2020 Comprehensive Annual Financial Report

and local governments. The survey recognizes cities that use technology to improve services and boost efficiencies. In 2018, Greensboro stood out for its mobile progress, including the TransLoc Rider app that allows real-time tracking of city buses and its Parkmobile app that allows drivers to pay to park at all meters and parking lots using the online mobile payment system. In 2019, Greensboro was recognized for using technology to tackle social challenges, enhance services and strengthen cybersecurity. This is the fifth Digital Cities Survey Award for Greensboro. In July 2019, the Piedmont Discovery App was launched. This mobile application, designed and managed by the City of Greensboro, City of High Point and Guilford County, is an interactive park and trail app created to search hundreds of local parks, trails and recreational opportunities. The app allows users to find outdoor amenities like trails, playgrounds or dog parks, as well as indoor recreational facilities. App users can search

for parks and trails near them, find directions, connect with websites and explore trails based on difficulty and terrain. The City’s Parks and Recreation Department has been accredited by the Commission for Accreditation of Parks and Recreation Agencies (“CAPRA”) since 2006. The Department is currently one of only 166 agencies in the United States to receive the national accreditation, which shows the City’s high level of commitment to developing a standard of excellence throughout the organization that meets or exceeds National Recreation and Park Association and CAPRA national standards. The City has over 3,000 acres of developed park sites and over 8,000 acres of undeveloped land from open space dedications. There are five regional parks and two public golf courses that represent over one-half of the City’s park system at over 3,500 acres.

Greensboro has also been recognized for its effort in forming the Tri-Gig High Speed Broadband Initiative . The regional partnership plans to take advantage of existing fiber optic cable infrastructure previously installed for Greensboro’s traffic-light system. The partnership hopes to provide the next-generation of high-speed broadband infrastructure needed to meet the technological needs of current and future businesses, public institutions, educational institutions, and local residents at a substantial discount from current market prices. The Piedmont Triad Regional Council selected North State Communications as its preferred vendor for delivering high-speed internet services to the region. The Greensboro region is well suited for sizeable computing centers and high tech companies due to the significant electric power grid developed in previous years to accommodate large textile manufacturing operations, along with existing fiber optic and advanced telecommunications infrastructure. In addition, legislation was passed that extends tax incentives to smaller data center customers in North Carolina and makes it a state with one of the lowest investment thresholds. AT&T, Facebook, Apple, Google and IBM among other large-scale data centers and tech companies, have operations in North Carolina. FY 2020 General Fund revenues are reported at 99.6% of budgeted amounts with 96.3% of budgeted expenditures spent. General fund revenues and transfers in totaling $299.1 million were less than budgeted amounts by $1.2 million while expenditures and transfers out were $297.9 million. The fiscal year 2019-20 budget provided for a $9.2 million General Fund balance appropriation; however, the use of the appropriation was not needed. The fund balance policy target of 9% of the subsequent General Fund budget was maintained ($27.7 million) and the General Fund reserve for capital projects increased from $5.0 million to $6.5 million. This reserve amount is recorded directly within the General Fund accounts. Property tax collections were 99.4% of the current year’s levy, slightly higher than at the same time last year, with overall collections approximating close to 100% over a two to three year period from levy date. The continued high collection rate is further bolstered by the motor vehicle property tax system implemented by the State of North Carolina in 2013 called “Tax and Tag Together”. North Carolina’s vehicle registration program only allows a vehicle to be registered by the State with corresponding payment of local property tax due.

XVII