2023 Annual Comprehensive Report

B. Business-Type Activities Business-type activities increased the City of Greensboro’s net position by $21.7 million, largely attributable to Water Resources charges for services, sales tax revenue, and investment income. The General Fund continued to support the coliseum, solid waste operations, and parking facilities; water and sewer revenues were sufficient to cover operations. 1) Enterprise Funds There are six separate and distinct operations accounted for in the Enterprise Funds: the Water Resources Utility Operations, Stormwater Management Services, Coliseum Complex, Solid Waste Management, Greensboro Transit Advisory Commission and Parking Facilities (Other Non-Major Fund). Depreciation is computed on all depreciable plant and equipment and is reflected as an operating expense. Depreciation expense also includes amortization of software and licenses and other intangible assets, such as water rights. The following schedule reflects the change in net position before and after depreciation/amortization for each of the enterprises compared to the preceding year. Table B-1 Change in Net Position– Business-Type Activities (In thousands of dollars )

Change in Net Position

Change in Net Position

Before Depreciation/Amortization*

After Depreciation/Amortization*

Enterprise Activities Water Resources

2023

2022

2023

2022

$

56,253

$

53,595

$

22,052 $

20,348

Stormwater Management

397

1,490

(1,580) (3,178) (5,331)

(469)

Coliseum

3,209

14,453

8,364

Solid Waste Management Greensboro Transit Advisory Commission

(4,845)

(19,508)

(19,980)

11,132

10,524

7,250 1,702

6,985

Parking Facilities

2,878

(731)

(1,858) 13,390

Total

$

69,024

$

59,823

$

20,915 $

*Excludes the effect of Internal Service Fund chargebacks. Major activities and/or changes in the Enterprise Fund operations are presented in the following comments. 2) Water Resources Fund Charges for current services totaled $137,823,798 compared to $129,175,386 for the preceding year, an increase of 6.7%. Operating expenses (excluding depreciation) increased by 19.6% and totaled $81,863,234 as compared to $68,420,760 for the preceding year. On July 1, 2022, water and sewer rates for average residential customers increased 8.5% for customers both inside and

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