Truth in Accounting

Greensboro, NC

TIA Data

2019 Financial State of Greensboro (Released 1/26/2021)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

 
Greensboro's Taxpayer Burden™ is -$1,000, and it received a "C" from TIA.
Greensboro is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.
Greensboro only has $390.2 million of assets available to pay bills totaling $478 million.
Because Greensboro doesn't have enough money to pay its bills, it has a $87.8 million financial hole. To erase this shortfall, each Greensboro taxpayer would have to send $1,000 to the city.
Greensboro's reported net position is inflated by $26.7 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.
The city's financial report was released 123 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2018 Financial State of Greensboro

2017 Financial State of Greensboro

2016 Financial State of Greensboro

Other Resources

Greensboro Comprehensive Annual Financial Reports

Publishing Entity: Financial and Administrative Services

IN THE NEWS
Majority of U.S. cities ill-prepared for COVID-19 pandemic

JANUARY 26, 2021

The 2021 Financial State of the Cities (FSOC) surveys the fiscal health of the 75 largest municipalities in the United States. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.

VIEW LESS