Turtle Run
Community Development District

Unaudited Financial Reporting
October 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	

Balance Sheet October 31, 2025

	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	100,169	

$	-	

$	8,128	

$	108,297	
Due from General Fund	-	4,080	-	4,080	
Investments:
State Board of Administration - Operating Reserves	

154,282	

-	

-	

154,282	
State Board of Administration - Emergency Reserves	5,779	-	-	5,779	
State Board of Administration - Capital Reserves	-	-	1,978	1,978	
Bank United - Operating Reserves	981,650	-	-	981,650	
Bank United - Emergency Reserves	562,922	-	-	562,922	
Bank United - Capital Reserves	-	-	265,838	265,838	
Series 2017-1 Reserve	

-	

107,277	

-	

107,277	
Revenue	-	95,794	-	95,794	
Interest	-	46,454	-	46,454	
Principal	-	12	-	12	
Prepayment	-	8,969	-	8,969	
Series 2017-2 Reserve	

-	

150,301	

-	

150,301	
Revenue	-	103,878	-	103,878	
Interest	-	84,586	-	84,586	
Sinking	-	11	-	11	
Deposits	840	-	-	840	
Total Assets	$	1,805,642	$	601,361	$	275,944	$	2,682,947	

Liabilities:					
Accounts Payable	$	86,647	$	-	$	12,893	$	99,540	
Due to Debt Service	4,080	-	-	4,080	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	104,227	$	-	$	12,893	$	117,119	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service	-	601,361	-	601,361	
Capital Project Reserve Fund	-	-	263,052	263,052	
Emergency Fund	568,701	-	-	568,701	
Unassigned	1,131,875	-	-	1,131,875	
Total Fund Balances	$	1,701,416	$	601,361	$	263,052	$	2,565,829	
					
Total Liabilities & Fund Balance	$	1,805,642	$	601,361	$	275,944	$	2,682,947	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/25	Thru 10/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	-	$	-	$	-	
Interest Income	85,000	7,083	5,625	(1,459)	
Other Income	-	-	-	-	
Total Revenues	$	1,357,662	$	7,083	$	5,625	$	(1,459)	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	1,000	$	1,800	$	(800)	
FICA Taxes	918	77	138	(61)	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	5,417	-	5,417	
Attorney - Special Counsel	50,000	4,167	910	3,257	
Annual Audit	3,900	325	-	325	
Arbitrage Rebate	600	50	-	50	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	72,311	6,026	6,026	0	
Information Technology	1,000	83	83	0	
Website Maintenance	1,000	83	83	0	
Postage & Delivery	750	63	211	(148)	
Insurance General Liability	14,915	14,915	13,389	1,526	
Printing & Binding	1,000	83	8	76	
Rental & Leases	4,800	400	400	-	
Meeting Room	1,200	100	-	100	
Legal Advertising	1,250	104	-	104	
Other Current Charges	1,400	117	176	(60)	
Office Supplies	250	21	-	21	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	250	243	7	
Total General & Administrative	$	244,469	$	42,455	$	32,642	$	9,813	

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/25	Thru 10/31/25	Variance	

Operations & Maintenance		
Special Pay	$	1,000	$	83	$	-	$	83	
Field Management	80,000	6,667	6,667	(0)	
Video Monitoring	3,000	250	226	24	
Internet/Data	2,000	167	-	167	
Electric	105,888	8,824	8,595	229	
Water	11,000	917	-	917	
Insurance	52,706	52,706	49,305	3,401	
Weed Control	34,126	2,844	2,750	94	
Culvert Inspection	15,000	15,000	16,200	(1,200)	
Holiday Lighting/Decorations	77,071	6,423	-	6,423	
Iguana Removal	7,500	625	-	625	
Landscape Maintenance	371,392	30,949	30,949	0	
Pest Control/Fertilization	48,600	4,050	4,175	(125)	
Landscape Replacement	68,569	5,714	9,243	(3,529)	
Annual Tree Trimming	39,000	3,250	10,208	(6,958)	
Fountain Maintenance	4,000	333	295	38	
Fountain Repairs and Maintenance	7,500	625	-	625	
Irrigation Repairs/Maintenance	28,000	2,333	2,138	195	
Pressure Cleaning	37,070	37,070	36,450	620	
Contingencies	20,000	1,667	262	1,404	
Paver Repairs	11,000	917	-	917	
Lighting/Electrical Repairs	22,000	1,833	-	1,833	
RPM Replacements	9,000	750	-	750	
Rust Preventative TR Park	4,770	397	385	12	
Flags	3,000	250	-	250	
Total Operations & Maintenance	$	1,063,193	$	184,644	$	177,849	$	6,795	
					
Total Expenditures	$	1,307,662	$	227,099	$	210,490	$	16,609	
					
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	(220,016)	$	(204,866)	$	15,150	

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	$	(270,016)	$	(204,866)	$	65,150	
					
Fund Balance - Beginning			$	1,906,281		
					
Fund Balance - Ending			$	1,701,416		

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	-	$	-	$	-	
Interest Income Prepayments	-
-		-	2,008
-	-	2,008
-	
Total Revenues	$	445,623	$	-	$	2,008	$	2,008	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	46,448	

$	

-	$	-	

$	-	
Interest - 5/1	46,448		-	-	-	
Principal - 5/1	90,000		-	-	-	
Series 2017-2
Interest - 11/1	

