February 2024
Monthly Financial Report

PREPARED BY
Financial Accounting & Reporting Division

February 29, 2024
To the Mayor and City Council:
This is the City's Financial Report for February, the eighth month of fiscal year 2023-24.
This financial report summarizes revenues and expenditures by major categories.
The report consists of three sections:
Expenditures by Program
General Fund

Presents a five-year history, including current year
budget and actual, and variance and trend analysis for
general fund expenditures.

Citywide

Presents a five-year history, including current year
budget and actual, and variance and trend analysis for
citywide expenditures.

Revenues by Source
Presents a current year budget-to-actual analysis as well as a three-year
variance and trend analysis for various revenue sources.
Financial Schedules
General Fund
Summary

Presents comparisons of year-to-date balances to
the fiscal year budget and to the actual results for the
prior year for the general fund.

Citywide Summary

Presents the City's summarized comparisons of the
year-to-date balances to the fiscal year budget and to
the actual results for the prior year.

Citywide Detail

Presents, in detail, the results of the City's operations
for the current month and for the fiscal year-to-date.
Included are breakdowns of the City's revenues,
operating budget expenditures, capital budget
expenditures and bonds authorized and sold.

Respectfully submitted,

Kathleen Gitkin
Chief Financial Officer

Cynthia Bisdorf
Acting Deputy Finance Director

May 13, 2024

INDEPENDENT AUDITOR REPORT
To the Chief Financial Officer,
We have assessed the Finance Department’s (Finance) February 2024 Monthly Financial Report (MFR)
in accordance with the agreed-upon procedures engagement between Finance and the City Auditor
Department (Audit). Finance prepares a monthly, written report to the City Council detailing expenditures,
revenues, and the City’s financial condition. Finance is responsible for compiling an accurate and
complete MFR. Finance and Audit entered into an agreed-upon procedures engagement for the
assessment of the MFR on September 7, 2023.
The agreed-upon procedures include the following:
•

Mathematically check calculations presented within the MFR.

•

Confirm stated financial data presented within the MFR to historical data supplied by Finance.

This agreed-upon procedures engagement was conducted in accordance with the attestation standards
established by the American Institute of Certified Public Accountants (AICPA). Because the agreed-upon
procedures listed above do not constitute an examination or a review, we will not express an opinion on
the MFR as a whole. Had we performed additional procedures; other matters may have come to our
attention which would have been reported. The sufficiency of the procedures is solely the responsibility of
parties specified in the agreed-upon procedures engagement agreement.
Based on the agreed-upon procedures, we verified that the presented financial data was mathematically
accurate and tied to historical data presented in the MFR.
Sincerely,

Aaron Cook
City Auditor

City of Phoenix
Monthly Financial Report
February 2024
Table of Contents
Expenditures by Programs

Page

Performance Status

General Fund Expenditures
General Fund Total Expenditures

1

Better than Expected

General Government

1

Better than Expected
Monitor and Consider Taking Action

Criminal Justice

1

Public Safety

2

Expected

Transportation

2

Better than Expected

Community Development

2

Monitor and Consider Taking Action

Community Enrichment

3

Expected

Environmental Services

3

Monitor and Consider Taking Action

Citywide Expenditures
Citywide Total Operating Expenditures

4

Better than Expected

General Government

4

Better than Expected

Criminal Justice

4

Expected

Public Safety

5

Better than Expected

Transportation

5

Better than Expected

Community Development

5

Better than Expected
Better than Expected

Community Enrichment

6

Environmental Services

6

Expected

General Obligation Debt Service

6

Better than Expected

Capital Expenditures
CIP-General Government

7

CIP-Aviation

7

CIP-Phoenix Convention Center

8

CIP-Solid Waste Disposal

8

CIP-Wastewater

9

CIP-Water System

9

Page

Performance Status

General Fund Total Operating Revenue

10

Better than Expected

Property Tax

11

Expected

Local Sales Tax

12

Better than Expected

Revenues by Source

State Sales Tax

13

Better than Expected

Vehicle License Tax

14

Monitor and Consider Taking Action

Governmental Funds

15

Monitor and Consider Taking Action

Aviation

16

Better than Expected

Water System

17

Expected

Wastewater

18

Expected

Financial Schedules

Page

General Fund Revenue

19

General Fund Expenditures

20

Citywide Operating Revenue

21

Citywide Operating Expenditures

22

Citywide Operating Revenue by Source

23

Citywide Operating Expenditures by Program

26

Capital Expenditures and Encumbrances

28

Bonds Authorized and Sold

29

Notes:
Performance Status

Better than Expected - Positive variance of greater than 1% actual vs budget.
Expected - Actual vs budget variance within 1% positive or negative.
Monitor and Consider Taking Action - Negative variance greater than 1% actual vs budget.
Corrective Action Taken - Negative variance greater than 1% actual vs budget, however the City has taken action to address the negative variance.

General Fund
Expenditures
Expenditures from the City's General Fund for core
functions such as Police, Fire, Parks, Streets and
Social Services as well as administrative functions
such as Mayor and Council, City Manager, Finance,
and Human Resources. This does not include any
expenditures from dedicated revenue streams such
as grants, bonds, specifically dedicated taxes, and
enterprise revenues.

General Fund Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Total General Fund Expenditures

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Expenditures
880,045
903,632
955,639
1,062,562
1,218,209

Total General Fund

Annual
Expenditures *
1,282,831
1,371,152
1,470,251
1,623,808
1,955,421

% of Annual
Expenditures
68.6%
65.9%
65.0%
65.4%
62.3%

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$2,500,000
February YTD
Expenditures

$2,000,000
$1,500,000
$1,000,000

Annual
Expenditures *

$500,000
$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

In order to have a better comparison to prior year actuals, contingencies and vacancy savings will only be included in the annual budget to the extent that they have been spent. The
general fund provides for core City functions that are not provided by dedicated revenue streams. It does not include services provided by dedicated taxes, grants, bond proceeds or
enterprise fund revenues. Fiscal year 2023-24 budgeted general fund expenditures are 20.4% higher than the fiscal year 2022-23 actuals. Fiscal year 2023-24 actual general fund
expenditures through February are 14.6% higher than the same period in fiscal year 2022-23. The increase is due to higher personal services (i.e., salaries, benefits, etc.), vehicle
purchases, and insurance premiums in fiscal year 2023-24.
General fund expenditures increased 10.4% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 7.2% from 2021-22 over 2020-21 and an increase of 6.9%
from 2020-21 over 2019-20 fiscal results.

General Government
Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Expenditures
88,049
98,480
106,133
125,264
150,860

General Government
Annual
% of Annual
Expenditures * Expenditures
71.5%
123,100
63.9%
154,211
65.6%
161,907
65.6%
190,945
64.3%
234,477

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$250,000
February YTD
Expenditures

$200,000
$150,000
$100,000

Annual
Expenditures *

$50,000
$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

General government expenditures include costs for administrative and internal service functions such as the Mayor and City Council, City Manager’s Office, City Auditor, Finance,
Budget and Research, and Human Resources. Fiscal year 2023-24 budgeted general fund expenditures are 22.8% higher than the fiscal year 2022-23 actuals. Fiscal year 2023-24
actual general fund expenditures through February are 20.4% higher than the same period in fiscal year 2022-23. The largest driver accounting for increase year-over-year is Human
Resource's $4.2 million charge for the Firefighters Cancer Reimbursement Fund Assessment. The largest driver accounting for the year-over-year increase in budget is $10 million in
Information Technology.
General fund expenditures increased 17.9% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 5.0% from 2021-22 over 2020-21 and an increase of 25.3%
from 2020-21 over 2019-20 fiscal results.

Criminal Justice
Fiscal Year
19-20
20-21
21-22
22-23
23-24

Criminal Justice

February YTD
Expenditures

Annual
Expenditures *

23,352
23,378
27,299
26,703
28,955

35,033
36,162
40,008
42,361
45,265

% of Annual
Expenditures
66.7%
64.6%
68.2%
63.0%
64.0%

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$50,000
February YTD
Expenditures

$40,000
$30,000

Annual
Expenditures *

$20,000
$10,000
$0
19-20

Monitor and Consider Taking Action

20-21

21-22

22-23

23-24

Criminal Justice expenditures include costs for Municipal Courts and Public Defenders. Fiscal year 2023-24 budgeted general fund expenditures are 6.9% higher than the fiscal year
2022-23 actuals. Fiscal year 2023-24 actual general fund expenditures through February are 8.4% higher than the same period in fiscal year 2022-23.
General fund criminal justice expenditures increased 5.9% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 10.6% from 2021-22 over 2020-21 and an
increase of 3.2% from 2020-21 over 2019-20 fiscal results.

1

General Fund Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Public Safety
Fiscal Year
19-20
20-21
21-22
22-23
23-24

Public Safety

February YTD
Expenditures

Annual
Expenditures *

603,669
610,262
645,874
720,543
815,213

893,403
925,920
992,648
1,082,562
1,222,556

% of Annual
Expenditures
67.6%
65.9%
65.1%
66.6%
66.7%

$1,500,000
February YTD
Expenditures

$1,200,000
$900,000
$600,000

Annual
Expenditures *

$300,000

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$0
19-20

Expected

20-21

21-22

22-23

23-24

Public Safety expenditures include costs for police and fire services. The anticipated increases are due to vehicle purchases and higher personal service expenditures for public safety
employees in both the Police and Fire Departments, which includes City pension contributions. Fiscal year 2023-24 budgeted general fund public safety expenditures are 12.9% higher
than the fiscal year 2022-23 actuals. Fiscal year 2023-24 actual general fund public safety expenditures through February are 13.1% higher than the same period in fiscal year 202223.
General fund public safety expenditures increased 9.1% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 7.2% from 2021-22 over 2020-21 and an increase
of 3.6% from 2020-21 over 2019-20 fiscal results.

