Heritage Springs
Community Development District

Financial Report

September 30, 2025

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 - 3	
Debt Service Fund	………………………………………………….	Page 4	

SUPPORTING SCHEDULES

Non-Ad Valorem Special Assessments	………………………………………………….	Page 5	
Cash and Investment Balance Report	………………………………………………….	Page 6	
Bank Reconciliation	………………………………………………….	Page 7	
Payment Register by Fund	………………………………………………….	Page 8­9	

Heritage Springs
Community Development District

Financial Statements
(Unaudited)

September 30, 2025

Balance Sheet
September 30, 2025	

ACCOUNT DESCRIPTION		

GENERAL FUND		
SERIES 2006 DEBT SERVICE FUND			

TOTAL	

ASSETS	
Cash - Checking Account
Investments:			$	128,590		$	-		$	128,590	
Money Market Account				730,280			-			730,280	
Interest Account A				-			7			7	
Prepayment Account A				-			322			322	
Reserve Fund				-			56,444			56,444	
Revenue Fund				-			140,516			140,516	
Prepaid Insurance				7,666			-			7,666	
TOTAL	ASSETS					$	866,536		$	197,289		$	1,063,825	

LIABILITIES	
Accounts Payable					$	191		$	-		$	191	
Accrued Expenses						4,107			-			4,107	
TOTAL	LIABILITIES						4,298			-			4,298	

FUND BALANCES	
Nonspendable:
Prepaid Insurance
Restricted for:				
7,666			
-			
7,666	
Debt Service				-			197,289			197,289	
Assigned to:											
Operating Reserves				49,366			-			49,366	
Reserves - Ponds				805,206			-			805,206	
TOTAL	FUND	BALANCES			$	862,238		$	197,289		$	1,059,527	
													
TOTAL	LIABILITIES	&	FUND	BALANCES		$	866,536		$	197,289		$	1,063,825	

	Statement	of	Revenues, Expenditures and Changes in Fund
For the Period Ending September 30, 2025	Balances		

ACCOUNT DESCRIPTION		ANNUAL
ADOPTED	YEAR TO DATE	YEAR TO DATE BUDGET		BUDGET		ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES	
Interest - Investments		$	10,000	$	10,000	$	50,468	$	40,468	504.68%	
Interest - Tax Collector		-	-	913	913	0.00%	
Special Assmnts- Tax Collector Special Assmnts- Discounts		513,075	513,075	513,074
(20,523)	(20,523)	(19,178)	(1)
1,345	100.00%
93.45%	
TOTAL	REVENUES		502,552	502,552	545,277	42,725	108.50%	

EXPENDITURES	
Administration	
	P/R-Board of Supervisors		11,000	11,000	9,000	2,000	81.82%	
	FICA Taxes		842	842	689	153	81.83%	
	ProfServ-Dissemination Agent		1,000	1,000	1,000	-	100.00%	
	ProfServ-Engineering		55,000	55,000	45,395	9,605	82.54%	
	ProfServ-Legal Services		5,000	5,000	4,830	170	96.60%	
	ProfServ-Mgmt Consulting		39,202	39,202	39,202	-	100.00%	
	ProfServ-Property Appraiser		150	150	150	-	100.00%	
	ProfServ-Special Assessment		7,500	7,500	7,500	-	100.00%	
	ProfServ-Trustee Fees
ProfServ-Web Site Maintenance		4,771
750	4,771
750	4,971
-	(200)
750	104.19%
0.00%	
	Auditing Services		5,800	5,800	5,600	200	96.55%	
	Postage and Freight nsurance - General Liability
Printing and Binding		400
6,555
600	400
6,555
600	402
6,808
494	(2)
(253)
106	100.50%
103.86%
82.33%	
	Legal Advertising
Miscellaneous Services		1,500
500	1,500
500	3,351
-	(1,851)
500	223.40%
0.00%	
	Misc-Assessment Collection Cost	10,262	10,262	9,882	380	96.30%	
	Office Supplies		525	525	-	525	0.00%	
	Annual District Filing Fee		175	175	175	-	100.00%	
Total Administration		151,532	151,532	139,449	12,083	92.03%	

