TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
COMBINED BALANCE SHEET
November 30, 2019

 	Major Funds	

Total
Governmental
 	Funds	

Debt
 	Service	

Capital
 	Projects	

 	General	

ASSETS:
Cash
Assessments Receivable Due from Other Funds
State Board - Operating Reserves State Board - Renewal & Replacement State Board - Emergency Reserves SERIES 2017
Reserve 2017-1
Reserve 2017-2
Revenue 2017-1
Revenue 2017-2
Interest 2017-1
Interest 2017-2
Principal 2017-1
Sinking 2017-2
Construction 2017-1
Construction 2017-2 Deposits

$89,029
$786,403
$11,922
$786,477
---
$1,148,320

---
$274,810
$13,393
---
---
---

$47,487
---
---
---
$547,727
---

$136,517
$1,061,213
$25,314
$786,477
$547,727
$1,148,320

---
---
---
---
---
---
---
---
---
---
$100

$96,152
$134,715
$41,963
$39,271
$7
$13
$5
$5
---
---
---

---
---
---
---
---
---
---
---
$1,099,639
$1,401,623
---

$96,152
$134,715
$41,963
$39,271
$7
$13
$5
$5
$1,099,639
$1,401,623
$100

TOTAL ASSETS

 	$2,822,251 

$600,334

$3,096,477

$6,519,062

LIABILITIES:
Accounts Payable Due to Other Funds Due to Pension Fund
Deposits / Trash Bonds

$63,919
$13,392
$845
$13,500

---
---
---
---

---
$11,922
---
---

$63,919
$25,314
$845
$13,500

TOTAL LIABILITIES

 	$91,656 

 	$0 

 	$11,922 

 	$103,578 

FUND BALANCES:
Nonspendable:
Prepaid items and deposits Restricted for:
Debt Service Capital Projects
Committed for: Emergency Fund
Unassigned

$100

---

---

$100

---
---

$600,334
---

---
$2,497,341

$600,334
$2,497,341

$1,148,320
 	$1,582,175 

---
---

---
 	$587,215 

$1,148,320
 	$2,169,389 

TOTAL FUND BALANCES

 	$2,730,595 

 	$600,334 

 	$3,084,555 

 	$6,415,484 

TOTAL LIABILITIES & FUND BALANCES 	$2,822,251 

$600,334

$3,096,477

$6,519,062

Page 1

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND
Statement of Revenues, Expenditures, and Changes in Fund Balance For the Period Ending November 30, 2019

ADOPTED
 	BUDGET	

PRORATED BUDGET
  THRU 11/30/19 

ACTUAL
  THRU 11/30/19 

 DESCRIPTION	

 	VARIANCE	

REVENUES:
Maintenance Assessments (1)
Interest Income

$1,271,477
$1,000

$826,373
$167

$826,373
$3,709

$0
$3,543

TOTAL REVENUES

 	$1,272,477 

 	$826,540 

 	$830,083 

 	$3,543 

EXPENDITURES:

ADMINISTRATIVE:

Supervisor Fees
FICA Expense Engineering Attorney Trustee Fees Annual Audit
Management Fees Computer Time Telephone
Travel & Per Diem Postage
Printing & Binding Rentals & Leases Insurance
Legal Advertising Other Current Charges Office Supplies
Dues, Licenses & Subscriptions Website Compliance

$24,000
$1,836
$10,000
$60,000
$7,000
$4,000
$59,406
$1,000
$200
$4,000
$750
$1,600
$4,800
$9,387
$850
$625
$250
$175
$1,000

$4,000
$306
$1,667
$10,000
$7,000
$667
$9,901
$167
$33
$667
$125
$267
$800
$9,387
$142
$104
$42
$175
$167

$5,000
$383
$0
$3,951
$7,000
$500
$9,901
$167
$21
$0
$172
$277
$800
$8,747
$0
$554
$13
$175
$167

