Turtle Run
Community Development District

Unaudited Financial Reporting
July 31, 2024

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2017	

5	
	Capital Project Reserve Fund	

6-7	
	Month to Month	

8	
	Long Term Debt Report	

9	
	Assessment Receipt Schedule	

	Balance Sheet July 31, 2024		
	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Operating Account	

$	71,867	

$	-	

$	11,670	

$	83,537	
Due from General Fund	-	14,987	-	14,987	
Investments:
State Board of Administration - Operating Reserves	

53,224	

-	

-	

53,224	
State Board of Administration - Emergency Reserves	5,451	-	-	5,451	
State Board of Administration - Capital Reserves	-	-	7,643	7,643	
Bank United - Operating Reserves	1,379,613	-	-	1,379,613	
Bank United - Emergency Reserves	535,164	-	-	535,164	
Bank United - Capital Reserves	-	-	485,308	485,308	
Series 2017-1 Reserve	

-	

101,442	

-	

101,442	
Revenue	-	118,866	-	118,866	
Interest	-	92	-	92	
Principal	-	161	-	161	
Prepayment	-	3,451	-	3,451	
Series 2017-2 Reserve	

-	

142,127	

-	

142,127	
Revenue	-	168,709	-	168,709	
Interest	-	166	-	166	
Sinking	-	161	-	161	
Deposits	840	-	-	840	
Total Assets	$	2,046,159	$	550,161	$	504,620	$	3,100,941	

Liabilities:					
Accounts Payable	$	30,845	$	-	$	22,471	$	53,316	
Due to Debt Service	14,987	-	-	14,987	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	59,332	$	-	$	22,471	$	81,803	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service	-	550,161	-	550,161	
Capital Project Reserve Fund	-	-	482,150	482,150	
Emergency Fund	540,615	-	-	540,615	
Unassigned	1,445,371	-	-	1,445,371	
Total Fund Balances	$	1,986,826	$	550,161	$	482,150	$	3,019,138	
					
Total Liabilities & Fund Balance	$	2,046,159	$	550,161	$	504,620	$	3,100,941	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/24	Thru 07/31/24	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,291,991	$	19,329	
Interest Income	25,500	21,250	82,990	61,740	
Insurance Proceeds	-	-	13,050	13,050	
Other Income	-	-	10	10	
Total Revenues	$	1,298,162	$	1,293,912	$	1,388,040	$	94,128	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	20,000	$	10,800	$	9,200	
FICA Taxes	1,836	1,530	826	704	
Assessment Roll	-	-	2,000	(2,000)	
Attorney	54,000	45,000	60,063	(15,063)	
Attorney - Special Counsel	20,000	16,667	10,709	5,958	
Annual Audit	4,400	3,667	4,400	(733)	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	66,862	55,718	55,718	0	
Information Technology	1,000	833	833	0	
Website Maintenance	1,000	833	833	0	
Postage & Delivery	750	625	549	76	
Insurance General Liability	12,547	12,547	11,805	742	
Printing & Binding	2,000	1,667	988	679	
Rental & Leases	4,800	4,000	4,000	-	
Meeting Room	4,800	4,000	585	3,415	
Legal Advertising	1,000	833	1,141	(308)	
Other Current Charges	1,000	833	851	(17)	
Office Supplies	250	208	4	204	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	4,500	3,750	1,692	2,058	
Total General & Administrative	$	212,520	$	180,487	$	175,572	$	4,915	

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/24	Thru 07/31/24	Variance	

Operations & Maintenance		
Special Pay	$	1,000	$	1,000	$	1,500	$	(500)	
Field Management	51,500	42,917	42,917	(0)	
Video Monitoring	3,000	2,500	2,264	236	
Internet/Data	3,000	2,500	1,192	1,308	
Electric	110,000	91,667	88,415	3,252	
Water	9,000	7,500	7,920	(420)	
Insurance	53,412	53,412	48,272	5,140	
Weed Control	31,782	26,485	26,051	434	
Culvert Inspection	15,000	12,500	13,000	(500)	
Holiday Lighting/Decorations	71,406	71,406	76,599	(5,193)	
Iguana Removal	7,500	6,250	5,625	625	
Landscape Maintenance	346,227	288,523	288,523	(1)	
Pest Control/Fertilization	48,300	40,250	40,625	(375)	
Landscape Replacement	64,519	53,766	87,137	(33,371)	
Annual Tree Trimming	39,000	32,500	-	32,500	
Fountain Maintenance	3,420	2,850	3,247	(397)	
Fountain Repairs	7,500	6,250	3,253	2,997	
Irrigation Repairs/Maintenance	23,000	19,167	32,502	(13,336)	
Pressure Cleaning	37,070	30,892	25,635	5,257	
Contingencies	18,096	15,080	28,977	(13,897)	
Paver Repairs	10,000	8,333	3,500	4,833	
Lighting/Electrical Repairs	20,000	16,667	30,833	(14,166)	
RPM Replacements	4,500	3,750	-	3,750	
Rust Preventative TR Park	4,410	3,675	3,399	276	
Flags	3,000	2,500	2,670	(170)	
Capital Projects Transfer Out	100,000	100,000	100,000	-	
Total Operations & Maintenance	$	1,085,642	$	942,338	$	964,056	$	(21,718)	

