Turtle Run
Community Development District

Unaudited Financial Reporting
April 30, 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 April 30, 2025		
	General Fund	Debt Service Fund	Capital Project Reserve Fund	Totals Governmental Funds	

Assets:
Cash:
Operating Account	

$	68,398	

$	-	

$	5,742	

$	74,140	
Due from General Fund	-	10,012	-	10,012	
Investments:
State Board of Administration - Operating Reserves	

743,132	

-	

-	

743,132	
State Board of Administration - Emergency Reserves	5,652	-	-	5,652	
State Board of Administration - Capital Reserves	-	-	7,924	7,924	
Bank United - Operating Reserves	962,707	-	-	962,707	
Bank United - Emergency Reserves	552,184	-	-	552,184	
Bank United - Capital Reserves	-	-	460,274	460,274	
Series 2017-1 Reserve	

-	

105,051	

-	

105,051	
Revenue	-	122,311	-	122,311	
Interest	-	47,573	-	47,573	
Principal	-	90,001	-	90,001	
Prepayment	-	3,573	-	3,573	
Series 2017-2 Reserve	

-	

147,182	

-	

147,182	
Revenue	-	182,050	-	182,050	
Interest	-	86,275	-	86,275	
Sinking	-	85,001	-	85,001	
Deposits	840	-	-	840	
Total Assets	$	2,332,913	$	879,028	$	473,940	$	3,685,881	

Liabilities:					
Accounts Payable	$	4,644	$	-	$	-	$	4,644	
Due to Debt Service	10,012	-	-	10,012	
Deposit/Trash Bonds	13,500	-	-	13,500	
Total Liabilities	$	28,155	$	-	$	-	$	28,155	

Fund Balance:
Nonspendable:
Deposits	$	840	

$	-	$	-	$	840	
Restricted for:					
Debt Service	-	879,028	-	879,028	
Capital Project Reserve Fund	-	-	473,940	473,940	
Emergency Fund	557,836	-	-	557,836	
Unassigned	1,746,082	-	-	1,746,082	
Total Fund Balances	$	2,304,757	$	879,028	$	473,940	$	3,657,725	
					
Total Liabilities & Fund Balance	$	2,332,913	$	879,028	$	473,940	$	3,685,881	

Assigned for:

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	1,272,662	$	1,272,662	$	1,265,893	$	(6,769)	
Interest Income	95,000	55,417	51,127	(4,290)	
Other Income	-	-	100	100	
Total Revenues	$	1,367,662	$	1,328,079	$	1,317,120	$	(10,959)	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	24,000	$	14,000	$	5,600	$	8,400	
FICA Taxes	1,836	1,071	428	643	
Assessment Roll	2,000	2,000	2,000	-	
Attorney	65,000	37,917	32,478	5,439	
Attorney - Special Counsel	50,000	29,167	4,733	24,434	
Annual Audit	3,800	2,217	-	2,217	
Arbitrage Rebate	600	600	600	-	
Trustee Fees	7,000	7,000	7,000	-	
Management Fees	68,868	40,173	40,173	(0)	
Information Technology	1,000	583	583	0	
Website Maintenance	1,000	583	583	0	
Postage & Delivery	750	438	418	20	
Insurance General Liability	13,755	13,755	12,631	1,124	
Printing & Binding	2,000	1,167	220	947	
Rental & Leases	4,800	2,800	2,800	-	
Meeting Room	1,200	700	500	200	
Legal Advertising	1,500	875	147	728	
Other Current Charges	1,250	729	799	(70)	
Office Supplies	250	146	2	144	
Dues, Licenses & Subscriptions	175	175	175	-	
Security	3,000	1,750	1,053	697	
Total General & Administrative	$	253,784	$	157,845	$	112,922	$	44,923	

