FY 14-15 Adopted Budget

Total Budget-Revenues

Other Revenues

for the Cemeteries Fund (from $423,100 to $451,300), the War Memorial Coliseum Fund (from $2.21 million to $2.34 million) and for the Guilford Metro Communications Fund (from $4.29 million to $4.42 million). The transfer from the Powell Bill Fund to the General Fund is budgeted at $5.85 million, the same as current year. 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. 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 amounts across all funds increase from $32.0 million in FY 13-14 to $33.3 million for FY 14-15. Appropriated fund balance for the General Fund is $4.23 million, or 1.6%, of the total budget. This appropriation level is slightly above the budgeted figure of $3.88 for FY 13-14. The Debt Service Fund budgeted appropriated fund balance for FY 13-14 in excess of $3 million. However, revised projections expect needing only $1 million during this year and only $445,000 is budgeted for FY 14-15. The Water Resources Fund is budgeting $11.5 million in appropriated fund balance to support operations in FY 14-15, compared to $8.1 million in the current year. Fund Balance

Revenues not otherwise defined are included in this category. These include interest income, internal service charges, proceeds of capitalized leases, donations and sale of assets. Internal charges, or charges assessed by one department for services rendered for another, are captured in this category. This includes internal printing charges, garage and fleet maintenance charges and computer service and maintenance charges. Revenues for this category are budgeted for FY 14- 15 at $100.0 million. The $5.2 million drop from FY 13-14 to FY 14-15 is due to the refinancing of general obligation bonds that occurred during FY 13-14. This created a one-time revenue entry of approximately $6.8 million. Employer paid premiums into the Risk Retention (Health Insurance) Fund on behalf of employees for health insurance are budgeted to increase from $24.0 million to $26.0 million. 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 14-15 are $34.0 million, about $278,000 higher than the revised FY 13-14 budget. There are examples of both transfer increases and decreases between funds that roughly offset each other on a total budget basis. The General Fund contribution to the Solid Waste Management Fund is lowered from the FY 13-14 amount of $2.46 million to $1.78 million. The General Fund contribution does increase, however, Interfund Transfers

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