Turtle Run
Community Development District

Unaudited Financial Reporting
June 30, 2025

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2017	

5	
	Capital Projects Reserve Fund	

6-7	
	Month to Month	

8	
	Long Term Debt Report	

9	
	Assessment Receipt Schedule	

	Balance Sheet June 30, 2025		
	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	104,662	

$	-	

$	36,729	

$	141,391	
Due from General Fund	-	16,098	-	16,098	
Investments:
State Board of Administration - Operating Reserves	

548,148	

-	

-	

548,148	
State Board of Administration - Emergency Reserves	5,694	-	-	5,694	
State Board of Administration - Capital Reserves	-	-	1,949	1,949	
Bank United - Operating Reserves	969,051	-	-	969,051	
Bank United - Emergency Reserves	555,780	-	-	555,780	
Bank United - Capital Reserves	-	-	401,629	401,629	
Series 2017-1 Reserve	

-	

105,790	

-	

105,790	
Revenue	-	123,634	-	123,634	
Interest	-	6	-	6	
Principal	-	12	-	12	
Prepayment	-	8,858	-	8,858	
Series 2017-2 Reserve	

-	

148,218	

-	

148,218	
Revenue	-	183,907	-	183,907	
Interest	-	10	-	10	
Sinking	-	11	-	11	
Deposits	840	-	-	840	
Total Assets	$	2,184,175	$	586,544	$	440,307	$	3,211,027	

Liabilities:					
Accounts Payable	$	21,226	$	-	$	-	$	21,226	
Due to Debt Service	16,098	-	-	16,098	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	50,823	$	-	$	-	$	50,823	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	$	840	
Restricted for:					
Debt Service	-	586,544	-	586,544	
Capital Project Reserve Fund	-	-	440,307	440,307	
Emergency Fund	561,474	-	-	561,474	
Unassigned	1,571,038	-	-	1,571,038	
Total Fund Balances	$	2,133,352	$	586,544	$	440,307	$	3,160,203	
					
Total Liabilities & Fund Balance	$	2,184,175	$	586,544	$	440,307	$	3,211,027	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/25	Thru 06/30/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,284,078	$	11,416	
Interest Income	95,000	71,250	66,326	(4,924)	
Other Income	-	-	100	100	
Total Revenues	$	1,367,662	$	1,343,912	$	1,350,504	$	6,592	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	18,000	$	7,600	$	10,400	
FICA Taxes	1,836	1,377	581	796	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	48,750	44,266	4,484	
Attorney - Special Counsel	50,000	37,500	10,095	27,405	
Annual Audit	3,800	2,850	3,800	(950)	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	68,868	51,651	51,651	(0)	
Information Technology	1,000	750	750	0	
Website Maintenance	1,000	750	750	0	
Postage & Delivery	750	563	486	76	
Insurance General Liability	13,755	13,755	12,631	1,124	
Printing & Binding	2,000	1,500	383	1,117	
Rental & Leases	4,800	3,600	3,600	-	
Meeting Room	1,200	900	700	200	
Legal Advertising	1,500	1,125	951	174	
Other Current Charges	1,250	938	1,086	(148)	
Office Supplies	250	188	2	186	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	2,250	1,521	729	
Total General & Administrative	$	253,784	$	196,220	$	150,628	$	45,592	

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/25	Thru 06/30/25	Variance	

Operations & Maintenance		
Special Pay	$	1,500	$	1,500	$	1,500	$	-	
Field Management	80,000	60,000	60,000		(0)	
Video Monitoring	3,000	2,250	2,038		212	
Internet/Data	3,000	2,250	1,120		1,130	
Electric	112,898	84,673	75,498		9,175	
Water	11,000	8,250	6,178		2,072	
Insurance	54,547	54,547	48,802		5,745	
Weed Control	33,132	24,849	24,849		-	
Culvert Inspection	15,000	11,250	8,250		3,000	
Holiday Lighting/Decorations	77,000	77,000	77,647		(647)	
Iguana Removal	7,500	5,625	4,525		1,100	
Landscape Maintenance	356,614	267,461	271,421		(3,960)	
Pest Control/Fertilization	48,300	36,225	36,500		(275)	
Landscape Replacement	68,569	51,427	76,771		(25,344)	
Annual Tree Trimming	39,000	29,250	-		29,250	
Fountain Maintenance	4,000	3,000	2,625		375	
Fountain Repairs and Maintenance	7,500	5,625	4,330		1,296	
Irrigation Repairs/Maintenance	32,000	24,000	23,633		367	
Pressure Cleaning	37,070	37,070	36,450		620	
Contingencies	20,000	15,000	14,346		654	
Paver Repairs	10,000	10,000	11,684		(1,684)	
Lighting/Electrical Repairs	30,000	22,500	11,582		10,918	
RPM Replacements	4,500	4,500	8,640		(4,140)	
Rust Preventative TR Park	4,748	3,561	3,473		88	
Flags	3,000	2,250	5,149		(2,899)	
Total Operations & Maintenance	$	1,063,878	$	844,063	$	817,012	$	27,051	
									
