Turtle Run
Community Development District

Unaudited Financial Reporting
October 31, 2023

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2017	

5	
	Capital Project Reserve Fund	

6-7	
	Month to Month	

8	
	Long Term Debt Report	

Combined Balance Sheet October 31, 2023

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

Assets:
Operating Account	

$	24,169	

$	-	

95,896	

$	120,065	
Due from General Fund	-	50	-	50	
Investments:
State Board of Administration - Operating Reserves	

101,022	

-	

-	

101,022	
State Board of Administration - Emergency Reserves	5,230	-	-	5,230	
State Board of Administration - Capital Reserves	-	-	17,192	17,192	
Bank United - Operating Reserves	1,011,545	-	-	1,011,545	
Bank United - Emergency Reserves	515,848	-	-	515,848	
Bank United - Capital Reserves	-	-	505,732	505,732	
Series 2017-1 Reserve	

-	

97,557	

-	

97,557	
Revenue	-	69,202	-	69,202	
Interest	-	48,530	-	48,530	
Principal	-	303	-	303	
Prepayment	-	3,319	-	3,319	
Series 2017-2 Reserve	

-	

136,683	

-	

136,683	
Revenue	-	73,032	-	73,032	
Interest	-	87,976	-	87,976	
Sinking	-	285	-	285	
Deposits	840	-	-	840	
Total Assets	$	1,658,653	$	516,938	$	618,820	$	2,794,412	

Liabilities:					
Accounts Payable	$	62,690	$	-	12,618	$	75,308	
Due to Debt Service	50	-	-	50	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	76,240	$	-	$	12,618	$	88,858	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service - Series	-	516,938	-	516,938	
Assigned for:
Capital Project Reserve Fund	
-	
-	
606,202	
606,202	
Emergency Fund	510,000	-	-	510,000	
Unassigned	1,071,573	-	-	1,071,573	
Total Fund Balances	$	1,582,413	$	516,938	$	606,202	$	2,705,553	
					
Total Liabilities & Fund Balance	$	1,658,653	$	516,938	$	618,820	$	2,794,412	

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/23	Thru 10/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll	$1,272,662	$0	$	-	$	-	
Interest Income	25,500	2,125	7,282	5,157	
Total Revenues	$1,298,162	$2,125	$7,282	$	5,157	

Expenditures:					
General & Administrative:					

Supervisor Fees	
$24,000	
$2,000	
$0	
$2,000	
FICA Taxes	1,836	-	153	-	153	
Assessment Roll	-	-	2,000	(2,000)	
Attorney	54,000	4,500	6,078	(1,578)	
Attorney - Special Counsel	20,000	1,667	72	1,595	
Annual Audit	4,400	367	-	367	
Arbitrage Rebate	600	50	-	50	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	66,862	5,572	5,572	0	
Information Technology	1,000	83	83	0	
Website Maintenance	1,000	83	83	0	
Postage & Delivery	750	63	43	20	
Insurance General Liability	12,547	12,547	11,805	742	
Printing & Binding	2,000	167	248	(81)	
Rental & Leases	4,800	400	400	-	
Meeting Room	4,800	400	385	15	
Legal Advertising	1,000	83	-	83	
Other Current Charges	1,000	83	20	63	
Office Supplies	250	21	0	21	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	4,500	375	231	144	
Total General & Administrative	$212,520	$	35,789	$	34,195	$1,593	

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/23	Thru 10/31/23	Variance	

Operations & Maintenance		
Special Pay	$1,000	$83	$	-	$83	
Field Management	51,500	4,292	4,292	(0)	
Video Monitoring	3,000	250	226	24	
Internet/Data	3,000	250	-	250	
Electric	110,000	9,167	7,604	1,563	
Water	9,000	750	-	750	
Insurance	53,412	53,412	48,272	5,140	
Weed Control	31,782	2,649	2,605	43	
Culvert Inspection	15,000	1,250	-	1,250	
Holiday Lighting	71,406	5,951	-	5,951	
Iguana Removal	7,500	625	-	625	
Landscape Maintenance	346,227	28,852	28,012	840	
Pest Control/Fertilization	48,300	4,025	4,225	(200)	
Landscape Replacement	64,519	5,377	-	5,377	
Annual Tree Trimming	39,000	3,250	-	3,250	
Fountain Maintenance	3,420	285	741	(456)	
Fountain Repairs	7,500	625	-	625	
Irrigation Repairs/Maintenance	23,000	1,917	-	1,917	
Pressure Cleaning	37,070	25,410	25,410	-	
Contingencies	18,096	1,508	4,445	(2,937)	
Paver Repairs	10,000	833	-	833	
Lighting/Electrical Repairs	20,000	1,667	5,230	(3,563)	
RPM Replacements	4,500	375	-	375	
Rust Preventative TR Park	4,410	368	368	-	
Flags	3,000	250	-	250	
Subtotal Field Expenditures	$985,642	$	153,419	$	131,429	$	21,989	

