Year Ended June 30, 2015 COCONINO MOHAVE APACHE NAVAJO YAVAPAI LA PAZ MARICOPA COUNTY GILA GREENLEE PINAL GRAHAM YUMA PIMA COCHISE SANTA CRUZ Board of Supervisors Denny Barney District 1 Steve Chucri District 2 Andrew Kunasek District 3 Clint L. Hickman District 4 Steve Gallardo District 5 Comprehensive Annual Financial Report Maricopa County Phoenix, Arizona For the Fiscal Year July 1, 2014 to June 30, 2015 Prepared By Department of Finance Shelby L. Scharbach, Assistant County Manager – Chief Financial Officer INTRODUCTORY SECTION Table of Contents Listing of Maricopa County Officials Organizational Chart Letter of Transmittal Citizens Audit Advisory Committee Letter Certificate of Achievement for Excellence in Financial Reporting Comprehensive Annual Financial Report Table of Contents For the Fiscal Year Ended June 30, 2015 Introductory Section Page Table of Contents Listing of Maricopa County Officials Organizational Chart Letter of Transmittal Maricopa County Citizens Audit Advisory Committee Letter Certificate of Achievement for Excellence in Financial Reporting i v vi vii xi xii Financial Section Independent Auditors’ Report 1 Management’s Discussion and Analysis 5 Basic Financial Statements Definitions of Government-wide Financial Statements and Listing of Major Funds 19 Government-wide Financial Statements Statement of Net Position Statement of Activities 21 22 Fund Financial Statements Governmental Funds Financial Statements Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balances Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 24 26 28 Proprietary Funds Financial Statements Statement of Net Position Statement of Revenues, Expenses, and Changes in Fund Net Position Statement of Cash Flows 30 31 32 Fiduciary Funds Financial Statements Statement of Fiduciary Net Position Statement of Changes in Fiduciary Net Position 34 35 Basic Financial Statements – Notes 39 Required Supplementary Information Budgetary Comparison Schedules – General Fund and Major Special Revenue Fund General Fund Detention Operations Fund 93 95 Note to Budgetary Comparison Schedules 96 Schedule of the County’s Proportionate Share of Net Pension Liability 97 Schedule of Changes in the County’s Net Pension Liability and Related Ratios 98 i Table of Contents (Continued) For the Fiscal Year Ended June 30, 2015 Page 100 Schedule of County Pension Contributions Notes to Pension Plan Schedules 101 Schedule of Agent OPEB Plans’ Funding Progress 102 Note to Schedule of Agent OPEB Plans’ Funding Progress 103 Modified Approach for Infrastructure Assets 104 Combining and Individual Fund Statements and Schedules Listing of Nonmajor Governmental Funds 107 Governmental Funds Combining Balance Sheet – Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds 114 130 Schedules of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Special Revenue Funds Adult Probation Fees Fund Adult Probation Grants Fund Air Quality Fees Fund Air Quality Grants Fund Animal Control Field Operations Fund Animal Control Grants Fund Animal Control License/Shelter Fund Ballpark Operations Fund Cactus League Operations Fund CDBG Housing Trust Fund Check Enforcement Program Fund Child Support Enhancement Fund Children’s Issues Education Fund Clerk of Court Fill the Gap Fund Clerk of the Court EDMS Fund Clerk of the Court Grants Fund Conciliation Court Fees Fund County Attorney Fill the Gap Fund County Attorney Grants Fund County Attorney RICO Fund Court Document Retrieval Fund Criminal Justice Enhancement Fund Del Webb Fund Diversion Fund Domestic Relations Mediation Education Fund Educational Supplemental Program Fund Elections Grants Fund Emancipation Administrative Costs Fund Emergency Management Fund Environmental Services Environmental Health Fund ii 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 Table of Contents (Continued) For the Fiscal Year Ended June 30, 2015 Page Special Revenue Funds (Continued) Expedited Child Support Fund Flood Control Fund Flood Control Grants Fund Human Services Grants Fund Inmate Health Services Fund Inmate Services Fund Judicial Enhancement Fund Justice Court Judicial Enhancement Fund Justice Courts Photo Enforcement Fund Justice Courts Special Revenue Fund Juvenile Probation Diversion Fund Juvenile Probation Grants Fund Juvenile Probation Special Fees Fund Juvenile Restitution Fund Lake Pleasant Recreation Services Fund Law Library Fees Fund Legal Defender Fill the Gap Fund Library District Fund Library District Grants Fund Medical Examiner Grants Fund Non-Departmental Grants Fund Officer Safety Equipment Fund Palo Verde Fund Parks and Recreation Grants Fund Parks Donations Fund Parks Enhancement Fund Parks Souvenir Fund Parks Spur Cross Ranch Conservation Fund Planning and Development Fees Fund Probate Fees Fund Public Defender Fill the Gap Fund Public Defender Grants Fund Public Defender Training Fund Public Health Fund Public Health Fees Fund Recorder’s Surcharge Fund School Communication Expense Fund School Grants Fund School Transportation Fund Sheriff Donations Fund Sheriff Grants Fund Sheriff Jail Enhancement Fund Sheriff RICO Fund Sheriff Towing and Impound Fund Small School Service Fund Spousal Maintenance Enforcement Enhancement Fund Superior Court Fill the Gap Fund Superior Court Grants Fund Superior Court Special Revenue Fund Taxpayer Information Fund Transportation Grants Fund Transportation Operations Fund Victim Compensation Interest Fund iii 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 Table of Contents (Continued) For the Fiscal Year Ended June 30, 2015 Page Special Revenue Funds (Continued) Victim Compensation Restitution Fund Victim Location Fund Waste Management Fund Waste Tire Fund 230 231 232 233 Debt Service Funds County Improvement Debt Fund Stadium District Debt Service Fund 234 235 Capital Projects Funds County Improvement Fund Detention Capital Projects Fund Detention Technology Capital Improvement Fund Flood Control Capital Projects Fund General Fund County Improvements Fund Intergovernmental Capital Projects Fund Intergovernmental Technology Projects Fund Library District Capital Improvement Fund Long Term Project Reserve Fund Technology Capital Improvement Fund Transportation Capital Projects Fund Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects 236 237 238 239 240 241 242 243 244 245 246 247 Internal Service Funds Listing of Internal Service Funds Combining Statement of Net Position Combining Statement of Revenues, Expenses, and Changes in Net Position Combining Statement of Cash Flows 255 256 258 260 Agency Funds Listing of Agency Funds Statement of Changes in Assets and Liabilities 265 266 Statistical Section Listing of Statistical Information Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Tax Revenues by Source, Governmental Funds Assessed Value and Estimated Market Value of Taxable Property Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections Ratios of Outstanding Debt by Type Legal Debt Margin Information Pledged Revenue Coverage Demographic and Economic Statistics Principal Employers Budgeted Full-time Equivalent County Employees by Function/Program Operating Indicators by Function/Program Capital Asset Statistics by Function/Program iv 269 270 271 273 274 276 277 278 279 280 281 282 283 284 285 286 287 288 Maricopa County Officials BOARD OF SUPERVISORS Denney Barney, District 1 Steve Chucri, District 2 Andrew Kunasek, District 3 Clint L. Hickman, District 4 Steve Gallardo, District 5  COUNTY MANAGER Tom Manos  ASSISTANT COUNTY MANAGER – CHIEF FINANCIAL OFFICER Shelby L. Scharbach v Organizational Chart Maricopa County Citizens Superintendent of Schools Constables County Attorney Sheriff Board of Supervisors Clerk of the Court Assessor Treasurer Recorder Elected Appointed STAR Call Center Clerk of the Board County Manager Elections Internal Audit Procurement Services Risk Management Deputy County Manager Public Defense Services Contract Counsel Legal Defender Public Advocate Public Defender Legal Advocate Assistant County Manager Assistant County Manager Management & Budget Human Resources Finance Correctional Health Employee Benefits & Health Enterprise Technology Public Health Human Services Parks & Recreation Medical Examiner Protective Services Assistant County Manager Animal Care & Control Deputy County Manager Planning & Development Emergency Management Facilities Management Environmental Services Research & Reporting Air Quality NonDepartmental Transportation Public Fiduciary Waste Resources & Recycling Equipment Services vi Maricopa County County Administrative Office 301 West Jefferson Street 10th Floor Phoenix, AZ 85003-2143 Phone: 602-506-3571 Fax: 602-506-3328 www.maricopa.gov December 21, 2015 The Honorable Board of Supervisors Maricopa County County Administration Building 301 W. Jefferson Street Phoenix, AZ 85003 Arizona Revised Statute (A.R.S.) §41-1279.21 requires the Office of the Auditor General to conduct financial audits of the accounts and records of County governments. Pursuant to the statute, the Office of the Auditor General audited the Comprehensive Annual Financial Report (CAFR) of Maricopa County in accordance with generally accepted auditing standards for the year ended June 30, 2015. This report consists of management’s representations concerning the finances of Maricopa County. Consequently, management assumes full responsibility of the completeness and reliability of all the information presented in this report. To provide a reasonable basis for making these representations, management of Maricopa County has established a comprehensive internal control framework that is designed both to protect the government’s assets from loss, theft, or misuse and to compile sufficient reliable information for preparation of Maricopa County’s financial statements in conformity with generally accepted accounting principles (GAAP). Because the cost of internal control should not outweigh their benefits, Maricopa County’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The goal of the independent audit was to provide reasonable assurance that the financial statements of Maricopa County for the fiscal year ended June 30, 2015, are free of material misstatement. The independent audit involves obtaining audit evidence about the amounts and disclosures in the financial statements. An audit includes assessments of risk of material misstatement of the financial statements, evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall financial statement presentation. The independent auditors expressed an unqualified opinion on the Maricopa County financial statements for the fiscal year ended June 30, 2015. The auditors concluded that the financial statements were considered fairly presented in conformity with GAAP. The independent auditor’s report is presented as the first component of the financial section of this report. The independent audit of the financial statements of Maricopa County was part of a broader, federally mandated Single Audit designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. This report will be available in Maricopa County’s separately issued Single Audit Report to be issued at a future date. vii GAAP requires management’s discussion and analysis (MD&A) immediately following the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. This MD&A complements this letter of transmittal and should be read in conjunction with it. County Profile Maricopa County was established on February 14, 1871, and is located in the south-central portion of the State of Arizona. According to Arizona Department of Commerce, at July 1, 2014, Maricopa County contained 60.1 percent of the State’s total population (www.population.az.gov). The County occupies th 9,225 square miles making it the 14 largest county in land area in the United States. Phoenix is the capital of Arizona as well as the county seat for Maricopa County. Maricopa County operates under a five member elected Board of Supervisors who appoints a County Manager. The County Manager is responsible for the general administration and overall operations of the various County departments. The County has several elected officials including the Assessor, Clerk of the Superior Court, Constables, County Attorney, Recorder, Sheriff, Superintendent of Schools, and the Treasurer. Maricopa County offers a wide variety of governmental services, including:  Community Resources: Superintendent of Schools  County Administration: Board of Supervisors, County Manager, Assessor’s Office, Clerk of the Board, Elections, Finance, Internal Audit, Research and Reporting, Office of Management and Budget, Recorder, Office of Procurement Services, Human Resources, Information Technology, Treasurer’s Office, and Facilities Management  Public Safety, Justice and Law Enforcement: Clerk of the Superior Court, County Attorney, Trial Court, Adult Probation, Juvenile Probation, Sheriff’s Department, Public Defender, Emergency Management, Correctional Health, Planning and Development, Constables, Justice Courts, and Public Fiduciary  Public Health and Welfare Services: Public Health, Air Quality, Employee Benefits and Health, Human Services, Animal Care and Control, Environmental Services, and Medical Examiner  Public Works: Flood Control District, Transportation Department, and Waste Resources and Recycling Library District, Parks and Recreation, Stadium District, and The annual budget serves as the foundation for Maricopa County’s financial planning and control. The County is required by A.R.S. §42-17101 et. seq. to annually prepare and adopt a balanced budget. Arizona law further requires that no expenditure shall be made or liability incurred in excess of the amounts budgeted except as provided by law. Maricopa County’s annual budget is available on the internet at the following address: http://www.maricopa.gov/budget/. Economic Outlook Maricopa County has a variety of industries within its boundaries with the majority comprised of high tech, financial, and service industries. Some of the major employers located in the state include Wal-Mart, Banner Health Systems, Wells Fargo & Co., Intel Corp., Fry’s Food Stores, Honeywell, and various local governments (Greater Phoenix Economic Council, November 2015). viii Because of a favorable climate and mild weather conditions, tourism is also a large factor in the strength of the local economy. Major sporting events can be held year around and many people come to the area during the winter months. Maricopa County is the home to teams from major league professional sports, which include the Arizona Cardinals of the National Football League (NFL), Phoenix Suns of the National Basketball Association (NBA), Phoenix Mercury of the Women’s National Basketball Association (WNBA) Arizona Diamondbacks of the Major League Baseball (MLB) and the Phoenix Coyotes of the National Hockey League (NHL). Maricopa County also hosts several major league baseball teams for the annual spring training Cactus League. Maricopa County is also a host to other major sporting events such as the Waste Management Phoenix Open golf tournament and Phoenix International Raceway. Cities within Maricopa County also host college bowl games such as the Fiesta Bowl and the Cactus Bowl. In 2016, Arizona is host to the College Football Playoff National Championship which is held in Glendale, a major city within Maricopa County. Arizona remains on a modest growth track and continues to add jobs and residents at a faster pace than the nation and most other states. The forecast calls for state growth with gains across most indicators exceeding national results (www.eller.arizona.edu). Maricopa County’s unemployment rate is 5.4 percent as of September 2015, which remains below the State of Arizona and slightly higher than the United States unemployment rates of 6.3 percent and 5.1 percent, respectively (www.laborstats.az.gov). Financial Policies and Long-Term Financial Planning Financial Planning – Maricopa County has a fiscally conservative management philosophy, which has allowed the County to be financially successful. Maricopa County prepares a five-year financial forecast, with the assistance of an economist, which is updated on a quarterly basis for several major funds, including the General Fund and Detention Operations Fund. The five-year forecast provides a conservative estimate of the County’s fiscal condition given realistic economic trends, current Board policies, and existing laws. The forecast does not incorporate anticipated policy changes, spending priorities, or proposed new revenue sources. Capital Improvement Program – Maricopa County’s Capital Improvement Program (CIP) identifies capital projects to be completed over the next five years. Because these projects typically span more than one fiscal year, the plans are updated annually to track existing projects, identify new projects, and update funding estimates and forecasts. It is the County’s philosophy and policy that new capital projects will be undertaken only if future operating revenues are reasonably estimated to be sufficient to support associated future operating costs. Operating costs associated with new facilities are budgeted by the user department in conjunction with the partnering department such as Facilities Management and Enterprise Technology. Estimated operating costs, as well as anticipated savings in lease costs and operating costs of facilities to be replaced are factored into the County’s ten-year financial forecast. Debt Management – Maricopa County utilizes a modified “pay as you go” financial policy for large capital improvement projects, large technology projects, and other infrastructure. The County pays cash for many capital improvements, or utilizes lease reversions or other funding sources from the General Fund to pay for large dollar projects. Cash Management – Maricopa County maintains deposits and investments in the Treasurer’s Pool and outside of the Treasurer’s Pool. The Treasurer’s Pool invests all idle monies not specifically invested for a fund or program. In addition, the Treasurer determines the fair value of those pooled investments monthly and at June 30th. Deposits and investments held outside of the Treasurer’s Investment Pool represent a small portion of the County’s total deposits and investments. It is the County’s investment policy to: collateralize all deposits by at least 102 percent of the deposits not covered by depository insurance; preserve the principal value and the interest income of an investment; hold investments to maturity, where practical, to avoid any loss on investments resulting from an early sale or retirement of an investment; and require all of the Treasurer’s securities be held by the agent or trust department and in the County’s name. ix Expenditure Limitation – On June 30, 1980, Arizona voters approved general propositions amending the Arizona Constitution to establish expenditure and revenue limitations for local governments. The purpose of the expenditure limitation is to control expenditures and to limit future increases in spending to adjustments for inflation, deflation, and population growth of the County. The Constitution also limits the amount of revenues that may be generated from property taxes. A two-percent plus new construction annual increase is the maximum allowed by law unless special voter approval is obtained. This report will be available in Maricopa County’s separately issued Expenditure Limitation Report to be issued at a future date. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Maricopa County for its comprehensive annual financial report for the fiscal year ended June 30, 2014. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. general accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. The preparation and audit of this report could not be accomplished without the efficient and dedicated services of the Department of Finance staff, the assistance of administrative personnel in the various departments, and the competent service of the Office of the Auditor General. We appreciate all of those who assisted in and contributed to the preparation of this report. We also wish to express our sincere appreciation to the Board of Supervisors for their support in planning and overseeing the financial operations of the County in a responsible and progressive manner. Respectfully submitted, Tom Manos County Manager Shelby L. Scharbach Assistant County Manager - Chief Financial Officer x xi xii FINANCIAL SECTION Independent Auditors' Report Management's Discussion and Analysis Basic Financial Statements Basic Financial Statements - Notes Required Supplementary Information Budgetary Comparison Schedules - General Fund and Major Special Revenue Fund Note to Budgetary Comparison Schedules Schedule of the County's Proportionate Share of Net Pension Liability Schedule of Changes in the County's Net Pension Liability and Related Ratios Schedule of County Pension Contributions Notes to Pension Plan Schedules Schedule of Agent OPEB Plans' Funding Progress Note to Schedule of Agent OPEB Plans' Funding Progress Modified Approach for Infrastructure Assets Combining and Individual Fund Statements and Schedules Nonmajor Governmental Funds Internal Service Funds Agency Funds STATE OF ARIZONA DEBRA K. DAVENPORT, CPA AUDITOR GENERAL OFFICE OF THE MELANIE M. CHESNEY DEPUTY AUDITOR GENERAL AUDITOR GENERAL Independent Auditors’ Report Members of the Arizona State Legislature The Board of Supervisors of Maricopa County, Arizona Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, business-type activities, discretely presented component unit, each major fund, and aggregate remaining fund information of Maricopa County as of and for the year ended June 30, 2015, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of four departments and the discretely presented component unit, which account for the following percentages of the assets and deferred outflows of resources, liabilities and deferred inflows of resources, revenues, and expenses or expenditures of the opinion units affected: Opinion Unit/Department Government-wide Statements Governmental activities: Stadium District Risk Management Employee Benefits Trust Business-type activities: Housing Authority Discretely presented component unit Fund Statements Major Fund: Housing Authority Aggregate remaining fund information: Stadium District Risk Management Employee Benefits Trust Assets and Deferred Outflows Liabilities and Deferred Inflows 5.31% 0.65% 0.67%  100% 100%  0.75% 3.35% 0.91% 100% 100% 100% 100% 0.87% 1.22% 1.26% 0.02% 23.49% 6.37% 2910 NORTH 44 th STREET • SUITE 410 • PHOENIX, ARIZONA          Revenues Expenses/ Expenditures 0.56% 1.12% 6.96% 0.66% 1.31% 7.16% 100% 100% 100% 100% 100% 100% 0.14% 0.24% 1.49% 0.12% 0.32% 1.75% 85018 • (602) 553-0333 • FAX (602) 553-0051 Those statements were audited by other auditors whose reports have been furnished to us, and our opinions, insofar as they relate to the amounts included for those departments and component unit are based solely on the reports of the other auditors. We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the County’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the County’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, based on our audit and the reports of the other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, discretely presented component unit, each major fund, and aggregate remaining fund information of Maricopa County as of June 30, 2015, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with U.S. generally accepted accounting principles. Emphasis of Matter As described in Note 1 to the financial statements, for the year-ended June 30, 2015, the County adopted new accounting guidance, Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. Our opinions are not modified with respect to this matter. As described in Note 3 to the financial statements, there was a change in reporting entity. The Industrial Development Authority that was reported in previous years as a related organization became a discretely presented component unit of the County, for the year ended June 30, 2015. Our opinions are not modified with respect to this matter. As described in Note 4 to the financial statements, the County restated beginning net position of its financial statements for the year ended June 30, 2015, to correct a misstatement in its previously issued financial statements. Our opinions are not modified with respect to this matter. Other Matters Required Supplementary Information U.S. generally accepted accounting principles require that the Management’s Discussion and Analysis on pages 5 through 16, the Budgetary Comparison Schedules on pages 93 through 96, Schedule of the County’s Proportionate Share of the Net Pension Liability on page 97, Schedule of Changes in the County’s Net Pension Liability and Related Ratios on pages 98 through 99, Schedule of County Pension Contributions on pages 100 through 101, Schedule of Agent OPEB Plans’ Funding Progress on pages 102 through 103, and the Modified Approach for Infrastructure Assets information on page 104 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with U.S. generally accepted auditing standards, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary and Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County’s basic financial statements. The combining and individual fund statements and schedules and the introductory and statistical sections listed in the table of contents are presented for purposes of additional analysis and are not required parts of the basic financial statements. The combining and individual fund statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with U.S. generally accepted auditing standards by us and the other auditors. In our opinion, based on our audit, the procedures performed as described above, and the reports of the other auditors, the combining and individual fund statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them. Compliance Over the Use of Highway User Revenue Fund and Other Dedicated State Transportation Revenue Monies In connection with our audit, nothing came to our attention that caused us to believe that the County failed to use highway user revenue fund monies received by the County pursuant to Arizona Revised Statutes Title 28, Chapter 18, Article 2, and any other dedicated state transportation revenues received by the County solely for the authorized transportation purposes, insofar as they relate to accounting matters. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the County’s noncompliance with the use of highway user revenue fund monies and other dedicated state transportation revenues, insofar as they relate to accounting matters. The communication related to compliance over the use of highway user revenue fund and other dedicated state transportation revenue monies in the preceding paragraph is intended solely for the information and use of the members of the Arizona State Legislature, the Board of Supervisors, management, and other responsible parties within the County and is not intended to be and should not be used by anyone other than these specified parties. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we will issue our report on our consideration of the County’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters at a future date. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the County’s internal control over financial reporting and compliance. Debbie Davenport Auditor General December 21, 2015 4 Management’s Discussion and Analysis This discussion and analysis is intended to be an easily readable analysis of Maricopa County’s (County) financial activities based on currently known facts, decisions or conditions. This analysis focuses on current year activities and should be read in conjunction with the Transmittal Letter that begins on page vii and with the County’s basic financial statements following this section. Financial Highlights  The total assets and deferred outflows of resources of the County exceeded its liabilities and deferred inflows of resources at the close of the fiscal year by $3,177.4 million (net position), a decrease of 7.3 percent from the prior year restated amount. Of this amount, $3,317.0 million is invested in capital assets, $208.4 million is subject to external restrictions, and ($348.0) million is unrestricted.  The County’s total net position as reported in the Statement of Activities decreased by $232.1 million from the prior year. The County’s primary sources of revenue are from taxes, intergovernmental, grants and contributions, and charges for services. Revenue Sources (in millions) Capital Grants & Contributions - $31.9, (2%) Other - $19.6 (1%) Unrestricted intergovernmental $614.3 (32%) Taxes - $674.4, (36%) Charges for Services$249.9 (13%) Operating Grants & Contributions - $296.5 (16%)  The County’s governmental funds reported combined fund balances of $1,368.3 million, an increase in fund balance of $130.7 million over the prior fiscal year. Approximately 98.4 percent of the combined fund balances or $1,346.0 million is spendable and available to meet the County’s current and future needs.  Spendable fund balance for the General Fund decreased by 18.3 percent to $99.0 million; approximately 10.7 percent of total General Fund expenditures. See page 10 for a description of spendable fund balance. In accordance with Arizona Revised Statutes (A.R.S.), this entire amount is budgeted to be spent in the next fiscal year. A.R.S. §42-17151 requires that total estimated sources of revenue must equal the total estimated expenditures in the budget for the current fiscal year. In addition, A.R.S. §42-17102 stipulates that the estimated expenditures may include an amount for unanticipated contingencies or emergencies. 5 Management’s Discussion and Analysis (Continued)  The County’s enterprise fund, the Housing Authority Fund, reported net position of $27.5 million, of which $26.3 million is invested in capital assets, $1.3 million is restricted, and ($90.4) thousand is unrestricted. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the County’s basic financial statements. The County’s basic financial statements consist of three components: 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to the basic financial statements. Required Supplementary Information is included in addition to the basic financial statements. The Combining and Individual Fund Statements and Schedules – Nonmajor Funds begin on page 114. Government-wide Financial Statements are designed to provide readers with a broad overview of the County’s finances, in a manner similar to private-sector businesses.  The Statement of Net Position presents information on all County assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating.  The Statement of Activities presents information showing how net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of these government-wide financial statements distinguish functions of the County that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a portion of their costs through user fees and charges (business-type activities). The governmental activities of the County include general government; public safety; highways and streets; health, welfare and sanitation; culture and recreation; education; and interest on long-term debt. The business-type activities of the County consist of the Housing Authority of Maricopa County. Component units are legally separate entities for which the County is considered to be financially accountable. Blended component units, although legally separate entities, are in substance part of the County’s operations. Therefore, data from these units is combined with data of the primary government. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize they are legally separate from the County. The Housing Authority of Maricopa County, Maricopa County Flood Control District, Maricopa County Library District, Maricopa County Public Finance Corporation, Maricopa County Special Assessment Districts, Maricopa County Stadium District, and the Maricopa County Street Lighting Districts are reported as blended component units. The Industrial Development Authority of Maricopa County is reported as a discretely presented component unit. The Government-wide financial statements can be found on pages 21-23 of this report. Fund Financial Statements are groupings of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The County, like other state and local governments, uses fund accounting to ensure and demonstrate finance-related legal compliance. All of the funds of the County can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. 6 Management’s Discussion and Analysis (Continued)  Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental funds financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a county’s nearterm financing requirements. Governmental funds include the general, special revenue, debt service, and capital projects funds. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds Balance Sheet and the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The County reports seven major governmental funds. Information is presented separately in the governmental funds Balance Sheet and in the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund, Detention Operations Fund, County Improvement Debt Fund, County Improvement Fund, Detention Capital Projects Fund, General Fund County Improvements Fund, and Technology Capital Improvement Fund. Data from the other governmental funds (nonmajor) are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements, which begin on page 114 of this report. The governmental funds financial statements can be found on pages 24-28 of this report.  Proprietary funds are maintained two ways. Enterprise Funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The County uses an enterprise fund to account for the Housing Authority Fund. Internal service funds are an accounting device used to accumulate and allocate costs internally among the County’s various functions. The County uses internal service funds to account for its equipment services, telecommunications, reprographics, risk management, employee benefits trust, and sheriff warehouse functions. Because these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the governmentwide financial statements. Fund financial statements for the enterprise fund provides the same type of information as the government-wide financial statements, only in more detail. The Housing Authority Fund is considered to be a major fund of the County. The County’s internal service funds are combined into a single, aggregated presentation in the proprietary funds financial statements. Individual fund data for the internal service funds is provided in the form of combining statements, which begin on page 258 of this report. The proprietary fund financial statements can be found on pages 30-32 of this report.  Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the County’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary funds financial statements can be found on pages 34-35 of this report. Notes to the Financial Statements provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes can be found on pages 39-89 of this report. 7 Management’s Discussion and Analysis (Continued) Required Supplementary Information is presented concerning the County’s General Fund and Detention Operations Fund. A budgetary comparison schedule has been provided for both of these funds to demonstrate compliance with budget and additional information is provided in the Note to Budgetary Comparison Schedules. In addition, the following schedules related to the County’s pension plans are presented: Schedule of the County’s Proportionate Share of Net Pension Liability, Net Pension Liabilities and Related Ratios, Schedule of County Pension Contribution, and Schedule of Agent OPEB Plans’ Funding Progress. Also presented are infrastructure assets reported using the modified approach. Required supplementary information can be found on pages 93-104 of this report. Government-wide Financial Analysis Net Position Net position may serve over time as a useful indicator of a government’s financial position. The following table reflects the condensed Statement of Net Position of the County for June 30, 2015, as compared to the prior year. Statement of Net Position As of June 30 (in millions) Governmental Activities 2015 Current and other assets Capital assets Total assets $ Deferred outflows Current liabilities Long-term liabilities Total liabilities Deferred inflows Net position Net investment in capital assets Restricted Unrestricted Total net position $ 1,595.8 3,476.8 5,072.6 Business-type Activities 2014 $ 1,476.3 3,532.8 5,009.1 2015 $ 6.4 32.1 38.5 306.0 0.5 0.7 199.1 1,873.0 2,072.1 189.8 215.8 405.6 1.0 10.1 11.1 156.6 3,290.7 207.1 (347.9) 3,149.9 Total 2014 $ 6.7 33.5 40.2 1.9 6.4 8.3 0.6 $ 3,423.3 542.2 638.5 4,604.0 26.3 1.3 (0.1) 27.5 $ 2015 2014 $ 1,602.2 3,508.9 5,111.1 $ 1,483.0 3,566.3 5,049.3 306.7 0.5 >100.0 200.1 1,883.1 2,083.2 191.7 222.2 413.9 4.4 >100.0 >100.0 157.2 $ 28.2 2.2 1.5 31.9 % Chg P/Y 3,317.0 208.4 (348.0) $ 3,177.4 8.1% (1.6) 1.2 >100.0 3,451.5 544.4 640.0 $ 4,635.9 (3.9) (61.7) >(100.0) (31.5) By far, the largest portion - $3.3 billion - of the County’s net position reflects the investment in capital assets (e.g., land, buildings and improvements, machinery and equipment, infrastructure and construction in progress), less accumulated depreciation and any related debt used to acquire those assets that is still outstanding. Net position invested in capital assets decreased by $134.5 million due to a decrease in net capital assets of $57.4 million, compounded by an increase in capital asset related debt of $76.6 million. The increase in capital related debt is a result of the issuance of Certificates of Participation, Series 2015, of $185.6 million, of which, $121.0 million is unspent at June 30, 2015. In addition, the County entered into capital leases totaling $8.3 million during fiscal year 2015. The decrease in capital assets is mainly attributed to a decrease in construction in progress of $107.4 million, which was offset by an increase in infrastructure of $68.4 million. See page 13 for additional detail on capital asset changes. The County uses capital assets to provide services to its citizens; consequently, these assets are not available for future spending. Although the County’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. 8 Management’s Discussion and Analysis (Continued) The second component of the County’s total net position, $208.4 million, represents resources that are subject to external restrictions on how they may be used. This component decreased by $336.0 million from the prior year. This decrease is primarily the result of beginning net position adjustments and additional pension expenses reported in government-wide due to the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. See Note 4 – Beginning Balances Restated and Note 20 - Pensions and Other Postemployment Benefits for additional information. The final component consists of unrestricted deficit of $348.0 million. Unrestricted net position decreased from fiscal year 2014 by $988.0 million. This decrease is primarily the result of beginning net position adjustments and additional pension expenses reported in government-wide due to the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. See Note 4 – Beginning Balances Restated and Note 20 - Pensions and Other Postemployment Benefits for additional information. Changes in Net Position As discussed previously, the County’s total net position of $3.2 billion decreased by $232.1 million as reported in the Statement of Activities. The following table reflects the condensed Statement of Activities of the County for the fiscal year 2015 compared to the prior year and indicates the changes in net position for governmental activities: Statement of Activities For the year ended June 30 (in millions) Governmental Activities 2015 2014 Revenues: Program revenues: Charges for services Operating grants and contributions Capital grants and contributions General revenues: Taxes Unrestricted intergovernmental Other Total Revenues Expenses: General government Public safety Highways and streets Health, welfare and sanitation Other** Housing Authority Total Expenses $ 244.2 280.2 31.6 $ 246.9 259.1 49.6 674.5 614.3 18.5 1,863.3 628.2 576.7 26.2 1,786.7 298.1 1,134.9 163.8 408.2 89.9 208.0 1,009.5 87.0 403.9 82.8 2,094.9 1,791.2 Business-type Activities 2015 2014 $ $ .8 23.1 23.5 23.5 Special items: Change in net position Net position – beginning, as restated* Net position – ending 5.7 16.3 0.3 (4.5) 4,608.5 $ 4,604.0 $ (0.5) 28.0 27.5 2014 $ 253.6 274.6 51.0 $ 249.9 296.5 31.9 0.2 23.8 674.5 614.3 19.3 1,886.4 628.2 576.7 26.4 1,810.5 7.4 6.5 (26.9) 4.2 25.0 25.0 298.1 1,134.9 163.8 408.2 89.9 23.5 2,118.4 208.0 1,009.5 87.0 403.9 82.8 25.0 1,816.2 43.3 12.4 88.3 1.1 8.6 (6.0) 16.6 (1.2) 33.1 31.9 (232.1) 3,409.5 $ 3,177.4 (1.5)% 8.0 (37.5) >100.0 (0.1) $ % Chg P/Y 6.7 15.5 1.4 (0.1) (231.6) 3,381.5 $ 3,149.9 Total 2015 (5.7) 4,641.6 $ 4,635.9 >(100.0) (26.5) (31.5) * Governmental activities, business-type activities, and total columns’ amounts beginning net position at July 1, 2014, were adjusted for the implementation of GASB 68 and adjustments to prior period inventories. See Note 4 – Beginning Balances Restated for additional information. ** The functions of culture and recreation, education, and interest on long-term debt are shown in the condensed Statement of Activities above as other expenses. 9 Management’s Discussion and Analysis (Continued) One of the main differences a reader will see between the governmental funds reported in the fund financial statements and the Statement of Activities is that governmental funds in the fund financial statements report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is reported as a capital asset and the expense of those assets is allocated over their estimated useful lives and reported as depreciation expense within the expenditure line items. Capital outlay expenditures exceeded depreciation expense in the current period by $77.1 million. In the government-wide Statement of Activities, the significant revenues reported included taxes, unrestricted intergovernmental, charges for services, and operating grants and contributions, which represent 35.7, 32.6, 13.3, and 15.7 percent, respectively, of total revenues for fiscal year 2015. Tax revenues in total increased $46.3 million primarily as a result of an increase in property taxes of $30.8 million and jail excise tax of $6.6 million. The increase in property taxes can be attributed to an increase in assessed values as a result of the improved economy, compounded by an increase in the property tax levy rate. The increase in jail excise tax revenue is a result of the improving economy. Intergovernmental revenue, which consists of state shared sales taxes, vehicle license taxes and unrestricted grants, increased $37.6 million from the prior fiscal year. This increase is attributable to increases in the state shared sale taxes and vehicle license taxes of $28.9 and $8.9 million, respectively, which are a result of the improving economy. Charges for services revenue decreased $3.7 million as a result of a decrease in Transportation Capital Projects Fund intergovernmental revenue of $3.7 million. Operating grants and contributions revenue increased $21.9 million from the prior year primarily as a result of the recognition of $17.0 million in contributions revenue as a result of the County’s proportionate share of the State’s appropriation to the Elected Officials Retirement Plan non-employer contributions made on behalf of the County. In addition, operating grants and contributions increased due to additional Highway User Revenue Fund revenue of $8.3 million, as a result of the improved economy. These increases were offset by a decrease in grants of $4.1 million. The decrease in grants is primarily attributed to decreased grant funding for the Community Development Block Grants/Entitlement Grants of $1.9 million and Public Health Emergency Preparedness Grant of $1.3 million, accounted for in the CDBG Housing Trust Fund and Public Health Grants Fund, respectively. Tax and other operating revenues provide the principal support for the functions of the County, which include general government; public safety; highways and streets; health, welfare and sanitation; culture and recreation; and education. Total expenses increased $302.2 million or 16.7 percent from the prior fiscal year. This increase is primarily a result of an increase in general government, public safety, and highways and streets function expenses of $92.0, $123.8, and $76.8 million, respectively. The increases in general government and public safety are primarily due to pension expense of $68.1 and $33.6 million, respectively, reported in the government wide statements as a result of the implementation of GASB Statement No. 68. In addition, the remaining increase in public safety and the increase in highways and streets are due to deletions of infrastructure related construction in progress of $41.4 and $80.3 million, respectively, as a result of annexed projects. Financial Analysis of the County’s Funds As noted earlier, the County uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. In order to provide comparative discussion of fund balances to the prior year, the analysis below of ‘spendable’ balance represents restricted, committed, assigned, and unassigned fund balance. Governmental Funds. Governmental activities are contained in the general, special revenue, debt service, and capital projects funds. The focus of the County’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the County’s financing requirements. In particular, spendable fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. 10 Management’s Discussion and Analysis (Continued) As of June 30, 2015, the governmental funds reported combined fund balances of $1,368.3 million which was an increase in fund balance of $131.9 million from the prior fiscal year. Approximately 98.2 percent of the combined fund balances or $1,346.0 million is available to meet the County’s current and future needs (spendable fund balance). The remaining fund balance is reserved for inventories and intergovernmental loans. The following funds are the County’s major governmental funds: General Fund The General Fund is the County’s primary operating fund. At the end of the current fiscal year, spendable fund balance of the General Fund was $99.0 million, while total fund balance was $116.4 million. This represents a decrease in the spendable fund balance from the prior year of $22.2 million, or 18.3 percent. As a measure of the General Fund’s liquidity, it may be useful to compare both spendable fund balance and total fund balance to the total fund expenditures. Spendable fund balance represents 10.7 percent of the total fiscal year 2015 General Fund expenditures, while total fund balance represents 12.5 percent of that same amount. These ratios indicate a strong fund balance position in comparison to expenditures, taking into account that Maricopa County operates on a structurally balanced budget in that fiscal year 2016 operating expenditures are expected to be fully funded by fiscal year 2016 revenues. During fiscal year 2015, the General Fund experienced a change in fund balance of ($21.7) million, a decrease of $115.2 million from the prior fiscal year change in fund balance of ($136.9) million. Revenues increased by $69.3 million from the prior fiscal year as a result of an increase in property tax, state shared sales tax, and state shared vehicle tax revenue of $28.9, $28.9, and $8.9 million, respectively. Operating transfers out decreased by $80.8 million and expenditures increased by $47.5 million. The decrease in operating transfers out is a result of a decrease in transfers to the General Fund County Improvements Fund of $87.3 million, which was offset by an increase in transfers out to the County Improvement Debt Fund of $7.8 million. The increase in expenditures is primarily attributable to an increase in salaries and benefits of $33.3 million as a result of retention pay and market range salary adjustments Detention Operations Fund The Detention Operations Fund is a special revenue fund that was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The Detention Operations Fund accounts for the jail tax revenue along with transfers from the General Fund for maintenance of effort (MOE). The MOE transfer from the General Fund is used to support the jail detention operations. Arizona Revised Statutes require the County to calculate the maintenance of effort transfer on an annual basis. The Detention Operations Fund transfers monies to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for the construction of the jail and detention facilities and detention technology infrastructure. At the end of the current fiscal year, total fund balance of the Detention Operations Fund was $43.4 million, of which 96.3 percent is restricted and considered spendable. This was a decrease in total fund balance of $19.7 million, or 31.2 percent from the prior fiscal year. Although the fund had more expenditures than revenues by $191.6 million, positive net transfers of $172.2 million offset the net loss in the fund. Operating transfers consisted of the transfer in for MOE from the General fund of $177.0 million and transfers out to the Detention Capital Projects Fund, County Improvement Debt Fund, and General Fund County Improvements Fund of $3.2 million, $581.3 thousand, and $1.1 million, respectively. The amount to be transferred to the Detention Capital 11 Management’s Discussion and Analysis (Continued) Projects Fund, General Fund County Improvements Fund, and County Improvement Debt Fund for any given year is determined through the budget planning process. County Improvement Debt Fund The County Improvement Debt Fund is a debt service fund that accounts for the debt service on Lease Revenue Bonds, Series 2007A; Lease Revenue Refunding Bonds, Series 2007B; Certificates of Participation, Series 2015; and other long-term obligations. At the end of the current fiscal year, spendable fund balance of the County Improvement Debt Fund was $16.4 million, of which $9.7 million is restricted for debt service. This represents a decrease of $3.0 million from the prior fiscal year and is attributed to the continued payment of debt service obligations. The primary activity in this fund is debt service payments. County Improvement Fund The County Improvement Fund is a capital projects fund that was established in fiscal year 2015 and accounts for capital projects funded through the issuance of long-term debt obligations. During the fiscal year, the County issued $185.6 million of Certificates of Participation, Series 2015. Projects that are funded include technology infrastructure refresh, detention and administrative technology upgrades, security and telephone system upgrades and administrative and justice projects. At the end of the current fiscal year, fund balance of the County Improvement Fund was $120.5 million, which represents the unspent proceeds, all of which is restricted and considered spendable. Detention Capital Projects Fund The Detention Capital Projects Fund is a capital projects fund that accounts for construction associated with the 1/5 of one-cent sales tax approved by voters in the General Election on November 3, 1998, and extended by the voters on November 5, 2002. Funding is provided by transfers from the Detention Operations Fund for construction of the adult and juvenile detention facilities. At the end of the current fiscal year, fund balance of the Detention Capital Projects Fund was $193.6 million, all of which is restricted and considered spendable. The fund balance in this fund increased $3.3 million from the prior fiscal year, which is attributed to transfers in from the Detention Operations Fund of $3.2 million. General Fund County Improvements Fund The General Fund County Improvements Fund is a capital projects fund that accounts for capital projects funded by transfers from the General Fund. Projects that are currently funded include justice and administrative projects. At the end of the current fiscal year, fund balance of the General Fund County Improvements Fund was $320.1 million, all of which is committed and considered spendable. The fund balance in this fund increased $20.1 million from the prior fiscal year as a result of net transfers of $26.4 million and capital outlay expenditures of $6.3 million. Fiscal year 2015 transfers consisted of transfers in from the General Fund and Detention Operations Fund of $57.9 million and $1.1 million, respectively, which were offset by transfers out to the Technology Capital Improvement Fund, General Fund, and County Improvement Debt Fund, of $15.2 million, $12.1 million, and $5.3 million, respectively. Technology Capital Improvement Fund The Technology Capital Improvement Fund is a capital projects fund that accounts for technology improvement capital projects funded by transfers from the General Fund and General Fund County Improvements Fund. Projects that are currently funded include technology infrastructure upgrades, administrative and detention system projects, and security and telephone system upgrades. At the end of the current fiscal year, fund balance of the Technology Capital Improvement Fund was $251.8 million, all of which is committed and considered spendable. The fund balance in this fund increased $15.0 million from the prior fiscal year as a result of net transfers of $24.1 million, capital lease agreements of $5.7 million, and capital outlay expenditures of $14.8 million. Fiscal year 2015 transfers consisted of transfers in from the General Fund and General Fund County Improvement Fund of $11.6 and $15.2 million, respectively, which were offset by transfers out to the General Fund of $2.7 million. 