2006 WIFA
Annual Report
Arizona’s water and wastewater funding source

i W I FA 2 0 0 6 A N N U A L R E P O R T

Report Contents
1
2
3
4-6
7
8
9
10
11
12
13-15
16

About Mission & Vision
Governor’s Message
Chairman’s Message
Goals and Performance Measures
2006 CWSRF Loan and Grant Awards
2005 CWSRF Loan and Grant Awards
2006 DWSRF Loan and Grant Awards
2005 DWSRF Loan and Grant Awards
Clean Water Fund Activity
Drinking Water Fund Activity
Statement of Financial Position
WIFA Board and Staff

August 10, 2006 WIFA Chairman Steve Owens and WIFA
Interim Executive Director Judy Navarrete present a WIFA
Project of the Year Award to the Town of Patagonia Mayor Gary
Gay. Pictured, from left to right, are Robert Welch with Stantec
Consulting, Judy Navarrete, Chairman Steve Owens, Mayor
Gary Gay, City Manager Randy Heiss and Richard Bigelow with
Stantec Consulting.

October 2, 2006 Governor Janet Napolitano, WIFA
Chairman Steve Owens and WIFA Interim Executive
Director Judy Navarrete presented a $577,578 WIFA check
to the Pineview Water Company.

1 W I FA 2 0 0 6 A N N U A L R E P O R T

About Mission & Vision
WIFA is an independent agency of the state of Arizona and is authorized to finance
the construction, rehabilitation and/or improvement of drinking water, wastewater,
wastewater reclamation, and other water quality facilities/projects. Generally, WIFA
offers borrowers below market interest on loans for one hundred percent of eligible
project costs.
As a “bond bank,” WIFA is able to issue water quality bonds on behalf of
communities for basic water infrastructure. Through active portfolio and financial
management, WIFA provides significant savings due to lower interest rates and
shared or reduced closing costs. WIFA is able to lower a borrower’s interest costs
to between seventy and one hundred percent of WIFA’s tax-exempt cost of
borrowing.
WIFA's principal tools for providing low interest financial assistance include the
Clean Water Revolving Fund for publicly held wastewater treatment projects and
the Drinking Water Revolving Fund for both publicly and privately held drinking
water systems. Both funds are capitalized by contributions from the state and the
U.S. Congress.
WIFA also manages a Technical Assistance (TA) program. The TA program offers
pre-design and design grants to all eligible wastewater and drinking water systems.
The purpose of the TA program is to enhance project readiness to proceed with a
WIFA project construction loan. Also, both pre-design and design loans are
available.

WIFA's mission is to maintain and improve water
quality in Arizona by providing financial assistance
and technical assistance for basic water
infrastructure.
On August 10, 2006, Town of Bisbee
Mayor Ron Ortele, Former Mayor Dan
Beauchamp and Former Mayor Lyle
Reddy participate in a ribbon cutting
ceremony to mark the grand opening
of the Town’s San Jose Wastewater
Treatment Plant. Bisbee utilized a
$11.2 million low-interest WIFA loan in
conjunction with five technical
assistance grants totaling $95,200.
WIFA also partnered with several
other funding entities to assist the
town in bringing its project to fruition.

Our vision at WIFA is to guide our resources to
communities with the greatest need to maintain and
enhance Arizona's quality of life.

2 W I FA 2 0 0 6 A N N U A L R E P O R T

STATE

OFFICE

OF

ARIZONA

OF THE

GOVERNOR

1700 WEST WASHINGTON STREET, PHOENIX, AZ 85007

JANET NAPOLITANO
GOVERNOR

MAIN PHONE: 602-542-4331
FACSIMILE: 602-542-7601

December 2006
Dear Members of the Legislature and Citizens of Arizona:
Protecting the state’s precious water resources and building the new Arizona economy are two of
my top priorities as Governor.
The Water Infrastructure Finance Authority of Arizona protects Arizona’s water and helps
communities develop the water infrastructure needed to grow and prosper. WIFA accomplishes its
mission through its financial and technical assistance programs that maintain and improve water
quality in Arizona.
WIFA is raising the bar in its contribution to Arizona’s economy. As a premier financial institution both
in Arizona and nationally, the agency originates over $100 million annually in community wastewater
and drinking water investments. Infrastructure projects are an economic investment in Arizona
because they bring jobs to local communities, help create the infrastructure for sustainable growth,
and provide long-term solutions to clean water and drinking water challenges.
The funds WIFA provides to Arizona’s communities have grown because of smart utilization of
WIFA’s federal allocations and sound management practices. This year, Arizona received an
increase in the Drinking Water State Revolving Fund capitalization grant from the U.S. Congress but
faced a major cut in its Clean Water State Revolving Fund allocation. I continue to fight for a
needs-based formula that accurately reflects our state’s clean water needs.
I offer my sincere appreciation to the WIFA Board Chairman Steve Owens, the WIFA Board of
Directors and the WIFA staff for their outstanding record of achievement and dedication to serving
Arizona’s communities. With appreciation of the key financial and environmental role it plays, WIFA
will continue to benefit our citizens by helping maintain and enhance Arizona’s natural resources,
public health and quality of life.