Total Expenditures	$	1,298,162	$	1,122,825	$	1,139,628	$	(16,803)	
									
Excess (Deficiency) of Revenues over Expenditures	$	-	$	171,087	$	248,412	$	77,325	

Fund Balance - Ending	$	1,986,826

Fund Balance - Beginning	$	1,738,414

Community Development District Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended July 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/24	Thru 07/31/24	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	451,706	$	6,083	
Interest Income	-	-	26,541	26,541	
Total Revenues	$	445,623	$	445,623	$478,247	$	32,624	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	48,529	

$	48,529	

$	48,529	

$	-	
Interest - 5/1	48,529	48,529	48,529	-	
Principal - 5/1	85,000	85,000	85,000	-	
Series 2017-2
Interest - 11/1	

87,975	

87,975	

87,975	

-	
Interest - 5/1	87,975	87,975	87,975	-	
Principal - 5/1	85,000	85,000	85,000	-	
Total Expenditures	$	443,009	$	443,009	$	443,009	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,614	$	2,614	$	35,238	$	32,624	
					
Fund Balance - Beginning			$	514,924		
					
Fund Balance - Ending			$	550,161		

Community Development District Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended July 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/24	Thru 07/31/24	Variance	

Revenues		

Interest	
$	500	
$	417	
$	22,723	
$	22,306	
Total Revenues	$	500	$	417	$	22,723	$	22,306	

Expenditures:					
Bank Service Charges	$	-	$	-	$	534	$	(534)	
Engineering Fees	-	-	53,660	(53,660)	
Brightview - Landscape Improvements at Monuments	-	-	18,925	(18,925)	
Retaining Wall	-	-	17,650	(17,650)	
Cypress Pointe Flagpole Improvements	-	-	19,000	(19,000)	
Resurface/Retile Fountain	-	-	19,450	(19,450)	
Fountain Repairs	-	-	10,265	(10,265)	
Fountain Equipment Replacement	-	-	27,883	(27,883)	
Signs	-	-	11,501	(11,501)	
Other Maintenance	-	-	10,102	(10,102)	
Turtle Run Park Contribution	-	-	65,000	(65,000)	
Total Expenditures	$	-	$	-	$	262,314	$	(262,314)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	417	$	(239,591)	$	(240,008)	

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	100,000	$	100,000	$	100,000	$	-	
Total Other Financing Sources (Uses)	$	100,000	$	100,000	$	100,000	$	-	
					
Net Change in Fund Balance	$	100,500	$	100,417	$	(139,591)	$	(240,008)	
					
Fund Balance - Beginning			$	621,741		
					
Fund Balance - Ending			$	482,150		

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

Revenues:																
Special Assessments - Tax Roll	$	-	$ 134,004	$ 1,074,616	$	9,681	$	15,645  $	13,877  $	23,185	$	3,913	$	3,758  $	13,311	$	-	$	-	$ 1,291,991	
Interest Income	7,282	6,617	6,823	8,263		9,283	9,675	9,072	8,900		8,676	8,399	-	-	82,990	
Insurance Proceeds	-	-	-	13,050		-	-	-	-		-	-	-	-	13,050	
Other Income	-	-	-	-		-	10	-	-		-	-	-	-	10	
Total Revenues	$	7,282	$ 140,621	$ 1,081,439	$	30,993  $	24,928  $	23,562  $	32,258	$	12,813  $	12,435  $	21,710	$	-	$	-	$ 1,388,040	

Expenditures:

General & Administrative:

Supervisor Fees	$	-	$	1,000	$	1,600	$	1,400	$	1,000	$	1,800	$	1,000	$	2,000	$	1,000	$	-	$	-	$	-	$  10,800	
FICA Taxes	-	77	153	77	77	138	77	153	77	-	-	-	826	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	6,078	7,148	4,978	6,750	4,373	8,965	6,160	6,380	3,850	5,383	-	-	60,063	
Attorney - Special Counsel	958	1,348	73	385	560	1,540	2,730	980	2,135	-	-	-	10,709	
Annual Audit	-	-	-	-	-	-	-	4,400	-	-	-	-	4,400	
Arbitrage Rebate	-	600	-	-	-	-	-	-	-	-	-	-	600	
Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	5,572	5,572	5,572	5,572	5,572	5,572	5,572	5,572	5,572	5,572	-	-	55,718	
Information Technology	83	83	83	83	83	83	83	83	83	83	-	-	833	
Website Maintenance	83	83	83	83	83	83	83	83	83	83	-	-	833	
Postage & Delivery	43	44	100	38	65	53	60	33	43	71	-	-	549	
Insurance General Liability	11,805	-	-	-	-	-	-	-	-	-	-	-	11,805	
Printing & Binding	248	164	118	141	51	78	75	38	75	-	-	-	988	
Rental & Leases	400	400	400	400	500	500	400	400	400	200	-	-	4,000	
Meeting Room	385	100	100	-	-	-	-	-	-	-	-	-	585	
Legal Advertising	-	142	-	184	-	-	133	232	451	-	-	-	1,141	
Other Current Charges	20	100	100	101	100	100	100	100	130	-	-	-	851	

Office Supplies	0	0	1	-	-	-	0	2	-	0	-	-	4	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-		-	-		-	-	175	

Security	231	165	225	165	165	345	-	396	-	-	-	-	1,692	
Total General & Administrative	$  35,081	$  17,024	$  13,587	$  15,379	$  12,628	$  19,257	$  16,472	$  20,853	$  13,899	$  11,392	$	-  $	-  $ 175,572	

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

Field Management	4,292	
Video Monitoring	226	
Internet/Data	-	
Electric	7,604	

Operations & Maintenance

Special Pay	$	-	$	-	$	1,500	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,500	
4,292	4,292	4,292	4,292	4,292	4,292	4,292	4,292	4,292	-	-	42,917	
226	226	226	226	226	226	226	226	226	-	-	2,264	
107	122	138	138	138	138	138	138	138	-	-	1,192	
13,387	7,877	9,357	8,978	8,556	8,783	8,110	7,989	7,774	-	-	88,415	
Water	863	887	933	887	816	851	945	933	805	-	-	-	7,920	
Insurance	48,272	-	-	-	-	-	-	-	-	-	-	-	48,272	
Weed Control	2,605	2,605	2,605	2,605	2,605	2,605	2,605	2,605	2,605	2,605	-	-	26,051	
Culvert Inspection	-	-	-	5,000	-	-	8,000	-	-	-	-	-	13,000	
Holiday Lighting/Decorations	-	37,313	38,341	945	-	-	-	-	-	-	-	-	76,599	
Iguana Removal	625	625	625	625	625	625	625	625	625	-	-	-	5,625	
Landscape Maintenance	28,852	28,852	28,852	28,852	28,852	28,852	28,852	28,852	28,852	28,852	-	-	288,523	
Pest Control/Fertilization	4,225	4,025	4,025	4,025	4,025	4,025	4,200	4,025	4,025	4,025	-	-	40,625	
Landscape Replacement	4,398	12,530	2,121	4,972	10,838	1,260	11,343	11,599	10,987	17,090	-	-	87,137	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	741	285	392	285	285	285	285	404	285	-	-	-	3,247	
Fountain Repairs	210	-	-	905	693	-	-	43	-	1,402	-	-	3,253	
Irrigation Repairs/Maintenance	3,398	2,450	3,691	5,367	1,762	4,370	1,084	3,802	4,364	2,213	-	-	32,502	
Pressure Cleaning	25,410	-	-	-	225	-	-	-	-	-	-	-	25,635	
Contingencies	4,445	1,349	-	9,362	1,760	873	9,392	289	-	1,508	-	-	28,977	
Paver Repairs	-	3,500	-	-	-	-	-	-	-	-	-	-	3,500	
Lighting/Electrical Repairs	5,230	794	620	3,071	14,654	3,612	856	740	1,256	-	-	-	30,833	
RPM Replacements	-	-	-	-	-	-	-	-	-	-	-	-	-	
Rust Preventative TR Park	368	368	368	-	368	386	386	386	579	193	-	-	3,399	
Flags	-	-	374	918	-	-	1,378	-	-	-	-	-	2,670	
Capital Projects Transfer Out	-	-	-	100,000	-	-	-	-	-	-	-	-	100,000	
Total Operations & Maintenance	$ 141,764	$ 113,594	$  96,964	$ 181,831	$  81,142	$  60,956	$  83,390	$  67,070	$  67,027	$  70,317	$	-  $	-	$ 964,056	
													