($1,000)
($77)
$1,667
$6,049
$0
$167
$0
$0
$13
$667 ($47)
($11)
$0
$640
$142 ($449)
$28
$0
$0

TOTAL ADMINISTRATIVE

 	$190,879 

 	$45,615 

 	$37,826 

 	$7,789 

Field Expenses:
Salaries and Wages Special Pay
FICA Expense Pension Expense Health Insurance
Worker's Compensation Insurance Security
Video Monitoring Travel & Per Diem Telephone Expense Internet/Data Rentals & Leases Insurance
Electric Water

$73,190
$500
$5,637
$4,421
$10,000
$3,025
$3,096
$5,100
$250
$450
$2,880
$3,600
$1,000
$90,000
$7,500

$11,260
$83
$867
$680
$1,667
$3,025
$516
$850
$42
$75
$480
$600
$167
$15,000
$1,250

$14,076
$0
$1,077
$845
$1,667
$1,339
$0
$525
$0
$75
$223
$600
$167
$13,742
$1,086

($2,816)
$83 ($210)
($164)
$0
$1,686
$516
$325
$42
$0
$257
$0
$0
$1,258
$164

Page 2

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND
Statement of Revenues, Expenditures, and Changes in Fund Balance For the Period Ending November 30, 2019

ADOPTED
 	BUDGET	

PRORATED BUDGET
  THRU 11/30/19 

ACTUAL
  THRU 11/30/19 

 DESCRIPTION	

 	VARIANCE	

Contract Services:
Weed Control Culvert Inspection Holiday Lighting

$26,736
$15,000
$75,080

$4,456
$2,500
$37,540

$4,456
$0
$34,964

$0
$2,500
$2,576

Repairs & Maintenance:
Landscape Maintenance Pest Control/Fertilization Landscape Replacement Annual Tree Trimming Fountain Contract Fountain Repairs
Pool Maintenance Irrigation Repairs Vehicle Maintenance Pressure Cleaning Trash Pick-Up Contingencies
Lighting/Electrical Repairs

$260,260
$48,300
$125,000
$31,000
$2,000
$10,500
$3,000
$17,500
$1,000
$28,500
$1,404
$18,000
$5,000

$43,377
$8,050
$20,833
$31,000
$333
$1,750
$500
$2,917
$167
$25,950
$234
$3,000
$833

$41,939
$8,050
$3,062
$30,500
$0
$1,358
$430
$0
$167
$25,950
$0
$1,716
$1,200

$1,438
$0
$17,772
$500
$333
$393
$70
$2,917
$0
$0
$234
$1,284 ($367)

Operating Supplies:
Gas/Oil
Holiday Decorations Flags

$5,000
$5,000
$2,352

$833
$833
$392

$338
$0
$0

$496
$833
$392

Capital Projects:
Capital Projects
Reserves for Emergency Funds

$90,315
$100,000

$15,052
$16,667

$11,182
$0

$3,870
$16,667

TOTAL FIELD

 	$1,081,597 

 	$253,780 

 	$200,731 

 	$53,049 

TOTAL EXPENDITURES

 	$1,272,477 

 	$299,395 

 	$238,557 

 	$60,838 

Excess (deficiency) of revenues
over (under) expenditures

 	$0 

 	$527,145 

 	$591,525 

 	$64,380 

Net change in fund balance

$0

$527,145

$591,525

$64,380

FUND BALANCE - Beginning

$0

$2,139,070

FUND BALANCE - Ending

 	$0 

$2,730,595

(1) Gross amount assessed less 6% for discount and collection fees .

