While the focus of governmental funds is narrower than that of the government-wide financial statements, it is
still useful to compare the information presented for
with similar information presented for
in the government-wide financial statements. By doing so, readers may better understand
the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance
sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a
reconciliation to facilitate this comparison between
The Citymaintains eighteen individual governmental funds. Information is presented separately in the governmental
fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balance
for the general fund, which is considered to be a major fund. Data from the other seventeen governmental funds are
combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental
funds is provided in the form of
elsewhere in this report.
The City adopts an annual appropriated budget for its general fund. A budgetary comparison statement has been
provided for the general fund to demonstrate compliance with this budget.
The basic governmental fund financial statements can be found on pages 4 - 10 of this report.
The City of Raleigh maintains two different types of proprietary funds.
to report the same functions presented as
in the government-wide financial statements.
The City uses enterprise funds to account for its water and sewer, convention and performing arts complex (referred
to as convention center) operations, parking facilities, mass transit, stormwater management operations, and solid
Internal service funds
are an accounting device used to accumulate and allocate costs internally
amongst the City’s various functions. The City of Raleigh uses internal service funds to account for governmental
and business-type activities, such as risk management, employees’ health benefits trust and vehicle fleet services.
The City also maintains equipment replacement funds for governmental, solid waste services and public utilities.
These internal services benefit government-wide functions except for the public utilities and solid waste services
equipment replacement funds, which benefit business-type functions. These services have been included within
their respective predominant activities in the government-wide financial statements.
Proprietary fund statements provide the same type of information as the government-wide financial statements,
only in more detail. The proprietary fund financial statements provide separate information for the six enterprise
funds, all reported as major. Conversely, all internal service funds are combined into a single, aggregated
presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is
provided in the form of
elsewhere in this report.
The basic proprietary fund financial statements can be found on pages 12 - 19 of this report.
Fiduciary funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are
reflected in the government-wide financial statement because the resources
of those funds are
available to support the City’s own programs. The accounting used for fiduciary funds is
much like that used for proprietary funds.
The basic fiduciary fund financial statements can be found on pages 20 - 21 of this report.
Notes to the financial statements.
The notes provide additional information that is essential to a full understanding
of the data provided in the government-wide and fund financial statements. The notes to the financial statements
can be found on pages 22 - 68 of this report.
In addition to the basic financial statements and accompanying notes, this report also presents
required supplementary information
concerning the City of Raleigh’s progress in funding its obligation
to provide pension benefits to City employees, which includes Other Post-Employment Benefits (OPEB), Local
Government Employees’ Retirement System (LGERS), as well as Law Enforcement Officers (LEO). Required
supplementary information can be found on pages 69 - 73 of this report.
City of Raleigh
Management’s Discussion and Analysis