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Adopted FY 2017-18 Budget
BUDGET HIGHLIGHTS
The FY 17-18 Budget is increasing by $123,000, or by 8.9%.
The FY 17-18 Budget includes support for the NC A&T Track Event, the National Folk Festival and
regional economic development initiatives through the Guilford County Economic Development Alliance.
FY 17-18 Community Partners Board funding includes $75,000 for Triad Stage; $25,000 for Triad Local
First; $25,000 for 17 Days Festival; $35,000 for the Piedmont Film Commission; $200,000 for Greensboro
Community Development Fund; $100,000 for Launch Lab; $50,000 for East Greensboro Now; and $50,000
for DGI.
The FY 17-18 Budget includes receiving a transfer of 1 FTE from Economic Development and Business
Support.
PROGRAMS
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Appropriation
1,100,986
1,378,000
1,501,000
1,626,675
Full Time Equivalent Positions
0
0
1
1
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
0
0
130,492
134,675
Maintenance & Operations
1,100,986
1,378,000
1,370,508
1,492,000
Capital Outlay
0
0
0
0
Total
1,100,986
1,378,000
1,501,000
1,626,675
Total FTE Positions
0.000
0.000
1.000
1.000
Revenues:
Property Taxes
1,280,856
1,292,000
1,365,000
1,387,000
Fund Balance
304,455
10,000
50,000
153,675
Other Revenue
390,021
76,000
86,000
86,000
Total
1,975,332
1,378,000
1,501,000
1,626,675
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.