Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
August 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	
August 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	

$	1,026	$

80,419	
258,245	

-	
-	

Total Liabilities

$

101

$

-

$

101

Total Assets	$	339,690	$	88,540	$	428,230	
Liabilities:	
Accounts Payable	$	101	$	-	$	101	

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

$	-	$

-	$

-	
-	

26,754	
61,786	

88,540	$

1,026

80,419	
258,245	

-	
26,754	
61,786	

88,540

65,000	
274,590	

	
-	
-	

	
65,000	
274,590	

Total Fund Balances	$	339,590	$	88,540	$	428,130	
				
Total Liabilities & Fund Balance	$	339,690	$	88,540	$	428,230	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

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

$ 226,190	
9,167	
-	

$ 227,671	
13,526	
560	

$	1,481	
4,359	
560	

Total Revenues	$ 236,190	$ 235,357	$ 241,758	$	6,401	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	11,000	$	6,400	$	4,600	
PR-FICA	918	842	490	352	
Engineering	10,000	9,167	3,618	5,548	
Attorney	13,000	11,917	9,385	2,532	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	963	963	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	21,681	21,681	0	
Property Appraiser	854	854	854	-	
Information Technology	525	481	481	-	
Website Maintenance	1,155	1,059	1,059	-	
Telephone	50	46	-	46	
Postage & Delivery	175	160	374	(214)	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	367	253	114	
Legal Advertising	500	458	1,087	(629)	
Office Supplies	50	46	34	12	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	2,059	(1,459)	
Total General & Administrative	$  86,194	$  80,905	$  69,698	$	11,206	

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

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	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	-	

$	17,325	
4,818	
1,375	
6,484	
17,009	
8,819	
8,025	
6,011	
6,132	
250	
4,945	
10,000	
9,167	
32,083	
-	
-	

$	17,325	
4,883	
1,185	
6,484	
17,009	
-	
-	
1,750	
6,132	
415	
1,950	
27,500	
-	
-	
8,600	
24,438	

$	-	
(65)	
190	
(0)	
-	
8,819	
8,025	
4,261	
-	
(165)	
2,995	
(17,500)	
9,167	
32,083	
(8,600)	
(24,438)	

Subtotal Field Expenditures	$ 149,996	$ 132,443	$ 117,670	$	14,773	

Total Operations & Maintenance	$ 149,996	$ 132,443	$ 117,670	$	14,773	

Total Expenditures	$ 236,190	$ 213,348	$ 187,368	$	25,979	

Excess (Deficiency) of Revenues over Expenditure	$	-	$	22,009	$	54,390	$	32,380	

Net Change in Fund Balance	$	-	$  22,009	$  54,390	$	32,380	
	
Fund Balance - Beginning	$	-		$ 285,200		
	
Fund Balance - Ending	$	-		$ 339,590		

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

Adopted	Prorated Budg	Actual	
Budget	Thru 08/31/25	Thru 08/31/25	Variance	

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

$ 267,544	
1,100	

$ 268,139	
2,333	

$	595	
1,233	

Total Revenues	$ 268,744	$ 268,644	$ 270,472	$	1,828	
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)	$	(585)	$	1,243	$	1,828	

Net Change in Fund Balance	$	(485)	$	(585)	$	1,243	$	1,828	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$	88,540	

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	1,189	-	13,526	
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	$	1,189	$	-	$ 241,758	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	800	$	1,000	$	800	$	1,000	$	-	$	1,000	$	-	$	6,400	
PR-FICA	-	61	-	77	-	61	77	61	77	-	77	-	490	
Engineering	-	-	-	-	-	-	-	-	-	3,618	2,405	-	6,023	
Attorney	428	1,140	693	1,628	545	860	540	1,733	1,453	368	-	-	9,385	
Annual Audit	-	-	4,600	-	-	-	-	-	-	-	-	-	4,600	
Assessment Administration	4,200	-	-	-	-	-	-	-	-	-	-	-	4,200	
Dissemination Agent	88	88	88	88	88	88	88	88	88	88	88	-	963	
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	1,971	-	21,681	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	44	44	44	44	44	44	44	-	481	
Website Maintenance	96	96	96	96	96	96	96	96	96	96	96	-	1,059	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	7	4	8	6	6	-	14	8	312	3	6	-	374	
Insurance General Liability	7,945	-	-	-	-	-	-	-	-	-	-	-	7,945	
Printing & Binding	14	-	23	1	23	-	3	54	113	20	2	-	253	
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	242	-	2,059	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	5,038	$	3,063	$	4,067	$	3,931	$	5,233	$	6,199	$	6,477	$	5,930	$	-	$  72,103	

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	$	1,575	$	-	$	17,325	
Lake and Wetland Maintenance	438	438	438	438	438	438	451	451	451	451	451	-	4,883	
Fountain Maintenance	435	-	-	250	-	-	250	-	-	250	-	-	1,185	
Landscape Maintenance	589	589	589	589	589	589	589	589	589	589	589	-	6,484	
Plant Replacement	-	-	-	-	16,773	236	-	-	-	-	-	-	17,009	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	156	176	135	153	130	130	130	-	1,750	
Pest Control	557	557	557	557	557	557	557	557	557	557	557	-	6,132	
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	-	750	-	22,033	

Subtotal Field Expenditures	$	5,877	$	7,814	$	4,295	$	4,110	$  20,090	$	8,961	$	4,290	$  12,869	$  39,355	$	3,553	$	4,053	$	-	$ 115,265	

Total Operations & Maintenance	$	5,877	$	7,814	$	4,295	$	4,110	$  20,090	$	8,961	$	4,290	$  12,869	$  39,355	$	3,553	$	4,053	$	-	$ 115,265	

Total Expenditures	$  25,118	$  13,078	$  11,955	$	9,148	$  23,152	$  13,029	$	8,221	$  18,102	$  45,554	$  10,029	$	9,982	$	-	$ 187,368	

Excess (Deficiency) of Revenues over Expe	$  (24,156)	$	31,078	$  132,452	$	3,675	$  (15,735)	$	(7,078)	$	4,133	$  (12,860)	$  (43,640)	$	(4,685)	$	(8,794)	$	-	$	54,390	

Net Change in Fund Balance	$  (24,156)	$  31,078	$ 132,452	$	3,675	$  (15,735)	$	(7,078)	$	4,133	$  (12,860)	$  (43,640)	$	(4,685)	$	(8,794)	$	-	$  54,390	

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
Alvarez Engineers	8688
Broward County -Permits	$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
$2,405.00
$750.00	
$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
$2,405.00
$750.00	
TOTAL FY 2025	$33,037.65	$8,552.00	$8,600.00	$15,885.65	
					
TOTAL PAID	$33,037.65	$8,552.00	$8,600.00	$15,885.65	
	
	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	$417,456.65	$413,342.30	$0.00	$4,114.35	

Page 9