ECONOMIC VITALITY AND DIVERSITY SUMMARY
Economic Vitality and Diversity Overview ...... 54 Business Inclusion and Advancement ...... 55 Downtown Winston-Salem Business Improvement District ...... 57 Off-Street Parking ...... 59 Public Assembly Facilities Winston-Salem Fairgrounds...... 62 The Benton ...... 65 Bowman Gray Stadium ...... 67 Downtown Ballpark...... 69 Economic Vitality and Diversity Community Grants ...... 70 Economic Vitality and Diversity Non-Departmental ...... 71 Economic Vitality and Diversity Capital Projects ...... 73
53 ECONOMIC VITALITY AND DIVERSITY
STRATEGIC FOCUS AREA MISSION
Economic vitality and diversity requires a healthy local economy that serves all segments of the population and provides the monetary resources necessary to support the community. This includes sustaining a tax base sufficient to fund community services, providing members of the community with sufficient wages, and providing capital for community development.
STRATEGIC FOCUS AREA OBJECTIVES
- Recruit and Retain Employers - Promote Downtown Revitalization - Promote Commercial Development in Economically Disadvantaged Areas - Enhance Skills of Workforce - Develop and Redevelop Commercial/Industrial Parks/Sites - Assist Small Businesses
STRATEGIC FOCUS AREA CATEGORIES
Business Inclusion and Advancement, Public Assembly Facilities (Winston-Salem Fairgrounds, Bowman Gray Stadium, Dixie Classic Fair, Downtown Ballpark, The Benton), Off-Street Parking, Community Grants, Capital Projects
STRATEGIC FOCUS AREA TOTAL BUDGET
$17,108,720
STRATEGIC FOCUS AREA PRIORITIES
Short Term Priorities 1) Continue to partner in development of the Whitaker Park business site 2) Recruit small business (<100 employees) and foster an entrepreneurial atmosphere 3) Partner with workforce development training initiatives 4) Evaluate current economic development policies regarding non-capital investments
Mid Term Priorities 5) Identify infrastructure needs to enhance economic development activity 6) Develop travel and tourism promotion strategies 7) Evaluate the use of land banking for commercial development 8) Seek out regional cooperation on economic development initiatives 9) Engage Forsyth County Commission and Winston-Salem/Forsyth County School Board in policy discussions regarding economic vitality 10) Promote internship opportunities 11) Evaluate project-based lending programs 12) Assist with downtown retail, commercial recruitment, and redevelopment projects
54 BUSINESS INCLUSION AND ADVANCEMENT
MISSION STATEMENT
The mission of the Office of Business Inclusion and Advancement is to promote economic vitality and opportunity for all citizens of Winston-Salem by attracting, creating and retaining jobs, and augmenting the tax base. Through engagement, collaboration and education, our office increases opportunities for local companies and minority- and woman-owned firms’ interests in doing business with the City.
PROGRAM DESCRIPTIONS
Business Development: Monitors and promotes business and economic development opportunities throughout the city, utilizing a series of interrelated programs to provide concentrated assistance to targeted areas and groups. Responsible for the Revitalizing Urban Commercial Areas (RUCA) Program, Small Business Loan Program, and Building Rehabilitation Programs.
Economic Self-Sufficiency/Small Business Loan Program: Provides loans to new and existing small businesses to assist in start-up or expansion. Offers small business training program to assist local entrepreneurs to successfully plan, open, and operate a business venture.
Minority and Women-Owned Business Enterprises (M/WBE): Assists minority and women-owned business enterprises in providing goods and services to the City. In addition, the program provides workshops and seminars for minority- and women-owned businesses and assistance with the resolution of problems and complaints relating to payment and/or contract violations. The M/WBE program is also responsible for the enforcement of Section 3 of the Davis-Bacon Act. Reintegration and Youth Development: Provides personal development, market-relevant job skills education, and employment opportunities for at-risk youth and adults with criminal histories.
