Page 145 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Enterprise Funds

Transit Authority Fund- Schedule of Revenues, Expenditures,
and Transfers – Budget (Non-GAAP Basis) and Actual
For the Fiscal Year Ended June 30, 2018 Exhibit 26

Variance
Positive
Budget Actual (Negative)
Operating Revenues
Charges for services $ 1,943,000 $ 1,760,419 $ (182,581)
Other 412,340 308,289 (104,051)
Total operating revenues 2,355,340 2,068,708 (286,632)
Operating Expenditures
Personal services 11,843,590 12,241,222 (397,632)
Maintenance and operations 6,385,748 4,322,142 2,063,606
Total operating expenditures 18,229,338 16,563,364 1,665,974
Operating loss (15,873,998) (14,494,656) 1,379,342
Nonoperating Revenues (Expenditures)
Intergovernmental revenue
FTA operating grant 1,021,040 1,086,084 65,044
FTA preventative maintenance grant 2,601,000 2,300,000 (301,000)
Piedmont Triad COG 298,220 261,629 (36,591)
Forsyth County 293,160 283,024 (10,136)
State of North Carolina 1,417,870 1,425,037 7,167
Total intergovernmental revenues 5,631,290 5,355,774 (275,516)
Property taxes 10,188,510 10,434,990 246,480
Investment income - 158 158
Proceeds from sale of assets - 21,310 21,310
Damage settlements 10,000 21,234 11,234
Total nonoperating revenues, net 15,829,800 15,833,466 3,666
Income (loss) before capital contributions and transfers (44,198) 1,338,810 1,383,008
Capital Contributions
Federal and state grants - 473,893 473,893
Total capital contributions - 473,893 473,893
Transfers Out
Grants fund (13,800) (13,781) 19
Total transfers out (13,800) (13,781) 19
Change in net position - modified accrual basis $ (57,998) $ 1,798,922 $ 1,856,920
Reconciliation of Modified Accrual Basis to Full Accrual Basis
Change in Net Position - Modified Accrual Basis $ 1,798,922
Depreciation (2,946,743)
Book value of disposed assets (181,455)
Change in Net Position - Full Accrual Basis $ (1,329,276)

139