Annual Comprehensive Financial Report 2000s 2010s 1940s FOR THE FISCAL YEAR ENDED JUNE 30, 2022 City of Goodyear, Arizona Finance Department 1970s CITY OF GOODYEAR ANNUAL COMPREHENSIVE FINANCIAL REPORT For the Year Ended June 30, 2022 Table of Contents I. INTRODUCTORY SECTION Letter of Transmittal GFOA Certificate of Achievement City of Goodyear Officials Organizational Chart Page 1 7 8 9 II. FINANCIAL SECTION Independent Auditors’ Report 11 A. Management’s Discussion & Analysis 15 B. Basic Financial Statements 29 Government-wide Financial Statements Statement of Net Position Statement of Activities 33 34 Fund Financial Statements Governmental Fund Financial Statements Balance Sheet Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 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 38 41 42 45 Proprietary Fund Financial Statements Statement of Net Position Statement of Revenues, Expenses and Changes in Fund Net Position Statement of Cash Flows 46 47 48 Fiduciary Fund Financial Statements Statement of Fiduciary Net Position Statement of Changes in Fiduciary Net Position 49 50 Notes to the Financial Statements 1. Summary of Significant Accounting Policies 2. Cash and Investments 3. Receivables 4. Capital Assets 5. Leases 6. Loan Payable 7. General Obligation Bonds Payable 8. Revenue Bonds Payable 9. Community Facilities Districts Bonds Payable 10. Changes in Long-term Liabilities 11. Interfund Receivables, Payables, and Transfers 12. Contingent Liabilities 13. Risk Management 14. Pensions and Other Postemployment Benefits 15. Excess of Expenditures Over Appropriations 16. Fund Balance Classifications 17. Deficit Fund Balances 18. Commitments 19. Tax Abatement Agreements 20. Restatement of Net Position Page 53 64 67 68 69 70 71 72 74 75 76 77 77 78 91 91 91 92 93 94 C. Required Supplementary Information Schedule of Revenues, Expenditures, and Changes in Fund BalanceBudget to Actual General Fund Notes to Budget and Actual Schedules Schedule of the Proportionate Share of the Net Pension Liability Schedule of the Proportionate Share of the Net OPEB Liability Schedule of Changes in the Net Pension Liability and Related Ratios Schedule of Changes in the Net OPEB Liability and Related Ratios Schedule of Pension/OPEB Contributions Notes to the Pension/OPEB Plan Schedules 96 98 100 102 104 108 110 114 D. Other Supplementary Information Budgetary Comparison Schedules – Major Governmental Funds Non-Utility Development Impact Fees – Capital Projects GO Bonds – Capital Projects McDowell Road Commercial Corridor ID – Debt Service Community Facilities Districts – Debt Service 117 118 119 120 Non-Major Governmental Funds – Financial Statements Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 122 124 Budgetary Comparison Schedules – Non-Major Governmental Funds Page Highway User Revenue Community Facilities Districts - General Office of Tourism Prop 302 Grants Ball Park Debt Service 126 127 128 129 130 131 Budgetary Comparison Schedules – Other Governmental Funds Park and Ride Marquee Court Enhancement Fill-The-Gap JCEF Impound AZ Smart and Safe Officer Safety Equipment 134 135 136 137 138 139 140 Budgetary Comparison Schedules – Enterprise Funds Water & Wastewater Enterprise Fund Sanitation Enterprise Fund III. STATISTICAL SECTION Net Position by Component Changes in Net Position Governmental Activities Tax Revenues by Source Excise Tax Collections Sales & Use Taxes Fund Balances of Governmental Funds Changes in Fund Balances of Governmental Funds Property Tax Rates Principal Property Taxpayers Assessed Value and Estimated Actual Value of Taxable Property Property Tax Levies and Collections Utility Statistical Data Ten Largest Water Users Utility Statistical Data Ten Largest Wastewater Users Schedule of Existing and Adopted Monthly Water & Wastewater Service Charges Ratios of Outstanding Debt by Type Ratios of General Bonded Debt Outstanding Direct and Overlapping Governmental Activities Debt Legal Debt Margin Information Pledged Revenue Coverage 141 142 Table Page 1 2 3 4 5 6 7 8 9 10 11 12 13 144 146 153 154 156 158 160 164 169 170 172 173 175 14 15 16 17 18 19 176 178 180 181 182 184 Demographic and Economic Statistics Principal Employers Full-Time Equivalent City Government Employees by Function Operating Indicators by Function Capital Asset Statistics by Function Table Page 20 21 22 23 24 185 186 187 188 192 IV. FEDERAL AND STATE REPORTS Independent Auditors Report on Internal Control over Financial Reporting and on Compliance and Other Matters Report on Compliance with State Laws and Regulations 195 197 City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 INTRODUCTORY SECTION INTRODUCTORY SECTION The Introductory Section includes the City’s Transmittal Letter, the Certificate of Achievement for Excellence in Financial Reporting, List of Principal Officials, and the City’s Organizational Chart. CityofGoodyear FinanceDepartment  November21,2022  HonorableMayor,CityCouncil,CityManager,andCitizensoftheCityofGoodyear,Arizona:  State law requires that a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards(GAAS)byafirmoflicensedcertifiedpublicaccountantsbepublishedannuallybycitiesafter thecloseofeachfiscalyear.Pursuanttothatrequirement,weherebyissuetheAnnualComprehensive FinancialReport(ACFR)totheCityofGoodyear,Arizona(City)forthefiscalyearendedJune30,2022.  Managementassumesfullresponsibilityforthecompletenessandreliabilityoftheinformationcontained inthisreport,baseduponacomprehensiveframeworkofinternalcontrolthatithasestablishedforthis purpose.Becausethecostofinternalcontrolshouldnotexceedanticipatedbenefits,theobjectiveisto provide reasonable, rather than absolute, assurance that the financial statements are free from any materialmisstatements.  This document represents management’s report to its governing body, constituents, legislative and oversightbodies,investors,andcreditors.Copiesofthisreportwillbemadeavailabletoelectedofficials, management personnel, bond rating agencies, Municipal Securities Rulemaking Board’s Electronic MunicipalMarketAccesssystem(EMMA),andotheragencieswhichhaveexpressedinterestinthecity’s financialmatters.Copiesofthisfinancialreportwillbeplacedonthecity’swebsiteforusebythegeneral public.  The accounting firm of HintonBurdick, PLLC, Certified Public Accountants, an independent public accounting firm, performed the city’s annual financial statement audit. The auditors have issued an unmodified(“clean”)opinionoftheCityofGoodyear’sfinancialstatementsforthefiscalyearendedJune 30,2022.Theindependentauditor’sreportislocatedatthefrontofthefinancialsectionofthisreport.  Management’sdiscussionandanalysis(MD&A)immediatelyfollowstheindependentauditor’sreporton pages 15Ͳ28 and provides a narrative introduction, overview, and analysis of the basic financial statements.MD&Acomplementsthisletteroftransmittalandshouldbereadinconjunctionwithit.  CITYOFGOODYEARPROFILE  TheCityofGoodyear,incorporatedin1946andcharteredin1988,startedasasmalltowncultivating cottonfortheproductionofrubbertiresduringWorldWarI.Locatedapproximately17mileswestofthe downtown Phoenix business district, Goodyear has sustained continued growth and currently encompasses approximately 191 square miles in the western portion of Maricopa County. The city’s growth is attributable to excellent transportation corridors, convenient access to the central valley, a  1900 N Civic Square goodyearaz.gov Goodyear, AZ 85395 Page 1 varietyofhousingoptions,asenseofcommunityandoutstandingschooldistricts.Fiscalyear2022began withanestimatedpopulationof101,662,accordingtotheMaricopaAssociationofGovernments(MAG).  GoodyearhasaCouncil/ManagerformofgovernmentconsistingoftheMayorandsixcouncilmembers. TheMayorandcouncilmembersareelectedatͲlargetostaggeredfourͲyearterms.TheCityCouncilis vestedwithpolicyandlegislativeauthorityandisresponsibleforpassingordinances,adoptingthebudget, appointingcommittee,commission,andboardmembers,andappointingthepositionsofCityManager, CityAttorney,andCityJudge.TheCityManagerisresponsibleforcarryingoutthepoliciesandordinances oftheCityCouncil,aswellasoverseeingthedayͲtoͲdayoperationsofthecity.  Infiscalyear2022astaffof837.15fullͲtimeequivalentauthorizedemployeesworkingwithin15different departments performed the various functions of Goodyear’s city government. The city provides a full range of municipal services, including police, fire, residential sanitation, water, wastewater, streets, recreational programs, parks, cultural events, public transportation, planning and zoning, and general administrative services. Goodyear offers a wide range of community facilities including the Goodyear Ballpark,library,communitycenter,swimmingpool,and18parksencompassing206acres.Inaddition, GoodyearcontinuestoattractmajoremployerswithitslocationalongInterstate10andStateRoute303, availabilityofland,accesstotheentireregion,andavailablecommercialspace.  FINANCIALCONTROLS  InternalControls  The management of the City of Goodyear is responsible for establishing and maintaining a system of internal controls. Internal accounting controls are designed to provide reasonable, but not absolute, assuranceregarding:1)thesafeguardingofassetsagainstlossfromunauthorizeduseordisposition,and 2)thereliabilityoffinancialrecordsforpreparingfinancialstatementsandmaintainingaccountabilityfor assets.Theconceptofreasonableassurancerecognizes:1)thecostofacontrolshouldnotexceedthe benefitslikelytobederived,and2)thevaluationofcostsandbenefitsrequiresestimatesandjudgments bymanagement.  Thesystemofinternalcontrolissubjecttoperiodicevaluationbymanagementandisalsoconsideredby theindependentauditorsinconnectionwiththeannualauditofthecity’sfinancialstatements.Allinternal control evaluations occur within the above framework. The city’s internal accounting controls are considered to adequately safeguard assets and provide reasonable assurance of proper recording of financialtransactions.  BudgetaryControls  TheCityofGoodyear,likeallcitiesintheStateofArizona,issubjecttonumerousbudgetandrelatedlegal requirements.ArticleIX,Section20(1)oftheArizonaConstitutionsetslimitsonthecity’slegalbudget capacity. At a general election held on March 11, 2003, citizens of Goodyear approved a permanent adjustmentofthe1979expenditurebaseforpopulationandinflationgrowth.Thecitymayutilizethe additionalexpenditureauthorityforanylocalbudgetarypurposes.Thepermanentadjustmenteliminated theneedforvoterapprovalofHomeRuleeveryfouryears.  190 N Litchfield Road goodyearaz.gov Goodyear, AZ 85338 P 623-882-7897 F 623-937-3003 Page 2  Thecitymaintainsbudgetarycontrolstoensurecompliancewithlegalprovisionsembodiedintheannual appropriatedbudgetapprovedbytheMayorandCouncil.Activitiesofthegeneralfund,specialrevenue funds,debtservicefunds,capitalprojectsfunds,enterprisefunds,andinternalservicefundareincluded in the annual appropriated budget. The legal level of budgetary control (i.e., the level at which expenditurescannotlegallyexceedtheappropriatedamount)isthetotalbudget,asadoptedbytheCity Council.AllfundsoftheCityhavelegallyadoptedbudgets.Theinitialbudgetforthefiscalyearmaybe amendedduringtheyearinalegallypermissiblemanner.TheCityadoptsthebudgetbymajorprogram area for the General Fund and by fund for all others.  The City Council has adopted a specific budget transfer policy which delegates the authority to perform many transfers to the City Manager or appropriatedesignee.TheCityManagerisgenerallyauthorizedtotransferbudgetedamountswithinany specificdepartment’sexpenditureappropriationaswellastransferswhichareconsideredadministrative innature.Generally,budgetrevisionsrequiringatransferbetweenmajorprogramareasintheGeneral Fund,fromCityreserves/contingenciesoratransferbetweenfundsmustbeapprovedbytheCityCouncil. In addition to maintaining budgetary control via a formal appropriation, the city maintains an encumbranceaccountingsystem.Encumbrancesaremadeagainstappropriationsupontheissuanceofa purchaseorder.EncumberedappropriationslapseatfiscalyearͲendandarereͲencumberedasneededin thenextfiscalyear.  LOCALECONOMICCONDITIONANDOUTLOOK  ConstructionactivitywithintheCitycontinuestobeamajordriverimpactinglocalrevenuegrowth.While itappearsfromasocietalstandpointtheworstoftheCoronaviruspandemicisbehindus,we’restillvery much dealing with the economic unpredictability not just in Goodyear but across the country. New challengesincludewidespreadlaborshortages,supplychaindisruptions,andinflationratesnotseenin over40years.Despitethesechallenges,thecityofGoodyearandMaricopaCountycontinuetoseestrong growthandongoingconstructionactivity.  PermitsforsingleͲfamilyhousingarestillbeingissuedathighlevels,butaredowncomparedtoprioryear activitydueinlargeparttoalackofbuildablelotsandextendedconstructiondevelopmentcyclesrelated tothechallengesstatedabove.Despitethesebottlenecks,ourcitycontinuestobenefitfromgrowth.In additiontoourresidentialgrowth,newbusinessescontinuetolocateinGoodyearexpandingouroneͲ timerevenuesthroughpermitfees,constructionsalestaxes,andusetaxonequipment.Oncecompleted thesenewandexpandingbusinessesbegintogenerateongoingsalesandpropertytaxesforthecity,as wellaslocaljobsforourresidents,whichinturnincreasesourstatesharedrevenues.  SalesTax  Goodyear, like all Arizona cities, places significant reliance on city sales tax revenues.  Fueled by local growth,salestaxrevenuescontinuetoincreaseyearoveryear.Salestaxrevenuesforfiscalyear2022 increasedby13%overfiscalyear2021levels.Withtheexceptionofonlinepurchases,allmajorcategories oflocalsalestaxexceededtheprioryear’scollections.Thedecreaseinonlinepurchasecollectionswere more than offset by increases in retail and restaurant categories as consumer spending patterns normalizedaftertheliftingofallcoronavirusrelatedrestrictions.   190 N Litchfield Road goodyearaz.gov Goodyear, AZ 85338 P 623-882-7897 F 623-937-3003 Page 3 StateSharedRevenues  ThecityreceivesrevenueallocationsfromtheState.Thesestatesharedrevenuesincludeallocationsof thestateincometax,salestax,fueltax,andmotorvehiclelicensetax.Asignificantportionofthisrevenue isplacedinthecity’sgeneralfundwhereitisusedtosupportdayͲtoͲdayactivities.Thecity’sstateshared revenues represented 17% of the general fund, general revenue for fiscal year 2022.  This increase is attributabletothegrowthoftheCity,resultinginahigherallocationpercentage,andahealthyeconomy statewide,increasingthetotalamountofsharedrevenues.But,itshouldbenotedthattherewereseveral otherfactorsthataffectedthisyear'scollectionsappearingmoremoderate,includingfederaltaxchanges effective in 2019 that increased subsequent state tax liabilities. However, the main reason for the moderateincreaseisrelatedtotheincometaxfilingextensiongrantedin2020asaresultoftheCOVIDͲ 19pandemic.ThefilingextensionmovedtheduedatefromApril2020toJuly2020.Incometaxrevenue is shared on a twoͲyear delay.  Therefore, distributions for FY2022 are based on actual income tax collectionsreceivedbytheArizonaDepartmentofRevenueduringFY2020.Theresultisasignificantshift inurbanrevenuesharing(stateincometax)revenuesfromFY22toFY23,withFY22appearingartificially lowerandFY23appearingartificiallyhigher.Thiswasanisolated,oneͲtimeevent,withthetimingissue correctingitselfinFY24.  PropertyTax  Thecontinuedconstructionactivityhashadapositiveimpactonpropertytaxcollections,aswell.For fiscalyear2022,thecity’scombined(primaryandsecondary)propertytaxrateincreasedslightlyfrom $1.7335to$1.7350per$100ofassessedvaluation.Propertytaxcollections,however,increasedbymore than$2.3millionduetoanincreaseintheoverallvaluationfueledbyconstructionthroughouttheCity. Thenearstaticrateandincreasingpropertyvaluationsensuresthecity’sabilitytoserviceoutstanding debtandmaintainbasicinfrastructure.  Forthefiscalyear2023budget,theMayorandCouncilhaveadoptedatotalcombinedpropertytaxrate of $1.7350 per $100 of assessed valuation, which represents no change from fiscal year 2022. In accordancewithitsbudgetpolicies,theCityisbelowthetargetedcombinedpropertytaxrateof$1.74 per$100ofassessedvaluationorless.  LONGͲTERMFINANCIALPLANNING  Onanannualbasis,theCityCouncilreviewsprogressanddeterminesprioritiesfortheCity’slongͲterm strategicplan.Anynewfundingrequestsareevaluatedinthecontextoftheirrelationshiptothestrategic focusareas.TheCityofGoodyear’smissionisasfollows:  TheCityofGoodyearwillprovidethefinestmunicipalservicesandpromoteaqualityenvironment to enhance our community’s prosperity through citizen and employee participation. We are committedtothestewardshipofresourcesandfulfillmentofthepublictrust.  FourfocusprioritiesareidentifiedwithintheStrategicActionPlan:   190 N Litchfield Road goodyearaz.gov Goodyear, AZ 85338 P 623-882-7897 F 623-937-3003 Page 4 1.FiscalandResourceManagement:MaintainingalongͲtermview,wemanageourfiscal,human,and physicalresourcesinanefficientandeffectivemanner.Thiseffortisalignedacrosstheorganization withanemphasisontransparency.Thecity’sbusinesspracticeswillbeefficient,businessfriendly,and ensureexceptionalcustomerservicetoallstakeholdersandcitizens.  2. Economic Vitality:   We will continue to ensure the prosperity of our community by increasing the growth of our economy through diversity of industry, business investment, quality job creation, education, and tourism.  To support this growing economy, we will invest in transportation and infrastructureandseekhighqualityretailandentertainmentopportunities.  3.SenseofCommunity:Thecitywillcultivateasenseofpridethroughprograms,gatheringplaces,and events where the community can come together to participate in opportunities of learning and recreation.  We will continue to make Goodyear residents feel connected to their city government throughcommunityengagement,outstandingcustomerservice,andclear,accessiblecommunication.  4.QualityofLife:WewillcontinuetomakeGoodyearaplacetolive,work,andplaythatprovidesdiverse activities and amenities in a safe and wellͲmaintained environment, while supporting the arts and promotingthehealthandwellnessofourcommunity.  TheStrategicActionPlanestablishesaroadmapofkeystrategicinitiativesthatbestadvancethevision forthecityandisalignedwithotherplanningdocumentsusedbythecity,includingdepartmentalplans (which include specific strategic plans, master plans, and operational plans) which guide department prioritiesandindividualemployeeperformanceevaluationgoals.Foreachofthesefourfocuspriorities, longͲrangegoalshavebeenidentifiedandassignedtovariousdepartmentsforfollowͲup.Thesepriorities arealsoakeyfundamentalfactorinthedevelopmentofthecity’sannualbudget.Withineachofthefour focus areas, Goodyear City Council has adopted Guiding Principles to inform the way city business is carriedoutacrosstheentireorganization.  MAJORINITIATIVES  Goodyear is an awardͲwinning community that provides a high quality of life with its masterͲplanned communities, excellent schools, health care, trail systems and entertainment options, including major leaguesportsvenues. x Goodyear was named by the U.S. Census Bureau to the Top 10 Fastest Growing Cities in the Nation. x The most recent Citizen Satisfaction Survey revealed that 95% of residents surveyed rated GoodyearasanexcellentͲgoodplacetoliveand9in10residentswouldrecommendandremain inGoodyear. x Moneymagazineand24/7WallSt.bothratedGoodyearoneofthe“BestPlacestoLive.” x MovotorankedGoodyearinitstop10for“BestPlacesNearPhoenixforYoungProfessionals”and “BestPhoenixSuburbforYoungCouples.” x ANerdWalletstudyrankedGoodyearasoneofthebestcitiesinthenationforveterans,based onthelevelofeconomicopportunityforveterans.   190 N Litchfield Road goodyearaz.gov Goodyear, AZ 85338 P 623-882-7897 F 623-937-3003 Page 5 During fiscal year 2022, the city finalized the construction of the Goodyear Recreation Campus that includes a 30Ͳacre park, recreation center, and an aquatics facility which opened on July 3, 2021. Additionally,thecitynearlyfinalizedtheconstructionoftheGoodyearCivicSquareatGSQ,whichopened onJuly18,2022.Thispublic/privatepartnershipincludes100,000squarefeetofClassAofficespacein additiontoalibrary,cityhall,andpublicpark.OtherprojectsofsignificancefundedinFY2022includethe newsurfacewatertreatmentfacility,afirestation,improvementstothepoliceadministrationbuilding, andseveralstreetsprojects.  AWARDSANDACKNOWLEDGEMENTS  CertificatesofAchievement  GovernmentFinanceOfficersAssociationoftheUnitedStatesandCanada(GFOA)awardedaCertificate of Achievement for Excellence in Financial Reporting to the City of Goodyear, Arizona, for its annual comprehensive financial report for the fiscal year ended June 30, 2020. The City’s application for the annualcomprehensivefinancialreportforthefiscalyearendedJune30,2021iscurrentlypending.  TheCityhasachievedthisprestigiousawardeveryyearsince2007.InordertobeawardedaCertificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensivefinancialreport.Thisreportmustsatisfybothgenerallyacceptedaccountingprinciples andapplicablelegalrequirements.  ACertificateofAchievementisvalidforoneyearonly.Webelieveourcurrentannualcomprehensive financialreportcontinuestomeettheCertificateofAchievementProgram’srequirementsandweare submittingittoGFOAtodetermineitseligibilityforanothercertificate.  Inaddition,thecityalsoreceivedtheGFOA’sDistinguishedBudgetPresentationAward,thehighestform ofrecognitioningovernmentalbudgeting,foritsannualbudgetdocumentforthefiscalyearbeginning July1,2021.TheCityhasreceivedthisawardeveryyearsince1994.  Acknowledgement  The preparation of this Annual Comprehensive Financial Report could not have been accomplished withoutthededicatedcommitmentofeverymemberoftheFinanceDepartment.Wealsowishtothank theMayorandmembersoftheCityCouncil,thecity’sAuditCommittee,andtheCityManager’sOfficefor theircontinuedsupportinplanningandconductingthefinancialaffairsofthecityinaresponsibleand progressivemanner.  Sincerely,     DougSandstrom FinanceDirector  190 N Litchfield Road goodyearaz.gov Goodyear, AZ 85338 P 623-882-7897 F 623-937-3003 Page 6 City of Goodyear Finance Department November21,2022  HonorableMayor,CityCouncil,CityManager,andCitizensoftheCityofGoodyear,Arizona:  RE:CertificatesofAchievement  TheCity’sapplicationfortheannualcomprehensivefinancialreportforthefiscalyearendedJune30, 2021 is currently pending review.  According to a statement published on the GFOA’s website (https://www.gfoa.org/coaͲaward),thereisanapproximatenineͲmonthlagfromthetimeofsubmission:  “Wetrytocompletereviewswithinsixmonthsofreceivingapplications.GFOA'seffortstodealwith COVIDͲ19 and to ensure a successful implementation of the AMS have temporarily lengthened the turnaroundtimefortheCertificateawarddecisions.Ourcurrentturnaroundtimeisapproximatelynine months,butweareworkinghardtoreducethattimeframebacktothenormaltimeofsixmonths. Thankyouforyourpatienceasweresolvethistemporarybacklog.”  TheCityhasachievedthisprestigiousawardeveryyearsince2007.InordertobeawardedaCertificate ofAchievement,agovernmentmustpublishaneasilyreadableandefficientlyorganizedcomprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicablelegalrequirements.WebelievethatourFY21submissionoftheannualcomprehensivefinancial reportcontinuestomeettheCertificateofAchievementProgram’srequirementsandarelookingforward totheresultsofGFOA’sreview. 1900 N Civic Square Goodyear, AZ 85395 goodyearaz.gov Page 7 Goodyear Citizens City Council Joe Pizzillo Mayor Brannon Hampton Vice Mayor City Council Sheri Lauritano Councilmember Wally Campbell Councilmember Bill Stipp Councilmember Julie Karins City Manager Roric Massey City Attorney Mayra Galindo Municipal Judge Laura Kaino Councilmember Patrick Bray Councilmember Effective: April 1, 2022 Page 8 Organizational Chart Departments (15) Effective: February 2022 Citizens Mayor & Council Municipal Judge Mayra Galindo City Manager Julie Karins City Attorney Roric Massey Municipal Court Crystal Whelan Legal Services Deputy City Manager Wynette Reed City Manager's Office Deputy City Manager Paul Luizzi (Interim) Development Services Christopher Baker City Clerk Darcie McCracken Finance Doug Sandstrom Economic Development Lori Gary Digital Communications Tammy Vo Fire Tim Wayne (Interim) Engineering Sumeet Mohan Human Resources Lyman Locket Information Technology Justin Fair Police Santiago Rodriguez Parks & Recreation Nathan Torres Public Works Javier Setovich Page 9            Page 10 City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 FINANCIAL SECTION The Financial Section includes the Independent Auditor’s Report, Management's Discussion and Analysis, the Audited Financial Statements, Notes to the Audited Financial Statements, Required Supplementary Information, and Other Supplementary Information. FINANCIAL SECTION   Independent Auditors’ Report The Honorable Mayor and Members of City Council City of Goodyear, Arizona Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Goodyear, Arizona, as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Goodyear, Arizona, as of June 30, 2022, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Change in Accounting Principle As described in Note 1 to the financial statements, in fiscal year 2022, the City implemented the provisions of GASB Statement No. 87, Leases. Our opinion is not modified with respect to this matter. Responsibilities of Management for the Financial Statements The City’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for 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.  Page 11  In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for one year after the date that the financial statements are issued or when applicable, one year after the date that the financial statements are available to be issued. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: x x x x x Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit 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 City’s internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and the pension and OPEB schedules as listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 have applied certain limited procedures to the required supplementary information in  Page 12  accordance with auditing standards generally accepted in the United States of America, 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 Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The 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 auditing standards generally accepted in the United States of America. In our opinion, the combining and individual fund financial statements are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 21, 2022 on our consideration of the City’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. The purpose of that report is solely 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 the effectiveness of 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 City’s internal control over financial reporting and compliance.  Page 13  HintonBurdick, PLLC  Gilbert, Arizona November 21, 2022  Page 14 MANAGEMENT’SDISCUSSIONANDANALYSIS FortheYearEndedJune30,2022  ManagementispleasedtoprovidereadersoftheCityofGoodyear,Arizona(City)financial statementsthisoverviewandanalysisforthefiscalyearendedJune30,2022.Thisnarrative isdesignedto(1)assistthereaderinfocusingonsignificantfinancialissues,(2)providean overviewoftheCity’sfinancialactivity,(3)identifychangesintheCity’sfinancialposition,(4) identifyanymaterialdeviationsfromthefinancialplan(theapprovedannualbudget),and (5)identifyindividualfundissuesorconcerns.  The management’s discussion and analysis (MD&A) provides a unique focus and serves a differentpurposethantheletteroftransmittal.However,theMD&Aisdesignedtoberead inconjunctionwiththeletteroftransmittal,thefinancialstatementsandtheaccompanying notestothefinancialstatements.  FINANCIALHIGHLIGHTS  i The City’s governmentͲwide assets and deferred outflows exceeded its liabilities and deferredinflowsby$1.125B(netposition)atthecloseoffiscalyear2022.Ofthisamount, $163M represents unrestricted net position, which may be used to meet the City’s ongoingobligationstocitizensandcreditors.  i The$114millionincreaseinnetpositionoftheCityisprimarilydrivenbyan$80Mnet increaseinfixedassets,ofwhich$36MwasattributabletoanincreaseinLandanda$33M increaseinBuildings.  i As of the close of fiscal year 2022, the City’s governmental funds reported combined ending fund balances of $302 million, an increase of $48.6 million (19 percent) in comparisonwiththeprioryearfundbalanceof$253million.  i At June 30, 2022, total unassigned fund balance for the governmental funds is $62.8 million,anincreaseof$33.73millionfromthepriorfiscalyear.  OVERVIEWOFFINANCIALSTATEMENTS  This overview provides an introduction to the City’s basic financial statements.  The basic financial statements are comprised of three components:  1) governmentͲwide financial statements,2)fundfinancialstatements,and3)notestothefinancialstatements.Thisreport alsocontainsothersupplementaryinformationinadditiontothebasicfinancialstatements themselves.  GovernmentͲwide financial statements.  The governmentͲwide financial statements are designedtoprovidereaderswithabroadoverviewoftheCity’sfinances,inamannersimilar toaprivatesectorbusiness.AlloftheactivitiesoftheCity,exceptthoseofafiduciarynature, areincludedinthesestatements.TheactivitiesoftheCityareshownintwocolumnsonthese Page 15 statements–governmentalactivitiesandbusinessͲtypeactivities.Atotalcolumn,combining thetwoactivitiesisalsoprovided.  The Statement of Net Position presents information on all of the City’s assets, deferred outflow of resources, liabilities, and deferred inflow of resources, with the net of all categoriesbeingreportedastheCity’snetposition.Overtime,increasesordecreasesinnet position may serve as a useful indicator of whether the financial position of the City is improvingordeteriorating.  TheStatementofActivitiespresentsinformationdemonstratinghowtheCity’snetposition changed during the most recent fiscal year as compared with the previous fiscal year. All changesinnetpositionarereportedassoonastheunderlyingeventgivingrisetothechange occurs,regardlessofthetimingoftherelatedcashflows.Thus,revenuesandexpensesare reportedinthisstatementforsomeitemsthatwillonlyresultincashflowsinfuturefiscal periods (e.g., uncollected taxes and earned but unused compensated absences). The net revenue(expenses)showthefinancialburdenthatwasplacedontheCity’staxpayersbyeach ofthesefunctions.Providingthisinformationallowsourcitizenstoconsiderthecostofeach functionincomparisontothebenefitsthatareprovidedbythatfunction.  x Governmental activities – Most of the City’s basic services are included here, such as generalgovernment(administration),publicsafety(police,fireandcourt),highwaysand streets,publicworks,cultureandrecreation,anddevelopmentservices.Theseactivities aregenerallysupportedbytaxesandgeneralrevenues.  x BusinessͲtype activities – The services provided by the City included here are water, wastewater,andsanitationservices.Theseactivitiesareprimarilysupportedthroughuser chargesorfees.  The governmentͲwide financial statements include not only the City itself (known as the primarygovernment),butalsotheoperationsof10CommunityFacilitiesDistricts.Although legally separate from the City, these component units are blended with the primary government because of their governance and financial relationship to the City.  Separate financial statements may be obtained from the City of Goodyear’s website www.goodyearaz.gov/cfd.  FundFinancialStatements.Afundisagroupingofrelatedaccountsthatisusedtomaintain controloverresourcesthathavebeensegregatedforspecificactivitiesorobjectives.TheCity uses fund accounting to ensure and demonstrate compliance with financeͲrelated legal requirements.AllofthefundsoftheCitycanbedividedintothreecategories:governmental funds,proprietaryfunds,andfiduciaryfunds.  Governmental Funds.  Governmental funds are used to account for essentially the same functionsreportedasgovernmentalactivitiesinthegovernmentͲwidefinancialstatements. However, unlike the governmentͲwide financial statements, governmental fund financial statements focus on nearͲterm inflows of spendable resources, as well as on balances of Page 16 spendableresourcesavailableattheendofthefiscalyear.Suchinformationmaybeusefulin evaluatingtheCity’snearͲtermfinancingrequirements.  SincethefocusofgovernmentalfundsisnarrowerthanthatofthegovernmentͲwidefinancial statements,itisusefultocomparetheinformationpresentedforgovernmentalfundswith similarinformationpresentedforgovernmentalactivitiesinthegovernmentͲwidefinancial statements.Bydoingso,readersmaybetterunderstandthelongͲtermimpactoftheCity’s nearͲterm financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmentalactivities.  