Heritage Springs Community Development District

May 18, 2026

Agenda Package

2005 PAN AM CIRCLE, SUITE 300
TAMPA, FL 33706

Page 1

Heritage Springs Community Development District

Board of Supervisors
Steven Wertovitch, Chairman Joe Depompa, Vice Chairperson
Robert Johnstone, Assistant Secretary Gary Rider, Assistant Secretary Richard Waugh, Assistant Secretary

District Staff
Howard Neal, District Manager Cari Webster, District Counsel Robert
Dvorak, District Engineer Jason Liggett, Field Service Manager Sandra MacGregor, District Accountant Melissa Williams, District Admin

Regular Meeting Agenda
Monday, May 18, 2026, at 2:30 p.m.

The Regular Meeting of the Heritage Springs Community Development District will be held on May 18, 2026, at the Heritage Springs Community Clubhouse, 11345 Robert Trent Jones Parkway, New Port Richey, FL, 34655 at 2:30 p.m. Please let us
know at least 24 hours in advance if you are planning to call into the meeting. Following is the Agenda for the Meeting:

THE REGULAR MEETING OF BOARD OF SUPERVISORS

1.
2.

CALL TO ORDER/ROLL CALL PUBLIC COMMENTS
(Each individual has the opportunity to comment and is limited to three (3) minutes for such comment)
BUSINESS ITEMS
Presentation of Bond Payoff Process (Series 2008)	Page 3
Approval of the Regular Meeting Minutes held on April 20, 2026	Page 5
Consideration of Resolution 2026-04; Approving Proposed Budget and Setting Public Hearing	Page 9
Announcing of the Registered Voter Count	Page 10
STAFF REPORTS
District Accountant
i. Approval of April 2026 Financial Statements	Page 11
District Engineer
District Manager
MAINTENANCE ITEMS
BOARD OF SUPERVISORS REQUESTS AND COMMENTS ADJOURNMENT

3.

4.

5.
6.
7.

The next meeting is scheduled for June 15, 2026, at 2:30 p.m.

Page 2

Heritage Springs CDD
SERIES 2008 BONDS
Presented by Inframark, Finance

Page 3

Summary of Series 2008 Bonds

The bonds matured May 1, 2021.
No early paydowns or prepayments caused the bonds to mature prior to May 1, 2021.
Annual debt assessments were initially levied at $168.54 per parcel
to 598 properties, 40 of which paid off early.
Fiscal year 2021, annual debt assessments were reduced to $77.06.
The remaining balance in the trust account after the final payments were made on May 1, 2021: $5,697
This amount earned a bit of interest between payoff and fund transfer.
$5,782 was transferred to the operating account (general fund), as shown in the adopted budget for fiscal year 2022.

Page 4

MINUTES OF MEETING HERITAGE SPRINGS
COMMUNITY DEVELOPMENT DISTRICT

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The regular meeting of the Board of Supervisors of the Heritage Springs Community Development District was held on Monday, April 20, 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.

Present and constituting a quorum were:

Steven Wertovitch Joe DePompa Gary Rider Richard Waugh Robert Johnstone

Chairperson
Vice Chairperson Assistant Secretary Assistant Secretary Assistant Secretary

Also, present were either in person, video (TEAMs) or voice conference call:

Wesley Elias Kirk Wagner
Sandra MacGregor Brenda Burgess Katelyn Sutter Jessica Weightman

District Manager District Engineer District Accountant
Finance Supervisor, Inframark Finance, Inframark
CLS

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.

FIRST ORDER OF BUSINESS

Call to Order and Roll Call

Mr. Elias called the meeting to order, and a quorum was established.

SECOND ORDER OF BUSINESS
There were no audience comments.

Audience Comments

THIRD ORDER OF BUSINESS

Business Administration

A. Approval of Regular Meeting Minutes held on March 16, 2026

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Page 5

On MOTION by Mr. Wertovitch, seconded by Mr. DePompa with all in favor, the Meeting Minutes for March 16, 2026, was approved. 5-0

Heritage Springs CDD April 20, 2026, Meeting

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4590
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FOURTH ORDER OF BUSINESS
A. District Accountant

Staff Reports

i.

Acceptance of March 2026 Financial Statements
The Accountant reported that approximately 96% of Assessments have been collected. The district had utilized up 46% of the Fiscal Year 2026 budget through the current reporting period.

B. District Engineer
Mr. Wagner provided updates on current projects. Discussion ensued regarding Pond 161-F, including pond elevation levels and matching visible rock placement.
Discussion ensued regarding Pond 161-C, where a canal located behind the Heritage Springs Community was reported to be causing a depression area. Mr. Wagner stated follow-up would be conducted.
Regarding Pond 191-E, discussion was held on the scope of work and differing benchmarks.
Further discussion was held regarding Pond 161-A and the need for additional stones on the East end. Mr. Wertovitch presented a change order to the scope of work for pond
161-A in the amount of $14,901.68.

