HERITAGE SPRINGS
COMMUNITY DEVELOPMENT DISTRICT

AGENDA PACKAGE

AUGUST 20, 2018

Heritage Springs Community Development District

Inframark, Infrastructure Management Services
210 North University Drive, Suite 702 • Coral Springs, Florida 33071
Telephone: (954) 603-0033 • Fax: (954) 345-1292

August 13, 2018

Board of Supervisors
Heritage Springs Community Development District

Dear Board Members:

The regular meeting of the Board of Supervisors of the Heritage Springs Community Development District will be held Monday, August 20, 2018 at 2:30 P.M. at Heritage Springs Community Clubhouse, 11345 Robert Trent Jones Parkway, New Port Richey, Florida. Following is the advance agenda for the meeting:

1.	Roll Call

2.	Consent Agenda

A.	Approval of the Minutes of the May 21, 2018 Meeting
B.	Approval of the Financial Statements

C.	Meeting Schedule for FY 2019
3.	Public Comment on Agenda Items

4.	Public Hearing to Consider the Adoption of the Budget for Fiscal Year 2019 and Levy of Non-Ad Valorem Assessments

A.	Resolution 2018-4 - Annual Appropriation and Adoption of the Budget

B.	Resolution 2018-5 - Levy of Non-Ad Valorem Assessments

5.	Attorney’s Report
6.	Engineer’s Report
7.	Manager’s Report
8.	Maintenance Items
9.	Supervisors’ Requests
10.	Audience Comments
11.	Adjournment

I look forward to seeing you at the meeting. Please call me if you have any questions.

Sincerely,

Andrew P. Mendenhall, PMP Secretary
/ms

cc:	John Vericker	Danny Tyler	Kimberlee DeBosier	Robert Dvorak

Second Order of Business

2A.

1	MINUTES OF MEETING	
2	HERITAGE SPRINGS	
3	COMMUNITY DEVELOPMENT DISTRICT	
4		
5	The regular meeting of the Board of Supervisors of the Heritage Springs	

6	Community Development District was held on Monday, May 21, 2018 at 2:30 p.m. at the

7	Heritage Springs Community Clubhouse, 11345 Robert Trent Jones Parkway, New Port

8	Richey, Florida.

9			
10	Present and constituting a quorum were:		
11			
12	Steve Wertovitch	Chairman	
13	Joe DePompa	Vice Chairman	
14	George Kachavos	Assistant Secretary	
15	Les Elwonger	Supervisor	
16			
17	Also present were:		
18			
19	Andrew Mendenhall	District Manager	
20	Robert Dvorak	District Engineer	
21	Kelly Smith	Pasco County Commission Candidate	
22	Residents		
23			

24	The following is a summary of the minutes and actions taken at the May 21, 2018

25	Heritage Springs Board of Supervisors meeting.

26

27	FIRST ORDER OF BUSINESS	Roll Call

28	Mr. Mendenhall called the meeting to order and noted all Board members are in

29	attendance.

30	SECOND ORDER OF BUSINESS	Consent Agenda		
31				
32	A.Approval of the Minutes of the April 16, 2018 Meeting
33	B.Approval of the Financial Statements

34

35		On  MOTION  by  Mr.  Wertovitch  seconded  by  Mr.			
36		Kachavos,  with  all  in  favor,  the  consent  agenda  was			
37		approved.				
38	THIRD ORDER OF BUSINESS	Public Comment on Agenda Items		
39				
40	None.				
41						

	May 21, 2018	Heritage Springs CDD	
42	FOURTH ORDER OF BUSINESS	Attorney’s Report	
43	None.		
44			
45	FIFTH ORDER OF BUSINESS	Engineer’s Report	
46	   Mr. Dvorak reported on the following:

47	   Reviewed a report identifying options for mitigating pond bank erosion and a

48	range of unit costs.

49	oDiscussion followed on erosion repairs.

50	   The  Environmental  Resource  Permit  (ERP)  for  the  Walstone  Court  sump

51	reconstruction was received from SWFWMD.

52	   Reviewed and discussed a sample pond evaluation report showing project priority

53	schedule, pond evaluation forms, and photo location exhibits.

54	   JMT has been asked by Trinity Preserve to review the permits, plans and

55	calculation them provide an assessment and opinion with respect to erosion areas

56	and the drainage design.

57	oMr. Dvorak inquired if there are potential issues or conflicts prior to

58		performing any services for Trinity Preserve.	
59	o	The consensus of the Board is it would be beneficial for JMT to do the	
60		review.	

61	   Hole 17 Project

62	oThe weir/rock height was discussed.

63	   Mr. Elwonger reported on his observations of the project.

64	oHe has heard complaints/concerns from golfers about having a difficult

65		time hitting the ball from the end of the fairway because the ditch is 10	
66		yards in front of it.	
67	o	Another issue is the size of the riprap used that is not stable and there is a	
68		safety concern.	He spoke with Bill and Roger about putting stakes and	
69		signs up telling people to not go into the rocks.	
70	o	They looked at the possibility of a bridge to access the east island, but it	
71		will be costly.	The second idea was to have a staircase from the golf	
72		bridge down to the island, but the thought was it creates a safety issue.	

2

	May 21, 2018	Heritage Springs CDD	
73	o	Near the west channel there was water on the downside of the weir that	
74		was bubbling up.  The concern is it may cause erosion under the weir.	
75		The thought is it is a drainage pipe from the golf course.	

76	   Mr. Wertovitch addressed an extra charge as they asked BioMass to bring in

77	smaller riprap to fill in along the edges.  The other item they want is along the

78	wetland side of the cart path/bridge there is still a path where the water is going

79	under the bridge to the west and more stone will be added to direct the water

80	toward the weir.

81

82	SIXTH ORDER OF BUSINESS	Manager’s Report

83	A.Distribution of Proposed Budget for FY 2019

84	   Mr. Mendenhall addressed the proposed budget for FY 2019 and outlined the

85	process.

86	B.	Resolution 2018-3 Approving the Budget and Setting the Public		
87				
88		Hearing		
89					
90					
		On  MOTION  by  Mr.  Wertovitch  seconded  by  Mr.			
91		DePompa, with all in favor, Resolution 2018-3 a resolution			
92		of  the  Board  of  Supervisors  of  the  Heritage  Springs			
93		Community Development District approving the budget for			
94		fiscal year 2019 and setting a public hearing thereon			
95		pursuant to Florida law was adopted.			
96	C.	Acceptance of the Fiscal Year 2017 Audit		
97				
98					
99				
		On  MOTION  by  Mr.  Wertovitch  seconded  by  Mr.			
100		Kachavos, with all in favor, the audit for fiscal year ended			
101		September 30, 2017 was accepted.			
102

103	D.Report on the Number of Registered Voters - 2,115

104	   Mr. Mendenhall reported there are 2,115 registered voters.

105

106	SEVENTH ORDER OF BUSINESS	Maintenance Items

107	   Mr. DePompa reviewed the 2018 Maintenance Plan.

108	   Mr. Wertovitch reported on two items be added to the list:

3

May 21, 2018	Heritage Springs CDD

109	oDepression behind 1752 Cadway Court along the canal wall.

110	oA washout on 172-C near Hadleigh Way.

111	EIGHTH ORDER OF BUSINESS	Supervisors’ Requests		
112				
113	   Mr. Wertovitch reported the Walstone Court project for installation of electrical

114	service is $11,635 - Mike Curry.

115		
116	On  MOTION  by  Mr.  Wertovitch  seconded  by  Mr.	
117	Kachavos, with all in favor, the Walstone Court electrical	
118	installation at a cost of $11,635 was approved.	
119		

120	   Mr. Elwonger reported he and Mr. McEwan met with Blue Works to check the

121	storm drains on northeast Winding Willow.

122	   Mr. Elwonger noted the Roads and Common Grounds Committee is requesting a

123	list of all areas receiving flooding. He put together a list of the ones he knew and

124	provided it to Mr. McEwan to review.