Page 3

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
SERIES 2017
Statement of Revenues, Expenditures and Changes in Fund Balance For the Period Ending November 30, 2019

ADOPTED
 	BUDGET	

PRORATED BUDGET
  THRU 11/30/19 

ACTUAL
  THRU 11/30/19 

 DESCRIPTION	

 	VARIANCE	

REVENUES:

Assessments
Interest Income

$445,360
$0

$288,180
$0

$288,180
$693

$0
$693

TOTAL REVENUES

 	$445,360 

 	$288,180 

 	$288,873 

 	$693 

EXPENDITURES:

Series 2017-1
Interest - 11/01 Interest - 05/01 Principal - 05/01

$51,883
$51,883
$80,000

$51,883
$0
$0

$51,883
$0
$0

($0)
$0
$0

Series 2017-2
Interest - 11/01 Interest - 05/01 Principal - 05/01

$93,975
$93,975
$70,000

$93,975
$0
$0

$93,975
$0
$0

$0
$0
$0

TOTAL EXPENDITURES

 	$441,715 

 	$145,858 

 	$145,858 

 	($0)

Excess (deficiency) of revenues
over (under) expenditures

 	$3,645 

 	$142,323 

 	$143,015 

 	$693 

OTHER FINANCING SOURCES/(USES)

Interfund Transfer In/(Out)

$0

$0

$0

$0

TOTAL OTHER FINANCING SOURCES/(US 	$0 

 	$0 

 	$0 

 	$0 

Net change in fund balance

$3,645

$142,323

$143,015

$693

FUND BALANCE - Beginning

$225,976

$457,318

FUND BALANCE - Ending

 	$229,621 

$600,334

Page 4

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
Long Term Debt Report FY 2020

Page 5

Total Current Bonds Outstanding	$7,265,000.00

Series 2017-2, Special Assessment Bonds

Interest Rate:	4.000%
Maturity Date:	5/1/2028	$755,000.00
Interest Rate:	5.000%
Maturity Date:	5/1/2037	$1,135,000.00
Interest Rate:	5.000%
Maturity Date:		5/1/2047	$2,020,000.00 Reserve Requirement:	50% Maximum Annual Debt Service

Bonds outstanding - 9/30/2019	$3,910,000.00
May 1, 2020 (Mandatory)	$0.00

Current Bonds Outstanding	$3,910,000.00

Series 2017-1, Special Assessment Bonds

Interest Rate:	2.000%
Maturity Date:	5/1/2020	$80,000.00
Interest Rate:	2.000%
Maturity Date:	5/1/2021	$80,000.00
Interest Rate:	2.000%
Maturity Date:	5/1/2022	$85,000.00
Interest Rate:	2.125%
Maturity Date:	5/1/2023	$85,000.00
Interest Rate:	2.250%
Maturity Date:	5/1/2024	$85,000.00
Interest Rate:	2.500%
Maturity Date:	5/1/2025	$90,000.00
Interest Rate:	2.600%
Maturity Date:	5/1/2026	$90,000.00
Interest Rate:	2.750%
Maturity Date:	5/1/2027	$95,000.00
Interest Rate:	2.875%
Maturity Date:	5/1/2028	$95,000.00
Interest Rate:	3.100%
Maturity Date:	5/1/2032	$420,000.00
Interest Rate:	3.250%
Maturity Date:	5/1/2037	$605,000.00
Interest Rate:	3.400%
Maturity Date:		5/1/2047	$1,545,000.00 Reserve Requirement:	50% Maximum Annual Debt Service

Bonds outstanding - 9/30/2019	$3,355,000.00
May 1, 2020 (Mandatory)	$0.00

Current Bonds Outstanding	$3,355,000.00

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance For the Period Ending November 30, 2019

PRORATED BUDGET
    THRU 11/30/19 

ACTUAL
   THRU 11/30/19 

 DESCRIPTION	

 	BUDGET	

 	VARIANCE	

REVENUES:

Interest Income
Capital Projects Transfer In

$500
$90,315

$83
$0

$809
$0

$726
$0

TOTAL REVENUES

 	$90,815 

 	$83 

 	$809 

 	$726 

EXPENDITURES:

Bank Service Charges
Repairs and Replacements

$0
$0

$0
$0

$47
$0

($47)
$0

TOTAL EXPENDITURES

 	$0 

 	$0 

 	$47 

 	($47)

