Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
March 31, 2025	

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2020	

5-6	
	Month to Month	

7	
	Long Term Debt Report	

8	
	Assessment Receipt Schedule	

Griffin Lakes	
Community Development District	
Combined Balance Sheet	
March 31, 2025		
General	Debt Service	Totals	
Fund	Fund	Governmental Funds	
Assets:

$	14,615	
-	

$	-	
5,329	

$	14,615	
5,329	

Cash:
Operating Account Due from General Fund

Investments:	
State Board of Administration (SBA)	
Bank Unites (Money Market)	

153,136	
254,206	

-	
-	

153,136	
254,206	

Series 2020	
Reserve	
Revenue	

-	
-	

26,754	
275,270	

-	
26,754	
275,270	

Total Assets	$	421,957	$	307,353	$	729,310	
Liabilities:	
Accounts Payable	$	4,326	$	-		$	4,326	
Due to Debt Service	5,329		-	5,329	

Total Liabilites

$

9,655

$

-

$

9,655

Fund Balance:	
Restricted for:	
Debt Service - Series 2020	
Assigned for:	
General Fund Reserves	
Unassigned	

$	-	$

307,353	$

307,353

65,000	
347,302	

	
-	
-	

	
65,000	
347,302	

Total Fund Balances	$	412,302	$	307,353	$	719,656	
				
Total Liabilities & Fund Balance	$	421,957	$	307,353	$	729,310	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending March 31, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 03/31/25	Thru 03/31/25	Variance	

Revenues:		
Special Assessments - Tax Roll	$ 226,190	
Interest	10,000	
Miscellaneous Revenue	-	

$ 208,200	
5,000	
-	

$ 208,200	
6,954	
560	

$	-	
1,954	
560	

Total Revenues	$ 236,190	$ 213,200	$ 215,715	$	2,515	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	6,000	$	2,600	$	3,400	
PR-FICA	918	459	199	260	
Engineering	10,000	5,000	5,666	(666)	
Attorney	13,000	6,500	3,888	2,613	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	525	525	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	11,826	11,826	0	
Property Appraiser	854	854	854	-	
Information Technology	525	263	263	-	
Website Maintenance	1,155	578	578	-	
Telephone	50	25	-	25	
Postage & Delivery	175	88	30	57	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	200	61	139	
Legal Advertising	500	250	140	110	
Office Supplies	50	25	-	25	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	1,006	(406)	
Total General & Administrative	$  86,194	$  54,457	$  48,595	$	5,862	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending March 31, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 03/31/25	Thru 03/31/25	Variance	

Operations & Maintenance

Field Expenditures		
Field Management	$	18,900	
Lake and Wetland Maintenance	5,256	
Fountain Maintenance	1,500	
Landscape Maintenance	7,073	
Plant Replacement	25,000	
Mulch & Palm pruning	9,620	
Tree Pruning/Trimming	8,755	
Irrigation Repair & Maintenance	6,557	
Pest Control	6,690	
Utility - Stormwater	250	
Repairs & Maintenance	5,395	
Stormwater Drain System	10,000	
Contingency	10,000	
Reserve	35,000	

$	9,450	
2,628	
750	
3,536	
17,009	
-	
-	
3,279	
3,345	
250	
2,698	
-	
5,000	
-	

$	9,450	
2,628	
685	
3,536	
17,009	
-	
-	
1,000	
3,345	
415	
1,950	
-	
-	
-	

$	-	
-	
65	
-	
-	
-	
-	
2,278	
-	
(165)	
748	
-	
5,000	
-	

Subtotal Field Expenditures	$ 149,996	$  47,944	$  40,018	$	7,926	

Total Operations & Maintenance	$ 149,996	$  47,944	$  40,018	$	7,926	

Total Expenditures	$ 236,190	$ 102,401	$  88,613	$	13,788	

Excess (Deficiency) of Revenues over Expenditure	$	-	$ 110,799	$ 127,102	$	16,303	

Other Financing Sources/(Uses):