84,575		

-	-	

-	
Interest - 5/1	84,575		-	-	-	
Principal - 5/1	90,000		-	-	-	
Total Expenditures	$	442,046	$	-	$	-	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	3,577	$	-	$	2,008	$	2,008	
					
Fund Balance - Beginning			$	599,353		
					
Fund Balance - Ending			$	601,361		

Revenues		
Interest	$	500	$	42	$	958	$	916	
Total Revenues	$	500	$	42	$	958	$	916	

Expenditures:					
Bank Service Charges	$	-	$	-	$	97	$	(97)	
Engineering Fees	-	-	15,393	(15,393)	
Signs	-	-	2,442	(2,442)	
Total Expenditures	$	-	$	-	$	17,931	$	(17,931)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	42	$	(16,973)	$	(17,015)	

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	$	50,042	$	(16,973)	$	(67,015)	
					
Fund Balance - Beginning			$	280,025		
					
Fund Balance - Ending			$	263,052		

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

Revenues:

Special Assessments - Tax Roll	$	-	$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	
Interest Income	5,625	-	-	-	-	-	-	-	-	-	-	-	5,625	
Insurance Proceeds	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Income	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Revenues	$	5,625  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	5,625	

Expenditures:		
General & Administrative:		
Supervisor Fees	$	1,800	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,800	
FICA Taxes	138	-	-	-	-	-	-	-	-	-	-	-	138	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	-	-	-	-	-	-	-	-	-	-	-	-	-	
Attorney - Special Counsel	910	-	-	-	-	-	-	-	-	-	-	-	910	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Arbitrage Rebate	-	-	-	-	-	-	-	-	-	-	-	-	-	

Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	6,026	-	-	-	-	-	-	-	-	-	-	-	6,026	
Information Technology	83	-	-	-	-	-	-	-	-	-	-	-	83	
Website Maintenance	83	-	-	-	-	-	-	-	-	-	-	-	83	
Postage & Delivery	211	-	-	-	-	-	-	-	-	-	-	-	211	
Insurance General Liability	13,389	-	-	-	-	-	-	-	-	-	-	-	13,389	
Printing & Binding	8	-	-	-	-	-	-	-	-	-	-	-	8	
Rental & Leases	400	-	-	-	-	-	-	-	-	-	-	-	400	
Meeting Room	-	-	-	-	-	-	-	-	-	-	-	-	-	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	176	-	-	-	-	-	-	-	-	-	-	-	176	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	

Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	243	-	-	-	-	-	-	-	-	-	-	-	243	
Total General & Administrative	$  32,642	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  32,642	

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

Operations & Maintenance

Special Pay
Field Management	$	-
6,667	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
-	$	-
6,667	
Video Monitoring	226	-	-	-	-	-	-	-	-	-	-	-	226	
Internet/Data	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	8,595	-	-	-	-	-	-	-	-	-	-	-	8,595	
Water	-	-	-	-	-	-	-	-	-	-	-	-	-	
Insurance	49,305	-	-	-	-	-	-	-	-	-	-	-	49,305	
Weed Control	2,750	-	-	-	-	-	-	-	-	-	-	-	2,750	
Culvert Inspection	16,200	-	-	-	-	-	-	-	-	-	-	-	16,200	
Holiday Lighting/Decorations	-	-	-	-	-	-	-	-	-	-	-	-	-	
Iguana Removal	-	-	-	-	-	-	-	-	-	-	-	-	-	
Landscape Maintenance	30,949	-	-	-	-	-	-	-	-	-	-	-	30,949	
Pest Control/Fertilization	4,175	-	-	-	-	-	-	-	-	-	-	-	4,175	
Landscape Replacement	9,243	-	-	-	-	-	-	-	-	-	-	-	9,243	
Annual Tree Trimming	10,208	-	-	-	-	-	-	-	-	-	-	-	10,208	
Fountain Maintenance	295	-	-	-	-	-	-	-	-	-	-	-	295	
Fountain Repairs and Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repairs/Maintenance	2,138	-	-	-	-	-	-	-	-	-	-	-	2,138	
Pressure Cleaning	36,450	-	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	262	-	-	-	-	-	-	-	-	-	-	-	262	
Paver Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-	
Lighting/Electrical Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-	
RPM Replacements	-	-	-	-	-	-	-	-	-	-	-	-	-	
Rust Preventative TR Park	385	-	-	-	-	-	-	-	-	-	-	-	385	
Flags	-	-	-	-	-	-	-	-	-	-	-	-	-	

Total Operations & Maintenance	$ 177,849	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 177,849	
			
Total Expenditures	$ 210,490	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 210,490	
			
Excess (Deficiency) of Revenues over Expenditures	$ (204,866)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (204,866)	

Other Financing Sources/Uses:

Transfer In/(Out)	

$	-	

$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Total Other Financing Sources/Uses	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
			
Net Change in Fund Balance	$ (204,866)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (204,866)	

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 - 9/30/2025		
$2,850,000	
	May 1, 2026 (Mandatory)	$0	
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 - 9/30/2025		
$3,440,000	
	May 1, 2026 (Mandatory)	$0	
Current Bonds Outstanding		$3,440,000	
	
Total Current Bonds Outstanding		$6,290,000