Annual Comprehensive Financial Report FOR THE FISCAL YEAR ENDED JUNE 30, 2023 City of Goodyear, Arizona Finance Department CityofGoodyear,Arizona AnnualComprehensiveFinancialReport FortheYearEndedJune30,2023  TableofContents  IntroductorySection LetterofTransmittal GFOACertificateofAchievement CityofGoodyearOfficials OrganizationalChart  FinancialSection IndependentAuditor’sReport Management’sDiscussionandAnalysis(MD&A) BasicFinancialStatements GovernmentͲWideFinancialStatements: StatementofNetPosition StatementofActivities FundFinancialStatements: GovernmentalFundFinancialStatements BalanceSheet ReconciliationoftheBalanceSheet– GovernmentalFundstotheStatementofNetPosition StatementofRevenues,ExpendituresandChangesinFundBalances ReconciliationoftheStatementofRevenues,Expendituresand ChangesinFundBalances–GovernmentalFundstotheStatementofActivities ProprietaryFundFinancialStatements StatementofNetPosition StatementofRevenues,ExpensesandChangesinFundNetPosition StatementofCashFlows FiduciaryFundFinancialStatements StatementofFiduciaryNetPosition StatementofChangesinFiduciaryNetPosition NotestoFinancialStatements 1. SummaryofSignificantAccountingPolicies 2. CashandInvestments 3. Receivables 4. CapitalAssets 5. Leases 6. LoanPayable 7. GeneralObligationBondsPayable 8. RevenueBondsPayable 9. CommunityFacilitiesDistrictsBondsPayable 10. ChangesinLongͲtermLiabilities 11. InterfundReceivables,Payables,andTransfers 12. ContingentLiabilities 13. RiskManagement 14. PensionsandOtherPostemploymentBenefits 15. ExcessofExpendituresOverAppropriations 16. FundBalanceClassifications 17. DeficitFundBalances Page 1 7 8 9 13 17 37 38 42 45 46 49  50 51 52 53 54  57 69 72 74 75 76 76 77 79 81 82 82 83 84 96 96 96   CityofGoodyear,Arizona AnnualComprehensiveFinancialReport FortheYearEndedJune30,2023  TableofContents  FinancialSection NotestoFinancialStatements 18. Commitments 19. TaxAbatementAgreements Page 97 98  RequiredSupplementaryInformation ScheduleofRevenuesExpendituresandChangesinFundBalances–BudgetandActual: GeneralFund NotestoBudgetandActualSchedules ScheduleoftheProportionateShareoftheNetPensionLiability ScheduleoftheProportionateShareoftheNetOPEBLiabilityͲHealth ScheduleoftheProportionateShareoftheNetOPEBLiabilityͲLTD ScheduleofChangesintheNetPensionLiabilityandRelatedRatios ScheduleofChangesintheNetOPEBLiabilityandRelatedRatios ScheduleofPension/OPEBContributions NotestothePension/OPEBPlanSchedules 102 104 105 106 107 108 112 116 120      OtherSupplementaryInformation BudgetaryComparisonSchedules–MajorGovernmentalFunds NonͲUtilityDevelopmentImpactFees–CapitalProjects GOBonds–CapitalProjects McDowellRoadCommercialCorridorID–DebtService CommunityFacilitiesDistricts–DebtService 123 124 125 126  NonͲMajorGovernmentalFunds–FinancialStatements CombiningBalanceSheet CombiningStatementofRevenues,Expenditures,andChangesinFundBalances 128 130  BudgetaryComparisonSchedules–NonͲMajorGovernmentalFunds HighwayUserRevenue CommunityFacilitiesDistricts–General OfficeofTourismProp302 Grants BallPark Ambulance DebtService CommunityFacilitiesDistricts–Capital 132 133 134 135 136 137 138 139 BudgetaryComparisonSchedules–OtherGovernmentalFunds ParkandRideMarquee CourtEnhancement FillͲtheͲGap JCEF Impound AZSmartandSafe OfficerSafetyEquipment OneArizonaOpioid 142 143 144 145 146 147 148 149   CityofGoodyear,Arizona AnnualComprehensiveFinancialReport FortheYearEndedJune30,2023  TableofContents  FinancialSection BudgetaryComparisonSchedules–EnterpriseFunds Water&Wastewater Sanitation  StatisticalSection NetPositionbyComponent ChangesinNetPosition GovernmentalActivitiesTaxRevenuesbySource ExciseTaxCollections Sales&UseTaxes FundBalancesofGovernmentalFunds ChangesinFundBalancesofGovernmentalFunds PropertyTaxRates PrincipalPropertyTaxpayers AssessedValueandEstimatedActualValueofTaxableProperty PropertyTaxLeviesandCollections UtilityStatisticalDataTenLargestWaterUsers UtilityStatisticalDataTenLargestWastewaterUsers ScheduleofExistingandAdoptedMonthlyWater&WastewaterServiceCharges RatiosofOutstandingDebtbyType RatiosofGeneralBondedDebtOutstanding DirectandOverlappingGovernmentalActivitiesDebt LegalDebtMarginInformation PledgedRevenueCoverage DemographicandEconomicStatistics PrincipalEmployers FullͲTimeEquivalentCityGovernmentEmployeesbyFunction OperatingIndicatorsbyFunction CapitalAssetStatisticsbyFunction    Page 150 151 Table 1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  156 158 165 166 168 170 172 176 181 182 184 185 187 188 190 192 193 194 196 197 198 199 200 204    City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023 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  November28,2023  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)forthefiscalyearendedJune30,2023.  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.  TheaccountingfirmofHeinfeld,Meech&Co.,P.C.anindependentpublicaccountingfirm,performedthe city’sannualfinancialstatementaudit.Theauditorshaveissuedanunmodified(“clean”)opinionofthe CityofGoodyear’sfinancialstatementsforthefiscalyearendedJune30,2023.Theindependentauditor’s reportislocatedatthefrontofthefinancialsectionofthisreport.  Management’sdiscussionandanalysis(MD&A)immediatelyfollowstheindependentauditor’sreporton pages 17Ͳ32 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 varietyofhousingoptions,asenseofcommunityandoutstandingschooldistricts.AccordingtotheUS CensusBureau’sJuly1,2022estimates,asreportedbytheArizonaDepartmentofRevenue,theCityof Goodyear’sestimatedpopulationwas105,406.  1900 N Civic Square Goodyear, AZ 85395 Page 1 goodyearaz.gov  GoodyearhasaCouncil/ManagerformofgovernmentconsistingoftheMayorandsixcouncilmembers. TheMayorandcouncilmembersareelectedatͲlargetostaggeredfourͲyearterms.TheCityCouncilis vestedwithpolicyandlegislativeauthorityandisresponsibleforpassingordinances,adoptingthebudget, appointingcommittee,commission,andboardmembers,andappointingthepositionsofCityManager, CityAttorney,andCityJudge.TheCityManagerisresponsibleforcarryingoutthepoliciesandordinances oftheCityCouncil,aswellasoverseeingthedayͲtoͲdayoperationsofthecity.  Infiscalyear2023astaffof904fullͲtimeequivalentauthorizedemployeesworkingwithin15different departments performed the various functions of Goodyear’s city government. The city provides a full rangeofmunicipalservices,includingpolice,fire,ambulance,residentialsanitation,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 GoodyearBallpark,library,communitycenter,swimmingpool,and18parksencompassing206acres.In addition,GoodyearcontinuestoattractmajoremployerswithitslocationalongInterstate10andState Route303,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.  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  1900 N Civic Square Goodyear, AZ 85395 Page 2 goodyearaz.gov 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  MajorindustrieslocatedwithintheCityboundariesorincloseproximityincludemedicalandhealthcare, data centers, retail stores, advanced manufacturing & logistics, aviation & aerospace, and higher education.  Throughacombinationofmacroeconomicconditionsandvariouslegislativeinitiatives,weyetagainfind ourselvesinanenvironmentofcontinueduncertainty.InflationhitthePhoenixmetroareaparticularly hardthisfiscalyear,toppingoutatastaggering13%inAugustof2022.Costsforcommoditieslikefuel, oilandsteel,whichdirectlyimpactbothourcapitalprojectsanddayͲtoͲdayoperations,continuetobe highlyunpredictable.Yet,inspitetheseunfavorableconditions,unemploymentratesintheValleyhave improvedoverthesametimeperiodresultinginmixedsignalsastothefuturedirectionoftheeconomy.  PermitsforsingleͲfamilyhousingarestillbeingissuedathighlevels,butaredowncomparedtoprioryear activitydueinlargeparttohighmortgageratesandextendedconstructiondevelopmentcyclesrelated tothechallengesstatedabove.Despitethesebottlenecks,ourcitycontinuestobenefitfromgrowth.In additiontoourresidentialgrowth,newbusinessescontinuetolocateinGoodyearexpandingouroneͲ timerevenuesthroughpermitfees,constructionsalestaxes,andusetaxonequipment.Oncecompleted thesenewandexpandingbusinessesbegintogenerateongoingsalesandpropertytaxesforthecity,as wellaslocaljobsforourresidents,whichinturnincreasesourstatesharedrevenues.  SalesTax  Goodyear, like all Arizona cities, has a significant reliance on city sales tax revenues.  Fueled by local growth,salestaxrevenuescontinuetoexceedbudgetedlevelsyearoveryear.Whilesalestaxrevenues forfiscalyear2023decreasedby5.92%overfiscalyear2022levels,citysalestaxof$123millionexceeded budgetby$8.5million,or7.4%.Withtheexceptionofretailpurchasesandresidentialrentaltax,allmajor nonͲconstructioncategoriesoflocalsalestaxexceededtheprioryear’scollections.Thedecreaseinretail purchase collections were more than offset by increases in restaurant & bar and utilities & communicationscategories.   1900 N Civic Square Goodyear, AZ 85395 Page 3 goodyearaz.gov  StateSharedRevenues  ThecityreceivesrevenueallocationsfromtheState.Thesestatesharedrevenuesincludeallocationsof thestateincometax,salestax,fueltax,andmotorvehiclelicensetax.Asignificantportionofthisrevenue isplacedinthecity’sgeneralfundwhereitisusedtosupportdayͲtoͲdayactivities.Thecity’sstateshared revenuesrepresented14.1%ofgovernmentalactivitiesrevenueforfiscalyear2023.Intotal,stateshared revenuestrendedapproximately35.3%higherthantheprioryearduetoUrbanRevenueSharing(URS), increasesinVehicleLicenseTax,StateShared,andStateSalesTaxof57%,24%and17%,respectively.The significantincreaseinURScanbetracedtothefilingextensiongrantedin2020duetothepandemic, whichshiftedalargeamountofactualtaxcollectionstosubsequentyears.Incometaxrevenueisshared on a twoͲyear delay.  Therefore, distributions for FY2023 are based on actual income tax collections receivedbytheArizonaDepartmentofRevenueduringFY2021.Theresultisasignificantshiftinurban revenue sharing (state income tax) revenues with FY2023 appearing artificially higher. This was an isolated,oneͲtimeevent,withthetimingissuecorrectingitselfinFY2024.  PropertyTax  Forfiscalyear2023,thecity’scombined(primaryandsecondary)propertytaxrateremainedconsistent withtheprioryearat$1.7350per$100ofassessedvaluation.Propertytaxcollections,however,increased bymorethan$3.4millionduetoanincreaseintheoverallvaluationfueledbyconstructionthroughout the City. For FY2023, newly constructed properties added $94.7 million of assessed value to the city. Assessed valuation growth of existing properties grew by 2.4% which is in line with state law limiting assessed valuation growth. These property values serve as the base for both Primary and Secondary property taxes and assist in ensuring the city’s ability to service outstanding debt and maintain basic infrastructure.  Forthefiscalyear2024budget,theMayorandCouncilhaveadoptedatotalcombinedpropertytaxrate of $1.7350 per $100 of assessed valuation, which represents no change from fiscal year 2023. 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.  FourfocusareaareidentifiedwithintheStrategicActionPlan:  1.FiscalandResourceManagement:MaintainingalongͲtermview,wemanageourfiscal,human,and physicalresourcesinanefficientandeffectivemanner.Thiseffortisalignedacrosstheorganization withanemphasisontransparency.Thecity’sbusinesspracticeswillbeefficient,businessfriendly,and ensureexceptionalcustomerservicetoallstakeholdersandcitizens.  1900 N Civic Square Goodyear, AZ 85395 Page 4 goodyearaz.gov  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.Goodyearisanoutstandingcommunityforfamiliestogrow,businessestothrive anddreamstoturntoreality.ThecitywasrecentlyrankedbytheU.S.CensusBureauasbeingamongthe fastestgrowingcitiesinthecountry.Weenjoymorethan300daysofsunshineayear,affordablehousing, alowcostofdoingbusiness,andexcellentaccesstotransportation.  The2023NationalCommunitySurveyrevealsthat93percentofresidentsfeelsafeintheirneighborhood and85percentsaidGoodyearisanexcellentorgoodplacetolive.Accordingtoa10Ͳyearstudyconducted byYourLocalSecurity,Goodyearrankssixthinthenationinoverallsafety.  ANerdWalletstudyrankedGoodyear(#3)asoneofthebestcitiesinthenationforveterans.Thestudy based its selection criteria on the level of economic opportunity for veterans; and Movoto ranked Goodyearinitstop10for"BestPlacesNearPhoenixforYoungProfessionals"and"BestPhoenixSuburbs forYoungCouples."  GoodyearwashonoredbytheArizonaChamberofCommerceastheBestCityforBusinessin2020forour businessͲfriendlycustomerserviceandsharpacumeninattractingawealthofindustrytoourcity.   1900 N Civic Square Goodyear, AZ 85395 Page 5 goodyearaz.gov  AwardsandAcknowledgements  CertificatesofAchievement  GovernmentFinanceOfficersAssociationoftheUnitedStatesandCanada(GFOA)awardedaCertificate of Achievement for Excellence in Financial Reporting to the City of Goodyear, Arizona, for its annual comprehensivefinancialreportforthefiscalyearendedJune30,2022.  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 July1,2022.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  1900 N Civic Square Goodyear, AZ 85395 Page 6 goodyearaz.gov Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Goodyear Arizona For its Annual Comprehensive Financial Report For the Fiscal Year Ended June 30, 2022 Executive Director/CEO Page 7 CITY OF GOODYEAR OFFICIALS The Council represents and serves our community as responsible stewards of the public trust. We envision and shape our future by engaging citizen involvement and fostering city staff innovation. Councilmember Bill Stipp, Councilmember Vicki Gillis, Councilmember Sheri Lauritano, Councilmember Brannon Hampton Vice Mayor Laura Kaino, Mayor Joe Pizzillo, Councilmember Wally Campbell CITY OF GOODYEAR OFFICIALS Goodyear has a Council-Manager form of government. The city charter provides for six councilmembers and a mayor – all elected at-large on a non-partisan ballot. Mayor and Council serve four-year terms. The Mayor has a two-term limit and Councilmembers a three-term limit. Councilmembers serve staggered terms to ensure continuity. The Council appoints the city manager, city attorney and municipal judge. ELECTED OFFICIALS Joe Pizzillo, Mayor Term 2023 – 2026 Laura Kaino, Vice Mayor Term 2019 – 2024 Sheri Lauritano, Councilmember Term 2019 – 2024 Wally Campbell, Councilmember Term 2023 – 2026 Bill Stipp, Councilmember Term 2019 – 2024 Brannon Hampton, Councilmember Term 2023 – 2026 Vicki Gillis, Councilmember Term 2023 – 2026 Page 8 APPOINTED OFFICIALS Wynette Reed City Manager Roric Massey City Attorney Honorable Joseph Welty Presiding Municipal Judge Temporary Appointment* * The temporary appointment is under the authority of the Arizona Supreme Court Chief Justice until Council appoints a permanent judge. Organizational Chart Departments (15) Citizens Effective: June 2023 Mayor & Council Municipal Judge Honorable Joseph Welty (Temporary Appointment) City Manager Wynette Reed Municipal Court Crystal Whelan Page 9 City Attorney Roric Massey Legal Services Deputy City Manager Justin Fair City Manager's Office Deputy City Manager Andy Granger Development Services Christopher Baker City Clerk Darcie McCracken Finance Doug Sandstrom Economic Development Wendy Bridges Digital Communications Tammy Vo Fire Paul Luizzi Engineering Steve Scinto Human Resources Lyman Locket Information Technology Lisa Faison (Interim) Police Santiago Rodriguez Parks & Recreation Nathan Torres Public Works Sumeet Mohan Page 10 City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023 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 Page 11 Page 12 IndependentAuditor’sReport   HonorableMayorandMembersoftheCityCouncil CityofGoodyear,Arizona  ReportonAuditofFinancialStatements  Opinions Wehaveauditedtheaccompanyingfinancialstatementsofthegovernmentalactivities,thebusinessͲtype activities,eachmajorfund,andtheaggregateremainingfundinformationofCityofGoodyear,Arizona (City)asofandfortheyearendedJune30,2023,andtherelatednotestothefinancialstatements,which collectivelycomprisetheCity’sbasicfinancialstatementsaslistedinthetableofcontents.  In our opinion, the financial statements referred to above present fairly, in all material respects, the respectivefinancialpositionofthegovernmentalactivities,thebusinessͲtypeactivities,eachmajorfund, andtheaggregateremainingfundinformationoftheCityofGoodyear,Arizona,asofJune30,2023,and therespectivechangesinfinancialpositionand,whereapplicable,cashflowsthereoffortheyearthen endedinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.  BasisforOpinions WeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesof AmericaandthestandardsapplicabletofinancialauditscontainedinGovernmentAuditingStandards, issuedbytheComptrollerGeneraloftheUnitedStates.Ourresponsibilitiesunderthosestandardsare furtherdescribedintheAuditor'sResponsibilitiesfortheAuditoftheFinancialStatementssectionofour report.WearerequiredtobeindependentofCityofGoodyear,Arizona,andtomeetourotherethical responsibilitiesinaccordancewiththerelevantethicalrequirementsrelatingtoouraudit.Webelieve thattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouraudit opinions.  ChangeinAccountingPrinciple As described in Note 1, the City implemented the provisions of GASB Statement No. 96, SubscriptionͲ BasedInformationTechnologyArrangementsandGASBStatementNo.94,PublicͲPrivateandPublicͲPublic PartnershipsandAvailabilityPaymentArrangements,fortheyearendedJune30,2023,whichrepresents achangeinaccountingprinciple.Ouropinionisnotmodifiedwithrespecttothismatter.  ResponsibilitiesofManagementfortheFinancialStatements Management is responsible for the preparation and fair presentation of the financial statements in accordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica,andforthe design, implementation, and maintenance of internal control relevant to the preparation and fair presentationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudor error. Page 13 Inpreparingthefinancialstatements,managementisrequiredtoevaluatewhetherthereareconditions orevents,consideredintheaggregate,thatraisesubstantialdoubtabouttheCity’sabilitytocontinue as a going concern for one year beyond the financial statement date, including any currently known informationthatmayraisesubstantialdoubtshortlythereafter.  Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholeare freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor'sreportthat includesouropinions.Reasonableassuranceisahighlevelofassurancebutisnotabsoluteassurance andthereforeisnotaguaranteethatanauditconductedinaccordancewithgenerallyacceptedauditing standardsandGovernmentAuditingStandardswillalwaysdetectamaterialmisstatementwhenitexists. Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the overrideofinternalcontrol.Misstatementsareconsideredmaterialifthereisasubstantiallikelihood that,individuallyorintheaggregate,theywouldinfluencethejudgmentmadebyareasonableuserbased on the financial statements. In performing an audit in accordance with generally accepted auditing standardsandGovernmentAuditingStandards,we:  x Exerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit. x Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherdueto fraud or error, and design and perform audit procedures responsive to those risks. Such proceduresincludeexamining,onatestbasis,evidenceregardingtheamountsanddisclosures inthefinancialstatements. x Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriateinthecircumstances,butnotforthepurposeofexpressingan opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. x Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofsignificant accountingestimatesmadebymanagement,aswellasevaluatetheoverallpresentationofthe financialstatements. x Concludewhether,inourjudgment,thereareconditionsorevents,consideredintheaggregate, thatraisesubstantialdoubtabouttheCity’sabilitytocontinueasagoingconcernforareasonable periodoftime.  Wearerequiredtocommunicatewiththosechargedwithgovernanceregarding,amongothermatters, theplannedscopeandtimingoftheaudit,significantauditfindings,andcertaininternalcontrolrelated mattersthatweidentifiedduringtheaudit.  OtherMatters RequiredSupplementaryInformation AccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericarequirethattheManagement’s DiscussionandAnalysis,budgetarycomparisoninformation,netpensionliabilityinformation,andother postemploymentbenefitplaninformation,aslistedinthetableofcontents,bepresentedtosupplement thebasicfinancialstatements.Suchinformationistheresponsibilityofmanagementand,althoughnota partofthebasicfinancialstatements,isrequiredbytheGovernmentalAccountingStandardsBoard,who considersittobeanessentialpartoffinancialreportingforplacingthebasicfinancialstatementsinan appropriateoperational,economic,orhistoricalcontext.Wehaveappliedcertainlimitedproceduresto therequiredsupplementaryinformationinaccordancewithauditingstandardsgenerallyacceptedinthe UnitedStatesofAmerica,whichconsistedofinquiriesofmanagementaboutthemethodsofpreparing Page 14 the information and comparing the information for consistency with management’s responses to our inquiries,thebasicfinancialstatements,andotherknowledgeweobtainedduringourauditofthebasic financialstatements.Wedonotexpressanopinionorprovideanyassuranceontheinformationbecause thelimitedproceduresdonotprovideuswithsufficientevidencetoexpressanopinionorprovideany assurance.  SupplementaryInformation Ourauditwasconductedforthepurposeofformingopinionsonthefinancialstatementsthatcollectively comprisetheCity’sbasicfinancialstatements.TheCombiningandIndividualFundFinancialStatements andSchedulesarepresentedforpurposesofadditionalanalysisandarenotarequiredpartofthebasic financialstatements.Suchinformationistheresponsibilityofmanagementandwasderivedfromand relates directly to the underlying accounting and other records used to prepare the basic financial statements.Suchinformationhasbeensubjectedtotheauditingproceduresappliedintheauditofthe basicfinancialstatementsandcertainadditionalprocedures,includingcomparingandreconcilingsuch informationdirectlytotheunderlyingaccountingandotherrecordsusedtopreparethebasicfinancial statements or to the basic financial statements themselves, and other additional procedures in accordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica.Inouropinion, theCombiningandIndividualFundFinancialStatementsandSchedulesinformationisfairlystatedinall materialrespectsinrelationtothebasicfinancialstatementsasawhole.  OtherInformation Managementisresponsiblefortheotherinformationincludedintheannualreport.Theotherinformation comprises the Introductory Section and Statistical Section but does not include the basic financial statementsandourauditor’sreportthereon.Ouropinionsonthebasicfinancialstatementsdonotcover theotherinformationandwedonotexpressanopinionoranyformofassurancethereon.  In connection with our audit of the basic financial statements, our responsibility is to read the other informationandconsiderwhetheramaterialinconsistencyexistsbetweentheotherinformationandthe basic financial statements, or the other information otherwise appears to be materially misstated. If, basedonotherworkperformed,weconcludethatanuncorrectedmaterialmisstatementoftheother informationexists,wearerequiredtodescribeitinourreport.  OtherReportingRequiredbyGovernmentAuditingStandards InaccordancewithGovernmentAuditingStandards,wehavealsoissuedourreportdatedNovember28, 2023,onourconsiderationofCityofGoodyear,Arizona’sinternalcontroloverfinancialreportingandon ourtestsofitscompliancewithcertainprovisionsoflaws,regulations,contracts,andgrantagreements andothermatters.Thepurposeofthatreportissolelytodescribethescopeofourtestingofinternal control over financial reporting and compliance and the results of that testing, and not to provide an opinionontheeffectivenessoftheCityofGoodyear,Arizona’sinternalcontroloverfinancialreportingor on compliance. That report is an integral part of an audit performed in accordance with Government AuditingStandardsinconsideringCityofGoodyear,Arizona’sinternalcontroloverfinancialreportingand compliance.     Heinfeld,Meech&Co.,P.C. Scottsdale,Arizona November28,2023 Page 15 Page 16 Management’sDiscussionandAnalysis FortheYearEndedJune30,2023  ManagementispleasedtoprovidereadersoftheCityofGoodyear,Arizona(City)financial statementsthisoverviewandanalysisforthefiscalyearendedJune30,2023.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 GovernmentͲwideassetsanddeferredoutflowsexceededliabilitiesanddeferredinflows by $1.215 billion (net position) at the close of fiscal year 2023. The unrestricted net position of $213 million represents the amount available to meet the City’s ongoing obligationstocitizensandcreditors.  i Netpositionincreasedby$89.9million.Thiswasprimarilydrivenbya$50.2millionnet increaseincapitalassetsoffsetbya$25.5milliondecreaseinrestrictedassetsforcapital projects, related to completing construction of the new 104,000 square foot City Hall office building and 25,000 square foot library facility. The remaining increase is attributabletoanincreaseinunrestrictednetposition.  i Asofthecloseoffiscalyear2023,theCity’sgovernmentalfundsreportedcombinedfund balancesof$339.7million,anincreaseof$38.0millionincomparisonwiththeprioryear fund balance of $301.6 million.  Of this amount, $35 million, or 10%, is available for spendingatthegovernment’sdiscretion(unassignedfundbalance).  i As of June 30, 2023, unrestricted fund balance (the total of committed, assigned, and unassigned components of fund balance) for the general fund was $208.4 million, an increaseof$31.9millionfromthepriorfiscalyear.  OverviewofFinancialStatements  ThisoverviewintroducestheCity’sbasicfinancialstatements.Thebasicfinancialstatements are comprised of three components:  1) governmentͲwide financial statements, 2) fund financial statements, and 3) notes to the financial statements.  This report also includes supplementaryinformationintendedtofurnishadditionaldetailtosupportthebasicfinancial statementsthemselves. Page 17 OverviewofFinancialStatements  GovernmentͲwide financial statements.  The governmentͲwide financial statements are designedtoprovidereaderswithabroadoverviewoftheCity’sfinances,inamannersimilar toaprivatesectorbusiness.AlloftheactivitiesoftheCity,exceptthoseofafiduciarynature, areincludedinthesestatements.TheactivitiesoftheCityareshownintwocolumnsonthese statements–governmentalactivitiesandbusinessͲtypeactivities.Atotalcolumn,combining thetwoactivitiesisalsoprovided.  The Statement of Net Position presents information on all of the City’s assets, liabilities, deferredinflows/outflowofresources,withthedifferencereportedasnetposition.Over time,increasesordecreasesinnetpositionmayserveasausefulindicatorofwhetherthe financialpositionoftheCityisimprovingordeteriorating.  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.  Governmentalactivities–MostoftheCity’sbasicservicesareincludedhere,suchasgeneral government (administration), public safety (police, fire and court), highways and streets, publicworks,cultureandrecreation,anddevelopmentservices.Theseactivitiesaregenerally supportedbytaxesandgeneralrevenues.  BusinessͲtype activities – The services provided by the City included here are water, wastewater,andsanitationservices.Theseactivitiesareprimarilysupportedthroughuser chargesorfeesintendedtorecoverallorasignificantportionoftheircosts.  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. Page 18 OverviewofFinancialStatements  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 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 thirteen (13) 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.Datafromtheothereight(8) 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.  TheCityadoptsanannualappropriatedbudgetforitsgeneralfund.Abudgetarycomparison statement has been provided for the general fund to demonstrate compliance with this budget.  ProprietaryFunds.TheCitymaintainstwo(2)differenttypesofproprietaryfunds(enterprise andinternalservice),whichutilizefullaccrualaccounting,thesamemethodusedbyprivate sector business. Enterprise funds are used to report the same functions presented as businessͲtypeactivitiesinthegovernmentͲwidefinancialstatements.TheCityusesseparate enterprise funds to account for its Water, Wastewater and Sanitation operations. The proprietary fund financial statements provide the same type of information as the governmentͲwidefinancialstatements,onlyinmoredetail.TheCityhasoneinternalservice fund,theSelfͲInsuranceTrust.TheSelfͲInsuranceTrustFundreportsactivitiesrelatedtoselfͲ insuranceforemployeehealthbenefits.Theinternalservicefundactivitiesarereportedas governmentalactivitiesonthegovernmentͲwidestatements. Page 19 OverviewofFinancialStatements  FiduciaryFunds.Fiduciaryfundsareusedtoaccountforresourcesheldforthebenefitof partiesoutsidethegovernment.FiduciaryfundsarenotreflectedinthegovernmentͲwide financialstatementsbecausetheresourcesofthosefundsarenotavailabletosupportthe City’s own programs. The accounting method used for fiduciary funds is similar to the accountingmethodusedforproprietaryfunds.  The Volunteer Firefighter Fund, is used to report resources held in trust for the alternate pension and benefit plan under Arizona Revised Statutes 9Ͳ981 for volunteer reserve firefighters.TheCustodialFundisusedtoreportactivitiesoftheGain,FillͲaͲNeed,Shopwith aCop,andArizonainActionactivities.ThisCustodialFundaccountsforresources,notina trust,thatareheldbytheCityforotherpartiesoutsideoftheCity’sreportingentity.  