125	oMr. Wertovitch volunteered to do a presentation for the HOA of the

126			flooding issues within Heritage Springs.		
127	NINTH ORDER OF BUSINESS	Audience Comments		
128				
129		A.	Kelly Smith, Pasco County Commission Candidate		
130		Mr.	Wertovitch  introduced	Ms.  Smith  noting  she  is  running  County		

131	Commissioner in District 2.

132	   Ms. Smith outlined her background in land use and zoning.

133	   Ms. Smith took questions and comments from the audience.

134	   Mr. Ira Kahn addressed the berm behind his home on Sweet Jasmine Drive and

135	inquired if it is a CDD responsibility.

136	oMr. Wertovitch noted it was graded by the developers and over the years

137	the ground has moved. If it becomes severe the CDD will get involved.

138	   Mr. Ed Reeser, Lake Forest Estates, thanked Mr. Elwonger and Mr. McEwan for

139	looking at Winding Willow.

140	   Discussion followed on flooding.

141
142

4

	May 21, 2018	Heritage Springs CDD		
143	TENTH ORDER OF BUSINESS	Adjournment		
144						
145					
		On  MOTION  by  Mr.  Wertovitch  seconded  by  Mr.			
146		Elwonger, with all in favor, the meeting was adjourned.			
147						
148						
149						
150			____________________________		
151			Steve Wertovitch		
152			Chairman		

5

2B.

Heritage Springs

Community Development District

Financial Report

July 31, 2018

Prepared by

HERITAGE SPRINGS

Community Development District

Table of Contents

FINANCIAL STATEMENTS			
Balance Sheet - All Funds	………………………………………………….	Page 1	
Statement of Revenues, Expenditures and Changes in Fund Balances		
General Fund	………………………………………………….	Page 2	
Debt Service Fund(s)	………………………………………………….	Page 3 - 4	
SUPPORTING SCHEDULES			
Non-Ad Valorem Special Assessments	………………………………………………….	Page 5	
Investment and Cash Balance Report	………………………………………………….	Page 6	
SunTrust Bank Reconciliation	………………………………………………….	Page 7	
Check Register	………………………………………………….	Page 8 - 9	

Heritage Springs

Community Development District

Financial Statements

(Unaudited)

July 31, 2018

HERITAGE SPRINGS

Community Development District									Governmental Funds		
		Balance Sheet									
			July 31, 2018									
								SERIES	SERIES 2008					
										DEBT					
			GENERAL	2006 DEBT		SERVICE					
				SERVICE		FUND		TOTAL		
	ACCOUNT DESCRIPTION			FUND		FUND	(REFUNDING)				
	ASSETS														
	Cash - Checking Account	$	80,506			$	-	$	-	$	80,506			
	Due From Other Funds			-				17,098		11,402		28,500			
	Investments:														
	Certificates of Deposit - 18 Months			100,385				-		-		100,385			
	Money Market Account			976,469				-		-		976,469			
	Redemption Fund			-				-		1		1			
	Reserve Fund			-				64,938		8,888		73,826			
	Revenue Fund			-				53,163		29,566		82,729			
														
	TOTAL ASSETS	$	1,157,360			$	135,199	$	49,857	$	1,342,416			
															
	LIABILITIES														
	Accounts Payable	$	13,771			$	-	$	-	$	13,771			
	Accrued Expenses			2,900				-		-		2,900			
	Due To Other Funds			28,500				-		-		28,500			
															
	TOTAL LIABILITIES			45,171				-		-		45,171			
	FUND BALANCES														
	Restricted for:														
	Debt Service			-				135,199		49,857		185,056			
	Assigned to:														
	Operating Reserves			85,702				-		-		85,702			
	Reserves - Ponds			793,293				-		-		793,293			
	Unassigned:			233,194				-		-		233,194			
														
	TOTAL FUND BALANCES	$	1,112,189			$	135,199	$	49,857	$	1,297,245			
														
	TOTAL LIABILITIES & FUND BALANCES	$	1,157,360			$	135,199	$	49,857	$	1,342,416			

Report Date: 8/2/2018	Page 1

HERITAGE SPRINGS

Community Development District											General Fund		
	Statement of Revenues, Expenditures and Changes in Fund Balances						
	For the Period Ending July 31, 2018								
				ANNUAL					YTD ACTUAL						
	ACCOUNT DESCRIPTION			ADOPTED		YEAR TO DATE		AS A % OF			JUL-18		
				BUDGET			ACTUAL		ADOPTED BUD			ACTUAL		
	REVENUES														
	Interest - Investments	$	4,000	$	9,237	230.93%	$	958			
	Special Assmnts- Tax Collector			399,428			399,429	100.00%			-			
	Special Assmnts- Discounts			(15,977)			(14,996)	93.86%			-			
														
	TOTAL REVENUES			387,451			393,670	101.61%			958			
	EXPENDITURES														
	Administration														
	P/R-Board of Supervisors			9,000			6,400	71.11%			-			
	FICA Taxes			689			490	71.12%			-			
	ProfServ-Dissemination Agent			1,000			-	0.00%			-			
	ProfServ-Engineering			46,000			42,555	92.51%			-			
	ProfServ-Legal Services			5,000			3,529	70.58%			-			
	ProfServ-Mgmt Consulting Serv			35,874			29,895	83.33%			2,990			
	ProfServ-Property Appraiser			150			150	100.00%			-			
	ProfServ-Special Assessment			7,500			7,500	100.00%			-			
	ProfServ-Trustee Fees			8,674			8,674	100.00%			-			
	ProfServ-Web Site Maintenance			750			750	100.00%			-			
	Auditing Services			5,500			5,500	100.00%			-			
	Postage and Freight			400			387	96.75%			18			
	Insurance - General Liability			5,242			5,011	95.59%			-			
	Printing and Binding			1,250			310	24.80%			6			
	Legal Advertising			2,100			204	9.71%			-			
	Miscellaneous Services			600			471	78.50%			48			
	Misc-Assessmnt Collection Cost			7,989			7,689	96.24%			-			
	Office Supplies			175			176	100.57%			-			
	Annual District Filing Fee			175			175		100.00%			-			
	Total Administration			138,068			119,866	86.82%			3,062			
	Field														
	Contracts-Lakes			40,000			29,000	72.50%			2,900			
	Electricity - Streetlighting			60,000			46,242	77.07%			2,523			
	R&M-Aquascaping			5,000			-	0.00%			-			
	R&M-Ponds			75,000			57,112	76.15%			-			
	R&M-Stormwater System			15,000			14,466	96.44%			-			
	Misc-Contingency			10,000			12,194	121.94%			-			
	Reserve - Ponds			44,383			5,882		13.25%			5,882			
	Total Field			249,383			164,896		66.12%			11,305			
														
	TOTAL EXPENDITURES			387,451			284,762	73.50%			14,367			
	Net change in fund balance	$	-	$	108,908	0.00%	$	(13,409)			
	FUND BALANCE, BEGINNING (OCT 1, 2017)			1,003,281			1,003,281								
	FUND BALANCE, ENDING	$	1,003,281	$	1,112,189								
	Report Date: 8/2/2018											Page 2		

HERITAGE SPRINGS

Community Development District	Series 2006 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances

For the Period Ending July 31, 2018

			ANNUAL					YTD ACTUAL					
ACCOUNT DESCRIPTION			ADOPTED		YEAR TO DATE		AS A % OF			JUL-18		
			BUDGET			ACTUAL		ADOPTED BUD			ACTUAL		
REVENUES													
Interest - Investments	$	-	$	288	0.00%	$	25		
Special Assmnts- Tax Collector			141,027			141,027	100.00%			-		
Special Assmnts- Discounts			(5,641)			(5,295)	93.87%			-		
												
