Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
July 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	
9		Lake and Fence Projects	

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

Assets:
Cash:
Operating Account

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

Series 2020	
Reserve	
Revenue	

$	3,497	$

100,105	
257,420	

-	
-	

Total Liabilities

$

12,170

$

-

$

12,170

Total Assets	$	361,022	$	88,426	$	449,447	
Liabilities:	
Accounts Payable	$	12,170	$	-	$	12,170	

Fund Balance:	
Restricted for:	
Debt Service	
Assigned for:	
General Fund Reserves	
Unassigned	

$	-	$

-	$

-	
-	

26,754	
61,671	

88,426	$

3,497

100,105	
257,420	

-	
26,754	
61,671	

88,426

65,000	
283,852	

	
-	
-	

	
65,000	
283,852	

Total Fund Balances	$	348,852	$	88,426	$	437,277	
				
Total Liabilities & Fund Balance	$	361,022	$	88,426	$	449,447	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

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

$ 226,190	
8,333	
-	

$ 227,671	
12,337	
560	

$	1,481	
4,004	
560	

Total Revenues	$ 236,190	$ 234,524	$ 240,569	$	6,046	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	10,000	$	5,400	$	4,600	
PR-FICA	918	765	413	352	
Engineering	10,000	8,333	3,618	4,715	
Attorney	13,000	10,833	9,018	1,816	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	875	875	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	19,710	19,710	0	
Property Appraiser	854	854	854	-	
Information Technology	525	438	438	-	
Website Maintenance	1,155	963	963	-	
Telephone	50	42	-	42	
Postage & Delivery	175	146	368	(222)	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	333	251	82	
Legal Advertising	500	417	1,087	(671)	
Office Supplies	50	42	34	7	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	1,817	(1,217)	
Total General & Administrative	$  86,194	$  75,615	$  65,806	$	9,809	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	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	
Fence Restoration	-	
Lake Restoration	-	

$	15,750	
4,380	
1,250	
5,894	
17,009	
8,017	
7,296	
5,464	
5,575	
250	
4,496	
10,000	
8,333	
29,167	
-	
-	

$	15,750	
4,432	
1,185	
5,894	
17,009	
-	
-	
1,519	
5,575	
415	
1,950	
27,500	
-	
-	
8,600	
21,283	

$	-	
(52)	
65	
(0)	
-	
8,017	
7,296	
3,945	
-	
(165)	
2,546	
(17,500)	
8,333	
29,167	
(8,600)	
(21,283)	

Subtotal Field Expenditures	$ 149,996	$ 122,881	$ 111,111	$	11,769	

Total Operations & Maintenance	$ 149,996	$ 122,881	$ 111,111	$	11,769	

Total Expenditures	$ 236,190	$ 198,496	$ 176,918	$	21,578	

Excess (Deficiency) of Revenues over Expenditure	$	-	$	36,028	$	63,652	$	27,624	

Net Change in Fund Balance	$	-	$  36,028	$  63,652	$	27,624	
	
Fund Balance - Beginning	$	-		$ 285,200		
	
Fund Balance - Ending	$	-		$ 348,852		

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

Adopted	Prorated Budg	Actual	
Budget	Thru 07/31/25	Thru 07/31/25	Variance	

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

$ 267,544	
1,000	

$ 268,139	
2,219	

$	595	
1,219	

Total Revenues	$ 268,744	$ 268,544	$ 270,357	$	1,814	
Expenditures:		
Interest - 11/1	$	27,115	$	27,115	$	27,115	$	-	
Principal - 5/1	215,000	215,000	215,000	-	
Interest - 5/1	27,115	27,115	27,115	-	
Total Expenditures	$ 269,229	$ 269,229	$ 269,229	$	-	

Excess (Deficiency) of Revenues over Expenditure	$	(485)	$	(685)	$	1,128	$	1,814	

Net Change in Fund Balance	$	(485)	$	(685)	$	1,128	$	1,814	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$	88,426	

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	$	11,817	$	2,993	$	569	$	4,092	$	-	$	-	$  227,671	
Interest	963	881	919	1,443	1,304	1,445	536	2,248	1,345	1,253	-	-	12,337	
Miscellaneous Revenue	-	-	-	-	560	-	-	-	-	-	-	-	560	

Total Revenues	$	963	$  44,156	$ 144,407	$  12,823	$	7,417	$	5,950	$  12,354	$	5,242	$	1,914	$	5,344	$	-	$	-	$ 240,569	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	800	$	1,000	$	800	$	1,000	$	-	$	-	$	-	$	5,400	
PR-FICA	-	61	-	77	-	61	77	61	77	-	-	-	413	
Engineering	-	-	-	-	-	-	-	-	-	3,618	-	-	3,618	
Attorney	428	1,140	693	1,628	545	860	540	1,733	1,453	-	-	-	9,018	
Annual Audit	-	-	4,600	-	-	-	-	-	-	-	-	-	4,600	
Assessment Administration	4,200	-	-	-	-	-	-	-	-	-	-	-	4,200	
Dissemination Agent	88	88	88	88	88	88	88	88	88	88	-	-	875	
Trustee Fees	4,041	-	-	-	-	-	-	-	-	-	-	-	4,041	
Management Fees	1,971	1,971	1,971	1,971	1,971	1,971	1,971	1,971	1,971	1,971	-	-	19,710	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	44	44	44	44	44	44	-	-	438	
Website Maintenance	96	96	96	96	96	96	96	96	96	96	-	-	963	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	7	4	8	6	6	-	14	8	312	3	-	-	368	
Insurance General Liability	7,945	-	-	-	-	-	-	-	-	-	-	-	7,945	
Printing & Binding	14	-	23	1	23	-	3	54	113	20	-	-	251	
Legal Advertising	-	-	-	-	140	-	-	158	790	-	-	-	1,087	
Office Supplies	-	-	-	-	-	-	-	0	34	-	-	-	34	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Contingency	234	206	139	129	151	148	99	221	222	269	-	-	1,817	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	5,038	$	3,063	$	4,067	$	3,931	$	5,233	$	6,199	$	6,109	$	-	$	-	$  65,806	

