FY 2017-18 FINAL ADOPTED BUDGET

Total Budget-Revenues

million for FY 17-18. This increase will provide the necessary support to fund debt service principal and interest expenses associated with successful bond referenda in 2008, 2009 and 2016. The General Fund contribution to the Solid Waste Management Fund drops slightly from $1.9 million to $1.8 million. The General Fund transfer to the War Memorial Coliseum Fund will increase from $2.7 million to $2.9 million. The General Fund contribution to the Guilford Metro Communications Fund will decrease slightly from $7.86 million to $7.71 million. 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. 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.” Fund Balance

Appropriated fund balance budgets across all funds decrease from $32.6 million in FY 16-17 to $30.8 million for FY 17-18. The single largest fund reduction occurs in the General Insurance Fund, where appropriated fund balance will be reduced from $6.6 million in the current year to $2.7 million in FY 17-18. In November 2016, the FY 16-17 General Insurance Fund budget was amended to complete a law enforcement related claim previously approved by City Council. The Water Resources Fund will appropriate $8.1 million to balance the FY 17-18 budget, compared to $9.2 million in fund balance for FY 16-17. Appropriated fund balance for the General Fund is $6.60 million, or 2.3%, of the total Adopted General Fund budget. A portion of the appropriated fund balance, $1.275 million, would be appropriated from the general capital reserve. This funding would be used to improve and upgrade technology at the Public Safety Training Center, upgrade the card entry security at various City facilities and begin building upgrades and renovations at the Cultural Arts Center.

Adopted FY 2017–18 Budget

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