Transportation
Fiscal Year
19-20
20-21
21-22
22-23
23-24

Transportation

February YTD
Expenditures

Annual
Expenditures *

14,596
16,499
15,305
17,806
16,636

19,748
22,144
23,166
24,827
25,473

% of Annual
Expenditures
73.9%
74.5%
66.1%
71.7%
65.3%

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$30,000
$25,000
February YTD
Expenditures

$20,000
$15,000
$10,000

Annual
Expenditures *

$5,000
$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

Transportation expenditures include costs for public transit and street maintenance and repair. Prior to fiscal year 2018-19 Street Transportation Department charged expenses to the
general fund and subsequently transferred some of those expenses to the Arizona Highway User Revenue fund (AHUR). Beginning in fiscal year 2018-19 Street Transportation is
charging most expenses to AHUR while transferring a portion of those to the general fund. Fiscal year 2023-24 budgeted general fund transportation expenditures are 2.6% higher
than the fiscal year 2022-23 actuals. Fiscal year 2023-24 actual general fund transportation expenditures through February are 6.6% lower than the same period in fiscal year 2022-23
due to the senior services shuttle program being discontinued.
General fund transportation expenditures increased 7.2% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 4.6% from 2021-22 over 2020-21 and an
increase of 12.1% from 2020-21 over 2019-20 fiscal results.

Community Development

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Expenditures
15,543
26,371
17,335
19,632
24,649

Community Development
Annual
Expenditures *
22,542
24,114
28,225
32,420
39,424

% of Annual
Expenditures
69.0%
109.4%
61.4%
60.6%
62.5%

$50,000
February YTD
Expenditures

$40,000
$30,000
$20,000

Annual
Expenditures *

$10,000

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$0
19-20

Monitor and Consider Taking Action

20-21

21-22

22-23

23-24

Community Development expenditures include costs for economic development and neighborhood services. The fiscal year 2023-24 budgeted general fund community development
expenditures are 21.6% higher than the fiscal year 2022-23 actuals. Fiscal year 2023-24 actual general fund community development expenditures through February are 25.6% higher
than the same period in fiscal year 2022-23.
General fund community development expenditures increased 14.9% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 17.0% from 2021-22 over 2020-21
and an increase of 7.0% from 2020-21 over 2019-20 fiscal results.

2

General Fund Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Community Enrichment

Community Enrichment
% of Annual
Expenditures
70.8%
63.7%
67.4%
65.3%
64.9%

$250,000

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$0

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Expenditures
109,973
101,048
117,080
124,611
148,132

Annual
Expenditures *
155,417
158,589
173,631
190,780
228,167

February YTD
Expenditures

$200,000
$150,000
$100,000

Annual
Expenditures *

$50,000
19-20

20-21

21-22

22-23

23-24

Expected
Community enrichment expenditures include costs for parks, recreational activities, senior centers and community centers. Fiscal year 2023-24 budgeted general fund community
enrichment expenditures are 19.6% higher than the fiscal year 2022-23 actuals. Fiscal year 2023-24 actual general fund community enrichment expenditures through February are
18.9% higher than the same period in fiscal year 2022-23. The anticipated increase is due to higher contractual services related to parking management services and staffing fiscal
year 2023-24.
General fund community enrichment expenditures increased 9.9% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 9.5% from 2021-22 over 2020-21 and
an increase of 2.0% from 2020-21 over 2019-20 fiscal results.

Environmental Services

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Expenditures
16,282
21,041
20,266
16,337
23,169

Environmental Services
Annual
Expenditures *
19,180
20,905
26,508
28,329
38,527

% of Annual
Expenditures
84.9%
100.7%
76.5%
57.7%
60.1%

$40,000
February YTD
Expenditures

$30,000
$20,000

Annual
Expenditures *

$10,000

* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$0
19-20

Monitor and Consider Taking Action

20-21

21-22

22-23

23-24

Environmental service expenditures include costs for maintaining and operating City facilities. Because environmental service expenditures are highly dependent on interdepartmental
charges, they tend to be very volatile. Fiscal year 2023-24 budgeted general fund environmental services expenditures are 36.0% higher than the fiscal year 2022-23 actuals. Fiscal
year 2023-24 actual general fund environmental service expenditures through February are 41.8% higher than the same period in fiscal year 2022-23. The largest factors increasing
annual budget is additional personal services and commodities.
General fund environmental expenditures increased 6.9% in fiscal year 2022-23 over fiscal year 2021-22. This followed an increase of 26.8% from 2021-22 over 2020-21 and an
increase of 9.0% from 2020-21 over 2019-20 fiscal results.

3

Citywide
Expenditures
All expenditures of the City including those for
enterprise functions and those related to dedicated
revenue streams. Expenditures are reported in
total and by program.

Citywide Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Total Citywide Operating

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
2,788,997
3,814,963
2,649,539
4,163,122
3,003,326
4,488,949
3,179,336
4,737,610
3,491,297
6,601,290

Total Citywide
% of Annual
Expenditures
73.1%
63.6%
66.9%
67.1%
52.9%

* For prior years -- total actual expenditures; for current year -- total approved
budget net of adjustments for contingencies and use of the early redemption
fund.

$8,000,000
February YTD
Expenditures

$6,000,000
$4,000,000

Annual
Expenditures *

$2,000,000
$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

In order to have a better comparison to prior year actuals, contingencies and vacancy savings will only be included in the annual budget to the extent that they have been
spent. Fiscal year 2023-24 budget includes program budgeted ARPA amounts. Without contingencies and vacancy savings, and including programs budgeted for ARPA the
budget for fiscal year 2023-24 anticipates an increase of 39.3% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are
9.8% higher than the same period in the prior fiscal year.

General Government
Fiscal Year
19-20
20-21
21-22
22-23
23-24

General Government

February YTD
Annual
Expenditures Expenditures *
102,365
157,200
141,917
207,451
116,108
238,925
166,636
246,244
175,878
287,719

% of Annual
Expenditures
65.1%
68.4%
48.6%
67.7%
61.1%

$400,000
February YTD
Expenditures

$300,000
$200,000

Annual
Expenditures *

$100,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

General government expenditures include costs for administrative and internal service functions such as the Mayor and City Council, City Manager's Office, City Auditor,
Finance, Budget and Research, and Human Resources. Budget for fiscal year 2023-24 anticipates an increase of 16.8% over fiscal year 2022-23 actuals in total operating
expenditures. Actual expenditures through February are 5.5% higher than the same period in the prior fiscal year.

Criminal Justice
Fiscal Year
19-20
20-21
21-22
22-23
23-24

Criminal Justice

February YTD
Annual
Expenditures Expenditures *
29,641
44,425
28,792
44,147
31,956
47,054
31,289
49,422
34,422
54,280

% of Annual
Expenditures
66.7%
65.2%
67.9%
63.3%
63.4%

$80,000
February YTD
Expenditures

$60,000
$40,000

Annual
Expenditures *

$20,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0
19-20

Expected

20-21

21-22

22-23

23-24

Criminal Justice expenditures include costs of the Municipal Court and the Public Defender’s Office. Citywide criminal justice budget for fiscal year 2023-24 anticipates an
increase of 9.8% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are 10.0% higher than the same period in the prior
fiscal year.

4

Citywide Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Public Safety

Public Safety
% of Annual
Expenditures
67.2%
66.3%
65.9%
66.9%
65.3%

$2,000,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
746,664
1,110,457
744,537
1,122,901
810,144
1,228,901
906,738
1,354,421
1,011,256
1,547,732

February YTD
Expenditures

$1,600,000
$1,200,000
$800,000

Annual
Expenditures *

$400,000
19-20

20-21

21-22

22-23

23-24

Better than Expected
Public Safety expenditures include costs of Police, Fire and Emergency Management. Citywide public safety budget for fiscal year 2023-24 anticipates an increase of 14.3%
over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are 11.5% higher than the same period in the prior fiscal year.

Transportation
Fiscal Year
19-20
20-21
21-22
22-23
23-24

Transportation

February YTD
Annual
Expenditures Expenditures *
609,645
774,492
532,257
786,597
637,989
797,084
610,496
792,941
662,201
914,442

% of Annual
Expenditures
78.7%
67.7%
80.0%
77.0%
72.4%

$1,000,000
$800,000

February YTD
Expenditures

$600,000
$400,000

Annual
Expenditures *

$200,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

Transportation expenditures include costs for street lighting, maintenance and repair, Aviation and Public Transit. Citywide transportation budget for fiscal year 2023-24
anticipates an increase of 15.3% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are 8.5% higher than the same
period in the prior fiscal year. Fiscal year 2021-22 financial results included a $70 million pension paydown.

Community Development

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
139,944
229,793
177,266
245,310
145,390
227,960
171,500
270,479
212,837
414,226

Community Development
% of Annual
Expenditures
60.9%
72.3%
63.8%
63.4%
51.4%

$500,000
February YTD
Expenditures

$400,000
$300,000
$200,000

Annual
Expenditures *

$100,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0
19-20

Better than Expected

20-21

21-22

22-23

23-24

Community Development expenditures include costs for Neighborhood Services, Housing, Planning and Economic Development. Citywide community development budget
for fiscal year 2023-24 anticipates an increase of 53.1% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are 24.1%
higher than the same period in the prior fiscal year.

5

Citywide Year-To-Date Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29
Community Enrichment
% of Annual
Expenditures
70.8%
62.1%
70.0%
72.2%
68.5%

$600,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
224,243
316,680
242,813
390,805
294,528
420,501
325,193
450,218
328,088
478,854

Community Enrichment
February YTD
Expenditures

$450,000
$300,000

Annual
Expenditures *

$150,000

19-20

20-21

21-22

22-23

23-24

Better than Expected
Community Enrichment expenditures include costs for Parks, Libraries, the Convention Center, Senior Centers and Community Centers. Citywide community enrichment
budget for fiscal year 2023-24 anticipates an increase of 6.4% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures through February are
0.9% higher than the same period in the prior fiscal year.

Environmental Services

Environmental Services
% of Annual
Expenditures
68.0%
66.5%
69.4%
65.5%
65.8%

$1,000,000

* For prior years -- total actual expenditures; for current year -- total approved
budget.

$0

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
470,854
692,524
488,846
734,733
522,522
752,386
544,105
830,101
604,413
918,863

February YTD
Expenditures

$750,000
$500,000

Annual
Expenditures *

$250,000

19-20

20-21

21-22

22-23

23-24

Expected
Environmental Services expenditures include costs for Water, Wastewater and Solid Waste services as well as the care and maintenance of City facilities. Citywide
environmental services budget for fiscal year 2023-24 anticipates an increase of 10.7% over fiscal year 2022-23 actuals in total operating expenditures. Actual expenditures
through February are 11.1% higher than the same period in the prior fiscal year.

