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6

City of Raleigh

Financial Section

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS

For the Fiscal Year Ended June 30, 2016

Nonmajor

Total

Park Bond Governmental

Governmental

General Fund

Fund

Funds

Funds

REVENUES

Ad valorem taxes

227,933,522

$

-

$

-

$

227,933,522

$

Intergovernmental

49,430,941

63,281

45,345,488

94,839,710

Non-governmental

-

-

2,658

2,658

Assessments

-

-

1,293,692

1,293,692

Local sales tax

88,837,128

-

-

88,837,128

Licenses

14,772,255

-

-

14,772,255

Gain (loss) on investments

2,910,876

77,421

1,625,638

4,613,935

Inspections fees

12,757,022

-

-

12,757,022

Highway maintenance refunds

857,298

-

-

857,298

Facility fees

-

-

9,891,183

9,891,183

Other fees and charges

16,087,230

-

-

16,087,230

Rents

388,626

-

330,525

719,151

Program income

79,244

-

822,910

902,154

Other revenues

2,666,165

219,044

101,919

2,987,128

Total revenues

416,720,307

359,746

59,414,013

476,494,066

EXPENDITURES

Current:

General government

40,497,325

-

5,593,120

46,090,445

Community development services

16,712,559

-

3,239,193

19,951,752

Public works

24,091,448

-

51,583,681

75,675,129

Public safety

151,284,210

-

37,554,750

188,838,960

Leisure services

56,305,414

56,578,179

5,151,847

118,035,440

Economic development programs

5,972,166

-

1,007,041

6,979,207

Debt service:

Principal

34,399,797

-

-

34,399,797

Interest

21,361,987

-

-

21,361,987

Other debt service expenditures

745,493

-

-

745,493

Total expenditures

351,370,399

56,578,179

104,129,632

512,078,210

Excess (deficiency) of revenues

over (under) expenditures

65,349,908

(56,218,433)

(44,715,619)

(35,584,144)

OTHER FINANCING SOURCES (USES)

Transfers in

8,201,233

531,559

31,605,434

40,338,226

Transfers out

(58,908,035)

-

(32,081,991)

(90,990,026)

Bonds issuance

675,477

52,000,000

8,216,594

60,892,071

Premium on bonds issued

-

-

335,207

335,207

Refunding note issuance

40,019,598

-

-

40,019,598

Refunding bonds issuance

118,105,000

-

-

118,105,000

Payment to refunded bond escrow agent

(158,124,598)

-

-

(158,124,598)

Proceeds from sale of property

-

-

7,574,207

7,574,207

Total other financing sources (uses)

(50,031,325)

52,531,559

15,649,451

18,149,685

Net change in fund balances

15,318,583

(3,686,874)

(29,066,168)

(17,434,459)

Fund balances, beginning of year

249,826,914

50,387,952

273,451,227

573,666,093

Restatement, LEO separation allowance

3,077,172

-

-

3,077,172

Fund balances, restated

252,904,086

50,387,952

273,451,227

576,743,265

Fund balances, end of year

268,222,669

$

46,701,078

$

244,385,059

$

559,308,806

$

The notes to the financial statements are an integral part of this statement.

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