2022 Annual Comprehensive Financial Report

which is included in the Coliseum fund for reporting purposes, held its first performance on September 2, 2021. The Performing Arts Center brought in $36.3 million of the $64.7 million charges for current services during the fiscal year. Revenues and expenses for a given year may fluctuate based on the number of events and nature of the associated event agreements. 5) Solid Waste Management Fund Charges for current services totaled $13,470,188 as compared to $14,030,248 for the preceding year, a decrease of 4.0%. Operating expenses (excluding depreciation) totaled $34,541,476 as compared to $15,407,945 for the preceding year, an increase of 124.2% primarily due to increases to adjust for closure and post closure of the landfill. The decrease in charges for current services primarily relates to a decrease in construction and demolition fees. 6) Greensboro Transit Advisory Commission Charges for current services totaled $1,493,159 as compared to $661,975 in the preceding year, an increase of 125.6% primarily due fare service collection returning to normalcy in FY 2022 after the height of the pandemic. Operating expenses (excluding depreciation) totaled $25,995,048 as compared to $21,545,652, an increase of 20.7%, primarily due to the increase in fuel cost and increases in contracted transportation due to a full year of operation. This operation is primarily funded with grants and property and motor vehicle tax. 7) Parking Facilities Fund Charges for current services totaled $2,823,567 as compared to $2,128,981 in the preceding year, an increase of 32.6%. The increase in parking fee revenue is due to the return of downtown activities and events after the peak of the pandemic. Operating expenses (excluding depreciation) totaled $2,637,110 as compared to $2,355,461 for the preceding year, an increase of 12.0% due to increased personal services due to coverage needed for more events downtown.

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