The City maintains ten (10) individual governmental funds. Information is presented separatelyinthegovernmentalfundbalancesheetandinthegovernmentalfundstatement ofrevenues,expenditures,andchangesinfundbalancesfortheGeneralFund,NonͲUtility Development Impact Fees – Capital Projects, GO Bond – Capital Projects, McDowell Road CommercialCorridorImprovementDistrict–DebtService,andCommunityFacilitiesDistricts –DebtService,allofwhichareconsideredtobemajorfunds.Datafromtheotherfive(5) governmental funds are combined into a single, aggregated NonͲmajor Funds column for presentation. Individual fund data for each of these nonͲmajor governmental funds is providedasSupplementaryInformation,intheformofcombiningstatementsandschedules.  Proprietary Funds.  The City maintains three (3) proprietary funds. Proprietary funds (enterprise and internal service) utilize full accrual accounting, the same method used by private sector business. The City uses separate enterprise funds to account for its water, wastewater,andsanitationservices.Thesefundsareconsideredtobemajorfundsofthe City. Proprietary funds provide the same type of information as the governmentͲwide financial statements, only in more detail. The City has one internal service fund, the SelfͲ InsuranceTrust.TheSelfͲInsuranceTrustFundreportsactivitiesrelatedtoselfͲinsurancefor employeehealthbenefits.Theinternalservicefundactivitiesarereportedasgovernmental activitiesonthegovernmentͲwidestatements.  Fiduciary Funds.  The City maintains five (5) fiduciary funds. Fiduciary funds are used to accountforresourcesheldforthebenefitofpartiesoutsidetheCity.Fiduciaryfundsarenot reflectedinthegovernmentͲwidefinancialstatementsbecausetheresourcesofthosefunds are not available to support the City’s own programs. The accounting method used for fiduciaryfundsissimilartotheaccountingmethodusedforproprietaryfunds.  NotestotheFinancialStatements.Thenotesprovideadditionalinformationthatisessential for a full understanding of the data provided in the governmentͲwide and fund financial statements.  OtherInformation.Inadditiontothebasicfinancialstatementsandaccompanyingnotes, thisreportalsopresentscertainrequiredsupplementaryinformationconcerningtheCity’s Page 17 budgettoactualcomparisonandprogressinfundingitsobligationtoprovidepensionand OPEBbenefitstoitsemployees.  ThecombiningstatementsreferredtoearlierinconnectionwithnonͲmajorgovernmental funds are presented immediately following the Supplementary Information – Budgetary ComparisonSchedules–MajorGovernmentalFunds.  Budget to actual comparison schedules for the enterprise funds are presented in the BudgetaryComparisonSchedules–OtherFundssection.  GOVERNMENTͲWIDEFINANCIALANALYSIS  Thefollowingtables,graphsandanalysisdiscussthefinancialpositionandchangestothe financialpositionoftheCity,asawhole,asoftheyearendedJune30,2022withcomparative informationforthepreviousyear.  NetPosition  ThefollowingtablewasderivedfromthecurrentandprioryearStatementofNetPosition:    TheCity’sassetsanddeferredoutflowsofresourcesexceededliabilitiesanddeferredinflows ofresourcesby$1.125billionatthecloseoffiscalyear2022andby$1.011billionin2021, providinganoverallincreaseintheCity’snetpositionof$114million.Herearethemajor factorsdrivingtheoverallincrease:  x Currentandotherassetsincreasedby$32million.Governmentalactivitiesincreased $51.9Mprimarilyduetoa$37Mincreaseincashandinvestmentsfromtheissuance ofgeneralobligationbonds,relatedtothefundingofpublicsafety,fireprotection, transportation,andstreetandhighwayimprovementsandfundsreceivedfromthe StateofArizona,DepartmentofTransportationforaspecificproject;$7Mduetothe recording of a Lease Receivable from the implementation of GASB87, with the Page 18 remainderoftheincreaseattributabletoanincreaseinTaxandIntergovernmental Receivables. This was offset by a $19.9 million decrease in cash related to the spendingdownofbondfundsrelatedtoWaterandWastewaterCIPprojects. x Capitalassets,netofdepreciation,increasedby$79.3million.AnincreaseinLandand LandImprovementsaccountsfor$36.2millionoftheincrease,relatedtoa30Ͳacre park,therecreationcampus,andotherproperties;$43.6millionisattributabletoan increaseBuildings,relatedtotheconstructionofafirestation,andanaquaticsand recreationfacility.Theincreasewasoffsetbycurrentyeardepreciation. x Deferredoutflowsdecreasedby$22.3million, relatedtopensionsandotherpostͲ employmentbenefits(OPEB).Deferredinflowsincreasedby28.9million,relatedto pensions and other postͲemployment benefits (OPEB) and leases (from the implementationofGASBͲ87). x Currentandotherliabilitiesdecreasedby$35.3million,attributabletoadecreasein accountspayableanddepositsreceivedfromdevelopers. x LongͲterm liabilities decreased by $18.7 million, attributable to a decrease in Net PensionandOPEBLiability.  The largest portion of the City’s net position totaling $782.3 million (69.53% of total net position) reflects its net investment in capital assets (land and improvements, artwork, constructioninprogress,rightofway,waterrights, streetscape, infrastructure, buildings and improvements, vehicles, furniture, and equipment),lessanyrelatedoutstandingdebtthat was used to acquire those assets. The City uses thesecapitalassetstoprovideavarietyofservices to its citizens.  Accordingly, these assets are not availableforfuturespending.   AlthoughtheCity’sinvestmentincapitalassetsisreportednetofrelateddebt,itshouldbe notedthattheresourcestorepaythisdebtmustbeprovidedfromotherresources,sincethe capitalassetsthemselvescannotbeusedtoliquidatetheseliabilities.  Approximately $180.0 million, or 15.99% of governmentͲwide fund balance represents resources that are restricted, meaning that they are subject to internal or external use restrictions.  The remaining balance of $162.9 million, or 14.48%, of governmentͲwide fund balance is unrestricted and may be used to meet the City’s ongoing obligations to its citizens and creditors.  Attheendoffiscalyear2022,theCityreportedpositivebalancesinallthreecategoriesof netposition,forthegovernmentasawhole,aswellasforitsseparategovernmentaland businessͲtypeactivities.Thesamesituationheldtrueforthepriorfiscalyear. Page 19  GovernmentalActivities  Duringthecurrentfiscalyear,thenetpositionforgovernmentalactivitiesincreased$106.2 millionfromthepriorfiscalyearforanendingbalanceof$795.6million.Thechangewas drivenbyanincreaseincashrelatedtodebtproceedsreceivedduringtheyear,andcapital assets.  BusinessͲtypeActivities  TheCity’sbusinessͲtypeactivitiesreportedanincreaseof$7.9millioninnetpositionbringing thetotalnetpositionto$329.6million.Thechangewasdrivenbyanincreaseinconstruction inprogress,buildings,andinfrastructure,offsetbyadecreaseinrestrictedcash.Restricted cashdecreasedasdebtproceedswereusedtofinancetheacquisitionandconstructionof thefixedassetsmentioned.  ChangesinNetPosition  Thefollowingtablecomparestherevenuesandexpensesforthecurrentandpreviousfiscal year:   Page 20 FY22totalrevenuestotaled$354M,anincreaseof$12.7Mwhencomparedtotheprevious year.GeneralRevenuesincreased$17.7M,withthemajorityoftheincreaseattributableto City Sales Tax Revenue. The increase was offset by a decrease in Program Revenues of $4.955M.AlthoughOperatingGrants&Contributionsincreasedby$10.8million,Chargesfor Services and Capital Grants & Contributions decreased by $12.2 million and $3.5 million, respectively. The pie chart provides an illustration of governmentͲwide revenues by source.  GovernmentͲWideRevenues  Governmental activities account for 79.53% of total revenues, comparedto71.51%theprioryear.TheCity’ssalestaxrevenueincreased$14.4million,to $122.9M,duetoincreasedconstructionactivityandpopulationgrowth.Operatinggrantsand contributions, capital grants and contributions, franchise tax, property tax, state shared revenues,andmiscellaneousrevenuesincreased$10.8million,$11.7million,$276thousand, $2.3 million, $3.4 million, and $932 thousand, respectively, as a result of the continued increaseincommercialandresidentialdevelopmentwithintheCity.Theincreasewasoffset bydecreasesinchargeforservicesandunrestrictedinvestmentearnings,intheamountof $2.2millionand$4million,respectively.  BusinessͲtypeactivitiesaccountfor20.47%oftotalrevenues,comparedto28.49%theprior year. Unrestricted investment earnings increased $500 thousand. Charges for services, capitalgrantsandcontributionsandmiscellaneousrevenuesdecreasedby$10million,$15.2 million,and$78thousand,respectively.  GovernmentͲWideExpenses  The following pie chart illustrates governmentͲwideexpensesbyfunction.   Governmentalactivitiesaccountfor75.9% of expenses, and include the General Government (14.6%), Public Safety (27.6%),HighwayandStreets(10%),Public Works (2.4%), Culture and Recreation (11.0%),DevelopmentServices(6.4%),and InterestonlongͲtermdebt(3.9%).  Page 21 BusinessͲtypeactivitiesaccountfor24.10%oftotalexpenses,withWaterandWastewater accountingfor21%andSanitationaccountingfor3.1%.  As shown in the Net Position table on the previous pages, FY22 total expenses totaled $234.5M,anincreaseof$15.2Mwhencomparedtothepreviousyear.Thetotalchangein expenseswereattributabletothefollowing:  x Governmentalactivitiesaccountfor$13.8Mof thechange,withGeneralGovernment, Public Safety, Highway and Streets, Culture and Recreation and Development Services accountingfor$3.2million,$4.3million,$2.1million,$6.1million,and$3.2millionofthe increase,respectively.ThiswasoffsetbyadecreaseinPublicWorksandInterestof$4.1 millionand$1.1million,respectively. x BustinessͲtypeactivitiesaccountfor$1.4Moftheincrease,withWaterandWastewater andSanitationaccountingfor$720thousandand$767thousand,respectively.  FINANCIALANALYSISOFTHECITY’SFUNDS  The City maintains fund accounting to demonstrate compliance with budgetary and legal requirements.Thefollowingisabriefdiscussionoffinancialhighlightsfromthefundfinancial statements.  GovernmentalFunds  ThefocusoftheCity’sgovernmentalfundsistoprovideinformationonnearͲterminflows, outflows,andbalancesofspendableresources.Allmajorgovernmentalfundsarediscreetly presentedonthesefinancialstatements,whilenonͲmajorfundsarecombinedintoasingle column.  AttheendofFY22,theCity’sgovernmentalfundsreportedcombinedendingfundbalances of$301.6million,whichisanincreaseof$48.6million,or19%,fromthepreviousyear.The changeinfundbalanceisdueprimarilytoanincreaseininvestmentsandrestrictedcashand investments, related to bond proceeds received in FY22. Nonspendable, Restricted, Committed, and Unassigned Fund balances changed by ($1.3 million), $15.1 million, $1.0 million,and$33.7million,respectively.  Revenuesforgovernmentalfunctionsoveralltotaled$263.6millionforthefiscalyearended June30,2022,whichrepresentsanincreaseof$32.5millionfromthepriorfiscalyear.The increaseisattributabletoTaxRevenue,IntergovernmentalRevenue,ChargesforServices, FinesandForfeitures,andOtherRevenuesintheamountof$16.8million,$23.7million,$309 thousand,$101thousand,and$585thousand,respectively.Thesewereoffsetbyadecrease inLicenses,PermitsandFees,InvestmentIncome,SpecialAssessments,andContributions, intheamountof$2.4million,$4million,$453thousand,and$2.1million,respectively.  The expenditures for governmental functions totaled $250.3 million, a decrease of $7.6 millionfromtheprioryear.ThedecreasecanbeattributedtoPublicSafety,PublicWorks, Page 22 CapitalOutlay,DebtIssuanceCosts,andPrincipalandInterestintheamountof$12.6million, $392thousand,$1.1million,$267thousand,$3.8millionand$288thousand,respectively. This was offset by increases in General Government, Highway and Streets, Culture and Recreation, and Development Services in the amount of $2.3 million, $555 thousand, $.1 million,and$2.8million,respectively.  TheGeneralFundisthechiefoperatingfundoftheCity.Attheendofthecurrentfiscalyear, theunassignedfundbalanceoftheGeneralFundwas$63.2million,whiletotalfundbalance increasedto$179.1million.AsameasureoftheGeneralFund’ssolvency,itmaybeusefulto comparebothunassignedfundbalanceandtotalfundbalancetogeneralfundexpenditures. Theunassignedfundbalancerepresentsapproximately25.26%ofgeneralfundexpenditures, while total fund balance represents approximately 71.55% percent of general fund expenditures.  ThefundbalanceoftheNonͲUtilityDevelopmentImpactFeeCapitalProjectsFundincreased by $24.6 million to $80.3 million. The increase is predominately driven by development impactfeerevenuesandconstructionsalestax.  ThefundbalanceoftheGeneralObligation/CapitalExpenditureFunddecreasedby$11.6 million to $26.4 million. FY22 Capital outlays totaled $60.4 million, with the Civic Square projectaccountingforthemajorityofexpenses.  ThefundbalanceoftheMcDowellRoadCommercialCorridor–DebtServiceincreased$704 thousandto$936thousand.Therewerespecialassessmentcollectionsof$3.6millionand principalandinterestpaymentsof$2.9million.  ThefundbalanceoftheCommunityFacilitiesDistrict–DebtServicefundincreasedby$98 thousandto$1.4million.Revenuestotaled$9.3million,andprincipalandinterestpayments were$9.2million.  ThefundbalancefortheNonͲMajorfundsincreasedby$2.9millionto$13.5million.FY22 expensesof$38.3millionwere$1.8millionmorethantheprioryear.GeneralGovernment andPublicSafetyexpensesdecreased$4.5millionand$10thousand,respectively,compared tothepreviousyear.ThedecreaseinGeneralGovernmentexpenseswasattributabletoless developerreimbursementspaidbytheCFDs.Thiswasoffsetbyanincreaseinexpensesin PublicWorks,Culture&Recreation,DevelopmentServices,Capital,andDebtintheamount of$550thousand,$1.2million,$200thousand,$2.8million,and$1.6million.  ProprietaryFunds  Theproprietaryfundfinancialstatementsarepreparedonthesameaccountingbasisand measurement focus as the governmentͲwide financial statements, but provide additional detailsinceeachmajorenterprisefundisshowndiscretely.  Page 23 Theproprietaryfundsnetpositiontotals$329.6million,anincreaseof$7.9millionfromthe previous fiscal year. The net position for Water and Wastewater totaled $325 million, an increaseof$8.95millionwhencomparedtotheprioryear.ThenetpositionforSanitation totaled$4.6million,adecreaseof$1.1millionwhencomparedtolastyear.  FY22operatingrevenuesfromWaterand&Wastewateractivitiestotaled$53.4million,a decreaseof$9.6millionfromtheprioryear.NonͲoperatingrevenuesof$11.3millionwere $15.2 million less than the previous year, as major projects were completed and related developercontributionshadbeensubstantiallypaidinfull.FY22operatingexpensesof$43.1 millionwere$910thousandmorethantheprioryear;salaries,wagesandbenefitswere$169 thousandmorethanthepreviousyear;costofsales/serviceswas$11thousandmorethan thepreviousyear;anddepreciationwas$730thousandmorethanthepreviousyear.NonͲ operating interest expense and fiscal charges totaled $6.2 million, a decrease of $189 thousandfromthepreviousyear.  FY22operatingrevenuesfromSanitationactivitiestotaled$7.68million,adecreaseof$359 thousand from the previous year. FY22 operating expenses of $7.3 million were $767 thousandmorewhencomparedtotheprioryear.  BUDGETARYHIGHLIGHTS  TheCity’sannualbudgetisthelegallyadoptedexpenditurecontroldocumentoftheCity.The schedulesfiledwiththeAuditorGeneral’sofficelisttheoriginalbudgetadoptedfortheprior year, estimated expenditures through the end of the fiscal year and the adopted current year’sbudget.BudgetarycomparisonschedulesarerequiredfortheGeneralFund,allmajor funds, nonͲmajor funds and enterprise funds. The General Fund budgetary comparison schedule can be found in the Required Supplementary Information section.  The other budgetary comparison schedules can be found in the Other Supplementary Information section.  FollowingarethebudgetaryhighlightsfortheGeneralFund:  Asshowninthe“GeneralFundRevenues”chart,FY22 actualrevenuesexceededbudgetintheTax,Licenses andPermits,andIntergovernmentalRevenue. x Taxrevenues,whichconsistofCitySalesTax, Construction Sales Tax, Property Tax and Franchisefeesexceededthebudgetby$33.8 million. The variance is attributable to increased residential and commercial constructionactivity,increasedpropertytaxvaluationandanincreasedsalestax base.  x LicensesandPermits,whichconsistsofinspectionfees,engineerpermits,planreview, zoning,developmentservicesfees,businesslicenses,liquorlicenses,otherlicenses, permitsandfeeswere$207thousandmorethanplan. Page 24 x Intergovernmentalrevenues,stateincometax,vehiclelicensetax,andstatesalestax exceeded budget by $14.7 million. The resulting population expansion, discussed previously,alsoincreasesthepercentageofstatesharedrevenuesreceivedbythe City.  Asshowninthe“GeneralFundExpenditures”chart, FY22actualexpenditureswerelessthanbudgetin eachcategory,exceptDebtService,whichhada minimal$15thousandvariance.Thetwolargest positivevarianceswereasfollows: x GeneralGovernmentactualexpendituresof $26.4millionwere$28.9millionlessthana budgetof$55.287million.Thepositive variancewasattributabletoacontingency reserveof$23.8millionandpositivevariancesinallgeneralgovernment departments. x CapitalOutlaysof$16.8millionwere$48.2millionlessthanabudgetof$64.9 million.  FollowingarethebudgetaryhighlightsfortheOtherMajorGovernmentalFunds:  x NonͲUtilityDevelopmentImpactFees–Actualrevenuesof$29.5millionare$11.9 millionmorethanafinalbudgetof$17.5million.Taxrevenueanddevelopment impactfeeswere$3.3and$8.4millionmorethanplan. x GOBonds/CapitalProjectFundsͲActualexpendituresare$80.2millionlessthana finalbudgetof$140million.Thevariancerepresentsatimingdifferencebasedon whenaprojectiscompleted.Forexample,theFY22budgetincludesthetotal capitaloutlayof$9.675millionforthePoliceBuildingPhaseIIproject.However, FY22actualexpenditurestotaled$2.77million.Thedifferenceof$6.9millionis anticipatedtobespentinsubsequentyears. x McDowellRoadCommercialCorridor–Actualrevenuesof$3.641millionwere$68 thousandmorethanabudgetamountof$3.574million.Thevarianceisattributable toadditionalspecialassessmentpaymentsreceivedfromresidentsintheMcDowell RoadCommercialCorridor. x CommunityFacilitiesDistricts,DebtServiceFunds–Actualrevenuesof$9.3million were$314thousandmorethananticipated.Actualexpendituresof$9.2million were$658thousandlessthanplan.  FollowingarethebudgetaryhighlightsforWater, WastewaterandSanitation:   x WaterandWastewater–ChangeinNetPosition of$8.95millionwas$53.7millionfavorabletoa planneduseinfundbalanceof$44.7million. Revenuesof$53.4millionwere$5.953million Page 25 x morethanaplanof$47.4million.Operatingexpensesof$43.1millionwere$43.5 millionlessthanaplanof$86.5million.Thevarianceinexpendituresisrelatedto thebudgetauthorityrequiredforcapitaloutlayswhichareincludedintheexpense budget.NonͲoperatingexpensesof$6.1millionwere$5.986millionlessthanaplan of$12.1million,attributabletoapositivevarianceinterestanddebtcosts.  Sanitation–ChangeinNetPositionof($1.1million)was$4.4millionfavorabletoa planneduseoffundbalanceof$5.5million.Revenueswere$18thousandlessthan aplanof$7.7million.Operatingexpensesof$7.3millionwere$4.4millionlessthan aplanof$11.7million.NonͲoperatingrevenuesof$9thousandwere$16thousand lessthanplan,withlessthanexpectedinvestmentincome.   CAPITALASSETSANDDEBTADMINISTRATION  CapitalAssets  TheCity’sinvestmentincapitalassets(netofaccumulateddepreciation)foritsgovernmental and businessͲtype activities as of June 30, 2022 amounts to $1.237 billion. Capital assets includelandandimprovements,artwork,constructioninprogress,rightofway,waterrights, streetscape,infrastructure,buildingsandimprovements,vehicles,furnitureandequipment, andtherightstouseassets(leasedassets).Intotal,therewasanincreaseof$139million fromtheprioryear.   AdditionalinformationontheCity’scapitalassetscanbefoundinNote4.  DebtAdministration  Attheendofthecurrentfiscalyear,theCityhadtotallongͲtermdebtoutstandingof$456.5 million.Ofthisamount$150.6millionisingeneralobligationbondsbackedbythefullfaith andcreditoftheCity,$67.2millionisinCommunityFacilitiesDistrictsbondswhicharepaid bythepropertyownerswithinthosedistricts,$236.5millionisinrevenuebondswhichare payablefromuserfees,assessments,andgeneralfundrevenuesand$2.5millioninloans payabletoWaterInfrastructureFinanceAuthorityofArizona(WIFA)whichispayablefrom userfees.ThefollowingscheduleshowstheoutstandingdebtobligationasofJune30,2022 and2021: Page 26   TheStateconstitutionlimitstheamountofgeneralobligationdebtacitymayissuetosix percent(6%)ofitstotalnetfullcashassessedpropertyvaluation.Thecurrentsixpercent debtlimitationfortheCityis$95.183million.TheCityhas$36.485millionofoutstanding revenue obligation bonds subject to the 6% limit. In addition, the State constitution limit allowsacitytoissueanadditionaltwentypercent(20%)ofitstotalnetfullcashassessed propertyvaluationforwater,wastewater,lights,transportation,publicsafety,openspace preserves,parks,playgroundsandrecreationalfacilities.Thecurrent20%debtlimitationfor theCityis$317.3million.TheCityhas$114.1millionofoutstandinggeneralobligationdebt ofwhichallissubjecttothe20%limit.  Duringtheyear,theCitymaintainedthefollowingbondratings,asofJune30,2022:    AdditionalinformationontheCity’slongͲtermdebtcanbefoundinNotes5through9.  ECONOMICFACTORSANDNEXTYEAR’SBUDGET  WhileitappearsfromasocietalstandpointtheworstoftheCoronaviruspandemicisbehind us,we’restillverymuchdealingwiththeeconomicunpredictabilitynotjustinGoodyearbut across the country. New challenges include widespread labor shortages, supply chain disruptions,andinflationratesnotseeninover40years.Despitethesechallenges,thecity ofGoodyearandMaricopaCountycontinuetoseestronggrowthandongoingconstruction activityallowingthecitytomakeprogresswithourstrategicandcommunityprioritieswhile stillworkingwithintheconservativeboundariesofourCityCounciladoptedfinancialpolicies.  Whilestillbeingissuedathighlevels,permitsforsingleͲfamilyhousingaredowncompared toprioryearactivitydueinlargeparttoalackofbuildablelotsandextendedconstruction developmentcyclesrelatedtothechallengesstatedabove.Despitethesebottlenecks,our city continues to benefit from growth and is currently estimated at just under 102,000 residents. In addition to our residential growth, new businesses continue to locate in GoodyearexpandingouroneͲtimerevenuesthroughpermitfees,constructionsalestaxes, Page 27 andusetaxonequipment.Oncecompletedthesenewandexpandingbusinessesbeginto generateongoingsalesandpropertytaxesforthecity,aswellaslocaljobsforourresidents, whichinturnincreasesourstatesharedrevenues.  Theongoingimpactofgrowthoncityrevenuescontinuestomaterialize.ForFY2023,newly constructedpropertiesadded$94.7millionofassessedvaluetothecity.Assessedvaluation growthofexistingpropertiesgrewby2.4%whichisinlinewithstatelawlimitingassessed valuationgrowth.ThesepropertyvaluesserveasthebaseforbothPrimaryandSecondary property taxes. Primary property tax revenue supports the dayͲtoͲday General Fund operatingbudgetandisconstrainedto2%growthovertheprioryearplusalevyonnew properties. Secondary property taxes support voterͲapproved General Obligation bonded debtservice.  LocaleconomicforecastsforthePhoenixMetropolitanStatisticalArea(MSA)predictannual personalincomegrowthof1.4%inCY2022.Personalincomegrowthislagginginflationwhich has impacted the housing market considerably making living in the greater Phoenix area noticeablylessaffordablethanitwasonetotwoyearsago.Themedianpriceofahomein Goodyearhasrisenby33.8%to$477,000.This,amongotherfactors,hasledtoatremendous increaseintheconstructionofmultiͲfamilydwellingunitsthroughoutthecity.  Onastatewidebasis,retailsalesareprojectedtogrowby3.4%inCY2022and2.6%inCY2023. Goodyear local sales taxes have consistently performed above these statewide economic measures that are indicative of local taxable spending. Our sales tax projections for retail salesincludegrowthratesof4.5%to5.0%annuallywithactualtotalnonͲconstructionsales taxgrowthanticipatedtocontinuetoexceedtheseconservativeestimatesoverthenextfive years.  TheCitycontinuestobudgetconservatively,withanemphasisonusingoneͲtimerevenues for oneͲtime expenses.  The fiscal year 2023 budget focuses on providing services to the rapidlygrowingpopulationandbusinessbase.Akeyfeatureistheadditionoffundingfor theoperationsofnewlycompletedandanticipatedcapitalprojects.TheCityalsomonitors the local, regional, and national economies, most notably the construction labor and materials markets, in order to be ready to adapt to any changes, while still positioning ourselvesforfuturegrowth. CONTACTINGTHECITY’SFINANCIALMANAGEMENT  Thisfinancialreportisdesignedtoprovideourcitizens,taxpayers,customers,andinvestors andcreditorswithageneraloverviewoftheCity’sfinancesandtodemonstratetheCity’s accountability for the resources it receives.  A copy of the City's Annual Comprehensive FinancialReportisavailableonͲlineatwww.goodyearaz.gov.Ifyouhavequestionsaboutthis reportorneedadditionalinformation,contacttheCityofGoodyear,1900N.CivicSquare, Goodyear,Arizona85395orbyemailatgyfinance@goodyearaz.gov.  Page 28 BASIC FINANCIAL STATEMENTS Page 29 Page 30 GOVERNMENT-WIDE FINANCIAL STATEMENTS Page 31 Page 32 CITY OF GOODYEAR, ARIZONA Statement of Net Position June 30, 2022 Governmental Activities Business-type Activities Total Assets Cash and cash equivalents $ Investments Receivables (net of allowance) Leases receivable Inventory Prepaid items/deposits Net pension/OPEB asset Temporarily restricted assets: Cash and cash equivalents Notes receivable Capital assets (net of accumulated depreciation): Land Artwork Right of way Streetscape Construction in progress Buildings Infrastructure Land improvements Vehicles, furniture, and equipment Water rights Right to use asset Total assets 124,002,021 177,422,544 61,995,676 6,659,301 1,327,477 397,376 1,861,629 $ 59,410,378 977,275 5,038,413 1,276,801 211,705 $ 183,412,399 178,399,819 67,034,089 6,659,301 2,604,278 397,376 2,073,334 42,101,530 1,675,250 458,356 - 42,559,886 1,675,250 36,219,456 371,130 90,875,981 9,061,008 78,684,688 235,519,310 263,054,684 31,621,281 26,781,171 75,410 8,155,895 146,978 123,940,030 133,772,846 173,157,312 8,252,699 18,307,453 - 44,375,351 518,108 90,875,981 9,061,008 202,624,718 369,292,156 436,211,996 31,621,281 35,033,870 18,307,453 75,410 1,189,706,923 533,106,141 1,722,813,064 34,431,225 5,583,309 40,014,534 1,870,296 2,784,033 4,654,329 36,301,521 8,367,342 44,668,863 Deferred Outflows of Resources Deferred outflows related to pensions/OPEB Deferred charge on refunding Total deferred outflows Liabilities Accounts payable and other current liabilities Interest payable Deposits Unearned revenues Noncurrent liabilities: Due within one year Due in more than one year Net pension and OPEB liability 22,808,089 1,012,984 30,005,871 3,483,286 5,203,871 1,904,368 - 28,011,960 1,012,984 31,910,239 3,483,286 27,954,580 279,960,413 37,622,913 5,935,259 187,538,004 5,606,830 33,889,839 467,498,417 43,229,743 Total liabilities 402,848,136 206,188,332 609,036,468 24,636,837 6,664,088 31,300,925 1,956,781 1,956,781 26,593,618 6,664,088 33,257,706 505,965,429 276,352,992 782,318,421 26,425,693 6,586,516 42,926,278 82,740,935 130,927,545 20,881,614 396,377 31,984,374 47,307,307 6,586,516 43,322,655 82,740,935 162,911,919 329,615,357 $ 1,125,187,753 Deferred Inflows of Resources Deferred inflows related to pensions/OPEB Deferred inflows related to leases Total deferred inflows Net Position Net investment in capital assets Restricted for: Capital projects Community facilities Debt service Other purposes Unrestricted Total net position $ 795,572,396 $ The accompanying notes are an integral part of the financial statements. Page 33 CITY OF GOODYEAR, ARIZONA Statement of Activities For the Year Ended June 30, 2022 Functions/Programs Expenses Governmental activities: General government Public safety Highways and streets Public works Culture and recreation Development services Interest on long-term debt $ Total governmental activities Business-type activities: Water and wastewater Sanitation Total business-type activities Total primary government $ 34,157,389 64,651,123 23,563,017 5,602,891 25,843,304 14,906,593 9,236,464 Charges for Services $ 4,052,068 8,569,570 722,058 603,704 4,322,415 17,598,359 - Program Revenues Operating Capital Grants & Grants & Contributions Contributions $ 3,431,239 7,947,775 6,918,602 260,979 249,237 1,527,068 $ 1,967,363 7,272,688 25,948,970 395,000 4,755,295 1,853,190 - 177,960,781 35,868,174 20,334,900 42,192,506 49,204,444 7,314,418 53,394,756 7,683,528 - 11,254,372 - 56,518,862 61,078,284 - 11,254,372 234,479,643 $ 96,946,458 $ 20,334,900 General Revenues: Taxes: City sales tax Franchise tax Property tax Auto lieu tax (unrestricted) State sales tax (unrestricted) Urban revenue sharing (unrestricted) Unrestricted investment earnings Other Transfers Total general revenues & transfers Change in net position Net position - beginning Prior period adjustment Net position - ending The accompanying notes are an integral part of the financial statements. Page 34 $ 53,446,878 Net (Expense) Revenue and Changes in Net Position Governmental Activities $ $ Business-type Activities (24,706,719) (40,861,090) 10,026,613 (4,604,187) (16,504,615) 4,794,193 (7,709,396) $ - Total $ (24,706,719) (40,861,090) 10,026,613 (4,604,187) (16,504,615) 4,794,193 (7,709,396) (79,565,201) - (79,565,201) - 15,444,684 369,110 15,444,684 369,110 - 15,813,794 15,813,794 122,858,885 3,880,685 28,180,626 4,066,108 13,422,577 12,361,506 (3,080,671) 1,240,870 8,015,934 190,946,520 111,381,319 689,366,231 (5,175,154) 795,572,396 33,866 35,570 (8,015,934) (7,946,498) 7,867,296 321,748,061 329,615,357 122,858,885 3,880,685 28,180,626 4,066,108 13,422,577 12,361,506 (3,046,805) 1,276,440 183,000,022 119,248,615 1,011,114,292 (5,175,154) $ 1,125,187,753 $ The accompanying notes are an integral part of the financial statements. Page 35 Page 36 FUND FINANCIAL STATEMENTS Page 37 CITY OF GOODYEAR, ARIZONA Balance Sheet Governmental Funds June 30, 2022 General ASSETS Cash and cash equivalents Investments Receivables: Taxes Interest Other Assessments Intergovernmental Lease receivable Due from other funds Inventories Prepaid items Notes receivable Restricted cash and investments Total assets LIABILITIES Accounts payable Accrued wages and benefits Accrued interest payable Accrued liabilities Deposits held Due to other funds Current bonds payable Unearned revenue $ 26,665,391 160,494,655 Non-Utility Development Impact Fees Capital Projects GO Bonds Capital Projects $ $ 16,657,764 9,164 1,353,155 1,791,168 6,659,301 1,448,680 299,683 1,675,250 7,990,919 65,284,117 15,613,535 4,728 - 7,688,945 27,494,707 $ 225,045,130 $ 80,902,380 $ 35,183,652 $ 5,020,167 1,429,660 68 1,219,686 29,815,663 25,808 $ 340,045 221,792 - $ 8,673,242 8,718 75,999 - Total liabilities 37,511,052 561,837 8,757,959 Unavailable revenue-property taxes Unavailable revenue-special assessments Unavailable revenue-intergovernmental Unavailable revenue-other Deferred inflows related to leases 132,982 1,675,250 6,664,088 - - Total deferred inflows of resources 8,472,320 - - 299,683 2,236,280 150,147,206 26,378,589 80,340,543 - 26,425,693 - 179,061,758 80,340,543 26,425,693 DEFERRED INFLOWS OF RESOURCES FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 225,045,130 $ 80,902,380 The accompanying notes are an integral part of the financial statements. Page 38 $ 35,183,652 McDowell Road Commercial Corridor ID Debt Service Community Facilities Districts Debt Service $ $ 940,319 20,382,193 - - Non-major Funds $ 97,193 19,220,855 6,615,904 14,446,955 1,314,354 Total Governmental Funds $ 157,287 21,312 2,169,294 1,027,794 323,750 - 115,025,727 177,422,544 16,912,244 9,164 1,379,195 39,603,048 3,960,462 6,659,301 1,448,680 1,327,477 323,750 1,675,250 42,101,530 $ 21,322,512 $ 25,933,952 $ 19,460,746 $ 407,848,372 $ 85 4,375 $ 900 1,012,916 4,342,000 - $ 734,835 68,122 30,221 190,208 1,372,681 3,453,103 $ 14,769,274 1,497,782 1,012,984 1,480,417 30,005,871 1,448,680 4,342,000 3,483,286 $ 4,460 5,355,816 5,849,170 58,040,294 20,382,193 - 19,220,855 - 99,502 94 - 232,484 39,603,048 94 1,675,250 6,664,088 20,382,193 19,220,855 99,596 48,174,964 935,859 - 1,357,281 - 1,351,544 7,780,718 4,754,655 (374,937) 1,651,227 119,076,374 4,754,655 150,147,206 26,003,652 935,859 1,357,281 13,511,980 301,633,114 21,322,512 $ 25,933,952 $ 19,460,746 $ 407,848,372 Page 39 Page 40 CITY OF GOODYEAR, ARIZONA Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position June 30, 2022 Total governmental fund balances $ 301,633,114 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. Governmental capital assets Less accumulated depreciation $ 1,088,875,255 (316,611,136) 772,264,119 Net OPEB asset is not an available resource and, therefore is not reported in the funds. Some liabilities, including bonds payable and capital leases, are not due and payable in the current period and therefore are not reported in the funds. Bonds payable Deferred charge on refunding Leases payable Net pension and OPEB liabilities Compensated absences 1,861,629 $ (299,297,332) 5,583,309 (79,374) (37,622,913) (8,538,287) (339,954,597) Some receivables are not available to pay for current period expenditures and, therefore, are reported as unavailable revenues in the funds. Property taxes Special assessments Intergovernmental Other $ 232,484 39,603,048 94 1,675,250 41,510,876 Internal service funds are used by management to charge costs of certain activities to individual funds. This amount represents the assets and liabilities of the internal service funds reported as governmental activities Deferred outflows and inflows of resources related to pensions and OPEB are applicable to future reporting periods and, therefore, are not reported in the funds. Deferred outflows Deferred inflows 8,462,867 $ 34,431,225 (24,636,837) 9,794,388 Total net position of governmental activities $ The accompanying notes are an integral part of the financial statements. Page 41 795,572,396 CITY OF GOODYEAR, ARIZONA Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds For the Year Ended June 30, 2022 General REVENUES Taxes Licenses, permits and fees Intergovernmental revenue Charges for services Fines and forfeitures Investment income Special assessments Contributions Other revenues $ Total revenues 127,848,317 16,654,379 41,645,739 3,654,047 1,138,437 (3,453,761) 1,895,854 1,833,313 Non-Utility Development Impact Fees Capital Projects GO Bonds Capital Projects $ $ 10,318,258 18,951,242 180,010 1,791 104,887 - 191,216,325 29,451,301 104,887 26,410,232 59,129,561 5,284 3,316,324 13,775,742 13,112,560 16,743,244 2,452,703 3,167,208 60,359,308 1,113,082 51,358 - 217,121 - 133,657,387 5,619,911 60,576,429 57,558,938 23,831,390 (60,471,542) 413,605 (41,887,213) 15,723,288 (1,933,890) 2,729,900 23,475,000 2,715,816 (3,653,395) 26,340,053 (25,750,320) 796,010 48,877,474 Net change in fund balances 31,808,618 24,627,400 (11,594,068) Fund balances, beginning of year 147,253,140 55,713,143 38,019,761 EXPENDITURES Current: General government Public safety Highways and streets Public works Culture and recreation Development services Capital outlay Debt service Debt issuance cost Principal Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Debt issuance Premium on debt issuance Sale of assets Transfers out Transfers in Total other financing sources (uses) Fund balances, end of year $ 179,061,758 $ 80,340,543 The accompanying notes are an integral part of the financial statements. Page 42 $ 26,425,693 McDowell Road Commercial Corridor ID Debt Service Community Facilities Districts Debt Service $ $ $ 3,640,847 1,128 6,531,771 6,064 2,716,419 - Non-major Funds $ 10,126,494 16,679,586 1,502,866 82,129 1,559,036 6,031 Total Governmental Funds $ 154,824,840 16,654,379 58,325,325 24,108,155 1,138,437 (3,080,671) 6,357,266 3,454,890 1,842,263 3,641,975 9,254,254 29,956,142 263,624,884 85 - 9,720 - 1,660,681 371,032 8,098,528 5,790,390 208,000 3,428,074 30,533,336 59,500,593 8,103,897 3,316,324 19,566,132 13,320,560 83,697,834 2,235,000 702,720 6,269,000 2,877,573 178,360 12,235,699 6,359,863 395,481 21,852,781 9,991,514 2,937,805 9,156,293 38,330,627 250,278,452 704,170 97,961 (8,374,485) 13,346,432 - - 598,000 (6,827,300) 17,524,491 24,073,000 2,715,816 413,605 (54,301,798) 62,317,732 - - 11,295,191 35,218,355 704,170 97,961 2,920,706 48,564,787 231,689 1,259,320 10,591,274 253,068,327 935,859 $ 1,357,281 $ 13,511,980 $ Page 43 301,633,114 Page 44 CITY OF GOODYEAR, ARIZONA Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balance of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2022 Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balances - total governmental funds Governmental funds report capital outlays as expenditures. However, in the statement of activities, the costs of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the difference between capital outlay and depreciation in the current period. Capital outlay Depreciation expense $ 48,564,787 $ 80,485,269 (24,254,801) 56,230,468 Governmental funds do not report contributions of capital assets as revenue, unless the assets will be held for sale. However, in the statement of activities, the donation of capital assets is reported as revenue. 