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Total Budget-Revenues
Interfund Transfers
Interfund transfers are contributions made by one
fund to support operations in another fund, such as
contributions from the General Fund to the Solid
Waste Management Fund to support refuse
disposal, and contributions to the Debt Service Fund
to support voter-approved bond project financing.
Budgeted interfund transfers for FY 16-17 are $37.6
million, about $2.9 million above the revised FY 15-16
budget.
The General Fund transfer to the Debt Service Fund
provides for most of this increase. The transfer
increases from $18.3 million in FY 15-16 to $21.2
million for FY 16-17. This increase is necessary to
support debt service principal and interest expenses
associated with successful bond referenda in 2006,
2008 and 2009.
The General Fund contribution to the Solid Waste
Management Fund increases slightly from $1.8 to
$1.9 million. The General Fund transfer to the War
Memorial Coliseum Fund will increase from $2.5
million to $2.7 million. The General Fund contribution
to the Guilford Metro Communications Fund will
increase from $4.7 million to $4.9 million. Finally, the
General Fund contribution for the Cemeteries Fund
increases from $415,160 to $437,800.
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.
Fund Balance
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.”
Appropriated fund balance budgets across all funds
decrease from $37.6 million in FY 15-16 to $28.5
million for FY 16-17.
Two funds in particular are appropriating far less
fund balance for FY 16-17 as compared to the
current year. The Emergency Telephone System
Fund was required by the State of North Carolina
911 Board to spend down its available fund balance
in FY 15-16. The fund budgeted $1.1 million in fund
balance in the current year, while only budgeting
$180,000 for FY 16-17.
The Water Resources Fund is also reducing its
reliance on fund balance to balance the FY 16-17
budget. The fund will use $9.1 million in fund
balance for FY 16-17 as compared to $14.3 million in
the current year.
Appropriated fund balance for the General Fund is
$6.65 million, or 2.4%, of the total fund budget. A
one time $1.1 million appropriation from the capital
reserve is included in this number for the MMOB roof
and skylight replacement project.