Adopted Budget
Fiscal Year 2021

Heron Isles Community Development District

August 6, 2020

Heron Isles
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2 - 6

Debt Service Fund
Budget - Series 2017A1/A2	Page 7
Amortization Schedule - 2017A1	Page 8
Amortization Schedule - 2017A2	Page 9

Capital Reserves	Page 10

Heron Isles
Community Development District										

General Fund	
		Adopted		Actual		Projected		Total		Adopted	
		Budget		Thru		Next		Projected		Budget	
 Description			 	FY 2020			 	6/30/20			 	3 Months			 	9/30/20			 	FY 2021		
Revenues											
Assessments - On Roll		$412,343		$417,983		$0		$417,983		$412,343	
Interest IncomeMiscellaneous Income		$400		$35,858		$6		$35,864		$400	
Access Key Cards		$100		$0		$0		$0		$100	
Carryforward Surplus		$650		$0		$0		$0		$0	
 TOTAL REVENUES			 	$413,494 		 	$453,841 		 	$6 		 	$453,847 		 	$412,843 	
Expenditures											
Administrative											
Supervisor Fees		$6,000		$2,800		$1,000		$3,800		$6,000	
FICA Expense		$459		$214		$77		$291		$459	
Engineering		$5,000		$0		$1,000		$1,000		$4,000	
Assessment Roll		$7,500		$7,500		$0		$7,500		$7,500	
Dissemination		$1,500		$1,125		$1,125		$2,250		$1,500	
Attorney		$15,000		$6,516		$5,484		$12,000		$15,000	
Annual Audit		$3,250		$3,250		$0		$3,250		$3,250	
Trustee Fees		$3,800		$0		$3,717		$3,717		$3,800	
Management Fees		$45,423		$34,067		$11,356		$45,423		$45,423	
Computer Time		$1,000		$750		$250		$1,000		$1,000	
Website Compliance		$1,700		$375		$125		$500		$1,700	
Telephone		$200		$55		$145		$200		$200	
Postage		$800		$413		$200		$613		$800	
Printing & Binding		$1,500		$505		$300		$805		$1,500	
Rental & Leases		$120		$0		$0		$0		$120	
Meeting Room Rental		$1,000		$639		$40		$679		$1,000	
Insurance		$11,196		$12,390		$0		$12,390		$13,629	
Legal Advertising		$5,350		$1,991		$3,359		$5,350		$5,350	
Other Current Charges		$7,000		$6,461		$150		$6,611		$7,000	
Property Tax		$0		$3,601		$0		$3,601		$0	
Office Supplies		$100		$48		$20		$68		$100	
Dues, Licenses & Subscriptions		$175		$175		$0		$175		$175	
TOTAL ADMINISTRATIVE EXPENDITURES		$118,073		$82,877		$28,348		$111,224		$119,506	

