Sunrise, FL 33351

Re:		Adjustment to District Counsel Fee Structure Pine Isle Community Development District Our File: 1094.20163
Dear Juliana:

This firm's current fee structure has been in place since 2020. Although we are certainly mindful of the necessity to keep increases in the District's expenses, including the cost of legal services, to a minimum, it has become necessary for us to adjust our hourly rates effective, October I, 2026, as follows:

Attorneys/Partners:
Attorneys/Associates:

$325.00 per hour
$250.00 per hour

This hourly fee structure will be adjusted on a periodic basis in connection with the District's budget process no later than every third Fiscal Year to reflect changes in the Consumer Price Index published by the U. S. Department of Labor.

Ms. Juliana Duque February 3, 2026
Page 2

Naturally, should you feel you have any questions or require any further information in support of this adjustment you should feel free to contact me at your convenience. As I think you are aware, we very much appreciate the opportunity to serve as District Counsel as well as your courtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.

l

MJP/jmp
cc: Jennifer McConnell, GMS (via email only)

January 2, 2026 Board of Supervisors
Pine Isle Community Development District Attn: District Manager Juliana Duque Governmental Management Services 5385 N Nob Hill Road
Sunrise, FL 33351

Reference:	Pine Isle Community Development District Alvarez Engineers Personnel Billing Rates
Via:	Email Only: jduque@gmssf.com

Dear Board of Supervisors,

In accordance with the terms of the Engineering Agreement, dated February 19, 2021, between Alvarez Engineers, Inc. and the CDD, I would like to respectfully request the Board of Supervisors to consider updating our hourly personnel billing rates and staff classifications to our proposed 2026 rates as shown in the attached table.

With this proposed adjustment, we do not expect to exceed the Engineering budget adopted by the Board of Supervisors for fiscal year 2026.

Please let me know if you have any questions or if you would like to discuss this further. Sincerely,

Juan R. Alvarez, President Alvarez Engineers, Inc.

M:\Accounting\5. Income\Invoices\Invoicing Forms & Procedures\AE - Billing Rates\Billing Rates (2026)\Rate Adjustment Requests\GMS\Juliana Duque\200601 - PI (2026.01.02) Rate Adjustment Letter.Doc

Pine Isle CDD (and Expansion)	
Current 2021 Rates	Proposed 2026 Rates	
Principal	$ 210.00	Principal	$ 240.00	
Chief Engineer	$ 210.00	Chief Engineer	$ 230.00	
		Project Manager	$ 215.00	
Senior Engineer	$ 180.00	Senior Engineer	$ 185.00	
Senior Project Engineer	$ 155.00	Engineer 2	$ 165.00	
Project Manager	$ 155.00			
Project Engineer	$ 135.00	Engineer 1	$ 155.00	
		Electrical Engineer	$ 155.00	
Engineer	$ 130.00	Engineer Intern	$ 140.00	
		Senior Designer	$ 120.00	
Computer Aided Design and Drafter
(CADD)	$ 98.00	CADD/Computer Technician	$ 105.00	
		Senior Engineering Technician	$ 110.00	
Engineering Technician	$ 88.00	Engineering Technician	$ 100.00	
Senior Administrative	$ 86.00	Senior Administrative	$ 95.00	
Administrative	$ 52.00	Administrative	$ 70.00	

Staff Classification	Definition
Principal
Chief Engineer	Professional Engineer with 15+ years of experience Project Manager	Professional Engineer with 10+ years of experience
Senior Engineer	Professional Engineer with 10+ years of experience (production) Engineer 2	Professional Engineer with 5+ years of experience
Engineer 1	Professional Engineer with 0+ years of experience
Electrical Engineer	Electrical Engineer with 2+ years of post-graduate experience Engineer Intern	Entry level with engineering degree; Engineering Intern License Senior Designer	15+ years of design experience, non-registered CADD/Computer Technician	Design and Drafting with 1+ years of experience
Senior Engineering Technician  5+ years of experience
Engineering Technician	Entry level with 0-4 years of experience
Senior Administrative	Degreed executive assistant with 8+ years of experience Administrative	Secretary / Clerical

