Heritage Springs Community Development District

April 20, 2026 Agenda Package

2005 PAN AM CIRCLE, SUITE 300
TAMPA, FL 33706

HERITAGE SPRINGS COMMUNITY DEVELOPMENT DISTRICT
Board of Supervisors	Staff:
Steven Wertovitch, Chairman	Wesley Elias, District Manager
Joe DePompa, Vice Chairman	Cari Webster, District Counsel
Robert Johnstone, Assistant Secretary	Robert Dvorak, District Engineer Gary Rider, Assistant Secretary		Howard Neal, Field Manager
Richard Waugh, Assistant Secretary		Joe Davis, Facilities Manager Sandra MacGregor, Accountant
Diana Kapatsyna, District Admin Assistant
REGULAR MEETING AGENDA
Monday, April 20, 2026 – 2:30 p.m.

Call to Order and Roll Call
Audience Comments – Three- (3) Minute Time Limit
Business Administration
Approval of the Regular Meeting Minutes held on March 16, 2026	Page 3
Staff Reports
District Accountant
i. Acceptance of March 2026 Financial Statements	Page 7
District Engineer
District Manager
Business Items
Presentation of Bond Payoff Process (Series 2016)	Page 20
Presentation of the Fiscal Year 2027 Proposed Budget…	Page 29
Maintenance Items
Board of Supervisors’ Requests or Comments
Adjournment

The next meeting is scheduled for Monday, May 13, 2026, at 2:30 p.m.

District Office:	Meeting Location
Inframark c/o Heritage Springs CDD	Heritage Springs Community Clubhouse 2005 Pan Am Circle, Suite 300		11345 Robert Trent Jones Parkway
Tampa, FL 33607	New Port Richey, FL 34655

MINUTES OF MEETING HERITAGE SPRINGS
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Heritage Springs Community
Development District was held on Monday, March 16, 2026, and called to order at 2:30 p.m. at
the Heritage Springs Community Clubhouse, 11345 Robert Trent Jones Parkway, New Port
Richey, Florida.
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6	Present and constituting a quorum were:
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Steven Wertovitch	Chairperson
Joe DePompa	Vice Chairperson
Gary Rider	Assistant Secretary
Richard Waugh	Assistant Secretary
Robert Johnston	Assistant Secretary 13
14	Also, present were either in person, video (TEAMs) or voice conference call: 15
Mike Perez	District Manager
John Weaver	District Manager
Helena Schneider	District Accountant
Robert Dvorak	District Engineer 20
This is not a certified or verbatim transcript but rather represents the context and
summary of the meeting. The full meeting is available in audio format upon request. Contact
the District Office for any related costs for an audio copy.
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FIRST ORDER OF BUSINESS	Call to Order and Roll Call
Mr. Perez called the meeting to order, and a quorum was established. 28
SECOND ORDER OF BUSINESS	Audience Comments
There were no audience comments. 31
THIRD ORDER OF BUSINESS	Business Administration
A. Approval of Regular Meeting Minutes held on February 16, 2026

On MOTION by Mr. Johnstone, seconded by Mr. Rider with all in favor, the Meeting Minutes for February 16, 2026, was approved. 5-0

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FOURTH ORDER OF BUSINESS	Staff Reports
A. District Accountant

Heritage Springs CDD March 16, 2026, Meeting

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Consideration of Opening a New Bank Account at Valley Bank Account for US Bank Trust Funds (Series 2006 Bonds)
Mr. Wertovitch inquired about the financial rules governing the association.
Ms. Schneider requested that a motion be made to transfer the association’s account to Valley National Bank.
The Board raised several questions regarding the bond, including how the bond was paid off and the status of the payment that was expected in November 2025.
The Board requested a documented presentation outlining the full history and handling of the bond, to be delivered at the April meeting in the form of a PowerPoint presentation.
Additional inquiries from the Board included:
A request for a list of residents who are receiving refunds.
Clarification regarding what occurred with the first bond and the second bond.
Whether residents who prepaid are included on the refund list.
An explanation as to why these specific actions were taken concerning this bond as opposed to others.
These matters remain under review pending further documentation and presentation.

On MOTION by Mr. Johnstone, seconded by Mr. DePompa with all in favor, the Valley National Bank Account was approved. 5-0

Acceptance of February 2026 Financial Statements

On MOTION by Mr. Johnstone, seconded by Mr. Waugh with all in favor, the February 2026 Financial Statement was approved. 5-0

B. District Engineer
Mr. Dvorak discussed the pond project agreements, noting that they have been finalized and executed. CLS is scheduled to begin work on March 23, with an estimated duration of two to four weeks to complete both projects. The 161F project is expected to commence during the first week of April and is anticipated to take approximately three to four weeks.