Yours very truly,

Janet Napolitano,
Governor

3 W I FA 2 0 0 6 A N N U A L R E P O R T

Chairman’s Message
As Director of the Arizona Department of Environmental Quality (ADEQ), I have the pleasure to
serve as chairman of the WIFA Board of Directors. The close partnership between ADEQ and WIFA
has enabled WIFA to effectively meet ongoing challenges faced by Arizona’s communities in
addressing their drinking water and wastewater needs including the federally mandated arsenic
standards, sustainable growth and infrastructure funding.
Providing Communities With Efficient Access to Financing
Governor Janet Napolitano signed into law House Bill 2159, making it easier for communities to
access low-interest financing for critical infrastructure. HB2159 allows cities, towns, domestic water
and domestic wastewater improvement districts with less than 50,000 people to enter into a loan
with the Authority without holding a bond election. This legislation allows critical infrastructure to be
developed more efficiently in communities throughout the state.
Helping Communities Meet Federal Arsenic Standard
In an effort to help communities meet the January 23, 2006 federal arsenic standard, WIFA and
ADEQ teamed up and continue to present workshops around the state and work with local water
providers. WIFA continues to make funding arsenic related projects a top priority. Those projects are
put at the top of the funding list and are moved through the funding process quickly and efficiently.
Meeting the Funding Challenges
Although Arizona has made significant strides in water quality, our continued ability to help
communities meet future water quality requirements is highly dependent on changing the state
revolving fund formula which is based on outdated 1970s population figures and infrastructure
needs.
In the past few years, SRF federal funding has been cut in half hitting growing states like Arizona
particularly hard. Since the inception of the SRF program, WIFA’s capitalization grant has been
reduced by 50%. The cuts have a negative impact on Arizona’s ability to meet the demand for new
infrastructure and improvements to existing systems. Arizona continues to receive less than our fair
share of federal dollars when it comes to clean water funding per capita. A consistent and more
accurate funding mechanism needs to be tied to the clean water SRF to ensure that states with the
greatest need are given the resources to meet that need .
In contrast to the issue with clean water funding, WIFA received a drinking water capitalization grant
award of $23 million, a $14 million increase over last year due to a major increase in identified
drinking water infrastructure needs in Arizona. This allows WIFA to continue to make arsenic
related projects a priority and guide them through the funding process more quickly so that water
systems can meet the new federal standard, as well as help communities deal with other pressing
drinking water infrastructure needs.
By providing communities with funding for critical drinking water and wastewater infrastructure,
WIFA plays an invaluable role in protecting Arizona’s precious water supplies, ensuring safe
drinking water and providing a foundation for sound growth across the state. WIFA’s
accomplishments this past year point to continued progress for WIFA and our state in the future.
Stephen A. Owens, Chairman

WIFA Board of Directors

4 W I FA 2 0 0 6 A N N U A L R E P O R T

Goals & Performance Measures
Goal 1: Award WIFA’s financial resources in accordance with the water quality needs of Arizona’s citizens.
As shown in Table 1, during Funding Cycle 2006, WIFA continued to provide financial assistance to a diverse number of
communities with varying levels of water quality and infrastructure needs. By balancing communities’ relative environmental
health and financial needs, WIFA was able to prioritize and expedite project funding in an efficient and timely manner.
Table 1
Projects Funded by Priority List Ranking
Clean Water Revolving Fund
Drinking Water Revolving Fund
FY05
FY06*
FY05
FY06**

Priority List Rank
Projects in Top 10
# of projects
$ of projects
Projects in Top 25 (Cumulative)
Cumulative # of projects
Cumulative $ of projects
Projects in Top 50 (Cumulative)
Cumulative # of projects
Cumulative $ of projects
Remainder of List
Cumulative # of projects
Cumulative $ of projects

3
$12,795,000

7
$110,577,085

3
$1,199,593

1
$1,926,100

5
$40,269,950

14
$211,327,221

8
$6,645,870

13
$29,045,131

9
$80,219,062

14
$211,327,221

11
$25,199,034

14
$61,885,771

9
$80,219,062

14
$211,327,221

13
$30,776,612

14
$61,885,771

* Clean Water program funded 14 of 38 priority list applicants.
** Drinking Water program funded 14 of 52 priority list applicants.

