Griffin Lakes	
Community Development District	

Unaudited Financial Reporting	
April 30, 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	
April 30, 2025		
General	Debt Service	Totals	
Fund	Fund	Governmental Funds	
Assets:

$	26,569	
-	

$	-	
13,250	

$	26,569	
13,250	

Cash:
Operating Account Due from General Fund

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

143,672	
254,206	

-	
-	

143,672	
254,206	

Series 2020	
Reserve	
Revenue	

-	
-	

26,754	
281,002	

-	
26,754	
281,002	

Total Assets	$	424,448	$	321,006	$	745,454	
Liabilities:	
Accounts Payable	$	-	$	-		$	-	
FICA Payable	31		-	31	
Due to Debt Service	13,250		-	13,250	

Total Liabilites

$

13,281

$

-

$

13,281

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

$	-	$

321,006	$

321,006

65,000	
346,167	

	
-	
-	

	
65,000	
346,167	

Total Fund Balances	$	411,167	$	321,006	$	732,174	
				
Total Liabilities & Fund Balance	$	424,448	$	321,006	$	745,454	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending April 30, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

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

$ 226,190	
5,833	
-	

$ 220,018	
7,491	
560	

$	(6,172)	
1,657	
560	

Total Revenues	$ 236,190	$ 232,024	$ 228,069	$	(3,955)	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	7,000	$	3,600	$	3,400	
PR-FICA	918	536	275	260	
Engineering	10,000	5,833	11,056	(5,222)	
Attorney	13,000	7,583	5,293	2,291	
Annual Audit	4,600	4,600	4,600	-	
Assessment Administration	4,200	4,200	4,200	-	
Dissemination Agent	1,050	613	613	-	
Trustee Fees	4,100	4,100	4,041	59	
Management Fees	23,652	13,797	13,797	0	
Property Appraiser	854	854	854	-	
Information Technology	525	306	306	-	
Website Maintenance	1,155	674	674	-	
Telephone	50	29	-	29	
Postage & Delivery	175	102	45	57	
Insurance General Liability	8,190	8,190	7,945	245	
Printing & Binding	400	233	64	170	
Legal Advertising	500	292	140	152	
Office Supplies	50	29	-	29	
Dues, Licenses & Subscriptions	175	175	175	-	
Contingency	600	600	1,105	(505)	
Total General & Administrative	$  86,194	$  59,746	$  58,781	$	966	

Griffin Lakes	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending April 30, 2025	

Adopted	Prorated Budget	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	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	

$	11,025	
3,066	
875	
4,126	
17,009	
-	
-	
3,825	
3,902	
250	
3,147	
-	
5,833	
-	

$	11,025	
3,079	
685	
4,126	
17,009	
-	
-	
1,130	
3,902	
415	
1,950	
-	
-	
-	

$	-	
(13)	
190	
-	
-	
-	
-	
2,695	
0	
(165)	
1,197	
-	
5,833	
-	

Subtotal Field Expenditures	$ 149,996	$  53,059	$  43,321	$	9,738	

Total Operations & Maintenance	$ 149,996	$  53,059	$  43,321	$	9,738	

Total Expenditures	$ 236,190	$ 112,805	$ 102,101	$	10,703	

Excess (Deficiency) of Revenues over Expenditure	$	-	$ 119,219	$ 125,967	$	6,749	

Net Change in Fund Balance	$	-	$ 119,219	$ 125,967	$	6,749	
	
Fund Balance - Beginning	$	-		$ 285,200		
	
Fund Balance - Ending	$	-		$ 411,167		

Griffin Lakes	
Community Development District	
Debt Service Fund Series 2020	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending April 30, 2025	

Adopted	Prorated Budg	Actual	
Budget	Thru 04/30/25	Thru 04/30/25	Variance	

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

$ 267,544	
700	

$ 259,216	
1,608	

$	(8,328)	
908	

Total Revenues	$ 268,744	$ 268,244	$ 260,824	$	(7,420)	
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)	$ 241,129	$ 233,709	$	(7,420)	

Net Change in Fund Balance	$	(485)	$ 241,129	$ 233,709	$	(7,420)	
		
Fund Balance - Beginning	$	72,673	$	87,297	
		
Fund Balance - Ending	$	72,188	$ 321,006	

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	$	-	$	-	$	-	$	-	$	-	$  220,018	
Interest	963	881	919	1,443	1,304	1,445	536	-	-	-	-	-	7,491	
Miscellaneous Revenue	-	-	-	-	560	-	-	-	-	-	-	-	560	