Heritage Springs CDD March 16, 2026, Meeting

The Engineer advised that he will be absent from the next meeting, and Mr. Wagner will

On MOTION by Mr. Johnstone, seconded by Mr. DePompa with all in favor, the CLS proposal in an amount not-to-exceed $5,000, was approved. 5-0

attend in his place. 78
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C. District Manager
Mr. Perez reminded the Board that the regular meeting will be on Monday, April 20,
2026, at 2:30 p.m.
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FIFTH ORDER OF BUSINESS	Business Items
A. Consideration of D&D Grates Proposal

On MOTION by Mr. Rider, seconded by Mr. Johnstone with all in favor, the D&D Grates proposal was approved. 5-0

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SIXTH ORDER OF BUSINESS	Maintenance Items
Mr. DePompa confirmed that maintenance lines up with financial report.
B. Discussion of Pond Bank Reclamation Projects

SEVENTH ORDER OF BUSINESS	Board	of	Supervisors’	Requests	or
Comments
	Mr. Wertovitch reported that the association’s typical vendor, Mr. Davis, is not available
to perform the necessary repairs to the concrete damage at the intersection of Yellow
Finch and Winding Willow.
It was further noted that the street depression on Winding Willow also requires attention
and remediation.
	Mr. Wertovitch stated historically at the end of this meeting, they would continue the
meeting for March 30th at 6:30pm in order for himself to host a CDD 101 meeting with
all residents to inform them what the CDD does. This also allows other board members
to participate.
EIGHTH ORDER OF BUSINESS	Continuance
There being no further business, 108

Heritage Springs CDD March 16, 2026, Meeting

On MOTION by Mr. Johnstone, seconded by Mr. Rider, with all in favor, the meeting was continued at 4:53 p.m. to March 30, 2026 at 6:30 p.m. 5-0

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116	Steven Wertovitch
117	Chairperson

Heritage Springs Community Development District

Financial Report

March 31, 2026

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 8 - 9	

Heritage Springs
Community Development District

Financial Statements
(Unaudited)

March 31, 2026

HERITAGE SPRINGS
Community Development District

Governmental Funds

Balance Sheet
March 31, 2026

ACCOUNT DESCRIPTION	GENERAL FUND

SERIES 2006 DEBT
SERVICE FUND	TOTAL

   

ASSETS

Cash - Checking Account	$	103,627	$	-	$	103,627	
Due From Other Funds	-	4,231	4,231	
Investments:			
Money Market Account	1,020,441	-	1,020,441	
Interest Account A	-	12	12	
Prepayment Account A	-	323	323	
Reserve Fund	-	56,444	56,444	
Revenue Fund	-	154,032	154,032	
TOTAL ASSETS	$	1,124,068	$	215,042	$	1,339,110	

LIABILITIES			
Accounts Payable	$	-	$	-	$	-	
Accrued Expenses	4,000	-	4,000	
Due To Other Funds	4,231	-	4,231	
TOTAL LIABILITIES	8,231	-	8,231	

FUND BALANCES			
Restricted for:			
Debt Service
Assigned to:	-	215,042	215,042	
Operating Reserves	136,346	-	136,346	
Reserves - Ponds	805,206	-	805,206	
Unassigned:	174,285	-	174,285	
TOTAL FUND BALANCES	$	1,115,837	$	215,042	$	1,330,879	
				
TOTAL LIABILITIES & FUND BALANCES	$	1,124,068	$	215,042	$	1,339,110	

HERITAGE SPRINGS
Community Development District									
General Fund	

Statement of Revenues, Expenditures and Changes in Fund Balances		
	For the Period Ending March 31, 2026				
		ANNUAL							YTD ACTUAL	
		ADOPTED	YEAR TO DATE	YEAR TO DATE	VARIANCE ($)	AS A % OF	
ACCOUNT DESCRIPTION		BUDGET		BUDGET		ACTUAL		FAV(UNFAV)	ADOPTED BUD	

REVENUES										
Interest - Investments	$	40,000	$	20,000	$	20,309	$	309	50.77%	
Interest - Tax Collector		-		-		480		480	0.00%	
Special Assmnts- Tax Collector		526,441		526,441		505,398		(21,043)	96.00%	
Special Assmnts- Discounts		(21,058)		(21,058)		(19,737)		1,321	93.73%	
TOTAL REVENUES		545,383		525,383		506,450		(18,933)	92.86%	

EXPENDITURES										
Administration										
P/R-Board of Supervisors		11,000		5,500		5,600		(100)	50.91%	
FICA Taxes		842		421		367		54	43.59%	
ProfServ-Dissemination Agent		1,000		-		-		-	0.00%	
ProfServ-Engineering		55,000		27,500		31,170		(3,670)	56.67%	
ProfServ-Legal Services		5,000		2,500		1,199		1,301	23.98%	
ProfServ-Mgmt Consulting		39,202		19,601		19,601		-	50.00%	
ProfServ-Property Appraiser		150		-		-		-	0.00%	
ProfServ-Special Assessment		7,500		7,500		7,500		-	100.00%	
ProfServ-Trustee Fees		4,971		4,971		-		4,971	0.00%	
ProfServ-Web Site Maintenance		750		750		-		750	0.00%	
Auditing Services		5,800		5,800		5,700		100	98.28%	
Postage and Freight		400		200		150		50	37.50%	
Insurance - General Liability		7,000		7,000		7,666		(666)	109.51%	
Printing and Binding		600		300		450		(150)	75.00%	
Legal Advertising		1,600		800		-		800	0.00%	
Miscellaneous Services		1,900		950		349		601	18.37%	
Misc-Assessment Collection Cost		10,528		10,528		9,713		815	92.26%	
Office Supplies		100		50		-		50	0.00%	
Annual District Filing Fee		175		175		175		-	100.00%	
Total Administration		153,518		94,546		89,640		4,906	58.39%	

Field										
Contracts-Lakes		45,000		22,500		22,404		96	49.79%	
Electricity - Streetlights		46,600		23,300		24,283		(983)	52.11%	
R&M-Aquascaping		5,000		5,000		2,500		2,500	50.00%	
Weir and Wetland Maintenance		36,455		18,228		-		18,228	0.00%	
Misc-Contingency		5,600		2,800		-		2,800	0.00%	
Infrastructure Repair		60,000		30,000		4,250		25,750	7.08%	
Pond Bank Repairs & Maintenance		193,210		96,605		112,074		(15,469)	58.01%	
Total Field		391,865		198,433		165,511		32,922	42.24%	
										
