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City of Raleigh

Financial Section

Depreciation expense was charged to functions/programs of the business‐type activities as follows: 

Water/Sewer

34,822

$     

Convention center

8,216

Parking

3,624

Mass Transit

3,724

Stormwater

2,119

Solid Waste Services

760

Capital assets held by certain internal service funds are charged to the

   various business‐type activities based on the usage of the assets

5,406

Total depreciation expense ‐ business‐type activities

58,671

$     

Annexations:  The amount reported as additions for water and sewer systems includes $1,278,008 added from 

annexations during fiscal year 2015‐16.   

Commitments ‐ construction projects.

At June 30, 2016, the City has $221,422,469 in project obligations for 

business‐type activities for construction projects in progress as follows:  $173,757,820 for water and sewer projects, 

$13,267,328 for transit projects, $8,072,064 for stormwater projects, $12,867,689 for convention center projects and 

$13,457,568 for parking garage projects.  These obligations are fully budgeted and are being financed primarily by 

state loans, general obligation bond proceeds, revenue bond proceeds, federal grants, storm water fees and 

certificates of participation. 

In addition, the City has $183,395,263 in general government project obligations at June 30, 2016.  These obligations 

relate to construction in progress projects for street construction, redevelopment projects and community center and 

park construction, and other major public facilities.  These projects are fully budgeted and the funding for these 

governmental projects is indicated through designations of fund balance at June 30, 2016. 

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