Florida Green Finance Authority

Amended Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

COMMERCIAL BONDS RECAP

AMENDED FINAL BUDGET
FLORIDA GREEN FINANCE AUTHORITY OPERATING FUND
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

	FISCAL YEAR	AMENDED	YEAR	
	2023/2024	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/23 - 9/30/24	10/1/23 - 9/30/24	10/1/23 - 9/29/24	
				
REVENUES				
				
Carry Forward Surplus	100,000	0	0	
O & M Funding Contributions	270,000	187,470	187,470	
Loan Revenues (Residential)	18,540,000	43,799,364	43,799,364	
Bond/Loan Revenues (Commercial)	0	500	500	
Other Revenue - Program Fee	73,542	36,184	36,184	
Other Revenue - Program Sponsor	10,000	114,921	114,921	
Other Revenue - Miscellaneous	0	2,500	2,500	
Interest Income	300	38,427	38,427	
TOTAL REVENUES	$	18,993,842	$	44,179,366	$	44,179,366	
				
VARIABLE EXPENDITURES				
Assessment Roll	201,670	243,088	243,088	
Miscellaneous	10,000	10,000	0	
TOTAL VARIABLE EXPENDITURES	$	211,670	$	253,088	$	243,088	
				
FIXED EXPENDITURES (Residential & Commercial)				
Management	38,134	43,910	43,910	
Legal	57,000	106,000	101,773	
Audit Fees	15,000	15,000	0	
Insurance	3,900	3,956	3,956	
Legal Advertisements	9,000	7,500	3,123	
New County Set-up Fee	1,000	0	0	
Dues & Subscriptions	1,200	815	815	
Trustee Fees	4,000	4,000	0	
Website Management	2,000	1,500	1,500	
Miscellaneous - Postage, Office Supplies, Etc.	1,500	3,000	2,724	
Commercial Closing Fee	0	60,485	60,485	
Palm Beach County Pace Project Fees	0	19,124	19,124	
Financial Advisory Services	10,000	0	0	
TOTAL FIXED EXPENDITURES	$	142,734	$	265,290	$	237,410	
				
TOTAL EXPENDITURES	$	354,404	$	518,378	$	480,498	
				
REVENUES LESS EXPENDITURES	$	18,639,438	$	43,660,988	$	43,698,868	
				
Loan Payments (Residential)	(18,280,000)	(43,284,422)	(43,284,422)	
Bond/Loan Payments (Commercial)	0	(485)	(485)	
				
BALANCE	$	359,438	$	376,081	$	413,961	
				
Fees (Residential)	(260,000)	(476,378)	(476,378)	
Fees (Commercial)	0	(15)	(15)	
				
Excess/ (Shortfall)	$	99,438	$	(100,312)	$	(62,432)	
				
Program Reinvestment	(110,000)	(78,311)	0	
				
Net Excess/ (Shortfall)	$	(10,562)	$	(178,623)	$	(62,432)	

Fund Balance As Of 9/30/2023	
Projected FY 2023/2024 Activity	
Projected Fund Balance As Of 9/30/2024	

$278,623	
($178,623)	
$100,000	

AMENDED FINAL BUDGET FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS RECAP
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

BOND ISSUE	ORIGINAL PAR
AMOUNT	CURRENT PAR
AMOUNT	
MATURITY DATE	ANNUAL ASSESSMENT
AMOUNT	FISCAL YEAR 2023/2024
PRINCIPAL PAYMENTS	FISCAL YEAR 2023/2024
INTEREST PAYMENTS	
							
Series 2014 Loan (E&M Spirits)	$46,550.00	$0.00	May 2023	$0.00	$0.00	$0.00	
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	$1,475,815.41	November 2028	$350,856.55	$249,394.40	$91,161.31	
Series 2018A (Orlando Outlets Project)	$5,562,289.94	$4,881,886.06	November 2039	$496,899.34	$175,069.90	$311,375.64	
Series 2020-A (Avid Viera)	$3,471,908.43	$0.00	-----	$0.00	$0.00	$0.00	
Series 2020-B (Home 2 - Palm Bay)	$3,930,000.00	$3,780,027.08	November 2046	$312,209.65	$77,128.30	$224,554.38	
Series 2020-C (Hyatt - Palm Bay)	$5,643,500.00	$5,428,138.12	November 2046	$447,438.17	$110,756.63	$322,461.23	
Series 2020-D (Pruitt Health - Lutz)	$3,340,018.09	$3,277,666.84	November 2047	$261,701.69	$62,351.25	$192,900.92	
Series 2021-1 (Le Meridien)	$37,650,000.00	$36,868,662.45	November 2047	$2,683,983.39	$781,337.55	$1,569,778.75	
Series 2021-2 (Sheraton - Palmetto)	$30,600,000.00	$30,600,000.00	November 2048	$2,343,740.35	$0.00	$1,775,692.50	
Series 2022-1 (Pruitt Health - Pensacola)	$5,335,050.00	$5,335,050.00	November 2048	$411,818.77	$0.00	$313,933.60	
Series 2022-2 (Certus Waterford Lakes)	$7,200,000.00	$7,200,000.00	November 2048	$564,980.35	$0.00	$436,135.00	
Series 2022-3 (Spanish Moss Apartments)	$3,961,068.11	$3,961,068.11	November 2047	$328,485.94	$0.00	$247,263.08	
Series 2022-4 (Certus Vero Beach)	$8,640,000.00	$8,640,000.00	November 2050	$668,380.00	$0.00	$670,219.20	
Series 2023-1 (Proper South Beach)	$31,569,161.68	$31,569,161.68	November 2051	$2,877,485.00	$0.00	$0.00	
Series 2023-2 (Marriott Palmetto)	$14,400,000.00	$14,400,000.00	November 2053	$1,251,355.67	$0.00	$0.00	
Series 2024 (Delray Beach Market)	$14,515,442.07	$14,515,442.07	November 2053	$1,202,383.00	$0.00	$0.00	
Total	$180,686,157.05	$171,932,917.82		$14,201,717.87	$1,456,038.03	$6,155,475.61	
			.				
Notes:

BrandsMart Paid Off Series 2015-1 Bond In May 2021.						
						
Avid Viera Paid Off Series 2020-A Bond In February 2023.