TOTAL REVENUES			135,386			136,020	100.47%			25		
EXPENDITURES													
Administration													
Misc-Assessmnt Collection Cost			2,821			2,715		96.24%			-		
Total Administration			2,821			2,715	96.24%			-		
Debt Service													
Debt Retirement Series A			85,000			85,000	100.00%			-		
Interest Expense Series A			46,988			46,988		100.00%			-		
Total Debt Service			131,988			131,988		100.00%			-		
												
TOTAL EXPENDITURES			134,809			134,703	99.92%			-		
Excess (deficiency) of revenues													
Over (under) expenditures			577			1,317	0.00%			25		
OTHER FINANCING SOURCES (USES)													
Contribution to (Use of) Fund Balance			577			-	0.00%			-		
												
TOTAL FINANCING SOURCES (USES)			577			-	0.00%			-		
Net change in fund balance	$	577	$	1,317	0.00%	$	25		
FUND BALANCE, BEGINNING (OCT 1, 2017)			133,882			133,882							
FUND BALANCE, ENDING	$	134,459	$	135,199							

Report Date: 8/2/2018	Page 3

HERITAGE SPRINGS

Community Development District	Series 2008 Debt Service Fund (Refunding)

Statement of Revenues, Expenditures and Changes in Fund Balances

For the Period Ending July 31, 2018

			ANNUAL					YTD ACTUAL					
ACCOUNT DESCRIPTION			ADOPTED		YEAR TO DATE		AS A % OF			JUL-18		
			BUDGET			ACTUAL		ADOPTED BUD			ACTUAL		
REVENUES													
Interest - Investments	$	-	$	186	0.00%	$	16		
Special Assmnts- Tax Collector			94,045			94,045	100.00%			-		
Special Assmnts- Discounts			(3,762)			(3,531)	93.86%			-		
												
TOTAL REVENUES			90,283			90,700	100.46%			16		
EXPENDITURES													
Administration													
Misc-Assessmnt Collection Cost			1,881			1,810		96.23%			-		
Total Administration			1,881			1,810	96.23%			-		
Debt Service													
Principal Debt Retirement			75,000			75,000	100.00%			-		
Interest Expense			15,026			15,026		100.00%			-		
Total Debt Service			90,026			90,026		100.00%			-		
												
TOTAL EXPENDITURES			91,907			91,836	99.92%			-		
Excess (deficiency) of revenues													
Over (under) expenditures			(1,624)			(1,136)	0.00%			16		
OTHER FINANCING SOURCES (USES)													
Contribution to (Use of) Fund Balance			(1,624)			-	0.00%			-		
												
TOTAL FINANCING SOURCES (USES)			(1,624)			-	0.00%			-		
Net change in fund balance	$	(1,624)	$	(1,136)	0.00%	$	16		
FUND BALANCE, BEGINNING (OCT 1, 2017)			50,993			50,993							
FUND BALANCE, ENDING	$	49,369	$	49,857							

Report Date: 8/2/2018	Page 4

Heritage Springs

Community Development District

Supporting Schedules

July 31, 2018

HERITAGE SPRINGS

Community Development District

Non-Ad Valorem Special Assessments - Pasco County Tax Collector

(Monthly Collection Distributions)

For the Fiscal Year Ending September 30, 2018

										ALLOCATION BY FUND		
				Discount /				Gross							
Date	Net Amount		(Penalties)	Collection		Amount		General	Series 2006	Series 2008	
Received		Received		Amount		Costs		Received		Fund	Debt Service	Debt Service	
Assessments Levied					$	634,501	$	399,429	$	141,027	$	94,045	
Allocation %								100%		63%		22%		15%	
11/10/17	$	14,484	$	783	$	296	$	15,563	$	9,797	$	3,459	$	2,307	
11/22/17		117,331		4,988		2,395		124,714		78,509		27,719		18,485	
12/05/17		138,345		5,879		2,823		147,047		92,569		32,683		21,795	
12/08/17		88,473		3,761		1,806		94,040		59,199		20,902		13,938	
12/15/17		162,910		6,926		3,325		173,161		109,007		38,487		25,666	
12/29/17		17,550		614		358		18,522		11,660		4,117		2,745	
01/11/18		19,990		631		408		21,028		13,238		4,674		3,117	
02/13/18		14,396		323		294		15,013		9,451		3,337		2,225	
03/13/18		3,488		41		71		3,600		2,266		800		534	
04/12/18		16,057		5		328		16,390		10,318		3,643		2,429	
05/10/18		3,026		(59)		62		3,029		1,907		673		449	
06/08/18		943		(28)		19		935		588		208		139	
06/15/15		1,476		(44)		30		1,462		920		325		217	
TOTAL	$	598,466	$	23,821	$	12,214	$	634,501	$	399,429	$	141,027	$	94,045	

% COLLECTED							100%		100%		100%		100%	
													
TOTAL OUTSTANDING					$	(0)	$	(0)	$	(0)	$	(0)	

Pasco County Postage Billing	$	119		
Total Collection Costs				
	$	12,333		

Report Date: 7/27/2018	Page 5

HERITAGE SPRINGS

Community Development District

Cash and Investment Report

July 31, 2018

General Fund

Account Name	Bank Name	Investment Type	Maturity	Yield		Balance		
Checking Acct - Operating	SunTrust Bank	Public Funds NOW	n/a	1.43%	$	80,506	(1)	
CD #4194	BankUnited	18 mo Fixed Rate CD	12/01/18	1.20%		100,385		
Public Funds Money Market	Bank United	MMA - #0143	n/a	1.00%		976,469	(2)	
				GF Total	$	1,157,360		

Debt Service Funds

Account Name	Bank Name	Investment Type		Maturity	Yield		Balance		
Series 2006 Reserve Fund	US Bank	US Bank Open-End CP	10/1/2018	0.00%	$	64,938		
Series 2006 Revenue Fund	US Bank	US Bank Open-End CP	10/1/2018	0.00%		53,163		
					DS 202 subtotal		118,101		
Series 2008A	Redemption	US Bank	US Bank Open-End CP	10/1/2018	0.00%		1		
Series 2008A	Debt Svc Rsrv	US Bank	Government Obligation Fund		n/a	0.00%		8,888		
Series 2008A	Revenue Fund	US Bank	US Bank Open-End CP	10/1/2018	0.00%		29,566		
					DS 203 subtotal		38,455		
						DS Total	$	156,556		
				Total Cash & Investments				
					$	1,313,916		

(1)	8/2/18 - $28,500 transferred to US Bank debt service accounts.

(2)	8/2/18 - $100,000 transferred to SunTrust operating account.

Report Date: 8/2/2018	Page 6

Heritage Springs CDD

Bank Reconciliation

Bank Account No.	1900	SunTrust Bank N.A. - GF	
Statement No.	07-18		
Statement Date	7/31/2018		

G/L Balance (LCY)	80,505.74	Statement Balance	86,890.74					
	G/L Balance	80,505.74	Outstanding Deposits	0.00					
Positive Adjustments	0.00	Subtotal						
			86,890.74					

	Subtotal	80,505.74	Outstanding Checks	6,385.00					
Negative Adjustments	0.00	Differences	0.00					
Ending G/L Balance		Ending Balance						
									
	80,505.74		80,505.74					
	Difference	0.00							
Posting	Document	Document	Description	Amount	Cleared	Difference		
Date	Type	No.			Amount			
Outstanding Checks									
6/21/2018	Payment	002091	MIKE CURRIE ELECTRIC INC	6,385.00	0.00	6,385.00		
Total Outstanding Checks......................................................................................................................		6,385.00		6,385.00		

Page 7

					HERITAGE SPRINGS					
					Community Development District					
												
					Payment Register by Bank Account					
					For the Period from 5/1/18 to 7/31/18					
						(Sorted by Check / ACH No.)					
												
