Adopted Budget
Fiscal Year 2023

Heron Isles Community Development District
August 16, 2022

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 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Assessments - On Roll	$412,343	$417,601	$8	$417,609	$412,343	
Interest IncomeMiscellaneous Income	$10	$11	$6	$17	$10	
Access Key Cards	$100	$0	$0	$0	$100	
TOTAL REVENUES	$412,453	$417,612	$14	$417,626	$412,453	
Expenditures						
Administrative						
Supervisor Fees	$6,000	$2,200	$800	$3,000	$4,000	
FICA Expense	$459	$168	$61	$230	$306	
Engineering	$4,000	$3,565	$435	$4,000	$4,000	
Assessment Roll	$7,500	$7,500	$0	$7,500	$7,500	
Dissemination	$1,500	$1,125	$375	$1,500	$1,500	
Attorney	$18,000	$12,459	$5,541	$18,000	$18,000	
Annual Audit	$3,250	$3,250	$0	$3,250	$3,250	
Trustee Fees	$3,800	$0	$3,717	$3,717	$3,800	
Management Fees	$47,694	$35,771	$11,924	$47,694	$50,079	
Computer Time	$1,800	$1,350	$450	$1,800	$1,800	
Website Compliance	$1,200	$900	$300	$1,200	$1,200	
Telephone	$200	$72	$100	$172	$200	
Postage	$800	$49	$20	$69	$800	
Printing & Binding	$1,500	$184	$96	$280	$1,500	
Rental & Leases	$120	$0	$0	$0	$0	
Meeting Room Rental	$1,000	$40	$40	$80	$1,000	
Insurance	$14,653	$13,786	$0	$13,786	$16,543	
Legal Advertising	$5,350	$623	$4,728	$5,350	$3,200	
Other Current Charges	$7,200	$7,114	$167	$7,282	$7,400	
Office Supplies	$100	$2	$20	$22	$100	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
TOTAL ADMINISTRATIVE EXPENDITURES	$126,301	$90,334	$28,773	$119,107	$126,353	

UTILITIES:
Electric	

$31,740	

$19,589	

$6,900	

$26,489	

$32,500	
Water & Sewer	$64,000	$21,409	$16,027	$37,436	$43,051	
SUBTOTAL UTILITIES	$95,740	$40,997	$22,927	$63,925	$75,551	

CONTRACT SERVICES
Landscape Maintenance	

$60,852	

$46,651	

$15,972	

$62,623	

$87,336	
Landscape Contingency	$15,000	$8,249	$2,000	$10,249	$15,000	
Irrigation Maintenance	$3,000	$1,490	$4,237	$5,727	$5,800	
Lake Maintenance	$12,900	$6,602	$2,201	$8,803	$8,803	
Janitorial Services	$7,200	$5,164	$1,719	$6,883	$7,200	
Trash Removal Services	$7,440	$0	$0	$0	$0	
Facility Management	$11,781	$8,836	$2,945	$11,781	$12,370	
Pest Control Services	$250	$0	$248	$248	$250	
Holiday Decorations	$1,500	$0	$1,500	$1,500	$1,500	
SUBTOTAL CONTRACT SERVICES	$119,923	$76,993	$30,822	$107,815	$138,259	

REPAIRS & MAINTENANCE
Facility Repairs	

$7,500	

$4,494	

$10,699	

$15,193	

$17,500	
Miscellaneous Repairs & Maintenance		$7,500 		$455 		$3,500 		$3,955 		$7,500 	
SUBTOTAL REPAIRS & MAINTENANCE		$15,000 		$4,949 		$14,199 		$19,148 		$25,000 	
RESERVES
Capital Reserve - Transfer Out	
$35,489	
$0	
$35,489	
$35,489	
$47,289	
Capital Project Improvements	$20,000	$0	$20,000	$20,000	$0	
SUBTOTAL RESERVES	$55,489	$0	$55,489	$55,489	$47,289	
						
