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Greensboro North Carolina online Form 1094-B: What You Should Know
Financial Statements and Financial Statement Information for the fiscal years 2023 and 2023 The following information applies to financial statements. A. Financial Statements B. Summary Financial Statement Information by Category Financial statements for the fiscal year 2023 were prepared as if the City had been operating through July 1, 2017. All amounts are based upon the annual estimates of the General Fund. However, the City will be operating through the July 1, 2017, fiscal year. The City anticipates a balance sheet deficit for 2017, which would be funded with proceeds from bonds issued for operating expenses under the City's general obligation bond program. The balance sheet will be reviewed for improvement of future year projections and, if needed, a new capital development plan will be evaluated based on the capital reserve plans. City officials believe the City has a long-standing surplus, and they plan to use the surplus for new capital projects, for debt service and for general fund purposes. This surplus will not be used for capital expenses.
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