November 2025
Monthly Financial Report

PREPARED BY
Financial Accounting & Reporting Division

November 30, 2025
To the Mayor and City Council:
This is the City's Financial Report for November, the fifth month of fiscal year 2025-26.
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

Jodi Nicholson
Deputy Finance Director

February 24, 2026

INDEPENDENT AUDITOR REPORT
To the Chief Financial Officer,
We have assessed the Finance Department’s (Finance) November 2025 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 October 6, 2025.
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
November 2025
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

Criminal Justice

1

Better than Expected

Public Safety

2

Better than Expected

Transportation

2

Better than Expected

Community Development

2

Better than Expected

Community Enrichment

3

Better than Expected

Environmental Services

3

Better than Expected

Citywide Expenditures
Citywide Total Operating Expenditures

4

Better than Expected

General Government

4

Better than Expected

Criminal Justice

4

Better than Expected

Public Safety

5

Better than Expected

Transportation

5

Better than Expected

Community Development

5

Better than Expected

Community Enrichment

6

Better than Expected

Environmental Services

6

Better than 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

Better than Expected

Local Sales Tax

12

Monitor and Consider Taking Action

State Sales Tax

13

Better than Expected

Vehicle License Tax

14

Expected

Governmental Funds

15

Monitor and Consider Taking Action

Aviation

16

Better than Expected

Water System

17

Monitor and Consider Taking Action

Wastewater

18

Better than Expected

Revenues by Source

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
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
617,214
1,470,251
688,027
1,623,808
815,934
1,844,878
846,823
1,936,514
832,175
2,012,994

Total General Fund
% of Annual
Expenditures
42.0%
42.4%
44.2%
43.7%
41.3%

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

$2,500,000
November YTD
Expenditures

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

Annual
Expenditures *

$500,000
$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

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 2025-26 budgeted general fund expenditures are 3.9% higher than the fiscal year 2024-25 actuals. Fiscal year 2025-26 actual general fund
expenditures through November are 1.7% lower than the same period in fiscal year 2024-25. The decrease is due to lower professional services and rents in fiscal year 2025-26.
General fund expenditures increased 5.0% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 13.6% from 2023-24 over 2022-23 and an increase of 10.4%
from 2022-23 over 2021-22 fiscal results.

General Government

General Government

Annual
% of Annual
November YTD
Fiscal Year Expenditures Expenditures * Expenditures
21-22
46.3%
74,961
161,907
22-23
44.2%
84,385
190,945
23-24
44.4%
99,854
224,802
24-25
47.5%
118,072
248,524
25-26
43.9%
108,359
246,694
* For prior years -- total actual expenditures;
for current year -- total approved budget net of adjustment for contingencies.

$300,000
$250,000

November YTD
Expenditures

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

Annual
Expenditures *

$50,000
$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

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 2025-26 budgeted general fund expenditures are 0.7% lower than the fiscal year 2024-25 actuals. Fiscal year 2025-26 actual
general fund expenditures through November are 8.2% lower than the same period in fiscal year 2024-25. The decrease is in Information Technology.
General fund expenditures increased 10.6% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 17.7% from 2023-24 over 2022-23 and an increase of 17.9%
from 2022-23 over 2021-22 fiscal results.

Criminal Justice
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Criminal Justice

Annual
November YTD
Expenditures Expenditures *
16,259
40,008
17,281
42,361
19,008
43,661
19,465
45,565
18,860
46,847

% of Annual
Expenditures
40.6%
40.8%
43.5%
42.7%
40.3%

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

$50,000
November YTD
Expenditures

$40,000
$30,000

Annual
Expenditures *

$20,000
$10,000
$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

Criminal Justice expenditures include costs for Municipal Courts and Public Defenders. Fiscal year 2025-26 budgeted general fund expenditures are 2.8% higher than the fiscal year
2024-25 actuals. Fiscal year 2025-26 actual general fund expenditures through November are 3.1% lower than the same period in fiscal year 2024-25.
General fund criminal justice expenditures increased 4.4% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 3.1% from 2023-24 over 2022-23 and an
increase of 5.9% from 2022-23 over 2021-22 fiscal results.

1

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

Public Safety

Annual
November YTD
Fiscal Year Expenditures Expenditures *
21-22
409,014
992,648
22-23
452,591
1,082,562
23-24
541,884
1,230,311
24-25
545,712
1,264,947
25-26
553,623
1,321,130

% of Annual
Expenditures
41.2%
41.8%
44.0%
43.1%
41.9%

$1,500,000
November 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
21-22

Better than Expected

22-23

23-24

24-25

25-26

Public Safety expenditures include costs for police and fire services. The anticipated increases are due to higher personal service expenditures for public safety employees in both the
Police and Fire Departments, which includes City pension contributions. Fiscal year 2025-26 budgeted general fund public safety expenditures are 4.4% higher than the fiscal year 202425 actuals. Fiscal year 2025-26 actual general fund public safety expenditures through November are 1.4% higher than the same period in fiscal year 2024-25.
General fund public safety expenditures increased 2.8% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 13.6% from 2023-24 over 2022-23 and an increase
of 9.1% from 2022-23 over 2021-22 fiscal results.

Transportation
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Transportation

Annual
November YTD
Expenditures Expenditures *
10,097
23,166
12,033
24,827
10,421
25,006
10,333
24,687
334
1,902

% of Annual
Expenditures
43.6%
48.5%
41.7%
41.9%
17.6%

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

$30,000
$25,000
November YTD
Expenditures

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

Annual
Expenditures *

$5,000
$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

Transportation expenditures include costs associated with public transit, street maintenance, and repair. Prior to fiscal year 2018-19, the Street Transportation Department charged
these expenses to the general fund, with a portion subsequently transferred to the Arizona Highway User Revenue (AHUR) fund. Beginning in fiscal year 2018-19, the department
revised its funding approach by charging the majority of expenditures directly to AHUR, while allocating a smaller portion to the general fund.
In fiscal year 2025-26, the department continues to charge most expenses to AHUR; however, the portion previously transferred to the general fund is now transferred to the
Transportation 2050 fund. As a result, budgeted general fund transportation expenditures for fiscal year 2025-26 are 92.4% lower than fiscal year 2024-25 actuals, reflecting this shift in
cost allocation. Actual general fund transportation expenditures through November 2025 are 96.8% lower than the same period in fiscal year 2024-25, primarily due to the timing of
expenditure recording.
General fund transportation expenditures decreased 1.3% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 0.7% from 2023-24 over 2022-23 and an
increase of 7.2% from 2022-23 over 2021-22 fiscal results.

Community Development

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
11,138
28,225
13,023
32,420
15,573
37,484
16,872
38,991
16,366
39,949

Community Development
% of Annual
Expenditures
39.5%
40.2%
41.5%
43.3%
41.0%

$50,000
November 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
21-22

Better than Expected

22-23

23-24

24-25

25-26

Community Development expenditures include costs for economic development and neighborhood services. The fiscal year 2025-26 budgeted general fund community development
expenditures are 2.5% higher than the fiscal year 2024-25 actuals. Fiscal year 2025-26 actual general fund community development expenditures through November are 3.0% lower
than the same period in fiscal year 2024-25 primarily due to lower miscellaneous contractuals.
General fund community development expenditures increased 4.0% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 15.6% from 2023-24 over 2022-23 and
an increase of 14.9% from 2022-23 over 2021-22 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
45.1%
46.9%
46.6%
45.8%
45.3%

$250,000

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

$0

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
78,290
173,631
89,425
190,780
102,658
220,465
105,345
230,064
109,521
241,870

November YTD
Expenditures

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

Annual
Expenditures *

$50,000
21-22

22-23

23-24

24-25

25-26

Better than Expected
Community enrichment expenditures include costs for parks, recreational activities, senior centers and community centers. Fiscal year 2025-26 budgeted general fund community
enrichment expenditures are 5.1% higher than the fiscal year 2024-25 actuals. Fiscal year 2025-26 actual general fund community enrichment expenditures through November are 4.0%
higher than the same period in fiscal year 2024-25. The anticipated increase is due to higher contractual services related to parking management and homeless services in fiscal year
2025-26.