TOTAL FIELD EXPENDITURES	$286,152	$122,940	$123,437	$246,376	$286,100	
						
TOTAL EXPENDITURES	$412,453	$213,274	$152,210	$365,483	$412,453	
						
Excess Revenues	$0	$204,339	($152,196)	$52,143	$0	
			
FY 2021	
FY 2022	
FY 2023	

NET ASSESSMENTS	$412,343	$412,343	$412,343	
PLUS COLLECTION FEES (7%)	$31,037	$31,037	$31,037	
GROSS ASSESSMENTS	$443,380	$443,380	$443,380	
NO. OF UNITS	748	748	748	
PER UNIT ASSESSMENT	$593	$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, KE Law Group PLLC, 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 2017 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
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. provided by Governmental Management Services LLC.

Website Compliance
Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. provided by Governmental Management Services LLC.

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.

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	$2,200	$26,400	
96103 Heron Isles Pkwy	79367-06030	$20	$240	
96116 Heron Isles Pkwy	15371-18034	$55	$660	
961164 Heron Isles Pkwy #IRR	17007-82129	$15	$180	
96139 Heron Isles Pkwy	89411-73059	$100	$1,200	
96148 Heron Isles Pkwy	59739-27030	$15	$180	
96443 Heron Isles Pkwy #IRR	62356-51129	$15	$180	
96638 Heron Isles Pkwy #IRR	62602-83129	$15	$180	
96331 Starfish Dr entwall	39110-92496	$15	$180	
928 Chester Rd # Entrance	62761-04061	$15	$180	
Contingency			$243		$2,920 	
	Total Electric	$2,708.33	$32,500.00	

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

Location	Account #	Monthly	Annual	
928 Chester Rd Apt IR01	83714954	$70	$840	
96059 Heron Isles PY-Sewer	82505651	$150	$1,800	
96059 Heron Isles PY-Water	82505651	$80	$960	
96259 Heron Isles PY	83582184	$70	$840	
96320 Starfish Dr	67059090	$100	$1,200	
96416 Heron Isles PY	67133229	$1,200	$14,400	
96572 Heron Isles PY	67133293	$1,200	$14,400	
Contingency			$718		$8,611 	
	Total Water & Sewer	$3,588	$43,051	

Contract Services:

Landscape Maintenance
Landscape services are to maintain the common areas within the District. The District will contracted with Brightview for these services. The contract provides for a 30 day termination.

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

Irrigation Maintenance
Irrigation services are to maintain the common areas within the District. The District has contracted with The Brightview for these services. 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 Magic Touch Commercial Cleaning Co for the District janitorial services and for trash removal services.

Vendor	Monthly	Annual	
Magic Touch Commercial Cleaning	$573	$6,876	
Contingency		$27	$324	
$7,200	

Facility Management
Management Fees include managing, supervising and coordinating the management, operation and maintenance. The District has a contract with Riverside Management Service to provide these services.

Vendor	Monthly	Annual	
Riverside Management Services	$1,031	$12,370	

Pest Control
The District has a contract with Bug out Services for termite warranty.

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

REPAIRS & MAINTENANCE:

Facility Repairs
Repairs and maintenance for the District’s common areas.

Miscellaneous Repairs and Maintenance
Repairs and maintenance for the District’s common ground areas.

RESERVES:

Capital Reserve:
Represents any Capital expenditures the District may need outside of the regular maintenance. Funds transferred to Capital Reserve Account. 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 2022	6/30/22	3 Months		9/30/22		FY 2023	

Revenues								
(1)	Special Assessments - On Roll	$221,947	$224,779		$4	$224,783		$221,947	
Prepayments	$0	$0		$0	$0		$0	
Interest Income	$0	$7		$2	$9		$0	
(2)	Carry Forward Surplus	$57,790	$59,649		$0	$59,649		$48,550	
TOTAL REVENUES	$279,737	$284,434		$6	$284,441		$270,497	

