2025 Annual Comprehensive Report

Independent Auditor’s Report

To the Honorable Mayor and Members of the City Council City of Greensboro, North Carolina

Report on the Audit of the Financial Statements

Opinions

We have audited the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information, of the City of Greensboro, North Carolina (the “City”) as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. In our opinion, based on our audit and the reports of the other auditors, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, and the respective changes in financial position and, where applicable, cash flows thereof, and the budgetary comparison statement for the General Fund, for the year then ended in accordance with accounting principles generally accepted in the United States of America. We did not audit the financial statements of the City of Greensboro Board of Alcoholic Beverage Control (the “ABC Board”) and the Greensboro Housing Development Partnership, which represent 93.99%, 89.19%, and 99.38%, respectively, of the assets, net position, and revenues, of the City’s aggregate discretely presented component units as of June 30, 2025. Those statements were audited by other auditors whose reports have been furnished to us, and our opinion, insofar as it relates to the amounts included for the ABC Board and the Greensboro Housing Development Partnership, are based solely on the reports of the other auditors. Furthermore, we did not audit the operations of the First Horizon Coliseum or the Steven Tanger Center for the Performing Arts, the financial activities of which are reported within the City’s Coliseum Enterprise Fund and business-type activities. The First Horizon Coliseum and Steven Tanger Center for the Performing Arts comprise 80%, 68%, and 96%, respectively, of the assets, net position, and revenues of the City’s Coliseum Fund and 9%, 8%, and 19%, respectively, of the assets, net position, and revenues of the City’s business-type activities. Those activities were audited by other auditors whose report has been furnished to us, and our opinions, insofar as it relates to the amounts included for the operations of the First Horizon Coliseum and the Steven Tanger Center for the Performing Arts are based solely on the report of the other auditors.

MAULDIN & JENKINS, PLLC • 4208 SIX FORKS ROAD, SUITE 1000 • RALEIGH, NC 27609 • 833-818-0406 • FAX 803-799-5554 • www.mjcpa.com MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

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