During Funding Cycle 2006, WIFA dedicated its resources to improving the water and wastewater infrastructure of cities,
towns, and tribes of all sizes throughout Arizona. Table 2 illustrates how WIFA dollars were disbursed to loan recipients by
population.
Table 2

Priority List Rank
Less than 2,500
# of projects
$ of projects
Between 2,501 & 5,000
# of projects
$ of projects
Between 5,001 & 10,000
# of projects
$ of projects
Above 10,001
# of projects
$ of projects

Projects Funded by Population Category
Clean Water Revolving Fund
Drinking Water Revolving Fund
FY05
FY06
FY05
FY06
0
$0

0
$0

5
$1,068,947

4
$525,841

3
$39,874,950

3
$16,830,000

3
$3,658,604

3
$5,106,546

0
$0

1
$4,500,000

3
$9,702,461

0
$0

6
$40,344,122

10
$189,997,221

2
$16,346,600

7
$56,253,384

A vital measure of the benefit WIFA loans provide to communities throughout Arizona is the savings to tax/rate payers when
compared to traditional market financing. In Funding Cycle 2006, WIFA’s below-market interest rates and reduced closing
costs will save Arizona communities an estimated $30.5 million over the term of the loans. Since the inception of the Authority,
WIFA conservatively estimates a total savings of $238.5 million to tax/rate payers.

5 W I FA 2 0 0 6 A N N U A L R E P O R T

Goals & Performance Measures
Goal 2: Manage WIFA’s loan and bond portfolio and maintain WIFA’s fiscal integrity to meet the water quality
funding needs of Arizona’s future
Figure 1: Income By Fiscal Year
generations.
$12
Millions (dollars)

In addition to maintaining fiscal integrity, WIFA
invests its monies to ensure the fund’s growth
keeps pace with inflation. Total non-program
earnings increased by approximately $1.65
million, or 17.28% during Fiscal Year 2006 as
shown in Figure 1. WIFA loan interest
revenues increased by 18.8% from the
previous year. Loan fees increased by
39.48%.

$10
$8
$6
$4
$2
$0
Non-program
Revenues

Loan Interest
Type of Incom e

Loan Fees
FY05
FY06

Further evidence of WIFA’s commitment to
preserve and grow the funds is shown in WIFA’s Statement of
Financial Position (pages 11-13).
Figure 2: Funds Invested
Millions (dollars)

Figure 2 reflects an increase in WIFA’s investment portfolio,
which provides funds for a myriad of uses by the Authority. The
dollars invested are primarily used to originate loans to WIFA
borrowers as well as provide additional security to our bond
portfolio. Additionally, interest generated from the invested
funds helps subsidize WIFA borrower interest
rates.

$400
$300
$200
$100
$0
FY05

FY06
Fiscal Year

Goal 3: Deliver technical and financial assistance to Arizona communities in an efficient and accessible manner.
The number of loan disbursements and the amount of loan disbursements by WIFA are shown in Figure 3 and Figure 4. The
dollar amount disbursed increased from the previous fiscal year. In 2006, WIFA disbursed $117,171,642, roughly a $16.7
million dollar increase as compared to 2005.

200
180
FY05

FY06
Fiscal Year

Figure 4: Amounts Disbursed
Millions (dollars)

Number

Figure 3: Number of Loan
Disbursements
$110
$60
$10

FY05

FY06
Fiscal Year

6 W I FA 2 0 0 6 A N N U A L R E P O R T

Goals & Performance Measures
During Funding Cycle 2006, WIFA
provided financial assistance to a
diverse portfolio of borrowers. The
presence of strong borrowers within the
portfolio
benefits
all
program
participants.

$250.0
Millions (dollars)

As shown in Figure 5, WIFA provided
fewer loans in Funding Cycle 2006 to
borrowers with strong credit ratings as
compared to those who had no credit
rating at all.

