CAFR 2017

The City's Water Resources Department has been named the 2015 recipient of the NC American Water Works Association-Water Environment Federation’s (NC AWWA-WEA) Large Utility Disaster Preparedness Award. The state-wide recognition is presented to utilities whose advanced disaster preparedness initiatives prepare for and respond to the effects of natural and man-made disasters, and acts of aggression, as well as outline how to recover from and mitigate those effects. The Greensboro Historical Museum received a national award from the American Association for State and Local History (AASLH) for the exhibition Warnersville: Our Home, Our Neighborhood, Our Stories. The Leadership in History Award is the most prestigious form of recognition for achievement in the preservation and interpretation of state and local history. Greensboro's Purchasing Division, a section of the Financial and Administrative Services Department, has received the Sustained Professional Purchasing Award (SPPA) for the tenth consecutive year, from 2007-16. The award is presented by the Carolinas Association of Governmental Purchasing to agencies having demonstrated overall excellence in a variety of purchasing standards including staff education, technology integration, product innovation, vendor relations, and exceptional stewardship of taxpayer funds. The award exemplifies the Purchasing Division's commitment to its profession and the residents it serves.

AWARDS AND ACKNOWLEDGMENT The City has participated in the Government Finance Officers Association of the United States and Canada (GFOA) Certificate of Achievement Program since 1975. GFOA recognizes governmental units that issue their comprehensive annual financial reports substantially in conformity with the standards of the Governmental Accounting Standards Board. The City has received favorable recognition for its comprehensive annual financial report for forty-two consecutive years, (1975 through 2016). Valid for a period of one year, we believe our current report continues to conform to Certificate of Achievement Program requirements, as an easily readable and efficiently organized CAFR, and we are submitting it to GFOA to determine its eligibility for another certificate.

To conclude, a review of the financial statements of the City will indicate a sound financial position. The financial outlook for FY 2017-18 is stable, with moderate revenue growth forecasted and continued cost-saving measures. Present management efforts in long-range strategic and comprehensive planning should enable the City to generate adequate resources to meet future services demand levels, afford a stable financial position, protect the City's credit ratings, and maintain realistic tax burdens on the public. City staff is preparing to meet the challenges of the twenty-first century to exceed the expectations of citizens for service delivery. The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the Administration, Financial Reporting, Treasury and Accounting Divisions of the Financial and Administrative Services Department. We would like to express our appreciation to all personnel who assisted and contributed to the preparation of this report. We would also like to thank the members of the City Council for their interest and support in planning and conducting the financial operations of the City in a responsible

and progressive manner. Respectfully submitted, Jim Westmoreland City Manager Richard L. Lusk Finance Director

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