City of Raleigh
Note 2. Stewardship, Compliance, and Accountability
A. Budgetary information
As required by the North Carolina Budget and Fiscal Control Act, the City adopts balanced budget ordinances for
all funds except the trust funds which are not budgeted. The budgets shown in the financial statements reflect
amounts adopted by the budget ordinances as amended and approved at the close of the day on June 30, 2014.
The City adopts annual budgets prepared on the modified accrual basis for the general fund, the enterprise
operating funds and the convention center financing fund. All other funds including all capital project funds and
the remaining grant funds adopt project budgets.
Appropriations for funds with annual budgets lapse at the end of the budget year. Capital and grant project
budget appropriations do not lapse until the completion of the project or grant. The City Council may amend the
budget throughout the year for new projects or other changes to existing appropriations as are needed.
At June 30, 2016, the effect of such amendments, less eliminating transfers, was as follows:
Special Revenue Funds
General Capital Projects Funds
Internal Service Funds
The appropriated budget is prepared by fund, function, and department. Appropriations are adopted at the Fund
level with the exception of the General fund which is adopted at the department level and the Public Utilities Fund
which is adopted at the function level. The City Manager is authorized to transfer budget amounts within a fund
up to $50,000. Transfers greater than $50,000, all transfers between funds, and all amendments increasing total
budgeted expenditures require City Council approval.
B. Deficit net position
There are no funds which report a deficit net position as of June 30, 2016.