Total Expenditures	$ 176,845	$ 130,618	$ 110,551	$ 197,210	$  93,770	$  80,213	$  99,862	$  87,923	$  80,926	$  81,709	$	-  $	-	$ 1,139,628	
													
Excess (Deficiency) of Revenues over Expenditures	$ (169,563)	$  10,003	$ 970,887	$ (166,217)	$ (68,842)	$ (56,651)	$ (67,604)	$ (75,110)	$ (68,491)	$ (59,999)	$	-  $	-	$ 248,412	
													
Net Change in Fund Balance	$ (169,563)	$  10,003	$ 970,887	$ (166,217)	$ (68,842)	$ (56,651)	$ (67,604)	$ (75,110)	$ (68,491)	$ (59,999)	$	-  $	-	$ 248,412	

Turtle Run
Community Development District Long Term Debt Report	
Series 2017-1, Special Assessment Bonds	

Interest Rate:	
2.000%		
Maturity Date:	5/1/21	$80,000	
Interest Rate:	2.000%		
Maturity Date:	5/1/22	$85,000	
Interest Rate:	2.125%		
Maturity Date:	5/1/23	$85,000	
Interest Rate:	2.250%		
Maturity Date:	5/1/24	$85,000	
Interest Rate:	2.500%		
Maturity Date:	5/1/25	$90,000	
Interest Rate:	2.600%		
Maturity Date:	5/1/26	$90,000	
Interest Rate:	2.750%		
Maturity Date:	5/1/27	$95,000	
Interest Rate:	2.875%		
Maturity Date:	5/1/28	$95,000	
Interest Rate:	3.100%		
Maturity Date:	5/1/32	$420,000	
Interest Rate:	3.250%		
Maturity Date:	5/1/37	$605,000	
Interest Rate:	3.400%		
Maturity Date:	5/1/47	$1,545,000	

Bonds outstanding - 9/30/2023		
$3,025,000	
	May 1, 2024 (Mandatory)	($85,000)	
Current Bonds Outstanding		$2,940,000	

Series 2017-2, Special Assessment Bonds	

Interest Rate:	
4.000%		
Maturity Date:	5/1/28	$535,000	
Interest Rate:	5.000%		
Maturity Date:	5/1/37	$1,135,000	
Interest Rate:	5.000%		
Maturity Date:	5/1/47	$2,020,000	

Bonds outstanding - 9/30/2023		
$3,610,000	
	May 1, 2024 (Mandatory)	($85,000)	
Current Bonds Outstanding		$3,525,000	
	