Total Revenues	$	963	$  44,156	$ 144,407	$  12,823	$	7,417	$	5,950	$  12,354	$	-	$	-	$	-	$	-	$	-	$ 228,069	
Expenditures:														
General & Administrative:														
Supervisor Fees	$	-	$	800	$	-	$	1,000	$	-	$	800	$	1,000	$	-	$	-	$	-	$	-	$	-	$	3,600	
PR-FICA	-	61	-	77	-	61	77	-	-	-	-	-	275	
Engineering	-	-	-	1,005	571	4,090	5,390	-	-	-	-	-	11,056	
Attorney	428	1,140	693	1,628	545	860	-	-	-	-	-	-	5,293	
Annual Audit	-	-	4,600	-	-	-	-	-	-	-	-	-	4,600	
Assessment Administration	4,200	-	-	-	-	-	-	-	-	-	-	-	4,200	
Dissemination Agent	88	88	88	88	88	88	88	-	-	-	-	-	613	
Trustee Fees	4,041	-	-	-	-	-	-	-	-	-	-	-	4,041	
Management Fees	1,971	1,971	1,971	1,971	1,971	1,971	1,971	-	-	-	-	-	13,797	
Property Appraiser	-	854	-	-	-	-	-	-	-	-	-	-	854	
Information Technology	44	44	44	44	44	44	44	-	-	-	-	-	306	
Website Maintenance	96	96	96	96	96	96	96	-	-	-	-	-	674	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	7	4	8	6	6	-	14	-	-	-	-	-	45	
Insurance General Liability	7,945	-	-	-	-	-	-	-	-	-	-	-	7,945	
Printing & Binding	14	-	23	1	23	-	3	-	-	-	-	-	64	
Legal Advertising	-	-	-	-	140	-	-	-	-	-	-	-	140	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Contingency	234	206	139	129	151	148	99	-	-	-	-	-	1,105	
Total General & Administrative	$  19,242	$	5,264	$	7,660	$	6,043	$	3,633	$	8,157	$	8,781	$	-	$	-	$	-	$	-	$	-	$  58,781	

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	$	-	$	-	$	-	$	-	$	-	$	11,025	
Lake and Wetland Maintenance	438	438	438	438	438	438	451	-	-	-	-	-	3,079	
Fountain Maintenance	435	-	-	250	-	-	-	-	-	-	-	-	685	
Landscape Maintenance	589	589	589	589	589	589	589	-	-	-	-	-	4,126	
Plant Replacement	-	-	-	-	16,773	236	-	-	-	-	-	-	17,009	
Mulch & Palm pruning	-	-	-	-	-	-	-	-	-	-	-	-	-	
Tree Pruning/Trimming	-	-	-	-	-	-	-	-	-	-	-	-	-	
Irrigation Repair & Maintenance	214	267	130	130	130	130	130	-	-	-	-	-	1,130	
Pest Control	557	557	557	557	557	557	557	-	-	-	-	-	3,902	
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	$	3,303	$	-	$	-	$	-	$	-	$	-	$  43,321	

Total Operations & Maintenance	$	5,759	$	3,841	$	3,290	$	3,540	$  20,063	$	3,525	$	3,303	$	-	$	-	$	-	$	-	$	-	$  43,321	

Total Expenditures	$  25,001	$	9,105	$  10,950	$	9,582	$  23,696	$  11,683	$  12,084	$	-	$	-	$	-	$	-	$	-	$ 102,101	

Excess (Deficiency) of Revenues over Expe	$  (24,038)	$	35,050	$  133,457	$	3,240	$  (16,279)	$	(5,733)	$	270	$	-	$	-	$	-	$	-	$	-	$  125,967	

Net Change in Fund Balance	$  (24,038)	$  35,050	$ 133,457	$	3,240	$  (16,279)	$	(5,733)	$	270	$	-	$	-	$	-	$	-	$	-	$ 125,967	

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	
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	
	$	506,474.85	$	18,347.38	$	9,762.54	$	868.51	$	479,233.44	$	220,017.82	$	259,215.62	$	479,233.44	

96.43%
$	18,774.25

Percent Collected Balance Remaining to Collect

Page 8