TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
Unaudited Financial Statements as of
October 31, 2022

Board of Supervisors Meeting November 28, 2022

TABLE OF CONTENTS

		Financial Statements - October 31, 2022

		Community Projects Construction Schedule - October 31, 2022

		Check Run Summary - November 28, 2022

COMBINED BALANCE SHEET
October 31, 2022

	Major Funds		Total
	
	General			Debt
	Service			Capital
	Projects			Governmental
	Funds		
ASSETS:
Cash	
$75,382		
$0		
$98,899		
$174,281	
State Board - Operating Reserves	$1,151,978		---		---		$1,151,978	
State Board - Renewal & Replacement	---		---		$625,576		$625,576	
State Board - Emergency Reserves SERIES 2017
Reserve 2017-1	$506,760

---		---

$93,322		---

---		$506,760

$93,322	
Reserve 2017-2	---		$130,749		---		$130,749	
Revenue 2017-1	---		$58,543		---		$58,543	
Revenue 2017-2	---		$59,174		---		$59,174	
Interest 2017-1	---		$49,433		---		$49,433	
Interest 2017-2	---		$89,575		---		$89,575	
Principal 2017-1	---		$4		---		$4	
Sinking 2017-2	---		$4		---		$4	
Prepayment 2017-1	---		$3,174		---		$3,174	
Deposits		$840 			--- 			--- 			$840 	
TOTAL ASSETS		$1,734,960 			$483,978 			$724,475 			$2,943,413 	

LIABILITIES:
Accounts Payable	

$128,501		

---		

$4,990		

$133,491	
Deposits / Trash Bonds		$13,500 			--- 			--- 			$13,500 	
TOTAL LIABILITIES		$142,001 			$0 			$4,990 			$146,991 	

FUND BALANCES:
Nonspendable: Deposits	

$840	

---	

---	

$840	
Restricted for:
Debt Service	
---	
$483,978	
---	
$483,978	
Committed for:
Emergency Fund	
$506,760		
---		
---		
$506,760	
Unassigned		$1,085,359 			--- 			$719,485 			$1,804,844 	
TOTAL FUND BALANCES		$1,592,959 			$483,978 			$719,485 			$2,796,422 	
TOTAL LIABILITIES & FUND BALANCES		$1,734,960 			$483,978 			$724,475 			$2,943,413 	

 DESCRIPTION		ADOPTED
  BUDGET			PRORATED BUDGET
  THRU 10/31/22			ACTUAL
 THRU 10/31/22 		
  VARIANCE 	
REVENUES:
Maintenance Assessments (1)	
$1,272,662		
$106,055		
$0		
($106,055)	
Interest Income	$1,000		$83		$4,572		$4,489	
Miscellaneous Revenues	$0		$0		$23		$23	
TOTAL REVENUES	 $1,273,662 			$106,138 			$4,595 		  ($101,543) 	
EXPENDITURES:								
ADMINISTRATIVE:								
Supervisor Fees	$24,000		$2,000		$1,000		$1,000	
FICA Expense	$1,836		$153		$77		$76	
Arbitrage	$600		$50		$0		$50	
Engineering	$10,000		$833		$0		$833	
Attorney	$50,000		$4,167		$0		$4,167	
Attorney - Special Counsel	$20,000		$1,667		$0		$1,667	
Trustee Fees	$7,000		$7,000		$7,000		$0	
Annual Audit	$4,300		$358		$0		$358	
Management Fees	$64,914		$5,410		$5,410		$0	
Computer Time	$1,000		$83		$83		$0	
Website Compliance	$1,000		$83		$83		$0	
Telephone	$200		$17		$0		$17	
Postage	$750		$63		$42		$21	
Printing & Binding	$2,400		$200		$115		$85	
Rentals & Leases	$4,800		$400		$400		$0	
Insurance	$11,406		$11,406		$11,406		$0	
Legal Advertising	$1,200		$100		$0		$100	
Other Current Charges	$1,200		$100		$58		$42	
Office Supplies	$250		$21		$0		$21	
Dues, Licenses & Subscriptions	$175		$175		$175		$0	
TOTAL ADMINISTRATIVE		$207,031 			$34,285 			$25,849 			$8,437 	
Field Expenses:								
Field Management	$50,000		$4,167		$4,167		($0)	
Video Monitoring	$3,000		$250		$226		$24	
Internet/Data	$4,000		$333		$338		($5)	
Electric	$98,000		$8,167		$8,543		($376)	
Water	$9,000		$750		$0		$750	
Insurance	$38,123		$38,123		$35,608		$2,515	