8,433,358 Some revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. Property taxes $ 67,019 Special assessments (4,165,788) Intergovernmental (199,501) (4,298,270) The issuance of long-term debt (e.g., bonds, leases) provides current financial resources in the governmental funds but increases long-term liabilities in the statement of net position. (26,788,816) Repayment of long-term debt (e.g., bonds, leases) principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the statement of net position. Bond principal retirement $ 21,852,781 Amortization of deferred charges (721,533) Amortization of premiums and discounts 1,651,182 22,782,430 Pension and OPEB 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 net pension and OPEB liability is measured a year before the City's report date. Pension and OPEB expense, which is the change in the net pension and OPEB liability adjusted for changes in deferred outflows and inflows of resources related to pensions and OPEB, is reported in the Statement of Activities. Pension and OPEB contributions $ 14,064,633 Pension and OPEB expense (8,791,230) 5,273,403 Compensated absences are reported in the statement of activities and do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. Accrued interest for long-term debt is not reported as an expenditure for the current period while it is recorded in the statement of activities. The net revenues of certain activities of the internal service fund is reported with governmental activities. Change in net position of governmental activities (1,626,198) 220,882 2,589,275 $ 111,381,319 The accompanying notes are an integral part of the financial statements. Page 45 CITY OF GOODYEAR, ARIZONA Statement of Net Position Proprietary Funds June 30, 2022 Business-type Activities - Enterprise Funds ASSETS Current Assets: Cash Investments Receivables (net of allowance) Inventories Prepaid items Water & Wastewater $ 55,097,038 782,576 4,555,844 1,157,200 - Sanitation $ 4,313,340 194,699 482,569 119,601 - Totals $ 59,410,378 977,275 5,038,413 1,276,801 - Governmental Activities Self-Insurance Trust Internal Service Fund $ 8,976,294 131,563 73,626 Total current assets 61,592,658 5,110,209 66,702,867 9,181,483 Noncurrent Assets: Restricted cash and investments Net pension/OPEB asset Land Artwork Construction in progress Buildings Infrastructure Vehicles, furniture, and equipment Water rights Accumulated depreciation 458,356 181,609 8,155,895 146,978 123,940,030 172,615,299 241,889,244 19,218,896 21,088,078 (122,210,192) 30,096 150,522 1,906,159 (1,167,696) 458,356 211,705 8,155,895 146,978 123,940,030 172,765,821 241,889,244 21,125,055 21,088,078 (123,377,888) - Total noncurrent assets 465,484,193 919,081 466,403,274 - 527,076,851 6,029,290 533,106,141 9,181,483 DEFERRED OUTFLOWS OF RESOURCES Loss on refunding Deferred outflows related to pensions/OPEB Total deferred outflows of resources 2,784,033 1,604,224 4,388,257 266,072 266,072 2,784,033 1,870,296 4,654,329 - LIABILITIES Current liabilities: Accounts payable Accrued wages and benefits Accrued liabilities Claims payable Customer deposits Compensated absences - current portion Loans payable - current portion Bonds payable - current portion 4,477,276 99,411 184,212 1,879,618 414,331 295,674 5,151,505 424,482 18,490 24,750 73,749 - 4,901,758 117,901 184,212 1,904,368 488,080 295,674 5,151,505 33,406 21,543 663,667 - Total Assets Total current liabilities 12,502,027 541,471 13,043,498 718,616 Noncurrent liabilities: Compensated absences Net pension/OPEB liability Loans payable, net of current portion Bonds payable, net of current portion 294,104 4,809,753 1,902,451 185,272,980 68,469 797,077 - 362,573 5,606,830 1,902,451 185,272,980 - Total noncurrent liabilities Total liabilities 192,279,288 204,781,315 865,546 1,407,017 193,144,834 206,188,332 718,616 1,678,405 1,678,405 278,376 278,376 1,956,781 1,956,781 - 275,464,007 20,881,614 396,377 28,263,390 888,985 3,720,984 276,352,992 20,881,614 396,377 31,984,374 8,462,867 DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions/OPEB Total deferred inflows of resources NET POSITION Net investment in capital assets Restricted for capital projects Restricted for debt service Unrestricted Total net position $ 325,005,388 $ 4,609,969 $ 329,615,357 The accompanying notes are an integral part of the financial statements. Page 46 $ 8,462,867 CITY OF GOODYEAR, ARIZONA Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds For the Year Ended June 30, 2022 Business-type Activities - Enterprise Funds Water & Wastewater Operating Revenues Charges for services Self insurance premiums Other revenues $ Total operating revenues 52,994,849 399,907 Sanitation $ 7,658,250 25,278 Totals $ 60,653,099 425,185 Governmental Activities Self-Insurance Trust Internal Service Fund $ 12,589,374 563,215 53,394,756 7,683,528 61,078,284 13,152,589 Salaries, wages and benefits Cost of sales and services Claims expense Depreciation 6,897,572 26,074,644 10,083,801 1,180,075 5,899,572 234,771 8,077,647 31,974,216 10,318,572 1,785,897 8,777,417 - Total operating expenses 43,056,017 7,314,418 50,370,435 10,563,314 10,338,739 369,110 10,707,849 2,589,275 24,844 (6,148,427) 35,570 9,022 - 33,866 (6,148,427) 35,570 - (6,088,013) 9,022 (6,078,991) - 4,250,726 378,132 4,628,858 2,589,275 Capital contributions Transfers out 11,254,372 (6,554,122) (1,461,812) 11,254,372 (8,015,934) - Change in net position 8,950,976 (1,083,680) 7,867,296 2,589,275 316,054,412 5,693,649 321,748,061 5,873,592 Operating Expenses Operating income (loss) Non-operating Revenues (Expenses) Investment income Interest expense and fiscal charges Gain (loss) on sale of assets Total non-operating revenue (expense) Income (loss) before contributions and transfers Total net position, beginning of year Total net position, end of year $ 325,005,388 $ 4,609,969 $ 329,615,357 The accompanying notes are an integral part of the financial statements. Page 47 $ 8,462,867 CITY OF GOODYEAR, ARIZONA Statement of Cash Flows Proprietary Funds For the Year Ended June 30, 2022 Water & Wastewater Cash Flows From Operating Activities: Cash received from customers Cash received from contributions Cash paid to suppliers Cash paid to employees Cash paid for claims $ Cash flows from operating activities 57,409,472 (29,432,726) (6,191,463) - Sanitation $ 8,151,226 (6,053,895) (1,242,805) - Totals $ 65,560,698 (35,486,621) (7,434,268) - Self-Insurance Trust Internal Service Fund $ (131,563) 13,152,589 (1,901,191) 21,543 (8,811,344) 21,785,283 854,526 22,639,809 2,330,034 (6,554,122) (1,461,812) (8,015,934) - (6,554,122) (1,461,812) (8,015,934) - Cash Flows From Capital and Related Financing Activities: Proceeds from long term debt Purchase of capital assets Proceeds from sale of capital assets Principal paid on long term debt Interest paid Grant proceeds Development fees (29,764,273) 35,568 (5,289,179) (6,864,995) 11,254,372 (38,379) - (29,802,652) 35,568 (5,289,179) (6,864,995) 11,254,372 - Cash flows from capital and related financing activities (30,628,507) (38,379) (30,666,886) - Cash Flows From Investing Activities: Sale (purchase) of investments Investment income 1,198,141 24,844 589,409 9,022 1,787,550 33,866 - Cash flows from investing activities 1,222,985 598,431 1,821,416 - Net change in cash and cash equivalents Cash and cash equivalents, including temporarily restricted cash, beginning of year (14,174,361) (47,234) (14,221,595) 2,330,034 69,729,755 4,360,574 74,090,329 6,646,260 Cash Flows From Noncapital Financing Activities: Transfers Cash flows from noncapital financing activities Cash and cash equivalents, including temporarily restricted cash, end of year Reconciliation of operating income to net cash flows from operating activities: Net operating income (loss) Adjustments to reconcile operating income (loss) to net cash flows from operating activities: Depreciation/amortization Pension/OPEB expense Employer pension/OPEB contributions Changes in operating assets and liabilities: (Increase) decrease in receivables (Increase) decrease in prepaid items & deposits (Increase) decrease in inventory Increase (decrease) in payables Increase (decrease) in accrued liabilities & deposits Increase (decrease) in unearned revenue Net cash flows from operating activities $ 55,555,394 $ 4,313,340 $ 59,868,734 $ 8,976,294 $ 10,338,739 $ 369,110 $ 10,707,849 $ 2,589,275 $ 10,083,801 312,048 (591,540) 234,771 29,799 (98,030) 10,318,572 341,847 (689,570) - 4,040,379 (344,456) (3,013,626) 985,601 (25,663) 467,698 (119,601) (50,562) 21,341 - 4,508,077 (464,057) (3,064,188) 1,006,942 (25,663) (131,563) (32,164) (117,057) 21,543 - 21,785,283 $ 854,526 $ 22,639,809 The accompanying notes are an integral part of the financial statements. Page 48 $ 2,330,034 CITY OF GOODYEAR, ARIZONA Statement of Fiduciary Net Position Fiduciary Funds June 30, 2022 Pension Trust Fund Assets Cash and cash equivalents Mutual funds Exchange traded funds Total assets Net Position Restricted for: Pensions Individuals and organizations Total net position $ 18,358 214,128 387,622 620,108 620,108 $ 620,108 GAIN $ $ 8,679 8,679 8,679 8,679 Custodial Funds Shop with Fill-A-Need a Cop $ $ 13,005 13,005 13,005 13,005 $ $ 42,053 42,053 42,053 42,053 The accompanying notes are an integral part of the financial statements. Page 49 Arizona in Action $ $ 3,230 3,230 3,230 3,230 CITY OF GOODYEAR, ARIZONA Statement of Changes in Fiduciary Net Position Fiduciary Funds For the Year Ended June 30, 2022 Pension Trust GAIN Custodial Funds Shop with Fill-A-Need a Cop Arizona in Action $ $ Additions Investment Income Other income Total additions $ (89,150) 2,575 (86,575) Deductions Benefits Recipient payments Total deductions 16,077 16,077 - 5,826 5,826 6,770 6,770 - Net increase (decrease) in fiduciary net position (102,652) - (1,667) 5,730 - Net position, beginning of year 722,760 8,679 14,672 36,323 3,230 Net position, end of year $ 620,108 $ $ - 8,679 $ 4,159 4,159 13,005 $ $ 12,500 12,500 42,053 The accompanying notes are an integral part of the financial statements. Page 50 $ - 3,230 Notes to the Financial Statements The notes to the basic financial statements include a summary of significant accounting policies and other disclosures considered necessary for a clear understanding of the accompanying financial statements. Note Page 1. Summary of Significant Accounting Policies 53 2. Cash and Investments 64 3. Receivables 67 4. Capital Assets 68 5. Leases 69 6. Loan Payable 70 7. General Obligation Bonds Payable 71 8. Revenue Bonds Payable 72 9. Community Facilities Districts Bonds Payable 74 10. Changes in Long-Term Liabilities 75 11. Interfund Receivables, Payables, and Transfers 76 12. Contingent Liabilities 77 13. Risk Management 77 14. Pensions and Other Postemployment Benefits 78 15. Excess of Expenditures Over Appropriations 91 16. Fund Balance Classifications 91 17. Deficit Fund Balances 91 18. Commitments 92 19. Tax Abatement Agreements 93 20. Restatement of Net Position 94 Page 51 Page 52 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES ThefinancialstatementsoftheCityofGoodyear,Arizona(City)havebeenpreparedinconformitywith accountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaasappliedtogovernmentunits. The Governmental Accounting Standards Board (GASB) is the accepted standardͲsetting body for establishinggovernmentalaccountingandfinancialreportingprinciples. A.ReportingEntity TheCityisamunicipalentitygovernedbyanelectedmayorandsixͲmembergoverningcouncil(council). AsrequiredbyaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica,thesefinancial statementspresenttheCityanditsblendedcomponentunits,entitiesforwhichtheCityisconsidered financiallyaccountable.InaccordancewithGASBStatementNo.14,andasamendedbyGASBStatement No.61,thecomponentunitsdiscussedbelowhavebeenincludedintheCity’sreportingentitybecauseof thesignificanceoftheiroperationalorfinancialrelationshipwiththecity. Thefinancialreportingentityconsistsofaprimarygovernment,anditscomponentunits.TheCityisa primary government that has a separately elected governing body, is legally separate, and is fiscally independentofotherstateorlocalgovernments.Furthermore,componentunitsarecombinedwiththe City for financial statement presentation purposes and are not included in any other governmental reportingentity.Consequently,theCity’sfinancialstatementsincludethefundsofthoseorganizational entitiesforwhichitselectedgoverningbodyisfinanciallyaccountable. BlendedComponentUnitsͲCommunityFacilitiesDistrictswereformedforthepurposeofacquiringand improvingpublicinfrastructureinspecifiedlandareas.Asspecialpurposedistrictsandseparatepolitical subdivisionsundertheArizonaConstitution,theDistrictscanlevytaxesandissuebondsindependentlyof theCity.PropertyownersinthedesignatedareasareassessedforDistricttaxesandthusforthecostof operatingtheDistricts.TheCityCouncilservesastheBoardofDirectors;however,theCityhasnoliability fortheDistricts’debt.AlthoughitislegallyseparatefromtheCity,theDistrictsarereportedasifitispart of the primary government because the District’s governing body is substantively the same as the governingbodyoftheCityandmanagementoftheCityhasoperationalresponsibilityfortheDistricts. ThefollowingarethecommunityfacilitiesdistrictscurrentlyoperatingintheCityofGoodyear. x x x x x x x x x x GoodyearCommunityFacilitiesGeneralDistrictNo.1 GoodyearCommunityFacilitiesUtilitiesDistrictNo.1 WildflowerRanchCommunityFacilitiesDistrictNo.1 WildflowerRanchCommunityFacilitiesDistrictNo.2 EstrellaMountainRanchCommunityFacilitiesDistrict CottonflowerCommunityFacilitiesDistrict CenterraCommunityFacilitiesDistrict CortinaCommunityFacilitiesDistrict PalmValleyCommunityFacilitiesDistrictNo.3 KingRanchCommunityFacilitiesDistrict Complete financial statements of the individual component units may be obtained at the entities’ administrativeofficesoronlineatwww.goodyearaz.gov/cfd.  Page 53 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES B.GovernmentͲWideandFundFinancialStatements The governmentͲwide financial statements (i.e., the statement of net position and the statement of activities) present financial information about the City as a whole. Generally, the effect of interfund activityhas beenremovedfrom thegovernmentͲwidefinancialstatements.Netinterfund activityand balances between the governmental activities and the businessͲtype activities are shown in the governmentͲwidefinancialstatements.The“doublingup”effectofinternalservicefundactivityhasbeen removedfromthegovernmentͲwidestatementswiththeexpensesshowninthevariousfunctionsonthe StatementofActivities.ThesestatementsaretodistinguishbetweenthegovernmentalandbusinessͲtype activities of the City. Governmental activities normally are supported by taxes and intergovernmental revenues,andarereportedseparatelyfrombusinessͲtypeactivities,whichrelytoasignificantextenton feesandcharges. TheStatementofActivitiesdemonstratesthedegreetowhichthedirectexpensesofagivenfunctionor segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirementsofaparticularfunctionorsegment.Taxes,stateͲsharedrevenues,investmentincomeand otheritemsnotincludedamongprogramrevenuesarereportedinsteadasgeneralrevenues. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the governmentͲwide financial statements. Major individualgovernmentalfundsandmajorindividualenterprisefundsarereportedasseparatecolumnsin thefundfinancialstatements. C.FundBalances–GovernmentalFunds AsofJune31,2022,fundbalancesofthegovernmentalfundsareclassifiedasfollows: NonspendableͲamountsthatcannotbespenteitherbecausetheyareinnonspendableformorbecause theyarelegallyorcontractuallyrequiredtobemaintainedintact. RestrictedͲamountsthatcanbespentonlyforspecificpurposesbecauseofconstitutionalprovisionsor enabling legislation or because of constraints that are externally imposed by creditors, grantors, contributors,orthelawsorregulationsofothergovernments. CommittedͲamountsthatcanbeusedonlyforspecificpurposesdeterminedbyaformalactionofCity Council.CityCouncilisthehighestlevelofdecisionͲmakingauthorityfortheCity.Commitmentsmaybe established,modified,orrescindedonlythroughresolutionsapprovedbyCityCouncil. AssignedͲamountsthatdonotmeetthecriteriatobeclassifiedasrestrictedorcommittedbutthatare intendedtobeusedforspecificpurposes.UndertheCity’sadoptedpolicy,theCityappropriatesfunding for information technology (IT) replacement, fleet replacement, risk management, police and fire equipment,parksandtrafficsignalassetmanagementreserves.Inaddition,amountsencumberedrelated Page 54 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES to projects that carry over into the next fiscal year are reported as assigned. The accumulated appropriationsforthesepurposeswhichhavenotbeenspentarereflectedasassignedfundbalances. OnlyCityCouncilortheCity’sFinanceDirectormayassignamountsforspecificpurposes. UnassignedͲincludesallspendableamountsnotcontainedintheotherclassifications.TheGeneralFund istheonlyfundthatcanreportapositiveunassignedfundbalance.Inothergovernmentalfunds,other than the general fund, if expenditures incurred for specific purposes exceed the amounts that are restricted,committed,orassignedtothosepurposes,itmaybenecessarytoreportanegativeunassigned fundbalanceinthatfund. TheGeneralFundhasUnassignedFundsconsistingofacontingencyreserve.Thecontingencyreserveis usedtosetasideresourcestocoverunanticipateddeficitsorrevenuereductionsthatmaybecausedby adverseeconomicconditionsorpublicemergency.Theamountofthecontingencyreserveisequaltoor greaterthan15percentoffiscalyear2022onͲgoingrevenues. Whenanexpenditureisincurredforpurposesforwhichbothrestrictedandunassignedfundbalanceis available,theCityconsidersrestrictedfundstohavebeenspentfirst.Whenanexpenditureisincurred forwhichcommitted,assigned,orunassignedfundbalancesareavailable,theCityconsidersamountsto have been spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed,unlessCityCouncilortheCity’sFinanceDirectorhasprovidedotherwiseinitscommitmentor assignmentactions. D.MeasurementFocus,BasisofAccounting,andFinancialStatementPresentation GovernmentͲwideFinancialStatementsͲThegovernmentͲwidefinancialstatementsarereportedusing theeconomicresourcesmeasurementfocusandtheaccrualbasisofaccounting,asaretheproprietary fund financial statements. Revenues are recorded when earned, and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenuesintheyearforwhichtheyarelevied.Grantsandsimilaritemsarerecognizedasrevenuesas soonasalleligibilityrequirementsimposedbythegrantororproviderhavebeenmet.Asageneralrule, theeffectoninternalactivityhasbeeneliminatedfromthegovernmentͲwidefinancialstatements. Fund Financial Statements Ͳ Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognizedassoonastheyarebothmeasurableandavailable.Revenuesareconsideredtobeavailable whentheyare collectible withinthecurrentperiod orsoonenough thereaftertopayliabilitiesofthe currentperiod.Forthispurpose,theCityconsidersrevenuestobeavailableiftheyarecollectedwithin 60daysoftheendofthecurrentfiscalperiod. Expenditures are generally recognized when the related fund liability is incurred, as under accrual accounting. However, debt services principal and interest expenditures on general longͲterm debt, including lease liabilities, as well as expenditures related to compensated absences, and claims and judgments,postemploymentbenefitsarerecognizedlaterbasedonspecificaccountingrulesapplicable Page 55 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES to each, generally when payment is due. General capital asset acquisitions, including entering into contracts giving the City the right to use leased assets, are reported as expenditures in governmental funds.IssuanceoflongͲtermdebtandfinancingthroughleasesarereportedasotherfinancingsources. Propertytaxes,salestaxes,franchisetaxes,licenses,andinterestassociatedwiththecurrentfiscalperiod areallconsideredtobesusceptibletoaccrualandsohavebeenrecognizedasrevenuesofthecurrent fiscalperiod.Grantsandsimilarawardsarerecognizedasrevenuesassoonasalleligibilityrequirements aremet,includinganytimerequirements,andtheamountisreceivedduringtheperiodorwithinthe availability period for this revenue source (within 60 days of yearͲend). All other revenue items are consideredtobemeasurableandavailableonlywhencashisreceivedbytheCity.  TheCityreportsthefollowingmajorgovernmentalfunds: GeneralFundͲThisfundisthegeneraloperatingfundoftheCity.Itaccountsforallfinancialresourcesof theCity,exceptthoseeitherrequiredtobeaccountedforinotherfundsorwhenthecitydetermines thereisanoperationaladvantagetodoso. NonͲUtilityDevelopmentImpactFeesCapitalProjectsͲThisfundaccountsforthecapitalprojectsfunded withdevelopmentimpactfees. GOBondCapitalProjectsFundͲThisfundaccountsforthecapitalprojectsfinancedbygeneralobligation bonddebt. McDowellRoadCommercialCorridorImprovementDistrictDebtServiceFundͲThisfundaccountsforthe debtportionoftheMcDowellRoadImprovementDistrict. CommunityFacilitiesDistrictsͲDebtServiceFundͲThisfundaccountsforthedebtportionoftheCity’s CommunityFacilitiesDistricts,whicharecomponentunitsthatprovidegeneralinfrastructureandcapital assetsforthepropertywithineachDistrict’sboundaries. TheCityreportsthefollowingnonͲmajorgovernmentalfundsareasfollows: Highway User Revenue Fund (HURF) – This fund accounts for the City's share of tax revenues legally restrictedtothemaintenanceofthehighwayswithintheCity'sboundaries.  CommunityFacilitiesDistricts–Thisfundaccountsfortheoperationsandmaintenanceportionofthe City’sspecialdistrictsformedforthepurposeoffinancingtheacquisition,construction,operation,and maintenanceofthepublicinfrastructurebenefitingthecommunity. Office of Tourism Prop 302 – This fund accounts for the funds received to support Maricopa County tourism,marketing,andpromotion. GrantsFunds–ThisfundaccountsfortheCity'sfederal,state,localandtribalgrants.  BallparkFund–ThisfundaccountsfortheoperationsoftheCity’sballparkfacilityandoperations.  Page 56 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES Debt Service Fund – This fund accounts for debt proceeds and the accumulation of resources for the paymentofprincipalandinterestandrelatedcosts.  Thefocusofgovernmentalfundfinancialstatementsisonmajorfundsratherthanreportingfundsby type.Eachmajorfundispresentedinaseparatecolumn.NonͲmajorfundsareaggregatedandpresented inasinglecolumn. TheCityreportsthefollowingmajorproprietaryfunds: WaterandWastewaterFundͲThisfundaccountsfortheCity’swaterandwastewaterutilityoperations, includingtheutilitydevelopmentimpactfees. InternalServiceFund–ThisfundisusedtoaccountforselfͲinsuranceforemployeebenefits.TheInternal servicefundactivitiesarereportedasgovernmentalactivitiesonthegovernmentͲwidestatements. TheCityreportsthefollowingnonͲmajorproprietaryfunds: SanitationFundͲThisfundisusedtoaccountfortheactivitiesoftheCity’ssanitationoperations. Proprietary funds distinguish operating revenues and expenses from nonͲoperating items. Operating revenuesandexpensesgenerallyresultfromprovidingservicesandproducinganddeliveringgoodsin connectionwithaproprietaryfund’sprincipalongoingoperations.Theprincipaloperatingrevenuesof the City’s enterprise funds are charges to customers for water, wastewater, and sanitation services. Operatingexpensesforthesefundsincludetheadministrativeexpenses,costofsalesandservices,and depreciation. All revenues and expenses not meeting this definition are reported as nonͲoperating revenuesandexpenses. TheCityreportsthefollowingfiduciaryfunds: PensionTrustFund–ThisfundisusedtoaccountfortheGoodyearVolunteerandReserveFirefighter RetirementTrustPlanFund,adefinedcontributionplanforwhichtheassetsareheldbytheCityina trusteecapacity.ThePensionTrustFundisreportedusingtheaccrualbasisofaccounting. CustodialFunds–TheCityholdstheseassetsasanagentforindividuals,privateorganizationsorothers in a temporary custodial capacity. The City currently maintains four custodial funds. The four funds accountformoniesdonatedbyindividualsfortheGAIN,FillͲAͲNeed,ShopWithACop,andArizonain Actionactivities. FiduciaryfundsaccountforassetsheldbytheCityinatrusteeorcustodialcapacityonbehalfofothers. Thereportingfocusisuponnetpositionandchangesinnetpositionandemploysaccountingprinciples similartoproprietaryfunds. FiduciaryfundsarenotincludedinthegovernmentͲwidefinancialstatementsconsideringtheyarenot assetsoftheCityavailabletosupportCityprograms.  Page 57 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES E.CashandCashEquivalents Cashrepresentsamountsindemanddepositsandamountsheldintrustbyfinancialinstitutions.Thefunds heldintrustareavailabletotheCityupondemand.TheCityconsidersshortͲterminvestments(including restrictedassets)intheStateofArizonainvestmentpool,mutualfundͲmoneymarket,U.S.Treasurybills andnoteswithmaturitiesofthreemonthsorlessatacquisitiondatetobecashequivalents. F.Investments Goodyear maintains investment accounts for funds that are not legally required to be maintained separately.Eachfund'sequityininvestmentsrepresentsthatfund'spositionintheconsolidatedaccounts and determines that fund's allocation of interest earned. Arizona Revised Statutes regulate the investmentofsurpluscash.GoodyearlimitsitsinvestmentstoU.S.governmentsecurities,certificatesof deposit, bonds, repurchase agreements, corporate notes, commercial paper, and money market accounts.Investmentsarestatedatfairvaluebasedonquotedmarketpricesandcashequivalentsare statedatamortizedcost. G.ReceivablesandPayables Activitybetweenfundsthatarerepresentativeoflending/borrowingarrangementsoutstandingatthe endofthefiscalyeararereferredtoaseither“dueto/fromotherfunds”(i.e.,thecurrentportionofinterͲ fundloans)or“advancesto/fromotherfunds”(i.e.,thenonͲcurrentportionoftheinterͲfundloans). All trade and property tax receivables are shown net of allowance for uncollectibles. Trade accounts receivableinexcessof180dayscomprisethetradeaccountsreceivablesallowanceforuncollectibles. PropertytaxesareleviedbytheCityandcollectedbytheMaricopaCountyTreasurer.Propertytaxesare leviednolaterthanthethirdMondayofAugustandarepayableintwoinstallmentsdueOctober1ofthe currentyearandMarch1ofthesubsequentyear.Taxesbecomedelinquentafterthefirstbusinessday ofNovemberandMay,respectively.Interestattachesoninstallmentsafterthedelinquentdate.Alien attaches to the property on the first day of January preceding the assessment and levy of taxes. Delinquentamountsbearinterestattherateof16percent.MaricopaCounty,atnochargetothetaxing entities, bills and collects all property taxes. Public auctions of properties which have delinquent real estatetaxesareheldinFebruary. H.Inventory InventoriesarevaluedataveragecostusingthefirstͲin,firstͲout(FIFO)flowmethod.Inventory,which consists of expendable supplies and vehicle repair parts, is recorded as an expenditure at the time individualinventoryitemsareconsumedratherthanwhenpurchased. I.PrepaidItems Certainpaymentstovendorsreflectcostsapplicabletofutureaccountingperiodsandarerecordedas prepaiditemsinboththegovernmentͲwideandfundfinancialstatements.Thecostofprepaiditemsis recordedasexpenditureswhenconsumedratherthanwhenpurchased. Page 58 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES J.RestrictedAssets Certain proceeds of the City’s bonds, as well as certain resources set aside for their repayment, are classifiedasrestrictedcashandcashequivalentsonthegovernmentͲwideStatementofNetPosition,the BalanceSheetandProprietaryStatementofNetPositionbecausetheiruseislimitedbyapplicablebond covenants.Additionally,certainresourcesappropriatedtotheCityforaspecificprojectbytheStateof Arizona, Department of Transportation, are classified as restricted cash and cash equivalents on the governmentͲwide Statement of Net Position because their use is limited by an intergovernmental agreement.TheCityalsorestrictsthecashandcashequivalentsintheCommunityFacilitiesDistrictsDebt ServiceFund. K.CapitalAssets Capitalassetsaretangibleandintangibleassets,whichincludeland,landimprovements,artwork,rightof way,streetscape,buildingsandimprovements,vehicles,machinery,equipment,constructioninprogress, andinfrastructureassets(e.g.,roads,bridges,sidewalks,andsimilaritems),arereportedintheapplicable governmentalorbusinessͲtypeactivitiescolumnsinthegovernmentͲwidefinancialstatements.TheCity definescapitalassetsasassetswithaninitial,individualcostof$5,000ormoreandanestimateduseful life of more than one year. Capital assets are recorded at historical cost if purchased or constructed. Donatedcapitalassetsarerecordedatestimatedacquisitionvalueatthedateofdonation. Thecostsofnormalmaintenanceandrepairsthatdonotaddtothevalueoftheassetormateriallyextend thelifeoftheassetarenotcapitalized.Majoroutlaysforcapitalassetsandimprovementsareaccounted forasconstructionworkinprogressuntilcompleted.Oncecompletedandputintoservice,projectsare capitalized and reported at historical cost (except for intangible rightͲtoͲuse lease assets, the measurementofwhichisdiscussedinnoteMbelow).  