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9

City of Raleigh

Financial Section

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

Original

Budget

Final

Budget

Actual Amounts

(Budgetary Basis)

Variance with

Final Budget -

Positive (Negative)

BUDGET AND ACTUAL - GENERAL FUND

For the Fiscal Year Ended June 30, 2016

Leisure services:

Parks and recreation

54,435,874

$

56,887,124

$

51,500,891

$

5,386,233

$

Walnut Creek Amphitheatre

194,625

195,248

165,873

29,375

Continuing recreation activities

7,822,627

8,304,665

4,638,650

3,666,015

Total leisure services

62,453,126

65,387,037

56,305,414

9,081,623

Debt service:

Principal and interest

73,607,927

73,607,927

55,761,784

17,846,143

Other debt service expenditures

1,285,000

2,118,886

745,493

1,373,393

Total debt service

74,892,927

75,726,813

56,507,277

19,219,536

Total expenditures before charge-out

408,732,444

422,130,818

373,295,420

48,835,398

Less: administrative costs charged

to other funds

22,400,999

22,400,999

21,925,021

475,978

Total expenditures

386,331,445

399,729,819

351,370,399

48,359,420

Excess (deficiency) of revenues

over expenditures

21,021,839

8,485,739

65,349,908

56,864,169

OTHER FINANCING SOURCES (USES)

Transfers in

8,229,917

8,229,917

8,201,233

(28,684)

Transfers out

(54,865,942)

(61,632,534)

(58,908,035)

2,724,499

Refunding bond issued

-

-

675,477

675,477

Total other financing sources (uses)

(46,636,025)

(53,402,617)

(50,031,325)

3,371,292

Net changes in fund balance

(25,614,186)

$

(44,916,878)

$

15,318,583

60,235,461

$

Fund balance appropriated

25,614,186

$

44,916,878

$

Fund balance, beginning of year

249,826,914

Restatement, LEO separation allowance

3,077,172

Fund balance, restated

252,904,086

Fund balance, end of year

268,222,669

$

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

9