Turtle Run
Community Development District

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

Assets:
Cash:
Operating Account	

$	69,309	

$	-	

$	24,721	

$	94,030	
Due from General Fund	-	18,784	-	18,784	
Investments:
State Board of Administration - Operating Reserves	

452,155	

-	

-	

452,155	
State Board of Administration - Emergency Reserves	5,737	-	-	5,737	
State Board of Administration - Capital Reserves	-	-	1,964	1,964	
Bank United - Operating Reserves	975,544	-	-	975,544	
Bank United - Emergency Reserves	559,462	-	-	559,462	
Bank United - Capital Reserves	-	-	338,858	338,858	
Series 2017-1 Reserve	

-	

106,533	

-	

106,533	
Revenue	-	124,503	-	124,503	
Interest	-	6	-	6	
Principal	-	12	-	12	
Prepayment	-	8,907	-	8,907	
Series 2017-2 Reserve	

-	

149,259	

-	

149,259	
Revenue	-	185,199	-	185,199	
Interest	-	10	-	10	
Sinking	-	11	-	11	
Deposits	840	-	-	840	
Total Assets	$	2,063,046	$	593,223	$	365,543	$	3,021,812	

Liabilities:					
Accounts Payable	$	28,785	$	-	$	11,008	$	39,792	
Due to Debt Service	18,784	-	-	18,784	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	61,069	$	-	$	11,008	$	72,076	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:					
Debt Service	-	593,223	-	593,223	
Capital Project Reserve Fund	-	-	354,535	354,535	
Emergency Fund	565,199	-	-	565,199	
Unassigned	1,435,938	-	-	1,435,938	
Total Fund Balances	$	2,001,977	$	593,223	$	354,535	$	2,949,736	
					
Total Liabilities & Fund Balance	$	2,063,046	$	593,223	$	365,543	$	3,021,812	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,291,743	$	19,081	
Interest Income	95,000	87,083	80,751	(6,332)	
Other Income	-	-	100	100	
Total Revenues	$	1,367,662	$	1,359,745	$	1,388,270	$	28,525	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	22,000	$	10,200	$	11,800	
FICA Taxes	1,836	1,683	780	903	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	59,583	52,856	6,727	
Attorney - Special Counsel	50,000	45,833	15,021	30,812	
Annual Audit	3,800	3,800	3,800	-	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	68,868	63,129	63,129	(0)	
Information Technology	1,000	917	917	0	
Website Maintenance	1,000	917	917	0	
Postage & Delivery	750	688	553	135	
Insurance General Liability	13,755	13,755	12,631	1,124	
Printing & Binding	2,000	1,833	408	1,425	
Rental & Leases	4,800	4,400	4,400	-	
Meeting Room	1,200	1,100	900	200	
Legal Advertising	1,500	1,375	1,102	273	
Other Current Charges	1,250	1,146	1,425	(279)	
Office Supplies	250	229	2	227	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	2,750	1,989	761	
Total General & Administrative	$	253,784	$	234,913	$	180,805	$	54,108	

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

Operations & Maintenance		
Special Pay	$	1,500	$	1,500	$	1,500	$	-	
Field Management	80,000	73,333	73,333		(0)	
Video Monitoring	3,000	2,750	2,491		259	
Internet/Data	3,000	2,750	1,396		1,355	
Electric	112,898	103,490	93,393		10,097	
Water	11,000	10,083	12,968		(2,885)	
Insurance	54,547	54,547	48,802		5,745	
Weed Control	33,132	30,371	27,599		2,772	
Culvert Inspection	15,000	13,750	8,250		5,500	
Holiday Lighting/Decorations	77,000	77,000	77,647		(647)	
Iguana Removal	7,500	6,875	5,150		1,725	
Landscape Maintenance	356,614	326,897	330,857		(3,960)	
Pest Control/Fertilization	48,300	44,275	45,375		(1,100)	
Landscape Replacement	68,569	62,855	88,909		(26,054)	
Annual Tree Trimming	39,000	35,750	-		35,750	
Fountain Maintenance	4,000	3,667	3,215		452	
Fountain Repairs and Maintenance	7,500	6,875	4,953		1,922	
Irrigation Repairs/Maintenance	32,000	29,333	27,687		1,647	
Pressure Cleaning	37,070	37,070	36,450		620	
Contingencies	20,000	18,333	19,462		(1,129)	
Paver Repairs	10,000	10,000	13,224		(3,224)	
Lighting/Electrical Repairs	30,000	27,500	15,668		11,832	
RPM Replacements	4,500	4,500	8,640		(4,140)	
Rust Preventative TR Park	4,748	4,352	3,858		494	
Flags	3,000	2,750	5,149		(2,399)	
Total Operations & Maintenance	$	1,063,878	$	990,606	$	955,976	$	34,631	
						
Total Expenditures	$	1,317,662	$	1,225,519	$	1,136,780	$	88,739	
						
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	134,226	$	251,490	$	117,263	

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)	$	84,226	$	201,490	$	117,263	
					
Fund Balance - Beginning			$	1,800,488		
					
Fund Balance - Ending			$	2,001,977		

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

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	451,615	$	5,992	
Interest Income	-	-	24,091	24,091	
Prepayments	-	-	5,260	(5,260)	
Total Revenues	$	445,623	$	445,623	$	480,965	$	24,822	

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	$	38,269	$	24,822	
					
Fund Balance - Beginning			$	554,954		
					
Fund Balance - Ending			$	593,223		

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

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

Revenues		
Interest	$	500	$	458	$	16,758	$	16,299	
Total Revenues	$	500	$	458	$	16,758	$	16,299	