NotestotheFinancialStatements.Thenotesprovideadditionalinformationthatisessential for a full understanding of the data provided in the governmentͲwide and fund financial statements.  OtherInformation.Inadditiontothebasicfinancialstatementsandaccompanyingnotes, thisreportalsopresentscertainrequiredsupplementaryinformationconcerningtheCity’s progressinfundingitsobligationstoprovidepensionandOPEBbenefitstoitsemployees.  SupplementaryInformationͲBudgetaryComparisonSchedulesͲMajorGovernmentalFunds arepresentedimmediatelyfollowingtheRequiredSupplementaryInformation.  ThecombiningstatementsreferredtoearlierinconnectionwithnonͲmajorgovernmental funds are presented immediately following the Supplementary Information – Budgetary ComparisonSchedules–MajorGovernmentalFunds.  Budgettoactualcomparisonschedulesfortheotherfunds,includingtheenterprisefunds, arepresentedintheBudgetaryComparisonSchedules–OtherFundssection.  GovernmentͲWideFinancialAnalysis  Thefollowingtables,graphsandanalysisdiscussthefinancialpositionandchangestothe financialpositionoftheCity,asawhole,fortheyearendedJune30,2023withcomparative informationforthepreviousyear.  Asnotedearlier,netpositionovertimemayserveasausefulindicatorofagovernment’s financialposition.AsofJune30,2023,theCity’sassetsanddeferredoutflowsofresources exceeded liabilities and deferred inflows of resources by $1.215 billion. This represents positivegrowthintheCity’snetpositionof$89.86millionoverthepreviousfiscalyear. Page 20 GovernmentͲWideFinancialAnalysis  Totalassetsfortheprimarygovernmentgrewby$115.5million,offsetbygrowthintotal liabilities of $45.3 million. The drivers behind these changes are discussed in more detail within the following sections. The remaining change in net position was attributable to a decreaseindeferredinflowsof$20million,relatedtopensionsandOPEB. GovernmentalActivities BusinessͲtypeActivities TotalPrimaryGovernment Currentandotherassets Capitalassets,net  Totalassets 2023 $458,417,184 801,337,269 1,259,754,452 2022 $417,442,804 772,264,120 1,189,706,923 2023 $110,642,408 467,867,442 578,509,850 2022 $67,372,928 465,733,213 533,106,141 2023 $569,059,592 1,269,204,711 1,838,264,302 2022 $484,815,732 1,237,997,333 1,722,813,064 Deferredoutflows 39,642,180 40,014,534 4,302,979 4,654,329 43,945,159 44,668,863 Currentandotherliabilities LongͲtermliabilities Totalliabilities 90,408,134 316,720,572 407,128,706 85,264,810 317,583,326 402,848,136 58,888,368 188,341,627 247,229,995 13,043,498 193,144,834 206,188,332 149,296,502 505,062,199 654,358,701 98,308,308 510,728,160 609,036,468 Deferredinflows 12,439,824 31,300,925 362,226 1,956,781 12,802,050 33,257,706 547,891,870 505,965,429 284,640,676 276,352,992 832,532,546 782,318,421 Ͳ 6,675,008 42,097,202 98,251,619 184,912,404 $879,828,103 26,425,693 6,586,516 42,926,278 82,740,935 130,927,545 $795,572,396 21,764,979 Ͳ 447,280 257,838 28,109,835 $335,220,608 20,881,614 Ͳ 396,377 Ͳ 31,984,374 $329,615,357 21,764,979 6,675,008 42,544,482 98,509,457 213,022,239 $1,215,048,711 47,307,307 6,586,516 43,322,655 82,740,935 162,911,919 $1,125,187,753  Netposition: Netinvestmentincapitalassets Restrictedfor: Capitalprojects Communityfacilities Debtservice Otherpurposes Unrestricted Totalnetposition  As shown in the table above, current and other assets for the total primary government increased$84millionto$569millionasofJune30,2023.Governmentalactivitiesaccounted for $41 million of the increase, primarily due to an increase in cash and cash equivalents resulting from the surplus of ongoing revenues vs expenditures in the general fund. The surplus is the result of an increase in assessed property taxes and state shared revenues, offsetbyadecreaseincitysalestax.ForFY2023,newlyconstructedpropertiesadded$94.7 millionofassessedvaluetothecity.Assessedvaluationgrowthofexistingpropertiesgrew by2.4%whichisinlinewithstatelawlimitingassessedvaluationgrowth.Theseproperty values serve as the base for both Primary and Secondary property taxes. BusinessͲtype activitiesaccountedfor$43millionoftheincrease,drivenbythereceiptandrecordingofa $36million“inͲlieupayment”forthewastewatertreatmentplantexpansionanda$5million “financialassurancedeposit”fortheestimatedcostsofthededicateddischargelinepump stationandwaterlinesrequiredbyanamendeddevelopmentagreement.  Capital assets, net of depreciation, for the total primary government increased by $31.2 million.Theincreasedrivenbythecompletionofthenew104,000squarefootCityHalloffice buildingand25,000squarefoot,attachedlibraryfacility.  Deferred outflows decreased by $724 thousand, related to the amortization of deferred chargesrelatedtobondeddebt.  Page 21 GovernmentͲWideFinancialAnalysis  Currentandotherliabilitiesincreasedby$51million.Governmentalactivitiesaccountedfor $5millionoftheincrease,withanincreaseof$6.5millioninfinancialassurancedepositsand paymentsinͲlieurelatedtodevelopmentagreements,anda$1.2millionincreaseinaccounts payable,offsetbyadecreaseinunearnedrevenueof$2.7millionfromtherecognitionof grantrevenueforeligibleexpendituresundertheAmericanRescuePlanActgrant.BusinessͲ typeactivitiesaccountedfortheremaining$46millionincrease,primarilyattributabletoan increaseindepositsheldof$43millionrelatedtothereceiptandrecordingofa$36million “inͲlieupayment”forthewastewatertreatmentplantexpansionanda$5million“financial assurancedeposit”fortheestimatedcostsofthededicateddischargelinepumpstationand waterlinesrequiredbyanamendeddevelopmentagreement.  LongͲtermliabilitiesdecreasedby$5.7million,attributabletorecognitionoftheshortͲterm portionofprincipalpaymentsdueintheupcomingfiscalyear.  AsofJune30,2023,thelargestcomponentof theCity’snetpositionwasthenetinvestment in capital assets of $832 million (68.48% of total net position). This includes the City’s investment in land and improvements, artwork, construction in progress, right of way,waterrights,streetscape,infrastructure, buildings and improvements, vehicles, furniture, and equipment, less any related outstanding debt that was used to acquire thoseassets.TheCityusesthesecapitalassets toprovideavarietyofservicestoitscitizens. Accordingly, these assets are not available for future spending.  Although the City’s investment in capital assets is reported net of related debt, it should be noted that the resourcestorepaythisdebtmustbeprovidedfromothersources,sincethecapitalassets themselvescannotbeusedtoliquidatetheseliabilities.  AnadditionalportionoftheCity’snetposition,$169.5millionrepresentsresourcesthatare subjecttorestrictionsonhowtheymaybeused.Theremaining$213.0millionisunrestricted, andmaybeusedtomeettheCity’songoingobligationstocitizensandcreditors.  TheCity’soverallnetpositionincreased$89.9millionfromthepriorfiscalyear,asdiscussed inthefollowingsectionsforgovernmentalandbusinessͲtypeactivities. Page 22 GovernmentͲWideFinancialAnalysis    GovernmentalActivities  TheCity’snetposition,forgovernmentalactivities,totaled$879.8millionatJune30,2023, whichrepresentsanincreaseof$84.3millionoverthepriorfiscalyear.Whileitappearsfrom asocietalstandpointtheworstoftheCoronaviruspandemicisbehindus,wearestillvery muchdealingwiththeeconomicunpredictabilitynotjustinGoodyearbutacrossthecountry. NewchallengesexperienceinFY23includedlaborshortages,supplychaindisruptions,and inflationratesnotseeninover40years.Despitetheseobstacles,theCitycontinuedtosee stronggrowthandongoingconstructionactivityinthecommunity.  Althoughtotalrevenuesof$278.7millionfromgovernmentalactivitieswere$2.7millionless thantheprioryear,theCitycontinuedtoexperiencemonthovermonthincreasesinnonͲ constructiontaxesthroughoutFY23.Andalthoughretailtaxcollectionstrendedlowerthan theprioryear,actualrevenuesreceivedremainedaboveFY23budgetedrevenue.Intotal, VoterApprovedLocalRevenuestrendedapproximately35.3%higherthantheprioryeardue to Urban Revenue Sharing (URS), with increases in Vehicle License Tax, State Shared, and StateSalesTaxof57%,24%and17%,respectively.ThesignificantincreaseinURScanbe traced to the filing extension granted in 2020 due to the pandemic,which shifted a large amountofactualtaxcollectionstosubsequentyears.Additionally,investmentearningsfor FY23totaled$9.7million,anincreaseof$12.7overthepriorfiscalyear.   Page 23 GovernmentͲWideFinancialAnalysis  FY23 expenditures, for governmental activities, totaled $202 million, an increase of $24 millionoverthepriorfiscalyear.Expensesincreasedacrossallgovernmentalactivities,driven primarilybya7.5%marketpayincreasethatwasimplementedthefirstpayperiodofthe fiscalyear,foralleligible,nonͲrepresentedemployeesaswellastheimplementationofthe final year of the Memorandum of Understanding (MOU) for the represented groups from PoliceandFire.Additionally,theCityadded67.04fullͲtimeequivalentpositionsinvarious departments.ThePublicWorksandCulture&Recreationactivitiesexperiencedthelargest increaseofcosts,totaling43%and28%,respectively. The increase in costs were largely driven by costs associated with the maintenance and operation of theGoodyearRecreationCampus,whichincludesa Recreation Center, Aquatics Facility, and 30ͲAcre Park.  Asshowinthechart,revenuesgeneratedbytheCity programs are not sufficient to cover the costs. The City relies on property tax, sales taxes, investment income and other general revenues to cover the costsassociatedwiththevariousprograms.  BusinessͲtypeActivities  TheCity’snetposition,forbusinessͲtypeactivities,totaled$335.2million,anincreaseof$5.6 millionoverthepriorfiscalyear.FY23userratesincreasedslightlycomparedtolastyear.The majorityoftheincrease($5.4million)wasattributabletotheWaterandWastewaterFund. TheFY23Budgetanticipatedadecreaseinnetposition,duetoaplanneduseoffundbalance to finance capital improvement projects. However, during the first half of the fiscal year, commercialfees trailed budget due to lower than anticipated use by a major data center customer and the seasonality in irrigation revenue resulted in lower than expected collections.Inresponse,adjustmentsweremadetothecapitalplanandwateroperationsto mitigate the impact. Ultimately, this postponed the use of available fund balance to subsequentyearsandresultedintheincreaseinnetpositioninFY23.  The remaining $200 thousand increase was attributable to the Sanitation Fund. The FY23 Budget anticipated a decrease in net position,due to a planned use of fund balance.The planneduseoffundbalancewasfortheSolidWasteRearLoaderReplacementproject,which wasnotcompletedwithinthefiscalyear,butcarriedoverintoFY24.  Page 24 FinancialAnalysisofGovernmentalFunds  Asnotedearlier,theCityusesfundaccountingtoensureanddemonstratecompliancewith financeͲrelatedlegalrequirements.  GovernmentalFunds  ThefocusoftheCity’sgovernmentalfundsistoprovideinformationonnearͲterminflows, outflows,andbalancesofspendableresources.Suchinformationisusefulinassessingthe City’sfinancingrequirements.Inparticular,unassignedfundbalancemayserveasauseful measureofagovernment’snetresourcesavailablefordiscretionaryuseastheyrepresent theportionoffundbalancewhichhasnotyetlimitedtouseforaparticularpurposebyeither anexternalparty,theCityitself,oragrouporindividualthathasbeendelegatedauthorityto assignresourcesforuseforparticularpurposesbytheCityCouncil.  AtJune30,2023,theCity’sgovernmentalfundsreportedcombinedfundbalancesof$339.7 million,anincreaseof$38millionofoverthepriorfiscalyear.Ofthisamount,$35million,or 10.3%,constitutesunassignedfundbalance,whichisavailableforuseattheCity’sdiscretion. TheremainderofthefundbalanceisNonspendable,Restricted,Committed,andAssigned,in theamountof$1.9million,$124.1million,$5.3millionand$173.3million,respectively.  AnalysisofIndividualFunds  Thegeneralfundisthechiefoperatingfund of the City. As of June 30, 2023, total fund balance increased $32.5 million to $211.6 million. Of this amount, $35 million is unassigned. As a measure of the general fund’sliquidity,itmaybeusefultocompare bothunassignedfundbalanceandtotalfund balance to the City’s total general fund expendituresof$150.1million.Unassignedfundbalancerepresents23.36%oftotalgeneral fundexpenditures,whiletotalfundbalancerepresents141%ofthatsameamount.   ThefundbalanceoftheCity’sgeneralfundincreased$32.5millionduringFY23.Theincrease wasprimarilyduetoa$42.3millionincreaseinassets.Morespecifically,theincreasewasin cashandcashequivalentsthatresultedfromthesurplusofongoingrevenuesvsexpenditures inthegeneralfund.Asmentionedpreviously,thesurpluswastheresultofanincreasein assessedpropertytaxesandstatesharedrevenues,offsetbyadecreaseincitysalestax.The increaseinassetswasoffsetbya$10.5millionincreaseinaccountspayableandfinancial assurance deposits made by developers.  The remaining change was attributable to the amortizationofdeferredinflowsrelatedtoleases.  Page 25 FinancialAnalysisofGovernmentalFunds  TheNonͲUtilityDevelopmentImpactFeeͲCapitalProjectsFund,amajorfund,hadan$11.2 millionincreaseinfundbalancefromtheprioryear,withatotalfundbalanceof$91.5million asofJune30,2023.Theincreasewastheresultofasurplusinrevenuesversusexpenditures. DevelopmentͲrelatedrevenuesof$30millionwereessentiallyflat,whencomparedtothe prioryear.However,capitaloutlayswerelessthanplannedwith$19.6millioninexpenses relatedtooveradozenprojects.Therewerethreeprojectsthataccountedfor85%ofthe costs: the Fire Station 188 West Goodyear, Police Building Phase II, and the Sarival AveͲ JeffersonStreettoYumaprojects.  TheGeneralObligationͲCapitalExpenditureFund,amajorfund,hadatotalfundbalanceof $19.4 million, a decrease of $7.0 million from the prior fiscal year. The decrease in fund balancewascausedbythespendingofresources,obtainedthroughtheissuanceoflongͲ termdebtinapriorperiod,oncapitalacquisitionandconstructioninthecurrentperiod.This includedtwopublicsafetyprojects,theFireStation183Renovation&Ambulancefacility, andthePolicyBuildingPhaseII.  TheMcDowellRoadCommercialCorridor–DebtServiceFund,amajorfund,hadatotalfund balanceof$170thousand,adecreaseof$766thousandfromthepriorfiscalyear.Special assessmentrevenue,receivedforthepaymentofprincipalandinterest,totaled$3.13million in FY23. Payments of principal and interest totaled $3.9 million.  In general, current year receiptsareadequatetopayprincipalinterest.However,theCityhadreceivedanadditional $970 thousand in a prior period to make two special optional redemptions. These special redemptionswereprocessedonJanuary2,2023andJuly1,2023.  The Community Facilities District – Debt Service fund, a major fund, had a $1.33 million increaseinfundbalancefromtheprioryear,withatotalfundbalanceof$2.68millionasof June30,2023.Thesurplusisthenetresultofthefollowingtransactions.Revenuesrelatedto propertytaxandspecialassessmentstotaled$9.6million.Principalandinterestpayments were$9.2million.Duringthefiscalyear,theEstrellaMountainRanchCommunityFacilities District,LuceroAssessmentDistrictNo.2issuedspecialassessmentrevenuebondswithapar amountof$4.4million.Aspartofthetransaction,theCityalsoreceived$353thousandin contributionsfromthemajorlandowner.Proceedsintheamountof$4.1millionwereused toreimburseadeveloperforwaterline,sewersystem,andwatersystemimprovements,and $232thousandwasusedtopaybondissuancecosts.Additionally,thefundreceived$186 thousand in investment income and $309 thousand in reimbursements from the general fund,relatedtoaprevioustransaction.  TheNonͲMajorGovernmentalFunds,increasedby$769thousandfromtheprioryear,with atotalfundbalanceof$14.3million,asofJune30,2023.Thefollowingfundsendedthefiscal yearwithasurplusofrevenuesversusexpenditures:HighwayUserRevenueFund($592K), Ambulance($407K),BallparkCapitalReplacement($546K),CFDUtility#1(436K),andEMRͲ General(343K).Theirsurpluswasoffsetbydeficitofrevenuesversusexpendituresinthe followingfundsSecondaryPropertyTax($782K),EMRͲCIP(902K). Page 26 FinancialAnalysisofGovernmentalFunds  ProprietaryFunds  Theproprietaryfundfinancialstatementsarepreparedonthesameaccountingbasisand measurement focus as the governmentͲwide financial statements, but provide additional detailsinceeachmajorenterprisefundisshowndiscretely.  Theproprietaryfundsnetpositiontotals$335.2million,anincreaseof$5.6millionfromthe previousfiscalyear.  ThenetpositionforWaterandWastewatertotaled$330.5million,anincreaseof$5.4million whencomparedtotheprioryear.UnrestrictednetpositionfortheWaterandWastewater Fundtotaled$24.8million,or7.48%,attheendofthefiscalyear.Asnotedearlierinthe discussionofbusinessͲtypeactivities,therewasaslightincreaseinuserratescomparedto lastyear.However,theFY23Budgetanticipatedadecreaseinnetposition,duetoaplanned use of fund balance to finance capital improvement projects.Duetotrailingcommercialandirrigationfees inthefirsthalfoftheyear,adjustmentsweremadeto the capital plan and water operations to mitigate the impact.Ultimately,thispostponedtheuseofavailable fund balance to subsequent years and resulted in the increaseinnetpositioninFY23.  The net position for Sanitation totaled $4.8 million, an increase of $165 thousand when comparedtolastyear.UnrestrictednetpositionfortheSanitationFundtotaled$4.1million, or85.63%,attheendofthefiscalyear.Asnotedearlier inthediscussionofbusinessͲtypeactivities,therewere nomajorchangestooperations,comparedtolastyear. However,theFY23Budgetanticipatedadecreaseinnet position,duetoaplanneduseoffundbalancewhichdid notmaterialize.ThereplacementoftheSolidWasteRear Loaderwascarriedforwardtoasubsequentyear.   GeneralFundBudgetaryHighlights  TheCity’sannualbudgetisthelegallyadoptedexpenditurecontroldocumentoftheCity.The GeneralFundbudgetarycomparisonschedulecanbefoundintheRequiredSupplementary Informationsection.TheotherbudgetarycomparisonschedulescanbefoundintheOther SupplementaryInformationsection.  Original budget compared to final budget. During the fiscal year, there were budget amendments that transferred a net $24.2 million of budget authority from general fund contingency.Themostsignificanttransfersarediscussedbelow. Page 27 GeneralFundBudgetaryHighlights  There were $10.6 million of budget amendments that transferred budget authority into general fund contingency. Four CIP projects that were either deferred to future years or canceled,accountedfor$10.2millionoftheamendments,or96%.  Therewere$37.3millionofbudgetamendmentstotransferbudgetauthorityoutofgeneral fund contingency. A budget amendment in the amount of $12.5 million was approved to purchasetheexistingNorthParkingGarageatGSQ,thesiteofthenewCityHallBuilding.A budgetamendmentintheamountof$4.1millionwasauthorizedtoreimburseadeveloper forcostsrelatedtowaterline,sewersystem,andwatersystemimprovementsforoneofthe Community Facilities Districts. A budget amendment in the amount of $4 million was approved related to a revised scope of work for a project to evaluate the expansion and interim reͲrating that addresses short term growth in the Goodyear Water Reclamation Facility service area. A budget amendment in the amount of $2.3 million to advance the designand constructionoftheCottonLane& YumaRoadLaneAdditionwasapproved.A budgetamendmentintheamountof$2.4milliontochangethescope,scheduleandbudget foraprojectthatincludedimplementingahalfstreetstormwaterretentionstrategy,enhance landscaperestorationeffortsandstormwaterretention,andtoprovidetransitionalroadway improvements, was authorized. A budget amendment in the amount of $2 million to accelerate the design of a Water Reclamation Facility was approved. The project is being acceleratedduetothegrowthoftheCommunityoccurringquickerthanexpected.Withthe existingfacilityatanestimated80%ofitspermittedcapacity,MaricopaCountyrequiresthe Citytostartdesignoftheexpansion.Theamendmentalsoprovidestheresourcesforthe CitytoassistLibertyUtilitieswhiletheyworktoinstallanewreclamationfacilityonSarival and McDowell.  The remaining $9.7 million in budget amendments were made of various amendmentsthatwereunder$1million.  Finalbudgetcomparedtoactualresults.Thefollowingtableshowsthedifferencesbetween budgetedandactualrevenues.   Page 28 GeneralFundBudgetaryHighlights  Taxrevenuesexceededbudgetby$8.5million,withconstructionsalestaxandfranchisefees accountingfor$7.3millionand$790thousandofthevariance,respectively.Licenses,permits and fees were $2.6 million more than budget due to Engineering Plan Review fees. Intergovernmental revenues exceeded budget by $3.4 million. As previously mentioned, VoterApprovedLocalRevenuestrendedapproximately35.3%higherthantheprioryeardue to Urban Revenue Sharing (URS), with increases in Vehicle License Tax, State Shared, and State Sales Tax of 57%, 24% and 17%, respectively. Charges for services of $3.4 million exceededbudgetby$1.4million,with$760thousandofthevariancerelatedtoFireService feesreceivedfromtheCityofLitchfieldPark.Theremainderofthevariancewasattributable tohigherthanexpectedfeesfromspecialinterestclassesandrecreationcenterpasses,inthe firstyearofoperationsfortheGoodyearRecreationCenter.Investmentincomewas$6.6 millionmorethanbudgetwiththefiscalyearperformanceoftheCity’smanagedinvestment portfoliooutperformingtheTotalReturnbenchmark.  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, andusetaxonequipment.Oncecompletedthesenewandexpandingbusinessesbeginto generateongoingsalesandpropertytaxesforthecity,aswellaslocaljobsforourresidents, whichinturnincreasesourstatesharedrevenues.  As shown in the following chart, significant variances between budget versus actual results exist in the Capital Outlay and General Government activities. Actuals expenditures of $18.2 million were $96 million less than a budgeted outlay of $114.2 million for capital improvementprojects.Thetwolargestvariances were$37.8millionfortheCamelbackRdͲSR303to 152ndAveproject,and$12.5millionfortheGSQ Gen2ParkingGarage.Budgetauthorityforthese andmultipleotherprojectswerepredominatelycarriedforwardtosubsequentyears.  Actualexpendituresof$30.2millionwere$43.3millionlessthanabudgetof$73.5million. Approximately$36million,or83%,ofthevarianceisattributabletothebudgetauthority reservedforcontingency.Afteraccountingforthereserve,generalgovernmentexpensesof $30.2 million can be compared to a budget of $37.6 million, resulting in a $7.4 million variance.  The City Manager’s Office accounts for $3.6 million of the variance, related to communityfundingexpendituresbeing$954thousandlessthanbudgetedandcontingency reservesof$1.6million. Page 29 CapitalAssetsandDebtAdministration  CapitalAssets  TheCity’sinvestmentincapitalassets(netofaccumulateddepreciation/amortization)forits governmentalandbusinessͲtypeactivitiesasofJune30,2023totaled$801millionand$468 million, respectively. The investment in capital assets include land, land improvements, artwork, construction in progress, right of way, water rights, streetscape, infrastructure, buildingsandimprovements,vehicles,furnitureandequipment,andtherightstouseassets (leasedassets).Intotal,therewasanincreaseof$31.2millionfromthepriorfiscalyear.    MajorcapitaleventsduringFY23includedthefollowing:  x CompletionoftheGoodyearCityHallbuilding,includingthetransferofconstruction workinprocesscostsandplacingtheassetinservice  x Completion of the Surface Water Treatment Plant, including the transfer of constructionworkinprocesscostsandplacingtheassetinservice  AdditionalinformationontheCity’scapitalassetscanbefoundinNote4.  DebtAdministration  Attheendofthefiscalyear,theCityhadtotallongͲtermdebtoutstandingof$431.1million. Ofthisamount$141.3millionisingeneralobligationbondsbackedbythefullfaithandcredit of the City, $65.2 million is in Community Facilities Districts bonds which are paid by the propertyownerswithinthosedistricts,$222.7millionisinrevenuebondswhicharepayable fromuserfees,assessments,andgeneralfundrevenuesand$1.9millioninloanspayableto WaterInfrastructureFinanceAuthorityofArizona(WIFA)whichispayablefromuserfees.  Page 30 CapitalAssetsandDebtAdministration  ThefollowingscheduleshowstheoutstandingdebtobligationasofJune30,2023and2022:  GovernmentalActivities 2023 2022 Generalobligationbonds $107,045,360 $113,133,855 Communityfacilitiesdistrictsbon 65,183,000 67,187,000 Leasepayable 60,628 79,374 Loanpayable Ͳ Ͳ Revenuebonds 87,545,000 99,396,237 Totals $259,833,988 $279,796,466 BusinessͲtypeActivities 2023 2022 $34,294,640 $37,421,145 Ͳ Ͳ Ͳ Ͳ 1,902,451 2,198,125 135,100,000 137,125,000 $171,297,091 $176,744,270 TotalPrimaryGovernment 2023 2021 $141,340,000 $150,555,000 65,183,000 67,187,000 60,628 79,374 1,902,451 2,198,125 222,645,000 236,521,237 $431,131,079 $456,540,736   TheStateconstitutionlimitstheamountofgeneralobligationdebtacitymayissuetosix percent(6%)ofitstotalnetfullcashassessedpropertyvaluation.Thecurrentsixpercent debtlimitationfortheCityis$106.3million.TheCityhas$33.1millionofoutstandingrevenue obligationbondssubjecttothe6%limit.Inaddition,theStateconstitutionlimitallowsacity to issue an additional twenty percent (20%) of its total net full cash assessed property valuationforwater,wastewater,lights,transportation,publicsafety,openspacepreserves, parks,playgroundsandrecreationalfacilities.Thecurrent20%debtlimitationfortheCityis $354.4million.TheCityhas$108.3millionofoutstandinggeneralobligationdebtofwhichall issubjecttothe20%limit.  Duringtheyear,theCitymaintainedthefollowingbondratings,asofJune30,2023:  AdditionalinformationontheCity’slongͲtermdebtcanbefoundinNotes5through10.  EconomicFactorsandNextYear’sBudget  Throughacombinationofmacroeconomicconditionsandvariouslegislativeinitiatives,we yetagainfindourselvesinanenvironmentofcontinueduncertainty.InflationhitthePhoenix metro area particularlyhard this fiscal year, topping out at a staggering 13% in August of 2022.Costsforcommoditieslikefuel,oilandsteel,whichdirectlyimpactbothourcapital projectsanddayͲtoͲdayoperations,continuetobehighlyunpredictable.Yet,inspitethese unfavorableconditions,unemploymentratesintheValleyhaveimprovedoverthesametime periodresultinginmixedsignalsastothefuturedirectionoftheeconomy. Page 31 EconomicFactorsandNextYear’sBudget  ThroughtheendofFY23,multiͲfamilypermitswereupapproximately7.3%versustheprior year;however,permitsforsingleͲfamilyhousingweredown43%anddevelopmentͲrelated revenuewasessentiallyflat.Similarpullbacksindevelopmentactivityarenotjustisolatedto ourcitybuthavebeenseenallaroundthePhoenixmetroarea.  ForFY2024,newlyconstructedpropertiesadded$81.5millionofassessedvaluetothecity, whileassessedvaluationgrowthofexistingpropertiesgrewby5.6%.Thesepropertyvalues serve as the base for both primary property tax revenues, which support the dayͲtoͲday GeneralFundoperatingbudget,andsecondarypropertytaxeswhichsupportvoterͲapproved GeneralObligationbondeddebtservice.  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 32 BasicFinancialStatements Page 33 Page 34 GovernmentͲWideFinancialStatements Page 35 Page 36 CityofGoodyear,Arizona StatementofNetPosition June30,2023 Governmental Activities Assets Cashandcashequivalents $204,425,845 Investments 167,606,488 Receivables(netofallowance) 59,173,440 Leasesreceivable 6,081,819 Inventories 1,431,298 Prepaiditems 472,374 Notesreceivable 1,675,250 Netpension/OPEBasset 2,029,210 Temporarilyrestrictedassets: Cashandcashequivalents 15,521,460 Capitalassets(netofaccumulateddepreciation/amortization): Land 39,713,528 1,008,171 Artwork Constructioninprogress 39,877,997 Rightofway 90,981,251 Streetscape 9,061,008 Landimprovements 29,230,863 Infrastructure 271,156,358 Buildings 290,184,000 30,069,744 Vehicles,furniture,andequipment Waterrights Righttouseasset 54,349 Totalassets 1,259,754,453 Deferredoutflowsofresources Deferredoutflowsrelatedtopensions/OPEB Deferredchargeonrefunding Totaldeferredoutflowsofresources BusinessͲtype Activities $35,679,438 26,179,133 4,546,508  2,532,211   257,838 41,447,280  8,359,054 146,978 9,117,481   294,395,357 128,719,005 9,012,586 18,116,981  578,509,850 Total $240,105,283 193,785,621 63,719,948 6,081,819 3,963,509 472,374 1,675,250 2,287,048  56,968,740  48,072,582 1,155,149 48,995,478 90,981,251 9,061,008 29,230,863 565,551,715 418,903,005 39,082,330 18,116,981 54,349 1,838,264,303 34,711,263 1,706,617 36,417,880 4,930,917 2,596,362 7,527,279 39,642,180 4,302,979 43,945,159 Liabilities Accountspayableandothercurrentliabilities Interestpayable Depositsheld Unearnedrevenues Noncurrentliabilities: Duewithinoneyear Dueinmorethanoneyear NetpensionandOPEBliability Totalliabilities 28,265,751 259,343,417 57,377,155 407,128,706 Deferredinflowsofresources Deferredinflowsrelatedtopensions/OPEB Leasesrelated Totaldeferredinflowsofresources 6,509,894 362,226 6,872,120 5,929,930  5,929,930 12,439,824 362,226 12,802,050 Netposition Netinvestmentincapitalassets Restrictedfor: Capitalprojects Communityfacilities Debtservice Developmentimpactfees Pensions/OPEB Otherpurposes Unrestricted Totalnetposition Page 37 24,042,632 926,142 36,532,463 641,146 9,106,396  43,584,128   6,197,844 180,934,593 7,407,034 247,229,995 33,149,028 926,142 80,116,591 641,146  34,463,595 440,278,010 64,784,189 654,358,701 547,891,870 284,640,676 832,532,546  6,675,008 42,097,202 91,525,058 2,029,210 4,697,351 184,912,404 $879,828,103 21,764,979  447,280  257,838  28,109,835 $335,220,608 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. 