EXPENDITURES AND REVENUES SUMMARY
EXPENDITURES BY PROGRAM Actual Budget Adopted Percent General Fund FY 16-17 FY 17-18 FY 18-19 Change Business Development $664,297 $655,040 $748,100 14.2% Minority/Women Business Enterprise Program 31,200 151,240 161,370 6.7% Reintegration and Youth Development 92,181 466,140 471,200 1.1% Subtotal $787,677 $1,272,420 $1,380,670 8.5%
Special Revenue Funds Economic Self-Sufficiency/Small Business Loans $202,998 $226,500 $178,500 -21.2% Subtotal $202,998 $226,500 $178,500 -21.2%
Total Expenditures by Program $990,674 $1,498,920 $1,559,170 4.0%
RESOURCES BY TYPE General Fund Transfer from Community Dev. Grant Fund $92,500 $138,000 $138,000 0% Transfer from Housing Finance Assistance Fund 62,930 66,210 66,210 0% Other General Fund Revenues 632,247 1,068,210 1,176,460 10.1% Subtotal $787,677 $1,272,420 $1,380,670 8.5% 55 BUSINESS INCLUSION AND ADVANCEMENT
RESOURCES BY TYPE - Continued Actual Budget Adopted Percent Special Revenue Funds FY 16-17 FY 17-18 FY 18-19 Change Community Development Block Grant (CDBG) $140,039 $88,500 $40,500 -54.2% CDBG Program Income 225,868 138,000 138,000 0% Interest Income 23,024 0 0 N/A Subtotal $388,931 $226,500 $178,500 -21.2%
Total Resources by Type $1,176,608 $1,498,920 $1,559,170 4.0%
POSITION SUMMARY
Amended Amended Adopted POSITIONS FY 16-17 FY 17-18 FY 18-19 Change Full-Time 6 10 10 0
PERFORMANCE MEASURES AND SERVICE TRENDS
Actual Estimated Projected FY 16-17 FY 17-18 FY 18-19 Effectiveness Formal construction project compliance - 85% 85% Professional and general service project compliance - 85% 85% Workload New M/WBE vendors on City database* - 50 60 Construction site visits* - 6 21 M/WBE community outreach* - 15 20 Small Business Support: Building rehabilitation loans (NRSA) 1 4 5 Small businesses assisted 331 345 355 Small business loans considered 5 5 6 Small business community outreach - 20 events 25 events M/WBE businesses assisted 258 260 270
*New performance measures for the department
56 DOWNTOWN WINSTON-SALEM BUSINESS IMPROVEMENT DISTRICT
PROGRAM DESCRIPTIONS
Downtown Winston-Salem Business Improvement District (BID): Created in November 2013, the Downtown Winston-Salem Business Improvement District provides an enhanced level of service within a defined area downtown and is funded from a dedicated property tax rate of 9₵ per $100 of value. The Downtown Winston- Salem Partnership currently provides services within the district according to five primary areas: cleaner environment, increased safety and security, stronger marketing and promotion, accelerated development, and enhanced physical appearance. The Downtown Winston-Salem Business Improvement District Advisory Committee, an eleven-member committee made up of various stakeholders within the district, provides oversight of the implementation of these services.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent EXPENDITURES BY TYPE FY 16-17 FY 17-18 FY 18-19 Change Downtown Winston-Salem Partnership $477,373 $594,350 $577,850 -2.8% Other Expenses 3,865 65,680 24,170 -63.2% Transfer to Capital Projects Fund 87,250 0 0 N/A
Total Expenditures by Type $568,488 $660,030 $602,020 -8.8%
RESOURCES BY TYPE Property Taxes $531,229 $598,030 $602,020 0.7% Investment Income 622 0 0 N/A Fund Balance Appropriation 36,637 $62,000 0 -100.0%
Total Resources by Type $568,488 $660,030 $602,020 -8.8%
PERFORMANCE MEASURES AND SERVICE TRENDS
Actual Estimated Projected
FY 16-17 FY 17-18 FY 18-19 Workload/Service Demand Bags of litter removed 2,895 3,188 3,000 Pounds of litter (45 pounds per bag) 130,275 143,460 135,000 Leaf and litter vacuum hours 602.5 695.5 650 Back pack (blower) hours 752.5 679 650 Pressure washing hours 88 91 90 Graffiti Removal hours 152 174 165
BUDGET HIGHLIGHTS
- For FY 2018-19, the Downtown Winston-Salem Business Improvement District Advisory Committee has recommended a tax rate of $0.09 per $100 of valuation to fund the enhanced services and programs within the district. The rate would be assessed on real and personal property, including registered motor vehicles.
