Florida Green Finance Authority

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

CONTENTS

I

FINAL BUDGET

II

DETAILED FINAL BUDGET

III

COMMERCIAL BUDGET

IV

RESIDENTIAL BUDGET

V

PARTICIPANTS

VI

COMMERCIAL BONDS

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

Approx. Participants As Of August 2025: 25,145 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before prepayments have been removed): 6,356

I

9/4/2025 10:21 AM

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)

20,121,895

Loan Revenues (Commercial)

0

Other Revenue - Commercial Closing Fees

10,000

Other Revenue - Administrator Cost Sharing

167,600

Interest Income

300

TOTAL REVENUES

$	20,669,795

VARIABLE EXPENDITURES

Assessment Roll

276,595

Miscellaneous

10,000

TOTAL VARIABLE EXPENDITURES

$	286,595

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

$	579,795

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

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

Approx. Participants As Of August 2025: 25,145 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before prepayments have been removed): 6,356

II

9/4/2025 10:21 AM

FISCAL YEAR 2023/2024 ACTUAL

FISCAL YEAR 2024/2025 BUDGET

FISCAL YEAR 2025/2026 BUDGET

COMMENTS

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

20,121,895

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

$  20,669,795

VARIABLE EXPENDITURES

Assessment Roll

243,088

221,155

276,595

25,145 X $11 - Based On Approximate Participants

Miscellaneous

0

10,000

10,000

Miscellaneous

TOTAL VARIABLE EXPENDITURES

$	243,088

$	231,155

$	286,595

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

$	579,795

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

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

NOTE: A separate spreadsheet is kept to track provider specific carryover credit that can be applied to quarterly invoices.

III

9/4/2025 10:21 AM

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

$	-

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

Approx. Participants As Of August 2025: 25,145 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before prepayments have been removed): 6,356

IV

9/4/2025 10:21 AM

FISCAL YEAR 2025/2026
RESIDENTIAL BUDGET

REVENUES

Projected Carry Forward Surplus

100,000

O & M Funding Contributions

270,000

Loan Revenues (Residential)

20,121,895

Interest Income

300

TOTAL REVENUES

$	20,492,195

VARIABLE EXPENDITURES

Assessment Roll

276,595

Miscellaneous

9,000

TOTAL VARIABLE EXPENDITURES

$	285,595

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

$	412,195

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

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF AUGUST 2025

Notes:
*Includes totals from years prior to those shown.
Prepayments include matured loans.
2025/2026 numbers are approximates.
2025/2026 prepayment numbers will continue to accumulate until the start of next year's enrollment.

V

COUNTY

COMMENCING FISCAL YEAR 2022/2023

COMMENCING FISCAL YEAR 2023/2024

COMMENCING FISCAL YEAR 2024/2025

COMMENCING FISCAL YEAR 2025/2026

TOTAL*

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

1,316

10,622

Total

2,309

5,327

3,146

5,040

25,145

FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS AS OF AUGUST 2025

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

VI

9/4/2025 10:21 AM

BOND ISSUE

ORIGINAL PAR AMOUNT

CURRENT PAR AMOUNT

MATURITY DATE

ANNUAL ASSESSMENT 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