21,764,979 6,675,008 42,544,482 91,525,058 2,287,048 4,697,351 213,022,239 $1,215,048,711 CityofGoodyear,Arizona StatementofActivities FortheYearEndedJune30,2023 ProgramRevenue OperatingGrants CapitalGrants Chargesfor and and Functions/Programs Governmentalactivities Generalgovernment Publicsafety Highwaysandstreets Publicworks Cultureandrecreation Developmentservices InterestonlongͲtermdebt Totalgovernmentalactivities Expenses Services Contributions Contributions $38,061,902 72,526,205 24,863,132 8,052,159 33,318,763 15,613,064 9,537,281 201,972,506 $1,857,785 1,914,488 118,143 120,113 3,411,962 15,933,323  23,355,814 $3,240,067 3,582,059 7,865,237  276,657 315,332 1,398,338 16,677,690 $8,145,774 8,301,130 14,086,228  4,022,024 2,244,954  36,800,110 BusinessͲtypeactivities Waterandwastewater Sanitation TotalbusinessͲtypeactivities Totalprimarygovernment 49,903,049 7,486,417 57,389,466 259,361,972 53,005,605 8,802,201 61,807,806 85,163,620    16,677,690 7,594,454  7,594,454 44,394,564 Generalrevenues: Taxes: Citysalestax Franchisetax Propertytax Autolieutax(unrestricted) Statesalestax(unrestricted) Urbanrevenuesharing(unrestricted) Unrestrictedinvestmentearnings Other Transfers Totalgeneralrevenuesandtransfers Changeinnetposition Netposition,beginningofyear Netposition,endofyear Page 38 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. Net(Expense)RevenueandChangesinNetPosition Governmental BusinessͲtype Activities Activities Total $(24,818,276) $ (58,728,528)  (2,793,524)  (7,932,046)  (25,608,120)  2,880,545  (8,138,943)  (125,138,892)  $(24,818,276) (58,728,528) (2,793,524) (7,932,046) (25,608,120) 2,880,545 (8,138,943) (125,138,892)  10,697,010  1,315,784  12,012,794 (125,138,892) 12,012,794 10,697,010 1,315,784 12,012,794 (113,126,098) 115,585,674 4,608,000 31,543,708 5,045,720 15,038,266 19,298,909 9,654,094 1,064,227 7,556,001 209,394,599 84,255,707 795,572,396 $879,828,103 Page 39    115,585,674  4,608,000  31,543,708  5,045,720  15,038,266  19,298,909 1,093,207 10,747,301 55,251 1,119,478 (7,556,001)  (6,407,543) 202,987,056 5,605,251 89,860,958 329,615,357 1,125,187,753 $335,220,608 $1,215,048,711 Page 40 FundFinancialStatements Page 41 CityofGoodyear,Arizona BalanceSheet GovernmentalFunds June30,2023 General Assets Cashandcashequivalents Investments Receivables: Taxes Interest Accounts Assessments Intergovernmental Leases Duefromotherfunds Inventories Prepaiditems Notesreceivable Restrictedcashandinvestments Totalassets Liabilities Accountspayable Accruedwagesandbenefits Accruedinterestpayable Depositsheld Duetootherfunds Bondspayable Unearnedrevenue Totalliabilities Deferredinflowsofresources UnavailablerevenuesͲpropertytaxes UnavailablerevenuesͲspecialassessments UnavailablerevenuesͲintergovernmental UnavailablerevenuesͲother Leasesrelated Totaldeferredinflowsofresources Fundbalances Nonspendable Restricted Committed Assigned Unassigned Totalfundbalances Totalliabilities,deferredinflowsofresources andfundbalances Page 42 NonͲUtility McDowellRoad Development Commercial ImpactFees GOBondsCapital CorridorIDDebt Projects CapitalProjects Service $126,426,154 $67,565,900 $2,070,420 $25,696 106,235,976 28,909,248 18,472,336 144,003 17,064,032 8,831 1,410,784 19 153,711 6,081,819 264,403 171,959 472,374 1,675,250 7,331,417 $267,296,729            $96,475,148            $20,542,756    17,882,281        $18,051,980 $9,523,665 2,087,342  36,342,255  $4,950,089     $1,156,029     $      4,375 52,643  48,005,905 4,950,089 1,156,029 4,375 76,589   1,675,250 5,929,930 7,681,769              17,877,923    17,877,923 644,333 2,577,869 91,525,059 19,386,727 169,682 173,332,889   35,053,964  211,609,055 91,525,059 19,386,727 169,682 $267,296,729 $96,475,148 $20,542,756 $18,051,980 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. Community NonͲMajor FacilitiesDistricts Governmental DebtService Funds $  Total Governmental Funds 88,449  1,013 21,057,578       8,190,043 $29,337,083 $7,931,055 $204,019,225 5,525,454 159,287,017  102,793 17,255,274  8,831 157,447 1,569,244  38,939,878 1,093,105 1,246,816  6,081,819  264,403 1,259,339 1,431,298  472,374  1,675,250  15,521,460 $16,069,193 $447,772,889 $900  926,142   4,668,000  5,595,042 $542,280 103,309  190,208 264,403  584,128 1,684,328 $16,172,963 2,190,651 926,142 36,532,463 264,403 4,668,000 641,146 61,395,768  21,057,578    21,057,578 59,670  44,047   103,717 136,259 38,935,501 44,047 1,675,250 5,929,930 46,720,987 1,259,339 1,903,672 2,684,463 7,738,992 124,082,792 5,301,702 5,301,702  173,332,889 (18,885) 35,035,079  2,684,463 14,281,148 339,656,134 $29,337,083 $16,069,193 $447,772,889 Page 43 Page 44 CityofGoodyear,Arizona ReconciliationoftheBalanceSheetofGovernmentalFundstotheStatementofNetPosition June30,2023 TotalfundbalancesͲgovernmentalfunds $339,656,134 AmountsreportedforgovernmentalactivitiesintheStatementofNetPosition aredifferentbecause: Capitalassetsusedingovernmentalactivitiesarenotfinancialresources and,therefore,arenotreportedinthefunds. Governmentalcapitalassets Lessaccumulateddepreciation/amortization 1,146,355,448 (345,018,179) 801,337,269 NetOPEBassetisnotanavailableresourceand,therefore,isnot reportedinthefunds. 2,029,210 LongͲtermliabilitiesarenotdueandpayableinthecurrentperiod and,therefore,arenotreportedinthefunds. Bondspayable Deferredchargedonrefunding Leasespayable Netpension/OPEBliability Compensatedabsences (277,702,415) 4,930,917 (60,361) (57,377,155) (9,846,392) (340,055,406) Somereceivablesarenotavailabletopayforcurrentperiodexpenditures and,therefore,arereportedasunavailablerevenuesinthefunds. Propertytaxes Specialassessments Intergovernmental Other 136,259 38,935,501 44,047 1,675,250 40,791,057 InternalServiceFundsareusedbymanagementtochargethecostof certainactivitiestoindividualfunds.Theassetsandliabilitiesofthe InternalServiceFundsareincludedintheStatementofNetPosition. Deferredoutflowsandinflowsofresourcesrelatedtopensions/OPEBare applicabletofutureperiodsand,therefore,arenotreportedinthefunds. Deferredoutflowsofresourcesrelatedtopensions/OPEB Deferredinflowsofresourcesrelatedtopensions/OPEB 7,868,470 34,711,263 (6,509,894) 28,201,369 Netpositionofgovernmentalactivities Page 45 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. $879,828,103 CityofGoodyear,Arizona StatementofRevenues,ExpendituresandChangesinFundBalances GovernmentalFunds FortheYearEndedJune30,2023 NonͲUtility McDowellRoad Development Commercial ImpactFees Revenues Taxes Licenses,permitsandfees Intergovernmentalrevenue Chargesforservices Finesandforfeitures Investmentincome Specialassessments Contributions Otherrevenues Totalrevenues Expenditures Current: Generalgovernment Publicsafety Highwaysandstreets Publicworks Cultureandrecreation Developmentservices Capitaloutlay Debtservice: Principalretirement Interestandfiscalcharges Bondissuancecosts Totalexpenditures GOBondsCapital CorridorIDDebt General CapitalProjects Projects Service $122,621,965 16,403,295 43,235,972 3,567,507 1,061,724 7,017,081  2,858,224 1,359,507 198,125,275 $10,527,066   18,586,402  1,672,145    30,785,613 $     400,745    400,745 $     1,536 3,128,962   3,130,498 30,181,173 62,002,603 258,616 5,835,433 17,828,219 14,554,518 18,242,132 29,908      19,560,320     15,699  17,138,404        1,145,249 26,799  150,074,742    19,590,228    17,154,103 3,265,000 631,675  3,896,675 Excess(deficiency)ofrevenuesoverexpenditures 48,050,533 11,195,385 (16,753,358) (766,177) Otherfinancingsources(uses) Transfersin Transfersout Debtissuance Saleofcapitalassets Totalotherfinancingsources(uses) 10,646,868  9,714,392 (26,400,565) (10,869)     250,461   (15,503,236) (10,869) 9,714,392 Changesinfundbalances 32,547,297 11,184,516 (7,038,966) (766,177) Fundbalances,beginningofyear 179,061,758 80,340,543 26,425,693 935,859 Fundbalances(deficit),endofyear $211,609,055 $91,525,059 $19,386,727 $169,682 Page 46 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement.      Community NonͲMajor FacilitiesDistricts Governmental Total Governmental DebtService Funds Funds $7,079,360     186,039 2,474,292 353,322 162 10,093,175 $11,539,503  11,696,262 1,775,731  205,783  1,373,958 409,180 27,000,417 $151,767,894 16,403,295 54,932,234 23,929,640 1,061,724 9,483,329 5,603,254 4,585,504 1,768,849 269,535,723        1,097,005 743,820 8,065,193  6,574,740 315,332 6,377,231 31,308,086 62,746,423 8,323,809 5,835,433 24,418,658 14,869,850 61,318,087 6,433,000 2,738,137 232,083 9,403,220 13,548,495 6,907,381  43,629,197 24,391,744 10,303,992 232,083 243,748,165 689,955 (16,628,780) 25,787,558 309,087 20,797,903 41,468,250 (4,100,860) (3,399,955) (33,912,249) 4,429,000  4,429,000   250,461 637,227 17,397,948 12,235,462 1,327,182 769,168 38,023,020 1,357,281 13,511,980 301,633,114 $2,684,463 $14,281,148 $339,656,134 Page 47 Page 48 CityofGoodyear,Arizona ReconciliationoftheStatementofRevenues,Expendituresand ChangesinFundBalancesofGovernmentalFundstotheStatementofActivities FortheYearEndedJune30,2023 ChangesinfundbalancesͲtotalgovernmentalfunds $38,023,020 AmountsreportedforgovernmentalactivitiesintheStatementofActivitiesaredifferent because: Governmentalfundsreporttheportionofcapitaloutlayforcapitalizedassetsasexpenditures. However,intheStatementofActivities,thecostsofthoseassetsareallocatedovertheir estimatedusefullivesandreportedasdepreciation/amortizationexpense. Capitalcontributions Capitaloutlay Lesscurrentyeardepreciation/amortization $9,435,082 49,570,384 (29,901,954) 29,103,512 SomerevenuesintheStatementofActivitiesthatdonotprovidecurrentfinancial resourcesarenotreportedasrevenuesinthefunds. Propertytaxes Specialassessments Intergovernmental (96,225) (667,547) 43,953 (719,819) IssuanceoflongͲtermdebtprovidescurrentfinancialresourcestogovernmentalfunds, buttheissuanceincreaseslongͲtermliabilitiesintheStatementofNetPosition. (4,429,000) RepaymentsoflongͲtermdebtprincipalareexpendituresinthegovernmentalfunds, buttherepaymentreduceslongͲtermliabilitiesintheStatementofNetPosition. Leaseprincipalretirement Bondprincipalretirement 19,013 24,372,731 24,391,744 Governmentalfundsreportpension/OPEBcontributionsasexpenditures.However,they arereportedasdeferredoutflowsofresourcesintheStatementofNetPosition.The changeinthenetpension/OPEBliability,adjustedfordeferreditems,isreportedas pension/OPEBexpenseintheStatementofActivities. Currentyearpension/OPEBcontributions Pension/OPEBexpense 12,233,808 (13,413,488) (1,179,680) SomeexpensesreportedintheStatementofActivitiesdonotrequiretheuseof currentfinancialresourcesand,therefore,arenotreportedasexpendituresin governmentalfunds. Amortizationofdeferredcharges Lossondisposalofassets Amortizationofpremiumsanddiscounts Compensatedabsences (652,392) (30,362) 1,651,186 (1,308,105) (339,673) TheInternalServiceFundsareusedbymanagementtochargethecostofcertain activitiestotheindividualfunds.ThechangesinnetpositionoftheInternalServiceFunds arereportedwithgovernmentalactivitiesintheStatementofActivities. (594,397) Changesinnetpositioningovernmentalactivities $84,255,707 Page 49 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. CityofGoodyear,Arizona StatementofNetPosition ProprietaryFunds June30,2023 Governmental Activities SelfͲInsurance BusinessͲtypeActivities TotalEnterprise TrustInternal Wastewater Water& Sanitation Funds ServiceFund $30,990,756 25,909,580 4,028,316 2,462,481 63,391,133 $4,688,682 269,553 518,192 69,730 5,546,157 $35,679,438 26,179,133 4,546,508 2,532,211 68,937,290 $406,620 8,319,471 153,397  8,879,488 Assets Currentassets: Cash Investments Receivables(netofallowance) Inventories Totalcurrentassets Noncurrentassets: Restrictedcashandinvestments Netpension/OPEBasset Land Artwork Constructioninprogress Infrastructure Buildings Vehicles,furniture,andequipment Waterrights Accumulateddepreciation Totalnoncurrentassets Totalassets 41,447,280  41,447,280  220,299 37,539 257,838  8,359,054  8,359,054  146,978  146,978  9,117,481  9,117,481  369,023,600  369,023,600  172,615,300 150,522 172,765,822  21,073,604 1,880,008 22,953,612  21,088,078  21,088,078  (134,242,676) (1,344,507) (135,587,183)  508,848,998 723,562 509,572,560  572,240,131 6,269,719 578,509,850 8,879,488 Deferredoutflowsofresources Deferredoutflowsrelatedtopensions/OPEB Deferredchargeonrefunding Totaldeferredoutflowsofresources 1,458,148 248,469 1,706,617  2,596,362  2,596,362  4,054,510 248,469 4,302,979  Currentliabilities: Accountspayable Accruedwagesandbenefits Claimspayable Customerdeposits CompensatedabsencesͲcurrentportion LoanspayableͲcurrentportion BondspayableͲcurrentportion Totalcurrentliabilities Noncurrentliabilities: Compensatedabsences Netpension/OPEBliability LoanspayableͲnetofcurrentportion BondspayableͲnetofcurrentportion Totalnoncurrentliabilities Totalliabilities 8,513,874 148,942  43,543,808 452,182 301,588 5,371,371 58,331,765 422,656 20,924  40,320 72,703   556,603 8,936,530 169,866  43,584,128 524,885 301,588 5,371,371 58,888,368 172,297 36,066 802,655     1,011,018 281,169 6,328,632 1,600,863 178,997,417 187,208,081 245,539,846 55,144 1,078,402   1,133,546 1,690,149 336,313 7,407,034 1,600,863 178,997,417 188,341,627 247,229,995      1,011,018 Deferredinflowsofresources Deferredinflowsrelatedtopensions/OPEB Totaldeferredinflowsofresources 309,489 52,737 362,226  309,489 52,737 362,226  Netposition Netinvestmentincapitalassets Restrictedfor: Capitalprojects Debtservice Pensions/OPEB Unrestricted Totalnetposition Page 50 283,954,653 686,023 284,640,676 21,764,979 447,280 220,299 24,058,095 $330,445,306   37,539 4,051,740 $4,775,302 21,764,979 447,280 257,838 28,109,835 7,868,470 $335,220,608 $7,868,470 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. CityofGoodyear,Arizona StatementofRevenues,Expenses,andChangesinFundNetPosition ProprietaryFunds FortheYearEndedJune30,2023 Governmental Activities SelfͲInsurance BusinessͲtypeActivities Water& Wastewater Sanitation TotalEnterprise TrustInternal Funds ServiceFund Operatingrevenues Chargesforservices Selfinsurancepremiums Otherrevenues Totaloperatingrevenues $52,888,693  116,912 53,005,605 $8,791,140 $61,679,833  11,061 127,973 8,802,201 61,807,806 $ 13,066,862 514,081 13,580,943 Operatingexpenses Salaries,wagesandbenefits Costofsalesandservices Claimsexpense Depreciation Totaloperatingexpenses 8,024,000 23,730,447  12,143,862 43,898,309 1,379,818 5,903,636  202,963 7,486,417  2,399,104 11,947,001  14,346,105 Operatingincome(loss) 9,107,296 1,315,784 10,423,080 (765,162) Nonoperatingrevenues(expenses) Investmentincome Interestexpenseandfiscalcharges Gain(loss)onsaleofassets Totalnonoperatingrevenue(expenses) 982,844 110,363 (6,004,740)  40,865 14,386 (4,981,031) 124,749 Income(loss)beforecontributionsandtransfers 4,126,265 1,440,533 5,566,798 (594,397) 9,403,818 29,634,083  12,346,825 51,384,726 1,093,207 170,765 (6,004,740)  55,251  (4,856,282) 170,765 Capitalcontributions Transfersout 7,594,454  7,594,454  (6,280,801) (1,275,200) (7,556,001)  Changesinnetposition 5,439,918 165,333 5,605,251 (594,397) Totalnetposition,beginningofyear 325,005,388 4,609,969 329,615,357 8,462,867 Totalnetposition,endofyear $330,445,306 $4,775,302 $335,220,608 $7,868,470 Page 51 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. CityofGoodyear,Arizona StatementofCashFlows ProprietaryFunds June30,2023 BusinessͲtypeActivities Water& Wastewater Sanitation TotalEnterprise Funds Governmental Activities SelfͲInsurance TrustInternal ServiceFund Increase/DecreaseinCashandCashEquivalents Cashflowsfromoperatingactivities: Cashreceivedfromcustomers Cashreceivedfromcontributions Cashpaymentstosuppliersforgoodsandservices Cashpaymentstoemployees Cashpaymentsforclaims Netcashprovidedby/usedforoperatingactivities $53,533,133 $8,766,578 $62,299,711 $   13,559,109 (20,519,152) (5,840,021) (26,359,173) (2,172,064) (7,692,203) (1,325,909) (9,018,112)     (11,808,013) 25,321,778 1,600,648 26,922,426 (420,968) Cashflowsfrominvestingactivities: Sale(purchase)ofinvestments Investmentincome Netcashprovidedby/usedforinvestingactivities (25,127,004) (74,854) (25,201,858) (8,319,474) 982,844 110,362 1,093,206 170,765 (24,144,160) 35,508 (24,108,652) (8,148,709) Cashflowsfromnoncapitalfinancingactivities: Transfers Netcashprovidedby/usedfornoncapitalfinancingactivities (6,280,801) (1,275,200) (7,556,001)  (6,280,801) (1,275,200) (7,556,001)  Cashflowsfromcapitalandrelatedfinancingactivities: PrincipalpaidonlongͲtermdebt Interestpaid Changesincapitalassets Developmentfees Netcashprovidedby/usedforcapitalandrelatedfinancingactivities (5,447,179)  (5,447,179)  (6,721,261) 14,386 (6,706,875)  (13,774,203)  (13,774,203)  47,928,468  47,928,468  21,985,825 14,386 22,000,211  Netincrease/decreaseincashandcashequivalents 16,882,642 375,342 17,257,984 (8,569,677) Cashandcashequivalents,beginningofyear 55,555,394 4,313,340 59,868,734 8,976,297 Cashandcashequivalents,endofyear $72,438,036 $4,688,682 $77,126,718 $406,620 ReconciliationofOperatingIncome/LosstoNetCashProvidedby/UsedforOperatingActivities Operatingincome/loss $9,107,296 $1,315,784 $10,423,080 $(765,162) Adjustmentstoreconcileoperatingincome/loss tonetcashprovidedby/usedforoperatingactivities: Depreciation/amortization Pension/OPEBexpense Employerpension/OPEBContributions Changesinassetsandliabilities: Increase/decreaseinreceivables Increase/decreaseinprepaiditemsanddeposits Increase/decreaseininventory Increase/decreaseinpayables Increase/decreaseinaccruedliabilitiesanddeposits Totaladjustments Netcashprovidedby/usedforoperatingactivities   12,143,862 202,963 12,346,825  898,769 175,144 1,073,913  (641,419) (109,298) (750,717)   527,528 (35,623) 491,905 (21,834)    73,626 (1,305,281) 49,871 (1,255,410)  3,852,386 (1,826) 3,850,560 277,879 738,637 3,633 742,270 14,523 16,214,482 284,864 16,499,346 344,194 $25,321,778 $1,600,648 $26,922,426 $(420,968) Page 52 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. CityofGoodyear,Arizona StatementofFiduciaryNetPosition FiduciaryFunds June30,2023 PensionTrust Fund Page 53 CustodialFund Assets Cashandcashequivalents Mutualfunds Exchangetradedfunds Totalassets $18,364 69,218 236,034  421,371  675,769 69,218 NetPosition Restrictedfor: Pensions Individualsandorganizations Totalnetposition 675,769   69,218 $675,769 $69,218 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. CityofGoodyear,Arizona StatementofChangesinFiduciaryNetPosition FiduciaryFunds FortheYearEndedJune30,2023 PensionTrust Fund Page 54 CustodialFund Additions Investmentincome Otherincome Totaladditions $56,409 $ 4,178 25,793 60,587 25,793 Deductions Benefits Recipientpayments Totaldeductions 4,926   23,542 4,926 23,542 Changeinnetposition 55,661 2,251 Netposition,beginningofyear 620,108 66,967 Netposition,endofyear $675,769 $69,218 Thenotestothebasicfinancialstatementsareanintegralpartofthisstatement. NotestotheFinancialStatements  The notes to the basic financial statements include a summary of significant accounting policies and other disclosuresconsiderednecessaryforaclearunderstandingoftheaccompanyingfinancialstatements.  Note             Page  1.SummaryofSignificantAccountingPolicies        57  2.CashandInvestments         69  3.Receivables           72  4.CapitalAssets           74  5.Leases           75 6.LoanPayable           76  7.GeneralObligationBondsPayable         77  8.RevenueBondsPayable        78  9.CommunityFacilitiesDistrictsBondsPayable       79  10.ChangesinLongͲTermLiabilities       81  11.InterfundReceivables,Payables,andTransfers       82  12.ContingentLiabilities          82  13.RiskManagement           83  14.PensionsandOtherPostEmploymentBenefits      84  15.ExcessofExpendituresOverAppropriations       96  16.FundBalanceClassifications         96  17.DeficitFundBalances         96 18.Commitments          97  19.TaxAbatementAgreements        98  Page 55          Page 56 Note1SummaryofSignificantAccountingPolicies ThefinancialstatementsoftheCityofGoodyear,Arizona(City)havebeenpreparedinconformitywith accountingprinciplesgenerallyacceptedintheUnitedStatesofAmericaasappliedtogovernmentunits (hereinafter referred to as generally accepted accounting principles (GAAP). The Governmental AccountingStandardsBoard(GASB)istheacceptedstandardͲsettingbodyforestablishinggovernmental accounting and financial reporting principles. The City’s significant accounting policies are described below. For the year ended June 30, 2023, the City implemented the provisions of GASB Statement No 96, SubscriptionͲBased Information Technology Arrangements, which (1) defines a subscriptionͲbased information technology arrangement (SBITA); (2) establishes that a SBITA results in a right to use subscription asset – an intangible asset – and a corresponding subscription liability; (3) provides the capitalizationcriteriaforoutlaysotherthansubscriptionpayments,includingimplementationcostsofa SBITA;and(4)requiresnotedisclosuresregardingaSBITA.ImplementationofGASBNo96didnotimpact theCity’sfinancialstatements. FortheyearendedJune30,2023,theCityimplementedtheprovisionsofGASBStatementNo94,PublicͲ PrivateandPublicͲPublicPartnershipsandAvailabilityPaymentArrangements,whichisanarrangement inwhichagovernment(thetransferor)contractswithanoperator(agovernmentalornongovernmental entity)toprovidepublicservicesbyconveyingcontroloftherighttooperateoruseanonfinancialasset, suchasinfrastructureorothercapitalasset(theunderlyingPPPasset),foraperiodoftimeinanexchange orexchangeͲliketransaction.ImplementationofGASBStatementNo94didnotimpacttheCity’sfinancial statements. A.ReportingEntity The City is a municipal corporation governed by an elected mayor and sixͲmember governing council (Council).AsrequiredbyaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica,these financial statements present the City and its component units, entities for which the government is consideredtobefinanciallyaccountable.InaccordancewithGASBStatementNo.14,andasamendedby GASBStatementNo.61,thecomponentunitsdiscussedbelowhavebeenincludedintheCity’sreporting entitybecauseofthesignificanceoftheiroperationalorfinancialrelationshipwiththecity. 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. Page 57 Note1SummaryofSignificantAccountingPolicies  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. 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. Page 58 Note1SummaryofSignificantAccountingPolicies  C.BasisofPresentationͲFundFinancialStatements ThefundfinancialstatementsprovideinformationabouttheCity’sfunds,includingitsfiduciaryfundsand blendedcomponentunits.Separatestatementsforeachfundcategory–governmental,proprietary,and fiduciary – are presented. The emphasis of fund financial statements is on major governmental and enterprisefunds,eachdisplayedinaseparatecolumn.Allremaininggovernmentalandenterprisefunds areaggregatedandreportedasnonmajorfunds.Fiduciaryfundsareaggregatedandreportedbyfund type. TheCityreportsthefollowingmajorgovernmentalfunds: GeneralFundͲThisfundisthegeneraloperatingfundoftheCity.Itaccountsforallfinancialresourcesof theCity,exceptthoseeitherrequiredtobeaccountedforinotherfundsorwhenthecitydetermines thereisanoperationaladvantagetodoso. NonͲUtilityDevelopmentImpactFeesCapitalProjectsͲThisfundaccountsforthecapitalprojectsfunded withnonͲutilitydevelopmentimpactfees. GOBondCapitalProjectsFundͲThisfundaccountsforthecapitalprojectsfinancedbygeneralobligation bonddebt. McDowellRoadCommercialCorridorImprovementDistrictDebtServiceFundͲThisfundaccountsforthe debtportionoftheMcDowellRoadImprovementDistrict. CommunityFacilitiesDistrictsͲDebtServiceFundͲThisfundaccountsforthedebtportionoftheCity’s CommunityFacilitiesDistricts,whicharecomponentunitsthatprovidegeneralinfrastructureandcapital assetsforthepropertywithineachDistrict’sboundaries. TheCityreportsthefollowingmajorproprietaryfund: WaterandWastewaterFundͲThisfundaccountsfortheCity’swaterandwastewaterutilityoperations, includingtheutilitydevelopmentimpactfees. TheCityreportsthefollowingnonͲmajorproprietaryfunds: SanitationFundͲThisfundisusedtoaccountfortheactivitiesoftheCity’ssanitationoperations. Internal Service Fund – This fund is used to account for selfͲinsurance for employee benefits. The Internal service fund activities are reported as governmental activities on the governmentͲwide statements. 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. Page 59 Note1SummaryofSignificantAccountingPolicies  TheCityreportsthefollowingfiduciaryfunds: PensionTrustFund–ThisfundisusedtoaccountfortheGoodyearVolunteerandReserveFirefighter RetirementTrustPlanFund,adefinedcontributionplanforwhichtheassetsareheldbytheCityina trusteecapacity.ThePensionTrustFundisreportedusingtheaccrualbasisofaccounting. CustodialFund–TheCustodialFundisusedtoreportactivitiesoftheGain,FillͲaͲNeed,ShopwithaCop, andArizonainActionactivities.ThisCustodialFundaccountsforresources,notinatrust,thatareheld bytheCityforotherpartiesoutsideoftheCity’sreportingentity. D.MeasurementFocusandBasisofAccounting Theaccountingandfinancialreportingtreatmentisdeterminedbytheapplicablemeasurementfocusand basisofaccounting.Measurementfocusindicatesthetypeofresourcesbeingmeasuredsuchascurrent financialresourcesoreconomicresources.Thebasisofaccountingindicatesthetimingofrecognitionin thefinancialstatementsofvariouskindsoftransactionsorevents. The governmentͲwide, proprietary and fiduciary fund financial statements are reported using the economicresourcesmeasurementfocusandtheaccrualbasisofaccounting.Revenuesarerecordedwhen earnedandexpensesarerecordedwhenaliabilityisincurred,regardlessofthetimingofrelatedcash flows.Propertytaxesarerecognizedasrevenuesintheyearforwhichtheyarelevied.Grantsandsimilar itemsarerecognizedasrevenuesassoonasalleligibilityrequirementsimposedbythegrantororprovider havebeenmet. The governmental fund financial statements are reported using the current financial resources measurementfocusandthemodifiedaccrualbasisofaccounting.Revenuesarerecognizedassoonas theyarebothmeasurableandavailable.Revenuesareconsideredtobeavailablewhentheyarecollectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose,theCityconsidersrevenuestobeavailableiftheyarecollectedwithin60daysoftheendofthe currentfiscalperiod. Expendituresaregenerallyrecognizedwhenaliabilityisincurred,asunderaccrualaccounting.However, debtservicesprincipalandinterestexpendituresongenerallongͲtermdebt,includingleaseliabilities,as well as expenditures related to compensated absences, and claims and judgments, postemployment benefits are recognized later based on specific accounting rules applicable to each, generally when paymentisdue.Generalcapitalassetacquisitions,includingenteringintocontractsgivingtheCitythe righttouseleasedassets,arereportedasexpendituresingovernmentalfunds.IssuanceoflongͲtermdebt andfinancingthroughleasesarereportedasotherfinancingsources. Page 60 Note1SummaryofSignificantAccountingPolicies Propertytaxes,salestaxes,franchisetaxes,licenses,andinterestassociatedwiththecurrentfiscalperiod areallconsideredtobesusceptibletoaccrualandsohavebeenrecognizedasrevenuesofthecurrent fiscalperiod.Entitlementsarerecordedasrevenueswhenalleligibilityrequirementsaremet,including anytimerequirements,andtheamountisreceivedduringtheperiodorwithintheavailabilityperiodfor thisrevenuesource(within60daysofyearͲend). ExpenditureͲdriven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period or within the availability period for this revenue source (within 60 days of year end). All other revenueitemsareconsideredtobemeasurableandavailableonlywhencashisreceivedbytheCity. E.BudgetaryInformation 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 fiscalyear2023. Themaximumlegalexpenditurepermittedfortheyearisthetotalbudgetasadopted.Allfundsofthe Cityhavelegallyadoptedbudgets.Theinitialbudgetforthefiscalyearmaybeamendedduringtheyear inalegallypermissiblemanner.TheCityadoptsthebudgetbymajorprogramareafortheGeneralFund andbyfundforallothers. 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. Page 61 Note1SummaryofSignificantAccountingPolicies F.Assets,Liabilities,DeferredOutflows/InflowsofResources,andNetPosition/FundBalance 1. CashandCashEquivalents The City’s cash and cash equivalents include cash on hand, demand deposits, shortͲterm investments withoriginal maturitiesofthree monthsorlessfromthedateofacquisition,and amountsheldintrust.ThefundsheldintrustareavailabletotheCityupondemand.TheCity considersshortͲterminvestments(includingrestrictedassets)intheStateofArizonainvestment pool,mutualfundͲmoneymarket,U.S.Treasurybillsandnoteswithmaturitiesofthreemonths orlessatacquisitiondatetobecashequivalents. 2. RestrictedAssets CertainproceedsoftheCity’sbonds,aswellascertainresourcessetasidefortheirrepayment, are classified as restricted cash and investments on the governmentͲwide Statement of Net Position,theBalanceSheetandProprietaryStatementofNetPositionbecausetheiruseislimited by applicable bond covenants. Additionally, certain resources appropriated to the City for a specificprojectbytheStateofArizona,DepartmentofTransportation,areclassifiedasrestricted cashandinvestmentsonthegovernmentͲwideStatementofNetPositionbecausetheiruseis limitedbyanintergovernmentalagreement.TheCityalsorestrictsthecashandinvestmentsin theCommunityFacilitiesDistrictsDebtServiceFund. 3. Investments Investmentswithamaturityoflessthanoneyearwhenpurchased,nonͲnegotiablecertificatesof deposit,andothernonparticipatinginvestmentsarestatedatcostoramortizedcost.Investments withamaturitygreaterthanoneyearwhenpurchasedarestatedatfairvalue.Fairvalueisthe pricethatwouldbereceivedtosellaninvestmentinanorderlytransactionatyearend. Eachfund'sequityininvestmentsrepresentsthatfund'spositionintheconsolidatedaccounts anddeterminesthatfund'sallocationofinterestearned.ArizonaRevisedStatutesregulatethe investment of surplus cash. The City limits its investments to U.S. government securities, certificatesofdeposit,bonds,repurchaseagreements,corporatenotes,commercialpaper,and moneymarketaccounts. 