Page 152 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Special Revenue Funds

Community Development 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 29

Total Program
Current Year Prior Years to Date Authorizations
Revenues
Intergovernmental $ 6,328,061 $ 10,365,787 $ 16,693,848 $ 24,628,223
Other 1,000,432 4,448,611 5,449,043 4,808,130
Total revenues 7,328,493 14,814,398 22,142,891 29,436,353
Expenditures
Community development 5,437,569 10,469,749 15,907,318 23,569,135
Debt service
Principal retirement 333,000 999,000 1,332,000 1,330,000
Interest and fiscal charges 31,828 180,770 212,598 224,000
Total expenditures 5,802,397 11,649,519 17,451,916 25,123,135
Excess of revenues over expenditures 1,526,096 3,164,879 4,690,975 4,313,218

Other Financing Uses
Transfers out
General fund (848,437) (3,163,359) (4,011,796) (4,313,218)
Total other financing uses (848,437) (3,163,359) (4,011,796) (4,313,218)
Excess of revenues and other financing
sources over (under) expenditures
and other uses 677,659 $ 1,520 $ 679,179 $ -

Fund balance - beginning 1,520
Fund balance - ending $ 679,179
Reconciling items for GAAP presentation

Fund balance at beginning of year (GAAP) 10,768,719
Loans issued and adjustments 651,603
Payments received on loan balances (800,923)
Change in estimate of loan portfolio allowance 460,975
Total reconciling items 11,080,374
Fund Balance at End of Year (GAAP Basis) $ 11,758,033

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