 DESCRIPTION		ADOPTED
  BUDGET		PRORATED BUDGET
  THRU 10/31/22		ACTUAL
 THRU 10/31/22 	
  VARIANCE 	
Contract Services:
Weed Control	
$31,260	
$2,605	
$0	
$2,605	
Culvert Inspection	$15,000	$13,900	$13,900	$0	
Holiday Lighting	$52,768	$4,397	$0	$4,397	
Iguana Removal	$7,500	$625	$0	$625	
Repairs & Maintenance: Landscape Maintenance	
$338,794	
$28,233	
$22,385	
$5,848	
Pest Control/Fertilization	$48,300	$4,025	$4,025	$0	
Landscape Replacement	$109,000	$9,083	$4,072	$5,011	
Annual Tree Trimming	$31,000	$31,000	$34,772	($3,772)	
Fountain Maintenance	$7,500	$625	$140	$485	
Fountain Repairs	$15,000	$1,250	$150	$1,100	
Irrigation Repairs/Maintenance	$17,500	$1,458	$1,459	($1)	
Pressure Cleaning	$37,070	$27,315	$27,315	$0	
Contingencies	$15,115	$1,260	$4,215	($2,955)	
Lighting/Electrical Repairs	$20,000	$1,667	$937	$730	
RPM Replacements	$4,500	$375	$0	$375	
Rust Preventative TR Park	$4,200	$350	$350	$0	
Operating Supplies: Gas/Oil/Misc	
$2,000	
$167	
$0	
$167	
Holiday Decorations	$5,000	$417	$0	$417	
Flags	$3,000	$250	$0	$250	
Capital Projects:
Capital Projects Transfer Out	
$100,000	
$8,333	
$0	
$8,333	
TOTAL FIELD	 $1,066,630 			$189,124 			$162,602 			$26,522 	
TOTAL EXPENDITURES	 $1,273,662 			$223,410 			$188,451 			$34,959 	
Excess (deficiency) of revenues
over (under) expenditures		$0 		
	($117,271) 		
	($183,856) 		
	($66,585) 	

FUND BALANCE - Beginning	
$0	
$1,776,815	

FUND BALANCE - Ending		$0 		$1,592,959 

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

DEBT SERVICE FUND SERIES 2017
Statement of Revenues, Expenditures and Changes in Fund Balance For the Period Ending October 31, 2022

 DESCRIPTION			ADOPTED
	BUDGET		PRORATED BUDGET
 THRU 10/31/22 	ACTUAL
 THRU 10/31/22 		
	VARIANCE		
REVENUES:							
Assessments		$445,623	$37,135	$0		($37,135)	
Interest Income		$0	$0	$911		$911	
TOTAL REVENUES			$445,623 		$37,135 		$911 			($36,224) 	
EXPENDITURES:							
Series 2017-1
Interest - 11/1		
$49,433	
$0	
$0		
$0	
Interest - 5/1		$49,433	$0	$0		$0	
Principal - 5/1		$85,000	$0	$0		$0	

Series 2017-2				$0			
Interest - 11/1		$89,575	$0	$0		$0	
Interest - 5/1		$89,575	$0	$0		$0	
Principal - 5/1		$80,000	$0	$0		$0	
TOTAL EXPENDITURES		$443,015 			$0 			$0 			$0 	
Excess (deficiency) of revenues
over (under) expenditures		$2,608 		
	$37,135 		
	$911 		
	($36,224) 	