Landandconstructioninprogressarenotdepreciated.Theothertangibleandintangibleproperty,plant, equipment, the right to use leased equipment, and infrastructure of the primary government are depreciated/amortizedusingthestraightͲlinemethodoverthefollowingestimatedusefullives: Assets Infrastructure LandImprovements BuildingsandImprovements RightͲtoͲuseleasedequipment Vehicles,FurnitureandEquipment WaterRights        Years 20Ͳ65 15 7Ͳ50 5Ͳ20 3Ͳ20 100  TheCityhasacollectionofartworkspresentedinbuildingsandpublicoutdoorspaces.Thetruevalueof the art is expected to either be maintained at cost or appreciate over time, and thus, the art is not depreciated.Ifindividualpiecesarelostordestroyed,thelossisrecorded.   Page 59 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES L.DeferredOutflows/InflowsofResources Inadditiontoassets,thestatementofnetpositionreportsaseparatesectionfordeferredoutflowsof resources. This separate financial statement element, deferred outflows of resources, represents a consumptionofnetpositionthatappliestoafutureperiod(s)andsowillnotberecognizedasanoutflow ofresources(expense/expenditure)untilthen.TheCityhasthreeitemsthatqualifyforreportinginthis category. It is the deferred charge on refunding reported in the governmentͲwide statement of net position,anddeferredamountsrelatedtopensionsandOPEB.Thedeferredchargeonrefundingresulted fromthedifferencebetweenthecarryingvalueofrefundeddebtandisreacquisitionprice.Theamount isdeferredandamortizedovertheshorterofthelifeoftherefundedorrefundingdebt.Thedeferred amounts related to pension and OPEB related differences between estimated and actual investment earnings,changesinactuarialassumptions,andotherpensionandOPEBrelatedcharges. Inadditiontoliabilities,thestatementofnetpositionreportsaseparatesectionfordeferredinflowsof resources.Deferredinflowsofresources,representsanacquisitionofnetpositionthatappliestoafuture period(s)andsowillnotberecognizedasaninflowofresources(revenue)untilthattime.TheCityhas threeitemsthatqualifyforreportinginthiscategory.Unavailablerevenue,whicharisesonlyundera modified accrual basis of accounting, is reported on the governmental funds balance sheet. The governmentalfundsreportunavailablerevenuesfromfoursources:propertytaxes,specialassessments, otherandintergovernmental.Theseamountsaredeferredandrecognizedasaninflowofresourcesin the period that the amounts become available. In the governmentͲwide financial statements the City reportsdeferredamountsrelatedtoleasesanddeferredamountsrelatedtopensionandOPEB. M.Leases Lessee:TheCityisalesseeforanoncancellableleasefortheuseofparkingandstorageareas.TheCity recognizesaleaseliabilityandanintangiblerightͲtoͲuseleaseasset(leaseasset)inthegovernmentͲwide financialstatements.TheCityrecognizesleaseliabilitieswithaninitial,individualvalueof$5,000ormore. Atthecommencementof alease,the Cityinitially measurestheleaseliabilityatthe presentvalueof paymentsexpectedtobemadeduringtheleaseterm.Subsequently,theleaseliabilityisreducedbythe principalportionofleasepaymentsmade.Theleaseassetisinitiallymeasuredastheinitialamountofthe leaseliability,adjustedforleasepaymentsmadeatorbeforetheleasecommencementdate,pluscertain initialdirectcosts.Subsequently,theleaseassetisamortizedonastraightͲlinebasisoveritsusefullife. KeyestimatesandjudgmentsrelatedtoleasesincludehowtheCitydetermines(1)thediscountrateit usestodiscounttheexpectedleasepaymentstopresentvalue,(2)leaseterm,and(3)leasepayments. x TheCityusestheinterestratechargedbythelessorasthediscountrate.Whentheinterestrate chargedbythelessorisnotprovided,theCitygenerallyusesitsestimatedincrementalborrowing rateasthediscountrateforleases. x Theleasetermincludesthenoncancellableperiodofthelease.Leasepaymentsincludedinthe measurementoftheleaseliabilityarecomposedoffixedpaymentsandpurchaseoptionprice thattheCityisreasonablycertaintoexercise. Page 60 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasuretheleaseassetandliabilityifcertainchangesoccurthatareexpectedtosignificantlyaffectthe amountoftheleaseliability. Leaseassetsarereportedwithothercapitalassetsandleaseliabilitiesarereportedwithlongtermdebt onthestatementofnetposition. Lessor: The City is a lessor for a noncancellable lease of a licensed areas, fiber optic communications systems, and certain buildings and common areas at the Goodyear Municipal Complex. The City recognizes a lease receivable and a deferred inflow of resources in the governmentͲwide and governmentalfundfinancialstatements. Atthecommencementofalease,theCityinitiallymeasurestheleasereceivableatthepresentvalueof paymentsexpectedtobereceivedduringtheleaseterm.Subsequently,theleasereceivableisreduced bytheprincipalportionofleasepaymentsreceived.Thedeferredinflowofresourcesisinitiallymeasured astheinitialamountoftheleasereceivable,adjustedforleasepaymentsreceivedatorbeforethelease commencementdate.Subsequently,thedeferredinflowofresourcesisrecognizedasrevenueoverthe lifeoftheleaseterm. KeyestimatesandjudgmentsincludehowtheCitydetermines(1)thediscountrateitusestodiscountthe expectedleasereceiptstopresentvalue,(2)leaseterm,and(3)leasereceipts. • TheCityusesitsestimatedincrementalborrowingrateasthediscountrateforleases. • The leasetermincludes thenoncancellableperiod ofthelease. Leasereceiptsincludedinthe measurementoftheleasereceivableiscomposedoffixedpaymentsfromthelessee. TheCitymonitorschangesincircumstancesthatwouldrequirearemeasurementofitslease,andwill remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expectedtosignificantlyaffecttheamountoftheleasereceivable. N.CompensatedAbsences TheCity’semployeevacationandsickleavepoliciesprovideforgrantingvacationandsickleavewithpay. Sickleaveandvacationbenefitsvestattheemployee’scurrentrateofpay.ThecurrentandlongͲterm liabilities for accumulated vacation and sick leave are reported on the governmentͲwide financial statementsandintheproprietaryfundfinancialstatements.Aliabilityfortheseamountsisreportedin governmentalfundsonlyiftheyhavematured,forexample,asaresultofemployeeleave,resignation andretirements.ResourcesfromtheGeneralFundaregenerallyusedtoliquidatethegovernmentalfunds liabilitiesforcompensatedabsences. O.LongͲtermObligations InthegovernmentͲwidefinancialstatementsandproprietaryfundfinancialstatements,longͲtermdebt and other longͲterm obligations are reported as liabilities on the statement of net position. Bond premiumsanddiscountsareamortizedoverthelifeofthebondsusingthestraightͲlinemethod.Deferred Page 61 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES amountsonrefundingresultfromthedifferencebetweenthecarryingvalueofrefundeddebtandits reacquisitionprice.Thisamountisdeferredandamortizedovertheshorterofthelifeoftherefundedor refundingdebt. Inthefundfinancialstatements,governmentalfundtypesrecognizebondpremiumsanddiscounts,as wellasbondissuancecosts,duringthecurrentperiod.Thefaceamountofdebtissuedisreportedas otherfinancingsources.Premiumsreceivedondebtissuancesarereportedasotherfinancingsources whilediscountsondebtissuancesarereportedasotherfinancinguses.Issuancecosts,whetherornot withheldfromtheactualdebtproceedsreceived,arereportedasdebtserviceexpenditures. P.InterͲfundActivity FlowsofcashfromonefundtoanotherwithoutarequirementforrepaymentarereportedasinterͲfund transfers.InterͲfundtransfersbetweengovernmentalfundsareeliminatedintheStatementofActivities. InterͲfund services provided and used are not eliminated in the process of consolidation. InterͲfund transfersinthefundstatementsarereportedasotherfinancingsources/usesingovernmentalfundsand fallbelowthenonͲoperatingrevenues/expensesintheproprietaryfunds. Q.Estimates Thepreparationofthefinancialstatementsinconformitywithaccountingprinciplesgenerallyaccepted intheUnitedStatesofAmericarequiresmanagementtomakeestimatesandassumptionsthataffectthe amountsreportedinthefinancialstatementsandaccompanyingnotes.Actualresultsmaydifferfrom thoseestimates. R.BudgetaryData AccordingtothelawsoftheStateofArizona,alloperatingbudgetsmustbeapprovedbytheirgoverning boardonorbeforethesecondMondayinAugusttoallowsufficienttimeforlegalannouncementsand hearingsrequiredfortheadoptionofthepropertytaxlevyonthethirdMondayinAugust. InApril,theproposedbudgetforthefollowingfiscalyearispresentedbytheCityManagertotheCity Council.Thebudgetincludesproposedexpendituresandthemeansoffinancingthem.Apublicmeeting isheldtoobtaincitizencomment. PriortoJune30,theCityCouncillegallyenactsthebudget,throughthepassageofanordinance.The ordinance sets the limit for expenditures for the year, within the voter mandated state expenditure limitation.AdditionalexpendituresmaybeauthorizedifdirectlynecessitatedbyanaturalormanͲmade disasterasprescribedinthestateconstitution.Therewerenosupplementalappropriationsmadeduring fiscalyear2022. Themaximumlegalexpenditurepermittedfortheyearisthetotalbudgetasadopted.Allfundsofthe Cityhavelegallyadoptedbudgets.Theinitialbudgetforthefiscalyearmaybeamendedduringtheyear inalegallypermissiblemanner.TheCityadoptsthebudgetbymajorprogramareafortheGeneralFund andbyfundforallothers. Page 62 NOTE1SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES In practice, the City Council approves all budget transfers that cross appropriation lines on a monthly basis. All unencumbered expenditure appropriations expire at the end of the fiscal year. Encumbered amountsarereͲbudgetedinthefollowingyearasdeemedappropriateandnecessaryafterreviewbythe BudgetOffice.BudgetarycarryforwardsareapprovedbytheCityCouncilthroughthebudgetaryprocess. ThebudgetsareadoptedonabasisdifferingfromGAAPinthatforbudgetarypurposes:(1)bondproceeds for enterprise funds are considered revenue; (2) capital outlays for enterprise funds are treated as expenses;(3)debtserviceprincipalpaymentsaretreatedasexpensesforenterprisefunds;(4)accrued compensated absences are not recognized as expenses; (5) depreciation and amortization are not recognizedasexpenses;(6)contributionstopensionplansarerecognizedasanexpenseforenterprise funds. S.PensionsandOtherPostemploymentBenefits For purposes of measuring the net pension and other postemployment benefit (OPEB) assets and liabilities,relateddeferredoutflowsofresourcesanddeferredinflowsofresources,andrelatedexpenses, informationaboutthepensionandOPEBplans’fiduciarynetpositionandadditionsto/deductionsfrom theplans’fiduciarynetpositionhavebeendeterminedonthesamebasisastheyarereportedbythe plan.Forthispurpose,benefitpayments(includingrefundsofemployeecontributions)arerecognized whendueandpayableinaccordancewiththebenefitterms.Investmentsarereportedatfairvalue. T.NewPronouncements FortheyearendedJune30,2022,theCityimplementedtheprovisionsofGASBStatementNo.87,Leases. GASBStatementNo.87Isintendedtobettermeettheinformationneedsoffinancialstatementusersby improving accounting and financial reporting for leases by governments. The Statement increases the usefulnessoftheCity’sfinancialstatementsbyrequiringrecognitionofcertainleaseassetsandliabilities forleasesthatwerepreviouslyclassifiedasoperatingleasesandrecognizedasinflowsofresourcesor outflowsofresourcesbasedonthepaymentprovisionsofthecontract. For the year ended June 30, 2022, the City implemented the provisions of GASB Statement No. 89, AccountingforInterestCostsIncurredbeforetheendofaConstructionPeriod.GASBStatementNo.89is intendedtoenhancetherelevanceandcomparabilityofinformationaboutcapitalassetsandthecostof borrowingforareportingperiodandtosimplifyaccountingforinterestcostsincurredbeforetheendof aconstructionperiod. FortheyearendedJune30,2022,theCityimplementedtheprovisionsofGASBStatementNo.98,The Annual Comprehensive Financial Report. GASB Statement No. 98 establishes the term annual comprehensivefinancialreportanditsacronymACFR.Thenewtermandacronymreplaceinstancesof comprehensiveannualfinancialreportanditsacronymingenerallyacceptedaccountingprinciplesfor stateandlocalgovernments.    Page 63 NOTE2CASHANDINVESTMENTS OnJune30,2022,cashandcashequivalentsarepresentedasfollows:  The restricted cash and cash equivalents are proceeds from debt issuances that are held in trustee accountsforthepurposeofmajorcapitalimprovements,fundsheldintrusteeaccountsforthepurpose ofdebtservicepayments,amountsreceivedfromtheStateofArizona,DepartmentofTransportationfor aspecificproject,andcashandcashequivalentsintheCommunityFacilitiesDistrictsDebtServiceFund. Deposits The City maintains a cash and investment pool that is available for use by all funds. Each fund type’s portion of this pool is displayed on the governmentͲwide Statement of Net Position, and on the fund financialstatements,as“Cashandcashequivalents”and“Investments”. AtJune30,2022,theCityhad$11,780ofcashonhand.ThecarryingamountoftheCity’sdepositstotaled $47,948,724, and the bank balance was $51,043,073. Of the bank balance, $500,000 was covered by federaldepositoryinsurance,$51,297,379wascoveredbytheStatewidePooledCollateralProgram,and $482,445weresecuritiesheldbythepledgingfinancialinstitution’strustdepartmentintheCity’sname. CashEquivalents TheCityinvestsintheLocalGovernmentInvestmentPool5andPool7(LGIP)investmentpoolsmanaged bytheStateTreasurer’sOfficethatallowsgovernmentswithintheStatetopooltheirfundsforinvestment purposes.TheLGIPisnotregisteredwiththeSecuritiesExchangeCommissionunderthe1940Investment Advisors Act. The State Board of Investment has oversight responsibilities of the investment pool in accordancewithARS35Ͳ311.Thepool’spolicyistoinvestinfixedͲratesecuritieswithafinalmaturityless than18monthsfromthesettlementdateofthepurchaseandvariableͲratesecuritieswithfinalmaturity lessthan2years.Theweightedaveragetomaturityshallnotexceed90days.Thenetassetvalueper share of the pool at June 30, 2022 was $1.00. The Arizona State Treasurer issues a publicly available financialreportthatincludesfinancialstatementsandrequiredsupplementaryinformation.Copiesmay beobtainedbycontactingtheArizonaStateTreasurer,1700WestWashington,Phoenix,Arizona85007 orwww.aztreasury.gov. FundsheldintheStateTreasurer’sLocalGovernmentInvestmentPoolrepresentaproportionateinterest inthepool’sportfolio;however,theCity’sportionisnotidentifiedwithspecificinvestmentsandisnot subjecttocustodialcreditrisk.AtJune30,2022,theCity’sfundsinvestedwiththeStateTreasurertotaled $178,076,476.  Page 64 NOTE2CASHANDINVESTMENTS TheCity’sinvestmentintheStateofArizona’slocalgovernmentinvestmentpoolisstatedatfairvalue whichalsoapproximatesthevalueoftheinvestmentuponwithdrawal.   InvestmentType LGIP5 LGIP7 Total     Total   $2,339,219 175,737,257   $178,076,476         Total   $2,339,219 175,737,257   $178,076,476   InvestmentType LGIP5 LGIP7 Total Remaining  Maturity (inYears) Lessthan1 $2,339,219 175,737,257 $178,076,476  Ratingasof YearEnd AAA $2,339,219 175,737,257 $178,076,476  Investments TheCity’sportfoliocomplieswithArizonaRevisedStatutes(ARS)andtheCity’sinvestmentpolicy.The ArizonaRevisedStatutesregulatetheinvestmentofsurpluscash.GoodyearlimitsitsinvestmentstoU.S. government securities, certificates of deposit, bonds, repurchase agreements, corporate notes, commercialpaper,andmoneymarketaccounts.TheCitycategorizesitsfairvaluemeasurementswithin thefairvaluehierarchyestablishedbygenerallyacceptedaccountingprinciples.Thehierarchyisbased onthevaluationinputsusedtomeasurethefairvalueoftheasset.Level1inputsarequotedpricesin activemarketsforidenticalassets;Level2inputsaresignificantotherobservableinputs;Level3inputs aresignificantunobservableinputs.U.S.TreasurysecuritiesandMoneyMarketAccountsarevaluedusing quotedmarketprices(Level1inputs);whileFederalAgencySecurities,CorporateNotes,MutualFunds andNegotiableCertificatesofDepositarevaluedusingamatrixpricingmodel(Level2inputs). OnJune30,2022,theCity’sinvestmentsincludedthefollowing:    InvestmentType Total   U.S.Treasuries $108,449,019  FederalAgencySecurities  23,891,972  CorporateNotes 43,338,554 NegotiableCertificatesof  Deposit 1,366,802  MoneyMarketFund 1,374,103   MutualFunds 620,830   Total $179,041,281     RemainingMaturity(inYears) More  Concentration Lessthan1  1to2  than2 ofCreditRisk $15,003,061  $60,752,279  $32,693,679 61% 11,510,438  12,381,534   13% 1,125,928  8,205,766  34,006,860 24% 1,366,802  1,374,103  620,830  $31,001,163    Page 65       $81,339,579  $66,700,539 1% 0% 0% 100% NOTE2CASHANDINVESTMENTS OnJune30,2022,theCity’sinvestmentratingswereasfollows:   CustodialCreditRisk To control custodial credit risk, State law and the City’s investment policy requires all securities and collateraltobeheldbyanindependentthirdͲpartycustodianintheCity’sname.Thecustodianprovides theCitywithmonthlymarketvalues. InterestRateRisk Interestrateriskistheriskofchangesinmarketinterestratesthatwilladverselyaffectthefairvalueof aninvestment.Inordertolimitinterestrateandmarketrisk,StatelawandtheCity’sinvestmentpolicy setsamaximummaturityonanyinvestmenttofiveyears.Inaddition,theCityhasadoptedanaverage portfoliodurationlimitation(rangingfrom90daystothreeyears)consistentwiththeprimaryinvestment objectiveofsafety,liquidityandyield.AsofJune30,2022,theaveragedurationtomaturityis1.82years. CreditRisk Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment.Thisismeasuredbytheassignmentofaratingbyanationallyrecognizedstatisticalrating organization.AlthoughtheCity’sinvestmentpolicystatesthatitwillmitigatecreditriskitdoesnotimpose anyspecificlimitations. ConcentrationofCreditRisk TheCity’sinvestmentpolicylimitsthediversificationonbothsecuritytypesandlengthofmaturity.Atthe timeofpurchaseamaximumoffivepercentofthemarketvalueoftheportfoliomaybeinvestedindebt issuesbyanysingleentity.DebtbackedbytheU.S.TreasuryorGovernmentSponsoredEnterprises(GSEs) areexemptfromthisconcentrationcriterion. Page 66 NOTE3RECEIVABLES Amounts,otherthanleasesreceivable,netofallowanceforuncollectibles,asofyearͲendfortheCity’s individualmajorgovernmentalfundsandnonͲmajorgovernmentalfundsintheaggregateareasfollows:  AsofJune30,2022,thespecialassessmentandnotesreceivablebalancesarenotexpectedtobecollected within the next year. Special assessment receivables will be collected in conjunction with the debt retirementschedulefortherelatedbondsoutstanding.Thenotesreceivablematurein2044andaccrue interestat3.26percentannum. ThefollowingtablesummarizestheCity’sreceivablesfortheproprietaryfundsasofJune30,2022.  Revenues of the Water & Wastewater Fund and Sanitation Fund are reported net of uncollectible amounts.TotalbaddebtexpenserelatedtotheWater&WastewaterFundrevenuesandSanitationFund revenuesforthecurrentyearare$132,312and$30,551,respectively.   Page 67 NOTE4CAPITALASSETS AsummaryofcapitalassetsactivityforthefiscalyearendedJune30,2022follows:      Page 68 NOTE4CAPITALASSETS Depreciationandamortizationexpensewerechargedtofunctions/programsasfollows:  NOTE5LEASES Leasereceivable  Duringthecurrentfiscalyear,theCitybeganleasingthetwolicensedareastoathirdparty.Thelease termis192monthsandtheCitywillreceivemonthlyfixedpaymentsof$18,227.Theleasehasaninterest rateof2.0680%.TheCityrecognizedleaserevenueof$213,092and$73,982ininterestrevenueduring the current fiscal year related to this lease. An initial lease receivable was recorded in the amount of $3,668,998.AsofJune30,2022,thevalueoftheleasereceivableis$3,519,199.Thevalueofthedeferred inflowofresourcesasofJune30,2022was$3,455,906.  During the current fiscal year, the City began leasing fiber optic communications systems to a third party.Theleasetermis45monthsandtheCitywillreceiveannualfixedpaymentsof$28,994.Thelease has an interest rate of 0.8930%. The lessee has 3 extension option(s), each for 60 months. The City recognizedleaserevenueof$17,191and$700ininterestrevenueduringthecurrentfiscalyearrelated tothislease.Aninitialleasereceivablewasrecordedintheamountof$85,639.AsofJune30,2022,the valueoftheleasereceivableis$57,219.ThevalueofthedeferredinflowofresourcesasofJune30,2022 was$68,448.  Duringthecurrentfiscalyear,theCitybeganleasingcertainbuildingsandcommonareasattheGoodyear MunicipalComplextoathirdparty.Theleasetermis120monthsandtheCitywillreceivemonthlyfixed paymentsof$35,292.Theleasehasaninterestrateof1.6040%.Thelesseehasaterminationperiodof 60 months as of the lease commencement date. The City recognized lease revenue of $195,481 and $33,991ininterestrevenueduringthecurrentfiscalyearrelatedtothislease.Aninitialleasereceivable was recorded in the amount of $3,335,215. As of June 30, 2022, the value of the lease receivable is $3,082,882.ThevalueofthedeferredinflowofresourcesasofJune30,2022was$3,139,734.  ThefutureprincipalandinterestleasereceivablesasofJune30,2022,wereasfollows:   Page 69 NOTE5LEASES Leasepayable  Duringthecurrentfiscalyear,theCityenteredintoa54ͲmonthleaseasLesseefortheuseofCalleDel PuebloParkingandStorageLease.Aninitialleaseliabilitywasrecordedintheamountof$94,775during thecurrentfiscalyear.AsofJune30,2022,thevalueoftheleaseliabilitywas$79,374.TheCityisrequired tomakemonthlyfixedpaymentsof$1,500.Theleasehasaninterestrateof1.0590%.Thevalueofthe righttouseassetasofJune30,2022was$75,410withaccumulatedamortizationof$19,365.  ThefutureprincipalandleasepaymentsasofJune30,2022,wereasfollows:   NOTE6LOANPAYABLE TheCityreceivedaloanfromtheWaterInfrastructureFinanceAuthority.Theloanwasusedforexpansion ofaneffluentwastewaterfacilityandtorehabilitateanexistingeffluentliftstation.Theloanpayableon June30,2022,isasfollows:  AnnualdebtservicerequirementstomaturityontheloanpayableonJune30,2022issummarizedas follows:          Page 70  NOTE7GENERALOBLIGATIONBONDSPAYABLE  BondspayableonJune30,2022,consistedoftheoutstandinggeneralobligationandrefundingbonds presented below. The bonds are generally callable with interest payable semiͲannually. Of the total amountsoriginallyauthorized,$44,446,616remainsunissued.ThebondspayableonJune30,2022,are presentedbelow.  AnnualdebtservicerequirementstomaturityongeneralobligationbondspayableonJune30,2022,are summarizedasfollows:  OnApril11,2022,theCityissuedgeneralobligationbondswithaparamountof$23,475,000andcoupon ratesbetween4.00and5.00percent.Thenetproceedsof$26,190,816includedanoriginalissuepremium of $2,715,816 (after payment of $102,807 in underwriting fees and $122,000 in costs of issuance), $25,965,000wasimmediatelydepositedintoaprojectfund.Thegeneralobligationbondswereissuedto fundtheconstructionofacertainprojectsforFire,Police,Streets&Highway,andTransportation.   Page 71 NOTE8REVENUEBONDSPAYABLE Revenue bonds payable on June 30, 2022, consisted of the outstanding revenue bonds and refunding bonds presented on the following table. The bonds are generally callable after 10 years with interest payablesemiͲannually.              Revenuebonddebtservicerequirementstomaturityareasfollows:  PledgedRevenue A. RevenueBonds Governmental Activities – The obligations are special revenue obligations of the City. The paymentsarepayablefromandsecuredbyafirstlienontheexcisetaxesreceivedbytheCity. ExciseTaxesincludesamountsreceivedfromtheimpositionofunrestrictedfinesandforfeitures, licenseandpermitfees,transactionprivilege(sales)taxes,othertransactionprivilege,exciseand businesstaxes,franchisefeesandtaxes,bedandrentaltaxeswhichtheCitynoworinthefuture imposesandcollects,andallstatesharedsalesandincometaxesandstaterevenueͲsharing Page 72 NOTE8REVENUEBONDSPAYABLE collectedandallocatedorapportioned,noworthereafter.Excisetaxdoesnotincluderevenue from development fees or building permit fees. The last scheduled debt service payment occurringon7/1/2027.Proceedsofthebondswereusedtorefundinadvanceofmaturitythe MunicipalFacilitiesRevenueRefundingBonds,Series2011A.Principalandinterestpaidforthe currentyearandtotalpledgedrevenueswere$1,132,597and$158,008,523,respectively. BusinessͲTypeActivities Revenue bonds are collateralized by a pledge of the gross revenues of the utility systems, as defined in the bond indentures. The bonds are payable solely from water and wastewater customer net revenues with the last scheduled debt service payment occurring on 7/1/2032. ProceedsofthebondswereusedforimprovementstotheCity’swaterandwastewatersystem. Principal and interest paid for the current year and total water and wastewater customer net revenueswere$7,259,710and$20,422,540,respectively. B. PublicImprovementCorporationMunicipalFacilitiesRevenueBonds The public improvement corporation municipal facilities revenue bonds are secured by excise taxes or other undesignated general fund revenues and the property referred to as Goodyear Municipal Complex. Proceeds from the bonds were used to construct a major league baseball trainingfacilityaswellasothermunicipalfacilities.Thelastscheduleddebtservicepaymenton thebondsis7/1/2032.Principalandinterestpaid,includingtherefundedbonds,forthecurrent yearandtotalpledgedrevenueswere$10,435,798and$158,008,523,respectively. C. McDowellRoadCorridorImprovementDistrictBonds TheCityactsasanadministratorfortheMcDowellRoadCorridorImprovementDistrictwhereby itcollectstheassessmentsleviedagainstownersofpropertywithintheestablisheddistrictand disburses the amounts collected to retire the bonds issued to finance infrastructure improvements.Thelastscheduleddebtservicepaymentonthebondis1/1/2031.OnJune30, 2021,thespecialassessmentsreceivable,togetherwithamountspaidinadvanceandinterestto bereceivedoverthelifeoftheassessmentperiod,isadequateforthescheduledmaturitiesof thebondspayableandtherelatedinterest.Principalandinterestpaidforthecurrentyearand totalrevenuesavailabletoservicethedebtwere$2,937,420and$3,641,975,respectively. TheMcDowellRoadCorridorImprovementDistrictbondsarecollateralizedbypropertieswithin thedistrict.Intheeventofdefaultbythepropertyowner(s),theCitymayenforceanauctionsale tosatisfythedebtservicerequirementsoftheimprovementbonds.TheCityiscontingentlyliable onthebondstotheextentthatproceedsfromauctionsalesareinsufficienttoretireoutstanding bonds.    Page 73 NOTE9COMMUNITYFACILITIESDISTRICTSBONDSPAYABLE CommunityFacilitiesDistrictGeneralObligationBondsareissuedbyCommunityFacilitiesDistricts(CFDs), which are special purpose districts created specifically to acquire and improve public infrastructure in specifiedlandareas.CFDbondsarerepaidbyadvaloremtaxeslevieddirectlybythedistrictsandcollected by the county. Property owners in the districts are assessed for district taxes and thus for all costs associatedwiththedistricts.TheCityhasnoliabilityforCFDbonds. CommunityfacilitiesdistrictbondspayableonJune30,2022,consistedofoutstandinggeneralobligation and special assessment bonds. The bonds are generally callable with interest payable semiannually. CommunityfacilitiesdistrictbondspayableonJune30,2022,arepresentedonthefollowingpage.      Page 74 NOTE9COMMUNITYFACILITIESDISTRICTSBONDSPAYABLE CommunityFacilitiesDistrictbondsdebtservicerequirementstomaturityareasfollows:   NOTE10CHANGESINLONGͲTERMLIABILITIES LongͲtermliabilitiesactivityfortheyearendedJune30,2022wasasfollows:   TheCity’soutstandingnotesfromdirectborrowingsanddirectplacementsrelatedtocommunityfacilities districts’debtof$13,208,000aresecuredbyeither(1)anadvaloremtaxonalltaxableproperty;(2)an Page 75 NOTE10CHANGESINLONGͲTERMLIABILITIES assessmentleviedoneachlotintheassessmentdistrict;or(3)adebtreservefund.Thesenotescontain aprovisionthatintheeventofdefaulttheinterestratewillincrease,andthelegalrightsofthecreditor willbeenforced.  The City’s outstanding notes from direct borrowings and direct placements related to the Public Improvement Corporation’s debt of $6,896,238 are secured by the lease rental payments received pursuanttoaTaxableandaTaxͲExemptLeaseAgreement.Theseoutstandingnotescontainaprovision that in an event of default the interest rate will increase, and the legal rights of the creditor will be enforced.  TheCity’soutstandingnotefromdirectborrowingsanddirectplacementsrelatedtothebusinessͲtype activitiesof$2,198,125issecuredbypledgedwaterandwastewaterrevenues.Thisoutstandingnote containsaprovisionthatinaneventofdefaultalatechargeof6%perannumwillbechargedandthe legalrightsofthecreditorwillbeenforced.  NOTE11INTERFUNDRECEIVABLES,PAYABLES,ANDTRANSFERS  Transfersduringthefiscalyearwereasfollows:  Alltransfersmadeduringtheyearweretocoveroperationsordebtserviceasapprovedduringbudget development. InterfundbalancesasofJune30,2022,isasfollows: The outstanding balances between funds result mainly from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting systems and (3) payments between funds are made. These amounts also include balances of working capital loans made to several nonmajor governmental funds, which the generalfundexpectstocollectinthesubsequentyear.  Page 76 NOTE12CONTINGENTLIABILITIES FederalandStategrantsandloansͲTheCityhasreceivedanumberofgrantsandloansfromboththe Federal and State governments. Although the programs have been audited, not all audits have been approvedasofJune30,2022;however,theCityexpectsnomaterialdisallowancesofexpenditures. Lawsuits Ͳ The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not presentlydeterminable,intheopinionoftheCity’slegalcounsel,theresolutionofthesematterswillnot haveamaterialadverseeffectonthefinancialconditionoftheCity. CommitmentsͲTheCityiscontingentlyliableforpaymentsfromthegeneralfundtoentitiesthattheCity hasenteredintojobcreditagreementsforestablishingbusinesseswithintheCity.Thesecreditswillbe paidoutwhentheestablishedcriteriaaremetforjobcreationandothereconomicgrowthfactorsas specifiedbythedevelopmentagreements.EachyeartheCityappropriatesfortheseobligationsthrough thebudgetprocess. NOTE13RISKMANAGEMENT TheCityisexposedtovariousrisksoflossrelatedtotorts;theftof,damagetoanddestructionofassets; errors and omissions; and natural disasters. The City’s property and liability insurance protection is providedbytheArizonaMunicipalRiskRetentionPool,ofwhichtheCityisaparticipatingmember.The ArizonaMunicipalRiskRetentionPoolisstructuredsuchthatmemberpremiumsarebasedonanactuarial reviewthatwillprovideadequatereservestoallowthepooltomeetitsexpectedfinancialobligations. Thepoolhasauthoritytoassessitsmembersadditionalpremiumsshouldreserveandannualpremiums beinsufficienttomeetthepool’sobligations. The City established a SelfͲInsurance Trust (an Internal Service Fund) to account for and finance its uninsuredrisklossrelatedtohealthcareclaims.Underthisprogram,theFundprovidescoverageforup toamaximumof$250,000foreachclaim,nottoexceedanannualaggregateof$12,654,585.TheFund purchasescommercialinsuranceforclaimsinexcessofthiscoverage.Settledclaimshavenotexceeded theannualaggregateinanyofthepastfivefiscalyears. Liabilitiesofthefundarereportedwhenitisprobablethatalosshasoccurredandtheamountoftheloss canbereasonablyestimated.Liabilitiesincludeanamountforclaimsthathavebeenincurredbutnot reported(IBNRs).Theresultoftheprocesstoestimatetheclaimsliabilityisnotanexactamountasit depends on many complex factors, such as inflation, changes in legal doctrines, and damage awards. Accordingly, claims are reevaluated periodically to consider the effects of inflation, recent claim settlementtrends(includingfrequencyandamountofpayͲouts),andothereconomicandsocialfactors. The estimate of the claims liability also includes amounts for incremental claim adjustment expenses relatedtospecificclaimsandotherclaimadjustmentexpensesregardlessofwhetherallocatedtospecific claims.Estimatedrecoveries,forexamplefromsubrogation,areanothercomponentoftheclaimsliability estimate.Changesinthebalancesofclaimsliabilitiesduringthepasttwoyearsareasfollows:  HealthcareBenefits 2020Ͳ22 ClaimsPayable  BeginningofYear    $697,594 CurrentYearClaims andChangesin Estimates   $8,755,522 Page 77 Claim Payments ClaimsPayable  atEndofYear  $8,789,449  $663,667 NOTE13RISKMANAGEMENT The City continues to carry commercial insurance for workers compensation. Settled claims have not exceededcommercialinsurancecoverageinanyofthepastfivefiscalyears. NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS TheCitycontributestotheplansdescribedbelow.TheplansarecomponentunitsoftheStateofArizona. AggregateAmounts.AtJune30,2022,theCityreportedthefollowingaggregateamountsrelatedto pensionsandotherpostemploymentbenefits(OPEB)forallplanstowhichitcontributes.  