Pymt	Check /	Date	Payee	Payee		Invoice No.	Payment Description	Invoice / GL Description	G/L Account #	Amount		
Type	ACH No.		Type							Paid		

BANK UNITED - MMA - (ACCT# XXXXX0143)								
Check	1001	06/18/18	Vendor	HERITAGE SPRINGS CDD	061418-0143	REPLENISH SUNTRUST ACCOUNT	Cash In Bank	101000	$100,000.00		
									Account Total			
										$100,000.00		

SUNTRUST BANK N.A. - GF - (ACCT# XXXXX1900)

Check	002071	05/08/18	Vendor	FEDEX	6-161-12073	
Check	002072	05/08/18	Vendor	GRAU & COMPANY, PA	16558	
Check	002073	05/08/18	Vendor	JMT	24-118393	
Check	002074	05/22/18	Employee	STEVEN WERTOVITCH	PAYROLL	
Check	002075	05/22/18	Employee	JOSEPH V. DE POMPA	PAYROLL	
Check	002076	05/22/18	Employee	GEORGE KACHAVOS	PAYROLL	
Check	002077	05/22/18	Employee	LESLIE C. ELWONGER	PAYROLL	
Check	002078	05/23/18	Vendor	HERITAGE SPRINGS ASSOCIATION, INC	050218	
Check	002079	05/23/18	Vendor	JOHN A. MARTIN	050218	
Check	002080	05/23/18	Vendor	ROBERT R. STRACK AND GEORGIA A. STRACK	050218	
Check	002081	05/29/18	Vendor	JMT	25-119401	
Check	002082	05/31/18	Vendor	BIOMASS TECH	1778	
Check	002082	05/31/18	Vendor	BIOMASS TECH	1777	
Check	002082	05/31/18	Vendor	BIOMASS TECH	1776	
Check	002083	05/31/18	Vendor	FEDEX	6-189-55395	
Check	002084	06/07/18	Vendor	FEDEX	6-197-03635	
Check	002085	06/12/18	Vendor	BLUE WATER AQUATICS, INC	23906	
Check	002086	06/12/18	Vendor	INFRAMARK, LLC	30708	
Check	002086	06/12/18	Vendor	INFRAMARK, LLC	30708	
Check	002086	06/12/18	Vendor	INFRAMARK, LLC	30708	
Check	002086	06/12/18	Vendor	INFRAMARK, LLC	30708	
Check	002087	06/12/18	Vendor	STRALEY ROBIN VERICKER	15756	
Check	002088	06/12/18	Vendor	TIMES PUBLISHING COMPANY	642779	
Check	002089	06/14/18	Vendor	PASCO COUNTY PROPERTY APPRAISER	050118	
Check	002090	06/21/18	Vendor	BLUE WATER AQUATICS, INC	23746	
Check	002090	06/21/18	Vendor	BLUE WATER AQUATICS, INC	23963	

4/18/18 POSTAGE	Postage and Freight	001-541006-51301	$11.29	
2017 AUDIT SERVICES	Auditing Services	001-532002-51301	$5,500.00	
2/25-3/31/18 ENGINEERING	ProfServ-Engineering	001-531013-51501	$4,255.00	
May 22, 2018 Payroll Posting			$184.70	
May 22, 2018 Payroll Posting			$184.70	
May 22, 2018 Payroll Posting			$184.70	
May 22, 2018 Payroll Posting			$154.70	
UTILITY EASEMENT	Miscellaneous Services	001-549001-51301	$1.00	
UTILITY EASEMENT/walstone ct	Miscellaneous Services	001-549001-51301	$1.00	
UTILITY EASEMENT/walstone ct	Miscellaneous Services	001-549001-51301	$1.00	
APR GEN ENGNEER/grading proj	ProfServ-Engineering	001-531013-51501	$5,870.00	
BRIDGE RCP PIPE RPR/POND 171C	R&M-Ponds	001-546073-53901	$7,397.13	
CLB HSE SUMP WEIR 152-A RPRD	R&M-Ponds	001-546073-53901	$3,489.00	
RTJ POND 171-C EVALUATION	R&M-Ponds	001-546073-53901	$2,543.09	
POSTAGE 05/14/18	Postage and Freight	001-541006-51301	$12.91	
POSTAGE 5/22/18	Postage and Freight	001-541006-51301	$11.42	
5/4/18 AQUATIC SERVICE	Contracts-Lakes	001-534084-53901	$2,900.00	
5/18 MGMT FEE/RMVD WEB FEE	ProfServ-Mgmt Consulting	001-531027-51201	$2,989.50	
5/18 MGMT FEE/RMVD WEB FEE	Postage and Freight	001-541006-51301	$4.23	
5/18 MGMT FEE/RMVD WEB FEE	Printing and Binding	001-547001-51301	$50.25	
5/18 MGMT FEE/RMVD WEB FEE	Office Supplies	001-551002-51301	$27.50	
04/17-05/15/18 GEN COUNSEL	ProfServ-Legal Services	001-531023-51401	$202.20	
QUALIFYING PRD FOR CANDIDATES	Legal Advertising	001-548002-51301	$96.50	
NON-AD VALOREM FEES FY18	ProfServ-Property Appraiser	001-531035-51301	$150.00	
4/2/18 AQUATIC SERVICES	Contracts-Lakes	001-534084-53901	$2,900.00	
6/13 & 6/19/18 AQUATIC SERVICE	Contracts-Lakes	001-534084-53901	$2,900.00	

Page 8

					HERITAGE SPRINGS					
					Community Development District					
												
					Payment Register by Bank Account					
					For the Period from 5/1/18 to 7/31/18					
						(Sorted by Check / ACH No.)						
													
Pymt	Check /	Date	Payee	Payee		Invoice No.		Payment Description	Invoice / GL Description	G/L Account #	Amount		
Type	ACH No.		Type								Paid		

Check	002091	06/21/18	Vendor	MIKE CURRIE ELECTRIC INC	2979-14913	
Check	002092	06/21/18	Vendor	STRALEY ROBIN VERICKER	15617	
Check	002093	06/29/18	Vendor	FLORIDA UNDERGROUND SPECIALISTS, INC	MCE-005UG	
Check	002094	07/05/18	Vendor	INFRAMARK, LLC	31551	
Check	002094	07/05/18	Vendor	INFRAMARK, LLC	31551	
Check	002094	07/05/18	Vendor	INFRAMARK, LLC	31551	
Check	002094	07/05/18	Vendor	INFRAMARK, LLC	31551	
Check	002095	07/05/18	Vendor	JMT	26-121315	
Check	002096	07/05/18	Vendor	BIOMASS TECH	1783 A	
Check	002097	07/05/18	Vendor	FEDEX	6-226-38704	
Check	002098	07/05/18	Vendor	STRALEY ROBIN VERICKER	15852	
Check	002099	07/05/18	Vendor	US BANK	5032045	
Check	002100	07/12/18	Vendor	FEDEX	6-232-82511	
Check	002101	07/17/18	Vendor	J BATES CONCRETE CONSTRUCTION, INC	1915	
Check	002102	07/17/18	Vendor	STEVE WERTOVICH	071118	
Check	002103	07/19/18	Vendor	JMT	27-122412	
ACH	DD118	05/07/18	Vendor	DUKE ENERGY - ACH	041318-45492 ACH	
ACH	DD119	06/05/18	Vendor	DUKE ENERGY - ACH	050418-45492-ACH	
ACH	DD120	07/05/18	Vendor	DUKE ENERGY - ACH	061318-45492 ACH	