57 DOWNTOWN WINSTON-SALEM BUSINESS IMPROVEMENT DISTRICT
BUDGET HIGHLIGHTS - Continued
- The below table shows the adopted budget for each service area:
Service Area Adopted Budget Percent of Total Cleaner Environment/Safety and Security $323,130 53.7% Stronger Marketing and Promotion $85,540 14.2% Accelerated Development $14,150 2.4% Enhanced Physical Appearance $74,130 12.3% Administration $80,900 13.4% Property Tax Collections $4,170 0.7% Contingency $20,000 3.3% Total $602,020
- Below is a map of the Downtown Winston-Salem Business Improvement District boundaries:
58 OFF-STREET PARKING
MISSION STATEMENT
The mission of the Off-Street Parking program is to provide an ample supply of safe, convenient, and clean off- street parking spaces at a competitive price, which meets the needs of the central business district.
PROGRAM DESCRIPTIONS
Operates two parking decks and five parking lots throughout the downtown area. These facilities account for almost 2,500 off-street parking spaces.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent EXPENDITURES BY PROGRAM FY 16-17 FY 17-18 FY 18-19 Change Parking Administration $444,668 $399,190 $470,360 17.8% Sixth-Cherry-Trade Deck 271,742 395,640 410,360 3.7% Fourth and Church Deck 1,398,827 1,267,210 1,198,550 -5.4% Parking Lots 49,690 61,540 52,240 -15.1%
Total Expenditures by Program $2,164,927 $2,123,580 $2,131,510 0.4%
RESOURCES BY TYPE Parking Services $735,519 $674,000 $674,000 0% Miscellaneous Revenue 9,516 0 0 N/A Forsyth County 435,348 471,870 466,890 -1.1% Interest Income 10,937 0 0 N/A Transfer from General Fund 591,150 495,150 495,150 0% Fund Balance Appropriation 382,457 482,560 495,470 2.7%
Total Resources by Type $2,164,927 $2,123,580 $2,131,510 0.4%
POSITION SUMMARY
Amended Amended Adopted POSITIONS FY 16-17 FY 17-18 FY 18-19 Change Full-Time 13 13 13 0 Part-Time (FTE’s) 2.5 2.5 2.5 0
PERFORMANCE MEASURES AND SERVICE TRENDS
Actual Estimated Projected
FY 16-17 FY 17-18 FY 18-19 Effectiveness Achieve an occupancy rate of 75% for monthly leased spaces 100% 100% 100% Workload Number of hourly patrons 78,960 90,000 90,000 59 OFF-STREET PARKING
BUDGET HIGHLIGHTS
- The following table provides budgeted FY 2018-19 revenues and expenditures by facility. Expenditures include an allocation of parking administration costs based on the number of spaces in each facility.
Net Income/ Revenues Expenditures (Loss) Parking Lots $94,000 $92,710 $1,290 Sixth-Cherry-Trade 240,000 549,780 (309,780) Fourth and Church 340,000 1,489,020 (1,149,020) Total $674,000 $2,131,510 ($1,457,510)
* The deficit at Fourth and Church Deck is shared between the County ($466,890) and the City ($682,130).
FY 2017-2018 Year-End Outlook
- The following table provides budgeted and estimated FY 2017-18 revenues and expenditures. The estimated transfer from the general fund for the year totals $495,150.
Budgeted Estimated FY 17-18 FY 17-18 Operating Revenues $674,000 $704,914 Operating Expenditures 1,072,040 1,007,967 Operating Income ($398,040) ($303,053) Capital Outlay ($100,000) ($300,000) Debt and Lease Expenses ($1,051,540) ($1,058,125) Forsyth County Contribution 471,870 466,895 Investment Income 0 22,455 Transfer from General Fund $495,150 $495,150 Net Income/(Loss) ($582,560) ($676,678)
Long-Range Financial Outlook
The following chart provide the outlook for the parking fund cash reserves. It assumes a General Fund subsidy of $495,150 through FY 2020-2021 and then adjusting in outlying years to keep the reserves around $510,000. The below outlook includes capital project expenditures.
