Adopted Budget
Fiscal Year 2019

Green Corridor
P.A.C.E. District

May 14, 2018

Green Corridor
P.A.C.E District											
General Fund	
	Adopted			Actual			Projected			Projected	Adopted	
	Budget			Thru			Next			thru	Budget	
Description	FY2018			8/31/2018			1month			9/30/2018	FY2019	

Revenues												
Closing Fee Reven ue Share	$750,000			$589,800			$196,600			$786,400	$750,000	
Ca rry  Forwa rd  Surpl us	$440,275			$600,000			$0			$600,000	$910,135	
Total Revenues	$1,190,275			$1,189,800			$196,600			$1,386,400	$1,660,135	

Expenditures												
Administrative												
Attorney	$75,000			$233,506			$50,000			$283,506	$150,000	
An nua l Audit	$12,000			$58,550			$10,000			$68,550	$12,000	
Ma nagement  Fees	$12,000			$11,000			$1,000			$12,000	$12,000	
Fi na ncia l Advisor	$0			$11,150			$0			$11,150	$0	
Contract Processi ng	$48,000			$29,447			$14,723			$44,170	$48,000	
Telephone	$50			$38			$3			$42	$50	
Postage	$125			$790			$72			$862	$125	
I nsu ra nce	$5,610			$5,610			$0			$5,610	$5,610	
Pri nti ng & Bi nd i ng	$750			$644			$59			$703	$750	
Lega l Advertisi ng	$10,000			$48,899			$0			$48,899	$10,000	
Website Com plia nce	$500			$0			$0			$0	$500	
Other Current Cha rges	$500			$458			$42			$500	$500	
Office Supplies	$100			$91			$8			$99	$100	
Dues, Licenses & Subscri ptions	$175			$175			$0			$175	$175	
TOTAL ADMINISTRATIVE	$164,810			$400,358			$75,907			$476,265	$239,810	

Special Projects												
Florida Sun	$80,000			$0			$80,000			$80,000	$100,000	
Rebui lding M ia m i	$250,000			$12,500			$225,000			$237,500	$250,000	
Projects - Type 2	$250,000			$0			$250,000			$250,000	$250,000	
TOTAL SPECIAL	$580,000			$12,500			$555,000			$567,500	$600,000	
TOTAL EXPENDITURES	$744,810			$412,858			$630,907			$1,043,765	$839,810	
Net Income	$445,465			$789,442			$120,693			$910,135	$820,324	

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REVENUES:

Closing Fee Revenue Share

Represents a fee for the processing of each application to the Districts.   Fees are collected by Ygrene Energy Fund Florida, LLC and remitted to the District on a quarterly basis.

EXPENDITURES:

Administrative:

Attornev

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.

Annual Audit

The District is required annually to conduct an audit of its financial records by anIndependent 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.

Contract Processing

The District pays a fee for every contract that is processed by Governmental Management Services - South Florida, LLC.

Telephone

This category includes all charges relating to telephone calls, conference calls, and faxes made to and on behalf of the District.

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.

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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.

Other Current Charges

Bank charges and any other miscellaneous expenses that incurred during the year.

Website Compliance

Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the COD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

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

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

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