Wallstone:60AMP/WTHRPROOF GFI	Misc-Contingency	001-549900-53901	$6,385.00	
3/22-4/15/18 LEGAL SVCS	ProfServ-Legal Services	001-531023-51401	$799.43	
Walstone Ct/CONDUIT ELEC REPRS	Misc-Contingency	001-549900-53901	$5,250.00	
6/18 MANAGEMENT FEES	ProfServ-Mgmt Consulting	001-531027-51201	$2,989.50	
6/18 MANAGEMENT FEES	Postage and Freight	001-541006-51301	$6.27	
6/18 MANAGEMENT FEES	Printing and Binding	001-547001-51301	$64.20	
6/18 MANAGEMENT FEES	Office Supplies	001-551002-51301	$27.50	
4/29-5/26/18 ENGINEERING	ProfServ-Engineering	001-531013-51501	$2,675.00	
HOLE 17 WEIR IMPROVEMENTS	R&M-Ponds	001-546073-53901	$43,682.95	
POSTAGE 06/14/18	Postage and Freight	001-541006-51301	$12.89	
5/20-6/15/18 LEGAL SVCS	ProfServ-Legal Services	001-531023-51401	$110.00	
SER 2008 6/1/18-5/31/19	ProfServ-Trustee Fees	001-531045-51301	$4,336.94	
POSTAGE 6/27/2018	Postage and Freight	001-541006-51301	$12.91	
SIDEWALK REPRS	Misc-Contingency	001-549900-53901	$546.25	
REIMB GAS 6/30/18	Misc-Contingency	001-549900-53901	$12.39	
5/27-6/30/18 GEN ENGINEERING	ProfServ-Engineering	001-531013-51501	$1,105.00	
3/14-4/13/18 ELEC>ACH 5/7	Electricity - Streetlighting	001-543013-53901	$4,870.39	
4/13-5/14/18 ELEC ACH	Electricity - Streetlighting	001-543013-53901	$4,870.39	
5/14-6/13/18 ELEC>ACH 7/5	Electricity - Streetlighting	001-543013-53901	$4,870.39	

	Account Total	$124,649.22	

	Total Amount Paid	$224,649.22	

Total Amount Paid - Breakdown by Fund

Fund	Amount	
General Fund Fund - 001	224,649.22	
		
Total	224,649.22	

Page 9

2C.

Notice of Meetings
Heritage Springs
Community Development District

The Board of Supervisors of the Heritage Springs Community Development District will hold their meetings for Fiscal Year 2019 in the auditorium of the Heritage Springs Community Clubhouse, 11345 Robert Trent Jones Parkway, New Port Richey, Florida 34655 on the third Monday of the following months at 2:30 p.m. (unless otherwise specified below) as follows:

October 15, 2018
November 19, 2018
January 21, 2019
February 18, 2019
April 15, 2019
May 20, 2019
August 19, 2019

There may be occasions when one or more Supervisors will participate by telephone. The meeting may be continued to a date, time, and place to be specified on the record at the meeting.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Management Company, Inframark, Infrastructure Management Services at (954) 603- 0033. If you are hearing or speech impaired, please contact the Florida Relay Service at 7-1-1 or (800) 955 -8770 for aid in contacting the District Office at least two (2) days prior to the date of the hearing and meeting.

Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

Andrew Mendenhall, PMP
Manager

Fourth Order of Business

HERITAGE SPRINGS

Community Development District

Annual Operating and Debt Service Budget

Fiscal Year 2019

Version 1.1 - Modified Approved Budget

(Approved at May 21, 2018 Meeting)

Prepared by:

HERITAGE SPRINGS

Community Development District

Table of Contents

	Page #	
OPERATING BUDGET		
General Fund		
Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..	1	
Budget Narrative ……………………………………………………………………………………………	2-4	
Exhibit A - Allocation of Fund Balances ………………………………………………………………….	5	
DEBT SERVICE BUDGETS		
Series 2006		
Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..	6	
Amortization Schedule ……………………………………………………………………………………..	7	
Series 2008		
Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..	8	
Amortization Schedule ……………………………………………………………………………………..	9	
SUPPORTING BUDGET SCHEDULES		
2018-2019 Non-Ad Valorem Assessment Summary ………………………………………………………..	10	

Heritage Springs

Community Development District

Operating Budget

Fiscal Year 2019

HERITAGE SPRINGS

Community Development District															General Fund	
	Summary of Revenues, Expenditures and Changes in Fund Balances					
					Fiscal Year 2019 Proposed Budget										
								ADOPTED			ACTUAL	PROJECTED			TOTAL			ANNUAL	
					ACTUAL			BUDGET			THRU		AUG -		PROJECTED			BUDGET	
	ACCOUNT DESCRIPTION				FY 2017			FY 2018			JUL-2018				SEP-2018			FY 2018			FY 2019		
	REVENUES																				
	Interest - Investments	$	8,223	$	4,000	$	9,237			$	1,582	$	10,819	$	4,000		
	Special Assmnts- Tax Collector		399,429			399,428			399,429				-			399,429			399,429		
	Special Assmnts- Discounts		(14,921)			(15,977)			(14,996)				-			(14,996)			(15,977)		
																					
	TOTAL REVENUES		392,731			387,451			393,670				1,582			395,252			387,452		
	EXPENDITURES																				
	Administrative																				
	P/R-Board of Supervisors		6,600			9,000			6,400				1,000			7,400			9,000		
	FICA Taxes		505			689			490				77			567			689		
	ProfServ-Dissemination Agent		1,000			1,000			-				1,000			1,000			1,000		
	ProfServ-Engineering		51,860			46,000			42,555				10,500			53,055			55,000		
	ProfServ-Legal Services		4,072			5,000			3,529				1,307			4,836			5,000		
	ProfServ-Mgmt Consulting Serv		35,874			35,874			29,895				5,979			35,874			35,874		
	ProfServ-Property Appraiser		150			150			150				-			150			150		
	ProfServ-Special Assessment		7,500			7,500			7,500				-			7,500			7,500		
	ProfServ-Trustee		8,674			8,674			8,674				-			8,674			8,674		
	ProfServ-Web Site Maintenance		750			750			750				-			750			750		
	Auditing Services		5,546			5,500			5,500				-			5,500			5,500		
	Postage and Freight		211			400			387				77			464			400		
	Insurance - General Liability		4,765			5,242			5,011				-			5,011			5,512		
	Printing and Binding		333			1,250			310				62			372			1,000		
	Legal Advertising		1,705			2,100			204				1,501			1,705			1,800		
	Miscellaneous Services		586			600			471				96			567			600		
	Misc-Assessmnt Collection Cost		7,103			7,989			7,689				-			7,689			7,989		
	Office Supplies		182			175			176				44			220			175		
	Annual District Filing Fee		175			175			175				-			175			175		
																						
	Total Administrative			137,591			138,068			119,866				21,643			141,509			146,788		
	Field																				
	Contracts-Lakes		34,800			40,000			29,000				5,800			34,800			40,000		
	Electricity - Streetlighting		53,376			60,000			46,242				9,749			55,991			60,000		
	R&M-Aquascaping		4,088			5,000			-				5,000			5,000			5,000		
	R&M-Ponds		118,457			75,000			57,112				17,888			75,000			75,000		
	R&M-Stormwater System		36,514			15,000			14,466				534			15,000			15,000		
	Misc-Contingency		247			10,000			12,194				-			12,194			10,000		
	Reserve - Ponds		-			44,383			5,882				-			5,882			35,664		
																						
	Total Field			247,482			249,383			164,896				38,971			203,867			240,664		
																					
	TOTAL EXPENDITURES		385,073			387,451			284,762				60,614			345,376			387,452		
	Net change in fund balance			7,658			-			108,908				(59,032)			49,876			-		
	FUND BALANCE, BEGINNING		995,623			1,003,281			1,003,281				-			1,003,281			1,053,157		
	FUND BALANCE, ENDING	$ 1,003,281	$ 1,003,281	$ 1,112,189			$	(59,032)	$ 1,053,157	$ 1,053,157		

Annual Operating and Debt Service Budget	Page 1		
Fiscal Year 2019			

Heritage Springs
Community Development District	General Fund

Budget Narrative

Fiscal Year 2019

REVENUES:

Interest Income - Investments
The District earns interest on the monthly average collected balance for their operating accounts.

Special Assessments –Tax Collector

The District will levy a non-ad valorem special assessment on all platted lots within Heritage Springs Community Development District in order to pay operating and maintenance expenses for the Fiscal Year.

Special Assessment – Discount

Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

________________________

EXPENDITURES:

Administrative:

P/R- Board of Supervisors & FICA Taxes

Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated $200 per meeting, not to exceed $4,800 per year per supervisor.

