Heron Isles
Community Development District

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Approved Budget
FY2026
May 20, 2025

Table of Contents

1-2

3-5

6

7-8

9

	General Fund

	Narratives

	Debt Service Fund Series 2017

	Series 2017 A1/A2 Amortization Schedule

	Capital Reserve Fund

10		Assessment Schedule

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
Description	FY2025	3/31/25		6 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments - On Roll	$412,343	$409,410	$2,930	$412,341	$412,343	
Interest/Miscellaneous Income	6,000	11,890	12,576	24,466	10,000	
Access Key Cards	100	-	-	-	100	
Carry Forward Surplus	-	-	-	-	13,193	
TOTAL REVENUES	$418,443	$421,300	$15,506	$436,806	$435,636	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$4,000	$1,200	$2,000	$3,200	$4,000	
FICA Taxes	306	92	153	245	306	
Engineer	4,000	3,980	3,045	7,025	7,200	
Attorney	18,000	6,293	11,707	18,000	18,000	
Annual Audit	3,460	-	3,460	3,460	3,460	
Assessment Administration	7,950	7,950	-	7,950	8,348	
Dissemination Agent	1,685	843	843	1,685	1,769	
Trustee Fees	3,800	-	3,717	3,717	4,080	
Management Fees	56,269	28,134	28,135	56,269	59,082	
Information Technology	2,022	1,011	1,011	2,022	2,123	
Website Maintenance	1,348	674	674	1,348	1,415	
Telephone	200	8	142	150	200	
Postage & Delivery	800	167	60	227	800	
Meeting Room Rental	300	-	150	150	300	
General Liability and Public Officials Insurance	22,795	16,779	-	16,779	19,928	
Printing & Binding	600	119	270	389	600	
Legal Advertising	3,200	-	1,000	1,000	3,200	
Other Current Charges	7,400	6,559	250	6,809	7,400	
Office Supplies	100	2	10	12	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$138,411	$73,985	$56,628	$130,613	$142,486	

Operations & Maintenance						
Utility						
Electric	$35,750	$16,190	$16,800	$32,990	$35,750	
Water & Sewer	14,000	4,950	8,962	13,913	14,700	
Total Utility	$49,750	$21,140	$25,762	$46,902	$50,450	

Contract Services
Landscape Maintenance (Brightview Landscaping)	

$87,336	

$43,668	

$43,668	

$87,336	

$89,956	
Landscape Contingency	15,000	2,310	12,690	15,000	15,000	
Irrigation Maintenance	8,500	492	8,008	8,500	8,500	
Lake Maintenance (Future Horizons)	9,243	4,402	4,402	8,803	9,243	
Janitorial Services (Magic Touch)	7,400	3,678	3,678	7,356	7,400	
Facility Management	13,899	6,950	6,950	13,899	14,594	
Secuirty Services	-	786	720	1,506	1,440	
Pest Control Services (Naders Pest Raiders)	350	-	264	264	350	
Holiday Decorations	1,500	-	1,500	1,500	1,500	
Total Utility	$143,228	$62,285	$81,879	$144,164	$147,983	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
Description	FY2025	3/31/25		6 Months		9/30/25	FY 2026	

Repair and Maintenance						
Facility Repairs	$17,500	$6,289	$11,211	$17,500	$17,500	
Miscellaneous Repairs & Maintenance	7,500	135	7,365	7,500	7,500	
Road and Drainage Repairs	5,000	-	2,500	2,500	5,000	
Contingency	-	-	17,380	17,380	-	
Total Repair and Maintenance	$30,000	$6,424	$38,456	$44,880	$30,000	
						
TOTAL EXPENDITURES	$361,389	$163,835	$202,724	$366,559	$370,920	

Other Sources/(Uses)						
Capital Reserve - Transfer Out	$(57,054)	$-	$(57,054)	$(57,054)
.	$(64,717)	
TOTAL OTHER SOURCES/(USES)	$(57,054)	$-	$(57,054)	$(57,054)	$(64,717)	
						
EXCESS REVENUES (EXPENDITURES)	$-	$257,465	$(244,272)	$13,193	$-	

REVENUES

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Interest/Miscellaneous Income
The District earns interest on the monthly average collected balance for each of their investment accounts.
Access Key Card
The District will collect fees for replacement of access cards at $10 each.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services,LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website 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.
Telephone
Internet, phone and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Meeting Room Rental
This item includes the cost to rent a boardroom for the Heron Isles Community Development District supervisor meetings. The rental fees are based on the quarterly meetings.

