Florida Green	
Finance Authority	

Proposed Budget For	
Fiscal Year 2025/2026	
October 1, 2025 - September 30, 2026	

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

COMMERCIAL BUDGET

RESIDENTIAL BUDGET
PARTICIPANTS

COMMERCIAL BONDS

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Combined Commercial and Residential)

	
FISCAL YEAR	
	2025/2026	
	BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	270,000	
O & M Assessments (Commercial)	0	
Loan Revenues (Residential)	20,136,371	
Loan Revenues (Commercial)	0	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	167,600	
Interest Income	300	
TOTAL REVENUES	$	20,684,271	
		
VARIABLE EXPENDITURES		
Assessment Roll	291,071	
Miscellaneous	10,000	
TOTAL VARIABLE EXPENDITURES	$	301,071	
		
FIXED EXPENDITURES		
Management	48,000	
Legal	90,000	
Audit Fees	16,500	
Insurance	15,000	
Legal Advertisements	9,000	
Travel/Conference	15,000	
New County Set-up Fee	1,000	
Dues & Subscriptions	1,200	
Trustee Fees	4,000	
Website Management	2,000	
Miscellaneous - postage, office supplies, etc.	1,500	
Commercial Closing Fee	60,000	
Palm Beach County Pace Project Fees	20,000	
Financial Advisory Fees	10,000	
TOTAL FIXED EXPENDITURES	$	293,200	
		
TOTAL EXPENDITURES	$	594,271	
		
REVENUES LESS EXPENDITURES	$	20,090,000	
		
Loan Payments (Residential)	(19,700,000)	
Loan Payments (Commercial)	0	
		
BALANCE	$	390,000	
		
Fees (Residential)	(280,000)	
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	110,000	
		
Program Reinvestment (Residential)	(100,000)	
Program Reinvestment (Commercial)	(10,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll). Approx. Additions For 2025/2026 (before any prepayments): 6,356

6/20/2025 10:16 AM	I

DETAILED PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Combined Commercial and Residential)

	
FISCAL YEAR	
FISCAL YEAR	
FISCAL YEAR	

COMMENTS	
	2023/2024	2024/2025	2025/2026		
	ACTUAL	BUDGET	BUDGET		
					
REVENUES					
Projected Carry Forward Surplus	0	100,000	100,000		
O & M Funding Contributions	187,470	270,000	270,000	No Change From 2024/2025 Budget	
O & M Assessments (Commercial)	0	0	0	BrandsMart Has Paid Off 2015-1 Bond	
Loan Revenues (Residential)	43,799,364	20,025,905	20,136,371	Loan Revenues (Residential)	
Loan Revenues (Commercial)	500	0	0	Loan Revenues (Commercial)	
Other Revenue - Commercial Closing Fees	2,500	10,000	10,000		
Other Revenue - Administrator Cost Sharing	151,105	87,050	167,600		
Interest Income	38,427	300	300	Interest Estimated At $25 Per Month	
TOTAL REVENUES	$	44,179,366	$	20,493,255	$	20,684,271		
					
VARIABLE EXPENDITURES					
Assessment Roll	243,088	221,155	291,071	26,461 X $11 - Based On Approximate Participants	
Miscellaneous	0	10,000	10,000	Miscellaneous	
TOTAL VARIABLE EXPENDITURES	$	243,088	$	231,155	$	301,071		
					
FIXED EXPENDITURES					
Management	43,910	48,000	48,000	No Change From 2024/2025 Budget	
Legal	101,773	75,000	90,000	$15,000 Increase From 2024/2025 Budget	
Audit Fees	0	16,500	16,500	Per Contract	
Insurance	3,956	3,900	15,000	Insurance Estimate	
Legal Advertisements	3,123	9,000	9,000	No Change From 2024/2025 Budget	
Travel/Conference	0	0	15,000	New Budget Item	
New County Set-up Fee	0	1,000	1,000	Estimated At One New County	
Dues & Subscriptions	815	1,200	1,200	No Change From 2024/2025 Budget	
Trustee Fees	0	4,000	4,000	No Change From 2024/2025 Budget	
Website Management	1,500	2,000	2,000	No Change From 2024/2025 Budget	
Miscellaneous - postage, office supplies, etc.	2,724	1,500	1,500	No Change From 2024/2025 Budget	
Commercial Closing Fee	60,485	0	60,000	New Budget Item	
Palm Beach County Pace Project Fees	19,124	0	20,000	New Budget Item	
Financial Advisory Fees	0	10,000	10,000	Financial Advisory Fees	
TOTAL FIXED EXPENDITURES	$	237,410	$	172,100	$	293,200		
					
