2022 Annual Comprehensive Financial Report

2. Authorized capital projects at June 30, 2022 are comprised of the following:

Project

Expended Through Unexpended

June 30, 2022

Authorization

Authorization

Governmental Funds:

Special Revenue (1)

$

170,400,905 529,829,831 700,230,736

$

76,037,594 400,914,399 476,951,993

$

94,363,311 128,915,432

Capital Projects

$

$

223,278,743 $

Enterprise Funds:

Water Resources

$

657,899,136 29,109,363 154,143,470 7,421,850 71,182,766 68,922,326 988,678,911

$

483,989,791 10,976,582 151,576,755

173,909,345 $

Stormwater Management

18,132,781 2,566,715 6,894,797 11,194,974

Coliseum

Solid Waste Management

527,053

Parking Facilities

59,987,792

Greensboro Transit Advisory Commission

51,824,710 758,882,683

17,097,616

$

$

229,796,228 $

(1) Includes Powell Bill Transportation Projects

3. Financial Assistance Programs The City participates in a number of Federal and State financial assistance programs. For the Fiscal Year ended June 30, 2022 these programs were subject to audit in accordance with the Single Audit Act Amendments of 1996, the new Uniform Grant Guidance and the State Single Audit Implementation Act. The amount, if any, of expenditures which may be disallowed by the granting agencies resulting from this and other audits cannot be determined at this time, although the City expects such amounts if any, to be immaterial. 4. Contingencies The City is involved in certain lawsuits with former members of the Greensboro Police Department and other matters. The City will defend these suits and claims vigorously, and although no assurances can be given as to the ultimate outcome of these matters, the City’s legal counsel is of the opinion that any possible liability of the City resulting from an adverse adjudication in such matters would not have a material adverse effect on the financial position of the City. The City in conjunction with five other governmental entities formed the Authority in September 1987 to develop a regional water supply. The Authority’s board is composed of ten members, three of which are appointed by the City Council. The joint venture agreement provided that each participant annually contribute funds to acquire land, a reservoir and to construct the Randleman Dam. The reservoir, dam and water treatment plant projects are complete and water began flowing through the system to Greensboro in October, 2010. The City’s funding share was originally 59.4%, or $33,858,000, based on a percentage of future raw water allocations. Initial City contributions, funded from the Water and Sewer Capital Reserve Fund, total $34,063,761, including $205,761 for staff administration and equipment fees paid from City operations. Additional cash payments were subsequently made on a pay-as-you-go basis to further fund reservoir, infrastructure, water treatment plant construction and other improvements for a total net Greensboro investment of $72,478,578 net of amortization of $21,304,879 as of June 30, 2022. The City contributed annual member dues in the amount of $942,887 in FY 2022 to cover the Authority’s administrative and operating costs. In December 2004, the City received a reimbursement of $5,244,257 from Randolph County to acquire a portion of Greensboro’s future raw water allocation which effectively reduced the City’s share of the project to 53.1%. D. Joint Venture Piedmont Triad Regional Water Authority (Authority)

37ll