Turtle Run
Community Development District

Proposed Budget
Fiscal Year 2027

Table of Contents

1-2		General Fund	

3-5	
	Budget Narrative	

6	
	Operating Reserves Schedule	

7	
	Debt Service Fund Series 2017	

8-9	
	Series 2017 Amortization Schedule	

10	
	Non-Ad Valorem Assessments Comparison	

Proposed Budget General Fund

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
Description	Fiscal Year 2026	7/31/26	2 Months	9/30/26	Fiscal Year 2027	

REVENUES:						
Special Assessments - Tax Roll	$  1,272,662	$  1,296,291	$	-	$  1,296,291	$  1,272,662	
Interest Income	85,000	63,435	11,101	74,537	74,000	
Insurance Proceeds	-	40,169	-	40,169	-	
Other Income	-	75	-	75	-	
Unassigned Fund Balance	-	-	-	-	32,084	
TOTAL REVENUES	$ 1,357,662	$ 1,399,970	$	11,101	$ 1,411,071	$ 1,378,746	

EXPENDITURES:						
General and Administrative						
Supervisor Fees	$	12,000	$	9,400	$	2,000	$	11,400	$	12,000	
FICA Taxes	918	719	153	872	918	
Engineering	-	-	-	-	110,000	
Assessment Roll	2,000	2,000	-	2,000	2,000	
Attorney	65,000	29,598	9,866	39,463	45,000	
Attorney - Special Counsel	50,000	20,520	6,840	27,360	-	
Annual Audit	3,900	3,900	-	3,900	4,000	
Arbitrage Rebate	600	600	-	600	600	
Trustee Fees	7,000	7,000	-	7,000	7,000	
Management Fees	72,311	60,259	12,052	72,311	76,650	
Information Technology	1,000	833	167	1,000	1,000	
Website Maintenance	1,000	833	167	1,000	1,000	
Postage & Delivery	750	758	379	1,137	1,250	
Insurance General Liability	14,915	13,389	-	13,389	14,728	
Printing & Binding	1,000	58	4	62	50	
Rental & Leases	4,800	4,000	800	4,800	4,800	
Meeting Room	1,200	400	500	900	1,200	
Legal Advertising	1,250	773	258	1,030	1,250	
Other Current Charges	1,400	1,732	346	2,078	2,000	
Office Supplies	250	23	5	27	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Security	3,000	1,677	500	2,177	3,000	
TOTAL GENERAL AND ADMINISTRATIVE	$  244,469	$  158,646	$	34,036	$  192,682	$  288,671	

Turtle Run
Community Development District
Proposed Budget General Fund

Description

Adopted Budget Fiscal Year
2026

Actuals Through
7/31/26

Projected Next
2 Months

Projected Through
9/30/26

Proposed Budget Fiscal Year
2027

Operations and Maintenance		
Special Pay	$	1,000	$	1,000	$	-	$	1,000	$	1,000	
Field Management	80,000	66,667	13,333	80,000	84,800	
Video Monitoring	3,000	2,264	453	2,717	3,000	
Internet/Data	2,000	953	213	1,166	2,000	
Electric	105,888	91,619	18,324	109,943	110,000	
Water	11,000	8,890	2,963	11,853	12,000	
Insurance	52,706	49,305	-	49,305	46,840	
Lake Maintenance	34,126	28,600	5,500	34,100	33,990	
Culvert Inspection/Cleaning	15,000	37,450	-	37,450	20,000	
Holiday Lighting/Decorations	77,071	86,901	-	86,901	84,459	
Iguana Removal	7,500	6,250	1,250	7,500	7,500	
Landscape Maintenance	371,392	309,493	61,899	371,392	382,534	
Pest Control/Fertilization	48,600	41,675	9,450	51,125	51,125	
Landscape Replacement/Removal/Additional Services	68,569	52,020	10,404	62,424	68,569	
Tree Trimming	39,000	13,204	25,796	39,000	39,000	
Fountain Maintenance	4,000	3,020	610	3,630	4,000	
Fountain Repairs	7,500	3,790	1,875	5,665	7,500	
Irrigation Repairs/Maintenance	28,000	35,626	4,667	40,293	30,000	
Pressure Cleaning	37,070	44,069	-	44,069	40,000	
General Maintenance	20,000	8,618	3,333	11,952	15,000	
Paver Repairs	11,000	4,650	2,750	7,400	9,000	
Lighting/Electrical Repairs	22,000	20,153	3,667	23,820	24,000	
Signs	-	944	-	944	-	
RPM Replacements	9,000	8,352	-	8,352	9,000	
Rust Preventative TR Park	4,770	3,850	770	4,620	4,759	
Flags	3,000	4,007	-	4,007	-	
Capital Outlay	-	16,920	-	16,920	-	
Capital Projects Transfer Out	50,000	50,000	-	50,000	-	
TOTAL OPERATIONS AND MAINTENANCE	$ 1,113,193	$ 1,000,291	$ 167,257	$ 1,167,548	$ 1,090,075	
						