Expenditures - Administrative (continued)

General Liability and Public Officials Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based on estimated premium.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Operations 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	$2,430	$29,160	
96139 Heron Isles Pkwy	89411-73059	$80	$960	
96116 Heron Isles Pkwy	15371-18034	$55	$660	
96103 Heron Isles Pkwy	79367-06030	$30	$360	
96443 Heron Isles Pkwy #IRR	62356-51129	$30	$360	
96638 Heron Isles Pkwy #IRR	62602-83129	$30	$360	
96148 Heron Isles Pkwy	59739-27030	$30	$360	
96331 Starfish Dr entwall	39110-92496	$30	$360	
961164 Heron Isles Pkwy #IRR	17007-82129	$30	$360	
928 Chester Rd # Entrance	62761-04061	$30	$360	
Contingency		$204	$2,450 	
	Total Electric	$2,979	$35,750	
Water & Sewer
This item includes the cost of water and/or sewer from JEA.				
Location	Account #	Monthly	Annual	
928 Chester Rd Apt IR01	83714954	$130	$1,560	
96059 Heron Isles PY-Sewer	82505651	$120	$1,440	
96059 Heron Isles PY-Water	82505651	$70	$840	
96259 Heron Isles PY	83582184	$70	$840	
96320 Starfish Dr	67059090	$140	$1,680	
96416 Heron Isles PY	67133229	$300	$3,600	
96572 Heron Isles PY	67133293	$150	$1,800	
Contingency		$245	$2,940 	
Total Water & Sewer	$1,225	$14,700

Expenditures – Operations Contract Services

Landscape Maintenance
Landscape services are to maintain the common areas within the District. The District has contracted with Brightview Landscape Services, Inc to provide these services.
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 Brightview Landscape for these services. The contract provides for a 30 day termination.
Lake Maintenance
The District has a contract with Future Horizons, Inc. who provide monthly water management services to all the lakes throughout the District.
Janitorial Services
The District has a contract with Magic Touch Commercial Cleaning Co for the District janitorial services and for trash removal services.
Facility Management
Management Fees include managing, supervising, and coordinating the management, operation and maintenance. The District has a contract with Governmental Management Services, LLC to provide these services.
Security
The District uses HiTech Systems to provide CCTV for video security monitoring.
Pest Control
The District has a contract with Naders Pest Raiders for termite warranty.
Holiday Decorations:
Represents estimated costs for the District to decorate the amenity center throughout the Fiscal Year.

Expenditures – Repair and 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.
Road and Drainage Repairs
Estimate for repairs and maintenance of the roadway and drainage system.

Expenditures – Reserves

Capital Reserve
Represents any Capital expenditures the District may need outside of the regular maintenance. The funds are transferred to Capital Reserve Account and used to fund minor construction or improvements to District property. This includes renovations, repairs, parking lot expansion, or road repairs.

Approved Budget
Debt Service Series 2017A1 & A2 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2025	3/31/25		6 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments-On Roll	
$221,115	
$219,544	
$1,571	
$221,115	
$221,115	
Interest Earnings	6,000	4,155	3,088	7,243	6,000	
Carry Forward Surplus (1)	78,163	79,392	-	79,392	94,344	
TOTAL REVENUES	$305,279	$303,092	$4,659	$307,751	$321,460	

EXPENDITURES:						
Series 2017A1						
Interest 11/1	$22,703	$22,703	$-	$22,703	$21,456	
Interest 5/1	22,703	-	22,703	22,703	21,456	
Principal 5/1	105,000	-	105,000	105,000	105,000	

Series 2017A2						
Interest 11/1	14,000	14,000	-	14,000	12,000	
Interest 5/1	14,000	-	14,000	14,000	12,000	
Principal 5/1	35,000	-	35,000	35,000	35,000	
Prepayment 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$213,406	$36,703	$176,703	$213,406	$206,913	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$213,406	$36,703	$176,703	$213,406	$206,913	
						
EXCESS REVENUES (EXPENDITURES)	$91,872	$266,389	$(172,044)	$94,344	$114,547	

(1) Carry Forward is Net of Reserve Requirement	
A-1 Interest Due 11/1/26	
$20,143.75	
	A-2 Interest Due 11/1/26	$11,125.00	
		$31,268.75	

Series 2017A-1 Capital Improvement Revenue Refunding Bonds (Senior Bonds)

AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service

11/01/25	1,370,000.00	-	21,456.25	21,456.25	
05/01/26	1,370,000.00	105,000.00	21,456.25		
11/01/26	1,265,000.00	-	20,143.75	146,600.00	
05/01/27	1,265,000.00	105,000.00	20,143.75		
11/01/27	1,160,000.00	-	18,765.63	143,909.38	
05/01/28	1,160,000.00	115,000.00	18,765.63		
11/01/28	1,045,000.00	-	17,184.38	150,950.01	
05/01/29	1,045,000.00	115,000.00	17,184.38		
11/01/29	930,000.00	-	15,387.50	147,571.88	
05/01/30	930,000.00	120,000.00	15,387.50		
11/01/30	810,000.00	-	13,512.50	148,900.00	
05/01/31	810,000.00	125,000.00	13,512.50		
11/01/31	685,000.00	-	11,559.38	150,071.88	
05/01/32	685,000.00	130,000.00	11,559.38		
11/01/32	555,000.00	-	9,365.63	150,925.01	
05/01/33	555,000.00	135,000.00	9,365.63		
11/01/33	420,000.00	-	7,087.50	151,453.13	
05/01/34	420,000.00	135,000.00	7,087.50		
11/01/34	285,000.00	-	4,809.38	146,896.88	
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		
11/1/36	-			147,446.88	
Total		$1,370,000	$283,438	$1,653,438	

Series 2017A-2 Capital Improvement Revenue Refunding Bonds (Subordinate Bonds)

AMORTIZATION SCHEDULE

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25
05/01/26	480,000.00
480,000.00	5.000%
5.000%	-
35,000.00	12,000.00
12,000.00	12,000.00	
11/01/26	445,000.00	5.000%	-	11,125.00	58,125.00	
05/01/27	445,000.00	5.000%	35,000.00	11,125.00		
11/01/27	410,000.00	5.000%	-	10,250.00	56,375.00	
05/01/28	410,000.00	5.000%	35,000.00	10,250.00		
11/01/28	375,000.00	5.000%	-	9,375.00	54,625.00	
05/01/29	375,000.00	5.000%	40,000.00	9,375.00		
11/01/29	335,000.00	5.000%	-	8,375.00	57,750.00	
05/01/30	335,000.00	5.000%	40,000.00	8,375.00		
11/01/30	295,000.00	5.000%	-	7,375.00	55,750.00	
05/01/31	295,000.00	5.000%	45,000.00	7,375.00		
11/01/31	250,000.00	5.000%	-	6,250.00	58,625.00	
05/01/32	250,000.00	5.000%	45,000.00	6,250.00		
11/01/32	205,000.00	5.000%	-	5,125.00	56,375.00	
05/01/33	205,000.00	5.000%	50,000.00	5,125.00		
11/01/33	155,000.00	5.000%	-	3,875.00	59,000.00	
05/01/34	155,000.00	5.000%	50,000.00	3,875.00		
11/01/34	105,000.00	5.000%	-	2,625.00	56,500.00	
05/01/35	105,000.00	5.000%	50,000.00	2,625.00		
11/01/35	55,000.00	5.000%	-	1,375.00	54,000.00	
05/01/36	55,000.00	5.000%	55,000.00	1,375.00		
					56,375.00	
Total			$480,000	$155,500	$635,500	

Proposed Budget Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
Description	FY2025	3/31/25		6 Months		9/30/25	FY 2026	

REVENUES:						
Capital Reserve-Transfer In	$57,054	$-	$57,054	$57,054	$64,717	
Interest Income	100	1,906	2,400	4,306	2,400	
Carry Forward Balance	179,563	158,948	-	158,948	201,713	
TOTAL REVENUES	$236,717	$160,854	$59,454	$220,308	$268,830	

EXPENDITURES:						
Capital Outlay						
Capital Outlay	$-	$5,850	$-	$5,850	$-	
Repair & Maintenance	-	12,450	-	12,450	-	
Other Current Charges	-	42	252	294	500	
TOTAL EXPENDITURES	$-	$18,342	$252	$18,594	$500	

Other Sources/(Uses)						
Transfer In (Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
EXCESS REVENUES (EXPENDITURES)	$236,717	$142,511	$59,202	$201,713	$268,330	

Heron Isles
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds 2017
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	

Single Family	
748	
531	
$593	
$593	
$0	
$447	
$447	
$0	
$1,040	
$1,040	
$0	
Single Family*	0	1	$593	$593	$0	$242	$242	$0	$835	$835	$0	
Total	748	532										
*Single Family unit for 2017 has a partial paydown.