2

Pine Isle	
COMMUNITY DEVELOPMENT DISTRICT	

Fiscal Year 2026	
Check Register	

12/01/25 - 1/31/26

Date

check #'s

Amount

12/1 - 12/31	232 - 242	$	581,942.11	

1/1 - 1/31	243 - 249	61,322.10	

TOTAL	$643,264.21	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/24/26	PAGE	1
*** CHECK DATES 12/01/2025 - 01/31/2026 ***	PINE ISLE - GENERAL FUND
BANK A PINE ISLE CDD - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/04/25 00001 12/01/25 77	202512 310-51300-34000	*	2,621.50
DEC 25 - MGMT FEES
12/01/25 77	202512 310-51300-35100	*	108.17
DEC 25 - COMPUTER TIME
12/01/25 77	202512 310-51300-31300	*	225.33
DEC 25 - DISSEMINATION
12/01/25 77	202512 310-51300-49500	*	99.17
DEC 25 - WEBSITE ADMIN
12/01/25 77	202512 310-51300-42000	*	2.22
DEC 25 - POSTAGE
12/01/25 77	202512 310-51300-42500	*	.60
DEC 25 - COPIES
GMS-SF, LLC	3,056.99 000232

12/04/25	00017	11/30/25	
		11/30/25	
- - - - - - - -
12/04/25 00012	- - - -
12/02/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - IN94692	202511 310-51300-48000	*	316.34
ACM #1
IN94693	202511 310-51300-48000	*	296.25
RFP AUDIT
MCCLATCHY COMPANY LLC	612.59 000233
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12022025 202512 300-20700-10000	*	60,985.01
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2021	60,985.01 000234
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/04/25 00015 12/02/25 12022025 202512 300-20700-10100	*	11,986.04
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2023	11,986.04 000235
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/25 00003 11/30/25 196363	202511 310-51300-31500	*	986.00
NOV 25 - GENERAL COUNSEL
BILLING COCHRAN, P.A.	986.00 000236
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/25 00012 12/09/25 12092025 202512 300-20700-10000	*	412,707.47
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2021	412,707.47 000237

12/10/25	00015	12/09/25	
- - - - - - - -
12/23/25 00005	- - - -
12/16/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12092025 202512 300-20700-10100	*	81,113.84
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2023	81,113.84 000238
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
9-105-07 202512 310-51300-42000	*	46.25
DELIVERIES THRU 12/8/25
FEDEX	46.25 000239
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00014 12/11/25 3995	202512 310-51300-31200	*	550.00
ARB SR21 THRU 11/22/25
LLS TAX SOLUTIONS INC.	550.00 000240
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/24/26	PAGE	2
*** CHECK DATES 12/01/2025 - 01/31/2026 ***	PINE ISLE - GENERAL FUND
BANK A PINE ISLE CDD - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/23/25 00012 12/23/25 12232025 202512 300-20700-10000	*	8,272.11
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2021	8,272.11 000241
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00015 12/23/25 12232025 202512 300-20700-10100	*	1,625.81

PINE	ISLE CDD - S2023	1,625.81	000242	
- - - - - - - -	- - - - - - -	-	-	- - - - - - - - - - - -	- - - - - - - - -	-	-	-	-	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
1/13/26 00001	1/01/26 78	202601 310-51300-34000	*	2,621.50	
JAN	26	- MGMT FEES	
1/01/26 78	202601 310-51300-35100	*	108.17	
JAN	26	- COMPUTER TIME	
1/01/26 78	202601 310-51300-31300	*	225.33	
JAN	26	- DISSEMINATION	
1/01/26 78	202601 310-51300-49500	*	99.17	
JAN	26	- WEBSITE ADMIN	
1/01/26 78	202601 310-51300-42000	*	1.48	
JAN	26	- POSTAGE	
1/01/26 78	202601 310-51300-42500	*	.15	
JAN	26	- COPIES	

