Edited Excerpts from Rashad Young's "Community Conversations" Budget Presentation

FY 10-11 Expenditures.......................................$254.9M

FY 11-12 Planning Budget Revenues................$250.0M

...............................................................................= $4.9M Reduction in expected revenues

(General Fund Only: Water and Sewer, 41% Greensboro's budget, not included:
ie... Lake Jordan)

If Greensboro expects to spend $423,791,632 in 2010/11,
why would Rashad Young tell a budget meeting $250 million?

FY 11-12 Planning Budget Expenditures......................$259.0M

FY 11-12 Planning Budget Revenues..............................$250.0M

...........................................................................................= $9 million revenue shortfall

(General Fund Only: Water and Sewer, 41% Greensboro's budget, not included:
ie... Lake Jordan)

Did Nancy, Jim, Robbie, Dianne and Zack
know the Jordan Lake Rules could cost the city $270 million,
when they voted for a $19 million swimming pool?

–Other Revenue Growth of -4.5%
($1.74 million reduction from one time transfers in FY 10-11)

What one time transfers?

–$3.5M use of Fund Balance (one-time contribution)

One-time contribution to what?

•Increase in energy and fuel costs

•Increase in mandated state contribution to retirement system

•Additional program costs for Keeley Park

For how long has who known about Greensboro
needing what could be $270 million for Lake Jordan Rules,
on top of another $25 million that North Carolina could take?

State Revenue at Risk

What’s at Stake for Greensboro FY 2011-12?

•Electricity Franchise Tax.....................$10.0M
•Telecommunications Tax.....................$4.7M
•Refund of Sales Taxes.........................$2.8M
•Video Programming Distr.....................$2.8M
•Natural Gas Excise Tax........................$2.0M
•Transitional Hold Harmless...................$1.3M
•Beer and Wine Excise Tax....................$1.2M
•Solid Waste Disposal Tax.....................$0.2M

Total State Tax Revenue risk for GSO....$25.3M

Did Nancy, Jim, Robbie, Dianne and Zack
know North Carolina State could cost the city about $25 million,
when they voted for a $19 million swimming pool?

Council Direction to Staff

7% cut to the General Fund budget, or $18M
(General Fund Only: Water and Sewer, 41% Greensboro's budget, not included:
ie... Lake Jordan rules etc...)

$18 million from $259 million or $250 million?

Capital Funding

$35M in Bonds proposed to be issued in Spring 2012

•2006 Bond Projects = $11.55M
–$3.285M Old Randleman Road Fire Station
–$750,000 Land Acquisition for Reedy Fork Fire Station
–$2.105M Hilltop Road Recreation Center
–$2.0M Economic Development Bonds
–$3.5M Lake Jeanette Library

How much does the Water and Sewer department intend to borrow?

•2008 Bond Projects = $15.19M
–$8.25M Street Improvements

How much does the Water and Sewer department intend to borrow?

•Merritt Drive, High Point Road Streetscape, HorsepenCreek Road, Alamance Church Road,
Sidewalks, Cone/NealtownRoad Extension, and Maintenance
–$100,000 Neighborhood Park Renovations
–$500,000 Gateway Gardens Phase II
–$6.0M Aquatics Center
–$335K Housing Loans for Energy Efficiency / Affordable Housing

How much does the Water and Sewer department intend to borrow?

•2009 Bond Project = $8.26M
–$8.26M Natural Science Center

Source: Community Conversations
City of Greensboro FY2011/2012 Budget
(General Fund Only: Water and Sewer, 41% Greensboro's budget, not included: ie... Lake Jordan)