Hillcrest
Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

PROPOSED BUDGET

II

DETAILED PROPOSED BUDGET

III

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

IV

ASSESSMENT COMPARISON

PROPOSED BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

I

REVENUES

FISCAL YEAR 2026/2027 BUDGET

O&M Assessments

133,712

Debt Assessments

662,543

Interest Income

1,500

TOTAL REVENUES

$	797,755

EXPENDITURES

Supervisor Fees

5,000

Payroll Taxes (Employer)

400

Engineering/Inspections

3,000

Management

41,040

Legal

12,000

Assessment Roll

5,000

Audit Fees

3,700

Arbitrage Rebate Fee

650

Insurance

8,800

Legal Advertisements

1,975

Miscellaneous

675

Postage

300

Office Supplies

500

Dues & Subscriptions

175

Trustee Fees

4,250

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

2,625

.

TOTAL EXPENDITURES

$	127,190

REVENUES LESS EXPENDITURES

$	670,565

Bond Payments

(622,790)

BALANCE

$	47,775

County Appraiser & Tax Collector Fee

(15,924)

Discounts For Early Payments

(31,851)

EXCESS/ (SHORTFALL)

$	-

Carryover From Prior Year

0

NET EXCESS/ (SHORTFALL)

$	-

DETAILED PROPOSED BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

II

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

O&M Assessments

135,432

133,720

133,712

Expenditures/.94

Debt Assessments

662,538

662,543

662,543

Bond Payments/.94

Interest Income

11,911

1,200

1,500

Interest Projected At $125 Per Month

TOTAL REVENUES

$	809,881

$	797,463

$	797,755

EXPENDITURES

Supervisor Fees

800

5,000

5,000

Supervisor Fees

Payroll Taxes (Employer)

61

400

400

Projected At 8% Of Supervisor Fees

Engineering/Inspections

4,375

3,000

3,000

No Change From 2025/2026 Budget

Management

38,856

39,972

41,040

CPI Adjustment

Legal

4,619

13,000

12,000

$1,000 Decrease From 2025/2026 Budget

Assessment Roll

5,000

5,000

5,000

As Per Contract

Audit Fees

3,500

3,600

3,700

Accepted Amount For 2025/2026 Audit

Arbitrage Rebate Fee

650

650

650

No Change From 2025/2026 Budget

Insurance

7,511

8,700

8,800

FY 25/26 Expenditure Was $8,262

Legal Advertisements

1,652

2,000

1,975

$25 Decrease From 2025/2026 Budget

Miscellaneous

232

700

675

$25 Decrease From 2025/2026 Budget

Postage

129

300

300

No Change From 2025/2026 Budget

Office Supplies

337

500

500

No Change From 2025/2026 Budget

Dues & Subscriptions

175

175

175

No Change From 2025/2026 Budget

Trustee Fees

3,709

3,800

4,250

FY 25/26 Expenditure Was $4,219

Continuing Disclosure Fee

350

500

500

No Change From 2025/2026 Budget

Stormwater System Maintenance

1,600

15,000

15,000

No Change From 2025/2026 Budget

Miscellaneous Lake Maintenance

0

13,000

13,000

No Change From 2025/2026 Budget

Perimeter Wall

0

5,600

5,600

No Change From 2025/2026 Budget

Stormwater 20-Year Analysis Report

0

3,000

3,000

Fifth Of Five Years - Total Cost = $15,000

Maintenance Contingency

0

3,000

2,625

Maintenance Contingency

.

.

TOTAL EXPENDITURES

$	73,556

$	126,897

$	127,190

REVENUES LESS EXPENDITURES

$	736,325

$	670,566

$	670,565

Bond Payments

(636,098)

(622,790)

(622,790)

2027 Principal & Interest Payments

BALANCE

$	100,227

$	47,776

$	47,775

County Appraiser & Tax Collector Fee

(1,358)

(15,924)

(15,924)

Two Percent Of Total Assessment Roll

Discounts For Early Payments

(29,646)

(31,852)

(31,851)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	69,223

$	-

$	-

Carryover From Prior Year

0

0

0

NET EXCESS/ (SHORTFALL)

$	69,223

$	-

$	-

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

Series 2018 Bond Information

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

$9,805,000 3.625% - 5.000%
January 2018
November 2048

November 1st
May 1st & November 1st

Par Amount As Of 1/1/26 =

$8,485,000

III

REVENUES

FISCAL YEAR

2024/2025

ACTUAL

FISCAL YEAR

2025/2026

BUDGET

FISCAL YEAR

2026/2027

BUDGET

COMMENTS

Interest Income

36,081

1,000

2,000

Projected Interest For 2026/2027

NAV Tax Collection

636,098

622,790

622,790

Maximum Debt Service Collection

Total Revenues

$	672,179

$	623,790

$	624,790

EXPENDITURES

Principal Payments

200,000

220,000

225,000

Principal Payment Due In 2027

Interest Payments

414,775

402,375

393,575

Interest Payments Due In 2027

Bond Redemption

0

1,415

6,215

Estimated Excess Debt Collections

Total Expenditures

$	614,775

$	623,790

$	624,790

Excess/ (Shortfall)

$	57,404

$	-

$	-

HILLCREST COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2023/2024
	Assessment*	

Fiscal Year 2024/2025
	Assessment*	

Fiscal Year 2025/2026
	Assessment*	

Fiscal Year 2026/2027
  Projected Assessment*	

O & M For Single Familys Debt For Single Familys
Total For Single Family

$

207.60

$

207.34

$

207.33

$

207.32

 $	1,146.80

 $	1,146.80

 $	1,146.80

 $	1,146.80

$

1,354.40

$

1,354.14

$

1,354.13

$

1,354.12

O & M For Townhomes Debt For Townhomes
Total For Townhomes

$

207.60

$

207.34

$

207.33

$

207.32

 $	938.29

 $	938.29

 $	938.29

$	938.29

$

1,145.89

$

1,145.63

$

1,145.62

$

1,145.61

* 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