60 OFF-STREET PARKING
BUDGET HIGHLIGHTS - Continued
Parking Fund Reserves $3.50 $3.14 $3.00 Millions $2.60 $2.50 $2.40 $1.92 $2.00
$1.50 $1.13 $0.92 $1.00 $0.51 $0.51 $0.51 $0.50
$0.00 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 21-22 FY 22-23 Actual Actual Actual Estimated Projected Projected Projected Projected Projected
Long-Range Projection of General Fund Subsidy to the Parking Fund
$1,400
$1,200 Thousands $1,000
$800
$600
$400
$200
$- FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23
61 WINSTON-SALEM FAIRGROUNDS
MISSION STATEMENT
The mission of the Winston-Salem Fairgrounds is to plan, promote, and produce the annual Dixie Classic Fair and to enhance the quality of life of citizens by providing year-round facilities for agricultural, fraternal, educational, social, and entertainment activities and events without taxpayer expense.
PROGRAM DESCRIPTIONS
Dixie Classic Fair: Plans, promotes, and produces the annual Dixie Classic Fair.
Non-Fair Events and Maintenance: Operates a 3,600-seat Annex for public ice skating, other ice activities, basketball games, and trade shows. Operates 30,000 square foot Education Building and 7,500 square foot Bolton Home and Garden Building for trade shows, banquets, community events, and other rentals. Operates a year- round Farmers Market at the Fairgrounds (each Saturday). Provides for maintenance of the Winston-Salem Fairgrounds and associated facilities.
Fairgrounds Administration: Provides for administrative functions for all events including planning, staffing, accounting, marketing, and general event coordination.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent EXPENDITURES BY PROGRAM FY 16-17 FY 17-18 FY 18-19 Change Dixie Classic Fair $1,720,394 $1,827,940 $1,914,600 4.7% Non-Fair Events and Maintenance 1,085,432 1,014,890 1,017,260 0.2% Administration 846,614 903,010 937,940 3.9% Subtotal $3,652,441 $3,745,840 $3,869,800 3.3%
Debt and Lease Expense $218,542 $398,210 $396,970 -0.3%
Total Expenditures by Program $3,870,983 $4,144,050 $4,266,770 3.0%
RESOURCES BY TYPE Fair Admissions $1,161,107 $1,425,000 $1,395,000 -2.1% Other Fair Revenues 1,444,766 1,369,000 1,520,500 11.1% Parking Services 341,843 345,000 320,000 -7.2% Non-Fair Revenues 805,866 689,300 687,800 -0.2% Interest Income 21,883 0 0 N/A Transfer from Occupancy Tax Fund 75,000 75,000 75,000 0% Fund Balance Appropriation 20,517 240,750 268,470 11.5%
Total Resources by Type $3,870,983 $4,144,050 $4,266,770 3.0%
62 WINSTON-SALEM FAIRGROUNDS
POSITION SUMMARY
Amended Amended Adopted POSITIONS FY 16-17 FY 17-18 FY 18-19 Change Full-Time 9 9 9 0 Part-Time (FTE’s) 22.8 22.8 22.8 0
PERFORMANCE MEASURES AND SERVICE TRENDS
Actual Estimated Projected FY 16-17 FY 17-18 FY 18-19 Effectiveness Fair operating revenue to operating expense ratio 1.71 1.70 1.70 Efficiency Revenue per Fair attendee (total attendance) $9.25 $9.87 $9.90 Cost per Fair attendee (total attendance) $6.32 $5.50 $5.75 Workload Total Fair attendance 280,067 300,105 325,000 Non-Fair events attendance 148,847 165,000 150,000
BUDGET HIGHLIGHTS
- On April 16, 2018, the Public Assembly Facilities Commission approved a resolution recommending to the Mayor and the City Council the adoption of the FY 2018-19 budget for the Winston-Salem Fairgrounds, The Benton, Bowman Gray Stadium, and Downtown Ballpark.
