Annual Comprehensive Financial Report Fiscal Year Ended June 30, 2023 Maricopa County, Arizona www.maricopa.gov Board of Supervisors Jack Sellers District 1 Thomas Galvin District 2 Bill Gates District 3 Clint L. Hickman District 4 Steve Gallardo District 5 Annual Comprehensive Financial Report Maricopa County Phoenix, Arizona For the Fiscal Year July 1, 2022 to June 30, 2023 Prepared By Office of Budget and Finance Michael McGee – Chief Financial Officer INTRODUCTORY SECTION Table of Contents Listing of Maricopa County Officials Organizational Chart Letter of Transmittal Citizens Audit Advisory Committee Letter Certificate of Achievement for Excellence in Financial Reporting Table of Contents For the Fiscal Year Ended June 30, 2023 Introductory Section Table of Contents Listing of Maricopa County Officials Organizational Chart Letter of Transmittal Maricopa County Citizens Audit Advisory Committee Letter Certificate of Achievement for Excellence in Financial Reporting Page i iii iv 1 5 6 Financial Section Independent Auditors’ Report 9 Management’s Discussion and Analysis 13 Basic Financial Statements Definitions of Government-wide Financial Statements and Listing of Major Funds Government-wide Financial Statements Statement of Net Position Statement of Activities Fund Financial Statements Governmental Funds Financial Statements Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balances Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities 27 29 30 32 34 36 Proprietary Funds Financial Statements Statement of Net Position Statement of Revenues, Expenses, and Changes in Fund Net Position Statement of Cash Flows 37 38 39 Fiduciary Funds Financial Statements Statement of Fiduciary Net Position Statement of Changes in Fiduciary Net Position 40 41 Basic Financial Statements – Notes 45 Required Supplementary Information Budgetary Comparison Schedules – General Fund and Major Special Revenue Funds General Fund Coronavirus Fiscal Recovery Fund Detention Operations Fund Notes to Budgetary Comparison Schedules 103 106 107 108 Schedule of the County’s Proportionate Share of Net Pension Liability – Cost-Sharing Plans 110 Schedule of Changes in the County’s Net Pension Liability and Related Ratios – Agent Plans 112 Schedule of County Pension Contributions 116 Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) – CostSharing Plans 118 i Table of Contents (Continued) For the Fiscal Year Ended June 30, 2023 Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios – Agent Plans Page 120 Schedule of County OPEB Contributions 124 Notes to Pension/OPEB Plan Schedules 126 Modified Approach for Infrastructure Assets 128 Combining and Individual Fund Statements and Schedules Listing of Nonmajor Governmental Funds 131 Governmental Funds Combining Balance Sheet – Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds Schedules of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual Special Revenue Funds Debt Service Funds Capital Project Funds 138 156 175 262 264 Internal Service Funds Listing of Internal Service Funds Combining Statement of Net Position Combining Statement of Revenues, Expenses, and Changes in Net Position Combining Statement of Cash Flows 283 284 286 288 Fiduciary Funds Listing of Fiduciary Funds Combining Statement of Fiduciary Net Position, Custodial Funds Combining Statement of Changes in Fiduciary Net Position, Custodial Funds 293 294 295 Statistical Section Listing of Statistical Information Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Tax Revenues by Source, Governmental Funds Assessed Value and Estimated Market Value of Taxable Property Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections Ratios of Outstanding Debt by Type Legal Debt Margin Information Pledged Revenue Coverage Demographic and Economic Statistics Principal Employers Budgeted Full-time Equivalent County Employees by Function/Program Operating Indicators by Function/Program Capital Asset Statistics by Function/Program ii 299 300 301 303 304 306 307 308 309 310 311 312 313 314 315 316 317 318 Maricopa County Officials BOARD OF SUPERVISORS Jack Sellers, District 1 Thomas Galvin, District 2 Bill Gates, District 3 Clint L. Hickman, District 4 Steve Gallardo, District 5 ♦♦♦ COUNTY MANAGER Jennifer Pokorski ♦♦♦ DEPUTY COUNTY MANAGER Valerie Beckett ♦♦♦ CHIEF FINANCIAL OFFICER Michael McGee iii Organizational Chart iv December 29, 2023 301 W. Jefferson St. Phoenix, Arizona 85003 P: 602-506-3561 F: 602-506-4451 Maricopa.gov To the Honorable Board of Supervisors and Citizens of Maricopa County, Arizona: Arizona Revised Statute (A.R.S.) §41-1279.21 requires the Arizona Auditor General to conduct financial audits of the accounts and records of County governments. Pursuant to the statute, the Arizona Auditor General audited the Annual Comprehensive Financial Report (ACFR) of Maricopa County in accordance with generally accepted auditing standards for the year ended June 30, 2023. This report consists of management’s representations concerning the finances of Maricopa County. Consequently, management assumes full responsibility of the completeness and reliability of all the information presented in this report. To provide a reasonable basis for making these representations, management of Maricopa County has established a comprehensive internal control framework that is designed both to protect the government’s assets from loss, theft, or misuse and to compile sufficient reliable information for preparation of Maricopa County’s financial statements in conformity with generally accepted accounting principles (GAAP). Because the cost of internal control should not outweigh their benefits, Maricopa County’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The goal of the independent audit was to provide reasonable assurance that the financial statements of Maricopa County for the fiscal year ended June 30, 2023, are free of material misstatement. The independent audit involves obtaining audit evidence about the amounts and disclosures in the financial statements. An audit includes assessments of risk of material misstatement of the financial statements, evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall financial statement presentation. The independent auditors expressed an unmodified opinion on the Maricopa County financial statements for the fiscal year ended June 30, 2023. The auditors concluded that the financial statements were considered fairly presented in conformity with GAAP. The independent auditors’ report is presented as the first component of the financial section of this report. The independent audit of the financial statements of Maricopa County was part of a broader, federally mandated Single Audit designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. This report will be available in Maricopa County’s separately issued Single Audit Report to be issued at a future date. 1 GAAP requires management’s discussion and analysis (MD&A) immediately following the independent auditors’ report and provides a narrative introduction, overview, and analysis of the basic financial statements. This MD&A complements this letter of transmittal and should be read in conjunction with it. County Profile Maricopa County was established on February 14, 1871, and is located in the south-central portion of the State of Arizona. According to the Arizona Office of Economic Opportunity, at July 1, 2022, Maricopa County contained 61.9 percent of the State’s total population (https://www.azcommerce.com/oeo). The County occupies 9,224 square miles making it the 15th largest county in land area in the United States. Phoenix is the capital of Arizona as well as the county seat for Maricopa County. Maricopa County operates under a five member elected Board of Supervisors who appoints a County Manager. The County Manager is responsible for the general administration and overall operations of the various County departments. The County has several elected officials including the Assessor, Clerk of the Superior Court, Constables, County Attorney, Recorder, Sheriff, Superintendent of Schools, and the Treasurer. Maricopa County offers a wide variety of governmental services, including: • Community Resources: Library District, Parks and Recreation, Stadium District, and Superintendent of Schools • County Administration: Board of Supervisors, County Manager, Assessor’s Office, Clerk of the Board, Elections, Office of Budget and Finance, Internal Audit, Recorder, Office of Procurement Services, Human Resources, Enterprise Technology, Treasurer’s Office, and Facilities Management • Public Safety, Justice, and Law Enforcement: Clerk of the Superior Court, County Attorney, Trial Court, Adult Probation, Juvenile Probation, Sheriff’s Office, Public Defender, Emergency Management, Correctional Health, Planning and Development, Constables, Justice Courts, and Public Fiduciary • Public Health and Welfare Services: Public Health, Air Quality, Human Services, Animal Care and Control, Environmental Services, Medical Examiner, and Waste Resources and Recycling • Public Works: Flood Control District and Transportation Department The annual budget serves as the foundation for Maricopa County’s financial planning and control. The County is required by A.R.S. §42-17101 et. seq. to annually prepare and adopt a balanced budget. Arizona law further requires that no expenditure shall be made or liability incurred in excess of the amounts budgeted except as provided by law. Maricopa County’s annual budget is available on the internet at the following address: https://www.maricopa.gov/3668/Budget-Documents. Economic Outlook Maricopa County has a variety of industries within its boundaries with the majority comprised of high tech, financial, and service industries. Some of the major employers located in the state include Banner Health, the State of Arizona, Walmart Inc., Arizona State University, Amazon.com Inc., and various local governments (Phoenix Business Journal). Because of a favorable climate and mild weather conditions, tourism is also a large factor in the strength of the local economy. Major sporting events can be held year-round and many people come 2 to the area during the winter months. Maricopa County is the home to teams from major league professional sports, which include the Arizona Cardinals of the National Football League (NFL), Phoenix Suns of the National Basketball Association (NBA), Phoenix Mercury of the Women’s National Basketball Association (WNBA), Arizona Diamondbacks of the Major League Baseball (MLB), and the Arizona Coyotes of the National Hockey League (NHL). Maricopa County also hosts several major league baseball teams for the annual Cactus League spring training. Maricopa County is also a host to other major sporting events such as the Waste Management Phoenix Open golf tournament and Phoenix International Raceway. Cities within Maricopa County also host college bowl games such as the Fiesta Bowl. Over the next 30 years, Arizona is forecast to far outpace the nation across the major macroeconomic indicators: jobs, population, and income (www.azeconomy.org). Maricopa County’s unemployment rate is 3.7 percent as of September 2023, which remains below the State of Arizona rate of 4.3 percent but above the United States unemployment rate of 3.6 percent, respectively (https://fred.stlouisfed.org). Financial Policies and Long-Term Financial Planning Financial Planning – Maricopa County has a fiscally conservative management philosophy, which has allowed the County to be financially successful. Maricopa County prepares a five-year financial forecast, with the assistance of an economist, which is updated on a quarterly basis for several major funds, including the General Fund and Detention Operations Fund. The five-year forecast provides a conservative estimate of the County’s fiscal condition given realistic economic trends, current Board policies, and existing laws. The forecast does not incorporate anticipated policy changes, spending priorities, or proposed new revenue sources. Capital Improvement Program – Maricopa County’s Capital Improvement Program (CIP) identifies capital projects to be completed over the next five years. Because these projects typically span more than one fiscal year, the plans are updated annually to track existing projects, identify new projects, and update funding estimates and forecasts. It is the County’s philosophy and policy that new capital projects will be undertaken only if future operating revenues are reasonably estimated to be sufficient to support associated future operating costs. Operating costs associated with new facilities are budgeted by the user department in conjunction with the partnering department such as Facilities Management and Enterprise Technology. Estimated operating costs, as well as anticipated savings in lease costs and operating costs of facilities to be replaced are factored into the County’s five-year financial forecast. Debt Management – Maricopa County utilizes a modified “pay as you go” financial policy for large capital improvement projects, large technology projects, and other infrastructure. The County pays cash for many capital improvements or utilizes lease reversions or other funding sources from the General Fund to pay for large dollar projects. Cash Management – Maricopa County maintains deposits and investments in the Treasurer’s Pool and outside of the Treasurer’s Pool. The Treasurer’s Pool invests