2025 Annual Comprehensive Report

On August 7, 2024, the City issued $40,580,000 in Limited Obligation Bonds Series 2024. The proceeds of these bonds are being for the costs of a new fleet servicing garage, various projects of the City, and fees and expenses incurred in connection with the sale and issuance of these bonds. On February 25, 2025, the City issued $53,920,000 in taxable ($10,000,000 Series 2025A) and nontaxable ($43,920,000 Series 2025B) General Obligation Bonds. The Series 2025A are Housing Bonds and the Series 2025B are Public Improvement and Refunding Bonds. On March 27, 2025, the City issued $21,205,000 in taxable ($2,550,000 Series 2025A) and nontaxable (18,655,000 Series 2025B) Limited Obligation Bonds. The proceeds of these bonds are for the purpose of providing funds, together with any other available funds, to pay the costs of a new fire station, demolishing the City’s existing Bellemeade Parking Deck, acquiring land for future City use, acquiring and installing radio communication equipment for various City departments, and the fees and expenses incurred in connection with the sale and issuance of these bonds. The City of Greensboro’s proposed ten-year Capital Improvements Program (CIP) includes approximately $2.8 billion for projects that will be undertaken during FY 2026-2035 and outlines a future financing plan to maintain the City’s current infrastructure and develop new facilities where needed to help achieve the City Council’s strategic service priorities. Approximately 80% of the CIP relates to infrastructure service area projects. The service area consists of Engineering & Inspections, Solid Waste & Recycling, Planning, Transportation, and Water Resources. Water Resources accounts for approximately $1.8 billion or 80% of the Infrastructure Service Area. Transportation capital expenditures represents approximately $313 million or 14% of the Infrastructure Service Area. Additional amounts are planned for Parks and Recreation, Neighborhood Development and Fire Department projects. While the substantial portion of the CIP is funded by bonds and Enterprise Fund operations, the CIP is also funded by grant revenue, including community contributions, community development efforts, transit and other sources. During the 10-year planning period, grants are projected to be available to support a variety of Transportation projects, including sidewalk construction, greenway projects, road projects, and transit improvements. Total grant funding in the CIP equates to $244 million, approximately 8.7% of the total CIP. Unauthorized bond funding represents $464 million or 16.5% of the current plan. The CIP also includes $140 million categorized as other revenue. For the fiscal year ended June 30, 2025, General Fund revenues were $416.7 million, an increase of $10.9 million over the prior year and approximately 100.7% of amended budget. Strong increases in local option sales tax, current ad valorem taxes, and motor vehicle taxes of $4.9 million, $3.2 million, and $2.0 million respectively, primarily represent the increase in current year General Fund revenues. General Fund expenditures were $429.7 million, an increase of $20.8 million over the prior year, and approximately 98.5% of amended budget and in line with past results. The City of Greensboro’s total budget for the 2025-26 fiscal year has been approved for $831 million. The budget included a property tax rate of 67.25 cents per $100 property value. Water and sewer fees will increase 9.6 percent, while still maintaining one of the lowest water rates compared to other North Carolina cities. C. Additional Awards and Special Recognition In September 2025, Greensboro was selected as one of 16 communities across the country to participate in the Housing Supply Accelerator Challenge , a joint initiative of the National League of Cities (NLC) and the American Planning Association (APA). The program is designed to accelerate the implementation of innovative, proven housing strategies and expand the housing supply in communities across the country. Through this initiative, the City will receive national recognition, engage in virtual workshops, receive tailored technical assistance, and access to best practices, tools, and housing supply experts.

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