Previous studies by Reddy (et. al. 1998) have indicated a strong ocean-atmospheric coupling during the development of tropical cyclone/hurricane activity over The Gulf of Mexico. We extended these investigations to the Tropical Storm barry, which occurred and developed during August 1-6, 2001 over The Gulf of Mexico and made landfall in Florida on August 6, 2001. NOAA GOES Satellite and NDBC Buoy Data for sea surface temperature and meteorological variables including air temperature, wind speed, and sea level pressure were used for computations. The study suggested strong heat flux before and during the formation of the storm with an evidence of 3-5 day oscillation. These findings are in conformity with the previous studies. Heat, momentum, and moisture fluxes will be used with calculations of the Hurricane Predictive Index and the Regression Model for the prediction of the formation and development of Tropical Storm Barry.