23 / 159
16
Adopted FY 2017–18 Budget
Total Budget-Revenues
million for FY 17-18. This increase will provide the
necessary support to fund debt service principal and
interest expenses associated with successful bond
referenda in 2008, 2009 and 2016.
The General Fund contribution to the Solid Waste
Management Fund drops slightly from $1.9 million to
$1.8 million. The General Fund transfer to the War
Memorial Coliseum Fund will increase from $2.7
million to $2.9 million. The General Fund contribution
to the Guilford Metro Communications Fund will
decrease slightly from $7.86 million to $7.71 million.
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 $32.6 million in FY 16-17 to $30.8
million for FY 17-18.
The single largest fund reduction occurs in the
General Insurance Fund, where appropriated fund
balance will be reduced from $6.6 million in the
current year to $2.7 million in FY 17-18. In
November 2016, the FY 16-17 General Insurance
Fund budget was amended to complete a law
enforcement related claim previously approved by
City Council.
The Water Resources Fund will appropriate $8.1
million to balance the FY 17-18 budget, compared to
$9.2 million in fund balance for FY 16-17.
Appropriated fund balance for the General Fund is
$6.60 million, or 2.3%, of the total Adopted General
Fund budget. A portion of the appropriated fund
balance, $1.275 million, would be appropriated from
the general capital reserve. This funding would be
used to improve and upgrade technology at the
Public Safety Training Center, upgrade the card
entry security at various City facilities and begin
building upgrades and renovations at the Cultural
Arts Center.