Expenditures								
Series 2017A1								
Interest - 11/1	$26,041	$26,041		$0	$26,041		$24,975	
Special Call - 11/1	$0	$5,000		$0	$5,000		$0	
Interest - 5/1	$26,041	$25,975		$0	$25,975		$24,975	
Principal - 5/1	$100,000	$100,000		$0	$100,000		$100,000	
Series 2017A2 Interest - 11/1	
$17,000	
$17,000		
$0	
$17,000		
$15,875	
Special Call - 11/1	$0	$5,000		$0	$5,000		$0	
Interest - 5/1	$17,000	$16,875		$0	$16,875		$15,875	
Principal - 5/1	$30,000	$30,000		$0	$30,000		$30,000	
Special Call - 5/1	$0	$10,000		$0	$10,000		$0	
TOTAL EXPENDITURES	$216,081	$235,891		$0	$235,891		$211,700	
								
(3)	EXCESS REVENUES	$63,656	$48,544		$6	$48,550		$58,797	
					
11/1/2023 Debt Service A1	
$	
23,975.00	

(1)	Maximum Annual Debt Service

11/1/2023 Debt Service A2

 $	15,125.00 
 $	39,100.00 

NET ASSESSMENTS	$221,947	
PLUS COLLECTION FEES (7%)	$16,706	
GROSS ASSESSMENTS	$238,653	
NO. OF UNITS	534	
PER UNIT ASSESSMENT:	$447	

(2)	Carry forward surplus is net of the reserve requirement	FY 2023
(3)	Represents excess funds in DS after Nov. 1 payments

DATE		BALANCE	PRINCIPAL	INTEREST		TOTAL	
							
11/01/22	$	1,685,000.00	$	-	$	24,975.00	$	150,950.00	
05/01/23	$	1,685,000.00	$	100,000.00	$	24,975.00			
11/01/23	$	1,585,000.00	$	-	$	23,975.00	$	148,950.00	
05/01/24	$	1,585,000.00	$	100,000.00	$	23,975.00			
11/01/24	$	1,485,000.00	$	-	$	22,850.00	$	146,825.00	
05/01/25	$	1,485,000.00	$	105,000.00	$	22,850.00			
11/01/25	$	1,380,000.00	$	-	$	21,603.13	$	149,453.13	
05/01/26	$	1,380,000.00	$	110,000.00	$	21,603.13			
11/01/26	$	1,270,000.00	$	-	$	20,228.13	$	151,831.26	
05/01/27	$	1,270,000.00	$	105,000.00	$	20,228.13			
11/01/27	$	1,165,000.00	$	-	$	18,850.00	$	144,078.13	
05/01/28	$	1,165,000.00	$	115,000.00	$	18,850.00			
11/01/28	$	1,050,000.00	$	-	$	17,268.75	$	151,118.75	
05/01/29	$	1,050,000.00	$	115,000.00	$	17,268.75			
11/01/29	$	935,000.00	$	-	$	15,471.88	$	147,740.63	
05/01/30	$	935,000.00	$	120,000.00	$	15,471.88			
11/01/30	$	815,000.00	$	-	$	13,596.88	$	149,068.76	
05/01/31	$	815,000.00	$	125,000.00	$	13,596.88			
11/01/31	$	690,000.00	$	-	$	11,643.75	$	150,240.63	
05/01/32	$	690,000.00	$	130,000.00	$	11,643.75			
11/01/32	$	560,000.00	$	-	$	9,450.00	$	151,093.75	
05/01/33	$	560,000.00	$	135,000.00	$	9,450.00			
11/01/33	$	425,000.00	$	-	$	7,171.88	$	151,621.88	
05/01/34	$	425,000.00	$	140,000.00	$	7,171.88			
11/01/34	$	285,000.00	$	-	$	4,809.38	$	151,981.26	
05/01/35	$	285,000.00	$	140,000.00	$	4,809.38			
11/01/35	$	145,000.00	$	-	$	2,446.88	$	147,256.26	
05/01/36	$	145,000.00	$	145,000.00	$	2,446.88	$	147,446.88	
			$	1,685,000.00	$	428,681.32	$	2,239,656.32	

