Hicks Ditch
Community Development District Agenda
April 22, 2026

Agenda

Hicks Ditch
Community Development District
219 E. Livingston Street, Orlando, FL 32801 Phone: 407-841-5524 – Fax: 407-839-1526
April 15, 2026 Board of Supervisors
Hicks Ditch Community
Development District Dear Board Members:
The Meeting of the Board of Supervisors of the Hicks Ditch Community Development District will be held on Wednesday, April 22, 2026, at 10:00 AM the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, FL 34711. Following is the advance agenda for the regular meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period
Approval of Minutes of the January 28, 2026, Board of Supervisors Meeting
	Consideration of Resolution 2026-03 Approving the Fiscal Year 2027 Proposed Budget and Setting a Public Hearing to Adopt
Presentation of Series 2024 Arbitrage Rebate Report
Staff Reports
Attorney
Engineer
Field Manager
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Other Business
Supervisors Requests
Adjournment

Minutes

MINUTES OF MEETING HICKS DITCH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Hicks Ditch Community Development District was held Wednesday, January 28, 2026, at 10:00 a.m. at the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, Florida.

Present and constituting a quorum:

Tony Iorio	Chairman
Doug Beasley	Vice Chairman
Jonas Lonas	Assistant Secretary
Rocky Owen	Assistant Secretary
Shane Blanton	Assistant Secretary Also present were:
George Flint	District Manager, GMS
Sarah Sandy	District Counsel, Kutak Rock
Major Stacey by phone	District Engineer
Rob Szozda	Field Manager

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll. Five Board members were present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Flint stated that only Board members and staff were present at the meeting.

THIRD ORDER OF BUSINESS	Organizational Matters
Administration of Oaths of Office to Newly Elected Supervisors
Mr. Flint stated the landowner election from last November had reelected Mr. Lonas, Mr. Beasley, and Mr. Owen to the Board. The oath of office forms had already been handled before the meeting.

Consideration of Resolution 2026-01 Canvassing and Certifying Results of Landowners Election
Mr. Flint reviewed Resolution 2026-01 to officially certify the election results, noting the vote totals and that Mr. Lonas and Mr. Beasley would serve four-year terms while Mr. Owen would serve a two-year term.

On MOTION by Mr. Iorio, seconded by Mr. Lonas, with all in favor, Resolution 2026-01 Canvassing and Certifying Results of Landowners Election, was approved.

Election of Officers
Mr. Flint stated after each election the Board had to review the officer positions again.

Consideration of Resolution 2026-02 Electing Officers
Mr. Flint reviewed Resolution 2026-02 and explained that they could either vote on each Board seat separately or approve all positions together as a slate. Mr. Iorio made a motion to keep all the seats the same.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, 2026-02 Electing Officers Keeping the Same Officers, was approved.

FOURTH ORDER OF BUSINESS	Approval of Minutes of the August 27,
2025 Board of Supervisors Meeting
Mr. Flint stated that they had reviewed the August 27, 2025 meeting minutes and asked for any comments, corrections, or changes. The Board had no changes to the minutes.

On MOTION by Mr. Lonas, seconded by Mr. Beasley, with all in favor, the Minutes of the August 27, 2025 Board of Supervisors Meeting, were approved.

FIFTH ORDER OF BUSINESS	Approval of Minutes of the November 4,
2025 Landowners Meeting
Mr. Flint reviewed the November 4, 2025 landowner meeting minutes asked for any comments, corrections, or changes. The Board had no changes to the minutes.

On MOTION by Mr. Beasley, seconded by Mr. Blanton, with all in favor, the Minutes of the November 4, 2025 Landowners Meeting, were approved.

SIXTH ORDER OF BUSINESS	Consideration of Series 2024 Arbitrage
Rebate Proposal
Mr. Flint noted that the Board reviewed a proposal for arbitrage rebate calculation services for the Series 2024 bonds. He stated that the IRS required the District to prove it is not earning more interest than it pays on the bonds. Mr. Flint presented a five-year proposal from AMTEC at
$450 per year.

On MOTION by Mr. Iorio, seconded by Mr. Lonas, with all in favor, the Series 2024 Arbitrage Rebate Proposal, was approved.

SEVENTH ORDER OF BUSINESS	Ratification of Landscape Maintenance
Agreement
Mr. Flint discussed ratifying the landscape maintenance agreement and stated that there had been extensive back-and-forth pricing before they finally agreed on an amount that matched the vendor's existing rate. Contours had been selected as the contractor, though it had originally been held under advisement while pricing details were worked out. The Board discussed a separate section currently maintained by the city and Mr. Flint stated they had negotiated the price down but were still not fully satisfied. If the District ever took over that area, they would rebid it and seek additional proposals.
Mr. Flint noted they had replaced the previous supervisor due to performance concerns and assigned a new supervisor, Dave Easter, who was described as attentive and already familiar with related work. Staff are now meeting with him at least monthly to review property conditions. It was also mentioned that a previously quoted walking trail repair had not yet been completed and that the new supervisor was directed to correct it soon.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Landscape Maintenance Agreement, was ratified.

EIGHTH ORDER OF BUSINESS	Ratification	of	Aquatic	Maintenance
Agreement
Mr. Flint reviewed the Solitude agreement. Three companies bid on the work, and although one company was cheaper, they didn’t have a solid track record. The Board chose Solitude who had proven experience and a competitive price. Staff said Solitude was already treating cattails and working on pond edges, and conditions should improve over time.

On MOTION by Mr. Beasley, seconded by Mr. Lonas, with all in favor, the Aquatic Maintenance Agreement, was ratified.

NINTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Sandy stated that the legislative session had started and that the Board would be getting email updates about bills and discussions that could affect Special Districts. She told everyone to reach out if they had questions about those updates and said she didn’t have anything else to report.

Engineer
Mr. Stacey stated that they were still working to resolve the stormwater permit transfer with the Water Management District because only one sequence had been transferred, and it had been assigned incorrectly. The amenity-related sequence was moved when it shouldn’t have been, while the other needed sequences were not. Mr. Stacey stated he would follow up with the permitting team to correct it. He noted that they also discussed the trail east of Hicks Ditch and agreed that the layout and design were done very well, giving credit to the designer and engineer. The Board clarified that the permit covered stormwater and drainage systems associated with roads and ponds, not the amenity buildings. It was confirmed that the HOA kept responsibility for the amenity facilities, while the CDD handled the roadway and pond-related stormwater infrastructure.

Field Manager’s Report
Consideration of Red Maple Replacement in Tract U
Contours Landscape Solution
Cherry Lake

Mr. Szozda stated that the property generally looked good overall. He noted two items were still outstanding: the trail area damaged by equipment still needed correction, and the work order was with Contours, with a reminder sent to them. He also reported that after 15 dead maples were replaced last summer with bald cypress, another eight red maples had since died. He got two replacement proposals and said bald cypress showed better survivability at about the same price as red maples. The new Contours quote was close to $4,000 and slightly higher than before, and he received a bid from Cherry Lake for roughly half the cost, about $2,195.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Cherry Lake Proposal for Red Maple Replacement in Tract U, was approved.

District Manager’s Report
Balance Sheet and Income Statement
Mr. Flint presented the unaudited financials. The Board had no questions.

Ratification of Funding Request No. 43-47
Mr. Flint presented Funding Request Nos. 43-47 that were transmitted under the funding agreement. He requested that the Board ratify the funding requests.

On MOTION by Mr. Iorio, seconded by Mr. Owen, all in favor, Funding Requests Nos. 43-47, were ratified.

Approval of Funding Request No. 48
Mr. Flint presented Funding Request No. 48 and asked for approval from the Board.

On MOTION by Mr. Lonas, seconded by Mr. Beasley, with all in favor, Funding Request No. 48, was approved.

TENTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

ELEVENTH ORDER OF BUSINESS	Supervisors'	Requests	and	Audience
Comments
There being no comments, the next item followed.

TWELFTH ORDER OF BUSINESS	Adjournment
Mr. Flint moved for an adjournment.

On MOTION by Mr. Iorio, seconded by Mr. Owen, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

RESOLUTION 2026-03
[FY 2027 BUDGET APPROVAL RESOLUTION]

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGET(S) FOR FY 2027; SETTING A PUBLIC HEARING THEREON AND DIRECTING PUBLICATION; ADDRESSING TRANSMITTAL AND POSTING REQUIREMENTS; ADDRESSING SEVERABILITY AND EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY 2027”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Hicks Ditch Community Development District (“District”) prior to June 15, 2026, the proposed budget(s) attached hereto as Exhibit A (“Proposed Budget”); and
WHEREAS, the Board now desires to set the required public hearing on the Proposed Budget.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT:

PROPOSED BUDGET APPROVED. The Proposed Budget attached hereto as
Exhibit A is hereby approved preliminarily.

