23-070 ORDINANCE ESTABLISHING THE 2023-24 ANNUAL BUDGET OF THE CITY OF GREENSBORO
Be it ordained by the City Council of the City of Greensboro that for the purpose of financing expenditures of the City of Greensboro, North Carolina, there is hereby appropriated, from taxes and other revenue collectible, the following funds for operation of City government and its activities for the Fiscal Year 2023-24 beginning July 1, 2023 and ending June 30, 2024.
Section 1. It is estimated that the following expenditures are necessary for current operation expenditures and debt service payments for the City of Greensboro for the Fiscal Year 2023-24, beginning July 1, 2023 and ending June 30, 2024.
General Fund
Current Operating Expense 403,879,804
State Highway Allocation Fund (Powell Bill)
Current Operating Expense 8,439,000
Cemeteries Operating Fund
Current Operating Expense 1,090,128
Hotel/Motel Occupancy Tax Fund
Current Operating Expense 6,034,405
Special Tax Districts Fund
Current Operating Expense 1,456,125
Nussbaum Housing Partnership Revolving Fund
Current Operating Expense 3,852,467
Emergency Telephone System Fund
Current Operating Expense 1,832,416
Debt Service Fund
Current Operating Expense 46,924,908
Water Resources Enterprise Fund
Current Operating Expense 166,187,229
Stormwater Management Fund
Current Operating Expense 12,493,168
War Memorial Coliseum Complex Fund
Current Operating Expense 37,528,889
Performing Arts Fund
Current Operating Expense 35,313,389
Parking Fund
Current Operating Expense 7,508,273
Solid Waste Management System Fund
Current Operating Expense 19,040,259
Greensboro Transit Agency Fund
Current Operating Expense 31,536,452
Equipment Services Fund
Current Operating Expense 24,440,686
Technical Services Fund
Current Operating Expense 6,829,522
Network Services Fund
Current Operating Expense 19,699,165
Graphic Services Fund
Current Operating Expense 982,689
Employee Insurance Fund
Current Operating Expense 60,997,128
General Insurance Fund
Current Operating Expense 4,729,192
Capital Leasing Fund
Current Operating Expense 3,224,038
Guilford Metro Communications Fund
Current Operating Expense 15,240,663
Total 919,259,995
Less Total Transfers and Internal Charges -167,918,671
Net Total 751,341,324
Section 2. It is estimated that the following revenues will be available during the Fiscal Year 2023-24 beginning July 1, 2023 and ending June 30, 2024 to meet the foregoing appropriations:
General Fund
Current Operating Revenue 397,345,306
Appropriated Fund Balance 6,534,498 403,879,804
State Highway Allocation Fund (Powell Bill)
Current Operating Revenue 8,398,000
Appropriated Fund Balance 41,000 8,439,000
Cemeteries Operating Fund
Current Operating Revenue 1,090,128 1,090,128
Hotel/Motel Occupancy Tax Fund
Current Operating Revenue 6,034,405 6,034,405
Special Tax Districts Fund
Current Operating Revenue 1,360,725
Appropriated Fund Balance 95,400 1,456,125
Nussbaum Housing Partnership Revolving Fund
Current Operating Revenue 3,852,467 3,852,467
Emergency Telephone System Fund
Current Operating Revenue 1,832,416 1,832,416
Debt Service Fund
Current Operating Revenue 46,924,908 46,924,908
Water Resources Enterprise Fund
Current Operating Revenue 151,172,595
Appropriated Fund Balance 15,014,634 166,187,229
Stormwater Management Fund
Current Operating Revenue 10,576,132
Appropriated Fund Balance 1,917,836 12,493,168
War Memorial Coliseum Complex Fund
Current Operating Revenue 37,528,889 37,528,889
Performing Arts Fund
Current Operating Revenue 35,313,389 35,313,389
Parking Fund
Current Operating Revenue 7,508,273 7,508,273
Solid Waste Management System Fund
Current Operating Revenue 17,600,537
Appropriated Fund Balance 1,439,722 19,040,259
Greensboro Transit Agency Fund
Current Operating Revenue 25,849,693
Appropriated Fund Balance 5,686,759 31,536,452
Equipment Services Fund
Current Operating Revenue 22,392,500
Appropriated Fund Balance 2,048,186 24,440,686
Technical Services Fund
Current Operating Revenue 6,490,371
Appropriated Fund Balance 339,151 6,829,522
Network Services Fund
Current Operating Revenue 17,381,841
Appropriated Fund Balance 2,317,324 19,699,165
Graphic Services Fund
Current Operating Revenue 982,689 982,689
Employee Insurance Fund
Current Operating Revenue 54,610,618
Appropriated Fund Balance 6,386,510 60,997,128
General Insurance Fund
Current Operating Revenue 3,987,342
Appropriated Fund Balance 741,850 4,729,192
Capital Leasing Fund
Current Operating Revenue 3,224,038 3,224,038
Guilford Metro Communications Fund
Current Operating Revenue 14,440,663
Appropriated Fund Balance 800,000 15,240,663
Total 919,259,995
Less Total Transfers and Internal Charges -167,918,671
Net Total 751,341,324
Section 3. There is hereby levied the following rates of tax on each one hundred dollars ($100.00) valuation of taxable real property and taxable tangible personal property, as listed for taxes as of January 1, 2023 for the purpose of raising the revenue from Current Year’s Property tax, as set forth in the foregoing estimates of revenue, and in order to finance the foregoing appropriations:
For the payment of general operating expenses and capital expenditures of the City including .6275 the payment of principal and interest of the bonded indebtedness of the City of Greensboro
- For the payment of general operating expenses and capital expenditures associated with .0350 the Greensboro Transit Agency Fund
- For the payment of general operating expenses and capital expenditures associated with .0100 the Housing Partnership Fund
TOTAL .6725
Such rates of tax are based on an estimated total appraised valuation of property for purposes of taxation of $38,009,800,000 and an estimated rate collection of ninety-nine percent (99%).
Section 4. There is hereby levied the following rates of tax on each one hundred dollars ($100.00) valuation of taxable real property and taxable tangible personal property in the following special tax districts, as listed for taxes as of January 1, 2023, for the purposes as set forth in the Special Tax Districts as authorized by City Council:
- College Hill Historic District for improvements as stated in the Special Historic District .01 Plan
- Dunleath Historic District for improvements as stated in the Special Historic District .05 Plan
- Business Improvement District for improvements as stated in the Downtown .09
Greensboro Business Improvement District Business Plan
Such rates of tax are based on an estimated total appraised valuation in each Special Tax District and an estimated rate of collection of ninety-nine percent (99%). Such rates of tax consider the current and long-range needs, plans and goals of the districts and are set so that there is no accumulation of excess funds.
Section 5. Appropriations hereinabove authorized and made for water and sewer operating fund, water and sewer current operating expense and debt service, are made from revenue collectible for the operation of the combined water and sewer systems and miscellaneous revenue.
Section 6. Appropriations hereinabove authorized and made shall have the amounts of the outstanding purchase orders and unearned portion of contracts at June 30, 2023 (rounded to the nearest dollar) added to each appropriation as it applies, in order to properly account for the payment against the fiscal year in which it is paid.
Section 7. Copies of this ordinance shall be furnished to the Budget and Evaluation Director, Finance Director and the City Clerk within five days after adoption to be kept on file by them for their direction in the disbursement of City Funds.
Section 8. This ordinance shall be effective from and after the date of July 1, 2023.
(Signed) Goldie Wells