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Fund Balance Calculation of excess of 15% Policy
<br />As of 9-22-17 updated 11-15-17
<br />Fund Balance 6/30/16
<br />$ 80,288,983
<br />Revenues over (under) Expenditures FY 17
<br />3,910,627
<br />Legally budgeted sinking fund principal payment
<br />1,330,000
<br />Ending Fund Balance 6/30/17
<br />85,529,610
<br />Nonspendable
<br />Inventories
<br />$ 163,863
<br />Prepaid Items
<br />219,482
<br />Restricted
<br />Reserve by State Statute ( Primarily Accounts Receivable
<br />& PO/Contract carry forward)
<br />16,066,122
<br />Debt Payments
<br />3,571,082
<br />Committed
<br />Unpaid Tax Incentives
<br />$ 2,532,100
<br />Pension Trust
<br />1,576,476
<br />Total unavailable for appropriation
<br />$ 24,129,125
<br />net
<br />$ 61,400,485
<br />Less
<br />Assigned
<br />$ 11,772,926
<br />FY 18 Budget 9-22-17
<br />"Reserved" by 15% Fund Balance Policy
<br />$ 38,049,022
<br />253,660,145
<br />Balance to transfer to Capital Reserve Fund per policy
<br />$ 11,578,537
<br />Reap:
<br />FY 17 Revenues over Expenditures
<br />$ 3,910,627
<br />Legally budgeted sinking fund principal payment
<br />1,330,000
<br />Change in Nonspendable/Restricted/Committed since FY16
<br />increase
<br />(1,854,498)
<br />Released Assignments since 6-30-16
<br />increase
<br />(4,476,965)
<br />Change in 15% set aside
<br />increase in reserve
<br />(2,637,021)
<br />Excess transfer from FY 16, budgeted but not used
<br />increase
<br />15,306,394
<br />$ 11,578,537
<br />New Fund Balance Assignment for TPA Incentive Grant
<br />348,933
<br />Excess for future projects
<br />$ 11,229,604
<br />Carolina Thread Trail Project
<br />50,000
<br />New CCS Elementary School Utility extension costs
<br />200,000
<br />New CCS Elementary Sch Inc Architect & Engineering Fees
<br />566,000
<br />SMG Incentives
<br />65,826
<br />Excess forfuture projects
<br />$ 10,347,778
<br />Attachment number l\n
<br />5:\Finance\COmmon\4GENDA ITEMS\2017-18\6. December 2017\CAFR Presentation\Fund Balance Assignments 2017 updated
<br />G-1 Page 293
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