Figure 5: Funding Cycle '06 Loans by Rating Category
$273.2M

$200.0
$150.0
$100.0
$50.0
$0.0
A Rated (4 loans)
$215.4 M

B Rated (1 loan)
$37.8 M

Unrated (19 loans)
$20.0 M

Goal 4: Work cooperatively with other agencies, commissions, authorities, associations, and
non-profits to address water quality needs throughout the State of Arizona.
WIFA seeks to reduce operating expenses and secure
services from those qualified to provide that service at
the least cost. Figure 6 shows the allocation of
operating expenditures.
For Fiscal Year 2006 (July 2006 – June 2007), the WIFA
Board adopted an operating budget of $1,662,019. This is an
approximately 3% reduction from the approved Fiscal Year
2005 budget of $1,712,685. WIFA continues to operate at
levels substantially below its budget authority as indicated in
Figure 7.

Figure 6: Operating Expenditures (actual) FY 06-$1,170,073
Equipment
Overhead
1%
4%
Operating
12%
Travel
2%
Contracts
11%

Personnel
54%

Benefits
16%

Figure 7: Budget Compared to Expenditures

Budget

Millions (dollars)

$2

Expenditures

$1

$0
FY05

FY06

7 W I FA 2 0 0 6 A N N U A L R E P O R T

2006 Clean Water Revolving Loan Fund
Loan & Grant Awards
Funding Cycle 2006 Activity
Financial Assistance Projects
2006 Awards January 2006 – December 2006
Bullhead City
Camp Verde Sanitary District
Cave Creek, Town of
Chino Valley, Town of
El Mirage, City of
Lake Havasu City
Peoria, City of
Pima County (5 Projects)
Tucson, City of
Williams, City of
Total 2006 Financial Assistance Projects
Technical Assistance Projects
2005 Awards July 2005 – June 2006
Bisbee, City of
Buckskin Sanitary District
Clarkdale, Town of
El Mirage, City of
Fawn Brook Domestic Wastewater Improvement District
Miami, Town of
Mogollon Domestic Wastewater Improvement District
Quartzsite, Town of
Virgin River Domestic Wastewater Improvement District
Total 2005 Technical Assistance Projects

$ 37,813,174
4,500,000
7,000,000
1,580,000
1,108,911
61,575,000
78,500,136
8,500,000
2,500,000
8,250,000
$ 211,327,221

$

$

7,500
30,000
35,000
30,000
35,000
12,500
20,000
25,000
35,000
230,000

8 W I FA 2 0 0 6 A N N U A L R E P O R T

2005 Clean Water Revolving Loan Fund
Loan & Grant Awards
Funding Cycle 2005 Activity
Financial Assistance Projects
2005 Awards January 2005 – December 2005
Country Roads Improvement District
Flagstaff, City of
Florence, Town of
Lake Havasu City
Pima County
Queen Creek, Town of
Taylor, Town of
Total 2005 Financial Assistance Projects
Technical Assistance Projects
2006 Awards July 2006 – June 2007
Ash Fork Sanitary District
Bullhead City, City of
Camp Verde, Town of
Chino Valley, Town of
Ehrenberg Improvement Association
Fort Mojave Tribal Utility Authority
Holbrook, City of
Kingman, City of
Mayer Domestic Water Improvement District
Oro Valley, Town of
Queen Valley Sanitary District
San Luis, City of
Winkelman, Town of
Total 2006 Technical Assistance Projects

$

4,374,950
23,100,000
1,000,000
6,220,000
1,952,112
34,000,000
1,500,000
$ 72,147,062

$

$

15,000
35,000
35,000
35,000
12,500
17,500
9,356
30,900
35,000
35,000
35,000
35,000
22,500
352,756

9 W I FA 2 0 0 6 A N N U A L R E P O R T

2006 Drinking Water Revolving Loan Fund
Loan & Grant Awards
Funding Cycle 2006 Activity
Financial Assistance Projects
2006 Awards January 2006 – December 2006
Abra Water Company
Clear Springs Utilities
El Mirage, City of
Flagstaff, City of
Las Quintas Serenas Water Company
Oak Creek Utility Corporation
Peoria, City of
Tacna Water Company
Tucson, City of (4 Projects)
Valley Utilities Company
Williams, City of
Total 2006 Financial Assistance Projects
Technical Assistance Projects
2006 Awards July 2006 – June 2007
Antelope Peak Domestic Water Improvement District
Diamond Valley Water Users Corporation
Duncan, Town of
East Slope Water Company
Flowing Wells Irrigation District
Gila County
Grand Canyon Caverns and Inn, LLC
Green Valley Domestic Water Improvement District
Havasu Heights Domestic Water Improvement District
Highland Pines Domestic Water Improvement District
Mammoth, Town of
Park Water Company
Picacho Water Improvement Corporation
Ponderosa Park Domestic Water Improvement District
Valle Escondido Domestic Water Improvement District
Total 2006 Technical Assistance Projects

