Adopted Budget Projected Budget 2016-2017

Fund Summary-General Fund

Piped Natural Gas sales tax is projected at $1.22 million for FY 16-17, about 2% below revised current year estimates. The Telecommunications Sales Tax revenue continues to decline as more consumers choose to eliminate their landline phone and solely use wireless. The FY 16-17 budget projection of $3.25 million is about 2.5% below revised current year estimates. The Greensboro ABC Board distributes its net profits (after deducting amounts required for law enforcement, alcohol education and working capital) as follows: 91.3% is distributed to Greensboro, 2.2% is distributed to Summerfield with the remaining 6.5% distributed among Guilford County and municipalities without ABC outlets. Revenues of $3.42 million are estimated for FY 16-17, which are roughly equal to the current year estimate. Building development fee revenue continues to improve with revenue for the current year expected to approach a 9-10% increase over last year. Through March 2016 (nine months of the fiscal year), the total number of building permits are 12% higher than the same time period in FY 14-15. For FY 16-17, development fee revenue is projected at $2.84 million for the FY 16-17, about 5.5% above revised current year estimate of $2.69 million. ABC Profit Distribution Building Development Fees Other revenues in the General Fund include departmental charges, user fees, fines, licenses and other miscellaneous revenues. These revenues are estimated at $26.7 million, about $175,000 above current year budget levels. Changes to the contract for managing the City’s recycling disposal program will result in a budgeted revenue reduction from $800,000 to $400,000. Although recycling revenue will be Other Revenues

reduced, the renegotiated contract provides the City with greater revenue that would likely have occurred from a new contract. Budgeted revenue generated from the Motor Vehicle License Fee increases from $725,000 to $1,050,000. The Net Budget includes an increase of the total fee from $10 to $30. The portion of the fee dedicated to the General Fund would increase from $3.50 to $5.00. The remainder of the fee will support Transit and street resurfacing needs. Commercial refuse collection fees are budgeted at $4.40 million, slightly below the current year level of $4.46 but in line with revised current year estimates. The General Fund typically receives transfers from Special Revenue Funds which have been established to account for specific revenue sources received by the City. The transfer from the State Highway Gasoline Tax Fund (Powell Bill) is budgeted at $5.65 million to offset a variety of eligible transportation expenses budgeted in the General Fund. The General Fund will also receive a contribution from Transportation Bond Funds in the amount of $720,000 to offset some of the eligible professional services expenditures absorbed in the General Fund. The fund balance appropriation for the FY 16-17 Adopted Budget is $6.65 million, or 2.4%, of the total budget. A $1.1 million capital reserve appropriation to fund the MMOB roof and skylight replacement project is included in this number. This does not include additional fund balance appropriations that will be necessary to carry forward outstanding purchase orders at the end of FY 15-16. Fund Balance Transfers from Other Funds

Adopted FY 2016-17 Budget

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