The City of Germantown is diligent in maintaining adequate funding levels to support existing services and anticipated service requirements. Some of the City’s Special Revenue Funds and Enterprise Funds are dependent upon funds received from the City’s General Fund. This objective reduces the dependency of taxpayer dollars from the General Fund to support Special and Enterprise Funds. Over time, the General Fund will reduce funding to the Special Revenue Funds making these funds self-sufficient except for capital needs; however, the Enterprise Funds should be self-sufficient including capital needs. Both of these funds must generate revenues that exceed expenditures.
General Fund transfers to Special Revenue Funds
Percent of total Special Revenue Fund revenues transferred from the General Fund. The objective is to reduce the dependency of taxpayer dollars from the General Fund to support Special Revenue Funds including Recreation, State Street Aid, Drug Asset Forfeiture, Federal Asset Forfeiture, Pickering, Ambulance and Farm Park.
Fiscal year 2022 reflects a 40.79% transfer from the General Fund to the Special Revenue Funds to help support operations. This means that for the total revenues received for the activities, 40.79% came from the General Fund. The transfer for fiscal year 2022 is lower than previous years due to the health of the Special Revenue Funds which allowed less funds needed for the General Fund. Also, in fiscal year 2021, the City transfer additional dollars to the State Street Aid fund which allowed the fiscal year 2022 transfer to be lower. At this time, the Special Revenue Funds that are receiving transfer funds from the General Fund are State Street Aid, Ambulance, and Farm Park.
The City has a high ability to impact this measure.
General Fund transfers to Enterprise Funds
Percent of total Enterprise Fund revenues received from the General Fund. The objective is to reduce the dependency of taxpayer dollars from the General Fund to support Enterprise Funds such as Germantown Athletic Club, Great Hall, Sanitation, and Stormwater.
Fiscal year 2022 reflects a 1.27% transfer from the General Fund to the Enterprise Funds to help support operations. This means that for the total revenues generated for each of those activities, only 1.27% came from the General Fund. While the transfer is still higher than the pre-covid transfer, the City is still below target by 8.73 basis points. Compared to last, the transfer amount has decreased by 35% or $80,000. Being below the target means that the amount of money that is saved from transfers to Enterprise Funds can be used to assist in operational cost and capital projects such as police and fire equipment, school needs, and other departmental cost that are covered under the General Fund. The Utility Fund is not included in this equations because by law, the General Fund is prohibited from transferring monies to this fund. As of now, the only Enterprise Fund that is receiving a Transfer from the General Fund is the Great Hall & Conference Center.