Turtle Run
Community Development District

Unaudited Financial Reporting
December 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	

9	
	Assessment Receipt Schedule	

Community Development District Combined Balance Sheet December 31, 2023

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

Assets:
Operating Account	

$	1,057,843	

$	-	

$	34,928	

$	1,092,771	
Due from General Fund	-	9,393	-	9,393	
Investments:
State Board of Administration - Operating Reserves	

51,541	

-	

-	

51,541	
State Board of Administration - Emergency Reserves	5,279	-	-	5,279	
State Board of Administration - Capital Reserves	-	-	17,354	17,354	
Bank United - Operating Reserves	1,019,969	-	-	1,019,969	
Bank United - Emergency Reserves	520,095	-	-	520,095	
Bank United - Capital Reserves	-	-	509,894	509,894	
Series 2017-1 Reserve	

-	

98,412	

-	

98,412	
Revenue	-	231,138	-	231,138	
Interest	-	148	-	148	
Principal	-	306	-	306	
Prepayment	-	3,348	-	3,348	
Series 2017-2 Reserve	

-	

137,881	

-	

137,881	
Revenue	-	326,805	-	326,805	
Interest	-	268	-	268	
Sinking	-	288	-	288	
Deposits	840	-	-	840	
Total Assets	$	2,655,567	$	807,987	$	562,176	$	4,025,730	

Liabilities:					
Accounts Payable	$	30,469	$	-	$	22,027	$	52,497	
Due to Debt Service	9,393	-	-	9,393	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	53,363	$	-	$	22,027	$	75,390	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	

$	840	
Restricted for:
Debt Service - Series	
-	
807,987	
-	
807,987	
Assigned for:
Capital Project Reserve Fund	
-	
-	
540,149	
540,149	
Emergency Fund	510,000	-	-	510,000	
Unassigned	2,091,364	-	-	2,091,364	
Total Fund Balances	$	2,602,204	$	807,987	$	540,149	$	3,950,340	
					
Total Liabilities & Fund Balance	$	2,655,567	$	807,987	$	562,176	$	4,025,730	

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	509,065	$	1,208,620	$	699,555	
Interest Income	25,500	6,375	20,721	14,346	
Total Revenues	$	1,298,162	$	515,440	$	1,229,341	$	713,902	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	6,000	$	2,600	$	3,400	
FICA Taxes	1,836	-	459	230	230	
Assessment Roll	-	-	2,000	(2,000)	
Attorney	54,000	13,500	13,225	275	
Attorney - Special Counsel	20,000	5,000	1,420	3,581	
Annual Audit	4,400	1,100	-	1,100	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	66,862	16,716	16,715	0	
Information Technology	1,000	250	250	0	
Website Maintenance	1,000	250	250	0	
Postage & Delivery	750	188	187	1	
Insurance General Liability	12,547	12,547	11,805	742	
Printing & Binding	2,000	500	530	(30)	
Rental & Leases	4,800	1,200	1,200	-	
Meeting Room	4,800	1,200	385	815	
Legal Advertising	1,000	250	142	108	
Other Current Charges	1,000	250	254	(4)	
Office Supplies	250	63	2	61	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	4,500	1,125	396	729	
Total General & Administrative	$	212,520	$	68,372	$	59,365	$	9,006	

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Operations & Maintenance		
Special Pay	$	1,000	$	1,000	$	1,500	$	(500)	
Field Management	51,500	12,875	12,875	(0)	
Video Monitoring	3,000	750	679	71	
Internet/Data	3,000	750	229	521	
Electric	110,000	27,500	28,868	(1,368)	
Water	9,000	2,250	1,750	500	
Insurance	53,412	53,412	48,272	5,140	
Weed Control	31,782	7,946	7,815	130	
Culvert Inspection	15,000	3,750	-	3,750	
Holiday Lighting/Decorations	71,406	35,703	38,628	(2,925)	
Iguana Removal	7,500	1,875	625	1,250	
Landscape Maintenance	346,227	86,557	84,036	2,521	
Pest Control/Fertilization	48,300	12,075	12,275	(200)	
Landscape Replacement	64,519	16,130	15,769	361	
Annual Tree Trimming	39,000	9,750	-	9,750	
Fountain Maintenance	3,420	855	1,026	(171)	
Fountain Repairs	7,500	1,875	210	1,665	
Irrigation Repairs/Maintenance	23,000	5,750	9,540	(3,790)	
Pressure Cleaning	37,070	9,268	25,410	(16,143)	
Contingencies	18,096	4,524	5,794	(1,270)	
Paver Repairs	10,000	2,500	3,500	(1,000)	
Lighting/Electrical Repairs	20,000	5,000	6,644	(1,644)	
RPM Replacements	4,500	1,125	-	1,125	
Rust Preventative TR Park	4,410	1,103	735	368	
Flags	3,000	750	374	376	
Subtotal Field Expenditures	$	985,642	$	305,071	$	306,554	$	(1,483)	