General fund community enrichment expenditures increased 4.4% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 15.6% from 2023-24 over 2022-23 and
an increase of 9.9% from 2022-23 over 2021-22 fiscal results.

Environmental Services

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
13,416
26,508
12,043
28,329
17,348
29,088
18,437
33,461
14,959
40,435

Environmental Services
% of Annual
Expenditures
50.6%
42.5%
59.6%
55.1%
37.0%

$50,000
November 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
21-22

Better than Expected

22-23

23-24

24-25

25-26

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 2025-26 budgeted general fund environmental service expenditures are 20.8% higher than the fiscal year 2024-25 actuals. Fiscal year
2025-26 actual general fund environmental service expenditures through November are 18.9% lower than the same period in fiscal year 2024-25.
General fund environmental service expenditures increased 15.0% in fiscal year 2024-25 over fiscal year 2023-24. This followed an increase of 2.7% from 2023-24 over 2022-23 and an
increase of 6.9% from 2022-23 over 2021-22 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
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
2,030,164
4,488,949
2,189,967
4,737,610
2,379,210
5,258,576
2,372,829
5,517,926
2,335,288
7,587,328

Total Citywide
% of Annual
Expenditures
45.2%
46.2%
45.2%
43.0%
30.8%

* 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
November YTD
Expenditures

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

Annual
Expenditures *

$2,000,000
$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

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. Without contingencies and vacancy savings, and including programs budgeted for ARPA, the budget for fiscal year 2025-26 anticipates an increase of 37.5% over
fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are 1.6% lower than the same period in the prior fiscal year.

General Government
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
80,041
238,925
114,813
246,244
114,644
264,112
132,315
291,573
127,124
312,721

General Government
% of Annual
Expenditures
33.5%
46.6%
43.4%
45.4%
40.7%

$400,000
November YTD
Expenditures

$300,000
$200,000

Annual
Expenditures *

$100,000

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

$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

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 2025-26 anticipates an increase of 7.3% over fiscal year 2024-25 actuals in total operating
expenditures. Actual expenditures through November are 3.9% lower than the same period in the prior fiscal year.

Criminal Justice
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Criminal Justice

Annual
November YTD
Expenditures Expenditures *
19,170
47,054
20,301
49,422
22,443
51,475
23,177
53,537
23,947
56,564

% of Annual
Expenditures
40.7%
41.1%
43.6%
43.3%
42.3%

$80,000
November YTD
Expenditures

$60,000
$40,000

Annual
Expenditures *

$20,000

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

$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

Criminal Justice expenditures include costs of the Municipal Court and the Public Defender’s Office. Citywide criminal justice budget for fiscal year 2025-26 anticipates an
increase of 5.7% over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are 3.3% 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
41.6%
42.5%
45.1%
44.3%
41.6%

$2,000,000

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

$0

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
511,477
1,228,901
575,617
1,354,421
671,686
1,487,934
681,998
1,540,015
682,240
1,638,372

November YTD
Expenditures

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

Annual
Expenditures *

$400,000
21-22

22-23

23-24

24-25

25-26

Better than Expected
Public Safety expenditures include costs of Police, Fire and Emergency Management. Citywide public safety budget for fiscal year 2025-26 anticipates an increase of 6.4%
over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are 0.0% higher than the same period in the prior fiscal year.

Transportation
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Transportation

Annual
November YTD
Expenditures Expenditures *
499,601
797,084
504,683
792,941
519,955
853,535
419,463
916,686
433,696
1,075,172

% of Annual
Expenditures
62.7%
63.6%
60.9%
45.8%
40.3%

$1,200,000
$1,000,000

November YTD
Expenditures

$800,000
$600,000

Annual
Expenditures *

$400,000
$200,000

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

$0
21-22

Better than Expected

22-23

23-24

24-25

25-26

Transportation expenditures include costs for street lighting, maintenance and repair, Aviation and Public Transit. Citywide transportation budget for fiscal year 2025-26
anticipates an increase of 17.3% over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are 3.4% 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
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
92,181
227,960
108,877
270,479
132,110
327,281
137,470
332,866
140,104
436,543

Community Development
% of Annual
Expenditures
40.4%
40.3%
40.4%
41.3%
32.1%

$500,000
November 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
21-22

Better than Expected

22-23

23-24

24-25

25-26

Community Development expenditures include costs for Neighborhood Services, Housing, Planning and Economic Development. Citywide community development budget
for fiscal year 2025-26 anticipates an increase of 31.1% over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are 1.9%
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
43.7%
49.0%
48.0%
48.3%
44.5%

$600,000

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

$0

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
183,585
420,501
220,689
450,218
227,959
474,707
229,728
475,390
221,900
499,159

Community Enrichment
November YTD
Expenditures

$450,000
$300,000

Annual
Expenditures *

$150,000

21-22

22-23

23-24

24-25

25-26

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 2025-26 anticipates an increase of 5.0% over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures through November are
3.4% lower than the same period in the prior fiscal year.

Environmental Services

Environmental Services
% of Annual
Expenditures
45.7%
42.2%
45.2%
44.4%
39.9%

$1,250,000

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

$0

Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
344,196
752,386
350,444
830,101
405,026
897,028
395,910
891,531
408,022
1,021,461

November YTD
Expenditures

$1,000,000
$750,000
$500,000

Annual
Expenditures *

$250,000
21-22

22-23

23-24

24-25

25-26

Better than 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 2025-26 anticipates an increase of 14.6% over fiscal year 2024-25 actuals in total operating expenditures. Actual expenditures
through November are 3.1% higher than the same period in the prior fiscal year.

Citywide Debt Service Expenditures
Fiscal Year
21-22
22-23
23-24
24-25
25-26

Annual
November YTD
Expenditures Expenditures *
54,758
131,081
131,406
207,854
56,667
136,000
60,016
142,806
59,528
149,538

Citywide Debt Service
% of Annual
Expenditures
41.8%
63.2%
41.7%
42.0%
39.8%

$240,000
November 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
21-22

22-23

23-24

24-25

25-26

Better than Expected
Citywide debt service expenditures include general obligation debt service and payments on loans from direct borrowings. Citywide debt service expenditures budget for
fiscal year 2025-26 has an increase of 4.7% over fiscal year 2024-25 actuals in total operating expenditures. Actual debt service expenditures through November 2025 are
0.8% 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.

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

21-22

General Government $ 525,852

22-23

23-24

24-25

25-26 (Budget)

25-26 (YTD)

$ 494,744

$ 576,065

$ 828,130

$ 1,842,175

$

171,689

Discussion:
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 for 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.

General Government
25-26 (YTD)
25-26 (Budget)

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, the City has budgeted $100 million for
contingencies.

24-25
23-24
22-23
21-22
$0

$500

$1,000

$1,500

$2,000

$2,500

Major projects budgeted for in fiscal year 2023-24 included $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, the City has budgeted $100 million for contingencies.
Major projects budgeted for in fiscal year 2024-25 included $158 million for major streets and bridges projects, $142 million to purchase standard buses, design first and
second corridors Bus Rapid Transit, $115 million for Light Rail extension, construction, right-of-way and acquisition of property, $50 million to acquire parcels along the
Capitol and I-10 corridor, and $18 million for affordable housing construction. Additionally, the City has budgeted $78 million for contingencies.
Major projects budgeted for in fiscal year 2025-26 include $117 million for Light Rail extension, construction, right-of-way and acquisition of property, $102 million for
major street construction, $63 million to purchase standard buses, $50 million to acquire parcels along the Capitol and I-10 corridor, and $22 million for affordable
housing construction. Additionally, the City has budgeted $124 million for contingencies.

21-22

Aviation $ 115,395

22-23

23-24

24-25

25-26 (Budget)

25-26 (YTD)

$ 134,479

$ 695,968

$ 399,599

$ 1,528,407

$

344,032

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

Aviation
25-26 (YTD)

Major projects budgeted for in fiscal year 2022-23 included $11 million on 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 Airport, $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 has budgeted $176 million for contingencies.

25-26 (Budget)
24-25
23-24
22-23
21-22
$0

$500

$1,000

$1,500

$2,000

Major projects budgeted for in fiscal year 2023-24 included $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 has
budgeted $377 million for contingencies.