TOTAL EXPENDITURES	$ 1,357,662	$ 1,158,937	$ 201,293	$ 1,360,230	$ 1,378,746	
						
EXCESS REVENUES (EXPENDITURES)	$	0	$	241,033	$ (190,191)	$	50,842	$	-	

REVENUES

Special Assessments - Tax Roll
The District will levy a non-ad valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the fiscal year.
Interest Income
The District earns interest on the monthly average collected balance for each of their investment accounts.

Expenditures - General and Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.

FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Assessment Roll
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local tax collector and financial advisory services.
Attorney
The District’s attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an independent certified public accounting firm.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District's Series 2017-1 and 2017-2 Special Assessment Bonds.
Trustee Fees
The District issued Series 2017-1 and Series 2017-2 Special Assessment Bonds. The amount of the trustee fees is based on the agreement between the trustee and the District.
Management Fees
The District receives management, accounting, and administrative services as part of a management agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the management agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the District as well as links to useful websites regarding compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.
Postage & Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance General Liability
The District's general liability and public officials liability insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar community development districts.

Expenditures - General and Administrative (Continued)

Printing & Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Rental & Leases
The District will be charged $400 per month for office rent from Governmental Management Services-South Florida, LLC.

Meeting Room
Cost to rent space to hold the monthly board meetings.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the fiscal year.

Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.

Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity community affairs for $175.

Security
Cost for the police officer to attend the monthly board meetings.

Expenditures – Operations and Maintenance

Special Pay
Special pay is a bonus for exemplary service for on-site field management personnel.

Field Management
The District has contracted with Governmental Management Services-South Florida for the supervision and on-site management of Turtle Run Community Development District. Their responsibilities include reviewing contracts, providing the on-site support during designated times, and other maintenance related items, not to exceed 20 hours of field coverage per week.
Video Monitoring
Services are provided to the District by Blue Stream Fiber.

Internet/Data
The District currently has an account with Verizon Wireless. Services include data coverage for the iPads of the board of supervisors.
Electric
The District is responsible for 16 accounts with Florida Power & Light and this has been budgeted based on historical charges.

Water
The city of Coral Springs provides water service for the roundabout fountain, front entrance fountain and irrigation for landscaping on Wiles Road by the privacy wall.
Insurance
The District's property insurance is with Egis Insurance Advisors, a company that specializes in providing insurance coverage to governmental agencies.
Lake Maintenance
Lake maintenance services are provided by Southeast Land and Water Management and includes monthly inspections and treatment of aquatic weeds, algae, and any nuissance grasses and issues in accordance with the EPA.
Culvert Inspection/Cleaning
Annual storm drain inspection and cleaning for storm drains throughout the District that are CDD's responsibility.

Expenditures – Operations and Maintenance (Continued)

Holiday Lighting/Decorations
The District has contracted with Holiday Outdoor Decor for the annual holiday lighting of the District.

Iguana Removal
The District has a contract with Redline Iguana Removal for bi-weekly removal of iguanas snaring, trapping, and shooting.

Landscape Maintenance
Landscape maintenance includes mowing of all the grass areas, pruning of shrubs, weeding of all bedding areas, irrigation maintenance, annual mulching, and tree trimming with Brightview Landscaping.
Pest Control/Fertilization
Services include the interior/exterior service treatment of pest, insects, and rodents.

Landscape Replacement/Removal/Additional Services
Replacement and removal of plants and trees throughout the district. Also, includes additional services such as stump grinding and removal, sod replacement, etc.
Tree Trimming
Cost to trim all of the trees throughout the district annually.

Fountain Maintenance
Monthly cleaning for the roundabout fountain and lake fountains.