4. InventoryandPrepaidItems InventoriesarevaluedataveragecostusingthefirstͲin,firstͲout(FIFO)flowmethod.Inventory, whichconsistsofexpendablesuppliesandvehiclerepairparts,isrecordedasanexpenditureat thetimeindividualinventoryitemsareconsumedratherthanwhenpurchased. Certain payments to vendors reflect costs applicable to future accounting periods and are recordedasprepaiditemsinboththegovernmentͲwideandfundfinancialstatements.Thecost ofprepaiditemsisrecordedasexpenditureswhenconsumedratherthanwhenpurchased. Page 62 Note1SummaryofSignificantAccountingPolicies 5. CapitalAssets Capitalassetsaretangibleandintangibleassets,whichincludeland,landimprovements,artwork, right of way, streetscape, buildings and improvements, vehicles, machinery, equipment, construction in progress, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or businessͲtype activities columns in the governmentͲwidefinancialstatements.TheCity definescapitalassetsasassetswithan initial, individualcostof$5,000ormoreandanestimatedusefullifeofmorethanoneyear. Capitalassetsarerecordedathistoricalcostifpurchasedorconstructed,exceptforintangible rightͲtoͲuseleaseassets,themeasurementofwhichisdiscussedinnote5.Donatedcapitalassets arerecordedatestimatedacquisitionvalueatthedateofdonation.Acquisitionvalueistheprice that would be paid to acquire an asset with equivalent service potential on the date of the donation.Intangibleassetsfollowthesamecapitalizationpoliciesastangiblecapitalassetsand arereportedwithtangibleassetsintheappropriatecapitalassetclass. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extendthe life oftheasset arenotcapitalized.Majoroutlaysfor capitalassets and improvements are accounted for as construction work in progress until completed. Once completedandputintoservice,projectsarecapitalizedandreportedathistoricalcost(exceptfor intangiblerightͲtoͲuseleaseassets,themeasurementofwhichisdiscussedinnote9below). Land and construction in progress are not depreciated. Artwork or collections presented in buildingsandpublicoutdoorspacesareexpectedtoeitherbemaintainedatcostorappreciate overtime.Thus,artworkisnotdepreciated.Ifindividualpiecesarelostordestroyed,thelossis recorded.Theothertangibleandintangibleproperty,plant,equipment,therighttouseleased equipment,andinfrastructureoftheprimarygovernmentaredepreciated/amortizedusingthe straightͲlinemethodoverthefollowingestimatedusefullives: Assets BuildingsandImprovements LandImprovements Vehicles,FurnitureandEquipment RightͲtoͲuseleasedequipment Infrastructure WaterRights Page 63        Years 7Ͳ50 15 3Ͳ20 5Ͳ20 20Ͳ65 100 Note1SummaryofSignificantAccountingPolicies 6. DeferredOutflows/InflowsofResources In addition to assets, the statement of net position includes a separate section for deferred outflowsofresources.Deferredoutflowsofresourcesrepresentaconsumptionofnetassetsthat applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City has three items that qualify for reporting in this category.ItisthedeferredchargeonrefundingreportedinthegovernmentͲwidestatementof net position, and deferred amounts related to pensions and OPEB. The deferred charge on refunding resulted from the difference between the carrying value of refunded debt and its reacquisition price. The amount is deferred and amortized over the shorter of the life of the refunded or refunding debt. The deferred amounts related to pension and OPEB related differencesbetweenestimatedandactualinvestmentearnings,changesinactuarialassumptions, andotherpensionandOPEBrelatedcharges. In addition to liabilities, the statement of net position reports a separate section for deferred inflowsofresources.Deferredinflowsofresources,representsanacquisitionofnetassetsthat appliestoafutureperiod(s)andsowillnotberecognizedasaninflowofresources(revenue)until thattime.TheCityhasthreeitemsthatqualifyforreportinginthiscategory.Unavailablerevenue is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from four sources: property taxes, special assessments, other and intergovernmental.Theseamountsaredeferredandrecognizedasaninflowofresourcesinthe periodthattheamountsbecomeavailable.InthegovernmentͲwidefinancialstatementstheCity reportsdeferredamountsrelatedtoleasesanddeferredamountsrelatedtopensionandOPEB. 7. NetPosition  ForgovernmentͲwidereportingaswellasinproprietaryfunds,thedifferencebetweenassetsand deferred outflow of resources less liabilities and deferred inflows of resources is called net position. Net position is comprised of three components: net investment in capital assets, restrictedandunrestricted. x Net investment in capital assets consists of capital assets, net of accumulated depreciation/amortizationandreducedbyoutstandingbalancesofbonds,notes,and otherdebtthatareattributabletotheacquisition,construction,orimprovementofthose assets. Deferred outflows of resources and deferred inflows of resources that are attributabletotheacquisition,construction,orimprovementofthoseassetsorrelated debtareincludedinthiscomponentofnetposition. x Restricted net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets. Assets are reported as restricted when constraints are placed on assets use either by external parties or by law through constitutionalprovisionorenablinglegislation. x Unrestrictednetpositionisthenetamountoftheassets,deferredoutflowofresources, liabilities,anddeferredinflowsofresourcesthatdoesnotmeetthedefinitionofthetwo precedingcategories. Page 64 Note1SummaryofSignificantAccountingPolicies Sometimes the City will fund outlays for a particular purpose from both restricted and unrestrictedresources.Inordertocalculatetheamountstoreportasrestrictednetpositionand unrestrictednetpositioninthegovernmentͲwideandproprietaryfundfinancialstatements,a flow assumption must be made about the order in which the resources are considered to be applied.ItistheCity’spolicytoconsiderrestrictednetpositiontohavebeendepletedbefore unrestrictednetpositionisapplied. 8. FundBalance Ingovernmentalfundtypes,thedifferencebetweenassetsanddeferredoutflowsofresources lessliabilitiesanddeferredinflowsofresourcesiscalled“fundbalance.”TheCity’sgovernmental funds report the following categories of fund balance, based on the nature of any limitations requiringtheuseofresourcesforspecificpurposes. x x NonspendableͲamountsthatcannotbespenteitherbecausetheyareinnonspendable formorbecausetheyarelegallyorcontractuallyrequiredtoberemainintact.  Restricted Ͳ amounts that can be spent only for the specific purposes stipulated by externalresourceproviderssuchasgrantors,orbyconstitutionalprovisions,orenabling federal, state, or local legislation. Restriction may be changed or lifted only with the consentoftheresourceprovider.  x Committed Ͳ amounts that can be used only for specific purposes determined by the adoptionofanordinancecommitting fundbalanceforaspecifiedpurposebytheCity Councilpriortotheendofthefiscalyear.Onceadopted,thelimitationimposedbythe ordinanceremainsinplaceuntiltheresourceshavebeenspentforthespecifiedpurpose ortheCounciladoptsanotherordinancetoremoveorrevisethelimitation. x AssignedͲamountsthatareintendedtobeusedbytheCityforspecificpurposesbutdo notmeet thecriteriato beclassifiedascommitted.OnlytheCityCouncilortheCity’s Finance Director may assign amounts for specific purposes. Under the City’s adopted policy,theCityappropriatesfundingforinformationtechnology(IT)replacement,fleet replacement,riskmanagement,policeandfireequipment,parksandtrafficsignalasset managementreserves.Inaddition,amountsencumberedrelatedtoprojectsthatcarry overintothenextfiscalyeararereportedasassigned.Theaccumulatedappropriations forthesepurposeswhichhavenotbeenspentarereflectedasassignedfundbalances. x Unassigned Ͳ residual amounts for the general fund that is not contained in other classifications.Thegeneralfundistheonlyfundthatreportsapositiveunassignedfund balance.Additionally,anydeficitfundbalancewithintheothergovernmentalfundtypes isreportedasunassigned.  Page 65 Note1SummaryofSignificantAccountingPolicies The City’s general fund has unassigned funds consisting of a contingency reserve. The contingency reserve is used to set aside resources to cover unanticipated deficits or revenue reductions that may be caused by adverse economic conditions or public emergency.Theamountofthecontingencyreserveisequaltoorgreaterthan15percent offiscalyear2023onͲgoingrevenues. Aspreviouslymentioned,sometimestheCitywillfundoutlaysforaparticularpurposefromboth restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassignedfundbalanceinthegovernmentalfundfinancialstatements,aflowassumptionmust bemadeabouttheorderinwhichtheresourcesareconsideredtobeapplied.ItistheCity’spolicy to consider restricted funds to have been depleted before using any of the components of unrestrictedfundbalance.Whenanexpenditureisincurredforwhichcommitted,assigned,or unassignedfundbalancesareavailable,theCityconsidersamountstohavebeenspentfirstout ofcommittedfunds,thenassignedfunds,andfinallyunassignedfunds,asneeded,unlessCity CouncilortheCity’sFinanceDirectorhasprovidedotherwiseinitscommitmentorassignment actions. 9. Leases Lessee:TheCityisalesseeforanoncancellableleasefortheuseofparkingandstorageareas. TheCityrecognizesaleaseliabilityandanintangiblerightͲtoͲuseleaseasset(leaseasset)inthe governmentͲwide financial statements. The City recognizes lease liabilities with an initial, individualvalueof$5,000ormore. Atthecommencementofalease,theCityinitiallymeasurestheleaseliabilityatthepresentvalue of payments expected to be made during the lease term. Subsequently, the lease liability is reducedbytheprincipalportionofleasepaymentsmade.Theleaseassetisinitiallymeasuredas theinitialamountoftheleaseliability,adjustedforleasepaymentsmadeatorbeforethelease commencementdate,pluscertaininitialdirectcosts.Subsequently,theleaseassetisamortized onastraightͲlinebasisoveritsusefullife. KeyestimatesandjudgmentsrelatedtoleasesincludehowtheCitydetermines(1)thediscount rateitusestodiscounttheexpectedleasepaymentstopresentvalue,(2)leaseterm,and(3)lease payments. x The City uses the interest rate charged by the lessor as the discount rate. When the interestratechargedbythelessorisnotprovided,theCitygenerallyusesitsestimated incrementalborrowingrateasthediscountrateforleases. x Theleasetermincludesthenoncancellableperiodofthelease.Leasepaymentsincluded inthemeasurementoftheleaseliabilityarecomposedoffixedpaymentsandpurchase optionpricethattheCityisreasonablycertaintoexercise. TheCitymonitorschangesincircumstancesthatwouldrequirearemeasurementofitsleaseand will remeasure the lease asset and liability if certain changes occur that are expected to significantlyaffecttheamountoftheleaseliability. Page 66 Note1SummaryofSignificantAccountingPolicies Leaseassetsarereportedwithothercapitalassetsandleaseliabilitiesarereportedwithlongterm debtonthestatementofnetposition. Lessor: The City is a lessor for a noncancellable lease of a licensed areas, fiber optic communicationssystems,andcertainbuildingsandcommonareasattheGoodyearMunicipal Complex. The City recognizes a lease receivable and a deferred inflow of resources in the governmentͲwideandgovernmentalfundfinancialstatements. Atthecommencementofalease,theCityinitiallymeasurestheleasereceivableatthepresent value of payments expected to be received during the lease term. Subsequently, the lease receivableisreducedbytheprincipalportionofleasepaymentsreceived.Thedeferredinflowof resourcesisinitiallymeasuredastheinitialamountofthelease receivable,adjustedforlease paymentsreceivedatorbeforetheleasecommencementdate.Subsequently,thedeferredinflow ofresourcesisrecognizedasrevenueoverthelifeoftheleaseterm. Keyestimatesandjudgmentsinclude howtheCitydetermines (1)the discountrateitusesto discounttheexpectedleasereceiptstopresentvalue,(2)leaseterm,and(3)leasereceipts. • TheCityusesitsestimatedincrementalborrowingrateasthediscountrateforleases. • Theleasetermincludesthenoncancellableperiodofthelease.Leasereceiptsincludedin themeasurementoftheleasereceivableiscomposedoffixedpaymentsfromthelessee. TheCitymonitorschangesincircumstancesthatwouldrequirearemeasurementofitslease,and willremeasuretheleasereceivableanddeferredinflowsofresourcesifcertainchangesoccur thatareexpectedtosignificantlyaffecttheamountoftheleasereceivable. 10. ReceivablesandPayables Activitybetweenfundsthatarerepresentativeoflending/borrowingarrangementsoutstanding at the end of fiscal year are referred to as either “due to/from other funds” (i.e., the current portionofinterͲfundloans)or“advancesto/fromotherfunds”(i.e.,thenonͲcurrentportionof theinterͲfundloans). All trade and property tax receivables are shown net of allowance for uncollectibles. Trade accountsreceivableinexcessof180dayscomprisethetradeaccountsreceivablesallowancefor uncollectibles. PropertytaxesareleviedbytheCityandcollectedbytheMaricopaCountyTreasurer.Property taxesareleviednolaterthanthethirdMondayofAugustandarepayableintwoinstallmentsdue October1ofthecurrentyearandMarch1ofthesubsequentyear.Taxesbecomedelinquentafter thefirstbusinessdayofNovemberandMay,respectively.Interestattachesoninstallmentsafter the delinquent date. A lien attaches to the property on the first day of January preceding the assessment and levy of taxes. Delinquent amounts bear interest at the rate of 16 percent. MaricopaCounty,atnochargetothetaxingentities,billsandcollectsallpropertytaxes.Public auctionsofpropertieswhichhavedelinquentrealestatetaxesareheldinFebruary. Page 67 Note1SummaryofSignificantAccountingPolicies 11. CompensatedAbsences TheCity’semployeevacationandsickleavepoliciesprovideforgrantingvacationandsickleave withpay.Sickleaveandvacationbenefitsvestattheemployee’scurrentrateofpay.Thecurrent andlongͲtermliabilitiesforaccumulatedvacationandsickleavearereportedonthegovernmentͲ widefinancialstatementsandintheproprietaryfundfinancialstatements.Aliabilityforthese amountsisreportedingovernmentalfundsonlyiftheyhavematured,forexample,asaresultof employee leave, resignation and retirements. Resources from the General Fund are generally usedtoliquidatethegovernmentalfundsliabilitiesforcompensatedabsences. 12. InterͲfundActivity Flowsofcashfromonefundtoanotherwithoutarequirementforrepaymentarereportedas interͲfund transfers. InterͲfund transfers between governmental funds are eliminated in the StatementofActivities.InterͲfundservicesprovidedandusedarenoteliminatedintheprocess of consolidation. InterͲfund transfers in the fund statements are reported as other financing sources/usesingovernmentalfundsandfallbelowthenonͲoperatingrevenues/expensesinthe proprietaryfunds. 13. PensionsandOtherPostemploymentBenefits Forpurposesofmeasuringthenetpensionandotherpostemploymentbenefit(OPEB)assetsand liabilities,relateddeferredoutflowsofresourcesanddeferredinflowsofresources,andrelated expenses,informationaboutthepensionandOPEBplans’fiduciarynetpositionandadditions to/deductionsfromtheplans’fiduciarynetpositionhavebeendeterminedonthesamebasisas theyarereportedbytheplan.Forthispurpose,benefitpayments(includingrefundsofemployee contributions) are recognized when due and payable in accordance with the benefit terms. Investmentsarereportedatfairvalue. 14. LongͲtermObligations In the governmentͲwide financial statements and proprietary fund financial statements, longͲ term debt and other longͲterm obligations are reported as liabilities on the statement of net position.BondpremiumsanddiscountsareamortizedoverthelifeofthebondsusingthestraightͲ line method. Deferred amounts on refunding result from the difference between the carrying valueofrefundeddebtanditsreacquisitionprice.Thisamountisdeferredandamortizedover theshorterofthelifeoftherefundedorrefundingdebt. In the fund financial statements, governmental fund types recognize bond premiums and discounts,aswellasbondissuance costs,duringthecurrent period.Thefaceamountofdebt issuedisreportedasotherfinancingsources.Premiumsreceivedondebtissuancesarereported asotherfinancingsourceswhilediscountsondebtissuancesarereportedasotherfinancinguses. Issuancecosts,whetherornotwithheldfromtheactualdebtproceedsreceived,arereportedas debtserviceexpenditures. 15. Estimates Thepreparationof thefinancialstatements inconformitywithaccountingprinciplesgenerally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.Actualresultsmaydifferfromthoseestimates. Page 68 Note1SummaryofSignificantAccountingPolicies 16. MiscellaneousDisclosures PursuanttoA.R.S.35Ͳ391(B)theCityshalldiscloseinitsannualfinancialreporttheamountofany reward,discount,incentive,orotherfinancialconsiderationreceivedbythegovernmententity resultingfromcreditcardpayments.TheCityreceived$39,159incardrebatesduringtheyear. Note2CashandInvestments 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”. ItisthepolicyoftheCitytomaintainthemaximumsafetyofprincipal,maintainliquiditytomeetcash flowneeds,andprovidethehighestinvestmentreturns. OnJune30,2023,cashandcashequivalentsarepresentedasfollows: Cashandcashequivelants Restrictedcashandcashequivelants Total Governmental Activities $204,425,845 15,521,460 $219,947,305 BusinessActivities $35,679,438 41,447,280 $77,126,718 Fiduciary Funds $87,582 $87,582 Total $240,192,865 56,968,740 $297,161,605  The restricted cash and cash equivalents are proceeds from debt issuances that are held in trustee accountsforthepurposeofmajorcapitalimprovements,fundsheldintrusteeaccountsforthepurpose ofdebtservicepayments,amountsreceivedfromtheStateofArizona,DepartmentofTransportationfor aspecificproject,andcashandcashequivalentsintheCommunityFacilitiesDistrictsDebtServiceFund. AtJune30,2023,theCityhad$11,550ofcashonhand.ThecarryingamountoftheCity’scashinbank totaled$5,594,337,andthebankbalancewas$7,936,118.Ofthebankbalance,$250,000wascoveredby federaldepositoryinsurance,$7,372,195wascoveredbytheStatewidePooledCollateralProgram,and $443,570weresecuritiesheldbythepledgingfinancialinstitution’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, 2023 was $1.00. The Arizona State Treasurer issues a publicly available financialreportthatincludesfinancialstatementsandrequiredsupplementaryinformation.Copiesmay beobtainedbycontactingtheArizonaStateTreasurer,1700WestWashington,Phoenix,Arizona85007 orwww.aztreasury.gov. Page 69 Note2CashandInvestments FundsheldintheStateTreasurer’sLocalGovernmentInvestmentPoolrepresentaproportionateinterest inthepool’sportfolio;however,theCity’sportionisnotidentifiedwithspecificinvestmentsandisnot subjecttocustodialcreditrisk.AtJune30,2023,theCity’sfundsinvestedwiththeStateTreasurertotaled $245,992,698. TheCity’sinvestmentintheStateofArizona’slocalgovernmentinvestmentpoolisstatedatfairvalue whichalsoapproximatesthevalueoftheinvestmentuponwithdrawal.  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). OnJune30,2023,theCity’sinvestmentsincludedthefollowing:    InvestmentType Total   $114,929,719  U.S.Treasuries FederalAgencySecurities  5,819,475  CorporateNotes 60,198,107 NegotiableCertificatesof  Deposit 8,406,288  MoneyMarketFund 49,980,142   MutualFunds 672,313   $240,006,045  Total  Page 70   RemainingMaturity(inYears) More  Concentration Lessthan1  1to2  than2 ofCreditRisk $19,225,648  $50,134,758  $45,569,312 48% 3,237,435  2,582,040   2% 2,290,689  28,311,420  29,595,998 25% 3,548,206  49,980,142  672,313  $78,954,434  1,324,738  3,533,344     $82,352,957  $78,698,654 4% 21% 0% 100% Note2CashandInvestments OnJune30,2023,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.AsofJune30,2023,theaveragedurationtomaturityis1.90years. 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 71 Note3Receivables Amounts,otherthanleasesreceivable,netofallowanceforuncollectibles,asofyearͲendfortheCity’s individualmajorgovernmentalfundsandnonͲmajorgovernmentalfundsintheaggregateareasfollows:  AsofJune30,2023,thespecialassessmentandnotesreceivablebalancesarenotexpectedtobecollected within the next year. Special assessment receivables will be collected in conjunction with the debt retirementschedulefortherelatedbondsoutstanding.Thenotesreceivablematurein2044andaccrue interestat3.26percentannum. ThefollowingtablesummarizestheCity’sreceivablesfortheproprietaryfundsasofJune30,2023.  Revenues of the Water & Wastewater Fund, Sanitation and Ambulance Fund are reported net of uncollectible amounts. Total bad debt expense related to the Water & Wastewater Fund revenues, SanitationFundrevenues,andAmbulanceFundrevenuesforthecurrentyearare$125,927,$34,698,and $222,673respectively. Page 72 Note4CapitalAssets AsummaryofcapitalassetsactivityforthefiscalyearendedJune30,2023follows: Beginning Balance Increase Decrease Ending Balance $36,219,456 371,129 78,684,688 90,875,981 9,061,008 215,212,262 $3,494,072 637,042 33,756,812 105,270 Ͳ 37,993,196 $Ͳ Ͳ 72,563,503 Ͳ Ͳ 72,563,503 $39,713,528 1,008,171 39,877,997 90,981,251 9,061,008 180,641,955 34,950,993 425,163,772 343,706,074 69,747,378 94,775 873,662,992 46,762 18,101,905 66,489,228 8,937,878 Ͳ 93,575,773 Ͳ Ͳ Ͳ 1,525,273 1,525,273 34,997,755 443,265,677 410,195,302 77,159,983 94,775 965,713,492 (3,329,712) (162,109,088) (108,186,764) (42,966,207) (19,365) (316,611,135) (2,437,180) (10,000,231) (11,824,539) (5,618,943) (21,061) (29,901,954) Ͳ Ͳ Ͳ 1,494,911 Ͳ 1,494,911 (5,766,892) (172,109,320) (120,011,303) (47,090,238) (40,426) (345,018,178) Totalcapitalassets,beingdepreciated,net Governmentalactivitiescapitalassets,net 557,051,857 $772,264,120 63,673,818 $101,667,014 30,362 $72,593,865 620,695,314 $801,337,269 BusinessͲtypeactivities: Beginning Balance Increase Decrease Ending Balance Governmentalactivities: Capitalassets,notbeingdepreciated: Land Artwork Constructioninprogress Rightofway Streetscape Totalcapitalassets,notbeingdepreciated Capitalassets,beingdepreciated: Landimprovements Infrastructure Buildingsandimprovements Vehicles,furnitureandequipment RighttouseͲasset Totalcapitalassets,beingdepreciated Lessaccumulateddepreciationfor: Landimprovements Infrastructure Buildingsandimprovements Vehicles,furnitureandequipment RighttouseͲasset Totalaccumulateddepreciation  Capitalassets,notbeingdepreciated: Land Artwork Constructioninprogress Totalcapitalassets,notbeingdepreciated Capitalassets,beingdepreciated: Infrastructure Buildingsandimprovements Vehicles,furnitureandequipment Waterrights Totalcapitalassets,beingdepreciated Lessaccumulateddepreciationfor: Infrastructure Buildingsandimprovements Vehicles,furnitureandequipment Waterrights Totalaccumulateddepreciation $8,155,895 146,978 123,940,030 132,242,903 $203,159 Ͳ 8,360,805 8,563,964 $Ͳ Ͳ 123,183,354 123,183,354 $8,359,054 146,978 9,117,481 17,623,513 241,889,244 172,765,821 21,125,055 21,088,078 456,868,198 127,134,438 Ͳ 2,005,090 Ͳ 129,139,529 Ͳ Ͳ 176,532 Ͳ 176,532 369,023,682 172,765,821 22,953,613 21,088,078 585,831,194 (68,731,932) (38,992,975) (12,872,355) (2,780,625) (123,377,887) (5,896,311) (5,053,842) (1,206,198) (190,472) (12,346,824) Ͳ Ͳ 137,527 Ͳ 137,527 (74,628,243) (44,046,817) (13,941,026) (2,971,097) (135,587,183) Totalcapitalassets,beingdepreciated,net BusinessͲtypeactivitiescapitalassets,net 333,490,311 $465,733,214 116,792,705 $125,356,669 39,005 $123,222,359 450,244,011 $467,867,524 467,867,524  Page 73 Note4CapitalAssets  Depreciationandamortizationexpensewerechargedtofunctions/programsasfollows:  Governmentalactivities: Generalgovernment Publicsafety Highwayandstreets Cultureandrecreation Publicworks Totaldepreciationexpense Note5Leases BusinessͲtypeactivities: $2,761,589 4,002,765 15,097,985 6,588,755 1,450,860 $29,901,954 Waterandwastewater Sanitation Totaldepreciationexpense $12,143,861 202,963 $12,346,824 (12,346,824) Ͳ  Leasereceivable OnJuly2,2021,theCityenteredintoa192ͲmonthleaseaslessorfortheuseofthePark,Ride,&Bullard WashSites.Aninitialleasereceivablewasrecordedintheamountof$3,668,998.AsofJune30,2023,the valueoftheleasereceivableis$ 3,369,115.Thelesseeisrequiredtomakemonthlyfixedpaymentsof $18,227.Theleasehasaninterestrateof2.0680%.Thevalueofthedeferredinflowofresourcesasof June30,2023was$ 3,226,912.TheCityrecognizedleaserevenueof$228,994and$71,377ininterest revenueduringthecurrentfiscalyearrelatedtothislease. On July 1, 2021, the City entered into a 45Ͳmonth lease as lessor for the use of Fiber Optic Communications.Aninitialleasereceivablewasrecordedintheamountof$85,639.AsofJune30,2023, thevalueoftheleasereceivableis$28,737.ThevalueofthedeferredinflowofresourcesasofJune30, 2023was$45,611.TheCitywillreceiveannualfixedpaymentsof$28,994.Theleasehasaninterestrate of0.8930%.Thelesseehas3extensionoption(s),eachfor60months.TheCityrecognizedleaserevenue of$22,837and$511ininterestrevenueduringthecurrentfiscalyearrelatedtothislease. OnNovember1,2021,theCityenteredintoa120ͲmonthleaseaslessorfortheuseoftheFranklinPierce UniversityLease.Aninitialleasereceivablewasrecordedintheamountof$3,335,215.AsofJune30, 2023,thevalueoftheleasereceivableis$2,683,967.Citywillreceivemonthlypaymentsrangingbetween $23,563toof$33,632overthelifeofthelease.Theleasehasaninterestrateof1.6040%.Thelesseehas a termination period of 60 months as of the lease commencement date. The lease was amended in FY2023,whichresultedintheCityrecognizingleaserevenueof$482,326and$45,161ininterestrevenue during the current fiscal year. The value of the deferred inflow of resources as of June 30, 2023 was $2,657,408. Page 74 Note5Leases ThefutureprincipalandinterestleasereceivablesasofJune30,2023,wereasfollows: PrincipalandInterestExpectedtoMaturity FiscalYear 2024 2025 2026 2027 2028 2029Ͳ2033 2034Ͳ2038 GovernmentalActivities PrincipalPayments InterestPayments TotalPayments $430,098 $109,749 $539,847 432,968 102,059 535,027 465,318 94,066 559,384 498,433 85,497 583,930 532,331 76,339 608,670 2,467,722 231,789 2,699,511 1,254,949 55,955 1,310,904   Leasepayable  OnJuly1,2021,theCityenteredintoa54ͲmonthleasefortheuseofCalleDelPuebloParkingand StorageFacility.Aninitialleaseliabilitywasrecordedintheamountof$94,775.AsofJune30,2023,the valueoftheleaseliabilitywas$60,627.TheCityisrequiredtomakemonthlypaymentsrangingfrom $1,250to$2,250overthelifeofthelease.Theleasehasaninterestrateof1.0590%.Thevalueofthe righttouseassetasofJune30,2023was$94,775withaccumulatedamortizationof$40,426.  ThefutureprincipalandleasepaymentsasofJune30,2023,wereasfollows:  AmountofLeaseAssetsbyMajorClassesofUnderlyingAsset AsofFiscalYearͲend LeaseAsset Accumulated AssetClass Value Amortization Infrastructure $94,775 $40,426 TotalLeases 94,775 40,426 PrincipalandInterestRequirementstoMaturity GovernmentalActivities Principal Interest Total FiscalYear Payments Payments Payments 2024 $21,960 $540 $22,500 2025 25,209 291 25,500 2026 13,458 42 13,500  Page 75 Note6LoanPayable TheCityreceivedaloanfromtheWaterInfrastructureFinanceAuthority.Theloanwasusedforexpansion ofaneffluentwastewaterfacilityandtorehabilitateanexistingeffluentliftstation.Theloanpayableon June30,2023,isasfollows:  AnnualdebtservicerequirementstomaturityontheloanpayableonJune30,2023issummarizedas follows: FiscalYear EndingJune30, 2024 2025 2026 2027 2028 2029Ͳ2033 2034Ͳ2038 2039Ͳ2043 2044Ͳ2048 2049Ͳ2053 Principal $301,588 307,619 313,772 320,047 326,448 332,977 Ͳ Ͳ Ͳ Interest $38,050 32,018 25,864 19,590 13,188 6,660 Ͳ Ͳ Ͳ $1,902,451 $135,370   Note7GeneralObligationBondsPayable  BondspayableonJune30,2023,consistedoftheoutstandinggeneralobligationandrefundingbonds presentedbelow.ThebondsaregenerallycallablewithinterestpayablesemiͲannually.Ofthetotal amountsoriginallyauthorized,$40,645,000remainsunissued.ThebondspayableonJune30,2023,are presentedbelow. Purpose Governmentalactivities: GeneralObligationBondsRefundingSeries2016 GeneralObligationBondsSeries2017 GeneralObligationBondsSeries2019 GeneralObligationBondsSeries2021 GeneralObligationBondsSeries2022 Totalgovernmentalactivities BusinessͲtypeactivities: GeneralObligationBondsRefundingSeries2016 GeneralObligationBondsRefundingSeries2019 GeneralObligationBondsRefundingSeries2020 TotalbusinessͲtypeactivities Total InterestRates Remaining Maturities Outstanding Principal June30,2023 DueWithin OneYear 2.00Ͳ4.00% 3.00Ͳ5.00% 2.00Ͳ3.00% 3.00Ͳ5.00% 4.00Ͳ5.00% 7/1/23Ͳ37 7/1/27Ͳ37 7/1/24Ͳ38 7/1/23Ͳ40 7/1/23Ͳ41 $9,200,360 19,275,000 23,055,000 33,085,000 22,430,000 $107,045,360 $1,718,629 Ͳ 970,000 985,000 2,840,000 $6,513,629 2.00Ͳ4.00% 3.00Ͳ5.00% 3.00Ͳ5.00% 7/1/23Ͳ37 7/1/27Ͳ29 7/1/23Ͳ30 $23,454,640 4,105,000 6,735,000 34,294,640 $141,340,000 $2,471,371 Ͳ 830,000 3,301,371 $9,815,000  Page 76 Note7GeneralObligationBondsPayable  AnnualdebtservicerequirementstomaturityongeneralobligationbondspayableonJune30,2023,are summarizedasfollows: FiscalYear EndingJune30, 2024 2025 2026 2027 2028 2029Ͳ2033 2034Ͳ2038 2039Ͳ2043 2044Ͳ2048 2049Ͳ2053 Note8RevenueBondsPayable GovernmentalActivities Principal Interest $6,513,629 $3,951,975 7,757,327 3,682,429 4,619,262 3,342,586 4,822,406 3,150,717 5,012,547 2,959,644 28,127,662 11,734,898 33,767,528 6,097,201 16,425,000 878,350 Ͳ Ͳ Ͳ Ͳ $107,045,362 $35,797,800 BusinessͲTypeActivities Principal Interest $3,301,371 $1,288,188 3,412,672 1,164,432 3,550,739 1,027,926 3,932,594 885,896 3,577,453 722,618 10,267,339 1,787,216 6,252,472 478,096 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $34,294,640 $7,354,372  Revenue bonds payable on June 30, 2023, 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.  