12 Management’s Discussion and Analysis (Continued) General Fund Budgetary Highlights The difference between the original budget and the final amended budget for the General Fund resulted in no significant change in revenues and a decrease in expenditures of $20.7 million. The decrease in budgeted expenditures was primarily a result of excess budget authority being moved from the General Fund to the County Improvement Debt Fund for debt service and the General Fund County Improvements Fund for capital projects. A significant favorable expenditure variance, as compared to the budget, was incurred in the Non-Departmental Department (general government function), Facilities Management Department (general government function), and Sheriff’s Department (public safety function) of $27.1 million, $8.7 million, and $8.2 million, respectively. These savings were a result of the Non-Departmental Department spending less contingency funds than was anticipated, the Facilities Management Department incurring less major maintenance expenditures, and the Sheriff’s Department incurring less personnel and vehicle costs than was anticipated. None of the variances between the budget and actual amounts were significant enough to affect the County’s ability to provide future services. Capital Assets and Long-Term Liabilities Capital Assets The County’s capital assets balance for its governmental and business-type activities as of June 30, 2015, was $3.5 billion (net of accumulated depreciation). Capital assets include land, buildings and improvements, infrastructure, machinery and equipment, and construction in progress. The County reports infrastructure assets, which consist of the Flood Control District and Transportation Department infrastructure, in the government-wide financial statements in accordance with GASB Statement No. 34. Additional information regarding infrastructure assets can be found in the Notes to the Financial Statements (Note 1 – Summary of Significant Accounting Policies and Note 12 – Capital Assets). The Flood Control District infrastructure assets consist of drainage systems, dams, flood channels and canals. Flood Control infrastructure is reported using the depreciation approach and the County uses the straight-line method of depreciation on these assets. At June 30, 2015, Flood Control District infrastructure-related assets consisted of land, infrastructure and construction in progress of $249.7, $336.4, and $134.8 million, respectively, net of any related accumulated depreciation. The Transportation Department infrastructure assets consist of a roadway system and a bridge system. Both systems are reported under the modified approach, which means the County will maintain the assets using an asset management system and will document that the infrastructure assets are being preserved at the established condition level. During fiscal year 2015, the condition level of both systems was within the established condition level. Actual maintenance/preservation costs varied by $2,601,743 and $147,353 from the estimated costs for the roadway and bridge system, respectively. Roadway and Bridge System maintenance is predicated by the Federal clearance process. Additionally, bids on roadway projects were more favorable than estimated resulting in a positive variance in the actual costs under the estimated. See Required Supplementary Information on page 104 for additional information. At June 30, 2015, Transportation Department infrastructure-related assets consisted of land, infrastructure and construction in progress of $370.5, $726.9, and $15.6 million, respectively. 13 Management’s Discussion and Analysis (Continued) Capital assets for governmental activities are presented below (in millions) to illustrate changes from the prior year: Governmental Activities Land Infrastructure Buildings and improvements (net of accumulated depreciation) Machinery and equipment (net of accumulated depreciation) Construction in progress Infrastructure (net of accumulated depreciation) Totals Business-type Activities % Chg Total 2015 $749.5 726.9 2014 $754.2 715.6 2015 $4.7 2014 $4.7 2015 $754.2 726.9 2014 $758.9 715.6 P/Y (0.6) 1.6 1,386.8 1,405.6 27.1 26.6 1.413.9 1,432.2 (1.3) 97.9 279.7 93.2 385.3 0.2 0.1 0.3 1.9 98.1 279.8 93.5 387.2 4.9 (27.7) 236.0 $3,476.8 178.9 $3,532.8 $32.1 $33.5 236.0 $3,508.9 178.9 $3,566.3 31.9 1.6 Capital assets, net of accumulated depreciation, decreased by $57.4 million, or 1.6 percent, from the prior year. The most significant impact on this decrease in the fiscal year ended June 30, 2015, was the decrease in construction in progress of $107.4 million, which was offset by an increase in infrastructure of $68.4 million from the prior fiscal year. The decrease in construction in progress is primarily due to completed transportation and flood control infrastructure construction projects of $196.4 million, most of which were annexed to other jurisdictions and did not get capitalized into other asset categories. Infrastructure construction in progress decreased primarily as a result of the completion and annexation of $80.3 million in transportation projects and the completion of a significant flood control project, the White Tanks Area Drainage Master Plan of $56.1 million, during the fiscal year. The decrease in infrastructure-related construction in progress was offset by an increase in non-infrastructure construction in progress of $81.3 million. The increase in non-infrastructure construction in progress is primarily a result of $70.8 million in technology infrastructure projects. Significant projects include the Radio System, Infrastructure Refresh, Enterprise Resource Planning System, and Enterprise Data Center projects, which accounted for increases in construction in progress of $12.3 million, $21.3 million, $8.3 million, and $9.1 million, respectively, for the fiscal year ended June 30, 2015. The increase in infrastructure of $68.4 million is due to the completion of the White Tanks Area Drainage Master Plan control project mentioned above of $56.1 million. Long-Term Liabilities Maricopa County has the following bond ratings: Debt Instrument & Rating Agency Rating Date Awarded General Obligation Bonds (implied or issuer credit rating) Standard & Poor’s AAA June 2015 Fitch Ratings AAA March 2015 Moody’s Investor Services Aaa June 2015 Lease Revenue Bonds Standard & Poor’s AA+ June 2015 Fitch Ratings AA+ March 2015 Moody’s Investor Services Aa1 June 2015 Certificates of Participation Standard & Poor’s AA+ June 2015 Fitch Ratings AA+ June 2015 Moody’s Investor Services Aa1 June 2015 At June 30, 2015, the County had total long-term liabilities (noncurrent liabilities due within one year and more than one year) outstanding of $1,883.1 million, which represents a $343.0 million increase from the restated prior year balance of $1,540.1 million. The restatement is due to the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement 14 Management’s Discussion and Analysis (Continued) No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. See Note 4 – Beginning Balances Restated for additional information. The majority of the $343.0 million increase is attributable to the issuance of Certificates of Participation, Series 2015 of $185.6 million, the associated bond premium of $15.6 million, the issuance of capital leases of $8.3 million, a net increase in net pension liability of $143.5 million, a net increase in reported claims and incurred but not reported claims of $6.2 million and debt service payments made during fiscal year 2015 for lease revenue bonds ($11.8 million), and Stadium District revenue bonds ($3.3 million). The largest components of long-term liabilities at June 30, 2015, consisted of lease revenue bonds of $97.1 million, certificates of participation of $185.6 million, reported claims and incurred but not reported claims of $83.3 million, and net pension liability of $1,452.7 million. Lease revenue bonds and certificates of participation applicable to governmental activities are paid from the County Improvement Debt Fund (debt service fund), which is funded by transfers from the General Fund. At June 30, 2015, the fund balance in the County Improvement Debt Fund to pay future liabilities was $16.4 million. Stadium District revenue bonds are special obligations of the District. The bonds are payable solely from pledged revenues, consisting of car rental surcharges levied and collected by the Stadium District pursuant to A.R.S. §48-4234. In September 2012, the Stadium District issued revenue refunding bonds in the amount of $25.1 million (par value) of which $16.0 million remains outstanding. Reported and incurred but not reported claims applicable to governmental activities of $83.3 million are reported in the Risk Management and Employee Benefits Trust funds (internal service funds). This is an increase of $6.2 million from the prior year as noted above. This liability is primarily related to actuarial estimates for the County’s self-insured portion of future claims for general litigation related to torts; thefts of, damage to, and destruction of assets; errors and omissions; injuries to employees; natural disasters; and certain health benefits that are paid through the operations of the funds. Additional information regarding long-term liabilities can be found in the Notes to Financial Statements (Note 14 – Long-Term Liabilities and Note 18 – Risk Management). Net pension liability applicable to governmental activities of $1.5 billion represents the difference between: 1) the total amount due to retirees for their future benefit obligations from employee services, less 2) the actual amount of assets on hand to make those payments. Therefore, an unfunded pension liability indicates that future benefit obligations to retirees are greater than the assets on hand to make those payments. These amounts are determined annually based on actuarial assumptions. Economic Factors and Next Year’s Budget and Rates  Arizona remains on a modest growth track and continues to add jobs and residents at a faster pace than the nation and most other states. The forecast calls for state growth with gains across most indicators exceeding national results (www.eller.arizona.edu).  The U.S. Census Bureau reports that Maricopa County’s population increased by 1.8 percent from fiscal year 2013 to 2014 (www.census.gov). The unemployment rate in Maricopa County in September 2015 was 5.4 percent, which remains below the state and slightly higher than the national average of 6.3 percent and 5.1 percent, respectively (www.laborstats.az.gov).  As reported by the U.S. Census Bureau, Maricopa County’s population increased 12.4 percent from 2005 to 2014, which is higher than the United States’ overall population increase of 7.6 percent for the same time period (www.census.gov). As part of the annual budget planning process, the County’s Office of Management and Budget developed a financial forecast to assist in both short and long range financial planning. This forecast provides a conservative estimate of the County’s fiscal condition through the next five years given a realistic economic forecast, current County policies and existing laws. The forecast was instrumental in 15 Management’s Discussion and Analysis (Continued) the determination of the fiscal year 2016 budget and tax rate, which took into account several significant trends:  Net assessed property tax valuations continue to increase in fiscal year 2016; however, the growth rate of net assessed valuations will be constrained beginning fiscal year 2016 for most property types due to the passage of Proposition 117, which caps the year-over-year property tax valuation increase to the lesser of the full cash value or 5 percent.  A tax rate of 1.3609 was adopted for fiscal year 2016, increasing the tax levy by $28 million. This amount is $157 million less than the constitutional maximum and results in a $158 median-valued residential property tax bill.  In fiscal year 2015, annual collections of State Shared Sales Tax, Vehicle License Tax, Highway User Revenues and County Jail Excise Tax revenues returned to the peak collections received in fiscal year 2007. In fiscal year 2016, revenue for these major sources is expected to surpass the fiscal year 2007 peak by $70 million. Subsequent yearly growth rates are expected to fluctuate from 5.0 percent to 5.9 percent from fiscal year 2017 through 2020. In accordance with A.R.S., the entire General Fund spendable fund balance amount (see page 11 for more information) will be budgeted in the next fiscal year. A.R.S. §42-17151 requires that total estimated sources of revenue must equal the total estimated expenditures in the budget for the current fiscal year. The estimated expenditures may include an amount for unanticipated contingencies or emergencies, per A.R.S. §42-17102. Request for Information This financial report is designed to provide our citizens, taxpayers, customers, investors and creditors with a general overview of the County’s finances and to demonstrate the County’s accountability for the money it receives. If you have any questions about this report or need additional financial information, please contact Maricopa County Department of Finance, 301 W. Jefferson, Suite 960, Phoenix, AZ 85003, or at www.maricopa.gov. 16 Financial Section Basic Financial Statements Basic Financial Statements Maricopa County Definitions of Government-wide Financial Statements and Listing of Major Funds Government-wide Financial Statements The Statement of Net Position presents information on all of Maricopa County’s assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference between the two reported as net position. The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. The above two statements are presented utilizing the following types of activities: Governmental Activities – generally are financed through taxes and intergovernmental revenues. Business-type Activities – are financed in whole or in part by fees charged to external parties. Major Funds General Fund – is the County’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. Special Revenue Funds Detention Operations Fund – was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. Debt Service Funds County Improvement Debt Fund – accounts for the debt service on the Lease Revenue Bonds, Series 2007A; Lease Revenue Refunding Bonds, Series 2007B; Certificates of Participation, Series 2015; and other long-term obligations. Capital Projects Funds County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2015. Detention Capital Projects Fund – accounts for construction associated with the 1/5 of one-cent sales tax approved by voters in the General Election on November 3, 1998, and extended by voters on November 5, 2002. Funding is provided by transfers from the Detention Operations Fund for construction of the adult and juvenile detention facilities. 19 Maricopa County Definitions of Government-wide Financial Statements and Listing of Major Funds (Continued) Capital Projects Funds (continued) General Fund County Improvements Fund – was established to fund current and future capital projects. Fund assets may be used to pay directly for capital projects or may be appropriated by the Board of Supervisors for debt service. None of the funds has been pledged for debt service, and fund assets may be transferred by the Board of Supervisors at any time for any other County purpose. Technology Capital Improvement Fund – established by the Board of Supervisors to account for General Fund and other resources committed for technology improvement projects. Enterprise Funds Housing Authority Fund – accounts for the activity of the Housing Authority of Maricopa County. 20 Maricopa County Statement of Net Position June 30, 2015 PRIMARY GOVERNMENT COMPONENT UNIT Business-type Activities Industrial Development Authority Governmental Activities ASSETS Cash in bank and on hand Cash and investments held by County Treasurer Investments Receivables (net of allowances for uncollectibles) Due from other governmental units Inventories Prepaids Miscellaneous Intergovernmental loans Loans receivable Cash and cash equivalents – restricted Cash and investments held by trustee – restricted Capital assets: Land Buildings and improvements Machinery and equipment Infrastructure – nondepreciable Infrastructure – depreciable Construction in progress Accumulated depreciation $ 32,420,815 1,316,297,484 $ 13,253,272 165,494,097 8,894,613 3,499,509 3,988,872 16,585,501 3,505,543 Total $ 1,154,468 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions Deferred charges on debt refunding Total deferred outflows of resources LIABILITIES Accounts payable Accrued liabilities Employee compensation payable Interest payable Unearned revenue Deposits held for other parties Noncurrent liabilities: Due within one year Due in more than one year Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service 43,054 46,660 1,625,951 1,625,951 35,407,820 4,687,545 70,430,262 1,082,135 749,522,329 1,897,896,950 381,642,890 726,928,541 336,363,699 279,652,122 (895,192,011) 12,366 (44,075,233) 754,209,874 1,968,327,212 382,725,025 726,928,541 336,363,699 279,664,488 (939,267,244) 5,072,656,503 38,512,751 5,111,169,254 305,782,020 201,151 305,983,171 710,325 306,492,345 201,151 306,693,496 75,733,683 8,068,375 98,322,786 2,174,278 9,328,887 5,520,555 503,695 162,392 40,130 21,595 193,194 76,237,378 8,068,375 98,485,178 2,214,408 9,350,482 5,713,749 54,896,061 1,818,069,939 161,452 9,984,293 55,057,513 1,828,054,232 2,072,114,564 11,066,751 2,083,181,315 156,644,197 156,644,197 649,328 649,328 157,293,525 157,293,525 3,290,683,747 26,261,574 3,316,945,321 710,325 424,158 88,747,522 67,792,636 8,872,429 30,015,628 647,076 10,611,491 (347,913,774) Unrestricted (deficit) $ 3,149,880,913 Total net position The notes to the financial statements are an integral part of this statement. 21 (90,428) 27,506,997 $ 3,177,387,910 5,182,566 29,292,852 73,496 30,281 248,656 17,728 34,845,579 1,097,891 620 1,098,511 424,158 88,747,522 67,792,636 10,208,280 30,015,628 647,076 10,611,491 (348,004,202) 1,335,851 $ $ 14,407,740 165,494,097 8,937,667 3,546,169 3,988,872 16,585,501 35,407,820 Total assets 35,926,358 1,316,297,484 33,747,068 $ 33,747,068 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2015 Program Revenues Charges for Services Expenses Operating Capital Grants and Contributions Grants and Contributions Functions/Programs Primary government: Governmental activities: General government $ Public safety 298,074,702 $ 21,160,957 $ 23,587,387 $ 1,134,891,006 140,199,614 27,360,544 7,236,963 Highways and streets 163,763,533 12,462,039 98,131,800 24,348,944 Health, welfare and sanitation 105,316,268 408,240,433 53,105,959 Culture and recreation 56,569,834 15,778,337 215,135 Education 28,791,958 4,568,950 1,536,658 25,633,306 2,094,900,416 244,243,564 280,244,440 31,634,976 23,483,448 5,717,592 16,300,111 337,818 23,483,448 5,717,592 16,300,111 337,818 Interest on long-term debt Total governmental activities 49,069 Business-type activities: Housing Authority Total business-type activities Total primary government $ 2,118,383,864 $ 249,961,156 $ 2,402,499 $ 4,327,970 Component unit: Industrial Development Authority General revenues: Taxes: Property taxes, levied for general purposes Property taxes, levied for Flood Control District Property taxes, levied for Library District Property taxes, levied for Street Lighting District Sales tax – Jail construction and operation Surcharge tax – Stadium District Unrestricted share of state sales tax Unrestricted share of state vehicle license tax Grants and contributions not restricted to specific programs Unrestricted investment earnings Gain on sale of assets Miscellaneous Special item – repayment agreement Special item – forgiveness of debt Total general revenues and special items Change in net position Net position, July 1, 2014, as restated Net position, June 30, 2015 The notes to the financial statements are an integral part of this statement. 22 $ 296,544,551 $ 31,972,794 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2015 Net (Expense) Revenue and Changes in Net Position Primary Government Governmental Activities $ (253,326,358) Component Unit Business-type Activities $ Industrial Development Authority Total $ (960,093,885) (253,326,358) (960,093,885) (28,820,750) (28,820,750) (249,818,206) (249,818,206) (40,527,293) (40,527,293) (1,621,994) (4,568,950) (1,621,994) (4,568,950) (1,538,777,436) (1,538,777,436) (1,127,927) (1,538,777,436) (1,127,927) (1,127,927) (1,127,927) (1,127,927) (1,539,905,363) $ 460,057,355 460,057,355 43,266,625 43,266,625 19,677,385 19,677,385 6,014,834 6,014,834 140,492,834 140,492,834 4,915,704 4,915,704 476,452,381 476,452,381 135,043,057 135,043,057 2,749,905 2,749,905 6,720,371 11,801,107 $ 1,925,471 44,661 6,765,032 409,657 409,657 356,833 12,157,940 (468,781) (468,781) 283,939 84,530 275,553 275,553 1,307,191,558 617,923 1,307,809,481 368,469 (231,585,878) 3,381,466,791 3,149,880,913 (510,004) 28,017,001 27,506,997 (232,095,882) 3,409,483,792 3,177,387,910 2,293,940 31,453,128 33,747,068 $ $ 23 $ Maricopa County Balance Sheet Governmental Funds June 30, 2015 Detention Operations General ASSETS Cash in bank and on hand Cash and investments held by County Treasurer Receivables (net of allowances for uncollectables) Due from other funds Due from other governmental units Inventories Miscellaneous Intergovernmental loans Cash and investments held by trustee – restricted Total assets LIABILITIES Accounts payable Employee compensation payable Accrued liabilities Due to other funds Interest payable Bonds payable Capital leases payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Total liabilities $ 27,083,585 1,847,444 10,555,194 11,825,985 86,975,258 2,405,417 2,037,979 16,585,501 $ $ 159,316,363 $ 57,087,377 $ $ 20,779,768 13,333,432 355,772 59,906 $ 5,106,647 5,732,728 2,540,395 $ $ 27,449,937 396,437 59,906 26,611,057 1,627,425 942,615 County Improvement $ 8,876,850 139,709,917 1,371,504 24,325,132 34,573,486 $ 262,945 139,972,862 $ 18,749,787 2,141,590 12,470,000 2,141,659 1,371,504 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances County Improvement Debt 453,340 34,982,218 38,188 13,417,958 6,347,549 1,585,501 7,933,050 225,180 225,180 17,405,417 1,627,425 41,816,814 82,953,184 16,042,494 116,401,095 $ 159,316,363 43,444,239 $ 57,087,377 747,003 19,496,790 18,124,753 $ 9,713,542 6,735,191 120,476,072 16,448,733 120,476,072 34,573,486 $ 139,972,862 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore, are not reported in the funds. Some receivables are not available to pay for current period expenditures and therefore, are deferred in the funds. Internal service funds are used by management to charge the costs of equipment services, telecommunications, reprographics, risk management, employee benefits, and the sheriff warehouse to individual funds. The assets, deferred outflows of resources, liabilities, and deferred inflows of resources of the internal service funds are included in governmental activities in the Statement of Net Position. Long-term liabilities (e.g., net pension liabilities and bonds payable) are not due and payable shortly after June 30, 2015, and therefore, are not reported in the funds Deferred outflows and inflows of resources related to pensions and deferred charges on debt refundings are applicable to future reporting periods and, therefore, are not reported in the funds. Net position of governmental activities The notes to the financial statements are an integral part of this statement. 24 Detention Capital Projects $ General Fund County Improvements $ 193,997,118 Technology Capital Improvement $ 320,575,723 Other Governmental Funds $ 253,195,192 1,868,106 300,277,092 1,595,906 Total Governmental Funds $ 50,536,278 3,270,083 1,008,278 $ 193,997,118 $ 320,575,723 $ 253,195,192 $ $ 161,371 $ 345,910 $ 996,161 $ 268,305 429,676 154,710 500,620 405,413 1,401,574 $ 193,997,118 $ 24,884,722 4,346,942 3,313,165 11,427,741 2,269 12,481 7,957,383 3,453,596 55,398,299 724,892 7,183,585 7,908,477 7,072,441 8,994,266 16,066,707 22,302,925 660,382,287 591,699,861 82,953,184 10,936,755 1,368,275,012 320,075,103 251,793,618 320,075,103 251,793,618 (5,105,739) 306,068,710 320,575,723 $ 253,195,192 $ $ 71,024,366 23,413,102 6,209,332 11,487,647 2,143,859 12,470,000 2,141,659 12,481 9,328,887 5,520,555 143,751,888 3,270,083 294,808,417 13,095,949 193,567,442 193,567,442 10,819,743 369,375,486 $ 28,951,691 1,245,929,273 12,547,537 11,885,891 165,494,097 7,302,925 3,988,872 16,585,501 35,407,820 1,528,093,607 369,375,486 3,473,405,129 16,066,707 (23,930,321) (1,833,762,608) $ 25 149,826,994 3,149,880,913 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended June 30, 2015 General Detention Operations County Improvement Debt 140,492,834 $ County Improvement REVENUES Taxes $ Licenses and permits 450,978,061 $ $ 2,192,728 Intergovernmental 629,393,460 Charges for services 41,300,300 Fines and forfeits 10,863,117 27,895,412 716,706 3,499,670 7,680,479 1,389,223 503,972 43,747 10,091 1,145,907,815 170,281,441 760,453 10,091 Special assessments Interest income Miscellaneous Total revenues EXPENDITURES Current: General government 140,816,521 Public safety 522,952,711 358,547,878 Highways and streets Health, welfare and sanitation 247,861,185 Culture and recreation 1,104,234 Education 2,605,178 Debt service: Principal 14,611,659 Interest 4,283,180 Other expenses Capital outlay Total expenditures 1,211,222 79,536,214 13,070,613 3,345,185 928,410,442 361,893,063 18,894,839 80,747,436 217,497,373 (191,611,622) (18,134,386) (80,737,345) 14,805,346 177,061,315 15,100,747 (254,509,775) (4,891,273) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Capital lease agreements Proceeds from COPS issuance 185,580,000 15,633,417 Premium on COPS issuance Total other financing sources (uses) Net change in fund balances Fund balances, July 1, 2014, restated (239,704,429) 172,170,042 15,100,747 201,213,417 120,476,072 (22,207,056) (19,441,580) (3,033,639) 138,120,895 63,182,987 19,482,372 487,256 (297,168) Changes in nonspendable resources: Increase (decrease) in inventories Fund balances, June 30, 2015 $ 116,401,095 $ The notes to the financial statements are an integral part of this statement. 26 43,444,239 $ 16,448,733 $ 120,476,072 Detention General Fund Technology Other Total Capital Projects County Improvements Capital Improvement Governmental Funds Governmental Funds $ $ $ $ 67,190,405 $ 658,661,300 44,008,939 46,201,667 288,938,142 918,331,602 89,170,839 159,083,257 14,372,128 25,235,245 6,014,834 6,014,834 1,131,873 8,055,085 6,074,604 16,239,536 518,882,245 1,835,842,045 8,264,625 149,081,146 123,550,726 1,005,051,315 54,006,764 54,006,764 156,867,860 404,729,045 35,425,397 36,529,631 25,490,852 28,096,030 3,254,738 17,866,397 443,502 4,726,682 1,215,938 213,487,827 2,648,276 6,260,339 14,782,206 4,716 93,844,994 2,648,276 6,260,339 14,782,206 501,154,174 1,914,790,775 (2,648,276) (6,260,339) (14,782,206) 17,728,071 (78,948,730) 59,007,506 26,889,103 80,518,094 379,355,888 (32,605,249) (2,724,200) (84,550,923) (379,281,420) 5,651,077 2,678,014 5,973,777 8,329,091 185,580,000 5,973,777 26,402,257 29,815,980 15,633,417 209,616,976 (1,354,815) 3,325,501 20,141,918 15,033,774 16,373,256 130,668,246 190,241,941 299,933,185 236,759,844 288,641,927 1,236,363,151 1,053,527 $ 193,567,442 $ 320,075,103 $ 251,793,618 27 $ 306,068,710 1,243,615 $ 1,368,275,012 Maricopa County Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the GovernmentWide Statement of Activities Year Ended June 30, 2015 Net change in fund balances – total governmental funds (page 27) $ 130,668,246 Amounts reported for governmental activities in the Statement of Activities on page 23 are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. 77,103,622 The net effect of various miscellaneous transactions involving capital assets is to decrease net position. (132,484,927) Revenue in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds 16,632,958 County pension contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension liability is measured a year before the County's report date. Pension expense, which is the change in the net pension liability adjusted for changes in deferred outflows and inflows of resources related to pensions, is reported in the Statement of Activities. (103,458,156) The issuance of long-term debt (e.g., bonds, leases) provides current financial resources to governmental funds, while the repayment of the principal of longterm debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the Statement of Activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. (191,837,807) Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds. (937,809) Internal service funds are used by management to charge the costs of equipment services, telecommunications, reprographics, risk management, employee benefits, and the sheriff warehouse to individual funds. The net expense of internal service funds is reported with governmental activities. Change in net position of governmental activities (page 23) The notes to the financial statements are an integral part of this statement. 28 (27,272,005) $ (231,585,878) 29 Maricopa County Statement of Net Position Proprietary Funds June 30, 2015 ASSETS Current assets: Cash in bank and on hand Cash and investments held by County Treasurer Receivables: Accounts Accrued interest Inventories Prepaids Cash and cash equivalents – restricted Total current assets Business-type Activities –Enterprise Fund Housing Authority Governmental Activities – Internal Service Funds $ $ 3,505,543 1,154,468 3,469,124 70,368,211 598,705 107,030 1,591,688 3,499,509 43,054 46,660 1,625,951 6,375,676 79,634,267 Noncurrent assets: Capital assets: Land Buildings and improvements Machinery and equipment Construction in progress Accumulated depreciation Total noncurrent assets 4,687,545 70,430,262 1,082,135 12,366 (44,075,233) 32,137,075 (12,003,348) 3,409,391 Total assets 38,512,751 83,043,658 710,325 710,325 2,122,572 2,122,572 503,695 162,392 40,130 21,595 193,194 4,709,317 1,283,777 1,859,043 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Employee compensation payable Accrued liabilities Unearned revenue Deposits held for other parties Due to other funds Liability for reported and incurred but not reported claims (current portion) Long-term debt (current portion) Total current liabilities 15,412,739 398,244 33,004,331 161,452 1,082,458 Noncurrent liabilities: Liability for reported and incurred but not reported claims Long-term debt Net pension liability Total noncurrent liabilities 41,254,712 50,302,410 Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for health, welfare and sanitation Unrestricted $ Total net position The notes to the financial statements are an integral part of this statement. 30 6,271,071 3,713,222 9,984,293 14,928,837 65,231,247 11,066,751 106,485,959 649,328 649,328 2,610,592 2,610,592 26,261,574 1,335,851 (90,428) 3,409,391 27,506,997 (27,339,712) $ (23,930,321) Maricopa County Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds Year Ended June 30, 2015 Business-type Activities – Enterprise Fund Governmental Activities – Internal Service Funds Housing Authority OPERATING REVENUES Charges for services $ 5,717,592 $ 187,674,637 16,300,111 Intergovernmental Miscellaneous Total operating revenues 206,833 819,945 22,224,536 188,494,582 2,399,751 13,853,739 OPERATING EXPENSES Personal services Supplies 15,377,902 Other services 687,467 Housing assistance payments 13,132,784 14,910,169 Legal 4,917,009 Insurance and claims 356,968 157,439,792 2,016,582 2,110,664 919,920 2,024,267 7,942,733 1,161,425 23,315,124 216,122,304 (1,090,588) (27,627,722) Leases and rentals 58,172 Repairs and maintenance Travel and transportation 128,084 Utilities Depreciation Total operating expenses Operating loss NONOPERATING REVENUES (EXPENSES) Investment income 44,661 430,834 Gain (loss) on disposal of capital assets 409,657 (649) Other government contributions 150,000 Interest expense Total nonoperating revenues (136,045) (32,279) 435,994 430,185 Loss before contributions, transfers and special items (654,594) (27,197,537) Other expense Capital contributions 337,818 Transfers out (74,468) Special item – repayment agreement Special item – forgiveness of debt (468,781) 275,553 Change in net position (510,004) 28,017,001 Total net position, July 1, 2014, as restated Total net position, June 30, 2015 (27,272,005) $ 27,506,997 3,341,684 $ (23,930,321) The notes to the financial statements are an integral part of this statement. 31 Maricopa County Statement of Cash Flows Proprietary Funds Year Ended June 30, 2015 Business-type Activities – Enterprise Fund Housing Authority CASH FLOWS FROM OPERATING ACTIVITIES Charges for services Other receipts (payments) Payments for goods and services Payments for personal services and benefits Net cash used for operating activities $ 21,949,576 Governmental Activities Internal Service Funds $ (532,559) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers to other funds Loan payments to General Fund Other government contributions Payments on long-term debt Net cash provided by (used for) noncapital financing activities 193,778,478 819,945 (20,143,955) (2,119,666) (195,070,092) (13,688,820) (846,604) (14,160,489) (74,468) (67,084) 150,000 (11,552) 138,448 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Capital grants received Proceeds from sale of assets Payments on long-term debt (740,077) 525,015 (53,570) (212,003) CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash provided by investing activities Net decrease in cash and cash equivalents Cash and cash equivalents, July 1, 2014 RECONCILIATION OF OPERATING LOSS TO NET CASH USED FOR OPERATING ACTIVITIES: Operating loss Adjustments to reconcile operating income (loss) to net cash provided by (used for) operating activities: Depreciation expense Liability for reported and incurred but not reported claims - noncurrent Changes in assets and deferred outflows of resources [(increase)/decrease] and liabilities and deferred inflows of resources [increase/(decrease)]: Accounts receivable Inventories Prepaids Other assets Accounts payable Employee compensation and net pension liabilities Accrued liabilities Liability for reported and incurred but not reported claims - current Other liabilities SCHEDULE OF NONCASH INVESTING, CAPITAL AND NONCAPITAL FINANCING ACTIVITIES: Accumulated depreciation from disposed capital assets Machinery and equipment disposed Loss on disposal of capital assets Special item - repayment agreement Special item - debt incurred for repayment agreement Special item - forgiveness of debt income Special item - forgiveness of debt 4,612 (520,230) 44,661 431,775 44,661 431,775 (658,883) (14,390,496) 5,790,377 88,227,831 $ 5,131,494 $ 73,837,335 $ (1,090,588) $ (27,627,722) 2,024,267 1,161,425 3,918,942 (602,962) 14,580 6,103,841 316,679 1,070,284 10,951 (941,647) (271,446) (58,059) 1,121,902 164,919 (2,631,102) 2,240,343 68,300 $ Net cash used for operating activities (520,230) 485,247 Interest payments on long-term debt Net cash provided by (used for) capital and related financing activities Cash and cash equivalents, June 30, 2015 (141,552) (846,604) $ $ $ (14,160,489) 217,100 (217,749) 649 468,781 (468,781) (273,553) 273,553 The notes to the financial statements are an integral part of this statement. 32 33 Maricopa County Statement of Fiduciary Net Position Fiduciary Funds June 30, 2015 Investment Trust Fund Agency Fund Assets Cash and investments in bank and on hand $ Cash and investments held by County Treasurer Accrued interest receivable Total assets $ 2,257,648,203 3,445,060 2,261,093,263 $ 32,706,358 $ 112,672,792 80,530 145,459,680 Liabilities Accounts payable $ 67,860 $ 509,223 144,882,597 145,459,680 Accrued liabilities Deposits held for other parties Total liabilities Net Position Held in trust for investment participants $ 2,261,093,263 The notes to the financial statements are an integral part of this statement. 34 Maricopa County Statement of Changes in Fiduciary Net Position Fiduciary Funds Year Ended June 30, 2015 Investment Trust Fund Additions: Contributions from participants $ 7,903,351,246 Investment income: Interest income 9,713,050 60,062 Net change in fair value of investments 9,773,112 Net investment income 7,913,124,358 Total additions Deductions: 7,755,435,151 Distributions to participants 7,755,435,151 Total deductions Change in net position 157,689,207 2,103,404,056 Net position, July 1, 2014, as restated Net position, June 30, 2015 $ 2,261,093,263 The notes to the financial statements are an integral part of this statement. 35 36 Financial Section Basic Financial Statements - Notes Basic Financial Statements - Notes Maricopa County Basic Financial Statements – Notes NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 2 FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS NOTE 3 REPORTING CHANGES NOTE 4 BEGINNING BALANCES RESTATED NOTE 5 RECONCILIATION STATEMENTS NOTE 6 STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY NOTE 7 DEPOSITS AND INVESTMENTS NOTE 8 CONDENSED FINANCIAL STATEMENTS OF COUNTY TREASURER’S INVESTMENT POOL NOTE 9 RECEIVABLES NOTE 10 DUE FROM OTHER GOVERNMENTAL UNITS NOTE 11 INTERGOVERNMENTAL LOANS NOTE 12 CAPITAL ASSETS NOTE 13 CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS NOTE 14 LONG-TERM LIABILITIES NOTE 15 MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS NOTE 16 MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT NOTE 17 OPERATING LEASES NOTE 18 RISK MANAGEMENT NOTE 19 POLLUTION REMEDIATION OBLIGATIONS NOTE 20 PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS NOTE 21 INTERFUND BALANCES AND ACTIVITY NOTE 22 DISCRETELY PRESENTED COMPONENT UNIT DISCLOSURES OF GOVERNMENT-WIDE 39 AND FUND FINANCIAL Notes to the Financial Statements (Continued) NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Maricopa County’s accounting policies conform to generally accepted accounting principles applicable to governmental units adopted by the Governmental Accounting Standards Board (GASB). For the year ended June 30, 2015, the County implemented the provisions of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. GASB Statement Nos. 68 and 71 establish standards for measuring and recognizing net pension (assets and) liabilities, deferred outflows of resources, deferred inflows of resources, and expenses/expenditures related to pension benefits provided through defined benefit pension plans. In addition, Statement No. 68 requires disclosure of information related to pension benefits. A. Reporting Entity Maricopa County is a general purpose local government that is governed by a separately elected board of five county supervisors. The accompanying financial statements present the activities of the County (the primary government) and its component units. Component units are legally separate entities for which the County is considered to be financially accountable. Blended component units, although legally separate entities, are so intertwined with the County that they are in substance part of the County’s operations. Component units should be blended in the County’s financial statements when the component unit’s governing body is substantively the same as the County’s governing body and there is either a financial benefit or burden relationship between the County and the component unit or county management has operational responsibility for it; the component unit provides services entirely, or almost entirely, to the County; or the component unit’s total debt outstanding is expected to be repaid entirely or almost entirely with the County’s resources. Therefore, data from these units is combined with data of the primary government. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize they are legally separate from the County. Each blended and discretely presented component unit discussed below has a June 30 year-end. The reporting entity is comprised of the primary government, Maricopa County Flood Control District, Maricopa County Library District, Maricopa County Public Finance Corporation, Maricopa County Special Assessment Districts, Maricopa County Stadium District, Maricopa County Street Lighting Districts, Housing Authority of Maricopa County, and Industrial Development Authority of Maricopa County. The blended component units are as follows: Maricopa County Flood Control District The Maricopa County Flood Control District is a legally separate, tax-levying entity pursuant to A.R.S. §48-3602 that provides flood control facilities and regulates floodplains and drainage to prevent flooding of property in Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Flood Control District, it is able to significantly influence the programs, projects, activities, or level of services provided by the District; therefore, the District is considered a blended component unit of the County. Maricopa County Library District The Maricopa County Library District is a legally separate, tax-levying entity pursuant to A.R.S. §483901 that provides and maintains library services for the residents of Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Library District, it is able to significantly influence the programs, projects, activities, or level of services provided by the District; therefore, the District is considered a blended component unit of the County. 40 Notes to the Financial Statements (Continued) Maricopa County Public Finance Corporation Maricopa County Public Finance Corporation is a nonprofit corporation created by the Maricopa County Board of Supervisors that exists primarily to assist the County in the acquisition, construction, and improvement of County facilities, including real property and personal property. The Board of Directors of the Public Finance Corporation is subject to the approval of the County Board of Supervisors and the corporation exists primarily for the benefit of the County; therefore, the Corporation is considered a blended component unit of the County. The Corporation has issued lease revenue bonds on behalf of the County. Since this debt is in substance the County’s obligation, these liabilities and resulting assets are reported on the County’s financial statements. Maricopa County Special Assessment Districts The Maricopa County Special Assessment Districts are legally separate entities that provide improvements to various properties within the County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Special Assessment Districts, it is able to significantly influence the activities or level of services provided by the Districts; therefore, the Districts are considered a blended component unit of the County. Maricopa County Stadium District The Maricopa County Stadium District is a legally separate entity pursuant to A.R.S. §48-4202 that provides regional leadership and fiscal resources to assure the presence of Major League Baseball in Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Stadium District, it is able to significantly influence the programs, projects, activities, or level of services provided by the District; therefore, the District is considered a blended component unit of the County. The Stadium District also issues separate financial statements. Complete financial statements for the Maricopa County Stadium District may be obtained at the entity’s administrative office listed below: Maricopa County Stadium District 401 East Jefferson Phoenix, Arizona 85004 www.maricopa.gov/stadiumdistrict/ Maricopa County Street Lighting Districts The Maricopa County Street Lighting Districts are legally separate entities that provide street lighting in areas of the County that are not under local city jurisdictions. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Street Lighting Districts, it is able to significantly influence the programs, projects, activities, or level of services provided by the District; therefore, the Districts are considered a blended component unit of the County. Housing Authority of Maricopa County The Housing Authority is a legally separate entity pursuant to A.R.S. §36-1404 that provides efficient and affordable rental housing to low-income households of Maricopa County. As the Maricopa County Board of Supervisors serves as the Housing Authority’s Board of Commissioners, it is able to significantly influence the programs, projects, activities, or level of services provided by the Housing Authority; therefore, the Housing Authority is a blended component unit of the County. The Housing Authority also issues separate financial statements which include three discretely presented component units, Rose Terrace Development Partnership, L.L.C., Rose Terrace Development Partnership Phase II, L.L.C, and Maricopa Revitalization Partnership, L.L.C. These component units are combined and reported with the Housing Authority as a single enterprise fund on Maricopa County’s financial statements. 41 Notes to the Financial Statements (Continued) Complete financial statements for the Housing Authority of Maricopa County and their component units may be obtained at the entity’s administrative office listed below: Housing Authority of Maricopa County th 8910 N. 78 Avenue, Building D Peoria, Arizona 85345 www.maricopahousing.org The discretely presented component unit is as follows: Industrial Development Authority of Maricopa County The Industrial Development Authority of Maricopa County (Authority) is a legally separate entity that was created to assist in the financing of commercial and industrial enterprises; safe, sanitary, and affordable housing; and healthcare facilities. The Authority fulfills its function through the issuance of tax exempt or taxable revenue bonds. The County Board of Supervisors appoints the Authority’s Board of Directors. The Authority’s operations are completely separate from the County and the County is not financially accountable for the Authority. All bonds issued by the Authority are special, limited obligations of the Authority, payable solely from revenues generated by the project being financed, and do not constitute debt of, a loan of, or credit by, the Authority. The Authority charges administration fees to bond applicants and uses such fees to cover its administration costs and to support its ongoing community and economic development in Arizona. The Authority is a specialpurpose governmental entity engaged in business type activities. Although the Authority is legally separate from the County, governmental accounting standards require the Authority to be reported as a discretely presented component unit of the County for financial reporting purposes as the County Board of Supervisors is able to impose its will on the Authority. Complete financial statements for the Industrial Development Authority of Maricopa County may be obtained at the entity’s administrative office listed below: Industrial Development Authority of Maricopa County th 301 W. Jefferson, 10 Floor Phoenix, Arizona 85003 www.mcida.com B. Basis of Presentation The basic financial statements include both government-wide statements and fund financial statements. The government-wide statements focus on the County as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information’s usefulness. Government-wide financial statements – provide information about the primary government (the County) and its component units. The statements include a statement of net position and a statement of activities. These statements report the overall government’s financial activities, except for fiduciary activities. They also distinguish between the County’s governmental and business-type activities and between the County and its discretely presented component units. Governmental activities generally are financed through taxes and intergovernmental revenues. Business-type activities are financed in whole or in part by fees charged to external parties. The statement of activities presents a comparison between direct expenses and program revenues for each function of the County’s governmental activities and segment of its business-type activities. Direct expenses are those that are specifically associated with a program or function and, therefore, 42 Notes to the Financial Statements (Continued) are clearly identifiable to a particular function. The County allocates indirect expenses to programs or functions. Program revenues include:  charges to customers or applicants for goods, services, or privileges provided;  operating grants and contributions; and  capital grants and contributions, including special assessments. Revenues that are not classified as program revenues, including internally dedicated resources, unrestricted grant revenues, and all taxes the County levies or imposes, are reported as general revenues. Generally, the effect of interfund activity has been eliminated from the government-wide financial statements to minimize the double counting of internal activities. However, charges for interfund services provided and used are not eliminated if doing so would distort the direct costs and program revenues reported by the departments concerned. Fund financial statements – provide information about the County’s funds, including fiduciary funds and blended component units. Separate statements are presented for the governmental, proprietary, and fiduciary fund categories. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds. Internal service and fiduciary funds are aggregated and reported by fund type. Proprietary fund revenues and expenses are classified as either operating or nonoperating. Operating revenues and expenses generally result from transactions associated with the fund’s principal activity. Accordingly, revenues, such as user charges, in which each party receives and gives up essentially equal values, are operating revenues. Other revenues, such as subsidies, result from transactions in which the parties do not exchange equal values and are considered nonoperating revenues along with investment earnings and revenues ancillary activities generate. Operating expenses include the cost of services, administrative expenses, and depreciation on capital assets. Other expenses, such as interest expense, are considered nonoperating expenses. The County reports the following major governmental funds: The General Fund – is the County’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The Detention Operations Fund – was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The County Improvement Debt Fund – accounts for the debt service on the Lease Revenue Bonds, Series 2007A; Lease Revenue Refunding Bonds, Series 2007B; Certificates of Participation, Series 2015; and other long-term obligations. This fund’s main revenue source is from transfers for the repayment of debt. The County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2015. 43 Notes to the Financial Statements (Continued) The Detention Capital Projects Fund – accounts for construction associated with the 1/5 of one-cent sales tax approved by voters in the General Election on November 3, 1998, and extended by the voters on November 5, 2002. Funding is provided by transfers from the Detention Operations Fund for construction of the adult and juvenile detention facilities. The General Fund County Improvements Fund – was established to fund current and future capital projects. Fund assets may be used to pay directly for capital projects or may be appropriated by the Board of Supervisors for debt service. Revenues in this fund consist mainly of transfers from the General Fund. None of the funds has been pledged for debt service, and fund assets may be transferred by the Board of Supervisors at any time for any other County purpose. The Technology Capital Improvement Fund – was established to account for General Fund and other resources committed for technology improvement projects. The County reports the following major enterprise fund: The Housing Authority Fund – accounts for the activities of the Housing Authority of Maricopa County. The County also reports the following fund types: The internal service funds – account for automotive maintenance and service, telecommunications services, printing and duplicating services, insurance services, self-insured employee benefits, and warehouse services provided to County departments or to other governments on a cost reimbursement basis. The investment trust fund – accounts for pooled assets the County Treasurer holds and invests on behalf of other governmental entities. The agency fund – accounts for assets the County holds as an agent for other governments and individuals. C. Basis of Accounting The government-wide, proprietary fund, and fiduciary fund financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. The agency funds are custodial in nature and do not have a measurement focus but utilize the accrual basis of accounting for reporting its assets and liabilities. Revenues are recorded when earned, and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Property taxes are recognized as revenue in the year for which they are levied. Grants and donations are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental funds in the fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when they become both measurable and available. The County considers all revenues reported in the governmental funds to be available if the revenues are collected within 60 days after year-end. The County’s major revenue sources that are susceptible to accrual are property taxes, intergovernmental, charges for services, and investment income. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, landfill closure and postclosure care costs, pollution remediation obligations, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they are due and payable. General capital asset acquisitions are reported as expenditures in governmental funds. Loan proceeds and acquisitions under capital lease agreements are reported as other financing sources. Under the terms of grant agreements, the County funds certain programs by a combination of grants and general revenues. Therefore, when program expenses are incurred, there are both restricted and unrestricted net position resources available to finance the program. For these types of 44 Notes to the Financial Statements (Continued) programs, the County applies grant resources to such programs before using general revenues. For all other programs, the County uses unrestricted revenues first. D. Cash and Investments For the statement of cash flows, the County’s cash and cash equivalents are considered to be cash on hand, demand deposits, cash and investments held by the County Treasurer, and only those highly liquid investments with a maturity of three months or less when purchased. Short-term debt investments, with remaining maturities of up to 90 days at the date of the financial statements, and nonparticipating interest-earning investment contracts are reported at amortized cost. All other investments are stated at fair value. E. Inventories The County accounts for its inventories in the governmental funds using the purchase method. Inventories of the governmental funds consist of expendable supplies held for consumption and are recorded as expenditures at the time of purchase. Amounts on hand at year-end are shown on the balance sheet as an asset for informational purposes only and as nonspendable fund balance to indicate that they do not constitute “available spendable resources.” These inventories are stated at weighted-average cost. Inventories of government-wide, the enterprise fund, and the internal service funds financial statements are recorded as assets when purchased and expensed when consumed. The amounts shown on the statement of net position for government-wide and the internal service funds are valued at cost using first-in, first-out and the moving average methods, respectively. F. Property Tax Calendar The County levies real property taxes and commercial personal property taxes on or before the third Monday in August that become due and payable in two equal installments. The first installment is due on the first day of October and becomes delinquent after the first business day of November. The second installment is due on the first day of March of the next year and becomes delinquent after the first business day of May. During the year, the County also levies mobile home personal property taxes that are due the second Monday of the month following receipt of the tax notice and become delinquent 30 days later. A lien assessed against real and personal property attaches on the first day of January preceding assessment and levy. G. Capital Assets Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the government-wide statements and the proprietary funds. Capital assets are defined as assets with an initial, individual cost of more than $5,000. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair value at the date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets’ lives are not capitalized. Property, plant, and equipment are depreciated using the straight-line method over the following estimated useful lives: Type of Assets Buildings and improvements Infrastructure Autos and trucks Other equipment Estimated Useful Life (In Years) 20 - 50 25 - 50 3 - 10 3 - 20 45 Notes to the Financial Statements (Continued) All infrastructure assets are reported on the government-wide financial statements. Infrastructure maintained by the County Department of Transportation consists of roadways, bridges and related assets. These assets are not depreciated as they are reported using the modified approach. Under the modified approach, the County’s roadway and bridge systems are being preserved at a specified condition level established by the County. For information on the modified approach, see Required Supplementary Information – Modified Approach for Infrastructure Assets. The Flood Control District accounts for the County’s remaining infrastructure assets consisting of drainage systems, dams, flood channels and canals. For the Department of Transportation’s infrastructure assets owned prior to fiscal year 2002, the County estimated their historical cost. The fair market value for right-of-way assets was estimated based on current regional land acquisitions and deflated by the trended growth rate, as determined by the County assessed valuation from the State of Arizona Department of Revenue Abstract of the Assessment Roll for vacant land, agriculture and government property not including legally exempt land. The fair market value for roadway system assets was estimated based on current construction costs and deflated using the Price Trends for Federal-Aid Highway Construction, published by the U.S. Department of Transportation, Federal Highway Administration, Office of Program Administration and Office of Infrastructure. Flood Control District infrastructure assets are accounted for using the straight-line depreciation method with a useful life between 25 and 50 years. For infrastructure assets owned prior to fiscal year 2002, the County used internal records, maintained by the Flood Control District, to estimate Flood Control’s historical cost for these assets. H. Deferred Outflows and Inflows of Resources The statement of net position and balance sheet include separate sections for deferred outflows of resources and deferred inflows of resources. Deferred outflows of resources represent a consumption of net position that applies to future periods that will be recognized as an expense or expenditure in future periods. Deferred inflows of resources represent an acquisition of net position or fund balance that applies to future periods and will be recognized as revenue in future periods. I. Pensions For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the pension plan’s fiduciary net position and additions to /deductions from the plan’s fiduciary net position have been determined on the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. J. Fund Balance Classifications The governmental funds’ fund balances are reported separately within classifications based on a hierarchy of the constraints placed on those resources’ use. The classifications are based on the relative strength of the constraints that control how the specific amounts can be spent. The classifications are nonspendable, restricted, and unrestricted, which includes committed, assigned, and unassigned fund balance classifications. The nonspendable fund balance classification includes amounts that cannot be spent because they are either not in spendable form, such as inventories, or are legally or contractually required to be maintained intact. Restricted fund balances are those that have externally imposed restrictions on their usage by creditors (such as through debt covenants), grantors, contributors, or laws and regulations. 46 Notes to the Financial Statements (Continued) The unrestricted fund balance category is composed of committed, assigned, and unassigned resources. Committed fund balances are self-imposed limitations the County’s Board of Supervisors approved, which is the highest level of decision-making authority within the County. Only the Board can remove or change the constraints placed on committed fund balances. Assigned fund balances are resources constrained by the County’s intent to be used for specific purposes, but that are neither restricted nor committed. Only the Board of Supervisors has authorization to assign fund balances. The unassigned fund balance is the residual classification for the General Fund and includes all spendable amounts not reported in the other classifications. Also, deficits in fund balances of the other governmental funds are reported as unassigned. The County’s policy is to account for most restricted and committed revenue sources (subject to legal restriction, etc.) by segregating them in a separate fund; however, by its nature, the General Fund may have several different classifications of fund balance. Therefore, when expending General Fund fund balance, if an expenditure is incurred that can be paid from either restricted or unrestricted fund balances, it is the County’s policy to use unrestricted fund balance first. For the disbursement of unrestricted fund balances, it is the County’s policy to use unassigned amounts first, followed by assigned amounts, and lastly committed amounts. K. Investment Income Investment income is composed of interest, dividends, and net changes in the fair value of applicable investments. L. Compensated Absences Compensated absences consist of vacation leave and a calculated amount of sick leave employees earned based on services already rendered. Employees may accumulate, and roll-over from year-toyear, up to 240 or 320 hours (depending on employee classification) of vacation leave, but any vacation hours in excess of the maximum amount that are unused at calendar year-end convert to sick leave. Upon terminating employment, all unused vacation benefits are paid to employees. Accordingly, vacation benefits are accrued as a liability in the financial statements. Employees may accumulate an unlimited number of sick leave hours. Generally, sick leave benefits provide for ordinary sick pay and are cumulative but employees forfeit them upon terminating employment. Because sick leave benefits do not vest with employees, a liability for sick leave benefits is not accrued in the financial statements. However, upon retirement, County employees with accumulated sick leave in excess of 1,000 hours are entitled to a $10,000 nontaxable investment in a Post-Employment Health Plan (PEHP) established pursuant to Internal Revenue Code §501(c)(9). The obligations vested at June 30, 2015, under this policy are accrued as a liability. Compensated absences are substantially paid within one year from fiscal year-end and, therefore, are reported as a current liability on the government-wide financial statements. A liability for these amounts is reported in the governmental funds’ financial statements only if they have matured, for example, as a result of employee resignations and retirements by fiscal year-end. 47 Notes to the Financial Statements (Continued) NOTE 2 – FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS The fund balance classifications of the governmental funds as of June 30, 2015, were as follows: Detention Operations Fund General Fund Fund balances: Nonspendable: Inventory Loan receivable Total nonspendable $ 2,405,417 15,000,000 17,405,417 Restricted for: Capital Projects Debt service Education Flood control Health and welfare Judicial activities Law enforcement Library District Other purposes Parks and recreation Social services Stadium District Transportation Waste management Total restricted $ 1,627,425 $ Detention Capital Projects Fund County Improvement Fund $ $ 1,627,425 120,476,072 9,713,542 41,816,814 41,816,814 Committed to: Capital projects Debt service Health and welfare Other purposes Total committed 193,567,442 9,713,542 120,476,072 193,567,442 $ 120,476,072 $ 193,567,442 6,735,191 6,735,191 Assigned to: General government Total assigned 82,953,184 82,953,184 Unassigned 16,042,494 Total fund balances County Improvement Debt Fund $ 116,401,095 $ 43,444,239 $ 16,448,733 (continued) 48 Notes to the Financial Statements (Continued) General Fund County Improvements Fund Fund balances: Nonspendable: Inventory Loan receivable Total nonspendable $ Technology Capital Improvement Fund $ $ Restricted for: Capital Projects Debt service Education Flood control Health and welfare Judicial activities Law enforcement Library District Other purposes Parks and recreation Social services Stadium District Transportation Waste management Total restricted Committed to: Capital projects Debt service Health and welfare Other purposes Total committed 320,075,103 320,075,103 Other Governmental Funds 3,270,083 3,270,083 7,302,925 15,000,000 22,302,925 4,292,573 3,563,007 34,297,456 22,479,060 21,226,764 57,253,750 15,018,939 9,291,868 4,886,253 124,509 20,655,033 98,989,672 2,729,533 294,808,417 120,476,072 14,006,115 3,563,007 34,297,456 22,479,060 21,226,764 292,638,006 15,018,939 9,291,868 4,886,253 124,509 20,655,033 98,989,672 2,729,533 660,382,287 251,793,618 128,809 251,793,618 8,852,508 4,114,632 13,095,949 Assigned to: General government Total assigned $ 571,997,530 6,735,191 8,852,508 4,114,632 591,699,861 82,953,184 82,953,184 (5,105,739) Unassigned Total fund balances Total $ 320,075,103 $ 251,793,618 $ 306,068,710 10,936,755 $1,368,275,012 Stabilization Arrangements – The Board of Supervisors has the authority to authorize and establish a stabilization arrangement by formal action. Subsequent modification, addition to, or expenditure from any stabilization arrangements also requires formal action by the Board of Supervisors, the highest level of decision-making authority within the County. At June 30, 2015, the General Fund did not have fund balances committed for budget stabilization. 49 Notes to the Financial Statements (Continued) NOTE 3 – REPORTING CHANGES Beginning in fiscal year 2015, the County established the County Improvement Fund (capital project fund), a major governmental fund and the Intergovernmental Technology Projects Fund (capital project fund), a non-major governmental fund. The County also renamed several funds to unify the fund names with the County’s Annual Business Strategies budget book. In addition, beginning in fiscal year 2015, the Industrial Development Authority (Authority) will be reported as a discretely presented component unit. Previously, the Industrial Development Authority was disclosed as a related organization. Although the Authority is legally separate from the County, governmental accounting standards require the Authority to be reported as a discretely presented component unit of the County for financial reporting purposes as the County Board of Supervisors is able to impose its will on the Authority. NOTE 4 – BEGINNING BALANCES RESTATED On July 1, 2014, Maricopa County restated beginning net position for governmental activities, businesstype activities, and internal service funds of ($1,221,559,979), ($3,908,731), and ($15,314,595), respectively, for the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. On July 1, 2014, Maricopa County restated governmental funds beginning balance and governmental activities beginning net position by ($998,129) for a prior period correction related to inventory of ($2,852,164) and $1,854,035 for the General Fund and Detention Operations Fund, respectively. Beginning net position was adjusted for the above, as follows: Net position reported as of June 30, 2014 Minus: General Fund inventory correction Plus: Detention Operations Fund inventory correction Prior period adjustment – Implementation of GASB 68: Minus: Net pension liability Plus: Deferred outflows – County contributions made during fiscal year 2014 Total prior period GASB 68 adjustment Net position as of July 1, 2014, as restated $ $ Total Governmental Funds $ 1,237,361,280 (2,852,164) 1,854,035 Governmental Activities 4,604,024,899 (2,852,164) 1,854,035 Business-type Activities $ 31,925,732 (1,313,813,872) (4,150,781) (16,287,746) 92,253,893 (1,221,559,979) 3,381,466,791 242,050 (3,908,731) 28,017,001 973,151 (15,314,595) $ 3,341,684 $ $ 1,236,363,151 Internal Service Funds $ 18,656,279 On July 1, 2014, Maricopa County restated beginning net position of the investment trust fund of ($170,548,443) and beginning assets and liabilities of the agency funds of $170,548,443 for a prior period correction related to fund-type classification. Beginning net position was adjusted for the above, as follows: Investment Trust Fund $ 2,273,952,499 (170,548,443) $ 2,103,404,056 Net position reported as of June 30, 2014 Less : funds reclassified to agency funds Net position as of July 1, 2014, as restated Beginning agency fund assets and liabilities were adjusted for the above, as follows Total assets/liabilities as of June 30, 2014 Plus : funds reclassified from Investment Trust Fund Total assets/liabilities as of July 1, 2014, as restated 50 Agency Funds 30,618,024 170,548,443 $ 201,166,467 $ Notes to the Financial Statements (Continued) NOTE 5 – RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS The Governmental Funds Balance Sheet includes the reconciliation between fund balances – total governmental funds and net position – Governmental Activities as reported in the government-wide Statement of Net Position. The details of this reconciliation follow: Fund balances – total governmental funds $ 1,368,275,012 Capital assets used in governmental activities are not financial resources and therefore, are not reported in the funds. 749,522,329 1,897,896,950 366,230,151 1,063,292,240 279,652,122 (883,188,663) 3,473,405,129 Land Buildings and improvements Machinery and equipment Infrastructure Construction in progress Accumulated depreciation Net governmental funds capital assets at June 30, 2015 Some receivables are not available to pay for current period expenditures and therefore, are reported as unavailable revenue in funds. 7,072,441 7,176,695 1,817,571 16,066,707 Unavailable revenue for property taxes receivable at June 30, 2015 Unavailable revenue for grant revenues receivable at June 30, 2015 Unavailable revenue for other revenues receivable at June 30, 2015 Internal service funds are used by management to charge the costs of equipment services, telecommunications, reprographics, risk management, employee benefits, and the sheriff warehouse to individual funds. The assets, deferred outflows of resources, liabilities, and deferred inflows of resources of the internal service funds are included in governmental activities in the Statement of Net Position. (23,930,321) Long-term liabilities and compensated absences are not due and payable shortly after June 30, 2015, and therefore, are not reported in the funds. (84,665,000) (185,580,000) (16,010,000) (32,246) (6,187,432) (16,046,812) (1,082,782) (73,625,907) (8,212,038) (1,442,289,972) (30,419) (1,833,762,608) Noncurrent lease revenue bonds due in more than one year at June 30, 2015 Certificates of participation due in more than one year at June 30, 2015 Stadium District revenue bonds payable at June 30, 2015 Special assessment debt with governmental commitment payable at June 30, 2015 Governmental funds capital leases payable at June 30, 2015 Bond premium unamortized at June 30, 2015 Claims and judgments at June 30, 2015 Governmental funds compensated absences payable at June 30, 2015 Liability for closure and postclosure costs at June 30, 2015 Net pension liability at June 30, 2015 Accrued interest payable at June 30, 2015 Deferred outflows and inflows of resources related to pensions and deferred charges on debt refundings are applicable to future reporting periods and, therefore, are not reported in the funds. Deferred outflows of resources related to pensions at June 30, 2015 Deferred inflows of resources related to pensions at June 30, 2015 Deferred charges on debt refunding at June 30, 2015 303,659,448 (154,033,605) 201,151 149,826,994 $ Net position of governmental activities 51 3,149,880,913 Notes to the Financial Statements (Continued) The governmental fund reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances is a reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide Statement of Activities. The details of this reconciliation follow: Net change in fund balances – total governmental funds $ 130,668,246 Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. Governmental funds capital outlay Government-wide depreciation expense for the year ended June 30, 2015 Add: Internal service funds depreciation expense for the year ended June 30, 2015 162,865,661 (86,923,464) 1,161,425 77,103,622 The net effect of various miscellaneous transactions involving capital assets is to decrease net position. Donations of capital assets Net value of disposed capital assets for the year ended June 30, 2015 Adjustment for net value of assets acquired in prior years 10,256,689 (148,722,909) 5,981,293 (132,484,927) Collections of certain revenues in the governmental funds exceeded revenues reported in the Statement of Activities. Also, revenue in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. Grant revenues earned during the year ended June 30, 2015 Collections of property taxes plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2015 Other revenue earned during the year ended June 30, 2015 2,890,030 (552,686) 14,295,614 16,632,958 County pension contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension liability is measured a year before the County’s report date. Pension expense, which is the change in the net pension liability adjusted for changes in deferred outflows and inflows of resources related to pensions, is reported in the Statement of Activities. County pension contributions Pension expense 98,102,669 (201,560,825) (103,458,156) The issuance of long-term debt (e.g., bonds, leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is issued, whereas these amounts are amortized in the Statement of Activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. Principal payments on lease revenue bonds Proceeds from issuance of certificates of participation Principal payments on Stadium District revenue bonds Principal payments on special assessment debt with governmental commitment Proceeds from capital leases Principal payments on capital leases Net increase in bond premium Amortization of bond premium Amortization of deferred charges on debt refunding Accrued interest payable on long-term debt 12,470,000 (185,580,000) 3,250,000 12,880 (8,329,091) 2,141,659 (15,633,417) 146,313 (322,326) 6,175 (191,837,807) Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds. Net increase in employee compensation payable Increase in inventories Net decrease in claims and judgments Net decrease in liability for closure and postclosure costs (2,668,702) 1,243,615 463,264 24,014 (937,809) Internal service funds are used by management to charge the costs of equipment services, telecommunications, reprographics, risk management, employee benefits, and the sheriff warehouse to individual funds. The net expense of internal service funds is reported with governmental activities. (27,272,005) $ Change in net position of governmental activities 52 (231,585,878) Notes to the Financial Statements (Continued) NOTE 6 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY At June 30, 2015, the following governmental and proprietary funds reported deficits in fund balance or net position. FUND DEFICIT Governmental Funds: Adult Probation Grants Air Quality Grants CDBG Housing Trust Clerk of the Court Grants County Attorney Grants Emergency Management Human Services Grants Non-Departmental Grants Parks and Recreation Grants Public Defender Grants Public Health School Grants Sheriff Grants Superior Court Fill the GAP Superior Court Grants Transportation Grants Proprietary Funds: Equipment Services Technology Infrastructure Reprographics Risk Management $ 139,681 29,612 183,893 5,648 254,287 110,355 1,388,194 772 786 5,979 470,943 217,779 730,620 55,309 44,418 10,459 $ 129,740 15,188 327,883 39,814,882 The deficits in fund balances for Adult Probation Grants, Air Quality Grants, CDBG Housing Trust, Clerk of the Court Grants, County Attorney Grants, Emergency Management, Human Services Grants, NonDepartmental Grants, Parks and Recreation Grants, Public Defender Grants, Public Health, School Grants, Sheriff Grants, Superior Court Grants and Transportation Grants Funds were attributed to the deferring of certain grant revenues. The County accrues grant revenue received within 60 days after yearend, as it is available and measurable. Revenues received after 60 days are considered not available and are therefore not accrued. As of June 30, 2015, Equipment Services, Technology Infrastructure, and Reprographics Funds had deficit net positions of $129,740, $15,188 and $327,883, respectively. This is primarily due to the reporting of noncurrent net pension liabilities as a result of the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions (see Note 1 for additional information). The Risk Management Fund’s funding plan calls for the fiscal year ending cash balance to equal the next year’s estimated claims and claims related expenses. As of June 30, 2015, the total net position deficit was $39,814,882. This is primarily due to the Risk Management Fund not being funded for noncurrent accrued claim liabilities. The fund balance deficit for the Superior Court Fill the GAP Fund resulted from operations during the year and is expected to be corrected during normal operations in fiscal year 2016. NOTE 7 – DEPOSITS AND INVESTMENTS Arizona Revised Statutes (A.R.S.) authorize the County to invest public monies in the State Treasurer’s investment pool; obligations issued or guaranteed by the United States or any of the senior debt of its agencies, sponsored agencies, corporations, sponsored corporations, or instrumentalities; specified state and local government bonds, notes, and other evidences of indebtedness; interest-earning investments 53 Notes to the Financial Statements (Continued) such as savings accounts, certificates of deposit, and repurchase agreements in eligible depositories; specified commercial paper issued by corporations organized and doing business in the United States; specified bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars; and certain open-end and closed-end mutual funds, including exchange traded funds. In addition, the County Treasurer may invest trust funds in certain fixed income securities of corporations doing business in the United States or District of Columbia. Credit risk Statutes have the following requirements for credit risk: 1. Commercial paper must be of prime quality and be rated within the top two ratings by a nationally recognized rating agency. 2. Bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars must be rated “A” or better at the time of purchase by at least two nationally recognized rating agencies. 3. Fixed income securities must carry one of the two highest ratings by Moody’s investors’ service and Standard and Poor’s rating service. If only one of the above-mentioned services rates the security, it must carry the highest rating of that service. Custodial credit risk Statutes require collateral for deposits at 102 percent of all deposits federal depository insurance does not cover. Concentration of credit risk Statutes do not include any requirements for concentration of credit risk. Interest rate risk Statutes require that public monies invested in securities and deposits have a maximum maturity of 5 years. However, the Stadium District is allowed by a separate statute to invest monies, not held for operations, in eligible investments with a maturity of greater than 5 years. The maximum maturity for investments in repurchase agreements is 180 days. Foreign currency risk Statutes do not allow foreign investments, unless the investment is denominated in United States dollars. Deposits - At June 30, 2015, the carrying amount of the County’s deposits was $640,848,526 and the bank balance was $667,067,313. It is the County’s investment policy to collateralize all deposits not covered by depository insurance in accordance with Statutes. At a minimum, the collateral is to be held by the pledging financial institution or its agent, but does not have to be held in the County’s name. At June 30, 2015, $9,159,600 of the County’s bank balance was exposed to custodial credit risk as follows: Uninsured with collateral held by the pledging financial institution’s trust department or agent but not in the County’s name Investments – The County’s investments at June 30, 2015, were as follows: Investment Type U.S. Treasury securities U.S. agency securities School bonds School tax anticipation notes short-term Mutual funds with trustee Other investments $ $ 54 Amount 170,229,400 2,547,631,031 181,423,471 225,022,027 26,247,462 701,227 3,151,254,618 $ 9,159,600 Notes to the Financial Statements (Continued) The $701,227 of other investments are related to the Public Fiduciary, which invests in equities, mutual funds, U.S. Treasury securities, and other types of investments as directed by court order. As these investment amounts are immaterial, no deposits or investment risk (credit risk, custodial credit risk, concentration of credit risk, and interest rate risk) disclosures will be reported for these investments. Credit risk – It is the County’s investment policy to preserve the principal value and the interest income of an investment. The County can invest in obligations issued or guaranteed by the United States or any of the senior debt of its agencies, sponsored agencies, corporations, or instrumentalities. The County can also invest in commercial paper and corporate bonds with ratings that meet the statutory requirements specified above. At June 30, 2015, credit risk for the County’s investments was as follows: Investment Type U. S. agency securities U. S. agency securities U. S. agency securities School bonds School tax anticipation notes short-term Mutual funds with trustee Rating Rating Agency Aaa AA+ P-1 Unrated Unrated Aaa-mf Moody’s S&P Moody’s Not applicable Not applicable Moody’s Amount $ $ 1,035,526,631 79,952,700 1,432,151,700 181,423,471 225,022,027 26,247,462 2,980,323,991 The $181,423,471 and $225,022,027 of unrated school bonds and tax anticipation notes, respectively, are issued by various school districts that deposit their monies with the County Treasurer. Custodial credit risk – For an investment, custodial credit risk is the risk that, in the event of the counterparty’s failure, the County will not be able to recover the value of its investments or collateral securities that are in an outside party’s possession. It is the County’s investment policy that all of the Treasurer’s securities be held by the agent or trust department and in the County’s name. At June 30, 2015, the County did not have investments exposed to custodial credit risk. Concentration of credit risk – It is the County’s investment policy to preserve the principal value of its investments. However, due to the limited investments allowed under statutes and the desire to preserve the principal value, the County’s investments may have a concentration of credit risk of more than 5 percent of total investments in one issuer. Five percent or more of the County’s investments at June 30, 2015, were in the Federal Home Loan Bank (FHLB), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Farm Credit Banks (FFCB). These investments were 45.4 percent, 23.5 percent, and 7.2 percent, respectively, of the County’s total investments. Interest rate risk – It is the County’s investment policy to hold investments to maturity, where practical, and avoid any loss on investments resulting from an early sale or retirement of an investment. Additionally, securities should be invested for a shorter duration, where applicable. At June 30, 2015, the County had the following investments in debt securities: Investment Type U.S. Treasury securities U.S. agency securities School bonds School tax anticipation notes short-term Mutual funds with trustee Investment Maturities Less than 1–5 1 Year Years Amount $ 170,229,400 2,547,631,031 181,423,471 225,022,027 26,247,462 $ 3,150,553,391 $ 60,002,900 1,608,931,834 40,232,179 225,022,027 26,247,462 $ 1,960,436,402 $ 110,226,500 938,699,197 141,191,292 $ 1,190,116,989 Foreign currency risk – The County does not have a formal investment policy with respect to foreign currency risk because State statutes do not allow foreign investments. 55 Notes to the Financial Statements (Continued) A reconciliation of cash, deposits, and investments to amounts shown on the Statements of Net Position follows: Cash, deposits and investments: Cash on hand $ 181,822 Amount of deposits 640,848,526 Amount of investments 3,151,254,618 Total $ 3,792,284,966 Governmental Business-type Investment Agency Activities Activities Trust Fund Fund Total Statement of Net Position: Cash in bank and on hand $ 32,420,815 $ 3,505,543 $ $ $ Cash and investments in bank and on hand Cash and investments held by County Treasurer 1,316,297,484 2,257,648,203 Cash and cash equivalents - restricted 32,706,358 112,672,792 3,686,618,479 1,625,951 1,625,951 35,407,820 Cash and investments held by trustee Total 35,926,358 32,706,358 35,407,820 $ 1,384,126,119 $ 5,131,494 $ 2,257,648,203 $ 145,379,150 $ 3,792,284,966 NOTE 8 – CONDENSED FINANCIAL STATEMENTS OF COUNTY TREASURER’S INVESTMENT POOL Arizona Revised Statutes require community colleges, school districts, and other local governments to deposit certain public monies with the County Treasurer. The Treasurer has a fiduciary responsibility to administer those and the County’s monies under his stewardship. The Treasurer invests, on a pool basis, all idle monies not specifically invested for a fund or program. In addition, the Treasurer determines the fair value of those pooled investments monthly and at June 30. The County Treasurer’s investment pool is not registered with the Securities and Exchange Commission as an investment company and there is no regulatory oversight of its operations. The pool’s structure does not provide for shares, and the County has not provided or obtained any legally binding guarantees to support the value of the participants’ investments. The Treasurer allocates interest earnings to each of the pool’s participants. However, for the County’s monies in the pool, the Board of Supervisors authorized $2,637,781 of interest earned in certain other funds to be transferred to the General Fund. The deposits and investments held by the County are included in the County Treasurer’s investment pool, except for $176,822 of cash on hand, $78,540,975 of deposits, $26,247,462 of mutual funds with trustee, and $701,227 of other investments. Therefore, the deposit and investment risks of the Treasurer’s investment pool are substantially the same as the County’s deposit and investment risks. See Note 7 – Deposits and Investments for disclosure of the County’s deposit and investment risks. Details of each major investment classification follow: Investment Type U. S. Treasury securities U. S. agency securities School bonds School tax anticipation notes short-term Principal $ 169,933,594 2,546,868,692 190,397,449 225,524,250 56 Interest Rates Maturities 0.25 – 0.75% 0.00 – 1.50% 0.58 – 5.96% 0.62% 12/15 – 6/17 7/15 – 12/18 7/15 – 7/19 7/15 Reported Amount $ 170,229,400 2,547,631,031 181,423,471 225,022,027 Notes to the Financial Statements (Continued) A condensed statement of the investment pool’s net position and changes in net position follows: Statement of Net Position Assets Liabilities Net position Net position held in trust for: Internal participants External participants Total net position held in trust $ 3,692,307,818 $ 3,692,307,818 $ 1,318,461,233 2,373,846,585 3,692,307,818 $ Statement of Changes in Net Position Total additions Total deductions Net increase (decrease) Net position held in trust: July 1, 2014 June 30, 2015 $ $ 4,637,833,336 4,408,985,998 228,847,338 $ 3,463,460,480 3,692,307,818 NOTE 9 – RECEIVABLES Receivables as of year-end for the County’s individual major funds and nonmajor funds in the aggregate are shown as follows. Taxes receivable does not have an allowance for uncollectible taxes, as the amount is considered immaterial. All other receivables are considered collectible. Governmental Funds Detention Operations Fund General Fund Receivables: Taxes Accounts Accrued interest Special assessments Total receivables $ $ 9,263,474 36,944 1,254,776 $ 10,555,194 $ Other Governmental Funds $ 1,167,255 $ 405,506 23,145 1,595,906 396,437 396,437 Total $ $ 10,430,729 36,944 2,056,719 23,145 12,547,537 NOTE 10 – DUE FROM OTHER GOVERNMENTAL UNITS Amounts due from other governmental units at June 30, 2015, of $165,494,097 as reported on the Governmental Funds balance sheet, include $80,704,411, $6,073,952, and $16,985,210 in state-shared revenues for sales taxes, vehicle license taxes, and highway user taxes, respectively; $23,575,823, $1,133,557, and $813,853 in jail tax, waste tire surcharge, and rental car surcharge, respectively, collected by the State but not received by the County; $28,877,257 in various Federal and State grants; $3,659,464 due from other governments for prisoner detention and police services; $2,264,344 due from cities and towns and other governmental units for Flood Control District and Transportation Department intergovernmental agreements; and $34,722 of miscellaneous due from the State. In addition, the County reported $1,371,504 for debt service reimbursements due from the Maricopa County Special Health Care District (District), a separate legal entity. The amount is reported in the County Improvement Debt Fund. As a result of the transition of the Maricopa County Medical Center to the District on January 1, 2005, the Maricopa County Medical Center transferred long-term debt obligations (lease revenue bonds, certificates of participation and installment purchase agreements) to the County. The District will pay the debt obligations per the terms of an Intergovernmental Agreement which coincide with the future principal and interest payments on July 1, 2015. 57 Notes to the Financial Statements (Continued) NOTE 11 – INTERGOVERNMENTAL LOANS At June 30, 2015, the County reported intergovernmental loans of $16,585,501. This amount consists of outstanding principal of $15,433,000 and accrued interest of $1,152,501 for an intergovernmental loan to the Maricopa County Special Health Care District, a separate legal entity. On July 1, 2005, the County provided a $15,433,000 ten-year loan to the Maricopa County Special Health Care District. The terms of the loan, as outlined in the Second Amendment to the Assistance Package Intergovernmental Agreement dated September 3, 2013, include the first five years interest free until August 1, 2010, with interest accruable for the second five-year period at the rate earned by the County Treasurer on August 1, 2010. The balance of the loan was due August 1, 2015, but was subsequently amended to include a payment plan over the next three years. NOTE 12 – CAPITAL ASSETS Capital asset activity for the year ended June 30, 2015 was as follows: Balance July 1, 2014 Governmental activities: Nondepreciable assets: Land Construction in progress Infrastructure $ Total capital assets not being depreciated Depreciable assets: Buildings and improvements Machinery and equipment Infrastructure Total Less accumulated depreciation for: Buildings and improvements Machinery and equipment Infrastructure Total Total capital assets being depreciated, net Increase 754,229,626 385,295,337 715,579,904 $ 11,868,838 130,560,930 12,576,261 $ 749,522,329 279,652,122 726,928,541 254,007,904 1,756,102,992 1,874,200,974 366,712,855 272,688,101 2,513,601,930 28,494,827 39,051,832 63,675,598 131,222,257 4,798,851 24,121,797 1,897,896,950 381,642,890 336,363,699 2,615,903,539 468,561,836 273,477,058 93,830,235 835,869,129 47,317,401 33,086,979 6,519,084 86,923,464 4,743,160 22,857,422 27,600,582 511,136,077 283,706,615 100,349,319 895,192,011 1,677,732,801 44,298,793 1,320,066 1,720,711,528 3,532,837,668 $ Business-type activities: Nondepreciable assets: Land Construction in progress Total capital assets not being depreciated $ 4,737,544 1,853,543 6,591,087 $ 199,304,822 337,818 337,818 Depreciable assets: Buildings and improvements Machinery and equipment Total 68,090,653 1,170,073 69,260,726 2,581,423 Less accumulated depreciation for: Buildings and improvements Machinery and equipment Total $ 16,576,135 236,204,145 1,227,624 155,006,029 $ Business-type activities capital assets, net $ 1,855,104,867 Governmental activities capital assets, net Total capital assets being depreciated, net Balance June 30, 2015 Decrease 28,920,648 $ 255,327,970 $ 3,476,814,520 $ 49,999 2,178,995 2,228,994 $ 4,687,545 12,366 4,699,911 2,581,423 241,814 87,938 329,752 70,430,262 1,082,135 71,512,397 41,468,886 846,304 42,315,190 1,983,782 40,485 2,024,267 178,070 86,154 264,224 43,274,598 800,635 44,075,233 26,945,536 557,156 65,528 27,437,164 894,974 2,294,522 33,536,623 $ 58 $ 32,137,075 Notes to the Financial Statements (Continued) The County pledged certain governmental activities land and buildings as collateral for various lease revenue bonds. See Note 14 – Long-term Liabilities for additional information regarding outstanding bonds at June 30, 2015. Depreciation expense was charged to functions as follows: Government activities: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Internal service funds Total governmental activities depreciation expense $ 28,887,030 38,671,149 4,722,298 3,081,570 10,217,930 182,062 1,161,425 $ 86,923,464 Business-type activities Housing Authority Total business-type activities depreciation expense $ $ 2,024,267 2,024,267 NOTE 13 – CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS At June 30, 2015, Maricopa County had the following major contractual commitments related to various capital projects. Commitments have been grouped into four major categories: Transportation Construction Projects, Flood Control Construction Projects, Technology Improvement Projects, and Construction of Various County Facilities. Transportation Construction Projects At June 30, 2015, the Maricopa County Transportation Department had contractual commitments of $8,697,001 for construction of various roadway projects. At June 30, 2015, the County had spent $46,151,047 on these projects and had related estimated cost of completion based on the project budgets of $364,102,780 of which not all projects may be completed. Funding for these expenditures will be provided from Highway User Fuel Tax, the primary source of revenue for the Transportation Department. These projects are accounted for in the Transportation Capital Projects Fund (nonmajor governmental fund). Flood Control Construction Projects At June 30, 2015, the Maricopa County Flood Control District had contractual commitments of $21,681,706 for the construction of various flood control projects. At June 30, 2015, the County had spent $134,758,233 on these projects and had related estimated cost of completion based on the project budgets of $242,188,000, of which not all projects may be completed. Funding for these expenditures will be provided from the Flood Control District’s tax levy of property within Maricopa County, the primary source of revenue for the Flood Control District. These projects are accounted for in the Flood Control Capital Projects Fund (nonmajor governmental fund). Technology Improvement Projects At June 30, 2015, Maricopa County had contractual commitments of $106,924,880, including retention payable, related to major capital projects accounted for in the Capital Improvement Fund (major governmental fund), which are financed primarily by the Certificates of Participation, Series 2015. At June 30, 2015, the County had spent $100,454,247 on these projects and had related estimated cost of completion based on the project budgets of $160,969,956, of which not all projects may be completed. At June 30, 2015, Maricopa County had contractual commitments of $12,084,904, including retention payable, related to major capital projects accounted for in the Technology Capital Improvement Fund (major governmental fund) and Detention Technology Capital Improvement Fund (nonmajor governmental fund) and funded predominantly through transfers from the General Fund and Detention 59 Notes to the Financial Statements (Continued) Operations Fund, respectively. At June 30, 2015, the County had spent $5,917,117 on these projects and had related estimated cost of completion based on the project budgets of $30,835,696, of which not all projects may be completed. Construction of Various County Facilities At June 30, 2015, Maricopa County had contractual commitments of $742,502 related to major capital projects accounted for in the Capital Improvement Fund (major governmental fund), which are financed primarily by the Certificates of Participation, Series 2015. At June 30, 2015, the County had spent $1,349,458 on these projects and had related estimated cost of completion based on the project budgets of $28,650,542, of which not all projects may be completed. At June 30, 2015, Maricopa County had contractual commitments of $1,369,288, including retention payable, relating to major capital projects accounted for in the General Fund County Improvements Fund and Detention Capital Projects Fund (major governmental funds) and funded predominantly through transfers from the General Fund and Detention Operations Fund, respectively. At June 30, 2015, the County had spent $3,321,125 on these projects and had related estimated cost of completion based on the project budgets of $5,515,349, of which not all projects may be completed. NOTE 14 – LONG-TERM LIABILITIES The following schedule details the County’s long-term liability and obligation activity for the year ended June 30, 2015: Balance July 1, 2014, As restated Governmental activities: Bonds, COPS, and other payables: Lease revenue bonds Certificates of participation Stadium District revenue bonds Special assessment debt with governmental commitment Capital Leases $ 108,975,000 Additions $ Balance June 30, 2015 Reductions $ 11,840,000 $ 185,580,000 19,260,000 3,250,000 49,465 97,135,000 185,580,000 16,010,000 $ 12,470,000 12,481 4,283,318 20,090,799 3,325,000 128,284,465 559,708 8,329,091 193,909,091 15,633,417 15,094,738 146,313 44,727 8,329,091 307,098,818 16,046,812 128,844,173 209,542,508 15,241,051 323,145,630 20,090,799 1,546,046 63,490 526,754 1,082,782 1,082,782 77,147,456 151,271,479 145,112,194 83,306,741 33,004,331 8,236,052 517,419 541,433 8,212,038 718,149 1,313,813,872 392,303,033 248,898,096 1,457,218,809 1,400,743,426 544,155,421 395,078,477 1,549,820,370 34,805,262 $ 1,529,587,599 $ 753,697,929 $ 410,319,528 $ 1,872,966,000 $ 54,896,061 $ 1,792,280 3,667,473 914,178 4,150,781 $ $ $ 1,792,280 4,071,132 569,111 3,713,222 $ 58,219 69,218 34,015 10,524,712 $ $ 10,145,745 $ 161,452 Plus: premium Total bonds, COPS, and other payables 4,738 Due Within One Year Other liabilities: Claims and judgments Reported and incurred but not reported claims Liability for closure and postclosure costs Net pension liabilities Total other liabilities Governmental activities long-term liabilities Business-type activities: Capital leases, loans, and other payables: Capital Leases Loans payable Other long-term debt Net pension liabilities Business-type activities long-term liabilities $ 468,781 174,707 36,473 679,961 65,122 519,774 474,032 $ 1,058,928 On July 1, 2014, the County restated governmental and business-type activities beginning long-term liabilities balances by $1,313,813,872 and $4,150,781, respectively, for the inclusion of net pension liabilities as a result of the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. See Note 4 – Beginning Balances Restated for additional information. 