UTILITIES:
Electric		

$31,740		

$18,345		

$6,080		

$24,425		

$31,740	
Water & Sewer		 	$44,064 		 	$46,065 		 	$15,621 		 	$61,686 		 	$64,000 	
SUBTOTAL UTILITIES		 	$75,804 		 	$64,410 		 	$21,701 		 	$86,111 		 	$95,740 	
CONTRACT SERVICES
Landscape Maintenance		
$60,852		
$45,639		
$15,213		
$60,852		
$60,852	
Landscape Contingency		$15,000		$5,974		$3,000		$8,974		$15,000	
Irrigation Maintenance		$3,000		$2,899		$101		$3,000		$3,000	
Lake Maintenance		$12,900		$9,675		$3,225		$12,900		$12,900	
Janitorial Services		$7,200		$4,350		$2,850		$7,200		$7,200	
Trash Removal Services		$7,440		$4,500		$1,500		$6,000		$7,440	
Management Company		$9,000		$6,750		$2,250		$9,000		$11,220	
Pest Control Services		$225		$241		$0		$241		$250	
Holiday Decorations		 	$1,500 		 	$0 		 	$1,500 		 	$1,500 		 	$1,500 	
SUBTOTAL CONTRACT SERVICES		 	$117,117 		 	$80,028 		 	$29,639 		 	$109,667 		 	$119,362 	
REPAIRS & MAINTENANCE
Facility Repairs		
 	$15,000 		
 	$8,690 		
 	$6,310 		
 	$15,000 		
 	$15,000 	
SUBTOTAL REPAIRS & MAINTENANCE		 	$15,000 		 	$8,690 		 	$6,310 		 	$15,000 		 	$15,000 	
RESERVES
Capital Reserve - Transfer Out		
$30,000		
$35,707		
$0		
$35,707		
$43,236	
Capital Project Improvements		 	$57,500 		 	$13,700 		 	$0 		 	$13,700 		 	$20,000 	
SUBTOTAL RESERVES		 	$87,500 		 	$49,407 		 	$0 		 	$49,407 		 	$63,236 	
 TOTAL FIELD EXPENDITURES			 	$295,421 		 	$202,534 		 	$57,650 		 	$260,185 		 	$293,338 	
 TOTAL EXPENDITURES			 	$413,494 		 	$285,411 		 	$85,998 		 	$371,409 		 	$412,843 	
 Excess Revenues			 	$0 		 	$168,430 		 	($85,992) 		 	$82,438 		 	$0 	
						
FY 2019		
FY 2020		
FY 2021	

NET ASSESSMENTS	$320,236	$412,343	$412,343	
PLUS COLLECTION FEES (7%)	$24,104	$31,037	$31,037	
GROSS ASSESSMENTS	$344,340	$443,380	$443,380	
NO. OF UNITS	749	748	748	
PER UNIT ASSESSMENT	$460	$593	$593	

REVENUES:
Maintenance Assessments
The District will levy a non ad-valorem special assessment on all assessable property within the District to fund all of the General Operating Expenditures for the fiscal year.

Interest Income
The District will have all excess funds invested with U.S. Bank. The amount is based upon the estimated average balance of funds available during the fiscal year.

Access Key Card
The District will collect fees for replacement of access cards at $10 each.

EXPENDITURES:
Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,000 in one year. The amount for the fiscal year is based upon all five supervisors attending the estimated 4 annual meetings.

FICA Expense
Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District's engineer will be providing general engineering services to the District including attendance and preparation for board meetings, etc.

Assessment Roll
Governmental Management Services serves as the District's collection agent and certifies the District's non-ad valorem assessments with the county tax collector.

Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c) (2)-12(b) (5), which relates to additional reporting requirements for un-rated bond issues provided by Governmental Management Services.

Attorney
The District's legal counsel, Hopping Green & Sams, will be contracted to provide general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District issued Series 2005 Capital Improvement Revenue Bonds, which are held with a Trustee at US Bank.

The amount of the trustee fees is based on the agreement between US Bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services. These services are further outlined in Exhibit "A" of the Management Agreement.

Computer Time
The District processes all of its financial activities, i.e., accounts payable, financial statements, etc. on a mainframe computer leased by Governmental Management Services.

Website Compliance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly. ADA Human audit fee will be included in this line.

Vendor	Monthly
GMS	$42
Vglobal Tech	Annual
$500
$1,200	
	$1,700	

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

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

Rental & Leases
Record storage fees to maintain district files by McCranie &Associates Inc at $10/month.

Meeting Room Rental
This item includes the cost to rent a boardroom for the Heron Isles Community Development District monthly supervisor meetings. The rental fees are based on the quarterly meetings.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

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

Other Current Charges
Bank charges, Property appraisal fees, and any other miscellaneous expenses that are incurred during the year.

Office Supplies
Miscellaneous office supplies.

Meeting Room Rental
This item includes the cost to rent a boardroom for the Heron Isles Community Development District monthly supervisor meetings. The rental fees are based on the quarterly meetings.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Utilities:

Electric

This item includes the cost of electricity for Heron Isles CDD that will be provided by FPL.