Profserv-Dissemination Agent

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b) (5), which relates to additional reporting requirements for unrelated bond issues. The District has contracted for this service and the amount is based on the contracted amount.

Profserv - Engineering

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Profserv – Legal Services

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Profserv - Management Consulting Services

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark.

Profserv - Property Appraiser

The District contracts with the Pasco County Property Appraiser for the purpose of placing the District’s non-ad valorem tax assessments on the Notice of Proposed Property Taxes, thereby allowing the Tax

Collector to collect such assessments. The District will fund the Property Appraiser’s general budget in the amount of $150 for the annual inclusion of Notice of Proposed Property Taxes.

Annual Operating and Debt Service Budget	Page 2	
Fiscal Year 2019		

Heritage Springs
Community Development District	General Fund

Budget Narrative

Fiscal Year 2019

Profserv - Special Assessment

The District has contracted with Inframark to prepare the assessment roll for the District. This includes collection of prepaid assessments, maintaining the assessment roll and annually levying a non- ad valorem assessment for operating and debt service expenses.

Profserv - Trustee

The District issued Series 2006 & 2008 of Special Assessment Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fees are based on standard fees charged plus any out of pockets expenses.

Profserv – Web Site Maintenance

The cost of web hosting services and regular maintenance of the District’s website performed by Inframark.

Auditing Services

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The budget is based on the current engagement fee with Grau & Associates CPA.

Postage & Freight
Represents the cost of mailing agenda packages, overnight deliveries, correspondence, etc.

Insurance – General Liability

The District's General Liability & Public Officials Liability Insurance policy is with The Florida League of Cities, Inc. The Florida League of Cities, Inc. specializes in providing insurance coverage to governmental agencies. A 10% increase is projected for FY19.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, etc.

Legal Advertising

The District is required to advertise various notices for monthly board meetings, public hearings etc in a newspaper of general circulation.

Miscellaneous Services
Bank charges and any other miscellaneous expenses that arise during the year.

Misc. Assessment Collection Fee

The District reimburses the Pasco County Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budget for collection costs was based on a maximum of 2% of the anticipated assessment collections.

Office Supplies
Miscellaneous office supplies required for the preparation of agendas.

Annual District Filing Fee

The District is required to pay an annual fee of $175 to the Department of Economic Opportunity Division of Community Development.

Annual Operating and Debt Service Budget	Page 3	
Fiscal Year 2019		

Heritage Springs
Community Development District	General Fund

Budget Narrative

Fiscal Year 2019

Maintenance:

Contracts-Lakes

The District has contracted Blue Water Aquatics, Inc. to perform lake maintenance services within the District. The estimated cost for these services is $2,900 per month. The remainder is to be used for other incurred costs that fall within this category.

Electricity – Streetlighting
The District incurs electrical expenses which are paid to Duke Energy.

R&M - Aquascaping
Installation and maintenance of Aquatic Plants.

R&M - Ponds
Costs associated with the maintenance and repair of ponds throughout the district.

R&M – Stormwater System
Costs associated with the maintenance and repair of storm water system throughout the district.

Misc. - Contingency
This category is for any unexpected expenditures that the District may incur during the Fiscal Year.

Reserve - Ponds

The District will restrict a portion of the fund balance for future repairs & maintenance deemed necessary and approved by the board.

Annual Operating and Debt Service Budget	Page 4	
Fiscal Year 2019		

HERITAGE SPRINGS

Community Development District			General Fund		
	Exhibit "A"						
	Allocation of Fund Balances				
	AVAILABLE FUNDS						
				Amount		
	Beginning Fund Balance - Fiscal Year 2019	$	1,053,157			
	Net Change in Fund Balance - Fiscal Year 2019			-			
	Reserves - Fiscal Year 2019 Additions			35,664			
							
	Total Funds Available (Estimated) - 9/30/2019			1,088,821			
	ALLOCATION OF AVAILABLE FUNDS						
	Assigned Fund Balance			87,947  (1)		
	Operating Reserve					
	Reserves - Ponds (FY09)	25,000					
	Reserves - Ponds (FY10)	51,333					
	Reserves - Ponds (FY11)	46,390					
	Reserves - Ponds (May 2012 Board Motion)	350,000					
	Reserves - Ponds (FY12)	59,293					
	Reserves - Ponds (FY13)	59,775					
	Reserves - Ponds (FY14)	67,411					
	Reserves - Ponds (FY15)	45,515					
	Reserves - Ponds (FY16)	46,933					
	Reserves - Ponds (FY17)	41,643					
	Reserves - Ponds (FY18-Projected)	38,501					
	Reserves - Ponds (FY19-Proposed)	35,664		867,458			
							
		Subtotal	955,405			
							
	Total Allocation of Available Funds			955,405			
	Total Unassigned (undesignated) Cash						
		$	133,416			

Notes

(1) Represents approximately 3 months of operating expenditures

Annual Operating and Debt Service Budget	Page 5		
Fiscal Year 2019			

Heritage Springs

Community Development District

Debt Service Budgets

Fiscal Year 2019

HERITAGE SPRINGS

Community Development District	2006 Debt Service Fund

Summary of Revenues, Expenditures and Changes in Fund Balances

Fiscal Year 2019 Proposed Budget

				ADOPTED		ACTUAL		PROJECTED		TOTAL		ANNUAL	
		ACTUAL		BUDGET		THRU		AUG -		PROJECTED		BUDGET	
ACCOUNT DESCRIPTION		FY 2017		FY 2018		JUL-2018		SEP-2018		FY 2018		FY 2019	

REVENUES

Interest - Investments	$	255	$	-	$	288	$	40	$	328	$	-		
Special Assmnts- Tax Collector		141,027			141,027			141,027			-			141,027			141,027		
Special Assmnts- Discounts		(5,268)			(5,641)			(5,295)			-			(5,295)			(5,641)		
																			
TOTAL REVENUES		136,014			135,386			136,020			40			136,060			135,386		
EXPENDITURES																			
Administrative																			
Misc-Assessmnt Collection Cost		2,508			2,821			2,715			-			2,715			2,821		
																			
Total Administrative		2,508			2,821			2,715			-			2,715			2,821		
Debt Service																			
Debt Retirement Series A		80,000			85,000			85,000			-			85,000			85,000		
Prepayments Series A		5,000			-			-			-			-			-		
Interest Expense Series A		51,319			46,988			46,988			-			46,988			42,525		
Total Debt Service																			
		136,319			131,988			131,988			-			131,988			127,525		
																			
TOTAL EXPENDITURES		138,827			134,809			134,703			-			134,703			130,346		
Excess (deficiency) of revenues																			
Over (under) expenditures		(2,813)			577			1,317			40			1,357			5,040		
OTHER FINANCING SOURCES (USES)																			
Contribution to (Use of) Fund Balance		-			577			-			-			-			5,040		
																			
TOTAL OTHER SOURCES (USES)		-			577			-			-			-			5,040		
Net change in fund balance		(2,813)			577			1,317			40			1,357			5,040		
FUND BALANCE, BEGINNING		136,695			133,882			133,882			-			133,882			135,239		
FUND BALANCE, ENDING	$	133,882	$	134,459	$	135,199	$	40	$	135,239	$	140,279		

Annual Operating and Debt Service Budget	Page 6		
Fiscal Year 2019			

HERITAGE SPRINGS

Community Development District

Debt Service Amortization Schedule

Series 2006A Capital Improvement Revenue Bonds

		Regular		Principal		Interest	Outstanding	
	Date	Principal		Prepayments		Expense	Principal	

