Turtle Run
Community Development District

Unaudited Financial Reporting
July 31, 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 July 31, 2025		
	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	36,216	

$	-	

$	25,663	

$	61,878	
Due from General Fund	-	18,784	-	18,784	
Investments:
State Board of Administration - Operating Reserves	

550,224	

-	

-	

550,224	
State Board of Administration - Emergency Reserves	5,716	-	-	5,716	
State Board of Administration - Capital Reserves	-	-	1,957	1,957	
Bank United - Operating Reserves	972,291	-	-	972,291	
Bank United - Emergency Reserves	557,618	-	-	557,618	
Bank United - Capital Reserves	-	-	402,943	402,943	
Series 2017-1 Reserve	

-	

106,154	

-	

106,154	
Revenue	-	124,060	-	124,060	
Interest	-	6	-	6	
Principal	-	12	-	12	
Prepayment	-	8,875	-	8,875	
Series 2017-2 Reserve	

-	

148,728	

-	

148,728	
Revenue	-	184,540	-	184,540	
Interest	-	10	-	10	
Sinking	-	11	-	11	
Deposits	840	-	-	840	
Total Assets	$	2,122,905	$	591,180	$	430,563	$	3,144,647	

Liabilities:					
Accounts Payable	$	12,106	$	-	$	32,400	$	44,506	
Due to Debt Service	18,784	-	-	18,784	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	44,390	$	-	$	32,400	$	76,790	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service	-	591,180	-	591,180	
Capital Project Reserve Fund	-	-	398,163	398,163	
Emergency Fund	563,334	-	-	563,334	
Unassigned	1,514,341	-	-	1,514,341	
Total Fund Balances	$	2,078,515	$	591,180	$	398,163	$	3,067,857	
					
Total Liabilities & Fund Balance	$	2,122,905	$	591,180	$	430,563	$	3,144,647	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,291,743	$	19,081	
Interest Income	95,000	79,167	73,603	(5,564)	
Other Income	-	-	100	100	
Total Revenues	$	1,367,662	$	1,351,829	$	1,365,446	$	13,617	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	20,000	$	9,400	$	10,600	
FICA Taxes	1,836	1,530	719	811	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	54,167	48,509	5,658	
Attorney - Special Counsel	50,000	41,667	12,934	28,733	
Annual Audit	3,800	3,167	3,800	(633)	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	68,868	57,390	57,390	(0)	
Information Technology	1,000	833	833	0	
Website Maintenance	1,000	833	833	0	
Postage & Delivery	750	625	531	94	
Insurance General Liability	13,755	13,755	12,631	1,124	
Printing & Binding	2,000	1,667	406	1,261	
Rental & Leases	4,800	4,000	4,000	-	
Meeting Room	1,200	1,000	700	300	
Legal Advertising	1,500	1,250	1,102	148	
Other Current Charges	1,250	1,042	1,227	(186)	
Office Supplies	250	208	2	206	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	2,500	1,755	745	
Total General & Administrative	$	253,784	$	215,408	$	166,548	$	48,861	

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

Operations & Maintenance		
Special Pay	$	1,500	$	1,500	$	1,500	$	-	
Field Management	80,000	66,667	66,667		(0)	
Video Monitoring	3,000	2,500	2,264		236	
Internet/Data	3,000	2,500	1,258		1,242	
Electric	112,898	94,082	84,467		9,615	
Water	11,000	9,167	7,307		1,860	
Insurance	54,547	54,547	48,802		5,745	
Weed Control	33,132	27,610	24,849		2,761	
Culvert Inspection	15,000	12,500	8,250		4,250	
Holiday Lighting/Decorations	77,000	77,000	77,647		(647)	
Iguana Removal	7,500	6,250	4,525		1,725	
Landscape Maintenance	356,614	297,179	301,139		(3,960)	
Pest Control/Fertilization	48,300	40,250	41,000		(750)	
Landscape Replacement	68,569	57,141	76,771		(19,630)	
Annual Tree Trimming	39,000	32,500	-		32,500	
Fountain Maintenance	4,000	3,333	2,920		413	
Fountain Repairs and Maintenance	7,500	6,250	4,330		1,921	
Irrigation Repairs/Maintenance	32,000	26,667	24,265		2,402	
Pressure Cleaning	37,070	37,070	36,450		620	
Contingencies	20,000	16,667	14,551		2,116	
Paver Repairs	10,000	10,000	12,574		(2,574)	
Lighting/Electrical Repairs	30,000	25,000	12,074		12,926	
RPM Replacements	4,500	4,500	8,640		(4,140)	
Rust Preventative TR Park	4,748	3,957	3,473		484	
Flags	3,000	2,500	5,149		(2,649)	
Total Operations & Maintenance	$	1,063,878	$	917,335	$	870,871	$	46,464	
						
