2021 Annual Comprehensive Financial Report

Schedule 79 Page 1 of 2

Guilford Metro Communications Schedule of Revenues, Expenses and Changes in Fund Balance - Budget and Actual (Non-GAAP) For the Fiscal Year Ended June 30, 2021

Variance Positive (Negative)

Final

Budget

Actual

Operating Revenues: Charges for Current Services - Internal Charges for Current Services - External

$

499,076 3,145,599

$

502,250 3,145,599

$

3,174

Other Operating Revenues Total Operating Revenues

13,131

23,220

10,089 13,263

3,657,806

3,671,069

Operating Expenses: Personal Services

5,873,146 2,546,670 3,799,306

5,461,901 2,228,408 3,571,251 1,913,239 13,178,239 3,440

411,245 318,262 228,055

Fringe Benefits

Maintenance and Operations

Claims and Expenses

3,440

Capital Outlay

(1,913,239) (955,677)

Total Operating Expenses

12,222,562

Operating Loss

(8,564,756)

(9,507,170)

(942,414)

Nonoperating Revenues: Investment Income

56,550

6,357

(50,193)

Net Increase (Decrease) in the Fair Value of Investments

(7,740) (1,383)

(7,740) (57,933)

Total Investment Income

56,550

Nonoperating Expenses: Principal Maturities

291,135 11,110 302,245

291,135 11,107 302,242

Interest Expense

3 3

Total Nonoperating Expenses

Excess of Revenues Under Expenses Before Other Financing Sources

(8,810,451)

(9,810,795)

(1,000,344)

Other Financing Sources: Debt Issuances: Proceeds of Capitalized Leases

1,913,239 8,109,234 10,022,473

1,913,239

Transfers In

8,109,234 8,109,234

1,913,239

Total Other Financing Sources

Excess of Revenues and Other Financing Sources Over (Under) Expenses

(701,217)

211,678

912,895

Appropriated Fund Balance

701,217

(701,217)

Excess of Revenues and Other Financing Sources Over Expenses

$

$

211,678

$

211,678

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