Page 98 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

Assets have been pledged as collateral for the following contracts payable:

Certi cates of Participation executed and delivered
by North Carolina Municipal Leasing Corporation
Series 2004C Convention Center Facility, Bryce A. Stuart Building
Series 2006B Convention Center Facility, Bryce A. Stuart Building
Installment Financing Contract 2011 Alexander Beaty Public Safety Training and Support Center,
Firearms Training Facility
Limited Obligation Bonds executed and delivered
by North Carolina Municipal Leasing Corporation
Series 2010A City Hall, Public Safety Center, Lowery street, BB&T Ballpark
Series 2013A & B City Hall, Public Safety Center, Lowery street, BB&T Ballpark
Series 2014A City Hall, Public Safety Center, Lowery street, BB&T Ballpark
Series 2014B & C Convention Center Facility, Bryce A. Stuart Building
Series 2018 City Hall, Public Safety Center, Lowery street, BB&T Ballpark

H. Net Investment in Capital Assets

Net investment in capital assets at June 30, 2018

Governmental Business-type
Activities Activities
Capital assets $ 477,186,466 $1,045,785,180
less: long-term debt (339,714,794) (543,279,538)
less: short-term debt (28,908,743) (34,780,817)
less: derivative instrument - (21,676,041)
add: unexpended debt proceeds 54,794,529 35,195,218
add: charge on refunding, net 2,895,204 25,974,167
Net investment in capital assets $ 166,252,662 $ 507,218,169

I. Fund Balance

The following schedule provides management and citizens with information on the portion of general fund balance that
is available for appropriation at June 30, 2018.

Total fund balance – general fund $ 50,181,105
Less:
Loans 930,361
Inventories 332,511
Prepaids 51,764
Stabilization by state statute 22,168,518
Subsequent year’s budget 2,000,000
Unassigned fund balance 24,697,951

The City of Winston-Salem has adopted a nancial policy to maintain a minimum unassigned fund balance of 14% of
estimated expenditures in the general fund. At year-end, unassigned fund balance was 12% of 2019 estimated expenditures.
Due from other funds was $3.7 million because of reimbursements outstanding. These amounts are reserved in stabilization
of state statute in general fund.

92 2018 AN NUAL R E P O R T