Citywide Debt Service Expenditures
Fiscal Year
19-20
20-21
21-22
22-23
23-24

February YTD
Annual
Expenditures Expenditures *
87,176
130,839
88,075
131,938
87,613
131,081
164,239
207,854
90,667
136,900

General Obligation Debt Service
% of Annual
Expenditures
66.6%
66.8%
66.8%
79.0%
66.2%

$240,000
February YTD
Expenditures

$180,000
$120,000

Annual
Expenditures *

$60,000

* For prior years -- total actual expenditures; for current year -- total approved
budget net of credit for early redemption fund resources

$0
19-20

20-21

21-22

22-23

23-24

Better than Expected
General obligation debt service expenditures budget for fiscal year 2023-24 has a decrease of 34.1% over fiscal year 2022-23 actuals in total operating expenditures. Actual
debt service expenditures through February 2024 are 44.8% lower than the same period in the prior fiscal year. Increases in fiscal year 2022-23 include a $75 million partial
defeasance of General Obligation Refunding Bonds, Series 2014, and a $60 million pay-off of the Excise Tax Revenue Obligations Loan that was used to purchase the 100
W. Washington Street Building.

6

Capital
Expenditures
Expenditures for capital projects. These expenditures
may come from designated capital funds such as
bond proceeds or grants, or they may come from
operating funds and be reported in both the
operating and capital sections.
Because of the long-term view used in capital
budgeting and the volatility of capital spending, no
performance status is provided unless capital
spending exceeds the capital budget.

Capital Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29

20-21

21-22

22-23

23-24 (Budget)

23-24 (YTD)

$ 684,798

$ 525,852

$ 494,744

$ 2,122,729

$

19-20

General Government $ 500,745

Discussion:

322,867

General Government

Major projects budgeted for in fiscal year 2019-20 included $131 million for
pavement maintenance, $100 million on Light Rail, $57 million for Talking Stick
Arena Renovations, $47 million on parks preserve development, community
centers, and development, $45 million bus and vehicle purchases, and $18
million for major streets.

23-24 (YTD)
23-24 (Budget)
22-23

Major projects budgeted for in fiscal year 2020-21 included $115 million on the
South Central Light Rail, $96 million for Talking Stick Arena renovations, $69
million on Northwest Light Rail extension, and $32 million to replace fare
collection system.

21-22
20-21

Major projects budgeted for in fiscal year 2021-22 included $117 million on South
Central Light Rail extension, $70 million on Northwest Light Rail extension, $29
million to design and constructing roadway and drainage near the 303 and
Carefree Highway, $11 million replacement of Police Air Fleet, and $10 million
street improvement near Pinnacle Peak and 35th to 45th Ave.

19-20
$0

$500

$1,000

$1,500

$2,000

$2,500

Major projects budgeted for in fiscal year 2022-23 included $248 million for Light Rail extension, construction, right-of-way and acquisition of property, $63 million for debt
service/principal and interest for Aviation and Convention Center, $60 million to construct and complete major street projects, $53 million to purchase standard buses,
design first corridor Bus Rapid Transit, and add an operational garage, $22 million on funds for construction cost of affordable housing, $21 million to improve three
Pedestrian Hybrid Beacons, $18 million to procure and implement a Time and Labor System, and $2 million to acquire parcels along the Capitol and I-10 corridor.
Additionally, there is $100 million in contingency budget for undetermined capital expenditures.

Major projects budgeted for in fiscal year 2023-24 include $264 million for Light Rail extension, construction, right-of-way and acquisition of property, $116 million to
purchase standard buses, design first and second corridors Bus Rapid Transit, $75 million to acquire parcels along the Capitol and I-10 corridor, $65 million for new
parks construction, $101 million for major streets and bridges projects, $41 million on funds for construction cost of affordable housing, and $20 million to procure and
implement a Time and Labor System. Additionally, there is $100 million in contingency budget for undetermined capital expenditures.

20-21

21-22

22-23

23-24 (Budget)

23-24 (YTD)

$ 172,418

$ 115,395

$ 134,479

$ 1,194,245

$

19-20

Aviation $ 254,523

89,280

Discussion:

Aviation

Major projects budgeted for in fiscal year 2019-20 included $90 million for PHX
Terminal 4 South concourse and gates, $47 million for Runway, Apron and Taxiway
Improvements, and $10 million for PHX Sky Train.

23-24 (YTD)
23-24 (Budget)
22-23

Major projects budgeted for in fiscal year 2020-21 included $51 million on Terminal 4
concourse, $24 million Terminal 4 Apron Concrete construction, $19 million garage
demolition, and $13 million on the 24th St parking lot.

21-22
20-21
19-20
$0

$500

$1,000

$1,500

Major events budgeted for in fiscal year 2021-22 included $58 million in Aviation
Bonds, $13 million in New Crossfield Taxiway, $6 million on Terminal 4 South 1
Concourse, and $5 million on Phoenix Sky Train.

Major projects budgeted for in fiscal year 2022-23 included $11 million for a New Crossfield Taxiway, $34 million to modernize vertical and horizontal transportation
equipment at Sky Harbor, $24 million to reconstruct the West Air Cargo Apron, $21 million to replace and relocate the police hangar at Phoenix Deer Valley Airport, $13
million to relocate Taxiway at Phoenix Deer Valley Airports, $12 million to replace Terminal 4 fire alarm/voice evacuation system, and $11 million to facilitate the
acquisition of land on the North side of Phoenix Sky Harbor Airport. Additionally, the City budgets $176 million in contingencies for the Airport Development Plan.
Major projects budgeted for in fiscal year 2023-24 include $315 million for Concourse Construction at Phoenix Sky Harbor Airport, $185 million for the new Crossfield
Taxiway, $43 million to relocate the American Airlines baggage sorting facility, $41 million to modify West Air Cargo Building in support of new Crossfield Taxiway, and
$23 million to reconstruct the West Air Cargo Apron. Additionally, the City budgets $377 million in contingencies for the Airport Development Plan.

7

Capital Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29

20-21

21-22

22-23

$ 31,640

$ 84,751

$ 112,717

19-20

Phoenix Convention Center $ 52,148

23-24 (Budget)

23-24 (YTD)

$

$

Discussion:

45,705

12,255

Phoenix Convention Center

Beginning in fiscal year 2012-13, Phoenix Convention Center began making debt
service payments on the State funded portion of the 2005 Convention Center
bonds. The payments from the State are accumulated in a capital fund and the
subsequent debt service payments are then made from the capital fund within the
capital budget. The debt service payments totaled $24 million for fiscal year 202021. Major projects budgeted for in fiscal year 2021-22 included $47 million for the
purchase of 100 West Washington Street.

23-24 (YTD)
23-24 (Budget)
22-23
21-22

Major projects budgeted for in fiscal year 2022-23 included $150 million to design
and construct the second phase of building and garage renovations at 100 West
Washington Street.

20-21
19-20

Major projects budgeted for in fiscal year 2023-24 include $34 million to design
and construct the second phase of building and garage renovations at 100 West
Washington Street.

19-20

Solid Waste $

20-21

5,490

$

8,796

$0

21-22

22-23

$ 28,986

$ 22,723

$50

23-24 (Budget)

23-24 (YTD)

$

$

38,014

$100

$150

12,625

Discussion:

Solid Waste

Major projects budgeted for in fiscal year 2019-20 Solid Waste included $3
million for transfer stations, $1 million at State Route 85, and $1 million for
Skunk Creek as monitoring and maintenance.

23-24 (YTD)
23-24 (Budget)

Major projects budgeted for in fiscal year 2020-21 Solid Waste included $4.5
million on Excavate and line Cell 2 at the State Route 85 Landfill, $1.2 million
Dixileta payment replacement at self-haul area, and $1.1 million at the 27th
Ave trommel machine.

22-23
21-22

Major projects budgeted for in fiscal year 2021-22 Solid Waste included $24
million on replacing and upgrading aging equipment at 27th Ave and North
Gateway Transfer Stations Material Recovery Facilities.

20-21
19-20
$0

$15

$30

Major projects budgeted for in fiscal year 2022-23 included $10 million at
transfer stations, $8.5 million at State Route 85 for excavating and lining along
with methane gas extraction systems, and $3 million to purchase replacement
vehicles. Additionally, the City budgeted $2.5 million in contingency funding for
unexpected expenditures.

$45

Major projects budgeted for in fiscal year 2023-24 include $9 million to excavate and line Cell 2 at the State Route 85 Landfill, $7 million to replace or upgrade
aging equipment at the 27th Ave Material Recovery Facilities, and $3 million to purchase and install upgraded recycling equipment at the North Gateway Material
Recovery Facility. Additionally, the City budgets $10 million for unexpected expenditures.

8

Capital Expenditures (In Thousands of Dollars)
Refer to detailed financial schedules pages 19 thru 29

19-20

Wastewater $123,141

20-21

21-22

22-23

$ 77,339

$ 182,710

$147,620

23-24 (Budget)

23-24 (YTD)

$

$

381,017

Discussion:

95,216

Wastewater

Major projects budgeted for in fiscal year 2019-20 included $42.0 million on
sewer replacement and construction, $27.7 million on 91st Ave Waste Water
Treatment Plant, $14.4 million at 23rd Ave, $13.1 million at Cave Creek, and
$13.1 million on lift stations.

23-24 (YTD)
23-24 (Budget)

Major projects budgeted for in fiscal year 2020-21 included $12.4 million on 91st
Ave plant equipment, $10.1 million for 23rd Ave Grit Basin Replacement, $6.9
million Citywide to rehabilitate small diameter sewers, and $4.7 million for 23rd
Ave equipment replacement.

22-23
21-22

Major projects budgeted for in fiscal year 2021-22 included $49.8 million on Lift
Stations, $33.2 million on Dixileta Dobbins North Gravity Sewer, $22.7 million
primarily rehabbing at 91st Ave, $16.3 million at 23rd Ave including designing
and constructing a new grit basin, $6.6 million rehabbing small diameter sewers
Citywide, $5.9 million rehabbing Cave Creek Reclamation Plant, $3 million 32nd
Street sanity sewer between Cortez Street and Cactus Road, and $3.0 million for
Sewer Relocation due to Light Rail.

