2023 Annual Comprehensive Report

The City’s contributions for the year ended June 30, 2023 were calculated using a covered payroll (base salary) in the amount of $43,555,720. The City’s total payroll was $211,110,535. Total contributions were $4,697,632, which consisted of $2,117,786 from the City and $2,519,846 from the law enforcement officers. The City’s required contributions and the officer’s voluntary contributions represented 5.0% and 5.79% of the covered payroll amount, respectively. The Supplemental Retirement Income Plan for Law Enforcement Officers is included in the Annual Comprehensive Financial Report for the State of North Carolina. The State’s Annual Comprehensive Financial Report includes the pension trust fund financial statements for the Internal Revenue Code Section 401(k) plan that includes the Supplemental Retirement Income Plan for Law Enforcement Officers. That report may be obtained by writing to the Office of the State Controller, 1410 Mail Service Center, Raleigh, North Carolina 27699-1410, or by calling (919) 981-5454. 4. Fiduciary Fund Financial Statements The following are financial statements for the City of Greensboro’s Law Enforcement Officers’ Special Separation Allowance Trust Fund and Other Postemployment Benefit Trust Fund included in Exhibits A-14 and A-15 at June 30, 2023 on pages 35 and 36.

Other Postemployment Benefit (OPEB) Trust

LEOSSA Pension Benefit Trust

Total

Assets Cash and Cash Equivalents/Investments Demand Deposits Mutual Funds: NC Short Term Investment Fund

$

5,000

$

$

5,000

8,992

8,550

17,542

NC Equity Index Fund NC Bond Investment Fund

6,334,908 2,627,131

22,223,768 12,010,796

28,558,676 14,637,927

Miscellaneous Receivable

4

12

16

Total Assets

8,976,035

34,243,126

43,219,161

LIABILITIES Accounts Payable

4

12

16

Net Position Restricted for Pension and Benefits

$

8,976,031

$

34,243,114

$

43,219,145

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