CAFR 2016

At June 30, 2016, net position restricted by enabling legislation includes:

Water Resources Capital Reserve Solid Waste Capital Reserve Parking Facilities Capital Reserve

$ $ $

7,914,239 1,138,058

643,026

Unrestricted Net Position represents net position that does not meet the definitions of “Restricted” or “Net Investment in Capital Assets”. Unrestricted net position may be assigned or committed for management’s or the Board’s specific internal purposes. Unrestricted net position does not equate to net position available for appropriation which is calculated using statutory guidelines. 11. Pensions For purposes of measuring the net pension asset (liability), deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Local Governmental Employees’ Retirement System (LGERS) and additions to/deductions from LGERS’ fiduciary net position have been determined on the same basis as they are reported by LGERS. For this purpose, plan member contributions are recognized in the period in which the contributions are due. The City of Greensboro’s employer contributions are recognized when due and the City of Greensboro has a legal requirement to provide the contributions. Benefits and refunds are recognized when due and payable in accordance with the terms of LGERS. Investments are reported at fair value. 12. Accounting Changes and Reclassifications In accordance with Governmental Accounting Standards Board (GASB) Statement 73, the City reclassified assets of the Law Enforcement Officers’ Special Separation Allowance Trust fund to the General Fund. As a result, fund balance for the General Fund increased by $6,379,625 and net position for governmental activities increased by $408,311. II. Reconciliation of Government-Wide and Fund Financial Statements A. Explanation of certain differences between the governmental fund balance sheet and the government-wide statement of net position. The governmental fund balance sheet includes reconciliation between fund balance – total governmental funds and net position – governmental activities as reported in the government – wide statement of net position. One element of that reconciliation explains that “long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported in the funds.” The details of this $226,709,323 difference (including Premium of $5,751,153 and unamortized bond refunding charges of $226,280) are as follows:

Bonds and Notes Payable

$

171,060,741 6,262,719 26,401,866 4,942,297 11,173,432 1,629,433 5,238,835 226,709,323

Certificates of Participation Payable

Limited Obligation Bonds and Notes Payable

Lease Purchase and Other Financing Agreements Payable

Compensated Absences Payable

Accrued Interest Payable

OPEB Liability

Combined Adjustment

$

B. Explanation of certain differences between the governmental fund statement of revenues, expenditures, and change in fund balances and the government-wide statement of activities. The governmental fund statement of revenues, expenditures, and changes in fund balances include reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that “Governmental funds report capital

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