Page 77 Note8RevenueBondsPayable Revenuebonddebtservicerequirementstomaturityareasfollows: GovernmentalActivities FiscalYear EndingJune30, 2024 2025 2026 2027 2028 2029Ͳ2033 2034Ͳ2038 2039Ͳ2043 2044Ͳ2048 2049Ͳ2053 Principal $8,750,000 8,925,000 9,150,000 9,400,000 10,025,000 36,605,000 Ͳ Ͳ Ͳ Ͳ $82,855,000 PledgedRevenue Interest $2,786,528 2,601,250 2,384,512 2,142,296 1,873,253 3,048,871 Ͳ Ͳ Ͳ Ͳ $14,836,710 DirectBorrowings orDirectPlacements Principal Interest $1,115,000 $155,239 1,155,000 118,333 1,190,000 80,102 1,230,000 40,713 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $4,690,000 $394,387 BusinessͲTypeActivities Principal $2,070,000 2,180,000 2,245,000 2,615,000 2,970,000 18,335,000 24,465,000 33,430,000 38,155,000 8,635,000 $135,100,000 Interest $5,168,118 5,081,933 5,022,781 4,926,267 4,811,615 21,872,281 17,741,711 12,036,902 5,302,690 284,480 $82,248,777  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 imposes and collects, and all state shared sales and income taxes and state revenueͲsharing collectedandallocatedorapportioned,noworthereafter.Excisetaxdoesnotincluderevenue from development fees or building permit fees. The last scheduled debt service payment occurringon7/1/2027.Proceedsofthebondswereusedtorefundinadvanceofmaturitythe MunicipalFacilitiesRevenueRefundingBonds,Series2011A.Principalandinterestpaidforthe currentyearandtotalpledgedrevenueswere$4,955,309and$160,955,757,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$7,276,428and$21,251,158,respectively. Page 78 Note8RevenueBondsPayable 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$6,183,963and$160,955,757,respectively. C. McDowellRoadCorridorImprovementDistrictBonds TheCityactsasanadministratorfortheMcDowellRoadCorridorImprovementDistrictwhereby itcollectstheassessmentsleviedagainstownersofpropertywithintheestablisheddistrictand disburses the amounts collected to retire the bonds issued to finance infrastructure improvements.Thelastscheduleddebtservicepaymentonthebondis1/1/2031.OnJune30, 2023,thespecialassessmentsreceivable,togetherwithamountspaidinadvanceandinterestto bereceivedoverthelifeoftheassessmentperiod,isadequateforthescheduledmaturitiesof thebondspayableandtherelatedinterest.Principalandinterestpaidforthecurrentyearand totalrevenuesavailabletoservicethedebtwere$3,896,225and$3,130,498,respectively. TheMcDowellRoadCorridorImprovementDistrictbondsarecollateralizedbypropertieswithin thedistrict.Intheeventofdefaultbythepropertyowner(s),theCitymayenforceanauctionsale tosatisfythedebtservicerequirementsoftheimprovementbonds.TheCityiscontingentlyliable onthebondstotheextentthatproceedsfromauctionsalesareinsufficienttoretireoutstanding bonds. 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. CommunityfacilitiesdistrictbondspayableonJune30,2023,consistedofoutstandinggeneralobligation andspecialassessmentbonds.Thebondsaregenerallycallablewithinterestpayablesemiannually.  On February 2, 2023, the Estrella Mountain Ranch Community Facilities District, Lucero Assessment DistrictNo.2issuedspecialassessmentrevenuebondswithaparamountof$4,429,000andcouponrates between4.00and5.75percent.Thenetproceedsof$4,351,492includedanunderwriter’sdiscountof $77,508.CostsofIssuanceof$159,000werefundedwithMajorLandownerContributions.Thespecial assessmentrevenuebondswereissuedtoconstructroad,waterline,sewersystem,andwatersystem improvements. Page 79 Note9CommunityFacilitiesDistrictsBondsPayable CommunityfacilitiesdistrictbondspayableonJune30,2023,arepresentedasfollows. Purpose GeneralDistrictNo.1: GeneralObligationRefundingBonds,Series2013 PalmValley: GeneralObligationRefundingBonds,Series2016 UtilitiesDistrictNo.1: GeneralObligationRefundingBonds,Series2014 GeneralObligationRefundingBonds,Series2015 GeneralObligationRefundingBonds,Series2016 WildflowerRanchDistrict2: GeneralObligationBonds,Series2000 GeneralObligationBonds,Series2001 EstrellaMountainRanch: SpecialAssessmentRevenueBonds,Series2015M2 SpecialAssessmentRevenueBonds,Series2015M3 GeneralObligationRefundingBonds,Series2017 Series2019Lucero Series2023Lucero2 Total Directplacements: Centerra: GeneralObligationRefundingBonds,Series2016 GeneralObligationBonds,Series2016 Cortina: GeneralObligationRefundingBonds,Series2017 Cottonflower: GeneralObligationRefundingBonds,Series2017 EstrellaMountainRanch: SpecialAssessmentRevenueRefundingBonds Series2018DesertVillage Series2018GolfVillage Series2018GolfVillage2 Series2018Montecito2 Totaldirectborrowingsordirectplacements Total Remaining Maturities OutstandingPrincipal June30,2023 DueWithin OneYear 5.00% 7/15/23Ͳ7/15/28 $4,360,000 $875,000 3.00Ͳ4.00% 7/15/23Ͳ7/15/32 3,725,000 370,000 4.00% 3.00Ͳ4.125% 4.00% 7/15/23Ͳ7/15/28 7/15/23Ͳ7/15/29 7/15/23Ͳ7/15/32 6,235,000 3,935,000 13,520,000 1,150,000 330,000 725,000 7.00% 5.90% 7/15/23Ͳ7/15/25 7/15/23Ͳ7/15/26 110,000 150,000 55,000 50,000 2.50Ͳ5.00% 1.90Ͳ3.75% 3.25Ͳ5.00% 2.60Ͳ4.75% 4.00Ͳ5.75% 7/1/23Ͳ7/1/39 7/1/23Ͳ7/1/46 7/1/23Ͳ7/1/32 7/1/23Ͳ7/1/43 7/1/23Ͳ7/1/46 3,717,000 570,000 6,985,000 6,141,000 4,429,000 53,877,000 160,000 15,000 840,000 212,000 109,000 4,891,000 2.70% 2.70% 7/15/23Ͳ7/15/31 7/15/23Ͳ7/15/31 1,742,000 304,000 209,000 16,000 3.18% 7/15/23Ͳ7/15/31 1,230,000 135,000 2.92% 7/15/23Ͳ7/15/28 1,000,000 185,000 3.15% 2.81% 3.67% 3.75% 7/1/23Ͳ7/1/26 7/1/23Ͳ7/1/24 7/1/23Ͳ7/1/30 7/1/23Ͳ7/1/31 709,000 173,000 2,807,000 3,341,000 11,306,000 $65,183,000 291,000 173,000 427,000 412,000 1,848,000 $6,739,000 InterestRates  CommunityFacilitiesDistrictbondsdebtservicerequirementstomaturityareasfollows: FiscalYear EndingJune30, 2024 2025 2026 2027 2028 2029Ͳ2033 2034Ͳ2038 2039Ͳ2043 2044Ͳ2048 2049Ͳ2053 Principal $4,891,000 5,092,000 5,240,000 5,395,000 5,240,000 19,163,000 4,136,000 3,690,000 1,030,000 Ͳ $53,877,000 GovernmentalActivities DirectBorrowings/Placements Interest Principal Interest $2,241,599 $1,848,000 $381,200 2,051,704 1,670,000 320,281 1,837,899 1,686,000 264,288 1,631,934 1,555,000 207,672 1,425,284 1,597,000 155,106 4,218,276 2,950,000 196,713 1,854,238 Ͳ Ͳ 833,640 Ͳ Ͳ 116,263 Ͳ Ͳ Ͳ Ͳ Ͳ $16,210,833 $11,306,000 $1,525,259  Page 80 Note10ChangesinLongͲTermLiabilities LongͲtermliabilitiesactivityfortheyearendedJune30,2023wasasfollows:   TheCity’soutstandingnotesfromdirectborrowingsanddirectplacementsrelatedtocommunityfacilities districts’debtof$11,306,000aresecuredbyeither(1)anadvaloremtaxonalltaxableproperty;(2)an 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 $4,690,000 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$1,902,451issecuredbypledgedwaterandwastewaterrevenues.Thisoutstandingnote containsaprovisionthatinaneventofdefaultalatechargeof6%perannumwillbechargedandthe legalrightsofthecreditorwillbeenforced.   Page 81 Note11InterfundReceivables,Payables,andTransfers  Transfersduringthefiscalyearwereasfollows: GeneralFund CommunityFacilitiesDistricts GOBondCapitalProjects NonUtilityDevelopmentImpactFee NonͲMajorGovernmentalFunds Sanitation WaterandWastewaterFund Total TransfersIn TransfersOut $10,646,868 $26,400,567 309,087 4,100,860 9,714,393 10,869 20,797,903 3,399,955 1,275,200 6,280,800 $41,468,251 $41,468,251  In FY23, the General Fund subsidized the Highway User Revenue, Ballpark, Ambulance Funds in the amountof$269K,$1.3M,and$13.9M.Thetransferswereusedtocoveroperations,debtserviceand capital outlays. The Enterprise Funds transferred $7.6M to the General Fund for interfund goods and services provided and reimbursable expenditures. There were Transfers between the Community FacilitiesDistrictFundsof$5Mrelatedtotheusebondproceedstoreimburseadeveloper.Therewasa transferof$2.5MfromtheGrantFundtotheGeneralFund,representingtheuseoftheremainingARPA funds.Theremaining$11MrepresentstransfersbetweentheGeneralFundandtheCapitalProjectsFund, tofundcapitaloutlayprojects. InterfundbalancesasofJune30,2023,isasfollows: GeneralFund NonͲMajorGovernmentalFunds Dueto DueFrom $ $264,403 264,403 $264,403 $264,403 In FY23, the General Fund advanced $264K to the Grant Funds to cover expenditures awaiting reimbursement from the granting agencies. These amounts are expected to be collected in the subsequentyear. Note12ContingentLiabilities FederalandStategrantsandloansͲTheCityhasreceivedanumberofgrantsandloansfromboththe Federal and State governments. Although the programs have been audited, not all audits have been approvedasofJune30,2023;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. Page 82 Note13RiskManagement TheCityisexposedtovariousrisksoflossrelatedtotorts;theftof,damagetoanddestructionofassets; errors and omissions; injuries to employees; and natural disasters. The City’s property and liability insurance protection is provided by the Arizona Municipal Risk Retention Pool, of which the City is a participating member. The Arizona Municipal Risk Retention Pool is structured such that member premiumsarebasedonanactuarialreviewthatwillprovideadequatereservestoallowthepooltomeet its expected financial obligations. The pool has authority to assess its members additional premiums shouldreserveandannualpremiumsbeinsufficienttomeetthepool’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 relatedtospecificclaimsandotherclaimadjustmentexpensesregardlessofallocationstospecificclaims. Estimated recoveries, for example from subrogation, are another component of the claims liability estimate.Changesinthebalancesofclaimsliabilitiesduringthepasttwoyearsareasfollows: The City continues to carry commercial insurance for workers compensation. Settled claims have not exceededcommercialinsurancecoverageinanyofthepastfivefiscalyears. Note14PensionsandOtherPostemploymentBenefits TheCitycontributestotheplansdescribedbelow.TheplansarecomponentunitsoftheStateofArizona. AggregateAmounts.AtJune30,2023,theCityreportedthefollowingaggregateamountsrelatedto pensionsandotherpostemploymentbenefits(OPEB)forallplanstowhichitcontributes.  Page 83 Note14PensionsandOtherPostemploymentBenefits TheCityreported$12,233,808ofpensionandOPEBcontributionsasexpendituresinthegovernmental 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  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. Page 84 Note14PensionsandOtherPostemploymentBenefits 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 of12.17percent(12.03percentforretirementand0.14percentforlongͲtermdisability)ofthe members’ annual covered payroll, and the City was required by statute to contribute at the actuarially determined rate of 12.17 percent (11.92 percent for retirement, 0.11 percent for health insurance premium benefit, and 0.14 percent for longͲterm disability) of the active members’annualcoveredpayroll.  EmployersarealsorequiredtopayanAlternateContributionRate(ACR),forretiredmembers whoreturntoworkinpositionsthatwouldtypicallybefilledbyanemployeewhocontributesto ASRS.TheCitywasrequiredbystatutetocontributeattheactuariallydeterminedrateof9.68 percent(9.62forretirementand0.06percentforlongͲtermdisability).ACRcontributionsare includedinemployercontributionspresentedabove. TheCity’spensionandOPEBcontributionsarepaidbythesamefundsastheemployee’ssalary, withthelargestcomponentscomingfromtheGeneralFundandtheWaterandWastewaterFund. PensionandOPEBAssets/Liability.ThenetpensionandOPEBassets/liabilityweremeasuredas ofJune30,2022.Thetotalliabilityusedtocalculatethenetassetornetliabilitywasdetermined usingupdatedprocedurestorollforwardthetotalliabilityfromanactuarialvaluationasofJune 30,2021,tothemeasurementdateofJune30,2022.TheCity’sproportionofthenetassetornet liabilitywasbasedontheCity’sactualcontributionstotheapplicableplanrelativetothetotalof allparticipatingemployers’contributionstotheplanfortheyearendedJune30,2022. Page 85 Note14PensionsandOtherPostemploymentBenefits The City’s proportions measured as of June 30, 2022 and the change from its proportions measuredasofJune30,2021were:  Pension/OPEB Expense and Deferred Outflows/Inflows of Resources. The City has deferred outflowsandinflowsofresourcesrelatedtothenetpensionandOPEBassets/liability.Certain changesinthenetpensionandOPEBassets/liabilityarerecognizedaspensionandOPEBexpense overaperiodoftimeratherthantheyearofoccurrence.FortheyearendedJune30,2023,the CityrecognizedpensionandOPEBexpenseasfollows: Pension HealthInsurancePremium LongͲTermDisability Expense $8,435,633 (264,057) 14,280  AtJune30,2023,theCityreporteddeferredoutflowsofresourcesanddeferredinflowsof resourcesrelatedtopensionsandOPEBfromthefollowingsources: DeferredOutflowsofResources Health Insurance LongͲTerm Premium Disability Pension Differencesbetween expectedandactual experience $427,600 $Ͳ $14,879 2,490,744 28,368 15,569 Ͳ Ͳ Ͳ 3,477,605 189 25,170 Contributionssubsequentto themeasurementdate 5,000,049 39,214 49,908 Total $67,771 $105,526 Changesofassumptionsor otherinputs Netdifferencebetween projectedandactual earnings onpensioninvestments Changesinporportionand differencesbetween contributionsand $11,395,998  Page 86 Note14PensionsandOtherPostemploymentBenefits  Theamountsofdeferredoutflowsofresourcesresultingfromcontributionssubsequenttothe measurementdateasreportedinthetableabovewillberecognizedasanadjustmentofthenet pensionandOPEBassets/liabilityintheyearendedJune30,2024.Otheramountsreportedas deferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEB willberecognizedinpensionandOPEBexpenseasfollows: YearEndingJune30: Pension 2023 $4,629,805 2024 623,607 2025 (2,295,134) 2026 2,115,768 2027 Ͳ Thereafter Ͳ Health Insurance Premium $(275,278) (298,909) (326,782) (55,069) (49,629) Ͳ LongͲTerm Disability $(2,046) (3,644) (10,339) 936 (10,796) (17,930)  ActuarialAssumptions.Thesignificantactuarialassumptionsusedtomeasurethetotalpension andOPEBliabilityareasfollows: Actuarialvaluationdate Actuarialrollforwarddate Actuarialcostmethod Investmentrateofreturn Projectedsalaryincreases Inflation Permanentbaseincreases Mortalityrates Recoveryrates Healthcarecosttrendrate  Page 87 June30,2021 June30,2022 Entryagenormal 7.0% 2.9Ͳ8.4%forpensions/notapplicableforOPEB 2.3% Includedforpensions/notapplicableforOPEB 2017SRAScaleUͲMPforpensionsandhealth insurancepremiumbenefit 2012GLDTforlongͲtermdisability Notapplicable Note14PensionsandOtherPostemploymentBenefits TheactuarialassumptionsusedintheJune30,2021valuationwerebasedontheresultsofan actuarialexperiencestudyforthefiveͲyearperiodendedJune30,2020.ThelongͲtermexpected rateofreturnonASRSplaninvestmentswasdeterminedtobe7.0percentusingabuildingͲblock methodinwhichbestͲestimaterangesofexpectedfuturerealratesofreturn(expectedreturns, netofinvestmentexpenseandinflation)aredevelopedforeachmajorassetclass.Theseranges arecombinedtoproducethelongͲtermexpectedrateofreturnbyweightingtheexpectedfuture realratesofreturnbythetargetassetallocationpercentageandbyaddingexpectedinflation. Thetargetallocationandbestestimatesofarithmeticrealratesofreturnforeachmajorasset classforallASRSplansaresummarizedinthefollowingtable:  AssetClass TargetAllocation  Equity 50%  FixedincomeͲcredit 20%  FixedincomeͲinterestratesensitive 10%  Realestate 20%  LongͲTermGeometricRealRateof Return 3.90% 5.30% Ͳ0.20% 6.00% Total  100%   DiscountRate.AtJune30,2022,thediscountrateusedtomeasuretheASRSTotalpension/OPEB liability was 7.0 percent. The projection of cash flows used to determine the discount rate assumedthatcontributionsfromparticipatingemployerswillbemadebasedontheactuarially determinedratesbasedontheASRSBoard’sfundingpolicy,whichestablishesthecontractually requiredrateunderArizonastatute.Basedonthoseassumptions,theplans’fiduciarynetposition was projected to be available to make all projected future benefit payments of current plan members. Therefore,thelongͲtermexpectedrate ofreturnon investments wasapplied toall periodsofprojectedbenefitpaymentstodeterminethetotalpensionandOPEBliability. SensitivityoftheProportionateShareoftheNetPensionandOPEBAssets/LiabilitytoChanges intheDiscountRate.ThefollowingpresentstheCity’sproportionateshareofthenetpension andOPEBassets/liabilitycalculatedusingthediscountrateof7.0percent,aswellaswhatthe proportionateshareofthenetpensionandOPEBassets/liabilitywouldbeifitwerecalculated usingadiscountratethatis1ͲpercentageͲpointlower(6.0percent)or1ͲpercentageͲpoint higher(8.0percent)thanthecurrentrate:  PensionandOPEBPlanFiduciaryNetPosition.DetailedinformationaboutthepensionandOPEB plan’sfiduciarynetpositionisavailableintheseparatelyissuedASRSfinancialreport.Thereport isavailableontheASRSwebsiteatwww.azasrs.gov. Page 88 Note14PensionsandOtherPostemploymentBenefits 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. 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 Page 89 RetirementInitialMembershipDate:    Tier1  Tier2 Tier3  20yearsofservice,any  25yearsor15years 15yearsofcredited service,age52.5or15 ofcreditedservice, ageor15yearsof ormoreyearsof age52.5 service,age62 service,age55     Highest36consecutive  Highest60 Highest60consecutive monthsoflast20years consecutivemonths monthsoflast15years oflast20years     50%less2.0%foreach  1.5%to2.5%peryear 1.5%to2.5%peryear ofcreditedservice,not yearofcreditedservice ofcreditedservice, nottoexceed80% toexceed80% lessthan20yearsor plus2.0%to2.5%for eachyearofcredited serviceover20years, nottoexceed80%  Note14PensionsandOtherPostemploymentBenefits 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 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.AtJune30,2023thefollowingemployeeswerecovered bytheagentplan’sbenefitterms:  Contributions.StatestatutesestablishthepensioncontributionrequirementsforactivePSPRS employees.Inaccordancewithstatestatutes,annualactuarialvaluationsdetermineemployer contributionrequirementsforPSPRSpensionandhealthinsurancepremiumbenefits.The combinedactivememberandemployercontributionratesareexpectedtofinancethecostsof benefitsemployeesearnduringtheyear,withanadditionalamounttofinanceanyunfunded accruedliability.TheTierthreecalculationbelowusestheTotalBoardApprovedTier3 RequiredEmployerDefinedBenefitCostfromtheActuarialValuationReports.Contribution ratesfortheyearendedJune30,2023,areindicatedbelow.Ratesareapercentageofactive members’annualcoveredpayroll. Page 90 Note14PensionsandOtherPostemploymentBenefits   EmployersarealsorequiredtopayanAlternateContributionRate(ACR),forretiredmembers whoreturntoworkinpositionsthatwouldtypicallybefilledbyanemployeewhocontributesto PSPRS.TheCitywasrequiredbystatutetocontributeattheactuariallydeterminedrateof8.04 percent for fire PSPRS and 9.52 percent for Police PSPRS. ACR contributions are included in employercontributionspresentedabove. In addition to the current contributions shown below, the city had a prepaid overpayment of $1,572,168inFire,and$989,723inPoliceappliedtowardsitsunfundedliability.Thecontributions tothepensionandOPEBplansfortheyearendedwere:  TheCity’spensionandOPEBcontributionsarepaidbythesamefundsastheemployee’ssalary, withthelargestcomponentcomingfromtheGeneralFund. PensionandOPEBAssets/Liability.AtJune30,2023,theCityreportedthefollowingassetsand liabilities.  ThenetpensionandOPEBassets/liabilityweremeasuredasofJune30,2022.Thetotalliability usedtocalculatethenetassetorliabilitywasdeterminedbyanactuarialvaluationasofthatdate. The total liability as of June 30, 2022, reflect changes of actuarial assumptions, including decreasing the investment rate of return from 7.3 percent to 7.2 percent, changing the wage inflation from 3.5 percent to a range of 3.0 – 6.25 percent, and increasing the costͲofͲliving adjustmentfrom1.75percentto1.85percent. Page 91 Note14PensionsandOtherPostemploymentBenefits Actuarial Assumptions. The significant actuarial assumptions used to measure the total pension/OPEBliabilityareasfollows:  ActuarialassumptionsusedintheJune30,2022,valuationwerebasedontheresultsofanactuarial experiencestudyforthe5ͲyearperiodendedJune30,2021. The longͲterm expected rate of return on PSPRS plan investments was determined to be 7.20 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 3.49% 4.47% 7.18% 4.83% 0.45% 5.10% 2.68% (0.35)%   DiscountRate.AtJune30,2022,thediscountrateusedtomeasurethetotalpensionandOPEB liabilitywas7.2percent,whichwasadecreaseof0.1fromthediscountrateusedasofJune30, 2021 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 contribution rate and the member rate. Based on those assumptions, the plans’ fiduciary net positionwasprojectedtobeavailabletomakeallprojectedfuturebenefitpaymentsofcurrent planmembers.Therefore,thelongͲtermexpectedrateofreturnonplaninvestmentswasapplied toallperiodsofprojectedbenefitpaymentsfortheseplanstodeterminethetotalpensionand OPEBliability. Page 92 Note14PensionsandOtherPostemploymentBenefits ChangesinNet(Assets)/Liability   Page 93 Note14PensionsandOtherPostemploymentBenefits SensitivityoftheNetPensionandOPEBAssets(Liability)toChangesintheDiscountRate.The followingpresentstheCity/Town’snetpensionandOPEBassets(liability)calculatedusingthe discountrateof7.2percent,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.FortheyearendedJune30,2023,theCityrecognizedthefollowingaspensionandOPEB expense:  DeferredOutflows/InflowsofResources.AtJune30,2023,theCityreporteddeferredoutflows ofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEBfromthefollowing sources:  Page 94 Note14PensionsandOtherPostemploymentBenefits  Theamountsofdeferredoutflowsofresourcesresultingfromcontributionssubsequenttothe measurementdateasreportedinthetableabovewillberecognizedasanadjustmentofthenet pensionandOPEBassets/liabilityintheyearendedJune30,2024.Otheramountsreportedas deferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsandOPEB willberecognizedinpensionandOPEBexpenseasfollows:  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.ThisplanwasfullyvestedasofJune30,2023.AsofJune30, 2023,therewerefoureligibleemployeesparticipatingintheplan.Theplanwasadministeredby CeteraAdvisorNetworksLLC. Page 95 Note14PensionsandOtherPostemploymentBenefits AsofJune30,2023,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 For the year ended, June 30, 2023, expenditures exceeded the budget at the fund level in one fund. However,thisdoesnotconstituteaviolationofanylegalprovision. Note16FundBalanceClassifications FundBalances(deficits): Nonspendable Inventories Prepaiditems Restricted Ambulance Capitalprojects Communityfacilitiesdistrictsoperations Court Debtservice Developmentimpactfees Grants Lawenforcement Streets Transit Committed Ballpark Assigned FacilitiesAssetMgmtPlan Fireassetreserve Fleetreplacement ITreplacement Riskmanagement Parksmanagement Trafficsignalreserve GeneralFundFY2023Budget Unassigned Totalfundbalances GeneralFund NonUtility Development ImpactFees CapitalProjects GOBonds CapitalProjects McDowell Road Commerical Community CorridorID Facilities DebtService DistrictsDebt Fund ServiceFund $171,959 472,374 $Ͳ Ͳ $Ͳ Ͳ $Ͳ Ͳ $Ͳ Ͳ $1,259,339 Ͳ $1,431,298 472,374 Ͳ Ͳ Ͳ 569,500 Ͳ Ͳ Ͳ 529,685 Ͳ 1,478,684 Ͳ Ͳ Ͳ Ͳ Ͳ 91,525,059 Ͳ Ͳ Ͳ Ͳ 19,386,727 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 169,682 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 2,684,463 Ͳ Ͳ Ͳ Ͳ Ͳ 406,739 Ͳ 6,675,008 Ͳ 247,885 Ͳ 48,048 Ͳ 361,311 Ͳ 406,739 19,386,727 6,675,008 569,500 3,102,031 91,525,059 48,048 529,685 361,311 1,478,684 Ͳ Ͳ Ͳ Ͳ Ͳ 5,301,702 5,301,702 3,322,634 619,608 11,236,256 3,099,030 750,000 4,332,181 1,694,480 148,278,700 35,053,964 $211,609,055 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $91,525,059 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $19,386,727 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $169,682 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ $2,684,463 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ (18,885) $14,281,148 3,322,634 619,608 11,236,256 3,099,030 750,000 4,332,181 1,694,480 148,278,700 35,035,079 $339,656,134 NonͲMajor Funds Total Governmental Funds  Note17DeficitFundBalances  As of June 30, 2023, the Tourism Fund had a deficit of $18,885, revenues in the next fiscal year are expectedtoeliminatethedeficit. Page 96 Note18Commitments CapitalImprovementProgram(CIP)Commitments  TheCityhasactivecapitalimprovementprojectsthatarefinancedfromexistingfundbalances.AsofJune30, 2023,thefollowingbalancesareforworknotyetcomplete: Project 23003ͲPhoneSystemHardwareReplacement 30007ͲFireStation188DesignBuild 30008ͲFireStation183TenantImprovements 30011ͲReserveBrushTruck 35002ͲTylerNewWorldUpgrade 35003ͲPoliceBuildingPhaseII 35004ͲPropertyWarehouseSecurityUpgrades 40007ͲDSDͲPermittingSystem 41003ͲEnhancedBullardLandscape&Branding 42011ͲSarivalAvenue:JeffersonStreettoYumaRoad 42013ͲTrafficSignal:CamelbackRoad&PerryvilleRoad 42026ͲEstrellaParkway:VineyardAvenuetoMC85RoadwayImprovements 42027ͲEstrellaParkway:PebbleCreekParkway&IͲ10Interchange 42037ͲYumaRoad:CanyonTrailstoSarivalAvenue 42038ͲCamelbackRoad:SR303to152ndAvenue 42039ͲTrafficSignal:ClubhouseDrive&McDowellRoad 42040ͲTrafficSignal:PerryvilleRoad&IndianSchoolRoad 42042ͲWesternAvenueParkingLot 42043ͲBullardAvenueWideningͲSouthatVanBurenStreet 42046ͲCottonLaneͲEstrellaParkwaytoCottonLaneBridge 42047ͲLowerBuckeyeRoad&SarivalAvenue 42048ͲSarivalAvenue(WestHalf):YumaRoadtoElwoodStreet 42049ͲTransportationMasterPlan 42050ͲTrafficManagementCenterParkingLotImprovements 42053ͲCottonLane&YumaRoadLaneAddition 42058ͲMcDowellRoad:LitchfieldRoadtoDysartRoad 42060ͲTrafficSignal:EstrellaParkway&CenterraDrive 42061ͲTrafficSignal:152ndDrive&VanBurenStreet 42062ͲTrafficSignal:165thAvenue&YumaRoad 50020ͲROWLandscapeEstrellaParkway:IͲ10ͲMC85 50023ͲParks&RecreationMasterPlan 50026ͲBullardWashIIPark:Sidewalk&PathwayLighting 50027ͲIrrigationControllerConversion 50030ͲPublicArt:BullardWashPark 50031ͲVanBurenStreet:SarivalAvenuetoSR303Medians 60034ͲBrineDisposal 60046ͲHistoricGoodyearWaterlines 60047ͲBooster11Generator 60060ͲMobileCommandVehicle 60062ͲGoodyearMotelͲCountryAireApartmentsSewerPiping 60072ͲFleetManagementInformationSystem 60077ͲRainbowValleyWRFPlantDesign&Expansion 60079ͲIntegratedWaterMasterPlan(IWMP)MidͲTermUpdate 60080ͲBullardWashConveyance:IͲ10toGilaRiver 60081ͲSolidWasteRearLoaderReplacement 60082ͲFireApparatus(Unit695)Replacement 60083ͲFireApparatus(Unit696)Replacement 60084ͲFireApparatus(Unit713)Replacement 60085ͲFacilitiesMasterPlan 60087ͲStreetSignVehicle(Unit691) 60088ͲStreetSweeper(Unit739) 60090ͲRainbowValleyWRFBlowerReplacement 60091ͲBooster13GeneratorReplacement 60092ͲEMRValveReplacementͲElliotRoad:EstrellaParkwaytoSanGabrielDrive 60093ͲGoodyearWRFBlowerReplacement 60094ͲCorgettWRFBlowerReplacement 60095ͲLasBrisasLiftStationOdorScrubberReplacement 60101ͲSite21TreatmentImprovements&IncreasedCapacity 60103ͲCorgettWRFClarifierRehabilitation&NewClarifier 60104ͲFireBrushTruck(Unit542) 60105ͲGoodyearMunicipalComplexTenantImprovements 60106ͲStreetSweeper(Unit759) 60107ͲStreetSweeper(Unit760)Replacement 60109ͲGoodyearWRFExpansion 60110ͲRainbowValleyWRFExpansion 60111ͲWaterDistributionDumpTruck(Unit320) 60112ͲGoodyearWRFMasterPlan Amount 130,406 10,632,270 4,494,594 113,091 113,993 2,890,283 174,069 440,333 13,899 66,505 363,221 3,268,723 28,573 122,560 1,656,626 88,654 18,853 343,836 1,384,800 724,786 307,760 2,158,087 255,002 25,355 1,819,637 1,063,568 383,697 4,438 25,980 738,963 7,132 8,436 24,613 11,079 209,300 2,575,106 1,362,910 903,930 930,000 78,807 53,050 329,974 68,660 74,357 277,045 947,000 947,000 947,000 210,657 213,461 286,111 64,063 238,000 73,055 591,544 68,339 184,211 396,963 231,955 1,157,550 303,044 286,111 286,111 5,409,149 903,760 166,674 285,636 $54,964,355 Page 97 Note18Commitments  Encumbrances  Encumbrancesareemployedtoeffectivelyplanandcontrolfundsforspecificitems.AsofJune30,2023, theencumbrancestobehonoredinthenextfiscalyearhavebeenclassifiedasassigned,unlessspecified asrestrictedorcommittedbasedonfundnature.  Fund GeneralFund NonͲUtilityDevelopmentImpactFees GOBondsCapitalProjects TotalGovernmentalFunds Amount $15,464,007 $19,028,344 $6,262,223 $40,754,574 Water&WastewaterFund TotalProprietaryFunds $14,209,781 $14,209,781   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. FortheyearendedJune30,2023,governmentpropertyleaseagreementstheCityenteredintoreduced theCitytaxrevenuesby$422,350. 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. Page 98 Note19TaxAbatementAgreements 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. FortheyearendedJune30,2023,propertieswithintheforeigntradezonesreducedtheCitytaxrevenues by$543,090. 