SETTING A PUBLIC HEARING; DIRECTING PUBLICATION. A public
hearing on said approved Proposed Budget is hereby declared and set for the following date, time, and location, and District staff is directed to provide notice of the same in accordance with Florida law:

DATE:	July 22, 2026
TIME:	10:00 AM
LOCATION:	Cooper Memorial Library
2525 Oakley Seaver Drive Clermont, FL 34711

TRANSMITTAL TO LOCAL GENERAL PURPOSE GOVERNMENT;
POSTING OF PROPOSED BUDGET. The District Manager is hereby directed to (i) submit a copy of the Proposed Budget to the applicable local general-purpose government(s) at least 60 days prior to its adoption, and (ii) post the approved Proposed Budget on the District’s website in accordance with Chapter 189, Florida Statutes.
SEVERABILITY; EFFECTIVE DATE. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.  This Resolution shall take effect

immediately upon adoption.

PASSED AND ADOPTED THIS 22nd DAY OF APRIL 2026.

ATTEST:	HICKS DITCH COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair/Vice Chair, Board of Supervisors

Exhibit A:	Proposed Budget

Hicks Ditch
Community Development District

Proposed Budget
FY2027

Table of Contents

1

2 - 4

5

	General Fund

	General Fund Narrative

	Debt Service - Series 2024

6		Amortization Schedule

Hicks Ditch
Community Development District General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Projected Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues						
Assessments - On Roll	$	63,630	$	63,685	$	-	$	63,685	$	106,400	
Assessments - Direct	$	63,523	$	27,658	$	9,219	$	36,877	$	35,751	
Assessments - Lot Closings	$	-	$	26,645	$	-	$	26,645	$	-	
Developer Contributions	$	141,805  $	29,860	$	24,818	$	54,679	$	88,517	
Interest	$	-	$	840	$	840	$	1,680	$	-	
Total Revenues		$	268,958	$	148,688	$	34,878	$	183,566	$	230,668	

Expenditures									
General & Administrative									
Supervisor Fees		$	2,400	$	400	$	1,600	$	2,000	$	2,400	
FICA Expense		$	184	$	31	$	122	$	153	$	184	
Engineering Fees		$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Attorney Fees		$	15,000	$	4,747	$	5,739	$	10,485	$	15,000	
Annual Audit		$	3,400	$	-	$	3,400	$	3,400	$	3,500	
Assessment Administration		$	5,000	$	5,000	$	-	$	5,000	$	5,150	
Arbitrage Fees		$	450	$	450	$	-	$	450	$	450	
Dissemination Fees		$	5,000	$	2,500	$	2,500	$	5,000	$	5,150	
Trustee Fees		$	4,620	$	4,246	$	-	$	4,246	$	4,246	
Management Fees		$	40,000	$	20,000	$	20,000	$	40,000	$	41,200	
Information Technology		$	1,800	$	900	$	900	$	1,800	$	1,854	
Website Maintenance		$	1,200	$	600	$	600	$	1,200	$	1,236	
Telephone		$	100	$	-	$	50	$	50	$	100	
Postage & Delivery		$	200	$	88	$	92	$	180	$	200	
Insurance		$	7,201	$	5,512	$	-	$	5,512	$	6,063	
Printing & Binding		$	250	$	2	$	25	$	27	$	250	
Legal Advertising		$	5,000	$	734	$	1,342	$	2,076	$	5,000	
Contingency		$	2,500	$	600	$	720	$	1,320	$	2,500	
Office Supplies		$	250	$	1	$	25	$	26	$	250	
Travel Per Diem		$	200	$	-	$	100	$	100	$	200	
Dues, Licenses & Subscriptions		$	175	$	175	$	-	$	175	$	175	
Total Administrative		$	104,930	$	45,986	$	42,215	$	88,201	$	105,108	

Operation and Maintenance
Field Expenditures
Property Insurance		

$	

4,500	

$	

-	

$	2,250	

$	2,250	

$	4,500	
Field Management		$	10,000	$	5,000	$	5,000	$	10,000	$	10,300	
Landscape Maintenance		$	63,425	$	15,288	$	15,288	$	30,576	$	42,000	
Landscape Contingency		$	5,500	$	9,760	$	8,999	$	18,759	$	5,500	
Lake Maintenance		$	6,843	$	2,400	$	2,400	$	4,800	$	6,000	
Streetlights		$	27,760	$	-	$	13,880	$	13,880	$	27,760	
Water & Sewer		$	30,000	$	2,462	$	3,446	$	5,908	$	15,000	
Irrigation Repairs		$	3,500	$	-	$	1,750	$	1,750	$	2,000	
General Repairs & Maintenance		$	10,000	$	3,893	$	2,300	$	6,193	$	10,000	
Contingency		$	2,500	$	-	$	1,250	$	1,250	$	2,500	
Total O&M Expenditures:		$	164,028	$	38,802	$	56,563	$	95,365	$	125,560	
									
Total Expenditures		$	268,958	$	84,788	$	98,778	$	183,566	$	230,668	
									
Excess Revenues/(Expenditures)		$	-	$	63,900	$	(63,900)	$	-	$	-	
									
Product	ERU		Assessable Units		Total ERU's	Net Assessment	Net Per Unit	Gross Per Unit	
Townhome	0.75		76		57.00	$19,950.00	$262.50	$279.26	
Single Family 40'	0.80		120		96.00	$33,600.00	$280.00	$297.87	
Single Family 50'	1.00		151		151.00	$52,850.00	$350.00	$372.34	
Unplatted			191			$35,750.73			
Developer Contribution						$88,516.87			
Total ERU's			538		304.00	$230,667.60			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and 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 provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney Fees

The District's legal counsel, Kutak Rock LLP, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its bonds and any other anticipated bond issuance.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues.

Trustee Fees

The District will pay annual trustee fees for the bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc

Website Maintenance

Represents the costs with Governmental Management Services – Central Florida, LLC 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.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Printing & Binding

Printing agenda copies for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Services

Property Insurance

The District’s property insurance coverages.

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the maintenance of the landscaping within the common areas of the District.

Landscape Contingency

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the Lake maintenance for the District.

Street Lights

Encompasses the budgeted amount for the District’s decorative light poles and fixtures in various locations.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Hicks Ditch
Community Development District

Debt Service Fund Series 2024

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Projected Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues						
Assessments	$	359,188	$	199,217	$	159,971	$	359,188	$	359,188	
Assessments - Prepayments	$	-	$	155,630	$	-	$	155,630	$	-	
Interest Income	$	2,000	$	6,713	$	3,500	$	10,213	$	2,000	
Carry Forward Surplus *	$	175,432	$	178,065	$	-	$	178,065	$	306,819	
Total Revenues	$	536,620	$	539,624	$	163,471	$	703,095	$	668,007	

Expenditures						
Interest- 11/01	$	140,346	$	140,346	$	-	$	140,346	$	137,988	
Special Call - 11/01	$	-	$	20,000	$	-	$	20,000	$	-	
Principal - 05/01	$	75,000	$	-	$	75,000	$	75,000	$	75,000	
Interest - 05/01	$	140,346	$	-	$	139,826	$	139,826	$	137,988	
Special Call - 05/01	$	-	$	-	$	5,000	$	5,000	$	-	
Total Expenditures	$	355,691	$	160,346	$	219,826	$	380,172	$	350,975	

Other Financing Sources/(Uses)

Transfer In/(Out)	$	-	$	(16,103)	$	-	$	(16,103)	$	-	
Total Other Financing Sources/(Uses)	$	-	$	(16,103)	$	-	$	(16,103)	$	-	
				
Excess Revenues/(Expenditures)	$	180,929	$	363,175	$	(56,355)	$	306,819	$	317,032	

*Carry forward less amount in Reserve funds.				
				Series 2024 Interest - 11/01	

$136,281	
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Townhome	76	$53,568	$704.84	$749.83		
Single Family - 40'	120	$135,330	$1,127.75	$1,199.73		
Single Family - 50'	151	$170,290	$1,127.75	$1,199.73		
Total ERU's	347	$359,188				

Hicks Ditch Community Development District Series 2024 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	
									
