Heron Isles
Community Development District

Adopted Budget
FY 2027
August 18, 2026

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	Adopted Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:						
Special Assessments - On Roll	$412,343	$417,906	$-	$417,906	$412,343	
Interest/Miscellaneous Income	10,000	14,492	4,763	19,255	10,000	
Access Key Cards	100	-	-	-	100	
Carry Forward Surplus	13,193	-	-	-	-	
TOTAL REVENUES	$435,636	$432,398	$4,763	$437,161	$422,443	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$4,000	$1,400	$1,000	$2,400	$4,000	
FICA Taxes	306	107	77	184	306	
Engineer	7,200	7,773	300	8,073	8,000	
Attorney	18,000	11,601	6,399	18,000	18,000	
Annual Audit	3,460	3,460	-	3,460	3,600	
Assessment Administration	8,348	8,348	-	8,348	8,848	
Dissemination Agent	1,769	1,327	442	1,769	1,875	
Trustee Fees	4,080	2,788	1,024	3,812	4,125	
Management Fees	59,082	44,312	14,771	59,082	62,627	
Information Technology	2,123	1,592	531	2,123	2,250	
Website Maintenance	1,415	1,061	354	1,415	1,500	
Telephone	200	59	45	104	200	
Postage & Delivery	800	212	59	271	800	
Meeting Room Rental	300	-	150	150	300	
General Liability and Public Officials Insurance	19,928	17,564	-	17,564	17,960	
Printing & Binding	600	170	34	204	600	
Legal Advertising	3,200	476	432	908	3,200	
Other Current Charges	7,400	6,983	100	7,083	7,400	
Office Supplies	100	3	5	8	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$142,486	$109,411	$25,722	$135,132	$145,868	

Operations & Maintenance						
Utility						
Electric	$35,750	$26,011	$8,700	$34,711	$37,000	
Water & Sewer	14,700	20,806	11,400	32,206	$26,000	
Total Utility	$50,450	$46,817	$20,100	$66,917	$63,000	

Contract Services
Landscape Maintenance (Brightview Landscaping)	

$89,956	

$65,502	

$21,834	

$87,336	

$89,956	
Landscape Contingency	15,000	4,114	5,000	9,114	15,000	
Irrigation Maintenance	8,500	6,605	1,895	8,500	8,500	
Lake Maintenance (Future Horizons)	9,243	6,602	2,201	8,803	10,564	
Janitorial Services (GMS)	7,400	5,486	1,829	7,314	7,844	
Facility Management	14,594	11,467	3,822	15,289	15,470	
Secuirty Services	1,440	1,080	360	1,440	1,440	
Pest Control Services (Naders Pest Raiders)	350	272	-	272	350	
Holiday Decorations	1,500	-	1,500	1,500	1,500	
Total Utility	$147,983	$101,128	$38,440	$139,569	$150,624	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

Repair and Maintenance						
Facility Repairs	$17,500	$8,795	$8,705	$17,500	$17,500	
Miscellaneous Repairs & Maintenance	7,500	225	3,000	3,225	7,500	
Road and Drainage Repairs	5,000	-	-	-	5,000	
Contingency	-	-	10,101	10,101	-	
Total Repair and Maintenance	$30,000	$9,020	$21,806	$30,826	$30,000	
						
TOTAL EXPENDITURES	$370,920	$266,376	$106,068	$372,444	$389,492	

Other Sources/(Uses)						
Capital Reserve - Transfer Out	$(64,717)	$-	$(64,717)	$(64,717)	$(32,952)	
.

TOTAL OTHER SOURCES/(USES)

$(64,717)

$-

$(64,717)	$(64,717)	$(32,952)

EXCESS REVENUES (EXPENDITURES)

$-

$166,022	$(166,022)

$-

$-

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	$2,600	$31,200	
96139 Heron Isles Pkwy	89411-73059	$100	$1,200	
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		$118	$1,420 	
	Total Electric	$3,083	$37,000	
Water & Sewer
This item includes the cost of water and/or sewer from JEA.				
Location	Account #	Monthly	Annual	
928 Chester Rd Apt IR01	83714954	$30	$360	
96059 Heron Isles PY-Sewer	82505651	$60	$720	
96059 Heron Isles PY-Water	82505651	$185	$2,220	
96259 Heron Isles PY	83582184	$55	$660	
96320 Starfish Dr	67059090	$140	$1,680	
96416 Heron Isles PY	67133229	$940	$11,280	
96572 Heron Isles PY	67133293	$500	$6,000	
Contingency		$257	$3,080 	
Total Water & Sewer	$2,167	$26,000

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 Governmental Mangement Services, GMS, 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.