Fountain Repairs
Semi annual cleaning of floating fountains, repairs to lights, floats, motor and equipment, and repairs to front entrance fountain equipment.
Irrigation Repairs/Maintenance
Costs to maintain and repair the irrigation system, including making unscheduled repairs and replacements as required.
Pressure Cleaning
Annual pressure cleaning of sidewalks, entrance walls, decorative concrete fences, etc.
General Maintenance
General maintenance includes maintenance and repair work needed throughout the common areas of the District.
Paver Repairs
Costs to repair the pavers throughout the District.
Lighting/Electrical Repairs
Repair and maintenance for entrance feature lighting, wall lights and streetlighting.
RPM Replacements
Replacement of solar RPM in the roundabout.
Rust Preventative TR Park
Chemicals needed for tank attached to irrigation pump in Turtle Run Park and pressure cleaning touch-up.

Exhibit "A" Operating Reserves Schedule

OPERATING RESERVE

Beginning Fund Balance - 10/1/25	$	1,905,656	
Estimated Net Change in Fund Balance - Fiscal Year 2026	50,842	
Total Funds Available (Estimated) - 9/30/26	1,956,498	

ALLOCATION OF AVAILABLE FUNDS		
Funding for First Quarter Operating Expenditures	(344,687)	
Reserved for Emergency Fund	(582,944)	
Use of Fund Balance for Fiscal Year 2027 Budget	(32,084)	
Total Allocation of Available Funds	(959,715)	
		
Total Unassigned (Undesignated) Cash	$	996,783	

Proposed Budget
Debt Service Series 2017 Special Assessment Bonds

	Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
Description	Fiscal Year	7/31/26	2 Months	9/30/26	Fiscal Year	
	2026				2027	

REVENUES:						
Special Assessments - Tax Roll	$	445,623	$	453,242	$	-	$	453,242	$	445,623	
Interest Income	-	20,544	1,800	22,344	-	
Carry Forward Surplus (1)	325,677	-	330,453	330,453	359,077	
TOTAL REVENUES	$	771,301	$	473,785	$ 332,253	$	806,038	$	804,701	

EXPENDITURES:						
Series 2017-1						
Interest - 11/1	$	46,448	$	46,448	$	(0)	$	46,448	$	45,201	
Special Call - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	46,448	46,363	-	46,363	45,201	
Principal - 5/1	90,000	90,000	-	90,000	95,000	
Series 2017-2						
Interest - 11/1	84,575	84,575	-	84,575	82,775	
Interest - 5/1	84,575	84,575	-	84,575	82,775	
Principal - 5/1	90,000	90,000	-	90,000	95,000	
TOTAL EXPENDITURES	$	442,046	$	446,961	$	(0)	$	446,961	$	445,951	
						
EXCESS REVENUES (EXPENDITURES)	$	329,255	$	26,824	$ 332,253	$	359,077	$	358,749	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

$124,769.38

$124,769.38

	05/01/26	$	2,845,000	$	90,000	$	46,370.63	
	11/01/26		2,755,000		-		45,200.63	
	05/01/27		2,755,000		95,000		45,200.63	
	11/01/27		2,660,000		-		43,894.38	
	05/01/28		2,660,000		95,000		43,894.38	
	11/01/28		2,565,000		-		42,528.75	
	05/01/29		2,565,000		100,000		42,528.75	
	11/01/29		2,465,000		-		40,978.75	
	05/01/30		2,465,000		100,000		40,978.75	
	11/01/30		2,365,000		-		39,428.00	
	05/01/31		2,365,000		105,000		39,428.75	
	11/01/31		2,260,000		-		37,801.25	
	05/01/32		2,260,000		110,000		37,801.25	
	11/01/32		2,150,000		-		36,096.25	
	05/01/33		2,150,000		115,000		36,096.25	
	11/01/33		2,035,000		-		34,227.50	
	05/01/34		2,035,000		115,000		34,227.50	
	11/01/34		1,920,000		-		32,358.75	
	05/01/35		1,920,000		120,000		32,358.75	
	11/01/35		1,800,000		-		30,408.75	
	05/01/36		1,800,000		125,000		30,408.75	
	11/01/36		1,675,000		-		28,377.50	
	05/01/37		1,675,000		130,000		28,377.50	
	11/01/37		1,545,000		-		26,265.00	
	05/01/38		1,545,000		135,000		26,265.00	
	11/01/38		1,410,000		-		23,970.00	
	05/01/39		1,410,000		135,000		23,970.00	
	11/01/39		1,275,000		-		21,675.00	
	05/01/40		1,275,000		140,000		21,675.00	
	11/01/40		1,135,000		-		19,295.00	
	05/01/41		1,135,000		145,000		19,295.00	
	11/01/41		990,000		-		16,830.00	
	05/01/42		990,000		150,000		16,830.00	
	11/01/42		840,000		-		14,280.00	
	05/01/43		840,000		155,000		14,280.00	
	11/01/43		685,000		-		11,645.00	
	05/01/44		685,000		160,000		11,645.00	
	11/01/44		525,000		-		8,925.00	
	05/01/45		525,000		170,000		8,925.00	
	11/01/45		355,000		-		6,035.00	
	05/01/46		355,000		175,000		6,035.00	
	11/01/46		180,000		-		3,060.00	
	05/01/47		180,000		180,000		3,060.00	
Total					$2,845,000		$1,172,932	