- Total expenditures are increased $122,720, or 3.0%, mainly due to the adopted 2% merit pay increase for employees and increased supplies, contractual, and temporary labor expenses to support professional minor league hockey, the Dixie Classic Fair, and other events.
- Total revenues are increased $95,000, or 2.4%. The adopted budget includes adjustments for non-fair events to reflect the shift from public ice skating to minor league hockey. Revenues projected from the 2018 Dixie Classic Fair show a net increase due to the new contract with the carnival provider.
FY 2017-18 Year-End Outlook
- The following table provides estimated year-end revenues and expenditures for the Winston-Salem Fairgrounds operations. Budgeted Estimated FY 17-18 FY 17-18 Operating Revenues $3,828,300 $3,845,429 Operating Expenditures (3,745,840) (3,791,916) Operating Income/(Loss) $82,460 $53,513 Interest Income 0 4,356 Debt and Lease Expense (398,210) (422,182) Transfer from Occupancy Tax Fund 75,000 75,000 Net Profit/(Loss) ($240,750) ($289,313)
63 WINSTON-SALEM FAIRGROUNDS
BUDGET HIGHLIGHTS - Continued
Long-Range Financial Outlook
- The following chart provides a fund balance projection for the Winston-Salem Fairgrounds fund. The projection includes additional annual debt service payments from $2 million in new capital funding that was approved in FY 2016-17.
Winston-Salem Fairgrounds Reserves
$2.50 $2.21 $2.09 $1.93
Millions $2.00 $1.83 $1.64 $1.50 $1.34
$1.00 $1.00 $0.62 $0.50 $0.25 $0.05 $0.00
64 THE BENTON
MISSION STATEMENT
The mission of the Benton is to provide a state-of-the-art, professionally managed convention and civic facility to attract out-of-town visitors that will provide economic benefits to the community and to enhance the social well- being of our citizens by providing a facility for social, educational, fraternal, and entertainment activities and events.
PROGRAM DESCRIPTION
Under a contract with Hospitality Ventures Management Group, operates a 90,000-square foot public assembly facility that hosts conventions, meetings, banquets, and trade shows. Works with Visit Winston-Salem and hotel sales staffs to develop sales proposals, present bids to prospective clients, and develop sales strategies and marketing plans.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent EXPENDITURES BY PROGRAM FY 16-17 FY 17-18 FY 18-19 Change The Benton $1,450,002 $915,550 $906,580 -1.0%
Total Expenditures by Program $1,450,002 $915,550 $906,580 -1.0%
RESOURCES BY TYPE Transfer from Occupancy Tax Fund $250,000 $250,000 $300,000 20.0% Transfer from General Fund 950,002 665,550 606,580 -8.9% Fund Balance Appropriation 250,000 0 0 N/A
Total Resources by Type $1,450,002 $915,550 $906,580 -1.0%
PERFORMANCE MEASURES AND SERVICE TRENDS
Actual Budgeted Estimated Projected FY 16-17 FY 17-18 FY 17-18 FY 18-19 Effectiveness Percent of available days that are booked 51.2% 75.3% 81.6% 84.9% Actual operating loss as a percent of budgeted loss 78% 100% 112% 100% Workload Total number of events 120 180 192 210 Total usage days 187 275 298 310 Total attendance 88,159 89,200 90,103 92,500 Available days for booking 365 365 365 365
65 THE BENTON
BUDGET HIGHLIGHTS
- In June 2016, Hospitality Ventures Management Group (HVMG) assumed the management agreement for The Benton as part of the sale of the Downtown Marriott and Embassy Suites hotels. While HVMG took over the day-to-day operations of the convention center, the City continues to be responsible for covering all operating losses for the convention center under the current agreement.