60 Notes to the Financial Statements (Continued) Bonds, loans, and other payables were as follows at June 30, 2015: Lease Revenue Bonds On May 23, 2007, the Maricopa County Public Finance Corporation issued $108,100,000 of Lease Revenue Bonds to pay for the acquisition, construction, and renovation of the Durango Animal Care and Control Facility; Southeast, Southwest, San Tan, One West Madison and Sunnyslope Justice Court Facilities; and Central Court Building. Under the terms of the bond indentures, the Corporation received the proceeds to construct and purchase these assets and the County will make lease payments to extinguish the debt. Lease payments will equal the aggregate amount of principal and interest due at that date. Upon the final lease payment, the title to the assets will transfer to the County. The County’s obligation to make lease payments will be subject to and dependent upon annual appropriations being made by the County. Bonds maturing on and after July 1, 2017, are subject to optional redemption in increments of $5,000 on July 1, 2016, or any date thereafter, at par plus accrued interest to the date fixed for redemption. In the event of nonappropriation, the bonds would be subject to special redemption at par plus accrued interest to the redemption date. The bonds are secured by the collateralization of certain County assets. On May 23, 2007, the Maricopa County Public Finance Corporation issued Lease Revenue Refunding Bonds, Series 2007B, for $32,840,000 (par value) with interest rates ranging from 4% to 5% and maturing from July 1, 2012 to July 1, 2015. The net bond proceeds were $34,414,011, which included a reoffering premium of $973,843, County contributions of $860,000, and cost of issuance of $259,831. The net proceeds, were used to advance refund the Lease Revenue Bonds, Series 2001, of $32,215,000. The advance refunded bonds were redeemed July 1, 2011. The bonds are secured by the collateralization of certain County assets. The following Lease Revenue Bonds were outstanding as of June 30, 2015: DESCRIPTION AMOUNT OF ISSUE INTEREST RATES MATURITY DATES 2007A Lease Revenue Bonds 2007B Lease Revenue Refunding Bonds $ 108,100,000 32,840,000 3.50 – 5.00% 4.00% 7-1-15/31 7-1-15 Total $ 140,940,000 OUTSTANDING AT JUNE 30, 2015 $ 88,155,000 8,980,000 $ 97,135,000 Annual debt service requirements to maturity for the County’s Lease Revenue Bonds are as follows: Governmental Activities Year Ending June 30 2016 Principal $ Interest 12,470,000 $ Total 4,016,330 $ 16,486,330 2017 3,660,000 3,657,980 7,317,980 2018 3,845,000 3,470,355 7,315,355 2019 4,040,000 3,273,230 7,313,230 2020 4,240,000 3,087,430 7,327,430 2021-25 24,235,000 12,241,620 36,476,620 2026-30 30,565,000 5,819,825 36,384,825 2031-32 14,080,000 497,000 Total $ 97,135,000 $ 36,063,770 14,577,000 $ 133,198,770 Certificates of Participation On June 25, 2015, Maricopa County issued $185,580,000 of Certificates of Participation to pay for the acquisition of capital equipment and various capital projects. Some of the larger projects include: Public Radio System, Technology Infrastructure Refresh, Southwest Justice Courts, Enterprise Resource Planning System, and the Enterprise Data Center. The 2015 Certificates were executed and delivered under a trust agreement, dated June 1, 2015. Certificates of participation represent proportionate interests in semiannual lease payments. The County’s obligation to make lease payments is subject to annual appropriations made by the County for that purpose. The certificates have interest rates ranging 61 Notes to the Financial Statements (Continued) from 3.0 to 5.0 percent, payable semiannually on January 1 and July 1 each year through 2018. The certificates are secured by the collateralization of certain County assets. The following certificates of participation were outstanding at June 30, 2015: DESCRIPTION AMOUNT OF ISSUE Certificates of Participation, Series 2015 $ 185,580,000 INTEREST RATES MATURITY DATES 3.0 – 5.0% 7-1-17/18 OUTSTANDING AT JUNE 30, 2015 $ 185,580,000 Annual debt service requirements to maturity for certificates of participation are as follows: Year Ending June 30 2016 2017 2018 2019 Total Governmental Activities Principal Interest $ $ 4,432,483 8,579,000 90,625,000 6,413,375 94,955,000 2,123,875 $ 185,580,000 $ 21,548,733 Stadium District Revenue Bonds Stadium District Revenue Refunding Bonds are special obligations of the District. The bonds are payable solely from pledged revenues, consisting of auto rental surcharges levied and collected by the Stadium District pursuant to A.R.S. §48-4234. Under the statute, the Stadium District may set the surcharge at $2.50 on each lease or rental of a motor vehicle licensed for hire, for less than one year, and designed to carry fewer than 15 passengers, regardless of whether such vehicle is licensed in the State of Arizona. The Stadium District Board of Directors initially levied a surcharge at a rate of $1.50 beginning in January 1992 and increased the surcharge to $2.50, the maximum amount permitted by statute, in January 1993. The District has pledged future auto rental surcharge revenue to repay the $25,140,000 in revenue refunding bonds, which were issued in September 2012. Proceeds from the bond issuance provided financing to refund previously issued bonded debt for the construction of Cactus League facilities. The bonds do not constitute a debt or a pledge of the faith or credit of Maricopa County, the State of Arizona, or any other political subdivision. The payment of the bonds is enforceable solely out of the pledged revenues and no owner shall have any right to compel any exercise of taxing power of the District, except for surcharges. Total principal and interest remaining to be paid on the bonds is $17,008,070, payable through June 2019. Principal and interest paid for the current year and total auto rental surcharge revenues were $3,689,128 and $4,915,665, respectively. The Stadium District had the following revenue bonds outstanding at June 30, 2015: DESCRIPTION AMOUNT OF ISSUE 2012 Revenue Refunding Bonds $ INTEREST RATES MATURITY DATES 2.28% 6-01-2019 25,140,000 OUTSTANDING AT JUNE 30, 2015 $ Annual debt service requirements to maturity for Stadium District bonds are as follows: Governmental Activities Year Ending June 30 2016 2017 2018 2019 Total $ $ 62 Principal 3,325,000 3,405,000 3,480,000 5,800,000 16,010,000 Interest 365,028 289,218 211,584 132,240 $ 998,070 $ 16,010,000 Notes to the Financial Statements (Continued) Capital Leases The County has entered into various lease-purchase agreements, which are non-cancellable, for the acquisition of the following equipment: Governmental Activities Construction in Progress - Computer Systems and Equipment $ 1,357,633 Total Capital Assets Accumulated Depreciation 1,357,633 - Net Value of Leased Capital Assets $ 1,357,633 These lease-purchase agreements require the County to pay all maintenance costs. At the time of the final principal and interest payments, title to the leased equipment transfers to the County. These leases are contingent on budgetary appropriations each fiscal year. The assets are capitalized at total principal cost. The following schedule details debt service requirements to maturity for the County’s capital leases payable at June 30, 2015. Year Ending June 30 2016 2017 2018 Total minimum lease payments Amount representing interest Present value of net minimum lease payments Governmental Activities $ 4,283,318 2,141,659 2,141,659 8,566,636 (237,545) $ 8,329,091 The present value of net minimum lease payments at June 30, 2015, of $8,329,091 exceeds the total capital assets of $1,357,633 because a significant portion of the assets acquired through capital leases are for computer related equipment that is below the County’s capitalization threshold. Housing Authority of Maricopa County Capital Leases Obligation The Housing Authority of Maricopa County entered into a long-term lease commitment for equipment that has been accounted for as a capital lease. The lease obligation is part of a U.S. Department of Housing and Urban Development approved Energy Performance Contract (EPC) that provides for continued Public Housing funding and certain incentives for increasing the energy efficiency of Public Housing Units. The assets are currently capitalized as Building Improvements with a cost of $1,792,280, less accumulated depreciation of $90,165, for a carrying value of $1,702,115. At June 30, 2015, the balance on this obligation is $1,792,280. Annual debt service requirements to maturity for Housing Authority capital lease obligations are as follows: Year Ending June 30 2016 2017 2018 2019 2020 2021-25 2026-30 Total Business-type Activities Interest Total $ 66,283 $ 124,502 64,130 129,027 61,730 133,716 59,068 138,574 56,127 143,607 225,573 800,125 99,633 955,273 $ 632,544 $ 2,424,824 Principal $ 58,219 64,897 71,986 79,506 87,480 574,552 855,640 $ 1,792,280 63 Notes to the Financial Statements (Continued) Housing Authority of Maricopa County Loans Payable The Housing Authority of Maricopa County’s Component Unit, Maricopa Revitalization Partnership, L.L.C., has a promissory note payable to Community Service of Arizona, Inc. The note bears an interest rate of 0.50% and is collateralized by investment in real estate. The balance on this note shall be paid at the earlier of the date of sale of the property; breach of covenant, condition or restriction; or 15 years after the date of the project completion. At June 30, 2015, the balance on this note was $ 570,000. The Housing Authority of Maricopa County’s Component Unit, Rose Terrace Development Partnership Phase II, L.L.C., has a promissory note payable to Mutual of Omaha Bank. The note bears an interest rate of 8.75% and is collateralized by investment in real estate. Monthly principal and interest payments of $3,744 will continue through February 2020, at which time a balloon payment of $363,157 is due. At June 30, 2015, the balance on this note was $395,458. On December 21, 2012, the Housing Authority of Maricopa County’s Component Unit, Rose Terrace Development Partnership, L.L.C., entered into a promissory note payable with First Bank. The note bears interest at 4.75% through January 1, 2018, and then increases to the greater of 6.00% or the 5-year Treasury Rate plus 3%. Monthly installments of principal and interest of $13,793 are payable through January 1, 2018, at which point the note will be amortized for the balance through the maturity date of October 1, 2022. At June 30, 2015, the balance on this note was $2,544,474. On March 4, 2014, the Housing Authority of Maricopa County entered into a repayment agreement with the U.S. Department of Housing and Urban Development (HUD) totaling $115,524 to repay misused program funds as determined by the 2010 HUD Limited Management and Financial Review. The agreement bears no interest and calls for equal annual payments of $11,552 from non-federal resources beginning June 30, 2014, and ending June 30, 2023. At June 30, 2015, the balance on this note was $92,419. The Housing Authority of Maricopa County entered into a repayment agreement with the HUD totaling $468,781 to repay misused program funds, as determined by a HUD Quality Assurance Division review, which was finalized in 2015. The agreement bears no interest and calls for equal annual payments of $18,751 from non-federal resources. At June 30, 2015, the balance on this note was $468,781. Annual debt service requirements to maturity for Housing Authority loans payable are as follows: Business-type Activities Year Ending June 30 2016 2017 2018 2019 2020 2021-25 2026-30 2031-35 2036-40 2041-42 Total $ $ Principal 69,218 90,476 93,905 657,546 90,302 2,769,663 93,755 93,755 93,755 18,757 4,071,132 64 Notes to the Financial Statements (Continued) Funding Source for Governmental Activities Liabilities Governmental Funds Liabilities Funding Source Lease revenue bonds Certificates of participation Capital leases Stadium District revenue bonds Special assessment debt with governmental commitment Claims and judgments County Improvement Debt Fund County Improvement Debt Fund County Improvement Debt Fund Stadium District Debt Service Fund (nonmajor debt service fund) Special Assessment Fund (nonmajor debt service fund) General Fund, Transportation Operations Fund and Flood Control Fund (nonmajor special revenue funds) Risk Management Fund and Employee Benefits Trust Fund (internal service funds) General Fund Various funds Reported and incurred but not reported claims Liability for closure and postclosure costs Net pension liabilities Legal Debt Margin County indebtedness pertaining to general obligation bonds may not exceed six percent of the value of the County’s taxable property ascertained by the last assessment. However, with voter approval, the County may become indebted for an amount not to exceed fifteen percent of such taxable property. At June 30, 2015, the allowable six and fifteen percent limits were $2,104,778,796 and $5,261,946,989, respectively. The County had no outstanding general obligation debt at June 30, 2015, and was therefore within the legal debt margin. Arbitrage Compliance The County is in compliance with all Federal arbitrage regulations for tax-exempt debt securities. As of June 30, 2015, the County had no arbitrage liability. NOTE 15 – MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS The County has five landfills which are subject to closure and postclosure care requirements. Federal and State laws and regulations require the County to place a final cover on all its landfill sites when they stop accepting waste and to perform certain maintenance and monitoring functions at the sites for 30 years after closure. Although one landfill is exempt from these regulations, the County is performing postclosure monitoring of this site and has included the estimated costs in the closure and postclosure liability. The County’s last remaining landfill stopped accepting waste May 2007 and the final cover was completed in October 2010. At June 30, 2015, the County updated the estimates required to pay for closure, cleanup, remedial actions and monitoring at the County's five landfill sites, in accordance with generally accepted accounting principles. The County estimated these costs to be approximately $8,212,038. The County’s estimate for closure and postclosure care requirements for the five landfills are subject to change due to inflation, changes in technology, changes in regulations, or results of the investigational study. All associated closure and postclosure costs will be paid from the General Fund. These amounts are based on what it would cost to perform all closure and postclosure care and remedial investigation costs in fiscal year 2015. According to Federal and State laws and regulations, the County must comply with the local government financial test requirements that assure the County can meet the costs of landfill closure, postclosure, and corrective action when needed. The County is in compliance with these requirements. 65 Notes to the Financial Statements (Continued) NOTE 16 – MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT On July 1, 2014, the County maintained a $35,000,000 municipal revolving line of credit with qualified interest rate of 61% and non-qualified interest rate of 66% of the bank’s prime rate which had a maturity date of June 30, 2015. Outstanding principal and interest is due on June 30 of each year. During fiscal year 2015, the County had not borrowed against the line of credit. The municipal revolving line of credit was renewed to June 30, 2016. On July 1, 2014, the County maintained a $15,878,105 irrevocable standby letter of credit issued to the Industrial Commission of Arizona for unfunded workers’ compensation claims. On December 31, 2014, the letter of credit was decreased to $15,151,706. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2015, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to June 30, 2016. NOTE 17 – OPERATING LEASES The County’s operating leases are for land, buildings, office equipment, and vehicles under the provisions of various long-term lease agreements classified as operating leases for accounting purposes. Rental expenses under the terms of these operating leases for governmental activities were $10,718,380 for the year ended June 30, 2015. These operating leases have remaining lease terms from one to sixteen years. Also, they provide renewal options and are contingent on budgetary appropriations each fiscal year. The future minimum rental payments required under these operating leases as of June 30, 2015, are as follows: Year Ending June 30 2016 2017 2018 2019 2020 2021-2025 2026-2030 2031 Total minimum payments required Governmental Activities 10,185,538 9,027,233 8,786,203 4,689,083 2,113,888 495,624 339,300 69,600 $ 35,706,469 NOTE 18 – RISK MANAGEMENT The Risk Management Fund (internal service fund) accounts for the financing of the insured risk of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The County is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The County carries commercial insurance for all such risks of loss, including workers’ compensation and employees’ health and accident insurance. Settled claims resulting from these risks have not exceeded this commercial coverage since the inception of these insurance policies. 66 Notes to the Financial Statements (Continued) Liabilities for unpaid claims are estimates determined by an independent actuary using the following actuarial methods: developed paid loss, developed reported incurred losses, developed case reserves, frequency times severity analysis, loss rate analysis, and the Bornhuetter-Ferguson method. Accrued actuarial liabilities are based on a discounted expected confidence level assuming a 2.00 percent annual rate of return on investments. Accrued actuarial liabilities at June 30, 2015, for each insurable area follow: Auto liability General liability Workers’ compensation Medical malpractice Auto physical damage Property Professional liability Environmental property damage Environmental liability Unallocated Total $ $ 3,902,098 30,960,061 17,641,346 4,858,465 41,743 35,426 195,641 2,505,201 3,062,500 6,416,160 69,618,641 Changes in the unpaid claims liability reported in the Risk Management Trust Fund follow: Year 2012-13 2013-14 2014-15 Balance July 1 129,080,630 76,866,119 65,460,160 Current-Year Claims And Changes In Estimates (13,056,180) 4,028,631 13,360,665 Claims Payments (39,158,331) (15,434,590) (9,202,184) Balance June 30 76,866,119 65,460,160 69,618,641 The Employee Benefits Trust Fund (internal service fund) accounts for the financing of the insured risk of loss for certain health benefits (medical, dental, short-term disability, and medical incentives) to eligible employees and their dependents. The liability for medical, dental, short-term disability, behavioral health, and vision claims is based on fiscal year 2015 actuarial reports. Accrued actuarial liabilities at June 30, 2015, for each insurable area follow: Medical Dental Short-term disability Behavioral health Vison Pharmacy Total $ $ 12,264,639 654,002 463,942 128,297 167,817 9,403 13,688,100 Changes in the unpaid claims liabilities reported in the Employee Benefits Trust Fund follow: Year 2012-13 2013-14 2014-15 Balance July 1 10,935,967 8,286,946 11,687,296 Current-Year Claims And Changes In Estimates 111,466,605 130,629,777 137,910,814 67 Claims Payments (114,115,626) (127,229,427) (135,910,010) Balance June 30 8,286,946 11,687,296 13,688,100 Notes to the Financial Statements (Continued) NOTE 19 – POLLUTION REMEDIATION OBLIGATIONS Maricopa County has estimated and reported a pollution remediation obligation in the government-wide financial statements for the current or potential detrimental effects of existing pollution. At June 30, 2015, the County reported $1,082,782 of claims and judgments, which is composed of the following pollution remediation obligations. Asbestos – The National Emission Standards for Hazardous Air Pollutants, 40 CFR §61.145, requires the County to inspect buildings for the existence of asbestos prior to the commencement of any demolition or renovation work. As of June 30, 2015, the County had several facilities under consideration for demolition or renovation. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The estimate accounts for pre-cleanup and cleanup activities. Stormwater – Under the Clean Water Act, the National Pollutant Discharge Elimination System, 40 CFR §122, requires the implementation of controls designed to prevent harmful pollutants from being washed by stormwater runoff into bodies of water. An audit of County-owned facilities was conducted to ensure compliance with federal regulations. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The estimate accounts for activities to achieve compliance. Road and Drainage Construction – The County conducted environmental site characterizations during the construction of roads and drainage structures. In compliance with Arizona Department of Environmental Quality (ADEQ) Soil Remediation Levels, Arizona Administrative Code Title 18, Chapter 7, Article 2, the County will excavate and properly dispose of any contaminated soil. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The estimate consists of the costs for soil excavation, disposal, and additional sampling. Maricopa County also has estimated and reported a pollution remediation obligation in the Risk Management internal service fund financial statements for the current or potential detrimental effects of existing pollution. These obligations are categorized under environmental property damage and environmental liability in Note 18– Risk Management. At June 30, 2015, the County reported $5,567,701 of reported but unpaid claims, which is composed of the following pollution remediation obligations. Cave Creek Landfill – The County has entered into a Consent Decree with ADEQ to evaluate the Cave Creek Landfill as a source of groundwater contamination. A Draft Remedial Action Plan (RAP) was completed and submitted to ADEQ in Spring 2015. The Draft RAP was approved by ADEQ in August 2015 and a public meeting was held in September 2015. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The estimate consists of mandated testing costs, continuation of the groundwater modeling program, soil vapor extraction well operation, public meetings, response to RAP comments, and initial implementation of recommended remediation at the landfill. Hassayampa Landfill – On July 22, 1987, the Hassayampa Landfill was added to the Superfund National Priorities List by the United States Environmental Protection Agency (EPA), pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), 42 U.S.C. §9605(a)(8), due to suspected groundwater contamination. On February 19, 1988, nine of the major potentially responsible parties (PRP) for the site entered into a Consent Order with the EPA to conduct the Remedial Investigation and Feasibility Study. On August 6, 1992, a Record of Decision was signed and detailed the EPA’s selected cleanup remedy, which resulted in the formation of the Hassayampa Steering Committee (HSC). The HSC, an unincorporated association, consists of 11 PRP’s that entered into a Unilateral Administrative Order with the EPA on March 30, 1993, to conduct additional investigation activities and to begin remedial design and action activities on the groundwater treatment system and soil cap. In September 1997, a Preliminary Close-Out Report was completed and the EPA certification of the completion of construction of the remedial action was issued in April 1998. The groundwater extraction and treatment system and soil vapor extraction and treatment system will continue to be run by the PRP’s until the groundwater and soil meet cleanup levels. 68 Notes to the Financial Statements (Continued) The HSC hires consultants that recommend site actions, meet with regulators, and develop cost estimates for remediation of the Hassayampa Landfill. The County is responsible for 27.78% of the HSC’s cost remediation. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. CERCLA Cost Recovery Claim – The County, along with numerous other entities, was named as a potential responsible party under the CERCLA, 42 U.S.C. §9607(a), by a third party. The Notice of Claim was based upon allegations that the County owned the properties which were acquired in the 1970’s from a solvent manufacturer. However, in 2001, the County (and other parties) entered into a Consent Decree/Settlement with ADEQ which absolved the County of any additional liability for the site. The County pollution remediation liability is subject to change due to changes in the cost of goods and services, changes in remediation technology, or changes in laws and regulations governing the remediation effort. The County has no estimated recoveries at this time. NOTE 20 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS Plan Descriptions The County contributes to the plans described below. The plans are component units of the State of Arizona. At June 30, 2015, the County reported the following aggregate amounts related to pensions for all plans to which it contributes: Statement of Net Position and Statement of Activities Net pension liabilities Deferred outflows of resources Deferred inflows of resources Pension expense Governmental Activities $ 1,457,218,809 305,782,020 156,644,197 202,689,801 Business-Type Activities $ 3,713,222 710,325 649,328 250,639 $ Total 1,460,932,031 306,492,345 157,293,525 202,940,440 The County’s accrued payroll and employee benefits includes $2,195,928 of outstanding pension contribution amounts payable to all pension plans for the year ended June 30, 2015. Also, the County reported $98,102,669 of pension contributions as expenditures in the governmental funds related to all pension plans to which it contributes. A. Arizona State Retirement System Plan description—County employees not covered by the other pension plans described below participate in the Arizona State Retirement System (ASRS). The ASRS administers a cost-sharing multiple-employer defined benefit pension plan, a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan, and a cost-sharing multiple-employer defined benefit long-term disability (OPEB) plan. The Arizona State Retirement System Board governs the ASRS according to the provisions of A.R.S. Title 38, Chapter 5, Articles 2 and 2.1. The ASRS issues a publicly available financial report that includes its financial statements and required supplementary information. The report is available on its Web site at www.azasrs.gov. 69 Notes to the Financial Statements (Continued) Benefits provided—The ASRS provides retirement, health insurance premium supplement, longterm disability, and survivor benefits. State statute establishes benefit terms. Retirement benefits are calculated on the basis of age, average monthly compensation, and service credit as follows: Retirement Initial membership date: Before July 1, 2011 On or after July 1, 2011 Sum of years and age equals 80 30 years age 55 10 years age 62 25 years age 60 5 years age 50* 10 years age 62 any years age 65 5 years age 50* any years age 65 Years of service and age required to receive benefit Final average salary is based on Highest 36 consecutive months of last 120 months Highest 60 consecutive months of last 120 months 2.1% to 2.3% 2.1% to 2.3% Benefit percent per year of service *With actuarially reduced benefits. Retirement benefits for members who joined the ASRS prior to September 13, 2013, are subject to automatic cost-of-living adjustments based on excess investment earning. Members with a membership date on or after September 13, 2013, are not eligible for cost-of-living adjustments. Survivor benefits are payable upon a member’s death. For retired members, the survivor benefit is determined by the retirement benefit option chosen. For all other members, the beneficiary is entitled to the member’s account balance that includes the member’s contributions and employer’s contributions, plus interest earned. Contributions—In accordance with state statutes, annual actuarial valuations determine active member and employer contribution requirements. The combined active member and employer contribution rates are expected to finance the costs of benefits employees earn during the year, with an additional amount to finance any unfunded accrued liability. For the year ended June 30, 2015, active ASRS members were required by statute to contribute at the actuarially determined rate of 11.6 percent (11.48 percent for retirement and 0.12 percent for long-term disability) of the members’ annual covered payroll, and the County was required by statute to contribute at the actuarially determined rate of 11.6 percent (10.89 percent for retirement, 0.59 percent for health insurance premium benefit, and 0.12 percent for long-term disability) of the active members’ annual covered payroll. In addition, the County was required by statute to contribute at the actuarially determined rate of 9.57 percent (9.31 percent for retirement, 0.20 percent for health insurance premium benefit, and 0.06 percent for long-term disability) of annual covered payroll of retired members who worked for the County in positions that would typically be filled by an employee who contributes to the ASRS. The County’s contributions to the pension plan for the year ended June 30, 2015, were $52,049,333. The County’s contributions for the current and 2 preceding years for OPEB, all of which were equal to the required contributions, were as follows: Year ended June 30 2015 2014 2013 Health Benefit Supplement Fund $ 2,799,086 2,718,331 2,815,022 Long-Term Disability Fund $ 560,655 1,069,996 1,023,276 During fiscal year 2015, the County paid for ASRS pension and OPEB contributions as follows: 59 percent from the General Fund, 11 percent from major funds, and 30 percent from other funds. 70 Notes to the Financial Statements (Continued) Pension liability — At June 30, 2015, the County reported a liability of $748,436,636 for its proportionate share of the ASRS’ net pension liability. The net pension liability was measured as of June 30, 2014. The total pension liability used to calculate the net pension liability was determined using update procedures to roll forward the total pension liability from an actuarial valuation as of June 30, 2013, to the measurement date of June 30, 2014. The County’s proportion of the net pension liability was based on the County’s actual contributions to the plan relative to the total of all participating employers’ contributions for the year ended June 30, 2014. The County’s proportion measured as of June 30, 2014, was 5.1 percent, which was an increase of 0.1 from its proportion measured as of June 30, 2013. Pension expense and deferred outflows/inflows of resources — For the year ended June 30, 2015, the County recognized pension expense for ASRS of $56,665,664. At June 30, 2015, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Net difference between projected and actual earnings on pension plan investments Changes in proportion and differences between county contributions and proportionate share of contributions County contributions subsequent to the measurement date Total Deferred Outflows of Resources Deferred Inflows of Resources $ $ 38,037,741 130,878,461 17,053,578 52,049,333 $ 107,140,652 $ 130,878,461 The $52,049,333 reported as deferred outflows of resources related to ASRS pensions resulting from county contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to ASRS pensions will be recognized in pension expense as follows: Year ending June 30 2016 2017 2018 2019 $ (8,766,868) (8,766,868) (25,533,791) (32,719,615) Actuarial Assumptions — The significant actuarial assumptions used to measure the total pension liability are as follows: ASRS Actuarial valuation date Actuarial roll forward date Actuarial cost method Investment rate of return Projected salary increases Inflation Permanent benefit increase Mortality rates June 30, 2013 June 30, 2014 Entry age normal 8% 3–6.75% 3% Included 1994 GAM Scale BB 71 Notes to the Financial Statements (Continued) Actuarial assumptions used in the June 30, 2013, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2012. The long-term expected rate of return on ASRS pension plan investments was determined to be 8.79 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: Asset Class Equity Fixed income Real estate Commodities Total Long-Term Expected Real Rate of Return 7.03% 3.20% 4.75% 4.50% Target Allocation 63% 25% 8% 4% 100% Discount Rate — The discount rate used to measure the ASRS total pension liability was 8 percent, which is less than the long-term expected rate of return of 8.79 percent. The projection of cash flows used to determine the discount rate assumed that contributions from participating employers will be made based on the actuarially determined rates based on the ASRS Board’s funding policy, which establishes the contractually required rate under Arizona statute. Based on those assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Sensitivity of the County’s proportionate share of the ASRS net pension liability to changes in the discount rate — The following table presents the County’s proportionate share of the net pension liability calculated using the discount rate of 8 percent, as well as what the County’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (7 percent) or 1 percentage point higher (9 percent) than the current rate: 1% Decrease (7%) County’s proportionate share of the net pension liability $ 945,985,525 Current Discount Rate (8%) $ 748,436,636 1% Increase (9%) $ 641,256,445 Pension plan fiduciary net position—Detailed information about the pension plan’s fiduciary net position is available in the separately issued ASRS financial report. B. Public Safety Personnel Retirement System and Corrections Officer Retirement Plan Plan descriptions — County sheriff employees and county attorney investigators who are regularly assigned hazardous duty participate in the Public Safety Personnel Retirement System (PSPRS). Previously, County park rangers participated in the PSPRS; however, the plan currently has no active members and only five inactive members. This plan is closed to new members and has not had any active members since fiscal year 2006-07. The net pension liability for this plan of $799,039 is included in the County’s total net pension liability; however, the details of this plan are not disclosed in the note below as there are no active members and it is not material. The PSPRS administers an agent multiple-employer defined benefit pension plan and an agent multiple-employer defined benefit health insurance premium benefit (OPEB) plan (agent plans). A seven-member 72 Notes to the Financial Statements (Continued) board known as the Board of Trustees and the participating local boards govern the PSPRS according to the provisions of A.R.S. Title 38, Chapter 5, Article 4. County detention officers and Administrative Office of the Courts (AOC) probation, surveillance, and juvenile detention officers participate in the Corrections Officer Retirement Plan (CORP). The CORP administers an agent multiple-employer defined benefit pension plan and an agent multiple-employer defined benefit health insurance premium benefit (OPEB) plan for county detention officers (agent plans), and a cost-sharing multiple-employer defined benefit pension plan and a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan for AOC officers (cost-sharing plans). The PSPRS Board of Trustees and the participating local boards govern CORP according to the provisions of A.R.S. Title 38, Chapter 5, Article 6. The PSPRS and CORP issue publicly available financial reports that include their financial statements and required supplementary information. The reports are available on the PSPRS Web site at www.psprs.com. Benefits provided—The PSPRS and CORP provide retirement, health insurance premium supplement, disability, and survivor benefits. State statute establishes benefit terms. Retirement, disability, and survivor benefits are calculated on the basis of age, average monthly compensation, and service credit as follows: PSPRS Before January 1, 2012 Retirement and Disability Years of service and age required to receive benefit Final average salary is based on Initial membership date: On or after January 1, 2012 20 years any age 15 years age 62 25 years age 52.5 Highest 36 consecutive months of last 20 years Highest 60 consecutive months of last 20 years Benefit percent Normal Retirement Accidental Disability Retirement Catastrophic Disability Retirement Ordinary Disability Retirement 50% less 2.0% for each year of credited service less than 20 years OR plus 2.0% to 2.5% for each year of credited service over 20 years, not to exceed 80% 2.5% per year of credited service, not to exceed 80% 50% or normal retirement, whichever is greater 90% for the first 60 months then reduced to either 62.5% or normal retirement, whichever is greater Normal retirement calculated with actual years of credited service or 20 years of credited service, whichever is greater, multiplied by years of credited service (not to exceed 20 years) divided by 20 Survivor Benefit Retired Members 80% to 100% of retired member’s pension benefit Active Members 80% to 100% of accidental disability retirement benefit or 100% of average monthly compensation if death was the result of injuries received on the job 73 Notes to the Financial Statements (Continued) CORP Initial membership date: Before January 1, 2012 On or after January 1, 2012 Retirement and Disability Years of service and age required to receive benefit Sum of years and age equals 80 20 years any age 10 years age 62 25 years age 52.5 10 years age 62 Final average salary is based on Highest 36 consecutive months of last 10 years Highest 60 consecutive months of last 10 years Benefit percent Normal Retirement 2.0% to 2.5% per year of credited service, not to exceed 80% Accidental Disability Retirement 50% or normal retirement if more than 20 years of credited service Total and Permanent Disability Retirement 50% or normal retirement if more than 25 years of credited service 50% or normal retirement if more than 25 years of credited service Ordinary Disability Retirement 2.5% per year of credited service or normal retirement, whichever is greater Survivor Benefit Retired Members 80% of retired member’s pension benefit Active Members 40% of average monthly compensation or 100% of average monthly compensation if death was the result of injuries received on the job. If there is no surviving spouse or eligible children, the beneficiary is entitled to 2 times the member’s contributions. Retirement and survivor benefits are subject to automatic cost-of-living adjustments based on excess investment earning. PSPRS also provides temporary disability benefits of 50 percent of the member’s compensation for up to 12 months. Employees covered by benefit terms—At June 30, 2015, the following employees were covered by the agent pension plans’ benefit terms: PSPRS Sheriff Inactive employees or beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Active employees Total PSPRS Attorney Investigators CORP Detention 422 18 430 75 611 1,108 1 15 34 194 2,109 2,733 Contributions and annual OPEB cost—State statutes establish the pension contribution requirements for active PSPRS and CORP employees. In accordance with state statutes, annual actuarial valuations determine employer contribution requirements for PSPRS and CORP pension and health insurance premium benefits. The combined active member and employer contribution rates are expected to finance the costs of benefits employees earn during the year, with an additional amount to finance any unfunded accrued liability. Contributions rates for the year ended June 30, 2015, are indicated below. Rates are a percentage of active members’ annual covered payroll. 74 Notes to the Financial Statements (Continued) PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC Active members—pension 11.05% 11.05% 8.41% 8.41% County pension 37.78% 56.61% 12.48% 14.88% 1.88% 1.81% 0.97% 1.24% County health insurance premium benefit In addition, the County was required by statute to contribute at the actuarially determined rate of 19.65 percent for the PSPRS and 7.34 percent for the CORP of annual covered payroll of retired members who worked for the County in positions that would typically be filled by an employee who contributes to the PSPRS or CORP. For the agent plans, the County’s contributions to the pension plan and annual OPEB cost and contributions for the health insurance premium benefit for the year ended June 30, 2015, were: PSPRS Sheriff PSPRS Attorney Investigators CORP Detention Pension Contributions made $ 18,715,186 $ 1,077,455 $ 12,439,939 Annual OPEB cost 926,243 20,836 966,886 Contributions made 926,243 20,836 966,886 Health Insurance Premium Benefit Contributions to the CORP AOC pension plan for the year ended June 30, 2015, were $9,496,405. The County’s contributions for the current and 2 preceding years for the CORP AOC OPEB, all of which were equal to the required contributions, were as follows: CORP AOC Health Insurance Year ended June 30 Fund 2015 $ 790,251 2014 680,068 2013 668,087 During fiscal year 2015, the County paid for PSPRS and CORP pension and OPEB contributions as follows: 59 percent from the General Fund, 38 percent from major funds, and 3 percent from other funds. Pension liability—At June 30, 2015, the County reported the following net pension liabilities: Net Pension Liability PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ 237,689,764 6,918,459 153,882,019 125,717,900 The net pension liabilities were measured as of June 30, 2014, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The total pension liabilities as of June 30, 2014, reflect the following changes of benefit terms and actuarial assumptions. 75 Notes to the Financial Statements (Continued)  In February 2014, the Arizona Supreme Court affirmed a Superior Court ruling that a 2011 law that changed the mechanism for funding permanent benefit increases was unconstitutional. As a result, the plans changed benefit terms to reflect the prior mechanism for funding permanent benefit increases and revised actuarial assumptions to explicitly value future permanent benefit increases.  The wage growth actuarial assumption was decreased from 4.5 percent to 4.0 percent. Pension actuarial assumptions — The significant actuarial assumptions used to measure the total pension liability are as follows: PSPRS and CORP — Pension Actuarial valuation date Actuarial cost method Discount rate Projected salary increases Inflation Permanent benefit increase Mortality rates June 30, 2014 Entry age normal 7.85% 4.0%–8.0% for PSPRS and 4.0%– 7.25% for CORP 4.0% Included RP-2000 mortality table (adjusted by 105% for both males and females) Actuarial assumptions used in the June 30, 2014, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2011. The long-term expected rate of return on PSPRS and CORP pension plan investments was determined to be 7.85 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expenses and inflation) are developed for each major asset class. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: PSPRS and CORP Asset Class Short term investments Absolute return Risk parity Fixed income Real assets GTAA Private equity Real estate Credit opportunities Non-U.S. equity U.S. equity Total Target Allocation 2% 4% 4% 7% 8% 10% 11% 11% 13% 14% 16% 100% Long-Term Expected Real Rate of Return 3.25% 6.75% 6.04% 4.75% 5.96% 5.73% 9.50% 6.50% 8.00% 8.63% 7.60% Pension discount rates — The discount rate used to measure the PSPRS and CORP total pension liabilities was 7.85 percent. The projection of cash flows used to determine the PSPRS and CORP discount rates assumed that plan member contributions will be made at the current contribution rate and that employer contributions will be made at rates equal to the difference between the actuarially determined contribution rate and the member rate. Based on those assumptions, the pension plans’ fiduciary net position was projected to be available to make all projected future benefit payments of 76 Notes to the Financial Statements (Continued) current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Changes in the Net Pension Liability PSPRS Sheriff Balances at June 30, 2014 Changes for the year: Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2015 Total Pension Liability (a) $ 350,255,303 Increase (Decrease) Plan Fiduciary Net Position (b) $ 166,095,071 7,480,509 26,943,394 8,426,465 7,480,509 26,943,394 8,426,465 11,002,881 41,139,111 14,269,254 4,854,094 22,842,521 11,002,881 41,139,111 (14,269,254) (4,854,094) (22,842,521) (21,535,223) (183,966) (319,075) 19,927,605 $ 186,022,676 183,966 319,075 53,529,532 $ 237,689,764 (21,535,223) 73,457,137 $ 423,712,440 PSPRS Attorney Investigators Increase (Decrease) Total Pension Plan Fiduciary Liability Net Position (a) (b) $ 9,149,797 $ 3,572,620 Balances at June 30, 2014 Changes for the year: Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2015 Net Pension Liability (a) – (b) $ 5,577,177 148,216 687,975 361,998 148,216 687,975 361,998 406,452 1,360,402 875,484 175,233 508,376 406,452 1,360,402 (875,484) (175,233) (508,376) (919,786) (4,094) 68,762 703,975 4,276,595 4,094 (68,762) 1,341,282 6,918,459 (919,786) 2,045,257 $ 11,195,054 77 Net Pension Liability (a) – (b) $ 184,160,232 $ $ Notes to the Financial Statements (Continued) CORP Detention Increase (Decrease) Balances at June 30, 2014 Changes for the year: Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2015 Total Pension Liability Plan Fiduciary Net Position Net Pension Liability (a) $ 293,376,438 (b) $ 173,630,365 (a) – (b) $ 119,746,073 13,157,787 22,915,599 4,251,385 13,157,787 22,915,599 4,251,385 10,839,392 27,217,502 11,963,290 8,207,931 24,337,934 10,839,392 27,217,502 (11,963,290) (8,207,931) (24,337,934) (16,073,751) (191,360) (72,076) 28,171,968 $ 201,802,333 191,360 72,076 34,135,946 $ 153,882,019 (16,073,751) 62,307,914 $ 355,684,352 The County’s proportion of the CORP AOC net pension liability as of June 30, 2013 and 2014, was based on the County’s actual contributions to the plan relative to the total of all participating counties’ actual contributions for the year ended June 30, 2014. The County’s proportion measured as of June 30, 2013 and 2014, was 56 percent. Sensitivity of the County’s net pension liability to changes in the discount rate—The following table presents the County’s net pension liabilities calculated using the discount rate of 7.85 percent, as well as what the County’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.85 percent) or 1 percentage point higher (8.85 percent) than the current rate: 1% Decrease (6.85%) Current Discount Rate (7.85%) 1% Increase (8.85%) PSPRS Sheriff Net pension liability $ 286,683,766 $ 237,689,764 PSPRS Attorney Investigators Net pension liability $ 8,026,369 $ 6,918,459 CORP Detention Net pension liability $ 204,788,233 $ 153,882,019 $ 112,064,098 CORP AOC County’s proportionate share of the net pension liability $ 166,007,561 $ 125,717,900 $ $ 196,658,666 $ 5,970,310 92,242,584 Pension plan fiduciary net position—Detailed information about the pension plans’ fiduciary net position is available in the separately issued PSPRS and CORP financial reports. 78 Notes to the Financial Statements (Continued) Pension expense — For the year ended June 30, 2015, the County recognized the following pension expense: Pension Expense PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ 33,227,051 1,136,307 21,854,968 16,822,600 Pension deferred outflows/inflows of resources—At June 30, 2015, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: PSPRS Sheriff Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on pension plan investments County contributions subsequent to the measurement date $ $ Total $ PSPRS Attorney Investigators Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on pension plan investments County contributions subsequent to the measurement date $ $ Total $ CORP Detention Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual experience $ $ 7,618,735 18,715,186 287,558 962,461 $ 7,618,735 1,077,455 2,327,474 9,206,560 $ 169,560 23,117,493 8,079,785 12,439,939 $ 79 60,905,656 169,560 Changes of assumptions or other inputs Net difference between projected and actual earnings on pension plan investments County contributions subsequent to the measurement date Total 8,902,934 33,287,536 44,763,992 $ 8,079,785 Notes to the Financial Statements (Continued) CORP AOC Deferred Outflows of Resources Deferred Inflows of Resources Differences between expected and actual experience $ $ Changes of assumptions or other inputs Net difference between projected and actual earnings on pension plan investments County contributions subsequent to the measurement date Total 5,967,477 18,469,974 6,959,742 9,496,405 $ 33,933,856 $ 6,959,742 The amounts reported as deferred outflows of resources related to pensions resulting from county contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC 474,445 $ 3,712,895 $ 3,596,218 Year ending June 30 2016 $ 8,046,839 $ 2017 8,046,839 474,445 3,712,895 3,596,218 2018 8,046,839 173,957 3,712,895 3,596,218 2019 8,046,839 (42,389) 3,712,895 3,596,218 2020 2,384,380 5,732,841 3,092,835 Thereafter 3,659,847 Agent plan OPEB actuarial assumptions—The health insurance premium benefit contribution requirements for the year ended June 30, 2015, were established by the June 30, 2013, actuarial valuations, and those actuarial valuations were based on the following actuarial methods and assumptions. Actuarial valuations involve estimates of the reported amounts’ value and assumptions about the probability of events in the future. Amounts determined regarding the plans’ funded status and the annual required contributions are subject to continual revision as actual results are compared to past expectations and new estimates are made. The required schedule of funding progress for the health insurance premium benefit presented as required supplementary information provides multiyear trend information that shows whether the actuarial value of the plans’ assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits. Projections of benefits are based on (1) the plans as the County and plans’ members understand them and include the types of benefits in force at the valuation date, and (2) the pattern of sharing benefit costs between the County and plans’ members to that point. Actuarial calculations reflect a long-term perspective and employ methods and assumptions designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value of assets. The significant actuarial methods and assumptions used are the same for all PSPRS and CORP plans and related benefits (unless noted), and the following actuarial methods and assumptions were used to establish the fiscal year 2015 contribution requirements: 80 Notes to the Financial Statements (Continued) PSPRS and CORP—OPEB Contribution Requirements Actuarial valuation date June 30, 2013 Actuarial cost method Entry age normal Amortization method Level percent closed for unfunded actuarial accrued liability, open for excess Remaining amortization period 23 years for unfunded actuarial accrued liability, 20 years for excess Asset valuation method 7-year smoothed market value; 20% corridor Actuarial assumptions: Investment rate of return 7.85% 4.5%–8.5% for PSPRS and 4.5%–7.75% for Projected salary increases CORP Wage growth 4.5% for PSPRS and CORP Agent plan OPEB trend information—Annual OPEB cost information for the health insurance premium benefit for the current and 2 preceding years follows for each of the agent plans: Percentage of Annual Cost Contributed Annual OPEB Cost Year Ended June 30 PSPRS Sheriff 2015 2014 2013 $ 926,243 690,972 618,004 100% 100% 100% $ $ $ 0 0 0 20,836 16,467 15,289 100% 100% 100% $ $ $ 0 0 0 966,886 865,175 908,229 100% 100% 100% $ $ $ 0 0 0 PSPRS Attorney Investigators 2015 2014 2013 CORP Detention 2015 2014 2013 Net OPEB Obligation Agent plan OPEB funded status — The health insurance premium benefit plans’ funded status as of the most recent valuation date, June 30, 2015, along with the actuarial assumptions and methods used in those valuations follow. PSPRS CORP Attorney Investigators Sheriff Detention Actuarial value of assets (a) $ 12,902,495 $ 259,876 $ 15,289,434 Actuarial accrued liability (b) $ 9,712,588 $ 202,200 $ 11,296,234 Funding excess (b)–(a) $ (3,189,907) $ (57,676) $ (3,993,200) 128.5% 135.3% $ 50,845,769 $ 1,105,521 $ 100,248,585 (5.2%) (4.0%) Funded ratio (a)/(b) Annual covered payroll (c) Unfunded actuarial accrued liability as a % of covered payroll [(b)–(a)]/(c) 132.8% (6.3%) 81 Notes to the Financial Statements (Continued) The actuarial methods and assumptions used are the same for all the PSPRS and CORP health insurance premium benefit plans (unless noted), and for the most recent valuation date are as follows: PSPRS and CORP—OPEB Funded Status Actuarial valuation date June 30, 2014 Actuarial cost method Entry age normal Amortization method Level percent closed for unfunded actuarial accrued liability, open for excess Remaining amortization period 22 years for unfunded actuarial accrued liability, 20 years for excess Asset valuation method 7-year smoothed market value; 20% corridor Actuarial assumptions: Investment rate of return 7.85% Projected salary increases 4%–8% for PSPRS and 4%–7.25% for CORP Wage growth 4% for PSPRS and CORP C. Elected Officials Retirement Plan Plan description — Elected officials and judges participate in the Elected Officials Retirement Plan (EORP). EORP administers a cost-sharing multiple-employer defined benefit pension plan and a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan for elected officials and judges who were members of the plan on December 31, 2013. This plan was closed to new members as of January 1, 2014. The PSPRS Board of Trustees governs the EORP according to the provisions of A.R.S. Title 38, Chapter 5, Article 3. The EORP issues a publicly available financial report that includes its financial statements and required supplementary information. The report is available on PSPRS’s Web site at www.psprs.com. Benefits provided—The EORP provides retirement, health insurance premium supplement, disability, and survivor benefits. State statute establishes benefit terms. Retirement, disability, and survivor benefits are calculated on the basis of age, average yearly compensation, and service credit as follows: Initial membership date: Before January 1, 2012 On or after January 1, 2012 Retirement and Disability Years of service and age required to receive benefit Final average salary is based on 20 years any age 10 years age 62 5 years age 65 5 years any age* any years and age if disabled 10 years age 62 5 years age 65 any years and age if disabled Highest 36 consecutive months of last 10 years Highest 60 consecutive months of last 10 years 4% per year of service, not to exceed 80% 3% per year of service, not to exceed 75% 80% with 10 or more years of service 40% with 5 to 10 years of service 20% with less than 5 years of service 75% with 10 or more years of service 37.5% with 5 to 10 years of service 18.75% with less than 5 years of service Benefit percent Normal Retirement Disability Retirement 82 Notes to the Financial Statements (Continued) Initial membership date: Before January 1, 2012 On or after January 1, 2012 Survivor Benefit Retired Members 75% of retired member’s benefit 50% of retired member’s benefit Active Members and Other Inactive Members 75% of disability retirement benefit 50% of disability retirement benefit * With reduced benefits of 0.25% for each month early retirement precedes the member’s normal retirement age, with a maximum reduction of 30%. Retirement and survivor benefits are subject to automatic cost-of-living adjustments based on excess investment earning. Contributions—State statutes establish active member and employer contribution requirements. Statute also appropriates $5 million annually through fiscal year 2043 for the EORP from the State of Arizona to supplement the normal cost plus an amount to amortize the unfunded accrued liability and designates a portion of certain court fees for the EORP. For the year ended June 30, 2015, active EORP members were required by statute to contribute 13 percent of the members’ annual covered payroll, and the County was required to contribute 23.5 percent of active EORP members’ annual covered payroll. In addition, the County was required by statute to contribute 23.5 percent of annual covered payroll of retired members who worked for the County in positions that would typically be filled by an employee who contributes to the EORP. The County’s contributions to the pension plan for the year ended June 30, 2015, were $5,858,204. No OPEB contributions were required or made for the year ended June 30, 2015. The County’s OPEB contributions for the current and 2 preceding years, all of which were equal to the required contributions, were as follows: EORP Year ended June 30 2015 2014 2013 Health Insurance Fund $ 0 420,601 443,646 During fiscal year 2015, the County paid for EORP pension contributions as follows: 98 percent from the General Fund, and 2 percent from other funds. Pension liability—At June 30, 2015, the County reported a liability for its proportionate share of the EORP’s net pension liability that reflected a reduction for the County’s proportionate share of the State’s appropriation for EORP. The amount the County recognized as its proportionate share of the net pension liability, the related state support, and the total portion of the net pension liability that was associated with the County were as follows: County’s proportionate share of the EORP net pension liability State’s proportionate share of the EORP net pension liability associated with the County Total $ 187,488,213 57,485,628 $ 244,973,841 The net pension liability was measured as of June 30, 2014, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. In February 2014, the Arizona Supreme Court affirmed a Superior Court ruling that a 2011 law that changed the mechanism for funding permanent benefit increases was unconstitutional. As a result, for the June 30, 2014, actuarial valuation, the plan changed benefit terms to reflect the prior 83 Notes to the Financial Statements (Continued) mechanism for funding permanent benefit increases and revised actuarial assumptions to explicitly value future permanent benefit increases. The County’s proportion of the net pension liability as of June 30, 2013 and 2014, was based on the County’s actual contributions to the plan relative to the total of all participating employers’ actual contributions for the year ended June 30, 2014. The County’s proportion measured as of June 30, 2013 and 2014, was 28 percent. Pension expense and deferred outflows/inflows of resources — For the year ended June 30, 2015, the County recognized pension expense for EORP of $72,613,103 and revenue of $17,039,411 for the County’s proportionate share of the State’s appropriation to EORP. At June 30, 2015, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on pension plan investments County contributions subsequent to the measurement date Total Deferred Outflows of Resources $ 823,823 50,738,688 Deferred Inflows of Resources $ 3,554,624 $ 5,858,204 57,420,715 $ 3,554,624 The $5,858,204 reported as deferred outflows of resources related to EORP pensions resulting from county contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to EORP pensions will be recognized in pension expense as follows: Year ending June 30 2016 2017 2018 2019 $ 28,806,410 20,978,791 (888,657) (888,657) Actuarial assumptions—The significant actuarial assumptions used to measure the total pension liability are as follows: Actuarial valuation date Actuarial cost method Investment rate of return Projected salary increases Inflation Permanent benefit increase Mortality rates EORP June 30, 2014 Entry age normal 7.85% 4.25% 4.0% Included RP-2000 mortality table projected to 2025 with projection scale AA Actuarial assumptions used in the June 30, 2014, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2011. The long-term expected rate of return on EORP pension plan investments was determined to be 7.85 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expenses and inflation) are 84 Notes to the Financial Statements (Continued) developed for each major asset class. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Asset Class Short term investments Long-Term Expected Real Rate of Return 3.25% Target Allocation 2% Absolute return 4% 6.75% Risk parity 4% 6.04% Fixed income 7% 4.75% Real assets 8% 5.96% GTAA 10% 5.73% Private equity 11% 9.50% Real estate 11% 6.50% Credit opportunities 13% 8.00% Non-U.S. equity 14% 8.63% 16% 7.60% U.S. equity Total 100% Discount rate—At June 30, 2014, the discount rate used to measure the EORP total pension liability was 5.67 percent, which was a decrease of 2.18 from the discount rate used as of June 30, 2013. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate, employer contributions will be made at the statutorily set rates, and state contributions will be made as currently required by statute. Based on those assumptions, the pension plan’s fiduciary net position was projected to be insufficient to make all projected future benefit payments of current plan members. Therefore, to determine the total pension liability for the plan, the long-term expected rate of return on pension plan investments of 7.85 percent was applied to periods of projected benefit payments through the year ended June 30, 2030. A municipal bond rate of 4.29 percent obtained from the 20-year Bond Buyer Index, as published by the Federal Reserve as of June 30, 2014, was applied to periods of projected benefit payments after June 30, 2030. Sensitivity of the County’s proportionate share of the EORP net pension liability to changes in the discount rate—The following table presents the County’s proportionate share of the net pension liability calculated using the discount rate of 5.67 percent, as well as what the County’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (4.67 percent) or 1 percentage point higher (6.67 percent) than the current rate: 1% Decrease (4.67%) County’s proportionate share of the net pension liability $ 218,876,841 Current Discount Rate (5.67%) $ 187,488,213 1% Increase (6.67%) $ 160,985,499 Pension Plan Fiduciary Net Position — Detailed information about the pension plan’s fiduciary net position is available in the separately issued EORP financial report. 85 Notes to the Financial Statements (Continued) NOTE 21 – INTERFUND BALANCES AND ACTIVITY Interfund receivables and payables – interfund balances at June 30, 2015, were as follows: Payable To $ Detention Operations Fund $ 59,906 11,427,741 398,244 $ 11,825,985 $ General Fund Payable from General Fund Nonmajor Governmental Funds Internal Service Funds Total Due From 59,906 Total Due To 59,906 11,427,741 398,244 $ 11,885,891 $ All interfund receivables and payables represent cash deficits that were the result of timing differences from grant revenues received in the subsequent year and cash transfers that had not occurred at June 30, 2015. Interfund transfers – interfund transfers for the year ended June 30, 2015, were as follows: Transfers In General Fund Transfers Out General Fund $ Detention Operations Fund $ 177,017,960 Detention Operations Fund $ 7,835,722 12,081,146 Technology Capital Improvement Fund General Fund County Improvements Fund $ 581,333 General Fund County Improvements Fund $ 3,160,389 57,857,955 Technology Capital Improvement Fund $ 11,640,000 Nonmajor Governmental Funds $ Total Transfers Out 158,138 $ 1,149,551 254,509,775 4,891,273 5,275,000 15,249,103 32,605,249 2,724,200 2,724,200 Nonmajor Governmental Funds 43,355 1,334,224 $ 177,061,315 $ 15,100,747 Internal Services Funds Total Transfers In Detention Capital Projects Fund County Improvement Debt Fund 2,813,388 80,359,956 84,550,923 74,468 $ 14,805,346 74,468 $ 5,973,777 $ 59,007,506 $ 26,889,103 $ 80,518,094 $ 379,355,888 All interfund transfers are budgeted and are used to move revenues from the fund that collects them to the fund that expends them. The interfund receivables, payables, and transfers by fund are as follows: Due From Other Funds Funds MAJOR FUNDS General Fund Special Revenue Funds Detention Operations $ 11,825,985 Due To Other Funds $ 59,906 59,906 Transfers In $ 14,805,346 177,061,315 Debt Service Funds County Improvement Debt 15,100,747 Capital Projects Funds Detention Capital Projects General Fund County Improvements Technology Capital Improvement 5,973,777 59,007,506 26,889,103 NONMAJOR FUNDS Special Revenue Funds Air Quality Grants Animal Control Field Operations Animal Control License/Shelter Ballpark Operations Transfers Out $ 254,509,775 4,891,273 32,605,249 2,724,200 322,047 106,528 1,109,005 1,619,986 86 Notes to the Financial Statements (Continued) Due From Other Funds Funds Due To Other Funds Clerk of the Court Grants Del Web Special Revenue Emergency Management Environmental Service Environmental Health Flood Control Human Services Grants Medical Examiner Grants Parks Enhancement Parks Souvenir Planning and Development Fees Public Health Fees Public Health Grants School Grants Sheriff RICO Small School Service Superior Court Fill the Gap Transportation Operations Transfers Out 260,435 515,875 11,185 126,436 87,237 87,237 87,237 87,237 89,298 87,237 515,875 31,702 87,237 2,665,139 87,237 87,237 1,808 87,237 87,237 5,090,258 2,942,956 87,237 139,037 87,237 30,000,000 87,237 87,237 87,237 87,237 89,298 87,237 87,237 43,355 6,061 87,237 87,237 87,237 Capital Projects Funds County Improvement Detention Technology Capital Improvement Flood Control Capital Projects Long Term Project Reserve Transportation Capital Projects 87,237 87,237 87,237 87,237 48,242,303 87,237 87,237 2,813,388 30,000,000 87,237 1,619,986 48,134,797 87,237 87,237 87,237 Internal Service Funds Employee Benefits Trust Equipment Services Reprographics Risk Management Sheriff Warehouse Technology Infrastructure Total Transfers In 87,237 87,237 87,237 87,237 87,237 11,188 17,145 8,281 21,293 87,237 398,244 $ 11,885,891 $ 11,885,891 $ 379,355,888 $ 16,561 379,355,888 NOTE 22 – DISCRETELY PRESENTED COMPONENT UNIT DISCLOSURES The significant accounting disclosures for Maricopa County’s discretely presented component unit, Industrial Development Authority of Maricopa County (Authority), are presented below. For additional information on the Authority, see Note 1 – Summary of Significant Accounting Policies, Section A – Reporting Entity. A. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The Authority’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America applicable to governmental units adopted by the Governmental Accounting Standards Board (GASB). The statement of net position and the statement of revenues, expenses and changes in net position, are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. B. Deposits and Investments The Authority’s cash and cash equivalents are considered to be cash on hand, demand deposits, and highly liquid investments with maturities of three months or less from the date of acquisition. Investments in securities are stated at fair value in accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools. 87 Notes to the Financial Statements (Continued) Deposits and investments at June 30, 2015, consist of the following: Deposits: Cash in Bank $ Certificates of Deposit 705,786 8,790,273 Investments: Money Market 4,476,780 Federal Home Loan Banks 9,985,013 Federal National Mortgage Association 68,928 Federal Farm Credits Banks 3,202,690 Freddie Mac Global Unsecured 1,490,366 Government National Mortgage Association 178,336 Arizona Community Foundation DPAIN Collateral Investor Notes $ Total deposits and investments: 5,534,668 42,578 34,475,418 Deposits Custodial credit risk is the risk that in the event of a bank failure, the Authority’s deposits may not be returned to it. The Authority places its cash with High-credit quality financial institutions. At various times throughout the year and at year-end, the Authority’s cash balances exceed the federally insured limits. At June 30, 2015, $4,301,238 was uninsured and uncollateralized. Management believes there are no unusual risks associated with current depository institutions. The Authority has no policy concerning exposure to custodial credit risk. Investments Interest Rate Risk – The Authority’s investment policy concerning exposure to interest rate risk is acceptance of no return lower than the market return normally associated with any specific asset class into which the Authority invests. Estimated maturities of the Authority’s investments consisted of the following at June 30, 2015: Within six months Investment Type Freddie Mac Global Unsecured $ Federal Home Loan Banks Six months to one year One to three years More than three years $ $ $ 1,490,366 $ 1,490,366 1,000,019 8,984,994 Federal National Mortgage Association 9,985,013 68,928 Federal Farm Credits Banks 3,202,690 Government national Mortgage Association Totals: $ 1,000,019 $ 68,928 3,202,690 178,336 42,578 DPAIN Collateral Investor Notes Totals 178,336 42,578 $ 12,187,684 $ 1,780,208 $ 14,967,911 Concentration Risk – The Authority’s investment policy concerning exposure to concentration risk is to diversify investments so as to minimize the risk of large losses, unless under certain circumstances it is clearly prudent not to do so. More than 5% of Authority’s investments at June 30, 2015, were in Federal Home Loan Mortgage Corporation (Freddie Mac), Federal Home Loan Banks, and Federal Farm Credit Banks. These investments were 10.0%, 66.7%, and 21.4%, respectively, of the Authority’s total investments. 88 Notes to the Financial Statements (Continued) Credit Risk – The Authority’s investment policy concerning exposure to credit risk is acceptance of no risk in excess of market risks normally associated with any specific asset class into which the Authority invests. At June 30, 2015, credit risk for the Authority’s investments was as follows: Moody's Rating Standard and Poor's Rating Freddie Mac Global Unsecured Aaa AA+ Federal Home Loan Banks Aaa AA+ Federal National Mortgage Association Aaa AA+ Federal Farm Credits Banks Aaa AA+ Government National Mortgage Association Aaa AA+ Investment type Custodial Credit Risk – The Authority has no policy concerning exposure to custodial credit risk. All investments are reported at fair value. Investments are uninsured and unregistered and held by investment brokers in the Authority’s name. The Authority had an unrealized gain in the fair value of investments of $154,143 and realized loss of $143,599 for the year ended June 30, 2015. The unrealized gain and realized loss are included in investment earnings in nonoperating revenues in the accompanying statement of revenues, expenses and changes in fund net position. 89 90 Financial Section Required Supplementary Information Required Supplementary Information Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund Year Ended June 30, 2015 Variance With Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes Licenses and permits Intergovernmental $ 450,442,622 $ 450,442,622 $ 450,978,061 2,296,821 2,296,821 2,192,728 $ 535,439 (104,093) 615,226,595 615,499,482 629,393,460 Charges for services 40,090,690 41,158,995 41,300,300 141,305 Fines and forfeits 11,601,839 11,601,839 10,863,117 (738,722) 2,800,000 2,649,973 2,800,000 2,638,705 3,499,670 7,680,479 699,670 5,041,774 1,125,108,540 1,126,438,464 1,145,907,815 19,469,351 Interest income Miscellaneous Total revenues 13,893,978 EXPENDITURES General government Assessor 23,997,819 24,382,839 23,218,537 1,164,302 Assistant County Manager 1,565,358 1,630,299 946,337 683,962 Board of Supervisors 3,257,405 3,299,538 2,964,838 334,700 County Call Center 1,663,556 1,689,179 1,631,569 57,610 County Managers Office 2,520,696 2,556,760 2,406,707 150,053 Deputy County Manager 1,419,821 1,458,024 1,371,472 86,552 Elections 20,975,466 21,041,925 17,481,360 3,560,565 Enterprise Technology 33,991,066 28,505,974 25,934,487 2,571,487 Facilities Management 49,263,728 49,428,537 40,771,894 8,656,643 2,772,594 2,823,366 2,740,006 83,360 64,969,643 38,716,845 11,652,189 27,064,656 Internal Audit 1,799,337 1,835,837 1,811,947 23,890 Management and Budget 2,382,650 2,412,614 2,141,413 271,201 Procurement Services 2,413,764 2,461,364 2,452,768 8,596 Recorder 2,134,232 2,157,950 1,850,016 307,934 Finance Non-Departmental Research and Reporting 338,603 338,819 52,595 286,224 4,910,812 4,309,478 5,002,464 4,376,059 4,970,923 3,689,536 31,541 686,523 224,686,028 194,118,393 148,088,594 46,029,799 Adult Probation 48,375,459 50,009,303 49,790,153 219,150 Clerk of Superior Court 34,704,601 35,237,721 31,989,427 3,248,294 Constables 2,917,302 3,020,568 2,903,616 116,952 Correctional Health 3,180,331 3,243,665 3,225,764 17,901 83,508,918 84,887,029 83,761,520 1,125,509 Treasurer Workforce Management and Development Total General Government Public safety County Attorney Emergency Management Justice Courts 242,187 248,836 230,366 18,470 17,681,657 17,983,692 17,463,082 520,610 Juvenile Defender 9,231,279 9,376,497 8,737,588 638,909 Juvenile Probation 17,279,942 16,998,450 16,983,164 15,286 The note to the budgetary comparison schedules is an integral part of this schedule 93 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2015 Variance With Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) Public safety (cont.) Legal Defender $ Medical Examiner 12,005,388 $ 12,287,478 $ 12,249,707 $ 37,771 8,261,393 8,403,620 8,386,726 16,894 Office Contract Counsel 47,007,294 46,998,359 45,363,084 1,635,275 Office of Legal Advocate 10,786,783 10,956,938 10,786,366 170,572 868,232 868,232 868,232 Planning and Development Protective Services Public Defender Public Fiduciary Sheriff General Fund Superior Court Total public safety 3,861,489 3,925,912 3,937,246 38,760,010 39,477,568 38,808,776 (11,334) 668,792 3,113,186 3,150,990 3,032,614 118,376 109,932,118 84,634,124 111,395,368 86,768,169 103,161,936 86,457,439 8,233,432 310,730 536,351,693 545,238,395 528,136,806 17,101,589 1,209,008 1,228,712 1,204,077 24,635 258,954 258,954 258,954 Health, welfare and sanitation Air Quality Animal Care and Control Environmental Services Non-Departmental Health Care Programs Human Services Public Health Waste Resources and Recycling Total health, welfare and sanitation 4,281,840 4,702,653 4,616,620 86,033 228,044,506 228,044,506 225,544,026 2,500,480 13,268 258,539 266,671 253,403 2,260,912 2,260,912 2,260,912 11,334,457 3,277,969 11,850,697 3,301,094 11,222,278 3,033,152 628,419 267,942 250,926,185 251,914,199 248,393,422 3,520,777 1,279,802 1,279,802 1,104,234 175,568 2,657,408 2,695,290 2,687,386 7,904 1,015,901,116 995,246,079 928,410,442 66,835,637 109,207,424 131,192,385 217,497,373 86,304,988 14,805,346 (237,725,078) 14,805,346 (259,710,039) 14,805,346 (254,509,775) 5,200,264 (222,919,732) (244,904,693) (239,704,429) 5,200,264 (113,712,308) (113,712,308) (22,207,056) 91,505,252 113,712,308 113,712,308 138,120,895 24,408,587 487,256 487,256 Culture and recreation Parks and Recreation Education Superintendent of Schools Total expenditures Excess of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014, restated Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2015 $ $ The note to the budgetary comparison schedules is an integral part of this schedule. 94 $ 116,401,095 $ 116,401,095 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Detention Operations Fund Year Ended June 30, 2015 Variance With Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ 141,295,781 $ 141,295,781 $ 140,492,834 $ (802,947) Intergovernmental Charges for services 31,040,956 31,040,956 27,895,412 1,101,300 1,101,300 1,389,223 19,472 173,457,509 19,472 173,457,509 503,972 170,281,441 484,500 (3,176,068) 400,866,959 399,360,069 358,547,878 40,812,191 3,683,869 404,550,828 3,459,875 402,819,944 3,345,185 361,893,063 114,690 40,926,881 (231,093,319) (229,362,435) (191,611,622) 37,750,813 Transfers in 176,801,288 177,061,315 177,061,315 Transfers out (3,160,389) 173,640,899 (4,891,273) 172,170,042 (4,891,273) 172,170,042 (57,452,420) (57,192,393) (19,441,580) 37,750,813 57,452,420 57,452,420 63,182,987 5,730,567 Interest income Miscellaneous Total revenues (3,145,544) 287,923 EXPENDITURES Current: Public safety Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES (USES) Total other financing sources Net change in fund balances Fund balance, July 1, 2014, restated Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2015 (297,168) $ $ The note to the budgetary comparison schedules is an integral part of this schedule 95 260,027 $ 43,444,239 (297,168) $ 43,184,212 Maricopa County Required Supplementary Information Note to Budgetary Comparison Schedules June 30, 2015 NOTE 1 - BUDGETARY BASIS OF ACCOUNTING Budgeting and Budgetary Control Arizona Revised Statutes (A.R.S.) requires the County to prepare and adopt a balanced budget annually for each governmental fund. The Board of Supervisors must approve such operating budgets on or before the third Monday in July to allow sufficient time for the legal announcements and hearings required for the adoption of the property tax levy on the third Monday in August. A.R.S. prohibits expenditures or liabilities in excess of the amounts budgeted. Essentially, the County prepares its budget on the same modified accrual basis of accounting used to record actual revenues and expenditures. However, in the General Fund, the County records capital outlay expenditures by the expenditure function and department. The County has adopted budgets in accordance with the A.R.S. requirements for the General, Special Revenue, Debt Service, and Capital Projects Funds, with the exception of the following funds: Accommodation Schools, Street Lighting District, Special Assessment, and the Special Improvement Districts funds. In accordance with GASB Statement No. 34, budgetary comparison schedules should be presented in the required supplementary information for only the General Fund and for each major Special Revenue Fund. Formal budget integration is not employed for the Internal Service Funds because effective budgetary control is alternatively achieved through capability of cost recovery. Budgeted amounts are reported as originally adopted and as amended by authorization from the Board of Supervisors. All budget adjustments with the exception of the Judicial Branch, which includes Adult Probation, Justice Courts, Juvenile Probation and Superior Court, require authorization from the Board of Supervisors. The Judicial Branch appropriations can be moved between the Judicial Branch departments by fund, as requested and approved by the Presiding Judge, without further Board approval. Budgeted appropriations include expenditures and transfers out. Expenditures and transfers out may not legally exceed appropriations at the department level. With the exception of the General Fund, each fund includes only one department. 96 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability June 30, 2015 Arizona State Retirement System Reporting Fiscal Year (Measurement Date) 2014 through 2006 (Information not available) 2015 (2014) County's proportion of the net pension liability 5% County’s proportionate share of the net pension liability $748,436,636 County’s covered-employee payroll $457,915,586 County’s proportionate share of the net pension liability as a percentage of its covered-employee payroll 163.4% Plan fiduciary net position as a percentage of the total pension liability 69.49% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting Fiscal Year (Measurement Date) 2014 through 2006 (Information not available) 2015 (2014) County’s proportion of the net pension liability 56% County’s proportionate share of the net pension liability $125,717,900 County’s covered-employee payroll $61,501,957 County’s proportionate share of the net pension liability as a percentage of its covered-employee payroll 204.4% Plan fiduciary net position as a percentage of the total pension liability 58.59% Elected Officials Retirement Plan Reporting Fiscal Year (Measurement Date) 2014 through 2006 (Information not available) 2015 (2014) County’s proportion of the net pension liability 28% County’s proportionate share of the net pension liability $187,488,213 State’s proportionate share of the net pension liability associated with the County Total $57,485,628 $244,973,841 County’s covered-employee payroll $25,701,800 County’s proportionate share of the net pension liability as a percentage of its covered-employee payroll 953.1% Plan fiduciary net position as a percentage of the total pension liability 31.91% 97 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios June 30, 2015 PSPRS Sheriff Reporting Fiscal Year (Measurement Date) 2014 through 2006 2015 (Information not (2014) available) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) $ $ $ County’s net pension liability—ending (a) – (b) 11,002,881 41,139,111 (21,535,223) 73,457,137 350,255,303 423,712,440 $ 14,269,254 4,854,094 22,842,521 (21,535,223) (183,966) (319,075) 19,927,605 166,095,071 186,022,676 $ 237,689,764 Plan fiduciary net position as a percentage of the total pension liability Covered-employee payroll 7,480,509 26,943,394 8,426,465 43.9% $ County’s net pension liability as a percentage of covered-employee payroll 42,464,861 559.7% PSPRS Attorney Investigators Reporting Fiscal Year (Measurement Date) 2014 through 2006 2015 (Information not (2014) available) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes $ $ $ 98 148,216 687,975 361,998 406,452 1,360,402 (919,786) 2,045,257 9,149,797 11,195,054 875,484 175,233 508,376 (919,786) (4,094) 68,762 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios (Continued) June 30, 2015 PSPRS Attorney Investigators (continued) Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) $ County’s net pension liability—ending (a) – (b) $ Plan fiduciary net position as a percentage of the total pension liability Covered-employee payroll Reporting Fiscal Year (Measurement Date) 2014 through 2006 2015 (Information not (2014) available) 703,975 3,572,620 4,276,595 6,918,459 38.2% $ County’s net pension liability as a percentage of covered-employee payroll 3,313,690 208.8% CORP Detention Reporting Fiscal Year (Measurement Date) 2014 through 2006 2015 (Information not (2014) available) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) $ $ $ County’s net pension liability—ending (a) – (b) $ $ 153,882,019 56.7% $ County’s net pension liability as a percentage of covered-employee payroll 99 10,839,392 27,217,502 (16,073,751) 62,307,914 293,376,438 355,684,352 11,963,290 8,207,931 24,337,934 (16,073,751) (191,360) (72,076) 28,171,968 173,630,365 201,802,333 Plan fiduciary net position as a percentage of the total pension liability Covered-employee payroll 13,157,787 22,915,599 4,251,385 99,925,573 154.0% Maricopa County Required Supplementary Information Schedule of County Pension Contributions June 30, 2015 2015 Arizona State Retirement System Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll $ Corrections Officer Retirement Plan—Administrative Office of the Courts Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll $ 52,049,333 Reporting Fiscal Year 2013 through 2006 (Information not 2014 available) $ 48,826,879 52,049,333 48,826,879 0 476,944,699 0 457,915,586 10.9% 10.7% 9,496,405 $ 8,712,921 9,496,405 8,712,921 0 64,918,301 0 61,501,957 14.6% 14.2% Elected Officials Retirement Plan Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll $ PSPRS Sheriff Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll PSPRS Attorney Investigators Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll CORP Detention Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered-employee payroll County’s contributions as a percentage of covered-employee payroll See accompanying notes to the pension plan schedules. 100 $ $ $ 5,858,204 $ 5,957,431 5,858,204 5,957,431 0 25,064,785 0 25,701,800 23.4% 23.2% 18,715,186 $ 14,269,254 18,715,186 14,269,254 0 50,323,844 0 42,464,861 37.2% 33.6% 1,077,455 $ 875,484 1,077,455 875,484 0 3,247,944 0 3,313,690 33.2% 26.4% 12,439,939 $ 11,963,290 12,439,939 11,963,290 0 104,462,671 0 99,925,573 11.9% 12.0% Maricopa County Required Supplementary Information Notes to Pension Plan Schedules June 30, 2015 NOTE 1 – ACTUARIALLY DETERMINED CONTRIBUTION RATES Actuarial determined contribution rates for PSPRS and CORP are calculated as of June 30 two years prior to the end of the fiscal year in which contributions are made. The actuarial methods and assumptions used to establish the contribution requirements are as follows: Actuarial cost method Amortization method Remaining amortization period as of the 2013 actuarial valuation Asset valuation method Actuarial assumptions: Investment rate of return Projected salary increases Wage growth Retirement age Mortality Entry age normal Level percent closed for unfunded actuarial accrued liability, open for excess 23 years for unfunded actuarial accrued liability, 20 years for excess 7-year smoothed market value; 20% corridor In the 2013 actuarial valuation, the investment rate of return was decreased from 8.0% to 7.85% In the 2013 actuarial valuation, projected salary increases were decreased from 5.0%–9.0% to 4.5%–8.5% for PSPRS and from 5.0%–8.25% to 4.5%–7.75% for CORP In the 2013 actuarial valuation, wage growth was decreased from 5.0% to 4.5% for PSPRS and CORP Experience-based table of rates that is specific to the type of eligibility condition. Last updated for the 2012 valuation pursuant to an experience study of the period July 1, 2006 - June 30, 2011. RP-2000 mortality table (adjusted by 105% for both males and females) NOTE 2 – PLAN INFORMATION EXCLUDED Information for the PSPRS – Park Rangers plan is not disclosed in the required supplementary information as the plan currently has no active members and only five inactive members. This plan is closed to new members and has not had any active members since fiscal year 2006-07. 101 Maricopa County Required Supplementary Information Schedule of Agent OPEB Plans’ Funding Progress June 30, 2015 Health Insurance Premium Benefit Actuarial Valuation Date PSPRS Sheriff 6/30/15 6/30/14 6/30/13 Actuarial accrued liability (b) $ $ 9,712,588 $ 9,178,379 8,938,854 (3,189,907) (2,564,576) 8,938,854 132.8% $ 127.9% 0.0% 50,845,769 41,936,849 36,253,259 (6.3%) (6.1%) 24.7% $ 202,200 $ 195,399 140,686 (57,676) (48,046) 140,686 128.5% $ 124.6% 0.0% 1,105,521 1,162,961 678,993 (5.2%) (4.1%) 20.7% $ 11,296,234 $ 10,429,987 9,974,315 (3,993,200) (3,404,544) 9,974,315 135.4% $ 132.6% 0.0% 100,248,585 99,513,508 89,663,578 (4.0%) (3.4%) 11.1% 12,902,495 11,742,955 0 $ 15,289,434 13,834,531 0 Funded ratio (a)/(b) See accompanying note to schedule of agent OPEB plans’ funding progress . 102 Annual covered payroll (c) UAAL (funding excess) as a percentage of covered payroll (b) – (a)/c) Actuarial value of assets (a) PSPRS Attorney Investigators 6/30/15 $ 259,876 6/30/14 243,445 6/30/13 0 CORP Detention 6/30/15 6/30/14 6/30/13 Unfunded actuarial accrued liability (UAAL) (funding excess) (b) – (a) Maricopa County Required Supplementary Information Note to Schedule of Agent OPEB Plans’ Funding Progress June 30, 2015 NOTE 1 – FACTORS THAT AFFECT THE IDENTIFICATION OF TRENDS Beginning in fiscal year 2014, PSPRS and CORP established separate funds for pension benefits and health insurance premium benefits. Previously, the plans recorded both pension and health insurance premium contributions in the same Pension Fund. During fiscal year 2014, the plans transferred prior-year health insurance premium benefit contributions that exceeded benefit payments from each plan’s Pension Fund to the new Health Insurance Fund. 103 Maricopa County Required Supplementary Information Modified Approach for Infrastructure Assets Year Ended June 30, 2015 Condition Rating of Maricopa County Roadway System Percentage of Lane Miles in Very Good or Excellent Condition (71-100) Roadway System FY 2015 92% FY 2014 88% FY 2013 88% FY 2012 88% FY 2011 87% Percentage of Lane Miles in Substandard Condition < 55 Roadway System FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 0% 1% 1% 1% 1% Comparison of Estimated to Actual Maintenance/Preservation Estimated Actual FY 2015 FY 2014 FY 2013 FY 2012 $ 20,520,937 $ 17,919,194 $ 16,898,176 $ 14,561,888 $ 13,676,976 $ 11,930,482 $ 34,788,600 $ 30,800,046 FY 2011 $ 24,225,831 $ 29,714,126 The condition of road pavement is measured using the Maricopa County Department of Transportation (MCDOT) Road Management System (RMS), which is based on weighted averages of nine distress factors of the pavement surface. The RMS used a measurement scale to evaluate the Pavement Condition Rating (PCR) ranging from zero for a failed pavement to 100 for a pavement in perfect condition. The PCR index is used to classify roads in very good or excellent condition (71-100), good condition (55-70), and substandard condition (less than 55). It is the County’s policy to maintain at least 75% of the roadways at a very good or excellent condition level. No more than 5% should be in a substandard condition. Pavement condition assessments are determined annually for all arterial roads and approximately one-half of the local roads are inspected annually. Condition Rating of Maricopa County Bridge System Percentage of Bridges with a Sufficiency Rating >= 70 Bridge System FY 2015 100% FY 2014 99% FY 2013 99% FY 2012 99% FY 2011 99% Percentage of Bridges with a Sufficiency Rating < 50 Bridge System FY 2015 0% FY 2014 0% FY 2013 0% FY 2012 0% FY 2011 0% Comparison of Estimated to Actual Maintenance/Preservation Estimated Actual FY 2015 $ 525,000 $ 377,647 FY 2014 $2,387,500 $2,153,324 FY 2013 $ 87,500 $ 203,990 FY 2012 $5,610,000 $5,472,568 FY 2011 $4,517,000 $2,150,411 The condition of the County’s bridges is determined using the MCDOT bridge inspection program that follows federal mandates and regulations. The bridge sufficiency rating, which is a weighted average of an assessment of the ability of individual components to meet necessary performance requirements, uses a numerical condition scale ranging from 0 to 100. It is the County’s policy that 90% of bridges will have a rating of >=70 and no more than 3% of bridges will have a rating of <50. All bridges are inspected every two years (approximately one-half of the bridges are inspected annually). 104 Financial Section Nonmajor Governmental Funds Combining and Individual Fund Statements and Schedules Nonmajor Governmental Funds Maricopa County Listing of Nonmajor Governmental Funds Special Revenue Funds Accommodation Schools — (Fund 509) Accounts for the maintenance and operations of the accommodation schools. (Fund 509 is for financial statement roll up purposes, off Advantage - Formerly Regional School District 509). Adult Probation Fees — (Fund 201) Collects the fees assessed to persons placed on probation in the Superior Court per A.R.S. §13-901. Monies collected are used to supplement County General Fund appropriations for the compensation costs of probation officers who provide pre-sentence investigations (A.R.S. §12-267). Adult Probation Grants — (Fund 211) Revenues consist of grant funds that are used for domestic violence, women’s treatment programs, gang prevention and criminal justice records improvement. Air Quality Fees — (Fund 504) Air Quality works to protect the environment and public health through control, preservation, and improvement of the County’s air quality. Permit revenue authorized by A.R.S. §49-480 is the funding source. Air Quality Grants — (Fund 503) Air Quality Grants was set up to account for all grant activity administered by the Air Quality Department. Animal Control Field Operations — (Fund 574) Accounts for the Animal Control field services that are an optional County service from Animal Control pound activities, which are required by Arizona State Statute. Animal Control Grants — (Fund 573) Animal Control Grants was set up to account for all grant activity administered by Animal Control. Animal Control License/Shelter — (Fund 572) Animal Control reduces the incidences of animal inflicted injuries and reduces the risk of exposure to rabies through enforcement of dog licensing laws, leash laws, capture and impoundment of stray dogs, public education, adoption or humane disposal of excess animals. Licenses and fees are the primary funding source. Ballpark Operations — (Fund 253) Accounts for all revenues and expenditures related to Chase Field. Cactus League Operations — (Fund 250) Provides regional leadership and financial resources to assure the presence of Major League baseball in Maricopa County. Operations are funded by a rental vehicle surcharge. CDBG Housing Trust — (Fund 217) Accounts for the grant funds that are utilized to expand the supply of low income housing through the rehabilitation and reconstruction of single family occupancy homes. Check Enforcement Program — (Fund 266) Accounts for fees that are collected pursuant to A.R.S. §13-1809 and §13-1810, any investigation and prosecution costs and any monies that are obtained as a result of a forfeiture and that are recovered for the county through enforcement of A.R.S. §13-1802, §13-1807, §13-2002 or §13-2310, whether by final judgment, settlement or otherwise. The monies in the fund shall be used for the investigation, prosecution and deferred prosecution of theft, forgery and fraud. Child Support Enhancement — (Fund 270) Accounts for funds received from a federal incentive award that is utilized for the enhancement of child support collections through efficient operation of the Title IV-D program. Children’s Issues Education — (Fund 281) Accounts for the funds that are utilized for educational programs regarding the impact that divorce, the restructuring of families and judicial involvement have on children pursuant to A.R.S. §25-354. Revenues that are received from the Clerk’s educational program fees supplement any state or county appropriations. Clerk of Court Fill the Gap — (Fund 218) This fund was set up as indicated by A.R.S. §41-2421F and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases in the Superior Court, including the Office of the Clerk of the Superior Court, and Justice Courts. Clerk of the Court EDMS — (Fund 274) The Clerk of Court EDMS Fund was established to account for Electronic Document Management System (EDMS) Fees, which are collected as authorized by Board Agenda C16020028, ADM1005 and State Attorney General’s Opinion 195-18 (R94-63). 107 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Clerk of the Court Grants — (Fund 216) Accounts for the grant funds that are utilized for the improvement of court automation systems, child support enforcement and the processing of criminal history dispositions. Conciliation Court Fees — (Fund 257) Accounts for the monies collected under A.R.S. §12-284E related to the dissolution of marriages. The funds collected are used by the Domestic Violence Shelter fund and the Child Abuse Prevention and Treatment fund. County Attorney Fill the Gap — (Fund 221) County Attorney Fill the Gap was set up as indicated by A.R.S. §412421F and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases by county attorneys. County Attorney Grants — (Fund 219) Accounts for funds that are utilized for the investigation and prosecution of child abuse and domestic violence cases and the enhancement of anti-gang enforcement efforts to deter, investigate, prosecute or adjudicate gang offenders. Victim assistance is provided to include transportation, payment of emergency expenses, education programs and training to children’s advocates. County Attorney RICO — (Fund 213) Accounts for funds that provided by the sale of confiscated property pursuant to A.R.S. §13-2314.03. Operated by the County Attorney, RICO consists of all the activity of the Anti-Racketeering Program. Court Document Retrieval — (Fund 205) Accounts for the collection of an additional filing or appearance fee, not to exceed $15, to be used to defray the cost of converting the Clerk of Superior Court’s document storage and retrieval system to micrographics or computer automation as established by A.R.S. §12-284.01. Criminal Justice Enhancement — (Fund 267) Accounts for monies that are allocated to the county attorneys from the Arizona State Criminal Justice Enhancement fund (A.R.S. §41-2401). The funds are to be used for the purpose of enhancing prosecutorial efforts. Del Webb Special Revenue — (Fund 235) Accounts for the revenue received from the Del Webb Anthem community that is restricted to expenditure for development services and recreational services supporting the community. Diversion — (Fund 220) Establishes the ability of counties to offer special supervision programs for non-violent offenders in order to divert them from incarceration (A.R.S. §11-361). Funds are used to provide alternatives to criminal prosecution to appropriate offenders so that they can receive drug rehabilitation services without the cost of prosecution. Domestic Relations Mediation Education — (Fund 282) Accounts for the funds that are utilized to establish, maintain and enhance programs designed to educate individuals regarding the impacts on children associated with marriage dissolution, legal separation, restructuring of families and the programs available for mediation of visitation or custody disputes, pursuant to A.R.S. §25-413. Operations are funded by revenues from a surcharge received by the Clerk for each filing of a post-adjudication petition in a domestic relation’s case, pursuant to A.R.S. §12-284. Educational Supplemental Program — (Fund 795) Established to collect Title VI-B monies received from the Arizona Department of Education. Elections Grants — (Fund 248) Elections Grants was set up to account for all grant activity administered by the Elections Department. Emancipation Administrative Costs – (Fund 277) Emancipation Administration Fund was established by A.R.S. §122456 consisting of filing fees for a petition for emancipation of a minor pursuant to section 12-284, subsection J. Emergency Management — (Fund 215) Emergency Management activity consists of disaster planning and training. Environmental Services Environmental Health — (Fund 506) Environmental Services – Environmental Health Fund was established to account for activities related to the protection of food and water supplies consumed by residents. Funding is provided by fees collected from Health Inspections and the sale of Health Permits. Expedited Child Support — (Fund 271) Accounts for the funds that are utilized to establish, maintain and enhance programs designed to expedite the processing of petitions filed and enforce the resultant court orders. Revenues collected for subsequent case filing fees for post-decree petitions in dissolution cases, pursuant to A.R.S. §25-412 and A.R.S. §12-284, fund operations. Flood Control — (Fund 991) Provides flood control facilities and regulates floodplains and drainage to prevent flooding of property and endangering the lives of people in Maricopa County. Operations are funded by a secondary tax levy. This fund is part of the Maricopa County Flood Control District, a legally separate entity, which is a blended component unit of Maricopa County. 108 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Flood Control Grants — (Fund 989) General Government Grants was set up to account for all non-department specific grant activity. This fund is part of the Maricopa County Flood Control District, a legally separate entity, which is a blended component unit of Maricopa County. Human Services Grants — (Fund 222) Accounts for the grant funds that are utilized for community action services designed to help the disadvantaged achieve self-sufficiency and family stability. Inmate Health Services — (Fund 254) Accounts for the co-payments received from inmates for self initiated health service pursuant to A.R.S. §31-161 and A.R.S. §31-162. Inmate Services — (Fund 252) Accounts for the funds that are held in trust for the benefit and welfare of the inmates, established under A.R.S. §31-121. The majority of revenues are derived from sales of food and sundries to inmates. Judicial Enhancement — (Fund 208) Revenues consist of fees and surcharges collected under authority of A.R.S. §12-284.03 and time payment fees collected under authority of A.R.S. §12-116. In addition, revenues are received from the State Judicial Enhancement Fund established by A.R.S. §12-113. Expenditures are used to improve, maintain and enhance the collection and management of funds and court automation projects. Justice Court Judicial Enhancement — (Fund 204) Revenues consist of fees and surcharges collected under the authority of A.R.S. §22-281; and time payment fees collected under authority of A.R.S. §12-116; and on-line access subscription fees collected under authority of A.R.S. §22-284. Expenditures are used to improve, maintain and enhance the ability to collect and manage monies assessed or received by the courts and to improve court automation projects. Justice Courts Photo Enforcement — (Fund 237) Established by the Board of Supervisors on November 4, 2009 (C24-10-001-M-00) to account for the Justice Courts fee revenue and operating expenditures associated with photo radar traffic enforcement. Justice Courts Special Revenue — (Fund 245) Established for the purpose of defraying expenses of justice court services by providing improvements in court technology, operations and facilities to enable the courts to respond quickly to changing statutory and case processing needs. Operations are funded by a user’s charge to be added to the Defensive Driving School Diversion Fee as of March 1, 1998. Juvenile Probation Diversion — (Fund 275) The Juvenile Probation Diversion fund was established by A.R.S. §11537 and consists of diversion fees that are collected pursuant to A.R.S. §8-321(N). The monies shall be used at the discretion of the county attorney for administering county community based alternative programs that are established pursuant to A.R.S. §8-321. Juvenile Probation Grants — (Fund 227) Accounts for the grant funds that are utilized for the child nutrition program, family counseling and safe schools program. Juvenile Probation Special Fees — (Fund 228) This fund was established by A.R.S. §12-268 to account for juvenile probation fees collected and used for the purpose of supplementing County General Fund appropriations for the compensation of personnel of the Juvenile Court. Juvenile Restitution — (Fund 229) Pursuant to A.R.S. §8-346, the fund was established for the payment of restitution in juvenile delinquency proceedings. This fund consists of state and local appropriations, gifts, devices and donations from any public or private source. Lake Pleasant Recreation Services — (Fund 240) Provides the public with positive leisure opportunities in a safe, accessible and efficient manner through quality development and programming while conserving and protecting unique and environmentally sensitive areas. Law Library Fees — (Fund 261) Established by A.R.S. §12-305 to account for a portion of the fees collected by the Clerk of Superior Court to be used for the purchase of books for the county law library. Legal Defender Fill the Gap — (Fund 263) Legal Defender Fill the Gap was set up as indicated by A.R.S. §41-2421F and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by counties for the processing of criminal cases by the county public defender, legal defender and contract indigent defense counsel in each county. Library District — (Funds 244/246) Provides and maintains library services for the residents of Maricopa County. Operations are funded by a secondary tax levy. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. 109 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Library District Grants — (Fund 242) Library District Grants was set up to account for all grant activity administered by the County Library District. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. Medical Examiner Grants — (Fund 224) Medical Examiner Grants was set up to account for all grant activity administered by the department of the Medical Examiner. Non-Departmental Grants — (Fund 249) Non-Departmental Grants was set up to account for all non-department specific grant activity. Officer Safety Equipment — (Fund 206) Accounts for the assessments that are received by the County for investigations or issued citations pursuant to A.R.S. §12-116.04. The monies in the fund should be used to supplement, not supplant, monies available for officer safety equipment. Palo Verde — (Fund 207) Palo Verde receives an annual allocation from the State of Arizona. Expenditures are utilized for nuclear disaster training. Parks and Recreation Grants — (Fund 230) Accounts for the grant funds that are utilized for state lake improvements, park restoration and the construction and maintenance of hiking trails. Parks Donations — (Fund 243) Accounts for donations and contributions activities provided for by citizens or groups. Parks Enhancement — (Fund 241) Accounts for park and recreation revenues and expenditures associated with enhancing parks and recreation programs pursuant to A.R.S. §11-941. Parks Souvenir — (Fund 239) Accounts for sales proceeds of sundry items at the Maricopa County Parks. Parks Spur Cross Ranch Conservation — (Fund 225) Accounts for the money collected from a Town imposed ½% transaction privilege tax for the operation of the County park. Planning and Development Fees — (Fund 226) Performs mandated community planning functions. provided mainly through license and impact fees. Funding is Probate Fees — (Fund 256) Administers the monies received by the Clerk of the Superior Court pursuant to A.R.S. §14-5314 and A.R.S. §14-5414 to preserve, audit, and safeguard the estates and wards for whom the court has a fiduciary responsibility. Public Defender Fill the Gap — (Fund 262) Public Defender Fill the Gap was set up as indicated by A.R.S. §41-2421F and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by counties for the processing of criminal cases by the county public defender, legal defender and contract indigent defense counsel in each county. Public Defender Grants — (Fund 233) Accounts for grant funds that are utilized for public defender training and to increase the processing of drug cases. Public Defender Training — (Fund 209) Established by A.R.S. §12-117 to account for fees that are paid on a time payment basis as established by A.R.S. §12-116. Expenditures are utilized for Public Defender Training. Public Health — (Fund 532) Protects, improves and preserves the physical, mental and social well being and the environment of the entire population of Maricopa County with a special responsibility to serve those most vulnerable. Federal and State grants fund operations. Public Health Fees — (Fund 265) Accounts for public health programs that are self-supported by Vital Health fees and pharmacy operations. Recorder’s Surcharge — (Fund 236) Accounts for the collection of a special recording surcharge, not to exceed four dollars, to be used to defray the cost of converting the County Recorder’s document storage and retrieval system to micrographics or computer automation as established by A.R.S. §11-475.01. School Communication Expense — (Fund 782) Accounts for management of centralized billings paid by Superintendent of Schools for multiple school districts. School Grants — (Fund 715) Accounts for all grant activity administered by the Superintendent of Schools. 110 Maricopa County Listing of Nonmajor Governmental Funds (Continued) School Transportation — (Fund 780) Established by A.R.S. §15-1001 to account for transportation aid for the transportation of children from unorganized territory to school districts within the County. Sheriff Donations — (Fund 203) Accounts for and segregates funds to be used in support of mandated functions. Funding is provided by non-specific donations and proceeds from the sale of donated items. Sheriff Grants — (Fund 251) Accounts for grant and intergovernmental funds that support and enhance Sheriff Office activities. Sheriff Jail Enhancement — (Fund 214) Per A.R.S. §41-2401, the Arizona State Department of Corrections allocates criminal justice enhancement fund to County Sheriffs for the purpose of enhancing County Jail facilities and operations. Sheriff RICO — (Fund 212) This fund consists of monies received as result of participation in any investigation or prosecution, whether by final judgment, settlement, or otherwise. Monies may be used for the funding of gang prevention programs, substance abuse prevention programs, substance abuse education programs, and witness protection or for any purposes permitted by federal law relating to the disposition of any property that is transferred to a law enforcement agency. Sheriff Towing and Impound — (Fund 258) Accounts for the fees collected for the removal, immobilization, impoundment, storage, and release of a vehicle pursuant to A.R.S. § 28-3513. The monies in the fund shall be used for the purpose implemented in A.R.S. §28-872. Small School Service — (Fund 669) Established per A.R.S. §15-365 to account for service programs operated through the County School Superintendent. Spousal Maintenance Enforcement Enhancement — (Fund 276) The Spousal Maintenance Enforcement Enhancement Fund is established for the Clerk of the Superior Court consisting of monies received pursuant to A.R.S. §12-289. The Clerk will spend monies in the fund to enhance enforcement of spousal maintenance orders. In addition to the fees required by section A.R.S. §12-284, the clerk shall charge and collect a surcharge of five dollars for each filing of a petition or an answer for annulment, dissolution of marriage or legal separation. The clerk will use the surcharge only for the purposes prescribed by this statute. Street Lighting District — (Fund 992) Provides street lighting in unincorporated areas of Maricopa County. Operations are funded by special assessment. Superior Court Fill the Gap — (Fund 264) Superior Court Fill the Gap was set up as indicated by A.R.S. §41-2421F and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases in the superior court, including the office of the clerk of the superior court, and justice courts. Superior Court Grants — (Fund 238) Grant funds are used for drug enforcement accounting, court appointed special advocates and case processing assistance. Superior Court Special Revenue — (Fund 259) Accounts for monies received under an intergovernmental agreement with the Department of Economic Security to conduct Title IV-D child support enforcement enhancements. Taxpayer Information — (Fund 741) Consist of monies collected from the public records copy surcharge imposed under A.R.S. §11-496, the tax-lien-processing fee imposed pursuant to A.R.S. §42-18116, $50 of each judgment-deed fee collected pursuant to A.R.S. §42-18205, interest earned from the elderly assistance fund pursuant to A.R.S. §4217401 and the community facilities district special assessment fee imposed pursuant to A.R.S. §48-721. The County Treasurer shall administer the fund and spend monies in the fund only to defray the cost of converting or upgrading an automated public information system. (Fund 741 is for financial statement roll up purposes, off Advantage.) Transportation Grants — (Fund 223) Transportation Grants was set up to account for all grant activity administered by the County Transportation Department. Transportation Operations — (Fund 232) Plans and implements an environmentally balanced multi-model transportation system. Operations are funded through highway user taxes. Victim Compensation Interest — (Fund 269) Established as authorized by A.R.S. §11-538 consisting of monies that are distributed pursuant to A.R.S. §12-286 (75 percent of the interest earned on restitution monies that are received in trust). The County Attorney shall use monies in the fund to assist eligible victims of crime with medical, counseling and funeral expenses and lost wages. 111 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Victim Compensation Restitution — (Fund 268) Established to administer funding provided from the State Victim Compensation and Assistance fund (A.R.S. §41-2407) and from prisoner supervision fees under A.R.S. §31-418. The fund is used for establishing, maintaining and supporting programs that compensate and assist victims of crime. Victim Location — (Fund 273) Revenues are derived from interest earned on restitution monies received in trust and are to be distributed to the County Attorney and Clerk of the Superior Court on a pro rata basis (County Attorney – 75% and Superior Court – 25%). Fund was established by A.R.S. §12-287. Waste Management — (Fund 210) Established by the Board of Supervisors to segregate this activity from the General Fund. This fund accounts for a fixed $65,000 fee from Waste Management Corporation plus a percentage based on the tonnages of refuse dumped. Expenditures are used for economic development in Mobile and other unincorporated areas of the County. Waste Tire — (Fund 290) Accounts for the operations activity of the waste tire processing center for the removal of waste tires from the County pursuant to A.R.S. §44-1305. Debt Service Funds Special Assessment — (Fund 994) Accounts for debt service on special assessment bonds. Funding is provided by special assessments made against the benefiting property owners. (Fund 994 is for financial statement roll up purposes, off Advantage.) Stadium District Debt Service — (Fund 370) Accounts for debt service on Stadium District revenue bonds. This fund is part of the Maricopa County Stadium District, a legally separate entity, which is a blended component unit of Maricopa County. Capital Projects Funds Detention Technology Capital Improvement — (Fund 461) Established by the Board of Supervisors to account for Detention Fund resources restricted for technology improvement projects consistent with A.R.S. §42-6109.01. Flood Control Capital Projects — (Fund 990) Set up administratively as a capital project fund to track capital projects activity of the Flood Control District. Funding is provided by a reimbursement transfer from the Flood Control District which derives its funding from an annual Property Tax Levy. Intergovernmental Capital Projects — (Fund 422) Accounts for capital project spending predominantly funded from General Fund revenues. Intergovernmental Technology Projects — (Fund 462) Accounts for capital project spending for technology improvement projects from special revenue funds. Library District Capital Improvement — (Fund 465) Accounts for Library District capital projects funded from Library District revenue transfers. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. Long Term Project Reserve — (Fund 450) Accounts for sales tax (Stadium Tax) proceeds collected in excess of the $238,000,000 cap imposed by County Board Resolution. This fund is part of the Maricopa County Stadium District, a legally separate entity, which is a blended component unit of Maricopa County. Special Improvement Districts — (Fund 993) Accounts for capital projects financed by the issuance of special assessment bonds. Transportation Capital Projects — (Fund 234) Established administratively as a capital project fund to track capital project activity of the County Transportation Department. Funding is provided by a reimbursement transfer from the Transportation Fund that derives its funding from the State Highways User’s Tax. 112 113 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds June 30, 2015 SPECIAL REVENUE FUNDS Animal Accommodation Schools Adult Adult Air Air Control Probation Fees Probation Grants Quality Fees Quality Grants Field Operations ASSETS Cash in bank and on hand $ $ $ $ $ $ Cash and investments held by County Treasurer 1,952,247 2,362,062 Receivables 361,108 1,919 12,411,635 1,438,992 18,938 2,748 Due from other funds Due from other governmental units 157,860 410,401 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,952,247 $ 90,705 $ 2,363,981 $ 518,968 $ $ 64,462 $ 12,430,573 $ 410,401 $ 1,441,740 $ $ 88,352 $ 95,672 LIABILITIES Accounts payable Employee compensation payable 83,419 858 37,265 212,649 194,372 29,614 50,262 Accrued liabilities Due to other funds 322,047 Interest payable Special assessment debt with governmental commitment Unearned revenue 454,506 Deposits held for other parties 90,705 Total liabilities 84,277 556,233 407,021 440,013 145,934 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 102,416 Unavailable revenue – intergovernmental 102,416 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 1,861,542 2,279,704 1,861,542 2,279,704 1,952,247 $ 2,363,981 12,023,552 1,295,806 Committed (139,681) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 114 (139,681) $ 518,968 (29,612) 12,023,552 $ 12,430,573 (29,612) $ 410,401 1,295,806 $ 1,441,740 SPECIAL REVENUE FUNDS Animal Animal Control Grants Control License/Shelter $ $ 152 2,680 Ballpark Operations $ 84,478 Cactus CDBG Check Child League Operations Housing Trust Enforcement Program Support Enhancement $ $ 3,248,494 8,194,060 4,634,629 4,423 12,977 7,070 $ 1,411,879 300 $ 113,759 911,523 1,356 2,692,109 147,307 176,935 $ 152 $ 3,402,904 $ 8,468,450 $ 4,641,699 $ 4,103,988 $ 114,059 $ $ 152 $ 347,633 $ 6,168 $ 1,000 $ 2,298,619 $ 1,635 $ 146,330 9,943 9,970 912,879 2,701 26 1,805,369 152 493,989 16,111 1,000 4,113,958 4,336 173,923 173,923 147,307 2,761,608 8,452,339 4,640,699 2,908,915 8,452,339 4,640,699 109,723 912,879 109,723 912,879 (183,893) $ 152 $ 3,402,904 $ 8,468,450 $ 4,641,699 (183,893) $ 4,103,988 $ 114,059 $ 912,879 (continued on next page) 115 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS Children’s Clerk of Clerk of Clerk of Conciliation Issues Education the Court EDMS Court Fill The Gap the Court Grants Court Fees ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer 17,446 790,591 Receivables 134,532 597,363 820 Due from other funds Due from other governmental units 260,435 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 17,446 $ 791,411 $ 134,532 $ 260,435 $ 597,363 LIABILITIES Accounts payable $ $ Employee compensation payable $ 46,228 $ 49,505 $ 5,648 Accrued liabilities Due to other funds 260,435 Interest payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties 46,228 49,505 17,446 745,183 85,027 17,446 745,183 85,027 Total liabilities 266,083 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 597,363 Committed (5,648) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 17,446 $ 116 791,411 $ 134,532 (5,648) $ 260,435 597,363 $ 597,363 SPECIAL REVENUE FUNDS Domestic County County County Court Criminal Relations Attorney Fill the Gap Attorney Grants Attorney RICO Document Retrieval Justice Enhancement Mediation Education $ $ 279,690 $ 459,306 1,696,591 $ 3,457,211 $ 399,013 Diversion $ 644,931 $ 1,354,783 45,656 107,063 2,053 314,839 92,210 $ 279,690 $ $ $ 31,665 866,355 $ 5,199,458 $ 3,192 $ 1,925 $ 109,211 399,013 $ 644,931 $ $ $ 1,356,836 $ 9,658 $ 107,063 21,864 35,564 43,632 1,624,092 21,864 35,564 53,290 3,575,366 377,149 609,367 1,303,546 107,063 3,575,366 377,149 609,367 1,303,546 107,063 863,166 1,622,167 31,665 975,569 145,073 145,073 248,025 (254,287) 248,025 $ 279,690 (254,287) $ 866,355 $ 5,199,458 $ 399,013 $ 644,931 $ 1,356,836 $ 107,063 (continued on next page) 117 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS Environmental Educational Emancipation Supplemental Program Elections Grants Services Administrative Costs Emergency Management Environmental Health ASSETS Cash in bank and on hand $ $ $ $ $ 1,100 Cash and investments held by County Treasurer 808,142 Receivables 632,272 5,040 127,288 9,205,487 1,110 14,224 Due from other funds Due from other governmental units 162,891 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 809,252 $ 575 $ 632,272 $ 5,040 $ 290,179 $ $ 13,802 $ 9,220,811 LIABILITIES Accounts payable $ Employee compensation payable $ 10,824 12,190 31,878 336,425 Accrued liabilities Due to other funds Interest payable Special assessment debt with governmental commitment Unearned revenue 632,272 241,790 632,272 267,782 Deposits held for other parties 11,399 Total liabilities 368,303 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 132,752 Unavailable revenue – intergovernmental 132,752 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 797,853 5,040 Committed 8,852,508 (110,355) Unassigned 797,853 Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 809,252 5,040 $ 118 632,272 $ 5,040 (110,355) $ 290,179 8,852,508 $ 9,220,811 SPECIAL REVENUE FUNDS Expedited Child Support $ Flood Control $ 241,312 440 Flood Human Inmate Control Grants Services Grants Health Services $ 22,345,058 $ $ 167,830 852,552 2,000 Justice Court Inmate Services $ Judicial Enhancement $ Judicial Enhancement $ 759,606 8,296,941 3,652,309 1,237,310 1,333 12,616 5,366 1,794 34,288 532,947 4,966,804 472,911 758 $ 241,312 $ 78,202 $ 23,673,719 $ 167,830 $ 4,966,804 $ 795,227 $ 8,842,504 $ 3,657,675 $ $ $ 82,929 $ 2,100,381 $ 150,562 $ $ $ 1,444,947 323,123 333,613 183,643 136,346 6,419 22,661 1,239,104 11,344 9,801 194 2,665,139 3,994 78,202 1,774,489 82,929 5,103,127 150,562 320,183 34,005 9,801 644,665 8,522,321 3,623,670 1,229,303 644,665 8,522,321 3,623,670 1,229,303 795,227 $ 8,842,504 446,998 1,251,871 446,998 1,251,871 472,911 163,110 20,979,321 84,901 163,110 21,452,232 84,901 (1,388,194) 241,312 $ 23,673,719 167,830 $ 4,966,804 (1,388,194) $ $ $ $ 3,657,675 $ 1,239,104 (continued on next page) 119 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS Justice Justice Courts Courts Juvenile Juvenile Probation Juvenile Photo Enforcement Special Revenue Probation Diversion Probation Grants Special Fees Juvenile Restitution ASSETS Cash in bank and on hand $ $ $ $ $ $ Cash and investments held by County Treasurer 8,226 Receivables 902,567 816,580 808 1,048 590,770 1,548,519 45,692 1,413 Due from other funds Due from other governmental units 144,500 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 8,226 $ 903,375 $ $ 73,448 $ 817,628 $ 735,270 $ $ 16,826 $ 1,549,932 $ 45,692 $ 1,836 LIABILITIES Accounts payable $ Employee compensation payable 8,802 67,502 Accrued liabilities Due to other funds Interest payable Special assessment debt with governmental commitment Unearned revenue 205,191 Deposits held for other parties 73,448 8,802 289,519 8,226 829,927 808,826 445,751 1,549,932 43,856 8,226 829,927 808,826 445,751 1,549,932 43,856 Total liabilities 1,836 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 8,226 $ 903,375 120 $ 817,628 $ 735,270 $ 1,549,932 $ 45,692 SPECIAL REVENUE FUNDS Lake $ Pleasant Law Legal Recreation Services Library Fees Defender Fill the Gap 910 $ $ 1,638,573 3,077,006 2,502 4,521 Library District $ 2,479 6,000 Library Medical Non- District Grants Examiner Grants Departmental Grants $ 7,540,046 $ $ 21,537 297,054 386,724 1,808 $ 1,641,985 $ 3,081,527 $ $ 32,703 $ 23,276 $ 31,663 2,479 $ 7,932,770 $ $ 1,366,190 $ 2,184 21,537 $ 1,808 $ $ 297,054 $ 219,710 772 1,808 21,537 64,366 25,460 1,585,900 297,054 21,537 1,808 297,826 277,894 277,894 1,577,619 3,056,067 2,479 6,068,976 1,577,619 3,056,067 2,479 6,068,976 (772) $ 1,641,985 $ 3,081,527 $ 2,479 $ 7,932,770 (772) $ 21,537 $ 1,808 $ 297,054 (continued on next page) 121 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS Officer Parks and Safety Equipment Palo Verde Recreation Grants Parks Donations Parks Enhancement ASSETS Cash in bank and on hand $ $ $ $ $ 200 Cash and investments held by County Treasurer 292,617 832,408 Receivables 48,686 1,266 686,158 2,658,800 1,033 3,943 Due from other funds Due from other governmental units 786 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 292,617 $ 833,674 $ $ 2,292 $ 49,472 $ 687,191 $ 2,662,943 $ 25,811 $ 266,661 LIABILITIES Accounts payable $ Employee compensation payable 8,276 74,303 Accrued liabilities Due to other funds Interest payable Special assessment debt with governmental commitment Unearned revenue 49,472 Deposits held for other parties 10,568 Total liabilities 49,472 25,811 340,964 661,380 2,321,979 661,380 2,321,979 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 786 Unavailable revenue – intergovernmental 786 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 292,617 823,106 292,617 823,106 Committed (786) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 292,617 $ 833,674 122 (786) $ 49,472 $ 687,191 $ 2,662,943 SPECIAL REVENUE FUNDS Parks Parks Souvenir $ Planning Spur Cross and Ranch Conservation Development Fees $ 27,273 200 $ 302,207 500 Probate Fees $ 4,721,782 Public Public Public Defender Fill the Gap Defender Grants Defender Training $ 229,818 $ 87,240 $ 6,206 Public Health $ 279,551 6,843 11,071,063 1,457,004 $ 27,273 $ $ 3,036 $ 302,407 $ 4,729,125 $ 229,818 $ $ 135,058 $ 4,050 $ 1,369 185,622 87,240 $ 335 $ 16,066 6,206 $ 279,551 $ 12,528,067 227 $ 22,611 $ 2,127,696 5,979 4,172 567,439 1,500 5,090,258 188,299 104,014 3,036 1,369 5,979 614,493 4,050 16,401 852,651 12,185 26,783 8,638,044 4,360,966 4,360,966 1,457,004 24,237 301,038 225,768 70,839 225,768 70,839 252,768 4,114,632 (5,979) 24,237 $ 27,273 301,038 $ 302,407 4,114,632 $ 4,729,125 $ 229,818 $ 87,240 (1,927,947) (5,979) $ 6,206 252,768 $ 279,551 (470,943) $ 12,528,067 (continued on next page) 123 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS School Recorder’s Surcharge Public Health Fees Communication Expense School Grants School Transportation Sheriff Donations ASSETS Cash in bank and on hand $ 6,700 $ $ $ $ $ Cash and investments held by County Treasurer Receivables 6,712,901 2,954,809 10,231 4,148 788,080 323,997 82,409 123,303 Due from other funds Due from other governmental units 5,346,568 Inventories 47,899 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 6,777,731 $ 2,958,957 $ 788,080 $ 5,670,565 $ $ 263,266 $ 21,645 $ 99,618 $ 1,559,849 $ 8,286 186,486 82,409 $ 123,303 LIABILITIES Accounts payable Employee compensation payable 68,472 59,823 $ Accrued liabilities Due to other funds 2,942,956 Interest payable Special assessment debt with governmental commitment Unearned revenue 843,766 Deposits held for other parties 331,738 Total liabilities 81,468 107,904 5,533,057 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 355,287 Unavailable revenue – intergovernmental 355,287 Total deferred inflows of resources FUND BALANCES Nonspendable 47,899 Restricted 6,398,094 2,877,489 680,176 6,445,993 2,877,489 680,176 (217,779) 788,080 $ 5,670,565 82,409 123,303 82,409 123,303 Committed (217,779) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 6,777,731 $ 2,958,957 124 $ $ 82,409 $ 123,303 SPECIAL REVENUE FUNDS Spousal Sheriff Sheriff Grants $ 67,307 Jail Enhancement $ 512,437 Sheriff RICO $ Sheriff Small Maintenance Street Superior Towing and Impound School Service Enforcement Enhancement Lighting District Court Fill the Gap $ 3,184,184 $ 143,901 $ 156,429 $ 111,389 $ 5,167,115 4,661 1,190,736 163,242 $ 1,770,480 $ 3,188,845 $ 163,242 $ $ 350,105 $ 199,131 $ 24,205 $ 103,001 143,901 $ 156,429 $ $ 11,162 $ 3,509 111,389 $ 5,167,115 $ $ $ 4,240 49,248 139,037 6,061 1,420,377 1,873,483 199,131 163,242 3,509 15,402 55,309 2,989,714 140,392 141,027 111,389 5,167,115 2,989,714 140,392 141,027 111,389 5,167,115 627,617 627,617 (730,620) (55,309) (730,620) $ 1,770,480 $ 3,188,845 $ 163,242 $ 143,901 $ 156,429 $ 111,389 $ 5,167,115 (55,309) $ (continued on next page) 125 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 SPECIAL REVENUE FUNDS Superior Superior Court Court Grants Special Revenue Taxpayer Information Transportation Grants Transportation Operations ASSETS Cash in bank and on hand $ $ $ $ $ 550 Cash and investments held by County Treasurer 168,550 1,453,348 Receivables 382,428 22,821 26,457,340 1,709 135,228 Due from other funds Due from other governmental units 159,884 10,458 17,433,657 Inventories 1,144,962 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 328,434 $ 1,455,057 $ $ 286,404 $ 7,838 $ 382,428 $ 33,279 $ 45,171,737 $ 3,301 $ 2,609,178 LIABILITIES Accounts payable Employee compensation payable 28,865 56 641,008 Accrued liabilities 3,304,576 Due to other funds Interest payable Special assessment debt with governmental commitment Unearned revenue 42,037 29,923 Deposits held for other parties 357,306 Total liabilities 7,838 33,280 6,554,762 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Total deferred inflows of resources 15,546 10,458 15,546 10,458 FUND BALANCES Nonspendable 1,144,962 Restricted 1,447,219 382,428 1,447,219 382,428 37,472,013 Committed (44,418) Unassigned Total liabilities, deferred inflows of resources, and fund balances (10,459) (44,418) Total fund balances $ 328,434 $ 1,455,057 126 $ 382,428 (10,459) $ 33,279 38,616,975 $ 45,171,737 SPECIAL REVENUE FUNDS Victim Victim Compensation Interest Compensation Restitution $ $ Victim Location $ 800,785 1,460,619 1,217 2,211 Waste Management $ 90,457 Waste Tire $ Total 150 $ 1,868,106 595,467 1,211,729 172,327,357 807 1,895 1,559,163 1,133,557 45,460,356 3,270,083 999,622 758 $ 802,002 $ $ 1,462,830 $ $ 90,457 $ $ 596,274 $ 2,347,331 $ 225,485,445 $ 7,088 $ 205,193 $ 17,164,860 1,791 4,346,942 3,312,715 11,427,741 7,957,383 1,726,181 7,088 206,984 45,935,822 724,892 7,176,695 7,901,587 3,270,083 802,002 1,462,830 90,457 589,186 2,140,347 160,516,552 12,967,140 (5,105,739) 802,002 $ 802,002 1,462,830 $ 1,462,830 90,457 $ 90,457 589,186 $ 596,274 2,140,347 $ 2,347,331 171,648,036 $ 225,485,445 (continued on next page) 127 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2015 DEBT SERVICE FUNDS Special Assessment CAPITAL PROJECTS FUNDS Stadium Detention Flood District Technology Control Capital Improvement Capital Projects Debt Service Total ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer 16,049 Receivables 66 16,115 23,145 39,458,075 17,419,435 23,145 Due from other funds Due from other governmental units 813,853 813,853 3,461,100 3,461,100 532,578 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 39,194 $ 4,275,019 $ 4,314,213 $ 39,458,075 $ 17,952,013 $ 430,543 $ 3,324,185 LIABILITIES Accounts payable $ $ $ Employee compensation payable Accrued liabilities Due to other funds Interest payable 2,269 2,269 12,481 12,481 14,750 14,750 6,890 6,890 6,890 6,890 Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Total liabilities 332,821 1,394,594 763,364 4,718,779 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 17,554 4,275,019 4,292,573 38,694,711 13,233,234 17,554 4,275,019 4,292,573 38,694,711 13,233,234 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 39,194 $ 4,275,019 128 $ 4,314,213 $ 39,458,075 $ 17,952,013 CAPITAL PROJECTS FUND Inter- Library Long Governmental District Term Special Transportation Capital Projects Capital Improvement Project Reserve Improvement Districts Capital Projects $ $ 128,809 $ 8,936,365 Total $ 234,224 $ 42,180 Nonmajor Governmental Funds Total $ 61,714,532 13,598 3,729,491 $ 1,868,106 127,933,620 300,277,092 13,598 1,595,906 4,262,069 50,536,278 3,270,083 $ 128,809 $ $ 8,949,963 $ 8,656 8,656 1,008,278 7,357,885 7,357,885 10,819,743 $ 139,575,828 $ 369,375,486 $ $ $ 7,600,765 $ $ 38,770 $ 42,180 $ 65,444,023 $ 3,926,364 7,719,862 24,884,722 4,346,942 450 450 3,313,165 11,427,741 2,269 12,481 38,770 450 3,926,364 1,727,415 7,957,383 3,453,596 9,447,727 55,398,299 724,892 7,183,585 7,908,477 3,270,083 8,949,963 7,561,995 41,730 61,517,659 129,999,292 294,808,417 128,809 13,095,949 (5,105,739) 61,517,659 130,128,101 306,068,710 65,444,023 $ 139,575,828 $ 369,375,486 128,809 128,809 $ 128,809 8,949,963 $ 8,949,963 7,561,995 $ 7,600,765 41,730 $ 42,180 $ (continued on next page) 129 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Adult Probation Fees Accommodation Schools Adult Probation Grants Air Quality Fees Animal Control Field Operations Air Quality Grants REVENUES Taxes $ $ $ $ Licenses and permits $ $ 11,056,505 Intergovernmental 4,954,276 7,279 2,600,510 Charges for services 9,832,213 Fines and forfeits 3,162,522 98,221 3,936,111 470,030 3,331,054 550,595 2,079 8,533 3,821 Special assessment Interest income 6,871 6,029 3,390 56,407 38,673 4,961,147 13,000,764 2,702,121 12,172,210 3,936,111 3,352,766 12,422,862 2,689,221 10,137,177 3,601,636 3,317,381 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education 5,196,228 Debt service: Principal Interest Other expenses 349,533 172,285 183,536 12,422,862 2,689,221 10,486,710 3,773,921 3,500,917 577,902 12,900 1,685,500 162,190 (148,151) Capital outlay 5,196,228 Total expenditures Excess (deficiency) of revenues (235,081) over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out (106,528) Capital lease agreements (106,528) Total other financing sources (uses) Net change in fund balances (235,081) Fund balances (deficit), July 1, 2014 577,902 2,096,623 1,701,802 12,900 1,685,500 162,190 (254,679) (152,581) 10,338,052 (191,802) 1,550,485 (139,681) $ 12,023,552 (29,612) $ 1,295,806 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 1,861,542 $ 2,279,704 130 $ $ SPECIAL REVENUE FUNDS Animal Control License/ Shelter Animal Control Grants $ $ Cactus League Operations Ballpark Operations $ 8,556,240 $ 1,351,453 CDBG Housing Trust $ Check Enforcement Program $ Child Support Enhancement $ 3,469,345 10,000 7,163,868 22,050 1,599,098 1,191,963 68,909 96,775 34 39,328 19,213 1,301,979 (18,591) (11,633) 3,235 680 4,328 71,412 11,476,530 4,642,717 1,339,820 7,167,103 97,455 73,237 128,897 11,250,276 6,826,503 1,651,958 1,255,492 11,283,619 1,651,958 1,255,492 6,906,503 128,897 192,911 2,990,759 84,328 260,600 (31,442) 73,237 (1,109,005) (1,619,986) (1,109,005) (1,619,986) 71,412 (916,094) 1,370,773 84,328 260,600 (31,442) 73,237 (71,412) 3,719,612 7,081,566 4,556,371 (444,493) 141,165 839,642 33,343 71,412 80,000 105,397 $ $ 2,908,915 $ 8,452,339 $ 4,640,699 $ (183,893) $ 109,723 $ 912,879 (continued on next page) 131 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Children’s Issues Education Clerk of the Court EDMS Clerk of Court Fill the Gap Clerk of the Court Grants Conciliation Court Fees County Attorney Fill the Gap REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 1,384,186 Charges for services 106,223 2,628,929 1,971,944 1,600,847 1,526,206 104 1,012 1,150 126 106,327 2,629,941 1,971,944 1,384,186 1,601,997 1,526,332 131,007 2,264,696 2,303,301 1,384,853 1,386,200 1,386,943 131,007 2,264,696 2,303,301 1,384,853 1,386,200 1,386,943 (24,680) 365,245 (331,357) (667) 215,797 139,389 (24,680) 365,245 (331,357) (667) 215,797 139,389 42,126 379,938 416,384 (4,981) 381,566 108,636 (5,648) $ 597,363 Fines and forfeits Special assessment Interest income Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Capital lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 17,446 $ 745,183 132 $ 85,027 $ $ 248,025 SPECIAL REVENUE FUNDS County Attorney Grants $ County Attorney RICO $ 5,398,269 Court Document Retrieval $ Criminal Justice Enhancement $ 2,663 Del Webb Special Revenue $ Domestic Relations Mediation Education Diversion $ $ 1,807,046 1,097,906 202,707 1,947,386 1,859,274 2,512 47,319 2,842 1,040 1,686 250 8,509 351 5,400,781 2,000,210 1,098,946 1,808,732 250 1,867,783 203,058 5,555,618 1,821,526 1,034,137 1,505,991 2,346,790 200,600 33,924 5,555,618 1,855,450 1,034,137 1,505,991 (154,837) 144,760 64,809 302,741 250 2,346,790 200,600 (479,007) 2,458 (515,875) (515,875) $ (154,837) 144,760 64,809 302,741 (515,625) (479,007) 2,458 (99,450) 3,430,606 312,340 306,626 515,625 1,782,553 104,605 (254,287) $ 3,575,366 $ 377,149 $ 609,367 $ $ 1,303,546 $ 107,063 (continued on next page) 133 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Educational Supplemental Program Emancipation Administrative Costs Elections Grants Environmental Services Environmental Health Emergency Management REVENUES Taxes $ $ $ $ $ Licenses and permits 15,502,826 Intergovernmental 533,296 115,040 567,438 Charges for services 635 210,274 3,773,006 Fines and forfeits 225,289 Special assessment Interest income 2,621 2,822 20 285 47,645 149,329 535,917 117,862 655 777,997 19,698,095 Miscellaneous Total revenues EXPENDITURES Current: General government 117,862 Public safety 894,424 Highways and streets Health, welfare and sanitation 20,260,569 Culture and recreation Education 189,151 Debt service: Principal Interest Other expenses 146,017 Capital outlay 189,151 Total expenditures 117,862 894,424 20,406,586 (116,427) (708,491) Excess (deficiency) of revenues 346,766 over expenditures 655 Transfers in 126,436 Transfers out (11,185) Capital lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 (11,185) 126,436 346,766 655 (127,612) (582,055) 451,087 4,385 17,257 9,434,563 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 797,853 $ $ 134 5,040 $ (110,355) $ 8,852,508 SPECIAL REVENUE FUNDS Expedited Child Support $ Flood Control Grants Flood Control $ 43,056,304 $ Human Services Grants $ Inmate Health Services $ Inmate Services Judicial Enhancement $ $ 347,390 152,712 273,709 41,175,886 685,602 1,022 228,160 1,204,497 686,624 44,989,063 273,709 26,628,203 188,808 41,175,886 910,000 342,699 11,233,876 1,443,901 3,640 40,199 4,275 16,800 346,339 11,278,350 1,460,701 184,046 10,927,683 888,601 41,947,908 360,855 155,953 910,000 27,506,315 878,112 188,808 42,308,763 339,999 10,927,683 1,023,057 134,456 (223,376) 17,482,748 84,901 (1,132,877) 6,340 350,667 437,644 84,901 (1,132,877) 6,340 350,667 437,644 (255,317) 638,325 8,171,654 3,186,026 (30,000,000) (30,000,000) (223,376) (12,517,252) 386,486 33,835,545 133,939 $ 163,110 $ 21,452,232 $ 84,901 $ (1,388,194) $ 644,665 $ 8,522,321 $ 3,623,670 (continued on next page) 135 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Justice Court Judicial Enhancement Justice Courts Photo Enforcement Justice Courts Special Revenue Juvenile Probation Diversion Juvenile Probation Special Fees Juvenile Probation Grants REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 3,753,114 Charges for services 995 Fines and forfeits 6,594,045 222,668 225,078 720,598 3,065,724 Special assessment Interest income 6,077 36 3,196 3,216 1,500 5,874 726,675 1,031 6,597,241 225,884 3,754,614 3,296,676 692,466 6,437,097 113,772 3,721,775 3,111,711 692,466 6,437,097 113,772 3,721,775 3,111,711 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 34,209 1,031 160,144 112,112 32,839 184,965 34,209 1,031 160,144 112,112 32,839 184,965 1,195,094 7,195 669,783 696,714 412,912 1,364,967 445,751 $ 1,549,932 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Capital lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 1,229,303 $ 8,226 136 $ 829,927 $ 808,826 $ SPECIAL REVENUE FUNDS Lake Pleasant Recreation Services Juvenile Restitution $ $ Law Library Fees $ Legal Defender Fill the Gap $ Library District Grants Library District $ 19,218,397 $ 375,194 2,494,534 1,224,431 4,521 361 212 1,267 7,307 192,060 12,901 8,212 79 26,805 483,871 1,479 2,698,422 1,245,905 66,441 25,215,204 571,993 66,362 8,864 66,362 23,361,880 195,828 200,738 7,581 200,738 10,700 571,993 66,362 23,372,580 (7,385) 181,596 673,912 79 1,842,624 (7,385) 181,596 673,912 79 1,842,624 51,241 1,396,023 2,382,155 2,400 4,226,352 1,577,619 7,581 7,581 2,516,826 $ 200,738 720,815 8,864 43,856 $ 4,390,122 2,320,998 $ Medical Examiner Grants $ 3,056,067 $ 2,479 $ 6,068,976 200,738 $ 7,581 $ (continued on next page) 137 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Non Departmental Grants Officer Safety Equipment Parks and Recreation Grants Palo Verde Parks Donations Parks Enhancement REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 3,951,576 756,264 13,611 Charges for services 3,236,372 Fines and forfeits 136,661 422 Special assessment Interest income 817 3,300 3,602 21,613 16,882 1,695,206 137,478 759,564 13,611 25,215 4,948,882 14,397 55,008 6,001,407 558,495 14,397 55,008 6,131,682 201,069 (786) (29,793) (1,182,800) 7,749 Miscellaneous 3,959,325 Total revenues EXPENDITURES Current: General government 3,997,898 Public safety 558,495 Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses 130,275 Capital outlay 3,997,898 Total expenditures Excess (deficiency) of revenues (38,573) over expenditures 137,478 OTHER FINANCING SOURCES (USES) Transfers in 89,298 Transfers out Capital lease agreements 89,298 Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 (38,573) 137,478 201,069 37,801 155,139 622,037 292,617 $ 823,106 (786) (29,793) (1,093,502) 691,173 3,415,481 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ (772) $ 138 (786) $ 661,380 $ 2,321,979 SPECIAL REVENUE FUNDS Parks Souvenir $ Parks Spur Cross Ranch Conservation $ Planning and Development Fees $ Public Defender Fill the Gap Probate Fees $ $ Public Defender Grants $ Public Defender Training $ Public Health $ 4,035,369 235,639 270,243 4,260,044 394,818 1,074,070 394,676 45,762,839 412,940 20,450 160 396,022 1,312 577 18,644 36,948 1,153 1,012 396,182 272,132 8,371,455 395,971 1,075,082 7,716,246 475,000 1,052,846 1,262 15,396 5,500 235,639 411,334 46,181,279 236,608 526,156 48,119,329 308,543 254,976 308,543 254,976 8,045,367 475,000 1,052,846 236,608 87,639 17,156 326,088 (79,029) 22,236 329,121 47,136 526,156 48,166,465 (969) (114,822) (1,985,186) (114,822) (1,985,186) 515,875 (89,298) (89,298) 515,875 (1,659) 17,156 841,963 (79,029) 22,236 (969) 25,896 283,882 3,272,669 304,797 48,603 (5,010) 367,590 785,953 728,290 $ 24,237 $ 301,038 $ 4,114,632 $ 225,768 $ 70,839 $ (5,979) $ 252,768 $ (470,943) (continued on next page) 139 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Public Health Fees School Communication Expense Recorder’s Surcharge School Grants School Transportation REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental Charges for services 6,161,732 3,472,672 31,206 16,761 6,192,938 3,489,433 19,288,105 534,959 692,904 19,288,105 534,959 265,926 19,203,403 546,615 692,904 Fines and forfeits Special assessment Interest income Miscellaneous Total revenues EXPENDITURES Current: General government 3,969,758 Public safety Highways and streets Health, welfare and sanitation 5,547,685 Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures 44,636 148,017 5,592,321 4,117,775 265,926 19,203,403 546,615 600,617 (628,342) 426,978 84,702 (11,656) 632,319 (628,342) 426,978 84,702 (11,656) 5,828,719 3,505,831 253,198 (302,481) 94,065 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 31,702 Transfers out Capital lease agreements 31,702 Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 Change in nonspendable resources: (15,045) Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 6,445,993 $ 2,877,489 140 $ 680,176 $ (217,779) $ 82,409 SPECIAL REVENUE FUNDS Sheriff Donations $ Sheriff Jail Enhancement Sheriff Grants $ $ 5,587,874 Sheriff Towing and Impound Sheriff RICO $ $ Spousal Maintenance Enforcement Enhancement Small School Service $ 1,388,044 $ 115,109 113,546 5,003 766,676 966,776 658 45,813 2,765 2,205 11,922 44 649 158,100 638 459 3,628 51,474 6,359,520 1,400,010 970,404 158,749 115,747 114,005 10,743 5,321,512 754,498 966,413 158,502 150,000 89,529 72,838 1,003,991 357,196 83,581 6,325,503 1,111,694 966,413 158,502 89,529 150,000 (32,107) 34,017 288,316 3,991 247 26,218 (35,995) (43,355) (43,355) $ (32,107) 34,017 288,316 3,991 247 (17,137) (35,995) 155,410 (764,637) 2,701,398 (3,991) 140,145 158,164 147,384 123,303 $ (730,620) $ 2,989,714 $ $ 140,392 $ 141,027 $ 111,389 (continued on next page) 141 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 SPECIAL REVENUE FUNDS Street Lighting District Superior Court Fill the Gap Superior Court Special Revenue Superior Court Grants Taxpayer Information Transportation Grants REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 1,403,264 Charges for services 2,141,359 1,524,660 176,509 4,894,827 225,558 Fines and forfeits Special assessment Interest income 6,014,834 20,456 1,964 32,607 Miscellaneous Total revenues 6,035,290 2,141,359 2,927,924 4,929,398 5,235,919 2,147,892 2,941,381 4,403,666 225,558 176,509 EXPENDITURES Current: General government Public safety 179,107 Highways and streets 177,007 Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Other expenses Capital outlay Total expenditures 5,235,919 2,147,892 2,941,381 4,403,666 179,107 177,007 799,371 (6,533) (13,457) 525,732 46,451 (498) 799,371 (6,533) (13,457) 525,732 46,451 (498) 4,367,744 (48,776) (30,961) 921,487 335,977 (9,961) (44,418) $ 1,447,219 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Capital lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 5,167,115 $ (55,309) 142 $ $ 382,428 $ (10,459) SPECIAL REVENUE FUNDS Victim Compensation Interest Transportation Operations $ $ Victim Compensation Restitution $ Victim Location $ Waste Management $ Waste Tire Total $ $ 1,033,985 63,626,154 44,008,939 107,976,645 7,638 4,731,031 266,727,782 233,310 87,773,221 120,201 14,372,128 6,014,834 366,780 1,286,177 9,693 11,016 7,242 2,296 1,958 71,956 7,923 1,084,486 7,220,711 110,671,225 20,709 127,443 2,296 73,914 4,972,264 490,828,255 11,429 33,714 5,594 38,684 8,264,625 123,550,726 53,829,757 54,006,764 4,748,796 156,867,860 35,425,397 25,490,852 2,849,630 7,717,382 56,679,387 11,429 33,714 5,594 38,684 4,748,796 411,323,606 53,991,838 9,280 93,729 (3,298) 35,230 223,468 79,504,649 763,311 (48,242,303) (81,737,535) (48,242,303) (80,974,224) 5,749,535 9,280 93,729 (3,298) 35,230 223,468 (1,469,575) 32,766,494 792,722 1,369,101 93,755 553,956 1,916,879 172,064,084 100,946 $ 38,616,975 1,053,527 $ 802,002 $ 1,462,830 $ 90,457 $ 589,186 $ 2,140,347 $ 171,648,036 (continued on next page) 143 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2015 DEBT SERVICE FUNDS Stadium District Debt Service Special Assessment CAPITAL PROJECTS FUNDS Detention Technology Capital Improvement Total Flood Control Capital Projects REVENUES Taxes $ $ 3,564,212 $ 3,564,212 $ $ Licenses and permits Intergovernmental 832,073 7,131,015 832,073 7,131,015 Charges for services Fines and forfeits Special assessment Interest income 445 445 3,564,657 3,564,657 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal 4,738 3,250,000 3,254,738 Interest 4,374 439,128 443,502 Other expenses 2,898 1,818 4,716 3,808,996 31,405,686 12,010 3,690,946 3,702,956 3,808,996 31,405,686 (12,010) (126,289) (138,299) (2,976,923) (24,274,671) Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 30,000,000 Transfers out (2,813,388) 1,013,591 Capital lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2014 (1,799,797) 30,000,000 (12,010) (126,289) (138,299) (4,776,720) 5,725,329 29,564 4,401,308 4,430,872 43,471,431 7,507,905 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2015 $ 17,554 $ 4,275,019 144 $ 4,292,573 $ 38,694,711 $ 13,233,234 CAPITAL PROJECTS FUNDS Intergovernmental Capital Projects $ Library District Capital Improvement $ Long Term Project Reserve $ Special Improvement Districts 39 $ Transportation Capital Projects $ Intergovernmental Tech Project $ Total Nonmajor Governmental Funds Total $ 39 $ 67,190,405 44,008,939 150 14,247,272 22,210,360 288,938,142 1,397,468 1,397,618 89,170,839 14,372,128 6,014,834 559 559 46,056 46,056 137 775,374 190 775,550 340 59,000 46,942 834,374 1,131,873 8,055,085 15,703,740 24,489,333 518,882,245 8,264,625 123,550,726 54,006,764 156,867,860 35,425,397 25,490,852 3,254,738 443,502 559 46,056 1,953,683 47,294,824 1,664,423 86,127,612 4,716 93,844,994 1,953,683 47,294,824 1,664,423 86,127,612 501,154,174 (31,591,084) (1,664,423) (61,638,279) 17,728,071 (1,178,133) 340 1,619,986 48,134,797 1,619,986 48,134,797 79,754,783 80,518,094 1,664,423 (2,813,388) 2,678,014 (84,550,923) 2,678,014 1,664,423 79,619,409 (1,354,815) 559 46,056 441,853 340 16,543,713 17,981,130 16,373,256 128,250 8,903,907 7,120,142 41,390 44,973,946 112,146,971 288,641,927 1,053,527 $ 128,809 $ 8,949,963 $ 7,561,995 $ 41,730 $ 61,517,659 $ $ 130,128,101 $ 306,068,710 (continued on next page) 145 146 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Adult Probation Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines and forfeits 9,046,900 $ 9,046,900 $ 9,832,213 $ 785,313 3,293,269 3,293,269 3,162,522 (130,747) 3,380 12,343,549 3,380 12,343,549 6,029 13,000,764 2,649 657,215 13,147,008 13,147,008 12,422,862 724,146 Total expenditures 280,000 13,427,008 280,000 13,427,008 12,422,862 280,000 1,004,146 Excess (deficiency) of revenues over expenditures (1,083,459) (1,083,459) 577,902 1,661,361 Net change in fund balances (1,083,459) (1,083,459) 577,902 1,661,361 1,083,459 1,083,459 1,701,802 Interest income Total revenues EXPENDITURES Current: Public safety Capital outlay Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ $ 147 $ 2,279,704 618,343 $ 2,279,704 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Adult Probation Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for services 2,726,995 $ 150,000 3,270,182 $ $ (669,672) 98,221 (51,779) 2,876,995 3,420,182 3,390 2,702,121 3,390 (718,061) 2,876,995 2,876,995 3,420,182 3,420,182 2,689,221 2,689,221 730,961 730,961 12,900 12,900 Interest income Total revenues 2,600,510 150,000 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (51,398) $ (51,398) 148 (51,398) $ (51,398) $ 12,900 12,900 (152,581) (101,183) (139,681) $ (88,283) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Air Quality Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ 10,146,067 $ 10,146,067 $ 11,056,505 $ 910,438 Charges for services 518,631 518,631 470,030 (48,601) Fines and forfeits 662,600 662,600 550,595 (112,005) 32,040 32,040 56,407 24,367 2,004 11,361,342 2,004 11,361,342 38,673 12,172,210 36,669 810,868 12,755,170 12,755,170 10,137,177 2,617,993 Total expenditures 350,000 13,105,170 350,000 13,105,170 349,533 10,486,710 467 2,618,460 Excess (deficiency) of revenues over expenditures (1,743,828) (1,743,828) 1,685,500 3,429,328 Net change in fund balances (1,743,828) (1,743,828) 1,685,500 3,429,328 7,425,761 5,681,933 7,425,761 5,681,933 10,338,052 12,023,552 Interest income Miscellaneous Total revenues EXPENDITURES Current: Health, welfare and sanitation Capital outlay Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 149 $ $ $ 2,912,291 6,341,619 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Air Quality Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 4,106,337 4,106,337 $ 4,106,337 4,106,337 $ 3,936,111 3,936,111 $ (170,226) (170,226) EXPENDITURES Current: Health, welfare and sanitation 4,106,337 4,106,337 3,601,636 504,701 4,106,337 172,285 3,773,921 (172,285) 332,416 162,190 162,190 162,190 162,190 Capital outlay 4,106,337 Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund deficit, June 30, 2015 (221,927) $ (221,927) 150 (221,927) $ (221,927) (191,802) $ (29,612) 30,125 $ 192,315 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Control Field Operations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ Charges for services 16,868 $ 3,422,570 Fines and forfeits Interest income 16,868 $ $ (9,589) 3,331,054 (91,516) 3,646 3,646 2,079 (1,567) 10,230 10,230 8,533 (1,697) 3,453,314 3,453,314 3,821 3,352,766 3,821 (100,548) 3,335,245 3,335,245 3,317,381 17,864 336,192 3,671,437 336,192 3,671,437 183,536 3,500,917 152,656 170,520 (218,123) (218,123) (148,151) 69,972 (106,528) (106,528) (106,528) (106,528) (106,528) (106,528) Miscellaneous Total revenues 7,279 3,422,570 EXPENDITURES Current: Health, welfare and sanitation Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (324,651) (324,651) (254,679) 69,972 1,572,314 1,572,314 1,550,485 (21,829) 1,247,663 151 $ 1,247,663 $ 1,295,806 $ 48,143 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Control Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for Services $ 55,000 Interest Income Miscellaneous Total revenues $ (1,484,157) 10,000 $ 22,050 10,000 1,506,207 3,200 3,200 34 (3,166) 1,480,957 1,539,157 1,480,957 39,328 71,412 (1,441,629) 71,412 71,412 71,412 EXPENDITURES Current: Health, welfare and sanitation 1,539,157 1,539,157 Total expenditures Excess of revenues under expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance, June 30, 2015 1,015,338 $ 1,015,338 152 1,015,338 $ 1,015,338 $ 71,412 71,412 (71,412) (1,086,750) $ (1,015,338) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Control License/Shelter Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ Charges for services 7,017,638 $ 7,917,638 $ 8,556,240 $ 638,602 1,363,150 1,363,150 1,599,098 14,208 14,208 19,213 5,005 388,036 8,783,032 1,927,193 11,222,189 1,301,979 11,476,530 (625,214) 254,341 7,749,000 11,474,457 11,250,276 224,181 Total expenditures 7,749,000 451,020 11,925,477 33,343 11,283,619 417,677 641,858 Excess (deficiency) of revenues over expenditures 1,034,032 (703,288) 192,911 896,199 (1,034,032) (1,034,032) (1,109,006) (1,109,005) (1,109,005) (1,109,005) 1 1 (1,812,294) (916,094) 896,200 3,376,560 3,719,612 343,052 Interest income Miscellaneous Total revenues 235,948 EXPENDITURES Current: Health, welfare and sanitation Capital outlay OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 3,376,560 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2015 105,397 $ 3,376,560 153 $ 1,564,266 $ 2,908,915 105,397 $ 1,344,649 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Ballpark Operations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ 3,422,385 $ 3,422,385 $ 3,469,345 $ 46,960 Charges for services 1,254,260 1,254,260 1,191,963 (62,297) Interest income 20,000 4,696,645 20,000 4,696,645 (18,591) 4,642,717 (38,591) (53,928) Total expenditures 1,711,052 1,711,052 1,711,052 1,711,052 1,651,958 1,651,958 59,094 59,094 Excess of revenues over expenditures 2,985,593 2,985,593 2,990,759 5,166 (1,385,778) (1,385,778) (1,619,986) (234,208) (1,385,778) (1,385,778) (1,619,986) (234,208) 1,599,815 1,599,815 1,370,773 (229,042) 6,863,859 8,463,674 6,863,859 8,463,674 7,081,566 8,452,339 Total revenues EXPENDITURES Current: Culture and recreation OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 154 $ $ $ 217,707 (11,335) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Cactus League Operations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ Interest income Total revenues 121,275 $ 121,275 $ 1,351,453 $ 1,230,178 14,000 135,275 14,000 135,275 (11,633) 1,339,820 (25,633) 1,204,545 1,274,756 1,274,756 1,329,321 1,329,321 1,255,492 1,255,492 73,829 73,829 (1,139,481) (1,194,046) 84,328 1,278,374 1,175,613 1,175,613 1,230,178 1,230,178 EXPENDITURES Current: Culture and recreation Total expenditures Excess (deficiency) of revenues under expenditures OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (1,230,178) (1,230,178) 36,132 36,132 84,328 4,473,681 4,509,813 4,473,681 4,509,813 4,556,371 4,640,699 155 $ $ 48,196 $ 82,690 130,886 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual CDBG Housing Trust Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 16,279,189 $ 17,204,787 $ Interest Income Total revenues 7,163,868 $ (10,040,919) 16,279,189 17,204,787 3,235 7,167,103 3,235 (10,037,684) 16,279,189 17,204,787 6,826,503 10,378,284 17,204,787 80,000 6,906,503 (80,000) 10,298,284 260,600 260,600 EXPENDITURES Current: Health, welfare and sanitation Capital outlay 16,279,189 Total expenditures Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (294,294) $ (294,294) 156 (294,294) $ (294,294) $ 260,600 260,600 (444,493) (150,199) (183,893) $ 110,401 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Check Enforcement Program Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ Interest income Total revenues 178,900 $ 178,900 $ 96,775 $ (82,125) 1,158 180,058 1,158 180,058 680 97,455 (478) (82,603) 180,058 180,058 180,058 180,058 128,897 128,897 51,161 51,161 (31,442) (31,442) (31,442) (31,442) EXPENDITURES Current: Public safety Total expenditures Excess of revenues under expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 190,485 $ 190,485 157 190,485 $ 190,485 141,165 $ 109,723 (49,320) $ (80,762) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Child Support Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 78,690 Interest income $ 78,690 $ 68,909 $ (9,781) Total revenues 3,600 82,290 3,600 82,290 4,328 73,237 728 (9,053) Excess of revenues over expenditures 82,290 82,290 73,237 (9,053) Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 82,290 82,290 73,237 (9,053) 824,945 824,945 839,642 14,697 907,235 158 $ 907,235 $ 912,879 $ 5,644 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Children’s Issues Education Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 111,007 $ 111,007 $ 106,223 $ (4,784) 4,000 115,007 4,000 115,007 104 106,327 (3,896) (8,680) Total expenditures 140,007 140,007 140,007 140,007 131,007 131,007 9,000 9,000 Deficiency of revenues under expenditures (25,000) (25,000) (24,680) 320 Net change in fund balances (25,000) (25,000) (24,680) 320 38,373 38,373 42,126 3,753 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 13,373 159 $ 13,373 $ 17,446 $ 4,073 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of Court Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Total revenues 1,740,549 1,740,549 $ 1,971,944 1,971,944 $ 1,971,944 1,971,944 $ EXPENDITURES Current: Public safety 2,054,822 2,054,822 2,386,957 2,386,957 2,303,301 2,303,301 83,656 83,656 Deficiency of revenues under expenditures (314,273) (415,013) (331,357) 83,656 Net change in fund balances (314,273) (415,013) (331,357) 83,656 314,273 314,273 416,384 102,111 Total expenditures Fund balance, July 1, 2014 Fund balance (deficit), June 30, 2015 $ $ 160 (100,740) $ 85,027 $ 185,767 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court EDMS Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 2,632,872 $ 2,632,872 $ Interest income Total revenues 2,628,929 $ (3,943) 2,632,872 2,632,872 1,012 2,629,941 1,012 (2,931) 2,632,872 2,632,872 2,632,872 2,632,872 2,264,696 2,264,696 368,176 368,176 365,245 365,245 365,245 365,245 EXPENDITURES Current: Public safety Total expenditures Excess of revenues under expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 228,675 $ 228,675 161 228,675 $ 228,675 379,938 $ 745,183 151,263 $ 516,508 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 1,484,995 1,484,995 $ 1,855,435 1,855,435 $ 1,384,186 1,384,186 $ (471,249) (471,249) EXPENDITURES Current: Public safety 1,484,995 1,484,995 Total expenditures 1,855,435 1,855,435 Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (3,723) $ (3,723) 162 (3,723) $ (3,723) $ 1,384,853 1,384,853 470,582 470,582 (667) (667) (667) (667) (4,981) (1,258) (5,648) $ (1,925) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Conciliation Court Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,440,000 $ 1,440,000 $ 1,600,847 $ 160,847 1,200 1,441,200 1,200 1,441,200 1,150 1,601,997 (50) 160,797 1,616,200 1,616,200 1,616,200 1,616,200 1,386,200 1,386,200 230,000 230,000 Excess (deficiency) of revenues under expenditures (175,000) (175,000) 215,797 390,797 Net change in fund balances (175,000) (175,000) 215,797 390,797 210,251 210,251 381,566 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 35,251 163 $ 35,251 $ 597,363 171,315 $ 562,112 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Interest income Total revenues 1,553,630 $ 1,553,630 $ 1,526,206 $ (27,424) 2,000 1,555,630 2,000 1,555,630 126 1,526,332 (1,874) (29,298) 1,555,630 1,555,630 1,555,630 1,555,630 1,386,943 1,386,943 168,687 168,687 139,389 139,389 139,389 139,389 EXPENDITURES Current: Public safety Total expenditures Excess of revenues under expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 87,703 $ 87,703 164 87,703 $ 87,703 108,636 $ 248,025 20,933 $ 160,322 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Interest income Total revenues 5,181,349 $ 5,798,112 $ 5,398,269 $ (399,843) 4,000 5,185,349 4,000 5,802,112 2,512 5,400,781 (1,488) (401,331) 5,185,349 5,185,349 5,802,112 5,802,112 5,555,618 5,555,618 246,494 246,494 (154,837) (154,837) (154,837) (154,837) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues under expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance (deficit), June 30, 2015 360,411 $ 360,411 165 360,411 $ 360,411 (99,450) $ (254,287) (459,861) $ (614,698) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney RICO Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Fines and forfeits $ $ 2,663 $ 2,663 1,961,881 1,961,881 1,947,386 (14,495) 50,159 50,159 47,319 (2,840) 2,012,040 2,012,040 2,842 2,000,210 2,842 (11,830) 3,722,040 3,722,040 1,821,526 1,900,514 3,722,040 3,722,040 33,924 1,855,450 (33,924) 1,866,590 Excess (deficiency) of revenues under expenditures (1,710,000) (1,710,000) 144,760 1,854,760 Net change in fund balances (1,710,000) (1,710,000) 144,760 1,854,760 2,639,197 2,639,197 3,430,606 Interest income Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 929,197 166 $ 929,197 $ 3,575,366 791,409 $ 2,646,169 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Court Document Retrieval Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,147,606 $ 1,147,606 $ Interest income Total revenues 1,097,906 $ (49,700) 1,147,606 1,147,606 1,040 1,098,946 1,040 (48,660) 1,147,606 1,147,606 1,147,606 1,147,606 1,034,137 1,034,137 113,469 113,469 64,809 64,809 64,809 64,809 EXPENDITURES Current: Public safety Total expenditures Excess of revenues under expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 260,895 $ 260,895 167 260,895 $ 260,895 312,340 $ 377,149 51,445 $ 116,254 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Criminal Justice Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Interest income 1,475,000 $ 1,475,000 $ 1,807,046 $ 332,046 2,500 1,477,500 2,500 1,477,500 1,686 1,808,732 (814) 331,232 1,621,686 1,621,686 1,621,686 1,621,686 1,505,991 1,505,991 115,695 115,695 Excess (deficiency) of revenues under expenditures (144,186) (144,186) 302,741 446,927 Net change in fund balances (144,186) (144,186) 302,741 446,927 435,264 435,264 306,626 (128,638) Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 291,078 168 $ 291,078 $ 609,367 $ 318,289 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Del Webb Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income Total revenues $ $ $ 250 250 $ 250 250 Excess (deficiency) of revenues over expenditures 250 250 OTHER FINANCING USES Transfers out Total other financing uses (525,000) (525,000) (525,000) (525,000) (515,875) (515,875) 9,125 9,125 Net change in fund balances (525,000) (525,000) (515,625) 9,375 525,000 525,000 515,625 Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ $ 169 $ 9,375 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Diversion Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ 1,420,000 Interest income $ 1,420,000 $ 1,859,274 $ 439,274 9,500 1,429,500 9,500 1,429,500 8,509 1,867,783 (991) 438,283 2,697,823 2,697,823 2,697,823 2,697,823 2,346,790 2,346,790 351,033 351,033 Deficiency of revenues under expenditures (1,268,323) (1,268,323) (479,007) 789,316 Net change in fund balances (1,268,323) (1,268,323) (479,007) 789,316 1,617,799 1,617,799 1,782,553 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 349,476 170 $ 349,476 $ 1,303,546 164,754 $ 954,070 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Domestic Relations Mediation Education Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 180,000 $ 180,000 $ 202,707 $ 22,707 600 180,600 600 180,600 351 203,058 (249) 22,458 Total expenditures 205,600 205,600 205,600 205,600 200,600 200,600 5,000 5,000 Excess (deficiency) of revenues over expenditures (25,000) (25,000) 2,458 27,458 Net change in fund balances (25,000) (25,000) 2,458 27,458 91,415 91,415 104,605 Total revenues EXPENDITURES Current: Health, welfare and sanitation Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 66,415 171 $ 66,415 $ 107,063 13,190 $ 40,648 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Educational Supplemental Program Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 332,292 $ 332,292 $ Interest income 533,296 $ 201,004 332,292 332,292 2,621 535,917 684,430 684,430 684,430 684,430 189,151 189,151 495,279 495,279 Excess (deficiency) of revenues under expenditures (352,138) (352,138) 346,766 698,904 Net change in fund balances (352,138) (352,138) 346,766 698,904 Total revenues 2,621 203,625 EXPENDITURES Current: Education Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 352,138 $ 352,138 $ 172 $ 451,087 797,853 $ 98,949 797,853 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Elections Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 861,153 $ 861,153 $ Interest income Total revenues 115,040 861,153 861,153 2,822 117,862 861,153 861,153 861,153 861,153 117,862 117,862 $ (746,113) 2,822 (743,291) 743,291 743,291 EXPENDITURES Current: General government Total expenditures Excess revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 961,325 $ 961,325 173 961,325 $ 961,325 (961,325) $ $ (961,325) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Emancipation Administrative Costs Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income 635 $ 635 20 655 20 655 Excess of revenues under expenditures 655 655 Net change in fund balances 655 655 Total revenues EXPENDITURES Current: Public Safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 4,130 $ 4,130 174 4,130 $ 4,130 4,385 $ 5,040 255 $ 910 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Emergency Management Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for services 658,444 $ 201,097 832,666 $ 567,438 $ (265,228) 211,097 210,274 (823) 859,541 1,043,763 285 777,997 285 (265,766) Total expenditures 874,990 874,990 1,048,027 1,048,027 894,424 894,424 153,603 153,603 Deficiency of revenues under expenditures (15,449) (4,264) (116,427) (112,163) (11,185) (11,185) (11,185) (11,185) (15,449) (15,449) (127,612) (51,513) (66,962) (51,513) (66,962) 17,257 (110,355) Interest Income Total revenues EXPENDITURES Current: Public safety OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance (deficit), July 1, 2014 Fund deficit, June 30, 2015 $ 175 $ $ (112,163) $ 68,770 (43,393) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Environmental Services Environmental Health Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ Charges for services 15,865,080 $ 15,865,080 $ 15,502,826 $ (362,254) 3,780,815 3,780,815 3,773,006 (7,809) 200,085 200,085 225,289 25,204 26,000 26,000 47,645 21,645 1,200 19,873,180 1,200 19,873,180 149,329 19,698,095 148,129 (175,085) 21,097,440 21,097,440 20,260,569 836,871 Total expenditures 1,075,400 22,172,840 1,075,400 22,172,840 146,017 20,406,586 929,383 1,766,254 Deficiency of revenues under expenditures (2,299,660) (2,299,660) (708,491) 1,591,169 126,436 126,436 126,436 126,436 Fines and forfeits Interest income Miscellaneous Total revenues EXPENDITURES Current: Health, welfare and sanitation Capital outlay OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (2,299,660) (2,173,224) (582,055) 6,719,518 6,719,518 9,434,563 4,419,858 176 $ 4,546,294 $ 8,852,508 1,591,169 2,715,045 $ 4,306,214 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Expedited Child Support Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 579,300 $ 579,300 $ 685,602 $ 106,302 5,700 585,000 5,700 585,000 1,022 686,624 910,000 910,000 910,000 910,000 910,000 910,000 Deficiency of revenues under expenditures (325,000) (325,000) (223,376) 101,624 Net change in fund balances (325,000) (325,000) (223,376) 101,624 340,260 340,260 386,486 Total revenues (4,678) 101,624 EXPENDITURES Current: Health, welfare and sanitation Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 15,260 177 $ 15,260 $ 163,110 46,226 $ 147,850 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Fund – Special Revenue Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ 43,100,665 $ 43,100,665 $ 43,056,304 $ (44,361) Licenses and permits 174,600 174,600 347,390 Intergovernmental 152,482 152,482 152,712 230 Interest income 250,000 250,000 228,160 (21,840) 343,926 44,021,673 343,926 44,021,673 1,204,497 44,989,063 860,571 967,390 31,441,875 31,441,875 26,628,203 4,813,672 Total expenditures 1,053,518 32,495,393 1,053,518 32,495,393 878,112 27,506,315 175,406 4,989,078 Excess of revenues over expenditures 11,526,280 11,526,280 17,482,748 5,956,468 Total other financing uses (30,000,000) (30,000,000) (30,000,000) (30,000,000) (30,000,000) (30,000,000) Net change in fund balances (18,473,720) (18,473,720) (12,517,252) 5,956,468 29,943,735 29,943,735 33,835,545 3,891,810 Miscellaneous Total revenues 172,790 EXPENDITURES Current: Public safety Capital outlay OTHER FINANCING USES Transfers out Fund balance, July 1, 2014 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2015 133,939 $ 11,470,015 178 $ 11,470,015 $ 21,452,232 133,939 $ 9,982,217 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ Total revenues 500,000 500,000 $ 273,709 273,709 $ (226,291) (226,291) EXPENDITURES Current: Public safety Capital outlay 500,000 500,000 Total expenditures Excess of revenues over expenditures Net change in fund balances (188,808) 188,808 500,000 311,192 84,901 84,901 84,901 Fund balance, July 1, 2014 Fund balance, June 30, 2015 188,808 37,500 $ 37,500 179 84,901 37,500 $ 37,500 (37,500) $ 84,901 $ 47,401 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Human Services Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 44,319,456 $ 46,915,797 $ 41,175,886 $ (5,739,911) 44,319,456 46,915,797 