61 / 373
2u
Construction in progress for governmental-type and business-type capital assets totaled $17,032,139 and
$90,094,469 respectively as of June 30, 2016 compared to $11,448,650 and $44,941,551 last year. During
the current fiscal year the War Memorial Auditorium, which held its last concert event in September
2014, was demolished with plans to install premium parking at this site adjacent to the Coliseum arena.
All auditorium functions will eventually be held in the new performing arts center complex, currently
underway in downtown Greensboro. There are significant wastewater utility facility improvements in
progress.
The City adopted the FY 2017-2026 Capital Improvements Program (CIP) totaling $1,626,845,931 for
projects as outlined below:
Table C-2
CIP Expenditures – 10 Year Plan
CIP Expenditure Category by Service Area
% of Total CIP
Infrastructure
86.53%
Community Services
10.41%
Public Safety
3.06%
100.0%
Table C-3
CIP Funding Sources – 10 Year Plan
CIP Funding Source
% of Total CIP
Authorized Bonds
8.65%
Revenue Bonds
15.89%
Enterprise Funds
20.19%
Grants/Other
18.59%
Unauthorized Bonds
36.68%
100.0%
Additional information on the City’s capital assets can be found in Note I.D.6 and IV.C of this report.
B. Long-Term Debt
As of June 30, 2016, the City had total bonded debt outstanding (at par) of $445,877,026 with
$168,973,007 backed by the full faith, credit and taxing power of the City, $30,847,318 backed by
Hotel/Motel occupancy tax of the City, $243,126,701 backed by a revenue pledge of the Combined
Enterprise System (currently Water Resources utility system) and $2,930,000 backed by a pledge of
certain local sales tax revenues.