	05/01/26	$	3,440,000	$	90,000	$	84,575.00	
	11/01/26		3,350,000		-		82,775.00	
	05/01/27		3,350,000		95,000		82,775.00	
	11/01/27		3,255,000		-		80,875.00	
	05/01/28		3,255,000		100,000		80,875.00	
	11/01/28		3,155,000		-		78,875.00	
	05/01/29		3,155,000		100,000		78,875.00	
	11/01/29		3,055,000		-		76,375.00	
	05/01/30		3,055,000		105,000		76,375.00	
	11/01/30		2,950,000		-		73,750.00	
	05/01/31		2,950,000		115,000		73,750.00	
	11/01/31		2,835,000		-		70,875.00	
	05/01/32		2,835,000		120,000		70,875.00	
	11/01/32		2,715,000		-		67,875.00	
	05/01/33		2,715,000		125,000		67,875.00	
	11/01/33		2,590,000		-		64,750.00	
	05/01/34		2,590,000		130,000		64,750.00	
	11/01/34		2,460,000		-		61,500.00	
	05/01/35		2,460,000		140,000		61,500.00	
	11/01/35		2,320,000		-		58,000.00	
	05/01/36		2,320,000		145,000		58,000.00	
	11/01/36		2,175,000		-		54,375.00	
	05/01/37		2,175,000		155,000		54,375.00	
	11/01/37		2,020,000		-		50,500.00	
	05/01/38		2,020,000		160,000		50,500.00	
	11/01/38		1,860,000		-		46,500.00	
	05/01/39		1,860,000		170,000		46,500.00	
	11/01/39		1,690,000		-		42,250.00	
	05/01/40		1,690,000		175,000		42,250.00	
	11/01/40		1,515,000		-		37,875.00	
	05/01/41		1,515,000		185,000		37,875.00	
	11/01/41		1,330,000		-		33,250.00	
	05/01/42		1,330,000		195,000		33,250.00	
	11/01/42		1,135,000		-		28,375.00	
	05/01/43		1,135,000		205,000		28,375.00	
	11/01/43		930,000		-		23,250.00	
	05/01/44		930,000		215,000		23,250.00	
	11/01/44		715,000		-		17,875.00	
	05/01/45		715,000		225,000		17,875.00	
	11/01/45		490,000		-		12,250.00	
	05/01/46		490,000		240,000		12,250.00	
	11/01/46		250,000		-		6,250.00	
	05/01/47		250,000		250,000		6,250.00	
Total					$3,440,000		$2,221,375	

Turtle Run
Community Development District
Non-Ad Valorem Assessments Comparison

Unit Type	
Acres	Bonds Units 2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Acre	
			
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (Decrease)	
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (Decrease)	
Fiscal Year 2027	
Fiscal Year 2026	Increase/ (Decrease)	

Series 2017-1 Residential-Single Family Condo-Cypress Pointe	

108.74
26.72	

108.74
26.72	

$4,348.34
$4,348.34	

$4,348.34
$4,348.34	

$0.00
$0.00	

$1,456.70
$1,456.70	

$1,456.70
$1,456.70	

$0.00
$0.00	

$5,805.04
$5,805.04	

$5,805.04
$5,805.04	

$0.00
$0.00	
Series 2017-2 Apartment-The Grove Apartment-Park Place Apartments-The Park Commercial	
32.41
17.49
13.92
112.52	
32.41
17.49
13.92
112.52	
$4,348.34
$4,348.34
$4,348.34
$4,348.34	
$4,348.34
$4,348.34
$4,348.34
$4,348.34	
$0.00
$0.00
$0.00
$0.00	
$1,602.03
$1,602.03
$1,602.03
$1,552.53	
$1,602.03
$1,602.03
$1,602.03
$1,552.53	
$0.00
$0.00
$0.00
$0.00	
$5,950.37
$5,950.37
$5,950.37
$5,900.87	
$5,950.37
$5,950.37
$5,950.37
$5,900.87	
$0.00
$0.00
$0.00
$0.00	
Total Acres	311.8	311.8