Total Expenditures	$	1,317,662	$	1,132,743	$	1,037,419	$	95,324	
						
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	219,086	$	328,027	$	108,942	

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	$	(0)	$	169,086	$	278,027	$	108,942	
					
Fund Balance - Beginning			$	1,800,488		
					
Fund Balance - Ending			$	2,078,515		

Community Development District Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended July 31, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	451,615	$	5,992	
Interest Income	-	-	22,047	22,047	
Prepayments	-	-	5,260	(5,260)	
Total Revenues	$	445,623	$	445,623	$	478,922	$	22,779	

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	$	36,226	$	22,779	
					
Fund Balance - Beginning			$	554,954		
					
Fund Balance - Ending			$	591,180		

Community Development District Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended July 31, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

Revenues		
Interest	$	500	$	417	$	15,474	$	15,057	
Total Revenues	$	500	$	417	$	15,474	$	15,057	

Expenditures:					
Bank Service Charges	$	-	$	-	$	895	$	(895)	
Engineering Fees	-	-	101,863	(101,863)	
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	$	-	$	-	$	135,656	$	(135,656)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	417	$	(120,183)	$	(120,599)	

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	$	50,417	$	(70,183)	$	(120,599)	
					
Fund Balance - Beginning			$	468,346		
					
Fund Balance - Ending			$	398,163		

	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  $	7,665	$	-	$	-	$ 1,291,743	
Interest Income	6,513	5,575	5,666	8,805	7,956	8,629	7,983	7,873	7,327	7,277	-	-	73,603	
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  $  14,942	$	-	$	-	$ 1,365,446	

Expenditures:							
General & Administrative:							
Supervisor Fees	$	2,000	$	-	$	1,000  $	-	$	1,800  $	800  $	1,000  $	1,000  $	1,000  $	800	$	-	$	-	$	9,400	
FICA Taxes	153	-	77	-	138	61	77	77	77	61	-	-	719	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	5,803	3,768	2,640	7,865	6,683	5,720	6,063	5,726	4,243	-	-	-	48,509	
Attorney - Special Counsel	-	903	280	1,190	1,940	420	1,368	3,995	2,839	-	-	-	12,934	
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	5,739	-	-	57,390	
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	37	40	74	47	16	159	45	15	53	45	-	-	531	
Insurance General Liability	12,631	-	-	-	-	-	-	-	-	-	-	-	12,631	
Printing & Binding	17	7	30	56	33	47	30	87	76	23	-	-	406	
Rental & Leases	400	400	400	400	400	400	400	400	400	400	-	-	4,000	
Meeting Room	100	100	-	100	100	100	100	100	-	-	-	-	700	
Legal Advertising	-	-	-	-	-	-	147	156	648	151	-	-	1,102	
Other Current Charges	183	114	101	101	101	101	101	162	125	141	-	-	1,227	
Office Supplies	-	2	-	-	-	-	-	-	0	0	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	234	234	234	234	117	-	234	234	-	234	-	-	1,755	
Total General & Administrative	$  36,637	$  11,472	$  11,340  $  15,898	$  17,233  $  13,713  $  15,469  $  19,858  $  17,166  $	7,761	$	-  $	-	$ 166,548	

