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2g
C. Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in
the government-wide and fund financial statements. The notes to the financial statements can be found
starting on page 38a of this report.
D. Required Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the City of Greensboro’s progress in funding its
obligation to provide pension benefits and other post-employment benefits to certain of its retirees.
Required supplementary information can be found on pages 39-41 of this report.
E.
Other Supplementary Information
The combining statements referred to earlier in connection with nonmajor governmental funds and
Internal Service Funds are presented immediately following the required supplementary information on
pensions and other post-employment benefits. Combining and individual fund statements and schedules
can be found starting on page 42 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net position may serve over time as a useful indicator of a government’s financial position. In the case of
the City of Greensboro, assets exceeded liabilities by $1,053,041,228 at the close of June 30, 2016
compared to $1,024,062,607 before restatement in the previous year. The net position for the City as a
whole increased 2.8% at June 30, 2016 or net $29 million of which approximately $24 million of the gain
is attributable to water resources activities.
The largest portion of the City of Greensboro’s net position $770,182,032 (73.1%) represents its
investment in capital assets (e.g. land, building, machinery, and equipment) less any related debt used to
acquire those assets that are still outstanding. The resources needed to repay the debt must be provided
from sources other than capital assets, since they cannot be used to liquidate the liabilities.
An additional portion of the City of Greensboro’s net position $165,559,070 (15.7%), represents
resources that are subject to enabling legislation or external restrictions on how they may be used.
Unrestricted net position, the residual amount of assets that can be used without constraints established by
debt covenants, enabling legislation, or other legal requirements changed from $122,277,043 at June 30,
2015 to $117,300,126 (11.2%), down approximately $5 million at the end of this year, with the decrease
largely attributable to the increase in net position for capital projects and highway improvements. The
City’s overall unrestricted cash levels increased by approximately $8.2 million as well to approximately
$209.5 million.
However, it should be noted that of the total reported “unrestricted” amount, only
approximately $24.8 million is available and unobligated in the General Fund to provide working capital
to finance day-to-day governmental activities and fund unforeseen circumstances in the future.