Major projects budgeted for in fiscal year 2024-25 included $121 million for Terminal 4 infrastructure modernization, $3 million for design and construction of Terminal 3
North 2 new apron, $68 million for design and construction of new Crossfield Taxiway U, $9 million for bus route preparation and relocation of C-Point and Access Gate,
and $5 million for West Air cargo building modifications. Additionally, the City has budgeted $367 million for contingencies.
Major projects budgeted for in fiscal year 2025-26 include $156 million for Terminal 3 North construction at Phoenix Sky Harbor, $86 million for Terminal 3 North
processor improvement, $70 million for Phoenix Sky Train replacement cars, $36 million for Terminal 3 North design and construction of new apron, and $28 million to
reconstruct a section of taxiway at Sky Harbor. Additionally, the City has budgeted $720 million for contingencies.

7

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

21-22

Phoenix Convention Center $ 84,751

22-23

23-24

24-25

$ 112,717

$ 29,306

$ 53,287

25-26 (Budget)

25-26 (YTD)

$

$

28,583

7,998

Discussion:
Major projects budgeted for in fiscal year 2021-22 included $47 million for the
purchase of 100 West Washington Street.

Phoenix Convention Center

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.

25-26 (YTD)
25-26 (Budget)
24-25

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

23-24
22-23

Major projects budgeted for in fiscal year 2024-25 included $55 million to design
and construct the second phase of building and garage renovations at 100 West
Washington Street.

21-22
$0

$50

$100

$150

Major projects budgeted for in fiscal year 2025-26 include $7 million to design and construct the second phase of building and garage renovations at 100 West
Washington Street, $5 million to operate a real time crime/operations center at 100 West Washington Street, $5 million for Symphony Hall theatrical venue
improvements, and $4 million to upgrade the Herberger Theater speaker system.

21-22

Solid Waste $ 28,986

22-23

23-24

24-25

$ 22,723

$ 15,838

$ 27,634

25-26 (Budget)

25-26 (YTD)

$

$

63,121

38,431

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

Solid Waste
25-26 (YTD)

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 has budgeted $2.5 million for contingencies.

25-26 (Budget)
24-25
23-24

Major projects budgeted for in fiscal year 2023-24 included $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 has budgeted $10
million for contingencies.

22-23
21-22
$0

$15

$30

$45

$60

$75

Major projects budgeted for in fiscal year 2024-25 included $17 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 and North Gateway Material Recovery Facilities, and $6 million for vehicle replacement. Additionally, the City has budgeted $2
million for contingencies.
Major projects budgeted for in fiscal year 2025-26 include $26 million for vehicle replacement, $20 million to excavate and line Cell 2, and ongoing maintenance at
the State Route 85 Landfill. Additionally, the City has budgeted $2 million for contingencies.

8

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

21-22

Wastewater $ 182,710

22-23

23-24

24-25

$ 147,620

$ 261,604

$475,406

25-26 (Budget)

25-26 (YTD)

$

$

369,656

28,632

Discussion:
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 for
32nd Street sanity sewer between Cortez Street and Cactus Road, and $3.0
million for sewer relocation due to Light Rail.

Wastewater
25-26 (YTD)
25-26 (Budget)
24-25

Major projects budgeted for in fiscal year 2022-23 included $20 million on growthrelated 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 for 23rd Ave Grit Basin replacement, $9 million to rehabilitate
small sewers citywide, $5 million to rehabilitate or replace PVC-lined concrete
sanitary interceptors, and $4 million for Dixileta Dobbins North gravity sewer. In
addition, the City has budgeted $165 million for contingencies.

23-24
22-23
21-22
$0

$100

$200

$300

$400

$500

Major projects budgeted for in fiscal year 2023-24 included $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. In addition, the City has budgeted $66 million for contingencies.
Major projects budgeted for in fiscal year 2024-25 included $285 million to rehabilitate equipment at Cave Creek, $61 million to replace and rehabilitate Plant 2 equipment
at 91st Ave, $12 million to rehabilitate or replace large diameter sewers, and $9 million to rehabilitate small diameter sewers Citywide. In addition, the City has budgeted
$56 million for contingencies.

Major projects budgeted for in fiscal year 2025-26 include $48 million to design and construct a new North Gateway Advanced Water Reclamation Plant, $38 million to
replace and rehabilitate Plant 1A at 91st Ave, $24 millon to rehabilitate or replace large diameter sewers, $24 million to rehabilitate equipment at Cave Creek, and $21
million to rehabilitate small diameter sewers Citywide.

21-22

Water $ 205,485

22-23

23-24

24-25

$ 152,431

$ 336,287

$ 209,053

25-26 (Budget)

25-26 (YTD)

$

$

770,317

119,830

Discussion:
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 (WTP), $12 million to repair and replace leaking water services from main to
meter, and $9 million in underground aquifer water storage.

Water
25-26 (YTD)
25-26 (Budget)
24-25
23-24
22-23
21-22
$0

$200

$400

$600

$800

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 Deer Valley Water
Treatment Plant (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
on remote facilities rehab and replacement, $11 million for 24th Street WTP
rehabilitation, and $9 million to acquire additional water resources. Additionally, the
City has budgeted $105 million for 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 24th Street, $15 million for concrete reservoir rehabilitation, $15 million for
construction improvements, and $12 million for aquifer storage recovery wells. Additionally, the City has budgeted $105 million for contingencies.
Major projects budgeted for in fiscal year 2024-25 include $55 million water service assessment replacements, $42 million for aquifer water storage, $41 million for
infrastructure construction in the northern/southern development impact fee area, $37 million to design and construct new groundwater supply wells, and $27 million for
design and construction improvements at the Val Vista Water Treatment Plant. Additionally, the City has budgeted $64 million for contingencies.
Major projects budgeted for in fiscal year 2025-26 include $60 million for Colorado River system conservation, $48 million for the design and construction of a new North
Gateway advanced water purification facility, $40 million for infrastructure construction in the southern development impact fee area, $40 million to design and construct
new groundwater supply wellls, and $38 million for water services assessment replacements.

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
$2,400,000
$2,000,000

November YTD Revenues

$1,600,000
$1,200,000
$800,000
Annual Revenues*

$400,000
$0
21-22

Fiscal Year
21-22
22-23
23-24
24-25
25-26

November
YTD
Revenues
612,425
687,979
766,960
736,225
782,089

22-23

23-24

24-25

25-26

Annual
% of Annual
Revenues* Revenues
1,508,526
40.6%
1,695,886
40.6%
1,905,441
40.3%
1,845,963
39.9%
1,936,858
40.4%

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

Year to Date Performance Status
Better than Expected
Fiscal year 2025-26 general fund operating revenues are budgeted to increase 4.9% over prior year actuals. Actual revenues
through November are 6.2% 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

240,000

143,241

137,459

280,000

131,014

126,148

119,973

Secondary

200,000

Primary

160,000
61,025

120,000
192,215

222,719

213,583

206,393

201,050

80,000
93,643

40,000
21-22

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Total
312,188
327,198
337,407
351,042
154,668
365,961

July
(1,490)
(1,541)
(1,819)
(1,652)
(1,883)
(1,806)

22-23

Aug
1,141
1,275
1,291
1,714
1,329
1,542

Sept
1,040
1,357
1,182
1,112
493
1,316

23-24

Oct
24,048
29,752
28,607
28,644
29,992
31,349

Nov
101,285
98,119
115,096
73,938
124,737
103,468

24-25

Dec
33,534
39,943
30,724
76,570
53,053

Jan
18,086
16,279
16,818
20,524
19,321

25-26

Feb
6,889
7,687
8,164
6,716
8,131

Mar
8,972
10,370
11,181
11,861
12,039

25-26 Budget

Apr
15,063
15,618
13,178
13,875
15,375

May
71,096
77,294
81,036
42,106
72,222

June
32,524
31,045
31,949
75,634
49,951

Primary Secondary
192,215
119,973
201,050
126,148
206,393
131,014
213,583
137,459
93,643
61,025
222,719
143,241

Note: Monthly budget amount for 25-26 is the average % of last 3 fiscal years of the total actual amount.