Expenditures:					
Bank Service Charges	$	-	$	-	$	981	$	(981)	
Engineering Fees	-	-	120,663	(120,663)	
Lights	-	-	5,600	(5,600)	
Flag Pole Project	-	-	37,528	(37,528)	
Fountain Equipment Replacement	-	-	9,293	(9,293)	
Signs	-	-	6,504	(6,504)	
Total Expenditures	$	-	$	-	$	180,568	$	(180,568)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	458	$	(163,810)	$	(164,269)	

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	$	50,458	$	(113,810)	$	(164,269)	
					
Fund Balance - Beginning			$	468,346		
					
Fund Balance - Ending			$	354,535		

	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	7,148	-	80,751	
Insurance Proceeds	-	-	-	-	-	-	-	-	-	-	15,676	-	15,676	
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	$  22,824	$	-	$ 1,388,270	

Expenditures:								
General & Administrative:								
Supervisor Fees	$	2,000	$	-	$	1,000  $	-	$	1,800  $	800  $	1,000  $	1,000  $	1,000  $	800	$	800	$	-	$  10,200	
FICA Taxes	153	-	77	-	138	61	77	77	77	61	61	-	780	
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	4,348	-	-	52,856	
Attorney - Special Counsel	-	903	280	1,190	1,940	420	1,368	3,995	2,839	2,087	-	-	15,021	
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	5,739	-	63,129	
Information Technology	83	83	83	83	83	83	83	83	83	83	83	-	917	
Website Maintenance	83	83	83	83	83	83	83	83	83	83	83	-	917	
Postage & Delivery	37	40	74	47	16	159	45	15	53	45	22	-	553	
Insurance General Liability	12,631	-	-	-	-	-	-	-	-	-	-	-	12,631	
Printing & Binding	17	7	30	56	33	47	30	87	76	23	2	-	408	
Rental & Leases	400	400	400	400	400	400	400	400	400	400	400	-	4,400	
Meeting Room	100	100	-	100	100	100	100	100	100	100	-	-	900	
Legal Advertising	-	-	-	-	-	-	147	156	648	151	-	-	1,102	
Other Current Charges	183	114	101	101	101	101	101	162	125	141	198	-	1,425	
Office Supplies	-	2	-	-	-	-	-	-	0	0	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	234	234	234	234	117	-	234	234	-	234	234	-	1,989	
Total General & Administrative	$  36,637	$  11,472	$  11,340  $  15,898	$  17,233  $  13,713  $  15,469  $  19,858  $  17,266  $  14,296	$	7,623	$	-	$ 180,805	

	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	6,667	-	73,333	
Video Monitoring	226	226	226	226	226	226	226	226	226	226	226	-	2,491	
Internet/Data	138	148	138	138	138	138	138	148	138	138	-	-	1,396	
Electric	7,424	7,690	8,320	9,062	8,850	8,608	8,183	8,450	8,910	8,969	8,926	-	93,393	
Water	122	437	941	898	868	1,022	855	1,035	1,129	5,661	-	-	12,968	
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	2,750	-	-	27,599	
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	625	-	-	-	-	5,150	
Landscape Maintenance	29,718	29,718	29,718	30,510	30,510	30,510	30,510	30,510	29,718	29,718	29,718	-	330,857	
Pest Control/Fertilization	4,300	4,025	4,025	4,025	4,025	4,025	4,025	4,025	4,025	4,500	4,375	-	45,375	
Landscape Replacement	7,366	3,674	2,477	9,410	4,369	2,100	40,456	5,262	1,656	8,827	3,312	-	88,909	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	285	285	285	295	295	295	295	295	295	295	295	-	3,215	
Fountain Repairs and Maintenance	600	1,186	-	1,206	-	814	-	175	350	624	-	-	4,953	
Irrigation Repairs/Maintenance	-	788	788	788	4,246	4,928	2,852	2,852	6,391	921	3,133	-	27,687	
Pressure Cleaning	-	36,450	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	3,654	139	4,259	5,158	347	5	136	-	647	205	4,911	-	19,462	
Paver Repairs	-	4,300	-	-	-	7,384	-	-	-	890	650	-	13,224	
Lighting/Electrical Repairs	1,502	1,038	3,726	1,051	1,025	1,572	1,668	-	-	492	3,595	-	15,668	
RPM Replacements	-	-	-	-	-	8,640	-	-	-	-	-	-	8,640	
Rust Preventative TR Park	386	386	386	386	386	386	386	386	386	385	-	-	3,858	
Flags	-	-	650	-	-	-	4,499	-	-	-	-	-	5,149	
Total Operations & Maintenance	$ 115,151	$ 140,827	$ 102,778	$  74,006	$  68,188	$  80,705	$ 104,283	$  63,415	$  69,548	$  71,266	$  65,807	$	-  $ 955,976	
													
Total Expenditures	$ 151,788	$ 152,299	$ 114,119	$  89,904	$  85,421	$  94,418	$ 119,752	$  83,274	$  86,814	$  85,562	$  73,429	$	-  $ 1,136,780	
													
Excess (Deficiency) of Revenues over Expenditures	$ (145,276)	$  56,357	$ 899,006	$ (63,402)	$ (69,622)	$ (76,245)	$ (91,400)	$ (61,441)	$ (75,262)	$ (70,620)	$ (50,605)	$	-  $ 251,490	

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) $ (61,441) $ (75,262) $ (70,620) $ (50,605) $	-  $ 201,490

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