Transfer In/(Out)	$	-	$	-	$	-	$	-	

Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
	
Net Change in Fund Balance	$	-	$ 110,799	$ 127,102	$	16,303	
	
Fund Balance - Beginning	$	-		$ 285,200		
	
Fund Balance - Ending	$	-		$ 412,302		

Griffin Lakes	
Community Development District	
Debt Service Fund Series 2020	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending March 31, 2025	

Adopted	Prorated Budg	Actual	
Budget	Thru 03/31/25	Thru 03/31/25	Variance	

Revenues:		
Assessments - Tax Roll	$ 267,544	
Interest	1,200	

$ 245,966	
600	

$ 245,966	
1,205	

$	-	
605	

Total Revenues	$ 268,744	$ 246,566	$ 247,171	$	605	
Expenditures:		
Interest - 11/1	$	27,115	$	27,115	$	27,115	$	-	
Principal - 5/1	215,000	-	-	-	
Interest - 5/1	27,115	-	-	-	
Total Expenditures	$ 269,229	$  27,115	$  27,115	$	-	

Excess (Deficiency) of Revenues over Expenditure	$	(485)	$ 219,451	$ 220,056	$	605	

Other Financing Sources/(Uses):

Transfer In/(Out)	$	-	

$	-	$

-	$	-

Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
		
Net Change in Fund Balance	$	(485)	$ 219,451	$ 220,056	$	605	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$ 307,353	

Griffin Lakes	
Community Development District	
Month to Month	

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

Revenues:														
Special Assessments - Tax Roll	$	-	$	43,275	$  143,487	$	11,380	$	5,552	$	4,506	$	-	$	-	$	-	$	-	$	-	$	-	$  208,200	
Interest	963	881	919	1,443	1,304	1,445	-	-	-	-	-	-	6,954	
Miscellaneous Revenue	-	-	-	-	560	-	-	-	-	-	-	-	560	

Total Revenues	$	963	$  44,156	$ 144,407	$  12,823	$	7,417	$	5,950	$	-	$	-	$	-	$	-	$	-	$	-	$ 215,715	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	800	$	-	$	-	$	-	$	-	$	-	$	-	$	2,600	
PR-FICA	-	61	-	77	-	61	-	-	-	-	-	-	199	
Engineering	-	-	-	1,005	571	4,090	-	-	-	-	-	-	5,666	
Attorney	428	1,140	693	1,628	-	-	-	-	-	-	-	-	3,888	
Annual Audit	-	-	4,600	-	-	-	-	-	-	-	-	-	4,600	
Assessment Administration	4,200	-	-	-	-	-	-	-	-	-	-	-	4,200	
Dissemination Agent	88	88	88	88	88	88	-	-	-	-	-	-	525	
Trustee Fees	4,041	-	-	-	-	-	-	-	-	-	-	-	4,041	
Management Fees	1,971	1,971	1,971	1,971	1,971	1,971	-	-	-	-	-	-	11,826	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	44	44	-	-	-	-	-	-	263	
Website Maintenance	96	96	96	96	96	96	-	-	-	-	-	-	578	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	7	4	8	6	6	-	-	-	-	-	-	-	30	
Insurance General Liability	7,945	-	-	-	-	-	-	-	-	-	-	-	7,945	
Printing & Binding	14	-	23	1	23	-	-	-	-	-	-	-	61	
Legal Advertising	-	-	-	-	140	-	-	-	-	-	-	-	140	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Contingency	234	206	139	129	151	148	-	-	-	-	-	-	1,006	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	6,043	$	3,088	$	7,297	$	-	$	-	$	-	$	-	$	-	$	-	$  48,595	

Griffin Lakes	
Community Development District	
Month to Month	

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

Operations & Maintenance		
Field Expenditures		
Field Management	$	1,575	$	1,575	$	1,575	$	1,575	$	1,575	$	1,575	$	-	$	-	$	-	$	-	$	-	$	-	$	9,450	
Lake and Wetland Maintenance	438	438	438	438	438	438	-	-	-	-	-	-	2,628	
Fountain Maintenance	435	-	-	250	-	-	-	-	-	-	-	-	685	
Landscape Maintenance	589	589	589	589	589	589	-	-	-	-	-	-	3,536	
Plant Replacement	-	-	-	-	16,773	236	-	-	-	-	-	-	17,009	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	130	130	-	-	-	-	-	-	1,000	
Pest Control	557	557	557	557	557	557	-	-	-	-	-	-	3,345	
Utility - Stormwater	-	415	-	-	-	-	-	-	-	-	-	-	415	
Repairs & Maintenance	1,950	-	-	-	-	-	-	-	-	-	-	-	1,950	
Stormwater Drain System	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Reserve	-	-	-	-	-	-	-	-	-	-	-	-	-	

