2019 Comprehensive Annual Financial Report (CAFR)

B. Business-Type Activities Business-type activities increased the City of Greensboro’s net position by $44 million, largely attributable to the inclusion of the newly formed GTAC in the FY 2019 financial statements. The General Fund continued to support the Coliseum and solid waste operations; however, water, sewer, stormwater, GTAC and parking fees were sufficient to cover operations. 1) Enterprise Funds There are six separate and distinct operations accounted for in the Enterprise Funds: the Water Resources Utility Operations, Stormwater Management Services, Coliseum Complex, Solid Waste Management, Greensboro Transit Advisory Commission (GTAC) and Parking Facilities (Other Non-Major Fund). Depreciation is computed on all depreciable plant and equipment and is reflected as an operating expense. Depreciation expense also includes amortization of software and licenses and other intangible assets, such as water rights. The following schedule reflects the change in net position before and after depreciation/amortization for each of the enterprises compared to the preceding year.

Table B-1 Change in Net Position– Business-Type Activities (In thousands of dollars )

Change in Net Position

Change in Net Position

Before

After

Depreciation/Amortization*

Depreciation/Amortization*

Enterprise Activities Water Resources

2019

2018

2019

2018

$ 48,269 $ 46,156

$

19,189 $ 19,772

Stormwater Management

2,867

2,315 1,600

880

406

Coliseum

23,908

20,673

(1,632)

Solid Waste Management Greensboro Transit Advisory Commission

1,605

687

1,171

252

5,287 1,145

1,855

Parking Facilities

906

576

336

Total

$ 83,081 $ 51,664

$

44,344 $ 19,134

*Excludes the effect of Internal Service Fund chargebacks. Major activities and/or changes in the Enterprise Fund operations are presented in the following comments. 2) Water Resources Fund Charges for current services totaled $116,906,359 compared to $114,964,118 for the preceding year, an increase of 1.7%. Operating expenses (excluding depreciation) increased by 5.1% and 2l