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

Operations & Maintenance		
Special Pay	$	1,500	$	1,500	$	1,500	$	-	
Field Management	80,000	46,667	46,667		(0)	
Video Monitoring	3,000	1,750	1,585		165	
Internet/Data	3,000	1,750	835		915	
Electric	112,898	65,857	58,138		7,719	
Water	11,000	6,417	4,288		2,129	
Insurance	54,547	54,547	48,802		5,745	
Weed Control	33,132	19,327	19,327		-	
Culvert Inspection	15,000	8,750	2,000		6,750	
Holiday Lighting/Decorations	77,000	77,000	77,647		(647)	
Iguana Removal	7,500	4,375	3,275		1,100	
Landscape Maintenance	356,614	208,025	211,193		(3,168)	
Pest Control/Fertilization	48,300	28,175	28,450		(275)	
Landscape Replacement	68,569	39,999	36,085		3,913	
Annual Tree Trimming	39,000	22,750	-		22,750	
Fountain Maintenance	4,000	2,333	2,035		298	
Fountain Repairs and Maintenance	7,500	4,375	3,805		571	
Irrigation Repairs/Maintenance	32,000	18,667	14,390		4,276	
Pressure Cleaning	37,070	37,070	36,450		620	
Contingencies	20,000	11,667	13,699		(2,033)	
Paver Repairs	10,000	10,000	11,684		(1,684)	
Lighting/Electrical Repairs	30,000	17,500	11,582		5,918	
RPM Replacements	4,500	4,500	8,640		(4,140)	
Rust Preventative TR Park	4,748	2,770	2,701		68	
Flags	3,000	1,750	5,149		(3,399)	
Total Operations & Maintenance	$	1,063,878	$	697,519	$	649,929	$	47,591	
									
Total Expenditures	$	1,317,662	$	855,364	$	762,850	$	92,514	
									
Excess (Deficiency) of Revenues over Expenditures	$	50,000	$	472,715	$	554,270	$	81,555	

Other Financing Sources/(Uses):

Transfer In/(Out)

$	(50,000)	$

(50,000)	$

(50,000)	$	-

Fund Balance - Ending	$	2,304,757

Fund Balance - Beginning	$	1,800,488

Net Change in Fund Balance	$	(0)	$	422,715	$	504,270	$	81,555

Total Other Financing Sources/(Uses)	$	(50,000)	$	(50,000)	$	(50,000)	$	-

Community Development District Debt Service Fund Series 2017
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended April 30, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$	445,623	$	445,623	$	442,842	$	(2,781)	
Interest Income	-	-	15,081	15,081	
Total Revenues	$	445,623	$	445,623	$	457,923	$	12,300	

Expenditures:					
Series 2017-1
Interest - 11/1	

$	47,573	

$	47,573	

$	47,573	

$	(0)	
Interest - 5/1	47,573	-	-	-	
Principal - 5/1	90,000	-	-	-	
Series 2017-2
Interest - 11/1	

86,275	

86,275	

86,275	

-	
Interest - 5/1	86,275	-	-	-	
Principal - 5/1	85,000	-	-	-	
Total Expenditures	$	442,696	$	133,848	$	133,848	$	(0)	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,927	$	311,775	$	324,075	$	12,300	
					
Fund Balance - Beginning			$	554,954		
					
Fund Balance - Ending			$	879,028		

Community Development District Capital Projects Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ended April 30, 2025

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

Revenues		
Interest	$	500	$	292	$	11,119	$	10,827	
Total Revenues	$	500	$	292	$	11,119	$	10,827	

Expenditures:					
Bank Service Charges	$	-	$	-	$	575	$	(575)	
Engineering Fees	-	-	33,553	(33,553)	
Lights	-	-	5,600	(5,600)	
Fountain Equipment Replacement	-	-	9,293	(9,293)	
Signs	-	-	6,504	(6,504)	
Total Expenditures	$	-	$	-	$	55,525	$	(55,525)	
					
Excess (Deficiency) of Revenues over Expenditures	$	500	$	292	$	(44,406)	$	(44,698)	

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	$	50,292	$	5,594	$	(44,698)	
					