11/01/26	$	5,090,000.00	$	-	$	137,987.50	$	137,987.50	
05/01/27	$	5,090,000.00	$	75,000.00	$	137,987.50			
11/01/27	$	5,015,000.00	$	-	$	136,281.25	$	349,268.75	
05/01/28	$	5,015,000.00	$	80,000.00	$	136,281.25			
11/01/28	$	4,935,000.00	$	-	$	134,461.25	$	350,742.50	
05/01/29	$	4,935,000.00	$	85,000.00	$	134,461.25			
11/01/29	$	4,850,000.00	$	-	$	132,527.50	$	351,988.75	
05/01/30	$	4,850,000.00	$	90,000.00	$	132,527.50			
11/01/30	$	4,760,000.00	$	-	$	130,480.00	$	353,007.50	
05/01/31	$	4,760,000.00	$	95,000.00	$	130,480.00			
11/01/31	$	4,665,000.00	$	-	$	128,318.75	$	353,798.75	
05/01/32	$	4,665,000.00	$	95,000.00	$	128,318.75			
11/01/32	$	4,570,000.00	$	-	$	125,801.25	$	349,120.00	
05/01/33	$	4,570,000.00	$	105,000.00	$	125,801.25			
11/01/33	$	4,465,000.00	$	-	$	123,018.75	$	353,820.00	
05/01/34	$	4,465,000.00	$	110,000.00	$	123,018.75			
11/01/34	$	4,355,000.00	$	-	$	120,103.75	$	353,122.50	
05/01/35	$	4,355,000.00	$	115,000.00	$	120,103.75			
11/01/35	$	4,240,000.00	$	-	$	117,056.25	$	352,160.00	
05/01/36	$	4,240,000.00	$	120,000.00	$	117,056.25			
11/01/36	$	4,120,000.00	$	-	$	113,876.25	$	350,932.50	
05/01/37	$	4,120,000.00	$	125,000.00	$	113,876.25			
11/01/37	$	3,995,000.00	$	-	$	110,563.75	$	349,440.00	
05/01/38	$	3,995,000.00	$	135,000.00	$	110,563.75			
11/01/38	$	3,860,000.00	$	-	$	106,986.25	$	352,550.00	
05/01/39	$	3,860,000.00	$	140,000.00	$	106,986.25			
11/01/39	$	3,720,000.00	$	-	$	103,276.25	$	350,262.50	
05/01/40	$	3,720,000.00	$	150,000.00	$	103,276.25			
11/01/40	$	3,570,000.00	$	-	$	99,301.25	$	352,577.50	
05/01/41	$	3,570,000.00	$	155,000.00	$	99,301.25			
11/01/41	$	3,250,000.00	$	-	$	95,193.75	$	349,495.00	
05/01/42	$	2,890,000.00	$	165,000.00	$	95,193.75			
11/01/42	$	2,890,000.00	$	-	$	90,821.25	$	351,015.00	
05/01/43	$	2,890,000.00	$	175,000.00	$	90,821.25			
11/01/43	$	2,890,000.00	$	-	$	86,183.75	$	352,005.00	
05/01/44	$	2,890,000.00	$	185,000.00	$	86,183.75			
11/01/44	$	2,890,000.00	$	-	$	81,281.25	$	352,465.00	
05/01/45	$	2,890,000.00	$	195,000.00	$	81,281.25			
11/01/45	$	2,695,000.00	$	-	$	75,796.88	$	352,078.13	
05/01/46	$	2,695,000.00	$	205,000.00	$	75,796.88			
11/01/46	$	2,490,000.00	$	-	$	70,031.25	$	350,828.13	
05/01/47	$	2,490,000.00	$	220,000.00	$	70,031.25			
11/01/47	$	2,270,000.00	$	-	$	63,843.75	$	353,875.00	
05/01/48	$	2,270,000.00	$	230,000.00	$	63,843.75			
11/01/48	$	2,040,000.00	$	-	$	57,375.00	$	351,218.75	
05/01/49	$	2,040,000.00	$	245,000.00	$	57,375.00			
11/01/49	$	1,795,000.00	$	-	$	50,484.38	$	352,859.38	
05/01/50	$	1,795,000.00	$	260,000.00	$	50,484.38			
11/01/50	$	1,535,000.00	$	-	$	43,171.88	$	353,656.25	
05/01/51	$	1,535,000.00	$	275,000.00	$	43,171.88			
11/01/51	$	1,260,000.00	$	-	$	35,437.50	$	353,609.38	
05/01/52	$	1,260,000.00	$	290,000.00	$	35,437.50			
11/01/52	$	970,000.00	$	-	$	27,281.25	$	352,718.75	
05/01/53	$	970,000.00	$	305,000.00	$	27,281.25			
11/01/53	$	665,000.00	$	-	$	18,703.13	$	350,984.38	
05/01/54	$	665,000.00	$	325,000.00	$	18,703.13			
11/01/54	$	340,000.00	$	-	$	9,562.50	$	353,265.63	
05/01/55	$	340,000.00	$	340,000.00	$	9,562.50	$	349,562.50	
			$	5,090,000.00	$	5,250,415.00	$	10,340,415.00	

Section V

REBATE REPORT
$5,235,000
Hicks Ditch Community Development District
(City of Eustis, Florida)
Capital Improvement Revenue Bonds, Series 2024 (2024 Assessment Area)

Dated: November 22, 2024
Delivered: November 22, 2024

Rebate Report to the Computation Date November 22, 2029
Reflecting Activity Through January 31, 2026

TABLE OF CONTENTS

AMTEC Opinion	3	
Summary of Rebate Computations	4	
Summary of Computational Information and Definitions	5	
Methodology	7	
Sources and Uses	8	
Proof of Arbitrage Yield	9	
Bond Debt Service	11	
Arbitrage Rebate Calculation Detail Report – Acquisition and Construction Fund	13	
Arbitrage Rebate Calculation Detail Report – Reserve Fund	14	
Arbitrage Rebate Calculation Detail Report – Capitalized Interest Fund	15	
Arbitrage Rebate Calculation Detail Report – Cost of Issuance Fund	16	
Arbitrage Rebate Calculation Detail Report – Rebate Computation Credits	17	

February 24, 2026

Hicks Ditch Community Development District c/o Ms. Katie Costa
Director of Operations – Accounting Division Government Management Services – CF, LLC 6200 Lee Vista Boulevard, Suite 300
Orlando, FL 32822

Re:	$5,235,000 Hicks Ditch Community Development District (City of Eustis, Florida), Capital
Improvement Revenue Bonds, Series 2024 (2024 Assessment Area)	

Dear Ms. Costa:

AMTEC has prepared certain computations relating to the above referenced bond issue (the "Bonds") at the request of Hicks Ditch Community Development District (the “District”).

The scope of our engagement consisted of preparing computations shown in the attached schedules to determine the Rebatable Arbitrage as described in Section 103 of the Internal Revenue Code of 1954, Section 148(f) of the Internal Revenue Code of 1986, as amended (the “Code”), and all applicable Regulations issued thereunder. The methodology used is consistent with current tax law and regulations and may be relied upon in determining the rebate liability. Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions.

Our engagement was limited to the computation of Rebatable Arbitrage based upon the information furnished to us by the District. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy or suitability of such information for purposes of calculating the Rebatable Arbitrage.

We have scheduled our next Report as of November 30, 2026. Thank you for this engagement and should you have any questions, please do not hesitate to contact us.

Very truly yours,

Michael J. Scarfo
Senior Vice President	Trong M. Tran
Assistant Vice President	

SUMMARY OF REBATE COMPUTATIONS
Our computations, contained in the attached schedules, are summarized as follows: For the November 22, 2029 Computation Date
Reflecting Activity from November 22, 2024 through January 31, 2026

Fund Description	Taxable Inv Yield	Net Income	Rebatable Arbitrage	
Acquisition and Construction Fund	3.828657%	284.31	(149.13)	
Reserve Fund	4.145712%	8,776.30	(3,584.87)	
Capitalized Interest Fund	4.271733%	8,321.71	(3,052.23)	
Cost of Issuance Fund	1.951695%	217.73	(502.99)	
Totals	4.140411%	$17,600.05	$(7,289.22)	
Bond Yield	5.509066%		
Rebate Computation Credit	(2,634.78)	
Net Rebatable Arbitrage	$(9,924.00)	

Based upon our computations, no rebate liability exists.

SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS
COMPUTATIONAL INFORMATION

For the purpose of computing Rebatable Arbitrage, investment activity is reflected from November 22, 2024, the date of the closing, through January 31, 2026, the Computation Period. All nonpurpose payments and receipts are future valued to the Computation Date of November 22, 2029.

Computations of yield are based on a 360-day year and semiannual compounding on the last day of each compounding interval. Compounding intervals end on a day in the calendar year corresponding to Bond maturity dates or six months prior.

For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received respectively, as shown on the attached schedules.
Purchase prices on investments are assumed to be at fair market value, representing an arm's length transaction.
During the period between November 22, 2024 and January 31, 2026, the District made periodic payments into the Interest, Sinking, and Prepayment Accounts (collectively, the “Debt Service Fund”), that were used, along with the interest earned, to provide the required debt service payments.
Under Section 148(f)(4)(A), the rebate requirement does not apply to amounts in certain bona fide debt service funds. The Regulations define a bona fide debt service fund as one that is used primarily to achieve a proper matching of revenues with principal and interest payments within each bond year. The fund must be depleted at least once each bond year, except for a reasonable carryover amount not to exceed the greater of the earnings on the fund for the immediately preceding bond year or 1/12th of the principal and interest payments on the issue for the immediately preceding bond year.
We have reviewed the Debt Service Fund and have determined that the funds deposited have functioned as a bona fide debt service fund and are not subject to the rebate requirement.

