CAFR 2017

government-wide financial statements because the City cannot use these assets to finance its operations. The basic fiduciary fund financial statements can be found on pages 33-34 of this report.

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 other than pensions to certain of its retirees. Required supplementary information can be found on pages 39-46 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 47 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 and deferred outflows exceeded liabilities and deferred inflows by $1,064,109,026 at the close of June 30, 2017 compared to $1,053,041,228 before restatement in the previous year. The net position for the City as a whole increased 1.1% at June 30, 2017 or net $11.1 million of which approximately $33.2 million of the gain is attributable to water resources activities, coliseum events, and approximately $15 million from the donation of Lebauer Park and Center City Park, offset by a restatement due to the implementation of GASB standards for setup of a new Pension Trust Fund. The largest portion of the City of Greensboro’s net position $815,199,471 (76.6%) 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 $169,124,743 (15.9%), 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 $117,300,126 at June 30, 2016 to $79,784,812 (7.5%), down approximately $37.5 million at the end of this year, with the decrease largely attributable to the recording of obligations for other postemployment benefits, law enforcement pension benefits and increased pension obligations for general employees. The City’s overall unrestricted cash levels increased by approximately $3.1 million as well to approximately $212.6 million. However, it should be noted that of the total reported “unrestricted” amount, only approximately $25.8 million is

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