Highland Meadows
Community Development District

Proposed Budget
FY 2027

Table of Contents

1	General Fund	

2-3	

General Fund Narrative	

4	

Reserve Fund	

5	

Series 2006A Debt Service Fund	

6	

Series 2006A Amortization Schedule	

7	

Assessment Table	

Highland Meadows
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues						
Special Assessments - On Roll	$	262,130	$	259,116	$	3,014	$	262,130	$	402,597	
Interest Income	-	841	600	1,441	750	
Misc. Income	-	942	-	942	-	
Total Revenues	$	262,130	$	260,899	$	3,614	$	264,513	$	403,347	

Expenditures						
General & Administrative
Supervisor Fees/FICA	
$	6,459	
$	2,368	
$	2,153	
$	4,521	
$	6,459	
Engineering	10,000	6,275	4,482	10,757	15,000	
Attorney	20,000	9,551	9,551	19,102	20,000	
Legal Fees Contingency	5,000	-	5,000	5,000	5,000	
Annual Audit	3,600	3,300	-	3,300	3,400	
Assessment Roll - Admin	5,000	5,000	-	5,000	5,000	
Assessment Roll - County	3,090	-	2,819	2,819	3,090	
Dissemination Agent	2,400	1,400	1,000	2,400	2,520	
Trustee Fees	4,435	-	4,041	4,041	4,041	
Management Fees	35,000	20,417	14,583	35,000	36,750	
Information Technology	1,800	1,050	750	1,800	1,890	
Postage & Delivery	100	-	50	50	100	
Insurance General Liability	7,690	6,775	-	6,775	7,453	
Legal Advertising	3,000	1,819	1,299	3,118	3,000	
Other Current Charges	1,000	1,289	921	2,210	2,500	
Website Admin	1,200	700	500	1,200	1,260	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total General & Administrative:	$	109,949	$	60,119	$	47,149	$	107,267	$	117,638	

Field 
Field Management	

$	7,725	

$	4,506	

3,219	

$	7,725	

$	8,111	
Electric	900	329	329	658	900	
Streetlighting	12,275	6,708	6,708	13,416	12,275	
Water	6,500	3,073	3,073	6,146	6,500	
Property Insurance	2,686	2,457	-	2,457	2,334	
General Repairs & Maintenance	5,000	-	5,000	5,000	10,000	
Landscape Maintenance	32,880	18,620	13,300	31,920	37,920	
Landscape Contingency	9,000	2,640	6,000	8,640	9,000	
Irrigation Repairs	2,500	900	643	1,543	2,500	
Holiday Lights	-	-	-	-	2,500	
Contingency	12,500	14,835	5,000	19,835	12,500	
Total Field	$	91,966	$	54,068	$	43,271	$	97,339	$	104,540	
						
Total Expenditures	$	201,915	$	114,187	$	90,420	$	204,607	$	222,178	
						
Excess (Deficiency) of Revenues over Expenditures	$	60,215	$	146,712	$	(86,806)	$	59,906	$	181,169	

Other Financing Sources/(Uses):						
Transfer Out - Capital Reserve	$	(60,215)	$	-	$	(60,215)	$	(60,215)	$	(181,169)	
Total Other Financing Sources/(Uses)	$	(60,215)	$	-	$	(60,215)	$	(60,215)	$	(181,169)	
						
Excess Revenues/(Expenditures)	$	-	$	146,712	$	(147,021)	$	(309)	$	-	

Highland Meadows
Community Development District
Budget Narrative Fiscal Year 2027

REVENUES

Special Assessments- On Roll
The District will levy a Non-Ad Valorem assessment on platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Interest Income
The District will have all excess funds invested with Bank United. The amount is based open the estimated average balance of funds available during the fiscal year.
Misc. Income
Any other income that is not mentioned above.

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. The budgeted amount for the fiscal year is based on all 5 supervisors attending 6 meetings.
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, Dewberry Engineers Inc. will provide general engineering services to the District, i.e. attendance and preparation for board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, Kilinski Van Wyk, PLCC will be providing general legal services to the District, i.e., attendance and preparation for 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 from the previous year engagement with Grau and Associates plus anticipated increase.
Assessment Administration - Admin
GMS CF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Assessment Administration - County
Polk County charges 1% of the roll to include the CDD assessments on the County tax roll.

Trustee Fees
The District bonds will be held and administered by a Trustee at U.S. Bank. 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-Central Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.

Highland Meadows
Community Development District
Budget Narrative Fiscal Year 2027

Expenditures - Administrative (continued)

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 – South Florida, 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-CF, LLC and updated monthly.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance General Liability
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 upon similar Community Development Districts.

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.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.

Expenditures – Field

Field Management Services
The District has contracted with GMS-CF, LLC for the onsite management, contract administration and vendor oversite.

Electric
The District has the following account with Duke Energy to provide electric for lighting of entry features and signs within the District.

Street Lighting

Account#	Location
910082726644 508 Highland Meadows St Unit A 910092775437 101 Highland Meadows St Unit A

The District has the following accountswith Duke Energy to provide electric for street lighting:
Account#	Location
910082726884  0 County Rd 547 N Lite Phs2
910082775198  0 County Rd 547 N Lite
Water
The Districts the following account with the City of Davenport to provide water to the District:
Account#	Location
2270 Highland Meadows St
Landscape Maintenance
This represents landscape maintenance of all District property, to include mowing, edging, trimming, blowing etc. The District is contracted with Prince & Sons based on the following:
Vendor	Montly Amount	Annual Amount	
Prince & Sons	$2,740	$32,878	
Landscape Contingency
Represents any un-budgeted expense related to the landscaping of the District including mulching, annuals and tree trimming
Irrigation Repairs & Maintenance
Represents the costs associated with the Irrigation system within the District.

