15
Total Budget-Revenues
Other Revenues
Revenues not otherwise defined are included in this
category. These include interest income, internal
service charges, proceeds of capitalized leases,
donations and sale of assets. Internal charges, or
charges assessed by one department for services
rendered for another, are captured in this category.
This includes internal printing charges, garage and
fleet maintenance charges and computer service
and maintenance charges.
Revenues for this category are budgeted for FY 14-
15 at $100.0 million. The $5.2 million drop from FY
13-14 to FY 14-15 is due to the refinancing of general
obligation bonds that occurred during FY 13-14. This
created a one-time revenue entry of approximately
$6.8 million.
Employer paid premiums into the Risk Retention
(Health Insurance) Fund on behalf of employees for
health insurance are budgeted to increase from
$24.0 million to $26.0 million.
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 14-15 are $34.0
million, about $278,000 higher than the revised FY
13-14 budget. There are examples of both transfer
increases and decreases between funds that roughly
offset each other on a total budget basis.
The General Fund contribution to the Solid Waste
Management Fund is lowered from the FY 13-14
amount of $2.46 million to $1.78 million. The
General Fund contribution does increase, however,
for the Cemeteries Fund (from $423,100 to
$451,300), the War Memorial Coliseum Fund (from
$2.21 million to $2.34 million) and for the Guilford
Metro Communications Fund (from $4.29 million to
$4.42 million).
The transfer from the Powell Bill Fund to the General
Fund is budgeted at $5.85 million, the same as
current year. 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 amounts across all funds
increase from $32.0 million in FY 13-14 to $33.3
million for FY 14-15.
Appropriated fund balance for the General Fund is
$4.23 million, or 1.6%, of the total budget. This
appropriation level is slightly above the budgeted
figure of $3.88 for FY 13-14.
The Debt Service Fund budgeted appropriated fund
balance for FY 13-14 in excess of $3 million.
However, revised projections expect needing only $1
million during this year and only $445,000 is
budgeted for FY 14-15. The Water Resources Fund
is budgeting $11.5 million in appropriated fund
balance to support operations in FY 14-15,
compared to $8.1 million in the current year.
