2023 Annual Comprehensive Report

Schedule 7 4 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, 2023

Variance Positive (Negative)

Final

Budget

Actual

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

$

321,723 3,548,767

$

321,723 3,548,767

$

Other Operating Revenues

13,131

4,340

(8,791) (8,791)

Total Operating Revenues

3,883,621

3,874,830

Operating Expenses: Personal Services

6,462,936 2,676,563 4,138,123

6,227,867 2,436,542 4,063,449

235,069 240,021 74,674 89,986 639,750

Fringe Benefits

Maintenance and Operations

Claims and Expenses

3,440 89,986

3,440

Capital Outlay

Total Operating Expenses

13,371,048

12,731,298

Operating Loss

(9,487,427)

(8,856,468)

630,959

Nonoperating Revenues: Investment Income (Loss)

56,550

30,164

(26,386)

Net Increase (Decrease) in the Fair Value of Investments

30,186 60,350

30,186 3,800

Total Investment Income

56,550

Nonoperating Expenses: Principal Maturities

254,262 67,461 321,723

303,502

(49,240) 65,640 16,400

Interest Expense

1,821

Total Nonoperating Expenses

305,323

Excess of Revenues Under Expenses Before Other Financing Sources

(9,752,600)

(9,101,441)

651,159

Other Financing Sources: Transfers In

8,767,006

8,812,904

45,898

Excess of Revenues and Other Financing Sources Under Expenses

(985,594)

(288,537)

697,057

Appropriated Fund Balance

985,594

(985,594)

Excess of Revenues and Other Financing Sources Under Expenses

$

$

(288,537)

$

(288,537)

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