20-21
19-20
$0

$100

$200

$300

$400
$500
Thousands

Major projects budgeted for in fiscal year 2022-23 included $20 million on growth-related wastewater infrastructure in Desert View area, $17 million to replace and
rehabilitate equipment used in solids thickening, $17 million to rehabilitate Plant 2 equipment at 91st Ave, $12 million to rehabilitate or replace large diameter sewers,
$11 million 23rd Ave Grit Basin Replacement, $9 million to rehabilitate small sewers citywide, $5 million for rehabilitate or replacing PVC-lined concrete sanitary
interceptors, and $4 million for Dixileta Dobbins North Gravity Sewer. In addition, the City has budgeted $165 million for contingencies.
Major projects budgeted for in fiscal year 2023-24 include $50 million to rehabilitate equipment at Cave Creek, $29 million to replace and rehabilitate Plant 2
equipment at 91st Ave, $23 million to rehabilitate or replace PVC-lined concrete sanitary interceptors, $19 million to replace and rehabilitate equipment used in solids
thickening, $16 million to rehabilitate small diameter sewers Citywide, $15 million to construct a new force main, $12 million for large growth-related infrastructure in
the Desert View Impact fee area, and $11 million for the Northwest Wastewater Gravity Sewer. Additionally, the City has budgeted $66 million for contingencies.

19-20

Water System $ 252,146

20-21

21-22

22-23

$ 434,000

$ 205,485

$152,431

23-24 (Budget)

23-24 (YTD)

$

$

631,102

124,607

Discussion:

Water System

Major projects budgeted for in fiscal year 2019-20 included $84.3 million on water
main replacement and construction, $55.9 million on Water Treatment Plants, and
$38.9 million on wells.

23-24 (YTD)
23-24 (Budget)

Major projects budgeted for in fiscal year 2020-21 included $153 million on water
main from 24th Street treatment plant to 32nd St and Bell Road, $110 million on
water boosters, and $20 million on transmission main rehabilitation.

22-23
21-22
20-21
19-20
$0

$200

$400

$600

$800

Major projects budgeted for in fiscal year 2021-22 included $47 million on Dixileta
Dobbins to install water infrastructure, $21 million on relocating waterlines along the
Light Rail, $15 million to provide power redundancy at 24th Street Water Treatment
Plant, $12 million to repair and replace leaking water services from main to meter,
and $9 million in underground aquifer water storage.

Major projects budgeted for in fiscal year 2022-23 included $104 million for water engineering and construction labor, $51 million for the Southern/Northern Water
Growth Projects for growth-related water infrastructure, $22 million at DVWTP to relocate existing chemical storage and related chemical feed pumping systems to
upgrade and replace aging facilities, $17 million on underground Aquifer Water Storage, $12 million on Booster Pump Stations, $12 million Remote Facilities Rehab
and Replacement, $11 million for 24th Street WTP rehabilitation, and $9 million to Acquire Additional Water Resources. Additionally, the City budgeted $105 million for
Water contingencies.
Major projects budgeted for in fiscal year 2023-24 include $85 million on booster pump stations, $25 million to install and upgrade water mains, $42 million for Deer
Valley plant rehabilitation, $32 million for 24th Street treatment plant rehabilitation, $30 million for infrastructure construction in the Southern development impact fee
area, $17 million for groundwater wells construction, $17 million on plant power redundancy at 24 th Street, $15 million for concrete reservoir rehabilitation, $15 million
for construction improvements, and $12 million for aquifer storage recovery wells. Additionally, the City budgets $105 million for Water contingencies.

9

Revenues
Sources of funds for the operations of the City
including local taxes, state shared taxes, user fees
and charges, and grants.

General Fund Total Operating Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

General Fund Revenues
$2,000,000
$1,600,000

February YTD Revenues

$1,200,000
$800,000
Annual Revenues*

$400,000
$0
19-20

Fiscal Year
19-20
20-21
21-22
22-23
23-24

February
YTD
Revenues
832,171
950,641
978,312
1,108,970
1,217,638

20-21

21-22

22-23

23-24

Annual
% of Annual
Revenues* Revenues
1,307,357
63.7%
1,491,537
63.7%
1,508,526
64.9%
1,695,886
65.4%
1,833,837
66.4%

* For prior years - total actual revenues, for current year - total approved budget

Year to Date Performance Status
Better than Expected
Fiscal year 2023-24 general fund operating revenues are budgeted to increase 8.1% over prior year actuals. Actual revenues
through February are 9.8% higher than the same period in the prior fiscal year. Specific revenue sources are discussed on the
following pages.

10

Property Tax Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Property Taxes Primary & Secondary
360,000
320,000
280,000

131,092

126,148

240,000

119,973

115,069
107,555

Secondary

200,000

Primary

77,532

160,000
120,000
80,000

206,935

201,050

192,215

182,043

170,209

122,531
40,000
19-20

Fiscal Year
19-20
20-21
21-22
22-23
23-24 YTD
23-24 Budget

Total
277,764
297,112
312,188
327,198
200,063
338,027

July
(1,141)
(1,619)
(1,490)
(1,541)
(1,819)
(1,678)

20-21

Aug
1,081
1,541
1,141
1,275
1,291
1,428

Sept
647
1,288
1,040
1,357
1,182
1,330

21-22

Oct
11,579
21,550
24,048
29,752
28,607
27,197

Nov
106,458
89,520
101,285
98,119
115,096
104,287

22-23

Dec
23,612
38,512
33,534
39,943
30,724
40,422

Jan
14,875
15,608
18,086
16,279
16,818
18,038

23-24 YTD

Feb
7,447
6,612
6,889
7,687
8,164
7,648

Mar
8,185
9,456
8,972
10,370
10,395

Apr
12,116
15,171
15,063
15,618
16,550

23-24 Budget

May
66,043
76,862
71,096
77,294
81,304

June
26,862
22,611
32,524
31,045
31,106

Primary Secondary
170,209
107,555
182,043
115,069
192,215
119,973
201,050
126,148
122,531
77,532
206,935
131,092

Note: Monthly budget amount for 23-24 is the average % of last 3 fiscal years of the total actual amount.

Year to Date Performance Status
Expected
Because property taxes are primarily collected in November, December, May and June, a monthly breakdown of the revenues is not particularly useful, therefore the chart for property tax revenues
is presented with an annual perspective.
Total property tax revenues are budgeted to increase 3.3% in fiscal year 2023-24 over fiscal year 2022-23 actuals.

11

Local Sales Tax Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Local Sales Tax
Budget vs Actual
90,000
80,000
70,000
60,000

19-20 Actuals
20-21 Actuals

50,000

21-22 Actuals

40,000

22-23 Actuals
23-24 Actuals

30,000

23-24 Budget
20,000
10,000
July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

July
33,070
41,583
44,048
43,479
65,562
46,969

Sept

Aug
36,653
59,937
61,805
67,368
40,693
65,383

Oct

Sept
56,465
33,935
41,516
46,739
61,764
51,740

Nov

Oct
31,089
45,467
50,734
81,273
77,291
60,402

Dec

Jan

Feb

Nov
40,325
52,188
60,971
35,837
51,239
54,829

Dec
51,643
39,837
53,633
59,276
62,777
59,193

Jan
39,512
42,051
70,197
70,667
62,496
64,417

Mar

Apr

YTD thru
Feb
February
33,570 322,327
32,672 347,670
42,535 425,439
54,420 459,059
52,116 473,938
47,264 450,197

May

June

Mar
61,093
63,749
44,740
52,376
64,281

Apr
29,662
40,758
54,758
43,371
48,814

May
35,239
40,197
72,938
85,884
67,844

June
50,222
67,088
61,286
56,272
68,020

Year to Date Performance Status
Better than Expected
Local Sales Tax for fiscal year 2023-24 are budgeted to increase 0.3% over fiscal year 2022-23 actual results. Year-to-date Local Sales Tax through February are 5.3% higher than
budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an allocation of the annual budget. Monthly
budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 Local Sales Tax revenues increased 3.2% compared to the same period in prior year. For the fiscal year 2022-23 Local Sales Tax for the full year
increased 5.7% over fiscal year 2021-22. Fiscal year 2021-22 increased 17.8% over 2020-21 full year results.

12

State Sales Tax Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

State Sales Tax
Budget vs Actual
35,000
30,000
25,000

19-20 Actuals
20-21 Actuals

20,000

21-22 Actuals
22-23 Actuals

15,000

23-24 Actuals
23-24 Budget

10,000
5,000
July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

July
20,116
22,912
26,539
28,422
31,080
28,837

Sept

Aug
14,944
14,482
18,124
15,064
17,702
18,427

Oct

Sept
11,479
13,123
16,285
22,937
21,440
18,783

Nov

Oct
14,226
18,038
18,259
18,918
17,613
20,436

Dec

Jan

Feb

Nov
16,443
13,095
15,097
17,357
24,288
18,244

Dec
12,120
19,640
23,860
22,501
21,627
22,990

Jan
17,440
19,033
22,364
20,469
20,707
23,339

Mar

Apr

YTD thru
Feb
February
17,707 124,475
10,831 131,154
12,163 152,691
19,205 164,873
21,264 175,721
17,630 168,686

May

June

Mar
12,285
15,878
18,738
22,501
20,424

Apr
18,557
23,414
25,105
23,090
26,535

May
11,288
17,998
15,952
15,244
17,799

June
5,321
12,848
17,415
16,105
15,212

Year to Date Performance Status
Better than Expected
State Sales Tax for fiscal year 2023-24 are budgeted to increase 2.8% over fiscal year 2022-23 actual results. Year-to-date State Sales Tax through February are 4.2% higher than
budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an allocation of the annual budget.
Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 State Sales Tax revenues increased 6.6% compared to the same period in prior year. For the fiscal year 2022-23 State Sales Tax for the full
year increased 5.2% over fiscal year 2021-22. Fiscal year 2021-22 increased 14.2% over 2020-21 full year results.

13

Vehicle License Tax Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Vehicle License Tax
Budget vs Actual
14,000
12,000
19-20 Actuals

10,000

20-21 Actuals
21-22 Actuals

8,000

22-23 Actuals
6,000

23-24 Actuals
23-24 Budget

4,000
2,000
July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

July
10,791
10,098
10,453
10,826
10,796
11,665

Sept

Aug
5,619
7,692
5,328
5,739
5,974
6,744

Oct

Nov

Dec

Jan

Feb

Sept
5,207
6,207
6,363
6,274
6,936
6,653

Oct
6,146
7,328
6,970
6,676
6,283
7,502

Nov
5,408
4,608
4,862
5,183
6,005
5,549

Dec
5,891
6,529
6,537
6,555
6,781
7,057

Jan
6,514
7,328
7,285
6,684
6,760
7,693

Mar

Apr

YTD thru
Feb
February
6,528 52,104
5,568 55,358
5,828 53,626
6,276 54,213
6,343 55,878
6,694 59,557

May

June

Mar
5,960
6,411
6,418
7,297
7,216

Apr
5,110
7,162
8,075
7,252
7,635

May
4,699
6,472
6,061
7,241
6,770

June
2,611
4,365
4,515
4,590
4,448

Year to Date Performance Status
Monitor and Consider Taking Action
Vehicle License Tax for fiscal year 2023-24 are budgeted to increase 6.2% over fiscal year 2022-23 actual results. Year-to-date Vehicle License Tax through February are 6.2%
lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an allocation of the
annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.