all idle monies not specifically invested for a fund or program. In addition, the Treasurer determines the fair value of those pooled investments monthly and at June 30th. Deposits and investments held outside of the Treasurer’s Investment Pool represent a small portion of the County’s total deposits and investments. It is the County’s investment policy to: collateralize all deposits by at least 102 percent of the deposits not covered by depository insurance; preserve the principal value and the interest income of an investment; hold investments to maturity, where practical, to avoid any loss on investments resulting from an early sale or retirement of an investment; and require all of the Treasurer’s securities be held by the agent or trust department and in the County’s name. Expenditure Limitation – On June 30, 1980, Arizona voters approved general propositions amending the Arizona Constitution to establish expenditure and revenue limitations for local governments. The purpose of the expenditure limitation is to control expenditures and to limit future increases in 3 spending to adjustments for inflation, deflation, and population growth of the County. The Constitution also limits the amount of revenues that may be generated from property taxes. A twopercent plus new construction annual increase is the maximum allowed by law unless special voter approval is obtained. This report will be available in Maricopa County’s separately issued Expenditure Limitation Report to be issued at a future date. Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Maricopa County for its annual comprehensive financial report for the fiscal year ended June 30, 2022. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both U.S. general accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current annual comprehensive financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. The preparation and audit of this report could not be accomplished without the efficient and dedicated services of the Office of Budget and Finance staff, the assistance of administrative personnel in the various departments, and the competent service of the Arizona Auditor General. We appreciate all of those who assisted in and contributed to the preparation of this report. We also wish to express our sincere appreciation to the Board of Supervisors for their support in planning and overseeing the financial operations of the County in a responsible and progressive manner. Respectfully submitted, Jennifer Pokorski Michael McGee Jennifer Pokorski County Manager Michael McGee Chief Financial Officer 4 5 6 FINANCIAL SECTION Independent Auditors' Report Management's Discussion and Analysis Basic Financial Statements Basic Financial Statements - Notes Required Supplementary Information  Budgetary Comparison Schedules - General Fund and Major Special Revenue Funds  Notes to Budgetary Comparison Schedules  Schedule of the County's Proportionate Share of Net Pension Liability – Cost-Sharing Plans  Schedule of Changes in the County's Net Pension Liability and Related Ratios - Agent Plans  Schedule of County Pension Contributions  Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) – Cost-Sharing Plans  Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios – Agent Plans  Schedule of County OPEB Contributions  Notes to Pension/OPEB Plan Schedules  Modified Approach for Infrastructure Assets Combining and Individual Fund Statements and Schedules  Nonmajor Governmental Funds  Internal Service Funds  Fiduciary Funds LINDSEY A. PERRY AUDITOR GENERAL ARIZONA AUDITOR GENERAL MELANIE M. CHESNEY DEPUTY AUDITOR GENERAL Independent auditors’ report Members of the Arizona State Legislature The Board of Supervisors of Maricopa County, Arizona Report on the audit of the financial statements Opinions We have audited the accompanying financial statements of the governmental activities, aggregate discretely presented component units, each major fund, and aggregate remaining fund information of Maricopa County as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements as listed in the table of contents. In our opinion, based on our audit and the reports of the other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, aggregate discretely presented component units, each major fund, and aggregate remaining fund information of the County as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with U.S. generally accepted accounting principles. We did not audit the financial statements of 3 departments and the discretely presented component units, which account for the following percentages of the assets and deferred outflows of resources, liabilities and deferred inflows of resources, revenues, and expenses or expenditures of the opinion units affected as of June 30, 2023: Opinion unit/department or component unit Government-wide statements Governmental activities: Stadium District Risk Management Employee Benefits Trust Aggregate discretely presented component units: Industrial Development Authority Housing Authority Fund statements Aggregate remaining fund information: Stadium District Risk Management Employee Benefits Trust 2910 N 44 th St., Ste. 410 • PHOENIX, AZ Assets and deferred outflows 2.48% 0.25% 1.32% Liabilities and deferred inflows  0.03% 2.35% 0.67%      Revenues Expenses/ expenditures 0.25% 1.40% 5.77% 0.50% 1.13% 6.05% 15.61% 84.39% 15.63% 84.37% 6.22% 93.78% 2.29% 97.71% 0.12% 0.31% 1.64% 0.22% 15.19% 4.32% 0.05% 0.27% 1.11% 0.04% 0.19% 1.01% 85018-7271 • (602) 553-0333 • WWW.AZAUDITOR.GOV Those statements were audited by other auditors, whose reports have been furnished to us, and our opinions, insofar as they relate to the amounts included for those departments and component units, are based solely on the other auditors’ reports. Basis for opinions We conducted our audit in accordance with U.S. generally accepted auditing standards and the standards applicable to financial audits contained in Government Auditing Standards, issued by the U.S. Comptroller General. Our responsibilities under those standards are further described in the auditors’ responsibilities for the audit of the financial statements section of our report. We are required to be independent of the County and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of matters As discussed in Note 1 to the financial statements, for the year ended June 30, 2023, the County adopted new accounting guidance, Governmental Accounting Standards Board Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements and Governmental Accounting Standards Board Statement No. 96, Subscription-Based Information Technology Arrangements. Our opinions are not modified with respect to this matter. As discussed in Note 3 to the financial