Agenda - 02-03-2015-13 (8) - Laserfiche WebLink

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F INANCE AND ADMINISTRATIVE SERVICES 200 South Cameron Street Clarence G. Grier, CPA, CITP, CGMA Phone (919) 245-2553 Post Office Box 8181 Assistant County Manager CFO Fax (919) 644-3324 Hillsborough, North Carolina 27278 Summary Information for Major Funds for the Six months Ended as of December 31, 2014 The Major Funds of the County accounted for approximately 86 percent of the total annual revenues of the County. An overview of financial status for each of the major funds is included in the financial statement and as follows: General Fund Total revenues (revenues and transfers) for the General Fund are $132.6 million for an increase of $5.5 million or 4% over the same period in fiscal year 2013-14. This revenue increase is mainly due to the timing, billing and collection of Ad Valorem Taxes and Intergovernmental Revenues. Total revenues collected are 69% of the amended budget for the current fiscal year. Total expenditures (expenditures and transfers) for the General Fund are $89.3 million for an increase of $3.2 million or 3% over the same period in the previous year. General Fund Expenditures increased due to increased expenditures for Human Services and Education. Total expenditures are 45% of the budget for the fiscal year. Revenues and net transfers are more than expenditures by $43.8 million representing an increase of 7% over the same period in the previous fiscal year. Capital Funds The County Capital Funds revenues and other financing sources total $1.2 million compared to expenditures of approximately $4.8 million for the six months ended December 31, 2014. The majority of the current fiscal year expenditures related to construction cost incurred for the Whitted Building Meeting Room, Information Technology, the McGowan Creek Outfall, Economic Development Infrastructure projects, and communication system improvements for Emergency Services as part of the strategic plan. The School Capital Funds revenues and other financing sources total approximately $255,000 compared to expenditures of $4.6 million. The majority of the current fiscal year expenditures related to cost incurred for capital projects for the Chapel Hill Carrboro City School District for the six months ended. A majority of revenues for the School Capital Projects Fund will be received in the third quarter of this fiscal year. Solid Waste Fund Revenues and transfers for the Solid Waste Fund totaled $5.2 million for the six months ended December 31, 2014. Revenues and other financing sources and uses are lower due to the closure of the landfill as of June 31, 2013. Total revenues collected are 40% of the amended budget for the fiscal year. Expenses for the Solid Waste Fund totaled $5.3 million for the six months ended December 31, 2014. Total expenses are 38% of the budget for the fiscal year. Revenues and transfers are nominally less than expenses for the six months ended December 31, 2014. Sportsplex Fund Revenues for the Sportsplex Fund totaled $1.6 million for the six months ended December 31, 2014. Total revenues are 31% of the amended budget for the fiscal year. Expenses for the Sportsplex Fund totaled $1.9 million for the six months ended December 31, 2014. Total expenses are 41% of the budget for the fiscal year. Revenues and net transfers are less than expenses by approximately $300,000, which is nominally the same as the previous fiscal year. 1