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.FortheyearendedJune30,2023,theonedeveloperagreementreducedCitysalestaxrevenues by$3,041,653. Page 99 Page 100 RequiredSupplementaryInformation Page 101 CityofGoodyear,Arizona General ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Revenues Taxes Licenses,permitsandfees Intergovernmentalrevenue Chargesforservices Finesandforfeitures Investmentincome Contributions Otherrevenues Totalrevenues Expenditures Current: Generalgovernment: Cityattorney Cityclerk Citymanager Communications Finance Humanresources ITS Mayorandcouncil NonͲdepartmental Reservedforcontingency Totalgeneralgovernment Publicsafety: Fire Municipalcourt Police Totalpublicsafety Publicworks: Administration Buildingservices Fleetservices Programmanagement Totalpublicworks Cultureandrecreation: Artsandculture Parks Recreation Totalcultureandrecreation Page 102 Original Final Actual Variancewith FinalBudget $114,175,900 13,795,700 38,990,000 1,982,500 1,073,400 317,300 2,025,000 12,922,100 185,281,900 $114,175,900 13,795,700 38,990,000 1,947,500 1,073,400 317,300 2,085,000 13,492,100 185,876,900 $122,621,965 16,403,295 42,389,455 3,353,964 945,684 6,941,292 2,858,224 1,359,507 196,873,386 $8,446,065 2,607,595 3,399,455 1,406,464 (127,716) 6,623,992 773,224 (12,132,593) 10,996,486 2,769,300 1,122,000 7,990,700 1,631,700 4,981,800 5,903,900 9,376,900 497,300 1,738,200 60,274,300 96,286,100 2,769,300 1,182,000 6,925,500 1,662,600 5,069,300 6,210,900 9,789,900 497,300 3,500,000 35,904,400 73,511,200 2,373,850 949,130 3,287,533 1,494,604 4,651,532 5,691,823 8,395,872 300,074 3,041,653  30,186,071 395,450 232,870 3,637,967 167,996 417,768 519,077 1,394,028 197,226 458,347 35,904,400 43,325,129 27,866,800 2,176,000 35,327,800 65,370,600 28,841,100 2,176,000 35,507,500 66,524,600 26,744,686 1,551,705 33,560,694 61,857,085 2,096,414 624,295 1,946,806 4,667,515 648,300 4,418,300 160,500 929,100 6,156,200 648,300 4,416,100 144,700 929,100 6,138,200 651,150 3,968,410 421,889 793,984 5,835,433 (2,850) 447,690 (277,189) 135,116 302,767 1,364,400 9,322,600 7,944,600 18,631,600 1,364,400 9,402,800 7,949,500 18,716,700 1,560,444 9,015,102 7,252,673 17,828,219 (196,044) 387,698 696,827 888,481 CityofGoodyear,Arizona General ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Original Final Actual 12,638,300 3,945,500 2,530,400 19,114,200 96,025,300 12,739,300 4,608,200 2,530,400 19,877,900 114,199,600 10,043,835 2,359,434 2,151,249 14,554,518 18,242,132 1,127,000 28,000 1,155,000 302,739,000 1,127,000 28,000 1,155,000 300,123,200 1,145,249 26,799 1,172,048 149,675,506 Variancewith FinalBudget Developmentservices: Developmentservices Economicdevelopment Engineering Totaldevelopmentservices Capitaloutlay Debtservice: Principalretirement Interestandfiscalcharges Totaldebtservice Totalexpenditures Excess(deficiency)ofrevenuesover(under) expenditures (117,457,100) (114,246,300) 47,197,880 (139,451,208) Otherfinancingsources(uses) Transfersin Transfersout Saleofcapitalassets Totalotherfinancingsources(uses) 36,560,500 40,955,900 10,796,868 (30,159,032) (57,177,017) (58,557,517) (27,061,782) 31,495,735   250,461 250,461 (20,616,517) (17,601,617) (16,014,453) 1,587,164 Changesinfundbalances (138,073,617) (131,847,917) 31,183,427 (137,864,044) Fundbalances,beginningofyear 45,337,356 39,333,106 176,825,325 137,492,219 Fundbalances,endofyear $(92,736,261) $(92,514,811) $208,008,752 $(371,825) Page 103 Seeaccompanyingnotestothisschedule. 2,695,465 2,248,766 379,151 5,323,382 95,957,468  (18,249) 1,201 (17,048) 150,447,694 CityofGoodyear,Arizona NotestoRequiredSupplementaryInformation June30,2023  Note1–BudgetaryBasisofAccounting  TheCity’sbudgetispreparedonabasisconsistentwithaccountingprinciplesgenerallyacceptedinthe UnitedStatesofAmerica,exceptforthefollowingitem.  x CertainactivitiesreportedintheGeneralFundarebudgetedinseparatefunds.  Thefollowingschedulereconcilesexpendituresandfundbalancesattheendofyear.  Beginning  Fund  Balance     Expenditures Ending Fund Balance  Revenue StatementofRevenues,ExpendituresandChangesin FundBalances–GovernmentalFunds  $179,061,758 $198,125,275  $150,074,742 $211,069,055 Activitybudgetedasspecialrevenuefunds (2,236,433) (1,251,889)  (399,236)  (2,577,869) ScheduleofRevenues,ExpendituresandChangesin FundBalances–BudgetandActual–GeneralFund  $176,825,325 $196,873,386  $149,675,506 $208,008,752 Page 104 CityofGoodyear,Arizona ScheduleoftheProportionateShareoftheNetPensionLiability ArizonaStateRetirementSystem LastNineFiscalYears 2023 2022 2021 2020 2019 June30,2022 June30,2021 June30,2020 June30,2019 June30,2018 Proportionofthenetpension (assets)liability 0.31% 0.28% 0.26% 0.25% 0.27% Proportionateshareofthenet pension(assets)liability $50,184,300 $37,024,641 $45,605,133 $37,050,173 $37,221,762 Coveredpayroll $38,450,304 $32,091,131 $28,572,110 $26,747,686 $25,325,110 Proportionateshareofthenet pension(assets)liabilityasapercentage ofitscoveredpayroll 130.52% 115.37% 159.61% 138.52% 146.98% Planfiduciarynetpositionasa percentageofthetotalpensionliability 74.26% 78.58% 69.33% 73.24% 73.40% Measurementdate 2018 2017 2016 2015 2014 June30,2017 June30,2016 June30,2015 June30,2014 0 Proportionofthenetpension (assets)liability 0.24% 0.24% 0.24% 0.22% Proportionateshareofthenet pension(assets)liability $37,471,443 $39,085,443 $36,986,742 $33,264,817 $ Coveredpayroll $23,806,419 $22,599,315 $21,761,494 $20,166,769 $ Proportionateshareofthenet pension(assets)liabilityasapercentage ofitscoveredpayroll 157.40% 172.95% 169.96% 164.95% #DIV/0! Planfiduciarynetpositionasa percentageofthetotalpensionliability 69.92% 67.06% 68.35% 69.49% Measurementdate 0.00% NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 105 Seeaccompanyingnotestothisschedule. 0.00% CityofGoodyear,Arizona ScheduleoftheProportionateShareoftheNetOPEBLiability HealthInsurancePremiumBenefit ArizonaStateRetirementSystem LastSixFiscalYears 2023 2022 2021 2020 2019 June30,2022 June30,2021 June30,2020 June30,2019 June30,2018 0.31% 0.28% 0.26% 0.26% 0.27% Proportionateshareofthenet OPEB(asset) $(1,747,907) $(1,400,236) $(190,345) $(71,968) $(97,837) Coveredpayroll $38,450,304 $32,091,131 $28,572,110 $26,747,686 $25,325,110 Proportionateshareofthenet OPEB(assets)liabilityasapercentage ofitscoveredpayroll Ͳ4.55% Ͳ4.36% Ͳ0.67% Ͳ0.27% Ͳ0.39% Planfiduciarynetpositionasa percentageofthetotalOPEBliability 137.79% 130.24% 104.33% 101.62% 102.20% Measurementdate ProportionofthenetOPEB(asset) Measurementdate ProportionofthenetOPEB(asset) 2018 2017 2016 2015 2014 June30,2017 0 0 0 0 0.24% 0.00% 0.00% 0.00% 0.00% Proportionateshareofthenet OPEB(asset) $(132,414) $ $ $ $ Coveredpayroll $23,806,419 $ $ $ $ Proportionateshareofthenet OPEB(assets)liabilityasapercentage ofitscoveredpayroll Ͳ0.56% #DIV/0! #DIV/0! #DIV/0! #DIV/0! Planfiduciarynetpositionasa percentageofthetotalOPEBliability 103.57% #N/A #N/A #N/A #N/A NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 106 Seeaccompanyingnotestothisschedule. CityofGoodyear,Arizona ScheduleoftheProportionateShareoftheNetOPEBLiability LongͲTermDisability ArizonaStateRetirementSystem LastSixFiscalYears 2023 2022 2021 2020 2019 June30,2022 June30,2021 June30,2020 June30,2019 June30,2018 0.31% 0.28% 0.26% 0.26% 0.27% Proportionateshareofthenet OPEB(asset) $14,280 $58,752 $202,049 $168,210 $139,754 Coveredpayroll $38,450,304 $32,091,131 $28,572,110 $26,747,686 $25,325,110 Proportionateshareofthenet OPEB(assets)liabilityasapercentage ofitscoveredpayroll 0.04% 0.18% 0.71% 0.63% 0.55% Planfiduciarynetpositionasa percentageofthetotalOPEBliability 95.40% 90.38% 68.01% 72.85% 77.83% Measurementdate ProportionofthenetOPEB(asset) Measurementdate ProportionofthenetOPEB(asset) 2018 2017 2016 2015 2014 June30,2017 0 0 0 0 0.24% 0.00% 0.00% 0.00% 0.00% Proportionateshareofthenet OPEB(asset) $87,433 $ $ $ $ Coveredpayroll $23,806,419 $ $ $ $ Proportionateshareofthenet OPEB(assets)liabilityasapercentage ofitscoveredpayroll 0.37% #DIV/0! #DIV/0! #DIV/0! #DIV/0! Planfiduciarynetpositionasa percentageofthetotalOPEBliability 84.44% #N/A #N/A #N/A #N/A NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 107 Seeaccompanyingnotestothisschedule. CityofGoodyear,Arizona ScheduleofChangesintheNetPensionLiabilityandRelatedRatios PublicSafetyPersonnelRetirementSystemͲPolice LastNineFiscalYears Measurementdate Totalpensionliability Servicecost Interest Changesofbenefitterms Differencesbetweenexpectedandactual experience Changesofassumptionsorotherinputs Benefitpayments,includingrefundsof employeecontributions Netchangeintotalpensionliability Totalpensionliability—beginning Totalpensionliability—ending  Planfiduciarynetposition Contributions—employer Contributions—employee Netinvestmentincome Benefitpayments,includingrefundsof employeecontributions Hall/Parkersettlement Administrativeexpense Otherchanges Netchangeinplanfiduciarynetposition Planfiduciarynetposition—beginning Adjustmenttobeginningofyear Planfiduciarynetposition—ending  Netpension(assets)liability—ending Planfiduciarynetpositionasa percentageofthetotalpensionliability Coveredpayroll Netpension(assets)liabilityasa percentageofcoveredpayroll 2023 2022 2021 2020 June30,2022 June30,2021 June30,2020 June30,2019 $2,160,730 $2,208,847 $2,269,992 $2,184,422 4,963,351 4,586,569 4,141,357 3,834,071     1,666,085 641,214 466,330  1,426,978 (759,999)  1,323,823 (2,707,211) 6,549,285 67,183,987 $73,733,272 (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 $4,835,709 802,568 (2,603,517) $14,918,307 819,075 11,521,830 $2,900,958 870,194 479,482 $3,042,548 785,605 1,784,598 (2,707,211)  (46,953)  280,596 62,966,872  $63,247,468 (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 $10,485,804 $4,217,115 $23,986,393 $20,376,991 85.78% 93.72% 60.99% 63.13% $13,130,356 $8,656,917 $9,220,411 $9,600,397 79.86% 48.71% 260.14% 212.25% NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 108 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 June30,2018 June30,2017 June30,2016 June30,2015 June30,2014 0 $2,123,570 $1,914,605 $1,437,416 $1,278,133 $1,278,071 $ 3,331,300 2,971,515 2,477,882 2,301,498 1,966,048   456,529 3,357,342  186,683  1,802,331 494,534  824,808 389,465 (159,382) 1,580,891  260,090  1,746,183  (1,283,523) 5,973,678 44,597,544 $50,571,222 (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 $1,633,633 $1,597,875 947,565 930,370 885,129 1,918,567 2,810,340 130,212 $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 $9,549,374 $ 61.72% 60.03% 57.24% 67.15% 67.33% #DIV/0! $9,388,019 $8,331,614 $7,375,148 $7,012,489 $6,630,426 $ 206.23% 213.94% 228.40% 147.79% 144.02% #DIV/0! Page 109 (1,454,686) 5,207,305 39,390,239 $44,597,544    $ CityofGoodyear,Arizona ScheduleofChangesintheNetPensionLiabilityandRelatedRatios PublicSafetyPersonnelRetirementSystemͲFire LastNineFiscalYears Measurementdate Totalpensionliability Servicecost Interest Changesofbenefitterms Differencesbetweenexpectedandactual experience Changesofassumptionsorotherinputs Benefitpayments,includingrefundsof employeecontributions Netchangeintotalpensionliability Totalpensionliability—beginning Totalpensionliability—ending  Planfiduciarynetposition Contributions—employer Contributions—employee Netinvestmentincome Benefitpayments,includingrefundsof employeecontributions Hall/Parkersettlement Administrativeexpense Otherchanges Netchangeinplanfiduciarynetposition Planfiduciarynetposition—beginning Adjustmenttobeginningofyear Planfiduciarynetposition—ending  Netpension(assets)liability—ending Planfiduciarynetpositionasa percentageofthetotalpensionliability Coveredpayroll Netpension(assets)liabilityasa percentageofcoveredpayroll 2023 2022 2021 2020 June30,2022 June30,2021 June30,2020 June30,2019 $2,111,855 $1,944,759 $1,996,708 $1,979,628 5,179,449 4,652,630 4,060,626 3,813,916     (2,181,718) 230,953 1,925,481 3,164,096 (2,153,410)   1,175,572 (1,712,464) 3,628,075 69,695,734 $73,323,809 (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 $5,297,887 737,175 (2,804,823) $14,569,689 693,071 12,513,461 $2,448,698 668,206 531,059 $2,107,184 598,158 1,962,666 (1,234,072)  (58,006)  1,467,194 26,484,143 67,766,592 41,282,449 4,523  $69,238,309 $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 $4,085,500 $1,929,142 $21,124,487 $15,507,726 94.43% 97.23% 66.15% 71.32% $12,175,244 $8,629,914 $8,191,627 $8,445,713 33.56% 22.35% 257.88% 183.62% (1,712,464)  (50,581) NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 110 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 June30,2018 June30,2017 June30,2016 June30,2015 June30,2014 0 $2,044,963 $1,819,328 $1,558,056 $1,409,380 $1,405,013 $ 3,111,423 2,846,014 2,121,084 1,822,450 1,640,015   208,024 4,046,976  (18,156)  4,118,805 (389,024)  222,373 1,915,498 1,030,908 (813,497) 1,632,401  619,565   (869,611) 8,405,580 41,458,577 $49,864,157 (385,270) 10,888,745 26,433,782 $37,322,527    $ (570,665) 4,136,050 37,322,527 $41,458,577 (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 $1,153,600 $1,173,975 905,341 1,109,821 992,221 2,135,563 3,112,669 141,788 $968,726 $948,481 $ 848,048 754,465  791,715 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 $3,500,511 $2,130,691 $ 69.29% 72.10% 67.29% 86.76% 90.68% #DIV/0! $8,787,982 $8,028,810 $8,217,597 $7,822,842 $7,338,829 $ 174.24% 144.07% 148.57% 44.75% 29.03% #DIV/0! Page 111 CityofGoodyear,Arizona ScheduleofChangesintheNetOPEBLiabilityandRelatedRatios PublicSafetyPersonnelRetirementSystemͲPolice LastSixFiscalYears Measurementdate TotalOPEBliability Servicecost Interest Changesofbenefitterms Differencesbetweenexpectedandactual experience Changesofassumptionsorotherinputs Benefitpayments Netchangeintotalpensionliability TotalOPEBliability—beginning TotalOPEBliability—ending  Planfiduciarynetposition Contributions—employer Contributions—employee Netinvestmentincome Benefitpayments Administrativeexpense Otherchanges Netchangeinplanfiduciarynetposition Planfiduciarynetposition—beginning Adjustmenttobeginningofyear Planfiduciarynetposition—ending  NetOPEB(assets)liability—ending Planfiduciarynetpositionasa percentageofthetotalOPEBliability Coveredpayroll NetOPEB(assets)liabilityasa percentageofcoveredpayroll 2023 2022 2021 2020 June30,2022 June30,2021 June30,2020 June30,2019 $34,460 $37,876 $40,698 $27,225 59,020 55,315 57,502 64,999     (77,491) 18,933 (16,101) 18,821 782,087 $800,908 (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 $5,364  (50,570) (16,101) (900)  (62,207) 1,290,142  $1,227,935 $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 $(427,027) $(508,055) $(280,775) $(235,969) 153.32% 164.96% 138.59% 131.89% $13,130,356 $8,656,917 $9,220,411 $9,600,397 (3.05)% (2.46)% (3.25)% (5.87)% NOTE: TheOPEBschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 112 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 June30,2018 June30,2017 June30,2016 June30,2015 June30,2014 0 $30,980 $27,494 $ $ $ $ 57,711 57,481      3,790     11,892  (13,196) 87,387 770,990 $858,377 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) $ $ $ $ 104.59% 108.50% $9,388,019 $8,331,614 (0.42)% (0.79)% Page 113 #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ $ $ $ #DIV/0! #DIV/0! #DIV/0! #DIV/0! CityofGoodyear,Arizona ScheduleofChangesintheNetOPEBLiabilityandRelatedRatios PublicSafetyPersonnelRetirementSystemͲFire LastSixFiscalYears Measurementdate TotalOPEBliability Servicecost Interest Changesofbenefitterms Differencesbetweenexpectedandactual experience Changesofassumptionsorotherinputs Benefitpayments Netchangeintotalpensionliability TotalOPEBliability—beginning TotalOPEBliability—ending  Planfiduciarynetposition Contributions—employer Contributions—employee Netinvestmentincome Benefitpayments Administrativeexpense Otherchanges Netchangeinplanfiduciarynetposition Planfiduciarynetposition—beginning Adjustmenttobeginningofyear Planfiduciarynetposition—ending  NetOPEB(assets)liability—ending Planfiduciarynetpositionasa percentageofthetotalOPEBliability Coveredpayroll NetOPEB(assets)liabilityasa percentageofcoveredpayroll 2023 2022 2021 2020 June30,2022 June30,2021 June30,2020 June30,2019 $29,653 $30,073 $31,919 $19,334 63,946 61,078 60,500 62,411     (54,317) 2,462 (14,694) 27,050 853,664 $880,714 (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 $29,367  (39,843) (14,694) (709)  (25,879) 1,018,707  $992,828 $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 $(112,114) $(165,043) $28,897 $33,130 112.73% 119.33% 96.44% 95.81% $12,175,244 $8,629,914 $8,191,627 $8,445,713 0.35% 0.39% (0.92)% (1.91)% NOTE: TheOPEBschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 114 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 June30,2018 June30,2017 June30,2016 June30,2015 June30,2014 0 $22,849 $20,875 $ $ $ $ 57,087 58,459      375     2,063  (24,100) 57,899 772,067 $829,966 21,035 (94,084) (7,230) (570) 772,637 $772,067      $      $      $      $ $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 $         $ $         $ $         $ $         $ $138,215 $123,174 $ $ $ $ 83.35% 84.05% $8,787,982 $8,028,810 1.57% 1.53% Page 115 #DIV/0! #DIV/0! #DIV/0! #DIV/0! $ $ $ $ #DIV/0! #DIV/0! #DIV/0! #DIV/0! CityofGoodyear,Arizona ScheduleofPensionContributions AllPensionPlans LastNineFiscalYears ArizonaStateRetirementSystem: Actuariallydeterminedcontribution Contributionsinrelationtothe actuariallydeterminedcontribution Contributiondeficiency(excess) Coveredpayroll Contributionsasapercentage ofcoveredpayroll 2023 2022 2021 2020 $5,000,049 $4,413,873 $3,690,370 $3,294,032 5,000,049 $ 4,413,873 $ 3,690,370 $ 3,294,032 $ $41,946,720 $38,450,304 $32,091,131 $28,572,110 11.92% 11.48% 11.50% 11.53% $3,492,704 $2,918,307 $2,900,958 5,061,277 $(1,568,573) 14,918,307 $(12,000,000) 2,900,958 $ $12,433,902 $13,130,356 $8,656,917 $9,220,411 31.51% 38.55% 172.33% 31.46% $2,941,811 $2,569,689 $2,448,698 5,101,975 $(2,160,164) 14,569,689 $(12,000,000) 2,448,698 $ $11,934,516 $12,175,244 $8,629,914 $8,191,627 32.52% 41.90% 168.83% 29.89% PublicSafetyPersonnelRetirementSystemͲPolice: $2,928,518 Actuariallydeterminedcontribution Contributionsinrelationtothe actuariallydeterminedcontribution 3,918,241 Contributiondeficiency(excess) $(989,723) Coveredpayroll Contributionsasapercentage ofcoveredpayroll PublicSafetyPersonnelRetirementSystemͲFire: Actuariallydeterminedcontribution $2,308,570 Contributionsinrelationtothe 3,880,738 actuariallydeterminedcontribution Contributiondeficiency(excess) $(1,572,168) Coveredpayroll Contributionsasapercentage ofcoveredpayroll NOTE: Thepensionschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,and additionalinformationwillbedisplayedasitbecomesavailable. Page 116 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 $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% $3,042,548 $3,953,950 $1,633,633 $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% 19.61% 21.67% 16.74% $2,107,184 $3,893,514 $1,153,600 $1,173,975 $968,726 $ 2,107,184 $ 3,893,514 $ 1,153,600 $ 1,173,975 $ 968,726 $  $ $8,445,713 $8,787,982 $8,028,810 $8,217,597 $7,822,842 $ 24.95% 44.30% 14.37% 14.29% 12.38% Page 117 #DIV/0! #DIV/0! #DIV/0! CityofGoodyear,Arizona ScheduleofOPEBContributions AllOPEBPlans LastSixFiscalYears ASRSͲHealthInsurancePremiumBenefit Actuariallydeterminedcontribution Contributionsinrelationtothe actuariallydeterminedcontribution Contributiondeficiency(excess) Coveredpayroll Contributionsasapercentage ofcoveredpayroll ASRSͲLongͲtermDisability Actuariallydeterminedcontribution Contributionsinrelationtothe actuariallydeterminedcontribution Contributiondeficiency(excess) Coveredpayroll Contributionsasapercentage ofcoveredpayroll 2023 2022 2021 2020 $39,214 $77,178 $122,906 $140,567 39,214 $ 77,178 $ 122,906 $ 140,567 $ $41,946,720 $38,450,304 $32,091,131 $28,572,110 0.09% 0.20% 0.38% 0.49% $49,908 $69,828 $56,856 $48,822 49,908 $ 69,828 $ 56,856 $ 48,822 $ $41,946,720 $38,450,304 $32,091,131 $28,572,110 0.12% 0.18% 0.18% 0.17% $37,876 $21,141 $28,426 37,876 $ 21,141 $ 28,426 $ $12,433,902 $13,130,356 $8,656,917 $9,220,411 0.26% 0.29% 0.24% 0.31% $30,073 $33,001 $26,821 30,073 $ 33,001 $ 26,821 $ $11,934,516 $12,175,244 $8,629,914 $8,191,627 0.54% 0.25% 0.38% 0.33% PSPRSPoliceͲHealthInsurancePremiumBenefit Actuariallydeterminedcontribution $31,906 Contributionsinrelationtothe actuariallydeterminedcontribution 31,906 $ Contributiondeficiency(excess) Coveredpayroll Contributionsasapercentage ofcoveredpayroll PSPRSFireͲHealthInsurancePremiumBenefit Actuariallydeterminedcontribution $64,469 Contributionsinrelationtothe actuariallydeterminedcontribution 64,469 Contributiondeficiency(excess) $ Coveredpayroll Contributionsasapercentage ofcoveredpayroll NOTE: TheOPEBschedulesintherequiredsupplementaryinformationareintendedtoshowinformationfortenyears,andadditional informationwillbedisplayedasitbecomesavailable. Page 118 Seeaccompanyingnotestothisschedule. 2019 2018 2017 2016 2015 2014 $123,288 $143,399 $ $ $ $ 123,288 $ 143,399 $  $  $  $  $ $26,747,686 $25,325,110 $23,806,419 $22,599,315 $21,761,494 $ 0.46% 0.57% 0.00% 0.00% 0.00% $42,908 $40,972 $ $ $ $ 42,908 $ 40,972 $  $  $  $  $ $26,747,686 $25,325,110 $23,806,419 $22,599,315 $21,761,494 $ 0.16% 0.16% 0.00% 0.00% 0.00% $30,174 $17,033 $30,113 $ $ $ 30,174 $ 17,033 $ 30,113 $  $  $  $ $9,600,397 $9,388,019 $8,331,614 $7,375,148 $7,012,489 $ 0.31% 0.18% 0.36% 0.00% 0.00% $28,091 $22,840 $31,049 $ $ $ 28,091 $ 22,840 $ 31,049 $  $  $  $ $8,445,713 $8,787,982 $8,028,810 $8,217,597 $7,822,842 $ 0.33% 0.26% 0.39% 0.00% 0.00% Page 119 #DIV/0! #DIV/0! #DIV/0! #DIV/0! CityofGoodyear,Arizona RequiredSupplementaryInformation NotestoPension/OPEBPlanSchedules June30,2023  Note1–ActuariallyDeterminedContributionRates  ActuarialdeterminedcontributionratesforPSPRSarecalculatedasofJune30twoyearspriortotheend of the fiscal year in which contributions are made. The actuarial methods and assumptions used to establishthecontributionrequirementsareasfollows:  Actuarialcostmethod Entryagenormal Amortizationmethod LevelpercentͲofͲpay,closed Remainingamortizationperiod  16yearsforunfundedliabilities;20yearsforexcess  asofthe2020actuarialvaluation Assetvaluationmethod 7Ͳyearsmoothedmarketvalue;80%/120%marketcorridor Actuarialassumptions:  Investmentrateofreturn Inthe2019actuarialvaluation,theinvestmentrateofreturnwas decreasedfrom7.4%to7.3%.Inthe2017actuarialvaluation,the investmentrateofreturnwasdecreasedfrom7.5%to7.4%.  Inthe 2016actuarialvaluation,theinvestmentrateofreturnwasdecreased from7.85%to7.5%.Inthe2013actuarialvaluation,theinvestmentrate ofreturnwasdecreasedfrom8.0%to7.85%. Projectedsalaryincreases Inthe2017actuarialvaluation,projectedsalaryincreaseswere decreasedfrom4.0%–8.0%to3.5%–7.5%.Inthe2014actuarial valuation,projectedsalaryincreasesweredecreasedfrom4.5%–8.5%to 4.0%–8.0%.Inthe2013actuarialvaluation,projectedsalaryincreases weredecreasedfrom5.0%–9.0%to4.5%–8.5%. Wagegrowth Inthe2017actuarialvaluation,wagegrowthwasdecreasedfrom4%to 3.5%.Inthe2014actuarialvaluation,wagegrowthwasdecreasedfrom 4.5%to4.0%.Inthe2013actuarialvaluation,wagegrowthwas decreasedfrom5.0%to4.5%. Retirementage ExperienceͲbasedtableofratesthatisspecifictothetypeofeligibility condition.Lastupdatedforthe2012valuationpursuanttoan experiencestudyoftheperiodJuly1,2006–June30,2011. Mortality Page 120 Inthe2019actuarialvaluation,changedtoPubSͲ2010tables.Inthe 2017actuarialvaluation,changedtoRPͲ2014tables,with75%ofMPͲ 2016fullygenerationalprojectionscales.  RPͲ2000mortalitytable(adjustedby105%forbothmalesandfemales). CityofGoodyear,Arizona RequiredSupplementaryInformation NotestoPension/OPEBPlanSchedules June30,2023  Note2–FactorsThatAffectTrends  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 unconstitutionalorabreachofcontractbecausethoseprovisionsapplytoindividualswhoweremembers asofthelaw’seffectivedate.Asaresult,thePSPRSchangedbenefittermstoreflectthepriormechanism forfundingpermanentbenefitincreasesforthosemembersandrevisedactuarialassumptionstoexplicitly valuefuturepermanentbenefitincreases.PSPRSalsoreducedthosemembers’employeecontribution rates.Thesechangesarereflectedintheplans’pensionliabilitiesforfiscalyear2015(measurementdate 2014)formemberswhowereretiredasofthelaw’seffectivedateandfiscalyear2018(measurement date 2017) for members who retired or will retire after the law’s effective date. These changes also increasedthePSPRSrequiredcontributionsbeginninginfiscalyear2016formemberswhowereretired asofthelaw’seffectivedate.Thesechangesincreasedtherequiredcontributionsbeginninginfiscalyear 2019formemberswhoretiredorwillretireafterthelaw'seffectivedate. Page 121  SupplementaryInformation BudgetaryComparisonSchedules MajorGovernmentalFunds  CapitalProjectsFunds  x NonͲUtilityDevelopmentImpactFeesFund–Thisfundaccountsforthereceiptandexpenditure ofdevelopmentimpactorexpansionfeesforallgovernmentalactivities.  x GOBondsFund–ThisfundaccountsfortheproceedsandinterestofthesaleofvoterͲapproved generalobligationbondsthatareusedforauthorizedimprovements.  DebtServiceFunds  x McDowellRoadCommercialCorridorIDFund–Thisfundaccountsforthedebtportionofthe McDowellRoadImprovementDistrict.  x Community Facilities Districts Fund – This fund accounts for the debt portion of the City’s CommunityFacilitiesDistricts,whicharecomponentunitsthatprovidegeneralinfrastructureand capitalassetsforpropertywitheachDistrict’sboundaries. Page 122 CityofGoodyear,Arizona NonͲUtilityDevelopmentImpactFees CapitalProjectsFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Original Final Actual Variancewith FinalBudget Revenues Taxes Chargesforservices Investmentincome Totalrevenues $7,615,500 11,750,600  19,366,100 $7,615,500 11,750,600  19,366,100 $10,527,066 18,586,402 1,672,145 30,785,613 $2,911,566 6,835,802 1,672,145 11,419,513 Expenditures Current: Generalgovernment Capitaloutlay Totalexpenditures 4,300 107,400 29,908 77,492 61,444,600 68,111,000 19,560,320 48,550,680 61,448,900 68,218,400 19,590,228 48,628,172 Excess(deficiency)ofrevenuesover(under) expenditures (42,082,800) (48,852,300) 11,195,385 60,047,685 Otherfinancingsources(uses) Transfersin Transfersout Totalotherfinancingsources(uses) 8,044,200 8,086,000  (8,086,000) (8,044,200) (8,101,600) (10,869) 8,090,731  (15,600) (10,869) 4,731 Changesinfundbalances (42,082,800) (48,867,900) 11,184,516 60,052,416 Fundbalances,beginningofyear 80,706,800 80,706,800 80,340,543 (366,257) Fundbalances,endofyear $38,624,000 $31,838,900 $91,525,059 $59,686,159 Page 123 CityofGoodyear,Arizona GOBonds CapitalProjectsFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Investmentincome Otherrevenues Totalrevenues $ $ $400,745 $400,745 15,000,000 1,388,100  (1,388,100) 15,000,000 1,388,100 400,745 (987,355) Expenditures Current: Cultureandrecreation Capitaloutlay Totalexpenditures  20,000 15,699 4,301 50,877,800 41,739,800 17,138,404 24,601,396 50,877,800 41,759,800 17,154,103 24,605,697 Excess(deficiency)ofrevenuesover(under) expenditures (35,877,800) (40,371,700) (16,753,358) 23,618,342 Otherfinancingsources(uses) Transfersin Transfersout Totalotherfinancingsources(uses) 10,778,800 10,899,800 9,714,392 (1,185,408)  (29,400)  29,400 10,778,800 10,870,400 9,714,392 (1,156,008) Changesinfundbalances (25,099,000) (29,501,300) (7,038,966) 22,462,334 Fundbalances,beginningofyear 25,099,000 25,099,000 26,425,693 1,326,693 Fundbalances,endofyear $ $(4,402,300) $19,386,727 $23,789,027 Page 124 CityofGoodyear,Arizona McDowellRoadCommericialCorridorID DebtServiceFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Revenues Investmentincome Specialassessments Totalrevenues Final Actual FinalBudget $ $ $1,536 1,536 3,799,200 4,366,000 3,128,962 (1,237,038) 3,799,200 4,366,000 3,130,498 (1,235,502) Expenditures Current: Highwaysandstreets Debtservice: Principalretirement Interestandfiscalcharges Totalexpenditures 24,200  2,913,100 3,685,000 3,265,000 420,000 656,800 656,800 631,675 25,125 3,799,200 4,366,000 3,896,675 469,325 Changesinfundbalances   (766,177) (766,177) Fundbalances,beginningofyear   935,859 935,859 Fundbalances,endofyear $ $ $169,682 $169,682 Page 125 229,300 24,200 CityofGoodyear,Arizona CommunityFacilitiesDistricts DebtServiceFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Taxes Investmentincome Specialassessments Contributions Otherrevenues Totalrevenues $6,424,800  3,244,000   9,668,800 $6,424,800  3,244,000 353,400  10,022,200 $7,079,360 186,039 2,474,292 353,322 162 10,093,175 $654,560 186,039 (769,708) (78) 162 70,975 Expenditures Debtservice: Principalretirement Interestandfiscalcharges Bondissuancecosts Totalexpenditures 6,737,000 2,824,900 1,120,800 10,682,700 6,737,000 2,922,800 1,357,400 11,017,200 6,433,000 2,738,137 232,083 9,403,220  304,000 184,663 1,125,317 1,613,980 Excess(deficiency)ofrevenuesover(under) expenditures (1,013,900) (995,000) 689,955 1,684,955 Otherfinancingsources(uses) Transfersin Transfersout Debtissuance Totalotherfinancingsources(uses)     Changesinfundbalances (1,013,900) (357,800) 1,327,182 1,684,982 Fundbalances,beginningofyear 1,093,433 1,093,433 1,357,281 263,848 Fundbalances,endofyear $79,533 $735,633 $2,684,463 $1,948,830 Page 126 309,100 309,087 (13) (4,100,900) (4,100,860) 40 4,429,000 4,429,000  637,200 637,227 27  SupplementaryInformation CombiningStatements AndBudgetaryComparisonSchedules NonͲMajorGovernmentalFunds  SpecialRevenueFunds  x HighwayUserRevenueFund(HURF)–FundedthroughfueltaxesdistributedfromtheStateof Arizona  x Community Facilities Districts – CFDs represent special districts formed for the purpose of financingtheacquisition,construction,operation,andmaintenanceofthepublicinfrastructure benefitingthecommunity.  x OfficeofTourismProp302–UsedtoaccountforrestrictedfundstosupportMaricopaCounty tourism,marketing,andpromotion.  x GrantsFund–BasedonapplicationstograntingagenciesbytheCityandavailabilityoffundingby grantors.  x BallParkFund–UsedtoaccountfortheactivitiesoftheCity’sballparkoperations.  x Ambulance–Thisfundaccountsforthechargesandoperationsofambulanceserviceswithinthe City.  DebtServiceFunds  x DebtServiceFund–Thisfundwasestablishedfortheaccumulationofresourcesandtheservicing oflongͲtermdebtnotbeingfinancedbytheproprietaryfunds.Revenuesaregeneratedfromthe propertytaxlevysufficienttomeetthedebtservicerequirements.  