Location	Account #	Monthly	Annual	
100 Heron Isles Pkwy	55251-34119	$2,000	$24,000	
96103 Heron Isles Pkwy	79367-06030	$20	$240	
96116 Heron Isles Pkwy	15371-18034	$25	$300	
961164 Heron Isles Pkwy #IRR	17007-82129	$20	$240	
96139 Heron Isles Pkwy	89411-73059	$38	$456	
96148 Heron Isles Pkwy	59739-27030	$25	$300	
96443 Heron Isles Pkwy #IRR	62356-51129	$25	$300	
96638 Heron Isles Pkwy #IRR	62602-83129	$25	$300	
96331 Starfish Dr entwall	39110-92496	$25	$300	
928 Chester Rd # Entrance	62761-04061	$20	$240	
		$422	$5,064	
	Total Electric	$2,645.00	$31,740.00	

Water & Sewer
This item includes the cost of water and/or sewer from JEA.

Location		Account #	Monthly	Annual	
928 Chester Rd Apt IR01		83714954	$105	$1,260	
96059 Heron Isles PY-Sewer		82505651	$1,500	$18,000	
96059 Heron Isles PY-Water		82505651	$475	$5,700	
96259 Heron Isles PY		83582184	$1,250	$15,000	
96320 Starfish Dr		67059090	$88	$1,056	
96416 Heron Isles PY		67133229	$850	$10,200	
96572 Heron Isles PY		67133293	$900	$10,800	
Contingency			$165	$1,984	
	Total	Water & Sewer	$5,333	$64,000	

Contract Services:

Landscape Maintenance
Landscape services are to maintain the common areas within the District. The District has contracted with Martex Services for these services pertaining to entryway maintenance. The contract provides for a 30 day termination.

Vendor	Monthly	Annual	
Martex	$5,071	$60,852	

Landscape Contingency
Other Landscape service cost such as tree trimmings, tree and plant disposal and replacements.

Vendor	Monthly	Annual	
Martex	$1,250	$15,000	

Irrigation Maintenance
Irrigation services are to maintain the common areas within the District. The District has contracted with Martex Services for these services pertaining to entryway maintenance. The contract provides for a 30 day termination.

Lake Maintenance
The District has a contract with The Lake Doctors who provide monthly water management services to all the lakes throughout the District.

Vendor	Monthly	Annual	
The Lake Doctors	$1,075	$12,900	

Janitorial Services
The District has a contract with All Repairs & Maintenance for Janitorial services for the District.

Trash Removal Service
The District has a contract with All Repairs & Maintenance for Trash Removal Services.

Management Company
Management Fees include managing, supervising and coordinating the management, operation and maintenance. The District has a contract with Leland Management Inc. to provide these services, the monthly charge is $935.00 and the contract can be terminated by either party within 30 days notice.

Pest Control
The District has a contract with Kelly Termite for pest control services.

Holiday Decorations:
Represents estimated costs for the District to decorate the amenity center throughout the Fiscal Year.

REPAIRS & MAINTENANCE:

Repairs & Maintenance

Unscheduled repairs and maintenance to the District’s facilities through the community

Facility Repairs
Repairs and maintenance for the District’s amenity center.

RESERVES:

Capital Reserve:
Represents any Capital expenditures the District may need outside of the regular maintenance.

Capital Project Improvements:
Used to fund minor construction or improvements to District property. This includes renovations, repairs, parking lot expansion, or road repairs.

Heron Isles
Community Development District	Debt Service Fund
Series 2017A1-A2

	Adopted
Budget		Actual
Thru		Projected
Next		Total
Projected		Adopted
Budget	
	 Description			 	FY 2020			 	6/30/20			 	3 Months			 	9/30/20			 	FY 2021		
	Revenues											

(1)	Special Assessments - On Roll		$233,370		$228,130		$5,240		$233,370		$233,370	
	Prepayments		$0		$14,709		$0		$14,709		$0	
	Interest Income		$0		$148		$0		$148		$0	
(2)	Carry Forward Surplus		$65,405		$66,744		$0		$66,744		$60,264	
	TOTAL REVENUES		$298,775		$309,730		$5,240		$314,970		$293,633	
	
