Florida Green Finance Authority

Amended Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

COMMERCIAL BONDS RECAP

OPERATING FUND FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

	FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23	AMENDED FINAL BUDGET
10/1/22 - 9/30/23	YEAR TO DATE ACTUAL
10/1/22 - 9/29/23	
				
REVENUES				
Carry Forward Surplus	100,000	0	0	
O & M Funding Contributions	211,864	262,588	262,588	
Loan Revenues (Residential)	18,000,000	24,894,209	24,894,209	
Bond/Loan Revenues (Commercial)	10,000	11,303	11,303	
Other Revenue	73,542	16,416	16,416	
Other Revenue - Annual Program Fee	0	36,771	36,771	
Interest Income	300	12,362	12,362	
TOTAL REVENUES	$	18,395,706	$	25,233,649	$	25,233,649	
				
VARIABLE EXPENDITURES				
Assessment Roll	131,010	187,940	187,940	
Miscellaneous	9,516	68,929	11,208	
TOTAL VARIABLE EXPENDITURES	$	140,526	$	256,869	$	199,148	
				
FIXED EXPENDITURES (Residential & Commercial)				
Management	37,080	37,080	37,080	
Legal	57,000	59,283	59,283	
Audit Fees	15,000	13,000	13,000	
Insurance	3,900	3,680	3,680	
Legal Advertisements	12,000	5,500	4,339	
New County Set-up Fee	3,000	1,000	1,000	
Dues & Subscriptions	1,200	800	800	
Trustee Fees	4,000	0	0	
Website Management	2,000	1,500	1,500	
Financial Advisory Services	10,000	0	0	
TOTAL FIXED EXPENDITURES	$	145,180	$	121,843	$	120,682	
				
TOTAL EXPENDITURES	$	285,706	$	378,712	$	319,830	
				
REVENUES LESS EXPENDITURES	$	18,110,000	$	24,854,937	$	24,913,819	
				
Loan Payments (Residential)	(17,750,000)	(24,598,795)	(24,598,795)	
Bond/Loan Payments (Commercial)	0	(11,303)	(11,303)	
				
BALANCE	$	360,000	$	244,839	$	303,721	
				
Fees (Residential)	(250,000)	(304,869)	(304,869)	
Fees (Commercial)	0	(189)	(189)	
				
Excess/ (Shortfall)	$	110,000	$	(60,219)	$	(1,337)	
				
Program Reinvestment	(110,000)	(121,615)	0	
				
Net Excess/ (Shortfall)	$	-	$	(181,834)	$	(1,337)	

Fund Balance As Of 9/30/2022	
Projected FY 2022/2023 Activity	
Projected Fund Balance As Of 9/30/2023	

$281,834	
($181,834)	
$100,000	

COMMERCIAL BONDS RECAP FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

BOND ISSUE	
ORIGINAL PAR
AMOUNT	
CURRENT PAR
AMOUNT	
MATURITY DATE	
ANNUAL ASSESSMENT
AMOUNT	FISCAL YEAR 2022/2023
PRINCIPAL PAYMENTS	FISCAL YEAR 2022/2023
INTEREST PAYMENTS	
							
Series 2014 Loan (E&M Spirits)	
$46,550.00	
$0.00	
May 2023	
$10,818.36	
$10,204.87	$613.49	
Series 2015-1 (Brandsmart Project)	
$2,225,700.00	
$0.00	
-----	
$0.00	
$0.00	$0.00	
Series 2018 (Dadeland Mall Project)	
$2,595,468.73	
$1,725,209.81	
November 2028	
$350,856.55	
$235,995.13	$104,708.28	
Series 2018A (Orlando Outlets Project)	
$5,562,289.94	
$5,056,955.96	
November 2039	
$496,899.34	
$164,747.14	$322,021.82	
Series 2020-A (Avid Viera)	
$3,471,908.43	
$0.00	
-----	
$0.00	
$3,471,908.43	$343,027.47	
Series 2020-B (Home 2 - Palm Bay)	
$3,930,000.00	
$3,857,155.38	
November 2046	
$312,209.65	
$72,844.62	$228,964.00	
Series 2020-C (Hyatt - Palm Bay)	
$5,643,500.00	
$5,538,894.75	
November 2046	
$447,438.17	
$104,605.25	$328,793.47	
Series 2020-D (Pruitt Health - Lutz)	
$3,340,018.09	
$3,340,018.09	
November 2047	
$261,701.69	
$0.00	$195,518.63	
Series 2021-1 (Le Meridien)	
$37,650,000.00	
$37,650,000.00	
November 2047	
$2,683,983.39	
$0.00	$1,916,489.59	
Series 2021-2 (Sheraton - Palmetto)	
$30,600,000.00	
$30,600,000.00	
November 2048	
$2,343,740.35	
$0.00	$1,768,425.00	
Series 2022-1 (Pruitt Health - Pensacola)	
$5,335,050.00	
$5,335,050.00	
November 2048	
$411,818.77	
$0.00	$312,648.75	
Series 2022-2 (Certus Waterford Lakes)	
$7,200,000.00	
$7,200,000.00	
November 2048	
$564,980.35	
$0.00	$434,350.00	
Series 2022-3 (Spanish Moss Apartments)	
$3,961,068.11	
$3,961,068.11	
November 2047	
$328,485.94	
$0.00	$187,811.84	
Series 2022-4 (Certus Vero Beach)	
$8,640,000.00	
$8,640,000.00	
November 2050	
$668,380.00	
$0.00	$250,874.40	
Total	
$120,201,553.30	
$112,904,352.10		
$8,881,312.56	
$4,060,305.44	
$6,394,246.74	
			.				

Notes:

BrandsMart Paid Off Series 2015-1 Bond In May 2021.						

Avid Viera Paid Off Series 2020-A Bond In February 2023.