TOTAL EXPENDITURES		545,383		292,979		255,151		37,828	46.78%	

HERITAGE SPRINGS

Community Development District	General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances

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

For the Period Ending March 31, 2026

ACCOUNT DESCRIPTION

Excess (deficiency) of revenues		
Over (under) expenditures	-	232,404	251,299	18,895	0.00%	

Net change in fund balance	
$	-	
$	232,404	
$	251,299	
$	18,895	
0.00%	

FUND BALANCE, BEGINNING (OCT 1, 2025)	
864,538	
864,538	
864,538			
FUND BALANCE, ENDING	$	864,538	$	1,096,942	$	1,115,837			

HERITAGE SPRINGS

Community Development District	Series 2006 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending March 31, 2026

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	
$	-	
$	-	
$	2,530	
$	2,530	
0.00%	
Special Assmnts- Tax Collector	141,027	141,027	135,389	(5,638)	96.00%	
Special Assmnts- Discounts	(5,641)	(5,641)	(5,287)	354	93.72%	
TOTAL REVENUES	135,386	135,386	132,632	(2,754)	97.97%	

EXPENDITURES						
Administration	
Misc-Assessment Collection Cost	2,821	2,821	2,602	219	92.24%	
Total Administration	2,821	2,821	2,602	219	92.24%	

Debt Service						
Debt Retirement Series A	105,000	105,000	110,000	(5,000)	104.76%	
Interest Expense Series A	5,513	2,888	2,888	-	52.39%	
Total Debt Service	110,513	107,888	112,888	(5,000)	102.15%	
						
TOTAL EXPENDITURES	113,334	110,709	115,490	(4,781)	101.90%	

Excess (deficiency) of revenues Over (under) expenditures	

22,052	

24,677	

17,142	

(7,535)	

77.73%	

Net change in fund balance	
$	22,052	
$	24,677	
$	17,142	
$	(7,535)	
77.73%	

FUND BALANCE, BEGINNING (OCT 1, 2025)	
197,900	
197,900	
197,900			
FUND BALANCE, ENDING	$	219,952	$	222,577	$	215,042			

Heritage Springs
Community Development District

Supporting Schedules

March 31, 2026

HERITAGE SPRINGS

Community Development District

Non-Ad Valorem Special Assessments - Pasco County Tax Collector (Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2026

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

Assessments Levied			
$	667,471	
$	526,444	
$	141,027	
Allocation %			100%	79%	21%	
11/06/25	$	17,024	$	964	$	347	$	18,335	$	14,461	$	3,874	
11/14/25	$	108,170	$	4,599	$	2,208	$	114,976	$	90,684	$	24,293	
11/20/25	$	95,952	$	4,080	$	1,958	$	101,990	$	80,441	$	21,549	
11/26/25	$	47,989	$	2,036	$	979	$	51,004	$	40,228	$	10,776	
12/05/25	$	229,545	$	9,760	$	4,685	$	243,989	$	192,438	$	51,551	
12/11/25	$	44,246	$	1,854	$	903	$	47,003	$	37,072	$	9,931	
12/18/25	$	19,618	$	715	$	400	$	20,733	$	16,352	$	4,380	
01/09/26	$	20,878	$	655	$	426	$	21,959	$	17,320	$	4,640	
02/11/26	$	12,713	$	287	$	259	$	13,260	$	10,458	$	2,802	
03/12/26	$	7,314	$	75	$	149	$	7,538	$	5,946	$	1,593	
TOTAL	$	603,448	$	25,024	$	12,315	$	640,787	$	505,398	$	135,389	

% COLLECTED	96%	96%	96%	
TOTAL OUTSTANDING	$	26,684	$	21,046	$	5,638	

HERITAGE SPRINGS

Community Development District

Cash and Investment Report
March 31, 2026

General Fund				

Account Name	
Bank Name	
Investment Type	
Maturity	
Yield		
Balance	
Checking Acct - Operating	Valley Bank	Gov't Interest Checking	n/a	3.56%	$	103,627	
Public Funds Money Market	Bank United	MMA - #0143	n/a	3.40%		1,020,441 	
				GF Total	$	1,124,068	
						
Debt Service Fund						

Account Name	
Bank Name	
Investment Type	
Maturity	
Yield	
Balance	
Series 2006 Interest A Fund	US Bank	Government Obligation Fund	n/a	3.27%	12	
Series 2006 Prepayment A	US Bank	Government Obligation Fund	n/a	3.27%	323	
Series 2006 Reserve Fund	US Bank	US Bank Open-End CP	5/1/2026	3.27%	56,444	
Series 2006 Revenue Fund	US Bank	US Bank Open-End CP	5/1/2026	3.27%	154,032	
				DS Total	$	210,811	

Total Cash & Investments	$	1,334,879

Bank Account Statement
Heritage Springs CDD

Bank Account No.	0655		
Statement No.	03-26	Statement Date	03/31/2026	
G/L Account No. 101002 Balance	103,626.72	Statement Balance	106,903.97	
		Outstanding Deposits	0.00	
Positive Adjustments	0.00	Subtotal	106,903.97		
Subtotal	103,626.72	Outstanding Checks	-3,277.25		
Negative Adjustments	0.00	Ending Balance	103,626.72		
Ending G/L Balance	103,626.72				

Document Posting Date Type

Document No.

