GUIDE TO USING THE FY 2008 OPERATING BUDGET
The objective of the budget document is to
describe the Town of
·
Introduction (pages 1 - 74)
The most
notable information in this section is the Manager’s Budget Message, which
discusses the major revenue and expenditure issues for Fiscal Year 2008. Other helpful information in this section
includes the mission statement, goals and initiatives, Town-wide organization
chart, adopted budget ordinance, fee schedule, pay ranges and authorized
position listing, and a description of the budget process.
· Financial Summaries (pages 75 - 90)
This section provides summary financial information on all funds that are included in the budget document. Further details may be found in other sections of the document or in the Capital Improvements Budget and Plan. Information on the Town’s financial condition, assessed value, tax rates, approved water and sewer rates, and debt service is also included.
·
Key Facts / Statistics (pages 91 - 96)
This
segment of the budget describes the history of the Town and presents facts and
statistics about
·
General Fund (pages 97 - 220)
The General Fund is the Town’s major operating fund. Graphs and charts provide historical
summaries of revenues and expenditures.
Detailed discussions of budgeted revenue sources are also included
here. The General Fund Summary provides
five fiscal years of revenue and expenditure data – actuals for FY 2004-2006,
estimates for FY 2007, and the adopted budget for FY 2008. In addition to revenue and expenditure data, this
report shows the estimated ending fund balance for the General Fund.
The General Fund section of the budget also contains a
narrative for each General Fund department.
The narratives present each department’s mission statement, program
descriptions, activity history, FY 2007 accomplishments, key performance
objectives, workload indicators and performance measures, and explanations of
significant budget and service level changes for FY 2008.
·
Utility Fund
(pages 221 - 252)
The Utility Fund section is formatted in the same manner as
the General Fund section but provides information related specifically to the
Utility Fund. The Utility Fund accounts
for Town of
·
Other Funds
(pages 253 - 272)
This portion of the budget contains information related to
Town activities that are either partially or fully funded by transfers from the
General, Utility, and Fleet Management funds.
The Transit Fund, Police Separation Fund, Self-Insurance Funds
(Workers’ Compensation & Small Claims), Health and Dental Internal Service
Fund, 911 Fund, Koka Booth Amphitheatre Fund, Community Development, Economic
Development and Fleet Management Fund
are all addressed in the Other Funds section.
This section contains
information about the Capital Improvements Budget and Ten-Year Capital
Improvements Plan. Included is an
overview of each funded project, a utility capital and general capital reserve
summary, utility capital and general capital funding sources and expenditure
graphs, lists of current projects and projects scheduled for closure as of
·
Appendix (pages 319 - 344)
The Appendix includes information on the North Carolina Local Government Budget and Fiscal Control Act, the Town’s budgeting and financial policies, a description of the Town’s fund structure and basis of budgeting, and definitions of individual expenditure accounts. This section also includes historical staffing levels, an explanation of acronyms used in this document, and a glossary of terms.