C. District Manager
Mr. Elias informed the Board that an invoice had been reclassified to the appropriate category. Follow-up with Duke Energy regarding the current lease agreement was also discussed.
Mr. Elias reminded the Board that the regular meeting will be on Monday, May 18,
2026, at 2:30 p.m.

FIFTH ORDER OF BUSINESS

Business Items

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Page 6

On MOTION by Mr. Wertovitch, seconded by Mr. Johnstone with all in favor, the change order for Pond 161-A in the amount of $14,901.68 was approved. 5-0

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

Heritage Springs CDD April 20, 2026, Meeting

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A.

Presentation of Bond Payoff Process (Series 2016)

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Presentation regarding the Bond payoff process and the determination to pay Bonds

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early. Discussion ensued regarding whether the same process could be utilized for

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other Bond series. The Board advised future notifications would be provided in

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advance.

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B.

Presentation of the Fiscal Year 2027 Proposed Budget

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A preliminary Fiscal Year 2027 Budget discussion was held. Sample budget scenarios

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were presented, including a slight increase to ensure future projects are adequately

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funded and District reserves remain sufficient for anticipated expenses.

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Board consensus supported the sample budget scenario as presented with a $10 annual

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increase per homeowner. The Board also requested an updated pond assessment from

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BDI.

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SIXTH ORDER OF BUSINESS

Maintenance Items

Mr. DePompa provided an update regarding ongoing maintenance projects and projected expenses. Several areas requiring attention were discussed, including Area 151-L, where
substantial cleanup was needed.

SEVENTH ORDER OF BUSINESS

Board

of

Supervisors’

Requests	or

Comments
Mr. Wertovitch updated the Board regarding correspondence received from real estate agents. The Board also noted the District website was missing meeting minutes after September 2024, and District Management was directed to follow up and ensure the website records were updated accordingly.
Mr. Elias was further directed to follow up regarding reimbursement to Mr. Wertovitch.

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On MOTION by Mr. DePompa, seconded by Mr. Johnstone with all in favor, an amount not-to-exceed of $10,000 for cleanup of Area 151-L was approved. 5-0

Heritage Springs CDD April 20, 2026, Meeting

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EIGHTH ORDER OF BUSINESS
There being no further business,

Adjournment

Steven Wertovitch Chairperson

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Page 8

On MOTION by Mr. Johnstone, seconded by Mr. Waugh, with all in favor, the meeting was adjourned at 5:58 p.m. 5-0

RESOLUTION 2026-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE HERITAGE

SPRINGS

COMMUNITY	DEVELOPMENT

DISTRICT	APPROVING

A

PROPOSED OPERATION AND MAINTENANCE BUDGET FOR FISCAL YEAR

2026/2027;	SETTING	A	PUBLIC	HEARING	THEREON	PURSUANT	TO

FLORIDA

LAW;

ADDRESSING

TRANSMITTAL,

POSTING,

AND

PUBLICATION REQUIREMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Heritage Springs Community Development District (“District”) prior to June 15, 2026, a proposed operation and maintenance budget for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“Proposed Budget”); and

WHEREAS, the Board has considered the Proposed Budget and desires to approve the Proposed Budget and set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF THE DISTRICT:

1.

Proposed Budget Approved. The Proposed Budget, including any modifications made by the Board, attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

2.

Setting a Public Hearing. The public hearing on said Proposed Budget is hereby declared and set for Monday, August 17, 2026, at 2:30 p.m. at the Heritage Springs Community Clubhouse located at 11345 Robert Trent Jones Parkway, New Port Richey, Florida 34655.

3.

Transmittal of Proposed Budget to Local General Purpose Government.

The District

Manager is hereby directed to submit a copy of the Proposed Budget to Pasco County at least 60 days prior to the hearing set above.

4.

Posting of Proposed Budget. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the Proposed Budget on the District’s website at least 2 days before the budget hearing date and shall remain on the website for at least 45 days.

5.

Publication of Notice. Notice of this public hearing shall be published in the manner prescribed by Florida law.

6.

Effective Date. This Resolution shall take effect immediately upon adoption.

Passed and Adopted on May 18, 2026.

Attested By:

Heritage Springs
Community Development District

Print Name:	
Secretary/Assistant Secretary

Print Name:	
Chair/Vice Chair of the Board of Supervisors

Exhibit A:

Proposed Budget for Fiscal Year 2026/2027

Page 9

4901-3390-0441, v. 1

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Heritage Springs Community Development District

Financial Report

April 30, 2026

Page 11

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 General Fund

………………………………………………….

