FINAL ADOPTED BUDGET FY2022-23

General Fund Expenditure Highlights

Expenditures By Category The chart shows a comparison of General Fund expenditures by category for FY 20-21 actual expenditures, the FY 21-22 amended budget, and the FY 22-23 adopted and FY 23-24 projected budgets.

General Fund Expenditures by Expenditure Category Actual Budget

Adopted

Projected

2022-23

2020-21

2021-22

2023-24

$ 229,440,140 154,585,347 1,110,000 Total Expenditures $ 298,833,954 $ 332,478,322 $ 372,406,514 $ 385,135,487 187,007,692 111,507,391 318,871 $ 201,777,509 129,404,970 1,295,843 $ 218,148,512 153,034,502 1,223,500 $

Personnel Costs Maintenance & Operations Capital Outlay

The FY 22-23 General Fund budget includes personnel costs of $218.1 million, $16.4 million, or 8.1%, higher than the current revised budget. Personnel costs represent the largest proportion of General Fund expenditures, at almost 59% of overall expenses. The fund includes a net increase of 40.05 full-time equivalent (FTE) positions. A total of 8.25 FTEs were added as part of mid-year position requests and reorganizations. An additional 29 FTEs are included for various service enhancements. Several position changes are included for a variety of General Fund Departments detailed in the Position Summary section of the document. The budget includes funds for the continuation of the Police and Fire step program for appropriate ranks, the continuation of the general employee step plan for certain position grades and market based and merit based increases for all employees. The budget includes a 2% base market adjustment for general employees and 3% merit increase for all eligible employees. Compensation changes for Guilford Metro 911 include a 3% base market adjustment and a 4% average merit for all telecommunicators positions. Police and Fire sworn personnel will have a market based increase to starting salaries and steps, resulting in average market adjustments of 7.4% for Fire and 5.7% for Police. Starting pay will increase to $43,214 for Fire and $44,583 for Police. The budget also continues funding to maintain a $15 minimum wage for all eligible City employees and required increases to retirement system contributions made by the City for all employees. Maintenance and Operations (M&O) expenditures, including transfers to other funds and debt service, are budgeted at $153.1 million, roughly $30.8 million, or 23.8%, higher than the current year budget. M &O expenses represent approximately 41% of the General Fund budget. Increased service and contract costs for priority areas such as solid waste, security, information technology, and others is included at more than $3 million. M&O for various programming and equipment costs total just under $1.1 million for related service enhancements. Transfers to the Parking Fund and Debt Service fund increase approximately $15 million due to debt service needs. A transfer to the Capital Leasing Fund of $1.5 million dollars provides funding for technology software and contract increases necessary to maintain current services. The General Fund transfer to the Coliseum Fund is $3.4 million, a $500,000 increase over the current year due to anticipated return to more normal operations and implementation of a $15 minimum wage for all Coliseum employees by FY 23-24. The General Fund contribution to the Solid Waste Management Fund will continue at $1,830,537. Capital outlay, expenses for equipment and vehicles and other assets over $5,000 which have a useful life of more than one year, decreases by approximately $70,000 to $1.1 million. Approximately $400,000 of this is directly related to vehicles and equipment needed for additional employees. The FY 23-24 projected budget of $385.1 is $12.7 million, or 3.4%, higher than the adopted FY 22-23 budget.

Adopted 2022-23 Budget

36