Subtotal Field Expenditures	$	5,759	$	3,841	$	3,290	$	3,540	$  20,063	$	3,525	$	-	$	-	$	-	$	-	$	-	$	-	$  40,018	

Total Operations & Maintenance	$	5,759	$	3,841	$	3,290	$	3,540	$  20,063	$	3,525	$	-	$	-	$	-	$	-	$	-	$	-	$  40,018	

Total Expenditures	$  25,001	$	9,105	$  10,950	$	9,582	$  23,151	$  10,823	$	-	$	-	$	-	$	-	$	-	$	-	$  88,613	

Excess (Deficiency) of Revenues over Expe	$  (24,038)	$	35,050	$  133,457	$	3,240	$  (15,734)	$	(4,873)	$	-	$	-	$	-	$	-	$	-	$	-	$  127,102	

Net Change in Fund Balance	$  (24,038)	$  35,050	$ 133,457	$	3,240	$  (15,734)	$	(4,873)	$	-	$	-	$	-	$	-	$	-	$	-	$ 127,102	

Griffin Lakes	
Community Development District	
Long Term Debt Report	

Series 2020, Special Assessment Revenue Refunding Bonds

Original Issuance - 8/28/2020	$2,945,000	
Interest Rate:	2.540%	
Maturity Date:	5/1/2033	
Reserve Fund Definition	10% of Maximum Annual Debt Service	
Reserve Fund Requirement	$26,754	
Reserve Fund Balance	26,754	
Bonds Outstanding	$2,945,000	
Less: Principal Payment - 5/1/21	($195,000)	
Less: Principal Payment - 5/1/22	($200,000)	
Less: Principal Payment - 5/1/23	($205,000)	
Less: Principal Payment - 5/1/24	($210,000)	
Current Bonds Outstanding	$2,135,000	

Page 7

Griffin Lakes
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Broward County Fiscal Year 2025

Gross Assessments	$	240,627.98	$	284,621.12	$	525,249.10	
Net Assessments	$	226,190.30	$	267,543.85	$	493,734.15	
ON ROLL ASSESSMENTS
allocation in %	45.81%	54.19%	100.00%
Date	Gross Amount	Discoumt/
(Penalty)	Commission	Interest	Net Receipts	O&M Portion	2020
Debt Service	Total	

11/22/24	
$	100,433	
$	4,043	
$	1,928	
$	-	
$	94,463	
$	43,275.40	
$	51,187.29	
$	94,462.69	
12/06/24	83,646.12	3,345.63	1,606.01	-	78,694.48	36,051.64	42,642.84	78,694.48	
12/20/24	241,754.30	9,613.85	4,642.81	-	227,497.64	104,221.59	123,276.05	227,497.64	
12/27/24	7,380.54	221.40	143.19	-	7,015.95	3,214.16	3,801.79	7,015.95	
01/06/25	24,925.27	747.70	483.53	-	23,694.04	10,854.75	12,839.29	23,694.04	
01/10/25	615.04	9.67	12.11	-	593.26	271.79	321.47	593.26	
01/24/25	-	-	-	253.00	253.00	253.00	-	253.00	
02/14/25	12,623.14	255.66	247.35	-	12,120.13	5,552.49	6,567.64	12,120.13	
03/17/25	10,146.23	110.70	200.71	-	9,834.82	4,505.54	5,329.28	9,834.82	
	$	481,523.91	$	18,347.38	$	9,263.52	$	253.00	$	454,166.01	$	208,200.36	$	245,965.65	$	454,166.01	

91.68%
$	43,725.19

Percent Collected Balance Remaining to Collect

Page 8