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Budget and Fiscal Framework

The City of Raleigh prepares its annual budget and carries out its fiscal affairs within a framework of state law,

accounting standards, best practices and local policy. This section discusses how the City’s accounting and

budgetary system is organized and key financial policies that guide budget development.

Basis of Budgeting

Keeping within state law, the budget is prepared and accounted for on a modified accrual basis for the general

fund, enterprise operating funds and new convention center financing fund. All other funds including capital project

funds adopt multi-year project budgets.

In keeping with Generally Accepted Accounting Principles, financial statements for proprietary funds are prepared

on a full accrual basis. A reconciliation of the full accrual basis to modified accrual basis (budgetary basis) is

included in the annual financial statements for enterprise funds.

Fund Structure/Service Functions Relationship

The chart below reflects the interaction of the service functions of the City and the City’s operating budget fund

structure, showing the funds which provide resources to each function.

Funds

General

Government

Infrastructure

& Public

Services

Public Safety

Leisure

Services

Public

Utilities

Debt Service

General

X

X

X

X

X

Economic

Development

X

Public Utilities

X

UtilityInfrastructure

X

Solid Waste

Operations

X

Stormwater Utility

X

RCCC/PAC

Operations

X

Walnut Creek Amp.

Operations

X

Revolving

X

X

X

X

Public Transit

X

Parking Facilities

X

Emergency Telephone

X

Housing Development

X

Community

Development

X

General Debt Svc

X

Utility Debt Svc

X

Parking Debt Svc

X

Solid Waste Debt Svc

X

Housing Bond

Reserve

X

Convention Center

Financing

X

RCC/PAC Debt Svc

X

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