statements, the County restated beginning net position of its financial statements for the year ended June 30, 2023, to correct misstatements in its previously issued financial statements. Our opinions are not modified with respect to this matter. Other matters Compliance over the use of Highway User Revenue Fund and other dedicated State transportation revenue monies In connection with our audit, nothing came to our attention that caused us to believe that the County failed to comply with the authorized transportation purposes, insofar as they relate to accounting matters, for Highway User Revenue Fund monies it received pursuant to Arizona Revised Statutes Title 28, Chapter 18, Article 2, and any other dedicated State transportation revenues it received. However, our audit was not directed primarily toward obtaining knowledge of such noncompliance. Accordingly, had we performed additional procedures, other matters may have come to our attention regarding the County’s noncompliance with the authorized transportation purposes referred to above, insofar as they relate to accounting matters. The communication related to compliance over the use of Highway User Revenue Fund and other dedicated State transportation revenue monies in the preceding paragraph is intended solely for the information and use of the members of the Arizona State Legislature, the County’s Board of Supervisors and management, and other responsible parties within the County and is not intended to be and should not be used by anyone other than these specified parties. Management’s responsibilities for the financial statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with U.S. generally accepted accounting principles, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the County’s ability to continue as a going concern for 12 months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditors’ responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we: • • • • • Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the County’s internal control. Accordingly, we express no such opinion. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the County’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the audit’s planned scope and timing, significant audit findings, and certain internal control-related matters that we identified during the audit. Required supplementary information U.S. generally accepted accounting principles require that the management’s discussion and analysis on pages 13 through 23, budgetary comparison schedules on pages 103 through 108, schedule of the County’s proportionate share of the net pension liability—cost-sharing plans on pages 110 through 111, schedule of changes in the County’s net pension and related ratios—agent plans on pages 112 through 115, schedule of County pension contributions on pages 116 through 117, schedule of the County’s proportionate share of the net OPEB liability (asset)—cost-sharing plans on pages 118 through 119, schedule of the changes in the County’s net OPEB liability (asset) and related ratios—agent plans on pages 120 through 123, schedule of the County’s OPEB contributions on pages 124 through 125, and the modified approach for infrastructure assets information on page 128 be presented to supplement the basic financial statements. Such information is management’s responsibility and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with U.S. generally accepted auditing standards, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary information Combining and individual nonmajor fund financial statements and schedules Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County’s basic financial statements. The accompanying combining and individual nonmajor fund financial statements and schedules are presented for purposes of additional analysis and are not required parts of the basic financial statements. Such information is management’s responsibility and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with U.S. generally accepted auditing standards by us and the other auditors. In our opinion, based on our audit, the procedures performed as described above, and the reports of the other auditors, the accompanying combining and individual nonmajor fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance on the other information. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other reporting required by Government Auditing Standards In accordance with Government Auditing Standards, we will issue our report on our consideration of the County’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters at a future date. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the County’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the County’s internal control over financial reporting and compliance. Lindsey A. Perry Lindsey A. Perry, CPA, CFE Auditor General December 29, 2023 Management’s Discussion and Analysis This discussion and analysis is intended to be an easily readable analysis of Maricopa County’s (County) financial activities based on currently known facts, decisions or conditions. This analysis focuses on current year activities and should be read in conjunction with the Transmittal Letter that begins on page 1 and with the County’s basic financial statements following this section. Financial Highlights • The total assets and deferred outflows of resources of the County exceeded its liabilities and deferred inflows of resources at the close of the fiscal year by $4,954.3 million (net position), an increase of 7.5 percent from the prior year restated amount. Of this amount, $4,014.9 million is invested in capital assets, $921.7 million is subject to external restrictions, and $17.7 million is unrestricted. The County’s total net position as reported in the Statement of Activities increased by $346.5 million from the prior year restated amount. The County’s primary sources of revenue are from intergovernmental, taxes, operating grants and contributions, and charges for services. Revenue Sources (in millions) Other - $93.2 (2.9%) Unrestricted Intergovernmental $1,131.1 (35.1%) Capital Grants & Contributions $25.7 (0.8%) Operating Grants & Contributions $585.1 (18.1%) Taxes - $1,055.0 (32.7%) Charges for Services - $333.7 (10.4%) • The County’s governmental funds reported combined fund balances of $2,437.8 million, a decrease in fund balance of $312.2 million from the prior fiscal year’s balance. Approximately 99.4 percent of the combined fund balances, or $2,423.6 million, is spendable and available to meet the County’s current and future needs. • Spendable fund balance for the General Fund decreased by 37.6 percent to $441.0 million; approximately 30.7 percent of total General Fund expenditures. See page 18 for a description of spendable fund balance. In accordance with Arizona Revised Statutes (A.R.S.), this entire amount is budgeted for the next fiscal year. A.R.S. §42-17151 requires that total estimated sources of revenue must equal the total estimated expenditures in the budget for the current fiscal year. In addition, A.R.S. §42-17102 stipulates that the estimated expenditures may include an amount for unanticipated contingencies or emergencies. 