TRANSFER OF TAX RECEIPTS

GMS-SF, LLC	3,055.80 000243
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/13/26 00011	1/05/26 28470	202601 310-51300-32200	*	8,000.00
AUDIT FYE 9/30/2025
GRAU AND ASSOCIATES	8,000.00 000244
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/13/26 00017 12/31/25 IN105436 202512 310-51300-48000	*	818.40
RULES DERM 28
12/31/25 IN105437 202512 310-51300-48000	*	623.84
RULES DERM 35
MCCLATCHY COMPANY LLC	1,442.24 000245
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/13/26 00012	1/12/26 01122026 202601 300-20700-10000	*	16,196.17
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2021	16,196.17 000246
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/13/26 00015	1/12/26 01122026 202601 300-20700-10100	*	3,183.20
TRANSFER OF TAX RECEIPTS
PINE ISLE CDD - S2023	3,183.20 000247
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/13/26 00013 12/24/25 8014679	202512 310-51300-32300	*	4,444.69
S2021 TRUSTEE FEES
U.S. BANK	4,444.69 000248
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/20/26 00019	1/20/26 01202026 202601 300-15100-10000	*	25,000.00
TXFR FUNDS TO OPEN SBA
PINE ISLE CDD	25,000.00 000249
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	643,264.21

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/24/26	PAGE	3
*** CHECK DATES 12/01/2025 - 01/31/2026 ***	PINE ISLE - GENERAL FUND
BANK A PINE ISLE CDD - GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

TOTAL FOR REGISTER	643,264.21

PNIL PINE ISLE CDD	SRINKUS

Pine Isle	
Community Development District	

Unaudited Financial Reporting	
January 31, 2026	

Table of Contents

1

2

3

4

5

6

7 & 8

9

	Balance Sheet

	General Fund

	Debt Service Fund Series 2021

	Debt Service Fund Series 2023

	Capital Project Fund Series 2021

	Capital Project Fund Series 2023

	Month to Month

	Long Term Debt Report

10		Assessment Receipt Schedule

Pine Isle	
Community Development District	
Combined Balance Sheet	
January 31, 2026	

General	Debt Service	Capital Project	Totals	
Fund	Fund	Fund	Governmental Funds	

Assets:	
Cash:	
Operating Account	
Due from General Fund - Series 2021	
Due from General Fund - Series 2023	

$	55,295	
-	
-	

$	-	
-	
-	

$	-	
-	
-	

$	55,295	
-	
-	

Investments:	
State Board of Administration (SBA)	

25,000	-	-	25,000

Investments:	
Series 2021	
Reserve	
Revenue	
Construction	

-	
-	
-	

285,134	
617,826	
-	

-	
-	
848,117	

285,134	
617,826	
848,117	

Series 2023	
Reserve	
Revenue	
Construction	

-	
-	
-	

56,572	
114,710	
-	

-	
-	
17,155	

56,572	
114,710	
17,155	

Total Assets	$	80,295	$	1,074,242	$	865,273	$	2,019,810	
Liabilities:	
Accounts Payable	$	2,481	$	-	$	-	$	2,481	
Due to Debt Service - Series 2021	-	-	-	-	
Due to Debt Service - Series 2023	-	-	-	-	

Total Liabilites	$	2,481	$	-	$	-	$	2,481

Fund Balance:	
Restricted for:	
Debt Service	
Capital Project	
Unassigned	

$	-	
-	
77,814	

$	1,074,242	
-	
-	

$	-	
865,273	
-	

$	1,074,242	
865,273	
77,814	

Total Fund Balances	$	77,814	$	1,074,242	$	865,273	$	2,017,329

Total Liabilities & Fund Balance	$	80,295	$	1,074,242	$	865,273	$	2,019,810	

Pine Isle	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/26	Thru 01/31/26	Variance	