Total Expenditures	$	1,317,662	$	1,040,283	$	967,640	$	72,643	
									
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	303,629	$	382,864	$	79,236	

Other Financing Sources/(Uses):

Transfer In/(Out)

$	(50,000)	$

(50,000)	$

(50,000)	$	-

Fund Balance - Ending	$	2,133,352

Fund Balance - Beginning	$	1,800,488

Net Change in Fund Balance	$	(0)	$	253,629	$	332,864	$	79,236

Total Other Financing Sources/(Uses)	$	(50,000)	$	(50,000)	$	(50,000)	$	-

Community Development District Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended June 30, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/25	Thru 06/30/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	448,928	$	3,305	
Interest Income	-	-	20,098	20,098	
Prepayments	-	-	5,260	(5,260)	
Total Revenues	$	445,623	$	445,623	$	474,286	$	18,144	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	47,573	

$	47,573	

$	47,573	

$	(0)	
Interest - 5/1	47,573	47,573	47,573	(0)	
Principal - 5/1	90,000	90,000	90,000	-	
Series 2017-2
Interest - 11/1	

86,275	

86,275	

86,275	

-	
Interest - 5/1	86,275	86,275	86,275	-	
Principal - 5/1	85,000	85,000	85,000	-	
Total Expenditures	$	442,696	$	442,696	$	442,696	$	(0)	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,927	$	2,927	$	31,590	$	18,144	
					
Fund Balance - Beginning			$	554,954		
					
Fund Balance - Ending			$	586,544		

Community Development District Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended June 30, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/25	Thru 06/30/25	Variance	

Revenues		
Interest	$	500	$	375	$	14,102	$	13,727	
Total Revenues	$	500	$	375	$	14,102	$	13,727	

Expenditures:					
Bank Service Charges	$	-	$	-	$	801	$	(801)	
Engineering Fees	-	-	58,440	(58,440)	
Lights	-	-	5,600	(5,600)	
Flag Pole Lighting	-	-	11,502	(11,502)	
Fountain Equipment Replacement	-	-	9,293	(9,293)	
Signs	-	-	6,504	(6,504)	
Total Expenditures	$	-	$	-	$	92,141	$	(92,141)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	375	$	(78,038)	$	(78,413)	

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	50,000	$	50,000	$	50,000	$	-	
Total Other Financing Sources (Uses)	$	50,000	$	50,000	$	50,000	$	-	
					
Net Change in Fund Balance	$	50,500	$	50,375	$	(28,038)	$	(78,413)	
					
Fund Balance - Beginning			$	468,346		
					
Fund Balance - Ending			$	440,307		

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

Revenues:														
Special Assessments - Tax Roll	$	-	$ 202,981	$ 1,007,459  $	17,696	$	7,843  $	9,544  $	20,370  $	13,960  $	4,225	$	-	$	-	$	-	$ 1,284,078	
Interest Income	6,513	5,575	5,666	8,805	7,956	8,629	7,983	7,873	7,327	-	-	-	66,326	
Other Income	-	100	-	-	-	-	-	-	-	-	-	-	100	
Total Revenues	$	6,513	$ 208,656	$ 1,013,125  $  26,501	$  15,799  $  18,173  $  28,353  $  21,832  $  11,552	$	-	$	-	$	-	$ 1,350,504	

Expenditures:			
General & Administrative:			
Supervisor Fees	$	2,000	$	-	$	1,000  $	-	$	1,800  $	800  $	1,000  $	1,000  $	-	$	-	$	-	$	-	$	7,600	
FICA Taxes	153	-	77	-	138	61	77	77	-	-	-	-	581	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	5,803	3,768	2,640	7,865	6,683	5,720	6,063	5,726	-	-	-	-	44,266	
Attorney - Special Counsel	-	903	280	1,190	1,940	420	1,368	3,995	-	-	-	-	10,095	
Annual Audit	-	-	-	-	-	-	-	2,000	1,800	-	-	-	3,800	
Arbitrage Rebate	-	-	600	-	-	-	-	-	-	-	-	-	600	
Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	5,739	5,739	5,739	5,739	5,739	5,739	5,739	5,739	5,739	-	-	-	51,651	
Information Technology	83	83	83	83	83	83	83	83	83	-	-	-	750	
Website Maintenance	83	83	83	83	83	83	83	83	83	-	-	-	750	
Postage & Delivery	37	40	74	47	16	159	45	15	53	-	-	-	486	
Insurance General Liability	12,631	-	-	-	-	-	-	-	-	-	-	-	12,631	
Printing & Binding	17	7	30	56	33	47	30	87	76	-	-	-	383	
Rental & Leases	400	400	400	400	400	400	400	400	400	-	-	-	3,600	
Meeting Room	100	100	-	100	100	100	100	100	-	-	-	-	700	
Legal Advertising	-	-	-	-	-	-	147	156	648	-	-	-	951	
Other Current Charges	183	114	101	101	101	101	101	162	125	-	-	-	1,086	
Office Supplies	-	2	-	-	-	-	-	-	0	-	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	234	234	234	234	117	-	234	234	-	-	-	-	1,521	
Total General & Administrative	$  36,637	$  11,472	$  11,340  $  15,898	$  17,233  $  13,713  $  15,469  $  19,858  $	9,008	$	-  $	-  $	-  $	150,628	

