Revenues, Expenditures, Changes in Fund Balance
General Fund Expenditures
|
FY 15-16 |
FY 14-15 |
General government |
$ 6,780,440 |
$ 5,688,444 |
Public safety |
10,751,421 |
10,341,777 |
Transportation |
2,708,200 |
2,350,138 |
Environmental protection |
1,853,286 |
1,768,301 |
Cultural / recreational |
2,795,777 |
2,620,696 |
Debt service |
2,792,645 |
2,270,816 |
TOTAL |
$ 27,681,769 |
$ 25,040,172 |
Debt
10.1 %
Categories 10 % of
C / R und Balance 10 %
Cultural / recreational 10.1 %
Environmental 6.7 %
Transportation
10 %
9.8 %
Debt service
PS
38.8 39 % %
Gen 24 %
General gov’ t 24.5 %
Public safety
Categories of Fund Balance
Nonspendable $ 27,685 Restricted 3,440,208 Committed 4,200,667 Assigned 1,052,211 Unassigned 17,940,081 TOTAL $ 26,660,852
Unassigned 67 %
Unassigned
67 %
Nonspendable near 0 %
Restricted Restricted 13 13
%
Committed
Committed 16 % 16 %
Assigned 4 4 %
transfers by $ 2.194 million, which was added to the Town’ s fund balance. Fund balance is like a savings account for the Town and can be used to fund capital projects, balance the budget and for emergencies or cash flow during the year.
The graphics above show the different categories of fund balance. These categories represent any external or Town Council-initiated restrictions on how fund balance can be used. Unassigned is the least restrictive and can be used for any purpose.
Unassigned fund balance at the end of fiscal year 2016 totaled $ 17.94 million, an amount equal to 65 percent of expenditures. The Town’ s policy is a minimum of 30 percent. Total fund balance stood at $ 26.66 million.
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