FINAL ADOPTED BUDGET FY2021-22

The Greensboro ABC Board distributes its net profits (after deducting amounts required for law enforcement, alcohol education, and working capital) as follows: 91.8% is distributed to Greensboro, 1.7% is distributed to Summerfield, and the remaining 6.5% is distributed among Guilford County and municipalities without ABC outlets. ABC Profit Distribution Revenues of $5.2 million are estimated for FY 21-22, about $1.2 million above the current year budget of $4 million, based on strong sales growth in the current year. User Fees, Charges, and Licenses Charges for programming and services provided by General Fund departments, such as Parks and Recreation, Field Operations, and Engineering and Inspections are included in this category. The 21-22 adopted budget of $20.6 million is approximately $1.5 million less than the current year budget. The majority of user fees are anticipated to return to pre-pandemic levels next year. However, several are expected to continue to be significantly impacted, including commercial solid waste and parking services. Library fees that were suspended during the pandemic will continue to support equity in library services. Other Revenues Revenues not otherwise defined are included in this category. These include interest income, internal service charges, donations, and sale of assets. These revenues are estimated at $8.5 million, $1.7 million below the current year budget. FY 20-21 included $1.7 million budgeted for the sale of the Maple Street building. Transfers from Other Funds The General Fund receives transfers from Special Revenue Funds, which have been established to account for specific revenue sources received by the City that are typically also tied to specific expenses. The transfer from the State Highway (Powell Bill) Fund is budgeted at $5.65 million to offset a variety of eligible transportation and road maintenance 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. These revenues remain the same as in the current. A new transfer is budgeted from the American Rescue Plan Fund for $4.8 million for eligible expenses and to replace lost revenues due to the impacts of the pandemic over the last year. Additional funds totaling $11.2 million are also projected to be necessary in FY 22-23 to help balance the General Fund budget. Fund Balance The fund balance appropriation for the FY 21-22 General Fund budget is $6.1 million, or 1.85%, of the total budget. This represents an increase of $1.8 million, or 42.7% over the current year amended budget. This increase is funded by the anticipated surplus of revenues over expenses in the current year. The total appropriated fund balance amount does not include additional fund balance appropriations that will be necessary to carry forward outstanding purchase orders at the end of FY 20-21.

Adopted 2021-22 Budget

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