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	$	1,575	$	1,575	$	1,575	$	1,575	$	-	$	-	$	15,750	
Lake and Wetland Maintenance	438	438	438	438	438	438	451	451	451	451	-	-	4,432	
Fountain Maintenance	435	-	-	250	-	-	250	-	-	250	-	-	1,185	
Landscape Maintenance	589	589	589	589	589	589	589	589	589	589	-	-	5,894	
Plant Replacement	-	-	-	-	16,773	236	-	-	-	-	-	-	17,009	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	130	130	130	130	130	130	-	-	1,519	
Pest Control	557	557	557	557	557	557	557	557	557	557	-	-	5,575	
Utility - Stormwater	-	415	-	-	-	-	-	-	-	-	-	-	415	
Repairs & Maintenance	1,950	-	-	-	-	-	-	-	-	-	-	-	1,950	
Stormwater Drain System	-	-	-	-	-	-	-	-	27,500	-	-	-	27,500	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	
Reserve	-	-	-	-	-	-	-	-	-	-	-	-	-	
Fence Restoration	-	-	-	-	-	-	-	8,600	-	-	-	-	8,600	
Lake Restoration	118	3,973	1,005	571	-	5,390	733	943	8,552	-	-	-	21,283	

Subtotal Field Expenditures	$	5,877	$	7,814	$	4,295	$	4,110	$  20,063	$	8,915	$	4,285	$  12,845	$  39,355	$	3,553	$	-	$	-	$ 111,111	

Total Operations & Maintenance	$	5,877	$	7,814	$	4,295	$	4,110	$  20,063	$	8,915	$	4,285	$  12,845	$  39,355	$	3,553	$	-	$	-	$ 111,111	

Total Expenditures	$  25,118	$  13,078	$  11,955	$	9,148	$  23,126	$  12,983	$	8,216	$  18,078	$  45,554	$	9,662	$	-	$	-	$ 176,918	

Excess (Deficiency) of Revenues over Expe	$  (24,156)	$	31,078	$  132,452	$	3,675	$  (15,709)	$	(7,033)	$	4,138	$  (12,837)	$  (43,640)	$	(4,317)	$	-	$	-	$	63,652	

Net Change in Fund Balance	$  (24,156)	$  31,078	$ 132,452	$	3,675	$  (15,709)	$	(7,033)	$	4,138	$  (12,837)	$  (43,640)	$	(4,317)	$	-	$	-	$  63,652	

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)	
Less: Principal Payment - 5/1/25	($215,000)	
Current Bonds Outstanding	$1,920,000	

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	
04/11/25	24,950.94	-	499.02		24,451.92	11,201.95	13,249.97	24,451.92	
04/25/25	-	-	-	615.51	615.51	615.51	-	615.51	
05/15/25	6,472.68	(194.17)	133.34		6,533.51	2,993.14	3,540.37	6,533.51	
06/13/25	1,230.09	(36.90)	25.34		1,241.65	568.83	672.82	1,241.65	
07/11/25	8,610.63	(258.30)	177.37	-	8,691.56	3,981.79	4,709.77	8,691.56	
07/25/25	-	-	-	109.81	109.81	109.81	-	109.81	
	$	522,788.25	$	17,858.01	$	10,098.59	$	978.32	$	495,809.97	$	227,671.39	$	268,138.58	$	495,809.97	

$

99.53%
2,460.85

Percent Collected Balance Remaining to Collect

Page 8

Griffin Lakes
Community Development District Lake Projects

Applications/
Contractor	Invoices	Amount of Payments	Shoreline
Restoration Lake 1 and 2	Lake-side Fence Restoration	Engineer/ Contingency	
					
Budget FY2025		$0.00	$0.00	$20,000.00	
Budget FY2026		$301,378.00	$100,000.00	$10,000.00	
Garnet Engineering and Contracting LLC	111
Headley Construction Group Inc	78
Alvarez Engineers	8129
Alvarez Engineers	8181
Alvarez Engineers	8218
Alvarez Engineers	8272
Alvarez Engineers	8363
Alvarez Engineers	8362
Alvarez Engineers	8435
Alvarez Engineers	8498	$8,600.00
$8,552.00
$117.50
$3,972.50
$1,005.00
$570.65
$5,000.00
$390.00
$732.50
$942.50	
$8,552.00	$8,600.00	

$117.50
$3,972.50
$1,005.00
$570.65
$5,000.00
$390.00
$732.50
$942.50	
TOTAL FY 2025	$29,882.65	$8,552.00	$8,600.00	$12,730.65	
					
TOTAL PAID	$29,882.65	$8,552.00	$8,600.00	$12,730.65	
	
	Total	Landshore
Enterprises	Garnet
Engineering	Engineer/
Contingency	
Contracts/Budget	$450,494.30	$421,894.30	$8,600.00	$20,000.00	
Total	$450,494.30	$421,894.30	$8,600.00	$20,000.00	
	
Remaining balance after change orders	$420,611.65	$413,342.30	$0.00	$7,269.35	

Page 9