Popular Annual Financial Report - 2016 For the fiscal year ended June 30, 2016 | Page 9

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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