Special Project Expenditures					
Capital Projects Transfer Out	$100,000	$8,333	$0	$8,333	
Subtotal Special Project Expenditures	$100,000	$8,333	$0	$8,333	
					
Total Operations & Maintenance	$1,085,642	$161,752	$131,429	$30,323	
					
Total Expenditures	$1,298,162	$197,541	$165,624	$31,916	
					
Excess (Deficiency) of Revenues over Expenditures	$0	($195,416)	($158,343)	$37,073	
					
Net Change in Fund Balance	$0	($195,416)	($158,343)	$37,073	
					
Fund Balance - Beginning			$	1,740,756		
					
Fund Balance - Ending			$	1,582,413		

Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended October 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/23	Thru 10/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll Interest Income	$	445,623
-	$	-	$	-
-	2,118	$	-
2,118	
Total Revenues	$	445,623	$	-	$	2,118	$	2,118	

Expenditures:					
Series 2017-1
Interest - 11/1	
$	48,529	
$	
-	$	-	
$	-	
Interest - 5/1	48,529		-	-	-	
Principal - 5/1	85,000		-	-	-	

Series 2017-2
Interest - 11/1	

87,975		

-	-	

-	
Interest - 5/1	87,975		-	-	-	
Principal - 5/1	85,000		-	-	-	
Total Expenditures	$	443,009	$	-	$	-	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,614	$	-	$	2,118	$	2,118	

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	2,614	$	-	$	2,118	$	2,118	
					
Fund Balance - Beginning			$	514,820		
					
Fund Balance - Ending			$	516,938		

Capital Project Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended October 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/23	Thru 10/31/23	Variance	

Revenues		
Interest	$500	$42	$2,246	$2,204	
Total Revenues	$500	$42	$2,246	$2,204	

Expenditures:					
Bank Service Charges	$0	$0	$10	($10)	
Other Maintenance	-	-	1,220	(1,220)	
Retaining Wall	-	-	4,125	(4,125)	
Cypress Pointe Flagpole Improvements	-	-	6,700	(6,700)	
Resurface/Retile Fountain	-	-	5,730	(5,730)	
Total Expenditures	$0	$0	$17,785	($17,785)	
					
Excess (Deficiency) of Revenues over Expenditures	$500	$42	($15,539)	$19,989	

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	100,000	$	14,286	$	-	$	(14,286)	
Total Other Financing Sources (Uses)	$	100,000	$	14,286	$	-	$	(14,286)	
					
Net Change in Fund Balance			$	(15,539)		
					
Fund Balance - Beginning			$	621,741		
					
Fund Balance - Ending			$	606,202		

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

Revenues:

Special Assessments - Tax Roll	$	-	$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	
Interest Income	7,282	-	-	-	-	-	-	-	-	-	-	-	7,282	
Insurance Proceeds	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Income	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Revenues	$	7,282  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,282	

Expenditures:

General & Administrative:

Supervisor Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
FICA Taxes	-	-	-	-	-	-	-	-	-	-	-	-	-	
Engineering	-	-	-	-	-	-	-	-	-	-	-	-	-	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	6,078	-	-	-	-	-	-	-	-	-	-	-	6,078	
Attorney - Special Counsel	72	-	-	-	-	-	-	-	-	-	-	-	72	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Arbitrage Rebate	-	-	-	-	-	-	-	-	-	-	-	-	-	
Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	5,572	-	-	-	-	-	-	-	-	-	-	-	5,572	
Information Technology	83	-	-	-	-	-	-	-	-	-	-	-	83	
Website Maintenance	83	-	-	-	-	-	-	-	-	-	-	-	83	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	43	-	-	-	-	-	-	-	-	-	-	-	43	
Insurance General Liability	11,805	-	11,805	
Printing & Binding	248	-	-	-	-	-	-	-	-	-	-	-	248	
Rental & Leases	400	-	-	-	-	-	-	-	-	-	-	-	400	
Meeting Room	385	-	-	-	-	-	-	-	-	-	-	-	385	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Current Charges	20	-	-	-	-	-	-	-	-	-	-	-	20	
Office Supplies	0	-	-	-	-	-	-	-	-	-	-	-	0	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	231	-	-	-	-	-	-	-	-	-	-	-	231	
Total General & Administrative	$  34,195	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  34,195	

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

Operations & Maintenance													
Field Expenditures
Special Pay	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	
$	-	$	-	

Field Management	4,292	-	-	-	-	-	-	-	-	-	-	-	4,292	
Video Monitoring	226	-	-	-	-	-	-	-	-	-	-	-	226	
Internet/Data	-	-	-	-	-	-	-	-	-	-	-	-	-	
Electric	7,604	-	-	-	-	-	-	-	-	-	-	-	7,604	
Water	-	-	-	-	-	-	-	-	-	-	-	-	-	
Insurance	48,272	-	48,272	
Weed Control	2,605	-	-	-	-	-	-	-	-	-	-	-	2,605	
Culvert Inspection	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Lighting	-	-	-	-	-	-	-	-	-	-	-	-	-	
Iguana Removal	-	-	-	-	-	-	-	-	-	-	-	-	-	
Landscape Maintenance	28,012	-	28,012	
Pest Control/Fertilization	4,225	-	-	-	-	-	-	-	-	-	-	-	4,225	
Landscape Replacement	-	-	-	-	-	-	-	-	-	-	-	-	-	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	741	-	-	-	-	-	-	-	-	-	-	-	741	
Fountain Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repairs/Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Pressure Cleaning	25,410	-	25,410	
Contingencies	4,445	-	-	-	-	-	-	-	-	-	-	-	4,445	
Paver Repairs	-	-	-	-	-	-	-	-	-	-	-	-	-	
Lighting/Electrical Repairs	5,230	-	-	-	-	-	-	-	-	-	-	-	5,230	
RPM Replacements	-	-	-	-	-	-	-	-	-	-	-	-	-	
Rust Preventative TR Park	368	-	-	-	-	-	-	-	-	-	-	-	368	
Gas/Oil/Misc	-	-	-	-	-	-	-	-	-	-	-	-	-	
Holiday Decorations	-	-	-	-	-	-	-	-	-	-	-	-	-	
Flags	-	-	-	-	-	-	-	-	-	-	-	-	-	
Subtotal Field Expenditures	$ 131,429	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 131,429	

Special Project Expenditures
Capital Projects Transfer Out	

$	-	

$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Subtotal Special Project Expenditures	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
			
Total Operations & Maintenance	$ 131,429	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 131,429	
			
Total Expenditures	$ 165,624	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ 165,624	
			
Excess (Deficiency) of Revenues over Expenditures	$ (158,343)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (158,343)	
			
Net Change in Fund Balance	$ (158,343)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $ (158,343)	

Turtle Run
Community Development District Long Term Debt Report	
Series 2017-1, Special Assessment Bonds	

Interest Rate:	
2.000%		
Maturity Date:	5/1/21	$80,000.00	
Interest Rate:	2.000%		
Maturity Date:	5/1/22	$85,000.00	
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:	
50% Maximum Annual Debt Service		
Reserve Requirement:	$92,742.50		
Reserve Balance:	$97,557.23		
Bonds outstanding - 9/30/2023		$3,025,000.00	
	May 1, 2024 (Mandatory)	-	
Current Bonds Outstanding		$3,025,000.00	

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:	
50% Maximum Annual Debt Service		
Reserve Requirement:	$129,937.50		
Reserve Balance:	$136,683.20		
Bonds outstanding - 9/30/2023		$3,610,000.00	
	May 1, 2024 (Mandatory)	-	
Current Bonds Outstanding		$3,610,000.00	
	
Total Current Bonds Outstanding		$6,635,000.00