Excess (deficiency) of revenues

over (under) expenditures

 	$90,815 

 	$83 

 	$762 

 	$679 

Net change in fund balance

$90,815

$83

$762

$679

FUND BALANCE - Beginning

$596,558

$586,452

FUND BALANCE - Ending

 	$687,372 

$587,215

Page 6

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT CAPITAL PROJECTS FUND
SERIES 2017
Statement of Revenues, Expenditures and Changes in Fund Balance For the Period Ending November 30, 2019

ADOPTED
 	BUDGET	

PRORATED
THRU 11/30/19

ACTUAL
    THRU 11/30/19 

 DESCRIPTION	

     VARIANCE 

REVENUES:

Interest Income

$0

$0

$4,441

$4,441

TOTAL REVENUES

 	$0 

 	$0 

 	$4,441 

 	$4,441 

EXPENDITURES:

Capital Outlay 2017-1
Capital Outlay 2017-2

$0
$0

$0
$0

$142,711
$181,633

($142,711)
($181,633)

TOTAL EXPENDITURES

 	$0 

 	$0 

 	$324,344 

 	($324,344)

Excess (deficiency) of revenues
over (under) expenditures

 	$0 

 	$0 

 	($319,903)

 	($319,903)

OTHER SOURCES/(USES)

Interfund Transfer In/(Out)

$0

$0

$0

$0

TOTAL OTHER SOURCES/(USES)

 	$0	$0	$0	$0 

Net change in fund balance

$0

$0

($319,903)

($319,903)

FUND BALANCE - Beginning

$0

$2,817,243

FUND BALANCE - Ending

 	$0 

$2,497,341

Page 7

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
COMMUNITY PROJECTS

1. Recap of Capital Reserve Fund Activity Through November 30, 2019
Opening Balance in Capital Reserve Account

$1,752,217.27

Source of Funds:

Interest Earned
Assessment Receipt Transfers

$36,648.10
$3,333,156.24

Use of Funds:
Disbursements:

Pavers
Park Fence Curbing/Extension Roundabout Privacy Wall
FPL Access Road
Lake Bank Restorations Lighting Project Crosswalks/Park Entryway Signs
Video Surveillance Median Widening Retaining Wall Paving-Estates Paver Replacements
East Median Widening Bank Service Charges Turtle Run Blvd. Central Decorative Sign Posts Security Wall Model Passive Park
Irrigation Pumps Terrapin Lane Turnlane Post & Rail Fence

($82,619.25)
($236,900.15)
($132,731.07)
($883,349.16)
($93,154.97)
($24,870.50)
($668,643.53)
($142,054.61)
($45,388.52)
($151,879.33)
($24,945.31)
($811,248.77)
($33,923.31)
($78,488.33)
($59,562.78)
($417,053.67)
($3,198.22)
($4,120.00)
($16,680.00)
($115,404.58)
($7,437.50)
($153,011.10)
($8,552.50)
($1,650.00)

Security Wall-Forest Glen
Gate Houses
Park Drop Off Loop Newport Pathway Coach Lamps
Turtle Creek Dr. Restripping Walmart Bus Shelter Creekside Dr Re-Stripping Fountain-Lake Rachel Monument Sign-Toys R Us Split Rail Fence
Sample Road Trellis Harbor Island Wall
Irrigation System Evaluation Bond Issue/Misc Engineering
Tortoise Way ROW Improvements Child Care Center Storm Water Report Composite Site Plan
TRCDD Master Plan Permits
Entrance
Newport Sidewalk Modifications Roadway Improvements
Front Entrance Pavers-Reset

($6,750.00)
($51,422.75)
($4,302.50)
($1,892.50)
($20,285.00)
($13,330.00)
$0.00 ($15,425.00)
$0.00
$0.00
$0.00
$0.00
$0.00 ($1,860.00)
($78,021.05)
($8,595.00)
($1,822.50)
($2,162.50)
($1,337.50)
($3,010.20)
($80,373.43)
$0.00 ($13,310.00)
($24,040.00)