Special Project Expenditures					
Capital Projects Transfer Out	$	100,000	$	25,000	$	-	$	25,000	
Subtotal Special Project Expenditures	$	100,000	$	25,000	$	-	$	25,000	
					
Total Operations & Maintenance	$	1,085,642	$	330,071	$	306,554	$	23,517	
					
Total Expenditures	$	1,298,162	$	398,443	$	365,919	$	32,524	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	116,997	$863,423	$	746,425	
					
Net Change in Fund Balance	$	-	$	116,997	$	863,423	$	746,425	
					
Fund Balance - Beginning			$	1,738,782		
					
Fund Balance - Ending			$	2,602,204		

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

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	178,249	$	423,506	$	245,257	
Interest Income	-	-	6,061	6,061	
Total Revenues	$	445,623	$	178,249	$429,568	$	251,319	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	48,529	

$	48,529	

$	48,529	

$	-	
Interest - 5/1	48,529	-	-	-	
Principal - 5/1	85,000	-	-	-	
Series 2017-2
Interest - 11/1	

87,975	

87,975	

87,975	

-	
Interest - 5/1	87,975	-	-	-	
Principal - 5/1	85,000	-	-	-	
Total Expenditures	$	443,009	$	136,504	$	136,504	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,614	$	41,745	$293,063	$	251,319	

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	2,614	$	41,745	$	293,063	$	251,319	
					
Fund Balance - Beginning			$	514,924		
					
Fund Balance - Ending			$	807,987		

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues		
Interest	$	500	$	125	$	6,670	$	6,545	
Total Revenues	$	500	$	125	$6,670	$	6,545	

Expenditures:					
Bank Service Charges	$	-	$	-	$	110	$	(110)	
Engineering Fees	-	-	15,465	(15,465)	
Brightview - Landscape Improvements at Monuments	-	-	8,266	(8,266)	
Lightworks - Signposts	-	-	11,501	(11,501)	
Retaining Wall	-	-	4,875	(4,875)	
Cypress Pointe Flagpole Improvements	-	-	8,381	(8,381)	
Resurface/Retile Fountain	-	-	19,450	(19,450)	
Fountain Repairs	-	-	10,265	(10,265)	
Fountain Equipment Replacement	-	-	8,730	(8,730)	
Other Maintenance	-	-	1,220	(1,220)	
Total Expenditures	$	-	$	-	$	88,262	$	(88,262)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	125	($81,593)	$	(81,718)	

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	100,000	$	42,857	$	-	$	(42,857)	
Total Other Financing Sources (Uses)	$	100,000	$	42,857	$	-	$	(42,857)	
					
Net Change in Fund Balance	$	100,500	$	42,982	$	(81,593)	$	(124,575)	
					
Fund Balance - Beginning			$	621,741		
					
Fund Balance - Ending			$	540,149		

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

Revenues:

Special Assessments - Tax Roll	$	-	$ 134,004  $ 1,074,616  $	-
Interest Income	7,282	6,617	6,823	-	$	-
-	$	-	$	-
-	-	$	-
-	$	-
-	$	-
-	$	-	$	-	########
-	-	20,721	
Insurance Proceeds	-	-	-	-	-	-	-	-	-	-	-	-	-	
Other Income	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Revenues	$	7,282  $ 140,621  $ 1,081,439  $	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	########	

Expenditures:

General & Administrative:

Supervisor Fees	$	-	$	1,000	$	1,600	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	2,600	
FICA Taxes	-	77	153	-	-	-	-	-	-	-	-	-	230	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	6,078	7,148	-	-	13,225	
Attorney - Special Counsel	72	1,348	-	-	-	-	-	-	-	-	-	-	1,420	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
Arbitrage Rebate	-	600	-	-	-	-	-	-	-	-	-	-	600	
Trustee Fees	7,000	-	-	-	-	-	-	-	-	-	-	-	7,000	
Management Fees	5,572	5,572	5,572	-	16,715	
Information Technology	83	83	83	-	-	-	-	-	-	-	-	-	250	
Website Maintenance	83	83	83	-	-	-	-	-	-	-	-	-	250	
Postage & Delivery	43	44	100	-	-	-	-	-	-	-	-	-	187	
Insurance General Liability	11,805	-	-	-	11,805	
Printing & Binding	248	164	118	-	-	-	-	-	-	-	-	-	530	
Rental & Leases	400	400	400	-	-	-	-	-	-	-	-	-	1,200	
Meeting Room	385	-	-	-	-	-	-	-	-	-	-	-	385	
Legal Advertising	-	142	-	-	-	-	-	-	-	-	-	-	142	
Other Current Charges	20	134	100	-	-	-	-	-	-	-	-	-	254	
Office Supplies	0	0	1	-	-	-	-	-	-	-	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Security	231	165	-	-	-	-	-	-	-	-	-	-	396	
Total General & Administrative	$  34,195	$  16,959	$	8,212	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  59,365	

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

Operations & Maintenance

Field Expenditures
Special Pay

$	-	$

-	$	1,500  $

-	$	-	$	-	$

-	$	-	$

-	$	-	$	-	$

-	$	1,500

Field Management	4,292	
Video Monitoring	226	
Internet/Data	-	
Electric	7,604	
Water	863	
Insurance	48,272	
Weed Control	2,605	
Culvert Inspection	-	
Holiday Lighting/Decorations	-	
Iguana Removal	-	
Landscape Maintenance	28,012	
Pest Control/Fertilization	4,225	
Landscape Replacement	2,114	
Annual Tree Trimming	-	
Fountain Maintenance	741	
Fountain Repairs	210	
Irrigation Repairs/Maintenance	3,398	
Pressure Cleaning	25,410	
Contingencies	4,445	
Paver Repairs	-	
Lighting/Electrical Repairs	5,230	
RPM Replacements	-	
Rust Preventative TR Park	368	
Flags	-	

4,292	4,292	-	-	-	-	-	-	-	-	-	12,875
226	226	-	-	-	-	-	-	-	-	-	679
107	122	-	-	-	-	-	-	-	-	-	229
13,387	7,877	-	-	-	-	-	-	-	-	-	28,868
887	-	-	-	-	-	-	-	-	-	-	1,750
-	-	-	-	-	-	-	-	-	-	-	48,272
2,605	2,605	-	-	-	-	-	-	-	-	-	7,815
-	-	-	-	-	-	-	-	-	-	-	-
37,313	1,315	-	-	-	-	-	-	-	-	-	38,628
625	-	-	-	-	-	-	-	-	-	-	625
28,012	28,012	-	-	-	-	-	-	-	-	-	84,036
4,025	4,025	-	-	-	-	-	-	-	-	-	12,275
11,535	2,121	-	-	-	-	-	-	-	-	-	15,769
-	-	-	-	-	-	-	-	-	-	-	-
285	-	-	-	-	-	-	-	-	-	-	1,026
-	-	-	-	-	-	-	-	-	-	-	210
2,450	3,691	-	-	-	-	-	-	-	-	-	9,540
-	-	-	-	-	-	-	-	-	-	-	25,410
1,349	-	-	-	-	-	-	-	-	-	-	5,794
3,500	-	-	-	-	-	-	-	-	-	-	3,500
794	620	-	-	-	-	-	-	-	-	-	6,644
-	-	-	-	-	-	-	-	-	-	-	-
368	-	-	-	-	-	-	-	-	-	-	735
-	374	-	-	-	-	-	-	-	-	-	374

Subtotal Field Expenditures	$ 138,014	$ 111,759	$  56,780	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 306,554	

Special Project Expenditures
Capital Projects Transfer Out	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	$	-	

$	-	

$	-	

$	-	

$	-	$	-	

$	-	
Subtotal Special Project Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	

