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116

City of Raleigh

Financial Section

SCHEDULE OF REVENUES AND EXPENDITURES

BUDGET (MODIFIED ACCRUAL BASIS) AND ACTUAL

PARKING FACILITIES OPERATING FUND

For the fiscal year ended June 30, 2016

Over

(Under)

Actual

Budget

Budget

REVENUES

Parking fees

$

14,880,729

$

15,221,428

$

(340,699)

Gain (loss) on investments

83,932

48,000

35,932

Miscellaneous other

29,075

-

29,075

Total revenues

14,993,736

15,269,428

(275,692)

OTHER FINANCING SOURCES

Proceeds from sale of capital assets

738,632

-

738,632

Refunding bonds issued

13,200,000

13,200,000

-

Transfers from:

General fund

500,000

500,000

-

Risk management fund

17,440

17,440

-

Total other financing sources

14,456,072

13,717,440

738,632

Total revenues and other financing sources

$

29,449,808

28,986,868

$

462,940

Fund balance appropriated

5,971,967

$

34,958,835

EXPENDITURES

Operating expenditures

$

6,873,352

$

9,858,616

$

(2,985,264)

DEBT SERVICE

Bond principal

380,114

380,114

-

Bond interest

16,957

16,957

-

Note principal

3,555,000

3,415,000

140,000

Note interest

1,795,007

2,688,600

(893,593)

Other debt service expenditures

238,397

384,329

(145,932)

Total debt service

5,985,475

6,885,000

(899,525)

OTHER FINANCING USES

Payment to refunded bond escrow agent

13,200,000

13,200,000

-

Transfers to:

Parking facilities capital projects fund

4,855,500

4,855,500

-

Technology capital projects fund

19,719

19,719

-

Vehicle fleet services fund

140,000

140,000

-

Total other financing uses

18,215,219

18,215,219

-

Total expenditures and other financing uses

$

31,074,046

$

34,958,835

$

(3,884,789)

116