FY 2017-18 FINAL ADOPTED BUDGET

Fund Summary - General Fund

For FY 17 - 18, the electric sales tax is projected at $17.3 million, about 3% higher than the revised current year estimate. Piped Natural Gas sales tax is projected to be lower in the current year as compared to FY 15 - 16 and to drop further during FY 17 - 18. The FY 17 - 18 projection of $822,000 is 4% below the revised current year estimate. The Greensboro ABC Board distributes its net profits (after deducting amounts required for law enforcement, alcohol education and working capital) as follows: 91.9% is distributed to Greensboro, 1.6% is distributed to Summerfield with the remaining 6.5% distributed among Guilford County and municipalities without ABC outlets. Revenues of $3.68 million are estimated for FY 17 - 18, which are roughly 2% higher than the current year estimate of $3.61 million. Building development fee revenue continues to improve with revenue for the current year expected to range between 7 and 8% higher than last year. Through March 2017 (nine months of the fiscal year), the total number of building permits are 10% higher than the same time period in FY 15 - 16. For FY 17 - 18, building permit fee revenue is projected at $3.28 million, about 6% above revised current year estimate of $3.09 million. ABC Profit Distribution Building Development Fees

Commercial refuse collection fees are budgeted at $4.70 million, about the same as revised current year estimates. Budgeted rental income is reduced from $529,000 to $389,000 due to the sale of the Dorothy Bardolph Building, which was finalized during FY 16 - 17. 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 (Powell Bill) Fund 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. Fund Balance The fund balance appropriation for the FY 17 - 18 General Fund Adopted Budget is $6.6 million, or 2.3%, of the total budget. A $1.27 million capital reserve appropriation is included to fund facility upgrades at the Public Safety Training Center, the Cultural Arts Building and upgrades for building entry security at various City facilities. The total amount does not include additional fund balance appropriations that will be necessary to carry forward outstanding purchase orders at the end of FY 16 - 17. Transfers from Other Funds

Other Revenues

Other revenues in the General Fund include departmental charges, user fees, fines, licenses and other miscellaneous revenues. These revenues are estimated at $26.8 million, similar to the current year budget.

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