CapitalProjectsFunds  x Community Facilities Districts Fund – This fund accounts for the capital portion of the City’s CommunityFacilitiesDistricts,whicharecomponentunitsthatprovidegeneralinfrastructureand capitalassetsforpropertywitheachDistrict’sboundaries. Page 127 CityofGoodyear,Arizona CombiningBalanceSheet NonͲMajorGovernmentalFunds June30,2023 SpecialRevenue HighwayUser Community OfficeofTourism Revenue FacilitiesDistricts Prop302 Grants Assets Cashandcashequivalents Investments Receivables: Taxes Accounts Intergovernmental Inventories Totalassets   730,061 1,259,339 $2,574,875 16,848 10,000   $6,697,466     $185,304   363,044  $363,044 Liabilities Accountspayable Accruedwagesandbenefits Depositsheld Duetootherfunds Unearnedrevenue Totalliabilities $147,316 32,573 190,208  584,128 954,225 $22,458     22,458 $204,189     204,189 $6,545   264,403  270,948 Deferredinflowsofresources UnavailablerevenuesͲpropertytaxes UnavailablerevenuesͲintergovernmental Totaldeferredinflowsofresources        44,047    44,047 Fundbalances(deficits) Nonspendable Restricted Committed Unassigned Totalfundbalances(deficits) Totalliabilities,deferredinflowsofresources andfundbalances(deficits) Page 128 $585,475 $6,670,618 $185,304 $     1,259,339 361,311 6,675,008 48,049   (18,885)  1,620,650 6,675,008 (18,885) 48,049 $2,574,875 $6,697,466 $185,304 $363,044 SpecialRevenue TotalNonͲMajor Governmental BallParkSpecial Revenue Ambulance DebtService Funds $145,438 $344,220 $ $7,931,055 5,303,844  221,610 5,525,454    85,945 102,793 27,546 119,901  157,447    1,093,105   1,259,339  $5,476,828 $464,121 $307,555 $16,069,193 $118,264 56,862    175,126 $43,508 13,874    57,382 $      $542,280 103,309 190,208 264,403 584,128 1,684,328   59,670 59,670    44,047   59,670 103,717 1,259,339 406,739 247,885 7,738,992 5,301,702 5,301,702    (18,885) 5,301,702 406,739 247,885 14,281,148 $5,476,828 $464,121 $307,555 $16,069,193 Page 129 CityofGoodyear,Arizona CombiningStatementofRevenues,ExpendituresandChangesinFundBalances NonͲMajorGovernmentalFunds FortheYearEndedJune30,2023 SpecialRevenue Revenues Taxes Intergovernmentalrevenue Chargesforservices Investmentincome Contributions Otherrevenues Totalrevenues HighwayUser Community OfficeofTourism Revenue FacilitiesDistricts Prop302 Grants $ 7,865,237  138,973  284,333 8,288,543 $1,865,681   10,409  124,833 2,000,923 $ 129,414     129,414 $ 3,701,611     3,701,611   7,847,547   116,865 1,010,176         312,411   86,829 364,175 217,646 11,000 315,332 130,377 Expenditures Current: Generalgovernment Publicsafety Highwaysandstreets Cultureandrecreation Developmentservices Capitaloutlay Debtservice: Principalretirement Interestandfiscalcharges Totalexpenditures         7,964,412 1,010,176 312,411 1,125,359 Excess(deficiency)ofrevenuesoverexpenditures 324,131 990,747 (182,997) 2,576,252 Otherfinancingsources(uses) Transfersin Transfersout Totalotherfinancingsources(uses) 268,795       (2,477,086) 268,795   (2,477,086) Changesinfundbalances 592,926 990,747 (182,997) 99,166 Fundbalances,beginningofyear 1,027,724 5,684,261 164,112 (51,117) Fundbalances,endofyear $1,620,650 $6,675,008 $(18,885) $48,049 Page 130 CapitalProjects SpecialRevenue TotalNonͲMajor BallParkSpecial Community Governmental Revenue Ambulance DebtService FacilitiesDistricts Funds $  1,636,161 29,175 1,373,958 14 3,039,308 $  139,570    139,570 $9,673,822   6,612   9,680,434 $   20,614   20,614 $11,539,503 11,696,262 1,775,731 205,783 1,373,958 409,180 27,000,417    6,251,329  1,360,743  379,645    668,386            4,100,860 1,097,005 743,820 8,065,193 6,574,740 315,332 6,377,231 7,460,000  6,088,495  13,548,495 2,533,237  4,374,144  6,907,381 17,605,309 1,048,031 10,462,639 4,100,860 43,629,197 (14,566,001) (908,461) (782,205) (4,080,246) (16,628,780) 15,113,048 1,315,200  4,100,860 20,797,903    (922,869) (3,399,955) 15,113,048 1,315,200  3,177,991 17,397,948 547,047 406,739 (782,205) (902,255) 769,168 4,754,655  1,030,090 902,255 13,511,980 $5,301,702 $406,739 $247,885 $ $14,281,148 Page 131 CityofGoodyear,Arizona HighwayUserRevenue SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Original Final Actual Variancewith FinalBudget Revenues Intergovernmentalrevenue Investmentincome Otherrevenues Totalrevenues $7,885,000   7,885,000 $7,885,000   7,885,000 $7,865,237 138,973 284,333 8,288,543 $(19,763) 138,973 284,333 403,543 Expenditures Current: Highwaysandstreets Capitaloutlay Totalexpenditures 9,951,200 10,055,300 7,847,547 2,207,753 1,038,700 458,200 116,865 341,335 10,989,900 10,513,500 7,964,412 2,549,088 Excess(deficiency)ofrevenuesover(under) expenditures (3,104,900) (2,628,500) 324,131 2,952,631 Otherfinancingsources(uses) Transfersin Totalotherfinancingsources(uses) 1,699,400 1,699,400 268,795 (1,430,605) 1,699,400 1,699,400 268,795 (1,430,605) Changesinfundbalances (1,405,500) (929,100) 592,926 1,522,026 Fundbalances,beginningofyear 1,405,500 1,405,500 1,027,724 (377,776) Fundbalances,endofyear $ $476,400 $1,620,650 $1,144,250 Page 132 CityofGoodyear,Arizona CommunityFacilitiesDistrict SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Taxes Investmentincome Otherrevenues Totalrevenues $2,014,900 100  2,015,000 $2,014,900 100  2,015,000 $1,865,681 10,409 124,833 2,000,923 $(149,219) 10,309 124,833 (14,077) Expenditures Current: Generalgovernment Totalexpenditures 6,943,500 2,508,100 1,010,176 1,497,924 6,943,500 2,508,100 1,010,176 1,497,924 Changesinfundbalances (4,928,500) (493,100) 990,747 1,483,847 Fundbalances,beginningofyear 4,919,354 4,919,354 5,684,261 764,907 Fundbalances,endofyear $(9,146) $4,426,254 $6,675,008 $2,248,754 Page 133 CityofGoodyear,Arizona OfficeofTourismProp302 SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Intergovernmentalrevenue Totalrevenues $300,000 $300,000 $129,414 $(170,586) 300,000 300,000 129,414 (170,586) Expenditures Current: Cultureandrecreation Totalexpenditures 300,000 328,700 312,411 16,289 300,000 328,700 312,411 16,289 Changesinfundbalances  (28,700) (182,997) (154,297) Fundbalances,beginningofyear   164,112 164,112 Fundbalances,endofyear $ $(28,700) $(18,885) $9,815 Page 134 CityofGoodyear,Arizona Grants SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Intergovernmentalrevenue Totalrevenues $3,025,900 $3,419,200 $3,701,611 $282,411 3,025,900 3,419,200 3,701,611 282,411 Expenditures Current: Generalgovernment Publicsafety Highwaysandstreets Cultureandrecreation Developmentservices Capitaloutlay Totalexpenditures 460,600 1,406,300 500,000  2,534,700 1,500,300 6,401,900 Excess(deficiency)ofrevenuesover(under) expenditures (3,376,000) 554,700 2,576,252 2,021,552 Otherfinancingsources(uses) Transfersout Totalotherfinancingsources(uses) (774,800) (3,251,900) (2,477,086) 774,814 (774,800) (3,251,900) (2,477,086) 774,814 Changesinfundbalances (4,150,800) (2,697,200) 99,166 2,796,366 Fundbalances,beginningofyear 4,150,800 4,150,800 (51,117) (4,201,917) Fundbalances,endofyear $ $1,453,600 $48,049 $(1,405,551) Page 135 466,800 649,700 500,000 11,000 315,400 921,600 2,864,500 86,829 364,175 217,646 11,000 315,332 130,377 1,125,359 379,971 285,525 282,354  68 791,223 1,739,141 CityofGoodyear,Arizona BallPark SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Chargesforservices Investmentincome Contributions Otherrevenues Totalrevenues $2,226,300  1,254,000  3,480,300 $2,226,300  1,254,000  3,480,300 $1,636,161 29,175 1,373,958 14 3,039,308 $(590,139) 29,175 119,958 14 (440,992) Expenditures Current: Cultureandrecreation Capitaloutlay Debtservice: Principalretirement Interestandfiscalcharges Totalexpenditures 6,074,000 6,441,300 6,251,329 189,971 1,645,000 1,405,000 1,360,743 44,257  7,460,000 7,460,000 7,460,000  2,539,000 2,539,000 2,533,237 5,763 17,718,000 17,845,300 17,605,309 239,991 Excess(deficiency)ofrevenuesover(under) expenditures (14,237,700) (14,365,000) (14,566,001) (201,001) Otherfinancingsources(uses) Transfersin Totalotherfinancingsources(uses) 14,642,700 14,642,700 15,113,048 470,348 14,642,700 14,642,700 15,113,048 470,348 Changesinfundbalances 405,000 277,700 547,047 269,347 Fundbalances,beginningofyear 4,968,400 4,968,400 4,754,655 (213,745) Fundbalances,endofyear $5,373,400 $5,246,100 $5,301,702 $55,602 Page 136 CityofGoodyear,Arizona Ambulance SpecialRevenueFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Chargesforservices Totalrevenues $281,700 $281,700 $139,570 $(142,130) 281,700 281,700 139,570 (142,130) Expenditures Current: Publicsafety Capitaloutlay Totalexpenditures 961,400 963,700 379,645 584,055 635,500 635,100 668,386 (33,286) 1,596,900 1,598,800 1,048,031 550,769 Excess(deficiency)ofrevenuesover(under) expenditures (1,315,200) (1,317,100) (908,461) 408,639 Otherfinancingsources(uses) Transfersin Totalotherfinancingsources(uses) 1,315,200 1,315,200 1,315,200  1,315,200 1,315,200 1,315,200  Changesinfundbalances  (1,900) 406,739 408,639 Fundbalances,beginningofyear     Fundbalances,endofyear $ $(1,900) $406,739 $408,639 Page 137 CityofGoodyear,Arizona DebtServiceFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Taxes Investmentincome Totalrevenues $9,565,400 $9,565,400 $9,673,822 $108,422   6,612 6,612 9,565,400 9,565,400 9,680,434 115,034 Expenditures Current: Generalgovernment Debtservice: Principalretirement Interestandfiscalcharges Bondissuancecosts Totalexpenditures 20,000 20,000  20,000  5,044,000 5,327,000 6,088,495 (761,495) 3,130,500 3,413,500 4,374,144 (960,644) 1,703,100 1,703,100  1,703,100 9,897,600 10,463,600 10,462,639 961 Changesinfundbalances (332,200) (898,200) (782,205) 115,995 Fundbalances,beginningofyear 332,200 332,200 1,030,090 697,890 Fundbalances,endofyear $ $(566,000) $247,885 $813,885 Page 138 CityofGoodyear,Arizona CommunityFacilitiesDistrict CapitalProjectsFund ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Investmentincome Totalrevenues $ $ $20,614 $20,614   20,614 20,614 Expenditures Capitaloutlay Totalexpenditures  4,100,900 4,100,860 40  4,100,900 4,100,860 40 Excess(deficiency)ofrevenuesover(under) expenditures  (4,100,900) (4,080,246) 20,654 Otherfinancingsources(uses) Transfersin Transfersout Totalotherfinancingsources(uses)  4,100,900 4,100,860 (40)  (922,900) (922,869) 31  3,178,000 3,177,991 (9) Changesinfundbalances  (922,900) (902,255) 20,645 Fundbalances,beginningofyear   902,255 902,255 Fundbalances,endofyear $ $(922,900) $ $922,900 Page 139 Page 140 BudgetaryComparisonSchedules OtherFunds   Page 141 CityofGoodyear,Arizona ParkandRideMarquee ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Chargesforservices Investmentincome Totalrevenues $112,000 $112,000 $118,143 $6,143   66,793 66,793 112,000 112,000 184,936 72,936 Expenditures Current: Highwaysandstreets Totalexpenditures 1,478,500 1,478,500 258,616 1,219,884 1,478,500 1,478,500 258,616 1,219,884 Excess(deficiency)ofrevenuesover(under) expenditures (1,366,500) (1,366,500) (73,680) 1,292,820 Otherfinancingsources(uses) Transfersin Totalotherfinancingsources(uses)  150,000 150,000   150,000 150,000  Changesinfundbalances (1,366,500) (1,216,500) 76,320 1,292,820 Fundbalances,beginningofyear 1,366,500 1,366,500 1,402,365 35,865 Fundbalances,endofyear $ $150,000 $1,478,685 $1,328,685 Page 142 CityofGoodyear,Arizona CourtEnhancement ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Finesandforfeits Investmentincome Totalrevenues $70,000 $70,000 $74,882 $4,882   3,018 3,018 70,000 70,000 77,900 7,900 Expenditures Current: Publicsafety Totalexpenditures 350,900 350,900 42,550 308,350 350,900 350,900 42,550 308,350 Changesinfundbalances (280,900) (280,900) 35,350 316,250 Fundbalances,beginningofyear 280,900 280,900 305,413 24,513 Fundbalances,endofyear $ $ $340,763 $340,763 Page 143 CityofGoodyear,Arizona FillͲtheͲGap ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Finesandforfeits Investmentincome Totalrevenues $6,000 $6,000 $9,855 $3,855   120 120 6,000 6,000 9,975 3,975 Expenditures Current: Publicsafety Totalexpenditures 75,200 75,200  75,200 75,200 75,200  75,200 Changesinfundbalances (69,200) (69,200) 9,975 79,175 Fundbalances,beginningofyear 69,200 69,200 69,132 (68) Fundbalances,endofyear $ $ $79,107 $79,107 Page 144 CityofGoodyear,Arizona JCEF ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Finesandforfeits Totalrevenues $13,500 $13,500 $14,257 $757 13,500 13,500 14,257 757 Expenditures Current: Publicsafety Totalexpenditures 142,100 142,100  142,100 142,100 142,100  142,100 Changesinfundbalances (128,600) (128,600) 14,257 142,857 Fundbalances,beginningofyear 128,600 128,600 135,373 6,773 Fundbalances,endofyear $ $ $149,630 $149,630 Page 145 CityofGoodyear,Arizona Impound ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Chargesforservices Investmentincome Totalrevenues $105,000 $105,000 $95,400 $(9,600)   5,858 5,858 105,000 105,000 101,258 (3,742) Expenditures Current: Publicsafety Totalexpenditures 376,700 376,700 70,953 305,747 376,700 376,700 70,953 305,747 Changesinfundbalances (271,700) (271,700) 30,305 302,005 Fundbalances,beginningofyear 271,700 271,700 258,593 (13,107) Fundbalances,endofyear $ $ $288,898 $288,898 Page 146 CityofGoodyear,Arizona AZSmartandSafe ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Intergovernmentalrevenue Totalrevenues $500,000 $661,300 $661,350 $50 500,000 661,300 661,350 50 Otherfinancingsources(uses) Transfersout Totalotherfinancingsources(uses) (500,000) (661,300) (661,217) 83 (500,000) (661,300) (661,217) 83 Changesinfundbalances   133 133 Fundbalances,beginningofyear   30 30 Fundbalances,endofyear $ $ $163 $163 Page 147 CityofGoodyear,Arizona OfficerSafetyandEquipment ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Finesandforfeits Totalrevenues $20,000 $20,000 $17,046 $(2,954) 20,000 20,000 17,046 (2,954) Expenditures Current: Publicsafety Totalexpenditures 85,300 85,300 11,254 74,046 85,300 85,300 11,254 74,046 Changesinfundbalances (65,300) (65,300) 5,792 71,092 Fundbalances,beginningofyear 65,300 65,300 65,527 227 Fundbalances,endofyear $ $ $71,319 $71,319 Page 148 CityofGoodyear,Arizona OneArizonaOpioid ScheduleofRevenues,Expenditures,andChangesinFundBalancesͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Revenues Intergovernmentalrevenue Totalrevenues $ $ $185,167 $185,167   185,167 185,167 Expenditures Current: Publicsafety Totalexpenditures  1,200 15,863 (14,663)  1,200 15,863 (14,663) Changesinfundbalances  (1,200) 169,304 170,504 Fundbalances,beginningofyear     Fundbalances,endofyear $ $(1,200) $169,304 $170,504 Page 149 CityofGoodyear,Arizona WaterandWastewater EnterpriseFund ScheduleofOperationsͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Operatingrevenues Chargesforservices Otherrevenues Totaloperatingrevenues $57,984,000 $57,984,000 $52,888,693 $(5,095,307) 211,900 211,900 116,912 (94,988) 58,195,900 58,195,900 53,005,605 (5,190,295) Operatingexpenses Salaries,wagesandbenefits Costofsalesandservices Depreciation Totaloperatingexpenses 8,944,500 111,244,500  120,189,000 Operatingincome(loss) (61,993,100) (60,658,100) 9,107,296 (69,765,396) Nonoperatingrevenues(expenses) Investmentincome Interestexpenseandfiscalcharges Gain(loss)onsaleofassets Totalnonoperatingrevenue(expenses)   982,844 982,844 (6,858,000) (6,999,800) (6,004,740) 995,060   40,865 40,865 (6,858,000) (6,999,800) (4,981,031) 2,018,769 Income(loss)beforecontributionsandtransfers (68,851,100) (67,657,900) 4,126,265 71,784,165 8,866,500 109,987,500  118,854,000 8,024,000 23,730,447 12,143,862 43,898,309 842,500 86,257,053 (12,143,862) 74,955,691 Capitalcontributions Transfersin Transfersout 14,623,400 14,623,400 7,594,454 (7,028,946) 3,762,400 4,848,400  (4,848,400) (10,043,200) (11,129,200) (6,280,801) 4,848,399 Changesinnetposition (60,508,500) (59,315,300) 5,439,918 64,755,218 Totalnetposition,beginningofyear 44,329,500 44,329,500 325,005,388 280,675,888 Totalnetposition,endofyear $(16,179,000) $(14,985,800) $330,445,306 $345,431,106 Page 150 CityofGoodyear,Arizona Sanitation EnterpriseFund ScheduleofOperationsͲBudgetandActual FortheYearEndedJune30,2023 BudgetedAmounts Variancewith Original Final Actual FinalBudget Operatingrevenues Chargesforservices Otherrevenues Totaloperatingrevenues $8,369,700 $8,369,700 $8,791,140 $421,440   11,061 11,061 8,369,700 8,369,700 8,802,201 432,501 Operatingexpenses Salaries,wagesandbenefits Costofsalesandservices Depreciation Totaloperatingexpenses 1,434,400 7,520,400  8,954,800 Operatingincome(loss) (585,100) (733,700) 1,315,784 (2,049,484) Nonoperatingrevenues(expenses) Investmentincome Gain(loss)onsaleofassets Totalnonoperatingrevenue(expenses)   110,363 110,363   14,386 14,386   124,749 124,749 Income(loss)beforecontributionsandtransfers (585,100) (733,700) 1,440,533 2,174,233 Transfersout 1,395,400 7,708,000  9,103,400 1,379,818 5,903,636 202,963 7,486,417 15,582 1,804,364 (202,963) 1,616,983 (1,275,200) (1,275,200) (1,275,200)  Changesinnetposition (1,860,300) (2,008,900) 165,333 2,174,233 Totalnetposition,beginningofyear 2,001,000 2,001,000 4,609,969 2,608,969 Totalnetposition,endofyear $140,700 $(7,900) $4,775,302 $4,783,202 Page 151 Page 152 City of Goodyear Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023 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 Page 153 Page 154 StatisticalSection The statistical section presents financial statement trends as well as detailed financial and operational informationnotavailableelsewhereinthereport.Thestatisticalsectionisintendedtoenhancethereader’s understandingoftheinformationpresentedinthefinancialstatements,notestothefinancialstatements, andothersupplementaryinformationpresentedinthisreport.Thestatisticalsectioniscomprisedofthefive categoriesofstatisticalinformationpresentedbelow. FinancialTrends TheseschedulescontaininformationonfinancialtrendstohelpthereaderunderstandhowtheCity’s financialpositionandfinancialactivitieshavechangedovertime. RevenueCapacity TheseschedulescontaininformationtohelpthereaderassessthefactorsaffectingtheCity’sabilityto generaterevenue.  DebtCapacity These schedules present information to help thereader assess the affordability of the City’s current levelsofoutstandingdebtandthegovernment’sabilitytoissueadditionaldebtinthefuture. DemographicandEconomicInformation These schedules offer demographic and economic indicators to help the reader understand the environmentwithinwhichtheCity’sfinancialactivitiestakeplace. OperatingInformation 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 governmentprovidesandtheactivitiesitperforms. Duetocostconsiderationsfortheaccumulationofdata,theCityhaselectedtopresentlessthantenyearsof data, or data from less than nine years prior, for certain statistical schedules. This information will be accumulatedandreportedeachyearuntilthecompletetenyearsofdataispresented. Note:Forlocallyassessedproperty(i.e.,excludingmines,utilities,etc.)Proposition117,approvedbyvoters in2012,amendedtheArizonaConstitutiontorequirethatallpropertytaxesafterfiscalyear2014Ͳ15bebased uponpropertyvalueslimitedtofivepercentinannualgrowth.Theaggregateassessedvalueofalltaxable propertieswithinataxingjurisdiction(i.e.,afterapplyingassessmentratiosbasedontheuseofaproperty), 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 purposesbeginningfiscalyear2015Ͳ16.Aggregateassessedvaluewithoutagrowthlimitiscurrentlyreferred toasnetfullcashassessedvalueandformerlyassecondaryassessedvalue.Thisremainsthevalueutilizedfor determiningdebtcapacitylimits. Page 155 CityofGoodyear NetPositionbyComponent LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2014** 2015 2016 2017 GovernmentalActivities Netinvestmentincapitalassets Restricted Unrestricted TotalGovernmentalActivitiesNetPosition $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 $379,899,821 90,497,505 16,944,442 487,341,768 BusinessͲtypeActivities Netinvestmentincapitalassets Restricted Unrestricted TotalBusinessͲtypeActivitiesNetPosition 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 7,380,491 206,152,372 181,242,982 21,072,234 15,974,822 218,290,038 PrimaryGovernment Netinvestmentincapitalassets Restricted Unrestricted TotalPrimaryGovernmentNetPosition 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 $679,316,405 561,142,803 111,569,739 32,919,264 $705,631,806 Notes: **NetpositionadjustedforadoptionofGASBStatementNo.68 Source:StatementofNetPosition Page 156 Table1 FiscalYear 2018 2019 2020 2021 2022 2023 $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 $547,891,870 147,023,829 184,912,404 879,828,103 199,032,946 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 31,984,374 329,615,357 284,640,676 22,470,097 28,109,835 335,220,608 580,506,208 100,904,084 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 $1,125,187,753 832,532,546 169,493,926 213,022,239 $1,215,048,711 Page 157 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) 2014 2015 2016 2017 2018 Expenses** GovernmentalActivities: Generalgovernment Publicsafety Highwaysandstreets Publicworks Cultureandrecreation Developmentservices InterestonlongͲtermdebt TotalGovernmentalActivitiesExpenses $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 $23,781,937 45,439,446 26,460,464 4,232,567 19,080,188 6,591,111 11,582,014 $137,167,727 BusinessͲtypeActivities Waterandwastewater Sanitation Stadium* TotalBusinessͲtypeActivitiesExpenses $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 $26,853,794 6,206,843 Ͳ $33,060,637 TotalPrimaryGovernmentExpenses $133,527,997 $138,652,327 $153,403,268 $161,257,804 $170,228,364 Notes: ** Beginninginfiscalyear2016expensefunctionswereconsolidatedtoalignwiththebasicfinancialstatement Source:StatementofActivities Page 158 Table2 2019 2020 2021 2022 2023 $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 $38,061,902 72,526,205 24,863,132 8,052,159 33,318,763 15,613,064 9,537,281 $201,972,506 $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 $49,903,049 7,486,417 Ͳ $57,389,466 $179,459,602 $202,437,659 $219,246,675 $234,479,643 $259,361,972 continued Page 159 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2014 2015 2016 2017 2018 ProgramRevenue* GovernmentalActivities: ChargesforServices: Generalgovernment Publicsafety Highwayandstreets Publicworks Cultureandrecreation Developmentalservices OperatingGrantsandContributions CapitalGrantsandContributions TotalGovernmentalActivitiesProgramRevenues $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 $2,592,414 1,373,556 81,727  Ͳ 2,984,530 10,416,143 16,164,698 7,442,815 $41,055,883 BusinessͲtypeActivities ChargesforServices: Waterandwastewater Sanitation Stadium* OperatingGrantsandContributions CapitalGrantsandContributions TotalBusinessͲtypeActivitiesRevenues $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 $35,203,483 7,812,267  Ͳ  Ͳ 12,237,823 55,253,573 TotalPrimaryGovernmentRevenues $63,940,538 $77,456,723 $82,081,043 $91,053,145 $96,309,456 Net(Expense)/Revenue GovernmentalActivities BusinessͲtypeActivities TotalPrimaryGovernmentNetRevenues $(67,626,617) $(65,761,779) $(73,470,355) $(86,561,338) $(96,111,844) (1,960,842) 4,566,175 2,148,130 16,356,679 22,192,936 $(69,587,459) $(61,195,604) $(71,322,225) $(70,204,659) $(73,918,908) Note: *Beginninginfiscalyear2016programrevenueswereconsolidatedtoalignwiththebasicfinancialstatements Source:StatementofActivities Page 160 Table2 FiscalYear 2019 2020 2021 2022 2023 $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 $1,857,785 1,914,488 118,143 120,113 3,411,962 15,933,323 16,677,690 36,800,110 $76,833,614 $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 $53,005,605 8,802,201  Ͳ  Ͳ 7,594,454 69,402,260 $124,463,452 $149,761,057 $175,683,704 $170,728,236 $146,235,874 $(80,501,689) $(80,584,904) $(86,039,840) $(79,565,201) $(125,138,892) 25,505,539 27,908,302 42,476,869 15,813,794 12,012,794 $(54,996,150) $(52,676,602) $(43,562,971) $(63,751,407) $(113,126,098) continued Page 161 CityofGoodyear ChangesinNetPosition LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2014 RevenuesandOtherChangesin NetPosition GovernmentalActivities: Taxes Intergovernmental Investmentincome Specialassessments* Miscellaneous Transfers SpecialitemͲLossondebtextinguishment TotalGovernmentalActivities 2015 2016 2017 $63,495,983 $66,223,459 $71,256,446 $74,899,373 15,285,440 16,361,588 16,848,837 20,019,457 414,689 361,146 710,040 560,547 2,189,906 4,980,000 Ͳ Ͳ 1,183,618 975,258 393,977 886,502 (5,138,252) (582,797) (5,564,606) 2,800,000 Ͳ Ͳ Ͳ Ͳ $77,431,384 $88,318,654 $83,644,694 $99,165,879 2018 $82,662,446 19,967,694 1,196,857 Ͳ 341,814 3,700,000 (36,893) $107,868,811 BusinessͲtypeActivities Investmentincome Proceedsfromthesaleofwaterrights Miscellaneous Transfers TotalBusinessͲtypeActivities $136,531 Ͳ 222,911 5,138,252 $5,497,694 TotalPrimaryGovernment $82,929,078 $89,156,338 $89,469,870 $96,520,060 $104,253,081 ChangesinNetPosition GovernmentalActivities BusinessͲtypeActivities TotalPrimaryGovernment $9,804,767 $22,556,875 $10,174,339 $12,604,541 $11,756,967 3,536,852 5,403,859 7,973,306 13,710,860 18,577,206 $13,341,619 $27,960,734 $18,147,645 $26,315,401 $30,334,173 $151,405 Ͳ 103,482 582,797 $837,684 $237,615 Ͳ 22,955 5,564,606 $5,825,176 Note: *Priortofiscalyear2014SpecialAssessmentswereshowninPublicWorksͲCapitalGrantsandContributions Source:StatementofActivities Page 162 $123,100 $47,246 Ͳ Ͳ 31,081 37,024 (2,800,000) (3,700,000) $(2,645,819) $(3,615,730) Table2 FiscalYear 2019 2020 2021 $90,314,174 21,244,412 4,661,685 Ͳ 934,949 3,700,000 Ͳ $120,855,220 $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 2022 2023 $154,920,196 $151,737,382 29,850,191 39,382,895 (3,080,671) 9,654,094 Ͳ Ͳ 1,240,870 1,064,227 8,015,934 7,556,001 Ͳ Ͳ $190,946,520 $209,394,599 $1,595,877 $1,800,177 $(461,996) $33,866 $1,093,207 Ͳ Ͳ Ͳ Ͳ Ͳ 40,902 Ͳ 113,950 35,570 55,251 (3,700,000) (3,499,244) (6,900,553) (8,015,934) (7,556,001) $(2,063,221) $(1,699,067) $(7,248,599) $(7,946,498) $(6,407,543) $118,791,999 $146,399,298 $165,312,794 $183,000,022 $202,987,056 $40,353,531 $67,513,461 $86,521,553 $111,381,319 $84,255,707 23,442,318 26,209,235 35,228,270 7,867,296 5,605,251 $63,795,849 $93,722,696 $121,749,823 $119,248,615 $89,860,958 concluded Page 163 Page 164 Table3 CityofGoodyear GovernmentalActivitiesTaxRevenuesBySource LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) StateSharedRevenuesͲnot RestrictedforSpecificPrograms Fiscal Year Property Taxes Sales& UseTaxes Franchise Taxes StateShared Sales StateRevenue Sharing HighwayUser Revenue 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 $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 31,543,708 $43,775,464 45,333,649 49,309,600 52,085,570 58,831,503 64,940,363 89,722,744 108,495,439 122,858,885 115,585,674 $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 4,608,000 $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 20,083,986 $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 19,298,909 $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 8,288,543 Source:CityFinancialRecordsandReports Page 165  CityofGoodyear ExciseTaxCollections LastTenFiscalYears (accrualbasisofaccounting) (Unaudited) FiscalYear 2014 2015 2016 2017 2018 CityPrivilege(Sales)Tax StateͲSharedSalesTax StateͲSharedIncomeTax StateͲShareVehicleLicenseTax FinesandForfeitures FranchiseTaxes $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 $58,831,503 7,151,224 9,613,508 3,202,962 1,044,317 3,181,840 Total $62,556,655 $65,273,754 $69,829,255 $75,941,517 $83,025,354 Source:CityFinancialRecordsandReports Page 166 Table4 FiscalYear 2019 2020 2021 2022 2023 $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 $115,585,674 15,038,266 19,298,909 5,045,720 1,061,724 4,608,000 $90,503,404 $116,584,865 $139,631,307 $157,728,198 $160,638,293 Page 167 CityofGoodyear Sales&UseTaxes byIndustryClassification LastTenFiscalYears (Unaudited) FiscalYear 2014 2015 2016 2017 2018 RetailTrade FoodforHomeComsumption RetailSalesSingleItemOver$5,000 OnlineMarketplace Construction Restaurant&Bar Utilities RealEstate UseTax Hotels Miscellaneous $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 $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 Services Mining&Government Manufacturing WholesaleTrade 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 N/A N/A N/A N/A Total* $43,103,277 $44,763,917 $48,730,473 $50,880,744 $56,613,413 Note:TotalmaydifferfromGovernmentalActivitiesTaxRevenuesBySourcebecauseof differenceinreportingperiods. Source:ArizonaDepartmentofRevenueNorthAmericanIndustryCodeSystem(NAICS)&BusinessClassSummary Page 168 Table5 FiscalYear 2019 2020 2021 2022 2023 $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 $32,892,536 5,952,702 2,335,404 4,937,819 36,609,772 16,218,406 5,951,167 12,418,051 4,121,706 2,436,295 779,634 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 $65,206,263 $89,088,402 $107,763,744 $122,124,474 $124,653,491 Page 169 CityofGoodyear FundBalancesofGovernmentalFunds LastTenFiscalYears (modifiedaccrualbasisofaccounting) (Unaudited) FiscalYear 2014 GeneralFund Nonspendable: Advancestootherfunds Inventories Prepaiditems Restrictedby: Chartermandates Court Lawenforcement Transit Assignedto: ITreplacement Facilitiesassetmgmtplan Fleetreplacement Riskmanagement Parksmanagement Policeassetreserve Fireassetreserve Trafficsignalreserve GeneralFundFY2022Budget Unassigned TotalGeneralFund 2015 2016 2017 2018 $961,840 $961,840 $961,840 $1,251,242 $1,045,531 25,261 21,656 Ͳ Ͳ Ͳ 504,865 573,473 667,798 683,056 758,946 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 4,377,576 238,965 432,662 1,064,752 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 