2023 Annual Comprehensive Report

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CoverCover
Title PageTitle Page
Table of ContentsTOC1
Introductory SectionI
Letter of TransmittalI
Certificate of Achievement for Excellence in Financial ReportingXXIX
Organizational ChartXXX
City OfficialsXXXI
Financial Section1a
Report of Independent Auditor1a
Management's Discussion of Analysis2a
Basic Financial Statements3
I. Government-Wide Financial Statements3
Statement of Net Position3
Statement of Activities5
II. Fund Financial Statements7
Balance Sheet- Governmental Funds7
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position9
Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds..10
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities12
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual - General Fund14
Statement of Revenues, Expenditures, and Changes in Fund Balances - American Rescue Plan Act Fund22
Statement of Net Position - Proprietary Funds23
Reconciliation of the Statement of Net Position of Proprietary Funds to the Statement of Net Position27
Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds28
Reconciliation of the Statement of Revenues, Expenses, and Changes in Net Position of Proprietary Funds to the Statement of Activities30
Statement of Cash Flows - Proprietary Funds31
Statement of Fiduciary Net Position - Fiduciary Funds35
Statement of Changes in Fiduciary Net Position - Fiduciary Funds36
Statement of Net Position - Component Units37
Statement of Activities - Component Units38
III. Notes to the Financial Statements40a
Required Suplementary Information41
Law Enforcement Officers’ Special Separation Allowance (LEOSSA) Pension Benefit Trust41
Schedule of Changes in Net Pension Liability and Related Ratios.41
Schedule of Employer Contributions43
Schedule of Investment Returns45
Other Postemployment Benefit Plan (OPEB) Trust47
Schedule of Changes in Net OPEB Liability and Related Ratios47
Schedule of Employer Contributions49
Schedule of Investment Returns51
Local Government Employees’ Retirement System53
Employer’s Proportionate Share of Net Pension Liability (Asset) and Employer Contributions.53
Combining and Individual Fund Statements and Schedules55
Combining Balance Sheet - Nonmajor Funds55
Governmental Funds55
Special Revenue Funds56
Capital Projects Funds60
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Funds64
Governmental Funds64
Special Revenue Funds65
Capital Projects Funds69
Schedule of Changes in Long-Term Debt-Enterprise Funds and Water Resources Capital Assets73
Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual74
Special Revenue Funds74
State Highway Allocation76
Cemetery77
Hotel/Motel Occupancy Tax78
Special Tax Districts79
Housing Partnership Revolving80
Community Development81
HOME Program83
Workforce Investment Act84
State and Federal Grants85
State and Federal Grants (ARRA)89
Emergency Rental Assistance- Guilford County Fund90
Emergency Rental Assistance 2- Guilford County Fund91
Opioid Settlement Fund92
Emergency Telephone System93
Debt Service Fund95
Capital Projects Funds96
Street and Sidewalk97
State Highway Allocation98
General Capital Improvements99
General Capital Improvements II100
Street Improvements Bond — Series 2010101
Transportation Bond — Series 2016102
Parks and Recreation Bond — Series 2016103
Housing Bond — Series 2016104
Community & Economic Development Bond — Series 2016105
Fire Station Bond — Series 2019106
Parks and Recreation Bond — Series 2022107
Fire Station Bond — Series 2022108
Law Enforcement Bond — Series 2022109
Housing Bond — Series 2022110
Perpetual Care Fund111
Enterprise Funds112
Schedules of Revenues, Expenses, and Changes in Fund Balance-Budget and Actual (Non-GAAP)113
Water Resources114
Water Resources Bond — Series 2014116
Water Resources Bond Fund — Series 2018117
Water Resources Bond Fund — Series 2022118
Water Resources Capital Improvement119
Water Resources Extension Project120
Stormwater Management121
Stormwater Capital Improvement123
Coliseum124
Performing Arts Fund126
Performing Arts Center Capital Project128
Coliseum Capital Improvement Bond129
Coliseum Capital Improvement130
Solid Waste Management131
Solid Waste Capital Improvement133
Greensboro Transit Advisory Commission134
Greensboro Transit Advisory Commission Grant Fund136
Parking Facilities137
Parking Facilities Capital Project139
Parking Facilities Bond140
Internal Service Funds141
Combining Statement of Net Position142
Combining Statement of Revenues, Expenses and Changes in Net Position144
Combining Statement of Cash Flows146
Schedule of Changes in Long-Term Debt148
Schedules of Revenues, Expenses, and Changes in Fund Balance-Budget and Actual (Non-GAAP)149
Equipment Services150
Equipment Services Capital Project Fund152
Technical Services153
Technical Services Capital Project155
Information Systems156
Graphic Services158
Guilford Metro Communications160
Employee Risk Retention162
General Risk Retention164
Capital Leasing166
Fiduciary Funds168
Statement of Fiduciary Net Position – Fiduciary Funds169
Statement of Changes in Fiduciary Net Position – Fiduciary Funds170
General Capital and Debt Schedules171
Schedule of General Capital Assets by Source171
Schedule of General Capital Assets by Function and Activity172
Schedule of Changes in General Capital Assets by Function and Activity174
Schedule of Long-Term Debt176
Schedule of Changes in General Long-Term Debt178
Statistical Section (unaudited)180
I. Financial Trends181
Net Position by Component181
Changes in Net Position, Expenses,Program Revenues, and Net (Expenses)/Revenue183
Changes in Net Position, General Revenues and Total Changes in Net Position185
Fund Balances, Governmental Funds187
Changes in Fund Balances, Governmental Funds189
II. Revenue Capacity191
Tax Revenues by Source, Governmental Funds191
Schedule of Ad Valorem Taxes Receivable192
Analysis of Current Tax Levy193
Assessed Value and Estimated Actual Value of All Taxable Property194
Direct and Overlapping Property Tax Rates196
Principal Property Taxpayers197
Property Tax Levies and Collections199
III. Debt Capacity201
Ratios of Outstanding Debt by Type201
Ratio of Net General Obligation Bonded Debt203
Computation of Direct and Overlapping Bonded Debt204
Legal Debt Margin Information205
Pledged Revenue Coverage207
IV. Demographic and Economic Information209
Demographic and Economic Statistics209
Principal Employers210
Full-Time Equivalent City Government Employees by Function/Program212
V. Operating Information213
Operating Indicators by Function213
Capital Asset Statistics by Function215
Single Audit Section217
Report of Independent Auditors on Internal Control Over Financial Reporting and On Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards218
Report of Independent Auditors on Compliance For Each Major Federal Program and Internal Control Over Compliance In Accordance with OMB Uniform Guidance and the State Single Audit Implementation Act220
Report of Independent Auditors on Compliance For Each Major State Program and Internal Control Over Compliance In Accordance with Uniform Guidance and the State Single Audit Implementation Act223
Schedule of Findings and Questioned Costs226
Corrective Action Plan229
Summary Schedule of Prior Year Findings230
Schedule of Expenditures of Federal Awards231
Schedule of Expenditures of State Awards234
Notes to the Schedule of Expenditures of Federal and State Awards235

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