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

Operations & Maintenance		
Special Pay	$	-	$	-	$	-	$	-	$	1,500	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,500	
Field Management	6,667	6,667	6,667	6,667	6,667	6,667	6,667	6,667	6,667	-	-	-	60,000	
Video Monitoring	226	226	226	226	226	226	226	226	226	-	-	-	2,038	
Internet/Data	138	148	138	138	138	138	138	148	-	-	-	-	1,120	
Electric	7,424	7,690	8,320	9,062	8,850	8,608	8,183	8,450	8,910	-	-	-	75,498	
Water	122	437	941	898	868	1,022	855	1,035	-	-	-	-	6,178	
Insurance	48,802	-	-	-	-	-	-	-	-	-	-	-	48,802	
Weed Control	2,761	2,761	2,761	2,761	2,761	2,761	2,761	2,761	2,761	-	-	-	24,849	
Culvert Inspection	-	-	-	800	1,200	-	-	-	6,250	-	-	-	8,250	
Holiday Lighting/Decorations	576	40,285	36,787	-	-	-	-	-	-	-	-	-	77,647	
Iguana Removal	625	625	625	625	775	625	625	-	-	-	-	-	4,525	
Landscape Maintenance	29,718	29,718	29,718	30,510	30,510	30,510	30,510	30,510	29,718	-	-	-	271,421	
Pest Control/Fertilization	4,300	4,025	4,025	4,025	4,025	4,025	4,025	4,025	4,025	-	-	-	36,500	
Landscape Replacement	7,366	3,674	2,477	9,410	4,369	2,100	40,456	5,262	1,656	-	-	-	76,771	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	285	285	285	295	295	295	295	295	295	-	-	-	2,625	
Fountain Repairs and Maintenance	600	1,186	-	1,206	-	814	-	175	350	-	-	-	4,330	
Irrigation Repairs/Maintenance	-	788	788	788	4,246	4,928	2,852	2,852	6,391	-	-	-	23,633	
Pressure Cleaning	-	36,450	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	3,654	139	4,259	5,158	347	5	136	-	647	-	-	-	14,346	
Paver Repairs	-	4,300	-	-	-	7,384	-	-	-	-	-	-	11,684	
Lighting/Electrical Repairs	1,502	1,038	3,726	1,051	1,025	1,572	1,668	-	-	-	-	-	11,582	
RPM Replacements	-	-	-	-	-	8,640	-	-	-	-	-	-	8,640	
Rust Preventative TR Park	386	386	386	386	386	386	386	386	386	-	-	-	3,473	
Flags	-	-	650	-	-	-	4,499	-	-	-	-	-	5,149	
Total Operations & Maintenance	$ 115,151	$ 140,827	$ 102,778	$  74,006	$  68,188	$  80,705	$ 104,283	$  62,790	$  68,282	$	-  $	-  $	-  $ 817,012	
											
Total Expenditures	$ 151,788	$ 152,299	$ 114,119	$  89,904	$  85,421	$  94,418	$ 119,752	$  82,649	$  77,290	$	-  $	-  $	-  $ 967,640	
											
Excess (Deficiency) of Revenues over Expenditures	$ (145,276)	$  56,357	$ 899,006	$ (63,402)	$ (69,622)	$ (76,245)	$ (91,400)	$ (60,816)	$ (65,738)	$	-  $	-  $	-  $ 382,864	

Other Financing Sources/Uses:											

Transfer In/(Out)	
$ (50,000)	
$	-	
$	-	
$	-	
$	-	
$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  (50,000)	

Net Change in Fund Balance	$ (195,276) $  56,357  $  899,006  $ (63,402) $ (69,622) $ (76,245) $ (91,400) $ (60,816) $ (65,738) $	-  $	-  $	-  $ 332,864

Total Other Financing Sources/Uses	$ (50,000)  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  (50,000)

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 - 9/30/2024		
$2,940,000	
	May 1, 2025 (Mandatory)	($90,000)	
Current Bonds Outstanding		$2,850,000	