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	6,667	-	-	66,667	
Video Monitoring	226	226	226	226	226	226	226	226	226	226	-	-	2,264	
Internet/Data	138	148	138	138	138	138	138	148	138	-	-	-	1,258	
Electric	7,424	7,690	8,320	9,062	8,850	8,608	8,183	8,450	8,910	8,969	-	-	84,467	
Water	122	437	941	898	868	1,022	855	1,035	1,129	-	-	-	7,307	
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	29,718	-	-	301,139	
Pest Control/Fertilization	4,300	4,025	4,025	4,025	4,025	4,025	4,025	4,025	4,025	4,500	-	-	41,000	
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	295	-	-	2,920	
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	632	-	-	24,265	
Pressure Cleaning	-	36,450	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	3,654	139	4,259	5,158	347	5	136	-	647	205	-	-	14,551	
Paver Repairs	-	4,300	-	-	-	7,384	-	-	-	890	-	-	12,574	
Lighting/Electrical Repairs	1,502	1,038	3,726	1,051	1,025	1,572	1,668	-	-	492	-	-	12,074	
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	$  69,548	$  52,593	$	-  $	-  $ 870,871	
												
Total Expenditures	$ 151,788	$ 152,299	$ 114,119	$  89,904	$  85,421	$  94,418	$ 119,752	$  82,649	$  86,714	$  60,354	$	-  $	-  $ 1,037,419	
												
Excess (Deficiency) of Revenues over Expenditures	$ (145,276)	$  56,357	$ 899,006	$ (63,402)	$ (69,622)	$ (76,245)	$ (91,400)	$ (60,816)	$ (75,162)	$ (45,413)	$	-  $	-  $ 328,027	

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) $ (75,162) $ (45,413) $	-  $	-  $ 278,027

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  $

197,133.81  $

786,159.94

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	
$	67,491.35	
$	22,587.84	
$	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	110,409.70	36,951.65	147,361.35	
12/18/24	12/1/24-12/11/24	427,963.13	17,054.98	4,109.08	-	406,799.07	304,792.03	102,007.04	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	11,773.77	3,940.41	15,714.18	
01/10/25	1/1/25-1/6/25	2,387.08	66.96	23.20	-	2,296.92	1,720.96	575.96	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	13,056.67	4,369.77	17,426.44	
03/14/25	2/1/25-2/28/25	13,003.26	136.40	128.67	-	12,738.19	9,544.02	3,194.17	12,738.19	
04/11/25	3/1/25-3/31/25	26,620.84	9.28	266.12	-	26,345.44	19,739.18	6,606.26	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	$11,145.67	$0.00	$113.35	189.81	11,222.13	8,408.12	2,814.01	11,222.13	
06/13/25	5/1/25-5/31/25	$5,529.91	$0.00	$56.96	165.89	5,638.84	4,224.87	1,413.97	5,638.84	
07/11/25	6/1/25-6/30/25	$9,959.10	$0.00	$102.58	298.75	10,155.27	7,608.78	2,546.49	10,155.27	
07/25/25	INTEREST	$0.00	$0.00	$0.00	170.85	170.85	128.01	42.84	170.85	
	TOTAL	$	786,159.94	$	28,434.59	$	8,362.28	$	2,063.47	$	751,426.54	$	563,002.32	$	188,424.22	$	751,426.54	

$

100.00%
-

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  $

174,690.66  $

663,965.88

$

100.00%
-

Total Percent Collected
Total Balance Remaining to Collect

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	
$	79,305.80	
$	28,315.31	
$	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	329,207.88	117,540.27	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	
05/15/25	4/1/25-4/30/25	7,435.10	-	74.84	49.57	7,409.83	5,460.29	1,949.54	7,409.83	
07/25/25	INTEREST	-	-	-	25.34	25.34	18.67	6.67	25.34	
	TOTAL	$	663,965.88	$	26,212.25	$	7,035.51	$	459.64	$	631,177.76	$	465,113.72	$	166,064.04	$	631,177.76	

$

100.00%
-

Percent Collected
Balance Remaining to Collect