13 Management’s Discussion and Analysis (Continued) Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the County’s basic financial statements. The County’s basic financial statements consist of three components: 1) Government-wide financial statements, 2) Fund financial statements, and 3) Notes to the basic financial statements. Required Supplementary Information is included in addition to the basic financial statements. The Combining and Individual Fund Statements and Schedules – Nonmajor Funds begin on page 131. Government-wide Financial Statements are designed to provide readers with a broad overview of the County’s finances, in a manner similar to private-sector businesses. • The Statement of Net Position presents information on all County assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the County is improving or deteriorating. • The Statement of Activities presents information showing how net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of these government-wide financial statements distinguish functions of the County that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a portion of their costs through user fees and charges (business-type activities). The governmental activities of the County include general government; public safety; highways and streets; health, welfare and sanitation; culture and recreation; education; and interest on long-term debt. The County has no business-type activities. Component units are legally separate entities for which the County is considered to be financially accountable. Blended component units, although legally separate entities, are in substance part of the County’s operations. Therefore, data from these units is combined with data of the primary government. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize they are legally separate from the County. The Maricopa County Flood Control District, Maricopa County Library District, Maricopa County Special Assessment Districts, Maricopa County Stadium District, and the Maricopa County Street Lighting Districts are reported as blended component units. The Housing Authority of Maricopa County and Industrial Development Authority of Maricopa County are reported as discretely presented component units. The Government-wide financial statements can be found on pages 29-31 of this report. Fund Financial Statements are groupings of related accounts that are used to maintain control over resources that have been segregated for specific activities or objectives. The County, like other state and local governments, uses fund accounting to ensure and demonstrate finance-related legal compliance. All of the funds of the County can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. • Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental funds financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a county’s near-term financing requirements. Governmental funds include the general, special revenue, debt service, and capital projects funds. 14 Management’s Discussion and Analysis (Continued) Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds Balance Sheet and the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The County reports five major governmental funds. Information is presented separately in the governmental funds Balance Sheet and in the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund, Coronavirus Fiscal Recovery Fund, Detention Operations Fund, County Improvement Fund, and General Fund County Improvements Fund. Data from the other governmental funds (nonmajor) are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements, which begin on page 131 of this report. The governmental funds financial statements can be found on pages 32-26 of this report. • Proprietary funds are used to account for the County’s internal service funds. Internal service funds are an accounting device used to accumulate and allocate costs internally among the County’s various functions. The County uses internal service funds to account for its equipment services, technology infrastructure, risk management, employee benefits trust, and sheriff warehouse functions. Because these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements. The County’s internal service funds are combined into a single, aggregated presentation in the proprietary funds financial statements. Individual fund data for the internal service funds is provided in the form of combining statements, which begin on page 283 of this report. The proprietary funds financial statements can be found on pages 37-39 of this report. • Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the County’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The fiduciary funds financial statements can be found on pages 40-41 of this report. Notes to the Financial Statements provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes can be found on pages 45-99 of this report. Required Supplementary Information is presented concerning the County’s General Fund, Coronavirus Fiscal Recovery Fund, and Detention Operations Fund. A budgetary comparison schedule has been provided for these funds to demonstrate compliance with budget and additional information is provided in the Notes to Budgetary Comparison Schedules. In addition, the following schedules related to the County’s pension and OPEB plans are presented: Schedule of the County’s Proportionate Share of Net Pension Liability – Cost-Sharing Pension Plans, Schedule of Changes in the County’s Net Pension Liability and Related Ratios – Agent Plans, Schedule of County Pension Contributions, Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) – Cost-Sharing Pension Plans, Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios – Agent Pension Plans, Schedule of County OPEB Contributions and Notes to the Pension/OPEB Plan Schedules. Also presented is the Modified Approach for Infrastructure Assets. Required supplementary information can be found on pages 103-128 of this report. 