41,175,886 (5,739,911) 44,319,456 46,887,774 28,023 41,947,908 360,855 4,939,866 (332,832) 44,319,456 46,915,797 42,308,763 4,607,034 (1,132,877) (1,132,877) (1,132,877) (255,317) (1,132,877) 1,633,781 EXPENDITURES Current: Health, welfare and sanitation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances (1,889,098) Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 $ (1,889,098) 180 (1,889,098) $ (1,889,098) $ (1,388,194) $ 500,904 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Health Services Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 199,420 580 Interest income $ 199,420 580 $ 342,699 3,640 $ 143,279 3,060 200,000 200,000 346,339 146,339 200,000 140,000 200,000 140,000 184,046 155,953 15,954 (15,953) 340,000 340,000 339,999 1 Excess (deficiency) of revenues over expenditures (140,000) (140,000) 6,340 146,340 Net change in fund balances (140,000) (140,000) 6,340 146,340 605,709 605,709 638,325 Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 465,709 181 $ 465,709 $ 644,665 32,616 $ 178,956 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Services Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 10,954,619 Interest income Miscellaneous Total revenues $ 10,954,619 $ 11,233,876 $ 279,257 22,846 22,846 40,199 17,353 4,885 10,982,350 4,885 10,982,350 4,275 11,278,350 (610) 296,000 10,982,350 10,982,350 10,982,350 10,982,350 10,927,683 10,927,683 54,667 54,667 350,667 350,667 350,667 350,667 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 8,046,735 $ 8,046,735 182 8,046,735 $ 8,046,735 8,171,654 $ 8,522,321 124,919 $ 475,586 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Judicial Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 1,457,800 $ 1,457,800 $ 1,443,901 $ (13,899) 8,400 1,466,200 8,400 1,466,200 16,800 1,460,701 8,400 (5,499) 1,346,159 1,537,519 888,601 648,918 150,000 1,496,159 150,000 1,687,519 134,456 1,023,057 15,544 664,462 (29,959) (221,319) 437,644 658,963 658,963 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (29,959) (221,319) 437,644 2,763,514 2,763,514 3,186,026 2,733,555 183 $ 2,542,195 $ 3,623,670 422,512 $ 1,081,475 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Court Judicial Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ Interest income Total revenues 786,600 $ 786,600 $ 720,598 $ (66,002) 5,400 792,000 5,400 792,000 6,077 726,675 677 (65,325) 792,000 792,000 792,000 792,000 692,466 692,466 99,534 99,534 34,209 34,209 34,209 34,209 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 1,143,258 $ 1,143,258 184 1,143,258 $ 1,143,258 1,195,094 $ 1,229,303 51,836 $ 86,045 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Courts Photo Enforcement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,700 100 $ 1,700 100 $ 995 36 $ 1,800 1,800 46,800 46,800 46,800 46,800 46,800 46,800 Excess (deficiency) of revenues under expenditures (45,000) (45,000) 1,031 46,031 Net change in fund balances (45,000) (45,000) 1,031 46,031 Total revenues 1,031 (705) (64) (769) EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 45,000 $ 45,000 $ 185 $ 7,195 8,226 $ (37,805) 8,226 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Courts Special Revenue Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 6,476,600 $ 6,476,600 $ 6,594,045 $ 117,445 2,400 6,479,000 2,400 6,479,000 3,196 6,597,241 796 118,241 6,479,000 6,479,000 6,479,000 6,479,000 6,437,097 6,437,097 41,903 41,903 160,144 160,144 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 804,698 804,698 $ 186 $ 804,698 804,698 $ 160,144 160,144 669,783 829,927 (134,915) 25,229 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Diversion Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 245,994 Interest income Total revenues $ 245,994 $ 222,668 $ (23,326) 5,524 5,524 3,216 (2,308) 251,518 251,518 225,884 (25,634) EXPENDITURES Current: 334,503 334,503 113,772 220,731 Total expenditures 334,503 334,503 113,772 220,731 Excess (deficiency) of revenues over expenditures (82,985) (82,985) 112,112 195,097 (82,985) (82,985) 112,112 195,097 716,850 716,850 696,714 Public safety Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 633,865 187 $ 633,865 $ 808,826 (20,136) $ 174,961 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 4,160,865 $ 4,356,326 $ Interest income Total revenues 3,753,114 $ (603,212) 4,160,865 4,356,326 1,500 3,754,614 1,500 (601,712) 4,160,865 4,160,865 4,356,326 4,356,326 3,721,775 3,721,775 634,551 634,551 32,839 32,839 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance (deficit), June 30, 2015 (196,713) $ (196,713) 188 (196,713) $ (196,713) $ 32,839 32,839 412,912 609,625 445,751 $ 642,464 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Special Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines and forfeits Interest income Total revenues 248,000 $ 248,000 $ 225,078 $ (22,922) 3,293,269 5,500 3,293,269 5,500 3,065,724 5,874 (227,545) 374 3,546,769 3,546,769 3,296,676 (250,093) 3,830,500 3,830,500 3,111,711 718,789 3,830,500 3,830,500 3,111,711 718,789 (283,731) (283,731) 184,965 468,696 468,696 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (283,731) (283,731) 184,965 1,310,479 1,310,479 1,364,967 1,026,748 189 $ 1,026,748 $ 1,549,932 54,488 $ 523,184 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Restitution Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 865 $ 865 $ 212 $ (653) 9,135 10,000 9,135 10,000 1,267 1,479 (7,868) (8,521) 10,000 10,000 10,000 10,000 8,864 8,864 1,136 1,136 (7,385) (7,385) (7,385) (7,385) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 53,758 $ 53,758 190 53,758 $ 53,758 51,241 $ 43,856 (2,517) $ (9,902) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Lake Pleasant Recreation Services Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 2,255,585 Fines and forfeits Interest income Miscellaneous Total revenues $ 2,255,585 $ 2,494,534 $ 238,949 340 340 4,521 4,181 8,096 250,671 8,096 250,671 7,307 192,060 (789) (58,611) 2,514,692 2,514,692 2,698,422 183,730 2,912,692 300,000 2,912,692 300,000 2,320,998 195,828 591,694 104,172 3,212,692 3,212,692 2,516,826 695,866 (698,000) (698,000) 181,596 879,596 879,596 EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Excess (deficiency) of revenues under expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (698,000) (698,000) 181,596 1,402,106 1,402,106 1,396,023 704,106 191 $ 704,106 $ 1,577,619 (6,083) $ 873,513 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Law Library Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines and forfeits Interest income Miscellaneous Total revenues 1,276,250 $ 1,276,250 $ 1,224,431 $ (51,819) 1,750 1,750 361 (1,389) 10,500 7,500 10,500 7,500 12,901 8,212 2,401 712 1,296,000 1,296,000 1,245,905 (50,095) 1,546,000 1,546,000 571,993 974,007 1,546,000 1,546,000 571,993 974,007 (250,000) (250,000) 673,912 923,912 923,912 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (250,000) (250,000) 673,912 2,151,550 2,151,550 2,382,155 1,901,550 192 $ 1,901,550 $ 3,056,067 230,605 $ 1,154,517 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Legal Defender Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 66,362 $ 66,362 $ Interest income Total revenues 66,362 66,362 66,362 79 66,441 66,362 66,362 66,362 66,362 66,362 66,362 $ 79 79 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 2,320 $ 2,320 193 2,320 $ 2,320 79 79 79 79 2,400 $ 2,479 80 $ 159 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ Intergovernmental 19,255,955 $ 19,255,955 $ 19,218,397 $ (37,558) 377,686 377,686 375,194 (2,492) 4,442,173 4,442,173 4,390,122 (52,051) Fines and forfeits 711,395 711,395 720,815 9,420 Interest income 50,000 197,193 50,000 209,768 26,805 483,871 (23,195) 274,103 25,034,402 25,046,977 25,215,204 168,227 25,226,495 25,239,070 23,361,880 10,700 1,877,190 (10,700) 25,226,495 25,239,070 23,372,580 1,866,490 (192,093) (192,093) 1,842,624 2,034,717 444,350 (444,350) 444,350 (444,350) Charges for services Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Excess (deficiency) of revenues under expenditures OTHER FINANCING SOURCES (USES) Transfer in Transfer out (444,350) 444,350 Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (192,093) (192,093) 1,842,624 4,225,672 4,225,672 4,226,352 4,033,579 194 $ 4,033,579 $ 6,068,976 2,034,717 680 $ 2,035,397 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ Miscellaneous Total revenues 214,521 7,754 $ 200,738 $ (13,783) (7,754) 222,275 200,738 (21,537) 222,275 200,738 21,537 222,275 200,738 21,537 EXPENDITURES Current: Culture and recreation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance (deficit), June 30, 2015 (8,683) $ (8,683) 195 (8,683) $ (8,683) 8,683 $ $ 8,683 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Medical Examiner Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ Total revenues 7,581 $ 7,581 7,581 7,581 7,581 7,581 7,581 7,581 $ EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ $ 196 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Non-Departmental Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Miscellaneous Total revenues 96,121 9,969,516 $ 4,049,958 9,013,493 $ 3,951,576 7,749 $ (98,382) (9,005,744) 10,065,637 13,063,451 3,959,325 (9,104,126) EXPENDITURES Current: 14,279,671 22,546,247 3,997,898 18,548,349 Total expenditures 14,279,671 22,546,247 3,997,898 18,548,349 Excess (deficiency) of revenues over expenditures (4,214,034) (9,482,796) (38,573) 9,444,223 Net change in fund balances (4,214,034) (9,482,796) (38,573) 9,444,223 General government Fund balance, July 1, 2014 Fund (deficit), June 30, 2015 295,199 $ (3,918,835) 197 295,199 $ (9,187,597) 37,801 $ (772) (257,398) $ 9,186,825 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Officer Safety Equipment Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ 60,000 $ 60,000 $ Interest income Total revenues 136,661 $ 817 137,478 76,661 817 77,478 60,000 60,000 53,000 7,000 53,000 7,000 53,000 7,000 60,000 60,000 60,000 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 149,826 149,826 $ 198 $ 149,826 149,826 $ 137,478 137,478 137,478 137,478 155,139 292,617 $ 5,313 142,791 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Palo Verde Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 756,264 $ 756,264 $ Interest income Total revenues 756,264 $ 756,264 756,264 3,300 759,564 3,300 3,300 756,264 756,264 558,495 197,769 756,264 756,264 558,495 197,769 201,069 201,069 201,069 201,069 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 508,121 $ 508,121 199 508,121 $ 508,121 622,037 $ 823,106 113,916 $ 314,985 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks and Recreation Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 7,909 $ 77,859 $ 13,611 $ (64,248) 7,909 77,859 13,611 (64,248) 7,909 77,859 14,397 63,462 7,909 77,859 14,397 63,462 Excess (deficiency) of revenues over expenditures (786) (786) Net change in fund balances (786) (786) Total revenues EXPENDITURES Current: Culture and recreation Total expenditures Fund balance, July 1, 2014 Fund balance (deficit), June 30, 2015 $ $ 200 $ (786) $ (786) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Donations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 1,865 21,412 Miscellaneous $ 1,865 21,412 $ 3,602 21,613 $ 1,737 201 23,277 23,277 25,215 1,938 78,777 30,000 78,777 30,000 55,008 23,769 30,000 Total expenditures 108,777 108,777 55,008 53,769 Deficiency of revenues under expenditures (85,500) (85,500) (29,793) 55,707 55,707 Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (85,500) (85,500) (29,793) 694,672 694,672 691,173 609,172 201 $ 609,172 $ 661,380 (3,499) $ 52,208 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 2,840,565 Fines and forfeits $ 2,840,565 $ 3,236,372 $ 395,807 20 20 422 402 10,919 1,483,150 10,919 1,483,150 16,882 1,695,206 5,963 212,056 4,334,654 4,334,654 4,948,882 614,228 6,334,860 200,000 6,334,860 200,000 6,001,407 130,275 333,453 69,725 6,534,860 6,534,860 6,131,682 403,178 (2,200,206) (2,200,206) (1,182,800) 1,017,406 15,206 105,206 89,298 (15,908) Total other financing sources 15,206 105,206 89,298 (15,908) Net change in fund balances (2,185,000) (2,095,000) (1,093,502) 1,001,498 Interest income Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2014 Fund balance, June 30, 2015 3,217,768 $ 1,032,768 202 3,217,768 $ 1,122,768 3,415,481 $ 2,321,979 197,713 $ 1,199,211 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Souvenir Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 248 309,752 $ 248 309,752 $ 160 396,022 $ (88) 86,270 310,000 310,000 396,182 86,182 294,794 294,794 308,543 (13,749) 294,794 294,794 308,543 (13,749) 15,206 15,206 87,639 72,433 (15,206) (105,206) (89,298) 15,908 (15,206) (105,206) (89,298) 15,908 (90,000) (1,659) 88,341 EXPENDITURES Current: Culture and recreation Total expenditures Excess of revenues over expenditures OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 Fund balance (deficit), June 30, 2015 $ 25,942 25,942 203 $ 25,942 (64,058) $ 25,896 24,237 $ (46) 88,295 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Spur Cross Ranch Conservation Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 262,718 Interest income 262,718 $ 270,243 $ 7,525 1,200 2,493 1,312 577 112 (1,916) 266,411 266,411 272,132 5,721 Miscellaneous Total revenues $ 1,200 2,493 EXPENDITURES Current: 291,411 291,411 254,976 36,435 Total expenditures 291,411 291,411 254,976 36,435 Excess (deficiency) of revenues over expenditures (25,000) (25,000) 17,156 42,156 Net change in fund balances (25,000) (25,000) 17,156 42,156 Culture and recreation Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 257,897 232,897 204 $ 257,897 232,897 $ 283,882 301,038 $ 25,985 68,141 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Planning and Development Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ 3,887,052 Charges for services $ 3,887,052 $ 4,035,369 $ 148,317 4,098,600 4,098,600 4,260,044 161,444 Fines and forfeits 18,948 18,948 20,450 1,502 Interest income 16,000 9,600 16,000 9,600 18,644 36,948 2,644 27,348 8,030,200 8,030,200 8,371,455 341,255 8,148,986 390,000 8,148,986 390,000 7,716,246 329,121 432,740 60,879 8,538,986 8,538,986 8,045,367 493,619 (508,786) (508,786) 326,088 525,000 525,000 515,875 (9,125) 525,000 525,000 515,875 (9,125) Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess (deficiency) of revenues under expenditures 834,874 OTHER FINANCING SOURCES Transfers In Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 16,214 16,214 841,963 825,749 3,660,099 3,660,099 3,272,669 (387,430) 3,676,313 205 $ 3,676,313 $ 4,114,632 $ 438,319 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Probate Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 408,000 1,200 $ 408,000 1,200 $ 394,818 1,153 $ (13,182) (47) 409,200 409,200 395,971 (13,229) 509,200 509,200 475,000 34,200 509,200 509,200 475,000 34,200 Deficiency of revenues under expenditures (100,000) (100,000) (79,029) 20,971 Net change in fund balances (100,000) (100,000) (79,029) 20,971 163,730 163,730 304,797 141,067 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 63,730 206 $ 63,730 $ 225,768 $ 162,038 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,088,138 $ 1,088,138 $ Interest income 1,074,070 1,012 $ (14,068) 1,012 1,088,138 1,088,138 1,075,082 (13,056) 1,113,694 1,113,694 1,052,846 60,848 1,113,694 1,113,694 1,052,846 60,848 Excess (deficiency) of revenues under expenditures (25,556) (25,556) 22,236 47,792 Net change in fund balances (25,556) (25,556) 22,236 47,792 26,197 26,197 48,603 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 641 207 $ 641 $ 70,839 22,406 $ 70,198 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 236,492 $ 237,289 $ 235,639 $ (1,650) 236,492 237,289 235,639 (1,650) 236,492 237,289 236,608 681 236,492 237,289 236,608 681 (969) (969) (969) (969) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund (deficit), July 1, 2014 Fund (deficit), June 30, 2015 (5,038) $ (5,038) 208 (5,038) $ (5,038) (5,010) $ (5,979) 28 $ (941) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Training Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 418,032 $ 418,032 $ Interest income 394,676 $ (23,356) 6,900 6,900 1,262 15,396 424,932 424,932 411,334 (13,598) 710,158 710,158 526,156 184,002 710,158 710,158 526,156 184,002 Deficiency of revenues under expenditures (285,226) (285,226) (114,822) 170,404 Net change in fund balances (285,226) (285,226) (114,822) 170,404 323,346 323,346 367,590 Miscellaneous Total revenues 1,262 8,496 EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 38,120 209 $ 38,120 $ 252,768 44,244 $ 214,648 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Health Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 48,039,521 Charges for services 49,627,495 $ 45,762,839 $ (3,864,656) 395,742 80,500 412,940 5,500 17,198 (75,000) 48,632,521 50,103,737 46,181,279 (3,922,458) 48,618,021 14,500 50,085,384 18,353 48,119,329 47,136 1,966,055 (28,783) 48,632,521 50,103,737 48,166,465 1,937,272 (1,985,186) (1,985,186) (1,985,186) (1,985,186) 785,953 5,196,112 Miscellaneous Total revenues $ 420,000 173,000 EXPENDITURES Current: Health, welfare, and sanitation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 (4,410,159) (4,410,159) Change in nonspendable resources: Increase in inventories Fund deficit, June 30, 2015 728,290 $ (4,410,159) 210 $ (4,410,159) $ (470,943) 728,290 $ 3,939,216 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Health Fees Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 5,479,246 50,000 $ 6,086,746 50,000 $ 6,161,732 31,206 $ 74,986 (18,794) 5,529,246 6,136,746 6,192,938 56,192 5,559,246 6,551,746 15,000 5,547,685 44,636 1,004,061 (29,636) 5,559,246 6,566,746 5,592,321 974,425 EXPENDITURES Current: Health, welfare and sanitation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures (30,000) (430,000) 600,617 1,030,617 30,000 30,000 31,702 1,702 30,000 30,000 31,702 1,702 632,319 1,032,319 5,561,807 5,561,807 5,828,719 266,912 OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances (400,000) Fund balance, July 1, 2014 Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2015 (15,045) $ 5,561,807 211 $ 5,161,807 $ 6,445,993 (15,045) $ 1,284,186 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Surcharge Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,000,000 $ 4,000,000 $ Interest income 3,472,672 $ (527,328) 16,761 16,761 (15,000) (525,567) 15,000 15,000 4,015,000 4,015,000 3,489,433 4,725,660 1,215,000 4,725,660 1,215,000 3,969,758 148,017 755,902 1,066,983 5,940,660 5,940,660 4,117,775 1,822,885 Deficiency of revenues under expenditures (1,925,660) (1,925,660) (628,342) 1,297,318 Net change in fund balances (1,925,660) (1,925,660) (628,342) 1,297,318 Miscellaneous Total revenues EXPENDITURES Current: General government Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 3,611,775 1,686,115 212 $ 3,611,775 1,686,115 $ 3,505,831 2,877,489 $ (105,944) 1,191,374 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Communication Expense Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for Services $ 432,948 432,948 Total revenues $ 708,828 708,828 $ 692,904 692,904 $ (15,924) (15,924) EXPENDITURES Current: 796,726 1,072,606 265,926 806,680 796,726 1,072,606 265,926 806,680 Excess (deficiency) of revenues over expenditures (363,778) (363,778) 426,978 790,756 Net change in fund balances (363,778) (363,778) 426,978 790,756 429,825 429,825 253,198 (176,627) Education Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 66,047 213 $ 66,047 $ 680,176 $ 614,129 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 25,224,197 $ 25,224,197 $ 19,288,105 $ (5,936,092) 25,224,197 25,224,197 19,288,105 (5,936,092) 25,224,197 25,224,197 19,203,403 6,020,794 25,224,197 25,224,197 19,203,403 6,020,794 84,702 84,702 EXPENDITURES Current: Education Total expenditures Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (132,628) $ (132,628) 214 (132,628) $ (132,628) $ 84,702 84,702 (302,481) (169,853) (217,779) $ (85,151) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Transportation Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 600,000 600,000 $ 600,000 600,000 $ 534,959 534,959 $ (65,041) (65,041) EXPENDITURES Current: Education Total expenditures 600,000 600,000 546,615 53,385 600,000 600,000 546,615 53,385 (11,656) (11,656) (11,656) (11,656) Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 155,585 $ 155,585 215 155,585 $ 155,585 94,065 $ 82,409 (61,520) $ (73,176) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Donations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ $ Interest income $ 5,003 $ 5,003 1,000 19,000 1,000 19,000 658 45,813 (342) 26,813 20,000 20,000 51,474 31,474 20,000 100,000 20,000 100,000 10,743 72,838 9,257 27,162 120,000 120,000 83,581 36,419 Deficiency of revenues under expenditures (100,000) (100,000) (32,107) 67,893 Net change in fund balances (100,000) (100,000) (32,107) 67,893 139,248 139,248 155,410 Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 39,248 216 $ 39,248 $ 123,303 16,162 $ 84,055 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Fines and forfeits 5,775,693 $ 6,667,324 $ $ (1,079,450) 631,188 766,676 135,488 268 245 2,765 2,205 2,520 2,205 8,275,961 7,298,757 6,359,520 (939,237) 7,923,650 352,311 6,405,303 893,454 5,321,512 1,003,991 1,083,791 (110,537) 8,275,961 7,298,757 6,325,503 973,254 34,017 34,017 Interest income Miscellaneous Total revenues 5,587,874 2,500,000 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance (deficit), June 30, 2015 379,787 $ 379,787 217 379,787 $ 379,787 $ 34,017 34,017 (764,637) (1,144,424) (730,620) $ (1,110,407) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Jail Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 1,482,444 $ 1,482,444 $ Interest income Miscellaneous 1,388,044 $ (94,400) 11,922 11,922 44 (82,434) 1,482,444 1,482,444 44 1,400,010 1,024,920 457,524 1,024,920 457,524 754,498 357,196 270,422 100,328 1,482,444 1,482,444 1,111,694 370,750 Excess of revenues over expenditures 288,316 288,316 Net change in fund balances 288,316 288,316 Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 2,482,285 2,482,285 218 $ 2,482,285 2,482,285 $ 2,701,398 2,989,714 $ 219,113 507,429 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff RICO Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ 1,750,000 $ 1,750,000 $ Miscellaneous Total revenues 966,776 $ (783,224) 3,628 970,404 3,628 (779,596) 1,750,000 1,750,000 1,551,048 198,952 1,551,048 198,952 966,413 584,635 198,952 1,750,000 1,750,000 966,413 783,587 3,991 3,991 3,991 3,991 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance, June 30, 2015 (3,991) $ $ 219 $ (3,991) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Towing and Impound Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 256,581 $ 256,581 $ 649 158,100 $ 649 (98,481) 256,581 256,581 158,749 (97,832) 161,714 46,389 161,714 46,389 158,502 3,212 46,389 208,103 208,103 158,502 49,601 48,478 48,478 247 (48,231) (48,231) EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 48,478 48,478 247 130,981 179,459 130,981 179,459 140,145 140,392 220 $ $ $ 9,164 (39,067) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Small School Service Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 109,657 $ 109,657 $ Interest income Total revenues 115,109 638 $ 5,452 638 109,657 109,657 115,747 6,090 EXPENDITURES Current: 181,708 181,708 89,529 92,179 Total expenditures 181,708 181,708 89,529 92,179 Excess (deficiency) of revenues over expenditures (72,051) (72,051) 26,218 98,269 (43,355) (43,355) (43,355) (43,355) (115,406) (17,137) Education OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances (72,051) Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 184,601 112,550 221 $ 184,601 69,195 $ 158,164 141,027 98,269 $ (26,437) 71,832 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Spousal Maintenance Enforcement Enhancement Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 107,400 $ 107,400 $ 113,546 600 108,000 600 108,000 459 114,005 $ 6,146 (141) 6,005 EXPENDITURES Current: 158,000 158,000 150,000 8,000 Total expenditures 158,000 158,000 150,000 8,000 Deficiency of revenues under expenditures (50,000) (50,000) (35,995) 14,005 14,005 Public safety Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (50,000) (50,000) (35,995) 126,744 76,744 126,744 76,744 147,384 111,389 222 $ $ $ 20,640 34,645 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 2,100,000 $ 2,218,728 $ 2,141,359 $ (77,369) 1,600 2,101,600 2,218,728 2,141,359 (77,369) 2,101,600 2,218,728 2,147,892 70,836 2,101,600 2,218,728 2,147,892 70,836 (6,533) (6,533) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2014 Fund balance (deficit), June 30, 2015 251,140 $ 251,140 223 251,140 $ 251,140 $ (6,533) (6,533) (48,776) (299,916) (55,309) $ (306,449) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for services Interest income Total revenues 1,917,598 $ 1,974,520 $ 1,403,264 $ (571,256) 1,071,218 1,000 1,456,987 1,000 1,524,660 67,673 (1,000) 2,989,816 3,432,507 2,927,924 (504,583) 2,989,816 3,432,507 2,941,381 491,126 2,989,816 3,432,507 2,941,381 491,126 (13,457) (13,457) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (132,774) $ (132,774) 224 (132,774) $ (132,774) $ (13,457) (13,457) (30,961) 101,813 (44,418) $ 88,356 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Special Revenue Fund – Special Revenue Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,750,000 Interest income $ 4,750,000 $ 4,894,827 $ 144,827 4,800 5,000 4,800 5,000 1,964 32,607 (2,836) 27,607 4,759,800 4,759,800 4,929,398 169,598 5,199,800 5,199,800 5,199,800 5,199,800 4,403,666 4,403,666 796,134 796,134 Excess (deficiency) of revenues over expenditures (440,000) (440,000) 525,732 965,732 Net change in fund balances (440,000) (440,000) 525,732 965,732 445,977 445,977 921,487 Miscellaneous Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 5,977 225 $ 5,977 $ 1,447,219 475,510 $ 1,441,242 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Taxpayer Information Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Miscellaneous Total revenues $ $ 225,558 $ 225,558 304,341 304,341 304,341 304,341 225,558 (304,341) (78,783) 304,341 304,341 179,107 125,234 304,341 304,341 179,107 125,234 46,451 46,451 EXPENDITURES Current: General government Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 501,416 $ 501,416 226 501,416 $ 501,416 $ 46,451 46,451 335,977 (165,439) 382,428 $ (118,988) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Grants Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 684,820 684,820 Total revenues $ 732,807 732,807 $ 176,509 176,509 $ (556,298) (556,298) EXPENDITURES Current: Highways and streets Capital outlay Total expenditures 624,820 60,000 672,807 60,000 177,007 495,800 60,000 684,820 732,807 177,007 555,800 (498) (498) Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2014 Fund deficit, June 30, 2015 (112,061) $ (112,061) 227 (112,061) $ (112,061) $ (498) (498) (9,961) 102,100 (10,459) $ 101,602 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Operations Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Licenses and permits $ Intergovernmental 950,000 $ 104,305,928 Charges for services 950,000 $ 104,305,928 1,033,985 $ 107,976,645 83,985 3,670,717 15,750 15,750 7,638 (8,112) 500,000 408,712 500,000 408,712 366,780 1,286,177 (133,220) 877,465 106,180,390 106,180,390 110,671,225 4,490,835 57,739,021 3,998,413 57,738,686 3,891,242 53,829,757 2,849,630 3,908,929 1,041,612 Total expenditures 61,737,434 61,629,928 56,679,387 4,950,541 Excess of revenues over expenditures 44,442,956 44,550,462 53,991,838 9,441,376 (48,134,797) (48,242,303) (48,242,303) (48,134,797) (48,242,303) (48,242,303) (3,691,841) (3,691,841) 5,749,535 9,441,376 26,717,559 26,717,559 32,766,494 6,048,935 100,946 100,946 Interest income Miscellaneous Total revenues EXPENDITURES Current: Highways and streets Capital outlay OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2015 $ 23,025,718 228 $ 23,025,718 $ 38,616,975 $ 15,591,257 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Compensation Interest Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 8,000 Miscellaneous $ 8,000 $ 9,693 $ 1,693 6,708 14,708 6,708 14,708 11,016 20,709 4,308 6,001 179,160 179,160 11,429 167,731 179,160 179,160 11,429 167,731 Excess (deficiency) of revenues over expenditures (164,452) (164,452) 9,280 173,732 Net change in fund balances (164,452) (164,452) 9,280 173,732 795,919 795,919 792,722 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 631,467 229 $ 631,467 $ 802,002 (3,197) $ 170,535 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Compensation Restitution Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ Interest income Total revenues 192,000 $ 192,000 $ 120,201 $ (71,799) 8,000 200,000 8,000 200,000 7,242 127,443 (758) (72,557) 701,308 701,308 701,308 701,308 33,714 33,714 667,594 667,594 (501,308) (501,308) EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (501,308) (501,308) 1,547,504 1,547,504 1,046,196 230 $ 1,046,196 93,729 595,037 93,729 595,037 1,369,101 $ 1,462,830 (178,403) $ 416,634 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Location Fund – Special Revenue Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 2,300 2,300 Total revenues $ 2,300 2,300 $ 2,296 2,296 $ (4) (4) EXPENDITURES Current: 75,000 75,000 5,594 69,406 75,000 75,000 5,594 69,406 Deficiency of revenues under expenditures (72,700) (72,700) (3,298) 69,402 Net change in fund balances (72,700) (72,700) (3,298) 69,402 75,452 75,452 93,755 Public safety Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 2,752 231 $ 2,752 $ 90,457 18,303 $ 87,705 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Management Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ Miscellaneous $ 1,958 $ 1,958 65,000 65,000 65,000 65,000 71,956 73,914 6,956 8,914 468,832 618,952 38,684 580,268 468,832 618,952 38,684 580,268 Excess (deficiency) of revenues over expenditures (403,832) (553,952) 35,230 589,182 Net change in fund balances (403,832) (553,952) 35,230 589,182 412,819 412,819 553,956 Total revenues EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2014 Fund balance (deficit), June 30, 2015 $ 8,987 232 $ (141,133) $ 589,186 141,137 $ 730,319 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Tire Fund – Special Revenue Fund Year Ended June 30, 2015 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for services Interest income Total revenues 4,572,444 $ 4,572,444 $ 4,731,031 $ 158,587 175,927 7,970 175,927 7,970 233,310 7,923 57,383 (47) 4,756,341 4,756,341 4,972,264 215,923 4,751,611 4,751,611 4,748,796 2,815 4,751,611 4,751,611 4,748,796 2,815 4,730 4,730 223,468 218,738 218,738 EXPENDITURES Current: Health, welfare and sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 4,730 4,730 223,468 1,787,145 1,787,145 1,916,879 1,791,875 233 $ 1,791,875 $ 2,140,347 129,734 $ 348,472 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Improvement Debt Fund – Debt Service Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 2,049,100 $ 2,049,100 $ 716,706 $ (1,332,394) 8,200 2,057,300 8,200 2,057,300 43,747 760,453 35,547 (1,296,847) 11,878,000 4,875,180 14,049,297 4,875,180 14,611,659 4,283,180 (562,362) 592,000 16,753,180 18,924,477 18,894,839 29,638 (14,695,880) (16,867,177) (18,134,386) (1,267,209) 6,415,560 15,100,748 15,100,747 (1) Total other financing sources 6,415,560 15,100,748 15,100,747 (1) Net change in fund balances (8,280,320) (1,766,429) (3,033,639) (1,267,210) Total revenues EXPENDITURES Current: Principal Interest Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2014 Fund balance, June 30, 2015 18,087,690 $ 9,807,370 234 18,087,690 $ 16,321,261 19,482,372 $ 16,448,733 1,394,682 $ 127,472 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Stadium District Debt Service Fund – Debt Service Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ Interest income Total revenues 4,875,667 324 $ 4,875,667 324 $ 3,564,212 445 $ (1,311,455) 121 4,875,991 4,875,991 3,564,657 3,700,378 3,700,378 3,250,000 450,378 439,128 1,818 (439,128) (1,818) (1,311,334) EXPENDITURES Debt service: Principal Interest Other expenses Total expenditures 3,700,378 3,700,378 3,690,946 9,432 Excess (deficiency) of revenues over expenditures 1,175,613 1,175,613 (126,289) (1,301,902) (1,175,613) (1,230,178) 1,230,178 (1,175,613) (1,230,178) 1,230,178 OTHER FINANCING SOURCES (USES) Transfers out Total other financing sources (uses) Net change in fund balances (54,565) Fund balance, July 1, 2014 Fund balance, June 30, 2015 4,352,706 $ 4,352,706 235 (126,289) 4,352,706 $ 4,298,141 (71,724) 4,401,308 $ 4,275,019 48,602 $ (23,122) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Improvement Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 10,091 $ 10,091 Total revenues 10,091 10,091 EXPENDITURES Other expenses Capital outlay Total expenditures Deficiency of revenues under expenditures 925,000 1,211,222 (286,222) 158,240,753 159,165,753 79,536,214 80,747,436 78,704,539 78,418,317 (159,165,753) (80,737,345) 78,428,408 185,580,000 15,633,417 185,580,000 15,633,417 201,213,417 201,213,417 120,476,072 279,641,825 OTHER FINANCING SOURCES (USES) Proceeds from COPS issuance Premium on COPS issuance Total other financing uses Net change in fund balances (159,165,753) Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ $ (159,165,753) 236 $ 120,476,072 $ 279,641,825 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Detention Capital Projects Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Capital outlay $ Total expenditures Deficiency of revenues under expenditures 5,796,583 5,796,583 $ 5,813,742 5,813,742 $ 2,648,276 2,648,276 (5,796,583) (5,813,742) (2,648,276) $ 3,165,466 3,165,466 3,165,466 OTHER FINANCING SOURCES 5,973,777 5,973,777 5,973,777 Total other financing sources 5,973,777 5,973,777 5,973,777 Net change in fund balances 177,194 190,224,782 190,401,976 160,035 190,224,782 190,384,817 3,325,501 190,241,941 193,567,442 Transfers in Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 237 $ $ $ 3,165,466 17,159 3,182,625 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Detention Technology Capital Improvement Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ $ 832,073 $ 832,073 521,896 521,896 832,073 (521,896) 310,177 40,330,136 40,330,136 28,755,352 28,755,352 3,808,996 3,808,996 24,946,356 24,946,356 (40,330,136) (28,233,456) (2,976,923) 25,256,533 (2,813,388) 1,013,591 (2,813,388) 1,013,591 (2,813,388) (2,813,388) (2,813,388) (1,799,797) 1,013,591 (43,143,524) 45,444,750 2,301,226 (31,046,844) 45,444,750 14,397,906 (4,776,720) 43,471,431 38,694,711 26,270,124 (1,973,319) 24,296,805 Total revenues EXPENDITURES Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES (USES) Capital lease agreements Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 238 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Capital Projects Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 5,700,000 5,700,000 $ 5,700,000 5,700,000 $ 7,131,015 7,131,015 $ 1,431,015 1,431,015 EXPENDITURES Capital outlay Total expenditures Deficiency of revenues under expenditures 40,000,000 40,000,000 31,405,686 8,594,314 40,000,000 40,000,000 31,405,686 8,594,314 (34,300,000) (34,300,000) (24,274,671) 10,025,329 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 30,000,000 (4,300,000) (4,300,000) 5,725,329 10,025,329 22,004,846 17,704,846 22,004,846 17,704,846 7,507,905 13,233,234 (14,496,941) (4,471,612) OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 239 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual General Fund County Improvements Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Capital outlay $ Total expenditures Deficiency of revenues under expenditures 38,945,102 $ 13,273,688 $ 6,260,339 $ 7,013,349 38,945,102 13,273,688 6,260,339 7,013,349 (38,945,102) (13,273,688) (6,260,339) 7,013,349 44,051,824 (32,605,249) 59,007,506 (32,605,249) 59,007,506 (32,605,249) 11,446,575 26,402,257 26,402,257 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ (27,498,527) 13,128,569 20,141,918 298,130,417 298,130,417 299,933,185 270,631,890 240 $ 311,258,986 $ 320,075,103 7,013,349 1,802,768 $ 8,816,117 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Intergovernmental Capital Projects Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 200 200 Total revenues $ 200 200 $ 559 559 $ 359 359 EXPENDITURES 127,500 127,500 127,500 127,500 127,500 127,500 Excess (deficiency) of revenues over expenditures (127,300) (127,300) Net change in fund balances (127,300) 127,960 Capital outlay Total expenditures Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 660 241 $ 559 127,859 (127,300) 559 127,859 127,960 128,250 660 $ 128,809 290 $ 128,149 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Intergovernmental Technology Projects Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Miscellaneous $ $ Total revenues 240,717 240,717 $ $ (240,717) (240,717) EXPENDITURES Capital outlay Total expenditures 240,717 1,664,423 (1,423,706) 240,717 1,664,423 (1,423,706) (1,664,423) (1,664,423) 1,664,423 1,664,423 1,664,423 1,664,423 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES Capital lease agreements Total other financing sources Net change in fund balances Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ $ 242 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Capital Improvement Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 6,000 $ 6,000 $ 46,056 $ 40,056 Total revenues 6,000 6,000 46,056 40,056 Excess of revenues over expenditures 6,000 6,000 46,056 40,056 Net change in fund balances 6,000 6,000 46,056 40,056 Fund balance, July 1, 2014 Fund balance, June 30, 2015 8,901,299 $ 8,907,299 243 8,901,299 $ 8,907,299 8,903,907 $ 8,949,963 2,608 $ 42,664 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Long Term Project Reserve Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ 100 Interest Income $ 100 $ 39 $ (61) 100 100 137 37 750,000 750,200 750,000 750,200 775,374 775,550 25,374 25,350 2,003,000 2,403,000 1,953,683 449,317 2,003,000 2,403,000 1,953,683 449,317 (1,252,800) (1,652,800) (1,178,133) 474,667 1,385,778 1,385,778 1,619,986 234,208 Total other financing sources 1,385,778 1,385,778 1,619,986 234,208 Net change in fund balances 132,978 7,112,947 (267,022) 7,112,947 441,853 7,120,142 708,875 7,195 Miscellaneous Total revenues EXPENDITURES Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2014 Fund balance, June 30, 2015 $ 7,245,925 244 $ 6,845,925 $ 7,561,995 $ 716,070 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Technology Capital Improvement Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Miscellaneous $ $ Total revenues 7,138,621 7,138,621 $ $ (7,138,621) (7,138,621) EXPENDITURES Capital outlay 145,754,406 145,754,406 36,333,147 36,333,147 14,782,206 14,782,206 21,550,941 21,550,941 (145,754,406) (29,194,526) (14,782,206) 14,412,320 5,651,077 5,651,077 26,889,103 (2,724,200) 26,889,103 (2,724,200) 26,889,103 (2,724,200) Total other financing sources 24,164,903 24,164,903 29,815,980 5,651,077 Net change in fund balances (121,589,503) (5,029,623) 15,033,774 20,063,397 Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES (USES) Capital lease agreements Transfers in Transfers out Fund balance, July 1, 2014 Fund balance, June 30, 2015 242,441,513 $ 120,852,010 245 242,441,513 $ 237,411,890 236,759,844 $ 251,793,618 (5,681,669) $ 14,381,728 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Capital Project Fund – Capital Projects Fund Year Ended June 30, 2015 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Charges for services 11,107,640 $ 11,107,640 $ 14,247,272 $ 3,139,632 2,467,139 2,467,139 1,397,468 (1,069,671) 13,574,779 13,574,779 59,000 15,703,740 59,000 2,128,961 82,578,500 82,578,500 47,294,824 35,283,676 82,578,500 82,578,500 47,294,824 35,283,676 (69,003,721) (69,003,721) (31,591,084) 37,412,637 48,134,797 48,134,797 48,134,797 Total other financing sources 48,134,797 48,134,797 48,134,797 Net change in fund balances (20,868,924) (20,868,924) 16,543,713 Miscellaneous Total revenues EXPENDITURES Capital outlay Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2014 Fund balance, June 30, 2015 30,815,246 $ 9,946,322 246 30,815,246 $ 9,946,322 37,412,637 44,973,946 $ 61,517,659 14,158,700 $ 51,571,337 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2015 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget GENERAL GOVERNMENT Intergovernmental Capital Projects Vulture Mountain Total Intergovernmental Capital Projects County Improvement Airplane Purchase Computer Aided Mass Appraisal County Telephone System Cyber Security NRNP Enterprise Data Cntr Systems Enterprise Data Ctnr Ct Enterprise Res Planning System Helicopter Purchase Infrastructure Refresh Ph I Infrastructure Refresh Ph II Jail Mgmt Information System Juvenile Kitchen Equip Non-recurring Non-project Radio System S/W Consolidated Justice Courts Sheriff Nice Vision Total County Improvements General Fund County Improvements Chambers Building Court Tower East Court Improvements Maricopa Regional Trail System S/W Consolidated Justice Crts Security Building Sheriff HQ Project Swat Covered Parking Vulture Mountain Total General Fund County Improvements Technology Capital Improvements BIX Room Byte Info Exchange Computer Aided Mass Appraisal County Telephone System Desktop Laptop Replacement Enterprise Data Ctnr Ct Enterprise Res Planning System Infrastructure Refresh Ph I Infrastructure Refresh Ph II Internal Service Delivery Sys Maximo Maint Mgmt. System Project Reserve Radio System Sheriff HQ Project IT Infra Treasurer Tech System Upgrade Total Technology Capital Improvements $ $ $ $ 127,500 127,500 $ $ $ $ $ $ $ 850,000 4,538,162 9,417,397 2,448,025 5,508,106 18,189,411 10,653,317 5,000,000 7,459,931 22,066,469 1,410,519 1,149,551 925,000 37,698,126 23,413,814 8,437,925 159,165,753 1,373,091 1,247,290 7,290,766 452,415 $ $ $ $ $ 127,500 127,500 1,373,091 1,247,290 8,513,546 582,886 23,413,814 2,065,187 1,000,000 706,537 42,751 38,945,102 $ 4,299,455 4,795,000 6,473,633 $ 18,738,694 16,060,899 5,000,000 37,604,275 350,000 750,000 9,227,552 40,382,450 1,500,000 572,448 145,754,406 247 $ $ 1,505,854 1,000,000 361,521 42,751 13,273,688 4,409,126 242,697 622,761 7,138,621 549,283 3,509,425 360,523 3,157,669 350,000 413,504 8,440,177 4,334,733 1,500,000 1,304,628 36,333,147 $ $ $ 127,500 127,500 765,979 3,395,939 6,031,775 1,962,610 3,401,990 11,694,965 7,374,114 4,843,400 6,151,880 17,350,226 730,253 741,620 1,211,222 9,632,227 1,349,458 4,109,778 80,747,436 $ 84,021 1,142,223 3,385,622 485,415 2,106,116 6,494,446 3,279,203 156,600 1,308,051 4,716,243 680,266 407,931 (286,222) 28,065,899 22,064,356 4,328,147 78,418,317 36,591 767,458 4,621,066 253,503 $ $ 86,548 494,135 1,038 $ 6,260,339 $ $ 340,412 227,993 378,171 5,651,077 394,695 1,234,518 294,989 2,129,199 340,728 115,279 $ $ 2,703,508 423,731 547,906 14,782,206 $ 1,336,500 479,832 2,669,700 198,912 1,419,306 505,865 360,483 42,751 7,013,349 4,068,714 14,704 244,590 1,487,544 154,588 2,274,907 65,534 1,028,470 9,272 298,225 8,440,177 1,631,225 1,076,269 756,722 21,550,941 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2015 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget CRIMINAL JUSTICE Detention Capital Projects 4th Avenue Jail Lower Buckeye Jail Total Detention Capital Projects Detention Technology Capital Improvement CHS Electronic Medical Record Desktop Laptop Replacement Jail Mgt Information System Project Reserve Sheriff Nice Vision Total Detention Technology Capital Improvement $ $ $ 2,565,291 3,231,292 5,796,583 2,536,791 3,276,951 5,813,742 $ $ 2,450,331 $ $ $ 1,560,303 521,896 19,118 25,000,000 1,654,035 28,755,352 $ 1,795,563 25,000,000 11,084,242 40,330,136 $ 630,000 $ 630,000 $ $ $ $ 1,218,074 1,430,202 2,648,276 $ 1,153,672 1,013,591 $ 1,641,733 3,808,996 $ $ 1,318,717 1,846,749 3,165,466 406,631 (491,695) 19,118 25,000,000 12,302 24,946,356 PUBLIC SAFETY Flood Control 115th Union Hills Dr 1745E Jackson Strm Drn 27th Ave And South Mtn 27th St&Southern Ave 43rd Ave And Baseline 7121 E 5th St Di 90th St &Butternut Drn Agua Fria River Alert2 Syst Upgrade Arcadia Dr Strm Dran Ashbrook Wash Channelization Bethany 79th To 59th Buckeye 1 Rehab Buckeye Watson System Bullard Wash Ph II Cave Buttes Dam Mod Central Av & Foothill Dr Central Chandler Drng Chandler Heights Basin Downtown Buckeye Downtown Phoenix Ph I DRCC Avondale DRCC Elwood 75 To 107 Ellsworth McKellips Emf Maint Rd Imp Flood Control CIP Granite Reef Wash Laveen Area Conv Chan Loop 303 Drainage Lower El Mirage Wash Luke Afb Flood Mitig Martin Acres Drng Impr McMicken Dam Out Impr McMicken Dam Project New River Dam Outlet Northern Pkwy Ph I 10,000 10,000 5,000 212,000 5,000 212,000 2,000 40,000 2,000 810,000 2,000 10,445,000 770,000 5,000 850,000 2,000 40,000 2,000 810,000 2,000 10,445,000 770,000 5,000 850,000 2,000 2,000 2,000 235,000 2,000 10,000 2,000 5,000 2,000 5,000 10,000 9,465,000 2,000 2,000 2,000 235,000 2,000 10,000 2,000 5,000 2,000 5,000 10,000 9,465,000 2,000 2,000 1,085,000 5,000 5,000 1,085,000 5,000 5,000 248 601,074 250,149 105,219 250,308 23,884 228,746 143,147 1,109,024 156,253 6,857,579 9,389 5,154 558,918 250,453 7,967 399 1,531,520 4,784 283 101 11,609 7,895 651 5,949,308 (89) 585 30 196,888 816,068 48 68,213 $ 28,926 (250,149) (95,219) (250,308) (18,884) (16,746) (143,147) 2,000 (1,069,024) 2,000 653,747 2,000 3,587,421 760,611 (154) 291,082 (250,453) 2,000 (5,967) 1,601 (1,296,520) (2,784) 9,717 1,899 (6,609) 2,000 (2,895) 9,349 3,515,692 89 1,415 (30) (196,888) 268,932 4,952 (63,213) Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2015 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget PUBLIC SAFETY (CONT.) Oak St Basin And St Dr Osborn & 12Pl Strm Drn Powerline Frs Idsm Project Reserves Flood Pvr Rehabilitation Rittenhouse Basin Saddleback Frs Mod Skunk Creek At I17 Small Project Assistance Prgm Sonoqui Wash Ph II Sonoqui Wash Ph III Tres Rios Upper Camelback Wash Vnbrn Chnl 99th To Afr White Tanks 3 Outlet White Tanks 4 Outlet White Tanks 4 Rehab Total Flood Control $ 2,000 $ 12,000 2,000,000 750,000 2,000 5,000 5,000 1,402,000 2,000 6,440,000 5,000 1,850,000 1,085,000 30,000 13,000 1,775,000 40,000,000 $ 2,000 $ 12,000 2,000,000 750,000 2,000 5,000 5,000 1,402,000 2,000 6,440,000 5,000 1,850,000 1,085,000 30,000 13,000 1,775,000 40,000,000 $ 804 250,000 9,129 $ 3,309,412 241 57,785 $ 6,228 4,546,312 1,012 2,297,476 179 1,161 1,570 1,778,820 31,405,686 $ 1,196 (250,000) 2,871 2,000,000 (2,559,412) 2,000 4,759 (52,785) 1,402,000 (4,228) 1,893,688 3,988 (447,476) 1,084,821 28,839 11,430 (3,820) 8,594,314 HIGHWAYS AND STREETS Transportation 17th Ave Maddock To Joy Ranch 339th Ave At I-10 35th Ave Baseline To Southern 35th Ave Carver To Elliot 51th Ave Bus Pollouts 75th Ave Bridge At Salt River 87th Ave Deer Vly To Peoria Lmt 87th Ave Peoria Lmt To Williams 88th Ave Deer Vly To Williams 91st Ave Baseline To Broadway 99th Ave At Cameo Dr Aguila Rd At Wapa Towers Alma School At Michigan Alma School Rd Multi-Use Path Anthem Box Clvrt Scour Protect Avondale At MC 85 Baseline Rd 57th To 55th Ave Bethany Home at El Mirage Rd Bridge Preservation Broadway 51st Ave to 7th St Broadway at Watson Sgnl Instal Bush Hwy Asphalt Rubber Ovrly Camelback At Beardsley Canal Candidate Assessment Reports Carefree Hwy Area Coralbell Ave 93rd to 95th St County Arterials Deer Valley El Mirage To Lk P Del Webb At Hutton $ $ $ 139,000 139,000 295,000 60,000 295,000 60,000 630,000 630,000 1,580,000 800,000 1,580,000 800,000 1,600,000 1,600,000 1,000,000 6,575,000 413,000 1,000,000 6,575,000 413,000 249 2,726 273 122 15,351 269 61 807,292 955,540 902,956 2,546 112,344 105,344 7,822 40,554 71,618 127,158 209 221,168 632,475 3,054 282,016 14,356 252,391 21,068 185,417 395,811 202,666 $ (2,726) (273) (122) (15,351) (269) (61) (807,292) (955,540) (902,956) (2,546) (112,344) (105,344) 131,178 (40,554) 223,382 (67,158) (209) (221,168) 630,000 (632,475) 1,576,946 517,984 (14,356) 1,347,609 (21,068) (185,417) 1,000,000 6,179,189 210,334 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2015 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (CONT.) Dust Mitigation Dynamite 44th St To 45th St Dynamite At 52nd Street Eagle Eye Rd At Tiger Wash East Mesa Sub Rehab E-Intellidrive Study Ph III El Mirage At Loop 303 El Mirage Northern Bell El Mirage Picerne To Bell El Mirage: Northern To Cactus El Mirage: Northern To Peoria Elliot Rd And Sossaman Rd Empire And Meridian Fiber Install Ind Sch Mcd Dmtn Ft Mcdowell Drainage Scoping FY 12 Cat I Lvr FY 12 Cat II Lvr FY 12 Cat III Lvr FY 14 Lvr Dove Valley Area FY13 Ar Overlay FY16 Local Road Rehab FY16 NW Area Art Ar Overlay Gavilan Pk and Venture Dr Hawk General Civil Engineering Germann At Sossaman Dcr Germann Rd Ac Overlay Gilbert Road Bridge Granite Val At Dachtler/Mentor Gric Lvr Aq Paving Happy Valley at 115th Ave Improvements To Buckeye Yard Indian School At Beardsley Cnl Intelligent Trans Syst Its Intelligent Trans Syst Its Intelligent Trans Syst Its Laveen Area London Rd Peretz To Us 60 Loop 303 Northern Ar Overlay Lower Buckeye 71st To 67th Ave Lower Buckeye At 107th Ave Mag Alcp Projects MC 85 107th Ave To 91st Ave MC 85 At Jackrabbit Rd MC 85 Baseline To Cotton Lane MC 85 At 83Rd Ctr Turn Ln Exp MC 85 Litchfield 83Rd Ave Its McDowell At Jackrabbit Trail McDowell Rd 76Th To Usery Pass McKellips Rd Bridge At Salt R McKellips Rd I10 To Alma Schl McLellan 103Rd St To Sb $ 3,830,000 $ 3,830,000 6,150,000 60,000 6,150,000 60,000 20,000 625,000 940,000 865,000 20,000 625,000 940,000 865,000 2,810,000 320,000 2,810,000 320,000 220,000 1,336,000 37,500 220,000 1,336,000 37,500 45,000 510,000 45,000 510,000 520,000 215,000 520,000 215,000 4,085,000 4,085,000 1,067,000 1,067,000 2,555,000 1,880,000 2,555,000 1,880,000 777,000 777,000 720,000 720,000 250 $ $ 59,001 894 50 5,272,286 69,269 83,201 426 1,075,729 2,425 274,067 8,427 1,070,619 111,415 161 1,917 2,248,968 641,824 99,235 54,053 28,481 84 155,303 3,681 37,163 2,762 590 (54) 6,337 107,693 259,533 111 195,920 689,838 52,697 86,250 2,542,747 44,469 128,349 8,554 46,564 152,199 1,182,130 1,092,186 23,575 63,769 122 351,619 70,279 3,830,000 (59,001) (894) (50) 877,714 (9,269) (83,201) (426) (1,075,729) 17,575 350,933 931,573 (205,619) (111,415) (161) (1,917) (2,248,968) 2,168,176 220,765 (54,053) (28,481) (84) 64,697 1,332,319 337 (2,762) (590) 54 (6,337) (62,693) 250,467 (111) 520,000 19,080 (689,838) (52,697) (86,250) 1,542,253 (44,469) (128,349) 1,067,000 (8,554) (46,564) (152,199) 1,372,870 787,814 (23,575) 713,231 (122) 368,381 (70,279) Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2015 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (CONT.) McQueen Rd Ocotillo to Riggs Meridian Rd Meridian Rd Ar Overlay Miller Rd Bridge At Bid Canal Miller Rd I10 To 1 Mi N I10 Mountain Rd/Erie St Drainage Narramore At Waterman Wash Ne Area Arterials Ar Overlay New River Area Phase 1 New River Area Phase 2 New River Trail At Linda Ln Northern Ave Sr 303 To Grand Northern Parkway Phase II Northern Ph 2 Row Protection Northern Pkwy Northern At L101 Northern Reems Ltchfld Ovrps Olive Ave Citrus To Cotton Ln Olive Ave El Mir To Wt Tanks Palm Lane Drainage Partnership Support Patton Rd West Of 257th Ave Pavement Preservation Pavement Preservation Projects Power Rd Pecos To Santan Fwy Prop Mgmt Prior Years Projects Riggs Ellsworth To Meridian Riggs Rd At Sonoqui Wash Riggs Rd Hawes To Ellsworth Riggs Rd Its Riggs Rd Power To Hawes Riggs Rd Recker To Power Right-Of-Way Rittenhouse Bridge At Qc Wash Rockaway Hills 255-251St Ave Row In Fill Road Inventory Sys Safety Projects SE Area Arterials Ar Overlay Signal Butte Apache To Univsty Small Cities Assist Prog Southern At Meridian Special Projects Sun City West Mill And Overlay Tip Development Tonto Hills Paving Traffic Calming Traffic Improvements Traffic Signal 22 Traffic Signal Upgrade - 5 Loc Transportation Administration Transportation Planning Transportation System Plan Tuthill Road Bridge $ $ $ 655,000 655,000 25,000 25,000 390,000 390,000 90,000 3,256,000 3,007,000 90,000 3,256,000 3,007,000 11,125,000 11,125,000 60,000 60,000 1,230,000 1,230,000 3,530,000 3,530,000 15,961 183 897,621 4,030 94,658 47,837 64,021 482,232 234,208 164,574 173,021 2,539,420 4,037,738 9,167 9,850,175 119 26,497 6,197 203 88,494 50,000 720,000 50,000 720,000 1,555,000 900,000 1,630,000 1,555,000 900,000 1,630,000 100,000 510,000 1,000,000 100,000 510,000 1,000,000 1,510,000 1,510,000 450,000 450,000 200,000 2,025,000 200,000 2,025,000 166 26,875 51,452 408,613 13 (6,426) 107,746 437,421 228,055 21,000 21,263 63,991 51,489 642,012 10,175 380 135 6,028 22,432 173,824 26,356 89,718 1,111 2,134 3,500,000 130,000 3,500,000 130,000 442,988 224,317 251 $ (15,961) (183) (242,621) (4,030) (69,658) (47,837) (64,021) (92,232) (234,208) (164,574) (83,021) 716,580 (1,030,738) (9,167) 1,274,825 (119) (26,497) 53,803 (203) 1,230,000 (88,494) 3,530,000 (166) (26,875) (1,452) 311,387 (13) 6,426 (107,746) 1,117,579 671,945 1,609,000 (21,263) (63,991) 48,511 510,000 357,988 (10,175) (380) (135) 1,503,972 (22,432) 276,176 (26,356) 110,282 2,025,000 (1,111) (2,134) 3,500,000 130,000 (442,988) (224,317) Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2015 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (CONT.) Unallocated Force Account Union Hills at 99th Ave University at 96th St University At Sb Crismon University Dr at Meridian Rd US 80 Cactus Rose To Arltn Sch Vulture Mountain Recarea Roads Warranted Traffic Improvements West Broadway Dust Control West Valley Dynamic Msg Signs Williams Field Uppr To Power Williams Fld Gilbert Lindsay Yuma At Jackrabbit Trail Yuma Rd 219th Ave to Tuthill Total Transportation $ 581,000 $ 400,000 400,000 1,240,000 1,240,000 30,000 $ 581,000 82,578,500 252 $ 30,000 $ 82,578,500 $ 187,667 172,335 605 237,728 678,813 71,672 $ 500 126,337 126,682 21,968 111,245 123 47,294,824 $ 581,000 (187,667) (172,335) (605) 162,272 (678,813) (71,672) 1,240,000 (500) (126,337) (126,682) 8,032 (111,245) (123) 35,283,676 Financial Section Combining and Individual Fund Statements Internal Service Funds Internal Service Funds Maricopa County Listing of Internal Service Funds Internal Service Funds are used to account for services and commodities provided by one department or agency to other departments or agencies of the County. These services are provided on a cost-reimbursement basis. The following is a listing of the Internal Service Funds reported within Maricopa County. Equipment Services - This fund provides assistance to other Maricopa County departments to ensure quality service to the citizens of Maricopa County by furnishing and maintaining the necessary County mobile equipment in an efficient manner. Technology Infrastructure - This fund provides cost effective voice, data, and radio communications to County employees. Reprographics - This fund provides the County’s printing and duplicating services. Risk Management - This fund supports the comprehensive insurance/self-insurance program, which safeguards County assets and employees by means of a Trust Fund. Personnel skilled in loss control, claims and litigation and workers’ compensation work together to avert risk and conserve the human and financial resources of Maricopa County. Employee Benefits Trust - This fund collects employee and employer contributions for payment of the employees’ medical, dental, pharmacy, and short-term disability benefits. Sheriff Warehouse - Sheriff Warehouse tracks inventory activity for supplies purchased by the warehouse for resale and stores consignment inventory for other departments. 