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In FY 2017, the Debt Service Fund budget increased from the prior adopted budget to approximately
$23.4 million. The amount of general obligation debt service as a percentage of General Fund
expenditures is projected to be 8.5% in FY 2017, within the City’s target goal of 10%.
Business-Type Activities:
The Water Resources budget increased approximately $.6 million or .5% for the FY 2017 budget as
compared to the previous budget. Transfers of $28.2 million to the Water Resources Capital Reserve
Fund are budgeted to allow for capital expenditure needs in accordance with the long-term Capital
Improvement Plan as well as improve the City’s water and sewer system, including rehabilitation of older
water and sewer lines. Water Resources overall staffing levels are projected to increase by 2 FTEs, one
laboratory specialist and one paralegal to assist with new regulations and water related legal work in order
for the utility to maintain the water and sewer infrastructure within the stated objectives.
Debt service
payments will increase from about $20 million to $23 million, supporting the enterprise’s planned debt
program. Water Resources instituted a rate increase of 4.5% for both customers inside the City and for
customers outside the City on July 1, 2016, which is expected to generate $4.6 million in additional
revenues. The rate increase equates to approximately $1.83 more per month for customers inside the City
and approximately $4.46 more per month for those outside and still positions Greensboro as having the
second lowest water rates among North Carolina cities, (January 2016) with a water bill of 1.18% of the
Median Household Income (MHI). Rates of less than 2% of MHI are considered to be favorable.
Approximately 95% of all of the utility’s customers reside within the City limits.
Requests for Information
This financial report is designed to provide a general overview of the City of Greensboro’s finances and
to demonstrate the City’s accountability for the money it receives. Questions concerning any information
provided in this report or requests for additional information should be addressed to City of Greensboro
Financial and Administrative Services Department, P.O. Box 3136, Greensboro, North Carolina 27402-
3136 or by calling (336) 373-2077, or by visiting our website at www.greensboro-nc.gov.