Fund Balance - Beginning			$	468,346		
					
Fund Balance - Ending			$	473,940		

	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	$	-	$	-	$	-	$	-	$	-	$ 1,265,893	
Interest Income	6,513	5,575	5,666	8,805	7,956	8,629	7,983	-	-	-	-	-	51,127	
Other Income	-	100	-	-	-	-	-	-	-	-	-	-	100	
Total Revenues	$	6,513	$ 208,656	$ 1,013,125  $  26,501	$  15,799  $  18,173  $  28,353	$	-	$	-	$	-	$	-	$	-	$ 1,317,120	

Expenditures:							
General & Administrative:							

Supervisor Fees	$	2,000	$	-	$	1,000	$	-	$	1,800	$	800	$	-	$	-	$	-	$	-	$	-	$	-	$	5,600	
FICA Taxes	153	-	77	-	138	61	-	-	-	-	-	-	428	
Assessment Roll	2,000	-	-	-	-	-	-	-	-	-	-	-	2,000	
Attorney	5,803	3,768	2,640	7,865	6,683	5,720	-	-	-	-	-	-	32,478	
Attorney - Special Counsel	-	903	280	1,190	1,940	420	-	-	-	-	-	-	4,733	
Annual Audit	-	-	-	-	-	-	-	-	-	-	-	-	-	
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	-	-	-	-	-	40,173	
Information Technology	83	83	83	83	83	83	83	-	-	-	-	-	583	
Website Maintenance	83	83	83	83	83	83	83	-	-	-	-	-	583	
Postage & Delivery	37	40	74	47	16	159	45	-	-	-	-	-	418	
Insurance General Liability	12,631	-	-	-	-	-	-	-	-	-	-	-	12,631	
Printing & Binding	17	7	30	56	33	47	30	-	-	-	-	-	220	
Rental & Leases	400	400	400	400	400	400	400	-	-	-	-	-	2,800	
Meeting Room	100	100	-	100	100	100	-	-	-	-	-	-	500	
Legal Advertising	-	-	-	-	-	-	147	-	-	-	-	-	147	
Other Current Charges	183	114	101	101	101	101	101	-	-	-	-	-	799	
Office Supplies	-	2	-	-	-	-	-	-	-	-	-	-	2	
Dues, Licenses & Subscriptions		175		-		-		-		-		-		-		-			-		-			-			-			175	
Security		234		234		234		234		117		-		-		-			-		-			-			-			1,053	
Total General & Administrative	$	36,637	$	11,472	$	11,340	$	15,898	$	17,233	$	13,713	$	6,629	$		-	$	-	$		-	$		-	$		-	$	112,922	

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	-	-	-	-	-	46,667	
Video Monitoring	226	226	226	226	226	226	226	-	-	-	-	-	1,585	
Internet/Data	138	148	138	138	138	138	-	-	-	-	-	-	835	
Electric	7,424	7,690	8,320	9,062	8,850	8,608	8,183	-	-	-	-	-	58,138	
Water	122	437	941	898	868	1,022	-	-	-	-	-	-	4,288	
Insurance	48,802	-	-	-	-	-	-	-	-	-	-	-	48,802	
Weed Control	2,761	2,761	2,761	2,761	2,761	2,761	2,761	-	-	-	-	-	19,327	
Culvert Inspection	-	-	-	800	1,200	-	-	-	-	-	-	-	2,000	
Holiday Lighting/Decorations	576	40,285	36,787	-	-	-	-	-	-	-	-	-	77,647	
Iguana Removal	625	625	625	625	775	-	-	-	-	-	-	-	3,275	
Landscape Maintenance	29,718	29,718	29,718	30,510	30,510	30,510	30,510	-	-	-	-	-	211,193	
Pest Control/Fertilization	4,300	4,025	4,025	4,025	4,025	4,025	4,025	-	-	-	-	-	28,450	
Landscape Replacement	7,366	3,674	2,477	9,410	2,226	2,143	8,788	-	-	-	-	-	36,085	
Annual Tree Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fountain Maintenance	285	285	285	295	295	295	295	-	-	-	-	-	2,035	
Fountain Repairs and Maintenance	600	1,186	-	1,206	-	814	-	-	-	-	-	-	3,805	
Irrigation Repairs/Maintenance	-	788	788	788	4,246	4,928	2,852	-	-	-	-	-	14,390	
Pressure Cleaning	-	36,450	-	-	-	-	-	-	-	-	-	-	36,450	
Contingencies	3,654	139	4,259	5,158	347	5	136	-	-	-	-	-	13,699	
Paver Repairs	-	4,300	-	-	-	7,384	-	-	-	-	-	-	11,684	
Lighting/Electrical Repairs	1,502	1,038	3,726	1,051	1,025	1,572	1,668	-	-	-	-	-	11,582	
RPM Replacements	-	-	-	-	-	8,640	-	-	-	-	-	-	8,640	
Rust Preventative TR Park	386	386	386	386	386	386	386	-	-	-	-	-	2,701	
Flags	-	-	650	-	-	-	4,499	-	-	-	-	-	5,149	
Total Operations & Maintenance	$ 115,151	$ 140,827	$ 102,778	$  74,006	$  66,046	$  80,123	$  70,997	$	-  $	-  $	-  $	-  $	-  $	649,929	
										