Field								
	Contracts-Lakes
Electricity - Streetlights		43,176
53,011	43,176
53,011	44,475
47,356	(1,299)
5,655	103.01%
89.33%	
	R&M-Aquascaping		5,000	5,000	-	5,000	0.00%	
	Weir and Wetland Maintenance		56,566	56,566	54,788	1,778	96.86%	
	Misc-Contingency		5,195	5,195	1,035	4,160	19.92%	
	nfrastructure Repair		65,000	65,000	43,418	21,582	66.80%	
	Pond Bank Repairs & Maintenance	179,840	179,840	438,750	(258,910)	243.97%	
Total Field		407,788	407,788	629,822	(222,034)	154.45%	
							
TOTAL	EXPENDITURES		559,320	559,320	769,271	(209,951)	137.54%	

I

I

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending September 30, 2025

ANNUAL
ADOPTED	YEAR TO DATE	YEAR TO DATE

VARIANCE ($)

YTD ACTUAL AS A % OF

ACCOUNT DESCRIPTION

Excess (deficiency) of revenues Over (under) expenditures

BUDGET

(56,768)

BUDGET

(56,768)

ACTUAL

(223,994)

FAV(UNFAV)

(167,226)

ADOPTED BUD

394.58%

OTHER FINANCING SOURCES (USES)

Contribution to (Use of) Fund Balance	(56,768)	-	-	-	0.00%	
TOTAL FINANCING SOURCES (USES)	(56,768)	-	-	-	0.00%	

Net change in fund balance	
$	(56,768)	
$	(56,768)	
$	(223,994)	
$	(167,226)	
394.58%	

FUND BALANCE, BEGINNING (OCT 1, 2024)	
1,086,232	
1,086,232	
1,086,232			
FUND BALANCE, ENDING	$	1,029,464	$	1,029,464	$	862,238			

Statement	of	Revenues, Expenditures and Changes in Fund
For the Period Ending September 30, 2025	Balances		

ACCOUNT DESCRIPTION			ANNUAL ADOPTED
BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES	
Interest - Investments				$	-	$	-	$	8,513	$	8,513	0.00%	
Special Assmnts- Tax Collector				141,027	141,027	141,027	-	100.00%	
Special Assmnts- Discounts				(5,641)	(5,641)	(5,271)	370	93.44%	
TOTAL	REVENUES							135,386		135,386		144,269	8,883	106.56%	

EXPENDITURES	
Administration	
	Misc-Assessment Collection	Cost			2,821		2,821		2,715	106	96.24%	
Total Administration						2,821		2,821		2,715	106	96.24%	

Debt Service	
	Debt Retirement Series A					110,000		110,000		100,000	10,000	90.91%	
	Prepayments Series A					-		-		5,000	(5,000)	0.00%	
	Interest Expense Series A					11,288		11,288		11,156	132	98.83%	
Total Debt Service						121,288		121,288		116,156	5,132	95.77%	
													
TOTAL	EXPENDITURES						124,109		124,109		118,871	5,238	95.78%	

Excess (deficiency) of revenues Over (under) expenditures					

11,277		

11,277		

25,398	

14,121	

225.22%	

OTHER FINANCING SOURCES (USES)	
Contribution to (Use of) Fund Balance		11,277		-		-	-	0.00%	
TOTAL	FINANCING	SOURCES	(USES)			11,277	-		-	-	0.00%	

Net change in fund	
balance					
$	
11,277	
$	
11,277	
$	
25,398	
$	14,121	
225.22%	

FUND BALANCE,	
BEGINNING	
(OCT	
1,	
2024)	
171,891		
171,891		
171,891			
FUND BALANCE,	ENDING				$	183,168	$	183,168	$	197,289			