DEFINITIONS

Computation Date
November 22, 2029.

Computation Period
The period beginning on November 22, 2024, the date of the closing, and ending on January 31, 2026.

Bond Year
Each one-year period (or shorter period from the date of issue) that ends at the close of business on the day in the calendar year that is selected by the issuer. If no day is selected by the issuer before the earlier of the final maturity date of the issue or the date that is five years after the date of issue, each bond year ends at the close of business on the anniversary date of the issuance.

Bond Yield
The discount rate that, when used in computing the present value of all the unconditionally payable payments of principal and interest with respect to the Bonds, produces an amount equal to the present value of the issue price of the Bonds. Present value is computed as of the date of issue of the Bonds.

Taxable Investment Yield
The discount rate that, when used in computing the present value of all receipts of principal and interest to be received on an investment during the Computation Period, produces an amount equal to the fair market value of the investment at the time it became a nonpurpose investment.

Issue Price
The price determined on the basis of the initial offering price to the public at which price a substantial amount of the Bonds was sold.

Rebatable Arbitrage
The Code defines the required rebate as the excess of the amount earned on all nonpurpose investments over the amount that would have been earned if such nonpurpose investments were invested at the Bond Yield, plus any income attributable to the excess. Accordingly, the Regulations require that this amount be computed as the excess of the future value of all the nonpurpose receipts over the future value of all the nonpurpose payments. The future value is computed as of the Computation Date using the Bond Yield.

Funds and Accounts
The Funds and Accounts activity used in the compilation of this Report was received from the District and U.S. Bank, Trustee, as follows:

Fund / Account	Account Number	
Revenue	290159000	
Interest	290159001	
Sinking	290159002	
Prepayment	290159003	
Reserve	290159004	
Acquisition and Construction	290159005	
Capitalized Interest	290159006	
Cost of Issuance	290159007	

METHODOLOGY
Bond Yield
The methodology used to calculate the bond yield was to determine the discount rate that produces the present value of all payments of principal and interest through the maturity date of the Bonds.

Investment Yield and Rebate Amount
The methodology used to calculate the Rebatable Arbitrage, as of January 31, 2026, was to calculate the future value of the disbursements from all funds, subject to rebate, and the value of the remaining bond proceeds, at the yield on the Bonds, to November 22, 2029. This figure was then compared to the future value of the deposit of bond proceeds into the various investment accounts at the same yield. The difference between the future values of the two cash flows, on November 22, 2029, is the Rebatable Arbitrage.

$5,235,000
Hicks Ditch Community Development District (City of Eustis, Florida)
Capital Improvement Revenue Bonds, Series 2024 (2024 Assessment Area)
Delivered: November 22, 2024

Sources of Funds

Par Amount	$5,235,000.00	
Net Original Issue Discount	-6,570.00	
Total	$5,228,430.00	

Uses of Funds

Acquisition and Construction Fund	$4,499,848.17	
Reserve Fund	179,593.75	
Capitalized Interest Fund	266,670.58	
Cost of Issuance Fund	177,617.50	
Underwriter’s Discount	104,700.00	
Total	$5,228,430.00	

11/01/2025	141,595.00	134,531.11	
05/01/2026	216,595.00	200,272.93	
11/01/2026	139,888.75	125,879.68	
05/01/2027	219,888.75	192,563.89	
11/01/2027	138,068.75	117,670.13	
05/01/2028	218,068.75	180,868.65	
11/01/2028	136,248.75	109,976.88	
05/01/2029	221,248.75	173,799.57	
11/01/2029	134,315.00	102,681.31	
05/01/2030	224,315.00	166,887.66	
11/01/2030	132,267.50	95,767.48	
05/01/2031	227,267.50	160,140.53	
11/01/2031	130,106.25	89,219.77	
05/01/2032	230,106.25	153,564.34	
11/01/2032	127,456.25	82,779.37	
05/01/2033	232,456.25	146,926.86	
11/01/2033	124,673.75	76,689.16	
05/01/2034	234,673.75	140,482.59	
11/01/2034	121,758.75	70,934.45	
05/01/2035	236,758.75	134,233.85	
11/01/2035	118,711.25	65,500.85	
05/01/2036	238,711.25	128,181.97	
11/01/2036	115,531.25	60,374.36	
05/01/2037	245,531.25	124,870.21	
11/01/2037	112,086.25	55,475.78	
05/01/2038	247,086.25	119,014.17	
11/01/2038	108,508.75	50,864.39	
05/01/2039	253,508.75	115,648.78	
11/01/2039	104,666.25	46,467.98	
05/01/2040	254,666.25	110,031.62	
11/01/2040	100,691.25	42,338.64	
05/01/2041	260,691.25	106,676.95	
11/01/2041	96,451.25	38,410.59	
05/01/2042	266,451.25	103,266.61	
11/01/2042	91,946.25	34,679.69	
05/01/2043	266,946.25	97,986.00	
11/01/2043	87,308.75	31,188.68	
05/01/2044	272,308.75	94,667.26	
11/01/2044	82,406.25	27,880.30	
05/01/2045	282,406.25	92,984.50	
11/01/2045	76,781.25	24,603.13	
05/01/2046	286,781.25	89,430.37	
11/01/2046	70,875.00	21,509.30	
05/01/2047	290,875.00	85,909.00	
11/01/2047	64,687.50	18,593.09	
05/01/2048	299,687.50	83,829.90	
11/01/2048	58,078.13	15,810.37	
05/01/2049	308,078.13	81,618.61	
11/01/2049	51,046.88	13,161.23	
05/01/2050	311,046.88	78,046.28	
11/01/2050	43,734.38	10,679.44	
05/01/2051	318,734.38	75,744.88	
11/01/2051	36,000.00	8,325.80	
05/01/2052	331,000.00	74,498.99	
11/01/2052	27,703.13	6,068.07	
05/01/2053	337,703.13	71,987.24	

05/01/2054	348,984.38	70,457.05	
11/01/2054	9,703.13	1,906.47	
05/01/2055	354,703.13	67,823.70	
	10,964,635.64	5,228,430.00	
	
Proceeds Summary		

Delivery date	11/22/2024	
Par Value	5,235,000.00	
Premium (Discount)	-6,570.00	
Target for yield calculation	5,228,430.00	

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	Annual Debt Service	
05/01/2025			125,075.58	125,075.58	125,075.58	
11/01/2025			141,595.00	141,595.00		
05/01/2026	75,000	4.550%	141,595.00	216,595.00	358,190.00	
11/01/2026			139,888.75	139,888.75		
05/01/2027	80,000	4.550%	139,888.75	219,888.75	359,777.50	
11/01/2027			138,068.75	138,068.75		
05/01/2028	80,000	4.550%	138,068.75	218,068.75	356,137.50	
11/01/2028			136,248.75	136,248.75		
05/01/2029	85,000	4.550%	136,248.75	221,248.75	357,497.50	
11/01/2029			134,315.00	134,315.00		
05/01/2030	90,000	4.550%	134,315.00	224,315.00	358,630.00	
11/01/2030			132,267.50	132,267.50		
05/01/2031	95,000	4.550%	132,267.50	227,267.50	359,535.00	
11/01/2031			130,106.25	130,106.25		
05/01/2032	100,000	5.300%	130,106.25	230,106.25	360,212.50	
11/01/2032			127,456.25	127,456.25		
05/01/2033	105,000	5.300%	127,456.25	232,456.25	359,912.50	
11/01/2033			124,673.75	124,673.75		
05/01/2034	110,000	5.300%	124,673.75	234,673.75	359,347.50	
11/01/2034			121,758.75	121,758.75		
05/01/2035	115,000	5.300%	121,758.75	236,758.75	358,517.50	
11/01/2035			118,711.25	118,711.25		
05/01/2036	120,000	5.300%	118,711.25	238,711.25	357,422.50	
11/01/2036			115,531.25	115,531.25		
05/01/2037	130,000	5.300%	115,531.25	245,531.25	361,062.50	
11/01/2037			112,086.25	112,086.25		
05/01/2038	135,000	5.300%	112,086.25	247,086.25	359,172.50	
11/01/2038			108,508.75	108,508.75		
05/01/2039	145,000	5.300%	108,508.75	253,508.75	362,017.50	
11/01/2039			104,666.25	104,666.25		
05/01/2040	150,000	5.300%	104,666.25	254,666.25	359,332.50	
11/01/2040			100,691.25	100,691.25		
05/01/2041	160,000	5.300%	100,691.25	260,691.25	361,382.50	
11/01/2041			96,451.25	96,451.25		
05/01/2042	170,000	5.300%	96,451.25	266,451.25	362,902.50	
11/01/2042			91,946.25	91,946.25		
05/01/2043	175,000	5.300%	91,946.25	266,946.25	358,892.50	
11/01/2043			87,308.75	87,308.75		
05/01/2044	185,000	5.300%	87,308.75	272,308.75	359,617.50	
11/01/2044			82,406.25	82,406.25		
05/01/2045	200,000	5.625%	82,406.25	282,406.25	364,812.50	
11/01/2045			76,781.25	76,781.25		
05/01/2046	210,000	5.625%	76,781.25	286,781.25	363,562.50	
11/01/2046			70,875.00	70,875.00		
05/01/2047	220,000	5.625%	70,875.00	290,875.00	361,750.00	
11/01/2047			64,687.50	64,687.50		
05/01/2048	235,000	5.625%	64,687.50	299,687.50	364,375.00	
11/01/2048			58,078.13	58,078.13		
05/01/2049	250,000	5.625%	58,078.13	308,078.13	366,156.26	
11/01/2049			51,046.88	51,046.88		
05/01/2050	260,000	5.625%	51,046.88	311,046.88	362,093.76	
11/01/2050			43,734.38	43,734.38		
05/01/2051	275,000	5.625%	43,734.38	318,734.38	362,468.76	
11/01/2051			36,000.00	36,000.00		
05/01/2052	295,000	5.625%	36,000.00	331,000.00	367,000.00	
11/01/2052			27,703.13	27,703.13		
05/01/2053	310,000	5.625%	27,703.13	337,703.13	365,406.26	