Year to Date Performance Status
Better than 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 4.2% in fiscal year 2025-26 over fiscal year 2024-25 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

21-22 Actuals
22-23 Actuals

50,000

23-24 Actuals

40,000

24-25 Actuals
25-26 Actuals

30,000

25-26 Budget
20,000
10,000
July

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Aug

July
44,048
43,479
65,562
60,143
59,918
63,712

Sept

Aug
61,805
67,368
40,693
57,344
62,668
67,889

Oct

Nov

Sept
41,516
46,739
61,764
79,085
83,526
68,455

Oct
50,734
81,273
77,291
42,062
51,674
75,105

Dec

Jan

YTD thru
November
Nov
60,971 259,074
35,837 274,696
51,239 296,549
58,899 297,533
48,955 306,741
61,834 336,995

Feb

Mar

Apr

May

June

Dec
53,633
59,276
62,777
74,602
74,784

Jan
70,197
70,667
62,496
53,127
76,637

Feb
42,535
54,420
52,116
48,011
58,887

Mar
44,740
52,376
59,547
84,517
72,063

Apr
54,758
43,371
73,586
47,949
65,634

May
72,938
85,884
50,079
55,089
78,878

June
61,286
56,272
69,733
64,286
75,170

Year to Date Performance Status
Monitor and Consider Taking Action
Local Sales Tax for fiscal year 2025-26 is budgeted to increase 15.7% over fiscal year 2024-25 actual results. Year-to-date Local Sales Tax through November is 9.0%
lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are based on an allocation of the
annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual revenue.
Through November fiscal year 2025-26 Local Sales Tax revenues increased 3.1% compared to the same period in prior year. For the fiscal year 2024-25 Local Sales
Tax for the full year decreased 0.2% over fiscal year 2023-24. Fiscal year 2023-24 increased 4.3% over 2022-23 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

21-22 Actuals
22-23 Actuals

20,000

23-24 Actuals
24-25 Actuals

15,000

25-26 Actuals
25-26 Budget

10,000
5,000
July

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Aug

July
26,539
28,422
31,080
29,285
32,165
31,072

Sept

Aug
18,124
15,064
17,702
22,327
21,714
19,727

Oct

Sept
16,285
22,937
21,440
17,301
16,344
21,005

Nov

Oct
18,259
18,918
17,613
20,802
25,152
20,367

Dec

Jan

Feb

Mar

Apr

May

June

YTD thru
November
Nov
15,097
94,304
17,357
102,698
24,288
112,123
24,429
114,144
22,765
118,140
21,870
114,041

Dec
23,860
22,501
21,627
18,732
23,365

Jan
22,364
20,469
20,707
25,409
23,965

Feb
12,163
19,205
21,264
21,453
19,961

Mar
18,738
22,501
20,978
20,536
22,296

Apr
25,105
23,090
19,620
22,610
24,363

May
15,952
15,244
24,370
23,718
21,361

June
17,415
16,105
8,815
7,376
13,394

Year to Date Performance Status
Better than Expected
State Sales Tax for fiscal year 2025-26 is budgeted to increase 3.5% over fiscal year 2024-25 actual results. Year-to-date State Sales Tax through November is 3.6% higher than
budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are based on an allocation of the annual budget.
Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual revenue.
Through November fiscal year 2025-26 State Sales Tax revenues increased 3.5% compared to the same period in prior year. For the fiscal year 2024-25 State Sales Tax for the full
year increased 1.8% over fiscal year 2023-24. Fiscal year 2023-24 increased 3.2% over 2022-23 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
21-22 Actuals

10,000

22-23 Actuals
23-24 Actuals

8,000

24-25 Actuals
6,000

25-26 Actuals
25-26 Budget

4,000
2,000
July

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Aug

Sept

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

YTD thru
November

Dec

Jan

Feb

Mar

Apr

May

June

10,453
10,826
10,796
10,953
11,038
11,818

5,328
5,739
5,974
7,401
7,977
6,713

6,363
6,274
6,936
6,103
6,441
7,052

6,970
6,676
6,283
6,630
7,190
7,294

4,862
5,183
6,005
6,881
6,721
6,298

33,976
34,698
35,994
37,968
39,367
39,175

6,537
6,555
6,781
6,563
7,261

7,285
6,684
6,760
8,250
7,959

5,828
6,276
6,343
6,520
6,857

6,418
7,297
9,364
9,098
8,837

8,075
7,252
5,355
6,681
7,515

6,061
7,241
8,631
8,724
8,420

4,515
4,590
4,595
3,950
4,848

Year to Date Performance Status
Expected
Vehicle License Tax for fiscal year 2025-26 is budgeted to increase 3.6% over fiscal year 2024-25 actual results. Year-to-date Vehicle License Tax through November is 0.5%
higher than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are based on an allocation of the annual
budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual revenue.
Through November fiscal year 2025-26 Vehicle License Tax revenues increased 3.7% compared to the same period in prior year. For the fiscal year 2024-25 Vehicle License Tax
for the full year increased 4.7% over fiscal year 2023-24. Fiscal year 2023-24 increased 4.0% over 2022-23 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

21-22 Actuals
22-23 Actuals
23-24 Actuals

400,000

24-25 Actuals
25-26 Actuals

300,000

25-26 Budget

200,000

100,000

-

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

July

Aug

Sept

Oct

July
123,174
79,979
154,502
193,909
233,988
157,060

Aug
225,569
274,628
239,106
246,776
250,264
291,488

Sept
185,901
211,185
274,616
270,399
265,506
278,039

Oct
231,638
288,507
297,125
267,445
296,357
320,512

Nov

Nov
324,875
300,162
356,376
350,378
374,435
394,872

Dec

Jan

YTD thru
November
1,091,157
1,154,461
1,321,725
1,328,907
1,420,550
1,441,970

Feb

Dec
253,979
275,549
338,770
357,779
362,139

Mar

Apr

May

June

Jan
267,406
263,160
304,747
279,351
330,378

Feb
199,258
246,172
221,491
301,330
289,341

Mar
230,537
255,008
344,024
320,224
341,178

Apr
255,574
243,521
298,429
295,809
325,125

May
320,064
419,779
347,769
302,514
412,298

June
540,197
497,001
406,208
374,745
551,971

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 2025-26 are budgeted to increase 13.9% over fiscal year 2024-25 actual results. Year-to-date Governmental Funds
revenues through November are 1.5% lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are based
on an allocation of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual revenue.

Through November fiscal year 2025-26 Governmental Funds revenues increased 6.9% compared to the same period in prior year. For the fiscal year 2024-25 Governmental Funds for
the full year decreased 0.6% over fiscal year 2023-24. Fiscal year 2023-24 increased 6.8% over 2022-23 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
21-22 Actuals
22-23 Actuals
23-24 Actuals

80,000

24-25 Actuals
25-26 Actuals
25-26 Budget

40,000

July

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Aug

July
36,735
12,023
43,541
51,297
58,560
39,471

Sept

Aug
33,945
37,402
46,444
51,258
53,160
46,467

Oct

Nov

Sept
28,302
34,042
42,615
51,046
55,029
42,882

Oct
31,904
41,419
49,373
52,592
54,627
48,182

Dec

Jan

YTD thru
November
Nov
36,031
166,917
66,192
191,078
49,349
231,322
53,828
260,021
55,125
276,501
56,459
233,461

Feb

Mar

Apr

May

June

Dec
35,025
25,237
56,177
61,736
48,976

Jan
57,391
46,228
47,603
48,819
54,986

Feb
33,583
57,291
46,427
50,696
51,676

Mar
38,417
45,866
49,078
55,059
51,792

Apr
40,080
48,930
66,870
59,570
59,222

May
46,367
46,926
55,891
64,497
58,736

June
155,860
112,245
54,137
57,971
104,511

Year to Date Performance Status
Better than Expected
Aviation Operating revenue for fiscal year 2025-26 is budgeted to increase 0.8% over fiscal year 2024-25 actual results. Year-to-date Aviation Operating revenues
through November is 18.4% higher than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts
are based on an allocation of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25
actual revenue.
Through November fiscal year 2025-26 Aviation Operating revenues increased 6.3% compared to the same period in prior year. For the fiscal year 2024-25 Aviation
Operating revenues for the full year increased 8.4% over fiscal year 2023-24. Fiscal year 2023-24 increased 5.9% over 2022-23 full year results.