Heritage Springs
Community Development District

Supporting Schedules

September 30, 2025

Non-Ad Valorem Special Assessments - Pasco County Tax Collector (Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2025

	A	LLOCATIO	N BY	FUND	
Date Received	Net Amount Received	Discount /
(Penalties) Amount	Collection Costs	Gross
Amount Received	General Fund	
Series 2006
Debt Service	

Assessments Levied					
$	
654,101	
$	
513,074	
$	
141,027	
Allocation %						100%		78%		22%	
11/05/24	$	14,628	$	814	$	299	$	15,740	$	12,347	$	3,394	
11/14/24	$	114,825	$	4,876	$	2,343	$	122,044	$	95,731	$	26,313	
11/21/24	$	91,118	$	3,874	$	1,860	$	96,852	$	75,970	$	20,882	
11/27/24	$	73,231	$	3,106	$	1,495	$	77,831	$	61,050	$	16,781	
12/09/24	$	223,767	$	9,500	$	4,567	$	237,834	$	186,556	$	51,278	
12/16/24	$	30,198	$	1,184	$	616	$	31,999	$	25,100	$	6,899	
01/08/25	$	23,835	$	753	$	486	$	25,075	$	19,669	$	5,406	
02/12/25	$	13,242	$	282	$	270	$	13,794	$	10,820	$	2,974	
03/11/25	$	5,246	$	60	$	107	$	5,413	$	4,246	$	1,167	
04/08/25	$	21,049	$	-	$	430	$	21,479	$	16,848	$	4,631	
05/13/25	$	751	$	-	$	16	$	768	$	602	$	165	
05/13/25	$	245	$	-	$	5	$	250	$	196	$	54	
06/11/25	$	1,269	$	-	$	26	$	1,295	$	1,016	$	279	
06/16/25	$	3,652	$	-	$	75	$	3,726	$	2,923	$	803	
TOTAL	$	617,058	$	24,449	$	12,594	$	654,101	$	513,074	$	141,027	
% COLLECTED	100%	100%	100%

TOTAL	OUTSTANDING	$	-	$	-	$	-	

Cash and Investment Report
September 30, 2025

General Fund				

Account Name	
Bank Name	
Investment Type	
Maturity	
Yield		
Balance	
Checking Acct - Operating	Valley Bank	Gov't Interest Checking	n/a	4.33%	$	128,590	

Public Funds Money Market	
Bank United	
MMA - #0143	
n/a	
3.90%	
	730,280 	
				GF Total	$	858,870	
						
Debt Service Fund						

Account Name	
Bank Name	
Investment Type	
Maturity	
Yield	
Balance	
Series 2006 Interest A Fund	US Bank	Government Obligation Fund	n/a	3.91%	7	
Series 2006 Prepayment A	US Bank	Government Obligation Fund	n/a	3.91%	322	
Series 2006 Reserve Fund	US Bank	US Bank Open-End CP	9/1/2023	3.91%	56,444	
Series 2006 Revenue Fund	US Bank	US Bank Open-End CP	9/1/2023	3.91%	140,516	
				DS Total	$	197,289	

Total Cash & Investments	$	1,056,159

Bank Account Statement
Heritage Springs CDD

Bank Account No.	0655		
Statement No.	09-25	Statement Date	09/30/2025	
G/L Account No. 101002 Balance	128,589.80	Statement Balance	132,894.85	
		Outstanding Deposits	0.00	
Positive Adjustments	0.00	Subtotal	132,894.85		
Subtotal	128,589.80	Outstanding Checks	-4,305.05		
Negative Adjustments	0.00	Ending Balance	128,589.80		
Ending G/L Balance	128,589.80				

Document Posting Date Type

09/25/2025	Payment	100088	
09/25/2025	Payment	100089	
09/30/2025	Payment	100090	

Outstanding Checks

Total Outstanding Checks

Document No.