Page 7

Bank Reconciliation Trust

………………………………………………….

Page 8

O & M Report with Invoices

………………………………………………….

Page 9

Page 12

Heritage Springs
Community Development District

Financial Statements
(Unaudited)

April 30, 2026

Page 13

HERITAGE SPRINGS
Community Development District

Governmental Funds

Balance Sheet
April 30, 2026

SERIES 2006 DEBT SERVICE FUND

GENERAL FUND

TOTAL

ACCOUNT DESCRIPTION

ASSETS
Cash - Checking Account Investments:
Money Market Account Interest Account A Prepayment Account A Reserve Fund
Revenue Fund

$

104,682

$

8,337

$

113,019

963,072
-
-
-
-

- 13
323
56,444
154,618

963,072
13
323
56,444
154,618

LIABILITIES
Accounts Payable Accrued Expenses

$

-
4,000

$

-
-

$

-
4,000

FUND BALANCES
Restricted for:
Debt Service
Assigned to:
Operating Reserves Reserves - Ponds
Unassigned:

-

219,735

219,735

136,346
805,206
122,202

-
-
-

136,346
805,206
122,202

Page 14

1

TOTAL LIABILITIES & FUND BALANCES	$	1,067,754	$	219,735	$	1,287,489

TOTAL FUND BALANCES	$	1,063,754	$	219,735	$	1,283,489

TOTAL LIABILITIES	4,000	-	4,000

TOTAL ASSETS	$	1,067,754	$	219,735	$	1,287,489

HERITAGE SPRINGS
Community Development District

General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending April 30, 2026

ANNUAL ADOPTED BUDGET

YTD ACTUAL AS A % OF ADOPTED BUD

YEAR TO DATE BUDGET

YEAR TO DATE ACTUAL

VARIANCE ($) FAV(UNFAV)

ACCOUNT DESCRIPTION

REVENUES

Interest - Investments Interest - Tax Collector
Special Assmnts- Tax Collector
Special Assmnts- Discounts

$

40,000
- 526,441
(21,058)

$

23,333
- 526,441
(21,058)

$

23,441
553
521,034
(19,742)

$

108
553
(5,407)
1,316

58.60%
0.00%
98.97%
93.75%

EXPENDITURES

Administration
P/R-Board of Supervisors FICA Taxes
ProfServ-Dissemination Agent ProfServ-Engineering ProfServ-Legal Services ProfServ-Mgmt Consulting ProfServ-Property Appraiser ProfServ-Special Assessment ProfServ-Trustee Fees
ProfServ-Web Site Maintenance Auditing Services
Postage and Freight Insurance - General Liability Printing and Binding
Legal Advertising Miscellaneous Services
Misc-Assessment Collection Cost Office Supplies
Annual District Filing Fee
Total Administration

11,000
842
1,000
55,000
5,000
39,202
150
7,500
4,971
750
5,800
400
7,000
600
1,600
1,900
10,528
100
175

6,417
491
- 32,083
2,917
22,868
150
7,500
4,971
750
5,800
233
7,000
350
800
1,108
10,528
58
175

6,600
444
- 36,615
2,472
22,868
- 7,500
-
- 5,700
156
7,666
540
- 381
10,026
- 175

(183)
47
- (4,532)
445
- 150
- 4,971
750
100
77
(666)
(190)
800
727
502
58
-

60.00%
52.73%
0.00%
66.57%
49.44%
58.33%
0.00%
100.00%
0.00%
0.00%
98.28%
39.00%
109.51%
90.00%
0.00%
20.05%
95.23%
0.00%
100.00%

153,518

104,199

101,143

3,056

65.88%

Field
Contracts-Lakes Electricity - Streetlights R&M-Aquascaping
Weir and Wetland Maintenance Misc-Contingency  Infrastructure Repair
Pond Bank Repairs & Maintenance
Total Field

45,000
46,600
5,000
36,455
5,600
60,000
193,210

26,250
27,183
5,000
21,265
3,267
35,000
112,706

26,106
28,228
-
-
- 7,800
162,793

144
(1,045)
5,000
21,265
3,267
27,200
(50,087)

58.01%
60.58%
0.00%
0.00%
0.00%
13.00%
84.26%

391,865

230,671

224,927

5,744

57.40%

Page 15

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TOTAL EXPENDITURES	545,383	334,870	326,070	8,800	59.79%

TOTAL REVENUES	545,383	528,716	525,286	(3,430)	96.32%

HERITAGE SPRINGS
Community Development District

General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending April 30, 2026

ANNUAL ADOPTED BUDGET

YTD ACTUAL AS A % OF ADOPTED BUD

YEAR TO DATE BUDGET

YEAR TO DATE ACTUAL

VARIANCE ($) FAV(UNFAV)