	11/1/2018				$21,262.50	$810,000.00	
	5/1/2019	$85,000.00			$21,262.50	$725,000.00	
	11/1/2019				$19,031.25	$725,000.00	
	5/1/2020	$90,000.00			$19,031.25	$635,000.00	
	11/1/2020				$16,668.75	$635,000.00	
	5/1/2021	$95,000.00			$16,668.75	$540,000.00	
	11/1/2021				$14,175.00	$540,000.00	
	5/1/2022	$100,000.00			$14,175.00	$440,000.00	
	11/1/2022				$11,550.00	$440,000.00	
	5/1/2023	$105,000.00			$11,550.00	$335,000.00	
	11/1/2023				$8,793.75	$335,000.00	
	5/1/2024	$115,000.00			$8,793.75	$220,000.00	
	11/1/2024				$5,775.00	$220,000.00	
	5/1/2025	$115,000.00			$5,775.00	$105,000.00	
	11/1/2025				$2,756.25	$105,000.00	
	5/1/2026	$105,000.00			$2,756.25	$0.00	
								
	totals	$810,000.00	$0.00	$200,025.00		

Annual Operating and Debt Service Budget

Fiscal Year 2019	Page 7

HERITAGE SPRINGS

Community Development District							2008 Debt Service (Refunding) Fund		
	Summary of Revenues, Expenditures and Changes in Fund Balances						
		Fiscal Year 2019 Proposed Budget												
							ADOPTED		ACTUAL		PROJECTED			TOTAL		ANNUAL		
				ACTUAL		BUDGET			THRU			AUG -		PROJECTED		BUDGET		
	ACCOUNT DESCRIPTION			FY 2017		FY 2018		JUL-2018		SEP-2018			FY 2018		FY 2019		
	REVENUES																						
	Interest - Investments	$	125	$	-	$	186	$	32	$	218	$	-			
	Special Assmnts- Tax Collector				94,045			94,045			94,045			-	$	94,045			94,045			
	Special Assmnts- Discounts				(3,513)			(3,762)			(3,531)			-			(3,531)			(3,762)			
																							
	TOTAL REVENUES				90,657			90,283			90,700			32			90,732			90,283			
	EXPENDITURES																						
	Administrative																						
	Misc-Assessmnt Collection Cost				1,672			1,881			1,810			-			1,810			1,881			
																							
	Total Administrative				1,672			1,881			1,810			-			1,810			1,881			
	Debt Service																						
	Principal Debt Retirement				70,000			75,000			75,000			-			75,000			75,000			
	Interest Expense				18,365			15,026			15,026			-			15,026			11,448			
	Total Debt Service																						
					88,365			90,026			90,026			-			90,026			86,448			
																							
	TOTAL EXPENDITURES				90,037			91,907			91,836			-			91,836			88,329			
	Excess (deficiency) of revenues																						
	Over (under) expenditures				620			(1,624)			(1,136)			32			(1,104)			1,954			
	OTHER FINANCING SOURCES (USES)																						
	Contribution to (Use of) Fund Balance				-			(1,624)			-			-			-			1,954			
																							
	TOTAL OTHER SOURCES (USES)				-			(1,624)			-			-			-			1,954			
	Net change in fund balance				620			(1,624)			(1,136)			32			(1,104)			1,954			
	FUND BALANCE, BEGINNING				50,373			50,993			50,993			-			50,993			49,889			
	FUND BALANCE, ENDING	$	50,993	$	49,369	$	49,857	$	32	$	49,889	$	51,843			

Annual Operating and Debt Service Budget	Page 8		
Fiscal Year 2019			

HERITAGE SPRINGS

Community Development District

Debt Service Amortization Schedule

Series 2008 Capital Improvement Revenue Refunding Bonds

	Regular		Principal		Interest	Outstanding	
Date	Principal		Prepayments		Expense	Principal	

11/1/2018				$5,724.00	$240,000.00	
5/1/2019	$75,000.00			$5,724.00	$165,000.00	
11/1/2019				$3,935.25	$165,000.00	
5/1/2020	$80,000.00			$3,935.25	$85,000.00	
11/1/2020				$2,027.25	$85,000.00	
5/1/2021	$85,000.00			$2,027.25	$0.00	
							
totals	$240,000.00	$0.00	$23,373.00		

Annual Operating and Debt Service Budget

Fiscal Year 2019

Page 9

Heritage Springs

Community Development District

Supporting Budget Schedules

Fiscal Year 2019

HERITAGE SPRINGS

Community Development District

Comparison of Assessment Rates

Fiscal Year 2019 vs. Fiscal Year 2018

Bond	General Fund	Debt Service	Total Assessments per Unit	Units							
Series	FY 2019	FY 2018 Percent	FY 2019	FY 2018	Percent	FY 2019	FY 2018	Percent	On-Roll		Prepaid	GF	DS		
			Change			Change			Change			Units	Total	Total		
2006	$298.75	$298.75	0.0%	$198.63	$198.63	0.0%	$497.38	$497.38	0.0%	739	29	$220,777	$141,027			
2008	$298.75	$298.75	0.0%	$168.54	$168.54	0.0%	$467.29	$467.29	0.0%	598		40	$178,653	$94,045			
										1,337	69	$399,429	$235,073			

Annual Operating and Debt Service Budget

Fiscal Year 2019	Page 10

4A.

RESOLUTION 2018-4

A RESOLUTION OF THE HERITAGE SPRINGS COMMUNITY DEVELOPMENT DISTRICT RELATING TO THE ANNUAL APPROPRIATIONS OF THE DISTRICT AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018; AND ENDING SEPTEMBER 30, 2019, AND REFERENCING THE MAINTENANCE AND BENEFIT SPECIAL ASSESSMENTS TO BE LEVIED BY THE DISTRICT FOR SAID FISCAL YEAR

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2018, submitted to the Board of Supervisors (the "Board") a proposed budget for the next ensuing budget year along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the proposed annual budget and any proposed long-term financial plan or program of the District for future operations (the "Proposed Budget) the District did file a copy of the Proposed Budget with the general purpose local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, on May 21, 2018, the Board set August 20, 2018, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a) Florida Statutes; and

WHEREAS, Section 190.008(2)(a), Florida Statutes requires that, prior to October 1 of each year, the District Board by passage of the Annual Appropriation Resolution shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget on a Cash Flow Budget basis, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year; and

WHEREAS, Section 190.021, Florida Statutes provides that the Annual Appropriation Resolution shall also fix the Maintenance Special Assessments and Benefit Special Assessments upon each piece of property within the boundaries of the District benefited, specifically and peculiarly, by the maintenance and/or capital improvement programs of the District, such levy representing the amount of District assessments necessary to provide for payment during the ensuing budget year of all properly authorized expenditures to be incurred by the District, including principal and interest of special revenue, capital improvement and/or benefit assessment bonds, in order for the District to exercise its various general and special powers to implement its single and specialized infrastructure provision purpose; and

WHEREAS, the Board of Supervisors of the Heritage Springs Community Development District finds and determines that the non-ad valorem special assessments it imposes and levies by

{00051326.DOC/}

this Resolution for maintenance on the parcels of property involved will constitute a mechanism by which the property owners lawfully and validly will reimburse the District for those certain special and peculiar benefits the District has determined are received by, and flow to, the parcels of property from the systems, facilities and services being provided, and that the special and peculiar benefits are apportioned in a manner that is fair and reasonable in accordance with applicable assessment methodology and related case law; and

WHEREAS, the Chair of the Board of Supervisors may designate the District Manager or other person to certify the non-ad valorem assessment roll to the Tax Collector in and for Pasco County political subdivision on compatible electronic medium tied to the property identification number no later than 15 September 2018 so that the Tax Collector may merge that roll with others into the collection roll from which the November tax notice is to be printed and mailed; and

WHEREAS, the proceeds from the collections of these imposed and levied non-ad valorem assessments shall be paid to the Heritage Springs Community Development District; and

WHEREAS, the Tax Collector, under the direct supervision of the Florida Department of Revenue performs the state work in preparing, mailing out, collecting and enforcing against delinquency the non-ad valorem assessments of the District using the Uniform Collection Methodology for non-ad valorem assessments; and

WHEREAS, if the Property Appraiser and the Tax Collector have adopted a different technological procedure for certifying and merging the rolls, then that procedure must be worked out and negotiated with Board approval through the auspices of the District Manager before there are any deviations from the provisions of Section 197.3632, Fla. Stat., and Rule 12D-18, Florida Administrative Code.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF HERITAGE SPRINGS COMMUNITY DEVELOPMENT DISTRICT;

Section 1. The provisions of the whereas clauses are true and correct and are incorporated herein as dispositive.

