City of Raleigh
Assigned Fund Balance
– This classification includes a portion of fund balance that the City of Raleigh intends
to use for specific purposes. The City of Raleigh City Council has designated the City Manager as the delegated
Official that can “assign” portions of fund balance per the City of Raleigh’s fund balance goal policy.
Subsequent year’s appropriation
– portion of fund balance that is appropriated in the next year’s budget that is
not already classified in restricted or committed. The governing body approves the appropriation; all budget
amendments regardless of amount must be submitted to the City council for approval.
Assigned for community development
– portion of fund balance the City intends to use for community
development across the City.
Assigned for City projects
– portion of fund balance that the City intends to use for specific projects.
Assigned for disaster recovery
– portion of fund balance that the City intends to use for disaster recovery efforts.
Assigned for debt service
– portion of fund balance that the City intends to use for future debt service payments.
Assigned for parks and recreation
– portion of fund balance that the City intends to use for specific parks and
Unassigned Fund Balance
– This classification includes the portion of fund balance that has not been restricted,
committed, or assigned to specific purposes or other funds.
When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available,
the City considers restricted funds to have been spent first. When an expenditure is incurred for which committed,
assigned, or unassigned fund balances are available, the City considers amounts to have been spent first out of
committed funds, then assigned funds, and finally unassigned funds, as needed, unless the City Council has
provided otherwise in its commitment or assignment actions.
The City of Raleigh has also adopted a minimum fund balance policy for the general fund which instructs
management to conduct business of the City in such a manner that available fund balance is at least equal to or
greater that 14% of next years budgeted expenditures. Any portion of the general fund balance in excess of 14% of
budgeted expenditures may be appropriated for one‐time expenditures and may not be used for any purpose that
would obligate the City in a future budget.
For purposes of measuring the net pension asset, deferred outflows of resources and deferred inflows of resources
related to pensions, and pension expense, information about the fiduciary net position of the Local Governmental
Employees’ Retirement System (LGERS) and additions to/deductions from LGERS’ fiduciary net position have
been determined on the same basis as they are reported by LGERS. For this purpose, plan member contributions
are recognized in the period in which the contributions are due. The City of Raleigh’s employer contributions are
recognized when due and the City of Raleigh has a legal requirement to provide the contributions. Benefits and
refunds are recognized when due and payable in accordance with the terms of LGERS. Investments are reported
at fair value.
11. Interest rate swap
The City enters into interest rate swap agreements to modify interest rates on outstanding debt. The interest rate
swaps are reported in the net position statements for government‐wide and proprietary funds at fair market value.