TOTAL EXPENDITURES	$	480,498	$	403,255	$	594,271		
					
REVENUES LESS EXPENDITURES	$	43,698,868	$	20,090,000	$	20,090,000		
					
Loan Payments (Residential)	(43,284,422)	(19,700,000)	(19,700,000)	Loan Payments (Residential)	
Loan Payments (Commercial)	(485)	0	0	Loan Payments (Commercial)	
					
BALANCE	$	413,961	$	390,000	$	390,000		
					
Fees (Residential)	(476,378)	(280,000)	(280,000)	Fees (Residential)	
Fees (Commercial)	(15)	0	0	Fees (Commercial)	
					
Excess/ (Shortfall)	$	(62,432)	$	110,000	$	110,000		
					
Program Reinvestment (Residential)	0	(100,000)	(100,000)	Program Reinvestment (Residential)	
Program Reinvestment (Commercial)	0	(10,000)	(10,000)	Program Reinvestment (Commercial)	
					
Net Excess/ (Shortfall)	$	(62,432)	$	-	$	-		
					
Projected Fiscal Year-End Fund Balance	0	100,000	100,000		

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before any prepayments): 6,356
6/20/2025 10:16 AM	II

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Commercial Only)

FISCAL YEAR 2025/2026
COMMERCIAL BUDGET	
		
REVENUES		
O & M Assessments (Commercial)	0	
Bond/Loan Revenues (Commercial)	See Commercial Bond Page	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	167,600	
Other Revenue - Buy In	0	
TOTAL REVENUES	$	177,600	
		
VARIABLE EXPENDITURES		
Miscellaneous	1,000	
TOTAL VARIABLE EXPENDITURES	$	1,000	
		
FIXED EXPENDITURES		
Management	24,000	
Legal	45,000	
Audit Fees	8,250	
Insurance	7,500	
Legal Advertisements	4,500	
Travel/Conference	7,500	
New County Set-up Fee	500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Miscellaneous - postage, office supplies, etc.	750	
Commercial Closing Fee	60,000	
Palm Beach County Pace Project Fees	0	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	166,600	
		
TOTAL EXPENDITURES	$	167,600	
		
REVENUES LESS EXPENDITURES	$	10,000	
		
Bond/Loan Payments (Commercial)	0	
		
BALANCE	$	10,000	
		
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	10,000	
		
Program Reinvestment/Carryover Credit	(10,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	$	-	
NOTE: A separate spreadsheet is kept to track provider specific carryover credit that can be applied to quarterly invoices.

6/20/2025 10:16 AM	III

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Residential Only)

	
FISCAL YEAR	
	2025/2026	
	RESIDENTIAL BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	270,000	
Loan Revenues (Residential)	20,136,371	
Interest Income	300	
TOTAL REVENUES	$	20,506,671	
		
VARIABLE EXPENDITURES		
Assessment Roll	291,071	
Miscellaneous	9,000	
TOTAL VARIABLE EXPENDITURES	$	300,071	
		
FIXED EXPENDITURES		
Management	24,000	
Legal	45,000	
Audit Fees	8,250	
Insurance	7,500	
Legal Advertisements	4,500	
Travel/Conference	7,500	
New County Set-up Fee	500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Miscellaneous - postage, office supplies, etc.	750	
Commercial Closing Fee	0	
Palm Beach County Pace Project Fees	20,000	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	126,600	
		
TOTAL EXPENDITURES	$	426,671	
		
REVENUES LESS EXPENDITURES	$	20,080,000	
		
Loan Payments (Residential)	(19,700,000)	
		
BALANCE	$	380,000	
		
Fees (Residential)	(280,000)	
		
Excess/ (Shortfall)	$	100,000	
		
Program Reinvestment (Residential)	(100,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before any prepayments): 6,356

6/20/2025 10:16 AM	IV

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF JUNE 2025

COUNTY	
COMMENCING	
COMMENCING	
COMMENCING	
COMMENCING	

TOTAL*	
	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR	FISCAL YEAR		
	2022/2023	2023/2024	2024/2025	2025/2026		
						
