Page 142 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Capital Projects Fund

Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual
From Inception and for the Fiscal Year Ended June 30, 2018 Exhibit 23

Total Project
Current Year Prior Years to Date Authorizations
Revenues
Intergovernmental - federal $ - $ 622,863 $ 622,863 $ 813,263
Intergovernmental - state 2,753,420 19,500,075 22,253,495 45,281,112
Intergovernmental - local - 2,000 2,000 -
Investment income 270,618 7,643 278,261 7,650
Capital lease charges 597,013 - 597,013 474,390
Other 2,841,388 9,934,799 12,776,187 15,288,480
Total revenues 6,462,439 30,067,380 36,529,819 61,864,895
Expenditures
General government 5,774,675 18,328,856 24,103,531 26,077,237
Public protection 2,419,956 19,432,917 21,852,873 33,366,774
Transportation 14,782,524 47,610,934 62,393,458 132,206,460
Culture and recreation 11,006,492 44,580,852 55,587,344 67,149,910
Community and economic development 3,021,026 21,562,866 24,583,892 51,801,400
Debt service
Principal retirement 9,620,000 - 9,620,000 9,620,000
Interest and fiscal charges 1,423,687 - 1,423,687 703,460

Total expenditures 48,048,360 151,516,425 199,564,785 320,925,241
Excess of expenditures over revenues (41,585,921) (121,449,045) (163,034,966) (259,060,346)
Other Financing Sources (Uses)
Premium on general obligation bonds 6,810,320 6,175,753 12,986,073 11,305,000
Issuance of limited obligation bonds - 53,323,889 53,323,889 53,323,889
Issuance of general obligation bonds 63,805,000 67,057,371 130,862,371 157,717,371
Issuance of installment financing contract - 13,675 13,675 13,675
Issuance of refunding limited obligation bonds 2,250,000 - 2,250,000 -
Payment to refunded LOBS escrow agent (2,235,000) - (2,235,000) -
Capital leases 31,510,479 1,294,289 32,804,768 18,910,999
Transfers in 349,342 24,550,809 24,900,151 25,292,383
Transfers out (338,529) (8,967,388) (9,305,917) (8,178,840)

Total other financing sources, net 102,151,612 143,448,398 245,600,010 258,384,477

Excess of revenues and other financing
sources over expenditures and other uses 60,565,691 21,999,353 82,565,044 $ (675,869)

Fund balance - beginning 30,327,347
Budgeted on an annual basis - 8,327,994 8,327,994
Fund balance - ending $ 90,893,038 $ 30,327,347 $ 90,893,038

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