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FLORIDA DEVELOPMENT FINANCE CORPORATION <br />STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION <br />YEAR ENDED JUNE 30, 2017 <br />Revenues <br />Conduit debt issuance fees <br />$ 495,415 <br />All Aboard Florida reimbursement revenue <br />117,479 <br />Total Revenues <br />612,894 <br />Expenses <br />General and administrative: <br />Professional fees <br />328,400 <br />Salaries and wages <br />317,988 <br />Other <br />88,721 <br />Program: <br />PACE program expenses <br />254,359 <br />FRED expenses <br />1,907 <br />Total Expenses <br />991,375 <br />Decrease in Net Position <br />(378,481) <br />Net Position, Beginning of Year <br />1,469,198 <br />Net Position, End of Year $ 1,090,717 <br />See notes to financial statements. 8 <br />