Total Expenditures	$ 151,788	$ 152,299	$ 114,119	$  89,904	$  83,278	$  93,836	$  77,626	$	-  $	-  $	-  $	-  $	-  $	762,850	
										
Excess (Deficiency) of Revenues over Expenditures	$ (145,276)	$  56,357	$ 899,006	$ (63,402)	$ (67,479)	$ (75,663)	$ (49,273)	$	-  $	-  $	-  $	-  $	-  $	554,270	

Other Financing Sources/Uses:										
Transfer In/(Out)	$ (50,000)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(50,000)	
Total Other Financing Sources/Uses	$ (50,000)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	(50,000)	

Net Change in Fund Balance

$ (195,276) $  56,357  $ 899,006  $ (63,402) $ (67,479) $ (75,663) $ (49,273) $

-  $

-  $

-  $

-  $

-  $ 504,270

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)	$0	
Current Bonds Outstanding		$2,940,000	

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)	$0	
Current Bonds Outstanding		$3,525,000	
	
Total Current Bonds Outstanding		$6,465,000	

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	

11/22/24	
11/1/24-11/15/24	
$	94,915.43	
$	3,926.35	
$	909.89	
$	-	
$	90,079.19	
$	67,491.23	
$	22,587.96	
$	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	110,409.51	36,951.84	147,361.35	
12/18/24	12/1/24-12/11/24	427,963.13	17,054.98	4,109.08	-	406,799.07	304,791.48	102,007.59	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	11,773.74	3,940.44	15,714.18	
01/10/25	1/1/25-1/6/25	2,387.08	66.96	23.20	-	2,296.92	1,720.95	575.97	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	13,056.64	4,369.80	17,426.44	
03/14/25	2/1/25-2/28/25	13,003.26	136.40	128.67	-	12,738.19	9,544.00	3,194.19	12,738.19	
04/11/25	3/1/25-3/31/25	26,620.84	9.28	266.12	-	26,345.44	19,739.14	6,606.30	26,345.44	
04/25/25	INTEREST	-	-	-	842.08	842.08	630.92	211.16	842.08	
	TOTAL	$	759,525.26	$	28,434.59	$	8,089.39	$	1,238.17	$	724,239.45	$	542,631.55	$	181,607.90	$	724,239.45	

$

96.61%
26,636.08

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  $

174,690.67  $

663,965.89

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	
$	79,305.79	
$	28,315.32	
$	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	329,207.87	117,540.28	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	
	TOTAL	$	656,530.78	$	26,212.25	$	6,960.67	$	384.73	$	623,742.59	$	459,634.74	$	164,107.85	$	623,742.59	

98.88%	Percent Collected	
$	7,435.11	Balance Remaining to Collect	
		
98.14%	Total Percent Collected	
$	34,071.19	Total Balance Remaining to Collect