Florida Green Finance Authority

Proposed Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET III	PARTICPANTS

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

	
FISCAL YEAR 2018/2019
BUDGET	
Projected Carry Forward Surplus	100,000	
		
REVENUES		
O & M Funding Contributions	208,960	
O & M Assessments (Commercial)	9,326	
Loan Revenues (Residential)	4,446,400	
Bond/Loan Revenues (Commercial)	658,187	
Interest Income	240	
TOTAL REVENUES	$	5,323,113	
		
EXPENDITURES		
Management	30,000	
Legal	45,000	
Assessment Roll	20,080	
Audit Fees	8,000	
Insurance	3,507	
Legal Advertisements	15,000	
Miscellaneous	6,000	
New County Set-up Fee	3,000	
Dues - Department Of Economic Opportunity	175	
Dues - Palm Beach County League Of Cities	600	
Trustee Fees	7,500	
Website Management	1,500	
TOTAL EXPENDITURES	$	140,362	
		
REVENUES LESS EXPENDITURES	$	5,182,751	
		
Loan Payments (Residential)	(4,401,936)	
Bond/Loan Payments (Commercial)	(658,187)	
		
BALANCE	$	122,628	
		
Fees (Residential)	(44,464)	
Fees (Commercial)	(13,164)	
		
Excess/ (Shortfall)	$	65,000	
		
Projected Fund Balance	165,000	

Notes
Approximate Participants As Of May 2018 Commencing Fiscal Year 2017/2018: 567 Commencing Fiscal Year 2018/2019: 1,441 Total: 2,008

5/30/2018 12:41 PM	I

DETAILED PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 BUDGET	
FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	
Projected Carry Forward Surplus		25,000	100,000		
					
REVENUES					
O & M Funding Contributions	161,526	110,988	208,960	FY 2017/2018 O&M Revenue As Of 5-31-18 Were $161,979	
O & M Assessments (Commercial)	9,333	9,326	9,326	O & M Assessments (Commercial)	
Loan Revenues (Residential)	0	1,111,600	4,446,400	Loan Revenues (Residential)	
Bond/Loan Revenues (Commercial)	310,839	310,839	658,187	Bond/Loan Revenue (Commercial - Palm Beach & Miami-Dade)	
Interest Income	131	180	240	Interest Estimated At $20 Per Month	
TOTAL REVENUES	$	481,829	$	1,542,933	$	5,323,113		
					
EXPENDITURES					
Management	21,250	30,000	30,000	$2,500 Per Month	
Legal	22,754	20,000	45,000	FY 2017/2018 Legal Expenditures As Of 4-30-18 Were $32,303	
Assessment Roll	5,670	8,450	20,080	2,008 X $10 - Based On Approximate Participants As Of May 2018	
Audit Fees	3,700	6,000	8,000	Audit Fee Increased Due To Increased Activity	
Insurance	2,898	3,188	3,507	Insurance Company Estimate	
Legal Advertisements	12,004	4,000	15,000	$11,000 Increase From 2017/2018 Budget	
Miscellaneous	3,979	5,008	6,000	$1,000 Increase From 2017/2018 Budget	
New County Set-up Fee	0	0	3,000	Estimated At Three New Counties	
Dues - Department Of Economic Opportunity	175	175	175	No Change From 2017/2018 Budget	
Dues - Palm Beach County League Of Cities	600	600	600	Dues - Palm Beach County League Of Cities	
Trustee Fees	3,640	3,750	7,500	Increased Due To Second Commercial Bond	
Website Management	1,500	1,500	1,500	Website Management	
TOTAL EXPENDITURES	$	78,170	$	82,671	$	140,362		
					
REVENUES LESS EXPENDITURES	$	403,659	$	1,460,262	$	5,182,751		
					
Loan Payments (Residential)	0	(1,111,600)	(4,401,936)	Loan Payments (Residential)	
Bond/Loan Payments (Commercial)	(310,050)	(310,839)	(658,187)	Bond/Loan Payments (Commercial)	
					
BALANCE	$	93,609	$	37,823	$	122,628		
					
Fees (Residential)	0	(30,500)	(44,464)	Fees (Residential)	
Fees (Commercial)	(3,927)	(7,323)	(13,164)	Fees (Commercial)	
					
Excess/ (Shortfall)	$	89,682	$	-	$	65,000		
					
Projected Fund Balance	0	25,000	165,000		

Notes
Approximate Participants As Of May 2018 Commencing Fiscal Year 2017/2018: 567 Commencing Fiscal Year 2018/2019: 1,441 Total: 2,008

5/30/2018 12:41 PM	II

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF MAY 2018

COUNTY	
COMMENCING FISCAL YEAR 2017/2018	
COMMENCING FISCAL YEAR 2018/2019	

TOTAL	
				
Alachua	21	10	31	
Brevard	0	1	1	
Broward	334	570	904	
Charlotte	4	26	30	
Collier	0	5	5	
Hernando	0	1	1	
Hillsborough	69	290	359	
Levy	1	1	2	
Marion	18	25	43	
Martin	10	0	10	
Miami-Dade	0	163	163	
Orange	9	14	23	
Palm Beach	29	122	151	
Pasco	72	210	282	
Seminole	0	3	3	
				
	567	1,441	2,008	

Notes: 2018/2019 Numbers Are Approximates

5/30/2018 12:41 PM	III