Expenditures ( 3-Year Trend )
Categories of Fund Balance
TOWN OF GARNER / FINANCE GarnerNC . gov
Public safety ( police and fire-rescue )
FY 21-22 FY 22-23 FY 23-24 $ 16,573,982 $ 19,061,406 $ 23,257,923
General government 9,544,324 10,666,184 13,163,990
Transportation ( incl . street maintenance )
5,858,366 4,468,398 5,556,123
Debt service 4,050,673 5,053,164 6,139,888 Cultural / recreational 6,030,107 5,076,795 5,607,900
Environmental protection ( incl . solid waste and recycling )
Expenditures ( 3-Year Trend )
2,428,722 2,789,690 3,104,241
Total $ 44,486,174 $ 47,115,637 $ 56,830,065
from permits and fees . The primary revenue in this category is building permit fees accounting for 64.1 percent of all revenues . This category is representative of the explosive residential and commercial growth Garner has been experiencing for several years and continues to see .
The total cost of general fund programs and services was $ 56.8 million . The cost of public safety programs accounted for 40.9 percent of expenditures , while general government functions accounted for 23.2 percent . Expenditures increased year over year due to inflationary pressures on the costs of providing services including labor costs .
The FY 23-24 budget provided much-needed funding to meet growth demands . The budget emphasized the value of recruiting and retaining great employees . Funding was provided to implement a pay-and-class study along with a mid-year market rate adjustment to support the enhanced employment efforts . Public safety was another priority with additional firefighting positions , life safety equipment and fire inspections staffing . The FY 23-24 budget addressed both the opportunities and challenges that have emerged due to Garner ’ s fast growth .
Fund Balance in General Fund for FY 23-24
Overall , general fund revenues and other financing sources exceeded expenditures and transfers by $ 6.2 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 , emergencies , balancing the budget and managing cash flow during the year .
The chart on the right shows 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 FY 23- 24 totaled $ 24.8 million , an amount equal to 41.2 percent of the Town ’ s total expenditures . The Town ’ s fund balance policy calls for a minimum unassigned balance of 30 percent . Total fund balance in the general fund stood at $ 53.1 million .
Categories of Fund Balance
Unassigned $ 24,828,254 Assigned 1,781,629 Committed 17,810,699 Restricted 7,773,419 Nonspendable 914,447 Total $ 53,108,448
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