TheCityreported$8,740,028ofpensionandOPEBcontributionsasexpendituresinthegovernmental fundsrelatedtoallplanstowhichitcontributes. A. ArizonaStateRetirementSystem PlanDescription.CityemployeesparticipateintheArizonaStateRetirementSystem(ASRS).The ASRSadministersacostͲsharingmultipleͲemployerdefinedbenefitpensionplan,acostͲsharing multipleͲemployer defined benefit health insurance premium benefit (OPEB) plan, and a costͲ sharing multipleͲemployer defined benefit longͲterm disability (OPEB) plan. The Arizona State RetirementSystemBoardgovernstheASRSaccordingtotheprovisionsofA.R.S.Title38,Chapter 5,Articles2and2.1.TheASRSissuesapubliclyavailablefinancialreportthatincludesitsfinancial statementsandrequiredsupplementaryinformation.ThereportisavailableontheASRSwebsite atwww.azasrs.gov. BenefitsProvided.TheASRSprovidesretirement,healthinsurancepremiumsupplement,longͲ termdisability,andsurvivorbenefits.Statestatuteestablishesbenefitterms.Retirementbenefits arecalculatedonthebasisofage,averagemonthlycompensation,andservicecreditasfollows:    Yearsofserviceandagerequiredto receivebenefit    Finalaveragesalaryisbasedon    Benefitpercentperyearofservice     RetirementInitial  MembershipDate:  BeforeJuly1,2011  OnorAfterJuly1,2011  Sum of years and age equals 80 10  30years,age55 years,age62 25years,age60 5years,age50* 10years,age62 Anyyears,age65 5years,age50* Anyyears,age65      Highest36monthsoflast  Highest60monthsoflast 120months 120months      2.1%to2.3%  2.1%to2.3%  *Withactuariallyreducedbenefits  Page 78 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS RetirementbenefitsformemberswhojoinedtheASRSpriortoSeptember13,2013,aresubject toautomaticcostͲofͲlivingadjustmentsbasedonexcessinvestmentearnings.Memberswitha membershipdateonorafterSeptember13,2013,arenoteligibleforcostͲofͲlivingadjustments. Survivorbenefitsarepayableuponamember’sdeath.Forretiredmembers,thesurvivorbenefit isdeterminedbytheretirementbenefitoptionchosen.Forallothermembers,thebeneficiaryis entitled to the member’s account balance that includes the member’s contributions and employer’scontributions,plusinterestearned. Retiredanddisabledmembers,withatleastfiveyearsofcreditedservice,areeligibletoreceive health insurance premium benefits. The benefits are payable only with respect to allowable healthinsurancepremiumsforwhichthememberisresponsible.Formemberswith10ormore yearsofservice,benefitsrangefrom$100permonthto$260permonthdependingontheageof thememberanddependents.Formemberswithfivetonineyearsofservice,thebenefitsarethe same dollar amounts as above multiplied by a vesting fraction based on completed years of service. ActivemembersareeligibleforalongͲtermdisabilitybenefitintheeventtheybecomeunableto perform their work. The monthly benefit is equal to twoͲthirds of their monthly earnings. Membersreceivingbenefitscontinuetoearnservicecredituptotheirnormalretirementdates. MemberswithlongͲtermdisabilitycommencementdatesafterJune30,1999arelimitedto30 yearsofserviceortheserviceonrecordasoftheeffectivedisabilitydate,iftheirserviceisgreater than30years. Contributions. In accordance with state statutes, annual actuarial valuations determine active memberandemployercontributionrequirements.Thecombinedactivememberandemployer contributionratesareexpectedtofinancethecostsofbenefitsemployeesearnduringtheyear, withanadditionalamounttofinanceanyunfundedaccruedliability.Forthecurrentfiscalyear, activeASRSmemberswererequiredbystatutetocontributeattheactuariallydeterminedrate of12.41percent(12.22percentforretirementand0.19percentforlongͲtermdisability)ofthe members’ annual covered payroll, and the City was required by statute to contribute at the actuarially determined rate of 12.41 percent (12.01 percent for retirement, 0.21 percent for health insurance premium benefit, and 0.19 percent for longͲterm disability) of the active members’annualcoveredpayroll.  EmployersarealsorequiredtopayanAlternateContributionRate(ACR),forretiredmembers whoreturntoworkinpositionsthatwouldtypicallybefilledbyanemployeewhocontributesto ASRS.TheCitywasrequiredbystatutetocontributeattheactuariallydeterminedrateof10.22 percent(10.13forretirementand0.09percentforlongͲtermdisability).ACRcontributionsare includedinemployercontributionspresentedabove. Page 79 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS TheCity’spensionandOPEBcontributionsarepaidbythesamefundsastheemployee’ssalary, withthelargestcomponentscomingfromtheGeneralFundandtheWaterandWastewaterFund. PensionandOPEBAssets/Liability.ThenetpensionandOPEBassets/liabilityweremeasuredas ofJune30,2021.Thetotalliabilityusedtocalculatethenetassetornetliabilitywasdetermined usingupdateprocedurestorollforwardthetotalliabilityfromanactuarialvaluationasofJune 30,2020,tothemeasurementdateofJune30,2021.ThetotalliabilitiesasofJune30,2021reflect changesinactuarialassumptionsbasedontheresultsofanactuarialexperiencestudyforthe5Ͳ yearperiodendedJune30,2020,includingdecreasingthediscountratefrom7.5percentto7.0 percentandchangingtheprojectedsalaryincreasesfrom2.7Ͳ7.2percentto2.9Ͳ8.4percent.The City’s proportion of the net asset/liability was based on the City’s actual contributions to the applicableplanrelativetothetotalofallparticipatingemployers’contributionstotheplanfor theyearendedJune30,2021. AtJune30,2022,theCityreportedthefollowingamountsforitsproportionateshareoftheASRS plansnetassets/liability.Inaddition,atJune30,2021,theCity’spercentageproportionforeach planandtherelatedchangefromitsproportionmeasuredasofJune30,2020was:  Pension/OPEB Expense and Deferred Outflows/Inflows of Resources. The City has deferred outflowsandinflowsofresourcesrelatedtothenetpensionandOPEBassets/liability.Certain changesinthenetpensionandOPEBassets/liabilityarerecognizedaspensionandOPEBexpense overaperiodoftimeratherthantheyearofoccurrence.FortheyearendedJune30,2022,the CityrecognizedpensionandOPEBexpenseasfollows:         Page 80 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS TheCityreporteddeferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedto pensionsandOPEBfromthefollowingsources:    Theamountsofdeferredoutflowsofresourcesresultingfromcontributionssubsequenttothe measurementdateasreportedinthetableabovewillberecognizedasanadjustmentofthenet pensionandOPEBassets/liabilityintheyearendedJune30,2023.Otheramountsreportedas deferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEB willberecognizedinpensionandOPEBexpenseasfollows:      Page 81 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS ActuarialAssumptions.Thesignificantactuarialassumptionsusedtomeasurethetotalpension andOPEBliabilityareasfollows: Actuarialvaluationdate Actuarialrollforwarddate Actuarialcostmethod Investmentrateofreturn Projectedsalaryincreases Inflation Permanentbaseincreases Mortalityrates Recoveryrates Healthcarecosttrendrate June30,2020 June30,2021 Entryagenormal 7.0% 2.9Ͳ8.4%forpensions/notapplicableforOPEB 2.3% Includedforpensions/notapplicableforOPEB 2017SRAScaleUͲMPforpensionsandhealth insurancepremiumbenefit 2012GLDTforlongͲtermdisability Notapplicable  TheactuarialassumptionsusedintheJune30,2020valuationwerebasedontheresultsofan actuarialexperiencestudyforthefiveͲyearperiodendedJune30,2020.ThelongͲtermexpected rateofreturnonASRSplaninvestmentswasdeterminedtobe7.0percentusingabuildingͲblock methodinwhichbestͲestimaterangesofexpectedfuturerealratesofreturn(expectedreturns, netofinvestmentexpenseandinflation)aredevelopedforeachmajorassetclass.Theseranges arecombinedtoproducethelongͲtermexpectedrateofreturnbyweightingtheexpectedfuture realratesofreturnbythetargetassetallocationpercentageandbyaddingexpectedinflation. Thetargetallocationandbestestimatesofarithmeticrealratesofreturnforeachmajorasset classforallASRSplansaresummarizedinthefollowingtable:  AssetClass TargetAllocation  Equity 50%  FixedincomeͲcredit 20%  FixedincomeͲinterestratesensitive 10%  Realestate 20%  Total 100%   LongͲTermGeometricReal RateofReturn 4.90% 5.20% 0.70% 5.70%  DiscountRate.AtJune30,2021,thediscountrateusedtomeasuretheASRSTotalpension/OPEB liability was 7.0 percent, which was a decrease of 0.5 form the discount rate used as of June 30,2020. 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 ratesbasedontheASRSBoard’sfundingpolicy,whichestablishesthecontractuallyrequiredrate under Arizona statute. Based on those assumptions, the plans’ fiduciary net position was projectedtobeavailabletomakeallprojectedfuturebenefitpaymentsofcurrentplanmembers. Therefore,thelongͲtermexpectedrateofreturnoninvestmentswasappliedtoallperiodsof projectedbenefitpaymentstodeterminethetotalpensionandOPEBliability.  Page 82 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS SensitivityoftheProportionateShareoftheNetPensionandOPEBAssets/LiabilitytoChanges intheDiscountRate.ThefollowingpresentstheCity’sproportionateshareofthenetpension andOPEBassets/liabilitycalculatedusingthediscountrateof7.0percent,aswellaswhatthe proportionateshareofthenetpensionandOPEBassets/liabilitywouldbeifitwerecalculated using a discount rate that is 1ͲpercentageͲpoint lower or 1ͲpercentageͲpoint higher than the currentrate:  PensionandOPEBPlanFiduciaryNetPosition.DetailedinformationaboutthepensionandOPEB plan’sfiduciarynetpositionisavailableintheseparatelyissuedASRSfinancialreport.Thereport isavailableontheASRSwebsiteatwww.azasrs.gov. B. PublicSafetyPersonnelRetirementSystem  Plan Descriptions. City public safety employees who are regularly assigned hazardous duty participateinthePublicSafetyPersonnelRetirementSystem(PSPRS).ThePSPRSadministersan agentmultipleͲemployerdefinedbenefitpensionplanandanagentmultipleͲemployerdefined benefithealthinsurancepremiumbenefit(OPEB)plan.AnineͲmemberboardknownastheBoard ofTrusteesandtheparticipatinglocalboardsgovernthePSPRSaccordingtotheprovisionsof A.R.S.Title38,Chapter5,Article4.EmployeeswhowerePSPRSmembersbeforeJuly1,2017, participateintheagentplans,andthosewhobecamePSPRSmembersonorafterJuly1,2017, participateinthecostͲsharingplans(PSPRSTier3RiskPool).  ThePSPRSissuesapubliclyavailablefinancialreportthatincludestheirfinancialstatementsand required supplementary information. The report is available on the PSPRS website at www.psprs.com.        Page 83 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS Benefits Provided.  The PSPRS provides retirement, health insurance premium supplement, disability, and survivor benefits. State statute establishes benefits terms. Certain retirement, disability,andsurvivorbenefitsarecalculatedonthebasisofage,averagemonthlycompensation, and service credit as follows. See the publicly available PSPRS financial report for additional benefitsinformation.   Yearsofservice andagerequired toreceivebenefit  Finalaverage salaryisbasedon  Normal retirement RetirementInitialMembershipDate:    Tier1  Tier2 Tier3  20yearsofservice,any  25yearsor15years 15yearsofcredited ageor15yearsof ofcreditedservice, service,age52.5or15 service,age62 age52.5 ormoreyearsof service,age55    Highest60consecutive  Highest36consecutive  Highest60 monthsoflast20years consecutivemonths monthsoflast15years oflast20years     50%less2.0%foreach  1.5%to2.5%peryear 1.5%to2.5%peryear yearofcreditedservice ofcreditedservice, ofcreditedservice,not lessthan20yearsor toexceed80% nottoexceed80% plus2.0%to2.5%for eachyearofcredited serviceover20years, nottoexceed80%   Accidental disability retirement  50%ornormalretirement,whicheverisgreater  Catastrophic disability retirement  90%ofthefirst60monthsthenreducedtoeither62.5%ornormal retirement,whicheverisgreater  Ordinarydisability retirement  Normalretirementcalculatedwithactualyearsofcreditedserviceor 20yearsofcreditedservice,whicheverisgreater,multipliedbyyears ofcreditedservice(nottoexceed20years)dividedby20  Survivorbenefit: Retiredmembers Activemembers   80%to100%ofretiredmember’spensionbenefit  80%ofaccidentaldisabilityretirementbenefitor100%ofaverage monthlycompensationifdeathwastheresultofinjuriesreceivedon thejob     Page 84 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS RetirementandsurvivorbenefitsaresubjecttoautomaticcostͲofͲlivingadjustmentsbasedon inflation. PSPRS also provides temporary disability benefits of 50 percent of the member's compensationforupto12months. Healthinsurancepremiumbenefitsareavailabletoretiredordisabledmemberswith5yearsof credited service. The benefits are payable only with respect to allowable health insurance premiumsforwhichthememberisresponsible.Benefitsrangefrom$100permonthto$260per monthdependingontheageofthememberanddependents. EmployeesCoveredbyBenefitTerms.AtJune30,2022thefollowingemployeeswerecovered bytheagentplan’sbenefitterms:  Contributions. State statutes establish the pension contribution requirements for active PSPRS employees. In accordance with state statutes, annual actuarial valuations determine employer contribution requirements for PSPRS pension and health insurance premium benefits. The combined activememberandemployercontributionratesareexpectedtofinancethecostsofbenefitsemployees earnduringtheyear,withanadditionalamounttofinanceanyunfundedaccruedliability.TheTierthree calculationbelowusestheTotalBoardApprovedTier3RequiredEmployerDefinedBenefitCostfromthe ActuarialValuationReports.ContributionratesfortheyearendedJune30,2022,areindicatedbelow. Ratesareapercentageofactivemembers’annualcoveredpayroll.   EmployersarealsorequiredtopayanAlternateContributionRate(ACR),forretiredmemberswhoreturn toworkinpositionsthatwouldtypicallybefilledbyanemployeewhocontributestoPSPRS.TheCitywas requiredbystatutetocontributeattheactuariallydeterminedrateof15.83percentforfirePSPRSand 17.54 percent for Police PSPRS. ACR contributions are included in employer contributions presented above.    Page 85 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS Inadditiontothecurrentcontributionsshownbelow,thecityhadaprepaidoverpaymentof$2,160,164 inFire,and$1,568,573inPoliceappliedtowardsitsunfundedliability.Thecontributionstothepension andOPEBplansfortheyearendedwere:  TheCity’spensionandOPEBcontributionsarepaidbythesamefundsastheemployee’ssalary, withthelargestcomponentcomingfromtheGeneralFund. PensionandOPEBAssets/Liability.AtJune30,2022,theCityreportedthefollowingassetsand liabilities.  ThenetpensionandOPEBassets/liabilityweremeasuredasofJune30,2021.Thetotalliability usedtocalculatethenetassetorliabilitywasdeterminedbyanactuarialvaluationasofthatdate. The total liability as of June 30, 2021, reflects no changes of actuarial assumptions to the investmentrateofreturnof7.3percentorthemortalityrates. Actuarial Assumptions. The significant actuarial assumptions used to measure the total pension/OPEBliabilityareasfollows:  ActuarialassumptionsusedintheJune30,2021,valuationwerebasedontheresultsofanactuarial experiencestudyforthe5ͲyearperiodendedJune30,2017.  Page 86 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS The longͲterm expected rate of return on PSPRS plan investments was determined to be 7.30 percentusingabuildingͲblockmethodinwhichbestͲestimaterangesofexpectedfuturerealrates ofreturn(expectedreturns,netofplaninvestmentexpensesandinflation)aredevelopedforeach majorassetclass.Thetargetallocationandbestestimatesofgeometricrealratesofreturnforeach majorassetclassaresummarizedinthefollowingtable: AssetClass U.S.publicEquity InternationalPublicEquity GlobalPrivateEquity OtherAssets CoreBonds PrivateCredit DiversifyingStrategies Cash–Mellon Total           Target Allocation 24% 16% 20% 7% 2% 20% 10% 1% 100%           LongͲTermExpected GeometricRealRateof Return 4.08% 5.20% 7.67% 5.43% 0.42% 5.74% 3.99% (0.31)%   DiscountRate.AtJune30,2021,thediscountrateusedtomeasurethetotalpensionandOPEB liabilitywas7.3percent,whichwaswhichisthesamediscountrateusedinthepreviousyear, June30,2020. The projection of cash flows used to determine the PSPRS discount rates assumed that plan member contributions will be made at the current contribution rate and that employer contributionswillbemadeatratesequaltothedifferencebetweentheactuariallydetermined contributionrateandthememberrate. Basedonthoseassumptions,theplans’fiduciarynetpositionwasprojectedtobeavailableto makeallprojectedfuturebenefitpaymentsofcurrentplanmembers.Therefore,thelongͲterm expected rate of return on plan investments was applied to all periods of projected benefit paymentsfortheseplanstodeterminethetotalpensionandOPEBliability.         Page 87 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS ChangesinNet(Assets)/Liability      Page 88 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS SensitivityoftheNetPensionandOPEBAssets(Liability)toChangesintheDiscountRate.The followingpresentstheCity/Town’snetpensionandOPEBassets(liability)calculatedusingthe discountratesnotedabove,aswellaswhatthenetassets(liability)wouldbeifitwerecalculated using a discount rate that is 1ͲpercentageͲpoint lower or 1ͲpercentageͲpoint higher than the currentrate:  Plan Fiduciary Net Position. Detailed information about the plans’ fiduciary net position is available in the separately issued PSPRS financial report. The report is available on the PSPRS websiteatwww.psprs.com. Expense.FortheyearendedJune30,2022,theCityrecognizedthefollowingaspensionandOPEB expense:  DeferredOutflows/InflowsofResources.AtJune30,2022,theCityreporteddeferredoutflows ofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEBfromthefollowing sources:  Page 89 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS  The amounts of deferred outflows of resources resulting from contributions subsequent to the measurementdateasreportedinthetableabovewillberecognizedasanadjustmentofthenetpension andOPEBassets/liabilityintheyearendedJune30,2023.Otheramountsreportedasdeferredoutflows ofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEBwillberecognizedinpension andOPEBexpenseasfollows:  C.GoodyearVolunteerandReserveFirefighterRetirementTrustPlan The Goodyear Volunteer and Reserve Firefighter Retirement Trust Plan is a singleͲemployer definedcontributionplan,whichwasapprovedbytheCityCouncilonFebruary27,1990,under ArizonaRevisedStatutesSection9Ͳ981.Theauthoritytoestablishandamendbenefitprovisions rests with the City Council. In December 1999, the council revised the pension and benefit program for the partͲtime firefighters. The City discontinued using partͲtime firefighters as of December1,2005. The assets of the plan are valued annually and the earnings or loss is distributed among the participant’s accounts in the plan. The only expenditures being made from this fund are administrationfees,benefitpayments,andrefundstothosefirefighterswholeavetheserviceof theFireDepartmentbeforebecomingeligibleforpensionbenefits.Thecostofadministeringthe planisfinancedfrominvestmentearnings.Retirementwithfullbenefitscanbeatagefifty(50) orfifteenyearsofcreditedservice.ThisplanwasfullyvestedasofJune30,2022.AsofJune30, Page 90 NOTE14PENSIONSANDOTHERPOSTEMPLOYMENTBENEFITS 2022,therewerefoureligibleemployeesparticipatingintheplan.Theplanwasadministeredby CeteraAdvisorNetworksLLC.  AsofJune30,2022,theplan’sassetsconsistedofthefollowing:  Theplanhasneverhadanactuarialvaluation;however,benefitscannotexceedplanassets.The marketvaluesofmutualfundsaredeterminedfromreadilyavailablemarketquotations.Thefund uses the accrual basis of accounting. Contributions are recognized when earned; benefits and refunds are expensed when incurred. Separate audited financial statements of this employee benefitplanarenotavailable. NOTE15EXCESSOFEXPENDITURESOVERAPPROPRIATIONS Fortheyearended,June30,2022,expendituresdidnotexceedbudgetatthefundlevelinanyfunds. NOTE16FUNDBALANCECLASSIFICATIONS  NOTE17DEFICITFUNDBALANCES  AsofJune30,2022,theGrantsFundhadadeficitfundbalanceof$51,117.Thedeficitexistsduetotiming of reimbursements for grant related expenses.  Specifically, some reimbursements were not received within60daysoftheendofthefiscalyear.Thedeficitisexpectedtoberesolvedinthesubsequentfiscal year.Furtherdetailcanbefoundinthebudgettoactualschedulewithinthesupplementalinformation. Page 91 NOTE18COMMITMENTS  ConstructionCommitments TheCityhasactiveconstructionprojectsasofJune30,2022.Thecommitmentsfortheseactiveprojects arebeingfinancedfromexistingfundbalances.ThebalancesforworknotyetcompleteasofJune30, 2022wereasfollows:  Encumbrances  Inordertofacilitateeffectiveplanningandcontroloffunds,encumbrancesareusedtoplanforcertain items.  Encumbrance amounts have been classified as assigned, unless classified as restricted or committedduetothenatureofthefund.AsofJune30,2022,theencumbrancestobehonoredinthe nextfiscalyearareasfollows:          Page 92 NOTE19TAXABATEMENTAGREEMENTS GovernmentPropertyLeaseExciseTax TheCityentersintogovernmentpropertyleaseagreementswithprivateparties.Allpropertytaxesare abatedontheseleaseagreements;however,theprivatepartymaybesubjecttoagovernmentproperty lease excise tax (GPLET) in lieu of property taxes. GPLET is calculated based on rates state statute establishes on the property’s square footage and use. The property tax abatement applies to private partiesdevelopingandoccupyingagovernmentpropertyforatleast30consecutivedays. Under the City’s government property lease agreements, private parties are committed to the constructionofanyimprovementsandtheoperationandmaintenanceoftheimprovements.TheCityhas nocommitmentsundertheseagreementsotherthantoabatetaxes. FortheyearendedJune30,2022,governmentpropertyleaseagreementstheCityenteredintoreduced theCitytaxrevenuesby$410,348. ForeignTradeZone TheCityhasaforeigntradezonewithinitslimits.Arizonastatelawallowsforanypropertywithinaforeign tradezonetobesubjecttoareducedpropertyvaluationrateof5%downfrom18%.UndertheCity’s foreigntradezones,businesscanqualifyoneoffourways: 1. DeveloperscanconstructazoneIͲ1siteofatleast200,000squarefeetinaforeigntradezone. 2. Qualifyingmanufacturingcompaniescaninvestatleast$25millionincapitalequipmentandreal property,construct75,000squarefeetbuilding,employaminimumof75fullͲtimeemployees with 51% paid 125% of the state median annual wage and paid 75% of employees’ health insurancepremiums. 3. Internet fulfillment companies can locate within a designated foreign trade zone building, generateaminimumof$25millionofArizonaendͲusersalesandinvestatleast$25millionin capitalequipmentandrealproperty. 4. Businesses can locate within one of the federally approved Magnet foreign trade zones and complywiththeCity’sForeignTradeZonepolicyandfederalrequirements. FortheyearendedJune30,2022,propertieswithintheforeigntradezonesreducedtheCitytaxrevenues by$464,822.90. SalesTaxAbatements The City has entered into agreements with developers to reimburse for the construction of public infrastructurethatwillbenefitthecommunity.Thesereimbursementsarepaidtodevelopersovertime from the collection of sales taxes.  Payments to developers are considered during the City's budget process.FortheyearendedJune30,2022,theonedeveloperagreementreducedCitysalestaxrevenues by$2,656,562.  Page 93 NOTE20RESTATEMENTOFNETPOSITION ThebeginningnetpositionofGovernmentalActivities,hasbeenrestatedby($5,175,154)torecordprior periodadjustmentsrelatedtotherecordingofunspentAmericanRescuePlanActof2021(ARPA)funds that were previously recorded as deferred inflows and revenue and were properly reclassified to unearnedrevenue. Page 94 REQUIRED SUPPLEMENTARY INFORMATION Page 95 CITY OF GOODYEAR, ARIZONA GENERAL FUND Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original REVENUES Taxes Licenses and permits Intergovernmental revenues Charges for services Fines and forfeitures Investment income Contributions Other revenues Total revenues EXPENDITURES Current: General government: City attorney City clerk City manager Communications Finance Human resources ITS Mayor and council Non-departmental Reserved for contingency $ 94,016,600 16,447,500 26,397,700 1,912,100 666,300 17,487,000 924,200 157,851,400 Final $ 94,016,600 16,447,500 26,397,700 1,912,100 666,300 17,487,000 924,200 157,851,400 $ Actual Variance with Final Budget 127,848,317 16,654,379 41,101,813 3,448,050 1,016,840 (3,493,550) 1,895,854 1,833,316 190,305,019 $ 33,831,717 206,879 14,704,113 1,535,950 350,540 (3,493,550) (15,591,146) 909,116 32,453,619 2,267,500 836,000 2,931,300 1,269,700 4,634,100 5,587,000 8,729,400 356,900 3,506,000 21,663,500 2,267,500 820,000 3,581,300 1,301,700 4,394,100 6,525,700 8,775,000 356,900 3,506,000 23,758,500 2,014,785 734,078 2,735,179 1,257,984 4,146,738 5,393,068 7,177,686 289,423 2,661,288 - 252,715 85,922 846,121 43,716 247,362 1,132,632 1,597,314 67,477 844,712 23,758,500 51,781,400 55,286,700 26,410,229 28,876,471 25,967,100 1,349,800 34,118,000 25,931,700 1,454,800 34,140,700 25,276,508 1,293,887 32,445,801 655,192 160,913 1,694,899 61,434,900 61,527,200 59,016,196 2,511,004 Public works: Administration Building services Fleet services Program management 608,400 2,095,200 464,000 957,000 622,500 2,081,100 699,000 957,000 624,558 1,732,345 271,785 687,635 (2,058) 348,755 427,215 269,365 Total public works 4,124,600 4,359,600 3,316,323 1,043,277 Total general government Public safety: Fire Municipal Court Police Total public safety (Continued) Page 96 CITY OF GOODYEAR, ARIZONA GENERAL FUND Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Final 512,000 10,226,400 5,022,800 512,000 10,226,400 5,027,800 582,554 8,544,865 4,648,322 (70,554) 1,681,535 379,478 15,761,200 15,766,200 13,775,741 1,990,459 5,553,100 3,957,900 6,077,300 7,601,800 4,907,100 4,300,500 6,464,905 2,865,736 3,781,920 1,136,895 2,041,364 518,580 15,588,300 16,809,400 13,112,561 3,696,839 Capital Outlay 38,734,700 64,906,800 16,728,432 48,178,368 Debt Service Principal Interest 1,098,000 51,000 1,098,000 51,000 1,113,082 51,358 (15,082) (358) 1,149,000 1,149,000 1,164,440 (15,440) 188,574,100 219,804,900 133,523,922 86,280,978 Excess of revenues over expenditures (30,722,700) (61,953,500) 56,781,097 118,734,597 OTHER FINANCING SOURCES (USES) Sale of capital assets Transfers out Transfers in Total other financing sources and (uses) (76,451,000) 7,344,500 (69,106,500) (62,303,200) 18,423,250 (43,879,950) 413,605 (41,259,220) 15,723,288 (25,122,327) 413,605 21,043,980 (2,699,962) 18,757,623 Net change in fund balance (99,829,200) (105,833,450) 31,658,770 137,492,220 Fund balance, beginning of year 145,166,556 145,166,556 145,166,556 - 176,825,326 $ 137,492,220 Culture and recreation: Arts and culture Parks Recreation Total culture and recreation Development services: Development services Economic development Engineering Total development services Total debt service Total expenditures Fund balance, end of year $ 45,337,356 Page 97 $ 39,333,106 Actual Variance with Final Budget Original $ CITY OF GOODYEAR, ARIZONA Notes to Budget and Actual Schedules For the Year Ended June 30, 2022 Note 1. Budgetary Basis of Accounting The City’s budget is prepared on a basis consistent with generally accepted accounting principles, except for the following items: x Certain activities reported in the General Fund are budgeted in separate funds. The following schedule reconciles fund balance reported at the end of the year: Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds Activity budgeted as special revenue funds Schedule of Revenues, Expenditures and Changes in Fund Balances - General Fund Beginning Fund Balance Revenue Expenditures Ending Fund Balance $ 147,253,140 $ 207,353,218 $ 175,544,600 $ 179,061,758 (2,086,584) (911,306) (761,458) (2,236,432) $ 145,166,556 $ 206,441,912 $ 174,783,142 $ 176,825,326 Page 98 Page 99 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of the Proportionate Share of the Net Pension Liability June 30, 2022 Reporting Fiscal Year (Measurement Date) ASRS - Pension 2022 (2021) 2021 (2020) 2020 (2019) Proportion of the net pension liability (asset) 0.28178% 0.26321% 0.25462% Proportionate share of the net pension liability (asset) $ 37,024,641 $ 45,605,133 $ 37,050,173 Covered payroll $ 32,091,131 $ 28,572,110 $ 26,747,686 Proportionate share of the net pension liability (asset) as a percentage of its covered payroll 115.37% 159.61% 138.52% Plan fiduciary net position as a percentage of the total pension liability 78.58% 69.33% 73.24% Note: The City implemented GASB 68 in fiscal year 2015. Prior year information is not available Page 100 2019 (2018) 2018 (2017) 2017 (2016) 2016 (2015) 2015 (2014) 0.26689% 0.24000% 0.24000% 0.24000% 0.22000% $ 37,221,762 $ 37,471,443 $ 39,085,443 $ 36,986,742 $ 33,264,817 $ 25,325,110 $ 23,806,419 $ 22,599,315 $ 21,761,494 $ 20,166,769 146.98% 157.40% 172.95% 169.96% 164.95% 73.40% 69.92% 67.06% 68.35% 69.49% Page 101 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of the Proportionate Share of the Net OPEB Liability June 30, 2022 ASRS - Health insurance premium benefit Reporting Fiscal Year (Measurement Date) 2022 2021 (2021) (2020) Proportion of the net OPEB (asset) 0.287400% 0.268850% Proportionate share of the net OPEB (asset) $ (1,400,236) $ (190,345) Covered payroll $ 32,091,131 $ 28,572,110 Proportionate share of the net OPEB (asset) as a percentage of its covered payroll -4.36% -0.67% Plan fiduciary net position as a percentage of the total OPEB liability 130.24% 104.33% ASRS - Long-term disability Reporting Fiscal Year (Measurement Date) 2022 2021 (2021) (2020) Proportion of the net OPEB (asset) 0.284620% 58,752 0.266340% Proportionate share of the net OPEB (asset) $ $ 202,049 Covered payroll $ 32,091,131 $ 28,572,110 Proportionate share of the net OPEB (asset) as a percentage of its covered payroll 0.18% 0.71% Plan fiduciary net position as a percentage of the total OPEB liability 90.38% 68.01% Note: The City implemented GASB 75 in fiscal year 2018. Prior year information is not available. Page 102 $ 2020 (2019) 2019 (2018) 2018 (2017) 0.260420% 0.271700% 0.243230% (71,968) $ (97,837) $ (132,414) $ 26,747,686 $ 25,325,110 $ 23,806,419 -0.27% -0.39% -0.56% 101.62% 102.20% 103.57% $ 2020 (2019) 2019 (2018) 2018 (2017) 0.258210% 0.267470% 0.241210% 168,210 $ 139,754 $ 87,433 $ 26,747,686 $ 25,325,110 $ 23,806,419 0.63% 0.55% 0.37% 72.85% 77.83% 84.44% Page 103 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Changes in the Net Pension Liability and Related Ratios June 30, 2022 PSPRS Police - Pension 2022 (2021) Total pension liability Service cost Interest on total pension liability Changes of benefit terms Difference between expected and actual experience of the total net pension liability Changes of assumptions Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability - beginning Total pension liability - ending (a) $ Reporting Fiscal Year (Measurement Date) 2021 2020 (2020) (2019) 2,208,847 4,586,569 - $ 2,269,992 4,141,357 - $ 2,184,422 3,834,071 - 641,214 - 1,426,978 - (759,999) 1,323,823 (1,747,026) 5,689,604 61,494,383 $ 67,183,987 (1,609,732) 6,228,595 55,265,788 $ 61,494,383 (1,887,751) 4,694,566 50,571,222 $ 55,265,788 $ Plan fiduciary net position Contributions - employer Contributions - employee Net investment income Benefit payments, including refunds of employee contributions Hall/Parker settlement Plan administrative expenses Other (net transfer) Net change in plan fiduciary net position Plan fiduciary net position - beginning Adjustment to beginning of year Plan fiduciary net position - ending (b) $ 14,918,307 819,075 11,521,830 $ (1,747,026) (53,304) 25,458,882 37,507,990 $ 62,966,872 (1,609,732) (39,094) 17,383 2,619,191 34,888,797 2 $ 37,507,990 (1,887,751) (32,005) 3,692,995 31,210,198 (14,396) $ 34,888,797 Net pension liability - ending (a) - (b) $ 4,217,115 $ 23,986,393 $ 20,376,991 93.72% 60.99% 63.13% Plan fiduciary net position as a percentage of the total pension liability Covered payroll $ Net pension liability as a percentage of covered payroll 8,656,917 48.71% $ 2,900,958 870,194 479,482 9,220,411 260.14% $ 3,042,548 785,605 1,784,598 9,600,397 212.25% Note: The City implemented GASB 68 in fiscal year 2015. Information prior to 2015 is not available. Page 104 2019 (2018) $ 2,123,570 3,331,300 - 2018 (2017) $ 1,914,605 2,971,515 456,529 2017 (2016) $ 2016 (2015) 1,437,416 2,477,882 3,357,342 $ 1,278,133 2,301,498 - 2015 (2014) $ 1,278,071 1,966,048 186,683 1,802,331 - 494,534 824,808 389,465 1,580,891 (159,382) - 260,090 1,746,183 (1,283,523) 5,973,678 44,597,544 $ 50,571,222 (1,454,686) 5,207,305 39,390,239 $ 44,597,544 (1,398,856) 7,844,140 31,546,099 $ 39,390,239 (1,107,068) 2,313,181 29,232,918 $ 31,546,099 (1,220,650) 4,216,425 25,016,493 $ 29,232,918 $ $ $ $ $ 3,953,950 947,565 1,918,567 1,633,633 930,370 2,810,340 1,597,875 885,129 130,212 1,173,950 768,858 739,152 1,116,495 704,171 2,311,670 (1,283,523) (1,135,981) (29,900) 66,475 4,437,153 26,773,045 $ 31,210,198 (1,454,686) (25,267) 333,337 4,227,727 22,545,318 $ 26,773,045 (1,398,856) (19,137) 167,861 1,363,084 21,182,234 $ 22,545,318 (1,107,068) (18,421) (57,781) 1,498,690 19,683,544 $ 21,182,234 (1,220,650) (476,423) 2,435,263 17,248,281 $ 19,683,544 $ 19,361,024 $ 17,824,499 $ 16,844,921 $ 10,363,865 $ 61.72% 60.03% 57.24% 67.15% $ 9,388,019 206.23% $ 8,331,614 213.94% $ 7,375,148 $ 228.40% 7,012,489 147.79% Page 105 9,549,374 67.33% $ 6,630,426 144.02% CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Changes in the Net Pension Liability and Related Ratios June 30, 2022 PSPRS Fire - Pension 2022 (2021) Total pension liability Service cost Interest on total pension liability Changes of benefit terms Difference between expected and actual experience of the total net pension liability Changes of assumptions Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability - beginning Total pension liability - ending (a) $ Reporting Fiscal Year (Measurement Date) 2021 2020 (2020) (2019) 1,944,759 4,652,630 - $ 1,996,708 4,060,626 - $ 1,979,628 3,813,916 - 1,925,481 - 3,164,096 - (2,153,410) 1,175,572 (1,234,072) 7,288,798 62,406,936 $ 69,695,734 (885,597) 8,335,833 54,071,103 $ 62,406,936 (608,760) 4,206,946 49,864,157 $ 54,071,103 $ Plan fiduciary net position Contributions - employer Contributions - employee Net investment income Benefit payments, including refunds of employee contributions Hall/Parker settlement Plan administrative expenses Other (net transfer) Net change in plan fiduciary net position Plan fiduciary net position - beginning Adjustment to beginning of year Plan fiduciary net position - ending (b) $ 14,569,689 693,071 12,513,461 $ (1,234,072) (58,006) 26,484,143 41,282,449 $ 67,766,592 (885,597) (43,297) 2,719,069 38,563,377 3 $ 41,282,449 (608,760) (35,097) 4,024,151 34,551,812 (12,586) $ 38,563,377 Net pension liability - ending (a) - (b) $ 1,929,142 $ 21,124,487 $ 15,507,726 97.23% 66.15% 71.32% Plan fiduciary net position as a percentage of the total pension liability Covered payroll $ Net pension liability as a percentage of covered payroll 8,629,914 22.35% $ 2,448,698 668,206 531,059 8,191,627 257.88% $ 2,107,184 598,158 1,962,666 8,445,713 183.62% Note: The City implemented GASB 68 in fiscal year 2015. Information prior to 2015 is not available. Page 106 2019 (2018) $ 2,044,963 3,111,423 - 2018 (2017) $ 1,819,328 2,846,014 208,024 2017 (2016) $ 2016 (2015) 1,558,056 2,121,084 4,046,976 $ 1,409,380 1,822,450 - 2015 (2014) $ 1,405,013 1,640,015 (18,156) 4,118,805 - (389,024) 222,373 1,915,498 1,632,401 1,030,908 - (813,497) 619,565 (869,611) 8,405,580 41,458,577 $ 49,864,157 (570,665) 4,136,050 37,322,527 $ 41,458,577 (385,270) 10,888,745 26,433,782 $ 37,322,527 (680,367) 3,582,371 22,851,411 $ 26,433,782 (341,865) 2,491,075 20,360,336 $ 22,851,411 $ $ $ $ $ 3,893,514 905,341 2,135,563 1,153,600 1,109,821 3,112,669 1,173,975 992,221 141,788 968,726 848,048 791,715 948,481 754,465 2,374,446 (869,611) (1,424,092) (33,203) 53,121 4,660,633 29,891,179 $ 34,551,812 (570,665) (27,942) 301 4,777,784 25,113,395 $ 29,891,179 (385,270) (20,803) 278,213 2,180,124 22,933,271 $ 25,113,395 (680,367) (19,707) 304,136 2,212,551 20,720,720 $ 22,933,271 (341,865) (228,831) 3,506,696 17,214,024 $ 20,720,720 $ 15,312,345 $ 11,567,398 $ 12,209,132 $ $ 69.29% 72.10% 67.29% $ 8,787,982 174.24% $ 8,028,810 144.07% $ 8,217,597 86.76% $ 148.57% 3,500,511 7,822,842 44.75% Page 107 2,130,691 90.68% $ 7,338,829 29.03% CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Changes in the Net OPEB Liability and Related Ratios June 30, 2022 Reporting Fiscal Year (Measurement Date) 2021 2020 2019 (2020) (2019) (2018) PSPRS Police Health Insurance Premium Benefit 2022 (2021) Total OPEB liability Service cost Interest on total OPEB liability Changes of benefit terms Difference between expected and actual experience of the total net OPEB liability Changes of assumptions or other inputs Benefit payments Net change in total OPEB liability Total OPEB liability - beginning Total OPEB liability - ending (a) Plan fiduciary net position Contributions - employer Contributions - employee Net investment income Benefit payments Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position - beginning Adjustment to beginning of year Plan fiduciary net position - ending (b) Net OPEB liability - ending (a) - (b) Plan fiduciary net position as a percentage of the total OPEB liability Covered payroll Net OPEB (asset) liability as a percentage of covered payroll $ 37,876 55,315 - $ (23,230) (15,483) 54,478 727,609 782,087 (103,246) (7,405) (12,451) 740,060 $ 727,609 (210,833) 14,776 (14,484) (118,317) 858,377 $ 740,060 $ 21,141 277,240 (15,483) (1,140) 281,758 1,008,384 $ 1,290,142 $ 28,426 12,337 (7,405) (1,003) 32,355 976,029 $ 1,008,384 $ 30,174 48,982 (14,484) (846) 63,826 897,807 14,396 976,029 $ $ (508,055) $ (280,775) $ (235,969) 164.96% 138.59% 131.89% 104.59% 108.50% $ 8,656,917 $ 9,220,411 $ 9,600,397 $ 9,388,019 $ 8,331,614 -5.87% -3.05% -2.46% -0.42% -0.79% $ $ 40,698 57,502 - $ $ 27,225 64,999 - $ 11,892 (13,196) 87,387 770,990 858,377 $ $ 27,494 57,481 3,790 4,452 (66,210) (17,372) 9,635 761,355 770,990 $ $ 17,033 58,322 (13,196) (888) 1 61,272 836,535 897,807 $ 30,113 87,559 (17,372) (774) 99,526 737,009 836,535 $ (39,430) $ (65,545) Note: The City implemented GASB 75 in fiscal year 2018. Information prior to 2018 is not available. Page 108 30,980 57,711 - 2018 (2017) CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Changes in the Net OPEB Liability and Related Ratios June 30, 2022 Reporting Fiscal Year (Measurement Date) 2021 2020 2019 (2020) (2019) (2018) PSPRS Fire Health Insurance Premium Benefit 2022 (2021) Total OPEB liability Service cost Interest on total OPEB liability Changes of benefit terms Difference between expected and actual experience of the total net OPEB liability Changes of assumptions or other inputs Benefit payments Net change in total OPEB liability Total OPEB liability - beginning Total OPEB liability - ending (a) $ $ 31,919 60,500 - $ 19,334 62,411 - $ 22,849 57,087 - 2018 (2017) 30,073 61,078 - $ $ 20,875 58,459 375 (38,999) (10,196) 41,956 811,708 853,664 (61,104) (10,499) 20,816 790,892 $ 811,708 (124,547) 15,548 (11,820) (39,074) 829,966 $ 790,892 2,063 (24,100) 57,899 772,067 $ 829,966 21,035 (94,084) (7,230) (570) 772,637 $ 772,067 $ $ $ Plan fiduciary net position Contributions - employer Contributions - employee Net investment income Benefit payments Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position - beginning Adjustment to beginning of year Plan fiduciary net position - ending (b) $ 33,001 213,971 (10,196) (880) 235,896 782,811 $ 1,018,707 26,821 9,500 (10,499) (773) 25,049 757,762 $ 782,811 28,091 37,808 (11,820) (653) 53,426 691,751 12,585 $ 757,762 $ 22,840 44,799 (24,100) (682) 1 42,858 648,893 $ 691,751 31,049 66,973 (7,230) (593) 90,199 558,694 $ 648,893 Net OPEB liability - ending (a) - (b) $ (165,043) $ $ 33,130 $ 138,215 $ 123,174 Plan fiduciary net position as a percentage of the total OPEB liability Covered payroll Net OPEB (asset) liability as a percentage of covered payroll 28,897 119.33% 96.44% 95.81% 83.35% 84.05% $ 8,629,914 $ 8,191,627 $ 8,445,713 $ 8,787,982 $ 8,028,810 -1.91% 0.35% 0.39% 1.57% 1.53% Note: The City implemented GASB 75 in fiscal year 2018. Information prior to 2018 is not available. Page 109 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Pension/OPEB Contributions June 30, 2022 ASRS - Pension Reporting Fiscal Year 2022 2021 2020 Contractually required contribution $ 4,413,873 $ 3,690,370 $ 3,294,032 Contributions in relation to the contractually required contribution $ (4,413,873) $ (3,690,370) $ (3,294,032) Contribution deficiency (excess) $ $ $ Covered payroll $ 38,450,304 $ 32,091,131 $ 28,572,110 11.48% 11.50% 11.53% Contributions as a percentage of covered payroll PSPRS Police-Pension 2022 - - Reporting Fiscal Year 2021 3,492,704 $ Contributions in relation to the actuarially determined contribution $ (5,061,277) $ (14,918,307) $ (2,900,958) Contribution deficiency (excess) $ (1,568,573) $ (12,000,000) $ - Covered payroll $ 13,130,356 $ $ 9,220,411 38.55% PSPRS Fire-Pension 2022 Actuarially determined contribution Contributions in relation to the actuarially determined contribution $ 2,918,307 8,656,917 $ 2020 Actuarially determined contribution Contributions as a percentage of covered payroll $ - 172.33% 31.46% Reporting Fiscal Year 2021 2,941,811 $ 2,569,689 2,900,958 $ 2020 2,448,698 (5,101,975) (14,569,689) Contribution deficiency (excess) $ (2,160,164) $ (12,000,000) $ - Covered payroll $ 12,175,244 $ $ 8,191,627 Contributions as a percentage of covered payroll 41.90% 8,629,914 168.83% (2,448,698) 29.89% Note: The City implemented GASB 68 in fiscal year 2015. Prior year information is not available Page 110 2019 2018 2017 2016 2015 $ 3,002,190 $ 2,760,437 $ 2,566,332 $ 2,452,025 $ 2,369,823 $ (3,002,190) $ (2,760,437) $ (2,566,332) $ (2,452,025) $ (2,369,823) $ $ $ $ $ - - - - - $ 26,747,686 $ 25,325,110 $ 23,806,419 $ 22,599,315 $ 21,761,494 11.22% 10.90% 10.78% 10.85% 10.89% 2019 2018 $ 3,042,548 $ 2017 3,953,950 $ 2016 1,633,633 $ 2015 1,597,875 $ 1,173,950 $ (3,042,548) $ (3,953,950) $ (1,633,633) $ (1,597,875) $ (1,173,950) $ - $ - $ - $ - $ - $ 9,600,397 $ 9,388,019 $ 8,331,614 $ 7,375,148 $ 7,012,489 31.69% 42.12% 2019 $ 19.61% 2018 2,107,184 $ (2,107,184) 21.67% 2017 3,893,514 $ (3,893,514) 16.74% 2016 1,153,600 $ (1,153,600) 2015 1,173,975 $ (1,173,975) 968,726 (968,726) $ - $ - $ - $ - $ - $ 8,445,713 $ 8,787,982 $ 8,028,810 $ 8,217,597 $ 7,822,842 24.95% 44.30% 14.37% Page 111 14.29% 12.38% CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Pension/OPEB Contributions June 30, 2022 ASRS - Health insurance premium benefit 2022 Contractually required contribution $ Contributions in relation to the contractually required contribution 2021 77,178 $ (77,178) Reporting Fiscal Year 2020 2019 122,906 $ (122,906) 140,567 $ (140,567) 2018 123,288 $ (123,288) 143,399 (143,399) Contribution deficiency (excess) $ Covered payroll $ 38,450,304 $ 32,091,131 $ 28,572,110 $ 26,747,686 $ 25,325,110 0.20% 0.38% 0.49% 0.46% 0.57% Contributions as a percentage of covered payroll - $ - ASRS - Long-term disability 2022 Contractually required contribution $ Contributions in relation to the contractually required contribution 2021 69,828 $ (69,828) $ - $ - $ Reporting Fiscal Year 2020 2019 56,856 $ (56,856) 48,822 $ (48,822) - 2018 42,908 $ (42,908) 40,972 (40,972) Contribution deficiency (excess) $ Covered payroll $ 38,450,304 $ 32,091,131 $ 28,572,110 $ 26,747,686 $ 25,325,110 0.18% 0.18% 0.17% 0.16% 0.16% Contributions as a percentage of covered payroll - $ - $ - $ - $ Note: The City implemented GASB 75 in fiscal year 2018. Information prior to 2018 is not available. Page 112 - CITY OF GOODYEAR, ARIZONA Required Supplementary Information Schedule of Pension/OPEB Contributions June 30, 2022 PSPRS Police Health Insurance Premium Benefit 2022 Reporting Fiscal Year 2020 2019 2021 2018 2017 Actuarially determined contribution $ 37,876 $ 21,141 $ 28,426 $ 30,174 $ 17,033 $ 30,113 Contributions in relation to the actuarially determined contribution $ (37,876) $ (21,141) $ (28,426) $ (30,174) $ (17,033) $ (30,113) Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - Covered payroll $ 13,130,356 $ 8,656,917 $ 9,220,411 $ 9,600,397 $ 9,388,019 $ 8,331,614 0.29% 0.24% 0.31% 0.31% 0.18% 0.36% 2022 2021 Contributions as a percentage of covered payroll PSPRS Fire Health Insurance Premium Benefit Reporting Fiscal Year 2020 2019 2018 2017 Actuarially determined contribution $ 30,073 $ 33,001 $ 26,821 $ 28,091 $ 22,840 $ 31,049 Contributions in relation to the actuarially determined contribution $ (30,073) $ (33,001) $ (26,821) $ (28,091) $ (22,840) $ (31,049) Contribution deficiency (excess) $ - $ - $ - $ - $ - $ - Covered payroll $ 12,175,244 $ 8,629,914 $ 8,191,627 $ 8,445,713 $ 8,787,982 $ 8,028,810 0.25% 0.38% 0.33% 0.33% 0.26% 0.39% Contributions as a percentage of covered payroll Note: The City implemented GASB 75 in fiscal year 2018. Information prior to 2017 is not available. Page 113 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Notes to Pension/OPEB Plan Schedules June 30, 2022 Note 1. Actuarially Determined Contribution Rates Actuarially determined contribution rates for PSPRS 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 2020 actuarial valuation Entry Age Normal Level percent-of-pay, closed 16 years for unfunded liabilities; 20 years for excess Asset valuation method Actuarial assumptions: Investment rate of return 7-Year smoothed market; 80%/120% market corridor Projected salary increases Wage growth Retirement age Mortality In the 2019 actuarial valuation, the investment rate of return was decreased from 7.4% to 7.3%. In the 2017 actuarial valuation, the investment rate of return was decreased from 7.5% to 7.4%. In the 2016 actuarial valuation, the investment rate of return was decreased from 7.85% to 7.5%. In the 2013 actuarial valuation, the investment rate of return was decreased from 8.0% to 7.85%. In the 2017 actuarial valuation, projected salary increases were decreased from 4.0%-8.0% to 3.5%7.5%. In the 2014 actuarial valuation, projected salary increases were decreased from 4.5%-8.5% to 4.0%8.0% In the 2013 actuarial valuation, projected salary increases were decreased from 5.0%-9.0% to 4.5%8.5%. In the 2017 actuarial valuation, wage growth was decreased from 4% to 3.5%. In the 2014 actuarial valuation, wage growth was decreased from 4.5% to 4.0%. In the 2013 actuarial valuation, wage growth was decreased from 5.0% to 4.5% 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. In the 2019 actuarial valuation, changed to PubS-2010 tables. In the 2017 actuarial valuation, changed to RP2014 tables, with 75% of MP-2016 fully generational projection scales. RP-2000 mortality table (adjusted by 105% for both males and females). Page 114 CITY OF GOODYEAR, ARIZONA Required Supplementary Information Notes to Pension/OPEB Plan Schedules June 30, 2022 Note 2. Factors That Affect Trends Arizona courts have ruled that provisions of a 2011 law that changed the mechanism for funding permanent pension benefit increases and increased employee pension contribution rates were unconstitutional or a breach of contract because those provisions apply to individuals who were members as of the law’s effective date. As a result, the PSPRS changed benefit terms to reflect the prior mechanism for funding permanent benefit increases for those members and revised actuarial assumptions to explicitly value future permanent benefit increases. PSPRS also reduced those members’ employee contribution rates. These changes are reflected in the plans’ pension liabilities for fiscal year 2015 (measurement date 2014) for members who were retired as of the law’s effective date and fiscal year 2018 (measurement date 2017) for members who retired or will retire after the law’s effective date. These changes also increased the PSPRS required pension contributions beginning in fiscal year 2016 for members who were retired as of the law’s effective date. These changes increased the required contributions beginning in fiscal year 2019 for members who retired or will retire after the law’s effective date. Page 115 SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES MAJOR GOVERNMENTAL FUNDS Capital Projects Funds x Non-Utility Development Impact Fees Fund – This fund accounts for the receipt and expenditure of development impact or expansion fees for all governmental activities. x GO Bonds Fund – This fund accounts for the proceeds and interest of the sale of voterapproved general obligation bonds that are used for authorized improvements. Debt Service Funds x McDowell Road Commercial Corridor ID Fund – This fund accounts for the debt portion of the McDowell Road Improvement District. x Community Facilities Districts Fund – This fund accounts for the debt portion of the City’s Community Facilities Districts, which are component units that provide general infrastructure and capital assets for the property within each District’s boundaries.  Page 116 CITY OF GOODYEAR, ARIZONA NON-UTILITY DEVELOPMENT IMPACT FEES Capital Projects Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Variance with Final Budget Original Final Actual $ 6,981,000 10,558,900 - $ 6,981,000 10,558,900 - $ 10,318,258 18,951,242 180,010 1,791 17,539,900 17,539,900 29,451,301 11,911,401 32,687,400 45,484,200 2,452,703 3,167,208 (2,452,703) 42,316,992 32,687,400 45,484,200 5,619,911 39,864,289 (15,147,500) (27,944,300) 23,831,390 51,775,690 (18,685,400) - (2,071,400) 2,729,900 (1,933,890) 2,729,900 137,510 - (18,685,400) 658,500 796,010 137,510 Net change in fund balances (33,832,900) (27,285,800) 24,627,400 51,913,200 Fund balance, beginning of year 55,713,143 55,713,143 55,713,143 - $ 21,880,243 $ 28,427,343 $ 80,340,543 $ 51,913,200 REVENUES Taxes Charges for services Investment income Other revenues Total revenues $ 3,337,258 8,392,342 180,010 1,791 EXPENDITURES Current: General Government Capital outlay Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Transfers out Transfers in Total other financing Sources (Uses) Fund balance, end of year Page 117 CITY OF GOODYEAR, ARIZONA GO BONDS Capital Projects Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Actual Variance with Final Budget REVENUES Investment income Other revenues Total revenues $ 15,000,000 $ 14,618,100 $ 104,887 - $ 104,887 (14,618,100) 15,000,000 14,618,100 104,887 (14,513,213) 170,149,700 140,586,600 60,359,308 80,227,292 - 225,000 217,121 7,879 170,149,700 140,811,600 60,576,429 80,235,171 (155,149,700) (126,193,500) (60,471,542) 65,721,958 26,040,000 75,219,400 26,040,000 (5,787,700) 46,647,700 23,475,000 2,715,816 (3,653,395) 26,340,053 (2,565,000) 2,715,816 2,134,305 (20,307,647) 101,259,400 66,900,000 48,877,474 (18,022,526) Net change in fund balances (53,890,300) (59,293,500) (11,594,068) 47,699,432 Fund balance, beginning of year 38,019,761 38,019,761 38,019,761 - $ (15,870,539) $ (21,273,739) $ 26,425,693 $ 47,699,432 EXPENDITURES Capital outlay Debt service Debt issuance cost Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Debt issuance Premium on debt issuance Transfers out Transfers in Total other financing Sources (Uses) Fund balance, end of year Page 118 CITY OF GOODYEAR, ARIZONA MCDOWELL ROAD COMMERCIAL CORRIDOR ID Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Variance with Final Budget Actual REVENUES Investment income Special assessments Other revenues $ Total revenues 1,000 3,573,000 - $ 1,000 3,573,000 - $ 3,640,847 1,128 $ (1,000) 67,847 1,128 3,574,000 3,574,000 3,641,975 67,975 229,300 229,300 85 229,215 2,840,000 734,000 2,840,000 734,000 2,235,000 702,720 605,000 31,280 3,803,300 3,803,300 2,937,805 865,495 Excess (deficiency) of revenues over (under) expenditures (229,300) (229,300) 704,170 933,470 Fund balance, beginning of year 231,689 231,689 231,689 - EXPENDITURES Current: Public works/streets Debt service: Principal Interest and fiscal charges Total expenditures Fund balance, end of year $ 2,389 $ Page 119 2,389 $ 935,859 $ 933,470 CITY OF GOODYEAR, ARIZONA COMMUNITY FACILITIES DISTRICTS Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Variance with Final Budget Actual REVENUES Taxes Investment income Special assessments $ Total revenues 6,330,400 2,609,900 $ 6,330,400 2,609,900 $ 6,531,771 6,064 2,716,419 $ 201,371 6,064 106,519 8,940,300 8,940,300 9,254,254 313,954 - - 9,720 (9,720) 6,723,000 3,063,300 6,737,000 3,077,100 6,269,000 2,877,573 468,000 199,527 9,786,300 9,814,100 9,156,293 657,807 (846,000) (873,800) 97,961 971,761 - (141,300) - 141,300 - (141,300) - 141,300 Net change in fund balance (846,000) (1,015,100) 97,961 1,113,061 Fund balance, beginning of year 1,259,320 1,259,320 1,259,320 - EXPENDITURES Current: General Government Debt service: Principal Interest and fiscal charges Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Payments to refunding escrow Total other financing sources (uses) Fund balance, end of year $ 413,320 $ Page 120 244,220 $ 1,357,281 $ 1,113,061 SUPPLEMENTARY INFORMATION COMBINING STATEMENTS AND BUDGETARY COMPARISON SCHEDULES NON- MAJOR GOVERNMENTAL FUNDS: Special Revenue Funds x Highway User Revenue Fund (HURF) – Funded through fuel taxes distributed from the State of Arizona. x Community Facilities Districts Fund – CFDs represent special districts formed for the purpose of financing the acquisition, construction, operation, and maintenance of the public infrastructure benefiting the community. x Office of Tourism Prop 302 – Used to account for restricted funds to support Maricopa County tourism, marketing, and promotion. x Grants Fund – Based on application to granting agencies by the City and availability of funding by grantors. x Ball Park – Used to account for the activities of the City’s ball park operations Debt Service Funds x Debt Service Fund – This fund was established for the accumulation of resources and the servicing of long-term debt not being financed by the proprietary funds. Revenues are generated from the property tax levy sufficient to meet the debt service requirements. Page 121 CITY OF GOODYEAR, ARIZONA Combining Balance Sheet Nonmajor Governmental Funds June 30, 2022 Special Revenue Highway User Community Office of Tourism Revenue Facilities District Prop 302 ASSETS Cash Investments Receivables: Taxes Intergovernmental Accounts Prepaid items Inventories $ 695,630 - $ 731,513 1,027,794 Total assets LIABILITIES Accounts payable Accrued wages and salaries Accrued liabilities Deposits held for others Due to other funds Unearned revenues 17,591 4,312 - 164,112 - 2,454,937 $ 6,608,700 $ 164,112 $ 317,718 24,470 24,121 190,208 210,011 660,685 $ 18,511 3,673 - $ - DEFERRED INFLOWS OF RESOURCES Unavailable revenues- property taxes Unavailable revenue-intergovernmental Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed Unassigned Total fund balances $ Page 122 $ $ Total liabilities Total liabilities, deferred inflows of resources, and fund balances 6,586,797 - 1,427,213 22,184 - - - - - - - 1,027,794 (70) 6,586,516 - 164,112 - 1,027,724 6,586,516 164,112 2,454,937 $ 6,608,700 $ 164,112 Grants $ 2,451,668 - Ball Park Special Revenue Debt Service $ $ 1,437,781 17,000 323,750 - 3,558,971 1,314,235 - 989,777 119 $ 14,446,955 1,314,354 139,696 - 157,287 2,169,294 21,312 323,750 1,027,794 $ 19,460,746 $ 4,230,199 $ 4,873,206 $ 1,129,592 $ 326,134 1,162,670 2,792,418 $ 72,472 43,652 2,427 - $ - $ Total $ 734,835 68,122 30,221 190,208 1,372,681 3,453,103 4,281,222 118,551 - 5,849,170 94 - 99,502 - 99,502 94 94 - 99,502 99,596 323,750 (374,867) 4,754,655 - 1,030,090 - 1,351,544 7,780,718 4,754,655 (374,937) (51,117) 4,754,655 1,030,090 13,511,980 1,129,592 $ 19,460,746 4,230,199 $ 4,873,206 $ Page 123 CITY OF GOODYEAR, ARIZONA Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds For the Year Ended June 30, 2022 Special Revenue Highway User Revenue REVENUES Taxes Intergovernmental Charges for services Investment income Contributions Other revenues $ Total revenues 6,918,602 179,346 51,147 - Community Facilities Districts $ 1,710,209 4,074 292,536 - Office of Tourism Prop 302 $ 260,979 - 7,149,095 2,006,819 260,979 8,098,528 1,200,654 1,483,025 - 159,367 - - 178,360 - - 9,299,182 1,661,385 159,367 Excess (deficiency) of revenues over (under) expenditures (2,150,087) 345,434 101,612 OTHER FINANCING SOURCES (USES) Debt issuance Transfers out Transfers in 2,656,524 598,000 - - Total other financing sources (uses): 2,656,524 598,000 - Net change in fund balances 506,437 943,434 101,612 Fund balances, beginning of year 521,287 5,643,082 62,500 EXPENDITURES Current: General government Public safety Public works/streets Culture and recreation Development services Capital outlay Debt service: Bond issuance costs Principal Interest and fiscal charges Total expenditures Fund balances, end of year $ Page 124 1,027,724 $ 6,586,516 $ 164,112 Grants $ $ 9,500,005 - Ball Park Special Revenue Debt Service $ $ 1,323,520 26,843 1,266,500 6,031 8,416,285 65 - Total $ 10,126,494 16,679,586 1,502,866 82,129 1,559,036 6,031 9,500,005 2,622,894 8,416,350 29,956,142 177,619 371,032 2,000 208,000 1,814,423 5,629,023 412,997 37 - 1,660,681 371,032 8,098,528 5,790,390 208,000 3,428,074 - 7,570,000 2,853,273 4,665,699 3,506,590 178,360 12,235,699 6,359,863 2,573,074 16,465,293 8,172,326 38,330,627 6,926,931 (13,842,399) 244,024 (8,374,485) (6,827,300) - 14,867,967 - 598,000 (6,827,300) 17,524,491 (6,827,300) 14,867,967 - 11,295,191 99,631 1,025,568 244,024 2,920,706 (150,748) 3,729,087 786,066 10,591,274 (51,117) $ 4,754,655 $ 1,030,090 $ Page 125 13,511,980 CITY OF GOODYEAR, ARIZONA HIGHWAY USER REVENUE Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Actual Variance with Final Budget REVENUES Intergovernmental revenue Charges for services Investment income $ Total revenues 6,102,600 - $ 6,102,600 - $ 6,918,602 179,346 51,147 $ 816,002 179,346 51,147 6,102,600 6,102,600 7,149,095 1,046,495 8,724,600 2,044,400 8,801,900 2,403,900 8,098,528 1,200,654 703,372 1,203,246 10,769,000 11,205,800 9,299,182 1,906,618 (4,666,400) (5,103,200) (2,150,087) 2,953,113 EXPENDITURES Current: Highways and streets Capital outlay Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Transfers out Transfers in Total other financing sources (uses) (18,900) 4,666,400 (205,700) 4,666,400 2,656,524 205,700 (2,009,876) 4,647,500 4,460,700 2,656,524 (1,804,176) Net change in fund balance (18,900) (642,500) 506,437 1,148,937 Fund balance, beginning of year 521,287 521,287 521,287 - Fund balance, end of year $ 502,387 Page 126 $ (121,213) $ 1,027,724 $ 1,148,937 CITY OF GOODYEAR, ARIZONA COMMUNITY FACILITIES DISTRICTS Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Actual Variance with Final Budget REVENUES Taxes Investment income Contributions $ Total revenues 2,014,200 3,300 106,000 $ 2,014,200 3,300 106,000 $ 1,710,209 4,074 292,536 $ (303,991) 774 186,536 2,123,500 2,123,500 2,006,819 (116,681) 2,008,300 2,786,300 1,483,025 1,303,275 - - 178,360 (178,360) 2,008,300 2,786,300 1,661,385 1,124,915 115,200 (662,800) 345,434 1,008,234 EXPENDITURES Current: General government Debt service Bond issuance costs Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Debt issuance Total other financing sources (uses) - - 598,000 598,000 - - 598,000 598,000 Net change in fund balance 115,200 (662,800) 943,434 1,606,234 Fund balance, beginning of year 5,643,082 5,643,082 5,643,082 - Fund balance, end of year $ 5,758,282 Page 127 $ 4,980,282 $ 6,586,516 $ 1,606,234 CITY OF GOODYEAR, ARIZONA OFFICE OF TOURISM PROP 302 Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Actual Variance with Final Budget REVENUES Intergovernmental revenue $ Total revenues - $ - $ 260,979 $ 260,979 - - 260,979 260,979 Current: Culture and recreation - 332,200 159,367 172,833 Total expenditures - 332,200 159,367 172,833 Net change in fund balance - (332,200) 101,612 433,812 Fund balance, beginning of year 62,500 62,500 62,500 - EXPENDITURES Fund balance, end of year $ 62,500 $ Page 128 (269,700) $ 164,112 $ 433,812 CITY OF GOODYEAR, ARIZONA GRANTS Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Actual Variance with Final Budget 9,500,005 $ Original Final $ 11,364,800 $ 11,364,800 11,364,800 11,364,800 9,500,005 (1,864,795) Current: General government Public safety Culture and recreation Development services Capital outlay 10,445,300 499,300 759,000 215,900 576,600 7,000 2,000,000 1,166,700 177,619 371,032 2,000 208,000 1,814,423 38,281 205,568 5,000 1,792,000 (647,723) Total expenditures 11,703,600 3,966,200 2,573,074 1,393,126 (338,800) 7,398,600 6,926,931 (471,669) REVENUES Intergovernmental revenue Total revenues $ (1,864,795) EXPENDITURES Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING SOURCES (USES) Transfers out Total other financing sources (uses) (564,100) (8,275,150) (6,827,300) 1,447,850 (564,100) (8,275,150) (6,827,300) 1,447,850 Net change in fund balance (902,900) (876,550) 99,631 976,181 Fund balance, beginning of year (150,748) (150,748) (150,748) - $ (1,053,648) $ (1,027,298) Fund balance, end of year Page 129 $ (51,117) $ 976,181 CITY OF GOODYEAR, ARIZONA BALL PARK Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Actual Variance with Final Budget REVENUES Charges for services Investment income Contributions Miscellaneous $ Total revenues 3,409,100 50,000 - $ 2,125,700 1,333,400 - $ 1,323,520 26,843 1,266,500 6,031 $ (802,180) 26,843 (66,900) 6,031 3,459,100 3,459,100 2,622,894 (836,206) 5,871,500 678,000 5,970,600 678,000 5,629,023 412,997 341,577 265,003 6,690,000 3,740,000 6,690,000 3,740,000 7,570,000 2,853,273 (880,000) 886,727 16,979,500 17,078,600 16,465,293 613,307 (13,520,400) (13,619,500) (13,842,399) (222,899) OTHER FINANCING SOURCES (USES) Transfers in Total other financing sources (uses) 14,472,400 14,921,500 14,867,967 (53,533) 14,472,400 14,921,500 14,867,967 (53,533) Net change in fund balance 952,000 1,302,000 1,025,568 (276,432) Fund balance, beginning of year 3,729,087 3,729,087 3,729,087 - EXPENDITURES Current: Culture and recreation Capital outlay Debt Service: Principal Interest Total expenditures Excess (deficiency) of revenues over (under) expenditures Fund balance, end of year $ 4,681,087 $ Page 130 5,031,087 $ 4,754,655 $ (276,432) CITY OF GOODYEAR, ARIZONA DEBT SERVICE FUND Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Variance with Final Budget Original Final Actual $ 8,604,100 8,604,100 $ 8,604,100 8,604,100 $ 8,416,285 65 8,416,350 REVENUES Taxes Investment income Total revenues $ (187,815) 65 (187,750) EXPENDITURES Current: General government Debt service Bond issuance cost Principal Interest and fiscal charges Total expenditures 395,900 395,900 37 395,863 5,569,300 1,621,000 1,824,500 9,410,700 5,569,300 1,621,000 1,824,500 9,410,700 4,665,699 3,506,590 8,172,326 5,569,300 (3,044,699) (1,682,090) 1,238,374 Net change in fund balance (806,600) (806,600) 244,024 1,050,624 Fund balance, beginning of year 786,066 786,066 786,066 - (20,534) $ 1,030,090 Fund balance, end of year $ (20,534) $ Page 131 $ 1,050,624 Page 132 BUDGETARY COMPARISON SCHEDULES OTHER FUNDS Page 133 CITY OF GOODYEAR, ARIZONA PARK AND RIDE MARQUEE Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Charges for services Other revenues $ Total revenues 109,300 - $ 109,300 - 108,677 - (623) - 109,300 109,300 147,148 37,848 Current: Highways and streets 1,372,700 1,372,700 5,284 1,367,416 Total expenditures 1,372,700 1,372,700 5,284 1,367,416 Net change in fund balances (1,263,400) (1,263,400) 141,864 1,405,264 Fund balance, beginning of year 1,260,501 1,260,501 1,260,501 - (2,899) $ 1,402,365 $ 1,405,264 EXPENDITURES Fund balance, end of year $ (2,899) Page 134 $ CITY OF GOODYEAR, ARIZONA COURT ENHANCEMENT Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Fines and forfeits Investment income $ Total revenues 55,000 - $ 55,000 - 83,095 314 28,095 314 55,000 55,000 83,409 28,409 280,200 280,200 48,476 231,724 Total expenditures 280,200 280,200 48,476 231,724 Net change in fund balances (225,200) (225,200) 34,933 260,133 Fund balance, beginning of year 270,480 270,480 270,480 - EXPENDITURES Current: Public safety Fund balance, end of year $ 45,280 Page 135 $ 45,280 $ 305,413 $ 260,133 CITY OF GOODYEAR, ARIZONA FILL-THE-GAP Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Fines and forfeits Investment income $ Total revenues 6,000 - $ 6,000 - 5,724 220 (276) 220 6,000 6,000 5,944 (56) 33,600 33,600 25 33,575 Total expenditures 33,600 33,600 25 33,575 Net change in fund balances (27,600) (27,600) 5,919 33,519 Fund balance, beginning of year 63,213 63,213 