Through February fiscal year 2023-24 Vehicle License Tax revenues increased 3.1% compared to the same period in prior year. For the fiscal year 2022-23 Vehicle License
Tax for the full year increased 2.4% over fiscal year 2021-22. Fiscal year 2021-22 decreased 1.3% over 2020-21 full year results.

14

Governmental Funds Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Governmental Funds Revenues
Budget vs Actual
600,000

500,000

19-20 Actuals
20-21 Actuals
21-22 Actuals

400,000

22-23 Actuals
23-24 Actuals

300,000

23-24 Budget

200,000

100,000

July

Fiscal Year
July
19-20
100,481
20-21
68,761
21-22
123,174
22-23
79,979
23-24
154,502
23-24 Budget 114,645

Aug

Sept

Oct

Nov

Dec

Jan

Aug
187,393
217,048
225,569
274,628
239,106
288,476

Sept
194,506
260,275
185,901
211,185
274,616
272,566

Oct
175,883
215,731
231,638
288,507
297,125
291,960

Nov
269,127
298,362
324,875
300,162
356,376
381,199

Dec
226,582
236,818
253,979
275,549
338,770
318,233

Jan
209,806
216,626
267,406
263,160
304,747
306,678

Feb

Feb
187,061
178,738
199,258
246,172
221,491
260,842

Mar

Apr

May

June

YTD thru
February
1,550,839
1,692,359
1,811,800
1,939,342
2,186,733
2,234,599

Mar
217,521
272,444
230,537
255,008
312,903

Apr
180,484
316,241
255,574
243,521
321,256

May
226,625
277,929
320,064
419,779
399,467

June
378,887
362,173
540,197
497,001
581,656

Year to Date Performance Status
Monitor and Consider Taking Action
Governmental Funds are those funds supported primarily through taxes, bonds and grants and include the general fund as well as funds with dedicated tax revenue streams. They do not
include the enterprise funds. Governmental Funds for fiscal year 2023-24 are budgeted to increase 14.8% over fiscal year 2022-23 actual results. Year-to-date Governmental Funds
revenues through February are 2.1% lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based
on an allocation of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 Governmental Funds revenues increased 12.8% compared to the same period in prior year. For the fiscal year 2022-23 Governmental Funds for the
full year increased 6.2% over fiscal year 2021-22. Fiscal year 2021-22 increased 8.1% over 2020-21 full year results.

15

Aviation Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Aviation Operating Revenues
Budget vs Actual
160,000

120,000
19-20 Actuals
20-21 Actuals
21-22 Actuals

80,000

22-23 Actuals
23-24 Actuals
23-24 Budget

40,000

July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

July
30,489
25,387
36,735
12,023
43,541
29,090

Sept

Aug
32,307
2,666
33,945
37,402
46,444
29,559

Oct

Sept
32,953
27,193
28,302
34,042
42,615
34,054

Nov

Oct
32,056
21,045
31,904
41,419
49,373
35,148

Dec

Jan

Feb

Nov
33,532
23,880
36,031
66,192
49,349
44,381

Dec
36,787
31,636
35,025
25,237
56,177
35,777

Jan
34,297
18,059
57,391
46,228
47,603
43,364

Mar

Apr

YTD thru
Feb
February
34,215 266,636
61,877 211,743
33,583 292,916
57,291 319,834
46,427 381,529
51,980 303,353

May

June

Mar
34,228
25,487
38,417
45,866
40,034

Apr
27,255
31,454
40,080
48,930
41,069

May
23,524
30,668
46,367
46,926
41,004

June
10,702
91,844
155,860
112,245
103,048

Year to Date Performance Status
Better than Expected
Aviation Operating revenue for fiscal year 2023-24 are budgeted to decrease 7.9% over fiscal year 2022-23 actual results. Year-to-date Aviation Operating revenues through February
are 25.8% higher than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an allocation of the
annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 Aviation Operating revenues increased 19.3% compared to the same period in prior year. For the fiscal year 2022-23 Aviation Operating revenues
for the full year increased 0.0% over fiscal year 2021-22. Fiscal year 2021-22 increased 46.6% over 2020-21 full year results.

16

Water System Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Water System Operating Revenues
Budget vs Actual
90,000
80,000
70,000
60,000

19-20 Actuals

50,000

20-21 Actuals
21-22 Actuals

40,000

22-23 Actuals
30,000

23-24 Actuals

20,000

23-24 Budget

10,000
July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

Sept

Oct

Nov

Dec

Jan

Feb

July
52,660
57,819
58,256
60,867
79,474
74,381

Aug
51,596
53,509
42,379
49,237
60,009
63,729

Sept
47,319
52,454
47,181
53,259
59,303
64,861

Oct
40,300
47,335
39,257
44,825
53,644
55,629

Nov
38,339
42,280
41,784
40,352
49,293
52,726

Dec
26,405
33,139
37,523
33,550
37,111
42,314

Jan
25,330
28,579
28,902
28,416
34,650
36,033

Mar

Apr

YTD thru
February
Feb
25,643 307,592
25,188 340,303
28,035 323,317
26,868 337,374
50,549 424,033
34,253 423,926

May

June

Mar
24,861
28,415
31,242
30,349
37,212

Apr
29,080
37,714
40,702
35,722
46,397

May
40,442
42,556
45,193
41,526
54,981

June
52,141
43,174
51,821
52,443
64,655

Year to Date Performance Status
Expected
Water System Operating revenues for fiscal year 2023-24 are budgeted to increase 26.1% over fiscal year 2022-23 actual results. Year-to-date Water System Operating revenues
through February are 0.0% higher than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an
allocation of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 Water System Operating revenues increased 25.7% compared to the same period in prior year. For the fiscal year 2022-23 Water System
Operating revenues for the full year increased 1.0% over fiscal year 2021-22. Fiscal year 2021-22 increased 0.0% over 2020-21 full year results.

17

Wastewater Revenue (In Thousands of Dollars)
Refer to detailed financial schedules on pages 19 thru 29

Wastewater Operating Revenues
Budget vs Actual
35,000
30,000
25,000
19-20 Actuals

20,000

20-21 Actuals
15,000

21-22 Actuals
22-23 Actuals

10,000

23-24 Actuals
23-24 Budget

5,000
July

Fiscal Year
19-20
20-21
21-22
22-23
23-24
23-24 Budget

Aug

July
18,374
21,205
22,011
18,108
18,448
21,965

Sept

Aug
24,593
22,791
21,971
22,936
22,257
25,436

Oct

Sept
21,373
21,844
26,947
19,029
26,911
24,582

Nov

Oct
20,975
22,234
18,312
22,401
22,957
23,129

Dec

Jan

Feb

Nov
21,142
18,577
21,720
25,044
24,163
23,835

Dec
20,888
24,461
24,380
19,691
25,262
24,644

Jan
22,063
18,430
22,218
26,128
27,645
24,484

Mar

Apr

YTD thru
Feb
February
20,973 170,381
24,355 173,897
21,916 179,475
25,503 178,840
24,321 191,964
25,561 193,636

May

June

Mar
21,613
21,754
23,023
22,405
24,472

Apr
18,428
21,584
24,091
21,595
23,618

May
23,948
20,085
22,296
23,607
24,786

June
18,289
17,424
17,973
28,591
22,676

Year to Date Performance Status
Expected
Wastewater Operating revenues for fiscal year 2023-24 are budgeted to increase 5.1% over fiscal year 2022-23 actual results. Year-to-date Wastewater Operating revenues through
February are 0.9% lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2023-24 monthly budget amounts are based on an allocation of
the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2019-20 through fiscal year 2022-23 actual revenue.
Through February fiscal year 2023-24 Wastewater Operating revenues increased 7.3% compared to the same period in prior year. For the fiscal year 2022-23 Wastewater Operating
revenues for the full year increased 3.1% over fiscal year 2021-22. Fiscal year 2021-22 increased 4.8% over 2020-21 full year results.

18

General Funds
Summary
Presents comparisons of year-to-date balances to
the fiscal year budget and to the actual results for the
prior year for the general fund.

General Fund Revenue
As of FEBRUARY 29
(dollars in thousands)
Budget
Estimate
2023-2024

Actual
Year-to-Date
2023-2024
2022-2023

Revenues
Local Taxes
Sales Taxes
Privilege License Fees
State Shared Taxes
State Sales Tax
State Income Tax
Vehicle License Tax
Primary Property Tax
Licenses and Permits
Cable Communications
Municipal Court
Fines and Forfeitures
Court Default Fee
Police
Library
Parks and Recreation
Engineering & Architectural Services
Planning & Development
Street Transportation
Fire
Emergency Transportation Service
Hazardous Materials Inspection Fee
Other
Interest
Other Fees and Service Charges

Total Revenues

$

$

699,157
3,005

473,938 $
2,736

459,059
2,586

248,655
435,656
85,627
206,935
3,070
8,000

175,721
290,503
55,878
122,531
1,868
3,467

164,873
205,456
54,213
118,611
2,018
3,914

7,987
778
14,511
438
6,372
1,811
6,946

5,606
512
11,433
320
5,249
1,302
10,097

5,105
496
9,320
315
4,241
1,160
7,189

51,332
1,700
18,066
14,540
19,250

6,268
536
11,425
20,736
17,512

30,913
709
12,578
10,413
15,801

1,833,837

19

$

$

1,217,638

$

1,108,970

General Fund Expenditures
As of FEBRUARY 29
(dollars in thousands)
Budget
Estimate
2023-2024

Actual
Year-to-Date
2023-2024
2022-2023

Expenditures and Encumbrances
General Government
Mayor
City Council
City Manager
Information Technology Services
Public Information
Equal Opportunity
Law
City Auditor
City Clerk
Human Resources
Budget and Research
Finance
Others
Total General Government

$

2,700
6,854
11,109
92,038
4,778
3,486
34,148
3,682
9,744
30,340
4,563
29,093
1,944
234,477

$

1,664 $
3,886
5,998
59,314
3,228
2,105
20,870
2,522
6,363
20,605
3,339
17,905
3,062
150,860