$

250,000
40,640
16,553,384
15,000,000
1,580,446
40,000
16,200,000
195,201
8,500,000
1,926,100
1,600,000
$ 61,885,771

$

$

31,500
35,000
22,383
35,000
16,250
26,250
35,000
18,700
22,500
12,500
21,875
15,000
35,000
9,750
35,000
371,708

1 0 W I FA 2 0 0 6 A N N U A L R E P O R T

2005 Drinking Water Revolving Loan Fund
Loan & Grant Awards
Funding Cycle 2005 Activity
Financial Assistance Projects
2005 Awards January 2005 – December 2005
Beaver Dam Water Company
Flowing Wells Irrigation District
Globe, City of
Green Valley Domestic Water Improvement District
Metropolitan Domestic Water Improvement District
Mountain Glen Water Service
North Mohave Valley Corporation
Pineview Water Company
Valencia Water Company
Water Utilities Community Facilities District
Water Utility of Greater Buckeye
Water Utility of Greater Tonopah
Woodruff Domestic Water Improvement District
Total 2005 Financial Assistance Projects
Technical Assistance Projects
2005 Awards July 2005 – June 2006
Camp Verde Water System
Cosanti Foundation
Double G Mobile Park
Groom Creek Water Users Association
Jerome, Town of
Marana Domestic Water Improvement District
Maricopa Mountain Water Company
Naco Water Company
Patagonia, Town of
Rainbow Acres
Somerton, City of
St. Johns, City of
Thunderbird Farms Domestic Water Improvement District
Village of Moencopi (Lower)
Water Utility of Greater Buckeye
Water Utility of Greater Tonopah
Williams, City of
Total 2005 Technical Assistance Projects

$

170,703
966,600
5,000,000
1,700,000
15,380,000
182,993
250,000
577,578
2,831,026
3,002,461
165,251
500,000
50,000
$ 30,776,612

$

$

26,250
22,500
7,500
7,500
30,000
1,617
20,000
35,000
35,000
26,250
35,000
35,000
21,000
10,000
3,750
11,250
35,000
362,617

1 1 W I FA 2 0 0 6 A N N U A L R E P O R T

Clean Water Fund Activity

1 2 W I FA 2 0 0 6 A N N U A L R E P O R T

Drinking Water Fund Activity

1 3 W I FA 2 0 0 6 A N N U A L R E P O R T

Statement of Financial Position
Assets
During Fiscal Year 2006, WIFA’s assets increased by $217.7 million over Fiscal Year 2005. This is attributed to a
$205 million bond issue and an increase in the amount of loans awarded.

WIFA's Assets -- $ 714.8M
FY 05
Receivables
& Capital
Assets
1%

WIFA's Assets -- $ 932.4M
FY 06

Cash &
Investments
21%

Receivables &
Capital Assets
2%

Reserves
10%

Cash &
Investments
32%

Reserves
10%

Loans
68%

Loans

57%
Liabilities
WIFA”s liabilities increased from the previous year by $187.3 million. This was primarily due to a $205 million bond
issue that increased WIFA’s of long-term debt obligations.

WIFA's Liabilities -- $432.4 M
FY 05

WIFA's Liabilities -- $ 619.6M
FY 06
Long Term
Liabilities
93%

Long T erm
Liabilities
92%

Short T erm
Liabilities
8%

Short Term
Liabilities
7%

Net Assets
WIFA’s net assets continue to grow rapidly. In 2004, net assets were $271.7 million. By fiscal year 2005, net assets
reached $282.4 million. This year, net assets grew to $312.8 million.