16

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

Water Operating Revenues
Budget vs Actual
100,000
90,000
80,000
70,000
21-22 Actuals

60,000

22-23 Actuals

50,000

23-24 Actuals

40,000

24-25 Actuals

30,000

25-26 Actuals
25-26 Budget

20,000
10,000
July

Fiscal Year
21-22
22-23
23-24
24-25
25-26
25-26 Budget

Aug

July
58,256
60,867
79,474
69,338
79,575
91,928

Sept

Aug
42,379
49,237
60,009
69,897
77,869
76,004

Oct

Sept
47,181
53,259
59,303
65,421
72,461
77,254

Nov

Oct
39,257
44,825
53,644
61,358
63,021
68,306

Dec

Jan

Feb

Mar

Apr

May

June

YTD thru
November
Nov
41,784 228,857
40,352 248,540
49,293 301,723
53,271 319,285
46,751 339,677
63,370 376,862

Dec
37,523
33,550
37,111
62,391
58,524

Jan
28,902
28,416
34,650
40,822
45,560

Feb
28,035
26,868
50,549
36,231
48,611

Mar
31,242
30,349
34,151
37,185
45,607

Apr
40,702
35,722
40,533
52,410
58,110

May
45,193
41,526
51,853
59,570
67,982

June
51,821
52,443
65,187
68,721
81,717

Year to Date Performance Status
Monitor and Consider Taking Action
Water Operating revenues for fiscal year 2025-26 is budgeted to increase 15.7% over fiscal year 2024-25 actual results. Year-to-date Water Operating revenues
through November is 9.9% lower than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are
based on an allocation of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual
revenue. Due to the calculation, structuring, and implementation of water rate increases, it is to be expected that year-to-date Water Operating revenues may trend
below budgeted forecasts.

Through November fiscal year 2025-26 Water Operating revenues increased 6.4% compared to the same period in prior year. For the fiscal year 2024-25 Water
Operating revenues for the full year increased 9.9% over fiscal year 2023-24. Fiscal year 2023-24 increased 23.8% over 2022-23 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
40,000
35,000
30,000
25,000

21-22 Actuals

20,000

22-23 Actuals
23-24 Actuals

15,000

24-25 Actuals
25-26 Actuals

10,000

25-26 Budget
5,000
July

Aug

Sept

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

June

Fiscal Year

July

Aug

Sept

Oct

Nov

YTD thru
November

Dec

Jan

Feb

Mar

Apr

May

June

21-22
22-23
23-24
24-25
25-26
25-26 Budget

22,011
18,108
18,448
22,200
23,688
23,017

21,971
22,936
22,257
32,311
30,091
28,348

26,947
19,029
26,911
28,044
29,243
28,763

18,312
22,401
22,957
28,305
29,224
26,211

21,720
25,044
24,163
22,479
26,125
26,619

110,961
107,518
114,736
133,339
138,371
132,958

24,380
19,691
25,262
27,327
27,546

22,218
26,128
27,645
28,553
29,793

21,916
25,503
24,321
26,783
28,077

23,023
22,405
28,786
30,619
29,875

24,091
21,595
25,563
28,824
28,519

22,296
23,607
26,894
28,690
28,922

17,973
28,591
34,569
34,982
33,091

Year to Date Performance Status
Better than Expected
Wastewater Operating revenues for fiscal year 2025-26 is budgeted to decrease 0.1% over fiscal year 2024-25 actual results. Year-to-date Wastewater Operating revenues through
November is 4.1% higher than budget expectations. City of Phoenix revenue is budgeted on an annual basis. Fiscal year 2025-26 monthly budget amounts are based on an allocation
of the annual budget. Monthly budget amounts are calculated based on an allocation of fiscal year 2021-22 through fiscal year 2024-25 actual revenue.
Through November fiscal year 2025-26 Wastewater Operating revenues increased 3.8% compared to the same period in prior year. For the fiscal year 2024-25 Wastewater Operating
revenues for the full year increased 10.2% over fiscal year 2023-24. Fiscal year 2023-24 increased 11.9% over 2022-23 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 NOVEMBER 30
(dollars in thousands)
Budget
Estimate
2025-2026

Actual
Year-to-Date
2025-2026
2024-2025

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
Planning & Development
Street Transportation
Fire
Emergency Transportation Service
Hazardous Materials Inspection Fee
Other
Interest
Other Fees and Service Charges

Total Revenues

$

$

839,048
1,838

306,741 $
1,302

297,533
817

262,745
328,334
90,871
222,719
2,937
5,472

118,140
135,887
39,367
93,643
1,062
1,747

114,144
146,257
37,968
63,868
1,107
1,566

8,524
1,005
17,177
413
8,665
1,836
8,326

3,533
310
6,084
228
3,742
798
4,306

3,495
354
6,677
223
3,837
583
3,587

66,974
1,555
20,473
25,811
22,137

32,287
252
9,560
13,395
9,705

19,729
363
9,159
14,389
10,571

1,936,858

19

$

$

782,089

$

736,225

General Fund Expenditures
As of NOVEMBER 30
(dollars in thousands)
Budget
Estimate
2025-2026

Actual
Year-to-Date
2025-2026
2024-2025

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

$

2,759
7,152
12,638
98,229
5,609
3,718
35,271
3,735
8,532
30,177
4,498
32,460
1,914
246,694

$

1,142 $
2,815
5,910
45,591
2,572
1,468
13,661
1,915
2,497
15,115
2,069
11,393
2,210
108,359

1,086
2,259
5,292
48,377
2,391
1,580
13,575
1,597
2,676
15,909
2,258
18,827
2,245
118,072

Criminal Justice
Municipal Court
Public Defender
Total Criminal Justice

39,759
7,087
46,847

16,397
2,463
18,860

16,921
2,545
19,465

Public Safety
Police
Fire
Total Public Safety

799,844
521,286
1,321,130

351,835
201,788
553,623

341,826
203,886
545,712

Transportation
Street Transportation
Total Transportation

1,902
1,902

334
334

10,333
10,333

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

10,221
19,743
7,311
2,674
39,949

4,757
8,418
2,480
711
16,366

4,652
9,257
2,745
218
16,872

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

134,775
51,366
43,098
12,631
241,870

60,720
25,555
15,911
7,334
109,521

59,695
23,253
14,793
7,604
105,345

Environmental Services
Public Works
Environmental Programs
Others
Total Environmental Services

37,367
2,402
666
40,435

13,792
785
382
14,959

17,419
580
438
18,437

Capital Improvement

74,167

10,153

12,586

Vacancy Savings

(20,000)

-

-

Contingencies

200,561

-

-

832,175 $

846,823

Total Expenditures and Encumbrances

$

20

2,193,555

$

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 NOVEMBER 30
(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
2025-2026

$

839,048
1,838

Total General Funds
Special Revenue and Debt Service Funds
Neighborhood Protection
Public Safety Enhancement & Expansion
Parks and Preserves
Golf Courses
Transportation 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
WaterSystem
Water
Wastewater
Solid Waste

Total Enterprise Funds
Total Operating Revenues

$

306,741 $
1,302

297,533
817

262,745
328,334
90,871
222,719
2,937
5,472
9,529
17,177
413
8,665
1,836
8,326
89,002
25,811
22,137

118,140
135,887
39,367
93,643
1,062
1,747
3,843
6,084
228
3,742
798
4,306
42,099
13,395
9,705

114,144
146,257
37,968
63,868
1,107
1,566
3,849
6,677
223
3,837
583
3,587
29,251
14,389
10,571

1,936,858

782,089

736,226

64,717
164,115
68,470
14,070
492,611
5,075
84,032
7,814
39,466
173,276
67,217
11,504
60,071
721,864
143,241

22,494
58,613
23,513
3,059
167,360
598
52,122
2,677
9,672
68,396
23,171
1,451
8,086
136,224
61,025

20,661
56,030
23,047
4,009
156,441
1,103
39,804
3,140
11,006
66,837
28,870
1,326
14,685
125,706
40,015

