2018-2019 Adopted Budget

Fund Summary-General Fund

Highlights

Expenditures By Category:

The chart below shows a comparison of General Fund expenditures by expenditure category for FY 16-17 actual expenditures, the FY 17-18 amended budget, the FY 18-19 adopted and FY 19-20 projected budgets.

General Fund Expenditures by Expenditure Category

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Actual

Personnel Costs

164,226,217

174,817,207

179,594,740

183,831,435

Maintenance & Operations

83,573,969

86,004,141

86,018,101

88,472,629

Debt Service

21,238,110

25,920,000

26,005,610

26,361,000

Capital Outlay

135,266

70,614

143,000

0

Total

269,173,561

286,811,962

291,761,451

298,665,064

The FY 18-19 General Fund adopted budget includes personnel costs of $179.6 million, $4.8 million, or 2.7%, higher than the current revised budget. The fund shows a net increase of only about two (2) FTE positions. An additional Analyst position is included for the Finance Department to assist with the increasing number and complexity of various debt management issues. The EDBS Manager position, previously housed in the Economic Development Fund, is now in the General Fund. The budget includes funds for the continuation of the Police and Fire step program for appropriate ranks and an average merit pay adjustment of 3.0% for all other employees. The budget includes approximately $330,000 to fund adjustments to the City’s minimum wage to be effective during FY 18- 19. A $31,200 annual minimum salary will be established for all benefitted positions. Minimum wage for roster positions in the General Fund will increase from $11.50/hour to $12.50/hour and will continue movement to $15/hour in future years. Maintenance and Operations (M/O) expenditures, including transfers to other funds, are budgeted at $86.0 million, roughly the same as the current year budget. The budget does include $300,000 for

major HVAC maintenance at the Central Library and $220,000 for roof replacement for the garden building at the Greensboro Science Center. However, there are no projected uses from capital reserve funds for FY 18-19, compared to $1.27 million in the current year. The General Fund contribution to the Coliseum Fund will remain at $2.90 million. The General Fund contribution to the Solid Waste Management Fund will remain at $1,830,537. General Fund contributions to the Debt Service Fund will increase from $25.9 million in FY 17-18 to $26.0 million in FY 18-19. This contribution to the Debt Service Fund supports additional borrowing stemming from voter-approved referenda in 2008, 2009 and 2016. The portion of the property tax dedicated to debt service is approximately 9.50 cents. at $143,000. New cameras for the council chambers are included. The FY 19-20 projected budget is $6.9 million, or 2.4%, higher than the FY 18-19 budget. Contributions for debt service expenses will increase from $26.0 million in FY 18-19 to $26.4 million in FY 19-20. Capital outlay expenditures are budgeted

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