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Adopted FY 2015-16 Budget
BUDGET HIGHLIGHTS
The FY 15-16 Budget is decreasing by $319,196, or 18.5% due to the amount of fund balance that was
appropriated in FY 14-15. The level of programming in FY 15-16 is not decreasing.
The FY 15-16 Budget includes support for the Renaissance Center, Triad Stage, and the National Folk
Festival.
PROGRAMS
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
Appropriation
1,275,651
1,721,851
1,402,655
1,367,000
Full Time Equivalent Positions
0
0
0
0
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
43,022
64,751
0
0
Maintenance & Operations
1,232,629
1,657,100
1,402,655
1,367,000
Capital Outlay
0
0
0
0
Total
1,275,651
1,721,851
1,402,655
1,367,000
Total FTE Positions
0.000
0.000
0.000
0.000
Revenues:
Property Taxes
1,262,457
1,260,000
1,271,000
1,291,000
Other Revenue
810,099
461,851
131,655
76,000
Total
2,072,556
1,721,851
1,402,655
1,367,000
ECONOMIC DEVELOPMENT FUND
BUDGET SUMMARY
Economic Development Fund
The Economic Development Fund was established by City Council. The one-half cent set aside from Ad Valorem (Property) Tax
generates approximately $1.27 million per year. The Office of Economic Development and Business Support, established in the FY 11-
12 budget, administers the ED fund in support of a variety of City Council directed economic development initiatives. The primary
purpose of the fund is to support economic development efforts that create jobs and increase capital investment that result in a higher
quality of life. Funds set aside for Economic Development will be used to support the following programs:
Respond to economic development opportunities that arise during the year.
Promote City Council's continuing focus on a more formalized approach to small and emerging businesses in
partnership with the local assistance community.
Provide on-going support of outside non-profit agencies in an effort to stimulate the local economy.