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

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments-On Roll	
$221,115	
$224,100	
$-	
$224,100	
$221,115	
Interest Earnings	6,000	4,607	783	5,390	4,000	
Carry Forward Surplus (1)	97,485	56,833	-	56,833	69,619	
TOTAL REVENUES	$324,600	$285,539	$783	$286,322	$294,734	

EXPENDITURES:

Series 2017A1
Interest 11/1	$21,456	

$21,456	

$-	

$21,456	

$20,059	
Special Call 11/1	-	5,000	-		5,000	-	
Interest 5/1	21,456	21,372		-	21,372	20,059	
Principal 5/1	105,000	105,000		-	105,000	105,000	
Series 2017A2							
Interest 11/1	12,000	12,000		-	12,000	11,000	
Special Call 11/1	-	5,000		-	5,000	-	
Interest 5/1	12,000	11,875		-	11,875	11,000	
Principal 5/1	35,000	35,000		-	35,000	35,000	
Prepayment 5/1	-	5,000		-	5,000	-	
TOTAL EXPENDITURES	$206,913	$221,703	$-		$216,703	$202,119	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$206,913	$221,703	$-	$216,703	$202,119	
						
EXCESS REVENUES (EXPENDITURES)	$117,688	$63,836	$783	$69,619	$92,616	

(1) Carry Forward is Net of Reserve Requirement	
A-1 Interest Due 11/1/27	
$18,681.25	
	A-2 Interest Due 11/1/27	$10,125.00	
		$28,806.25	

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

AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	1,260,000.00		-	20,059.38	20,059.38	
05/01/27	1,260,000.00	2.63%	105,000.00	20,059.38		
11/01/27	1,155,000.00		-	18,681.25	143,740.63	
05/01/28	1,155,000.00	2.75%	115,000.00	18,681.25		
11/01/28	1,040,000.00		-	17,100.00	150,781.25	
05/01/29	1,040,000.00	3.13%	115,000.00	17,100.00		
11/01/29	925,000.00		-	15,303.13	147,403.13	
05/01/30	925,000.00	3.13%	120,000.00	15,303.13		
11/01/30	805,000.00		-	13,428.13	148,731.26	
05/01/31	805,000.00	3.13%	125,000.00	13,428.13		
11/01/31	680,000.00		-	11,475.00	149,903.13	
05/01/32	680,000.00	3.38%	130,000.00	11,475.00		
11/01/32	550,000.00		-	9,281.25	150,756.25	
05/01/33	550,000.00	3.38%	130,000.00	9,281.25		
11/01/33	420,000.00		-	7,087.50	146,368.75	
05/01/34	420,000.00	3.38%	135,000.00	7,087.50		
11/01/34	285,000.00		-	4,809.38	146,896.88	
05/01/35	285,000.00	3.38%	140,000.00	4,809.38		
11/01/35	145,000.00		-	2,446.88	147,256.26	
05/01/36	145,000.00	3.38%	145,000.00	2,446.88		
11/1/36	-				147,446.88	
Total			$1,260,000	$239,344	$1,499,344	

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

AMORTIZATION SCHEDULE

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/26
05/01/27	440,000.00
440,000.00	5.000%
5.000%	-
35,000.00	11,000.00
11,000.00	11,000.00	
11/01/27	405,000.00	5.000%	-	10,125.00	56,125.00	
05/01/28	405,000.00	5.000%	35,000.00	10,125.00		
11/01/28	370,000.00	5.000%	-	9,250.00	54,375.00	
05/01/29	370,000.00	5.000%	40,000.00	9,250.00		
11/01/29	330,000.00	5.000%	-	8,250.00	57,500.00	
05/01/30	330,000.00	5.000%	40,000.00	8,250.00		
11/01/30	290,000.00	5.000%	-	7,250.00	55,500.00	
05/01/31	290,000.00	5.000%	40,000.00	7,250.00		
11/01/31	250,000.00	5.000%	-	6,250.00	53,500.00	
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%	45,000.00	5,125.00		
11/01/33	160,000.00	5.000%	-	4,000.00	54,125.00	
05/01/34	160,000.00	5.000%	50,000.00	4,000.00		
11/01/34	110,000.00	5.000%	-	2,750.00	56,750.00	
05/01/35	110,000.00	5.000%	50,000.00	2,750.00		
11/01/35	60,000.00	5.000%	-	1,500.00	54,250.00	
05/01/36	60,000.00	5.000%	55,000.00	1,500.00		
					56,500.00	
Total			$435,000	$131,000	$577,875	

Proposed Budget Capital Reserve Fund

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Capital Reserve-Transfer In	$64,717	
$64,717	
$-	
$64,717	
$32,952	
Interest Income	2,400	5,607	2,250	7,857	2,400	
Carry Forward Balance	203,510	203,492	-	203,492	242,333	
TOTAL REVENUES	$270,627	$273,816	$2,250	$276,066	$277,685	

EXPENDITURES:
Capital Outlay
Capital Outlay	$-	

$-	

$-	

$-	

$-	
Repair & Maintenance	-	24,551	8,475	33,026	25,000	
Other Current Charges	500	527	180	707	500	
TOTAL EXPENDITURES	$500	$25,078	$8,655	$33,733	$25,500	

Other Sources/(Uses)											
Transfer In (Out)		$-		$-		$-		$-		$-	
TOTAL OTHER SOURCES/(USES)	$-		$-		$-		$-		$-		

EXCESS REVENUES (EXPENDITURES)	$270,127	$248,738	$(6,405)	$242,333	$252,185

Heron Isles
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	O&M Units	Bonds 2017
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY 2026	Increase/ (decrease)	
FY 2027	
FY 2026	Increase/ (decrease)	
FY 2027	
FY 2026	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.