1,519
3,129
5,630
49,768
2,281
1,549
18,440
2,267
4,042
16,699
3,439
13,749
2,752
125,264

Criminal Justice
Municipal Court
Public Defender
Total Criminal Justice

38,970
6,295
45,265

25,062
3,892
28,955

23,400
3,302
26,703

Public Safety
Police
Fire
Others
Total Public Safety

741,278
481,278
1,222,556

493,706
321,507
815,213

448,439
272,104
720,543

Transportation
Street Transportation
Public Transit
Total Transportation

25,473
25,473

16,636
16,636

15,916
1,890
17,806

Community Development
Economic Development
Neighborhood Services Department
Planning and Development
Others
Total Community Development

9,771
20,578
7,072
2,003
39,424

6,162
13,064
3,757
1,666
24,649

4,828
10,837
2,607
1,360
19,632

Community Enrichment
Parks and Recreation
Library
Human Services
Others
Total Community Enrichment

128,060
49,928
40,944
9,235
228,167

84,073
32,317
24,583
7,159
148,132

70,860
30,845
16,100
6,806
124,611

Environmental Services
Public Works
Environmental Programs
Others
Total Environmental Services

36,023
1,789
715
38,527

21,875
936
358
23,169

14,962
758
616
16,337

Capital Improvement

121,532

10,594

11,667

Vacancy Savings

(28,000)

-

-

-

-

Contingencies
Total Expenditures and Encumbrances

101,247
$

20

2,028,668

$ 1,218,209 $ 1,062,562

Citywide
Summary
Presents the City's summarized comparisons of the
year-to-date balances to the fiscal year budget and to
the actual results for the prior year.

Citywide Operating Revenue
As of FEBRUARY 29
(dollars in thousands)

Source
General Funds
Local Taxes:
Sales Taxes
Privilege License Fees
State Shared Taxes:
State Sales Tax
State Income Tax
Vehicle License Tax
Primary Property Tax
Licenses and Permits
Cable Communications
Municipal Court
Police
Library Fees
Parks and Recreation
Planning & Development
Street Transportation
Fire
Interest
Other Fees and Service Charges

Budget
Estimate
2023-2024

$

699,157
3,005

Total General Funds
Special Revenue and Debt Service Funds
Neighborhood Protection
Public Safety Enhancement & Expansion
Parks and Preserves
Golf Courses
Transit 2000 & 2050
Court Awards
Planning and Development
Capital Construction
Sports Facilities
Highway User Revenue
Regional Transit Revenues
Community Reinvestment
Other Restricted Fees
Grants
G.O. Bond/Secondary Property Tax

Total Special Revenue and
Debt Service Funds
Enterprise Funds
Aviation
Convention Center
Water System
Wastewater
Solid Waste

Total Enterprise Funds
Total Operating Revenues

$

473,938 $
2,736

459,059
2,586

248,655
435,656
85,627
206,935
3,070
8,000
8,764
14,511
438
6,372
1,811
6,946
71,098
14,540
19,250

175,721
290,503
55,878
122,531
1,868
3,467
6,118
11,433
320
5,249
1,302
10,097
18,229
20,736
17,512

164,873
205,456
54,213
118,611
2,018
3,914
5,601
9,320
315
4,241
1,160
7,189
44,201
10,413
15,801

1,833,837

1,217,638

1,108,970

53,788
136,966
56,273
10,130
402,264
4,673
84,311
6,157
32,452
158,475
82,429
11,905
51,070
790,214
134,938

34,969
89,455
38,062
7,617
268,407
(2,231)
62,437
5,276
19,167
104,176
46,785
3,497
21,009
190,747
79,722

34,057
85,986
36,913
6,473
253,812
(500)
73,083
4,281
17,949
100,381
25,457
3,226
20,359
94,452
74,443

2,016,044

969,095

830,373

528,508
112,998
627,172
289,188
197,194

381,529
75,241
424,033
191,964
140,369

319,834
71,048
337,374
178,840
135,255

1,755,060

1,213,137

1,042,350

5,604,941

21

Actual
Year-to-Date
2023-2024
2022-2023

$

$ 3,399,870 $ 2,981,693

Citywide Operating Expenditures
As of FEBRUARY 29
(dollars in thousands)

Source
General Government
General Funds
Other Funds
Total General Government

Actual
Year-to-Date
2023-2024
2022-2023

Budget
2023-2024

150,860 $
25,018
175,878

125,264
41,372
166,636

45,265
9,015
54,280

28,955
5,467
34,422

26,703
4,586
31,289

Public Safety
General Funds
Other Funds
Total Public Safety

1,222,556
325,176
1,547,732

815,213
196,043
1,011,256

720,543
186,195
906,738

Transportation
General Funds
Other Funds
Total Transportation

25,473
888,969
914,442

16,636
645,565
662,201

17,806
592,690
610,496

Community Development
General Funds
Other Funds
Total Community Development

39,424
374,802
414,226

24,649
188,188
212,837

19,632
151,868
171,500

Community Enrichment
General Funds
Other Funds
Total Community Enrichment

228,167
250,687
478,854

148,132
179,956
328,088

124,611
200,582
325,193

Environmental Services
General Funds
Other Funds
Total Environmental Services

38,527
880,336
918,863

23,169
581,244
604,413

16,337
527,768
544,105

Debt Service
General Funds
Other Funds
Total Debt Service

136,900
136,900

90,667
90,667

164,239
164,239

121,532
1,655,365
1,776,897

10,594
360,943
371,537

11,667
247,471
259,138

$

Criminal Justice
General Funds
Other Funds
Total Criminal Justice

Capital Improvement
General Funds
Other Funds
Total Capital Improvement

234,477
53,242
287,719

$

Non-Departmental Grants
General Funds
Other Funds
Total Non-Departmental Grants

71,377
71,377

-

-

Vacancy Savings
General Funds
Other Funds
Total Vacancy Savings

(28,000)
(28,000)

-

-

Contingencies
General Funds
Other Funds
Total Contingencies

101,247
75,500
176,747

-

-

2,028,668
4,721,369
6,750,037

1,218,208
2,273,091
3,491,297 $

Total Operating
General Funds
Other Funds
Total Operating Budget

$

22

$

1,062,563
2,116,771
3,179,336

Citywide
Detail
Presents, in detail, the results of the City's operations
for the current month and for the fiscal year-to-date.
Included are breakdowns of the City's revenues,
operating budget expenditures, capital budget
expenditures and bonds authorized and sold.

Citywide Operating Revenue by Source
For the Month Ended
FEBRUARY 29
2024
2023

Budget
Estimate
2023-2024

Source

Actual Year-to-Date
2023-2024
2022-2023

General Funds
$

52,115,912 $
(46,076)

54,420,577
261,151

Local Taxes:
Sales Taxes
Privilege License Fees

52,069,836

54,681,728

Total Local Taxes

702,162,501

476,673,606

461,645,317

21,264,043
36,312,872
6,343,047

19,204,725
25,681,939
6,276,302

State Shared Taxes:
State Sales Tax
State Income Tax
Vehicle License Tax

248,655,000
435,656,000
85,627,000

175,720,851
290,502,976
55,877,642

164,873,097
205,455,514
54,212,885

63,919,962

51,162,966

769,938,000

522,101,469

424,541,496

5,023,632

4,772,037

Primary Property Tax

206,935,000

122,530,686

118,610,615

$

Total State Shared Taxes

699,157,051
3,005,450

$

473,937,691
2,735,915

$

459,059,197
2,586,120

173,000

332,490

Licenses and Permits

3,070,000

1,868,489

2,017,657

1,774,045

1,996,645

Cable Communications

8,000,000

3,466,533

3,913,532

817,147
87,852

670,944
78,640

Municipal Court:
Fines and Forfeitures
Court Default Fee

7,986,764
777,600

5,606,090
511,938

5,105,451
495,977

904,999

749,584

8,764,364

6,118,028

5,601,428

1,568,041

2,545,208

14,511,088

11,433,140

9,320,480

24,147

18,435

Library Fees

438,376

320,492

314,679

497,603

474,044

Parks and Recreation

6,371,912

5,248,931

4,240,901

235,454

124,534

Planning and Development

1,810,900

1,301,893

1,160,332

513,640

563,534

Street Transportation

6,946,062

10,097,173

7,188,707

Fire:
Emergency Transportation Service
Hazardous Materials Inspection Fee
Other

51,332,000
1,700,000
18,066,317

6,267,900
536,342
11,425,140

30,912,980
709,275
12,578,413

71,098,317

18,229,382

44,200,668

Interest

14,539,712

20,735,910

10,413,024

Other Fees and Service Charges

19,250,440

17,511,942

15,800,925

1,833,836,672

1,217,637,674

1,108,969,761

(35,099,594)
49,454
279,457

2,976,944
51,250
2,408,103

(34,770,683)

5,436,297

2,806,681

1,924,656

1,280,557

906,940

96,020,914

125,689,098

Total Municipal Court
Police

Total Fire

Total General Funds

Special Revenue and Debt Service Funds
3,474,473
248,176
1,240,882
62,721

3,122,777
223,055
1,115,277
56,897

Neighborhood Protection:
Police Neighborhood Protection
Police Blockwatch
Fire Neighborhood Protection
Interest/Other

37,394,341
2,671,453
13,356,262
365,618

24,119,118
1,722,794
8,613,970
512,948

23,555,060
1,682,504
8,412,521
407,251

5,026,252

4,518,006

Total Neighborhood Protection

53,787,674

34,968,830

34,057,336

12,574,341
4,824,802
54,321

8,377,458
2,544,249
43,804

103,978,215
32,710,001
278,000

67,440,361
21,327,772
687,213

65,222,137
20,436,098
327,706

17,453,464

10,965,511

136,966,216

89,455,346

85,985,941

5,433,911

4,746,513

56,272,960

38,062,456

36,913,459

Public Safety Enhancement & Expansion:
Police
Fire
Interest/Other
Total Public Safety Enhancement & Expansion
Parks and Preserves

23

Citywide Operating Revenue by Source
For the Month Ended
FEBRUARY 29
2024
2023
$

855,332
342,127
20,302
49,796

$

Budget
Estimate
2023-2024

Source

738,006
311,853
9,242
35,706

Golf Courses:
Fees
Coffee Shops
Concessions
Interest
Other

$

6,566,050
3,022,550
45,000
496,615

Actual Year-to-Date
2023-2024
2022-2023
$

4,927,326
2,203,110
136,192
350,155

$

4,035,633
2,051,095
59,129
326,704

1,267,557

1,094,807

Total Golf Courses

10,130,215

7,616,783

6,472,561

33,735,001
3,093,936

30,424,919
2,767,761

Transit 2000 & 2050:
Sales Taxes
Interest/Other

364,772,821
37,490,765

235,418,914
32,987,762

229,355,862
24,455,708

36,828,937

33,192,680

402,263,586

268,406,676

253,811,570

Court Awards

4,672,692

(2,230,524)