- The adopted FY 2018-19 budget reflects a full year of operation at The Benton, with operating revenues increasing by 27%, to reflect 80% usage days, and operating expenses increasing by 21.6%, mainly due to increased food and beverage expenses. The budgeted operating loss is decreased by 1.6%. The City’s contribution covers the operating loss, management fee, and other expenses (e.g., property insurance) and totals $906,580 for FY 2018-19. The contribution from the occupancy tax fund is increased to $300,000, and general fund support for The Benton totals $606,580 for FY 2018-19, a reduction of 8.9% from FY 2017-18. As more events are booked at The Benton, City staff expect to see a downward trend in the City’s subsidy for the facility.
- Under the agreement with HVMG, the City provides $250,000 annually for capital needs. The City will finance these expenditures over five years through the North Carolina Municipal Leasing Corporation, with the general fund covering the annual lease payment of $50,000. The FY 2018-19 capital contribution is included in the adopted budget for the following: lighting system improvements ($100,000), banquet table replacements ($50,000), mechanical system controls ($50,000), and contingency ($50,000). Including these debt payments, total general fund support amounts to $856,580.
FY 2017-18 Year-End Outlook
- The following table provides estimated year-end revenues and expenditures for The Benton Fund.
Budgeted Estimated FY 17-18 FY 17-18 Operating Income/(Loss) ($646,450) ($722,907) Non-Operating Expenses Management Fee $167,910 $169,569 Property Insurance 27,480 27,599 Miscellaneous Expenses 73,710 111,512 Loss Before Transfers ($915,550) ($1,031,587) Transfer from Occupancy Tax Fund $250,000 $250,000 Transfer from General Fund 665,550 781,587
Note: Debt service on funds borrowed for renovations at The Benton is not included in the budget information above. The FY 2018-19 debt service payment of $2,096,985 is included in the debt service fund budget. Total outstanding debt as of June 30, 2018 will be $16,577,241.
66 BOWMAN GRAY STADIUM
MISSION STATEMENT
Bowman Gray Stadium provides a public assembly facility that offers entertainment and sporting events for the citizens of Winston-Salem, Forsyth County, the Piedmont Triad, and northwest North Carolina.
PROGRAM DESCRIPTIONS
Operates an open-air stadium (capacity of 17,500) with a quarter mile asphalt race track equipped to handle spectator events including auto racing, football games, band competitions, concerts, and other mass spectator events.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent EXPENDITURES BY PROGRAM FY 16-17 FY 17-18 FY 18-19 Change Bowman Gray Stadium Operations $434,475 $428,510 $404,800 -5.5%
Total Expenditures by Program $434,475 $428,510 $404,800 -5.5%
RESOURCES BY TYPE Parking Services $26,193 $15,000 $16,000 6.7% Concessions 62,011 160,000 120,000 -25.0% Video Board Advertising 31,977 55,560 55,560 0% Winston-Salem State University 62,755 56,980 56,980 0% Rentals 122,061 133,150 133,150 0% Other/Miscellaneous 2,741 0 0 N/A Fund Balance Appropriation 126,737 7,820 23,110 195.5%
Total Resources by Type $434,475 $428,510 $404,800 -5.5%
PERSONNEL SUMMARY
Personnel are no longer allocated to Bowman Gray Stadium operations, as a result of the operating agreement with Winston-Salem State University.
BUDGET HIGHLIGHTS
- While the adopted FY 2018-19 budget for Bowman Gray Stadium assumes a full year of operations under City ownership, the sale of the stadium and surrounding property potentially could be approved before the end of calendar year 2018, based on City staff’s previous discussions with staff from Winston-Salem State University. The City currently has contracted with Winston-Salem State University to operate and maintain the stadium during 2018, including the NASCAR racing and WSSU Football seasons. The City has contracted with a new concession provider for 2018 and will receive 30% of gross sales. Note: Debt service on funds borrowed for the construction of the field house and other improvements is not included in the budget information. FY 2018-19 debt service payments of $364,937 and $237,503 are included in
67 BOWMAN GRAY STADIUM
BUDGET HIGHLIGHTS - Continued
the debt service and leasing funds, respectively. Total outstanding debt will be $4,366,121 as of June 30, 2018.