Highland Meadows
Community Development District Proposed Budget
Reserve Fund

Description

Adopted Budget FY2026

Actuals Thru 4/30/26

Projected Next
5 Months

Projected Thru 9/30/26

Proposed Budget FY2027

Revenues

Interest Income	$	-	$	1,020	$	700	$	1,720	$	1,000	
Total Revenues	$	-	$	1,020	$	700	$	1,720	$	1,000	

Expenditures						
Other Current Charges Capital Outlay	-
-	350
-	300
-	650
-	1,000
-	
Total Expenditures	$	-	$	350	$	300	$	650	$	1,000	
						
Excess (Deficiency) of Revenues over Expenditures	
$	-	
$	670	
$	400	
$	1,070	
$	-	

Other Financing Sources/(Uses):						
Transfer In/(Out)	$	60,215	$	-	$	60,215	60,215	$ 181,169	
Total Other Financing Sources/(Uses)	$	60,215	$	-	$	60,215	$	60,215	$ 181,169	
						
Excess Revenues/(Expenditures)	$	60,215	$	670	$	400	$	61,285	$	-	

Highland Meadows
Community Development District Proposed Budget
Debt Service Fund Series 2006A

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues						
Assessments	$	87,048	$	88,137	$	-	$	88,137	$	82,200	
Interest	-	2,102	500	2,602	-	
Carry Forward Surplus	44,783	36,050	-	36,050	34,278	
Total Revenues	$	131,831	$	126,289	$	500	$	126,789	$	116,478	

Expenditures						
Interest - 11/1	$	19,113	18,425	$	-	$	18,425	$	16,913	
Principal - 5/1	45,000	-	45,000	45,000	45,000	
Interest - 5/1	19,113	-	18,150	18,150	16,913	
Special Call - 11/1	-	10,000	-	10,000	-	
Property Appraiser	-	936	-	936	-	
Total Expenditures	$	83,225	$	29,361	$	63,150	$	92,511	$	78,825	
						
Excess Revenues/(Expenditures)	$	48,606	$	96,928	$	(62,650)	$	34,278	$	37,653	
				
Interest - 11/1/27	
$	15,675	

Highland Meadows Community Development District Series 2006A Special Assessment Bonds Amortization Schedule

Date		Balance	Coupon		Principal	Interest	Total	

05/01/26	
$	
660,000.00	
5.50%	
$	
45,000.00	$	
18,150.00  $	
-	
11/01/26	$	615,000.00	5.50%	$	-	$	16,912.50  $	80,062.50	
05/01/27	$	615,000.00	5.50%	$	45,000.00	$	16,912.50  $	-	
11/01/27	$	570,000.00	5.50%	$	-	$	15,675.00  $	77,587.50	
05/01/28	$	570,000.00	5.50%	$	50,000.00	$	15,675.00  $	-	
11/01/28	$	520,000.00	5.50%	$	-	$	14,300.00  $	79,975.00	
05/01/29	$	520,000.00	5.50%	$	55,000.00	$	14,300.00  $	-	
11/01/29	$	465,000.00	5.50%	$	-	$	12,787.50  $	82,087.50	
05/01/30	$	465,000.00	5.50%	$	55,000.00	$	12,787.50  $	-	
11/01/30	$	410,000.00	5.50%	$	-	$	11,275.00  $	79,062.50	
05/01/31	$	410,000.00	5.50%	$	60,000.00	$	11,275.00  $	-	
11/01/31	$	350,000.00	5.50%	$	-	$	9,625.00  $	80,900.00	
05/01/32	$	350,000.00	5.50%	$	60,000.00  $	9,625.00  $	-	
11/01/32	$	290,000.00	5.50%	$	-	$	7,975.00  $	77,600.00	
05/01/33	$	290,000.00	5.50%	$	65,000.00  $	7,975.00  $	-	
11/01/33	$	225,000.00	5.50%	$	-	$	6,187.50  $	79,162.50	
05/01/34	$	225,000.00	5.50%	$	70,000.00  $	6,187.50  $	-	
11/01/34	$	155,000.00	5.50%	$	-	$	4,262.50  $	80,450.00	
05/01/35	$	155,000.00	5.50%	$	75,000.00  $	4,262.50  $	-	
11/01/35	$	80,000.00	5.50%	$	-	$	2,200.00  $	81,462.50	
05/01/36	$	80,000.00	5.50%	$	80,000.00  $	2,200.00  $	-	
						$	82,200.00	
				$	660,000.00  $	220,550.00  $	880,550.00	

Highland Meadows
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	
O&M Units	Bonds Units Series 2006A	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
Gross		
FY2027	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	

Single Family	

222	

96	

$1,950.00	

$1,269.64	

$680.36	

$920.70	

$975.00	

-$54.30	

$2,870.70	

$2,244.64	

$626.06	
Total	222	96										
Net		
FY2027	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	

Single Family	

222	

96	

$1,833.00	

$1,193.46	

$639.54	

$856.25	

$916.50	

-$60.25	

$2,689.25	

$2,109.96	

$579.29	
Total	222	96