Vendor

Description	Amount

Cleared
Amount	Difference

Outstanding Checks

03/23/2026	Payment

03/23/2026	Payment

03/31/2026	Payment
Total Outstanding Checks

100118

100119

709

BRLETIC DVORAK, INC
PASCO COUNTY PROPERTY APPRAISER FEDEX

Inv: 2339	-3,105.00

Inv: 26024	-150.00

Check for Vendor 2	-22.25
-3,277.25

Outstanding Deposits

Total Outstanding Deposits

HERITAGE SPRINGS COMMUNITY DEVELOPMENT DISTRICT
Payment Register by Fund
For the Period from 03/01/2026 to 03/31/2026 (Sorted by Check / ACH No.)

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

CHECK # 100114
001  03/23/26	
FINN OUTDOOR	
2996	
Pond 161 F restoration	
Pond Bank Repairs & Maintenance	
563073-53901	
$48,219.60	

CHECK # 100115					Check Total	$48,219.60	
001  03/23/26	STRALEY ROBIN VERICKER	27958	Jan legal Services	ProfServ-Legal Services	531023-51301	$122.00	

CHECK # 100116					Check Total	$122.00	
001  03/23/26	CLEARVUE ENVIRONMENTAL LLC	1151	MAR 26 POND MAINT	Contracts-Lakes	534084-53901	$3,702.00	

CHECK # 100117					Check Total	$3,702.00	
001  03/23/26	INFRAMARK LLC	172976	MAR 26 MGMT SERVICES	ProfServ-Mgmt Consulting	531027-51301	$3,266.83	
001  03/23/26	INFRAMARK LLC	173920	Feb 2026 Agenda Packages	Printing and Binding	547001-51301	$90.00	

CHECK # 100118					Check Total	$3,356.83	
001  03/23/26	BRLETIC DVORAK, INC	2339	FEB 26 ENGINEERING SERVICES	ProfServ-Engineering	531013-51301	$3,105.00	

CHECK # 100119					Check Total	$3,105.00	
001  03/23/26	PASCO COUNTY PROPERTY APPRAISER	26024	Pasco Cty Annual renewal fee	Miscellaneous Services	549001-51301	$150.00	

CHECK # 300027					Check Total	$150.00	
001  03/10/26	DUKE ENERGY	217267138ACH	SRV PRD 1/15-2/11/26	Electricity - Streetlights	543013-53901	$3,912.39	

CHECK # 300028					Check Total	$3,912.39	
001  03/20/26	DUKE ENERGY	022726-2604-ACH	SRV PRD 1/29-2/25/26	Electricity - Streetlights	543013-53901	$33.24	

CHECK # 706					Check Total	$33.24	
001  03/03/26	RICHARD J WAUGH	RW-011926	CHECK NEVER RECEIVED BOARD 1/19/26	Due From Other Funds	131000	$200.00	

CHECK # 707					Check Total	$200.00	
001  03/19/26	CONSOLIDATED LAND SERVICES, INC	00000294	Pond 161 -A REPAIR	Pond Bank Repairs & Maintenance	563073-53901	$44,048.74	
001  03/19/26	CONSOLIDATED LAND SERVICES, INC	00000293	Lake 191 E	Pond Bank Repairs & Maintenance	563073-53901	$16,305.45	

CHECK # 708					Check Total	$60,354.19	
001  03/19/26	MRIC SPATIAL, LLC	3187	Pond Survey -	R&M-Aquascaping	546006-53901	$2,500.00	
001  03/19/26	MRIC SPATIAL, LLC	3141	Pond Survey -	Pond Bank Repairs & Maintenance	563073-53901	$3,500.00	
					Check Total	$6,000.00	

HERITAGE SPRINGS COMMUNITY DEVELOPMENT DISTRICT
Payment Register by Fund
For the Period from 03/01/2026 to 03/31/2026 (Sorted by Check / ACH No.)

Fund
No.	Date	Payee	Invoice No.	Payment Description	Invoice / GL Description	G/L Account #	Amount
Paid	
CHECK # 709
001  03/31/26 FEDEX	9-217-29805	FEDEX CHARGES	Postage and Freight	541006-51301	$22.25

Check Total	$22.25

Fund Total	$129,177.50

Total Checks Paid	$129,177.50	

Heritage Springs CDD
BOND PAYOFF PROCESS, SERIES 2016
Presented by Inframark, Finance

General Process for Bond Issuance and Debt Payments
Bonds are issued for a 30-year term.
Owners may payoff principal for their parcel early, or pay it off annually (combined with the O&M assessments) until the bonds mature.
For parcels not paid off early, an annual debt assessment is levied on the real estate tax bills until bond maturity.
Bond maturity date: May 1, 2026 (as shown in the bond documents
and on the amortization schedule).

Can the total outstanding amount of bonds be paid off early?
Yes, if enough early payoffs are made or interest is earned on the trust account, excess funds may have been accrued to pay off bonds before the maturity date.
This results in an interest savings on the overall outstanding amount of bonds.

How are early bond payoffs or paydowns determined?
The trustee—US Bank—sends a list to the finance supervisor or director showing trust accounts that are eligible to have bonds paid down (partial paydowns) or paid off completely.
This list was sent to Inframark September 2025 to the then-director of finance, showing that enough funds were available in the trust account to make a paydown on November 1 of $110,000. The decision was made to have the trustee make that paydown, which was more than a partial paydown; it paid off the outstanding balance of the bonds entirely, earlier than May 1, 2026.

