Florida Green Finance Authority

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

COMMERCIAL BONDS RECAP

AMENDED FINAL BUDGET
FLORIDA GREEN FINANCE AUTHORITY OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

$284,549

($203,537)

$81,012

Fund Balance As Of 9/30/2024

Projected FY 2024/2025 Activity

Projected Fund Balance As Of 9/30/2025

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

REVENUES

Carry Forward Surplus

100,000

0

0

O & M Funding Contributions

270,000

225,052

205,052

Loan Revenues (Residential)

20,025,905

53,230,047

53,230,047

Bond/Loan Revenues (Commercial)

0

5,180,029

5,180,029

Other Revenue - Commercial Closing Fees

10,000

0

0

Other Revenue - Administrator Cost Sharing

87,050

73,136

73,136

Other Revenue - Miscellaneous

0

0

0

Interest Income

300

26,500

25,629

TOTAL REVENUES

$	20,493,255

$	58,734,764

$	58,713,893

VARIABLE EXPENDITURES

Assessment Roll

221,155

300,000

0

Miscellaneous

10,000

10,000

0

TOTAL VARIABLE EXPENDITURES

$	231,155

$	310,000

$	-

FIXED EXPENDITURES (Residential & Commercial)

Management

48,000

48,000

44,000

Legal

75,000

90,000

74,902

Audit Fees

16,500

16,500

0

Insurance

3,900

9,852

9,852

Legal Advertisements

9,000

3,500

1,961

New County Set-up Fee

1,000

0

0

Dues & Subscriptions

1,200

815

815

Trustee Fees

4,000

0

0

Website Management

2,000

1,500

1,375

Miscellaneous - Postage, Office Supplies, Etc.

1,500

3,500

2,783

Commercial Closing Fee

0

14,152

14,152

Palm Beach County Pace Project Fees

0

30,000

0

Financial Advisory Services

10,000

0

0

TOTAL FIXED EXPENDITURES

$	172,100

$	217,819

$	149,840

TOTAL EXPENDITURES

$	403,255

$	527,819

$	149,840

REVENUES LESS EXPENDITURES

$	20,090,000

$	58,206,945

$	58,564,053

Loan Payments (Residential)

(19,700,000)

(53,569,022)

(53,569,022)

Bond/Loan Payments (Commercial)

0

(4,182,490)

(4,182,490)

BALANCE

$	390,000

$	455,433

$	812,541

Fees (Residential)

(280,000)

(565,912)

(565,912)

Fees (Commercial)

0

(93,058)

(93,058)

Excess/ (Shortfall)

$	110,000

$	(203,537)

$	153,571

Program Reinvestment

(110,000)

0

0

Net Excess/ (Shortfall)

$	-

$	(203,537)

$	153,571

AMENDED FINAL BUDGET FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS RECAP
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

BOND ISSUE

ORIGINAL PAR
AMOUNT

CURRENT PAR
AMOUNT

MATURITY DATE

ANNUAL ASSESSMENT
AMOUNT

FISCAL YEAR 2024/2025
PRINCIPAL PAYMENTS

FISCAL YEAR 2024/2025
INTEREST PAYMENTS

Series 2014 Loan (E&M Spirits)

$46,550.00

$0.00

-----

$9,429.07

-----

-----

Series 2015-1 (Brandsmart Project)

$2,225,700.00

$0.00

-----

$0.00

-----

-----

Series 2018 (Dadeland Mall Project)

$2,595,468.73

$1,212,490.52

November 2028

$350,856.55

$263,324.89

$76,379.46

Series 2018A (Orlando Outlets Project)

$5,562,289.94

$4,695,846.56

November 2039

$496,899.34

$186,039.50

$300,062.38

Series 2020-A (Avid Viera)

$3,471,908.43

$0.00

-----

$294,927.30

-----

-----

Series 2020-B (Home 2 - Palm Bay)

$3,930,000.00

$3,698,363.22

November 2046

$312,209.65

$81,663.86

$219,885.45

Series 2020-C (Hyatt - Palm Bay)

$5,643,500.00

$5,310,868.39

November 2046

$447,438.17

$117,269.73

$315,756.62

Series 2020-D (Pruitt Health - Lutz)

$3,340,018.09

$3,211,680.59

November 2047

$261,701.69

$65,986.25

$189,159.97

Series 2021-1 (Le Meridien)

$37,650,000.00

$36,868,662.45

November 2047

$2,689,983.39

$0.00

$913,709.45

Series 2021-2 (Sheraton - Palmetto)

$30,600,000.00

$30,024,684.65

November 2048

$2,418,304.48

$575,315.35

$1,751,800.78

Series 2022-1 (Pruitt Health - Pensacola)

$5,335,050.00

$5,235,879.97

November 2048

$422,279.36

$99,170.03

$309,742.93

Series 2022-2 (Certus Waterford Lakes)

$7,200,000.00

$7,069,369.65

November 2048

$572,722.58

$130,630.35

$217,175.00

Series 2022-3 (Spanish Moss Apartments)

$3,961,068.11

$3,961,068.11

November 2047

$333,839.33

$0.00

$247,600.87

Series 2022-4 (Certus Vero Beach)

$8,640,000.00

$8,640,000.00

November 2050

$684,084.69

$0.00

$671,134.80

Series 2023-1 (Proper South Beach)

$31,569,161.68

$0.00

-----

$0.00

$31,569,161.68

$1,578,458.08

Series 2023-2 (Marriott Palmetto)

$14,400,000.00

$14,400,000.00

November 2053

$1,251,355.67

$0.00

$605,900.00

Series 2024 (Delray Beach Market)

$14,515,442.07

$14,515,442.07

November 2053

$0.00

$0.00

$0.00

Total

$180,686,157.05

$138,844,356.18

$10,546,031.27

$33,088,561.64

$7,396,765.79

.

Notes:

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

Avid Viera Paid Off Series 2020-A Bond In February 2024.

Proper South Beach Paid Off Series 2023-1 Bond In June 2025.