Adopted Budget
Fiscal Year 2024

Green Corridor
P.A.C.E. District

August 31, 2023

Green Corridor									General Fund	
P.A.C.E District										
	Adopted		Actual		Projected		Projected		Adopted	
	Budget		Thru		Next		thru		Budget	
 Description		FY2023		7/31/23		2 Months		9/30/23		FY2024	
Revenues										
Closing Fee Revenue Share	$750,000		$102,696		$34,232		$136,928		$750,000	
Interest Income	$5,000		$48,110		$1,064		$49,174		$5,000	
Carry Forward Surplus	$2,715,596		$2,939,018		$0		$2,939,018		$2,708,416	
Total Revenues	$3,470,596		$3,089,824		$35,296		$3,125,120		$3,463,416	

Expenditures										
Administrative
Attorney - General	
$75,000		
$38,760		
$12,920		
$51,680		
$75,000	
Attorney - Bond Doc Drafting	$90,000		$23,326		$7,775		$31,101		$90,000	
Attorney - Litigation/Misc	$75,000		$18,052		$6,017		$24,069		$75,000	
Attorney - Cost Recovery Fees	$0		$35,871		$11,957		$47,828		$48,000	
Annual Audit	$60,000		$12,000		$48,000		$60,000		$60,000	
Management Fees	$38,850		$32,375		$6,475		$38,850		$40,793	
Internal Audit	$42,000		$35,000		$7,000		$42,000		$84,750	
Compliance	$0		$0		$0		$0		$60,000	
Financial Advisor	$10,000		$7,500		$2,500		$10,000		$10,000	
Contract Processing	$48,000		$0		$9,000		$9,000		$9,600	
Telephone	$50		$0		$0		$0		$0	
Postage	$1,000		$470		$167		$637		$1,000	
Insurance	$7,029		$6,717		$0		$6,717		$7,029	
Printing & Binding	$1,000		$159		$167		$326		$1,000	
Legal Advertising	$2,500		$0		$417		$417		$2,500	
Website Compliance	$1,500		$1,250		$250		$1,500		$1,500	
Meeting Room Rental	$0		$7,033		$0		$7,033		$0	
Other Current Charges	$1,500		$217		$250		$467		$1,500	
Office Supplies	$100		$23		$17		$40		$100	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
TOTAL ADMINISTRATIVE	$453,704		$218,928		$112,912		$331,840		$567,947	

Special Projects										
Florida Sun	$125,000		$50,000		$25,000		$75,000		$125,000	
Insulation Program	$200,000		$9,864		$0		$9,864		$400,000	
Undesignated	$500,000		$0		$0		$0		$500,000	
TOTAL SPECIAL	$825,000		$59,864		$25,000		$84,864		$1,025,000	
										
TOTAL EXPENDITURES	$1,278,704		$278,792		$137,912		$416,704		$1,592,947	
										
Net Income	$2,191,892		$2,811,032		($102,616)		$2,708,416		$1,870,470	

REVENUES:
Closing Fee Revenue Share
Represents a fee for the processing of each application to the District. Fees are collected by Ygrene Energy Fund Florida, LLC and remitted to the District.
Interest Income

The excess funds are invested with the State Board of Administration.

EXPENDITURES:
Administrative:

Attorney - General
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.
Attorney – Bond Doc Drafting

The District's legal counsel will be providing legal services to the District related to the drafting of bond documents.
Attorney – Litigation/Misc
The District's legal counsel will be providing legal services to the District for litigation support and other miscellaneous services, such as breach of contract, complaints for damages, etc.
Attorney – Cost Recovery Fees

The District's legal counsel receives a fee for the processing of each application to the District.
Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.
Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.
Internal Audit
Internal Audit services are provided by Governmental Management Services – South Florida, LLC.

Compliance
Compliance services are provided by Governmental Management Services – South Florida, LLC.
Financial Advisor
Financial services are provided by Estrada Hinojosa at a fee of $2,500 per quarter.

Administrative: (Continued)
Contract Processing
The District pays a fee for every contract that is processed by Governmental Management Services – South Florida, LLC.
Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.
Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.
Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.
Website Compliance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.
Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Special Projects
Florida Sun

Fees paid to Solar United Neighbors for establishment of solar cooperatives.
Insulation Program
The District directly paid for insulation installation through Yoky Insulation for eligible property owners.
Undesignated

Represents future anticipated projects to allocated funds, to be determined by the Board.