2025 Annual Comprehensive Report

Fines and forfeitures amounted to $1,226,821 as compared to the previous year's collection of $1,257,746, a decrease of 2.5% compared to last year. The decrease was primarily due to a reduction in code violation fines FY 2025. Charges for current services amounted to $36,720,397 as compared to the previous year's revenue of $32,211,852 an increase of 14.0%. Cash Management The City's investment policy is to minimize credit and market risks while maintaining a competitive yield on its portfolio. Accordingly, deposits were either insured by federal depository insurance or collateralized. All collateral on deposits was held either by the City or its agent. All investments held by the City during the year and at June 30, 2025 are classified in various levels of fair value hierarchy as defined by the Governmental Accounting Standards Board. The City's cash management program provided the City with interest earnings excluding fair value adjustments totaling $25,499,523 for the fiscal year ended June 30, 2025 as compared to $22,076,133 in the prior year. Cash balances are analyzed daily to forecast the amount of funds required and amounts available for investment. The average amount of funds invested per month totaled $538,021,242 during the year. The City's average yield on investments for the year was 4.74%, up from 4.12% in the prior year. Interest earnings were the equivalent of nearly 6.42 cents on the tax rate for FY 2025 compared to 5.68 cents last year. B. Proprietary Funds Proprietary Funds provide the same type of information found in the government-wide financial statements but in more detail. Other factors concerning the finances of the proprietary funds have already been addressed in the discussion of the City of Greensboro’s business-type activities. General Fund Budgetary Highlights The General Fund budget for FY 2025 was adopted at $421,896,565 (excluding carry-forward encumbrances) and represents an increase of approximately 4.5% compared to the adopted FY 2024 budget. Encumbrances of $38,143,239 versus $13,923,536 in prior year were carried forward from FY 2024 commitments. There were no significant variances from the original and final amended budgets for FY 2025 As of June 30, 2025, the City had collected $415.9 million or 100.5% of its budgeted General Fund revenues and had incurred $429.7 million or 98.5% of its budgeted expenditures. Significant differences between actual results and the final amended budget are highlighted below: • Overall General Fund revenues were more than the final amended budget (excluding appropriated fund balance) by approximately $2.1 million primarily due to increased electric franchise tax receipts than expected, offset by modest declines in other revenues. • Actual expenditures compared to final budget were less by $6.4 million or approximately 1.5%, noting approximately $1.4 million savings in transportation, $3.5 million in field operations relating to solid waste collections, and approximately $3.6 million savings in culture and recreation.

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