Total Current Bonds Outstanding		$6,465,000	

Turtle Run
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Broward County

TOTAL ASSESSMENT LEVY (RU) 2017-1	Gross Assessments	$
ON ROLL ASSESSMENTS

589,026.13  $

197,135.21  $

786,161.34

Allocation in %	74.92%	25.08%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/23	
11/1/23-11/15/23	
$	98,363.21	
$	3,950.28	
$	944.13	
$	-	
$	93,468.80	
$	70,030.87	
$	23,437.93	
$	93,468.80	
12/08/23	11/1/23-11/30/23	552,971.91	22,118.99	5,308.54	-	525,544.38	393,760.61	131,783.77	525,544.38	
12/15/23	12/1/23-12/8/23	26,064.33	953.16	251.10	-	24,860.07	18,626.24	6,233.83	24,860.07	
12/20/23	PROP APPRAISER	-	-	778.48	-	(778.48)	(583.27)	(195.21)	(778.48)	
12/28/23	12/9/23-12/20/23	15,243.91	493.31	147.51	-	14,603.09	10,941.27	3,661.82	14,603.09	
01/12/24	12/1/23-12/31/23	12,337.12	358.81	119.77	-	11,858.54	8,884.93	2,973.61	11,858.54	
01/25/24	INTEREST	-	-	-	459.79	459.79	344.49	115.30	459.79	
02/16/24	1/1/24-1/31/24	16,598.67	341.34	162.59	-	16,094.74	12,058.88	4,035.86	16,094.74	
03/15/24	2/1/24-2/29/24	18,911.87	202.98	187.08	-	18,521.81	13,877.34	4,644.47	18,521.81	
04/12/24	3/1/24-3/31/24	23,147.08	31.49	231.16	-	22,884.43	17,146.01	5,738.42	22,884.43	
04/25/24	INTEREST	-	-	-	755.90	755.90	566.35	189.55	755.90	
05/10/24	4/1/24-4/30/24	5,179.92	-	52.75	95.32	5,222.49	3,912.92	1,309.57	5,222.49	
06/14/24	5/1/24-5/31/24	$4,919.15	$0.00	$50.67	147.58	5,016.06	3,758.25	1,257.81	5,016.06	
07/12/24	6/1/24-6/30/24	$12,422.77	$0.00	$127.95	372.68	12,667.50	9,491.04	3,176.46	12,667.50	
07/25/24	INTEREST	$0.00	$0.00	$0.00	155.01	155.01	116.14	38.87	155.01	
	TOTAL	$	786,159.94	$	28,450.36	$	8,361.73	$	1,986.28	$	751,334.13	$	562,932.07	$	188,402.06	$	751,334.13	

$

100.00%
1.40

Percent Collected Balance Remaining to Collect

TOTAL ASSESSMENT LEVY (RT) 2017-2	Gross Assessments	$
ON ROLL ASSESSMENTS

277,511.06  $

102,241.55  $

379,752.61

Allocation in %	73.08%	26.92%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

12/08/23	
11/1/23-11/30/23	
$	379,752.61	
$	15,190.11	
$	3,645.63	
$	-	
$	360,916.87	
$	263,746.50	
$	97,170.37	
$	360,916.87	
12/20/23	PROP APPRAISER	-	-	376.04	-	(376.04)	(274.80)	(101.24)	(376.04)	
01/25/24	INTEREST	-	-	-	222.02	222.02	162.25	59.77	222.02	
	TOTAL	$	379,752.61	$	15,190.11	$	4,021.67	$	222.02	$	360,762.85	$	263,633.95	$	97,128.90	$	360,762.85	

$

100.00%
-

Percent Collected Balance Remaining to Collect

TOTAL ASSESSMENT LEVY (RN) 2017-2	Gross Assessments	$
ON ROLL ASSESSMENTS

489,275.22  $

174,690.68  $

663,965.90

Allocation in %	73.69%	26.31%	100.00%
Date	Distribution	Gross Amount	Discount/(Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/23	
11/1/23-11/15/23	
$	91,345.46	
$	3,653.81	
$	876.92	
$	-	
$	86,814.73	
$	63,973.61	
$	22,841.12	
$	86,814.73	
12/08/23	11/1/23-11/30/23	185,051.28	7,402.05	1,776.49	-	175,872.74	129,600.29	46,272.45	175,872.74	
12/15/23	12/1/23-12/8/23	347,915.29	13,916.61	3,339.99	-	330,658.69	243,661.77	86,996.92	330,658.69	
12/20/23	PROP APPRAISER	-	-	657.48	-	(657.48)	(484.50)	(172.98)	(657.48)	
12/28/23	12/9/23-12/20/23	22,305.29	892.22	214.13	-	21,198.94	15,621.46	5,577.48	21,198.94	
01/25/24	INTEREST	-	-	-	392.45	392.45	289.20	103.25	392.45	
02/16/24	1/1/24-1/31/24	5,015.74	100.32	49.15	-	4,866.27	3,585.95	1,280.32	4,866.27	
04/12/24	3/1/24-3/31/24	7,435.10	-	74.35	-	7,360.75	5,424.12	1,936.63	7,360.75	
04/25/24	INTEREST	-	-	-	66.09	66.09	48.70	17.39	66.09	
07/12/24	6/1/24-6/30/24	4,897.72	-	50.45	146.93	4,994.20	3,680.22	1,313.98	4,994.20	
07/25/24	INTEREST	-	-	-	32.30	32.30	23.80	8.50	32.30	
	TOTAL	$	663,965.88	$	25,965.01	$	7,038.96	$	637.77	$	631,599.68	$	465,424.62	$	166,175.06	$	631,599.68	

100.00%	Percent Collected	
$	0.02	Balance Remaining to Collect	
		
100.00%	Total Percent Collected	
$	1.42	Total Balance Remaining to Collect