Who was notified of this early paydown?
The finance director confirmed the paydown with US Bank.
In the normal course of operations, partial paydowns have no impact other than reducing the outstanding principal and saving interest in the long term.
Periodic partial paydowns do not impact the annual debt assessment levied on each parcel, so nothing changes for the property owners.
In this case, the paydown amount completely satisfied the outstanding principal and should have been communicated to (1) finance staff so the assessment roll would not have included debt assessments on the November 1 tax bills, and (2) the manager to let the Board know debt assessments as adopted in the budget will not be levied on the tax bills.

Recent history of bond payments

Scheduled principal payments made on May 1. Partial prepayments, if any, made November 1.

What if the finance team had been notified in time?
The fiscal year 2026 roll to be levied on the tax bills would not have included debt assessments, only operations and maintenance.
Because excess funds were still held by the trustee, those funds would be refunded to property owners still paying annual debt assessments.
Estimated debt assessment refund: $102.30

What happens now?

Once the remaining collections have been received from the tax collector, Inframark will process refunds and mail checks to each property owner on the November 1, 2026, tax roll.
Annual debt assessments paid: $198.63 per unit (710 parcels)
Estimated debt assessment refund: $300.92

Conclusion

By making this earlier payoff of the Series 2016 bonds, the District realized additional revenues through interest savings, which will be passed on to property owners who were on the roll for the November 1 tax bills.

13-Year Plan for Pond Embankment Repairs

			Year	1	2	3	4	5	6	7	8	9	10	11	12	13	
	2021 Est	2023 Est	Sequence	FY 2024	FY 2025	FY 2026	FY 2027	FY 2028	FY 2029	FY 2030	FY 2031	FY 2032	FY 2033	FY 2034	FY 2035	FY 2036	
																	
Annual Pond Surveys				$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
																	
HL5-B	$	73,260	$	73,260	1	$ 96,676													
HL4-B	$	36,300	$	22,000	1	$ 33,000													
HL4-C	$	71,500	$	56,000	1	$113,200													
153-B	$ 114,400	$ 114,000	1	$146,056													
180-F	$	64,240	$	64,240	1	$ 98,908													
172-A (incl. $3,333 survey)	$ 118,250	$	77,650	2		$ 90,833												
171-D (incl. $3,333 survey)	$ 164,010	$	93,800	2		$122,083												
171-A (incl. $3,333 survey)	$ 111,150	$	64,350	2		$ 78,333												
180-D (600 ft. @ $125/ft.)	$	66,220	$	66,220	2		$141,000												
161- F	$ 117,370	$ 117,370	3			$146,120											
161-A South & West	$ 150,700	$ 107,700	3			$133,481											
191-E	$	66,000	$	27,500	3			$ 49,410											
171-E	$ 206,250	$ 163,000	4				$172,435										
151-I West	$ 251,680	$	79,200	5					$ 84,013									
161-C North	$ 232,430	$	69,300	5					$ 73,512									
153-A	$	41,800	$	38,100	6						$ 40,531								
141-I	$	61,050	$	44,050	6						$ 46,861								
151-H	$ 168,080	$ 168,000	7							$179,257							
	
151-I North		$	39,600	8								$ 42,386						
151-E	$	90,860	$	31,300	8								$ 33,502						
151-J	$	89,430	$	89,430	9								$ 95,722						
161-A North		$	61,900	10									$ 66,473					
161-B	$ 181,830	$	39,325	11									$ 42,230					
161-B with Channel		$	28,600	11									$ 30,713					
161-C South		$ 169,780	12										$182,949				
5-9A-A	$	77,000	$	68,000	13											$ 73,538			
5-9D-D	$	46,200	$	39,600	13											$ 42,825			
141-A	$ 108,200	$	37,125	14												$ 40,300		
151-B	$	63,030	$	47,800	14												$ 51,888		
HL4-A	$	47,960	$	38,100	15													$ 41,521	
151-A	$	41,140	$	32,300	15													$ 35,200	
	
Subtotal Cost	$4,510,800	$2,168,600		$ 487,840	$ 432,250	$ 329,011	$172,435	$157,525	$ 87,392	$179,257	$171,610	$139,416	$182,949	$116,363	$ 92,188	$ 76,721	

