2020 Comprehensive Annual Financial Report

preparedness, elder abuse and online bullying. The department remains focused on violent and property crime reductions through creative policing strategies that combine evolving technology with innovative police initiatives, allowing the department to remain at the forefront of its profession. GPD and its community partners successfully launched the next efforts of the Safer City Summit initiative, focusing on employment, housing, and gang concerns in an effort to further reduce violent crime through nontraditional policing approaches. City funding to support the efforts of the Cure Violence program continue in FY 2020- 21, as does funding to support the new Behavioral Health Response program. Fire facility growth and maintenance continues with the opening of Fire Station #63 in April 2019 and replacement of Fire Station #7 and #56 that are currently under construction. The Public Safety Training Facility’s 60 year-old buildings were replaced during summer 2020 with a new five-story drill tower and three-story burn building, funded by bonds. • Infrastructure / Growth – The successful 2016 bond referendum totaling $126 million includes $34.5 million for new parks capital improvements. Five million is programmed for the initial development of the Battleground Parks District, an innovative concept that will integrate the current recreation options at the City’s Country Park with nearby Guilford Courthouse Military Park and the Greensboro Science Center. $3.0 million are allocated to citywide improvements to Greensboro’s many public tennis courts, and $4.5 million are included for further development at Gateway Gardens and Barber Park. For transportation enhancements, $4.5 million are allocated to new transit buses, $5.0 million for new sidewalk and intersection improvements, $500,000 for renovations to the Galyon Depot and $18 million for street resurfacing. In 2016, voters approved $25 million in Housing Bonds to support the development and repair of an estimated 1,007 housing units and to leverage approximately $54 million from other funds. To date, $9.13 million in Housing Bond funds have been committed to 917 units with over $100 million in anticipated leverage funds. The City’s proposed FY 2021-2030 Capital Improvements Plan (CIP) totals $1.5 billion in identified projects and outlines a future financing plan to maintain our current infrastructure and develop new facilities as needed. The proposed CIP includes $658 million in water and sewer infrastructure projects, nearly 44% of the total capital improvement plan. • Customer Service/Diverse Workforce and Fiscal Management – The City’s focus on customer service, a diverse workforce and fiscal stewardship, transparency and accountability ensures the City has the right people doing the right job. The budget continues a variety of employee development initiatives, including MentorMe (employee-to-employee mentoring program), Toastmasters, and development programs, such as Leadership Edge and Leadership Prime, designed for employees wishing to pursue supervisory roles in the organization. The FY2020-21 budget includes a 2.0% cost of living increase for all eligible employees. The recommended budget includes funding to advance sworn police and fire personnel to the appropriate next steps in the Public Safety Step Program. Finally, this budget maintains external competitiveness by adjusting general and executive pay range structures by two percent.

FACTORS AFFECTING FINANCIAL CONDITION A. Local Economy

Greensboro's diverse economy is attributed to its unique blend of trade, manufacturing and service businesses as well as its universities and colleges. Local industry is characterized by the production of a wide range of products, including aircraft, machinery, electronics equipment, textiles, apparel and tobacco, and expansion in the aircraft maintenance, transportation and financial services industries. Five of the top 50 companies on the Fortune 500 list have operations in the Greensboro area; these include UnitedHealth Group, AT&T, UPS, FedEx and Procter & Gamble. This area experiences an excellent market location that has access to all major domestic and international markets from Interstate Highways 40, and 85 and the Piedmont Triad International Airport (PTIA). Construction is underway for a new interstate system (I-73) that will span North Carolina, joining Detroit and IV