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MD&A-7

City of Raleigh

Management’s Discussion and Analysis

Changes in Net Position

(in millions of dollars)

Governmental

Activities

Business-type

Activities

Total

Activities

2015 2016 2015 2016 2015 2016

Revenues:

Program revenues:

Charges for services

$46.2

$43.6

$289.1 $308.2

$335.3

$351.8

Operating grants and contributions

35.3

39.8

9.0

7.7

44.3

47.5

Capital grants and contributions

10.1

11.8

13.7

4.8

23.8

16.6

General revenues:

Property taxes

214.3

227.7

-

-

214.3

227.7

Other taxes

135.8

139.8

-

-

135.8

139.8

Other

20.5

19.5

2.0

3.8

22.5

23.3

Total revenues

462.2 482.2

313.8

324.5

776.0

806.7

Expenses:

General government

37.4

46.4

-

-

37.4

46.4

Community development services

22.9

20.1

-

-

22.9

20.1

Public works

50.7

58.2

-

-

50.7

58.2

Public safety

147.9

156.6

-

-

147.9

156.6

Leisure services

63.8

66.8

-

-

63.8

66.8

Economic development programs

4.9

7.0

-

-

4.9

7.0

Interest on long-term debt

18.7

20.9

-

-

18.7

20.9

Water and sewer

-

-

146.9

152.9

146.9

152.9

Convention center complex

-

-

33.9

34.7

33.9

34.7

Mass transit

-

-

37.9

38.2

37.9

38.2

Parking facilities

-

-

11.5

12.4

11.5

12.4

Solid waste services

-

-

28.4

32.3

28.4

32.3

Stormwater management

-

-

12.2

13.4

12.2

13.4

Total expenses

346.3

376.0

270.8

283.9

617.1

659.9

Increase in net position before transfers 115.9

106.2

43.0

40.6

158.9

146.8

Transfers in (out)

(54.8)

(51.1)

54.8

51.1

-

-

Gain on the sale of property

0.2

7.6

-

-

0.2

7.6

Increase in net position

61.3

62.7

97.8

91.7

159.1

154.4

Net position, beginning of year

955.8

986.2

992.0

1,081.7

1,947.8

2,067.9

Restatement

(30.9)

3.1

(8.1)

-

(39.0)

3.1

Net position, end of year

$986.2 $1,052.0 $1,081.7 $1,173.4 $2,067.9 $2,225.4