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MD&A-15

City of Raleigh

Management’s Discussion and Analysis

Highlights of the City’s budget for the 2016-17 fiscal year include the following:

• The 2016-17 combined budgets for operating and capital programs totals $859.0 million, representing a 3.0%

overall increase over the 2015-16 combined budget.

• The adopted General Fund budget for 2016-17 of $466.3 million increased 7.2% over the prior year adopted

budget.

• The primary revenue source, property taxes, is budgeted at $242.9 million, an increase of $16.2 million,

or 7.1% from 2015-16. This projection includes the results of the county property tax revaluation adjusted

tax rate dedications of 1 cent for housing and 1 cent for the Dix property acquisition.

• The 2016-17 budget for sales tax is $91.1 million, an increase of $4.4 million, or 5.0% from 2015-16.

• Consistent with the City’s multi-year utility rate model, the budget for water and sewer charges increased 3.5%

from $215.5 million to $223.1 million for the 2016-17 budget year. This increase is attributed to water and sewer

rate adjustments.

• The 2016-17 capital budget includes new and/or continuing projects totaling $180.0 million, including projects

for roads, parks, utilities and general public facilities.

REQUESTS FOR INFORMATION

This report is designed to provide readers with a full accountability of the City of Raleigh’s finances. Questions

concerning any of the information provided in this report or requests for additional financial information should

be addressed to the:

Office of the Chief Financial Officer

City of Raleigh

PO Box 590

Raleigh, North Carolina 27602

(919) 996-4930