Adopted Budget Projected Budget 2016-2017

Total Budget-Revenues

Fund Balance

Interfund Transfers

The City of Greensboro fund balance policy states that “each year the estimated savings realized from unexpended appropriations in the General Fund shall be evaluated with respect to appropriation to the following year’s revenue budget as Appropriated Fund Balance to assist in financing that year’s budget.” Appropriated fund balance budgets across all funds decrease from $37.6 million in FY 15-16 to $28.5 million for FY 16-17. Two funds in particular are appropriating far less fund balance for FY 16-17 as compared to the current year. The Emergency Telephone System Fund was required by the State of North Carolina 911 Board to spend down its available fund balance in FY 15-16. The fund budgeted $1.1 million in fund balance in the current year, while only budgeting $180,000 for FY 16-17. The Water Resources Fund is also reducing its reliance on fund balance to balance the FY 16-17 budget. The fund will use $9.1 million in fund balance for FY 16-17 as compared to $14.3 million in the current year. Appropriated fund balance for the General Fund is $6.65 million, or 2.4%, of the total fund budget. A one time $1.1 million appropriation from the capital reserve is included in this number for the MMOB roof and skylight replacement project.

Interfund transfers are contributions made by one fund to support operations in another fund, such as contributions from the General Fund to the Solid Waste Management Fund to support refuse disposal, and contributions to the Debt Service Fund to support voter-approved bond project financing. Budgeted interfund transfers for FY 16-17 are $37.6 million, about $2.9 million above the revised FY 15-16 budget. The General Fund transfer to the Debt Service Fund provides for most of this increase. The transfer increases from $18.3 million in FY 15-16 to $21.2 million for FY 16-17. This increase is necessary to support debt service principal and interest expenses associated with successful bond referenda in 2006, 2008 and 2009. The General Fund contribution to the Solid Waste Management Fund increases slightly from $1.8 to $1.9 million. The General Fund transfer to the War Memorial Coliseum Fund will increase from $2.5 million to $2.7 million. The General Fund contribution to the Guilford Metro Communications Fund will increase from $4.7 million to $4.9 million. Finally, the General Fund contribution for the Cemeteries Fund increases from $415,160 to $437,800. The transfer from the Powell Bill Fund to the General Fund is budgeted at $5.65 million. The transfer helps to balance the General Fund budget as Powell Bill eligible expenditures in the General Fund are paid for with Powell Bill proceeds.

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