Expenditures											
	Series 2017A1											
	Interest - 11/1		$28,475		$28,475		$0		$28,475		$27,247	
	Special Call - 11/1		$0		$10,000		$0		$10,000		$0	
	Interest - 5/1		$28,475		$28,356		$0		$28,356		$27,247	
	Principal - 5/1		$100,000		$100,000		$0		$100,000		$100,000	
	Special Call - 5/1		$0		$10,000		$0		$10,000		$0	
	Series 2017A2 Interest - 11/1		
$19,000		
$19,000		
$0		
$19,000		
$18,000	
	Special Call - 11/1		$5,000		$5,000		$0		$5,000		$0	
	Interest - 5/1		$19,000		$18,875		$0		$18,875		$18,000	
	Principal - 5/1		$30,000		$30,000		$0		$30,000		$30,000	
	Special Call - 5/1		$0		$5,000		$0		$5,000		$0	
	TOTAL EXPENDITURES		$229,950		$254,706		$0		$254,706		$220,494	
												
(3)	EXCESS REVENUES		$68,825		$55,024		$5,240		$60,264		$73,139	
									
11/1/2021 Debt Service		
$	43,496.88	

(1)	Maximum Annual Debt Service

NET ASSESSMENTS	$233,370	
PLUS COLLECTION FEES (7%)	$17,565	
GROSS ASSESSMENTS	$250,935	
NO. OF UNITS	543	
PER UNIT ASSESSMENT:	$447	

(2)	Carry forward surplus is net of the reserve requirement	FY 2021
(3)	Represents excess funds in DS after Nov. 1 payments

DATE

BALANCE

PRINCIPAL

INTEREST

TOTAL

11/01/20	$
05/01/21	$
11/01/21	$
05/01/22	$
11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$

1,905,000.00	$
1,905,000.00    $
1,805,000.00	$
1,805,000.00    $
1,705,000.00	$
1,705,000.00    $
1,605,000.00	$
1,605,000.00    $
1,500,000.00	$
1,500,000.00    $
1,395,000.00	$
1,395,000.00    $
1,285,000.00	$
1,285,000.00    $
1,170,000.00	$
1,170,000.00    $
1,055,000.00	$
1,055,000.00    $
940,000.00	$
940,000.00    $
820,000.00	$
820,000.00    $
695,000.00	$
695,000.00    $
565,000.00	$
565,000.00    $
430,000.00	$
430,000.00    $

-	$
100,000.00    $
-	$
100,000.00    $
-	$
100,000.00    $
-	$
105,000.00    $
-	$
105,000.00    $
-	$
110,000.00    $
-	$
115,000.00    $
-	$
115,000.00    $
-	$
115,000.00    $
-	$
120,000.00    $
-	$
125,000.00    $
-	$
130,000.00    $
-	$
135,000.00    $
-	$
140,000.00    $

27,246.88 $
27,246.88
26,246.88 $
26,246.88
25,246.88 $
25,246.88
24,246.88 $
24,246.88
23,065.63 $
23,065.63
21,818.75 $
21,818.75
20,443.75 $
20,443.75
18,934.38 $
18,934.38
17,353.13 $
17,353.13
15,556.25 $
15,556.25
13,681.25 $
13,681.25
11,728.13 $
11,728.13
9,534.38 $
9,534.38
7,256.25 $
7,256.25

27,356.25

153,493.76

151,493.76

149,493.76

152,312.51

149,884.38

152,262.50

154,378.13

151,287.51

147,909.38

149,237.50

150,409.38

151,262.51

151,790.63

11/01/34	$	290,000.00	$	-	$	4,893.75	$	152,150.00	
05/01/35	$	290,000.00    $	140,000.00    $	4,893.75		
11/01/35	$	150,000.00	$	-	$	2,531.25	$	147,425.00	
05/01/36	$	150,000.00	$	150,000.00	$	2,531.25	$	152,531.25	
		$	1,905,000.00	$	539,568.84	$	2,444,678.21	

