2019 Comprehensive Annual Financial Report (CAFR)

3. Interfund Transfers:

Non-Major Governmental Funds

Internal Service Funds

General Fund

Transfers From:

$ (36,495,366)

$

(23,346,062)

$

(108,503)

Transfers To: General Fund

$

$ 6,693,800

$

53,000

Debt Service Fund

23,405,610 1,014,270

Non-major Governmental Funds

2,229,887

Enterprise Funds: Coliseum

3,092,531 1,830,537

13,858,125

Solid Waste Management

Greensboro Transit Advisory Commission

564,250

Internal Service Funds

7,152,418 36,495,366

55,503 108,503

Total

$

$ 23,346,062

$

Greensboro Transit Advisory Commission Fund

Total

Transfers From:

$

(49,227)

$ (59,999,158)

Transfers To: General Fund

$

$ 6,746,800

Debt Service Fund

23,405,610 3,293,384 16,950,656 1,830,537 564,250 7,207,921

Non-Major Governmental Funds

49,227

Enterprise Funds: Coliseum

Solid Waste Management

Greensboro Transit Advisory Commission

Internal Service Funds

Total

$

49,227

$ 59,999,158

Transfers are used to move unrestricted revenues to finance various programs that the government must account for in other funds in accordance with budgetary authorizations, including amounts provided as matching funds for various grant programs. The Greensboro ABC Board transferred $4,530,893 to the General Fund in Fiscal Year 2019, which was recorded as Intergovernmental Revenue. G. Long-Term Debt Long-term Bonded Debt of the City consists of General Obligation Bonds, which are collateralized by the full faith, credit and taxing power of the City and are issued for both general governmental improvements and for Proprietary Fund purposes. The City’s legal debt margin as of June 30, 2019 is $1,822,980,487. Long-term Bonded Debt consists of the following: 1. General Governmental Improvement General Obligation Bonds These outstanding tax-exempt and taxable bonds bear interest, payable monthly, at variable rates along with interest payable semi-annually at fixed rates from 2.00% to 5.00%. The outstanding tax-exempt and taxable variable rate bonds are reported at 1.70%, and 2.37%, respectively as of June 30, 2019. Principal is payable annually in varying amounts through 2039. 37y