63,213 - EXPENDITURES Current: Public Safety Fund balance, end of year $ 35,613 Page 136 $ 35,613 $ 69,132 $ 33,519 CITY OF GOODYEAR, ARIZONA JCEF Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Fines and forfeits Investment income $ Total revenues 8,500 - $ 8,500 - 14,559 785 6,059 785 8,500 8,500 15,344 6,844 124,500 124,500 92 124,408 Total expenditures 124,500 124,500 92 124,408 Net change in fund balances (116,000) (116,000) 15,252 131,252 Fund balance, beginning of year 120,121 120,121 120,121 - EXPENDITURES Current: Public Safety Fund balance, end of year $ 4,121 Page 137 $ 4,121 $ 135,373 $ 131,252 CITY OF GOODYEAR, ARIZONA IMPOUND Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Charges for services Investment income $ Total revenues 70,800 1,200 $ 70,800 1,200 97,318 - 26,518 (1,200) 72,000 72,000 97,318 25,318 266,400 - 251,000 15,400 64,775 14,812 186,225 588 Total expenditures 266,400 266,400 79,587 186,813 Net change in fund balances (194,400) (194,400) 17,731 212,131 Fund balance, beginning of year 240,862 240,862 240,862 - EXPENDITURES Current: Public safety Capital outlay Fund balance, end of year $ 46,462 Page 138 $ 46,462 $ 258,593 $ 212,131 CITY OF GOODYEAR, ARIZONA AZ SMART AND SAFE Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Intergovernmental revenue $ Total revenues - $ - 543,926 543,926 - - 543,926 543,926 Other Financing Sources (Uses): Transfers out Total other financing Sources (Uses) - (630,000) (627,994) 2,006 - (630,000) (627,994) 2,006 Net change in fund balances - (630,000) (84,068) 545,932 Fund balance, beginning of year 84,098 84,098 84,098 - Fund balance, end of year $ 84,098 Page 139 $ (545,902) $ 30 $ 545,932 CITY OF GOODYEAR, ARIZONA OFFICER SAFETY EQUIPMENT Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Final Non-GAAP Actual Variance with Final Budget $ $ REVENUES Fines and forfeits $ Total revenues 20,000 $ 20,000 18,217 (1,783) 20,000 20,000 18,217 (1,783) 59,300 59,300 - 59,300 Total expenditures 59,300 59,300 - 59,300 Net change in fund balances (39,300) (39,300) 18,217 57,517 Fund balance, beginning of year 47,310 47,310 47,310 - EXPENDITURES Current: Public safety Fund balance, end of year $ 8,010 Page 140 $ 8,010 $ 65,527 $ 57,517 CITY OF GOODYEAR, ARIZONA WATER AND WASTEWATER Enterprise Fund Schedule of Operations Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Operating Revenues Charges for services Other revenues $ Total operating revenues 45,653,700 88,000 Final $ 47,353,700 88,000 Actual $ 52,994,849 399,907 Variance with Final Budget $ 5,641,149 311,907 45,741,700 47,441,700 53,394,756 5,953,056 Salaries, wages and benefits Cost of sales and services Depreciation 8,032,400 86,433,400 - 8,032,400 78,509,200 - 6,897,572 26,074,644 10,083,801 1,134,828 52,434,556 (10,083,801) Total operating expenses 94,465,800 86,541,600 43,056,017 43,485,583 (48,724,100) (39,099,900) 10,338,739 49,438,639 Investment income Interest and debt cost Gain (loss) on sale of assets 215,400 (12,290,000) - 215,400 (12,290,000) - 24,844 (6,148,427) 35,570 (190,556) 6,141,573 35,570 Total non-operating revenue (expense) (12,074,600) (12,074,600) (6,088,013) 5,986,587 (60,798,700) (51,174,500) 4,250,726 55,425,226 Capital contributions Transfers out Transfers in 13,074,900 (6,782,800) 2,424,500 13,074,900 (6,620,600) - 11,254,372 (6,554,122) - (1,820,528) 66,478 - Change in net position (52,082,100) (44,720,200) 8,950,976 53,671,176 316,054,412 316,054,412 316,054,412 - Operating Expenses Operating income (loss) Non-operating Revenues (Expenses) Income (loss) before contributions and transfers Total net position, beginning of year Total net position, end of year $ 263,972,312 $ Page 141 271,334,212 $ 325,005,388 $ 53,671,176 CITY OF GOODYEAR, ARIZONA SANITATION Enterprise Fund Schedule of Operations Budget and Actual For the Year Ended June 30, 2022 Budgeted Amounts Original Operating Revenues Charges for services Other revenues $ Total operating revenues 7,692,200 9,000 Final $ 7,692,200 9,000 Actual $ 7,658,250 25,278 Variance with Final Budget $ (33,950) 16,278 7,701,200 7,701,200 7,683,528 (17,672) Salaries, wages and benefits Cost of sales and services Depreciation 1,314,100 9,941,700 - 1,314,100 10,401,700 - 1,180,075 5,899,572 234,771 134,025 4,502,128 (234,771) Total operating expenses 11,255,800 11,715,800 7,314,418 4,401,382 (3,554,600) (4,014,600) 369,110 4,383,710 Investment income 25,000 25,000 9,022 (15,978) Total non-operating revenue (expense) 25,000 25,000 9,022 (15,978) (3,529,600) (3,989,600) 378,132 4,367,732 Transfers out (1,625,000) (1,495,000) (1,461,812) 33,188 Change in net position (5,154,600) (5,484,600) (1,083,680) 4,400,920 5,693,649 5,693,649 5,693,649 - Operating Expenses Operating income (loss) Non-operating Revenues (Expenses) Income (loss) before contributions and transfers Total net position, beginning of year Total net position, end of year $ 539,049 $ Page 142 209,049 $ 4,609,969 $ 4,400,920 City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 STATISTICAL SECTION The Statistical Section presents financial statement trends as well as detailed financial and operational information not available elsewhere in the report. The Statistical Section is intended to enhance the reader’s understanding of the information presented in the Financial Statements, Notes to the Financial Statements, and Other Supplementary Information presented in this report. STATISTICAL SECTION STATISTICAL SECTION The statistical section presents financial statement trends as well as detailed financial and operational information not available elsewhere in the report. The statistical section is intended to enhance the reader’s understanding of the information presented in the financial statements, notes to the financial statements, and other supplementary information presented in this report. The statistical section is comprised of the five categories of statistical information presented below. Financial Trends These schedules contain trend information to help the reader understand how the City’s financial position and financial activities have changed over time. Revenue Capacity These schedules contain information to help the reader assess the factors affecting the City’s ability to generate revenue. Debt Capacity These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the government’s ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place. Operating Information These schedules contain information about the City’s operations and various resources to help the reader understand how the information in the City’s financial report relates to the services the government provides and the activities it performs. Due to cost considerations for the accumulation of data, the City has elected to present less than ten years of data, or data from less than nine year prior, for certain statistical schedules. This information will be accumulated and reported each year until the complete ten years of data is presented. Note: For locally assessed property (i.e., excluding mines, utilities, etc.) Proposition 117, approved by voters in 2012, amended the Arizona Constitution to require that all property taxes after fiscal year 201415 be based upon property values limited to five percent in annual growth. The aggregate assessed value of all taxable properties within a taxing jurisdiction (i.e., after applying assessment ratios based on the use of a property), including property values with a growth limit, is currently referred to as net limited assessed value and formerly as primary assessed value. In accordance with Proposition 117, this value is used for all taxing purposes beginning fiscal year 2015-16. Aggregate assessed value without a growth limit is currently referred to as net full cash assessed value and formerly as secondary assessed value. This remains the value utilized for determining debt capacity limits. Page 143 CityofGoodyear NetPositionbyComponent LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2013 2014** 2015 2016 GovernmentalActivities Netinvestmentincapitalassets Restricted Unrestricted TotalGovernmentalActivitiesNetPosition $333,034,884 99,128,020 35,820,702 467,983,606 $345,513,895 85,246,465 9,672,461 440,432,821 $365,019,949 92,247,738 5,722,007 462,989,694 $361,739,970 92,276,066 19,147,997 473,164,033 BusinessͲtypeActivities Netinvestmentincapitalassets Restricted Unrestricted TotalBusinessͲtypeActivitiesNetPosition 178,456,590 3,196,131 16,616,254 198,268,975 177,274,142 5,640,492 9,860,573 192,775,207 176,380,867 7,607,902 14,190,297 198,179,066 180,640,162 18,131,719 7,380,491 206,152,372 PrimaryGovernment Netinvestmentincapitalassets Restricted Unrestricted TotalPrimaryGovernmentNetPosition 511,491,474 102,324,151 52,436,956 $666,252,581 522,788,037 90,886,957 9,112,875 $622,787,869 541,400,816 99,855,640 19,912,304 $661,168,760 542,380,132 110,407,785 26,528,488 $679,316,405 Notes: **NetpositionadjustedforadoptionofGASBStatementNo.68 Source:StatementofNetPosition Page 144 Table1 FiscalYear 2017 2018 2019 2020 2021 2022 $379,899,821 90,497,505 16,944,442 487,341,768 $381,473,262 87,435,376 29,981,817 498,890,455 $342,610,234 149,077,511 43,643,472 535,331,217 $334,972,021 155,095,665 112,776,992 602,844,678 $435,167,043 147,571,052 106,628,136 689,366,231 $505,965,429 158,679,422 130,927,545 795,572,396 181,242,982 21,072,234 15,974,822 218,290,038 199,032,946 13,468,708 24,366,584 236,868,238 227,004,152 6,346,204 26,960,200 260,310,556 254,623,951  Ͳ 31,895,840 286,519,791 302,551,844  Ͳ 19,196,217 321,748,061 276,352,992 21,277,991 31,984,374 329,615,357 561,142,803 111,569,739 32,919,264 $705,631,806 580,506,208 100,904,084 54,348,401 $735,758,693 569,614,386 155,423,715 70,603,672 $795,641,773 589,595,972 155,095,665 144,672,832 $889,364,469 737,718,887 147,571,052 125,824,353 $1,011,114,292 782,318,421 179,957,413 162,911,919 $1,125,187,753 Page 145 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) 2013 2014 2015 2016 2017 Expenses** GovernmentalActivities: Generalgovernment Publicsafety Highwaysandstreets Publicworks Cultureandrecreation Developmentservices InterestonlongͲtermdebt TotalGovernmentalActivitiesExpenses $17,652,646 27,987,404 14,355,644 3,090,345 5,539,612 7,194,428 10,411,562 $86,231,641 $18,216,169 30,710,193 19,368,539 2,773,348 5,827,309 5,836,254 9,282,269 $92,014,081 $19,624,056 31,834,683 17,941,162 3,361,822 6,422,764 7,005,308 8,763,353 $94,953,148 $19,824,313 34,823,588 20,753,487 7,920,958 6,880,654 7,981,904 8,479,284 $106,664,188 $20,151,975 47,535,184 19,181,162 3,569,658 15,363,752 7,316,935 12,131,284 $125,249,950 BusinessͲtypeActivities Waterandwastewater Sanitation Stadium* TotalBusinessͲtypeActivitiesExpenses $21,912,587 5,246,666 12,204,354 $39,363,607 $23,511,395 5,472,534 12,529,987 $41,513,916 $25,489,522 5,802,163 12,407,494 $43,699,179 $27,647,487 6,444,459 12,647,134 $46,739,080 $30,139,626 5,868,228 Ͳ $36,007,854 TotalPrimaryGovernmentExpenses $125,595,248 $133,527,997 $138,652,327 $153,403,268 $161,257,804 Notes: ** Beginninginfiscalyear2016expensefunctionswereconsolidatedtoalignwiththebasicfinancialstatement Source:StatementofActivities Page 146 Table2 2018 2019 2020 2021 2022 $23,781,937 45,439,446 26,460,464 4,232,567 19,080,188 6,591,111 11,582,014 $137,167,727 $23,478,993 52,241,594 21,330,274 7,972,935 19,083,232 8,380,985 8,797,275 $141,285,288 $26,604,672 59,271,160 21,599,888 10,177,808 18,739,373 10,466,142 9,009,554 $155,868,597 $31,006,001 60,372,627 21,439,214 9,655,317 19,716,170 11,665,512 10,360,626 $164,215,467 $34,157,389 64,651,123 23,563,017 5,602,891 25,843,304 14,906,593 9,236,464 $177,960,781 $26,853,794 6,206,843 Ͳ $33,060,637 $31,493,180 6,681,134 Ͳ $38,174,314 $40,540,282 6,028,780 Ͳ $46,569,062 $48,483,586 6,547,622 Ͳ $55,031,208 $49,204,444 7,314,418 Ͳ $56,518,862 $170,228,364 $179,459,602 $202,437,659 $219,246,675 $234,479,643 continued Page 147 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2013 2014 2015 2016 2017 ProgramRevenue* GovernmentalActivities: ChargesforServices: Generalgovernment Publicsafety Highwayandstreets Publicworks Cultureandrecreation Developmentalservices OperatingGrantsandContributions CapitalGrantsandContributions TotalGovernmentalActivitiesProgramRevenues $2,884,854 1,176,336  Ͳ  Ͳ 304,128 6,206,750 4,654,268 11,358,824 $26,585,160 $2,603,723 714,614  Ͳ  Ͳ 433,384 6,899,047 7,565,511 6,171,185 $24,387,464 $2,766,974 1,624,427  Ͳ  Ͳ 416,607 5,353,778 10,777,134 8,252,449 $29,191,369 $2,398,256 1,713,627  Ͳ  Ͳ 386,041 7,043,227 9,518,206 12,134,476 $33,193,833 $2,368,056 1,313,160  Ͳ  Ͳ 3,135,416 9,079,431 10,546,333 12,246,216 $38,688,612 BusinessͲtypeActivities ChargesforServices: Waterandwastewater Sanitation Stadium* OperatingGrantsandContributions CapitalGrantsandContributions TotalBusinessͲtypeActivitiesRevenues $22,667,401 6,368,920 1,741,609  Ͳ 7,987,680 38,765,610 $24,767,428 6,641,318 2,182,278  Ͳ 5,962,050 39,553,074 $24,650,687 6,922,425 2,237,359  Ͳ 14,454,883 48,265,354 $27,724,410 7,125,427 2,234,046 110,837 11,692,490 48,887,210 $31,358,803 7,577,840  Ͳ 110,718 13,317,172 52,364,533 TotalPrimaryGovernmentRevenues $65,350,770 $63,940,538 $77,456,723 $82,081,043 $91,053,145 Net(Expense)/Revenue GovernmentalActivities BusinessͲtypeActivities TotalPrimaryGovernmentNetRevenues $(59,646,481) $(67,626,617) $(65,761,779) $(73,470,355) $(86,561,338) (597,997) (1,960,842) 4,566,175 2,148,130 16,356,679 $(60,244,478) $(69,587,459) $(61,195,604) $(71,322,225) $(70,204,659) Note: *Beginninginfiscalyear2016programrevenueswereconsolidatedtoalignwiththebasicfinancialstatements Source:StatementofActivities Page 148 Table2 FiscalYear 2018 2019 2020 2021 2022 $2,592,414 1,373,556 81,727  Ͳ 2,984,530 10,416,143 16,164,698 7,442,815 $41,055,883 $4,965,435 6,987,626 382,531 405,393 4,008,274 12,993,399 9,809,818 21,231,123 $60,783,599 $3,509,152 7,243,340 440,190 583,405 2,916,950 18,765,859 18,571,098 23,253,699 $75,283,693 $7,070,344 7,421,123 490,969 501,541 2,765,727 19,839,213 9,587,222 30,499,488 $78,175,627 $4,052,068 8,569,570 722,058 603,704 4,322,415 17,598,359 20,334,900 42,192,506 $98,395,580 $35,203,483 7,812,267  Ͳ  Ͳ 12,237,823 55,253,573 $42,658,585 8,058,461  Ͳ  Ͳ 12,962,807 63,679,853 $60,392,907 8,319,350  Ͳ  Ͳ 5,765,107 74,477,364 $62,983,880 8,042,545  Ͳ  Ͳ 26,481,652 97,508,077 $53,394,756 7,683,528  Ͳ  Ͳ 11,254,372 72,332,656 $96,309,456 $124,463,452 $149,761,057 $175,683,704 $170,728,236 $(96,111,844) $(80,501,689) $(80,584,904) $(86,039,840) $(79,565,201) 22,192,936 25,505,539 27,908,302 42,476,869 15,813,794 $(73,918,908) $(54,996,150) $(52,676,602) $(43,562,971) $(63,751,407) continued Page 149 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2013 RevenuesandOtherChangesin NetPosition GovernmentalActivities: Taxes Intergovernmental Investmentincome Specialassessments* Miscellaneous Transfers SpecialitemͲLossondebtextinguishment TotalGovernmentalActivities 2014 2015 2016 2017 $58,957,595 $63,495,983 $66,223,459 $71,256,446 $74,899,373 14,194,960 15,285,440 16,361,588 16,848,837 20,019,457 439,982 414,689 361,146 710,040 560,547 Ͳ 2,189,906 4,980,000 Ͳ Ͳ 1,455,665 1,183,618 975,258 393,977 886,502 (4,876,544) (5,138,252) (582,797) (5,564,606) 2,800,000 Ͳ Ͳ Ͳ Ͳ Ͳ $70,171,658 $77,431,384 $88,318,654 $83,644,694 $99,165,879 BusinessͲtypeActivities Investmentincome Proceedsfromthesaleofwaterrights Miscellaneous Transfers TotalBusinessͲtypeActivities $95,839 Ͳ 432,983 4,876,544 $5,405,366 TotalPrimaryGovernment $75,577,024 $82,929,078 $89,156,338 $89,469,870 $96,520,060 ChangesinNetPosition GovernmentalActivities BusinessͲtypeActivities TotalPrimaryGovernment $10,525,177 $9,804,767 $22,556,875 $10,174,339 $12,604,541 4,807,369 3,536,852 5,403,859 7,973,306 13,710,860 $15,332,546 $13,341,619 $27,960,734 $18,147,645 $26,315,401 $136,531 Ͳ 222,911 5,138,252 $5,497,694 $151,405 Ͳ 103,482 582,797 $837,684 Note: *Priortofiscalyear2014SpecialAssessmentswereshowninPublicWorksͲCapitalGrantsandContributions Source:StatementofActivities Page 150 $237,615 Ͳ 22,955 5,564,606 $5,825,176 $123,100 Ͳ 31,081 (2,800,000) $(2,645,819) Table2 FiscalYear 2018 2019 $82,662,446 $90,314,174 19,967,694 21,244,412 1,196,857 4,661,685 Ͳ Ͳ 341,814 934,949 3,700,000 3,700,000 (36,893) Ͳ $107,868,811 $120,855,220 2020 2021 2022 $116,603,604 22,785,856 4,412,256 Ͳ 797,405 3,499,244 Ͳ $148,098,365 $137,957,936 26,494,716 899,168 Ͳ 309,020 6,900,553 Ͳ $172,561,393 $154,920,196 29,850,191 (3,080,671) Ͳ 1,240,870 8,015,934 Ͳ $190,946,520 $47,246 $1,595,877 $1,800,177 $(461,996) $33,866 Ͳ Ͳ Ͳ Ͳ Ͳ 37,024 40,902 Ͳ 113,950 35,570 (3,700,000) (3,700,000) (3,499,244) (6,900,553) (8,015,934) $(3,615,730) $(2,063,221) $(1,699,067) $(7,248,599) $(7,946,498) $104,253,081 $118,791,999 $146,399,298 $165,312,794 $183,000,022 $11,756,967 $40,353,531 $67,513,461 $86,521,553 $111,381,319 18,577,206 23,442,318 26,209,235 35,228,270 7,867,296 $30,334,173 $63,795,849 $93,722,696 $121,749,823 $119,248,615 concluded Page 151 Page 152 Table3 CityofGoodyear GovernmentalActivitiesTaxRevenuesBySource LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) StateSharedRevenuesͲnot RestrictedforSpecificPrograms Fiscal Year Property Taxes Sales& UseTaxes Franchise Taxes StateShared Sales StateRevenue Sharing HighwayUser Revenue 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 16,218,397 17,109,458 18,171,606 19,114,087 19,875,628 20,649,103 22,099,698 23,673,696 25,858,467 28,180,626 40,222,752 43,775,464 45,333,649 49,309,600 52,085,570 58,831,503 64,940,363 89,722,744 108,495,439 122,858,885 2,529,456 2,611,061 2,718,204 2,832,759 2,941,175 3,181,840 3,274,113 3,207,164 3,604,030 3,880,685 7,527,259 8,009,713 8,459,645 8,988,686 10,324,010 10,354,186 11,573,618 12,074,091 14,084,067 17,488,685 6,667,701 7,275,727 7,901,942 7,859,101 9,665,448 9,613,508 9,670,794 10,711,765 12,410,649 12,361,506 3,575,158 3,681,156 4,041,402 4,264,827 5,066,574 5,042,068 5,463,045 5,622,730 6,020,431 7,149,095 Source:CityFinancialRecordsandReports  Page 153 CityofGoodyear ExciseTaxCollections LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2013 2014 2015 2016 2017 CityPrivilege(Sales)Tax StateͲSharedSalesTax StateͲSharedIncomeTax StateͲShareVehicleLicenseTax FinesandForfeitures FranchiseTaxes $40,222,752 5,342,879 6,667,701 2,184,380 809,334 2,529,456 $43,775,464 5,681,717 7,275,727 2,327,996 884,735 2,611,016 $45,333,649 5,965,400 7,901,942 2,494,245 860,313 2,718,204 $49,309,600 6,258,721 7,859,101 2,729,966 839,108 2,832,759 $52,085,570 7,217,395 9,665,448 3,106,615 925,314 2,941,175 Total $57,756,502 $62,556,655 $65,273,754 $69,829,255 $75,941,517 Source:CityFinancialRecordsandReports Page 154 Table4 FiscalYear 2018 2019 2020 2021 2022 $58,831,503 7,151,224 9,613,508 3,202,962 1,044,317 3,181,840 $64,940,363 8,121,305 9,670,794 3,452,313 1,044,516 3,274,113 $89,722,744 8,558,218 10,711,765 3,515,873 869,101 3,207,164 $108,495,439 9,962,516 12,410,649 4,121,551 1,037,122 3,604,030 $122,858,885 13,422,577 12,361,506 4,066,108 1,138,437 3,880,685 $83,025,354 $90,503,404 $116,584,865 $139,631,307 $157,728,198 Page 155 CityofGoodyear Sales&UseTaxes byIndustryClassification LastTenFiscalYears (Unaudited) FiscalYear 2013 2014 2015 2016 2017 RetailTrade FoodforHomeComsumption RetailSalesSingleItemOver$5,000 OnlineMarketplace Construction Restaurant&Bar Utilities RealEstate UseTax Hotels Miscellaneous $14,265,735 N/A N/A N/A 7,027,296 5,079,528 3,656,309 4,405,695 N/A 885,571 873,005 $15,787,043 N/A N/A N/A 7,988,471 5,450,424 3,819,536 4,467,373 N/A 849,052 968,896 $16,348,224 N/A N/A N/A 5,559,142 6,343,415 4,051,837 5,480,481 N/A 1,067,357 1,032,464 $17,279,498 N/A N/A N/A 7,545,663 7,032,111 4,077,652 5,575,550 N/A 1,096,710 839,592 $15,858,660 3,025,758 1,467,287 N/A 10,836,043 8,506,564 3,606,813 4,772,566 1,185,539 1,109,804 511,710 Services Mining&Government Manufacturing WholesaleTrade 1,700,258 970 759,858 977,475 1,764,488 4,024 931,362 1,072,608 2,424,312 7,159 1,318,999 1,130,527 2,833,590 6,534 1,410,894 1,032,679 N/A N/A N/A N/A Total* $39,631,700 $43,103,277 $44,763,917 $48,730,473 $50,880,744 Note:TotalmaydifferfromGovernmentalActivitiesTaxRevenuesBySourcebecauseof differenceinreportingperiods. Source:ArizonaDepartmentofRevenueNorthAmericanIndustryCodeSystem(NAICS)&BusinessClassSummary Page 156 Table5 FiscalYear 2018 2019 2020 2021 2022 $17,225,692 3,010,974 1,551,211 N/A 13,341,879 9,225,969 3,804,722 5,005,280 1,530,696 1,269,275 647,714 $19,005,260 3,521,946 1,572,031 N/A 16,452,327 9,958,478 3,882,328 5,690,265 3,025,135 1,408,405 690,088 $23,110,619 4,244,991 1,808,400 1,420,681 32,982,384 10,088,705 3,880,600 6,518,205 3,013,942 1,302,400 717,475 $33,935,084 4,934,402 2,235,620 4,453,219 32,360,764 11,978,934 4,325,833 8,006,495 3,414,172 1,682,639 436,584 $34,990,477 5,136,245 2,292,930 4,173,776 38,424,569 14,691,883 4,898,487 10,860,200 3,522,351 2,444,697 688,860 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $56,613,413 $65,206,263 $89,088,402 $107,763,744 $122,124,474 Page 157 CityofGoodyear FundBalancesofGovernmentalFunds LastTenFiscalYears (modifiedaccrualbasisofaccounting) (Unaudited) FiscalYear 2013 2014 2015 2016 2017 GeneralFund Nonspendable: Advancestootherfunds Inventories Prepaiditems Restrictedby: Chartermandates Court Lawenforcement Transit Assignedto: ITreplacement Facilitiesassetmgmtplan Fleetreplacement Riskmanagement Parksmanagement Policeassetreserve Fireassetreserve Trafficsignalreserve GeneralFundFY2022Budget Unassigned 3,528,982 234,813 208,085 543,022 3,676,547 221,290 274,392 644,135 3,841,444 240,631 309,112 745,210 4,009,183 178,351 427,243 847,446 4,186,816 200,753 384,144 952,239 170,684 Ͳ 3,032,429 357,741 Ͳ Ͳ Ͳ Ͳ Ͳ 33,325,255 1,484,148 Ͳ 1,502,483 792,947 Ͳ Ͳ Ͳ Ͳ Ͳ 43,707,677 108,301 498,851 Ͳ 2,508,319 3,196,101 1,088,234 1,077,452 Ͳ 1,271,367 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 49,783,760 52,620,845 1,829,656 Ͳ 1,251,242 933,704 2,729,350 2,147,582 403,209 Ͳ Ͳ 53,399,369 TotalGeneralFund $42,858,609 $53,795,585 $60,181,980 $65,756,477 $70,352,362 $961,840 $961,840 $961,840 $961,840 $1,251,242 8,916 25,261 21,656 Ͳ Ͳ 486,842 504,865 573,473 667,798 683,056 AllOtherGovernmentalFunds Nonspendable: Inventories Prepaiditems Restrictedby: Debtservice Developmentimpactfees Highwayuserfunds Tourism Transit Capitalprojects Communityfacilitiesdistrictsoperations Committed BallPark Unassigned TotalAllOtherGovernmentalFunds $595,675 $650,344 $487,413 $564,639 $533,304 36,182 Ͳ Ͳ Ͳ Ͳ 15,482,259 14,848,703 13,810,210 12,989,198 13,219,610 16,241,644 7,892,792 9,833,566 12,882,857 12,428,141 493,395 47,570 174,025 721 37,130 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 1,695,700 274,106 4,414,851 Ͳ 9,869,218 711,980 803,837 1,109,573 1,434,106 1,846,863 Ͳ Ͳ Ͳ Ͳ 1,647,416 Ͳ Ͳ Ͳ Ͳ Ͳ (26,073) (73,354) (66,487) (28,737) (105,729) $35,230,762 $24,443,998 $29,763,151 $27,842,784 $39,475,953 Note: *Startingwithfiscalyear2011,fundbalanceswerestatedinclassificationrequiredbyGASBStatementNo.54 Source:CityFinancialRecordsandReports Page 158 Table6 FiscalYear 2018 2019 2020 2021 2022 $1,045,531 $Ͳ $Ͳ $Ͳ $Ͳ Ͳ 311,940 210,154 283,305 299,683 758,946 1,402,473 2,134,415 2,159,059 Ͳ 4,377,576 238,965 432,662 1,064,752 4,582,213 294,594 470,847 1,189,336 4,813,576 445,474 327,832 1,156,827 Ͳ 453,814 372,270 1,260,501 Ͳ 509,763 324,149 1,402,368 1,956,201 Ͳ 4,504,416 888,212 3,033,620 134,146 454,872 74,699 Ͳ 60,552,115 1,988,219 Ͳ 3,910,722 805,987 3,280,541 156,142 738,260 1,362,099 55,747,287 16,546,219 2,656,884 Ͳ 3,455,394 475,484 2,421,309 Ͳ 892,018 1,299,118 86,240,624 18,030,053 3,209,868 Ͳ 5,953,763 750,000 3,103,501 Ͳ 987,419 1,387,206 98,074,000 29,258,434 3,113,269 1,938,782 8,190,265 750,000 3,733,077 Ͳ 1,228,220 1,418,793 129,774,800 26,378,589 $79,516,713 $92,786,879 $124,559,162 $147,253,140 $179,061,758 $553,663 $678,548 $497,974 $521,217 $1,027,794 Ͳ Ͳ Ͳ Ͳ 323,750 5,576,920 5,913,772 5,945,421 2,277,075 3,323,230 19,453,023 29,633,601 43,001,310 55,713,143 80,340,543 Ͳ Ͳ Ͳ 70 Ͳ Ͳ Ͳ Ͳ 62,500 164,112 35,863 249 Ͳ Ͳ Ͳ 21,876,083 43,953,339 40,471,387 38,019,761 26,425,693 2,442,864 10,164,456 9,978,487 5,643,082 6,586,516 1,963,850 2,555,378 Ͳ Ͳ 3,043,242 3,729,087 4,754,655 (22,755) (188,894) (501,057) (150,748) (374,937) $51,879,511 $92,710,449 $102,436,764 $105,815,187 $122,571,356 Page 159 CityofGoodyear ChangesinFundBalancesofGovernmentalFunds LastTenFiscalYears (modifiedaccrualbasisofaccounting) (Unaudited) FiscalYear Revenues Taxes Licensesandpermits Intergovernmental Chargesforservices Finesandforfeits Investmentincome Specialassessments Contributions Miscellaneous TotalRevenues Expenditures* Generalgovernment Publicsafety Highwaysandstreets Publicworks Cultureandrecreation Developmentservices Capitaloutlay DebtService: Principalretirement Interestanddebtcost Paymenttorefundedbondescrowagent TotalExpenditures ExcessofRevenuesover(under) Expenditures 2013 2014 2015 2016 2017 $58,970,605 6,793,070 18,723,318 6,322,025 809,334 439,982 5,845,306 4,024,175 567,839 102,495,654 $63,577,425 7,460,830 19,325,653 4,658,927 884,735 414,689 5,839,886 2,408,357 1,327,008 105,897,510 $66,203,440 6,558,607 21,749,386 4,576,618 860,313 361,146 5,762,295 2,976,642 243,473 109,291,920 $71,287,200 7,357,205 21,811,572 5,792,947 839,108 710,040 6,096,012 1,346,713 728,930 115,969,727 $74,924,078 9,302,729 25,780,719 9,227,037 925,314 560,547 6,009,405 1,638,229 516,160 128,884,218 17,376,427 26,764,289 4,674,325 2,093,312 4,884,349 5,232,999 18,252,039 16,895,276 28,310,822 5,585,966 2,045,578 4,975,947 5,823,318 18,496,444 18,081,622 29,505,746 5,494,087 2,268,109 5,265,454 6,933,854 11,326,103 17,968,635 32,881,648 5,680,917 2,255,101 5,712,191 7,933,367 15,988,901 19,191,902 36,905,961 5,748,952 2,598,519 12,090,866 7,187,389 17,628,611 10,226,228 10,987,906 Ͳ 100,491,874 9,441,923 9,765,514 Ͳ 101,340,788 9,291,703 9,323,202 Ͳ 97,489,880 9,772,183 9,046,458 Ͳ 107,239,401 14,581,544 12,968,581 Ͳ 128,902,325 2,003,780 4,556,722 11,802,040 8,730,326 (18,107) Notes: * Beginninginfiscalyear2016expenditurefunctionswereconsolidatedtoalignwiththebasicfinancialstatements Source:StatementofRevenues,ExpendituresandChangesinFundBalances Page 160 Table7 FiscalYear 2018 2019 2020 2021 2022 $82,602,447 10,636,668 26,773,324 10,418,539 1,044,317 1,196,857 5,968,798 6,358,002 2,485,672 147,484,624 $90,300,757 12,314,128 27,458,465 12,234,549 1,044,516 4,606,033 9,868,376 4,036,766 1,192,520 163,056,110 $116,390,115 18,061,371 39,616,094 17,351,117 869,101 4,351,915 5,509,308 6,247,217 1,504,393 209,900,631 $138,046,896 19,073,277 34,652,939 23,799,246 1,037,122 898,599 6,810,016 5,588,920 1,257,515 231,164,530 $154,824,840 16,654,379 58,325,325 24,108,155 1,138,437 (3,080,671) 6,357,266 3,454,890 1,842,263 263,624,884 20,825,896 39,779,006 5,517,174 2,897,716 11,315,720 7,159,767 30,366,883 20,801,270 43,459,463 7,563,123 2,827,608 14,108,472 7,641,804 17,066,876 22,828,171 45,641,389 7,399,662 4,044,509 13,042,653 8,916,314 40,565,230 28,189,094 72,064,162 7,548,526 3,708,625 14,500,770 10,500,186 84,788,927 30,533,336 59,500,593 8,103,897 3,316,324 19,566,132 13,320,560 83,697,834 19,642,573 15,708,001 4,622,056 157,834,792 21,763,951 12,599,646 Ͳ 147,832,213 19,465,657 10,818,794 Ͳ 172,722,379 25,673,172 10,941,518 Ͳ 257,914,980 21,852,781 10,386,995 Ͳ 250,278,452 (10,350,168) 15,223,897 37,178,252 (26,750,450) 13,346,432 continued Page 161 CityofGoodyear ChangesinFundBalancesofGovernmentalFunds LastTenFiscalYears (modifiedaccrualbasisofaccounting) (Unaudited) FiscalYear 2013 2014 2015 2016 2017 OtherFinancingSourcesand(Uses) Transferin Transferout Saleofassets* Debtissuance Debtpremium Refundingbonds Refundingbondspremium Paymenttorefundedbondescrowagent $4,726,150 $5,356,364 $4,588,019 $3,539,227 $12,768,632 (9,602,694) (10,494,616) (9,923,248) (9,091,060) (9,968,632)  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ 10,500,000  Ͳ 4,980,000  Ͳ 10,968,000  Ͳ  Ͳ (39,461)  Ͳ  Ͳ 10,685,000 14,755,000 7,015,000 18,535,000 118,130,941 672,545 1,114,908 452,099 2,047,350 14,546,606 (10,965,024) (15,138,166) (7,168,901) (20,106,713) (130,387,703) TotalOtherFinancingSources and(Uses) 6,015,977 (4,406,510) (96,492) (5,076,196) 16,057,844 NetChangeinFundBalances $8,019,757 $150,212 $11,705,548 $3,654,130 $16,039,737 DebtServiceasaPercentageof NoncapitalExpenditures 25.8% 22.3% 20.6% 18.4% Notes: * Beginninginfiscalyear2019salesofassetswasbrokenouttoalignwiththebasicfinancialstatements. Source:CityFinancialRecordsandReports Page 162 24.7% Table7 FiscalYear 2018 2019 2020 2021 2022 $13,901,429 $17,954,246 $28,400,983 $45,929,762 $62,317,732 (10,201,429) (14,254,246) (24,901,739) (39,029,209) (54,301,798)  Ͳ 346,124 291,817 213,803 413,605 25,015,000 33,873,000 529,285 39,530,000 24,073,000  Ͳ 958,083  Ͳ  Ͳ 2,715,816 51,537,627  Ͳ  Ͳ 25,520,000  Ͳ 722,171  Ͳ  Ͳ 5,859,505  Ͳ (49,056,702)  Ͳ  Ͳ (25,201,010)  Ͳ 31,918,096 38,877,207 4,320,346 52,822,851 35,218,355 $21,567,928 $54,101,104 $41,498,598 $26,072,401 $48,564,787 27.8% 26.3% 22.9% 22.9% 19.4% concluded Page 163 CityofGoodyear PropertyTaxRates DirectandOverlappingGovernments LastTenFiscalYears (Unaudited) OverlappingRates CityDirectRate CountyͲWideJurisdictions County County County Fiscal Year Debt Operating Service Rate Rate Total City Rate County Operating Rate Library District Rate FireDistrict Assistance Rate Flood Education District Equalization Rate Rate 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1.1115 1.1994 1.1836 1.1637 1.1598 1.1344 1.1084 1.0619 1.0330 1.0000 1.7750 1.9000 1.8700 1.8700 1.8623 1.7349 1.7350 1.7332 1.7335 1.2407 1.2807 1.3209 1.3609 1.4009 1.4009 1.4009 1.4009 1.4009 1.3459 0.0492 0.0438 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0110 0.0121 0.0113 0.0116 0.0112 0.0102 0.0107 0.0095 0.0090 0.0086 0.1780 0.1392 0.1392 0.1592 0.1792 0.1792 0.1792 0.1792 0.1792 0.1792 0.6635 0.7006 0.6864 0.7063 0.7025 0.6005 0.6266 0.6713 0.7005 0.7350 Source:MaricopaCountyAssessor'sOffice 0.4717 0.5123 0.5089 0.5054 0.5010 0.4875 0.4741 0.4566 0.4426 0.4263 continued Page 164 Table8 OverlappingRates SchoolDistricts CountyͲWideJurisdictions Special Central Health Fiscal Year Community Arizona College Project Rate Rate Care District Rate Total County Rate 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1.3778 1.5340 1.5187 1.4940 1.4651 1.4096 1.1708 1.1565 1.1250 1.1112 Ͳ Ͳ Ͳ Ͳ 0.3053 0.2941 0.2941 0.1871 0.1838 0.1803 3.4284 7.4945 3.6621 8.2090 3.6946 10.0022 3.7267 9.4960 4.0583 9.8771 3.9771 8.9315 3.7254 8.4894 3.5854 7.8709 3.5361 7.6157 3.4471 7.5438 0.1000 0.1400 0.1400 0.1400 0.1400 0.1400 0.1400 0.1400 0.1400 0.1400 AguaFria/ Buckeye/ Tolleson/ Avondale Litchfield Liberty Littleton Rate Rate Rate Rate 3.8863 3.9772 3.7780 3.8352 3.8142 3.4763 3.8499 3.6716 3.5229 3.4950 6.9607 7.1092 8.0102 7.6149 7.0163 7.0616 6.8080 6.6742 8.8758 9.3434 9.2259 11.4641 10.4333 9.9303 9.5342 9.8185 10.0261 10.6716 10.2551 10.1994 Mobile Rate 6.9350 7.7572 7.8876 7.8876 8.1213 7.8876 7.8876 7.8876 7.8876 7.5960 continued Page 165 CityofGoodyear PropertyTaxRates DirectandOverlappingGovernments LastTenFiscalYears (Unaudited) OverlappingRates OtherSpecialTaxingDistricts West Estrella Maricopa Centerra Cortina Cottonflower Mtn.Ranch Education Central Roosevelt Community Community Community Community Fiscal Year Center District Rate Arizona GRD Rate Irrigation District Rate Facilities District Rate Facilities District Rate Facilities District Rate Facilities District Rate 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0.0500 0.0592 0.0810 0.0698 0.0840 0.1780 0.1494 0.1634 0.1655 1.7694 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 17.1000 17.1000 27.1000 27.1000 27.1000 27.1000 29.8100 29.8100 29.8100 29.8100 3.2961 3.3559 3.0361 3.1327 2.7404 2.6706 2.5823 2.4421 2.1576 1.8888 2.8500 2.8500 2.6034 2.5999 2.3824 1.8877 1.8664 1.8994 1.9843 1.5848 3.8528 3.9890 3.2768 3.3377 3.0482 2.5714 2.5413 2.5400 2.5443 1.9407 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 continued Page 166 Table8 OverlappingRates OtherSpecialTaxingDistricts Goodyear Palm King Wildflower Wildflower Community Community Goodyear Valley Ranch Community Community Facilities Facilities Community Community Facilities Facilities Fiscal Year General District#1 Rate Utilities District#1 Rate Facilities District#3 Rate Facilities District Rate General District#1 