Heritage Springs Ponds

Key:
Red - Embankment Repair Completed Blue – Embankment Repair in 2026

151-N

151-D
TWIN LAKES VILLAGE

151-K

151-K

151-K

151-M

PALM BREEZE VILLAGE

161-F

LAKESTONE VILLAGE

GENTLE BREEZE VILLAGE

161-A

141-A	151-F

151-L

151-H

HERITAGE

EGRET LANDING VILLAGE

141-B

TWIN LAKES VILLAGE

151-E

WEDGEWOOD VILLAGE

CLUBHOUSE VILLAGE

151-I

Lined Ponds

ESTATES

152-B

COUNTRY CLUB VILLAGE

141-I

FOUNTAIN VIEW ESTATES

172-A

LAKE FOREST ESTATES

NATURES PLACE VILLAGE

172-C

171-D

CYPRESS BEND ESTATES

SCENIC VIEW ESTATES

EGRET LANDING
191-F VILLAGE 191-E

5-9C

OAKWOOD VILLAGE

SPRING CREST

171-A

180-D

GREEN LEAF VILLAGE 5-9D

151-J

GOLF VIEW ESTATES

Reclaimed Water

151-A

FAIRWAY

153-C

152-C

VILLAGE

173-A

180-E

180-J

SPRINGTREE VILLAGE

5-9A

VILLAGE	LAKESIDE VILLAGE

HL4-B
HL4-A

153-D

153-A

153-B

CYPRESS LOOP VILLAGE

WINDING WILLOW VILLAGE

HL5-B

180-F

DEER RUN VILLAGE

180-G

Heritage Springs CDD 10-Year Annual Budget Projection

ACCOUNT DESCRIPTION	FY 2026	FY 2026	FY 2027	FY 2028	FY 2029	FY 2030	FY 2031	FY 2032	FY 2033	FY 2034	FY 2035	FY 2036	
	Approved	Projected											
REVENUES	Budget												
Interest - Investments (was $68,888 in FY2024)	$	40,000	$	40,000	$	26,500	$	27,295	$	28,114	$	28,957	$	29,826	$	30,721	$	31,642	$	32,592	$	33,569	$	34,576	
Increase to Yearly Assessment Per Lot	$	10	$	10	$	10	$	10	$	10	$	10	$	10	$	-	$	-	$	-	$	-	$	-	
Special Assmnts- Tax Collector	$  526,441	$  526,441	$  539,811	$  553,181	$  566,551	$  579,921	$  593,291	$  593,291	$  593,291	$  593,291	$  593,291	$  593,291	
Special Assmnts- Discounts (See Note 1)	$  (21,058)	$  (21,058)	$  (21,592)	$  (22,127)	$  (22,662)	$  (23,197)	$  (23,732)	$  (23,732)	$  (23,732)	$  (23,732)	$  (23,732)	$  (23,732)	
Interest - Tax Collector		$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Other Miscellaneous Revenues	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
TOTAL REVENUES	$  545,383	$  545,383	$  544,719	$  558,349	$  572,003	$  585,681	$  599,385	$  600,280	$  601,202	$  602,151	$  603,129	$  604,136	
													
EXPENDITURES													
Administrative													
P/R-Board of Supervisors	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	
FICA Taxes	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	
ProfServ-Dissemination Agent	$	1,000	$	1,000	$	1,030	$	1,061	$	1,093	$	1,126	$	1,159	$	1,194	$	1,230	$	1,267	$	1,305	$	1,344	
ProfServ-Engineering	$	55,000	$	55,000	$	56,650	$	58,350	$	60,100	$	61,903	$	63,760	$	65,673	$	67,643	$	69,672	$	71,763	$	73,915	
ProfServ-Legal Services	$	5,000	$	5,000	$	5,000	$	5,150	$	5,305	$	5,464	$	5,628	$	5,796	$	5,970	$	6,149	$	6,334	$	6,524	
ProfServ-Mgmt Consulting	$	39,202	$	39,202	$	40,378	$	41,589	$	42,837	$	44,122	$	45,446	$	46,809	$	48,214	$	49,660	$	51,150	$	52,684	
ProfServ-Property Appraiser	$	150	$	150	$	155	$	159	$	164	$	169	$	174	$	179	$	184	$	190	$	196	$	202	
ProfServ-Special Assessment	$	7,500	$	7,500	$	7,500	$	7,725	$	7,957	$	8,195	$	8,441	$	8,695	$	8,955	$	9,224	$	9,501	$	9,786	
ProfServ-Trustee Fees	$	4,971	$	4,971	$	5,120	$	5,274	$	5,432	$	5,595	$	5,763	$	5,936	$	6,114	$	6,297	$	6,486	$	6,681	
ProfServ-Web Site Maintenance	$	750	$	750	$	773	$	796	$	820	$	844	$	869	$	896	$	922	$	950	$	979	$	1,008	
Auditing Services	$	5,800	$	5,800	$	5,974	$	6,153	$	6,338	$	6,528	$	6,724	$	6,926	$	7,133	$	7,347	$	7,568	$	7,795	
Postage and Freight	$	400	$	400	$	400	$	412	$	424	$	437	$	450	$	464	$	478	$	492	$	507	$	522	
Insurance - General Liability	$	7,000	$	7,000	$	7,000	$	7,210	$	7,426	$	7,649	$	7,879	$	8,115	$	8,358	$	8,609	$	8,867	$	9,133	
Printing and Binding	$	600	$	600	$	600	$	618	$	637	$	656	$	675	$	696	$	716	$	738	$	760	$	783	
Legal Advertising	$	1,600	$	1,600	$	1,600	$	1,648	$	1,697	$	1,748	$	1,801	$	1,855	$	1,910	$	1,968	$	2,027	$	2,088	
Miscellaneous Services	$	1,900	$	1,900	$	1,900	$	1,957	$	2,016	$	2,076	$	2,138	$	2,203	$	2,269	$	2,337	$	2,407	$	2,479	
Misc-Assessment Collection Cost	$	10,528	$	10,528	$	10,529	$	10,845	$	11,170	$	11,505	$	11,850	$	12,206	$	12,572	$	12,949	$	13,338	$	13,738	
Office Supplies	$	100	$	100	$	100	$	103	$	106	$	109	$	113	$	116	$	119	$	123	$	127	$	130	
Annual District Filing Fee	$	175	$	175	$	180	$	186	$	191	$	197	$	203	$	209	$	215	$	222	$	228	$	235	
Total Administrative	$  153,518	$  153,518	$  156,730	$  161,077	$  165,554	$  170,166	$  174,915	$  179,807	$  184,846	$  190,037	$  195,382	$  200,889	
Field													
Contracts - Lakes	$	45,000	$	45,000	$	46,350	$	47,741	$	49,173	$	50,648	$	52,167	$	53,732	$	55,344	$	57,005	$	58,715	$	60,476	
Streetlights - Electricity + Lease	$	46,600	$	46,600	$	46,600	$	46,512	$	46,717	$	46,929	$	47,147	$	47,371	$	47,602	$	47,840	$	48,085	$	48,338	
R&M - Aquascaping	$	5,000	$	5,000	$	5,000	$	5,150	$	5,305	$	5,464	$	5,628	$	5,796	$	5,970	$	6,149	$	6,334	$	6,524	
Weir & Wetland Maintenance	$	36,455	$	36,455	$	36,455	$	38,278	$	40,192	$	42,201	$	44,311	$	46,527	$	48,853	$	51,296	$	53,861	$	56,554	
Misc - Contingency	$	5,600	$	5,600	$	5,600	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	
Infrastructure Repair Projects	$	60,000	$	60,000	$	63,000	$	66,150	$	69,458	$	72,930	$	76,577	$	80,406	$	84,426	$	88,647	$	93,080	$	97,734	
Pond Embankment Repairs (2026 Budget - $193,210)	$  193,210	$  329,011	$  172,435	$  157,525	$	87,392	$  179,257	$  171,610	$  139,416	$  182,949	$  116,363	$	92,188	$	76,721	
Total Field	$  391,865	$  527,666	$  375,439	$  367,355	$  304,236	$  403,429	$  403,440	$  379,248	$  431,145	$  373,301	$  358,262	$  352,347	
TOTAL EXPENDITURES	$  545,383	$  681,183	$  532,170	$  528,432	$  469,790	$  573,594	$  578,355	$  559,055	$  615,991	$  563,337	$  553,644	$  553,235	
													