ACCOUNT DESCRIPTION

Excess (deficiency) of revenues
Over (under) expenditures

-

193,846

199,216

5,370

0.00%

Net change in fund balance

$

-

$

193,846

$

199,216

$

5,370

0.00%

FUND BALANCE, BEGINNING (OCT 1, 2025)

864,538

864,538

864,538

FUND BALANCE, ENDING

$

864,538

$

1,058,384

$

1,063,754

Page 16

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HERITAGE SPRINGS
Community Development District

Series 2006 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending April 30, 2026

ANNUAL ADOPTED BUDGET

YTD ACTUAL AS A % OF ADOPTED BUD

YEAR TO DATE BUDGET

YEAR TO DATE ACTUAL

VARIANCE ($) FAV(UNFAV)

ACCOUNT DESCRIPTION

REVENUES

Interest - Investments
Special Assmnts- Tax Collector Special Assmnts- Discounts

$

- 141,027
(5,641)

$

- 141,027
(5,641)

$

3,120
139,578
(5,289)

$

3,120
(1,449)
352

0.00%
98.97%
93.76%

EXPENDITURES

Administration
Misc-Assessment Collection Cost
Total Administration

2,821

2,821

2,686

135

95.21%

2,821

2,821

2,686

135

95.21%

Debt Service
Debt Retirement Series A Interest Expense Series A
Total Debt Service

105,000
5,513

105,000
2,888

110,000
2,888

(5,000)
-

104.76%
52.39%

110,513

107,888

112,888

(5,000)

102.15%

Excess (deficiency) of revenues
Over (under) expenditures

22,052

24,677

21,835

(2,842)

99.02%

Net change in fund balance

$

22,052

$

24,677

$

21,835

$

(2,842)

99.02%

FUND BALANCE, BEGINNING (OCT 1, 2025)

197,900

197,900

197,900

FUND BALANCE, ENDING

$

219,952

$

222,577

$

219,735

Page 17

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TOTAL EXPENDITURES	113,334	110,709	115,574	(4,865)	101.98%

TOTAL REVENUES	135,386	135,386	137,409	2,023	101.49%

Heritage Springs
Community Development District

Supporting Schedules

April 30, 2026

Page 18

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

% COLLECTED

99%

99%

99%

Page 19

5

TOTAL OUTSTANDING	$	6,859	$	5,410	$	1,449

ALLOCATION BY FUND

Discount /	Gross
Date	Net Amount	(Penalties)	Collection		Amount Received		Received		Amount		Costs	Received

General Fund

Series 2006
Debt Service

Assessments Levied	$	667,471
Allocation %	100%

11/06/25	$	17,024	$	964	$	347	$	18,335
11/14/25	$	108,170	$	4,599	$	2,208	$	114,976
11/20/25	$	95,952	$	4,080	$	1,958	$	101,990
11/26/25	$	47,989	$	2,036	$	979	$	51,004
12/05/25	$	229,545	$	9,760	$	4,685	$	243,989
12/11/25	$	44,246	$	1,854	$	903	$	47,003
12/18/25	$	19,618	$	715	$	400	$	20,733
01/09/26	$	20,878	$	655	$	426	$	21,959
02/11/26	$	12,713	$	287	$	259	$	13,260
03/12/26	$	7,314	$	75	$	149	$	7,538
04/09/26	$	19,423	$	6	$	396	$	19,825

$	526,444
79%

$	14,461
$	90,684
$	80,441
$	40,228
$	192,438
$	37,072
$	16,352
$	17,320
$	10,458
$	5,946
$	15,636

$	141,027
21%

$	3,874
$	24,293
$	21,549
$	10,776
$	51,551
$	9,931
$	4,380
$	4,640
$	2,802
$	1,593
$	4,189

TOTAL	$	622,870	$	25,030	$	12,712	$	660,612

$	521,034

$	139,578

HERITAGE SPRINGS
Community Development District

Cash and Investment Report
April 30, 2026

Account Name
Checking Acct - Operating

Bank Name
Valley Bank

Investment Type
Gov't Interest Checking

Maturity
n/a

Yield
3.56%

Balance
104,682

$

Checking Acct - Trust

Valley Bank

Gov't Interest Checking

n/a

3.56%

$

8,337

Public Funds Money Market

Bank United

MMA - #0143

n/a

3.40%

963,072

GF Total

$

1,076,091

Account Name
Series 2006 Interest A Fund

Bank Name
US Bank

Investment Type
Government Obligation Fund

Maturity
n/a

Yield
3.27%

Balance
13

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%

154,618

DS Total

$

211,398

Total Cash & Investments

$

1,287,489

Page 20

6

Debt Service Fund

General Fund

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7

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8

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9

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