Expenditures( 3-Year Trend)
Categories of Fund Balance
TOWN OF GARNER / FINANCE GarnerNC. gov
Public safety( police and fire-rescue)
FY 22-23 FY 23-24 FY 24-25 $ 19,061,406 $ 23,257,923 $ 24,274,699
General government 10,666,184 13,163,990 17,062,557
Transportation( incl. street maintenance)
4,468,398 5,556,123 4,798,983
Debt service 5,053,164 6,139,888 6,929,840 Cultural / recreational 5,076,795 5,607,900 5,730,265
Environmental protection( incl. solid waste and recycling)
Expenditures( 3-Year Trend)
2,789,690 3,104,241 3,384,935
Total $ 47,115,637 $ 56,830,065 $ 62,181,279
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 $ 62.2 million. The cost of public safety programs accounted for 39 percent of expenditures, while general government functions accounted for 27.4 percent. Expenditures increased year over year due to inflationary pressures on the costs of providing services including labor costs.
The FY 24-25 budget was an ambitious and strategic plan designed to meet the Town’ s priorities and needs for the fiscal year and to position the Town for success in the future. The budget continued to emphasize the value of recruiting and retaining great employees. This was accomplished through a pay increase for supplemental part-time staff and enhanced insurance benefits for full-time employees. Garner continued to invest in the safety of its residents and community with additional police officers and building inspections staff being funded. The FY24-25 budget creates a strong foundation for success that directly aligns with Town Council’ s goals and priorities.
Fund Balance in General Fund for FY 24-25
Overall, general fund revenues and other financing sources exceeded expenditures and transfers by $ 13.5 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 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 24- 25 totaled $ 34.6 million, an amount equal to 44.6 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 $ 66.6 million.
Categories of Fund Balance
Unassigned $ 34,557,324 Assigned 1,731,085 Committed 19,139,487 Restricted 10,294,452 Nonspendable 893,581 Total $ 66,615,929
POPULAR ANNUAL FINANCIAL REPORT 2025 | 13