Hillcrest
Community Development District

Amended Final Budget For Fiscal Year 2024/2025

October 1, 2024

- September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Reserve Balances Include Stormwater Maintenace ($17,690), Stormwater Analysis ($6,000), Lake Maintenance ($26,000) & Perimeter Wall ($16,000) Reserves.
Reserve Balances As Of 9/30/2025 total $65,690 - Reserve Balances To Be Adjusted In October 2025.

I

$201,294

$28,618

$65,690

$164,222

OPERATING FUND BALANCE AS OF 09/30/24

FY 2024/2025 ACTIVITY

RESERVE FUNDS BALANCE AS OF 9/30/25

OPERATING FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

O & M Assessments

133,730

135,349

135,349

Debt Assessments

662,543

662,538

662,538

Other Revenues

0

0

0

Interest Income

600

11,911

11,911

Total Revenues

$	796,873

$	809,798

$	809,798

EXPENDITURES

Supervisor Fees

5,000

800

800

Payroll Taxes (Employer)

400

61

61

Engineering/Inspections

3,000

4,375

4,375

Management

38,856

38,856

38,856

Legal

14,000

7,600

4,619

Assessment Roll

5,000

5,000

5,000

Audit Fees

3,500

3,500

3,500

Arbitrage Rebate Fee

650

650

650

Insurance

7,700

7,511

7,511

Legal Advertisements

2,500

2,200

1,652

Miscellaneous

800

400

232

Postage

300

140

129

Office Supplies

525

375

337

Dues & Subscriptions

175

175

175

Trustee Fees

3,800

3,709

3,709

Continuing Disclosure Fee

500

350

350

Stormwater System Maintenance

15,000

15,000

1,600

Miscellaneous Lake Maintenance

13,000

13,000

0

Perimeter Wall

5,600

5,600

0

Stormwater 20-Year Analysis Report

3,000

3,000

0

Maintenance Contingency

3,000

1,000

0

TOTAL EXPENDITURES

$	126,306

$	113,302

$	73,556

Excess/ (Shortfall)

$	670,567

$	696,496

$	736,242

Bond Payments

(622,790)

(636,098)

(636,098)

Balance

$	47,777

$	60,398

$	100,144

County Appraiser & Tax Collector Fee

(15,925)

(2,134)

(2,134)

Discounts For Early Payments

(31,852)

(29,646)

(29,646)

Net Excess/ (Shortfall)

$	-

$	28,618

$	68,364

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Reserve Fund Balance = $341,668*. Revenue Fund Balance = $535,552*
Revenue Fund Balance To Be Used To Make 11/1/2025 Principal & Interest Payment Of $415,388 - Principal Payment Of $210,000 & Interest Payment Of $205,388.
* Approximate Amounts

Series 2018 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$9,805,000 3.625% - 5.0%
January 2018
November 2048

Annual Principal Payments Due: November 1st
Annual Interest Payments Due:
May 1st & November 1st

Par Amount As Of 9/30/25 =

$8,695,000

II

11/8/2025 4:00 PM

$877,221

$57,404

$934,625

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

Interest Income

400

36,081

36,081

NAV Assessment Collection

622,790

636,098

636,098

Total Revenues

$	623,190

$	672,179

$	672,179

EXPENDITURES

Principal Payments

210,000

200,000

200,000

Interest Payments

406,575

414,775

414,775

Bond Redemption

6,615

0

0

Total Expenditures

$	623,190

$	614,775

$	614,775

Excess/ (Shortfall)

$	-

$	57,404

$	57,404