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ORAN III III ,II , AND ' IIE' II 1 II I:; � � 1111 "]RA 11II "Y III SERVICES 200 SDuth Cameron Street Clarence G. Grier, CPA, CITP, OGMA Phone (919) 245 -2553 Post Office Box 8181 Assistant County Manager - CFO Fax (919) 644 -3324 Hillsborough, North Carolina 27278 Summary Information for M aior Funds as of March 31.2014 The Major Fund of the County accounted for approximately 86 percent of the total annual revenues of the County. An overview of financial statusfor each of the major fundsisincluded in the financial statement and asfollows: General Fund • Total revenues for the General Fund are $169 million for an increase of $6.0 million or 4 %over the same period in fiscal year 2012 -13. This revenue increase is mainly due to the timing of billing Ad Valorem Taxes. Total revenues collected are 86 %of the amended budget for the current fiscal year. • Total expenditures for the General Fund are $141.9 million for an increase of $4.0 million or 3% over the same period in the previousyear. Total expenditures are 72 %of the budget for the fiscal year. • Pevenuesand net transfersare more than expenditures by $27.4 million representing a net decrease of $1.9 million or 8 %over the same period in the previousfiscal year. Capital Funds • The County Capital Funds revenues and other financing sources total $14.4 million compared to expenditures of approximately $6.6 million. The main revenue and financing source are the funds received for the installment financing proceeds received in July 2013 and January 2014 of this fiscal year. The majority of the current fiscal year expenditures related to construction cost incurred for the Buckhorn Mebane Economic Development District and communication system improvements for Emergency Services as part of the strategic plan. • The School Capital Funds revenues and other financing sourcestotal $9.4 million compared to expenditures total $6.3 million. The majority of the current fiscal year expenditures related to construction cost incurred for Northside Elementary (CHCCS) and technology for both school districts. Solid Waste Fund • Total revenues and transfers for the Solid Waste Fund decreased $2.3 million over the same period in the previous fiscal year to $7.0 million. Pevenues and other financing sources and uses lower due to the closure of the landfill asof June 30, 2013. Total revenues collected are 48 %of the amended budget for the fiscal year. • Total expenses for the Solid Waste Fund decreased 12% over the same period in the previous fiscal year to $6.1 million. Total expenditures are 42 %of the budget for the fiscal year. • Pevenues and transfers are greater than expenses by $851,528 compared to greater than expenses by $1.5 million over the same period in the previousfiscal year due to the closure of the Landfill. Sportsplex Fund Total revenues for the S'portsplex Fund are approximately the same for the period in the previous year. Total revenues are 64 %of the amended budget for the fiscal year. Total expenditures for the S'portsplex Fund increased 7 %over the same period in the previousfiscal year to $1.4 million. Total expenses are 32 %of the budget for the fiscal year. Pevenues and net transfers are lessthan expenses by $156,253, which is nominally the same asthe previousfiscal year.