Revenues:		
Special Assessments - Tax Roll	$	89,923	

$	82,443	$	82,443	$	-

Total Revenues	$	89,923	$	82,443	$	82,443	$	-	
Expenditures:					
General & Administrative:					
Engineering	$	5,000	$	1,667	$	-	$	1,667	
Attorney	9,400	3,133	4,263	(1,130)	
Annual Audit	8,000	8,000	8,000	-	
Assessment Administration	2,000	2,000	2,000	-	
Arbitrage Rebate	550	550	550	-	
Dissemination Agent	2,704	901	901	-	
Trustee Fees	8,691	4,445	4,445	-	
Management Fees	31,458	10,486	10,486	-	
Information Technology	1,298	433	433	-	
Website Maintenance	1,190	397	397	-	
Postage & Delivery	500	167	90	76	
Insurance General Liability	7,041	7,041	6,163	878	
Printing & Binding	100	33	1	33	
Legal Advertising	2,000	2,000	2,381	(381)	
Other Current Charges	1,001	334	562	(228)	
Office Supplies	50	17	-	17	
Dues, Licenses & Subscriptions	175	175	175	(1)	
Total General & Administrative	$	81,157	$	41,777	$	40,846	$	931	

Operations & Maintenance

Field Expenditures		
Repairs & Maintenance	$	2,500	
Contingency	6,266	

$	833	
2,089	

$	-	
-	

$	833	
2,089	

Subtotal Field Expenditures	$	8,766	$	2,922	$	-	$	2,922	

Total Expenditures	$	89,923	$	44,699	$	40,846	$	3,853	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	37,744	$	41,597	$	3,853	

Net Change in Fund Balance	$	-	$	37,744	$	41,597	$	3,853	
	
Fund Balance - Beginning	$	-		$	36,217		
	
Fund Balance - Ending	$	-		$	77,814		

Revenues:		
Special Assessments - Tax Roll	$	576,073	
Interest Income	20,000	

	
$	523,454	
6,667	

	
$	523,454	
9,200	

	
$	-	
2,533	

Total Revenues	$  596,073	$	530,120	$  532,653	$	2,533	
Expenditures:		
Interest - 12/15	$	169,228	$	169,228	$	169,228	$	-	
Principal - 12/15	230,000	230,000	230,000	-	
Interest - 06/15	166,497	-	-	-	
Total Expenditures	$  565,725	$	399,228	$  399,228	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	30,348	$	130,892	$	133,425	$	2,533	
Other Financing Sources/(Uses):

Transfer In/(Out)	$	-	

$	-	$

(3,332)

$	(3,332)

Pine Isle	
Community Development District	
Debt Service Fund Series 2021	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Total Other Financing Sources/(Uses)	$	-	$	-	$	(3,332)	$	(3,332)	
		
Net Change in Fund Balance	$	30,348	$	130,892	$  130,093	$	(799)	
		
Fund Balance - Beginning	$	411,711	$	772,868	
		
Fund Balance - Ending	$	442,059	$	902,961	

Revenues:		
Special Assessments - Tax Roll	$	113,222	
Interest Income	2,000	

	
$	102,880	
667	

	
$	102,880	
1,374	

	
$	-	
707	

Total Revenues	$  115,222	$	103,547	$  104,254	$	707	
Expenditures:		
Interest - 12/15	$	42,650	$	42,650	$	42,650	$	-	
Principal - 06/15	25,000	-	-	-	
Interest - 06/15	42,650	-	-	-	
Total Expenditures	$  110,300	$	42,650	$	42,650	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	4,922	$	60,897	$	61,604	$	707	
Other Financing Sources/(Uses):

Transfer In/(Out)	$	-	

$	-	$

(661)	$

(661)

Pine Isle	
Community Development District	
Debt Service Fund Series 2023	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Total Other Financing Sources/(Uses)	$	-	$	-	$	(661)	$	(661)	
		
