The Financial Reporting and Treasury Management Divisions manage the cash needs of the City and invest all idle funds in accordance with state laws and regulations. Staff prepare bond offering statements, assist in the issuance of debt, and pay debt service on outstanding obligations. Secondary market disclosures are made to the appropriate regulatory bodies.
The Financial Reporting Division is responsible for coordinating the annual independent audit that is required by the Fiscal Control Act. This act requires each unit of local government in North Carolina have its accounts audited annually by an independent public accountant certified by the Local Government Commission as qualified to audit local government accounts. The audit must be conducted pursuant to a written contract containing the form, terms, and fees for the audit. The Secretary of the Commission must approve this contract before the audit may begin and must approve invoices for the audit fee. Approval of final payment is not given until the audit report is rendered in accordance with the requirements of the contract. All audits must be performed in conformity with generally accepted auditing standards.
The City's independent auditors are RSM US LLP of 230 N. Elm St., Suite 1100, Greensboro and they can be reached at 800-274-3978.
The City of Greensboro maintains the highest credit rating from all three national rating agencies for its general obligation debt.
Staff also oversee administration of the Risk Management Program and prepare projections of budgetary impacts for the City's health, worker's compensation, and general insurances.
Grant assistance is provided to operating departments and reports on grants are prepared, as well as requests for reimbursement of funds.
Long-range financial plans are developed in addition to the City's Comprehensive Annual Financial Report.
The Financial Reporting Division is located in Room 290 on the second floor of the Melvin Municipal Office Building (MMOB), 300 W. Washington St. and the Treasury Management Division is located in Room 12 on the UG floor of MMOB. The mailing address for both divisions is PO Box 3136, Greensboro, NC 27402-3136.