(500,273)

Planning and Development

84,311,300

62,437,249

73,083,132

Capital Construction

6,157,424

5,275,908

4,280,537

Sports Facilities:
Sales Taxes
Interest/Other

28,487,629
3,964,315

16,305,385
2,861,219

16,327,516
1,621,726

292,869

-

Total Transit 2000 & 2050

6,055,519

7,951,236

573,622

454,878

2,370,250
283,188

2,191,192
151,742

2,653,438

2,342,934

Total Sports Facilities

32,451,944

19,166,604

17,949,242

11,028,358
561,438
(71,178)

11,772,742
299,179
3,292

Highway User Revenue:
Highway User Revenue
Interest
Other

157,955,000
500,000
20,000

99,755,627
4,144,332
275,414

98,534,845
1,791,898
54,252

11,518,618

12,075,213

158,475,000

104,175,373

100,380,995

-

-

Total Highway User Revenue
Local Transportation Assistance

-

-

-

5,480,872

3,257,307

Regional Transit Revenues

82,428,550

46,785,177

25,456,953

272,448

143,071

Community Reinvestment

11,905,291

3,496,679

3,226,199

(9,561,770)

5,657,712

Other Restricted Fees

51,069,507

21,009,341

20,359,275

409,465
11,039,886
1,043,529

458,755
14,108,790
2,441,176

Grants:
Public Housing:
Rentals
Grants
Other

5,139,519
180,635,763
60,510,644

3,241,715
100,235,379
18,258,533

3,038,495
76,150,921
8,453,671

12,492,880

17,008,721

246,285,926

121,735,627

87,643,087

14,183,607
6,074,850
1,334,881
4,209,439

4,792,059
7,213,703
2,153,620

69,661,897
136,907,541
58,578,515
278,779,742

43,964,366
(17,537,430)
6,960,808
35,623,388

25,249,305
(30,360,299)
1,270,741
10,648,928

25,802,777

14,159,382

Total Other

543,927,695

69,011,132

6,808,675

38,295,657

31,168,103

Total Grants

790,213,621

190,746,759

94,451,762

3,140,000
738,859

2,915,095
-

131,092,075
3,846,046

77,532,273
2,190,119

74,259,949
183,494

3,878,859

2,915,095

134,938,121

79,722,392

74,443,443

125,470,253

120,483,066

2,016,044,101

969,095,049

830,372,132

Total Public Housing
Other:
Human Resources
Federal Transit Administration
Community Development
Other

G.O. Bond/Secondary Property Tax
Secondary Property Tax
Interest
Total G.O. Bond/Secondary Property Tax
Total Special Revenue and Debt Service Funds

24

Citywide Operating Revenue by Source
For the Month Ended
FEBRUARY 29
2024
2023

Budget
Estimate
2023-2024

Source

Actual Year-to-Date
2023-2024
2022-2023

Enterprise Funds
AVIATION:
$

11,515,436 $
31,364,288
1,954,137
194,544
295,252
527,066
576,478

9,361,368
28,814,673
934,325
17,075,705
279,396
464,528
360,951

46,427,201

57,290,946

Sky Harbor:
Airlines
Concessions
Interest
Other
Phoenix-Goodyear
Phoenix-Deer Valley
Phoenix-Customer Facility Charge

$

Total Aviation

132,626,916
374,531,216
8,130,000
3,270,252
2,984,888
3,584,906
3,380,000

$

90,469,959
257,200,838
21,975,469
2,124,936
2,381,580
2,860,363
4,515,890

$

72,197,287
236,643,521
5,670,246
(1,697,872)
2,298,176
2,527,475
2,194,926

528,508,178

381,529,035

319,833,759

86,163,389
25,634,387
1,200,000

52,647,257
18,986,817
3,607,306

53,045,608
16,831,087
1,171,254

112,997,776

75,241,380

71,047,949

567,565,219
5,000,000
9,382,054
10,703,646
6,200,000
7,213,000
21,108,100

353,573,426
1,764,073
6,166,280
6,403,654
4,349,636
8,760,342
43,015,989

306,909,681
1,853,120
5,464,737
6,675,090
5,152,080
4,465,905
6,853,398

627,172,019

424,033,400

337,374,011

CONVENTION CENTER:
7,239,205
2,099,875
492,029

6,717,376
2,291,659
218,275

9,831,109

9,227,310

Excise Taxes
Operating Revenue
Interest
Total Convention Center
WATER SYSTEM:

26,012,720
200,862
362,587
797,464
372,480
1,112,992
21,690,070

23,030,072
226,197
402,540
1,085,622
660,180
701,179
762,504

50,549,175

26,868,294

Water Sales
Water Service Fees
Distribution
Intergovernmental
Development Fees
Interest
Other
Total Water System
WASTEWATER:

18,945,383
1,993,755
354,420
1,097,362
1,929,870

17,309,234
3,774,355
652,200
686,550
3,080,253

Sewer Service Charges
Multi-City
Development Fees
Interest
Other

232,083,321
16,357,249
6,200,000
9,367,000
25,180,224

149,042,836
13,377,506
4,173,720
8,498,069
16,871,405

135,760,942
14,612,570
4,905,180
4,221,728
19,339,103

24,320,790

25,502,592

Total Wastewater

289,187,794

191,963,536

178,839,523

178,603,138
13,906,117
450,000
4,235,040

122,157,063
9,820,550
1,274,746
7,117,077

118,434,612
8,714,542
740,111
7,365,764

197,194,295

140,369,436

135,255,029

1,755,060,062

1,213,136,787

1,042,350,271

SOLID WASTE:

$

15,514,568
1,081,994
150,493
994,722

15,066,009
844,849
120,985
894,350

17,741,777

16,926,193

148,870,052

135,815,335

370,361,219

$

381,987,499

Collection Fees
Landfill Fees
Interest
Other
Total Solid Waste
Total Enterprise Funds
Total Operating Revenues

$

25

5,604,940,835

$

3,399,869,510

$

2,981,692,164

Citywide Operating Expenditures by Program
For the Month Ended
FEBRUARY 29
2024
2023

Program

Budget
Estimate
2023-2024

2023-2024 Year-to-Date
Operating Expenditures & Encumbrances
Capital
Operations
and Debt

Actual Year-to-Date
2023-2024
2022-2023

General Government
$

189,532 $
380,488
(898,369)
11,096,766
92,947
299,015
278,888
2,668,088
213,727
476,381
1,970,370
285,993
17,206
377,398
1,997,243
616,286

179,133
400,966
837,426
9,945,348
68,856
217,265
168,909
2,457,795
227,634
543,840
3,100,888
187,514
8,098
291,814
959,412
306,584

20,061,960

19,901,483

Mayor
$
City Council
City Manager
Information Technology Services
Government Relations
Public Information
Equal Opportunity
Law
City Auditor
City Clerk
Human Resources
Retirement Systems
Phoenix Employment Relations Board
Budget and Research
Finance
Regional Wireless Cooperative
Total General Government

2,700,000
6,854,261
17,288,658
105,471,392
1,580,787
4,803,103
4,066,660
35,832,717
3,682,271
9,744,371
38,268,397
852,015
129,248
4,562,718
45,001,681
6,881,164

$

1,663,542
3,885,677
6,786,222
68,268,577
1,266,055
3,236,665
2,463,887
21,898,750
2,522,113
6,362,873
22,503,255
2,145,899
64,328
3,338,579
27,084,559
2,386,894

$

1,518,644
3,129,025
6,110,286
57,606,814
920,282
2,409,563
1,877,087
19,548,051
2,267,413
4,041,508
37,274,042
2,027,848
46,090
3,439,442
21,891,732
2,528,650

$

1,663,542
3,885,677
6,786,222
59,890,241
1,266,055
3,236,665
2,463,887
21,898,750
2,522,113
6,362,873
22,074,935
2,145,899
64,328
3,338,579
19,224,410
2,386,894

$

8,378,336
428,320
7,860,149
-

287,719,443

175,877,874

166,636,477

159,211,069

16,666,805

47,984,830
6,295,331

30,529,453
3,892,227

27,987,117
3,302,187

26,320,185
3,892,227

4,209,267
-

54,280,161

34,421,679

31,289,304

30,212,412

4,209,267

980,679,674
567,051,944
-

638,084,819
373,170,745
-

584,161,395
322,576,610
-

636,728,534
371,815,571
-

1,356,284
1,355,174
-

1,547,731,618

1,011,255,563

906,738,005

1,008,544,105

2,711,458

Criminal Justice
3,372,348
537,261

3,252,639
447,573

3,909,609

3,700,212

Municipal Court
Public Defender
Total Criminal Justice
Public Safety

64,436,431
37,282,490
-

72,520,545
31,865,832
-

101,718,921

104,386,378

Police
Fire
Other
Total Public Safety
Transportation

8,021,035
446,993
35,041,444
4,016,065

5,995,191
961,913
31,432,540
3,532,120

Street Transportation
Street Lighting
Aviation
Public Transit

126,809,355
10,266,365
442,525,728
334,840,200

77,365,355
7,932,443
272,630,059
304,272,970

76,149,467
7,200,332
259,889,909
267,256,612

69,932,517
7,932,443
207,717,007
304,272,970

7,432,838
64,913,052
-

47,525,536

41,921,764

Total Transportation

914,441,648

662,200,828

610,496,319

589,854,937

72,345,890

Community Development
6,339,116
13,458,884
(66,696)
2,897,639

6,674,947
10,024,588
1,262,398
1,913,735

Planning and Development
Housing
Economic Development
Neighborhood Services Department

