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Adopted FY 2016-17 Budget
BUDGET HIGHLIGHTS
The FY 16-17 Adopted Budget is decreasing by $224,655, or 14.0%. During FY 15-16, the ED Fund
appropriated $255,000 in fund balance as part of the fund’s overall support for Renaissance Plaza.
The FY 16-17 Adopted Budget includes support for the Triad Stage and the National Folk Festival.
PROGRAMS
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Appropriation
1,639,079
1,602,655
1,378,000
1,388,000
Full Time Equivalent Positions
0
0
0
0
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
23,706
0
0
0
Maintenance & Operations
1,615,373
1,602,655
1,378,000
1,388,000
Capital Outlay
0
0
0
0
Total
1,639,079
1,602,655
1,378,000
1,388,000
Total FTE Positions
0.000
0.000
0.000
0.000
Revenues:
Property Taxes
1,260,981
1,271,000
1,292,000
1,312,000
Fund Balance
676,373
255,655
10,000
0
Other Revenue
80,410
76,000
76,000
76,000
Total
2,017,764
1,602,655
1,378,000
1,388,000
ECONOMIC DEVELOPMENT FUND
BUDGET SUMMARY
Economic Development Fund
The Economic Development Fund was established by City Council. The one-half cent is set aside from Ad Valorem (Property) Tax
revenues to support Fund activities. 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.
Provide on-going support of outside non-profit agencies in an effort to stimulate the local economy.
Promote City Council's continuing focus on a more formalized approach to small and emerging businesses in partnership with
the local assistance community.