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/01/22	$	635,000.00	5.000%	$	-	$	15,875.00	$	-	
05/01/23	$	635,000.00	5.000%	$	30,000.00	$	15,875.00	$	61,750.00	
11/01/23	$	605,000.00	5.000%	$	-	$	15,125.00	$	-	
05/01/24	$	605,000.00	5.000%	$	35,000.00	$	15,125.00	$	65,250.00	
11/01/24	$	570,000.00	5.000%	$	-	$	14,250.00	$	-	
05/01/25	$	570,000.00	5.000%	$	35,000.00	$	14,250.00	$	63,500.00	
11/01/25	$	535,000.00	5.000%	$	-	$	13,375.00	$	-	
05/01/26	$	535,000.00	5.000%	$	35,000.00	$	13,375.00	$	61,750.00	
11/01/26	$	500,000.00	5.000%	$	-	$	12,500.00	$	-	
05/01/27	$	500,000.00	5.000%	$	40,000.00	$	12,500.00	$	65,000.00	
11/01/27	$	460,000.00	5.000%	$	-	$	11,500.00	$	-	
05/01/28	$	460,000.00	5.000%	$	40,000.00	$	11,500.00	$	63,000.00	
11/01/28	$	420,000.00	5.000%	$	-	$	10,500.00	$	-	
05/01/29	$	420,000.00	5.000%	$	45,000.00	$	10,500.00	$	66,000.00	
11/01/29	$	375,000.00	5.000%	$	-	$	9,375.00	$	-	
05/01/30	$	375,000.00	5.000%	$	45,000.00	$	9,375.00	$	63,750.00	
11/01/30	$	330,000.00	5.000%	$	-	$	8,250.00	$	-	
05/01/31	$	330,000.00	5.000%	$	50,000.00	$	8,250.00	$	66,500.00	
11/01/31	$	280,000.00	5.000%	$	-	$	7,000.00	$	-	
05/01/32	$	280,000.00	5.000%	$	50,000.00	$	7,000.00	$	64,000.00	
11/01/32	$	230,000.00	5.000%	$	-	$	5,750.00	$	-	
05/01/33	$	230,000.00	5.000%	$	55,000.00	$	5,750.00	$	66,500.00	
11/01/33	$	175,000.00	5.000%	$	-	$	4,375.00	$	-	
05/01/34	$	175,000.00	5.000%	$	55,000.00	$	4,375.00	$	63,750.00	
11/01/34	$	120,000.00	5.000%	$	-	$	3,000.00	$	-	
05/01/35	$	120,000.00	5.000%	$	60,000.00	$	3,000.00	$	66,000.00	
11/01/35	$	60,000.00	5.000%	$	-	$	1,500.00	$	-	
05/01/36	$	60,000.00	5.000%	$	60,000.00	$	1,500.00	$	63,000.00	
				$	635,000.00	$	264,750.00	$	899,750.00	

Heron Isles
Community Development District	Capital Reserve Fund

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						

Capital Reserve Transfer In	$35,489	
$0	
$55,489	
$55,489	
$47,289	
Interest Income	$0	$6	$9	$15	$0	
Carry Forward Surplus	$45,815	$45,824	$0	$45,824	$94,111	
TOTAL REVENUES	$81,304	$45,830	$55,498	$101,328	$141,400	

Expenditures						
Capital Outlay	$20,000	$6,784	$0	$6,784	$20,000	
Repair & Maintenance	$0	$0	$0	$0	$0	
Other Current Charges	$500	$291	$141	$432	$500	
TOTAL EXPENDITURES	$20,500	$7,076	$141	$7,217	$20,500	
						
EXCESS REVENUES	$60,804	$38,754	$55,357	$94,111	$120,900