Alachua	2	0	0	0	49	
Brevard	280	256	8	1	843	
Broward	1,020	2,147	1,736	1,894	10,358	
Charlotte	87	11	0	0	375	
Citrus	66	81	87	94	407	
Collier	0	0	1	0	52	
Escambia	0	1	1	0	3	
Hernando	0	0	0	0	238	
Highlands	0	0	1	0	1	
Hillsborough	0	0	0	42	1,423	
Indian River	1	1	2	0	4	
Jefferson	0	0	0	0	1	
Lake	1	0	3	1	5	
Lee	44	89	83	55	348	
Levy	4	7	2	14	40	
Manatee	90	113	142	94	708	
Marion	60	149	110	214	696	
Martin	19	58	21	24	188	
Miami-Dade	1358	2,253	1,723	2,084	10,000	
Monroe	3	7	7	2	29	
Okeechobee	5	18	3	0	26	
Orange	34	35	71	94	404	
Osceola	101	118	100	129	911	
Palm Beach	580	1,334	1,230	1,321	6,255	
Pasco	110	147	85	167	1,464	
Polk	14	21	17	0	73	
Sarasota	112	142	97	89	712	
Seminole	3	11	16	18	77	
Suwannee	0	1	0	3	4	
Volusia	7	19	22	16	73	
Sub-Total	4,001	7,019	5,568	6,356	35,767	
						
Less Prepayments	1,692	1,692	2,422	0	9,306	
						
Total	2,309	5,327	3,146	6,356	26,461	

Notes:	
1. *Includes totals from years prior to those shown.	
2. Prepayments include matured loans.	
3. 2024/2025 numbers are approximates.	
4. 2024/2025 prepayment numbers will continue to grow until the start of next year's enrollment.	

V

FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS AS OF JUNE 2025

BOND ISSUE	

ORIGINAL	

CURRENT		

ANNUAL	
	PAR	PAR	MATURITY	ASSESSMENT	
	AMOUNT	AMOUNT	DATE	AMOUNT	
					
Series 2014 Loan (E&M Spirits)	
$46,550.00	
$0.00	
May 2023	
$9,429.07	
Series 2015-1 (Brandsmart Project)	
$2,225,700.00	
$0.00	
Paid off	
$0.00	
Series 2018 (Dadeland Mall Project)	
$2,595,468.73	
$1,212,490.52	
November 2028	
$350,856.55	
Series 2018A (Orlando Outlets Project)	
$5,562,289.94	
$4,215,060.80	
November 2039	
$496,899.34	
Series 2020-A (Avid Viera)	
$3,471,908.43	
$0.00	
Paid off	
$0.00	
Series 2020-B (Home 2-Palm Bay)	
$3,930,000.00	
$3,698,363.22	
November 2046	
$312,209.65	
Series 2020-C (Hyatt-Palm Bay)	
$5,643,500.00	
$5,310,868.39	
November 2046	
$447,438.17	
Series 2020-D (Pruitt Health - Lutz)	
$3,340,018.09	
$3,211,680.59	
November 2047	
$261,701.69	
Series 2021-1 (Le Meridien)	
$37,650,000.00	
$36,047,715.42	
November 2047	
$2,689,983.39	
Series 2021-2 (Sheraton - Palmetto)	
$30,600,000.00	
$30,024,684.65	
November 2048	
$2,418,304.48	
Series 2022-1 (Pruitt Health - Pensacola)	
$5,335,050.00	
$5,235,879.97	
November 2048	
$422,279.36	
Series 2022-2 (Certus Waterford Lakes)	
$7,200,000.00	
$7,069,369.65	
November 2048	
$572,722.58	
Series 2022-3 (Spanish Moss Apartments)	
$3,961,068.11	
$3,961,068.11	
November 2047	
$333,839.33	
Series 2022-4 (Certus Vero Beach)	
$8,640,000.00	
$8,640,000.00	
November 2050	
$684,084.69	
Series 2023 (Proper South Beach)	
$31,569,161.68	
$0.00	
Paid off	
$0.00	
Series 2023 (Marriott Palmetto)	
$14,400,000.00	
$14,400,000.00	
November 2053	
$1,251,355.67	
Series 2024 (Delray Beach Market)	
$14,515,442.07	
$14,515,442.07	
November 2053	
$0.00	
Total	
$180,686,157.05	
$137,542,623.39		
$10,251,103.97	

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

6/20/2025 10:16 AM	VI