FUND BALANCE - Beginning	
$253,129	
$483,067	

FUND BALANCE - Ending		$255,737 		$483,978 

Long Term Debt Report FY 2023

Series 2017-1, Special Assessment Bonds	

Interest Rate:	
2.125%		
Maturity Date:	5/1/23	$85,000.00	
Interest Rate:	2.250%		
Maturity Date:	5/1/24	$85,000.00	
Interest Rate:	2.500%		
Maturity Date:	5/1/25	$90,000.00	
Interest Rate:	2.600%		
Maturity Date:	5/1/26	$90,000.00	
Interest Rate:	2.750%		
Maturity Date:	5/1/27	$95,000.00	
Interest Rate:	2.875%		
Maturity Date:	5/1/28	$95,000.00	
Interest Rate:	3.100%		
Maturity Date:	5/1/32	$420,000.00	
Interest Rate:	3.250%		
Maturity Date:	5/1/37	$605,000.00	
Interest Rate:	3.400%		
Maturity Date:	5/1/47	$1,545,000.00	
Reserve Requirement:	Maximum Annual Debt Service		
Bonds outstanding - 9/30/2022		$3,110,000.00	
	May 1, 2023 (Mandatory)	$0.00	
Current Bonds Outstanding		$3,110,000.00	

Series 2017-2, Special Assessment Bonds	

Interest Rate:	
4.000%		
Maturity Date:	5/1/28	$535,000.00	
Interest Rate:	5.000%		
Maturity Date:	5/1/37	$1,135,000.00	
Interest Rate:	5.000%		
Maturity Date:	5/1/47	$2,020,000.00	
Reserve Requirement:	Maximum Annual Debt Service		
Bonds outstanding - 9/30/2022		$3,690,000.00	
	May 1, 2023 (Mandatory)	$0.00	
Current Bonds Outstanding		$3,690,000.00	

Total Current Bonds Outstanding	$6,800,000.00

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance For the Period Ending October 31, 2022

DESCRIPTION	
BUDGET		PRORATED BUDGET
  THRU 10/31/22			ACTUAL
 THRU 10/31/22 		
  VARIANCE 	

REVENUES:								
Interest Income	$500		$42		$1,815		$1,773	
TOTAL REVENUES		$500 			$42 			$1,815 			$1,773 	
EXPENDITURES:								

Bank Service Charges	$0		
$0		
$14		
($14)	
Engineering Fees	$0		$0		$4,990		($4,990)	
Signarama - Monuments	$0		$0		$15,558		($15,558)	
TOTAL EXPENDITURES		$0 			$0 			$20,562 			($20,562) 	
Excess (deficiency) of revenues
over (under) expenditures	 	$500  		
	$42 		
	($18,747) 		
	($18,789) 	

OTHER FINANCING SOURCES/(USES)								
Interfund Transfer In/(Out)	$100,000		$8,333		$0		($8,333)	
TOTAL OTHER FINANCING SOURCES/(USES)	  $100,000 			$8,333 			$0 			($8,333) 	
Net change in fund balance	$100,500		$8,375		($18,747)		($27,122)	

FUND BALANCE - Beginning	
$551,255				
$738,232			
FUND BALANCE - Ending	  $651,755 					$719,485 			

