2022 Annual Comprehensive Financial Report

Resources projects. Additional amounts are planned for Parks and Recreation projects, Libraries and Fire Stations. While the substantial portion of the CIP is funded by bonds and Enterprise Fund operations, the CIP is also funded by grant revenue, including community contributions, community development efforts, transit and other sources. During the 10-year planning period, grants are projected to be available to support a variety of Transportation projects, including sidewalk construction, greenway projects, road projects, and transit improvements. Total Grants funding in the CIP equates to $229 million, approximately 12.0% of the total CIP. Unauthorized bond funding represents $554 million or 29.0% of the current plan. The CIP also includes $88 million categorized as other revenue. For the fiscal year ended June 30, 2022, General Fund Revenues were $339 million, an increase of $18.5 million over the prior year and approximately 104% of budget. Continued strong sales tax receipts contributed more than $13 million of the revenue increase. General Fund expenditures were $328 million, an increase of $28.6 million over the prior year, and approximately 96.5% of budget. Prior year expenditures were lower than typically recorded due to cost containments for uncertainties and from program changes during the pandemic period. The fiscal year ended June 30, 2022 resulted in more normalized City operations. The City of Greensboro’s total budget for the 2022-23 fiscal year has been approved for $688.3 million. The budget included a property tax rate of 63.25 cents per $100 property value, compared to an estimated revenue neutral rate of 54.56 cents due to property revaluation. On March 11, 2021, upon congressional approval, President Biden signed into law the $1.9 trillion recovery package known as the American Rescue Plan Act (“ARPA”). The federal recovery package included direct assistance to local governments in funding response efforts towards the public health emergency or its negative economic impacts, premium pay for frontline workers, replacement of revenue loss from government services, and necessary infrastructure improvements. The City received direct funding of $59.4 million from the U.S. Treasury in two tranches of $29.7 million each. The first tranche was received in May 2021, and the second tranche was received in June 2022. C. Additional Awards and Special Recognition The City has received the 2022 Daniel Burnham Award for a Comprehensive Plan from the American Planning Association (APA) in recognition of its focused, multi-year community engagement lead by Greensboro’s Planning Department. The Comprehensive Plan, titled GSO2040 , was recognized as the innovative leader in comprehensive plans and as a national example of how planning and planners work to make our communities better, stronger and more resilient. GSO2040 , which outlines how Greensboro should develop in the next 20 years, was created with input from many public events and work sessions, public talks with nationally known development and planning experts, and input and assistance from most of the City’s departments and offices. This is the second award GSO2040 has received; the first was the 2021 Marvin Collins Planning Award for a Comprehensive Plan from the NC chapter of APA in recognition of the science and art of planning. The Greensboro Fire Department (GFD) received Accredited Agency status with the Commission on Fire Accreditation International (CFAI) for meeting the criteria established through the CFAI’s voluntary self assessment and accreditation program. This is the sixth consecutive occasion the GFD has received this honor dating back to 1997. Greensboro is one of only three fire departments in the nation to receive the Center for Public Safety Excellence Accreditation (CPSE) status six consecutive times.

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