garnernc . gov
EXPENDITURES ( 3-YEAR TREND )
FY 19-20 FY 20-21 FY 21-22
Public safety |
|
|
|
( police and fire ) |
$ 13,279,336 |
$ 15,643,025 |
$ 16,573,982 |
Debt service 8,569,581 3,994,431 4,050,673 General government 7,970,199 9,349,738 9,544,324
Transportation |
|
|
|
( incl . street maintenance ) |
3,622,653 |
5,435,599 |
5,858,366 |
Cultural / recreational 3,466,375 3,624,123 6,030,107
Environmental protection |
|
|
|
( incl . solid waste and |
|
|
|
recycling ) |
2,170,760 |
2,277,683 |
2,428,722 |
TOTAL $ 39,078,904 $ 40,324,599 $ 44,486,174
stream that exceeded prior year collections .
The total cost of general fund programs and services was $ 44.5 million . The cost of public safety programs accounted for about 37.2 percent of expenditures , while general government functions accounted for 21.4 percent . Expenditures were up across the board due to additional personnel added and rising operating costs due to inflation and costs of goods .
The property-tax-rate increase in the FY 21- 22 budget enabled the Town to fund several priorities including fleet managers and an IT / Communications technician position necessitated primarily by continued growth , critical building maintenance needs and a sidewalk maintenance program .
Total expenditures per capita increased from $ 1,233 in FY 20-21 to $ 1,278 for FY 21-22 .
FUND BALANCE
Overall , general fund revenues and other financing sources exceeded expenditures and transfers by $ 1.7 million , which was added to the Town ’ s fund balance . Fund balance is akin to a savings account for the Town and can be used to fund capital projects , emergencies , balancing the budget and managing cash flow during the year .
The chart to the right shows the categories of fund balance for the general fund . These categories take into account 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 FY 21-22 totaled $ 13.7 million , an amount equal to 30.8 percent of expenditures ( the Town ’ s fund-balance policy calls for a minimum of 30 percent ). Total fund balance stood at $ 30.5 million .
CATEGORIES OF FUND BALANCE IN FY 21-22
Unassigned $ 13,690,424 Assigned 1,271,062 Committed 11,061,364 Restricted 4,400,832 Nonspendable 117,787 TOTAL $ 30,541,469
POPULAR ANNUAL FINANCIAL REPORT 2022 | 13