Repairs and Replacements

TURTLE RUN
COMMUNITY DEVELOPMENT DISTRICT
COMMUNITY PROJECTS

1. Recap of Capital Reserve Fund Activity Through October 31, 2022
Opening Balance in Capital Reserve Account			
$1,752,217.27	
Source of Funds:	Interest Earned			$51,751.47	
Interfund Transfer			$1,237,179.00	
Assessment Receipt Transfers			$3,423,471.24	
Use of Funds: Disbursements:				
Pavers	($82,619.25)	Security Wall-Forest Glen		($6,750.00)	
Park Fence	($236,900.15)	Gate Houses		($51,422.75)	
Curbing/Extension	($132,731.07)	Park Drop Off Loop		($4,302.50)	
Roundabout	($883,349.16)	Newport Pathway		($1,892.50)	
Privacy Wall	($95,189.97)	Coach Lamps		($20,285.00)	
FPL Access Road	($24,870.50)	Turtle Creek Dr. Restripping		($13,330.00)	
Lake Bank Restorations	($668,643.53)	Electrical Repairs		($3,229.84)	
Lighting Project	($370,529.61)	Creekside Dr Re-Stripping		($15,425.00)	
Crosswalks/Park Entryway	($45,388.52)	Flags		($4,075.00)	
Signs	($238,626.63)	Monument Improvements		($90,876.06)	
Video Surveillance	($47,309.31)	Split Rail Fence		$0.00	
Median Widening	($811,248.77)	Front Entrance Pavers-Reset		($24,040.00)	
Retaining Wall	($33,923.31)	Plant Removal / Sod Installation		($6,983.27)	
Paving-Estates	($78,488.33)	Irrigation System Evaluation		($1,860.00)	
Paver Replacements	($250,210.43)	Bond Issue/Misc Engineering/Legal		($324,362.70)	
East Median Widening	($417,053.67)	Tortoise Way ROW Improvements		($8,595.00)	
Bank Service Charges	($4,614.98)	Child Care Center Storm Water Report		($1,822.50)	
Turtle Run Blvd. Central	($4,120.00)	Composite Site Plan		($2,162.50)	
Decorative Sign Posts	($35,180.00)	TRCDD Master Plan		($1,337.50)	
Security Wall Model	($115,404.58)	Permits		($3,224.34)	
Passive Park	($55,389.92)	Entrance		($186,495.97)	
Irrigation Pumps	($153,011.10)	Newport Sidewalk Modifications		$0.00	
Terrapin Lane Turnlane	($8,552.50)	Turtle Creek Blvd Sidewalk Improvements		($59,471.51)	
Post & Rail Fence	($1,650.00)	Roadway Improvements		($113,195.23)	
Adjusted Balance in Capital Reserve Account at October 31, 2022				$724,474.53 	

2. Funds Available For Construction at October 31, 2022
Book Balance of Construction Fund at October 31, 2022		

$724,474.53		

Construction Funds available at October 31,	2022				$724,474.53 		
3. Investments - SBA						
October 31, 2022 Construction Fund:	Type Overnight	Yield 0.15%	Due	Maturity
$724,474.53	Principal
$724,474.53	

ADJ: Deposits in Transit 	$0.00  ADJ: Outstanding Invoices/Retainage 	$0.00  Balance at 10/31/2022 	$724,474.53 

1. Recap of Capital Reserve Fund Activity Through October 31, 2022
Opening Balance in Construction Account		
$0.00	
Source of Funds:	Interest Earned		$81,982.09	
Bond Proceeds		$3,412,257.50	
Interfund Transfer
Use of Funds:
Disbursements:
Roadway Improvements		($27,257.82)

($933,890.49)	
Sign Post Replacement		($122,587.62)	
Streetlight Improvements		($777,394.78)	
Entrance Feature		($594,457.65)	
Post and Rail Fence		($104,988.48)	
Irrigation System Improvements		($58,379.03)	
Landscaping Improvements		($18,290.98)	
Sidwalk Improvements		($81,674.68)	
Tree removal		($3,449.44)	
Lake Buffer Restoration		($2,288.00)	
Forest Glen Middle School Barrier Wall		($20,683.66)	
Sound Barrier Wall		($211,295.72)	
Park Renovations		($4,738.87)	
LA Services for Lake Access		($109,985.98)	
Attorney Fees		($27,470.96)	
Engineering Fees-Misc.		($93,897.69)	
Cost of Issuance		($301,507.74)	
Adjusted Balance in Capital Reserve Account at October 31, 2022			$0.00 	

2. Funds Available For Construction at October 31, 2022
Book Balance of Construction Fund at October 31, 2022		

$0.00	
3. Investments - Regions Bank			
October 31, 2022	Type	Yield	Due	Maturity	Principal	
Construction Fund:	Overnight	0.11%	$0.00	$0.00	
	ADJ: Deposits in Transit	$0.00	
ADJ: Outstanding Invoices/Retainage 	$0.00  Balance at 10/31/2022 	$0.00 

1. Recap of Capital Reserve Fund Activity Through October 31, 2022
Opening Balance in Construction Account		
$0.00	
Source of Funds:	Interest Earned		$104,160.46	
Bond Proceeds		$4,116,171.95	
Interfund Transfer
Use of Funds:
Disbursements:
Roadway Improvements		($22,378.95)

