2020 Comprehensive Annual Financial Report

The Greensboro Television Network (GTN), the City’s government cable channel, received three awards in 2020 from the Telly Awards , a national television competition recognizing excellence in broadcast production. These three awards were; Silver award for Inside Discovery at the Science Center, Bronze award for Historic Hillside home renovation and Bronze award highlighting the public information process. GTN has won 24 Telly Awards since 2000.

In 2020, the City of Greensboro earned the LEED Silver® certification from the US Green Building Council for its sustainability efforts. Leadership in Energy and Environmental Design (LEED) is the world’s most widely used green building rating system and promotes strategies to reduce environmental harm, enhance human health and support economic development. As part of the LEED certification process, the City tracks and verifies performance on a wide range of sustainability indicators including energy, water, transportation, education, health and more. LEED provides a consistent rating system and independently verified data analysis, allowing for comparison across peer cities.

CERTIFICATE OF ACHIEVEMENT The City has participated in the Government Finance Officers Association of the United States and Canada (GFOA) Certificate of Achievement for Excellence in Financial Reporting program since 1975. Through the annual recertification process, the GFOA recognizes governmental units that issue their comprehensive annual financial reports (CAFR) substantially in conformity with the standards of the Governmental Accounting Standards Board. The City has received the Certificate of Achievement for forty-five consecutive years, (1975 through 2019). We believe our CAFR continues to conform to the Certificate of Achievement Program requirements, as an easily readable and efficiently organized financial report, and are submitting it to GFOA to determine its eligibility for this year’s Certificate of Achievement.

To conclude, a review of the financial statements of the City will indicate a sound financial position. The financial outlook for FY 2020-21 is stable; with moderate revenue growth forecasted and continued cost-saving measures. Present management efforts in long-range strategic and comprehensive planning should enable the City to generate adequate resources to meet future service demand levels, afford a stable financial position, protect the City's credit ratings, and maintain realistic tax burdens on the public. City staff is preparing to meet the challenges of the twenty-first century to exceed the expectations of citizens for service delivery. The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the Administration, Financial Reporting, Treasury and Accounting Divisions of the Financial and Administrative Services Department. We would like to express our appreciation to all personnel who assisted and contributed to the preparation of this report. We would also like to thank the members of the City Council for their interest and support in planning and conducting the financial operations of the City in a responsible

and progressive manner. Respectfully submitted, David Parrish City Manager Richard L. Lusk Finance Director

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