CAFR 2017

ongoing interlocal water purchase agreements with neighboring communities, conservation measures, the purchase of a small dam on the Haw River, along with approximately 7.8 million gallons of water per day available to be piped from Randleman, the City has been able to adequately manage its water supply with an annual average production capacity of 48 MGD. 3) Stormwater Management Fund Charges for current services totaled $9,686,669 as compared to $9,591,310 for the preceding year, a slight increase of 1%. Operating expenses (excluding depreciation) increased by 9.4% and totaled $7,409,503 as compared to $6,770,912, the increase is largely attributed to increased personnel and benefit expense and some increased operational expense. The stormwater program monitors and manages the quality and quantity of stormwater runoff and helps protect limited water resources throughout the City. Residential stormwater fees range from $1.50 to $3.90 based on the square footage of impervious property area owned and fund program operations as well as related capital improvement projects. 4) War Memorial Coliseum Fund Charges for current services totaled $23,582,188 as compared to $18,163,472 for the preceding year, an increase of 29.8%. The total number of events in FY 2016-17 increased from 905 to 933. The overall facility attendance increased from 1.1 million to 1.2 million in FY 2017; revenues increased due to large concert events yielding more admission revenue. The Greensboro arena has hosted eleven Men’s ACC Basketball Tournaments from 1995 to 2015, and Greensboro is scheduled to again host in 2020. Along with hosting the Women’s ACC Basketball Tournament from 2000 to 2016, the arena has hosted other NCAA Regional events. Greensboro is widely recognized as the “Tournament Town”. Operating expenses (excluding depreciation) totaled $29,144,279 as compared to $22,915,270 for the preceding year, an increase of 27.2%. The General Fund contributed $2,700,000 toward Coliseum activities this year, $200,000 more than the subsidy last year, mainly for operations. Revenues and expenses for a given year may fluctuate based on the nature of the associated event agreements. 5) Solid Waste Management Fund Charges for current services totaled $12,616,110 as compared to $13,391,867 for the preceding year, a decrease of 5.8%. Operating expenses (excluding depreciation) totaled $13,015,058 as compared to $13,781,455 for the preceding year, a decrease of 5.6% primarily due to reduced refuse transfer station expenses. The decrease in charges for current services is due to the landfill roadway project and the disposal of excavated materials in Phase III of the White Street Landfill that occurred last year. The City entered into a contract with an Apex, North Carolina firm to convert methane gas at the White Street landfill into electricity and to sell it to Duke Energy. This gas is in surplus of the amount that the City currently gives to International Textile Group (ITG) in support of their manufacturing operation and local jobs. Over the 15-year term of the contract, it is estimated that the City will receive approximately $155,000 on average each year for a total estimate of $2.33 million, while continuing to provide ITG with its current supply of the landfill gas. Closure activities of certain landfill cells are also currently in progress. In October 2006, the City completed construction of a solid waste transfer station as an alternative to the White Street Landfill, at an estimated cost of $9 million. The City issued $8.4 million in special obligation bonds in November 2005 associated with this new facility, supported with a pledge of local sales tax revenue. In December 2009, $5.7 million of the remaining 1997 bonds (originally issued at $16 million for landfill expansion and improvements) were refunded. All bonds relating to the original 1997 landfill bond issue were retired as of FY 2012. Debt outstanding associated with the transfer station is $2,250,000 as of June 30, 2017. Debt service

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