Florida Green Finance Authority

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET III	PARTICPANTS

FINAL BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

	
FISCAL YEAR 2020/2021
BUDGET	
Projected Carry Forward Surplus	100,000	
		
REVENUES		
O & M Funding Contributions	228,304	
O & M Assessments (Commercial)	9,326	
Loan Revenues (Residential)	10,000,000	
Bond/Loan Revenues (Commercial)	1,450,000	
Other Revenue	0	
Interest Income	300	
TOTAL REVENUES	$	11,687,930	
		
VARIABLE EXPENDITURES		
Assessment Roll	91,130	
Miscellaneous	9,000	
TOTAL VARIABLE EXPENDITURES	$	100,130	
		
FIXED EXPENDITURES		
Management	36,000	
Legal	57,000	
Audit Fees	15,000	
Insurance	3,500	
Legal Advertisements	15,000	
New County Set-up Fee	1,000	
Dues	800	
Trustee Fees	7,500	
Website Management	2,000	
TOTAL FIXED EXPENDITURES	$	137,800	
		
TOTAL EXPENDITURES	$	237,930	
		
REVENUES LESS EXPENDITURES	$	11,450,000	
		
Loan Payments (Residential)	(9,850,000)	
Bond/Loan Payments (Commercial)	(1,430,000)	
		
BALANCE	$	170,000	
		
Fees (Residential)	(150,000)	
Fees (Commercial)	(20,000)	
		
Excess/ (Shortfall)	$	-	
		
Program Reinvestment	0	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Notes
Approximate Participants As Of August 2020 Commencing Fiscal Year 2017/2018: 510 Commencing Fiscal Year 2018/2019: 1,602 Commencing Fiscal Year 2019/2020: 2,595 Commencing Fiscal Year 2020/2021: 4,406 Total: 9,113

8/27/2020 3:07 PM	I

DETAILED FINAL BUDGET FLORIDA GREEN FINANCE AUTHORITY FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Projected Carry Forward Surplus		180,000	100,000		
					
REVENUES					
O & M Funding Contributions	382,000	300,000	228,304	FY 2020/2021 Projection	
O & M Assessments (Commercial)	9,316	9,326	9,326	O & M Assessments (Commercial)	
Loan Revenues (Residential)	3,961,088	7,500,000	10,000,000	Loan Revenues (Residential)	
Bond/Loan Revenues (Commercial)	1,046,973	1,150,000	1,450,000	Bond/Loan Revenue (Commercial - Orange, Miami-Dade, Palm Beach & Brevard)	
Other Revenue	4,985	0	0		
Interest Income	675	300	300	Interest Estimated At $25 Per Month	
TOTAL REVENUES	$ 5,405,037	$ 8,959,626	$ 11,687,930		
					
VARIABLE EXPENDITURES					
Assessment Roll	51,530	43,170	91,130	9,113 X $10 - Based On Approximate Participants As Of August 2020	
Miscellaneous	2,034	9,656	9,000	$656 Decrease From 2019/2020 Budget	
TOTAL VARIABLE EXPENDITURES	$	53,564	$	52,826	$	100,130		
					
FIXED EXPENDITURES					
Management	30,000	30,000	36,000	$3,000 Per Month	
Legal	56,862	65,000	57,000	FY 2019/2020 Legal Expenditures As Of 7-31-20 Were $45,261	
Audit Fees	12,500	20,000	15,000	$5,000 Decrease From 2019/2020 Budget	
Insurance	3,000	3,500	3,500	Insurance Estimate	
Legal Advertisements	7,449	15,000	15,000	No Change From 2019/2020 Budget	
New County Set-up Fee	8,000	3,000	1,000	Estimated At One New County	
Dues	800	800	800	No Change From 2019/2020 Budget	
Trustee Fees	3,640	7,500	7,500	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
TOTAL FIXED EXPENDITURES	$	123,751	$	146,800	$	137,800		
					
TOTAL EXPENDITURES	$	177,315	$	199,626	$	237,930		
					
REVENUES LESS EXPENDITURES	$ 5,405,003	$ 8,959,592	$ 11,450,000		
					
Loan Payments (Residential)	(3,930,473)	(7,410,000)	(9,850,000)	Loan Payments (Residential)	
Bond/Loan Payments (Commercial)	(1,039,300)	(1,135,000)	(1,430,000)	Bond/Loan Payments (Commercial)	
					
BALANCE	$	435,230	$	414,592	$	170,000		
					
Fees (Residential)	(26,882)	(90,000)	(150,000)	Fees (Residential)	
Fees (Commercial)	(10,450)	(15,000)	(20,000)	Fees (Commercial)	
					
Excess/ (Shortfall)	$	397,898	$	309,592	$	-		
					
Program Reinvestment	(339,114)	0	0	Program Reinvestment	
					
Net Excess/ (Shortfall)	$	58,784	$	309,592	$	-		
					
Projected Fiscal Year-End Fund Balance	0	489,592	100,000		

Notes
Approximate Participants As Of August 2020 Commencing Fiscal Year 2017/2018: 510 Commencing Fiscal Year 2018/2019: 1,602 Commencing Fiscal Year 2019/2020: 2,595 Commencing Fiscal Year 2020/2021: 4,406 Total: 9,113

8/27/2020 3:07 PM	II

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF AUGUST 2020

COUNTY	
COMMENCING FISCAL YEAR 2017/2018	
COMMENCING FISCAL YEAR 2018/2019	
COMMENCING FISCAL YEAR 2019/2020	
COMMENCING FISCAL YEAR 2020/2021	

TOTAL	
						
Alachua	21	10	9	2	42	
Brevard	0	1	118	91	210	
Broward	334	661	767	1,139	2,901	
Charlotte	4	37	58	104	203	
Citrus	0	1	27	23	51	
Collier	0	9	30	12	51	
Hernando	0	9	105	90	204	
Hillsborough	69	340	338	469	1,216	
Lee	0	0	16	48	64	
Levy	1	1	2	4	8	
Manatee	0	9	54	122	185	
Marion	18	26	21	56	121	
Martin	7	0	6	39	52	
Miami-Dade	0	230	769	998	1,997	
Orange	9	16	35	49	109	
Osceola	0	1	105	218	324	
Palm Beach	29	158	380	774	1,341	
Pasco	72	260	283	211	826	
Polk	0	0	0	5	5	
Sarasota	0	0	33	153	186	
Seminole	0	4	3	10	17	
Volusia	0	0	3	5	8	
Sub-Total	564	1,773	3,162	4,622	10,121	
						
Less Prepayments	54	171	567	216	1,008	
						
Total	510	1,602	2,595	4,406	9,113	

Notes: 2020/2021 Numbers Are Approximates.

8/27/2020 3:07 PM	III