WIFA's Net Assets -- $ 282.4M
FY 05

Restricted Net
Assets
83%

WIFA's Net Assets -- $ 312.8M
FY 06

Restricted Net
Assets
86%

Unrestricted
Net Assets
17%

Unrestricted
Net Assets
14%

1 4 W I FA 2 0 0 6 A N N U A L R E P O R T

Statement of Financial Position
ASSETS
Cash
Investments
Accrued Interest Receivable
Capital Assets (net of depreciation)
Debt Management Fees Receivable
Loans
Deferred Bond Issue Costs
TOTAL ASSETS

FY05
$147,746,319
68,081,810
5,339,462
11,728
2,109,805
489,071,853
2,406,168
$714,767,145

FY06
$262,210,416
80,895,835
7,671,073
7,818
3,103,038
574,935,091
3,539,975
$932,363,246

LIABILITIES AND NET ASSETS
LIABILITIES
Accrued Payroll
Compensated Absences
Interest Payable
Bonds Payable
Unamortized Bond Premiums
Deferred Amount on Retired Bonds
Loan Reserve
TOTAL LIABILITIES

15,662
26,014
5,027,882
405,675,000
28,206,089
(8,608,526)
2,022,108
$432,364,229

35,156
58,600
5,112,384
582,560,000
37,479,997
(8,034,436)
2,354,733
$619,566,434

NET ASSETS
Net assets invested in capital assets
Restricted for capitalization grants
Unrestricted
TOTAL NET ASSETS

11,728
240,079,736
42,311,457
$282,402,921

7,818
261,156,467
51,632,527
$312,796,812

TOTAL LIABILITIES AND NET ASSETS

$714,767,150

$932,363,246

1 5 W I FA 2 0 0 6 A N N U A L R E P O R T

Statement of Financial Position
STATEMENT OF REVENUES, EXPENSES,
AND CHANGES IN FUND NET ASSETS
PROGRAM REVENUES
Interest Income
Debt Management Fees
TOTAL PROGRAM REVENUE

FY05
$9,287,547
5,474,743
$14,762,290

FY06
$11,033,742
7,636,139
$18,669,881

PROGRAM EXPENSES
Interest Expense
Depreciation
Administration & Set Asides
Hardship Grant Expense
Financial Assistance
TTechnical Assistance
TOTAL EXPENSES

$17,884,713
3,910
2,448,673
0
180,374
519,062
$21,036,732

$17,397,886
3,910
2,611,751
0
121,161
420,071
$20,554,779

NET INCOME

($6,274,442)

($1,884,898)

NONPROGRAM REVENUES
Adminstrative Grants
Investments Earnings
Total Nonprogram Revenues

$971,462
8,579,906
$9,551,368

$1,181,262
10,020,796
$11,202,058

INCOME BEFORE CONTRIBUTIONS

$3,276,926

$9,317,160

CONTRIBUTED CAPITAL - FEDERAL
CONTRIBUTED CAPITAL - STATE
CHANGE IN NET ASSETS

$5,031,684
2,445,100
$10,753,710

$18,631,631
2,445,100
$30,393,891

$271,649,211
$282,402,921

$282,402,921
$312,796,812

TOTAL NET ASSETS - Beginning of Year
TOTAL NET ASSETS - End of year

The financial statements for WIFA for the year ending June 30, 2006 have been audited by an independent certified
public accounting firm, Henry & Horne, P.C. Copies of the complete audited financial statements are available at
the WIFA website, www.azwifa.gov.

1 6 W I FA 2 0 0 6 A N N U A L R E P O R T

WIFA Board & Staff
WIFA Board of Directors
Stephen A. Owens
Chairman
Gerald (Jerry) Flannery
Cities > 50,000 and Counties > 500,000
WIFA Staff

Paul T. Gardner
Water Systems >500 Customers

Judy Navarrete
Interim Executive Director

William Garfield
Water Systems < 500 Customers

Jon Bernreuter
Environmental Program Specialist

Mayor Stanley Gibson
Cities < 50,000 People

Brian Davis
Loan Officer

Appointment in Process
Sanitary Districts from Counties < 500,000

Julie Flores
Financial Analyst

Seth Mones, Deputy Director
Arizona Dept of Commerce

Ruby Hernandez
Administrative Secretary

Steve Olea
Arizona Corporation Commission

Angelica Martinez
Processing Loan Specialist

Cynthia Seelhammer
Counties > 500,000 Population

Yolanda Mendoza
Administrative Assistant

Karen Smith
Arizona Dept of Water Resources

Mark A. Ramirez, Sr.
Systems Analyst

Alberta Tippeconnic
Tribal Representative

Dennis Schiefen
Network Administrator

E. Blaine Vance
Treasurer’s Office

Don States
Controller
Yolanda Mendoza,
Assistant to the
Executive Director,
organized last year’s
SECC campaign at
WIFA. Thanks for
involving WIFA staff
in
this
valuable
community project!

Tiffany N. Troidl
Communications Director
Laurie Tsosie
Environmental Coordinator
Angie Valenzuela
Senior Loan Officer
Lily Vega
Business Manager