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
					
11/01/20	$	720,000.00	5.000%	$	-	$	18,000.00	$	-	
05/01/21	$	720,000.00	5.000%	$	30,000.00    $	18,000.00	$	66,000.00	
11/01/21	$	690,000.00	5.000%	$	-	$	17,250.00	$	-	
05/01/22	$	690,000.00	5.000%	$	30,000.00    $	17,250.00	$	64,500.00	
11/01/22	$	660,000.00	5.000%	$	-	$	16,500.00	$	-	
05/01/23	$	660,000.00	5.000%	$	35,000.00    $	16,500.00	$	68,000.00	
11/01/23	$	625,000.00	5.000%	$	-	$	15,625.00	$	-	
05/01/24	$	625,000.00	5.000%	$	35,000.00    $	15,625.00	$	66,250.00	
11/01/24	$	590,000.00	5.000%	$	-	$	14,750.00	$	-	
05/01/25	$	590,000.00	5.000%	$	35,000.00    $	14,750.00	$	64,500.00	
11/01/25	$	555,000.00	5.000%	$	-	$	13,875.00	$	-	
05/01/26	$	555,000.00	5.000%	$	40,000.00    $	13,875.00	$	67,750.00	
11/01/26	$	515,000.00	5.000%	$	-	$	12,875.00	$	-	
05/01/27	$	515,000.00	5.000%	$	40,000.00    $	12,875.00	$	65,750.00	
11/01/27	$	475,000.00	5.000%	$	-	$	11,875.00	$	-	
05/01/28	$	475,000.00	5.000%	$	45,000.00    $	11,875.00	$	68,750.00	
11/01/28	$	430,000.00	5.000%	$	-	$	10,750.00	$	-	
05/01/29	$	430,000.00	5.000%	$	45,000.00    $	10,750.00	$	66,500.00	
11/01/29	$	385,000.00	5.000%	$	-	$	9,625.00	$	-	
05/01/30	$	385,000.00	5.000%	$	45,000.00    $	9,625.00	$	64,250.00	
11/01/30	$	340,000.00	5.000%	$	-	$	8,500.00	$	-	
05/01/31	$	340,000.00	5.000%	$	50,000.00    $	8,500.00	$	67,000.00	
11/01/31	$	290,000.00	5.000%	$	-	$	7,250.00	$	-	
05/01/32	$	290,000.00	5.000%	$	50,000.00    $	7,250.00	$	64,500.00	
11/01/32	$	240,000.00	5.000%	$	-	$	6,000.00	$	-	
05/01/33	$	240,000.00	5.000%	$	55,000.00    $	6,000.00	$	67,000.00	
11/01/33	$	185,000.00	5.000%	$	-	$	4,625.00	$	-	
05/01/34	$	185,000.00	5.000%	$	60,000.00    $	4,625.00	$	69,250.00	
11/01/34	$	125,000.00	5.000%	$	-	$	3,125.00	$	-	
05/01/35	$	125,000.00	5.000%	$	60,000.00    $	3,125.00	$	66,250.00	
11/01/35	$	65,000.00	5.000%	$	-	$	1,625.00	$	-	
05/01/36	$	65,000.00	5.000%	$	65,000.00    $	1,625.00	$	68,250.00	
			$	720,000.00    $	344,500.00	$	1,064,500.00	

Heron Isles
Community Development District	Capital Reserve Fund

	Adopted
Budget		Actual
Thru		Projected
Next		Total
Projected		Adopted
Budget	
 Description			 	FY 2020			 	6/30/20			 	3 Months			 	9/30/20			 	FY 2021		
Revenues											
Capital Reserve Transfer In	$30,000		$35,707		$0		$35,707		$43,236	
Interest Income	$250		$0		$50		$50		$50	
Carry Forward Surplus	$0		$0		$0		$0		$35,552	

TOTAL REVENUES	$30,250		$35,707		$50		$35,757		$78,838	

Expenditures											
Capital Outlay		$0		$0		$0		$0		$20,000	
Other Current Charges		$0		$70		$135		$205		$500	
TOTAL EXPENDITURES		$0		$70		$135		$205		$20,500	
											
EXCESS REVENUES		$30,250		$35,637		($85)		$35,552		$58,338