9
The FY 14-15 Net Adopted Budget (all funds) is
about $3.31 million, or 0.7% higher than the revised
FY 13-14 budget. The current year budget includes
a one-time $6.8 million bond refinancing charge that
occurred in February 2014. Absent this one-time
charge, the FY 14-15 Adopted Budget would be
about 2.2% greater than the current year budget.
Budget changes in various funds and departments,
particularly the service reductions and FTE deletions
recommended to balance the budget, are described
in greater detail throughout this document.
The Infrastructure Result Area, the largest service
area at $244.1 million, shows an increase of $5.0
million. The Water Resources Fund budget
increases 5.8%, or about $6.0 million. Water
Resources will increase the contribution to its
capital reserve fund for future capital projects from
$18.7 million to $22.2 million. The Solid Waste
Management Fund is reduced from $17.6 million to
$15.1 million. This reduction is due to continued
cost reductions from contractual re-negotiations and
other efficiencies. It is also due to a transfer of $1.1
million to the Solid Waste Management Capital
Improvements Fund made during FY 13-14 for
landfill closure activities. A similar transfer is not
budgeted for FY 14-15.
The Public Safety Result Area increases from
$122.8 million to $129.5 million. As discussed in
greater detail in the result area section, the adopted
budget includes several program enhancements,
including the new Reedy Fork Fire Station, a new
Fire engine company for east Greensboro and
several budget enhancements for the Police
Department.
The Community Services Result Area increases
from $34.5 million to $35.5 million. This service
area includes the new McNairy Branch Library and
the new Griffin Recreation Center. It also includes
the newly formed Neighborhood Development
Department, previously within the Planning
Department.
The Projected FY 15-16 Budget is 1.3% higher than
the FY 14-15 Adopted Budget.
Budgeted personnel costs are 2.9% higher than the
current year budget, including a net increase of
about twenty-two (22) full-time equivalent (FTE)
positions within the total operating budget. Fifteen
(15) positions are added to the Fire Department
budget for the new east Greensboro engine
company. Nine (9) positions have been added to
the Water Resources Fund to improve treatment
plant safety and security and to increase water and
sewer system line maintenance work.
As part of the organization’s overall budget
balancing strategy, about 8.5 FTE positions have
been eliminated. These position reductions are
discussed in detail in the appropriate departmental
budget pages throughout the document.
Maintenance and operations (m/o) costs, which
include transfers from operating funds to capital
projects or capital reserve funds, show about a $7.2
million or 3.8%, increase compared to the FY 13-14
Budget. The single largest increase in a particular
fund occurs in Water Resources. The fund’s m/o
budget is increasing from $58.3 million to $63.7
million, including an increase in the transfer to
Capital Improvements and Reserves Fund from
$18.7 million to $22.2 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.
Overall budgeted debt service expenses are
decreasing from $57.9 million to $48.0 million. This
reduction is largely due, however, to bond
refinancing that was completed in February 2014,
which generated a one-time revenue and offsetting
debt service expense of about $6.8 million. Absent
this one-time entry, budgeted debt service expenses
would still be decreasing from $51.1 million to $48.0
million.
Payments from the Debt Service Fund to retire
general obligation debt decrease from $22.0 million
to $19.3 million. Since 2012 the City has issued
less General Obligation (GO) bond debt than it has
retired, allowing for some reduction in annual debt
service costs.
TOTAL BUDGET— EXPENDITURES
2012-13
2013-14
2014-15
2015-16
Category
Actual
Budget
Adopted
Projected
Personnel Costs
195,628,243
203,911,632
209,844,563
216,138,367
Maintenance & Operations
165,268,159
189,234,815
196,445,115
196,225,431
Debt Service
51,809,109
57,912,813
48,028,462
52,636,737
Capital Outlay
13,059,087
18,364,651
18,421,559
14,100,771
Total Expenditures
425,764,598
469,423,911
472,739,699
479,101,306
Total Net Expenditures by Expenditure Category
