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Estimated Changes to Fund Balance
<br />Governmental Funds
<br />This table is based on unaudited end -of -year revenue and expenditure estimates. These estimates differ from the 12-
<br />month estimates reflected in other areas of the approved budget document due to the timing of data analysis.
<br />Unassigned/Undesignated fund balance in the General Fund at year -end is expected to be approximately $37.3 million
<br />or about 20.2 percent of estimated fiscal year 2012 -13 expenditures. This percentage level surpasses the 8 percent
<br />minimum guideline recommended by the State of North Carolina Local Government Commission (LGC).
<br />Unassigned/Undesignated fund balance as a percentage of the fiscal year 2013 -14 budgeted General Fund Expenditures
<br />is anticipated to be about 18.5 percent, also surpassing the LGC recommended minimum. The projected level of fund
<br />balance is appropriate to ensure that the County has adequate resources for unforeseen emergencies, revenue
<br />fluctuations and to maintain a strong financial condition in accordance with Board of County Commissioner directives.
<br />The County's overall financial position is expected to remain stable over the next several years.
<br />Special Revenue
<br />General Fund Funds
<br />Beginning Balance July 1, 2012 47,859,506 7,141,637
<br />Revenues (FY 2012 -13 Year End Estimates)
<br />Taxes
<br />$ 156,640,290 $
<br />3,734,005
<br />Licenses and Permits
<br />313,000
<br />0
<br />Intergovernmental
<br />19,122,603
<br />15,398,729
<br />Charges for Services
<br />9,800,187
<br />2,187,348
<br />Investment Earnings
<br />53,590
<br />2,371
<br />Impact Fees
<br />0
<br />1,355,089
<br />Operating Transfers In
<br />1,087,700
<br />1,110,235
<br />Miscellaneous
<br />401,668
<br />0
<br />Fair Funding
<br />Total Revenues 187,419,038
<br />23,787,777
<br />Expenditures By Function (FY 2012 -13 Year -End Estimates)
<br />Governing and Management
<br />12,275,762
<br />33,198
<br />General Services
<br />7,481,134
<br />1,280,746
<br />Human Services
<br />33,552,217
<br />4,591,552
<br />Culture and Recreation
<br />2,291,239
<br />0
<br />Community and Environment
<br />6,249,641
<br />6,204,752
<br />Public Safety
<br />18,974,529
<br />9,288,421
<br />Education
<br />Current Expense
<br />62,919,350
<br />0
<br />Fair Funding
<br />988,000
<br />0
<br />Recurring Capital
<br />3,040,000
<br />490,000
<br />School Related Debt Service
<br />14,190,237
<br />0
<br />Total Education
<br />81,137, 587
<br />490,000
<br />County Related Debt Service
<br />9,844,585
<br />0
<br />Operating and Residual Transfers Out
<br />12,604,107
<br />1,091,611
<br />Total Expenditures
<br />184,410,801
<br />22,980,280
<br />Excess of Revenues Over Expenditures
<br />3,008,237
<br />807,497
<br />Ending Balance, 6/30/2013 (Estimated) $
<br />50,867,743 $
<br />7,949,134
<br />Less:
<br />Fund Balance Restricted/Reserved
<br />(8,418,018)
<br />(7,949,134)
<br />Fund Balance Committed/Designated for Subsequent Year (2)
<br />(5,190,118)
<br />0
<br />Unassigned/Undesignated Fund Balance $
<br />37,259,607
<br />0
<br />Fund Balance as a Percent of FY 2012 -13 Expenditures
<br />20.20%
<br />0.00%
<br />Fund Balance as a Percent of FY 2012 -13 Budget
<br />20.70%
<br />0.00%
<br />(') This represents the amounts of reserve for inventories, reserve for State statute, and outstanding encumbrances that are not available
<br />for budgetary appropriation at year end.
<br />(z) Represents the amount of fund balance appropriated to the budget for the upcoming fiscal year.
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