2020 Comprehensive Annual Financial Report

3. Interfund Transfers:

Internal Service Funds

Non-Major Governmental Funds

General Fund

$ (40,296,344)

$ (15,491,248)

$

(608,503)

Transfers From:

Transfers To: General Fund Debt Service Fund Non-major Governmental Funds Enterprise Funds: Coliseum Solid Waste Management

$

$ 6,701,548

$

53,000

26,644,740 830,696

3,587,062

3,090,371 1,830,537

4,324,906

500,000

Greensboro Transit Advisory Commission

877,732

Internal Service Funds Total

7,900,000 40,296,344

55,503 608,503

$

$ 15,491,248

$

Greensboro Transit Advisory Commission

Non-Major Enterprise Fund

Total

Operating Transfers From:

$

(17,600)

$

(40,907)

$

(56,454,602)

Transfers To: General Fund Debt Service Fund Non-Major Governmental Funds Enterprise Funds: Coliseum Solid Waste Management

$

$

$

6,754,548 26,644,740 4,476,265 7,915,277 1,830,537 877,732 7,955,503 56,454,602

17,600

40,907

Greensboro Transit Advisory Commission

Internal Service Funds Total

$

17,600

$

40,907

$

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. Transfers are made to the Debt Service Fund for the City’s governmental debt outstanding to account for the principal and interest payments as they become due during the year. The Greensboro ABC Board transferred $4,902,116 to the General Fund in Fiscal Year 2020, 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, 2020 is $1,916,450,559. Long-term Bonded Debt consists of the following:

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