Rate General District#2 Rate 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1.0000 1.0000 0.7334 0.7075 0.8466 0.9600 0.8896 0.8903 0.9040 0.7679 1.0000 1.0000 1.0162 1.1497 1.1500 1.1500 1.1480 0.9390 0.9039 0.8559 1.8035 1.7844 1.2592 1.1097 0.9308 0.8682 0.8085 0.6107 0.5450 0.4647 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 3.3150 3.4365 2.7761 2.9103 2.7230 2.8882 2.8489 2.6309 2.5582 2.3306 3.3467 3.8922 3.0227 3.1070 2.9330 3.0463 2.7801 2.7362 2.7278 2.3779 concluded Page 167 Page 168 Table9 CityofGoodyear PrincipalPropertyTaxPayers CurrentFiscalYearandNineYearsPrior (Unaudited) FiscalYear 2022 2013 Taxpayer Taxable Assessed Value Percentageof TotalTaxable Assessed Rank Value Taxable Assessed Value Rank Percentageof TotalTaxable Assessed Value ArizonaPublicServiceCompany $20,690,805 1 3.42% $35,938,715 1 3.07% MicrosoftCorporation $ Ͳ 0.00% 23,843,088 2 2.04% EstrellaNorthLLc $ Ͳ 0.00% 21,280,466 3 1.82% VHSofSouthPhoenix,Inc. $8,559,046 2 1.41% 19,563,586 4 1.67% ElwoodLogisticsCenterLLC $ Ͳ 0.00% 12,599,388 5 1.08% MacysLogisticsLLC $5,211,997 5 0.86% 11,560,728 6 0.99% PrologisCommercePark1QOZBLLC $ Ͳ 0.00% 11,465,213 7 0.98% AmazonComServicesLLC $ Ͳ 0.00% 10,566,185 8 0.90% SouthwestGasCorporation(T&D) $4,331,101 10 0.72% 9,910,247 9 0.85% SVFGoodyearLogisticsCenterLLC $ Ͳ 0.00% 9,050,668 10 0.77% NNPIIIEMR3LLC $4,942,368 3 0.82% DHGoodyearLLC $5,232,509 4 0.86% CardinalCapitalCo $5,039,173 6 0.83% FirstAmericanTitleInsCoTR7854 $4,032,152 7 0.67% TheMarketatEstrellaFallsLLC $4,653,392 8 0.77% BTGoodyearLLC $4,265,960 9 0.70% Total $66,958,503 11.06% Source:MaricopaCountyTreasurer Page 169 $165,778,284 14.16% CityofGoodyear AssessedValueandEstimatedActualValueofTaxableProperty LastTenFiscalYears (Unaudited) Total Assessed Value Residential Property Fiscal Year Ended June30 Total Assessed Value Commercial Property Agricultural/ VacantLand Other Less: TaxͲExempt Property Net Assessed Value 2013 Primary Secondary 338,747,451 220,657,668 163,082,414 240,243 120,560,037 602,167,739 339,165,652 228,812,312 167,084,029 244,254 129,664,064 605,642,183 2014 Primary Secondary 340,280,668 205,111,305 161,905,429 273,421 122,898,455 584,672,368 342,294,870 211,390,271 165,979,539 275,521 129,681,549 590,258,652 2015 Primary Secondary 393,827,703 192,119,198 158,537,781 1,158,177 115,918,333 629,724,526 416,834,896 196,638,563 169,043,455 1,167,249 122,400,093 661,284,070 2016 LimitedPropertyValue 427,218,918 223,077,763 149,242,505 1,127,677 129,713,965 670,952,898 2017 LimitedPropertyValue 457,689,029 227,887,800 146,856,414 6,601,784 128,500,705 710,534,322 2018 LimitedPropertyValue 499,088,340 234,739,156 159,566,464 6,975,609 137,331,297 763,038,272 2019 LimitedPropertyValue 538,457,161 256,367,234 152,787,152 7,383,730 132,980,202 822,015,075 2020 LimitedPropertyValue 590,823,853 299,172,489 163,622,803 7,807,328 139,439,679 921,986,794 2021 LimitedPropertyValue 650,949,118 344,929,979 177,112,944 8,038,693 150,205,990 1,030,824,744 2022 LimitedPropertyValue 715,248,375 390,866,605 182,107,720 28,564,695 155,524,146 1,161,263,249 Notes:Beginninginfiscalyear2016,theNetAssessedLimitedPropertyValueisstatutorilyrequiredtobeusedforthecalculationof primaryandsecondarypropertytaxes.Priortofiscalyear2016,theprimarylevywascalculatedusingthelimitedassessedvaluation andthesecondarylevywascalculatedusingthefullcashassessedvaluation.Detaildatapriorto2009for"primary"isnotavailable. Source:MaricopaCountyAssessor'sOffice Page 170 Table10 TotalDirect TaxRate Estimated ActualTaxable Value Assessed Valueas Percentageof ActualValue 1.1115 5,513,086,956 0.6635 5,583,052,641 10.9% 10.8% 1.1994 5,485,036,603 0.7006 5,562,951,789 10.7% 10.6% 1.1836 6,012,798,998 0.6864 6,332,435,414 10.5% 10.4% 1.8700 6,479,932,484 10.4% 1.8623 6,951,354,974 10.2% 1.7349 7,490,466,600 10.2% 1.7350 7,985,016,888 10.3% 1.7332 8,822,931,900 10.4% 1.7335 9,758,686,383 10.6% 1.7350 11,002,212,492 10.6% Page 171 Table11 CityofGoodyear PropertyTaxLeviesandCollections LastTenFiscalYears (Unaudited) Fiscal Year TaxesLevied Ended forthe June30 FiscalYear(a) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Collectedwithinthe FiscalYearoftheLevy Amount 10,714,099 10,523,654 11,185,149 10,949,615 11,992,446 11,808,563 12,599,829 12,392,149 13,157,209 13,024,932 13,232,702 13,071,185 14,263,392 14,097,133 15,981,505 15,760,028 17,871,100 17,528,715 20,150,452 19,740,256 Collectionin Percentage Subsequent ofLevy Years 98.22% 97.89% 98.47% 98.35% 98.99% 98.78% 98.83% 98.61% 98.08% 97.96% TotalCollectionstoDate Amount 46,234 10,569,888 47,683 10,997,298 85,557 11,894,120 39,922 12,432,071 (8,521) 13,016,411 77,358 13,148,543 (12,356) 14,084,777 164,371 15,924,399 121,086 17,649,801 Ͳ 19,740,256 Percentage ofLevy 98.65% 98.32% 99.18% 98.67% 98.93% 99.36% 98.75% 99.64% 98.76% 97.96% (a)TaxlevyisreportedbytheTreasurerasofAugustofeachfiscalyear.Amountdoesnot includeadjustmentsmadetolevyamountsaftertheAugustreport. Source:MaricopaCountyTreasurer'sOffice Page 172 Table12 CityofGoodyear UtilityStatisticalData TenLargestWaterUsers CurrentFiscalYearandNineFiscalYearsAgo (Unaudited)  FiscalYear Entity CityofGoodyear MicrosoftCorporation LasBrisas CanyonTrailsHOA SarivalPaseoJointCommunity CanyonTrailsUnitHOA4A AvondaleElementary ShepardInvestment ProͲLowJointVenture EstrellaJointCommittee CanyonTrails4ͲSouth AguaFriaUnionHighSchoolDist. CottonflowerGoodyearCommunity CanyonTrailsUnitHOA3A CancerTreatmentCenterofAmerica JBParkShadows CanyonTrailsUnit4 CanyonTrails3 TypeofUser MultiPurpose Commercial Homeowner'sAssociation Homeowner'sAssociation Homeowner'sAssociation Homeowner'sAssociation School Apartments Construction Homeowner'sAssociation Homeowner'sAssociation School Homeowner'sAssociation Homeowner'sAssociation MultiPurpose Apartments Homeowner'sAssociation Homeowner'sAssociation Total TotalasapercentoftotalWaterSystemOperatingRevenue Source:Citycustomerserviceandbillingrecords Page 173 2013 Fees& Charges 2022 Fees& Rank Rank Charges 1 $1,180,310 2 $563,795 6 160,246 3 $517,872 4 $392,732 10 111,695 5 $354,025 6 $315,455 7 157,016 7 $258,023 8 $254,272 9 $250,752 10 $231,679 2 249,963 8 142,771 5 192,421 1 292,061 9 112,051 3 4 207,683 206,507 $1,832,414 $4,318,915 15.47% 14.50% Page 174 Table13 CityofGoodyear UtilityStatisticalData TenLargestWastewaterUsers CurrentFiscalYearandNineFiscalYearsago (Unaudited) FiscalYear Entity ArizonaStatePrison/Perryville MicrosoftCorporation CityofGoodyear ShepardInvestGroup CancerTreatmentCenterofAmerica JBParkShadows Huhtamaki SchoellerArcaSystemsNC AceroEstrellaParkwayLLC TaylorMorrisonHomes ChristopherToddEstrella GraysonPlaceApartments 3MinuteCarWash FairfieldDevelopment FairfieldCenterraLLC PooreBrothers,Inc. AirportTrainingCenter AvondaleElementary AllianceResidential PemInvestments SaintGobainGlassCorp FairfieldGoodyear,LLC TypeofUser Prison Commercial MultiPurpose Apartments MultiPurpose Apartments Irrigation Industrial Irrigation MultiPurpose Irrigation Apartments CarWash Apartments RealEstate FoodManufacturer Airport Education RealEstate RealEstate Manufacturer Apartments Total TotalasapercentoftotalWastewaterSystemOperatingRevenue Source:Citycustomerserviceandbillingrecords Page 175 2013 Fees& Rank Charges 1 $469,723 3 5 78,240 4 7 9 78,888 64,458 44,899 10 8 2 6 42,792 46,475 94,900 74,012 Rank 1 2 3 4 5 6 7 8 9 10 2022 Fees& Charges $1,349,531 285,587 100,184 94,361 86,177 82,110 80,544 74,677 69,926 69,433 $994,387 $2,292,530 8.76% 11.30% CityofGoodyear ScheduleofExistingandAdopted MonthlyWater&WastewaterServiceCharges(2013Ͳ2022) (Unaudited) DescriptionofWaterSystemServices BaseCharge (MeterSize) 3/4Inch 1Inch 11/2Inch 2Inches 3Inches 4Inches 6Inches 12Inch MonthlyVolumeChargeͲResidential 0Ͳ6,000gallons(perthousand) 6,001Ͳ12,000(perthousand) 12,001Ͳ30,000(perthousand) 30,001+gallons(perthousand) MonthlyVolumeChargeͲCommercial 0Ͳ40,000gallons(perthousand) 40,001Ͳ100,000gallons(perthousand) 100,001+gallons(perthousand) ExistingFees Adopted 2013 Adopted 2015 Adopted 2016 Adopted 2017 Adopted 2018 Adopted 2019 Adopted 2020 Adopted 2021 Adopted 2022 $12.70 17.56 28.39 45.96 77.67 126.65 240.36 $10.23 14.14 22.86 37.01 70.67 115.24 218.71 $11.24 15.54 25.12 40.67 77.67 126.65 240.36 $12.70 17.56 28.39 45.96 77.67 126.65 240.36 $14.73 20.37 32.93 53.31 77.67 126.65 240.36 $16.35 22.61 36.55 59.17 77.67 126.65 240.36 $17.49 24.19 39.11 63.31 77.67 126.65 240.36 $18.54 25.64 41.46 67.11 77.67 126.65 240.36 $18.54 25.64 41.46 67.11 77.67 126.65 240.36 $19.10 26.41 42.70 69.12 80.00 130.45 247.57 247.57 $1.47 (2) 2.93 (3) 4.40 (4) 7.06 (5) $1.18 2.36 3.54 5.69 $1.30 2.59 3.89 6.25 $1.47 2.93 4.40 7.06 $1.71 3.40 5.10 8.19 $1.90 3.77 5.66 9.09 $2.03 4.03 6.06 9.73 $2.15 4.27 6.42 10.31 $2.15 4.27 6.42 10.31 $2.21 4.40 6.61 10.62 $3.73 5.97 7.75 $3.00 4.80 6.24 $3.30 5.28 6.86 $3.73 5.97 7.75 $4.29 6.87 8.91 $4.72 7.56 9.80 $4.91 7.86 10.19 $5.06 8.10 10.50 $5.06 8.10 10.50 $5.21 8.34 10.82 Note:Ratesshownareforcustomerswithincitylimits.Theratesforcustomersoutsideofthecitylimitsare25%greater thanthecustomerswithincitylimits.RateincreasesareadoptedatthedirectionofCityCouncil. (1)RateswereupdatedduringJanuary2017 (2)Monthlyvolumechangeforfeesis0Ͳ6,000gallons(perthousand). (3)Monthlyvolumechangeforfeesis6,001Ͳ12,000gallons(perthousand). (4)Monthlyvolumechangeforfeesis12,001Ͳ30,000gallons(perthousand). (5)Monthlyvolumechangeforfeesis30,001Ͳandovergallons(perthousand). ScheduleofWaterSystemRateIncreases(2013Ͳ2022) Date FiscalYear2013 FiscalYear2014 FiscalYear2015 FiscalYear2016 FiscalYear2017 FiscalYear2018 FiscalYear2019 FiscalYear2020 FiscalYear2021 FiscalYear2022 Rate Increase 0.0% N/A 10.0% 13.0% 16.0% 11.0% 7.0% 6.0% 0.0% 3.0% Source:CityFinancialRecords,ReportsandWater&WastewaterRateStudy. Thetableabovereflectsonlycertainfeesandchargesofthe City'swatersystemandisnotacomprehensivestatementofallsuchfees. Page 176 Table14 DescriptionofWastewaterSystemService ExistingFees ResidentialWastewaterService BaseCharge (Seebelow) VolumeCharge(per1,000gallons) $5.78 Adopted 2013 Adopted 2016 Adopted 2017 Adopted 2018 Adopted 2019 Adopted 2020 Adopted 2021 Adopted 2022 $5.78 $5.95 $6.13 $6.25 $6.38 $6.51 $6.51 $6.71 GeneralCommercialWastewaterService BaseCharge (Seebelow) VolumeCharge(per1,000gallons) $5.78 $5.78 $5.95 $6.13 $6.25 $6.38 $6.51 $6.51 $6.71 BaseCharge (MeterSize) 3/4Inch 1Inch 11/2Inch 2Inches 3Inches 4Inches 6Inches $21.12 32.41 39.94 77.58 115.22 152.86 378.70 $21.75 33.38 41.14 79.91 115.22 152.86 378.70 $22.40 34.38 42.37 82.31 115.22 152.86 378.70 $22.85 35.07 43.22 83.96 115.22 152.86 378.70 $23.31 35.77 44.08 85.64 115.22 152.86 378.70 $23.78 36.49 44.96 87.35 115.22 152.86 378.70 $23.78 36.49 44.96 87.35 115.22 152.86 378.70 $24.49 37.58 46.31 89.97 118.68 157.45 390.06 $21.12 32.41 39.94 77.58 115.22 152.86 378.70 ScheduleofWastewaterSystemRateIncreases(2013Ͳ2022) Date FiscalYear2013 FiscalYear2014 FiscalYear2015 FiscalYear2016 FiscalYear2017 FiscalYear2018 FiscalYear2019 FiscalYear2020 FiscalYear2021 FiscalYear2022 Rate Increase 15.2% N/A N/A 3.0% 3.0% 2.0% 2.0% 2.0% 0.0% 3.0% Page 177 CityofGoodyear RatiosofOutstandingDebtbyType LastTenFiscalYears (Unaudited) GovernmentalActivities Public Fiscal Improvement McDowell Corporation Road Year Ended June30 General Obligation Bonds Revenue Bonds Contract Payable Municipal Corridor Facilities Improvement RevenueBond District 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 29,000,636 26,555,569 24,616,149 21,638,323 18,564,501 21,987,761 43,983,309 64,022,774 61,007,711 94,324,553 113,133,855  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ 24,735,000 23,855,000 1,755,628 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 2,940,000 12,431,467 11,047,495 10,037,745 8,859,189 127,152,711 121,145,790 100,376,526 102,722,600 62,248,918 54,461,237 43,675,000 42,390,000 42,383,378 40,881,328 39,304,278 37,647,228 34,870,000 28,910,000 26,610,000 23,315,000 21,080,000 Source:USCensusBureau,AppliedGeographicSolutions/TIGERGeography,andCity FinancialRecords Page 178 Community Facilities District Bonds 113,555,000 109,823,000 107,194,657 108,520,857 106,289,435 103,870,391 94,683,268 87,776,000 86,300,170 73,456,000 67,187,000 Table15 BusinessͲTypeActivities Public Improvement Water Corporation Infrastructure General Obligation Bonds Municipal Facilities RevenueBond Revenue Bonds Finance Authority Loan 89,394,364 85,384,431 82,113,973 77,607,211 73,018,360 66,702,679 58,226,165 48,957,226 48,509,399 40,480,447 37,421,145 102,180,000 102,180,000 104,096,689 103,970,274 104,164,132  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ 31,985,000 31,390,000 30,596,520 30,114,933 42,413,304 41,924,131 40,489,966 37,175,000 153,719,816 139,065,000 137,125,000 11,908,603 10,998,942 10,064,007 9,096,237 3,854,322 3,591,773 3,323,972 3,050,815 2,772,195 2,488,002 2,198,125 Water Rights  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ Page 179 Total 426,394,231 421,153,409 412,112,868 401,866,908 396,467,521 402,876,674 396,722,470 370,268,341 481,641,891 460,112,920 456,461,362 Percentage ofPersonal Income Per Capita 20.10% 6,430 22.13% 6,264 20.81% 5,773 21.38% 5,443 19.80% 5,304 21.52% 5,180 16.23% 4,750 14.16% 4,374 16.75% 5,420 14.90% 4,822 12.84% 4,490 Table16 CityofGoodyear RatiosofGeneralBondedDebtOutstanding LastTenFiscalYears (Unaudited) Percentage Fiscal Year Ended June30 General Obligation Bonds Less:Amounts Available inDebt ServiceFund Total 2013 2014 2015 2016 111,940,000 106,730,122 99,245,534 91,582,861 841,716 98,876 Ͳ 13,202 111,098,284 106,631,246 99,245,534 91,569,659 18.34% 18.07% 15.01% 13.65% 1,652 1,494 1,344 1,225 2017 2018 2019 2020 2021 2022 88,690,440 102,209,474 112,980,000 109,517,110 134,805,000 150,555,000 703,557 778,715 229,724 229,320 786,066 1,030,090 87,986,883 101,430,759 112,750,276 109,287,790 134,018,934 149,524,910 12.38% 13.29% 13.72% 11.85% 13.00% 12.88% 1,131 1,215 1,332 1,230 1,406 1,471 Source:CityFinancialRecordsandReports Page 180 Estimated ActualTaxable Valueof Property Per Capita Table17 CityofGoodyear DirectandOverlappingGovernmentalActivitiesDebt AsofJune30,2022 (Unaudited) OverlappingJurisdiction NetAssessed Limited PropertyValue  Debt Outstanding Estimated Percentage Applicable(a) NetDebt Amount MaricopaCounty MaricopaCountyCommunityCollegeDistrict MaricopaSpecialHealthcareDistrict WesternMaricopaEducationCenter LibertyElementarySchoolDistrictNo.25 AvondaleElementarySchoolDistrictNo.44 LittletonElementarySchoolDistrictNo.65 LitchfieldElementarySchoolDistrictNo.79 MobileElementarySchoolDistrictNo.86 BuckeyeUnionHighSchoolDistrictNo.201 TollesonUnionHighSchoolDistrictNo.214 AguaFriaUnionHighSchoolDistrictNo.216 WildflowerRanchCommunityFacilitiesDistrictNo.1 WildflowerRanchCommunityFacilitiesDistrictNo.2 CommunityFacilitiesGeneralDistrictNo.1 CommunityFacilitiesUtilityDistrictNo.1 EstrellaMountainRanchCommunityFacilitiesDistrict CottonflowerCommunityFacilitiesDistrict CenterraCommunityFacilitiesDistrict CortinaCommunityFacilitiesDistrict PalmValleyCommunityFacilitiesDistrict Subtotalofoverlappingdebt: $48,724,126,672 $Ͳ 48,724,126,672 184,715,000 48,837,616,505 640,695,000 18,045,628,311 144,220,000 340,654,928 44,740,000 531,806,142 39,765,000 310,115,890 49,445,000 1,101,917,815 43,385,000 8,912,382 Ͳ 885,537,591 68,495,000 1,471,718,800 217,315,000 1,633,723,788 123,255,000 5,766,663 80,000 5,818,380 360,000 140,714,524 5,190,000 448,150,116 25,656,500 134,052,722 7,795,000 10,952,317 1,180,000 17,097,355 2,259,000 12,243,498 1,365,000 134,095,526 4,085,000 $171,524,776,597 $1,604,000,500 2.40 % $Ͳ 2.40 4,437,867 2.40 15,357,237 6.49 9,355,558 59.78 26,744,974 84.29 33,519,600 0.02 9,356 45.80 19,869,216 45.40 Ͳ 22.37 15,319,027 0.00 8,928 58.04 71,541,179 100.00 80,000 100.00 360,000 100.00 5,190,000 100.00 25,656,500 100.00 7,795,000 100.00 1,180,000 100.00 2,259,000 100.00 1,365,000 100.00 4,085,000 $244,133,441 DirectDebt: CityofGoodyear $1,170,620,728 100.00 % $293,686,068 $293,686,068 TotalDirectandOverlappingDebt TotalGovernmentalandBusinessͲTypeGeneralObligationBonds $537,819,509 $150,555,000 100.00 % $150,555,000 (a)ProportionapplicabletotheCityofGoodyear,Arizonaiscomputedontheratioofnetassessedlimitedpropertyvalue for2020/21 Sources:MaricopaCountyAssessor'sOfficeandOfficialStatements Note:Overlappinggovernmentsarethosethatcoincide,atleastinpart,withthegeographic boundariesofthecity.Thisscheduleestimatestheportionoftheoutstandingdebtofthose overlappinggovernmentsthatisbornebytheresidentsandbusinessesoftheCityofGoodyear. Thisprocessrecognizesthatwhenconsideringthegovernment'sabilitytoissueandrepay longͲtermdebt,theentiredebtburdenbornebytheresidentsandbusinessesshouldbetaken intoaccount.However,thisdoesnotimplythateverytaxpayerisaresident,andtherefore responsibleforrepayingthedebt,ofeachoverlappinggovernment Thepercentageofoverlappingdebtapplicableisestimatedusingtaxableassessedpropertyvalues. Applicablepercentageswereestimatedbydeterminingtheportionofthecounty'staxableassessed valuethatiswithinthegovernment'sboundariesanddividingitbythecounty'stotaltaxable assessedvalue. Page 181 CityofGoodyear LegalDebtMarginInformation AsofJune30,2022 (Unaudited) FiscalYear 2013 2014 2015 2016 NetFullCashAssessedValue $605,642,183 $590,258,652 $659,588,897 $670,952,898 20%Limitation DebtLimitEqualto20%ofAssessed Valuation 121,128,437 118,051,730 131,917,779 134,190,580 TotalDebtApplicableto20%Limit 111,690,000 104,775,000 97,570,000 90,065,000 Legal20%DebtMargin(Available BorrowingCapacity) $9,438,437 $13,276,730 $34,347,779 $44,125,580 Totalnetdebtapplicabletothelimit asapercentageofdebtlimit 92.21% 88.75% 73.96% 67.12% 6%Limitation DebtLimitEqualto6%ofAssessed Valuation $36,338,531 $35,415,519 $39,575,334 $40,257,174 TotalDebtApplicableto6%Limit 250,000 250,000 220,000 205,000 Legal6%DebtMargin(Available BorrowingCapacity) $36,088,531 $35,165,519 $39,355,334 $40,052,174 0.69% 0.71% 0.56% 0.51% Totalnetdebtapplicabletothelimit asapercentageofdebtlimit Source:MaricopaCountyTreasurer'sOfficeandCityfinancialrecordsandreports Page 182 Table18 FiscalYear 2017 2018 2019 2020 2021 2022 $871,205,504 $964,201,508 $1,043,418,163 $1,183,659,155 $1,360,568,112 $1,586,384,072 174,241,101 192,840,302 208,683,633 236,731,831 272,113,622 317,276,814 106,130,000 97,065,000 112,980,000 102,605,000 95,275,000 114,070,000 $68,111,101 $95,775,302 $95,703,633 $134,126,831 $176,838,622 $203,206,814 60.91% 50.33% 54.14% 43.34% 35.01% 35.95% $52,272,330 $57,852,090 $62,605,090 $71,019,549 $81,634,087 $95,183,044 190,000 Ͳ Ͳ Ͳ 39,530,000 36,485,000 $52,082,330 $57,852,090 $62,605,090 $71,019,549 $42,104,087 $58,698,044 0.36% 0.00% 0.00% 0.00% 48.42% 38.33% Page 183 Table19 CityofGoodyear PledgedͲRevenueCoverage AsofJune30,2022 (Unaudited) PublicImprovementCorporationMunicipalFacilitiesRevenueBonds Fiscal Year Ended Operating Pledged June30 Revenue Revenue Principal Interest 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 76,004,072 81,109,035 82,672,164 87,880,128 95,623,345 107,069,770 116,486,271 152,851,661 167,084,631 191,216,325 57,969,777 62,768,755 59,861,110 67,903,484 68,619,826 69,446,051 90,707,954 116,812,121 139,901,726 158,008,523 590,000 85,000 230,000 235,000 3,220,000 3,500,000 5,840,000 6,110,000 6,920,000 7,787,680 5,505,685 5,702,661 5,458,563 5,451,663 3,674,649 4,710,941 4,563,216 4,299,271 3,493,813 2,648,118 DebtService Coverage 9.51 10.85 10.52 11.94 9.95 8.46 8.72 11.22 13.43 15.14 Water&SewerBonds&Loans Fiscal Year Less: Net Ended Operating Operating Operating June30 Revenue Expenses Revenue Principal Interest 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 23,133,152 24,989,997 24,748,802 27,964,881 31,380,884 35,230,057 42,658,585 60,392,907 62,983,880 53,394,756 10,837,296 12,684,374 13,405,653 15,205,094 18,471,783 13,551,129 19,584,574 26,552,787 32,793,218 32,972,216 12,295,856 12,305,623 11,343,149 12,759,787 12,909,101 21,678,928 23,074,011 33,840,120 30,190,662 20,422,540 1,504,661 1,439,935 1,467,770 1,496,834 1,682,550 1,742,801 1,613,157 2,283,620 2,439,193 2,229,877 5,819,924 2,212,948 2,207,414 2,159,000 2,268,124 2,292,417 2,014,361 1,199,376 5,071,602 5,369,470 DebtService Source:CityFinancialRecordsandReports Page 184 Coverage 1.68 3.37 3.09 3.49 3.27 5.37 6.36 9.72 4.02 2.69 Table20 CityofGoodyear DemographicandEconomicStatistics LastTenFiscalYears (Unaudited) Personal PerCapita Education Fiscal Year Population Income (inthousands) Personal Income Median Age 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 71,381 73,832 74,743 77,776 78,189 83,512 84,659 88,870 95,294 101,662 $1,980,537 $1,879,673 $2,001,907 $1,871,990 $2,157,938 $2,443,812 $2,615,370 $2,875,389 $3,083,237 $3,554,917 $27,746 $25,459 $26,784 $24,069 $27,599 $29,263 $30,893 $32,355 $32,355 $34,968 38.4 36.5 35.6 36.7 36.7 37.1 37.1 38.2 38.7 37.8 LevelinYears ofSchooling Unemployment Rate 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 8.3% 7.2% 5.7% 5.5% 4.4% 4.2% 4.8% 9.4% 6.9% 3.6% Source:BureauofLaborStatisticsandCityFinancialRecords Page 185 Table21 CityofGoodyear PrincipalEmployers CurrentFiscalYearandNineFiscalYearsPrior (Unaudited) FiscalYear FiscalYear 2013 2022 Percentage ofTotalCity Employees Rank Employment* Percentage ofTotalCity Employees Rank Employment* 500 1.49% 4,165 1 9.37% 0.00% 1,852 2 4.17% 1.64% 1,550 3 3.49% Chewy.com 0.00% 1,547 4 3.48% (AbrazoHealthcare)WestValleyHospital 0.00% 1,003 5 2.26% MajorCorporation Amazon.com 7 UPSͲRegionalOpsCenter Macy'sInc 550 5 CancerTreatmentCenter'sofAmerica 600 4 1.79% 768 6 1.73% SubzeroFreezerCo 400 8 1.19% 693 7 1.56% CavcoIndustries 230 10 0.69% 385 8 0.87% McLaneSunwest 360 9 1.07% 375 9 0.84% 0.00% 358 10 0.81% AerSale LockheedMartin 1,000 1 2.98% ArizonaStatePrison/Perryville 825 2 2.46% CityofGoodyear 511 6 1.52% WalmartSupercenter 0.00% WestvalleyHospital 600 Total 5,576 3 1.79% 16.62% 12,696 Source:CityRecords(EmploymentnumbersareselfͲreported;doesnotincludegrocery/retailstores) 2022laborforce=44,457;2013laborforce=33,542 *Companydidnotrespond,previousyeardataused Page 186 28.56% Table22 CityofGoodyear FullͲtimeEquivalentCityGovernmentEmployeesbyFunction LastTenFiscalYears (Unaudited) FiscalYear 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 GeneralGovernment FinancialServices InformationServices Police Officers Civilians PlanningandDevelopment Fire FirefightersandOfficers Civilians HumanResources CommunityServices EconomicDevelopment MunicipalServices PublicWorks Water Wastewater Sanitation Total 55 29 14 55 27 15 69 28 18 55 29 18 62 31 18 50 31 19 83 31 23 83 32 24 83 32 24 109 34 34 94 30 25 91 29 23 93 30 21 96 35 50 103 38 50 108 42 49 111 43 46 114 49 50 114 49 52 136 53 65 90 7 10 0 4 13 73 23 17 5 91 8 10 0 4 10 75 24 20 5 90 12 10 0 5 13 87 26 19 6 92 10 10 0 6 13 63 27 19 8 92 10 11 0 6 13 63 27 17 7 92 17 10 0 6 14 81 28 18 7 106 19 11 0 6 15 93 29 19 9 106 20 14 0 8 16 95 33 25 10 106 20 14 0 8 16 111 35 28 14 126 21 16 0 11 20 138 32 31 11 489 487 527 531 548 572 644 680 706 837 Source:CityFinancialRecordsandReports Page 187 CityofGoodyear OperatingIndicatorsbyFunction LastTenFiscalYears (Unaudited) Function 2013 2014 2015 2016 GeneralGovernment CityClerk'sOffice #ofrecordsrequests 470 504 598 629 CityProsecutor'sOffice Chargesfiled/chargesadjudicated(resolved) 2,514 3,170 3,623 3,608 CityManager'sOffice %ofsurveyrespondentsrating"YourNeighborhoodas aPlacetoLive"asgoodtoexcellent 94% 95% 95% 93% DigitalCommunications Newsreleases/mediaupdates 59 76 NA 88 GrowthofDigitalassets(Facebook,Twitter,Instagram,&Linkedincombined 112 114 136 144 Totalnewsletterpagessenttocitizens Numberofvisitstowebsite 804,542 491,540 633,643 543,565 Numberofwebpagesviewed 2,185,489 1,850,471 1,855,914 1,472,765 Numberofgraphics/photographyprojectscompleted 254 275 135 103 Police #oftotalarrests #ofmovingviolationscitations 2,532 10,259 2,612 10,586 2,846 5,919 2,661 3,479 Fire #ofemergencyresponses #offiresextinguished #ofinspections 5,604 243 969 8,298 242 752 6,972 205 1,539 6,002 165 1,253 6,298 1,238 184,638 6,403 1,091 191,189 6,254 1,009 196,863 5,914 1,442 201,704 <1 3,529 <1 3,580 <1 2,868 NA 5,610 1 1 1 1 1 0.96 1 1 178 5.01% 180 4.85% 144 5.05% 362 5.06% FinancialServices #accountspayablechecksissued #purchaseorders #watermetersreadannually PlanningandDevelopment CustomerwaitͲtime(inminutes)atOneStopShop Totalnumberofpermitsissued ProvideapplicantwithpreͲapplicationmeetingwithin30days ofsubmittingrequest% %ofinspectionsperformedwithin24hoursofrequest HumanResources #ofnewhires(FT&PT)(1) HRbudgetedoperatingcostasa%ofCitybudgetedpayroll ParksandRecreation #attendingPark&RecreationfacilitiesandLibrariesannually(2) #ofsquarefeetofmediansandrightsofwaymaintained EconomicVitality SalesTaxgrowth(%annualchange) BedTaxgrowth(%annualchange) 69,596 74,527 74,527 188,000 23,151,438 23,151,438 23,151,438 23,151,438 11.29% 1.41% Page 188 8.76% Ͳ4.12% 3.85% 25.71% 8.86% 2.75% Table23 2018 2017 2019 2020 2021 2022 770 904 767 898 1,106 1,008 4,261 4,031 3,656 3,032 3,959 3,539 93% 91% 95% 95% 93% 93% 126 128 302,777 1,500,539 157 132 9,650 232 588,580 1,271,883 318 NA 14,380 192 480,518 1,407,259 143 132 22,307 206 533,395 1,450,461 485 114 28,466 194 685,787 1,615,332 177 59 31,152 204 877,105 1,984,408 494 3,296 4,382 2,808 2,281 1,585 2,327 1,478 2,465 2,456 2,844 4,462 4,561 7,498 214 2,050 9,115 252 853 9,583 204 909 9,671 182 2,024 9,681 210 4,183 10,406 193 3,235 5,772 1,512 208,083 5,254 1,166 217,700 4,941 1,309 226,869 5,205 1,407 233,432 4,146 1,379 256,488 4,372 1,480 271,179 NA 5,732 NA 5,228 NA 5,137 NA 1,490 NA 60 <1 1,235 1 1 1 1 1 1 1 1 1 1 NA 100% 204 6.00% 220 3.12% 234 2.23% 143 4.44% 258 4.45% 320 4.83% 249,000 275,000 299,000 283,093 266,262 1,236,522 23,151,438 23,151,438 23,151,438 23,250,000 23,295,000 23,675,000 4.04% Ͳ3.80% 11.66% 14.37% 13.50% 9.60% 37.90% Ͳ6.60% 21.00% 29.20% Page 189 13.30% 45.30% CityofGoodyear OperatingIndicatorsbyFunction LastTenFiscalYears (Unaudited) Function 2013 MunicipalServices #ofhomesservicedbyResidentialRefuseCollection #ofcitizensservicedbyHouseholdHazardousWaste collectionprogram 2014 2015 2016 23,387 24,346 25,320 26,323 546 550 536 503 14,430 36 999 17,533 9.60 0.39 14,959 35 1,025 17,533 11.70 0.32 15,404 36 1,055 17,533 12.70 0.63 16,132 36 865 17,034 11.70 0.63 Wastewater #ofresidentialcustomers #ofmultifamilycustomers #ofcommercialcustomers SewerServiceConnections SewageTreated(millionsgallonsperday) 14,231 38 382 16,918 4.15 14,877 36 370 16,918 4.20 15,335 69 373 17,139 3.81 16,064 36 382 18,236 4.15 OtherPublicWorks Streetresurfacing(miles) Potholesrepaired 30.00 19.20 83.23 109.00 296 1,166 1,253 1,339 Citizen&NeighborhoodResources #ofnewCodeEnforcementcasesprocessedperyear 2,841 3,018 2,863 3,544 WaterService #ofresidentialcustomers #ofmultifamilycustomers #ofcommercialcustomers WaterServiceConnections Waterproductiondailypeakdemand(milliongallonsperday) ReclaimedWaterSupplied(milliongallonsperday)  Source:CityFinancialRecordsandReports NAͲinformationisnotreadilyavailableattimeofproduction (1)LargeincreaseisduetoaoneͲtimehiringofspecialcensusemployees (2)LargeincreaseisduetoinclusionoflibraryvisitorsinFY2016andnewRecreationCenterinFY2022 Page 190 Table23 2018 2017 2019 2020 2021 2022 26,792 29,911 29,673 29,673 31,864 33,094 592 816 631 418 16,713 36 846 17,899 12.90 0.38 17,733 36 839 18,552 12.90 0.13 19,333 19,374 20,284 21,688 38 38 39 60 621 636 1,054 1,025 19,992 20,048 21,377 21,464 12.40 13.60 15.30 16.90 NA NA NA NA 16,649 36 381 18,980 4.36 17,886 36 381 19,340 4.47 19,325 16 270 20,292 4.70 20,383 16 271 20,670 4.69 469 20,383 16 271 20,670 4.69 361 22,732 60 444 21,781 5.82 70.33 105.27 51.56 133.41 116.00 102.20 756 1,344 586 60 103 67 3,212 2,738 2,615 1,943 2,488 3,352 Page 191 Table24 CityofGoodyear CapitalAssetStatisticsbyFunction LastTenFiscalYears (Unaudited) Function 2013 2014 2015 FiscalYear 2016 2017 2018 2019 2020 2021 2022 PublicSafety Police: Stations PoliceVehicles FireStations 3 3 4 4 6 5 5 4 2 2 126 119 133 134 150 133 139 147 155 191 6 6 6 7 6 6 5 5 7 7 HighwaysandStreets Street(miles) Streetlights Trafficsignals 934 934 934 934 934 939 945 1,012 1,041 1,136 8,660 8,832 8,832 9,041 8,651 9,184 9,635 9,635 9,991 10,198 84 86 86 89 89 92 93 95 102 106 CultureandRecreation Parks ParksAcreage SwimmingPools TennisCourts CommunityCenters 17 204 1 6 1 Water WaterMains(miles) FireHydrants Storagecapacity(MillonsofGallons) 308 308 308 330 336 326 330 331 353 374 2,796 2,808 2,951 3,031 3,152 3,177 3,348 3,461 3,475 3,575 16 16 16 16 16 16 16 18 18 18 Wastewater SanitarySewers(miles) StormSewers(miles) Treatmentcapacity(MGD)(thousandsofgallons) 229 239 242 254 260 265 276 270 276 284 57 63 55 54 55 N/A N/A N/A N/A 62 5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.3 7.6 17 204 1 6 1 18 206 1 6 1 18 206 1 6 1 Source:CityFinancialRecordsandReports Page 192 18 206 1 6 1 18 206 1 6 1 18 206 1 6 1 18 206 1 6 1 18 206 1 6 1 20 238 2 8 2 FEDERAL AND STATE REPORTS Page 193 Page 194 Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards The Honorable Mayor and City Council Goodyear, Arizona We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Goodyear, Arizona as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the City of Goodyear, Arizona’s basic financial statements, and have issued our report thereon dated November 1, 2022. Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered the City of Goodyear, Arizona’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City of Goodyear, Arizona’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City of Goodyear, Arizona’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Page 195  Compliance and Other Matters As part of obtaining reasonable assurance about whether the City of Goodyear, Arizona’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. HintonBurdick, PLLC Gilbert, Arizona November 21, 2022  Page 196   Independent Auditors’ Report on State Legal Compliance The Honorable Mayor and City Council Goodyear, Arizona We have audited the basic financial statements of the City of Goodyear, Arizona for the year ended June 30, 2022, and have issued our report thereon dated November 21, 2022. Our audit also included test work on the City of Goodyear’s compliance with selected requirements identified in the State of Arizona Revised Statutes and the Arizona State Constitution including, but not limited to, Title 28, Chapter 18, Article 2. The management of the City of Goodyear is responsible for the City's compliance with all requirements identified above. Our responsibility is to express an opinion on compliance with those requirements based on our audit; accordingly, we make the following statements: The City of Goodyear established separate funds to account for Highway User Revenue funds and Local Transportation Assistance funds. Highway user revenue fund monies received by the City of Goodyear pursuant to Title 28, Chapter 18, Article 2 and other dedicated state transportation revenues received during the current fiscal year appear to have been used solely for authorized purposes. The funds are administered in accordance with Generally Accepted Accounting Principles. Sources of revenues available and fund balances are reflected in the individual fund financial statements. Our opinion regarding the City’s compliance with annual expenditure limitations has been issued separately with the City’s Annual Expenditure Limitation Report. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and 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 material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the City's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. In our opinion, The City of Goodyear complied, in all material respects, with the requirements identified above for the year ended June 30, 2022. The purpose of this report is solely to describe the scope of our testing of the applicable compliance requirements identified in the Arizona Revised Statutes as noted above and the results of that testing based on the state requirements. Accordingly, this report is not suitable for any other purpose. HintonBurdick, PLLC Gilbert, Arizona November 21, 2022  Page 197 This page intentionally left blank Page 198 1980s 1990s Future 2020s ANNUAL COMPREHENSIVE FINANCIAL REPORT City of Goodyear, Arizona Finance Department 190 North Litchfield Road Goodyear, Arizona 85338 623-932-3015