15 Management’s Discussion and Analysis (Continued) Government-wide Financial Analysis Net Position Net position may serve over time as a useful indicator of a government’s financial position. The following table reflects the condensed Statement of Net Position of the County for June 30, 2023, as compared to the prior year. Statement of Net Position As of June 30 (in millions) Governmental Activities 2022 (as 2023 restated)* Current and other assets Capital assets Total assets $ 3,623.0 4,177.9 7,800.9 $ % Chg P/Y 4,102.0 4,104.8 8,206.8 (11.7)% 1.8 (4.9) Deferred outflows 614.3 413.0 48.7 Current liabilities Long-term liabilities Total liabilities 907.7 2,467.2 3,374.9 1,042.7 2,568.1 3,610.8 (12.9) (3.9) (6.5) 86.0 401.2 (78.6) 4,014.9 921.7 17.7 4,954.3 3,906.6 811.0 (109.8) 4,607.8 2.8 13.6 116.1 7.5 Deferred inflows Net position Net investment in capital assets Restricted Unrestricted Total net position $ $ * On July 1, 2022, Maricopa County restated governmental activities capital asset and receivable balances for corrections of prior periods. See Note 3 – Beginning Balances Restatement for additional information. By far, the largest portion - $4.0 billion - of the County’s net position reflects the investment in capital assets (e.g., land, buildings and improvements, machinery and equipment, infrastructure, construction in progress and intangibles), less accumulated depreciation/amortization and any related debt used to acquire those assets which is still outstanding. Net position invested in capital assets increased by $108.3 million due to an increase in net capital assets of $73.1 and a decrease in capital asset related debt of $35.2 million. The increase in capital assets is attributed to an increase in depreciable capital assets (net of accumulated depreciation/amortization) of $149.9 million offset by a decrease in non-depreciable capital assets of $76.3 million. See page 20-21 for additional detail on capital asset changes. The County uses capital assets to provide services to its citizens; consequently, these assets are not available for future spending. Although the County’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. The second component of the County’s total net position, $921.7 million, represents resources that are subject to external restrictions on how they may be used. This component increased by $110.7 million from the prior year. The increase in restricted net position is primarily attributed to debt service related to the pledged revenue obligations and health, welfare and sanitation, which increased by $250.8 and $12.1 million, respectively, offset by the decrease in public safety and general government of $118.3 and $22.4 16 Management’s Discussion and Analysis (Continued) million, respectively. The decrease in public safety can be primarily attributed to expenses and transfers out exceeding revenues and transfers in. The final component consists of an unrestricted surplus of $17.7 million, which increased from fiscal year 2022 by $127.5 million. The increase in the deficit translates to an increase in net position and is primarily the result of a decrease in deferred inflows related to pensions of 325.0 offset by an increase in the net pension and OPEB liability of 251.2. Changes in Net Position As discussed previously, the County’s total net position of $4.9 billion increased by $346.5 million as reported in the Statement of Activities. The following table reflects the condensed Statement of Activities of the County for the fiscal year 2023 compared to the prior year and indicates the changes in net position for governmental activities: Statement of Activities* For the year ended June 30 (in millions) Governmental Activities 2022 (as 2023 restated) % Chg P/Y Revenues: Program revenues: Charges for services Operating grants and contributions Capital grants and contributions $ 333.7 585.1 25.7 $ 323.3 741.9 24.5 3.2% (21.1) 4.9 General revenues: Taxes Unrestricted intergovernmental Other 1,055.0 1,131.2 93.2 1,050.1 1,065.2 (49.4) 0.5 6.2 (288.7) Total Revenues 3,223.9 3,155.6 2.2 Expenses: General government Public safety Highways and streets Health, welfare and sanitation Other** 335.5 1,377.0 186.7 879.0 99.2 282.5 1,236.8 121.4 855.4 85.2 18.8 11.3 53.8 2.8 16.4 Total Expenses 2,877.4 2,581.3 11.5 Change in net position Net position – beginning, as restated* 346.5 4,607.8 574.4 4,033.4 (39.7) 14.2 Net position – ending $ 4,954.2 $ 4,607.8 7.5 * On July 1, 2022, Maricopa County restated governmental activities capital asset and receivable balances for corrections of prior periods. See Note 3 – Beginning Balances Restatement for additional information. ** The functions of culture and recreation, education, and interest on long-term debt are shown in the condensed Statement of Activities above as other expenses. One of the main differences a reader will see between the governmental funds reported in the fund financial statements and the Statement of Activities is that governmental funds in the fund financial statements report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is reported as a capital asset and the expense of those assets is allocated over their estimated useful lives and reported as depreciation expense within the expense line items. Capital outlay expenditures exceeded depreciation/amortization expense in the current period by $203.8 million. 17 Management’s Discussion and Analysis (Continued) In the government-wide Statement of Activities, the significant revenues reported included unrestricted intergovernmental, taxes, and operating grants and contributions, which represent 34.9, 32.5, and 18.7 percent, respectively, of total revenues for fiscal year 2023. Tax revenues in total increased $4.9 million primarily as a result of an increase in jail excise tax of $21.2 million and a decrease of property taxes of $17.5 million. The decrease in property taxes can be attributed to the decrease in the property tax rate from 1.3459 to 1.2473 percent from the prior year. Intergovernmental revenue, which consists of state shared sales tax, vehicle license taxes and unrestricted grants, increased $65.9 million from the prior fiscal year. This increase is primarily attributable to increases in the state shared sales tax and vehicle license taxes of $53.4 and $12.3 million, respectively. The increases in jail excise tax, and state shared sales tax revenues are a result of a strong economy throughout the fiscal year. Capital grants and contributions increased by $1.2 million from the prior year as capital contributions attributed to public safety and culture and recreation increased by $6.4 million, offset by the decrease in highways and streets of $5.2 million. Operating grants and contributions decreased by $156.8 million from the prior fiscal year as the result of the decrease of health, welfare and sanitation revenues of $166.7 million and general government revenues of $8.5 million, offset by the increase in revenues in other governmental activities