GREENSBORO, N.C. (WGHP) — The North Carolina State Treasurer’s Office is adding the City of Greensboro to a state list used to identify cities that may need financial oversight, prompting the council to hold an emergency meeting.
The City of Greensboro received a notification Wednesday from the state treasurer’s office that it was to be placed on the Unit Assistance List. In a news release, the city described the UAL as a “monitoring tool the state uses to identify local governments that may need additional financial oversight or support.”
Greensboro Mayor Marikay Abuzuaiter called for the emergency meeting Thursday for officials to discuss what this means for the city.
Former Wake Forest University football player Alphonso Smith Jr. dead at 40
Greensboro was added to the list over apparent concerns about the city’s fund balance, which acts as a savings account for the city. The state wants Greensboro to have a higher fund balance and to make sure it does not need to dip into that account for everyday expenses.
Greensboro leaders have been meeting with the state treasurer since 2022 to discuss city finances, and local leaders committed to achieving a 25% fund balance by 2030, according to Greensboro Assistant City Manager Tiffany Olivia. That balance currently sits at 22.9%…