Page 206 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Changes in Fund Balances, Governmental Funds

Last Ten Fiscal Years
(accrual basis of accounting)

Fiscal Year
2018 2017 2016 2015 2014
Other Financing Sources (Uses)
Issuances of special obligation bonds $ - $ - $ - $ - $ -
Premium on special obligation bonds - - - - -
Proceeds of refunding bonds - - - 6,018,464 -
Issuance on refunding LOBS - - - - -
Payment to refunded LOBS escrow agent - - - (6,259,644) -
Premium on general obligation bonds 6,810,320 - 7,261,851 - 286,024
Issuance of general obligation bonds 63,805,000 - 58,475,000 - 3,945,000
Issuance of refunding general obligation bonds - - 12,655,000 - -
Payment to refunded bond escrow agent - - (14,258,284) - -
Capital leases 31,510,479 22,541,776 15,403,662 18,937,813 8,902,633
Refunding IFC proceeds - - - - -
Payment to refunded IFC escrow agent - - - - -
Issuance of certificates of participation - - - - -
Premium on installment financing contract - - - - -
Premium on limited obligation bonds - - - 5,613,000 114,829
Issuance of limited obligation bonds 2,015,000 - - 45,170,000 14,000,000
Issuance of refunding limited obligation bonds 13,045,000 - - - -
Payment to refunded limited obligation bond escrow agent (12,960,000) - - - -
Transfers in 13,268,469 16,515,229 17,884,444 19,922,361 34,108,691
Transfers out (14,847,283) (16,200,549) (18,484,455) (20,255,654) (36,135,741)
Total other financing sources (uses), net 102,646,985 22,856,456 78,937,218 69,146,340 25,221,436
Net change in fund balances $ 62,678,747 $ (74,411,267) $ 38,520,175 $ 28,637,790 $ 16,040,284

Debt service as a percentage of noncapital expenditures 15.7% 17.1% 16.1% 11.2% 17.1%

Note:
(1) The City began reporting capital lease charges in the expenditure service areas in fiscal year 2016.
Capital lease charges are payments made to the City's Equipment Leasing program recorded in the
Capital Projects fund. Debt service payments are recorded in the Capital Projects fund.

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