2024 Annual Comprehensive Report

Activity for ABC Board for the year ended June 30, 2024, was as follows:

Beginning Balance

Increases

Decreases Ending Balance

Capital Assets, Non-depreciable: Land

$

5,242,017 $

1,401,150$

$

6,643,167 813,221 7,456,388

Construction in Progress

858,748 6,100,765

829,444 2,230,594

(874,971) (874,971)

Total Capital Assets, Non-depreciable

Capital Assets, Depreciable: Buildings

8,684,203 429,282 2,716,302 530,273 3,703,713 16,063,773 (1,960,567) (141,384) (1,896,485) (526,749) (832,897) (5,358,082)

1,329,677

10,013,880 418,996 3,080,813 521,205 6,683,807 20,718,701 (2,236,816) (172,816) (1,650,004) (521,205) (1,167,048) (5,747,889)

Improvements Other Than Buildings

(10,286) (542,563) (234,597) (796,514) (9,068)

Furniture, Fixtures, Machinery and Equipment

907,074

Lease Hold Improvements Right to Use Lease Assets

3,214,691 2,236,751

Total Capital Assets, Depreciable

Less Accumulated Depreciation/Amortization for: Buildings

(276,249) (31,432) (309,892) (568,748) (1,186,321)

Improvements Other Than Buildings

Furniture, Fixtures, Machinery and Equipment

556,373

Lease Hold Improvements Right to Use Lease Assets

5,544

234,597 556,373

Total Accumulated Depreciation

Total Capital Assets, Depreciable-Net

10,705,691

1,050,430

(240,141)

14,970,812

ABC Board Capital Assets, Net

$ 16,806,456 $

3,281,024 (1,115,112) $ $ 22,427,200

E. Closure and Postclosure Care Cost – White Street Landfill The City owns and operates a regional landfill site located in the northeast portion of the City. State and federal laws require the City to place a final cover on its White Street landfill site and to perform certain maintenance and monitoring functions at the site for thirty years after closure. The City reports a portion of these closure and postclosure care costs as an operating expense in each period based on landfill capacity used as of each June 30. The $47,414,343 reported as landfill closure and postclosure care liability at June 30, 2024 is based on 100% use of the estimated capacity of Phase II and Phase III, Cells 1 and 2. Phase III, Cell 3 is estimated at 61% of capacity. The Solid Waste transfer facility, which opened in 2006, is located in an industrial section of western Greensboro and accepts waste from the City’s solid waste collection services and from private haulers, with waste transported off-site daily to a private site outside of the City. It is expected that White Street Landfill will only be utilized for disposal of construction, demolition debris, yard waste and certain incinerated waste and in the event that the transfer station is not operational. The estimated liability amounts are based on what it would cost to perform all closure and postclosure care in the current year. Actual costs may be higher due to inflation, changes in technology, or changes in regulations. At June 30, 2024, the City had expended $3,876,035 to complete closure of the White Street facility, Phase II and $2,535,980 to begin closure activities at the construction and demolition site located on top of the municipal waste filled space. Starting in FY2023, the City has expended $6,972,524 as of June 30, 2024 for closure of 12.5 acres in Phase III. The balance of closure costs, estimated at $25,201,077 and an estimated $22,213,266 for postclosure care will be funded over the remaining life of the landfill, estimated to be 20 to 25 years.

39t