COG Comprehensive Annual Financial Report

Enterprise Funds

Water Resources Fund The Water Resources Fund provides services to over 105,000 customers and is designed to be self-supporting. Revenues are sufficient to meet the operating expenses and to provide funds for water and sewer line construction. These revenues are also used to provide for principal and interest on all water and sewer debt. Continued expansion of the water and sewer system has been necessary to provide for the increase in residential, commercial and industrial requirements. Combined Enterprise System Revenue bonds outstanding are recorded in this fund. Stormwater Management Fund This fund was established to account for the federally mandated program of stormwater system management, which is supported by a citywide stormwater fee. Coliseum Fund This fund administers monies necessary for the operation of the complex responsible for bringing top artists in the entertainment, educational and sports fields to Greensboro. The Coliseum Complex consists of an arena with a seating capacity of 22,000, the 300-seat Odeon Theatre, the 167,000-square foot Special Events Center that includes three exhibition halls, a 4,500-seat mini-arena and eight meeting rooms, the 38,000 square-foot Swarm Fieldhouse with a seating capacity of 2,200, the ACC Hall of Champions, the Terrace Banquet Facility, the White Oak Amphitheatre with a seating capacity of over 7,000, and the state-of-the-art Greensboro Aquatic Center with a seating capacity of 2,500. A 3,000-seat Performing Arts Center is under construction in downtown Greensboro with a projected opening of March, 2020. This venue replaces the Auditorium at the Coliseum Complex which was demolished in 2015. Solid Waste Management Fund This fund accounts for waste disposal and recycling operations of the City, as well as solid waste landfill improvements. Special Obligation Bonds outstanding are recorded in this fund. Parking Facilities Fund This fund accounts for revenues and expenses related to City-owned parking garages, lots and curbside parking spaces. The City currently operates four parking garages providing over 2,800 parking spaces in the Center City area.

-114-