($1,137,269.32)	
Sign Post Replacement		($163,242.80)	
Streetlight Improvements		($972,294.85)	
Entrance Feature		($810,011.92)	
Post and Rail Fence		($133,621.70)	
Irrigation System Improvements		($75,000.58)	
Landscaping Improvements		($23,279.43)	
Sidwalk Improvements		($103,949.59)	
Tree removal		($4,390.20)	
Lake Buffer Restoration		($2,912.00)	
Forest Glen Middle School Barrier Wall		($26,324.64)	
Sound Barrier Wall		($268,921.80)	
Park Renovations		($7,150.43)	
LA Services for Lake Access		($136,051.97)	
Attorney Fees		($34,999.04)	
Engineering Fees-Misc.		($132,167.40)	
Cost of Issuance		($166,365.79)	
Adjusted Balance in Capital Reserve Account at October 31, 2022			$0.00 	

2. Funds Available For Construction at October 31, 2022
Book Balance of Construction Fund at October 31, 2022		

$0.00	
3. Investments - Regions Bank			
October 31, 2022	Type	Yield	Due	Maturity	Principal	
Construction Fund:	Overnight	0.11%	$0.00	$0.00	
	ADJ: Deposits in Transit	$0.00	
ADJ: Outstanding Invoices/Retainage 	$0.00  Balance at 10/31/2022 	$0.00 

	TURTLE RUN		
	COMMUNITY DEVELOPMENT DISTRICT		
	
Check Run Summary		
	November 28, 2022		
	General Fund		
Date	Check Numbers	Amount	
11/14/22	5508	$242.00	
11/18/22	5509-5515	$36,712.71	
Total			$36,954.71 	
	
Capital Projects Fund		
Date	Check Numbers	Amount	
11/16/22	309	$4,990.00	
Total			$4,990.00 	

*** CHECK NOS. 005508-005515	TURTLE RUN - GENERAL FUND BANK B GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/14/22 00264 11/14/22 11142022 202211 320-54100-34500	*	242.00
SECURITY FOR CDD MEETING
CITY OF SUNRISE POLICE DEPARTMENT	242.00 005508
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00256 11/11/22 TR-017	202211 320-54100-46000	*	325.00
REPAIR/MAINT
ATZ CONSTRUCTION SERVICES INC	325.00 005509
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00257 11/09/22 31301 11 202211 320-54100-34501	*	226.43
11/22 SVCS
BLUE STREAM FIBER - AUTO PAY	226.43 005510
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00208	8/23/22 8039874	202206 320-54100-46200	*	6,460.00
RETAINAGE
BRIGHTVIEW LANDSCAPE SERVICES, INC.	6,460.00 005511
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00041 11/01/22 79324974 202210 310-51300-42000	*	21.28
DELIVERIES THRU 11/1
FEDEX	21.28 005512
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00252 10/27/22 1829	202210 320-54100-46406	*	140.00
10/22 SVCS
LUIS GUERRA	140.00 005513
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00087 10/17/22 17646	202210 320-54100-46215	*	25,515.00
PRESSURE WASHING SVCS
PEOPLE'S CHOICE PRESSURE CLEANING	25,515.00 005514
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/18/22 00220 10/26/22 10262022 202210 320-54100-46201	*	4,025.00
10/22 SVCS
SOUTHERN PLANT AND PEST SERVICES	4,025.00 005515
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK B	36,954.71
TOTAL FOR REGISTER	36,954.71

TRUN TURTLE RUN	JWASSERMAN

*** CHECK NOS. 000309-000309	TURTLE RUN - CAPITAL PROJECTS BANK C CAPITAL PROJECT FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/16/22 00045 11/02/22 894583	202210 600-53800-31600	*	4,990.00
10/22 SVCS
KCI TECHNOLOGIES INC	4,990.00 000309
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK C	4,990.00
TOTAL FOR REGISTER	4,990.00

TRUN TURTLE RUN	JWASSERMAN