68 DOWNTOWN BALLPARK
PROGRAM DESCRIPTION
Accounts for the principal and interest payments required to pay off debt financings approved to purchase the land and construct the new downtown ballpark (i.e. BB&T Ballpark)
Resources include lease payments from the baseball team owners group, baseball ticket surcharges, and the incremental property tax revenue generated from the new development.
EXPENDITURES AND REVENUES SUMMARY
Actual Budget Adopted Percent
EXPENDITURES BY PROGRAM FY 16-17 FY 17-18 FY 18-19 Change Downtown Ballpark $1,607,532 $1,821,130 $1,793,180 -1.5%
Total Expenditures by Program $1,607,532 $1,821,130 $1,793,180 -1.5%
RESOURCES BY TYPE Lease Payments $1,593,100 $1,593,100 $1,638,100 2.8% Ticket Surcharge 175,000 175,000 175,000 0% Fund Balance Appropriation 0 53,030 0 -100.0%
Total Resources by Type $1,768,100 $1,821,130 $1,813,100 -0.4%
Addition to Fund Balance $160,568 $0 $19,920 N/A
BUDGET HIGHLIGHTS
- In FY 2013-2014, the financing arrangement for the downtown ballpark was restructured after a new investor group took ownership of the DASH baseball team. Under the new arrangement, the City issued debt to pay off the prior lien and become the sole owner of the ballpark. All principal and interest payments for debt issued by the City will be covered through lease payments made by the new team ownership. The DASH owners group pays the City in leases, payments-in-lieu of taxes, and ticket surcharges. The total amount of annual payments increases periodically over the course of the 25-year agreement. After 25 years, all debt on the ballpark will be paid in full.
- Under the agreement, no additional funds, other than those paid by the DASH owners group, will be needed to subsidize the ballpark financing arrangement. The DASH owners group will continue to be responsible for routine maintenance and improvements.
69 ECONOMIC VITALITY AND DIVERSITY COMMUNITY GRANTS
The City of Winston-Salem provides annual operating or capital support to community agencies that meet the legal requirements for receiving public funds, as stipulated in North Carolina General Statute §159-40. Moreover, to meet City requirements for funding, community arts and sciences agencies must meet certain specific organizational characteristics, as follows: • Non-profit, incorporated status, with at least two years of audited financial records and IRS 990 forms; • Sound organizational management with a well-rounded board of directors, governing under a set of written by-laws, as required under the articles of incorporation; • Broad-based support, city-wide; and • Policy of non-discrimination by race, sex, age, religion, or disability, in terms of the service provided and employment offered.
COMMUNITY GRANTEE AGENCIES
Budget Requested Adopted Percent EXPENDITURES BY AGENCY FY 17-18 FY 18-19 FY 18-19 Change A/perture Cinema $0 $27,500 $0 N/A Arts Council – Operating 217,360 250,000 217,360 0% Arts Council – Capital 52,540 70,190 70,190 33.6% Authoring Action 0 20,000 0 N/A Big Brothers Big Sisters Services, Inc. 0 200,000 0 N/A Center for Creative Economy 25,000 40,000 25,000 0% City with Dwellings 0 5,000 0 N/A Crosby Scholars 0 32,500 0 N/A Experiment in Self-Reliance (ESR) 85,230 125,000 85,230 0% Forsyth County Adult Drug Treatment Court 35,000 35,000 35,000 0% Forsyth County District Attorney Family Court 45,000 90,027 45,000 0% High Horizons Academies 0 50,000 0 N/A Institute for Dismantling Racism 33,350 35,196 33,350 0% J.W. Paisley Alumni Association 0 25,000 0 N/A Kaleideum – Operating 172,360 225,000 172,360 0% Kaleideum – Capital 50,000 50,000 50,000 0% LEAD Girls of NC* 0 5,000 0 N/A Mediation Services 7,500 0 0 -100.0% National Black Theatre Festival 85,000 100,000 100,000 17.6% North Carolina Governor’s School Foundation 0 57,307 0 N/A Old Salem 175,000 250,000 186,520 6.6% Piedmont Triad Film Commission 32,310 35,000 34,640 7.2% Reynolda House 75,000 50,000 0 -100.0% RiverRun International Film Festival 40,000 50,000 40,000 0% Shepherd's Center of Greater W-S 15,000 25,000 15,000 0% Triad Cultural Arts 0 75,000 0 N/A The Sergei Foundation 5,000 10,000 5,000 0% Winston-Salem MIXXER, Inc. 0 135,000 0 N/A YMCA: Youth Incentive Program 66,000 66,000 66,000 0%
Total Expenditures by Agency $1,216,650 $2,138,720 $1,180,650 -3.0%
Note: A full list of all community grantee agencies can be found in the City Manager’s message.