255 Maricopa County Combining Statement of Net Position All Internal Service Funds June 30, 2015 Equipment Services Technology Infrastructure Reprographics ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer 900 $ 3,824,816 200 $ 3,710,216 266,232 Receivables: Accounts Accrued interest 3,443 5,246 607,098 78,806 4,436,257 3,794,468 266,232 Accumulated depreciation 2,498,596 (2,029,741) 11,986,420 (9,178,796) 768,517 (707,273) Total noncurrent assets 468,855 2,807,624 61,244 4,905,112 6,602,092 327,476 590,676 805,244 75,696 590,676 805,244 75,696 Accounts payable 446,630 360,263 20,131 Employee compensation payable 297,969 408,302 85,420 744,599 768,565 105,551 4,154,445 5,663,575 532,403 4,154,445 5,663,575 532,403 4,899,044 6,432,140 637,954 726,484 990,384 93,101 726,484 990,384 93,101 468,855 (598,595) (129,740) 2,807,624 (2,822,812) (15,188) 61,244 (389,127) (327,883) Inventories Prepaids Total current assets Noncurrent assets: Capital assets: Machinery and equipment Total assets DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions Total deferred outflows of resources LIABILITIES Current liabilities: Accrued liabilities Due to other funds Liability for reported and incurred but not reported claims (current portion) Total current liabilities Noncurrent liabilities: Liability for reported and incurred but not reported claims Net pension liability Total noncurrent liabilities Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions Total deferred inflows of resources NET POSITION Net investment in capital assets Unrestricted (deficit) Total net position (deficit) $ 256 $ $ Employee Risk Management $ 100 Benefits Trust $ 32,562,371 49,522 3,467,924 Sheriff Warehouse $ Total $ 3,469,124 30,004,576 70,368,211 598,705 598,705 48,819 1,804,691 1,694,818 34,416,684 35,814,842 107,030 905,784 1,591,688 3,499,509 905,784 79,634,267 128,166 (84,330) 31,040 (3,208) 15,412,739 (12,003,348) 43,836 27,832 3,409,391 34,460,520 35,842,674 405,264 245,692 2,122,572 405,264 245,692 2,122,572 1,399,302 2,482,709 313,913 178,173 905,784 282 83,043,658 4,709,317 1,283,777 1,859,043 1,859,043 398,244 398,244 19,316,231 13,688,100 21,029,446 18,208,025 50,302,410 2,850,369 1,728,045 50,302,410 14,928,837 53,152,779 1,728,045 65,231,247 74,182,225 19,936,070 498,441 302,182 2,610,592 498,441 302,182 2,610,592 43,836 (39,858,718) $ (39,814,882) $ 27,832 15,822,282 15,850,114 33,004,331 398,526 398,526 $ 507,258 507,258 41,254,712 106,485,959 3,409,391 (27,339,712) $ (23,930,321) 257 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds Year Ended June 30, 2015 Equipment Services Technology Infrastructure Reprographics OPERATING REVENUES Charges for services $ Miscellaneous Total operating revenues 17,552,509 71,070 $ 17,062,603 294,506 $ 756,573 49 17,623,579 17,357,109 756,622 OPERATING EXPENSES Personal services Supplies 3,850,684 5,325,397 484,746 11,623,751 634,372 224,351 874,219 1,694,729 65,153 Other services Legal Insurance and claims Leases and rentals 1,840 6,080 Repairs and maintenance 767,478 1,290,525 Travel and transportation 6,142 103,065 68,688 325,310 7,874,045 772,853 44,369 17,518,112 17,701,066 821,534 105,467 (343,957) (64,912) 14,116 14,116 13,683 (649) 13,034 119,583 (330,923) (64,912) (17,145) (16,561) (8,281) 102,438 (347,484) (73,193) (232,178) 332,296 (254,690) Utilities Depreciation Total operating expenses Operating income (loss) 2,915 NONOPERATING REVENUES (EXPENSES) Investment income Loss on disposal of capital assets Total nonoperating revenues (expenses) Income (loss) before contributions and transfers Transfers out Change in net position Total net position (deficit), July 1, 2014, as restated Total net position (deficit), June 30, 2015 $ (129,740) 258 $ (15,188) $ (327,883) Employee Risk Management $ 20,170,791 443,008 Benefits Trust $ 129,363,894 11,312 Sheriff Warehouse $ 2,768,267 Total $ 2,768,267 20,613,799 129,375,206 188,494,582 2,582,249 1,610,663 119,703 49,234 2,726,491 15,377,902 244,369 10,230,313 24,001 13,132,784 13,853,739 4,917,009 $ 187,674,637 819,945 4,917,009 19,528,978 137,910,814 36,324 13,928 58,172 1,795 47,951 2,110,664 12,367 6,510 128,084 15,894 2,999 7,942,733 1,161,425 27,458,688 149,872,412 2,750,492 216,122,304 (6,844,889) (20,497,206) 17,775 (27,627,722) 171,201 231,834 171,201 231,834 (6,673,688) (20,265,372) (21,293) (11,188) (6,694,981) (20,276,560) 17,775 (27,272,005) (33,119,901) 36,126,674 489,483 3,341,684 (39,814,882) $ 15,850,114 157,439,792 430,834 (649) 430,185 17,775 (27,197,537) (74,468) $ 507,258 259 $ (23,930,321) Maricopa County Combining Statement of Cash Flows All Internal Service Funds Year Ended June 30, 2015 Equipment Services CASH FLOWS FROM OPERATING ACTIVITIES Charges for services Other receipts Payments for goods and services Payments for personal services and benefits Net cash provided by (used for) operating activities $ 17,552,509 Technology Infrastructure $ 71,070 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Net cash used for capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash provided by investing activities Net increase (decrease) in cash and cash equivalents 49 (301,566) (481,434) 325,549 255,071 (26,378) (17,145) (16,561) (8,281) (17,145) (16,561) (8,281) (75,738) (357,700) (36,525) (75,738) (357,700) (36,525) 12,599 11,441 12,599 11,441 245,265 Cash and cash equivalents, June 30, 2015 756,573 (11,826,663) (5,275,375) (107,749) 3,580,451 Cash and cash equivalents, July 1, 2014 $ 294,506 (13,455,475) (3,842,555) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers to other funds Loan payments to the General Fund Net cash provided by (used for) noncapital financing activities 17,062,603 Reprographics (71,184) 3,818,165 $ 3,825,716 $ $ 105,467 $ 3,710,416 337,416 $ 266,232 $ (64,912) RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES: Operating income (loss) Adjustments to reconcile operating income (loss) to net cash provided by (used for) operating activities: Depreciation expense Liability for reported and incurred but not reported claims - noncurrent Changes in assets [(increase)/decrease] and liabilities [increase/(decrease)]: Accounts receivable Inventories Prepaids Accounts payable Employee compensation payable Accrued liabilities Liability for reported and incurred but not reported claims - current SCHEDULE OF NONCASH INVESTING, CAPITAL AND NONCAPITAL FINANCING ACTIVITIES: Accumulated depreciation from disposed capital assets Machinery and equipment disposed Loss on disposal of capital assets 325,310 772,853 221,644 2,690 (335,001) 8,129 $ Net cash provided by (used for) operating activities $ (343,957) 325,549 $ 68,399 $ (68,399) (226,537) (9,147) 50,022 3,312 255,071 $ 127,731 $ (128,380) 649 260 44,369 (26,378) Employee Benefits Trust Risk Management $ 20,170,791 $ 443,008 135,467,735 Sheriff Warehouse $ 2,768,267 Total $ 11,312 (20,285,595) (2,509,359) (146,499,610) (1,580,097) (2,181,155) (12,600,660) (21,293) (11,188) 819,945 (2,701,183) (195,070,092) (13,688,820) 67,084 (14,160,489) (67,084) (74,468) (67,084) (67,084) (141,552) (21,293) (11,188) (25,362) (24,905) (520,230) (25,362) (24,905) (520,230) 153,827 253,908 431,775 153,827 253,908 431,775 (2,073,983) (12,382,845) (14,390,496) 34,636,454 45,855,345 88,227,831 $ 32,562,471 $ 33,472,500 $ $ (6,844,889) $ (20,497,206) $ 15,894 17,775 $ 73,837,335 $ (27,627,722) 2,999 1,161,425 3,918,942 3,918,942 6,103,841 6,103,841 92,345 16,392 1,053,892 400,077 1,335,546 72,890 30,566 $ (2,181,155) 316,679 1,070,284 (43,036) 1,121,902 164,919 (2,631,102) 2,000,804 239,539 $ 193,778,478 $ $ (12,600,660) 20,970 (2,631,102) 2,240,343 $ 67,084 $ $ (20,970) (14,160,489) 217,100 (217,749) 649 261 262 Financial Section Agency Funds Agency Funds Maricopa County Listing of Agency Funds Agency Funds are used to account for assets held by the County in a fiduciary capacity or as an agent for individuals, private organizations, and/or other funds. The County maintains two Agency Funds, which are not under the control of the Board of Supervisors. The Agency Funds are custodial in nature and do not involve measurement of results of operations. AGENCY FUNDS Property Tax Collections - The Property Tax Collections Fund accounts for property tax collections not yet disbursed to taxing jurisdictions. Special Purpose - The Special Purpose Fund accounts for receipts, which are designated for special purposes and are not related to an individual governmental unit. 265 Maricopa County Statement of Changes in Assets and Liabilities Agency Funds Year Ended June 30, 2015 Balance July 1, 2014, as restated PROPERTY TAX COLLECTION Assets Cash and investments held by County Treasurer Accrued interest Total assets $ 31,482,241 $ 31,482,241 Liabilities Deposits held for other parties Total liabilities $ 31,482,241 $ 31,482,241 $ 29,875,467 Additions $ Balance June 30, 2015 Deductions 577,642,779 43,690 $ 575,524,609 $ 33,600,411 43,690 577,686,469 $ 575,524,609 $ 33,644,101 $ 577,686,469 $ 575,524,609 $ 33,644,101 $ 577,686,469 $ 575,524,609 $ 33,644,101 $ 2,830,891 $ $ 32,706,358 SPECIAL PURPOSE Assets Cash and investments in bank and on hand Cash and investments held by County Treasurer 139,783,253 1,763,397,305 25,506 11,334 $ 169,684,226 $ 1,766,239,530 $ 1,824,108,177 $ 111,815,579 $ 57,036 $ $ $ Accrued interest Total assets 1,824,108,177 79,072,381 36,840 Liabilities Accounts payable Accrued liabilities Deposits held for other parties Total liabilities $ 10,824 67,860 334,944 174,279 169,292,246 1,766,054,427 1,824,108,177 111,238,496 509,223 169,684,226 $ 1,766,239,530 $ 1,824,108,177 $ 111,815,579 $ $ $ TOTAL AGENCY FUNDS Assets Cash and investments in bank and on hand $ Cash and investments held by County Treasurer 2,830,891 2,341,040,084 25,506 55,024 $ 201,166,467 2,343,925,999 $ 57,036 Accrued interest Total assets 29,875,467 171,265,494 2,399,632,786 32,706,358 112,672,792 80,530 $ 2,399,632,786 $ 145,459,680 $ $ Liabilities Accounts payable Accrued liabilities Deposits held for other parties Total liabilities $ $ 10,824 67,860 334,944 174,279 200,774,487 2,343,740,896 2,399,632,786 144,882,597 201,166,467 $ 2,343,925,999 $ 2,399,632,786 $ 145,459,680 266 509,223 STATISTICAL SECTION Maricopa County Listing of Statistical Information Contents Page Financial Trends Information These schedules contain trend information to help the reader understand how the County’s financial performance and well-being have changed over time. 270 Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Revenue Capacity 276 These schedules contain information to help the reader assess the County’s most significant local revenue source, the property tax. Tax Revenues by Source, Governmental Funds Assessed Value and Estimated Market Value of Taxable Property Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections Debt Capacity 281 These schedules present information to help the reader assess the affordability of the County’s current levels of outstanding debt and the County’s ability to issue additional debt in the future. Ratios of Outstanding Debt by Type Legal Debt Margin Information Pledged Revenue Coverage Demographic and Economic Information 284 These schedules offer demographic and economic indicators to help the reader understand the environment within which the County’s financial activities take place. Demographic and Economic Statistics Principal Employers Operating Information 286 These schedules contain service and infrastructure data to help the reader understand how the information in the County’s financial report relates to the services the County provides and the activities it performs. Budgeted Full-time Equivalent County Employees by Function/Program Operating Indicators by Function/Program Capital Asset Statistics by Function/Program 269 Maricopa County Net Position by Component Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year NET POSITION 2005-06 Governmental activities Net investment in capital assets 2007-08 2008-09 2009-10 $ 2,443,905,934 $ 2,488,280,795 $ 2,542,165,396 $ 2,712,797,252 $ 2,851,126,451 345,147,265 561,333,573 $ 3,350,386,772 437,856,827 686,000,889 $ 3,612,138,511 526,220,283 772,807,989 $ 3,841,193,668 480,937,127 601,165,852 850,348,663 848,551,674 $ 4,044,083,042 $ 4,300,843,977 $ $ 1,860,630 $ 7,691 (3,486,686) (1,618,365) Restricted Unrestricted Total governmental activities net position 2006-07 Business-type activities (1) Net investment in capital assets Restricted 7,556 (4,568,970) Unrestricted Total business-type activities net position 1,253,947 $ (3,307,467) Primary government Net investment in capital assets $ 2,445,159,881 $ 2,490,141,425 $ 2,542,165,396 $ 2,712,797,252 $ 2,851,126,451 Restricted 345,154,821 556,764,603 $ 3,347,079,305 437,864,518 682,514,203 $ 3,610,520,146 526,220,283 772,807,989 $ 3,841,193,668 480,937,127 601,165,852 850,348,663 848,551,674 $ 4,044,083,042 $ 4,300,843,977 Unrestricted Total primary government net position Fiscal Year NET POSITION 2010-11 2011-12 2012-13 2013-14 2014-15 Governmental activities Net investment in capital assets $ 3,105,417,974 $ 3,238,389,442 $ 3,358,835,597 $ 3,423,302,960 $ 3,290,683,747 Restricted 627,527,187 757,580,843 $ 4,490,526,004 625,230,345 698,200,079 $ 4,561,819,866 616,966,709 680,694,942 $ 4,656,497,248 542,254,851 638,467,088 $ 4,604,024,899 207,110,940 (347,913,774) $ 3,149,880,913 $ 25,668,674 $ 26,261,574 $ 2,199,816 4,057,242 31,925,732 $ 1,335,851 (90,428) 27,506,997 Unrestricted Total governmental activities net position (2) Business-type activities (1) Net investment in capital assets Restricted Unrestricted Total business-type activities net position (2) Primary government Net investment in capital assets $ 3,105,417,974 $ 3,238,389,442 $ 3,358,835,597 $ 3,448,971,634 $ 3,316,945,321 Restricted 627,527,187 757,580,843 $ 4,490,526,004 625,230,345 698,200,079 $ 4,561,819,866 616,966,709 680,694,942 $ 4,656,497,248 544,454,667 642,524,330 $ 4,635,950,631 208,446,791 (348,004,202) $ 3,177,387,910 Unrestricted Total primary government net position (2) (1) (2) From fiscal year 2008 through 2013, the County did not have any business-type activities. This schedule was not adjusted for the fiscal year 2013 restatements to net position. 270 Maricopa County Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year 2009-10 2010-11 2005-06 2006-07 2007-08 2008-09 2011-12 2012-13 2013-14 2014-15 $ 185,628,267 782,136,857 70,418,156 $ 211,473,080 864,907,381 132,992,498 $ 182,868,340 965,934,762 143,367,655 $ 174,659,283 984,626,109 90,253,798 $ 229,774,209 940,656,263 79,064,075 $ 186,443,502 934,185,866 82,789,191 $ 207,955,003 1,009,516,114 87,024,827 $ 300,000,895 1,133,313,901 163,763,533 433,776,254 32,596,971 464,255,008 36,196,645 383,885,390 38,751,304 403,757,839 42,912,993 331,333,847 37,933,317 387,892,315 43,325,625 441,741,947 52,783,614 432,470,577 44,071,366 403,901,208 50,968,956 408,240,433 56,220,746 20,220,846 7,763,995 15,687,335 6,254,330 14,687,029 10,347,354 8,298,531 8,707,887 8,234,785 6,123,987 9,219,564 7,640,462 12,886,213 5,409,382 18,417,838 4,606,548 26,684,832 5,237,255 28,791,958 4,568,950 1,532,541,346 1,731,766,277 1,739,841,834 1,713,216,440 1,590,947,506 1,713,844,489 1,762,315,703 1,702,984,888 1,791,288,195 2,094,900,416 40,048,082 56,657,239 2,400,374 334,354 25,070,360 23,483,448 Expenses Governmental activities: General government: (1) Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Interest on long-term debt Total governmental activities expenses Business-type activities: (2) AHCCCS — Acute Health Care program AHCCCS— ALTCS program Solid Waste Management Housing Authority Other business-type activities Total business-type activities expenses Total primary government expenses $ 235,215,523 $ 248,394,846 888,875,706 893,760,377 83,230,341 123,611,300 591,472 99,105,695 925,826 25,070,360 23,483,448 $ 1,631,647,041 $ 1,732,692,103 $ 1,739,841,834 $ 1,713,216,440 $ 1,590,947,506 $ 1,713,844,489 $ 1,762,315,703 $ 1,702,984,888 $ 1,816,358,555 $2,118,383,864 $ $ $ $ $ $ $ $ $ Program Revenues Governmental activities: Charges for services: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Operating grants and contributions Capital grants and contributions Total governmental activities program revenues Business-type activities: (2) Charges for services: AHCCCS — Acute Health Care program AHCCCS— ALTCS program Solid Waste Management 45,332,986 34,852,251 30,942,935 28,672,080 26,983,394 $ 27,698,094 25,986,495 30,980,314 24,448,700 21,160,957 102,807,289 12,380,453 95,402,079 12,756,421 160,282,028 19,009,650 161,019,287 29,894,868 154,380,972 26,534,563 152,507,151 28,130,243 157,678,693 14,143,550 144,058,659 19,546,115 140,384,054 15,534,823 140,199,614 12,462,039 33,726,958 9,378,993 36,933,502 4,213,017 48,326,397 14,216,206 54,265,926 13,111,055 46,903,563 13,230,460 54,135,715 11,928,461 51,271,770 13,205,450 51,271,352 13,292,978 51,138,425 14,943,535 53,105,959 15,778,337 82,561 818,977 687,074 837,422 918,352 215,723 179,928 508,813 465,823 1,536,658 393,375,512 42,537,895 443,607,678 47,256,549 263,428,112 68,386,096 229,027,912 124,182,030 255,625,422 95,268,969 286,447,310 58,859,929 290,123,847 7,642,252 271,351,538 50,238,182 259,112,950 49,569,607 280,244,440 31,634,976 639,622,647 675,840,474 605,278,498 641,010,580 619,845,695 619,922,626 560,231,985 581,247,951 555,597,917 556,122,980 29,801,116 53,842,048 908,814 969,493 360,864 667,376 6,741,213 5,717,592 Housing Authority 271 Maricopa County Changes in Net Position (Continued) 2005-06 2006-07 2007-08 2008-09 2009-10 Fiscal Year 2010-11 2011-12 2012-13 2013-14 Other business-type activities Operating grants and contributions Capital grants and contributions Total business-type program revenues Total primary gov’t program revenues Net (Expense)/Revenue Governmental activities Business-type activities (2) 2014-15 15,529,154 84,004,028 2,545,683 $ 723,626,675 $ 678,386,157 $ 605,278,498 $ 641,010,580 $ 619,845,695 $ 619,922,626 $ 560,231,985 $ 581,247,951 $ 16,300,111 1,440,065 23,710,432 579,308,349 $ 337,818 22,355,521 578,478,501 $ (892,918,699) $(1,055,925,803) $ (1,134,563,336) $(1,072,205,860) $ (971,101,811)$ (1,093,921,863) $(1,202,083,718) $(1,121,736,937) $(1,235,690,278) $(1,538,777,436) (15,101,667) 1,619,857 (1,359,928) (1,127,927) Total primary government net expense $ (908,020,366)$ (1,054,305,946) $ (1,134,563,336) $(1,072,205,860) $ (971,101,811) $ (1,093,921,863) $(1,202,083,718) $(1,121,736,937) $(1,237,050,206) $(1,539,905,363) General Revenues and other Changes in Net Position Governmental activities: Taxes Property taxes, levied for gen. purposes $ 388,190,146 $ 413,294,370 Property taxes, levied for Flood Control District 61,763,471 65,513,238 Property taxes, levied for Library District 17,366,792 18,390,885 Property taxes, levied for Street Light District $ 449,499,249 $ 482,697,371 $ 519,651,976 $ 518,956,222 $ 69,462,089 19,473,450 73,506,944 20,504,964 72,753,878 20,482,122 66,723,260 20,385,799 5,432,863 504,805,017 $ 447,135,707 429,235,095 460,057,355 61,210,182 19,049,420 5,026,752 53,647,040 16,971,693 5,026,752 39,287,012 14,246,516 6,070,638 43,266,625 19,677,385 6,014,834 Unrestricted share of state sales taxes Sales tax – Jail construction & operation Surcharge tax – Stadium District 457,785,985 137,876,660 6,498,814 480,411,950 145,389,597 6,288,093 460,958,772 138,063,948 6,132,465 394,920,581 116,878,703 5,304,565 366,285,237 107,094,680 4,668,705 385,487,679 112,451,803 4,989,933 400,453,544 118,052,954 5,192,003 418,642,153 124,595,909 5,217,452 447,541,942 133,929,831 5,394,707 476,452,381 140,492,834 4,915,704 Unrestr. share of state vehicle lic. tax 138,003,052 143,543,618 139,312,595 126,036,362 116,405,328 113,649,012 113,363,658 118,202,382 126,137,174 135,043,057 1,858,155 29,479,569 13,558,451 (43,435,540) 1,844,364 55,405,747 10,346,066 6,098,668 1,814,394 72,729,140 11,474,763 4,097,990 36,013,917 12,247,649 2,652,085 21,884,398 11,756,380 2,728,933 14,815,018 15,198,561 2,802,089 18,135,778 17,062,806 2,781,842 6,678,917 17,514,472 3,011,264 2,150,743 24,138,258 2,749,905 6,720,371 11,801,107 1,208,945,555 1,346,526,596 1,368,920,865 1,272,209,046 1,243,634,789 1,260,819,083 1,265,154,203 1,216,414,319 1,231,143,180 1,307,191,558 447,790 6,883 12,914 684,104 89 169,932 164,356 44,661 409,657 356,833 Grants and contributions not restricted to specific programs Unrestricted investment earnings Miscellaneous Transfers Total governmental activities Business-type activities: (2) Unrestricted investment earnings Gain (loss) on disposal of capital assets Miscellaneous Special item – repayment agreement. Special item – forgiveness of debt Transfers Total business-type activities Total primary government (468,781) 275,553 43,435,540 43,903,127 (6,098,668) (5,244,632) $ 1,252,848,682 $ 1,341,281,964 $1,368,920,865 $ 316,026,856 $ 290,600,793 28,801,460 (3,624,775) $ 344,828,316 $ 286,976,018 $ 234,357,529 $ 234,357,529 $1,272,209,046 164,445 617,923 $ 1,231,307,625 $ 1,307,809,481 $ 1,243,634,789 $1,260,819,083 $ 1,265,154,203 $ 1,216,414,319 $ 200,003,186 $ 272,532,978 $ 166,897,220 $ 63,070,485 $ 94,677,382 $ $ 200,003,186 $ 272,532,978 $ 166,897,220 $ 63,070,485 $ 94,677,382 $ Change in Net Position Governmental activities Business-type activities (2) Total primary government (1) (2) (4,547,098) $ (231,585,878) (1,195,483) (510,004) (5,742,581) $ (232,095,882) Beginning fiscal year 2007, general government expenses include loss on disposal of capital assets. This amount was previously shown separately within general revenues on the Statement of Activities. For comparison purposes, for fiscal year 2006, loss on disposal of capital assets was reclassified on this schedule into general government From fiscal year 2008 through 2013, the County did not have any business-type activities. 272 Maricopa County Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2005-06 2006-07 2007-08 2008-09 2009-10 General Fund Reserved $ $ $ 25,557,789 539,621,335 565,179,124 $ 22,460,845 Unreserved Total general fund $ $ 26,503,298 444,964,280 471,467,578 $ 20,929,952 410,035,269 $ 430,965,221 $ $ 21,465,733 512,125,107 533,590,840 $ 23,264,984 20,513,964 489,009,836 $ 509,523,800 $ 24,144,860 $ $ All Other Governmental Funds Reserved 22,105,351 19,468,729 Unreserved, reported in: Special revenue funds 259,363,049 306,244,082 339,553,123 366,227,240 408,964,189 Capital projects funds 115,785,803 18,808,809 416,418,506 447,826,380 18,495,336 795,830,782 490,257,680 15,265,958 869,221,621 598,462,118 7,007,229 993,801,938 578,091,264 1,696,337 $1,008,220,519 Debt service funds Total all other governmental funds $ $ $ $ Fiscal Year 2010-11 2011-12 2012-13 2013-14 2014-15 General Fund* Nonspendable $ 20,372,794 $ 19,923,166 $ 19,144,202 $ 19,770,325 $ 17,405,417 230,066,825 28,619,600 277,830,627 113,712,308 7,490,426 140,973,059 $ 82,953,184 16,042,494 116,401,095 $ 2,451,776 $ 2,287,114 $ Restricted Committed 162,000,000 159,000,000 Assigned 225,405,703 21,623,906 429,402,403 $ 88,432,960 35,578,965 302,935,091 $ 2,774,433 $ 2,634,776 $ Unassigned Total general fund $ All Other Governmental Funds* Nonspendable $ 4,897,508 Restricted 625,559,970 623,361,495 615,289,987 541,960,456 660,382,287 Committed 446,474,182 504,306,863 470,044,802 554,526,504 591,699,861 (9,454,552) (8,028,141) $ 1,065,354,033 $ 1,122,274,993 (7,751,843) $ 1,080,034,722 (2,385,853) $ 1,096,388,221 (5,105,739) $ 1,251,873,917 Assigned Unassigned Total all other governmental funds (a) *Fund Balance Classifications for fiscal year 2011 are changed due to the initial year of GASB Statement No.54 presentation (a) This schedule was not adjusted for the fiscal year 2013 restatement to fund balance. 273 Maricopa County Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2005-06 2006-07 2007-08 2008-09 Revenues Taxes $ Licenses and permits 601,231,444 $ 640,375,614 $ 672,237,546 $ 686,964,346 42,266,662 40,078,842 40,434,059 41,439,097 1,025,737,248 1,105,841,984 904,588,701 783,903,253 Charges for services 86,925,888 87,668,832 153,431,323 169,543,750 Fines and forfeits 23,366,008 31,641,869 32,061,172 37,360,387 3,770,790 3,929,786 5,284,808 4,841,432 Intergovernmental Special assessments Interest income Miscellaneous 69,589,514 105,465,489 110,992,618 95,349,598 Total revenues 1,852,887,554 2,015,002,416 1,919,030,227 1,819,401,863 General government 131,031,069 173,121,467 173,285,719 176,738,216 Public safety 733,244,452 813,297,449 882,964,097 895,818,537 47,763,048 56,087,569 54,885,932 54,407,137 430,614,292 461,668,854 378,763,080 396,702,161 Culture and recreation 24,625,293 28,283,735 30,186,081 33,870,918 Education 18,885,218 15,218,331 14,677,474 8,523,122 Principal 18,780,267 16,297,518 15,607,476 18,833,968 Interest 8,497,208 6,030,238 11,441,406 10,026,110 17,508 1,460,467 5,250 3,188 Expenditures Highways and streets Health, welfare and sanitation Debt service Other Payment to escrow agent Capital outlay Total expenditures 232,922,515 301,383,004 278,993,140 220,481,647 1,646,380,870 1,872,848,632 1,840,809,655 1,815,405,004 206,506,684 142,153,784 78,220,572 3,996,859 Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfers in Transfers out 314,004,599 791,514,765 389,617,546 446,171,799 (357,440,139) (785,416,097) (386,617,546) (446,171,799) 29,953,944 20,121,941 Capital lease agreements 9,395,689 25,720,244 Proceeds from bond issuance 3,000,000 140,940,000 (10,605,000) (34,414,011) 1,217,018 10,106,857 (41,644,851) 141,158,007 43,060,801 Premium on refunding bonds 1,596,088 Payment to escrow agent Loan Proceeds Total other financing sources (uses) Net change in fund balances $ 164,861,833 $ 283,311,791 $ 121,281,373 20,121,941 $ 24,118,800 Debt service as a percentage of noncapital expenditures 1.9% 1.4% (a) Data was adjusted in fiscal year 2014. 274 1.7% 1.8% Fiscal Year 2009-10 (a) $ 716,804,640 2010-11 $ 715,851,831 2011-12 $ 2012-13 704,104,717 $ 642,325,131 2013-14 $ 615,127,234 2014-15 $ 658,661,300 38,496,710 41,372,329 57,136,150 43,803,739 44,295,063 46,201,667 772,997,433 802,853,910 827,075,550 870,032,708 879,890,750 918,331,602 177,455,822 185,637,288 160,595,034 170,891,803 158,418,054 159,083,257 35,152,334 34,094,367 31,006,029 30,760,368 28,981,715 25,235,245 4,377,292 5,432,863 5,026,752 5,068,492 6,070,638 6,014,834 20,318,913 15,029,350 13,829,194 15,477,441 17,305,398 18,164,312 6,264,554 28,665,945 1,028,984 16,886,275 6,074,604 16,239,536 1,780,632,494 1,814,549,223 1,820,413,942 1,797,812,740 1,750,698,713 1,835,842,045 208,844,970 193,235,111 168,967,810 151,832,578 135,670,741 149,081,146 825,412,465 829,965,019 873,303,867 871,928,815 960,017,951 1,005,051,315 52,572,927 53,297,470 49,416,837 48,459,526 51,635,626 54,006,764 326,936,948 384,436,682 435,449,254 425,526,752 400,282,296 404,729,045 28,121,160 30,005,985 30,792,212 33,003,716 36,936,932 36,529,631 7,684,473 8,927,278 12,731,152 18,255,308 26,506,855 28,096,030 15,914,149 15,728,150 18,406,034 15,290,371 20,742,071 17,866,397 9,246,731 8,558,856 7,671,184 5,844,641 5,391,181 4,726,682 91,580 1,249 132,718 1,250 1,215,938 212,063,026 320,011,115 279,162,786 6,381,485 251,067,940 228,759,097 213,487,827 1,686,888,429 1,844,166,915 1,875,901,136 1,827,723,850 1,865,944,000 1,914,790,775 93,744,065 (29,617,692) (55,487,194) (29,911,110) (115,245,287) (78,948,730) 383,496,208 677,002,927 499,886,853 483,487,756 516,830,224 379,355,888 (383,459,515) (675,672,626) (502,575,907) (520,550,878) (521,296,732) (379,281,420) 8,329,091 25,140,000 185,580,000 15,633,417 (24,997,819) 36,693 $ 93,780,758 1.7% 1,330,301 $ (28,287,391) 1.6%(a) (2,689,054) $ (58,176,248) 1.6% (36,920,941) $ (66,832,051) 1.7%(a) 275 (4,466,508) $ (119,711,795) 1.6% 209,616,976 $ 130,668,246 1.4% Maricopa County Tax Revenues by Source, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2005-06 $ General State Vehicle Highway Baseball Property Taxes Sales Tax License Tax User Fuel Tax Stadium Tax 456,855,970 $ 457,785,985 $ 147,366,085 $ 96,972,512 $ 5,294 2006-07 488,697,924 480,411,950 153,262,719 107,593,116 1,938 2007-08 528,041,133 460,958,772 148,862,871 102,751,593 1,160 2008-09 564,781,078 394,920,582 134,831,210 90,419,237 875 2009-10 605,041,255 366,285,238 124,579,510 84,950,511 131 2010-11 598,410,095 385,487,679 121,637,533 85,975,735 1,667 2011-12 580,859,760 400,453,543 122,011,906 78,928,602 322 2012-13 512,511,770 418,642,153 127,115,879 86,815,139 41 2013-14 475,802,697 447,541,942 135,565,922 89,630,002 0 2014-15 513,252,762 476,452,381 145,066,005 97,931,744 39 Change 2006-15 12.3% 4.1% (1.6%) Rental Fiscal Year 2005-06 6,493,520 (99.3%) Street Car Surcharge $ 1.0% Jail Tax $ 137,876,660 Lighting Assessments $ 3,770,790 Total Revenues $ 1,307,126,816 2006-07 6,286,155 145,389,597 3,929,786 1,385,573,185 2007-08 6,131,305 138,063,948 5,284,808 1,390,095,590 2008-09 5,303,690 116,878,703 4,841,432 1,311,976,805 2009-10 4,668,574 107,094,680 4,377,292 1,296,997,190 2010-11 4,988,266 112,451,803 5,432,863 1,314,385,641 2011-12 5,191,681 118,052,954 5,026,752 1,310,525,520 2012-13 5,217,411 124,595,909 5,068,492 1,279,966,794 2013-14 5,394,706 133,929,831 6,070,638 1,293,935,738 2014-15 3,564,212 140,492,834 6,014,834 1,382,774,811 (45.1%) 1.9% Change 2006-15 59.5% 5.8% The Vehicle License Tax for fiscal year 2006 and all subsequent years, have a combined amount from the General and Transportation Funds. The Baseball Stadium Tax ended in November 1997, but small amounts continue to be remitted on delinquent tax returns. The Jail Tax was approved by the voters in the General Election on November 3, 1998. 276 Maricopa County Assessed Value and Estimated Market Value of Taxable Property Last Ten Fiscal Years (in thousands of dollars) Property Values Fiscal Assessed Total Total Secured Total Assessed Year Direct and Unsecured Value as a Ended June 30, Secured Tax Rate Estimated Market Value Percentage of Total Estimated Market Value 2005-06 $ 31,886,842 $ 1,310,377 $ 33,197,219 1.4611 $ 273,817,028 12.1% 2006-07 34,922,001 1,372,693 36,294,694 1.4348 301,474,323 12.0% 2007-08 48,136,309 1,398,265 49,534,574 1.2970 431,682,163 11.5% 2008-09 56,831,715 1,471,920 58,303,635 1.2047 516,677,465 11.3% 2009-10 56,523,957 1,460,095 57,984,052 1.1629 516,184,657 11.2% 2010-11 48,247,443 1,415,100 49,662,543 1.2409 444,097,352 11.2% 2011-12 37,474,985 1,285,311 38,760,296 1.4679 359,683,508 10.8% 2012-13 33,136,394 1,264,061 34,400,455 1.4679 321,960,273 10.7% 2013-14 30,817,627 1,411,380 32,229,007 1.4637 310,300,015 10.4% 2014-15 33,658,024 1,421,622 35,079,646 1.5157 339,536,632 10.3% Unsecured Total Secured and Unsecured assessed property values and estimated market values are determined each calendar year. The tax rates are applicable beginning July 1st of the next fiscal year. The Board of Supervisors approves the tax rates on the third Monday of August. Source: Maricopa County Department of Finance – Property Tax Division. 277 Maricopa County Direct and Overlapping Property Tax Rates Last Ten Fiscal Years County Direct Rates General Obligation Flood County Fiscal Year County Operating Debt Service Control District Library District Total Direct 2005-06 1.1971 0.0000 0.2119 0.0521 1.4611 2006-07 1.1794 0.0000 0.2047 0.0507 1.4348 2007-08 1.1046 0.0000 0.1533 0.0391 1.2970 2008-09 1.0327 0.0000 0.1367 0.0353 1.2047 2009-10 0.9909 0.0000 0.1367 0.0353 1.1629 2010-11 1.0508 0.0000 0.1489 0.0412 1.2409 2011-12 1.2407 0.0000 0.1780 0.0492 1.4679 2012-13 1.2407 0.0000 0.1780 0.0492 1.4679 2013-14 1.2807 0.0000 0.1392 0.0438 1.4637 2014-15 1.3209 0.0000 0.1392 0.0556 1.5157 Overlapping Rates Central Arizona State Fiscal Year of Arizona Water Other Community Education Equalization Conservation District Special Districts College District School Districts Cities 2005-06 0.0000 0.4358 0.1200 0 – 3.8600 1.0315 (1) 1.0182- 14.3301(1) 0 - 2.4275 (1) 2006-07 0.0000 0.0000 0.1200 0 – 3.8600 1.0646 0.8765 - 14.7188 0 - 2.9666 2007-08 0.0000 0.0000 0.1000 0 – 3.8600 0.9760 0.9413 - 8.7577 0 - 2.6736 2008-09 0.0000 0.0000 0.1000 0 – 3.3000 0.9386 0.6874 - 12.7204 0 - 2.2993 2009-10 0.0000 0.3306 0.1000 0 – 3.3000 0.8844 0.7773 - 10.8439 0 - 2.5074 2010-11 0.0000 0.3564 0.1000 0 – 3.3000 0.9728 0.7098 - 10.7955 0 - 2.4390 2011-12 0.0000 0.4259 0.1000 0 – 4.0500 1.2082 0.7566 - 10.7955 0 - 2.9084 2012-13 0.0000 0.4717 0.1000 0 – 6.1500 1.3778 0.7710 - 10.4523 0 - 3.8886 2013-14 0.0000 0.5123 0.1400 0 – 5.3000 1.5340 0.7463 - 10.2183 0 - 4.0399 2014-15 0.0000 0.5089 0.1400 0 – 5.6098 1.5187 0.7734 - 10.6361 0 - 1.9500 Source: Maricopa County Department of Finance – Property Tax Division. All tax rates are per $100 assessed valuation. (1) Data updated in fiscal year 2007. 278 Maricopa County Principal Property Taxpayers Current Year and Nine Years Ago 2014-15 2005-06 Percentage of Percentage of Total County Taxpayer Arizona Public Service Company Secondary Valuation Rank Assessed Value Total County Secondary Valuation Rank Assessed Value $ 1,081,236,150 1 3.08% $ 960,770,161 1 2.90% Southwest Gas Corporation (T&D) 151,458,063 2 0.43% 148,557,030 4 0.45% Qwest Corporation 141,676,486 3 0.40% 430,859,239 2 1.30% Southern California Edison Co (T&D) 133,176,587 4 0.38% 165,327,964 3 0.50% El Paso Electric Company (T&D) 119,735,509 5 0.34% 136,742,115 5 0.41% Wal-Mart Stores Inc. 95,116,249 6 0.27% 55,635,992 14 0.17% Arizona Solar One LLC 77,907,385 7 0.22% AT&T 77,886,205 8 0.22% 58,591,197 13 0.18% Public Service Company of New Mexico (T&D) 69,688,803 9 0.20% 78,035,265 7 0.24% Sundevil Power Holdings, LLC 65,266,335 10 0.19% Verizon Wireless 64,751,991 11 0.18% Target Corporation 54,081,831 12 0.15% 65,925,348 9 0.20% New Harquahala Generating Co, LLC 52,725,000 13 0.15% Gila River Power, LLC 47,700,029 14 0.14% Southern Cal Public Power Authority (Palo Verde) 45,675,174 15 0.13% 61,459,710 12 0.19% Mesquite Power LLC 44,432,745 16 0.13% 35,807,239 20 0.11% Intel Corporation 42,107,998 17 0.12% 72,236,151 8 0.22% Smith’s Food & Drug Centers Inc. 39,298,742 18 0.11% Safeway Inc. 37,108,597 19 0.11% 62,843,996 11 0.19% Host Kierland LP 35,121,020 20 0.10% Cox Communications 103,396,395 6 0.31% Wells Fargo Bank 65,614,265 10 0.20% Scottsdale Fashion Square Partnership 49,351,445 15 0.15% Albertsons Inc. 44,951,516 16 0.14% Freescale Semiconductor Inc. 43,491,886 17 0.13% Metropolitan Life Insurance Company 37,414,493 18 0.11% Panda Gila River, LP 37,409,399 19 0.11% Total Principal Taxpayers $ 2,476,150,899 Countywide Secondary Valuation $ 35,079,646,593 Source: Maricopa County Assessor’s Office. 279 7.05% $ 2,714,420,806 $ 33,197,218,398 8.21% Maricopa County Property Tax Levies and Collections Last Ten Fiscal Years Collected within the Fiscal Year of the Levy Fiscal Total Collections to Date County Tax Year Levied Ended June 30, For the Fiscal Year Collections Percentage of Levy Amount In Subsequent Years $ 6,917,173 Amount $ Percentage of Levy 2005-06 $ 451,253,280 $ 438,441,057 97.16 445,358,230 98.69 2006-07 484,223,277 469,107,028 96.88 10,001,258 479,108,286 98.94 2007-08 519,814,623 503,200,873 96.80 13,734,020 516,934,893 99.45 2008-09 558,747,827 535,412,874 95.82 18,172,791 553,585,665 99.08 2009-10 587,695,910 562,196,230 95.66 17,582,947 579,779,177 98.65 2010-11 580,723,610 556,833,931 95.89 12,056,465 568,890,396 97.96 2011-12 559,042,706 541,115,030 96.79 11,148,323 552,263,353 98.79 2012-13 496,621,093 483,768,161 97.41 8,435,328 492,203,489 99.11 2013-14 463,734,687 454,630,238 98.04 6,173,682 454,630,238 98.04 2014-15 505,927,593 495,964,759 98.03 495,964,759 98.03 Note: Collections to date may exceed 100%, as the initial amount levied is not updated to reflect any adjustments or exemptions arising from taxpayer disputes. County Tax Levied for the Fiscal Year Fiscal Year Ended June 30, 2005-06 Flood Control District County Operating $ $ 62,733,411 County Library $ 17,295,751 Total County 2006-07 371,224,118 398,725,245 67,096,622 18,401,410 484,223,277 2007-08 430,023,735 70,422,870 19,368,018 519,814,623 2008-09 463,492,311 74,674,333 20,581,183 558,747,827 2009-10 492,230,736 74,996,804 20,468,370 587,695,910 2010-11 492,224,342 68,019,592 20,479,676 580,723,610 2011-12 477,571,468 62,401,172 19,070,066 559,042,706 2012-13 425,111,491 54,584,578 16,925,024 496,621,093 2013-14 409,775,397 39,842,985 14,116,305 463,734,687 2014-15 442,762,977 43,660,332 19,504,284 505,927,593 Source: Maricopa County Department of Finance – Property Tax Division. 280 $ 451,253,280 Maricopa County Ratios of Outstanding Debt by Type Last Ten Fiscal Years Other Governmental Activities Debt Fiscal Year Ended June 30, 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Lease Revenue Bonds 81,188,067 181,245,043 173,670,000 163,900,000 153,285,000 142,140,000 130,815,000 120,350,000 108,975,000 97,135,000 Lease Stadium Trust Certificates 9,212,000 6,812,000 4,612,000 District Rev. Bonds 50,050,000 47,230,000 44,270,000 41,165,000 37,905,000 34,515,000 30,945,000 22,440,000 19,260,000 16,010,000 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Certificates of Participation 5,115,000 4,715,000 4,295,000 3,850,000 3,385,000 2,895,000 185,580,000 Capital Leases 16,312,891 33,039,132 50,093,644 51,135,340 14,956,315 432,651 Special Assessment 154,267 103,077 82,519 193,591 174,442 120,533 80,050 64,679 49,465 44,727 Bond Premium 6,413,114 7,237,834 6,332,348 5,426,862 4,521,377 3,615,891 1,371,661 706,020 559,708 16,046,812 Installment Lease Housing Purchase Agreements Revenue Bonds Authority Debt 546,202 205,765 36,933 29,957 2,787,917 (d) 3,609,943 6,373,931 (e) 10,145,745 (e) 6,187,432 Total Percentage Primary of Assessed Government (c) Property Value (a) Per Capita (b) 0.52% 0.78% 0.59% 0.47% 0.39% 0.39% 0.45% 0.44% 0.42% 0.94% 45.21 72.07 73.78 67.09 55.56 50.25 44.51 38.86 34.28 81.49 171,457,362 (d) 281,596,202 (d) 294,220,427 (d) 276,136,131 (d) 223,513,232 (d) 191,825,932 (d) 172,906,485 (d) 152,877,499 135,218,104 331,149,716 District Loans 2,428,888 (d) 978,394 (d) 10,864,916 (d) 10,465,338 (d) 9,286,098 (d) 8,106,857 (d) 6,906,857 (d) 5,706,857 Business-Type Activities Other Governmental Activities Debt Fiscal Year Ended June 30, Stadium Note: Details regarding the County’s outstanding debt can be found in the notes to the financial statements. (a) See Assessed Value and Estimated Market Value of Taxable Property schedule for assessed property value data. (b) Population data can be found in the Demographic and Economic Statistics schedule. (c) Includes other governmental activities and business-type activities debt. (d) Data was adjusted in fiscal year 2013 to include all long-term debt instruments and bond premium as reported in the basic financial statements. (e) Beginning FY14, Housing Authority is reported in Business-Type Activities. 281 Maricopa County Legal Debt Margin Information Last Ten Fiscal Years Fiscal Year Debt limit 2005-06 2006-07 2007-08 2008-09 2009-10 $ 4,979,582,760 $5,444,204,040 $ 7,430,186,074 $8,745,545,293 $8,697,607,759 $ 4,979,582,760 $ 5,444,204,040 $ 7,430,186,074 $ 8,745,545,293 $8,697,607,759 0% 0% 0% Total net general obligation debt Legal debt margin Total net debt applicable to the limit as a percentage of debt limit 0% 0% Fiscal Year Debt limit 2010-11 2011-12 2012-13 2013-14 2014-15 $7,449,381,543 $5,814,044,507 $ 5,160,068,357 $4,834,351,022 $5,261,946,989 $7,449,381,543 $5,814,044,507 $ 5,160,068,357 $4,834,351,022 $5,261,946,989 0% 0% 0% 0% Total net general obligation debt Legal debt margin Total net debt applicable to the limit as a percentage of debt limit 0% Legal Debt Margin Calculation for Fiscal Year 2014-15 Assessed Value $ 35,079,646,593 Debt limit (15% of assessed value) 5,261,946,989 Debt applicable to limit: General obligation bonds Total net debt applicable to limit Legal debt margin $ 5,261,946,989 Note: The Arizona Constitution, Article 9, Section 8, states that a County may become indebted for an amount not to exceed fifteen percent of taxable property. 282 Maricopa County Pledged Revenue Coverage Last Ten Fiscal Years Stadium District Revenue Bonds Net Revenue Available Fiscal Year 2005-06 Gross Revenue $ For Debt Service (1) 7,018,591 $ Debt Service Requirements Principal Interest Total $ 2,738,844 $ Gross Coverage Net Coverage 10,697,550 $ 2,685,000 5,423,844 129% 197% 2006-07 6,838,436 10,702,495 2,820,000 2,604,374 5,424,374 126% 197% 2007-08 6,671,848 10,511,470 2,960,000 2,463,594 5,423,594 123% 194% 2008-09 5,714,998 9,993,478 3,105,000 2,317,532 5,422,532 105% 184% 2009-10 5,005,605 9,468,739 4,260,000 2,160,344 6,420,344 78% 147% 2010-11 5,322,380 9,255,676 4,569,241 2,029,943 6,599,184 81% 140% 2011-12 5,527,021 9,245,158 4,770,000 1,852,039 6,622,039 83% 140% 2012-13 5,183,923 4,360,173 3,900,000 610,378 4,510,378 115% 97% 2013-14 5,394,706 4,401,308 8,886,857 512,882 9,399,739 57% 47% 2014-15 3,564,657 4,275,019 3,250,000 440,946 3,690,946 97% 116% Special Assessment Bonds Net Revenue Available Fiscal Year 2005-06 Gross Revenue $ For Debt Service (1) 60,481 $ 157,670 Debt Services Requirements Principal Interest Total $ 81,191 $ 14,634 $ Gross Coverage Net Coverage 95,825 63% 165% 2006-07 27,874 123,706 51,819 10,019 61,838 45% 200% 2007-08 56,579 146,962 26,711 6,612 33,323 170% 441% 2008-09 108,555 204,154 36,968 14,395 51,363 211% 397% 2009-10 53,667 134,815 19,149 13,527 32,676 164% 413% 2010-11 28,253 98,077 53,909 11,082 64,991 43% 151% 2011-12 22,013 73,157 40,483 6,450 46,933 47% 156% 2012-13 29,361 81,996 15,371 5,151 20,522 143% 400% 2013-14 94 29,564 15,214 4,369 19,583 0% 151% 2014-15 0 17,554 4,738 4,374 9,112 0% 193% Note: Details regarding the outstanding debt can be found in the notes to the financial statements. (1) Net revenue available for debt service consists of gross revenues plus beginning fund balance less expenditures not covered by bond proceeds and all transfers not applicable to debt retirement. Fund balance is included in net revenue since it represents unexpended pledged revenues. 283 Maricopa County Demographic and Economic Statistics Last Ten Fiscal Years Fiscal Year 2005-06 2006-07 2007-08 2008-09 2009-10 County 3.6% 2.9% 4.3% 8.0% 9.6% (1) State 4.2% 3.4% 4.8% 8.7% 10.5% (1) United States 4.6% 4.5% 5.5% 9.5% Unemployment Rate (June 30,) 9.5% Population/Income Statistics Income $134,339,487,000 $139,665,253,000 $ 145,880,680,000 $146,898,132,000 3,792,675 3,907,492 3,987,942 4,115,811 Population Per Capita $ 35,421 (1) $ 35,743 (1) $ 36,580 (1) $ 35,691 (1) $140,351,646,000 (1) 4,023,132 $ 34,886 (1) Fiscal Year 2010-11 2011-12 2012-13 2013-14 2014-15 Unemployment Rate (June 30,) County 8.9% (1) 7.5% (1) 7.1% 6.4% 5.3% State 9.5% (1) 8.4% (1) 8.0% 6.9% 5.9% United States 9.2% 8.2% 7.6% 6.1% 5.3% Population/Income Statistics Income $ 147,724,392,000 Population Per Capita $ 156,763,179,000 (2) $160,497,824,000 (2) 3,817,117 $ 38,701 3,884,705 (2) $ 40,354 (2) 3,933,712 40,801 (2) (3) (3) 3,944,859 4,063,700 (3) (3) Source: Workforce Informer Arizona at www.workforce.az.gov for unemployment rate and population. U.S. Department of Commerce Bureau of Economic Analysis for income data. (1) Data was adjusted in fiscal year 2013. (2) Data was adjusted in fiscal year 2014. (3) Income and per capita estimates were not yet available for fiscal years 2014 and 2015. 284 Maricopa County Principal Employers Current Year and Nine Years Ago 2015 2006 Percentage of Employer Employees Rank Total County Employment Percentage of Employees Rank Total County Employment State of Arizona 50,816 1 2.67% 49,305 1 2.58% Banner Health 35,406 2 1.86% 16,400 3 0.86% Wal-Mart Stores 32,373 3 1.70% 28,800 2 1.51% Fry’s Food Stores 17,286 4 0.91% 11,780 7 0.62% City of Phoenix 14,585 5 0.77% 14,166 4 0.74% Wells Fargo 14,480 6 0.76% 11,800 6 0.62% Maricopa County 13,567 7 0.71% 13,274 5 0.70% Arizona State University 12,676 8 0.67% 11,533 9 0.60% Dignity Health 12,100 9 0.64% University of Arizona 11,442 10 0.60% U.S. Postal Services 11,700 8 0.61% Honeywell Aerospace 10,700 10 0.56% Total for Principal Employers Total Employment in Maricopa County 214,731 11.29% 1,900,314 0.00% 179,458 9.40% 1,907,700 As of June 30 Source: The Phoenix Business Journal, Book of Lists Workforce Informer Arizona at www.workforce.az.gov for total employed in Maricopa County. Difference in number of employees reported on this report for Maricopa County and the next report is due to the next report using budgeted full time employees. 285 Maricopa County Budgeted Full-time Equivalent County Employees by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Board of Supervisors 22 24 27 25 25 26 27 27 27 Call Center 33 33 33 33 27 27 27 27 27 27 County Assessor 331 358 365 361 322 323 329 324 320 322 County Manager 21 26 20 13 27 30 31 26 18 18 Elections 54 58 58 58 54 54 54 52 52 52 263 264 271 232 182 184 194 125 136 137 Finance 44 56 56 49 40 41 43 44 35 39 Workforce Management & Development 55 53 17 52 47 44 43 116 46 46 109 109 117 142 119 111 133 165 169 202 Internal Audit 15 20 20 20 17 17 17 19 19 18 Management and Budget 32 35 27 33 32 31 29 31 19 18 Materials Management 35 37 37 37 34 34 34 39 39 37 Other General Government 81 83 177 92 82 82 81 95 89 90 Recorder 80 84 84 85 63 63 63 62 62 56 Employee Health Initiatives 23 24 30 28 24 20 19 28 26 28 Treasurer 59 63 64 47 41 49 52 55 53 55 Deputy County Manager 13 12 Assistant County Manager 12 11 General Government Facilities Management Enterprise Technology 27 Public Safety Adult Probation 1,193 1,237 1,249 1,246 1,050 1,065 1,072 1,071 1,100 1,117 743 772 776 768 679 680 674 671 675 683 30 31 31 32 30 35 35 36 36 36 992 1,037 1,033 1,023 977 887 918 945 936 946 2,071 2,206 2,291 2,280 2,167 2,176 2,204 2,248 2,271 2,335 15 15 15 14 14 13 14 14 15 15 Flood Control 208 209 196 189 185 190 192 254 252 228 Juvenile Probation 966 951 957 902 758 752 733 708 693 689 Medical Examiner 70 73 91 91 76 77 78 86 87 88 190 214 205 177 102 104 111 113 77 85 36 36 36 35 33 33 41 41 41 42 3,558 3,835 3,850 3,810 3,695 3,607 3,588 3,602 3,689 3,928 348 368 471 456 404 453 463 474 477 464 40 13 4 4 Clerk of Superior Court Constables County Attorney Court System Emergency Management Planning & Development Public Fiduciary Sheriff Correctional Health Deputy County Manager Assistant County Manager Highways and Streets Transportation 477 484 515 513 522 510 490 417 416 410 Air Quality 131 164 165 257 205 180 143 141 141 142 Animal Control 149 158 156 167 168 168 169 165 165 170 Environmental Services 197 205 307 271 265 276 284 286 293 290 Human Services Other Health, Welfare and Sanitation 463 471 461 435 342 397 385 380 364 372 41 50 7 7 9 9 12 10 11 11 Public Health 575 587 556 533 508 577 614 602 613 625 Solid Waste 13 18 23 29 31 31 29 28 23 23 2 2 Health, Welfare and Sanitation Assistant County Manager Culture and Recreation Library District Parks and Recreation Stadium District 150 150 161 161 168 172 171 171 165 165 88 90 92 90 85 85 86 84 83 81 5 5 5 5 3 5 5 5 5 5 33 33 40 37 35 47 60 111 134 152 13,999 14,726 15,091 14,835 13,647 13,665 13,747 13,898 13,970 14,316 Education Education Service Source: County Management and Budget Department 286 Maricopa County Operating Indicators by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program General Government County Assessor Number of parcels assessed Elections Registered voters Number voting (1) Public Safety Adult Probation Probationers (including absconders) Community service hours Collections County Attorney Adult felony filings Juvenile filings Flood Control District Linear miles of watercourses delineated Presentation, consultation requests completed Square miles of watershed studies completed Drainage complaint investigations conducted <30 days Justice Courts Annual new filings Total non-jury trials commenced Total jury trials commenced Juvenile Probation Population under 18 yrs old Juveniles brought to detention Average detention length (days) Superior Court Annual Case Filings Public Health Certified copies of birth or death certificates Number of immunizations Cases of communicable diseases investigated Culture and Recreation Library District Number of items circulated Number of library cards issued Number of print, media and electronic items Education Superintendent of Schools School districts in Maricopa County Home Schooled students Private School students 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 1,339,473 1,494,585 1,533,026 1,543,998 1,543,998 1,546,229 1,546,690 1,547,609 1,549,513 1,559,141 1,475,218 899,484 1,529,223 899,484 1,588,186 1,380,571 1,834,377 1,380,571 1,820,851 1,380,571 1,919,175 1,004,125 1,868,255 1,004,125 1,915,531 1,390,836 1,973,543 1,390,836 1,972,381 877,187 30,631 31,405 30,617 30,666 31,160 31,093 30,660 29,684 28,704 27,568 813,931(2)1(2) 680,989 517,816 586,723 407,628 327,894 299,018 290,650 365,718 407,905 $32,078,615 $31,078,450 $29,590,772 $28,690,912 $26,396,659 $28,899,021 $28,442,000 $27,415,557 $27,337,265 $27,043,194 39,654 13,752 38,694 14,401 N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) N/A (3) 31,902 21,488 33,889 9,751 31,179 24,533 260 282 342 204 60 22 10 0 0 0 39 30 965 160 121 153 209 673 697 23 1,994 503 631 411 619 324 1,221 59 105 6 149 140 141 319 155 73 57 128 142 119 379,496(2)6(2) 412,558 435,744 725,654(5) 827,383 835,882 353,588 335,860 262,024 311,187 17,630 218(2) 4,079 495 5,467 754 3,626 120 2,511 110 2,713 108 2,918 60 2,975 83 3,480 606 2,613 94 932,466 951,049 1,110,894 1,133,112 1,155,774 1,007,861 1,026,014 1,028,018 1,048,579 1,023,993 10,029 10,491 10,444 10,327 9,707 8,639 8,263(6) 7,227 6,698 6,165 19 17 14 13 13 14 13(6) 15 14 15 157,956(4) 162,856 177,892 190,330 192,303 222,137 203,670 202,545 204,578 201,236 311,980 308,493 324,777 235,573 354,316 279,778 374,678 275,724 365,671 229,251 292,162 157,894 270,648 138,596 270,266 132,330 257,152 127,417 288,837 122,321 2,867 3,031 8,795 9,671 11,728 10,853 10,501(6) 10,179 11,512 10,730 4,271,158 57,732 4,531,500 52,652 5,911,180 64,648 7,179,520 62,973 7,481,836 57,757 7,507,016 48,410 7,792,398 46,374 8,079,755 40,521 8,264,133 43,020 7,396,715 42,354 986,390 736,061 826,458 828,188 790,723 719,534 639,131 660,044 671,036 666,091 58 8,249 27,585 58 9,517 27,606 58 9,790 29,283 58 9,737 19,213 58 10,017 20,215 58 9,874 18,098 58 9,804 16,958 58 10,930 19,579 58 11,595 18,395 58 12,232 19,526 (1) November general election data used for two fiscal-year time span (i.e., fiscal-year of election date and fiscal year immediately prior to election). (2) Data updated in fiscal year 2007. (3) Information unavailable for fiscal year. (4) Data was adjusted during fiscal year 2005. (5) Significant increase due to photo enforcement. (6) Data was adjusted during fiscal year 2013. Note: Indicators for Highways and Streets is not available. Source: Managing for Results – Strategic Plans and Performance Measures. 287 Maricopa County Capital Asset Statistics by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 General Government Facilities Management Number of buildings owned by Facilities(1) Number of buildings maintained by Facilities 353 26 26 27 34 25 25 28 27 29 177 177 175 167 160 178 194 196 198 202 Public Safety Flood Control District 310 318 324 333 338 339 347 350 354 358 Justice Courts Operating alert stations 23 23 23 25 25 25 25 26 26 26 Juvenile Courts 2 2 2 2 2 2 2 2 2 2 10,062 9,562 9,562 11,509 11,509 11,509 11,509 11,149 11,149 11,088 6 6 6 6 6 6 6 6 6 6 Miles of Road 5,557 5,205 5,420 5,232 5,284 5,267 5,244 5,383 5,386 5,378 Miles of road with paved surfaces 4,514 4,255 4,491 4,334 4,397 4,448 4,429 4,570 4,573 4,582 27 27 23 22 22 21 20 20 20 20 290 293 286 276 278 278 273 279 279 285 3 3 2 2 2 2 2 2 2 2 Number of public health facilities 2 2 2 2 2 2 2 2 20 21 Number of WIC facilities 2 2 2 2 2 2 2 2 15 15 6 6 6 6 6 6 6 6 6 6 Sheriff Inmate beds available (incl. portable) Number of jail facilities Highways and Streets Transportation Number of major bridges Number of total bridges Health, Welfare and Sanitation Animal Care and Control Number of animal shelters Public Health Solid Waste Management Number of transfer stations Culture and Recreation Library District Number of facilities owned 3 2 2 2 2 3 3 3 3 3 10 13 13 15 14 14 14 14 14 15 1 1 1 0 0 0 0 0 0 0 Regional county parks 9 9 9 9 9 9 9 9 9 9 County managed golf courses 3 3 3 3 3 3 3 3 3 Facilities operated Bookmobiles Parks and Recreation Total acres managed Conservation areas 118,754 119,185 119,257 119,257 119,257 119,257 119,257 119,257 119,257 3 119,257 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 Stadium District Major league baseball field (1) The number of Facilities Management owned buildings decreased significantly from fiscal year 2006 as various buildings were transferred from Facilities Management to the respective County department. Source: Various County Agencies. Note: Indicators for Education are not available. 288 MRJP www.maricopa.gov