2025 Annual Comprehensive Report

Negative cash and investment amounts in the following funds are reflected in the financial statements as “Accounts Payable” to denote the amount owed to the City’s internal “pool” that aggregates cash/investments Citywide.

Workforce Investment Act Fund State and Federal Grants Fund

$

1,223,619 619,010

The Greensboro ABC Board, a discretely presented component unit, held deposits in Pooling Method banks only. At June 30, 2025, the ABC Board’s carrying amount of deposits was $3,260,007 and the bank balance was $4,478,542. All of the bank balances were covered by federal depository insurance, as well. The Greensboro Housing Development Partnership, a discretely presented component unit, had a bank balance at June 30, 2025 of $48,784. All of the bank balance was covered by federal depository insurance. The Greensboro Redevelopment Commission, a discretely presented component unit, had a bank balance at June 30, 2025 of $31,174. All of the bank balance was covered by federal depository insurance. 2. Investments North Carolina General Statute 159-30 (c) authorizes the City to invest in obligations of the U. S. Treasury and obligations of certain federal agencies; prime quality commercial paper and bankers’ acceptances bearing the highest rating of the nationally recognized statistical rating services (NRSRS); repurchase agreements with respect to either direct obligations of the United States or obligations of which the principal and interest are guaranteed by the United States; and SEC-registered mutual funds certified by the N.C. Local Government Commission. The City typically holds investments to maturity in order to realize full book value and interest earnings. As required for periods beginning after June 15, 1997 by GASB Statement No. 31 , Accounting and Financial Reporting for Certain Investments and for External Investment Pools, the City’s investments with a maturity of more than one year at acquisition and non-money market investments are carried at fair value determined annually by quoted market prices, using the specific identification method. Money market instruments that have a remaining maturity at time of purchase of one year or less are reported at amortized cost. The securities of the NCCMT Government Portfolio, a SEC-registered (2a-7) money market mutual fund, are valued at fair value, which is the NCCMT’s share price. Ownership interest of the State Treasurer’s Short Term Investment Fund (STIF) is determined on a fair valuation basis as of fiscal year end in accordance with the STIF operating procedures. Valuation of the underlying assets is performed by the custodian. General Statute 159-30.1 allows the City to establish an Other Postemployment Benefit (OPEB) Trust managed by the staff of the Department of the State Treasurer and operated in accordance with state laws and regulations. It is not registered with the SEC and G.S. 159-30(g) allows the City to make contributions to the Trust. The State Treasurer in his discretion may invest the proceeds in equities of certain publicly held companies and long or short-term fixed income investments as detailed in G.S. 147-69.2 (1-6), (6c) and (8). Funds submitted are managed in three different sub-funds, the STIF consisting of short to intermediate treasuries, agencies and corporate issues authorized by G.S. 147-69.1, the Bond Index Fund (BIF) and Equity Index Fund (EIF) authorized under G.S. 147-69.2(b)(8). General Statute 159-30.2 allows the City to establish a Law Enforcement Special Separation Allowance Trust and G.S. 147-69.2 (65) allows the State Treasurer to invest deposits by the City into this Trust in the same manner as the OPEB Trust in the same three sub-funds outlined above. Interest income earned in the Capital Projects funds, amounting to $4,761,286 was assigned to the Debt Service Fund.

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