Section 2.   Budget

a.	That the Board of Supervisors has reviewed the District Manager's Proposed Budget, a copy of which is on file with the office of the District Treasurer and the office of the Recording Secretary, and is hereby attached to this resolution, and hereby approves certain amendments thereto, as shown in Section 2 below.
b.	That the District Manager's Proposed Budget, as amended by the Board, is adopted hereby in accordance with the provisions of Section 190.008(2)(a), Florida Statutes and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be revised subsequently as deemed necessary by the District Manager to reflect actual revenues and expenditures for the Fiscal Year 2018 and/or revised projections for Fiscal Year 2019.

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c.	That the adopted budget, as amended, shall be maintained in the office of the District Treasurer and the District Recording Secretary and identified as “The Budget for the Heritage Springs Community Development District for the Fiscal Year Ending September 30, 2019, as Adopted by the Board of Supervisors on August 20, 2018.”

Section 3.   Appropriations

That there be, and hereby is appropriated out of the revenues of the Heritage Springs Community Development District, for the Fiscal Year beginning October 1, 2018, and ending September 30, 2019 the sum of
__________________________________________________________ ($________) to be raised by the applicable imposition and levy by the Board of applicable non-ad valorem special assessments and otherwise, which sum is deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	$

DEBT SERVICE FUND	$

Total All Funds	$

Section 4.   Supplemental Appropriations

The Board may authorize by resolution supplemental appropriations or revenue changes for any lawful purpose from funds on hand or estimated to be received within the fiscal year as follows:
a.	Board may authorize a transfer of the unexpended balance or portion thereof of any appropriation item.
b.	Board may authorize an appropriation from the unappropriated balance of any fund.
c.	Board may increase any revenue or income budget account to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

The District Manager and Treasurer shall have the power within a given fund to authorize the transfer of any unexpended balance of any appropriation item or any portion thereof, provided such transfers do not exceed Ten Thousand ($10,000) Dollars or have the effect of causing more than 10% of the total appropriation of a given program or project to be transferred previously approved transfers included. Such transfer shall not have the effect of causing a more than $10,000 or 10% increase, previously approved transfers included, to the original budget appropriation for the receiving program. Transfers within a program or project may be approved by the applicable department director and the District Manager or Treasurer. The District Manager or Treasurer must establish administrative procedures, which require information on the request forms proving that such transfer requests comply with this section.

Section 5. Maintenance Special Assessment Levy: Fixed and Referenced and to be Levied by the Board

{00051326.DOC/}

a.	That the Fiscal Year 2018 Maintenance Special Assessment Levy (the "assessment levy") for the assessment upon all the property within the boundaries of the District based upon the special and peculiar benefit received and further based upon reasonable and fair apportionment of the special benefit, shall be in accordance with the attached Exhibit A, which levy represents the amount of District assessments necessary to provide for payment during the aforementioned budget year of all properly authorized expenditures to be incurred by the District, including principal and interest of special revenue, capital improvement and/or benefit assessment bonds. Said assessment levy shall be distributed as follows:

General Fund O & M	$	[See Assessment Levy Resolution 2018-5]	
Debt Service Fund	$	[See Assessment Levy Resolution 2018-5]	

b.	The designee of the Chair of the Board of Supervisors of the Heritage Springs Community Development District shall be the Manager or the Treasurer of the District designated to certify the non-ad valorem assessment roll to the Tax Collector in and for the Pasco County political subdivision, in accordance with applicable provisions of State law (Chapters 170, 190 and 197, Fla. Stat.) and applicable rules (Rule 12D-18, Florida Administrative Code) which shall include not only the maintenance special assessment levy but also the total for the debt service levy, as required by and pursuant to law.

Introduced, considered favorably, and adopted this 20th day of August, 2018.

Heritage Springs Community Development District

Steven Wertovitch
Chairman

Attest:

Andrew P. Mendenhall, PMP

Secretary

{00051326.DOC/}

4B

RESOLUTION 2018-5

A RESOLUTION LEVYING AND IMPOSING A NON AD
VALOREM MAINTENANCE SPECIAL ASSESSMENT FOR
THE HERITAGE SPRINGS COMMUNITY DEVELOPMENT

DISTRICT FOR FISCAL YEAR 2018/2019

Preamble

WHEREAS, certain improvements existing within the Heritage Springs Community Development District and certain costs of operation, repairs and maintenance are being incurred; and

WHEREAS, the Board of Supervisors of the Heritage Springs Community Development District find that the District's total General Fund operation assessments, taking into consideration other revenue sources during Fiscal Year 2018/2019, will amount to $ ; and

WHEREAS, the Board of Supervisors of the Heritage Springs Community Development District finds the District’s Debt Service Fund Assessment during Fiscal Year 2018/2019 will amount to $ ; and

WHEREAS, the Board of Supervisors of the Heritage Springs Community Development District finds that the Debt Service Fund relates to systems and facilities which provide special benefits peculiar to certain property within the District based on the applicable assessment methodology; and

WHEREAS, the Board of Supervisors of the Heritage Springs Community Development District finds that the non-ad valorem special assessments it levies and imposes by this resolution for maintenance on the parcels of property involved will reimburse the District for certain special and peculiar benefits received by the property flowing from the maintenance of the systems, facilities and services apportioned in a manner that is fair and reasonable, in accordance with the applicable assessment methodology; and

WHEREAS, the District Board understands that this resolution levies only the maintenance assessments for 2018/2019, the Chair of the District, or the designee of the District Manager, shall certify a total non-ad valorem assessment roll in a timely manner to the Tax Collector in and for Pasco County for collection to include all assessments levied and approved by the District on the property including those for debt service as well as for special maintenance assessments.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
SUPERVISORS OF THE HERITAGE SPRINGS COMMUNITY
DEVELOPMENT	DISTRICT   OF   PASCO   COUNTY,

FLORIDA;

{00051327.DOC/}

Section 1.	All the whereas clauses are incorporated herein and are dispositive.

Section 2. A special assessment for maintenance as provided for in Chapters 190.021(3), Florida Statutes, (hereinafter referred to as “Assessments”) is hereby levied on the platted lots within the District.

Section 3. That the collection and enforcement of the aforesaid Assessments on platted lots shall be by the Tax Collector serving as agent of the State of Florida in Pasco County (“Tax Collector”) and shall be at the same time and in like manner as ad valorem taxes and subject to all ad valorem tax collection and enforcement procedures which attend the use of the official annual tax notice.

Section 4. The levy and imposition of the maintenance special assessments on platted lots included in the District will be combined with the debt service non-ad valorem assessments which were levied and certified as a total amount on the non-ad valorem assessment roll to the Pasco County Tax Collector by the designee of the Chair of the Board on compatible medium no later than 31 August 2018, which shall then be collected by the Tax Collector on the tax notice along with other non-ad valorem assessments from other local governments and with all applicable property taxes to each platted parcel of property.

Section 5. The proceeds there from shall be paid to the Heritage Springs Community Development District.

Section 6. The Chair of the Board of the Heritage Springs Community Development District designates the District Manager to perform the certification duties.

Section 7. Be it further resolved, that a copy of this Resolution be transmitted to the proper public officials so that its purpose and effect may be carried out in accordance with law.

PASSED AND ADOPTED this 20th day of August, 2018, by the Board of Supervisors of the Heritage Springs Community Development District, Pasco County, Florida.

Andrew P. Mendenhall, PMP		Steven Wertovitch	
Secretary		Chairman	

{00051327.DOC/}