Total Operations & Maintenance	$ 138,014	$ 111,759	$  56,780	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$ 306,554	
						
Total Expenditures	$ 172,210	$ 128,717	$  64,992	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$ 365,919	
						
Excess (Deficiency) of Revenues over Expenditures	$ (164,928)	$  11,904	$ 1,016,447	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$ 863,423	
						
Net Change in Fund Balance	$ (164,928)	$  11,904	$ 1,016,447	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	$ 863,423	

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 - 9/30/2023		
$3,025,000	
	May 1, 2024 (Mandatory)	$0	
Current Bonds Outstanding		$3,025,000	

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 - 9/30/2023		
$3,610,000	
	May 1, 2024 (Mandatory)	$0	
Current Bonds Outstanding		$3,610,000	
	
Total Current Bonds Outstanding		$6,635,000	

Turtle Run
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Broward County

TOTAL ASSESSMENT LEVY (RU) 2017-1	Gross Assessments	$
ON ROLL ASSESSMENTS

589,026.13  $

197,135.21  $

786,161.34

Allocation in %	74.92%	25.08%	100.00%
Date	Distribution	Gross Amount	Discount/  (Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/23	
11/1/23-11/15/23	
$	98,363.21	
$	3,950.28	
$	944.13	
$	-	
$	93,468.80	
$	70,030.87	
$	23,437.93	
$	93,468.80	
12/08/23	11/1/23-11/30/23	552,971.91	22,118.99	5,308.54	-	525,544.38	393,760.61	131,783.77	525,544.38	
12/15/23	12/1/23-12/8/23	26,064.33	953.16	251.10	-	24,860.07	18,626.24	6,233.83	24,860.07	
12/20/23	PROP APPRAISER	-	-	778.48	-	(778.48)	(583.27)	(195.21)	(778.48)	
12/28/23	12/9/23-12/20/23	15,243.91	493.31	147.51	-	14,603.09	10,941.27	3,661.82	14,603.09	
	TOTAL	$	692,643.36	$	27,515.74	$	7,429.76	$	-	$	657,697.86	$	492,775.72	$	164,922.14	$	657,697.86	

$

88.10%
93,517.98

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	

12/08/23	
11/1/23-11/30/23	
$	379,752.61	
$	15,190.11	
$	3,645.63	
$	-	
$	360,916.87	
$	263,746.50	
$	97,170.37	
$	360,916.87	
12/20/23	PROP APPRAISER	-	-	376.04	-	(376.04)	(274.80)	(101.24)	(376.04)	
	TOTAL	$	379,752.61	$	15,190.11	$	4,021.67	$	-	$	360,540.83	$	263,471.70	$	97,069.13	$	360,540.83	

$

100.00%
-

Percent Collected
Balance Remaining to Collect

TOTAL ASSESSMENT LEVY (RN) 2017-2	Gross Assessments	$
ON ROLL ASSESSMENTS

489,275.22  $

174,690.68  $

663,965.90

Allocation in %	73.69%	26.31%	100.00%
Date	Distribution	Gross Amount	Discount/  (Penalty)	Commission	Interest	Net Receipts	O&M Portion	Debt Service	Total	

11/22/23	
11/1/23-11/15/23	
$	91,345.46	
$	3,653.81	
$	876.92	
$	-	
$	86,814.73	
$	63,973.61	
$	22,841.12	
$	86,814.73	
12/08/23	11/1/23-11/30/23	185,051.28	7,402.05	1,776.49	-	175,872.74	129,600.29	46,272.45	175,872.74	
12/15/23	12/1/23-12/8/23	347,915.29	13,916.61	3,339.99	-	330,658.69	243,661.77	86,996.92	330,658.69	
12/20/23	PROP APPRAISER	-	-	657.48	-	(657.48)	(484.50)	(172.98)	(657.48)	
12/28/23	12/9/23-12/20/23	22,305.29	892.22	214.13	-	21,198.94	15,621.46	5,577.48	21,198.94	
	TOTAL	$	646,617.32	$	25,864.69	$	6,865.01	$	-	$	613,887.62	$	452,372.63	$	161,514.99	$	613,887.62	

97.39%	Percent Collected	
$	17,348.58	Balance Remaining to Collect	
		
93.94%	Total Percent Collected	
$	110,866.56	Total Balance Remaining to Collect