2019 Comprehensive Annual Financial Report (CAFR)

Business-Type Activities: The Water Resources budget increased approximately $2.5 million or 1.9% for the FY 2020 budget as compared to the previous budget. Transfers of $26.6 million to the Water Resources Capital Improvements Fund are budgeted to allow for capital expenditure needs in accordance with the long-term Capital Improvement Plan as well as improve the City’s water and sewer system, including rehabilitation of older water and sewer lines. Water Resources overall staffing levels are projected to increase by 6 FTEs; one Construction Projects Coordinator and five Sewer Construction Crew employees. Debt service payments will increase slightly $28.7 million to $28.9 million, supporting the enterprise’s planned debt program. Water Resources instituted a rate increase of 4.0% for customers inside and outside the City limits on July 1, 2019, which is expected to generate $5.3 million in additional revenues. The rate increase equates to approximately $1.81 more per month for customers inside the City and approximately $4.52 more per month for those outside and still positions Greensboro as having the second lowest water rates among North Carolina cities, (January 2019) with a water bill of 0.56% of the Median Household Income (MHI). Rates of less than 2% of MHI are considered to be favorable. Approximately 95% of all of the utility’s customers reside within the City limits. Requests for Information This financial report is designed to provide a general overview of the City of Greensboro’s finances and to demonstrate the City’s accountability for the money it receives. Questions concerning any information provided in this report or requests for additional information should be addressed to City of Greensboro Financial and Administrative Services Department, P.O. Box 3136, Greensboro, North Carolina 27402- 3136 or by calling (336) 373-2077, or by visiting our website at www.greensboro-nc.gov.

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