Highland Meadow	
Community Development District	

Adopted 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 Schedule	

Highland Meadow	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	6/30/26	3 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	262,130	$	266,190	$	-	$	266,190	$	402,597	
Interest Income	-	1,077	364	1,441	-	
Misc. Income	-	942	-	942	750	
Carry Forward Surplus	-	39,554	-	39,554	47,373	

TOTAL REVENUES	$	262,130	$	307,763	$	364	$	308,128	$	450,720	

EXPENDITURES:

Administrative:						
Supervisor Fees/FICA	$	6,459	$	4,091	$	430	$	4,521	$	6,459	
Engineering	10,000	12,735	5,500	18,235	15,000	
Attorney	20,000	13,362	5,740	19,102	20,000	
Legal Fees Contingency	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	-	-	-	-	
Dissemination Agent	2,400	1,800	600	2,400	2,520	
Trustee Fees	4,435	-	4,041	4,041	4,041	
Management Fees	35,000	26,250	8,750	35,000	36,750	
Information Technology	1,800	1,350	450	1,800	1,890	
Postage & Delivery	100	1	49	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	1,436	774	2,210	2,500	
Website Admin	1,200	900	300	1,200	1,260	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	109,949	$	78,993	$	27,934	$	106,927	$	114,548	

Operations & Maintenance

Field 						
Field Management	$	7,725	$	5,794	$	1,931	$	7,725	$	8,111	
Electric	900	459	350	809	900	
Streetlighting	12,275	8,559	4,857	13,416	12,275	
Water	6,500	4,079	2,067	6,146	6,500	
Property Insurance	2,686	2,457	-	2,457	2,334	
General Repairs & Maintenance	5,000	-	4,000	4,000	10,000	
Landscape Maintenance	32,880	23,940	7,980	31,920	37,920	
Landscape Contingency	9,000	2,640	6,000	8,640	9,000	
Irrigation Repairs	2,500	967	576	1,543	2,500	
Holiday Lights	-	-	-	-	2,500	
Contingency	12,500	14,968	1,988	16,956	12,500	
		-				
Total Field	$	91,966	$	48,895	$	29,749	$	93,612	$	104,540	

TOTAL EXPENDITURES	$	201,915	$	127,888	$	57,683	$	200,539	$	219,088	
Other Financing Sources/(Uses):

Transfer Out - Capital Reserve	$	(60,215)	$	-	$	(60,215)	$	(60,215)	$	(231,632)	

TOTAL OTHER SOURCES/(USES)	$	(60,215)	$	-	$	(60,215)	$	(60,215)	$  (231,632)	

EXCESS REVENUES (EXPENDITURES)	$	-	$	179,876	$  (117,534)	$	47,373	$	-	

Highland Meadow	
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 upon 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.	
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.	
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.	
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.	

Highland Meadow	
Community Development District	
Budget Narrative	
Fiscal Year 2027	

Expenditures - Administrative (continued)	
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.	

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.	
Account#	Location			
910082726644	508 Highland Meadows St Unit A			
910092775437	101 Highland Meadows St Unit A			
Street Lighting				
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	$3,160	$37,920	
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.	
Holiday Lights				
Provides for basic holiday lighting at commnity entrance monuments.	

Highland Meadow	
Community Development District	
Proposed Budget	
Capital Reserve Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	6/30/26	3 Months	9/30/26	FY 2027	

REVENUES:

Interest Income	$	-	$	1,306	$	414	$	1,720	$	1,000	
Carry Forward Balance	-	-	-	-	61,285	

TOTAL REVENUES	$	-	$	1,306	$	414	$	1,720	$	62,285	

EXPENDITURES:

Capital Outlay

Other Current Charges	$	-	$	450	$	200	$	650	$	1,000	

TOTAL EXPENDITURES	$	-	$	450	$	200	$	650	$	1,000	

Other Sources/(Uses)

Transfer In - Capital Reserve	$	60,215	$	-	$	60,215	$	60,215	$	231,632	

TOTAL OTHER SOURCES/(USES)	$	60,215	$	-	$	60,215	$	60,215	$	231,632	

EXCESS REVENUES (EXPENDITURES)	$	60,215	$	856	$	60,429	$	61,285	$	292,917	

Highland Meadow	
Community Development District	
Adopted Budget	
Debt Service Series 2006A Special Assessment Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	6/30/26	3 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	87,048	$	88,137	$	-	$	88,137	$	82,200	
Interest Earnings	-	2,102	500	2,602	-	
Carry Forward Surplus (1)	44,783	36,050	-	36,050	35,214	

TOTAL REVENUES	$	131,831	$	126,289	$	500	$	126,789	$	117,414	

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	-	

TOTAL EXPENDITURES	$	83,225	$	91,575	$	-	$	91,575	$	78,825	

EXCESS REVENUES (EXPENDITURES)	$	48,606	$	34,714	$	500	$	35,214	$	38,589	

Interest Due 11/1/27	$15,675.00	
	$15,675.00	

(1) Carry Forward is Net of Reserve Requirement

Highland Meadow	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2006A Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/26	$	660,000	5.500%	$	45,000	$	18,150	$	-	
11/01/26	615,000	5.500%	-	16,913	80,062.50	
05/01/27	615,000	5.500%	45,000	16,913	-	
11/01/27	570,000	5.500%	-	15,675	77,587.50	
05/01/28	570,000	5.500%	50,000	15,675	-	
11/01/28	520,000	5.500%	-	14,300	79,975.00	
05/01/29	520,000	5.500%	55,000	14,300	-	
11/01/29	465,000	5.500%	-	12,788	82,087.50	
05/01/30	465,000	5.500%	55,000	12,788	-	
11/01/30	410,000	5.500%	-	11,275	79,062.50	
05/01/31	410,000	5.500%	60,000	11,275	-	
11/01/31	350,000	5.500%	-	9,625	80,900.00	
05/01/32	350,000	5.500%	60,000	9,625	-	
11/01/32	290,000	5.500%	-	7,975	77,600.00	
05/01/33	290,000	5.500%	65,000	7,975	-	
11/01/33	225,000	5.500%	-	6,188	79,162.50	
05/01/34	225,000	5.500%	70,000	6,188	-	
11/01/34	155,000	5.500%	-	4,263	80,450.00	
05/01/35	155,000	5.500%	75,000	4,263	-	
11/01/35	80,000	5.500%	-	2,200	81,462.50	
05/01/36	80,000	5.500%	80,000	2,200	82,200.00	

Total	$	660,000	$	220,550	$	880,550	
**Updated after 10/1/25 Special Call	

Highland Meadow	
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	

$1,813.50	

$1,193.46	

$620.04	

$856.25	

$916.50	

-$60.25	

$2,669.75	

$2,109.96	

$559.79	
Total	222	96