2018-2019 Adopted Budget

TOTAL BUDGET— EXPENDITURES

The FY 18-19 net adopted budget (all funds) of $543,467,569 is about $6.9 million, or 1.3%, higher than the revised FY 17-18 budget. The Infrastructure service area is the largest service area at over $283.6 million. The budget is $9.6 million, or 3.5% greater than the revised current year budget. The Water Resources Fund increases from $127.0 million to $134.7 million, an increase of $7.7 million. Debt service costs drive a portion of this overall change, increasing from $26.5 million to $29.6 million. Balancing current financing, or “pay- as-you-go” capital project financing with debt financing, Water Resources will increase the transfer to various capital reserve funds from $29.8 million to $33.1 million. The Parking Fund will begin accumulating funds for debt service associated with a new downtown parking deck under construction during FY 18-19. Downtown parking deck rates will increase January 1, 2019 to partially support this capital improvement project.

The Public Safety service area increases from $142.8 million to $144.7 million. Small increases have been included in the budget to cover increased costs of firefighter physicals and the periodic replacement of firefighter turnout gear. The Community Services service area decreases from $45.6 million to $42.2 million. The current year budget included an $8 million transfer from the Hotel/Motel Occupancy Fund to the Coliseum Improvements Fund to finance several projects, such as construction of the Greensboro Swarm Fieldhouse. This transfer is reduced to $5 million for FY 18-19, which is the final transfer associated with these projects. The FY 19-20 projected budget is 1.3% higher than the FY 18-19 adopted budget. An additional ten positions are planned for the Tanger Center for the Performing Arts, expected to open late in FY 19-20.

Total Net Expenditures by Expenditure Category

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Category

Actual

Personnel Costs

217,471,272 201,529,167 45,899,321 25,367,673

233,059,918 223,529,494 62,504,745 17,442,233

238,883,076 219,031,319 68,389,154 17,164,020

245,258,002 215,233,807 75,207,049 14,773,500

Maintenance & Operations

Debt Service Capital Outlay

Total Expenditures

490,267,433

536,536,390

543,467,569

550,472,358

Budgeted personnel costs are 2.5% higher than the current year budget, including a net increase of about twelve (12) full-time equivalent (FTE) positions within the total operating budget. The budget includes a net increase of five (5) FTE positions for the Coliseum, including two related to the Aquatic Center and three related to the Tanger Center for the Performing Arts. Maintenance and Operations (M/O) costs, which include transfers from operating funds to capital projects or capital reserve funds, are reduced from $223.5 million in FY 17-18 to $219.0 million in FY 18-19. The Hotel/Motel Occupancy Fund continues to provide financing for a variety of War Memorial Coliseum Complex improvements, such as the Greensboro Swarm Fieldhouse. A final transfer is budgeted at $5.0 million for FY 18-19, $3 million below the current year. The current year budget includes a $1.3 million transfer from the Solid Waste Operating Fund to the Solid Waste Capital Reserve Fund for closure

activities at the White Street Landfill. transfer is necessary in FY 18-19.

No such

Water Resources Fund will increase its contribution to the Water Resources Capital Reserve Fund from $29.8 million to $33.1 million. These contributions fund a variety of water system infrastructure maintenance and repair and help contain the overall amount of debt financing necessary for the system. are increasing from $62.5 million to $68.4 million. This will provide the necessary ongoing support for debt service related to successful referenda in 2008, 2009 and 2016. Water Resources debt service costs will increase from $26.5 million to $29.6 million. Capital outlay expenditures are budgeted at $17.2 million, about $278,000 below current year. The Equipment Services Fund is projecting rolling stock replacement needs of $11.6 million in FY 18-19 as compared to $11.2 million in the current year. Overall budgeted debt service expenses

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