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Special Revenue Funds
State Highway Allocation Fund
This fund was established to account for Powell Bill Funds which are derived from a one and three-fourths cents per
gallon fuel tax. The State of North Carolina collects these monies and returns a proportionate share to local
governments based on local street mileage and population. Expenditures and transfers from this fund are restricted
to specific highway construction and maintenance costs.
Cemetery Fund
The Cemetery Fund is responsible for the operation and maintenance of three cemeteries. The cemeteries are
perpetually endowed by the Perpetual Care Fund which receives one-fourth of all cemetery lot sales. All interest
earned by the Perpetual Care Fund is restricted for operations of the Cemetery Fund.
Hotel/Motel Occupancy Tax Fund
This fund was established to account for a 3% room occupancy tax levied on hotels and motels located within the
City limits. This tax revenue is dedicated for debt service to finance improvements at the Greensboro War
Memorial Coliseum Complex.
Economic Development Fund
The Economic Development Fund was established to support three programs within the City. The Workforce
Development Adult and Youth Programs subsidized work experience will assist with paid internships and technical
education with hopes of citizens being hired for permanent positions. The Assistance Marketing and Support, as
well as the Small Business Loan Pool, aids businesses with advertising and expansion in order to enhance Economic
Development within the City of Greensboro. These efforts are funded with a dedicated tax rate of 0.50 cents.
Special Tax Districts Fund
This fund was established to account for a special tax on property in the College Hill and Charles B. Aycock
Historic Districts, as authorized by voter referendum, and a Business Improvement District in downtown
Greensboro.
Housing Partnership Revolving Fund
The Housing Partnership Revolving Fund is supported by 0.69 cents of the property tax rate. This revenue provides
resources to fund low and moderate income housing initiatives approved by City Council, including grant/loan
programs, construction/renovation projects, and cooperative efforts with private and not-for-profit organizations.
Community Development Fund
The purpose of the Community Development Fund is to account for projects financed primarily with Community
Development Block Grant funds which are used for revitalization of low and moderate income areas.
HOME Program Fund
The purpose of the HOME Program Fund is to account for projects financed with Housing and Urban Development
funds which are used for revitalization of low and moderate income areas.