of $18.4 million. The decrease in health, welfare and sanitation was the result of opioid settlement revenues that were recognized in fiscal year 2022. Other revenues increased by $142.6 million as a result of increase in unrestricted investment earnings of $152.5 million, offset by a decrease in miscellaneous revenues of $9.9 million. Tax and other operating revenues provide the principal support for the functions of the County, which include general government; public safety; highways and streets; health, welfare, and sanitation; culture and recreation; and education. Total expenses increased by $304.3 million or 11.8 percent from the prior fiscal year, which is the result of increases in all governmental activities expenses. The largest increases in major fund expenditures were for the General Fund and Detention Operations Fund which increased by $232.5, and $44.4 million, respectively, from the prior fiscal year. Expenditures in the Pledged Revenue Fund and Pension Reserve Fund (non-major funds) increased by $254.3 and $209.2 million, respectively, from the prior fiscal year. In addition, pension expenses decreased by $242.4 million. Financial Analysis of the County’s Funds As noted earlier, the County uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. In order to provide comparative discussion of fund balances to the prior year, the analysis below of ‘spendable’ balance represents restricted, committed, assigned, and unassigned fund balance. Governmental Funds. Governmental activities are contained in the general, special revenue, debt service, and capital projects funds. The focus of the County’s governmental funds is to provide information on nearterm inflows, outflows, and balances of spendable resources. Such information is useful in assessing the County’s financing requirements. In particular, spendable fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of June 30, 2023, the governmental funds reported combined fund balances of $2,437.8 million, which was a decrease in fund balance of $312.2 million from the prior fiscal year. Approximately 99.4 percent of the combined fund balances, or $2,423.6million, is available to meet the County’s current and future needs (spendable fund balance). The remaining fund balance is reserved for inventories. The following funds are the County’s major governmental funds: General Fund The General Fund is the County’s primary operating fund. At the end of the current fiscal year, spendable fund balance of the General Fund was $441.0 million, while total fund balance was $446.5 million. This 18 Management’s Discussion and Analysis (Continued) represents a decrease in the spendable fund balance from the prior year of $265.6 million, or 37.6 percent. As a measure of the General Fund’s liquidity, it may be useful to compare both spendable fund balance and total fund balance to the total fund expenditures. Spendable fund balance represents 30.7 percent of the total fiscal year 2023 General Fund expenditures, while total fund balance represents 31.7 percent of that same amount. These ratios indicate a strong fund balance position in comparison to expenditures. In addition, Maricopa County operates on a structurally balanced budget as fiscal year 2024 operating expenditures are expected to be fully funded by fiscal year 2024 revenues. During fiscal year 2023, the General Fund experienced a decrease in fund balance of $264.7 million, a decrease of $355.0 million from the prior fiscal year positive change in fund balance of $90.3 million. Revenues increased by $87.1 million from the prior fiscal year as a result of increases in interest income due to the fair market value adjustment, state shared sales tax, state shared VLT of $58.8, $53.4, and $12.3 million, respectively, with decreases in other charges for services, property tax revenue, miscellaneous, miscellaneous sales of asset, and other miscellaneous of $12.2, $11.7, $8.1, $3.8 and $1.9 million, respectively. Transfers out increased by $314.3 million, and total expenditures increased by $232.5 million. The increase in transfers out is primarily a result of increases in transfers to the Pledged Revenue Fund (debt service fund) of $312.7 million. The increase in expenditures is primarily attributable to increases in personnel services, capital outlay, other services, and debt service of $81.2, $70.8, $42.9 and $18.4 million, respectively. Coronavirus Fiscal Recovery Fund The Coronavirus Fiscal Recovery Fund is a special revenue fund that was established during the current fiscal year and accounts for the Coronavirus State and Local Fiscal Recovery Funds authorized under Subtitle M of the American Rescue Plan Act (ARPA) of 2021 to mitigate the fiscal effects stemming from the public health emergency with respect to the Coronavirus Disease (COVID-19). At the end of the fiscal year, the fund had a deficit fund balance of ($5.7) million. In addition, the unearned revenue amount of $498.0 million represents the remaining ARPA funding not yet spent. Detention Operations Fund The Detention Operations Fund is a special revenue fund that was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The Detention Operations Fund accounts for the jail tax revenue along with transfers from the General Fund for maintenance of effort (MOE). The MOE transfer from the General Fund is used to support the jail detention operations. Arizona Revised Statutes require the County to calculate the maintenance of effort transfer on an annual basis. The Detention Operations Fund transfers monies to the Detention Capital Projects Fund for the construction of the jail and detention facilities. At the end of the current fiscal year, total fund balance of the Detention Operations Fund was $83.1 million, of which 96.9 percent is restricted and considered spendable. This was a decrease in total fund balance of $44.8 million, or 35 percent from the prior fiscal year. This is primarily attributable to the fund having more expenditures than revenues by $163.7 million, offset by positive net transfers of $116.2 million. Operating transfers consisted primarily of the transfer in for MOE from the General Fund of $201.6 million and transfers out to the Pledged Revenue Fund and Detention Capital Projects Fund of $83.0 and $4.2 million, respectively. The amounts transferred out of the Detention Operations Fund for any given year are determined through the budget planning process. 