70 ECONOMIC VITALITY AND DIVERSITY NON-DEPARTMENTAL
Listed below are the adopted appropriations related to the Economic Vitality and Diversity strategic focus area that are not included in any of the program budgets in this section of the document.
EXPENDITURES Actual Budget Adopted Percent General Fund FY 16-17 FY 17-18 FY 18-19 Change Transfer to Economic Development Project Fund $2,111,400 $2,171,330 $3,251,540 19.7% Transfer to Convention Center Fund 950,002 665,550 606,580 -8.9% Smith Reynolds Airport 150,000 0 100,000 N/A Poverty Reduction Initiative 0 0 40,000 N/A Subtotal $3,211,402 $2,836,880 $3,998,120 40.9%
Other Funds Economic Development Grants Fund $3,640,073 $50,000 $55,000 10.0% Urban Development Action Grant Fund 72,971 0 0 N/A Economic Development Loan Fund 852,931 0 0 N/A Economic Development Project Fund 361,117 2,717,330 3,251,540 19.7% Occupancy Tax Fund 665,218 867,500 948,660 9.4% Subtotal $5,592,310 $3,634,830 $4,255,200 17.1%
Total Expenditures $8,803,712 $6,471,710 $8,253,320 27.5%
RESOURCES General Fund Other General Fund Revenues $3,211,402 $2,836,880 $3,998,120 40.9% Subtotal $3,211,402 $2,836,880 $3,998,120 40.9%
Other Funds Loan Repayments $132,794 $0 $0 N/A Investment Income 40,624 0 0 N/A Miscellaneous Revenue -600,848 0 0 N/A Occupancy Tax 783,673 747,500 801,000 7.2% North Carolina Department of Transportation 3,140,384 0 0 N/A State Grants 1,000,000 0 0 N/A Contributions 43,974 0 0 N/A Transfer from General Fund 2,111,400 2,717,330 3,251,540 19.7% Transfer from Occupancy Tax Fund 50,000 50,000 55,000 10.0% Transfer from Housing Finance Assistance Fund -3,141 0 0 N/A Fund Balance Appropriation – Urban Development 72,556 0 0 N/A Action Grant Fund Fund Balance Appropriation – Occupancy Tax Fund 681,927 120,000 147,660 23.1% Subtotal $7,453,343 $3,634,830 $4,255,200 17.1%
Total Resources $10,664,745 $6,471,710 $8,253,320 27.5%
71 ECONOMIC VITALITY AND DIVERSITY NON-DEPARTMENTAL
BUDGET HIGHLIGHTS
- The general fund transfer to the economic development project fund provides the economic development assistance to projects approved by the Mayor and City Council, based on the amount of investment added to the tax base. The adopted budget includes an increase of $534,210, due to increased scheduled payments for Corning, the Wake Forest Innovation Quarter, and Bailey Power Plant.
- Based on recommendations in the 2017-2021 Strategic Plan, the adopted budget includes a 10% increase in the contribution to the City’s public art fund from $50,000 to $55,000. Currently, there is a balance of approximately $80,000 in that fund.
72 ECONOMIC VITALITY AND DIVERSITY CAPITAL PROJECTS
Listed below are the adopted capital projects for the Economic Vitality and Diversity strategic focus area.
Adopted EXPENDITURES FY 18-19 Off Street Parking Parking Deck Renovations $410,000
Entertainment 250,000 The Benton Capital Renovations (Annual Contribution)
Total Expenditures $660,000
FUNDING SOURCES Reserves Parking Fund $410,000
Other North Carolina Municipal Leasing Corporation 250,000
Total Funding Sources $660,000
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