City Budget Breakdown

COLUMBIA, SC – This past Tuesday night, June 16, Columbia City Council approved a FY 15/16 budget worth  $130,727,558, an increase of 2.6%, or $3,263,468 over the previous year.

The budget, to get a grip on such a document, can be broken down into five distinct sections: Revenue, Transfers In, Departments, Non-Departmental & Misc., and Transfers Out.

Revenue                              $117,086,953

Transfers In                           $13,640,605

Departments                        $112,855,458

Non-Departmental & Misc.        $2,810,817

Transfers Out                        $15,061,283

TOTAL BUDGET                  $130,727,558

That’s also known as the General Fund. In addition the city has its Parking Fund, which is expected to be $7,274,500. Parking contributes $500,000 to the General Fund and $260,112 to internal service funds for a total transfers out of $760,112, an increase of 194% over the previous year. Water & Sewer comes to $133,780,145, with a transfer out to public safety for $2,675,605. Last year’s transfer out from the Water & Sewer for $4,000,000 to the General Fund has been dropped for FY 15/16. Storm Water comes to $7,104,000. The Hospitality Fund for FY 15/16 will be $10,655,603, a drop of 11%, or $1,256,615 less next year than this year. Accommodations taxes for FY 15/16 are budgeted for $2,100,801, about the same as the previous year.

For a city publication called “Budget in Brief” that discloses the FY 2015-2016 budget in greater detail, call Missy Caughman, Budget Director, 545.3201; or try Tina Saxon, Budget Analyst, 545.3062.