Excess of Revenues Over Expenditures	$	0	$ (135,800)	$	12,548	$	29,916	$  102,213	$	12,087	$	21,030	$	41,225	$  (14,790)	$	38,814	$	49,485	$	50,901	
													
OTHER FINANCING SOURCES (USES)													
Transfer from Reserve Fund Balance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Contribution to (Use of) Fund Balance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES (USES)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Net change in fund balance	$	-	$ (135,800)	$	12,548	$	29,916	$  102,213	$	12,087	$	21,030	$	41,225	$  (14,790)	$	38,814	$	49,485	$	50,901	
FUND BALANCE, BEGINNING	$  864,536	$  864,536	$  728,735	$  741,283	$  771,200	$  873,412	$  885,499	$  906,530	$  947,755	$  932,965	$  971,779	$ 1,021,264	
FUND BALANCE, ENDING	$  864,536	$  728,736	$  741,283	$  771,200	$  873,412	$  885,499	$  906,530	$  947,755	$  932,965	$  971,779	$ 1,021,264	$ 1,072,164	

13-Year Plan for Pond Bank Repairs
In 2026 Ponds - 161-A South & West, 161-F and 191-E
Yearly $10 Assessment Increase Until 2031
Investment Interest Reduced in 2027 to $26,500 with 3% Annual Growth

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-
2026	2028	2030	2032	2034	2036
End of FY Value
Reserves	Revenues	Expenditures

Heritage Springs CDD 10-Year Annual Budget Projection

ACCOUNT DESCRIPTION	FY 2026	FY 2026	FY 2027	FY 2028	FY 2029	FY 2030	FY 2031	FY 2032	FY 2033	FY 2034	FY 2035	FY 2036	
	Approved	Projected											
REVENUES	Budget												
Interest - Investments (was $68,888 in FY2024)	$	40,000	$	40,000	$	26,500	$	27,295	$	28,114	$	28,957	$	29,826	$	30,721	$	31,642	$	32,592	$	33,569	$	34,576	
Increase to Yearly Assessment Per Lot	$	10	$	10	$	20	$	20	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Special Assmnts- Tax Collector	$  526,441	$  526,441	$  553,181	$  579,921	$  579,921	$  579,921	$  579,921	$  579,921	$  579,921	$  579,921	$  579,921	$  579,921	
Special Assmnts- Discounts (See Note 1)	$  (21,058)	$  (21,058)	$  (22,127)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	$  (23,197)	
Interest - Tax Collector		$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Other Miscellaneous Revenues	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
TOTAL REVENUES	$  545,383	$  545,383	$  557,554	$  584,019	$  584,838	$  585,681	$  586,550	$  587,445	$  588,367	$  589,316	$  590,294	$  591,301	
													