Net Change in Fund Balance	$	4,922	$	60,897	$	60,943	$	46	
		
Fund Balance - Beginning	$	44,745	$	110,339	
		
Fund Balance - Ending	$	49,667	$	171,282	

Revenues		
Interest Income	$	-	

$	-	$

9,813

$	9,813

Total Revenues	$	-	$	-	$	9,813	$	9,813	
Expenditures:		
Capital Outlay	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	9,813	$	9,813	
Other Financing Sources/(Uses)

Transfer In/(Out)	$	-	

$	-	$

3,332

$	3,332

Pine Isle	
Community Development District	
Capital Projects Fund Series 2021	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Total Other Financing Sources (Uses)	$	-	$	-	$	3,332	$	3,332	

Net Change in Fund Balance	$	-	$	13,145	
		
Fund Balance - Beginning	$	-	$	834,972	
		
Fund Balance - Ending	$	-	$	848,117	

Revenues		
Interest Income	$	-	

$	-	$

194	$

194

Total Revenues	$	-	$	-	$	194	$	194	
Expenditures:		
Capital Outlay	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	194	$	194	
Other Financing Sources/(Uses)

Transfer In/(Out)	$	-	

$	-	$

661	$

661

Pine Isle	
Community Development District	
Capital Projects Fund Series 2023	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Total Other Financing Sources (Uses)	$	-	$	-	$	661	$	661	

Net Change in Fund Balance	$	-	$	855	
		
Fund Balance - Beginning	$	-	$	16,300	
		
Fund Balance - Ending	$	-	$	17,155	

Pine Isle	
Community Development District	
Month to Month	

Revenues:														
Special Assessments - Tax Roll	$	-	$	13,468	$	65,713	$	3,262	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	82,443	

Total Revenues	$	-	$  13,468	$  65,713	$	3,262	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  82,443	

Expenditures:														
General & Administrative:														
Engineering	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Attorney	1,160	986	667	1,450	-	-	-	-	-	-	-	-	4,263	
Annual Audit	-	-	-	8,000	-	-	-	-	-	-	-	-	8,000	
Assessment Administration	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Arbitrage Rebate	-	-	550	-	-	-	-	-	-	-	-	-	550	
Dissemination Agent	225	225	225	225	-	-	-	-	-	-	-	-	901	
Trustee Fees	-	-	4,445	-	-	-	-	-	-	-	-	-	4,445	
Management Fees	2,622	2,622	2,622	2,622	-	-	-	-	-	-	-	-	10,486	
Information Technology	108	108	108	108	-	-	-	-	-	-	-	-	433	
Website Maintenance	99	99	99	99	-	-	-	-	-	-	-	-	397	
Postage & Delivery	1	1	48	40	-	-	-	-	-	-	-	-	90	
Insurance General Liability	6,163	-	-	-	-	-	-	-	-	-	-	-	6,163	
Printing & Binding	-	-	1	0	-	-	-	-	-	-	-	-	1	
Legal Advertising	-	613	1,442	326	-	-	-	-	-	-	-	-	2,381	
Other Current Charges	115	135	158	153	-	-	-	-	-	-	-	-	562	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$  12,669	$	4,789	$  10,365	$  13,023	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  40,846	

Operations & Maintenance

Field Expenditures
Repairs & Maintenance

$	-  $	-  $

-  $	-  $

-  $	-  $

-  $	-  $	-  $	-  $	-  $	-  $	-

Pine Isle	
Community Development District	
Month to Month	

Vortech System Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-
Vortech System Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-

Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	

Total Expenditures	$  12,669	$	4,789	$  10,365	$  13,023	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  40,846	

Excess (Deficiency) of Revenues over Expe	$  (12,669)	$	8,679	$	55,349	$	(9,761)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	41,597	

Net Change in Fund Balance	$ (12,669)	$	8,679	$  55,349	$	(9,761)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  41,597	

Pine Isle	
Community Development District	
Long Term Debt Report	

	

	

	

	

	

	

	

