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For FY 17
-
18, the electric sales tax is projected at
$17.3 million, about 3% higher than the revised
current year estimate. Piped Natural Gas sales
tax is projected to be lower in the current year as
compared to FY 15
-
16 and to drop further during
FY 17
-
18. The FY 17
-
18 projection of $822,000
is 4% below the revised current year estimate.
ABC Profit Distribution
The Greensboro ABC Board distributes its net
profits (after deducting amounts required for law
enforcement, alcohol education and working
capital) as follows: 91.9% is distributed to
Greensboro, 1.6% is distributed to Summerfield
with the remaining 6.5% distributed among
Guilford County and municipalities without ABC
outlets. Revenues of $3.68 million are estimated
for FY 17
-
18, which are roughly 2% higher than
the current year estimate of $3.61 million.
Building Development Fees
Building development fee revenue continues to
improve with revenue for the current year
expected to range between 7 and 8% higher
than last year. Through March 2017 (nine
months of the fiscal year), the total number of
building permits are 10% higher than the same
time period in FY 15
-
16.
For FY 17
-
18, building permit fee revenue is
projected at $3.28 million, about 6% above
revised current year estimate of $3.09 million.
Other Revenues
Other revenues in the General Fund include
departmental charges, user fees, fines, licenses
and other miscellaneous revenues. These
revenues are estimated at $26.8 million, similar
to the current year budget.
Commercial refuse collection fees are budgeted
at $4.70 million, about the same as revised
current year estimates.
Budgeted rental income is reduced from
$529,000 to $389,000 due to the sale of the
Dorothy Bardolph Building, which was finalized
during FY 16
-
17.
Transfers from Other Funds
The General Fund typically receives transfers
from Special Revenue Funds which have been
established to account for specific revenue
sources received by the City.
The transfer from the State Highway (Powell Bill)
Fund is budgeted at $5.65 million to offset a
variety of eligible transportation expenses
budgeted in the General Fund. The General
Fund will also receive a contribution from
Transportation Bond Funds in the amount of
$720,000 to offset some of the eligible
professional services expenditures absorbed in
the General Fund.
Fund Balance
The fund balance appropriation for the FY 17
-
18
General Fund Adopted Budget is $6.6 million, or
2.3%, of the total budget. A $1.27 million capital
reserve appropriation is included to fund facility
upgrades at the Public Safety Training Center,
the Cultural Arts Building and upgrades for
building entry security at various City facilities.
The total amount does not include additional
fund balance appropriations that will be
necessary to carry forward outstanding purchase
orders at the end of FY 16
-
17.
Fund Summary
-
General Fund