Hillcrest
Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
O&M Assessments	133,720	
Debt Assessments	662,543	
Interest Income	1,200	
		
TOTAL REVENUES	$	797,463	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering/Inspections	3,000	
Management	39,972	
Legal	13,000	
Assessment Roll	5,000	
Audit Fees	3,600	
Arbitrage Rebate Fee	650	
Insurance	8,700	
Legal Advertisements	2,000	
Miscellaneous	700	
Postage	300	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fees	3,800	
Continuing Disclosure Fee	500	
Stormwater System Maintenance	15,000	
Miscellaneous Lake Maintenance	13,000	
Perimeter Wall	5,600	
Stormwater 20-Year Analysis Report	3,000	
Maintenance Contingency	3,000	
	.	
TOTAL EXPENDITURES	$	126,897	
		
REVENUES LESS EXPENDITURES	$	670,566	
		
Bond Payments	(622,790)	
		
BALANCE	$	47,776	
		
County Appraiser & Tax Collector Fee	(15,924)	
Discounts For Early Payments	(31,852)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

I

DETAILED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O&M Assessments	135,262	133,730	133,720	Expenditures/.94	
Debt Assessments	662,544	662,543	662,543	Bond Payments/.94	
Interest Income	14,034	600	1,200	Interest Projected At $100 Per Month	
					
TOTAL REVENUES	$	811,840	$	796,873	$	797,463		
					
EXPENDITURES					
Supervisor Fees	0	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	0	400	400	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	3,000	3,000	No Change From 2024/2025 Budget	
Management	37,728	38,856	39,972	CPI Adjustment	
Legal	2,753	14,000	13,000	$1,000 Decrease From 2024/2025 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2024/2025 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2024/2025 Budget	
Insurance	7,222	7,700	8,700	Insurance Estimate	
Legal Advertisements	643	2,500	2,000	$500 Decrease From 2024/2025 Budget	
Miscellaneous	29	800	700	$100 Decrease From 2024/2025 Budget	
Postage	134	300	300	No Change From 2024/2025 Budget	
Office Supplies	189	525	500	$25 Decrease From 2024/2025 Budget	
Dues & Subscriptions	175	175	175	No Change From 2024/2025 Budget	
Trustee Fees	3,709	3,800	3,800	No Change From 2024/2025 Budget	
Continuing Disclosure Fee	500	500	500	No Change From 2024/2025 Budget	
Stormwater System Maintenance	14,311	15,000	15,000	No Change From 2024/2025 Budget	
Miscellaneous Lake Maintenance	0	13,000	13,000	No Change From 2024/2025 Budget	
Perimeter Wall	0	5,600	5,600	No Change From 2024/2025 Budget	
Stormwater 20-Year Analysis Report	0	3,000	3,000	Fourth Of Five Years - Total Cost = $15,000	
Maintenance Contingency	925	3,000	3,000	Maintenance Contingency	
		.	.		
TOTAL EXPENDITURES	$	77,368	$	126,306	$	126,897		
					
REVENUES LESS EXPENDITURES	$	734,472	$	670,567	$	670,566		
					
Bond Payments	(635,524)	(622,790)	(622,790)	2026 Principal & Interest Payments	
					
BALANCE	$	98,948	$	47,777	$	47,776		
					
County Appraiser & Tax Collector Fee	(2,133)	(15,925)	(15,924)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(30,348)	(31,852)	(31,852)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	66,467	$	-	$	-		
					
Carryover From Prior Year	0	0	0		
					
NET EXCESS/ (SHORTFALL)	$	66,467	$	-	$	-		

II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	

FISCAL YEAR

2023/2024

ACTUAL	

FISCAL YEAR

2024/2025

BUDGET	

FISCAL YEAR

2025/2026

BUDGET	

COMMENTS	

Interest Income	
40,740	
400	
1,000	
Projected Interest For 2025/2026	

NAV Tax Collection	
635,524	
622,790	
622,790	
Maximum Debt Service Collection	

Total Revenues	
$	676,264	
$	623,190	
$	623,790		

EXPENDITURES					

Principal Payments	
195,000	
210,000	
220,000	
Principal Payment Due In 2026	

Interest Payments	
422,309	
406,575	
402,375	
Interest Payments Due In 2026	

Bond Redemption	
0	
6,615	
1,415	
Estimated Excess Debt Collections	

Total Expenditures	
$	617,309	
$	623,190	
$	623,790		

Excess/ (Shortfall)	

$	58,955	

$	-	

$	-		

Series 2018 Bond Information

Original Par Amount =	$9,805,000	November 1st	
Interest Rate =	3.625% - 5.000%	May 1st & November 1st	
Issue Date =	January 2018		
Maturity Date =

Par Amount As Of 1/1/25 =	November 2048

$8,695,000		

III

HILLCREST COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2022/2023
	Assessment*		Fiscal Year 2023/2024
	Assessment*		Fiscal Year 2024/2025
	Assessment*		Fiscal Year 2025/2026
  Projected Assessment* 	

O & M For Single Familys	
$	207.90	
$	207.60	
$	207.34	
$	207.33	
Debt For Single Familys	 $	1,146.80	$	1,146.80	$	1,146.80	$	1,146.80	
Total For Single Family	$	1,354.70	$	1,354.40	$	1,354.14	$	1,354.13	
O & M For Townhomes	$	207.90	$	207.60	$	207.34	$	207.33	
Debt For Townhomes	 $	938.29	$	938.29	$	938.29	$	938.29	
Total For Townhomes	$	1,146.19	$	1,145.89	$	1,145.63	$	1,145.62	

* Assessments Include the Following:
4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Single Familys:	275 Units Townhomes:	 370 Units
Total:	645 Units

IV