Adjusted Balance in Capital Reserve Account at November 30, 2019

 	$597,214.53 

2. Funds Available For Construction at November 30, 2019
Book Balance of Construction Fund at November 30, 2019

$597,214.53

Construction Funds available at November 30, 2019

 	$597,214.53 

3. Investments - SBA

November 30, 2019
Construction Fund:

Type
Overnight

Yield
2.03%

Due

Maturity
$597,214.53

Principal
$597,214.53

ADJ: Deposits in Transit 	$0.00 
ADJ: Outstanding Invoices/Retainage 		$0.00 Balance at 11/30/2019 	$597,214.53 

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
SERIES 2017-1 CONSTRUCTION

1. Recap of Capital Reserve Fund Activity Through November 30, 2019
Opening Balance in Construction Account

$0.00

Source of Funds:

Interest Earned
Bond Proceeds Interfund Transfer

$76,203.95
$3,412,257.50 ($31,331.58)

Use of Funds:
Disbursements:

Roadway Improvements
Sign Post Replacement Streetlight Improvements Entrance Feature
Post and Rail Fence
Irrigation System Improvements Sidwalk Improvements
Lake Bank Restoration Lake Buffer Restoration
Forest Glen Middle School Barrier Wall Sound Barrier Wall
Park Renovations
LA Services for Lake Access Attorney Fees
Engineering Fees-Misc. Cost of Issuance

($531,553.29)
($42,365.40)
($725,568.08)
($333,686.89)
($51,414.00)
($38,015.42)
($29,141.75)
$0.00 ($2,288.00)
($11,912.26)
($98,925.18)
($4,738.87)
($81,823.88)
($21,220.10)
($83,330.29)
($301,507.74)

Adjusted Balance in Capital Reserve Account at November 30, 2019

  $1,099,638.72 

2. Funds Available For Construction at November 30, 2019
Book Balance of Construction Fund at November 30, 2019

$1,099,638.72

3. Investments - Regions Bank

November 30, 2019
Construction Fund:

Type

Yield	Due

Maturity
$1,099,638.72

Principal
$1,099,638.72

Overnight 2.22%

ADJ: Deposits in Transit

$0.00

ADJ: Outstanding Invoices/Retainage 	$0.00 
Balance at 11/30/2019   $1,099,638.72 

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
SERIES 2017-2 CONSTRUCTION

1. Recap of Capital Reserve Fund Activity Through November 30, 2019
Opening Balance in Construction Account

$0.00

Source of Funds:

Interest Earned
Bond Proceeds Interfund Transfer

$96,786.01
$4,116,171.95 ($28,076.63)

Use of Funds:
Disbursements:

Roadway Improvements
Sign Post Replacement Streetlight Improvements Entrance Feature
Post and Rail Fence
Irrigation System Improvements Sidwalk Improvements
Lake Bank Restoration Lake Buffer Restoration
Forest Glen Middle School Barrier Wall Sound Barrier Wall
Park Renovations
LA Services for Lake Access Attorney Fees
Engineering Fees-Misc. Cost of Issuance

($625,203.81)
($53,919.60)
($923,450.27)
($478,121.89)
($65,436.00)
($49,083.26)
($37,089.50)
$0.00 ($2,912.00)
($15,161.04)
($125,904.76)
($6,031.29)
($101,328.43)
($27,043.40)
($104,056.76)
($168,515.87)

Adjusted Balance in Capital Reserve Account at November 30, 2019

  $1,401,623.45 

2. Funds Available For Construction at November 30, 2019
Book Balance of Construction Fund at November 30, 2019

$1,401,623.45

3. Investments - Regions Bank

November 30, 2019
Construction Fund:

Type

Yield	Due

Maturity
$1,401,623.45

Principal
$1,401,623.45

Overnight 2.22%

ADJ: Deposits in Transit

$0.00

ADJ: Outstanding Invoices/Retainage 	$0.00 
Balance at 11/30/2019   $1,401,623.45