Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
January 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	
January 31, 2025		
General	Debt Service	Totals	
Fund	Fund	Governmental Funds	
Assets:

$	47,056	
-	

$	-	
16,963	

$	47,056	
16,963	

Cash:
Operating Account Due from General Fund

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

152,023	
252,671	

-	
-	

152,023	
252,671	

Series 2020	
Reserve	
Revenue	

-	
-	

26,754	
251,018	

-	
26,754	
251,018	

Total Assets	$	451,749	$	294,735	$	746,485	
Liabilities:	
Accounts Payable	-	$	-		$	-	
Due to Debt Service	16,963		-	16,963	

Total Liabilites

$

16,963

$

-

$

16,963

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

$	-	$

294,735	$

294,735

65,000	
369,787	

	
-	
-	

	
65,000	
369,787	

Total Fund Balances	$	434,787	$	294,735	$	729,522	
				
Total Liabilities & Fund Balance	$	451,749	$	294,735	$	746,485	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/25	Thru 01/31/25	Variance	

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

$	198,142	
3,333	

$	198,142	
4,206	

$	-	
872	

Total Revenues	$  236,190	$  201,476	$  202,348	$	872	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	4,000	$	1,800	$	2,200	
PR-FICA	918	306	138	168	
Engineering	10,000	3,333	1,005	2,328	
Attorney	13,000	4,333	2,260	2,073	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	350	350	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	7,884	7,884	0	
Property Appraiser	854	854	854	-	
Information Technology	525	175	175	-	
Website Maintenance	1,155	385	385	-	
Telephone	50	17	-	17	
Postage & Delivery	175	58	24	34	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	133	38	95	
Legal Advertising	500	167	-	167	
Office Supplies	50	17	-	17	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	708	(108)	
Total General & Administrative	$	86,194	$	43,877	$	36,582	$	7,296	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/25	Thru 01/31/25	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	

$	6,300	
1,752	
500	
2,358	
-	
-	
-	
2,186	
2,230	
250	
1,798	
-	
3,333	
-	

$	6,300	
1,752	
435	
2,358	
-	
-	
-	
741	
2,230	
415	
1,950	
-	
-	
-	

$	-	
-	
65	
-	
-	
-	
-	
1,445	
-	
(165)	
(152)	
-	
3,333	
-	

Subtotal Field Expenditures	$  149,996	$	20,707	$	16,180	$	4,527	

Total Operations & Maintenance	$  149,996	$	20,707	$	16,180	$	4,527	

Total Expenditures	$  236,190	$	64,584	$	52,761	$	11,823	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	136,891	$	149,587	$	12,695	

Net Change in Fund Balance	$	-	$  136,891	$  149,587	$	12,695	
	
Fund Balance - Beginning	$	-		$	285,200		
	
Fund Balance - Ending	$	-		$	434,787		

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

Adopted	Prorated Budge	Actual	
Budget	Thru 01/31/25	Thru 01/31/25	Variance	

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

$	234,069	
400	

$	234,069	
484	

$	-	
84	

Total Revenues	$  268,744	$  234,469	$  234,553	$	84	
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 Expenditures	$	(485)	$	207,354	$	207,438	$	84	

Net Change in Fund Balance	$	(485)	$  207,354	$  207,438	$	84	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$	294,735	

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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  198,142	
Interest	963	881	919	1,443	-	-	-	-	-	-	-	-	4,206	

Total Revenues	$	963	$  44,156	$ 144,407	$  12,823	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 202,348	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,800	
PR-FICA	-	61	-	77	-	-	-	-	-	-	-	-	138	
Engineering	-	-	-	1,005	-	-	-	-	-	-	-	-	1,005	
Attorney	428	1,140	693	-	-	-	-	-	-	-	-	-	2,260	
Annual Audit	-	-	4,600	-	-	-	-	-	-	-	-	-	4,600	
Assessment Administration	4,200	-	-	-	-	-	-	-	-	-	-	-	4,200	
Dissemination Agent	88	88	88	88	-	-	-	-	-	-	-	-	350	
Trustee Fees	4,041	-	-	-	-	-	-	-	-	-	-	-	4,041	
Management Fees	1,971	1,971	1,971	1,971	-	-	-	-	-	-	-	-	7,884	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	-	-	-	-	-	-	-	-	175	
Website Maintenance	96	96	96	96	-	-	-	-	-	-	-	-	385	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	7	4	8	6	-	-	-	-	-	-	-	-	24	
Insurance General Liability	7,945	-	-	-	-	-	-	-	-	-	-	-	7,945	
Printing & Binding	14	-	23	1	-	-	-	-	-	-	-	-	38	
Legal Advertising	-	-	-	-	-	-	-	-	-	-	-	-	-	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Contingency	234	206	139	129	-	-	-	-	-	-	-	-	708	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	4,415	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  36,582	

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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	6,300	
Lake and Wetland Maintenance	438	438	438	438	-	-	-	-	-	-	-	-	1,752	
Fountain Maintenance	435	-	-	-	-	-	-	-	-	-	-	-	435	
Landscape Maintenance	589	589	589	589	-	-	-	-	-	-	-	-	2,358	
Plant Replacement	-	-	-	-	-	-	-	-	-	-	-	-	-	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	-	-	-	-	-	-	-	-	741	
Pest Control	557	557	557	557	-	-	-	-	-	-	-	-	2,230	
Utility - Stormwater	-	415	-	-	-	-	-	-	-	-	-	-	415	
Repairs & Maintenance	1,950	-	-	-	-	-	-	-	-	-	-	-	1,950	
Stormwater Drain System	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Reserve	-	-	-	-	-	-	-	-	-	-	-	-	-	

Subtotal Field Expenditures	$	5,759	$	3,841	$	3,290	$	3,290	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  16,180	

Total Operations & Maintenance	$	5,759	$	3,841	$	3,290	$	3,290	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  16,180	

Total Expenditures	$  25,001	$	9,105	$  10,950	$	7,705	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  52,761	

Excess (Deficiency) of Revenues over Expe	$  (24,038)	$	35,050	$  133,457	$	5,118	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  149,587	

Net Change in Fund Balance	$  (24,038)	$  35,050	$ 133,457	$	5,118	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 149,587	

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	
	$	459,007.54	$	17,981.02	$	8,815.46	$	-		$	432,211.06	$	198,142.33	$	234,068.73	$	432,211.06	

87.39%
$	66,241.56

Percent Collected Balance Remaining to Collect

Page 8