Series 2021, Special Assessment Bonds

Original Bond Issue Amount:	$10,215,000

Term 1:	$1,105,000	
Interest Rate:	2.38%	
Maturity Date:	December 15, 2026

Term 2:	$1,280,000
Interest Rate:	3.00%
Maturity Date:	December 15, 2031

Term 3:	$3,225,000
Interest Rate:	3.25%
Maturity Date:	December 15, 2041

Term 24:	$4,605,000
Interest Rate:	4.00%
Maturity Date:	December 15, 2051

Reserve Fund Definition	50% of Maximum Annual Debt Service Reserve Fund Requirement		$285,134
Reserve Fund Balance	$285,134

Bonds Outstanding - 11/03/21	$10,215,000
Less: Principal Payment - 12/15/22	($195,000)
Less: Principal Payment - 12/15/23	($220,000)
Less: Principal Payment - 12/15/24	($225,000)
Less: Principal Payment - 12/15/25	($230,000)

Current Bonds Outstanding	$9,345,000	

Series 2023, Special Assessment Bonds

Original Bond Issue Amount:	$1,640,000

Term 1:	$190,000	
Interest Rate:	4.50%	
Maturity Date:	June 15, 2030

Term 2:	$600,000
Interest Rate:	5.38%
Maturity Date:	June 15, 2043

Term 3:	$850,000
Interest Rate:	5.50%
Maturity Date:	June 15, 2053

Reserve Fund Definition	50% of Maximum Annual Debt Service Reserve Fund Requirement		$56,572
Reserve Fund Balance	$56,572

Bonds Outstanding - 03/03/23	$1,640,000
Less: Principal Payment - 6/15/24	($25,000)
Less: Principal Payment - 6/15/25	($25,000)

Current Bonds Outstanding	$1,590,000	

Page 9

Pine Isle
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Miami/Dade County Fiscal Year 2026

	Gross Assessments	$	94,655.60	$	606,392.23	$	119,180.79	$	820,228.62	
	Net Assessments	$	89,922.82	$	576,072.62	$	113,221.75	$	665,995.44	
ON ROLL ASSESSMENTS	
allocation in %	
11.54%	
73.93%	
14.53%	
100.00%	

Date	
Gross Amount	Discount/
Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	2021	Debt
Service	2023	Debt
Service	
Total	

11/12/25	
$	1,421.05	
$	56.84	
$	13.64	
$	-	
$	1,350.57	
$	155.86	
$	998.47	
$	196.24	
1,350.57	
11/14/25	31,490.79	1,259.60	302.32	-	29,928.87	3,453.84	22,126.31	4,348.72	29,928.87	
11/15/25	3,103.40	141.14	29.62	-	2,932.64	338.43	2,168.09	426.12	2,932.64	
11/28/25	86,795.54	3,471.73	833.23	-	82,490.58	9,519.54	60,985.01	11,986.04	82,490.59	
12/05/25	587,376.76	23,494.50	5,638.83	-	558,243.43	64,422.12	412,707.47	81,113.84	558,243.43	
12/19/25	11,681.03	378.85	113.02	-	11,189.16	1,291.25	8,272.11	1,625.81	11,189.17	
01/09/26	21,720.12	651.60	210.69	-	20,857.83	2,407.02	15,420.12	3,030.68	20,857.82	
01/09/26	1,093.10	32.79	10.60	-	1,049.71	121.14	776.05	152.52	1,049.71	
01/23/26	-	-	-	733.71	733.71	733.71	-	-	733.71	
02/11/26	39,505.35	790.12	387.14	-	38,328.09	4,423.12	28,335.83	5,569.14	38,328.09	
	-	-	-	-	-	-	-	-	-	
TOTAL	$	784,187.14	$	30,277.17	$	7,539.09	$	733.71	$	747,104.59	$	86,866.03	$	551,789.46	$	108,449.11	$	747,104.60	

95.61%
$	36,041.48

Percent Collected Balance Remaining to Collect

Page 10