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			

Hicks Ditch
Community Development District
General Fund Narrative

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.

Hicks Ditch
Community Development District
General Fund Narrative

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.

Hicks Ditch
Community Development District
General Fund Narrative

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