Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
February 28, 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	
February 28, 2025		
General	Debt Service	Totals	
Fund	Fund	Governmental Funds	
Assets:

$	17,795	
-	

$	-	
6,568	

$	17,795	
6,568	

Cash:
Operating Account Due from General Fund

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

152,552	
253,396	

-	
-	

152,552	
253,396	

Series 2020	
Reserve	
Revenue	

-	
-	

26,754	
268,357	

-	
26,754	
268,357	

Total Assets	$	423,742	$	301,678	$	725,421	
Liabilities:	
Due to Debt Service	$	6,568	-	6,568	

Total Liabilites

$

6,568

$

-

$

6,568

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

$	-	$

301,678	$

301,678

65,000	
352,175	

	
-	
-	

	
65,000	
352,175	

Total Fund Balances	$	417,175	$	301,678	$	718,853	
				
Total Liabilities & Fund Balance	$	423,742	$	301,678	$	725,421	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending February 28, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 02/28/25	Thru 02/28/25	Variance	

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

$ 203,695	
4,167	
-	

$ 203,695	
5,510	
560	

$	-	
1,343	
560	

Total Revenues	$ 236,190	$ 207,861	$ 209,765	$	1,904	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	5,000	$	1,800	$	3,200	
PR-FICA	918	383	138	245	
Engineering	10,000	4,167	1,576	2,591	
Attorney	13,000	5,417	3,888	1,529	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	438	438	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	9,855	9,855	0	
Property Appraiser	854	854	854	-	
Information Technology	525	219	219	-	
Website Maintenance	1,155	481	481	-	
Telephone	50	21	-	21	
Postage & Delivery	175	73	30	43	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	167	61	106	
Legal Advertising	500	208	140	69	
Office Supplies	50	21	-	21	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	859	(259)	
Total General & Administrative	$  86,194	$  49,167	$  41,297	$	7,870	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending February 28, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 02/28/25	Thru 02/28/25	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	

$	7,875	
2,190	
625	
2,947	
16,773	
-	
-	
2,732	
2,787	
250	
2,248	
-	
4,167	
-	

$	7,875	
2,190	
685	
2,947	
16,773	
-	
-	
870	
2,787	
415	
1,950	
-	
-	
-	

$	-	
-	
(60)	
(0)	
-	
-	
-	
1,862	
-	
(165)	
298	
-	
4,167	
-	

Subtotal Field Expenditures	$ 149,996	$  42,595	$  36,493	$	6,102	

Total Operations & Maintenance	$ 149,996	$  42,595	$  36,493	$	6,102	

Total Expenditures	$ 236,190	$  91,762	$  77,790	$	13,971	

Excess (Deficiency) of Revenues over Expenditure	$	-	$ 116,100	$ 131,975	$	15,875	

Other Financing Sources/(Uses):

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

Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
	
Net Change in Fund Balance	$	-	$ 116,100	$ 131,975	$	15,875	
	
Fund Balance - Beginning	$	-		$ 285,200		
	
Fund Balance - Ending	$	-		$ 417,175		

Griffin Lakes	
Community Development District	
Debt Service Fund Series 2020	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending February 28, 2025	

Adopted	Prorated Budg	Actual	
Budget	Thru 02/28/25	Thru 02/28/25	Variance	

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

$ 240,636	
500	

$ 240,636	
859	

$	-	
359	

Total Revenues	$ 268,744	$ 241,136	$ 241,496	$	359	
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)	$ 214,022	$ 214,381	$	359	

Other Financing Sources/(Uses):

Transfer In/(Out)	$	-	

$	-	$

-	$	-

Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
		
Net Change in Fund Balance	$	(485)	$ 214,022	$ 214,381	$	359	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$ 301,678	

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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  203,695	
Interest	963	881	919	1,443	1,304	-	-	-	-	-	-	-	5,510	
Miscellaneous Revenue	-	-	-	-	560	-	-	-	-	-	-	-	560	

Total Revenues	$	963	$  44,156	$ 144,407	$  12,823	$	7,417	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 209,765	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,800	
PR-FICA	-	61	-	77	-	-	-	-	-	-	-	-	138	
Engineering	-	-	-	1,005	571	-	-	-	-	-	-	-	1,576	
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	-	-	-	-	-	-	-	438	
Trustee Fees	4,041	-	-	-	-	-	-	-	-	-	-	-	4,041	
Management Fees	1,971	1,971	1,971	1,971	1,971	-	-	-	-	-	-	-	9,855	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	44	-	-	-	-	-	-	-	219	
Website Maintenance	96	96	96	96	96	-	-	-	-	-	-	-	481	
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	-	-	-	-	-	-	-	859	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	6,043	$	3,088	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  41,297	

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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,875	
Lake and Wetland Maintenance	438	438	438	438	438	-	-	-	-	-	-	-	2,190	
Fountain Maintenance	435	-	-	250	-	-	-	-	-	-	-	-	685	
Landscape Maintenance	589	589	589	589	589	-	-	-	-	-	-	-	2,947	
Plant Replacement	-	-	-	-	16,773	-	-	-	-	-	-	-	16,773	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	130	-	-	-	-	-	-	-	870	
Pest Control	557	557	557	557	557	-	-	-	-	-	-	-	2,787	
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	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  36,493	

Total Operations & Maintenance	$	5,759	$	3,841	$	3,290	$	3,540	$  20,063	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  36,493	

Total Expenditures	$  25,001	$	9,105	$  10,950	$	9,582	$  23,151	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  77,790	

Excess (Deficiency) of Revenues over Expe	$  (24,038)	$	35,050	$  133,457	$	3,240	$  (15,734)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  131,975	

Net Change in Fund Balance	$  (24,038)	$  35,050	$ 133,457	$	3,240	$  (15,734)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 131,975	

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	
	$	471,630.68	$	18,236.68	$	9,062.81	$	-		$	444,331.19	$	203,694.82	$	240,636.37	$	444,331.19	

89.79%
$	53,618.42

Percent Collected Balance Remaining to Collect

Page 8