Comprehensive Annual Financial Report - Fiscal Year ended 6/30/2017

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Fiscal Year Ended June 30, 2017 Nonmajor Total Governmental Governmental General Fund Funds Funds REVENUES Ad valorem taxes 243,502,797 $ - $ 243,502,797 $ Intergovernmental 48,151,165 56,564,528 104,715,693 Project revenue (non-grant) - 3,650,000 3,650,000 Non-governmental - 45,946 45,946 Assessments - 1,426,972 1,426,972 Local sales tax 92,879,308 - 92,879,308 Licenses 15,087,438 - 15,087,438 Gain (loss) on investments 2,958,739 850,771 3,809,510 Inspections fees 12,250,214 - 12,250,214 Highway maintenance refunds 1,148,378 - 1,148,378 Facility fees - 8,234,592 8,234,592 Other fees and charges 16,868,779 - 16,868,779 Rents 356,822 406,437 763,259 Program income 19,713 858,201 877,914 Other revenues 2,347,720 219,717 2,567,437 Total revenues 435,571,073 72,257,164 507,828,237 EXPENDITURES Current: General government 41,662,220 4,162,657 45,824,877 Community development services 23,846,134 6,574,726 30,420,860 Public infrastructure 36,395,288 78,152,558 114,547,846 Public safety 157,712,797 11,568,583 169,281,380 Leisure services 49,973,422 17,693,540 67,666,962 Economic development programs 1,827,556 1,503,874 3,331,430 Debt service: Principal 40,092,074 - 40,092,074 Interest 21,201,132 - 21,201,132 Other debt service expenditures 920,711 - 920,711 Total expenditures 373,631,334 119,655,938 493,287,272 Excess (deficiency) of revenues over (under) expenditures 61,939,739 (47,398,774) 14,540,965 OTHER FINANCING SOURCES (USES) Transfers in 12,895,086 39,423,504 52,318,590 Transfers out (68,540,029) (35,451,687) (103,991,716) Bonds issuance - 68,000,000 68,000,000 Premium on bonds issued - 5,774,999 5,774,999 Refunding note issuance - - - Refunding bonds issuance - - - Payment to refunded bond escrow agent - - - Proceeds from sale of property - 4,195,619 4,195,619 Total other financing sources (uses) (55,644,943) 81,942,435 26,297,492 Net change in fund balances 6,294,796 34,543,661 40,838,457 Fund balances, beginning of year 268,222,669 291,086,137 559,308,806 Fund balances, end of year 274,517,465 $ 325,629,798 $ 600,147,263 $ The notes to the financial statements are an integral part of this statement. City of Raleigh _____________________________________________________________ Financial Section ____________________________________________________________ __________________________________________________________ 6 __________________________________________________________

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