2,117,541

638,462

592,682

663,361
143,488
782,974
338,782
216,352

276,501
47,096
339,677
138,371
91,516

260,021
46,061
319,285
133,339
90,681

2,144,957

893,161

849,387

6,199,357

21

Actual
Year-to-Date
2025-2026
2024-2025

$

$ 2,313,712 $ 2,178,295

Citywide Operating Expenditures
As of NOVEMBER 30
(dollars in thousands)

Source
General Government
General Funds
Other Funds
Total General Government

Actual
Year-to-Date
2025-2026
2024-2025

Budget
2025-2026

108,359 $
18,765
127,124

118,072
14,243
132,315

46,847
9,717
56,564

18,860
5,087
23,947

19,465
3,712
23,177

Public Safety
General Funds
Other Funds
Total Public Safety

1,321,130
317,242
1,638,372

553,623
128,617
682,240

545,712
136,286
681,998

Transportation
General Funds
Other Funds
Total Transportation

1,902
1,073,270
1,075,172

334
433,362
433,696

10,333
409,130
419,463

Community Development
General Funds
Other Funds
Total Community Development

39,949
396,594
436,543

16,366
123,738
140,104

16,872
120,598
137,470

Community Enrichment
General Funds
Other Funds
Total Community Enrichment

241,870
257,289
499,159

109,521
112,379
221,900

105,345
124,383
229,728

Environmental Services
General Funds
Other Funds
Total Environmental Services

40,435
981,026
1,021,461

14,959
393,063
408,022

18,437
377,473
395,910

149,538
149,538

59,528
59,528

60,016
60,016

74,167
2,258,631
2,332,798

10,153
228,572
238,725

12,586
280,166
292,752

$

Criminal Justice
General Funds
Other Funds
Total Criminal Justice

Debt Service
General Funds
Other Funds
Total Debt Service
Capital Improvement
General Funds
Other Funds
Total Capital Improvement

246,694
66,027
312,721

$

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

65,000
65,000

-

-

Vacancy Savings
General Funds
Other Funds
Total Vacancy Savings

(20,000)
(20,000)

