Page 144 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Enterprise Funds

Solid Waste Disposal Fund - Schedule of Revenues, Expenditures,
and Transfers – Budget (Non-GAAP Basis) and Actual
For the Fiscal Year Ended June 30, 2018 Exhibit 25

Variance
Positive
Budget Actual (Negative)
Operating Revenues
Charges for services $ 10,226,210 $ 11,450,547 $ 1,224,337
Other 6,380 21,842 15,462
Total operating revenues 10,232,590 11,472,389 1,239,799
Operating Expenditures
Personal services 2,342,860 2,161,657 181,203
Maintenance and operations 7,263,355 5,434,338 1,829,017
Total operating expenditures 9,606,215 7,595,995 2,010,220
Operating income 626,375 3,876,394 3,250,019
Nonoperating Revenues (Expenditures)
Intergovernmental revenue 899,490 988,762 89,272
Investment income - 1,569,572 1,569,572
Proceeds from sale of assets - 19,063 19,063
Interest and fiscal charges (415,930) (294,061) 121,869
Principal retirement (2,669,250) (2,567,261) 101,989
Total nonoperating expenditures, net (2,185,690) (283,925) 1,901,765
Income (loss) before transfers (1,559,315) 3,592,469 5,151,784
Transfers In
Water and sewer utility fund 362,250 362,213 (37)
Stormwater management fund 181,110 181,106 (4)
Total transfers in 543,360 543,319 (41)
Change in net position - modified accrual basis $ (1,015,955) $ 4,135,788 $ 5,151,743
Reconciliation of Modified Accrual Basis to Full Accrual Basis
Change in Net Position - Modified Accrual Basis $ 4,135,788
Depreciation (4,313,764)
Amortization of financing costs 98,759
Principal retirement 2,567,261
Book value of disposed assets 527,127
(Increase) decrease in net OPEB liability 87,110
(Increase) decrease in deferred inflows of resources - OPEB (66,116)
Change in Net Position - Full Accrual Basis $ 3,036,165

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