Heritage Springs Community Development District

FISCAL YEAR 2027 PROPOSED BUDGET
May 18, 2026

Heritage Springs

Community Development District

Table of Contents

				Page #	

OPERATING BUDGET					
General Fund					
Summary of Revenues, Expenditures and Changes in Fund Balances	……………………………..	1-2	
Exhibit A - Allocation of Fund Balances	………………………………………………………………….	3	
Budget Narrative	……………………………………………………………………………………………	4-10	

SUPPORTING BUDGET SCHEDULE	
Comparison of Assessment Rates	………………………………………………………..	11	

Heritage Springs
Community Development District

Operating Budget
FY 2027

Heritage Springs

Community Development District	General Fund

		Summary	of	Revenues Expenditures and Changes
Fiscal Year 2027 Budget
General Fund 001	in	Fund Balance			
			
ADOPTED	ACTUAL	PROJECTED		
TOTAL		ANNUAL BUDGET	
			BUDGET	THRU	May-		PROJECTED	% +/(-)		
ACCOUNT	DESCRIPTION		FY 2026	4/30/2026	9/30/2026		FY 2026	Budget	FY 2027	

REVENUES									
Interest - Investments		$40,000.00	$23,441.00	$16,559.00		$40,000.00	0%	$40,000.00	
Special Assmnts- Tax Collector
Special Assmnts- Discounts Interest - Tax Collector		$526,441.00
-$21,058.00
$0.00	$521,034.00
-$19,742.00
$553.00	$5,407.00
$0.00
$0.00		$526,441.00
-$19,742.00
$553.00	0%
-6%
0%	$540,271.81
-$21,610.87
$0.00	
TOTAL	REVENUES		$545,383.00	$525,286.00	$21,966.00		$547,252.00	0%	$558,660.94	

EXPENDITURES									

Administrative									
P/R-Board of Supervisors
FICA Taxes		$11,000.00
$842.00	$6,600.00
$444.00	$4,400.00
$398.00		$11,000.00
$842.00	0%
0%	$11,000.00
$841.50	
ProfServ-Dissemination Agent ProfServ-Engineering ProfServ-Legal Services ProfServ-Mgmt Consulting ProfServ-Property Appraiser ProfServ-Special Assessment
ProfServ-Trustee Fees		$1,000.00
$55,000.00
$5,000.00
$39,202.00
$150.00
$7,500.00
$4,971.00	$0.00
$36,615.00
$2,472.00
$22,868.00
$0.00
$7,500.00
$0.00	$1,000.00
$18,385.00
$2,528.00
$16,334.00
$150.00
$0.00
$4,971.00		$1,000.00
$55,000.00
$5,000.00
$39,202.00
$150.00
$7,500.00
$4,971.00	0%
0%
0%
0%
0%
0%
0%	$1,000.00
$55,000.00
$5,000.00
$40,378.00
$150.00
$7,500.00
$4,971.00	
ProfServ-Web Site Maintenance		$750.00	$0.00	$750.00		$750.00	0%	$750.00	
Auditing Services Postage and Freight
Insurance - General Liability Printing and Binding
Legal Advertising
Miscellaneous Services		$5,800.00
$400.00
$7,000.00
$600.00
$1,600.00
$1,900.00	$5,700.00
$156.00
$7,666.00
$540.00
$0.00
$381.00	$100.00
$244.00
$0.00
$60.00
$1,600.00
$1,519.00		$5,800.00
$400.00
$7,666.00
$600.00
$1,600.00
$1,900.00	0%
0%
10%
0%
0%
0%	$5,800.00
$400.00
$8,000.00
$800.00
$1,600.00
$1,900.00	
Misc-Assessment Collection Cost		$10,528.00	$10,026.00	$502.00		$10,528.00	0%	$10,805.44	
Office Supplies
Annual District Filing Fee
Total Administrative		$100.00
$175.00	$0.00
$175.00	$100.00
$0.00		$100.00
$175.00	0%
0%	$100.00
$175.00	
		$153,518.00	$101,143.00	$53,041.00		$154,184.00	0%	$156,170.94	

Annual Operating and Debt Service Budget
1

Heritage Springs

Community Development District	General Fund

		ADOPTED	ACTUAL	PROJECTED	TOTAL		ANNUAL
BUDGET	
		BUDGET	THRU	May-	PROJECTED	% +/(-)		
ACCOUNT DESCRIPTION	FY 2026	4/30/2026	9/30/2026	FY 2026	Budget	FY 2027	

