2025 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 ReportingXIX
Organizational ChartXX
City OfficialsXXI
Financial Section1a
Report of the Independent Auditor1a
Management's Discussion and 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 Funds10
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 Net Position - Proprietary Funds22
Reconciliation of the Statement of Net Position of Proprietary Funds to the Statement of Net Position26
Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds27
Reconciliation of the Statement of Revenues, Expenses, and Changes in Net Position of Proprietary Funds to the Statement of Activities29
Statement of Cash Flows - Proprietary Funds30
Statement of Fiduciary Net Position - Fiduciary Funds34
Statement of Changes in Fiduciary Net Position - Fiduciary Funds35
Statement of Net Position - Component Units36
Statement of Activities - Component Units37
III. Notes to the Financial Statements39a
Required Supplementary Information40
Law Enforcement Officers’ Special Separation Allowance (LEOSSA) Pension Benefit Trust41
Schedule of Changes in Net Pension Liability and Related Ratios41
Schedule of Employer Contributions43
Schedule of Investment Returns45
Other Postemployment Benefit (OPEB) Trust47
Schedule of Changes in Net OPEB Liability and Related Ratios47
Schedule of Employer Contributions49
Schedule of Investment Returns51
Local Governmental Employees' Retirement System53
Employer's Proportionate Share of Net Pension Liability (Asset) and Employer Contributions53
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 and Water Resources Capital Assets73
Schedules of Revenues and Expenses - 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 Grants86
State and Federal Grants (ARRA)90
Emergency Rental Assistance - Guilford County Fund91
Opioid Settlement Fund92
Opioid Settlement Fund - Non MOA93
Emergency Telephone System94
Debt Service Fund95
Capital Projects Funds97
Street and Sidewalk98
State Highway Allocation99
General Capital Improvements100
General Capital Improvements II101
Capital Improvements Bond Fund - Series 2024102
Series 2025 Limited Obligation Bonds103
Street Improvements Bond - Series 2010104
Transportation Bond - Series 2016105
Parks & Recreation Bond - Series 2016106
Housing Bond- Series 2016107
Community & Economic Development Bond - Series 2016108
Fire Station Bond - Series 2019109
Transportation Bond Fund - Series 2022110
Parks & Recreation Bond - Series 2022111
Fire Station Bond - Series 2022112
Law Enforcement Bond Fund - Series 2022113
Housing Bond - Series 2022114
Equipment Services Limited Obligation Bond Fund - Series 2024115
Perpetual Care Fund116
Enterprise Funds117
Schedules of Revenues, Expenses, and Changes in Fund Balance-Budget and Actual (Non-GAAP)118
Water Resources119
Water Resources Bond - Series 2014121
Water Resources Bond Fund - Series 2018122
Water Resources Bond Fund - Series 2022123
Water Resources Bond Fund - Series 2024124
Water Resources Capital Improvement125
Water Resources Extension Project126
Stormwater Management127
Stormwater Capital Improvement129
Coliseum130
Performing Arts Fund132
Performing Arts Center Capital Project134
Coliseum Bond Fund - Series 2026135
Coliseum Capital Improvement Bond136
Coliseum Capital Improvement137
Tanger Center Capital Improvement Fund138
Solid Waste Management139
Solid Waste Capital Improvement141
Greensboro Transit Advisory Commission142
Greensboro Transit Advisory Commission Grant Fund144
Parking Facilities145
Parking Facilities Capital Project147
Parking Facilities Bond148
Internal Service Funds149
Combining Statement of Net Position150
Combining Statement of Revenues, Expenses and Changes in Net Position152
Combining Statement of Cash Flows154
Schedule of Changes in Long-Term Debt156
Schedules of Revenues, Expenses, and Changes in Fund Balance-Budget and Actual (Non-GAAP)157
Equipment Services158
Technical Services160
Technical Services Capital Project162
Information Systems163
Graphic Services165
Guilford Metro Communications167
Employee Risk Retention169
General Risk Retention171
Capital Leasing173
Fiduciary Funds175
Statement of Fiduciary Net Position- Fiduciary Funds176
Statement of Changes in Fiduciary Net Position- Fiduciary Funds177
General Capital and Debt Schedule178
Schedule of Long Term Debts178
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. Demgraphic 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 Plan231
Summary Schedule of Prior Year Findings234
Schedule of Expenditures of Federal Awards235
Schedule of Expenditures of State Awards238
Notes to the Schedule of Expenditures of Federal and State Awards239

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