96,447,351
198,034,489
28,666,019
91,078,576

59,354,903
105,760,631
19,351,659
28,369,813

53,858,491
79,030,488
15,164,501
23,446,425

59,354,903
105,379,893
15,450,777
28,369,813

380,737
3,900,882
-

22,628,942

19,875,667

Total Community Development

414,226,435

212,837,005

171,499,905

208,555,386

4,281,620

150,922,077
52,713,101
76,642,732
12,759,875
172,977,937
6,219,799
6,618,485

97,536,191
33,257,751
52,351,547
8,506,104
126,485,391
5,431,745
4,518,956

82,793,746
31,978,256
50,225,523
8,751,221
141,632,473
5,525,385
4,286,784

97,112,469
33,257,751
40,697,667
126,402,925
5,431,745
4,518,956

423,721
11,653,880
8,506,104
82,466
-

478,854,006

328,087,684

325,193,388

307,421,514

20,666,171

Community Enrichment
9,224,614
3,119,142
3,715,476
1,063,173
12,466,095
101,751
214,858

7,798,786
2,838,688
3,576,051
1,093,813
15,176,715
60,957
341,098

29,905,108

30,886,107

Parks and Recreation
Library
Convention Center
Sports and Cultural Facilities
Human Services
Public Parking Facilities
Other
Total Community Enrichment

26

Citywide Operating Expenditures by Program
For the Month Ended
FEBRUARY 29
2024
2023

Budget
Estimate
2023-2024

Program

2023-2024 Year-to-Date
Operating Expenditures & Encumbrances
Capital
Operations
and Debt

Actual Year-to-Date
2023-2024
2022-2023

Environmental Services
$

28,868,541 $
16,666,456
14,128,261
2,994,460
396,539
(254,996)

24,976,948
14,601,278
11,448,243
1,459,347
277,049
89,873

Water System
Wastewater
Solid Waste Management
Public Works
Environmental Programs
Manager's Office of Sustainability

62,799,261

52,852,738

Total Environmental Services

$

457,619,596
224,901,618
182,579,989
47,591,219
5,070,133
1,100,374

$

303,616,449
148,837,504
119,755,750
29,169,635
2,527,476
505,880

$

272,388,165
131,587,464
111,962,975
24,387,978
3,123,268
654,869

$

201,888,006
92,630,140
113,769,083
21,893,657
2,527,476
505,880

$

101,728,443
56,207,364
5,986,667
7,275,978
-

918,862,929

604,412,693

544,104,718

433,214,242

171,198,452

12,670,339
23,155,869
100,500
14,829,694
626,325
3,029,663
558,750
12,892,226
6,768,002
377,425
17,184,992
12,573,822
1,087,431
900,036
600,000
17,778,600
11,412,282
33,000
321,419

8,446,892
15,437,245
67,000
9,886,463
417,550
2,019,775
372,500
8,594,817
4,512,001
251,617
11,456,661
8,382,547
724,954
12
400,000
11,852,400
7,608,188
22,000
214,286

44,492,287
11,378,547
1,420,300
6,183,828
611,083
2,161,250
221,167
8,112,134
8,108,928
163,450
22,733,368
12,358,392
724,954
1,772,427
400,000
31,527,071
11,616,227
39,333
214,286

8,446,892
15,437,245
67,000
9,886,463
417,550
2,019,775
372,500
8,594,817
4,512,001
251,617
11,456,661
8,382,547
724,954
12
400,000
11,852,400
7,608,188
22,000
214,286

-

General Obligation Debt Service

$

1,055,862
1,929,656
8,375
1,235,808
52,194
252,472
46,563
1,074,352
564,000
31,452
1,432,083
1,047,818
90,619
50,000
1,481,550
951,024
2,750
26,786

1,952,923
1,420,565
176,313
638,663
52,010
183,009
27,646
542,998
584,835
20,431
1,502,655
1,053,105
90,619
50,000
1,589,303
989,422
2,417
26,786

11,333,362

10,903,701

Total Debt Service

136,900,375

90,666,908

164,239,033

90,666,908

-

38,145,655

48,556,015

Capital Improvement

1,776,896,584

371,536,981

259,138,436

371,536,981

-

-

-

Non-Departmental Grants

71,376,828

-

-

-

-

-

-

Vacancy Savings

(28,000,000)

-

-

-

-

-

-

Contingencies

176,747,000

-

-

-

-

338,028,355 $

332,984,065

Cultural Facilities
Downtown Development
Economic Development
Environmental Services
Fire Protection
Freeway Mitigation
Historic/Neighborhood Preservation
Human Services
Information Systems
Libraries
Maintenance Service Centers
Mountain Preserves/Parks
Municipal Administration Buildings
Police Protection
Public Housing Renovation
Sanitary Sewers
Secondary Property Tax
Solid Waste Enterprise Bonds
Storm Sewer Improvements
Street Improvements
Street Light Refinancing
Water System

$

6,750,037,027

$

27

3,491,297,216

$

3,179,335,584

$

3,199,217,554

$

292,079,662

Capital Expenditures and Encumbrances
2023-2024
Program
General Government
Arts and Cultural Facilities
Economic Development
Facilities Management
Finance
Fire Protection
Housing
Human Services
Information Technology
Libraries
Neighborhood Services
Non-Departmental Capital
Parks and Mountain Preserves
Planning & Historic Preservation
Police Protection
Public Art Program
Public Transit
Regional Wireless Cooperative
Street Transportation & Drainage
General Government Subtotal

Enterprise
Aviation
Phoenix Convention Center
Solid Waste Disposal
Wastewater
Water System
Enterprise Subtotal
Total Capital Budget Program

2022-2023
Actual Yearto-Date

Actual Yearto-Date

Budget

From Operating Funds
Budget
Actual

2023-2024 Year-to-Date Capital Amounts
From Capital Funds
Budget
Actual

Unencumbered
Budget

$

3,047,246 $
17,088,263
54,172,333
1,030,894
52,713,739
132,222,515
7,762,972
52,194,863
11,283,653
2,399,033
668,256,841
156,600,628
26,563,000
17,759,000
7,384,150
516,206,676
6,001,000
390,042,281

385,846 $
8,798,541
8,479,891
4,285,130
18,423,173
7,981,413
9,288,630
510,481
451,154
61,799,931
41,822,247
26,054,461
8,357,398
3,454,339
45,887,819
76,886,167

23,431,147
11,566,513
1,373,069
18,064,777
3,011,643
2,909,671
328,247
398,854
61,228,155
20,182,671
2,061,967
12,453,597
1,114,161
37,957,431
65,359,031

$

1,946,965 $
17,088,263
33,146,079
20,044,385
119,057,634
7,162,972
44,057,688
5,988,553
2,399,033
36,850,000
129,877,565
26,563,000
2,338,233
515,949,670
226,383,532

376,734
8,798,541
7,986,705
957,361
15,173,329
7,981,413
7,268,545
510,481
451,154
34,781,794
26,054,461
760,302
45,772,483
57,222,805

$

1,100,281 $
21,026,254
1,030,894
32,669,354
13,164,881
600,000
8,137,175
5,295,100
631,406,841
26,723,063
17,759,000
5,045,917
257,006
6,001,000
163,658,749

9,112
493,186
3,327,770
3,249,844
2,020,085
61,799,931
7,040,453
8,357,398
2,694,037
115,336
19,663,362

$

2,661,400
8,289,722
45,692,442
1,030,894
48,428,609
113,799,342
(218,441)
42,906,233
10,773,172
1,947,879
606,456,910
114,778,381
508,539
9,401,602
3,929,811
470,318,857
6,001,000
313,156,114

$

2,122,729,087 $

322,866,623 $

261,440,933

$

1,188,853,572 $

214,096,108

$

933,875,515 $

108,770,515

$

1,799,862,464

$

$

1,194,244,623
45,705,232
38,014,265
381,016,677
631,102,319
2,290,083,116

$

4,412,812,203

$

$

89,279,750
12,254,816
12,624,703
95,215,711
124,607,026
333,982,007

$

656,848,630

$

$

26,867,389
139,255,878
16,753,622
77,170,890
54,427,147
314,474,925

$

234,286,116
8,935,232
14,252,847
134,919,809
195,649,008
588,043,012

42,055,341
6,116,829
2,501,264
51,561,134
55,206,305
$ 157,440,873

$

575,915,859

$ 1,776,896,584

$ 371,536,981

28

$

$

$

$

959,958,507
36,770,000
23,761,418
246,096,868
435,453,311
1,702,040,104

$

2,635,915,619

$

$

47,224,410
6,137,987
10,123,439
43,654,577
69,400,721
176,541,134

$

$

1,104,964,873
33,450,416
25,389,562
285,800,966
506,495,293
1,956,101,109

$

285,311,649

$

3,755,963,573

Bonds Authorized and Sold
As of FEBRUARY 29
(dollars in thousands)
Authorized

Sold

Available

1988 Authorizations
General Obligation Bonds
Freeway Mitigation, Neighborhood Stabilization,
and Slum and Blight Elimination
Bonds Fully Issued

$

Total General Obligation Bonds
Revenue Bonds
Bonds Fully Issued
Total 1988 Authorizations

29,285
884,175

$

28,285
884,175

$

1,000
-

913,460

912,460

1,000

143,890

143,890

-

1,057,350

1,056,350

1,000

66,300
125,300
24,800
61,500
12,000
33,000
91,500
74,000
77,000
78,800
66,000
43,700

64,600
124,685
24,170
60,700
11,205
32,100
89,275
71,645
72,575
77,685
65,950
43,700

1,700
615
630
800
795
900
2,225
2,355
4,425
1,115
50
-

753,900

738,290

15,610

81,000
11,100
198,700
12,800
104,622
74,705
29,178
115,500
107,295
78,200
65,400

63,385
8,510
190,610
8,345
85,510
61,200
21,100
102,290
81,900
58,135
61,770

17,615
2,590
8,090
4,455
19,112
13,505
8,078
13,210
25,395
20,065
3,630

878,500

742,755

135,745

2001 Authorization
General Obligation Bonds
Education, Youth and Family Cultural Facilities
Computer Technology
Environmental Cleanup
Fire Protection
Historic Preservation
Library Facilities
Street Improvements
Neighborhood Protection and Senior Centers
Parks, Open Space, and Recreational Facilities
Police Protection
Storm Sewer and Flood Protection
Bonds Fully Issued
Total 2001 Authorizations
2006 Authorization
General Obligation Bonds
Affordable Housing and Neighborhood Revitalization
Computer Technology
Education and Health Science Facilities
Environmental Cleanup
Family, Senior, and Youth Cultural Facilities
Fire Protection
Library Facilities and Improvements
Parks, Open Space, and Recreational Facilities
Police Protection
Street Improvements
Storm Sewer and Flood Protection
Total 2006 Authorizations
Total Bond Program

$

29

2,689,750

$

2,537,395

$

152,355