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ST. PETERS HUMAN SERVICES , INCORPORATED <br /> (A Component Unit of the Indian River County District School Board) <br /> Notes to Basic Financial Statements <br /> (4) Schedule of Local Revenue Sources <br /> The following is a schedule of local revenue sources and amounts : <br /> Sources Amount <br /> Indian River County District School Board : <br /> Florida Education Finance Program $ 277 ,043 <br /> Guaranteed ESE 28 ,939 <br /> Discretionary millage funds 25 ,641 <br /> Discretionary lottery funds 7 ,297 <br /> School academic improvement 115872 <br /> Instructional materials and teacher training 8 ,682 <br /> Student transportation 7 ,648 <br /> Sparsity 33 <br /> Public school technology 2 , 137 <br /> Safe schools 2 ,330 <br /> Florida Teachers Lead Program 5 , 950 <br /> Total $ 377, 572 <br /> (5) Related Party Transactions <br /> The Academy leases its facilities under an annually renewable lease agreement with St. Peter' s <br /> Missionary Baptist Church (the Church) for $2 , 650 per month. In addition, the Academy rents <br /> the Church ' s bus for $ 600 per month. Several of the members of the Academy ' s Board of <br /> Directors are associated with the Church. Total rent expense incurred during the year ended <br /> June 30 , 2002 amounted to $43 ,080 . <br /> Effective July 1 , 2000, the Academy entered into a new lease with the Church for additional <br /> property . Under the lease terms, the Church will construct and provide a new multipurpose <br /> education facility . The lease term covers five years through June 30, 2005 and provides for an <br /> initial payment of $ 364 , 875 in July 2000 , with monthly payments of $ 1 thereafter. As of June <br /> 30 , 2002, no payments have been made to the Church and will be postponed pending <br /> construction of the underlying facilities . <br /> The $ 364, 875 funding of the new lease was received from the District in July 2000 as part of the <br /> Academy ' s SIT allocation (see note 2) , which was awarded from the State of Florida during the <br /> year ended June 30 , 2000 . On July 7 , 2000 , the Academy was awarded an additional SIT <br /> allocation from the State of Florida in the amount of $ 108 ,918 . These funds will be available <br /> for additional capital outlay expenditures associated with the new education facility . <br /> (Continued) <br /> 22 <br />