2025 Annual Comprehensive Report

Valuation Measurement Method

Weighted Average Maturity (Year)

Investment Type

Reported/Fair Value

U.S. Government Agencies U.S. Government Treasuries

Fair Value - Level 2 Fair Value - Level 2 Amortized Cost Fair Value - Level 2 Fair Value - Level 1 Amortized Cost Fair Value - Level 2 Fair Value - Level 1 Fair Value - Level 1 Amortized Cost

122,184,840 195,578,050

$

0.51400 0.93598 0.00001 0.01985 0.04516 0.00001 0.00417 0.01287 0.00102 0.00001

OPEB - STIF OPEB -BIF OPEB - EIF

10,155

13,607,269 30,960,019

LEOSSA - STIF LEOSSA - BIF LEOSSA - EIF

9,811

2,859,117 8,826,433

NCCMT Government Portfolio

255,997,557

M&F Bank

2,035,742

US Bank Trust Account: U.S. Government Agencies

Fair Value - Level 2

53,444,128 685,513,121

0.07795

Total Fair Value

$

Portfolio Weighted Average Maturity

0.52042

All investments are measured using the market approach: using prices and other relevant information generated by market transactions involving identical or comparable assets or a group of assets. Level of fair value hierarchy: Level 1: Financial instruments are valued using directly observable, quoted prices (unadjusted) in active markets for identical assets. Level 2: Financial instruments are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’ benchmark quoted prices. Interest Rate Risk In accordance with the formal approved City of Greensboro’s Charter, Article III, Section 4.71, the Investment Manager (Assistant Treasurer) prepares a memo describing investment transactions in detail as they are purchased. This memo is sent to the Mayor, the City Manager and the Finance Director (Treasurer) for signature approval and then returned to the Investment Manager. Although the investment policy has not been formally approved by the City Council, the City has an investment policy guideline, an internally approved Finance Department document that follows North Carolina General Statute 159-30. As a means of limiting the City’s exposure to declines in fair values from rising interest rates, the City limits the weighted average maturity of its investments to less than 2.0 years. Also, the City purchases securities in a structured ladder with stated maturity dates to limit interest rate risk. Credit Risk North Carolina General Statute 159-30 limits investments in U.S. Governmental Agencies and commercial paper to those with top ratings issued by NRSRS. The City has no formal investment policy regarding credit risk, however in practice, it follows NCGS 159-30, and in effect the City limits its investment types to those with top ratings issued by NRSRS. As of June 30, 2025, the City had investments in the NCCMT Government Portfolio, which is rated AAAm by Standard and Poor’s, and in U. S. Government Agencies, all of which were rated AAA by Standard and Poor’s. The State Treasurer’s STIF is unrated and authorized under NC General Statute 147-69.1. The State Treasurer’s STIF is invested in highly liquid fixed income securities consisting primarily of short to intermediate term treasuries, agencies, and money market instruments. The BIF is unrated and authorized under NC General Statute 147-69.1 and 147-69.2. The State Treasurer’s BIF is invested in high quality debt securities eligible under G.S. 147-69.2(b)(1)-(6). Custodial Credit Risk For an investment, the custodial risk is the risk that in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The City

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