-

-

Contingencies
General Funds
Other Funds
Total Contingencies

200,561
93,000
293,561

-

-

2,193,555
5,667,334
7,860,889

832,175
1,503,111
2,335,288 $

Total Operating
General Funds
Other Funds
Total Operating Budget

$

22

$

846,822
1,526,007
2,372,829

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
NOVEMBER 30
2025
2024

Budget
Estimate
2025-2026

Source

Actual Year-to-Date
2025-2026
2024-2025

General Funds
$

58,899,280
347,997

Local Taxes:
Sales Taxes
Privilege License Fees

49,425,720

59,247,277

Total Local Taxes

840,885,363

308,043,191

298,349,991

22,764,164
27,177,319
6,721,194

24,429,220
29,251,332
6,880,463

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

262,745,000
328,334,000
90,871,000

118,139,509
135,886,596
39,367,282

114,144,046
146,256,660
37,967,640

56,662,677

60,561,015

681,950,000

293,393,387

298,368,346

75,436,514

45,769,090

Primary Property Tax

222,719,000

93,642,958

63,867,694

48,954,453
471,267

$

$

Total State Shared Taxes

839,047,577
1,837,786

$

306,740,763
1,302,428

$

297,533,047
816,944

234,109

219,867

Licenses and Permits

2,937,000

1,062,226

1,107,369

1,543,765

1,643,062

Cable Communications

5,472,000

1,746,903

1,566,214

562,702
51,395

609,678
54,165

Municipal Court:
Fines and Forfeitures
Court Default Fee

8,524,280
1,005,000

3,533,022
310,115

3,495,402
353,734

614,097

663,843

9,529,280

3,843,137

3,849,136

1,290,164

3,336,282

17,176,735

6,084,219

6,677,233

12,931

18,474

Library Fees

413,349

228,264

222,847

1,693,467

525,523

Parks and Recreation

8,664,806

3,741,572

3,837,086

168,199

121,809

Planning and Development

1,836,000

797,911

583,188

1,025,085

762,156

Street Transportation

8,325,700

4,306,043

3,586,656

Fire:
Emergency Transportation Service
Hazardous Materials Inspection Fee
Other

66,973,996
1,555,000
20,472,580

32,286,987
252,253
9,559,639

19,729,245
362,984
9,158,943

89,001,576

42,098,879

29,251,172

Interest

25,810,778

13,395,493

14,388,550

Other Fees and Service Charges

22,136,818

9,704,793

10,570,526

1,936,858,405

782,088,976

736,226,008

5,029,234
75,460
327,665

2,759,350
68,859
476,874

5,432,359

3,305,083

2,594,865

2,492,493

692,618

775,906

196,826,570

179,441,880

Total Municipal Court
Police

Total Fire

Total General Funds

Special Revenue and Debt Service Funds
2,783,448
198,920
993,885
181,785

2,818,124
201,294
1,006,473
55,970

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

44,803,048
3,201,978
15,998,070
714,000

15,223,413
1,087,973
5,435,761
747,352

14,228,485
1,016,320
5,081,602
335,052

4,158,038

4,081,861

Total Neighborhood Protection

64,717,096

22,494,499

20,661,459

8,662,763
3,000,777
78,480

8,863,407
3,094,796
85,404

124,295,211
39,020,761
799,500

43,861,162
14,255,974
495,540

41,679,182
13,742,875
607,971

11,742,020

12,043,607

164,115,472

58,612,676

56,030,028

4,296,941

4,447,564

68,469,515

23,512,607

23,047,385

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
NOVEMBER 30
2025
2024
$

92,976
40,238
24,518
3,865

$

758,434
307,884
23,335
62,769

Budget
Estimate
2025-2026

Source
Golf Courses:
Fees
Concessions
Interest
Other

$

8,688,870
4,574,141
155,182
651,409

Actual Year-to-Date
2025-2026
2024-2025
$

1,667,923
1,074,565
148,767
167,714

$

2,266,267
1,347,047
133,533
262,501

161,597

1,152,422

Total Golf Courses

14,069,602

3,058,969

4,009,348

27,214,415
6,933,536

27,572,682
2,099,059

Transportation 2050:
Sales Taxes
Interest/Other

439,091,041
53,519,629

148,734,094
18,625,687

139,291,176
17,150,191

34,147,951

29,671,741

492,610,670

167,359,781

156,441,367

379,937

640,821

Court Awards

5,074,589

598,229

1,102,722

6,022,595

4,812,672

Planning and Development

84,032,481

52,122,287

39,804,241

294,498

488,558

Capital Construction

7,814,039

2,677,348

3,139,961

1,497,885
291,553

2,257,736
319,988

Sports Facilities:
Sales Taxes
Interest/Other

32,810,161
6,655,434

8,008,718
1,663,676

9,222,315
1,783,922

1,789,438

2,577,724

Total Sports Facilities

39,465,595

9,672,394

11,006,237

12,664,917
603,215
26,153

12,758,206
536,897
33,224

Highway User Revenue:
Highway User Revenue
Interest
Other

167,733,000
4,817,034
725,997

64,528,123
2,991,882
875,260

63,140,812
3,036,991
659,250

13,294,285

13,328,327

173,276,031

68,395,265

66,837,053

4,764,888

5,764,392

Regional Transit Revenues

67,216,586

23,171,304

28,870,496

128,030

199,407

Community Reinvestment

11,503,690

1,450,584

1,326,198

7,165,804

6,568,605

Other Restricted Fees

60,070,640

8,086,118

14,684,527

1,054,600
12,811,224
1,156,691

823,369
13,304,099
1,346,967

Grants:
Public Housing:
Rentals
Grants
Other

4,576,591
226,037,916
66,858,701

1,880,986
71,696,877
18,173,845

2,122,795
70,728,875
8,745,144

15,022,515

15,474,435

297,473,208

91,751,708

81,596,814

5,445,344
72,900
776,146
18,644,562

5,585,236
33,881,001
76,454
1,972,138

101,901,167
122,687,844
37,897,079
161,904,806

15,503,094
(15,382,106)
4,001,277
40,350,023

16,492,267
5,000,910
206,390
22,409,276

24,938,952

41,514,829

Total Other

424,390,896

44,472,288

44,108,843

39,961,467

56,989,264

Total Grants

721,864,104

136,223,996

125,705,657

49,300,577
-

28,168,444
-

143,241,188
-

61,025,345
-

39,887,669
127,189

49,300,577

28,168,444

Total G.O. Bond/Secondary Property Tax

143,241,188

61,025,345

40,014,858

177,608,066

170,935,409

Total Special Revenue and Debt Service Funds

2,117,541,298

638,461,402

592,681,537

Total Transportation 2050

Total Highway User Revenue

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

G.O. Bond/Secondary Property Tax
Secondary Property Tax
Interest

24

Citywide Operating Revenue by Source
For the Month Ended
NOVEMBER 30
2025
2024

Budget
Estimate
2025-2026

Source

Actual Year-to-Date
2025-2026
2024-2025

Enterprise Funds
AVIATION:
$

13,717,710 $
37,290,743
2,580,993
230,201
306,492
400,891
598,051

12,967,628
37,014,760
2,285,195
175,881
381,478
402,069
601,533

55,125,081

53,828,544

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

$

Total Aviation

163,182,000
459,662,910
23,104,000
2,495,121
4,287,968
4,524,947
6,104,000

$

65,572,842
190,328,166
12,848,853
1,106,232
1,570,894
1,982,938
3,091,026

$

62,170,404
177,932,829
11,941,879
1,157,379
1,658,005
1,924,266
3,236,377

663,360,946

276,500,951

260,021,139

103,474,774
35,085,952
4,927,000

29,905,183
13,936,447
3,254,637

29,661,839
13,237,132
3,162,322

143,487,726

47,096,267

46,061,293

737,687,452
2,930,000
5,862,988
14,534,030
3,900,000
15,390,971
2,668,940

321,149,581
900,778
6,228,957
5,771,052
519,180
5,825,258
(718,108)

299,842,588
1,002,546
5,093,322
5,176,872
1,537,290
5,602,812
1,029,451

782,974,381

339,676,698

319,284,881

CONVENTION CENTER:
6,176,875
3,683,386
651,219

6,430,183
3,988,773
613,145

10,511,480

11,032,101

Excise Taxes
Operating Revenue
Interest
Total Convention Center
WATER:

52,858,757
30,311
415,553
1,041,427
43,560
1,152,815
(8,791,479)

50,216,554
146,574
469,330
459,070
221,220
1,147,049
611,487

46,750,944

53,271,284

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

24,181,663
2,852,868
46,560
1,200,297
(2,155,993)

20,862,016
314
230,760
1,170,783
214,803

Sewer Service Charges
Multi-City
Development Fees
Interest
Other

260,798,134
23,948,000
3,500,000
18,434,015
32,101,729

112,590,259
11,346,024
493,980
6,174,405
7,766,442

106,532,440
9,311,187
1,486,530
6,357,832
9,650,824

26,125,395

22,478,676

Total Wastewater

338,781,878

138,371,110

133,338,813

190,329,244
16,261,420
1,641,439
8,120,098

80,422,229
6,970,075
1,035,040
3,088,611

78,166,331
6,422,217
862,904
5,229,510

216,352,201

91,515,955

90,680,962

2,144,957,132

893,160,981

849,387,088

SOLID WASTE:

$

17,571,638
1,126,869
198,977
(1,867,767)

15,641,778
1,118,854
154,417
1,022,113

17,029,717

17,937,162

155,542,617

158,547,767

529,977,253

$

508,925,056

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

$

25

6,199,356,835

$

2,313,711,359

$

2,178,294,633

Citywide Operating Expenditures by Program
For the Month Ended
NOVEMBER 30
2025
2024

Program

Budget
Estimate
2025-2026

2025-2026 Year-to-Date
Operating Expenditures & Encumbrances
Capital
Operations
and Debt

Actual Year-to-Date
2025-2026
2024-2025

General Government
$

219,733 $
541,020
1,206,294
9,513,931
108,733
346,173
333,024
2,556,865
591,139
312,494
1,679,181
265,427
15,709
379,529
3,538,883
80,631

191,350
461,290
1,766,040
11,481,869
115,117
337,366
178,547
2,787,267
371,088
346,699
1,822,671
282,881
11,276
449,302
7,541,778
430,690

21,688,766

28,575,231

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

2,758,846
7,151,548
23,257,069
109,796,996
1,759,759
5,614,052
4,355,140
36,973,608
3,735,493
8,532,577
30,362,763
969,067
134,897
4,498,346
67,125,603
5,695,505

$

1,142,047
2,814,887
7,035,215
50,894,642
1,006,339
2,574,805
1,938,620
14,272,762
1,915,438
2,497,215
15,192,098
1,385,028
71,166
2,068,866
19,925,980
2,388,765

$

1,085,678
2,259,257
7,731,509
52,884,144
968,018
2,395,377
1,795,559
14,246,223
1,596,822
2,675,884
15,985,066
1,560,585
64,498
2,258,427
26,591,070
(1,783,470)

$

1,142,047
2,814,887
7,035,215
45,949,014
1,006,339
2,574,805
1,938,620
14,272,762
1,915,438
2,497,215
15,114,905
1,385,028
71,166
2,068,866
13,013,744
2,388,765

$

4,945,628
77,194
6,912,236
-

312,721,269

127,123,874

132,314,647

115,188,816

11,935,058

49,477,122
7,087,352

21,484,184
2,463,006

20,632,462
2,544,833

18,805,401
2,463,006

2,678,783
-

56,564,474

23,947,190

23,177,295

21,268,407

2,678,783

1,030,178,897
608,193,532

443,968,347
238,272,107

435,200,443
246,797,814

442,637,683
234,579,263

1,330,663
3,692,844

1,638,372,429

682,240,454

681,998,257

677,216,946

5,023,508

Criminal Justice
3,862,766
563,681

4,624,965
554,821

4,426,448

5,179,786

Municipal Court
Public Defender
Total Criminal Justice
Public Safety

69,966,451
40,980,313

87,801,334
43,936,448

110,946,764

131,737,782

Police
Fire
Total Public Safety
Transportation

8,325,456
369,197
34,038,716
6,014,157

9,750,285
827,084
37,490,026
4,141,495

Street Transportation
Street Lighting
Aviation
Public Transit

117,397,833
14,635,967
522,924,575
420,213,399

35,099,281
4,591,030
185,199,644
208,806,279

54,106,265
6,368,888
189,379,233
169,608,722

31,132,461
4,591,030
148,613,859
208,806,279

3,966,820
36,585,784
-

48,747,527

52,208,890

Total Transportation

1,075,171,774

433,696,235

419,463,108

393,143,630

40,552,605

Community Development
6,617,660
14,402,341
1,290,343
2,731,046

6,555,915
14,159,538
1,808,402
2,655,735

Planning and Development
Housing
Economic Development
Neighborhood Services Department

102,661,363
247,257,920
22,502,562
64,121,103

38,961,004
72,479,049
13,485,749
15,178,317

39,738,725
71,293,217
11,919,008
14,518,560

38,961,004
72,479,049
11,842,453
15,178,317

1,643,296
-

25,041,390

25,179,590

Total Community Development

436,542,948

140,104,119

137,469,510

138,460,823

1,643,296

160,269,567
52,483,542
102,033,677
13,546,539
153,060,910
8,660,121
9,104,434

70,180,322
26,325,442
51,221,261
5,644,361
58,256,499
5,521,275
4,750,980

68,902,927
23,722,117
51,156,604
5,649,835
68,533,756
6,719,408
5,042,908

70,013,017
26,325,442
44,009,911
58,140,227
5,521,275
4,750,980

167,305
7,211,350
5,644,361
116,272
-

499,158,790

221,900,140

229,727,555

208,760,852

13,139,288

Community Enrichment
9,669,027
3,553,850
4,014,494
1,128,728
7,989,972
117,190
480,558

10,962,831
3,277,195
4,450,931
1,129,823
12,168,593
646,942
835,300

26,953,819

33,471,614

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
NOVEMBER 30
2025
2024

Budget
Estimate
2025-2026

Program

2025-2026 Year-to-Date
Operating Expenditures & Encumbrances
Capital
Operations
and Debt