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 - 9/30/2024		
$3,525,000	
	May 1, 2025 (Mandatory)	($85,000)	
Current Bonds Outstanding		$3,440,000	
	
Total Current Bonds Outstanding		$6,290,000	

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	

11/22/24	
11/1/24-11/15/24	
$	94,915.43	
$	3,926.35	
$	909.89	
$	-	
$	90,079.19	
$	67,491.23	
$	22,587.96	
$	90,079.19	
12/03/24	PROP APPRAISER	-	-	778.48	-	(778.48)	(583.27)	(195.21)	(778.48)	
12/06/24	11/1/24-11/30/24	155,052.27	6,202.42	1,488.50	-	147,361.35	110,409.51	36,951.84	147,361.35	
12/18/24	12/1/24-12/11/24	427,963.13	17,054.98	4,109.08	-	406,799.07	304,791.48	102,007.59	406,799.07	
12/27/24	12/12/24-12/21/24	5,238.97	169.29	50.70	-	5,018.98	3,760.44	1,258.54	5,018.98	
01/06/25	12/1/24-12/31/24	16,363.78	490.87	158.73	-	15,714.18	11,773.74	3,940.44	15,714.18	
01/10/25	1/1/25-1/6/25	2,387.08	66.96	23.20	-	2,296.92	1,720.95	575.97	2,296.92	
01/24/25	INTEREST	-	-	-	396.09	396.09	296.77	99.32	396.09	
02/14/25	1/7/25-1/31/25	17,980.50	378.04	176.02	-	17,426.44	13,056.64	4,369.80	17,426.44	
03/14/25	2/1/25-2/28/25	13,003.26	136.40	128.67	-	12,738.19	9,544.00	3,194.19	12,738.19	
04/11/25	3/1/25-3/31/25	26,620.84	9.28	266.12	-	26,345.44	19,739.14	6,606.30	26,345.44	
04/25/25	INTEREST	-	-	-	842.08	842.08	630.92	211.16	842.08	
05/15/25	4/1/25-4/30/25	$18,580.77	$0.00	$188.19	239.38	18,631.96	13,959.87	4,672.09	18,631.96	
06/13/25	5/1/25-5/31/25	$5,529.91		$56.96	165.89	5,638.84	4,224.86	1,413.98	5,638.84	
	TOTAL	$	783,635.94	$	28,434.59	$	8,334.54	$	1,643.44	$	748,510.25	$	560,816.28	$	187,693.97	$	748,510.25	

$

99.68%
2,525.40

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	

11/22/24	
11/1/24-11/15/24	
$	82,829.15	
$	3,313.17	
$	795.16	
$	-	
$	78,720.82	
$	57,526.66	
$	21,194.16	
$	78,720.82	
12/03/24	PROP APPRAISER	-	-	376.04	-	(376.04)	(274.80)	(101.24)	(376.04)	
12/18/24	12/1/24-12/11/24	296,923.46	11,876.94	2,850.47	-	282,196.05	206,219.85	75,976.20	282,196.05	
1/24/25	INTEREST	$0.00	$0.00	$0.00	$212.51	212.51	155.30	57.21	212.51	
	TOTAL	$	379,752.61	$	15,190.11	$	4,021.67	$	212.51	$	360,753.34	$	263,627.01	$	97,126.33	$	360,753.34	

$

100.00%
-

Percent Collected
Balance Remaining to Collect

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

489,275.22  $

174,690.67  $

663,965.89

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

11/22/24	
11/1/24-11/15/24	
$	113,237.69	
$	4,529.50	
$	1,087.08	
$	-	
$	107,621.11	
$	79,305.79	
$	28,315.32	
$	107,621.11	
12/03/24	PROP APPRAISER	-	-	657.48	-	(657.48)	(484.50)	(172.98)	(657.48)	
12/06/24	11/1/24-11/30/24	470,063.29	18,802.53	4,512.61	-	446,748.15	329,207.87	117,540.28	446,748.15	
12/18/24	12/1/24-12/11/24	68,332.08	2,733.29	655.99	-	64,942.80	47,856.23	17,086.57	64,942.80	
1/6/25	12/1/24-12/31/24	$4,897.72	$146.93	$47.51	$0.00	4,703.28	3,465.84	1,237.44	4,703.28	
1/24/25	INTEREST	$0.00	$0.00	$0.00	$384.73	384.73	283.51	101.22	384.73	
	TOTAL	$	656,530.78	$	26,212.25	$	6,960.67	$	384.73	$	623,742.59	$	459,634.74	$	164,107.85	$	623,742.59	

98.88%	Percent Collected	
$	7,435.11	Balance Remaining to Collect	
		
99.46%	Total Percent Collected	
$	9,960.51	Total Balance Remaining to Collect