Field				
$0.00	
$0.00	
0%	
$0.00	
Contracts-Lakes	$45,000.00	$26,106.00	$18,894.00	$45,000.00	0%	$45,000.00	
Electricity - Streetlights R&M-Aquascaping
Weir and Wetland Maintenance	$46,600.00
$5,000.00
$36,455.00	$28,228.00
$0.00
$0.00	$18,372.00
$5,000.00
$36,455.00	$46,600.00
$5,000.00
$36,455.00	0%
0%
0%	$46,600.00
$5,000.00
$31,310.00	
Misc-Contingency Infrastructure Repair
Pond Bank Repairs & Maintenance	$5,600.00
$60,000.00
$193,210.00	$0.00
$7,800.00
$162,793.00	$5,600.00
$52,200.00
$30,417.00	$5,600.00
$60,000.00
$193,210.00	0%
0%
0%	$0.00
$55,000.00
$219,580.00	
Total Field	$391,865.00	$224,927.00	$166,938.00	$391,865.00	0%	$402,490.00	
							
TOTAL	EXPENDITURES	$545,383.00	$326,070.00	$219,979.00	$546,049.00	0%	$558,660.94	

Excess (deficiency) of revenues Over (under) expenditures	

$0.00	

$199,216.00	

-$198,013.00	

$1,203.00	

0%	

$0.00	

Net change in fund balance		

$199,216.00	

-$198,013.00	

$1,203.00	

0%	

$0.00	

FUND BALANCE, BEGINNING	
$864,538.00	
$864,538.00	
$0.00	
$864,538.00	
0%	
$865,741.00	
FUND BALANCE, ENDING	$864,538.00	$1,063,754.00	-$198,013.00	$865,741.00	0%	$865,741.00	

Annual Operating and Debt Service Budget
2

Heritage Springs

Community Development District

Exhibit "A"
Allocation of Fund Balances

FISCAL YEAR 2026 RESERVE FUND ANALYSIS

Beginning Fund Balance - Carry Forward Surplus as of 10/1/2025	$864,538.00 Less: Forecasted Surplus/(Deficit) as of 9/30/2026		$1,203.00

Estimated Funds Available - 9/30/2026	$865,741.00

FISCAL YEAR 2027 RESERVE FUND ANALYSIS

Beginning Fund Balance - Carry Forward Surplus as of 10/1/2026 (1)	$865,741.00

Less: First Quarter Operating Reserve	-$139,665.23

Less: Designated Reserves for Capital Projects	$0.00

Less: Forecasted Surplus/(Deficit) as of 9/30/2027	$0.00

Estimated Remaining Undesignated Cash as of 9/30/2027	$726,075.77

Notes

(1) Represents approximately 3 months of operating expenditures

Annual Operating and Debt Service Budget

3

Heritage Springs
Community Development District	General Fund

Budget Narrative
Fiscal Year 2027

REVENUES

Interest-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 Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments only when collected by the Tax Collector. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

Other Miscellaneous Revenues
Additional revenue sources not otherwise specified by other categories.

EXPENDITURES

Administrative

Supervisor Fees and 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.

Heritage Springs
Community Development District	General Fund

Budget Narrative
Fiscal Year 2027

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 Fees
The District issued Series 2006 Special Assessment Bond that is deposited with a Trustee to handle all trustee matters. The annual trustee fee is 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 Egis Insurance Advisors, LLC. The budgeted amount allows for a projected increase in the premium.

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

Heritage Springs
Community Development District	General Fund

Budget Narrative
Fiscal Year 2027

Field

Contracts-Lakes
Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.
Electricity – Streetlights
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.

Infrastructure Repair
Costs associated with repairs pertaining to the district’s infrastructure.

Pond Bank Repairs & Maintenance
Costs associated with repairs and maintenance to pond banks within the district.

Heritage Springs
Community Development District

Supporting Budget Schedule
FY 2027

8

HERITAGE SPRINGS

Community Development District	All Funds
Comparison of Assessment Rates Fiscal Year 2027 vs. Fiscal Year 2026

Bond Series	General Fund		Total Assessments per Unit	Units		
	FY 2027	FY 2026	Percent
Change	FY 2027	FY 2026	Dollar
Change	Percent
Change	On-Roll		Prepaid
Units	GF
Total	

2006	
$404.09	
$393.75	
2.6%	
$404.09	
$393.75	
$10.34	
2.6%	
739		
29	
$298,624.43	
2008	$404.09	$393.75	2.6%	$404.09	$393.75	$10.34	2.6%	598			0		$241,647.38	
							1,337		29	$540,271.81	

Annual Operating and Debt Service Budget
11