Actual Year-to-Date
2025-2026
2024-2025

Environmental Services
$

32,736,478 $
14,493,701
13,879,321
1,472,310
344,807
120,421

32,701,830
13,397,164
13,638,750
2,411,073
538,020
123,118

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

63,047,038

62,809,955

Total Environmental Services

$

531,131,358
227,163,824
209,176,667
49,604,580
3,405,669
978,548

$

213,007,427
94,590,267
79,660,248
18,864,133
1,406,860
493,474

$

195,700,838
89,311,128
85,690,677
22,577,955
2,085,060
544,622

$

148,230,134
68,951,951
76,983,226
13,805,212
1,406,860
493,474

$

64,777,292
25,638,316
2,677,021
5,058,920
-

1,021,460,646

408,022,408

395,910,280

309,870,858

98,151,550

10,957,306
2,455,932
449,714
16,021,468
2,941,775
1,144,709
85,850
2,338,069
8,217,676
522,425
18,634,035
21,666,690
1,891,271
1,678,940
3,772,960
32,478,932
21,368,971
15,600
2,895,191

4,565,545
1,023,305
187,381
6,676,862
1,225,740
476,962
35,771
1,011,779
3,424,032
217,677
7,764,181
9,027,787
788,029
453,096
72,580
13,532,888
8,903,738
6,500
133,929

2,566,207
12,131,422
187,414
3,487,492
278,302
1,292,791
321,068
6,831,734
2,560,629
196,948
10,893,683
5,716,392
567,381
453,097
1,223,395
150,000
3,698,500
5,188,906
13,250
133,929

4,565,545
1,023,305
187,381
6,676,862
1,225,740
476,962
35,771
974,195
3,424,032
217,677
7,764,181
9,027,787
788,029
453,096
72,580
13,532,888
8,903,738
6,500
133,929

37,583
-

General Obligation Debt Service and
Loans From Direct Borrowings

$

913,109
204,661
37,476
1,335,122
245,148
95,392
7,154
204,235
684,806
43,535
1,552,836
1,805,557
157,606
90,619
14,480
2,706,578
1,780,748
1,300
26,786

603,391
2,426,284
55,471
752,848
55,660
262,138
67,648
1,366,347
519,038
39,390
2,261,927
1,186,540
189,127
90,619
1,188,835
739,700
1,091,291
2,650
26,786

11,907,149

12,925,691

Total Debt Service

149,537,514

59,527,780

60,016,318

59,490,197

37,583

46,629,137

34,608,734

Capital Improvement

2,332,797,752

238,725,393

292,752,380

238,725,393

-

-

-

Non-Departmental Grants

65,000,000

-

-

-

-

-

-

Vacancy Savings

(20,000,000)

-

-

-

-

-

-

Contingencies

293,561,222

-

-

-

-

359,388,036 $

386,697,273

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

$

7,860,888,818

$

27

2,335,287,594

$

2,372,829,349

$

2,162,125,922

$

173,161,672

Capital Expenditures and Encumbrances
2025-2026
Program
General Government
Arts and Cultural Facilities
Economic Development
Environmental Programs
Facilities Management
Fire Protection
Historic Preservation & Planning
Housing
Human Services
Information Technology
Libraries
Neighborhood Services
Non-Departmental Capital
Parks and Mountain Preserves
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
Enterprise Subtotal
Total Capital Budget Program

2024-2025
Actual Yearto-Date

Actual Yearto-Date

Budget

2025-2026 Year-to-Date Capital Amounts
From Operating Funds
From Capital Funds
Budget
Actual
Budget
Actual

Unencumbered
Budget

$

902,484 $
37,849,344
1,250,000
81,515,807
59,335,129
16,486,920
175,662,988
17,173,242
65,065,430
8,583,943
2,180,263
236,224,924
154,594,235
19,079,304
45,400,542
411,627,255
8,192,398
490,780,877

$
2,737,242
13,949,033
13,268,092
247,183
7,111,074
595,251
13,804,822
2,593,538
26,816
38,204,392
20,491,456
737,564
1,250,612
4,172,692
246,657
42,734,244

170,455
16,616,915
9,041,421
4,666,115
11,207,875
10,871,209
11,656,333
948,747
66,666
37,549,272
42,387,486
9,282,940
1,798,497
10,530,505
1,183,134
71,630,170

$

$
12,349,344
1,250,000
35,118,756
5,587,254
5,000,000
127,477,359
15,198,212
53,400,927
1,917,491
2,180,263
11,664,281
107,070,627
14,315,586
411,627,255
2,192,398
259,188,843

2,737,242
4,708,498
370,089
543
5,867,011
374,834
2,146,918
406,907
26,816
3,133,112
19,787,929
584
746,765
4,172,692
246,657
27,295,155

$

902,484 $
25,500,000
46,397,051
53,747,875
11,486,920
48,185,629
1,975,030
11,664,503
6,666,452
224,560,643
47,523,608
19,079,304
31,084,956
6,000,000
231,592,034

9,240,535
12,898,003
246,640
1,244,063
220,417
11,657,903
2,186,631
35,071,280
703,528
736,980
503,848
15,439,089

$

902,484
35,112,102
1,250,000
67,566,774
46,067,037
16,239,737
168,551,914
16,577,991
51,260,608
5,990,405
2,153,447
198,020,532
134,102,779
18,341,740
44,149,930
407,454,563
7,945,741
448,046,633

$

1,842,174,676 $

171,688,873 $

239,607,743

$

1,075,808,187 $

81,539,956

$

766,366,489 $

90,148,917

$

1,670,485,803

$

$

1,528,406,564
28,582,878
63,121,060
369,655,740
770,316,612
2,760,082,854

$

4,602,257,530

$

$

344,032,374
7,998,162
38,431,050
28,631,686
119,829,602
538,922,874

$

710,611,747

$

$

198,428,230
6,104,185
10,202,868
364,055,329
40,737,184
619,527,796

633,424,395
16,601,500
8,098,319
212,433,336
386,432,015
$ 1,256,989,565

68,105,352
7,166,388
748,550
20,955,339
60,209,809
$ 157,185,437

$

859,135,538

$ 2,332,797,752

$ 238,725,393

28

$

$

$

$

894,982,169
11,981,378
55,022,741
157,222,404
383,884,597
1,503,093,289

$

2,269,459,778

$

$

275,927,022
831,775
37,682,500
7,676,347
59,619,793
381,737,437

$

$

1,184,374,190
20,584,716
24,690,010
341,024,054
650,487,010
2,221,159,980

$

471,886,354

$

3,891,645,783

Bonds Authorized and Sold
As of NOVEMBER 30
(dollars in thousands)
Authorized

Sold

Available

2023 Authorizations

Fire, Police, Roadway and Pedestrian Infrastructure
Library, Parks, and Historic Preservation
Education, Economic Development, Reducing Waste,
Resource Management, Arts and Culture
Affordable Housing and Senior Centers

$

Total 2023 Authorizations

214,000
108,615

$

88,900
42,500

$

125,100
66,115

114,385
63,000

74,300
44,300

40,085
18,700

500,000

250,000

250,000

81,000
136,400
198,700
37,600
170,922
136,205

63,385
133,195
190,610
32,515
150,110
121,900

17,615
3,205
8,090
5,085
20,812
14,305

29,285
12,000
62,178
74,000
192,500
186,095
169,700
131,400
1,071,765

28,285
11,205
53,200
71,645
174,865
159,585
147,410
127,720
1,071,765

1,000
795
8,978
2,355
17,635
26,510
22,290
3,680
-

2,689,750

2,537,395

152,355

1988, 2001, and 2006 Authorizations

Affordable Housing and Neighborhood Revitalization
Computer Technology
Education Facilities
Environmental Cleanup
Family, Senior and Youth Cultural Facilities
Fire Protection
Freeway Mitigation, Neighborhood Stabilization and
Slum and Blight Elimination
Historic Preservation
Library Facilities
Neighborhood Protection and Senior Centers
Parks, Open Space and Recreational Facilities
Police Protection
Street Improvements
Storm Sewer Systems and Flood Protection
Bonds Fully Issued
Total 1988, 2001, and 2006 Authorizations
$

Total Bond Program

29

3,189,750

$

2,787,395

$

402,355