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	Annual Debt Service	
11/01/2053			18,984.38	18,984.38		
05/01/2054	330,000	5.625%	18,984.38	348,984.38	367,968.76	
11/01/2054			9,703.13	9,703.13		
05/01/2055	345,000	5.625%	9,703.13	354,703.13	364,406.26	
	5,235,000		5,729,635.64	10,964,635.64	10,964,635.64	

Acquisition and Construction Fund

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @

DATE	
DESCRIPTION	RECEIPTS (PAYMENTS)	BOND YIELD OF (5.509066%)	
11/22/24	Beg	Bal	-4,499,848.17	-5,904,834.75	
11/22/24		4,499,848.17	5,904,834.75	
06/09/25		-5,567.73	-7,092.06	
11/05/25		-16,103.37	-20,065.00	
01/31/26	Bal	21,890.41	26,927.97	
01/31/26	Acc	65.00	79.96	
11/22/29	TOTALS:	284.31	-149.13	

ISSUE DATE:	11/22/24	
REBATABLE ARBITRAGE:	
-149.13	
COMP DATE:	11/22/29	NET INCOME:	284.31	
BOND YIELD: 5.509066%	TAX INV YIELD:	3.828657%	

	Reserve Fund		
	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(5.509066%)	
11/22/24	Beg Bal	-179,593.75	-235,668.27	
12/03/24	198.55	260.11	
01/03/25	667.99	871.15	
02/04/25	647.73	840.78	
03/04/25	585.05	755.99	
04/02/25	647.72	833.44	
05/02/25	626.83	802.92	
06/03/25	647.65	825.71	
07/02/25	626.83	795.68	
08/04/25	647.72	818.23	
09/03/25	647.14	813.93	
10/02/25	606.66	759.68	
11/03/25	1,583.76	1,973.98	
11/04/25	607.12	756.59	
12/02/25	548.46	680.61	
01/05/26	542.30	669.62	
01/31/26	Bal	178,009.99	218,974.80	
01/31/26	Acc	528.55	650.18	
11/22/29	TOTALS:	8,776.30	-3,584.87	

ISSUE DATE:	11/22/24	
REBATABLE ARBITRAGE:	
-3,584.87	
COMP DATE:	11/22/29	NET INCOME:	8,776.30	
BOND YIELD: 5.509066%	TAX INV YIELD:	4.145712%	

	Capitalized Interest Fund		
	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(5.509066%)	
11/22/24	Beg Bal	-266,670.58	-349,933.07	
12/03/24	-198.55	-260.11	
01/03/25	-667.99	-871.15	
02/04/25	-647.73	-840.78	
03/04/25	-585.05	-755.99	
04/02/25	-647.72	-833.44	
05/01/25	125,075.59	160,235.32	
05/02/25	-626.83	-802.92	
06/03/25	-647.65	-825.71	
07/02/25	-626.83	-795.68	
08/01/25	624.69	789.50	
08/04/25	-647.72	-818.23	
09/03/25	-647.14	-813.93	
10/02/25	-606.66	-759.68	
11/03/25	140,345.63	174,925.23	
11/04/25	-607.12	-756.59	
11/05/25	16,103.37	20,065.00	
11/22/29	TOTALS:	8,321.71	-3,052.23	

ISSUE DATE:	11/22/24	
REBATABLE ARBITRAGE:	
-3,052.23	
COMP DATE:	11/22/29	NET INCOME:	8,321.71	
BOND YIELD: 5.509066%	TAX INV YIELD:	4.271733%	

	Cost of Issuance Fund		
	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(5.509066%)	
11/22/24	Beg Bal	-177,617.50	-233,074.97	
11/22/24	46,000.00	60,362.57	
11/22/24	40,000.00	52,489.19	
11/22/24	37,000.00	48,552.50	
11/22/24	30,000.00	39,366.89	
11/22/24	6,000.00	7,873.38	
11/22/24	2,250.00	2,952.52	
04/22/25	4,892.50	6,276.34	
06/09/25	5,567.73	7,092.06	
11/27/25	6,125.00	7,606.52	
11/22/29	TOTALS:	217.73	-502.99	

ISSUE DATE:	11/22/24	
REBATABLE ARBITRAGE:	
-502.99	
COMP DATE:	11/22/29	NET INCOME:	217.73	
BOND YIELD: 5.509066%	TAX INV YIELD:	1.951695%	

Rebate Computation Credit

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @

DATE	
DESCRIPTION	RECEIPTS (PAYMENTS)	BOND YIELD OF (5.509066%)	
11/22/25		-2,120.00	-2,634.78	
11/22/29	TOTALS:	-2,120.00	-2,634.78	

ISSUE DATE: 11/22/24 COMP DATE: 11/22/29 BOND YIELD: 5.509066%	
REBATABLE ARBITRAGE:	
-2,634.78	

Section VI

Section D

Section 1

Hicks Ditch
Community Development District

	Summary of Checks	

December 01, 2025 to March 31, 2026

Bank	Date	Check No.'s		Amount	

General Fund					
	12/3/25	92-99	$	17,489.96	
	12/22/25	100-102	$	19,335.56	
	12/23/25	103-104	$	5,849.05	
	1/20/26	105-108	$	50,108.32	
	1/23/26	109-110	$	4,579.93	
	1/30/26	111	$	1,200.00	
	2/5/26	112-114	$	3,430.36	
	2/20/26	115-119	$	14,444.87	
	2/27/26	120-121	$	2,998.00	
	3/6/26	122-123	$	2,595.60	
	3/11/26	124	$	870.50	
	3/23/26	125-128	$	154,194.71	
			$ 277,096.86	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	1
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/03/25 00016 10/14/25 10635	202510 320-53800-46200	*	2,548.00
LANDSCAPE MAINT OCT25
CONTOURS LANDSCAPE SOLUTION,INC.	2,548.00 000092
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00015 10/23/25 2	202510 310-51300-31301	*	100.00
AMORT SCHED S.24
DISCLOSURE SERVICES LLC	100.00 000093