EXPENDITURES													
Administrative													
P/R-Board of Supervisors	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	$	11,000	
FICA Taxes	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	$	842	
ProfServ-Dissemination Agent	$	1,000	$	1,000	$	1,030	$	1,061	$	1,093	$	1,126	$	1,159	$	1,194	$	1,230	$	1,267	$	1,305	$	1,344	
ProfServ-Engineering	$	55,000	$	55,000	$	56,650	$	58,350	$	60,100	$	61,903	$	63,760	$	65,673	$	67,643	$	69,672	$	71,763	$	73,915	
ProfServ-Legal Services	$	5,000	$	5,000	$	5,000	$	5,150	$	5,305	$	5,464	$	5,628	$	5,796	$	5,970	$	6,149	$	6,334	$	6,524	
ProfServ-Mgmt Consulting	$	39,202	$	39,202	$	40,378	$	41,589	$	42,837	$	44,122	$	45,446	$	46,809	$	48,214	$	49,660	$	51,150	$	52,684	
ProfServ-Property Appraiser	$	150	$	150	$	155	$	159	$	164	$	169	$	174	$	179	$	184	$	190	$	196	$	202	
ProfServ-Special Assessment	$	7,500	$	7,500	$	7,500	$	7,725	$	7,957	$	8,195	$	8,441	$	8,695	$	8,955	$	9,224	$	9,501	$	9,786	
ProfServ-Trustee Fees	$	4,971	$	4,971	$	5,120	$	5,274	$	5,432	$	5,595	$	5,763	$	5,936	$	6,114	$	6,297	$	6,486	$	6,681	
ProfServ-Web Site Maintenance	$	750	$	750	$	773	$	796	$	820	$	844	$	869	$	896	$	922	$	950	$	979	$	1,008	
Auditing Services	$	5,800	$	5,800	$	5,974	$	6,153	$	6,338	$	6,528	$	6,724	$	6,926	$	7,133	$	7,347	$	7,568	$	7,795	
Postage and Freight	$	400	$	400	$	400	$	412	$	424	$	437	$	450	$	464	$	478	$	492	$	507	$	522	
Insurance - General Liability	$	7,000	$	7,000	$	7,000	$	7,210	$	7,426	$	7,649	$	7,879	$	8,115	$	8,358	$	8,609	$	8,867	$	9,133	
Printing and Binding	$	600	$	600	$	600	$	618	$	637	$	656	$	675	$	696	$	716	$	738	$	760	$	783	
Legal Advertising	$	1,600	$	1,600	$	1,600	$	1,648	$	1,697	$	1,748	$	1,801	$	1,855	$	1,910	$	1,968	$	2,027	$	2,088	
Miscellaneous Services	$	1,900	$	1,900	$	1,900	$	1,957	$	2,016	$	2,076	$	2,138	$	2,203	$	2,269	$	2,337	$	2,407	$	2,479	
Misc-Assessment Collection Cost	$	10,528	$	10,528	$	10,529	$	10,845	$	11,170	$	11,505	$	11,850	$	12,206	$	12,572	$	12,949	$	13,338	$	13,738	
Office Supplies	$	100	$	100	$	100	$	103	$	106	$	109	$	113	$	116	$	119	$	123	$	127	$	130	
Annual District Filing Fee	$	175	$	175	$	180	$	186	$	191	$	197	$	203	$	209	$	215	$	222	$	228	$	235	
Total Administrative	$  153,518	$  153,518	$  156,730	$  161,077	$  165,554	$  170,166	$  174,915	$  179,807	$  184,846	$  190,037	$  195,382	$  200,889	
Field													
Contracts - Lakes	$	45,000	$	45,000	$	46,350	$	47,741	$	49,173	$	50,648	$	52,167	$	53,732	$	55,344	$	57,005	$	58,715	$	60,476	
Streetlights - Electricity + Lease	$	46,600	$	46,600	$	46,600	$	46,512	$	46,717	$	46,929	$	47,147	$	47,371	$	47,602	$	47,840	$	48,085	$	48,338	
R&M - Aquascaping	$	5,000	$	5,000	$	5,000	$	5,150	$	5,305	$	5,464	$	5,628	$	5,796	$	5,970	$	6,149	$	6,334	$	6,524	
Weir & Wetland Maintenance	$	36,455	$	36,455	$	36,455	$	38,278	$	40,192	$	42,201	$	44,311	$	46,527	$	48,853	$	51,296	$	53,861	$	56,554	
Misc - Contingency	$	5,600	$	5,600	$	5,600	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	$	6,000	
Infrastructure Repair Projects	$	60,000	$	60,000	$	63,000	$	66,150	$	69,458	$	72,930	$	76,577	$	80,406	$	84,426	$	88,647	$	93,080	$	97,734	
Pond Embankment Repairs (2026 Budget - $193,210)	$  193,210	$  329,011	$  172,435	$  157,525	$	87,392	$  179,257	$  171,610	$  139,416	$  182,949	$  116,363	$	92,188	$	76,721	
Total Field	$  391,865	$  527,666	$  375,439	$  367,355	$  304,236	$  403,429	$  403,440	$  379,248	$  431,145	$  373,301	$  358,262	$  352,347	
TOTAL EXPENDITURES	$  545,383	$  681,183	$  532,170	$  528,432	$  469,790	$  573,594	$  578,355	$  559,055	$  615,991	$  563,337	$  553,644	$  553,235	
													
Excess of Revenues Over Expenditures	$	0	$ (135,800)	$	25,383	$	55,587	$  115,048	$	12,087	$	8,195	$	28,390	$  (27,625)	$	25,979	$	36,650	$	38,066	
													
OTHER FINANCING SOURCES (USES)													
Transfer from Reserve Fund Balance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Contribution to (Use of) Fund Balance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES (USES)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Net change in fund balance	$	-	$ (135,800)	$	25,383	$	55,587	$  115,048	$	12,087	$	8,195	$	28,390	$  (27,625)	$	25,979	$	36,650	$	38,066	
FUND BALANCE, BEGINNING	$  864,536	$  864,536	$  728,735	$  754,118	$  809,705	$  924,753	$  936,840	$  945,036	$  973,425	$  945,800	$  971,779	$ 1,008,429	
FUND BALANCE, ENDING	$  864,536	$  728,736	$  754,118	$  809,705	$  924,753	$  936,840	$  945,036	$  973,425	$  945,800	$  971,779	$ 1,008,429	$ 1,046,494	

13-Year Plan for Pond Bank Repairs
In 2026 Ponds - 161-A West, 161-A South & 161-F
$20 Assessment Increase in 2027 & 2028 – None Afterwards
Investment Interest Reduced in 2027 to $26,500 with 3% Annual Growth

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$-
2026	2028	2030	2032	2034	2036
End of FY Value
Reserves	Revenues	Expenditures