1,956,201 Ͳ 4,504,416 888,212 3,033,620 134,146 454,872 74,699 Ͳ 60,552,115 $53,795,585 $60,181,980 $65,756,477 $70,352,362 $79,516,713 AllOtherGovernmentalFunds Nonspendable: Inventories $650,344 $487,413 $564,639 $533,304 $553,663 Prepaiditems Ͳ Ͳ Ͳ Ͳ Ͳ Restrictedby: Debtservice 14,848,703 13,810,210 12,989,198 13,219,610 5,576,920 Developmentimpactfees 7,892,792 9,833,566 12,882,857 12,428,141 19,453,023 Grants Ͳ Ͳ Ͳ Ͳ Ͳ Highwayuserfunds 47,570 174,025 721 37,130 Ͳ Tourism Ͳ Ͳ Ͳ Ͳ Ͳ Transit Ͳ Ͳ Ͳ Ͳ 35,863 Capitalprojects 274,106 4,414,851 Ͳ 9,869,218 21,876,083 Communityfacilitiesdistrictsoperations 803,837 1,109,573 1,434,106 1,846,863 2,442,864 Ambulance Ͳ Ͳ Ͳ Ͳ Ͳ Committed Ͳ Ͳ Ͳ 1,647,416 1,963,850 BallPark Ͳ Ͳ Ͳ Ͳ Ͳ Unassigned (73,354) (66,487) (28,737) (105,729) (22,755) TotalAllOtherGovernmentalFunds $24,443,998 $29,763,151 $27,842,784 $39,475,953 $51,879,511 Note: *Startingwithfiscalyear2011,fundbalanceswerestatedinclassificationrequiredbyGASBStatementNo.54 Source:CityFinancialRecordsandReports Page 170 Table6 FiscalYear 2019 2020 2021 2022 2023 $Ͳ $Ͳ $Ͳ $Ͳ $Ͳ 311,940 210,154 283,305 299,683 171,959 1,402,473 2,134,415 2,159,059 Ͳ 472,374 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 Ͳ 569,500 529,685 1,478,684 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 3,099,030 3,322,634 11,236,256 750,000 4,332,181 Ͳ 619,608 1,694,480 148,278,700 35,053,964 $92,786,879 $124,559,162 $147,253,140 $179,061,758 $211,609,055 $678,548 $497,974 $521,217 $1,027,794 $1,259,339 Ͳ Ͳ Ͳ 323,750 5,913,772 5,945,421 2,277,075 3,323,230 3,102,030 29,633,601 43,001,310 55,713,143 80,340,543 91,525,059 Ͳ Ͳ Ͳ Ͳ 48,049 Ͳ Ͳ 70 Ͳ 361,311 Ͳ Ͳ 62,500 164,112 249 Ͳ Ͳ Ͳ Ͳ 43,953,339 40,471,387 38,019,761 26,425,693 19,386,727 10,164,456 9,978,487 5,643,082 6,586,516 6,675,008 Ͳ Ͳ Ͳ Ͳ 406,739 2,555,378 Ͳ 3,043,242 3,729,087 4,754,655 5,301,702 (188,894) (501,057) (150,748) (374,937) (18,885) $92,710,449 $102,436,764 Page 171 $105,815,187 $122,571,356 $128,047,079 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 2014 2015 2016 2017 2018 $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 $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 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 20,825,896 39,779,006 5,517,174 2,897,716 11,315,720 7,159,767 30,366,883 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 19,642,573 15,708,001 4,622,056 157,834,792 4,556,722 11,802,040 8,730,326 (18,107) (10,350,168) Notes: * Beginninginfiscalyear2016expenditurefunctionswereconsolidatedtoalignwiththebasicfinancialstatements Source:StatementofRevenues,ExpendituresandChangesinFundBalances Page 172 Table7 FiscalYear 2019 2020 2021 $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 $151,767,894 16,654,379 16,403,295 58,325,325 54,932,234 24,108,155 23,929,640 1,138,437 1,061,724 (3,080,671) 9,483,329 6,357,266 5,603,254 3,454,890 4,585,504 1,842,263 1,768,849 263,624,884 269,535,723 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 31,308,086 62,746,423 8,323,809 5,835,433 24,418,658 14,869,850 61,318,087 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 24,391,744 10,536,075 Ͳ 243,748,165 2022 2023 15,223,897 37,178,252 (26,750,450) 13,346,432 25,787,558 continued Page 173 CityofGoodyear ChangesinFundBalancesofGovernmentalFunds LastTenFiscalYears (modifiedaccrualbasisofaccounting) (Unaudited) FiscalYear 2014 OtherFinancingSourcesand(Uses) Transferin Transferout Saleofassets* Debtissuance Debtpremium Refundingbonds Refundingbondspremium Paymenttorefundedbondescrowagent 2015 2016 2017 2018 $5,356,364 $4,588,019 $3,539,227 $12,768,632 $13,901,429 (10,494,616) (9,923,248) (9,091,060) (9,968,632) (10,201,429) Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 4,980,000 Ͳ 10,968,000 25,015,000 Ͳ (39,461) Ͳ Ͳ Ͳ 14,755,000 7,015,000 18,535,000 118,130,941 51,537,627 1,114,908 452,099 2,047,350 14,546,606 722,171 (15,138,166) (7,168,901) (20,106,713) (130,387,703) (49,056,702) TotalOtherFinancingSources and(Uses) (4,406,510) (96,492) (5,076,196) 16,057,844 31,918,096 NetChangeinFundBalances $150,212 $11,705,548 $3,654,130 $16,039,737 $21,567,928 DebtServiceasaPercentageof NoncapitalExpenditures 22.3% 20.6% 18.4% 22.9% Notes: * Beginninginfiscalyear2019salesofassetswasbrokenouttoalignwiththebasicfinancialstatements. Source:CityFinancialRecordsandReports Page 174 23.6% Table7 FiscalYear 2019 2020 2021 2022 2023 $17,954,246 $28,400,983 $45,929,762 $62,317,732 $41,468,250 (14,254,246) (24,901,739) (39,029,209) (54,301,798) (33,912,249) 346,124 291,817 213,803 413,605 250,461 33,873,000 529,285 39,530,000 24,073,000 4,429,000 958,083 Ͳ Ͳ 2,715,816 Ͳ Ͳ Ͳ 25,520,000 Ͳ Ͳ Ͳ Ͳ 5,859,505 Ͳ Ͳ Ͳ Ͳ (25,201,010) Ͳ Ͳ 38,877,207 4,320,346 52,822,851 35,218,355 12,235,462 $54,101,104 $41,498,598 $26,072,401 $48,564,787 $38,023,020 24.8% 21.6% 20.4% 18.8% 17.9% concluded Page 175 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1.1994 1.1836 1.1637 1.1598 1.1344 1.1084 1.0619 1.0330 1.0000 0.9957 1.9000 1.8700 1.8700 1.8623 1.7349 1.7350 1.7332 1.7335 1.7350 1.7350 1.2807 1.3209 1.3609 1.4009 1.4009 1.4009 1.4009 1.4009 1.3459 1.2473 0.0438 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0556 0.0505 0.0121 0.0113 0.0116 0.0112 0.0102 0.0107 0.0095 0.0090 0.0086 0.0082 0.1392 0.1392 0.1592 0.1792 0.1792 0.1792 0.1792 0.1792 0.1792 0.1592 0.7006 0.6864 0.7063 0.7025 0.6005 0.6266 0.6713 0.7005 0.7350 0.7393 Source:MaricopaCountyAssessor'sOffice Page 176 0.5123 0.5089 0.5054 0.5010 0.4875 0.4741 0.4566 0.4426 0.4263 Ͳ continued Table8 OverlappingRates SchoolDistricts CountyͲWideJurisdictions Special Central Health Fiscal Year Community Arizona College Project Rate Rate Care District Rate Total County Rate 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1.5340 1.5187 1.4940 1.4651 1.4096 1.1708 1.1565 1.1250 1.1112 1.0865 Ͳ Ͳ Ͳ 0.3053 0.2941 0.2941 0.1871 0.1838 0.1803 0.1773 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 2.8690 6.8083 0.1400 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 3.9772 3.7780 3.8352 3.8142 3.4763 3.8499 3.6716 3.5229 3.4950 3.3035 7.1092 8.0102 7.6149 7.0163 7.0616 6.8080 6.6742 8.8758 9.3434 9.5365 11.4641 10.4333 9.9303 9.5342 9.8185 10.0261 10.6716 10.2551 10.1994 9.4401 Mobile Rate 7.7572 7.8876 7.8876 8.1213 7.8876 7.8876 7.8876 7.8876 7.5960 7.3920 continued Page 177 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0.0592 0.0810 0.0698 0.0840 0.1780 0.1494 0.1634 0.1655 0.1579 0.1538 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 17.1000 27.1000 27.1000 27.1000 27.1000 29.8100 29.8100 29.8100 29.8100 36.8100 3.3559 3.0361 3.1327 2.7404 2.6706 2.5823 2.4421 2.1576 1.8888 1.7302 2.8500 2.6034 2.5999 2.3824 1.8877 1.8664 1.8994 1.9843 1.5848 1.5846 3.9890 3.2768 3.3377 3.0482 2.5714 2.5413 2.5400 2.5443 1.9407 1.9397 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 1.3000 continued Page 178 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1.0000 0.7334 0.7075 0.8466 0.9600 0.8896 0.8903 0.9040 0.7679 0.7568 1.0000 1.0162 1.1497 1.1500 1.1500 1.1480 0.9390 0.9039 0.8559 0.8428 1.7844 1.2592 1.1097 0.9308 0.8682 0.8085 0.6107 0.5450 0.4647 0.4149 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 0.3000 3.4365 2.7761 2.9103 2.7230 2.8882 2.8489 2.6309 2.5582 2.3306 1.4600 3.8922 3.0227 3.1070 2.9330 3.0463 2.7801 2.7362 2.7278 2.3779 2.3020 concluded Page 179 Page 180 Table9 CityofGoodyear PrincipalPropertyTaxPayers CurrentFiscalYearandNineYearsPrior (Unaudited) FiscalYear 2023 2014 Percentageof TotalTaxable Assessed Rank Value Percentageof TotalTaxable Assessed Value Taxable Assessed Value Rank 3.59% $35,938,715 1 2.78% MicrosoftCorporation 0.00% 23,843,088 2 1.84% EstrellaNorthLLC 0.00% 21,280,466 3 1.64% 1.49% 19,563,586 4 1.51% 0.00% 12,599,388 5 0.97% 0.77% 11,560,728 6 0.89% PrologisCommercePark1QOZBLLC 0.00% 11,465,213 7 0.89% AmazonComServicesLLC 0.00% 10,566,185 8 0.82% 0.75% 9,910,247 9 0.77% 0.00% 9,050,668 10 0.70% Taxpayer ArizonaPublicServiceCompany VHSofSouthPhoenix,Inc. Taxable Assessed Value 21,162,543 1 $8,804,731 2 ElwoodLogisticsCenterLLC Macy'sRetailHoldings,Inc SouthwestGasCorporation $4,549,039 5 $4,407,420 6 SVFGoodyearLogisticsCenterLLC NNPIIIEMR3LLC $3,965,581 9 0.67% 0 DHGoodyearLLC $4,407,079 7 0.75% 0 CardinalCapitalCo $5,479,527 4 0.93% 0 FirstAmericanTitleInsCoTR7854 $5,856,271 3 0.99% 0 TheMarketatEstrellaFallsLLC $4,281,840 8 0.73% 0 TPP211CanyonTrails,LLC $3,372,530 10 0.57% 0 Total $66,286,561 10.94% Source:MaricopaCountyTreasurer Page 181 $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 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 2023 LimitedPropertyValue 791,650,225 469,401,672 193,213,508 24,338,329 163,409,387 1,315,194,347 Notes:Beginninginfiscalyear2016,theNetAssessedLimitedPropertyValueisstatutorilyrequiredtobeusedforthecalculationof primaryandsecondarypropertytaxes.Priortofiscalyear2016,theprimarylevywascalculatedusingthelimitedassessedvaluation andthesecondarylevywascalculatedusingthefullcashassessedvaluation.Detaildatapriorto2009for"primary"isnotavailable. Source:MaricopaCountyAssessor'sOffice Page 182 Table10 Estimated ActualTaxable Value TotalDirect TaxRate Assessed Valueas Percentageof ActualValue 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% 1.7350 12,358,511,781 10.6% Page 183 Table11 CityofGoodyear PropertyTaxLeviesandCollections LastTenFiscalYears (Unaudited) Fiscal Year TaxesLevied Ended forthe June30 FiscalYear(a) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Collectedwithinthe FiscalYearoftheLevy Amount 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 22,821,653 22,501,541 Collectionin Percentage Subsequent ofLevy Years 97.89% 98.47% 98.35% 98.99% 98.78% 98.83% 98.61% 98.08% 97.96% 98.60% TotalCollectionstoDate Amount 47,683 10,997,298 85,562 11,894,126 39,963 12,432,112 (8,480) 13,016,452 77,375 13,148,560 (12,338) 14,084,795 162,410 15,922,438 298,374 17,827,089 148,583 19,888,839 Ͳ 22,501,541 Percentage ofLevy 98.32% 99.18% 98.67% 98.93% 99.36% 98.75% 99.63% 99.75% 98.70% 98.60% (a)TaxlevyisreportedbytheTreasurerasofAugustofeachfiscalyear.Amountdoesnot includeadjustmentsmadetolevyamountsaftertheAugustreport. Source:MaricopaCountyTreasurer'sOffice Page 184 Table12 CityofGoodyear UtilityStatisticalData TenLargestWaterUsers CurrentFiscalYearandNineFiscalYearsAgo (Unaudited) FiscalYear  Entity CityofGoodyear LasBrisasCommunityAssoc CanyonTrailsHOAUnit4 CottonflowerGoodyearCommunity CanyonTrailsUnitHOA4West AvondaleElementarySchoolDist. CanyonTrails4ͲSouth AguaFriaUnionHighSchoolDist. ShepardInvestment EstrellaJointCommittee CanyonTrailsHOA SarivalPaseoJointCommunity CancerTreatmentCenter CanyonTrailsHOAUnit3 TypeofUser MultiPurpose Homeowner'sAssociation Homeowner'sAssociation Homeowner'sAssociation Homeowner'sAssociation School Homeowner'sAssociation School Apartments Homeowner'sAssociation Homeowner'sAssociation Homeowner'sAssociation Hospital Homeowner'sAssociation Total TotalasapercentoftotalWaterSystemOperatingRevenue Source:Citycustomerserviceandbillingrecords Page 185 2014 Fees& Charges 2023 Fees& Rank Rank Charges 1 1,099,926 4 183,968 2 549,698 6 172,476 3 380,347 3 189,669 4 361,503 5 344,706 7 161,255 6 306,106 1 271,111 7 281,362 5 177,269 8 270,968 9 270,697 10 220,220 2 269,397 8 154,686 9 127,419 10 114,454 $1,821,703 $4,085,533 14.63% 12.96% Page 186 Table13 CityofGoodyear UtilityStatisticalData TenLargestWastewaterUsers CurrentFiscalYearandNineFiscalYearsago (Unaudited) FiscalYear Entity ArizonaStatePrison/Perryville MicrosoftCorporation CityofGoodyear ShepardInvestGroup Huhtamaki AirportMasterMeter JBParkShadows SchoellerArcaSystemsInc SerafinaApartmentsSPE,LLC RichmondAmericanHomes CancerTreatmentCenter FairfieldCenterraLLC FairfieldGoodyearLLC HSLEncantadaGoodyearLLC PooreBrothers,Inc. PemInvestments AirportTrainingCenter TypeofUser Prison Commercial MultiPurpose Apartments Irrigation Airport Apartments 5 Manufacturer 9 Apartments RealEstate Hospital 2 RealEstate 3 Apartments 4 Apartments 6 FoodManufacturer,Snac 7 Apartments 8 Airport 10 Total TotalasapercentoftotalWastewaterSystemOperatingRevenue Source:Citycustomerserviceandbillingrecords Page 187 2014 Fees& Rank Charges 1 554,273 73,224 47,441 Rank 1 2 3 4 5 6 7 8 9 10 2023 Fees& Charges 1,258,856 361,898 112,352 102,090 94,338 86,579 77,789 72,746 68,802 61,406 99,210 77,057 76,627 51,467 50,764 50,080 46,993 $1,127,136 $2,296,856 8.96% 10.11% CityofGoodyear ScheduleofExistingandAdopted MonthlyWater&WastewaterServiceCharges(2014Ͳ2023) (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 2023 Adopted 2014 Adopted 2015 Adopted 2016 Adopted 2017 Adopted 2018 Adopted 2019 Adopted 2020 Adopted 2021 Adopted 2022 $19.67 27.20 43.98 71.20 82.40 134.36 255.00 255.00 $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 $2.28 (2) 4.53 (3) 6.81 (4) 10.94 (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 $5.37 8.59 11.14 $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(2014Ͳ2023) Date FiscalYear2014 FiscalYear2015 FiscalYear2016 FiscalYear2017 FiscalYear2018 FiscalYear2019 FiscalYear2020 FiscalYear2021 FiscalYear2022 FiscalYear2023 Rate Increase 0.0% 10.0% 13.0% 16.0% 11.0% 7.0% 6.0% 0.0% 3.0% 3.0% Source:CityFinancialRecords,ReportsandWater&WastewaterRateStudy. Thetableabovereflectsonlycertainfeesandchargesofthe City'swatersystemandisnotacomprehensivestatementofallsuchfees. Page 188 Table14 ExistingFees 2023 DescriptionofWastewaterSystemService ResidentialWastewaterService BaseCharge (Seebelow) VolumeCharge(per1,000gallons) $6.91 Adopted 2014 Adopted 2015 Adopted 2016 Adopted 2017 Adopted 2018 Adopted 2019 Adopted 2020 Adopted 2021 Adopted 2022 $5.78 $5.95 $5.95 $6.13 $6.25 $6.38 $6.51 $6.51 $6.71 GeneralCommercialWastewaterService BaseCharge VolumeCharge(per1,000gallons) $6.91 $5.78 $5.95 $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 $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 $25.23 38.71 47.70 92.67 122.24 162.17 401.76 ScheduleofWastewaterSystemRateIncreases(2014Ͳ2023) Date FiscalYear2014 FiscalYear2015 FiscalYear2016 FiscalYear2017 FiscalYear2018 FiscalYear2019 FiscalYear2020 FiscalYear2021 FiscalYear2022 FiscalYear2023 Page 189 Rate Increase 0.0% 0.0% 3.0% 3.0% 2.0% 2.0% 2.0% 0.0% 3.0% 3.0% CityofGoodyear RatiosofOutstandingDebtbyType LastTenFiscalYears (Unaudited) GovernmentalActivities Public Fiscal Year Ended June30 General Obligation Bonds Revenue Bonds Contract Payable 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 26,555,569 24,616,149 21,638,323 18,564,501 21,987,761 43,983,309 64,022,774 61,007,711 94,324,553 113,133,855 107,045,360 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 24,735,000 23,855,000 19,150,000 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Improvement McDowell Corporation Road Municipal Corridor Facilities Improvement RevenueBond District 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 50,580,000 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 17,815,000 Community Facilities District Bonds Premium Discount on on DebtPayable DebtPayable 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 65,183,000 17,955,361 (26,309) 60,628 Notes: Beginninginfiscalyear2023,theCitybeganreportingPremiums,DiscountsandFinancedPurchases Source:USCensusBureau,AppliedGeographicSolutions/TIGERGeography,andCity FinancialRecords Page 190 Financed Purchases Table15 BusinessͲTypeActivities Public Improvement Water Corporation General Obligation Bonds Municipal Facilities RevenueBond 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 34,294,640 102,180,000 104,096,689 103,970,274 104,164,132 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Page 191 Infrastructure Revenue Bonds Premium Discount on on DebtPayable DebtPayable 31,390,000 30,596,520 30,114,933 42,413,304 41,924,131 40,489,966 37,175,000 153,719,816 139,065,000 137,125,000 135,100,000 14,974,174 Ͳ Finance Authority Loan Water Rights Total 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 1,902,451 Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ Ͳ 421,153,409 412,112,868 401,866,908 396,467,521 402,876,674 396,722,470 370,268,341 481,641,891 460,112,920 456,461,362 464,034,305 Percentage ofPersonal Income Per Capita 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 11.69% 4,374 Table16 CityofGoodyear RatiosofGeneralBondedDebtOutstanding LastTenFiscalYears (Unaudited) Percentage Fiscal Year Ended June30 General Obligation Bonds Less:Amounts Available inDebt ServiceFund Total 2014 2015 2016 106,730,122 99,245,534 91,582,861 98,876 Ͳ 13,202 106,631,246 99,245,534 91,569,659 18.07% 15.01% 13.65% 1,494 1,344 1,225 2017 2018 2019 2020 2021 2022 2023 88,690,440 102,209,474 112,980,000 109,517,110 134,805,000 150,555,000 141,340,000 703,557 778,715 229,724 229,320 786,066 1,030,090 247,885 87,986,883 101,430,759 112,750,276 109,287,790 134,018,934 149,524,910 141,092,115 12.38% 13.29% 13.72% 11.85% 13.00% 12.88% 10.73% 1,131 1,215 1,332 1,230 1,406 1,471 1,330 Source:CityFinancialRecordsandReports Page 192 Estimated ActualTaxable Valueof Property Per Capita Table17 CityofGoodyear DirectandOverlappingGovernmentalActivitiesDebt AsofJune30,2023 (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 CommunityFacilitiesUtilitiesDistrictNo.1 EstrellaMountainRanchCommunityFacilitiesDistrict CottonflowerCommunityFacilitiesDistrict CenterraCommunityFacilitiesDistrict CortinaCommunityFacilitiesDistrict PalmValleyCommunityFacilitiesDistrict Subtotalofoverlappingdebt: $51,575,018,185 $Ͳ 51,575,018,185 135,585,000 51,932,898,351 600,335,000 19,300,490,997 130,195,000 380,322,967 51,340,000 599,104,380 37,400,000 348,508,078 46,755,000 1,226,791,462 38,085,000 9,200,008 None 298,365,928 64,865,000 1,607,350,531 240,430,000 1,825,895,664 115,060,000 6,060,497 None 6,119,028 260,000 150,706,149 4,360,000 496,435,574 23,690,000 147,681,674 6,985,000 11,507,992 1,000,000 18,836,246 2,046,000 12,860,470 1,230,000 163,005,225 3,725,000 $181,692,177,591 $1,503,346,000 2.51 % $Ͳ 2.51 3,401,385 2.49 14,956,660 6.70 8,727,894 58.79 30,182,786 86.78 32,455,720 0.02 9,819 44.99 17,134,442 47.47 None 23.50 15,243,275 0.005 12,022 59.53 68,495,218 100.00 None 100.00 260,000 100.00 4,360,000 100.00 23,690,000 100.00 6,985,000 100.00 1,000,000 100.00 2,046,000 100.00 1,230,000 100.00 3,725,000 $233,915,220 DirectDebt: CityofGoodyear $1,293,848,816 100.00 % $431,070,451 $431,070,451 TotalDirectandOverlappingDebt TotalGovernmentalandBusinessͲTypeGeneralObligationBonds $664,985,671 $141,340,000 100.00 % $141,340,000 (a)ProportionapplicabletotheCityofGoodyear,Arizonaiscomputedontheratioofnetassessedlimitedpropertyvalue for2022/23 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 193 CityofGoodyear LegalDebtMarginInformation FortheFiscalYearsEndingJune30, (Unaudited) FiscalYear 2014 2015 2016 2017 NetFullCashAssessedValue $590,258,652 $659,588,897 $670,952,898 $871,205,504 20%Limitation DebtLimitEqualto20%ofAssessed Valuation 118,051,730 131,917,779 134,190,580 174,241,101 TotalDebtApplicableto20%Limit 104,775,000 97,570,000 90,065,000 106,130,000 Legal20%DebtMargin(Available BorrowingCapacity) $13,276,730 $34,347,779 $44,125,580 $68,111,101 Totalnetdebtapplicabletothelimit asapercentageofdebtlimit 88.75% 73.96% 67.12% 60.91% 6%Limitation DebtLimitEqualto6%ofAssessed Valuation $35,415,519 $39,575,334 $40,257,174 $52,272,330 TotalDebtApplicableto6%Limit 250,000 220,000 205,000 190,000 Legal6%DebtMargin(Available BorrowingCapacity) $35,165,519 $39,355,334 $40,052,174 $52,082,330 0.71% 0.56% 0.51% 0.36% Totalnetdebtapplicabletothelimit asapercentageofdebtlimit Source:MaricopaCountyTreasurer'sOfficeandCityfinancialrecordsandreports Page 194 Table18 FiscalYear 2018 2019 2020 2021 2022 2023 $964,201,508 $1,043,418,163 $1,183,659,155 $1,360,568,112 $1,586,384,072 $1,771,783,740 192,840,302 208,683,633 236,731,831 272,113,622 317,276,814 354,356,748 97,065,000 112,980,000 102,605,000 95,275,000 114,070,000 108,255,000 $95,775,302 $95,703,633 $134,126,831 $176,838,622 $203,206,814 $246,101,748 50.33% 54.14% 43.34% 35.01% 35.95% 30.55% $57,852,090 $62,605,090 $71,019,549 $81,634,087 $95,183,044 $106,307,024 Ͳ Ͳ Ͳ 39,530,000 36,485,000 33,085,000 $57,852,090 $62,605,090 $71,019,549 $42,104,087 $58,698,044 $73,222,024 0.00% 0.00% 0.00% 48.42% 38.33% 31.12% Page 195 Table19 CityofGoodyear PledgedͲRevenueCoverage FortheFiscalYearsEndingJune30, (Unaudited) PublicImprovementCorporationMunicipalFacilitiesRevenueBonds Fiscal Year Ended Operating Pledged June30 Revenue Revenue Principal Interest 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 81,109,035 82,672,164 87,880,128 95,623,345 107,069,770 116,486,271 152,851,661 167,084,631 191,216,325 198,125,275 62,768,755 59,861,110 67,903,484 68,619,826 69,446,051 116,789,415 116,812,121 139,901,726 158,008,523 160,955,757 85,000 230,000 235,000 3,220,000 3,500,000 5,840,000 6,110,000 6,920,000 7,787,680 3,381,236 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 2,302,727 DebtService Coverage 10.85 10.52 11.94 9.95 8.46 11.23 11.22 13.43 15.14 28.32 Water&SewerBonds&Loans Fiscal Year Less: Net Ended Operating Operating Operating June30 Revenue Expenses Revenue Principal Interest 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 53,005,605 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 31,754,447 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 21,251,158 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 2,320,674 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 5,295,390 Source:CityFinancialRecordsandReports Page 196 DebtService Coverage 3.37 3.09 3.49 3.27 5.37 6.36 9.72 4.02 2.69 2.79 Table20 CityofGoodyear DemographicandEconomicStatistics LastTenFiscalYears (Unaudited) Personal PerCapita Education Fiscal Year Population Income (inthousands) Personal Income Median Age 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 73,832 74,743 77,776 78,189 83,512 84,659 88,870 95,294 101,662 106,090 $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 $3,969,888 $25,459 $26,784 $24,069 $27,599 $29,263 $30,893 $32,355 $32,355 $34,968 $37,420 36.5 35.6 36.7 36.7 37.1 37.1 38.2 38.7 38.7 38.7 Source:BureauofLaborStatisticsandCityFinancialRecords Page 197 LevelinYears ofSchooling Unemployment Rate 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 13to16 7.2% 5.7% 5.5% 4.4% 4.2% 4.8% 9.4% 6.9% 3.6% 4.1% Table21 CityofGoodyear PrincipalEmployers CurrentFiscalYearandNineFiscalYearsPrior (Unaudited) MajorCorporation FiscalYear FiscalYear 2014 2023 Percentage ofTotalCity Employees Rank Employment Percentage ofTotalCity Employees Rank Employment AmazonFulfillment 0.00% 2,260 1 4.89% UPSͲRegionalOpsCenter 0.00% 1,860 2 4.03% Chewy.com 0.00% 1,490 3 3.23% AbrazoHealthcare(WestValleyHospital) 750 2 2.16% 1,150 4 2.49% Macys 600 4 1.73% 1,020 5 2.21% 511 5 1.47% 904 6 1.96% 0.00% 569 7 1.23% CityofGoodyear MeyerBerger SubzeroFreezerCo 428 7 1.23% 510 8 1.10% CityofHope(CancerTreatmentCentersofAmerica) 650 3 1.87% 500 9 1.08% 0.00% 420 10 0.91% MlilyUSA ArizonaStatePrison/Perryville 825 1 2.38% Amazon.com 500 6 1.44% McLaneWest 360 8 1.04% Aeroturbine 300 9 0.86% LockheedMartin 250 10 0.72% Total 5,174 14.91% 10,683 Source:CityRecords(EmploymentnumbersareselfͲreported;doesnotincludegrocery/retailstores) 2023laborforce=46,189;2014laborforce=34,709 Page 198 23.13% Table22 CityofGoodyear FullͲtimeEquivalentCityGovernmentEmployeesbyFunction LastTenFiscalYears (Unaudited) FiscalYear 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 GeneralGovernment FinancialServices InformationServices Police Officers Civilians PlanningandDevelopment Fire FirefightersandOfficers Civilians HumanResources CommunityServices EconomicDevelopment MunicipalServices PublicWorks Water Wastewater Sanitation Total 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 34 111 34 36 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 65 148 58 64 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 11 138 24 18 0 11 24 148 37 40 14 487 527 531 548 572 644 680 706 837 904 Source:CityFinancialRecordsandReports Page 199 CityofGoodyear OperatingIndicatorsbyFunction LastTenFiscalYears (Unaudited) Function 2014 2015 2016 2017 GeneralGovernment CityClerk'sOffice #ofrecordsrequests 504 598 629 770 CityProsecutor'sOffice Chargesfiled/chargesadjudicated(resolved) 3,170 3,623 3,608 4,261 CityManager'sOffice %ofsurveyrespondentsrating"YourNeighborhoodas aPlacetoLive"asgoodtoexcellent 95% 95% 93% 93% DigitalCommunications Newsreleases/mediaupdates 76 NA 88 126 GrowthofDigitalassets(Facebook,Twitter,Instagram,&Linkedincombined 114 136 144 128 Totalnewsletterpagessenttocitizens 543,565 302,777 Numberofvisitstowebsite 491,540 633,643 Numberofwebpagesviewed 1,850,471 1,855,914 1,472,765 1,500,539 Numberofgraphics/photographyprojectscompleted 275 135 103 157 Police #oftotalarrests #ofmovingviolationscitations 2,612 10,586 2,846 5,919 2,661 3,479 3,296 4,382 Fire #ofemergencyresponses #offiresextinguished #ofinspections 8,298 242 752 6,972 205 1,539 6,002 165 1,253 7,498 214 2,050 6,403 1,091 191,189 6,254 1,009 196,863 5,914 1,442 201,704 5,772 1,512 208,083 <1 3,580 <1 2,868 NA 5,610 NA 5,732 1 1 1 0.96 1 1 1 1 180 4.85% 144 5.05% 362 5.06% 204 6.00% 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) Page 200 74,527 74,527 188,000 249,000 23,151,438 23,151,438 23,151,438 23,151,438 8.76% Ͳ4.12% 3.85% 25.71% 8.86% 2.75% 4.04% Ͳ3.80% Table23 2019 2018 2020 2021 2022 2023 904 767 898 1,106 1,008 1,430 4,031 3,656 3,032 3,959 3,539 5,965 91% 95% 95% 93% 93% 86% 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 81 10,178 196 528,643 1,842,961 232 2,808 2,281 1,585 2,327 1,478 2,465 2,456 2,844 4,462 4,561 4,124 3,438 9,115 252 853 9,583 204 909 9,671 182 2,024 9,681 210 4,183 10,406 193 3,235 11,423 188 5,334 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 5,288 1,810 275,128 NA 5,228 NA 5,137 NA 1,490 NA 60 <1 1,235 NA 4,988 1 1 1 1 1 1 1 1 NA 100% NA 100% 220 3.12% 234 2.23% 143 4.44% 258 4.45% 320 4.83% 362 6.01% 275,000 299,000 283,093 266,262 1,236,522 2,069,276 23,151,438 23,151,438 23,250,000 23,295,000 23,675,000 23,675,000 11.66% 14.37% Page 201 13.50% 9.60% 37.90% Ͳ6.60% 21.00% 29.20% 13.30% 45.30% 2.10% Ͳ0.30% CityofGoodyear OperatingIndicatorsbyFunction LastTenFiscalYears (Unaudited) Function MunicipalServices #ofhomesservicedbyResidentialRefuseCollection #ofcitizensservicedbyHouseholdHazardousWaste collectionprogram 2014 2015 2016 2017 24,346 25,320 26,323 26,792 550 536 503 592 WaterService #ofresidentialcustomers #ofmultifamilycustomers #ofcommercialcustomers WaterServiceConnections Waterproductiondailypeakdemand(milliongallonsperday) ReclaimedWaterSupplied(milliongallonsperday) 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 16,713 36 846 17,899 12.90 0.38 Wastewater #ofresidentialcustomers #ofmultifamilycustomers #ofcommercialcustomers SewerServiceConnections SewageTreated(millionsgallonsperday) 14,877 36 370 16,918 4.20 15,335 69 373 17,139 3.81 16,064 36 382 18,236 4.15 16,649 36 381 18,980 4.36 OtherPublicWorks Streetresurfacing(miles) Potholesrepaired 19.20 83.23 109.00 70.33 1,166 1,253 1,339 756 Citizen&NeighborhoodResources #ofnewCodeEnforcementcasesprocessedperyear 3,018 2,863 3,544 3,212 Source:CityFinancialRecordsandReports NAͲinformationisnotreadilyavailableattimeofproduction (1)LargeincreaseisduetoaoneͲtimehiringofspecialcensusemployees (2)LargeincreaseisduetoinclusionoflibraryvisitorsinFY2016andnewRecreationCenterinFY2022 Page 202 Table23 2019 2018 2020 2021 2022 2023 29,911 29,673 29,673 31,864 33,094 34,984 816 631 418 469 361 512 17,733 36 839 18,552 12.90 0.13 19,333 19,374 20,284 21,688 22,575 38 38 39 60 91 621 636 1,054 1,025 677 19,992 20,048 21,377 21,464 21,524 12.40 13.60 15.30 16.90 16.00 NA NA NA NA NA 17,886 36 381 19,340 4.47 19,325 16 270 20,292 4.70 20,383 16 271 20,670 4.69 20,383 16 271 20,670 4.69 22,732 60 444 21,781 5.82 23,844 91 478 21,781 5.85 105.27 51.56 133.41 116.00 102.20 72.80 1,344 586 60 103 67 83 2,738 2,615 1,943 2,488 3,352 3,151 Page 203 Table24 CityofGoodyear CapitalAssetStatisticsbyFunction LastTenFiscalYears (Unaudited) Function 2014 2015 FiscalYear 2016 2017 2018 2019 2020 2021 2022 2023 PublicSafety Police: Stations PoliceVehicles FireStations 3 4 4 6 5 5 4 2 2 2 119 133 134 150 133 139 147 155 191 191 6 6 7 6 6 5 5 7 7 7 HighwaysandStreets Street(miles) Streetlights Trafficsignals 934 934 934 934 939 945 1,012 1,041 1,136 1,147 8,832 8,832 9,041 8,651 9,184 9,635 9,635 9,991 10,198 10,422 86 86 89 89 92 93 95 102 106 108 CultureandRecreation Parks ParksAcreage SwimmingPools TennisCourts Recreation/CommunityCenters 17 204 1 6 1 Water WaterMains(miles) FireHydrants Storagecapacity(MillonsofGallons) 308 308 330 336 326 330 331 353 374 508 2,808 2,951 3,031 3,152 3,177 3,348 3,461 3,475 3,575 7,310 16 16 16 16 16 16 18 18 18 16 Wastewater SanitarySewers(miles) StormSewers(miles) Treatmentcapacity(MGD)(thousandsofgallons) 239 242 254 260 265 276 270 276 284 530 63 55 54 55 N/A N/A N/A N/A 62 45 5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.3 7.6 7.6 Source:CityFinancialRecordsandReports Page 204 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 18 206 1 6 1 18 206 1 6 1 20 238 2 8 2 20 252 2 8 2 ANNUAL COMPREHENSIVE FINANCIAL REPORT City of Goodyear, Arizona Finance Department 1900 North Civic Square Goodyear, Arizona 85395 623-932-3015