12/03/25 00001	9/15/25	
	10/01/25	
	10/01/25	
	10/01/25	
	10/01/25	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
39	202510 310-51300-31700	*	5,000.00
ASSESSMENT ROLL FY26
40	202510 310-51300-34000	*	3,333.33
MANAGEMENT FEES - OCT 25
40	202510 310-51300-35200	*	100.00
WEBSITE ADMIN - OCT 25
40	202510 310-51300-35100	*	150.00
INFORMATION TECH - OCT 25
40	202510 310-51300-31300	*	416.67
DISSEMINATION - OCT 25
10/01/25 40	202510 310-51300-51000	*	.12
OFFICE SUPPLIES
10/01/25 40	202510 310-51300-42000	*	2.97
POSTAGE
10/01/25 41	202510 320-53800-12000	*	833.33
FIELD MANAGEMENT - OCT 25
GOVERNMENTAL MANAGEMENT SERVICES-CF	9,836.42 000094
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00004	9/26/25 3627571	202508 310-51300-31500	*	744.50
GENERAL COUNSEL AUG25
KUTAK ROCK LLP	744.50 000095
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00013 11/13/25 2546-1-1 202510 320-53800-43200	*	198.15
1100 WILLOW GARDEN LOOP
11/13/25 2548-1-1 202510 320-53800-43200	*	1,226.72
1990 PINE MEADOWS GOLF
CITY OF EUSTIS	1,424.87 000096
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00016 11/03/25 10707	202511 320-53800-46200	*	2,548.00
LANDSCAPE MAINT. NOV25
CONTOURS LANDSCAPE SOLUTION,INC.	2,548.00 000097
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00004 11/03/25 3653043	202509 310-51300-31500	*	146.50
GENERAL COUNSEL SEPT25
KUTAK ROCK LLP	146.50 000098
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/25 00012 11/18/25 A0241036 202511 310-51300-49000	*	141.67
DISTRICT BOARD MEETING
LAKE SUMTER STATE COLLEGE	141.67 000099
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HICD HICKS DITC	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	2
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/22/25 00016 11/25/25 10741	202511 320-53800-46200	*	6,803.43
NE POND TREE REPLACEMENT
12/02/25 10795	202512 320-53800-46200	*	2,548.00
LANDSCAPE MAINT. DEC25
CONTOURS LANDSCAPE SOLUTION,INC.	9,351.43 000100
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/22/25 00001 11/01/25 43	202511 320-53800-12000	*	833.33
FIELD MANAGEMENT NOV25
11/01/25 44	202511 310-51300-34000	*	3,333.33
MANAGEMENT FEES NOV25
11/01/25 44	202511 310-51300-35200	*	100.00
WEBSITE ADMIN NOV25
11/01/25 44	202511 310-51300-35100	*	150.00
INFO TECHNOLOGY NOV25
11/01/25 44	202511 310-51300-31300	*	416.67
DISSEMINATION AGENT NOV25
11/01/25 44	202511 310-51300-51000	*	.15
OFFICIE SUPPLIES NOV25
11/01/25 44	202511 310-51300-42000	*	51.88
POSTAGE NOV25
12/01/25 45	202512 320-53800-43200	*	833.33
FIELD MANAGEMENT DEC25
12/01/25 46	202512 310-51300-34000	*	3,333.33
MANAGEMENT FEES DEC25
12/01/25 46	202512 310-51300-35200	*	100.00
WEBSITE ADMIN DEC25
12/01/25 46	202512 310-51300-35100	*	150.00
INFO TECHNOLOGY DEC25
12/01/25 46	202512 310-51300-31300	*	416.67
DISSEMINATION AGENT DEC25
GOVERNMENTAL MANAGEMENT SERVICES-CF	9,718.69 000101
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/22/25 00017 12/22/25 12222025 202512 300-20700-10000	*	265.44
TXFER TAAC RECEIPTS S2023
HICKS DTICH CDD C/O USBANK	265.44 000102
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00013 12/12/25 2546-1-1 202511 320-53800-43200	*	48.54
1100 WILLOW GARDEN NOV25
12/12/25 2548-1-1 202511 320-53800-43200	*	409.18
1990 PINE MEADOWS NOV25
CITY OF EUSTIS	457.72 000103
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/23/25 00017 12/23/25 122325-S 202512 300-20700-10000	*	5,391.33 TXFER TAX RCPTS S24
HICKS DTICH CDD C/O USBANK	5,391.33 000104
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HICD HICKS DITC	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	3
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
1/20/26 00016	1/06/26 10881	202601 320-53800-46200	*	2,548.00
LANDSCAPE MAINT. JAN26
CONTOURS LANDSCAPE SOLUTION,INC.	2,548.00 000105
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/20/26 00010 12/31/25 00075074 202512 310-51300-48000	*	364.47
NOTICE OF SEPCIAL MEET
GANNETT MEDIA CORP DBA GANNETT	364.47 000106
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/20/26 00017	1/15/26 011626-S 202601 300-20700-10000	*	46,795.85 TXFER TAX RECEIPTS S24
HICKS DTICH CDD C/O USBANK	46,795.85 000107
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/20/26 00018	1/02/26 PSI23346 202601 320-53800-47100	*	400.00
LAKE MAINTENANCE JAN26
SOLITUDE LAKE MANAGEMENT	400.00 000108
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/23/26 00013	1/13/26 2546-1-1 202512 320-53800-43200	*	53.55
1100 WILLOW GARDEN LOOP
1/13/26 2548-1-1 202512 320-53800-43200	*	280.13
1990 PINE MEADOWS GC
CITY OF EUSTIS	333.68 000109
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/23/26 00019 12/24/25 8015403	202512 310-51300-32300	*	4,246.25
SERIES 2024 TRUSTEE FEES
US BANK	4,246.25 000110
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/30/26 00018 11/02/25 PSI21977 202511 320-53800-47100	*	400.00
LAKE MAINTENANCE NOV25
12/01/25 PSI22660 202512 320-53800-47100	*	400.00
LAKE MAINTENANCE DEC25
12/05/25 PSI22667 202510 320-53800-47100	*	400.00

- - - - - - - - 2/05/26 00010	SOLITUDE LAKE MANAGEMENT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/16/25 11738059 202510 310-51300-48000	-	-	-	-	- -
*	-	-	-	-	-	- - - - -	1,200.00
- - - - -	000111
- - -	
	10/16/25 11738059 202510 310-51300-48000					*						5.39			
	FINANCE CHARGE														
	GANNETT MEDIA CORP DBA GANNETT												369.86	000112	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	- -	-	-	-	-	-	- - - - -	- - - - -	- - -	
2/05/26 00004	11/28/25 3658917	202510 310-51300-31500					*						1,912.50			
	GENERAL COUNSEL OCT25														
	12/22/25 3674932	202511 310-51300-31500					*						351.50			
	GENERAL COUNSEL NOV25														
	1/29/26 3690640	202512 310-51300-31500					*						396.50			
	GENERAL COUNSEL DEC25														

LAKE MAINTENANCE OCT25

NOT OF LANDOWNER MEETING

364.47

KUTAK ROCK LLP	2,660.50 000113
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
HICD HICKS DITC	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	4
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
2/05/26 00018	2/02/26 PSI23985 202602 320-53800-47100	*	400.00
LAKE MAINTENANCE FEB26
SOLITUDE LAKE MANAGEMENT	400.00 000114
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00013	2/10/26 2546-01. 202601 320-53800-43200	*	42.50
1100 WILLOW GARDEN JAN26
2/10/26 2548-01. 202601 320-53800-43200	*	174.75
1990 PINE MEADOWS JAN26
CITY OF EUSTIS	217.25 000115
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00016	2/11/26 10950	202602 320-53800-48000	*	2,880.70
MILLING RETENTION REPAIR
2/11/26 10951	202602 320-53800-48000	*	1,012.00
WASH OUT REPAIR
2/11/26 10952	202602 320-53800-46200	*	544.54
SOD INSTALLATION
CONTOURS LANDSCAPE SOLUTION,INC.	4,437.24 000116
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 99999	2/20/26 VOID	202602 000-00000-00000	C	.00 VOID CHECK
******INVALID VENDOR NUMBER******	.00 000117

2/20/26 00001	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	2/01/26	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
48	202601 320-53800-12000	*	833.33

	*	3,333.33	
	*	100.00	
	*	150.00	
	*	416.67	
	*	.21	
	*	5.20	
		*	833.33	

FIELD MANAGEMENT JAN26
49	202601 310-51300-34000
MANAGEMENT FEE JAN26
49	202601 310-51300-35200
WEBSITE ADMIN JAN26
49	202601 310-51300-35100
INFO TECNOLOGY JAN26
49	202601 310-51300-31300
DISSEMINATION AGENT JAN26
49	202601 310-51300-51000
OFFICE SUPPLIES
49	202601 310-51300-42000
POSTAGE
50	202602 320-53800-12000
FIELD MANAGEMENT FEB26
2/01/26 51	202602 310-51300-34000	*	3,333.33
MANAGEMENT FEES FEB26
2/01/26 51	202602 310-51300-35200	*	100.00
WEBSITE ADMIN FEB26
2/01/26 51	202602 310-51300-35100	*	150.00
INFO TECHNOLOGY FEB26
2/01/26 51	202602 310-51300-31300	*	416.67
DISEMINATION AGENT FEB26
HICD HICKS DITC	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	5
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
2/01/26 51	202602 310-51300-51000	*	.30