Vendor

BRLETIC DVORAK, INC
STRALEY ROBIN VERICKER INFRAMARK LLC

Description	Amount

Cleared
Amount	Difference

Inv: 2081	-840.00	
Inv: 27090	-197.00	
Inv: 159263	-3,268.05	
	-4,305.05	

Outstanding Deposits

Total Outstanding Deposits

Fund
No.	Date	Payee	Invoice No.	Payment Description	Invoice / GL Description	G/L Account #	Amount
Paid	
GENERAL FUND - 001

CHECK # 100084		
001	09/04/25	INFRAMARK LLC	157165	JULY 25 AGENDA PACKAGES/POSTAGE	Printing and Binding	547001-51301	$90.00	
001	09/04/25	INFRAMARK LLC	157165	JULY 25 AGENDA PACKAGES/POSTAGE	Postage and Freight	541006-51301	$2.96	

CHECK # 100085					Check Total	$92.96	
001	09/15/25	INFRAMARK LLC	158117	SEPTEMBER 25 ADMINISTRATIVE FEE	ProfServ-Mgmt Consulting	531027-51201	$3,266.83	

CHECK # 100086					Check Total	$3,266.83	
001	09/15/25	FEDEX	8-959-08666	8/13/25 FEDEX AGENDA PACKET	Postage and Freight	541006-51301	$20.97	

CHECK # 100087					Check Total	$20.97	
001	09/15/25	TIGRIS AQUATIC SERVICES LLC	3668818	SEPT 25 POND MAINTENANCE	Contracts-Lakes	534084-53901	$3,750.00	
001	09/15/25	TIGRIS AQUATIC SERVICES LLC	4056074	Fountain Breaker in Panel Service	Misc-Contingency	549900-53901	$200.00	

CHECK # 100088					Check Total	$3,950.00	
001	09/25/25	BRLETIC DVORAK, INC	2081	AUGUST 25 ENGINEERING SERVICES	ProfServ-Engineering	531013-51501	$840.00	

CHECK # 100089					Check Total	$840.00	
001	09/25/25	STRALEY ROBIN VERICKER	27090	AUGUST 25 LEGAL SERVICES	ProfServ-Legal Services	531023-51401	$197.00	

CHECK # 100090					Check Total	$197.00	
001	09/30/25	INFRAMARK LLC	159263	PUBLIC HEARING PUBLICATION / POSTAGE	ProfServ-Mgmt Consulting	531027-51201	$1,000.00	
001	09/30/25	INFRAMARK LLC	159263	PUBLIC HEARING PUBLICATION / POSTAGE	Legal Advertising	548002-51301	$2,265.83	
001	09/30/25	INFRAMARK LLC	159263	PUBLIC HEARING PUBLICATION / POSTAGE	Postage and Freight	541006-51301	$2.22	

CHECK # 300016					Check Total	$3,268.05	
001	09/08/25	DUKE ENERGY - ACH	081825-7138	DUKE ENERGY 7/15-8/13/25	Electricity - Streetlights	543013-53901	$4,032.41	
					Check Total	$4,032.41	

Fund
No.	Date	Payee	Invoice No.	Payment Description	Invoice / GL Description	G/L Account #	Amount
Paid	

CHECK # 692
001	09/23/25 EGIS INSURANCE ADVISORS, LLC	29416	FY2026 FIA Insurance	Prepaid Insurance	155100-51301	$6,816.00

Check Total	$6,816.00
CHECK # 693
001	09/25/25 EGIS INSURANCE ADVISORS, LLC	28918	FY2026 WORKERS COMP INSURANCE	Prepaid Insurance	155100-51301	$850.00

Check Total	$850.00
CHECK # DD310
001	09/22/25 DUKE ENERGY - ACH	081925-2604	DUKE ENERGY 07/30-08/27/25	Misc-Contingency	549900-53901	$51.48

Check Total	$51.48

Fund Total	$23,385.70

$23,385.70

Total Checks Paid