202602	310-51300-42000	*	7.43	
202602	310-51300-42500	*	2.25	

OFFICE SUPPLIES 2/01/26 51
POSTAGE 2/01/26 51
COPIES
GOVERNMENTAL MANAGEMENT SERVICES-CF	9,682.05 000118
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/20/26 00012	1/28/26 A0249238 202601 310-51300-49000	*	108.33
FACILITY RENTAL
LAKE SUMTER STATE COLLEGE	108.33 000119
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/27/26 00020	2/24/26 7955-02- 202602 310-51300-31200	*	450.00
CAPTIAL IMPROVE. BOND S24
AMTEC	450.00 000120
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
2/27/26 00016	2/02/26 10995	202602 320-53800-46200	*	2,548.00
LANDSCAPE MAINT. FEB26
CONTOURS LANDSCAPE SOLUTION,INC.	2,548.00 000121
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/06/26 00021	3/02/26 146455	202603 320-53800-46200	*	2,195.60
MAPLE TREE REPLACEMENT
CHERRYLAKE MAINTENANCE GROUP	2,195.60 000122
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/06/26 00018	3/02/26 PSI24662 202603 320-53800-47100	*	400.00
POND MAINTENANCE MAR26
SOLITUDE LAKE MANAGEMENT	400.00 000123
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/11/26 00004	2/27/26 3704613	202601 310-51300-31500	*	870.50
GENERAL COUNSEL JAN26
KUTAK ROCK LLP	870.50 000124
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
3/23/26 00013	3/12/26 2546-02. 202602 320-53800-43200	*	28.05
1100 WILLOW GARDEN FEB26
CITY OF EUSTIS	28.05 000125

3/23/26	00016	3/12/26	
- - - - - - - - - - -
3/23/26 00001	3/01/26	
		3/01/26	
		3/01/26	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11079	202603 320-53800-46200	*	2,548.00
LANDSCAPE MAINT. MAR26
CONTOURS LANDSCAPE SOLUTION,INC.	2,548.00 000126
-	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
52	202603 320-53800-12000	*	833.33
FIELD MANAGEMENT MAR26
53	202603 310-51300-34000	*	3,333.33
MANAGEMENT FEES MAR26
53	202603 310-51300-35200	*	100.00
WEBSITE ADMIN MAR26
HICD HICKS DITC	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	4/17/26	PAGE	6
*** CHECK DATES 12/01/2025 - 03/31/2026 ***	HICKS DITCH GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#

	3/01/26 53	202603 310-51300-35100	*					150.00		
	INFO TECHNOLOGY MAR26
3/01/26 53	202603 310-51300-31300	*					416.67		
	DISSEMINATION AGENT MAR26								
	3/01/26 53	202603 310-51300-51000	*					.18		
	OFFICE SUPPLIES								
	3/01/26 53	202603 310-51300-42000	*					20.75		
	POSTAGE								
	GOVERNMENTAL MANAGEMENT SERVICES-CF						4,854.26	000127	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- -	-	-	-	-	- - - - - - - - - - -	- - -	
3/23/26 00017	3/19/26 032026-S 202603 300-20700-10000	*					146,764.40		
	TXFER TAX RCPTS S2024								
	HICKS DTICH CDD C/O USBANK						146,764.40	000128	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- -	-	-	-	-	- - - - - - - - - - -	- - -	
	TOTAL FOR BANK A						277,096.86		
	TOTAL FOR REGISTER						277,096.86		

HICD HICKS DITC	IARAUJO

Section 2

Hicks Ditch
Community Development District

Unaudited Financial Reporting
March 31, 2026

Table of Contents

1		Balance Sheet	

2	
	General Fund	

3	
	Debt Service Fund - Series 2024	

4	
	Capital Projects Fund	

5-6	
	Month to Month	

7	
	Long Term Debt Schedule	

8	
	Assessment Receipt Schedule	

Community Development District Combined Balance Sheet
March 31, 2026

	General		Debt Service	Capital Projects		Totals	
	Fund		Fund		Fund	Governmental Funds	
Assets:
Operating Account	

$	

86,105	

$	

-	

$	

-	

$	

86,105	
Investments:									
Series 2024									
Reserve	$	-	$	177,126	$	-	$	177,126	
Revenue	$	-	$	359,961	$	-	$	359,961	
Prepayment	$	-	$	3,213	$	-	$	3,213	
Construction	$	-	$	-	$	22,014	$	22,014	
Total Assets	$	86,105	$	540,301	$	22,014	$	648,420	
Liabilities:									
Accounts Payable	$	1,432	$	-	$	-	$	1,432	
Total Liabilites	$	1,432	$	-	$	-	$	1,432	

Fund Balance:
Restricted For:
Debt Service - Series 2024	

$	

-	

$	

540,301	

$	

-	

$	

540,301	
Capital Projects - Series 2024	$	-	$	-	$	22,014	$	22,014	
Unassigned	$	84,674	$	-	$	-	$	84,674	
Total Fund Balances	$	84,674	$	540,301	$	22,014	$	646,989	
									
Total Liabilities & Fund Balance	$	86,105	$	540,301	$	22,014	$	648,420	

Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending March 31, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 03/31/26	Thru 03/31/26	Variance	

Revenues:		
Assessments - On Roll	$	63,630	$	63,630	$	63,685	$	55	
Assessments - Direct	$	63,523	$	27,658	$	27,658	$	-	
Assessments - Lot Closings	$	-	$	-	$	26,645	$	26,645	
Developer Contributions	$	141,805	$	29,860	$	29,860	$	-	
Interest	$	-	$	-	$	840	$	840	
Total Revenues	$	268,958	$	121,148	$	148,688	$	27,540	

Expenditures:					
General & Administrative:					
Supervisors Fees	$	2,400	$	1,200	$	400	$	800	
FICA Expense	$	184	$	92	$	31	$	61	
Engineering	$	10,000	$	5,000	$	-	$	5,000	
Attorney	$	15,000	$	7,500	$	4,747	$	2,754	
Annual Audit	$	3,400	$	-	$	-	$	-	
Assessment Administration	$	5,000	$	5,000	$	5,000	$	-	
Arbitrage	$	450	$	450	$	450	$	-	
Dissemination	$	5,000	$	2,500	$	2,500	$	(0)	
Trustee Fees	$	4,620	$	4,620	$	4,246	$	374	
Management Fees	$	40,000	$	20,000	$	20,000	$	0	
Information Technology	$	1,800	$	900	$	900	$	-	
Website Maintenance	$	1,200	$	600	$	600	$	-	
Telephone	$	100	$	50	$	-	$	50	
Postage & Delivery	$	200	$	100	$	88	$	12	
Insurance	$	7,201	$	7,201	$	5,512	$	1,689	
Printing & Binding	$	250	$	125	$	2	$	123	
Legal Advertising	$	5,000	$	2,500	$	734	$	1,766	
Contingency	$	2,500	$	1,250	$	600	$	650	
Office Supplies	$	250	$	125	$	1	$	124	
Travel Per Diem	$	200	$	100	$	-	$	100	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative:	$	104,930	$	59,488	$	45,986	$	13,502	

Operation and Maintenance					
Field Expenditures
Property Insurance	

$	4,500	

$	-	

$	-	

$	-	
Field Management	$	10,000	$	5,000	$	5,000	$	0	
Landscape Maintenance	$	63,425	$	31,713	$	15,288	$	16,425	
Landscape Contingency	$	5,500	$	5,500	$	9,760	$	(4,260)	
Lake Maintenance	$	6,843	$	3,422	$	2,400	$	1,022	
Streetlights	$	27,760	$	13,880	$	-	$	13,880	
Water & Sewer	$	30,000	$	15,000	$	2,462	$	12,538	
Irrigation Repairs	$	3,500	$	1,750	$	-	$	1,750	
General Field Repairs & Maintenance	$	10,000	$	5,000	$	3,893	$	1,107	
Contingency	$	2,500	$	1,250	$	-	$	1,250	
Total O&M Expenditures:	$	164,028	$	82,514	$	38,802	$	43,712	
					
Total Expenditures	$	268,958	$	142,002	$	84,788	$	57,214	
					
Excess Revenues (Expenditures)	$	0		$	63,900		
					
Fund Balance - Beginning	$	-		$	20,773		
					
Fund Balance - Ending	$	0		$	84,674		

For The Period Ending March 31, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 03/31/26	Thru 03/31/26	Variance	

Revenues:		
Assessments	$	359,188	$	199,217	$	199,217	$	-	
Assessments - Prepayment	$	-	$	-	$	155,630	$	155,630	
Interest	$	2,000	$	2,000	$	6,713	$	4,713	
Total Revenues	$	361,188	$	201,217	$	361,559	$	160,342	

Expenditures:					
Interest Expense 11/1	$	140,346	$	140,346	$	140,346	$	-	
Special Call 11/1	$	-	$	-	$	20,000	$	(20,000)	
Principal Expense 11/1	$	75,000	$	-	$	-	$	-	
Interest Expense 5/1	$	140,346	$	-	$	-	$	-	
Total Expenditures	$	355,691	$	140,346	$	160,346	$	(20,000)	

Other Financing Sources:					
Transfer In/(Out)	$	-	$	-	$	(16,103)	$	16,103	
Total Other Financing Sources (Uses)	$	-	$	-	$	(16,103)	$	16,103	
					
Excess Revenues (Expenditures)	$	5,497		$	185,110		
					
Fund Balance - Beginning	$	175,432		$	355,191		
					
Fund Balance - Ending	$	180,929		$	540,301		

For The Period Ending March 31, 2026

Adopted	Prorated Budget	Actual	
Budget	Thru 03/31/26	Thru 03/31/26	Variance	

Revenues:

Interest	

$	

-	$	

-	$	289	

$	289	
Total Revenues	$	-	$	-	$	289	$	289	

Expenditures:

Capital Outlay-Construction	

$	

-	$	

-	$	-	

$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Other Financing Sources:

Transfer In/(Out)	

$	

-	$	

-	$	16,103	

$	(16,103)	
Total Other Financing Sources (Uses)	$	-	$	-	$	16,103	$	(16,103)	
					
Excess Revenues (Expenditures)	$	-	$	16,392		
					
Fund Balance - Beginning	$	-	$	5,622		
					
Fund Balance - Ending	$	-	$	22,014		

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Assessment - On Roll Assessment - Direct Assessments - Lot Closings Developer Contributions Interest

$	-  $
$	-  $
$	26,645  $
$	18,171  $
$	-  $

85  $
-  $
-  $
-  $
-  $

16,683  $
18,438  $
-  $
11,689  $
0  $

-  $
9,219  $
-  $
-  $
102  $

46,917  $
-  $
-  $
-  $
392  $

-  $
-  $
-  $
-  $
346  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

63,685
27,658
26,645
29,860
840

Total Revenues	$	44,816  $	85  $	46,810  $	9,321  $	47,309  $	346  $	-  $	-  $	-  $	-  $	-  $	-  $  148,688

Expenditures:

General & Administrative:

Supervisor Fees FICA Expense Engineering Attorney Annual Audit
Assessment Administration Arbitrage
Dissemination Trustee Fees Management Fees
Information Technology Website Maintenance Telephone
Postage & Delivery Insurance
Printing & Binding Legal Advertising Contingency
Office Supplies Travel Per Diem
Dues, Licenses & Subscriptions

$	-  $
$	-  $
$	-  $
$	1,913  $
$	-  $
$	5,000  $
$	-  $
$	417  $
$	-  $
$	3,333  $
$	150  $
$	100  $
$	-  $
$	3  $
$	5,512  $
$	-  $
$	370  $
$	145  $
$	0  $
$	-  $
$	175  $

-  $
-  $
-  $
352  $
-  $
-  $
-  $
417  $
-  $
3,333  $
150  $
100  $
-  $
52  $
-  $
-  $
-  $
188  $
0  $
-  $
-  $

-  $
-  $
-  $
397  $
-  $
-  $
-  $
417  $
4,246  $
3,333  $
150  $
100  $
-  $
-  $
-  $
-  $
364  $
34  $
-  $
-  $
-  $

400  $
31  $
-  $
871  $
-  $
-  $
-  $
417  $
-  $
3,333  $
150  $
100  $
-  $
5  $
-  $
-  $
-  $
153  $
0  $
-  $
-  $

-  $
-  $
-  $
1,216  $
-  $
-  $
450  $
417  $
-  $
3,333  $
150  $
100  $
-  $
7  $
-  $
2  $
-  $
39  $
0  $
-  $
-  $

-  $
-  $
-  $
-  $
-  $
-  $
-  $
417  $
-  $
3,333  $
150  $
100  $
-  $
21  $
-  $
-  $
-  $
41  $
0  $
-  $
-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

400
31
- 4,747
- 5,000
450
2,500
4,246
20,000
900
600
- 88
5,512
2
734
600
1
- 175

Total General & Administrative:	$	17,118  $	4,592  $	9,041  $	5,459  $	5,714  $	4,062  $	-  $	-  $	-  $	-  $	-  $	-  $	45,986

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Operation and Maintenance

Field:
Property Insurance Field Management Landscape Maintenance
Landscape Replacement & Enhancements Lake Maintenance
Streetlights Water & Sewer
Sidewalk & Asphalt Maintenance Irrigation Repairs
General Field Repairs & Maintenance Contingency

$	-  $
$	833  $
$	2,548  $
$	-  $
$	400  $
$	-  $
$	1,425  $
$	-  $
$	-  $
$	-  $
$	-  $

-  $
833  $
2,548  $
6,803  $
400  $
-  $
458  $
-  $
-  $
-  $
-  $

-  $
833  $
2,548  $
-  $
400  $
-  $
334  $
-  $
-  $
-  $
-  $

-  $
833  $
2,548  $
-  $
400  $
-  $
217  $
-  $
-  $
-  $
-  $

-  $
833  $
2,548  $
545  $
400  $
-  $
28  $
-  $
-  $
3,893  $
-  $

-  $
833  $
2,548  $
2,412  $
400  $
-  $
-  $
-  $
-  $
-  $
-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

- 5,000
15,288
9,760
2,400
- 2,462
-
- 3,893
-

Excess Revenues (Expenditures)	$	22,493  $	(15,549)  $	33,654  $	(137)  $	33,348  $	(9,909)  $	-  $	-  $	-  $	-  $	-  $	-  $	63,900

Total Expenditures	$	22,324  $	15,634  $	13,156  $	9,458  $	13,961  $	10,255  $	-  $	-  $	-  $	-  $	-  $	-  $	84,788

Total O&M Expenses:	$	5,206  $	11,042  $	4,115  $	3,999  $	8,247  $	6,193  $	-  $	-  $	-  $	-  $	-  $	-  $	38,802

Hicks Ditch
Community Development District Long Term Debt Report

Series 2024, Special Assessment Bonds

Interest Rates:	4.550%, 5.300%, 5.625% Maturity Date:		5/1/2055
Reserve Fund Definition	50% of Maximum Annual Debt Service Reserve Fund Requirement		$177,126
Reserve Fund Balance	$177,126

Bonds Outstanding - 11/22/24	$5,235,000
Principal Payment - 5/1/25	($45,000)
Principal Payment - 11/1/25	($20,000)	
Current Bonds Outstanding	$5,170,000	

Hicks Ditch
COMMUNITY DEVELOPMENT DISTRICT

Fiscal Year 2026		
ON ROLL ASSESSMENTS		
	Gross Assessments $	67,691.71	$	211,752.25	$	279,443.96	
	Net Assessments  $	63,630.21	$	199,047.12	$	262,677.32	
	24.22%	75.78%	100.00%	

Special Assessment Receipts

Date	
Distribution	
Gross Amount	
Discount/Penalty	
Commission	
Interest	Property Appraiser Fee	
Net Receipts	
General Fund	2024 Debt Service	
Total	

11/28/25	
11/01-11/15/25	
$372.34	
($14.89)	
($7.15)	
$0.00	
$0.00	
$350.30	
$84.86	
$265.44	
$350.30	
12/19/25	11/16/25-11/21/25	$5,998.65	($235.15)	($119.97)	$0.00	$0.00	$5,643.53	$1,367.07	$4,276.46	$5,643.53	
12/19/25	11/16/25-11/21/25	$1,563.82	($61.29)	($31.26)	$0.00	$0.00	$1,471.27	$356.40	$1,114.87	$1,471.27	
12/31/25	11/22/25-11/30/25	$51,138.49	($2,004.65)	($1,022.78)	$0.00	$0.00	$48,111.06	$11,654.29	$36,456.77	$48,111.06	
12/31/25	11/22/25-11/30/25	$14,502.58	($568.28)	($290.08)	$0.00	$0.00	$13,644.22	$3,305.14	$10,339.08	$13,644.22	
02/02/26	12/01/25-12/15/25	$148,430.68	$0.00	($2,968.62)	$0.00	$0.00	$145,462.06	$35,236.32	$110,225.74	$145,462.06	
02/02/26	12/01/25-12/15/25	$49,203.18	$0.00	($984.06)	$0.00	$0.00	$48,219.12	$11,680.46	$36,538.66	$48,219.12	
	TOTAL	$	271,209.74	$	(2,884.26)	$	(5,423.92)	$	-	$	-	$	262,901.56	$	63,684.54	$	199,217.02	$	262,901.56	

100%
0

Net Percent Collected Balance Remaining to Collect

DIRECT BILL ASSESSMENTS

TLC Pine Meadows LLC 2026-01		
Net Assessments	
$	36,876.96	
Date
Received	Due
Date	Check
Number	Net
Assessed	Amount
Received	General
Fund	

12/17/25	
11/1/25	
3961	
$18,438.48	
$18,438.48	
$18,438.48	
1/29/26	2/1/26	3971	$9,219.24	$9,219.24	$9,219.24	
	5/1/26		$9,219.24		$9,219.24	
			$	36,876.96	$	27,657.72	$	36,876.96