19 Management’s Discussion and Analysis (Continued) County Improvement Fund The County Improvement Fund is a capital projects fund that was established in fiscal year 2015 and accounts for capital projects funded through the issuance of long-term debt obligations and transfers from other County funds. At the end of the current fiscal year, fund balance of the County Improvement Fund was $75.2 million, a decrease of $75.1 million from prior year. The decrease was primarily the result of expenditures exceeding revenues and other financing sources. General Fund County Improvements Fund The General Fund County Improvements Fund is a capital projects fund that accounts for capital projects funded by transfers from the General Fund. Projects that are currently funded primarily consist of justice and administrative projects. At the end of the current fiscal year, fund balance of the General Fund County Improvements Fund was $753.0 million, all of which is committed and considered spendable. The fund balance in this fund increased $210.1 million from the prior fiscal year as a result of the net transfers of $218.4 million, offset by capital outlay expenditures of $8.3 million. Fiscal year 2023 transfers primarily consisted of transfers in from the General Fund of $322.0 million, which were offset by transfers out to the County Improvement Debt Fund and the General Fund of $77.3 and $26.4 million respectively. General Fund Budgetary Highlights The difference between the original budget and the final amended budget for the General Fund resulted in no significant change in revenues and expenditures. A significant favorable expenditure variance, as compared to the budget, was incurred in the Non-Departmental department (general government function) of $103.1 million. The savings were a result of the budget for Non-Departmental contingencies that were unused during the year. None of the variances between the budget and actual amounts were significant enough to affect the County’s ability to provide future services. Capital Assets and Long-Term Liabilities Capital Assets The County’s capital assets balance for its governmental activities as of June 30, 2023, was $4.2 billion (net of accumulated depreciation/amortization). Capital assets include land, buildings and improvements, infrastructure, machinery and equipment, construction in progress and intangibles. The County reports infrastructure assets, which consist of the Flood Control District and Transportation Department infrastructure, in the government-wide financial statements in accordance with GASB Statement No. 34. Additional information regarding infrastructure assets can be found in the Notes to the Financial Statements (Note 1 – Summary of Significant Accounting Policies and Note 12 – Capital Assets). The Flood Control District infrastructure assets consist of drainage systems, dams, flood channels and canals. Flood Control infrastructure is reported using the depreciation approach and the County uses the straight-line method of depreciation on these assets. At June 30, 2023, Flood Control District infrastructurerelated assets consisted of land, infrastructure (net of accumulated depreciation) and construction in progress of $235.8, $450.3, and $245.0 million, respectively. The Transportation Department infrastructure assets consist of a roadway system and a bridge system. Both systems are reported under the modified approach, which means the County will maintain the assets using an asset management system and will document that the infrastructure assets are being preserved at the established condition level. During fiscal year 2023, the condition level of both systems decreased due to new inspection protocols, but are expected to be within County expectations in subsequent fiscal years. Actual maintenance/preservation costs varied by $4.2 million and ($1.7) million from the estimated costs for the roadway and bridge system, respectively. Roadway and Bridge System maintenance is predicated by the Federal clearance process. See Required Supplementary Information on page 128 for additional information. At June 30, 2023, Transportation Department infrastructure-related assets 20 Management’s Discussion and Analysis (Continued) consisted of land, infrastructure and construction in progress of $442.4, $808.6, and $218.1 million, respectively. Capital assets for governmental activities are presented below (in millions) to illustrate changes from the prior year: Land Infrastructure Construction in progress Development in progress Intangibles Buildings and improvements (net of accumulated depreciation) Machinery and equipment (net of accumulated depreciation) Infrastructure (net of accumulated depreciation) Intangibles (net of accumulated amortization) Totals Governmental Activities 2022(as restated) 2023 * $829.9 $830.2 808.6 817.5 512.8 529.0 50.9 0.2 % Chg P/Y <(0.1)% (1.1) (3.1) (100.0) (100.0) 1,492.9 1,436.0 4.0 105.6 103.4 2.1 284.5 292.4 (2.7) 143.6 $4,177.9 45.2 $4,104.8 217.7 1.8 On July 1, 2022, Maricopa County restated governmental activities capital asset balances for corrections of prior periods. These corrections were a result of construction in progress that should have been placed in service or expensed in a prior fiscal year. See Note 3 – Beginning Balances Restatement for additional information. Capital assets, net of accumulated depreciation, increased by $73.1 million, or 1.8 percent, from the prior year. The most significant impacts on this increase in the fiscal year ended June 30, 2023, were increases in depreciable intangible and buildings and improvements (net of accumulated depreciation) of $98.4 and $56.9 million respectively. These increases were offset by a decrease in development in progress and nondepreciable construction in progress of $50.9 and $16.2 million respectively. Long-Term Liabilities Maricopa County has the following bond ratings: Debt Instrument & Rating Agency Rating Date Awarded General Obligation Bonds (implied or issuer credit rating) Standard & Poor’s AAA January 2020 Fitch Ratings AAA January 2023 Moody’s Investor Services Aaa January 2020 Certificates of Participation Standard & Poor’s AA+ January 2020 Fitch Ratings AA+ January 2023 Moody’s Investor Services Aa1 January 2020 At June 30, 2023, the County had total long-term liabilities (noncurrent liabilities due within one year and more than one year) outstanding of $2,467.2 million, which represents a $100.9 million decrease from the prior year balance of $2,568.1 million. The majority of the decrease is attributable to governmental activities and is comprised of the increase in net pension and other postemployment benefits liability and SBITAs payable of $251.2 and 48.1 million respectively, which were offset by the decrease in pledged revenue obligations, certificates of participation and financed purchases of $249.1, 138.6 and $9.3 million, respectively. The largest components of long-term liabilities at June 30, 2023, consisted of net pension and 21 Management’s Discussion and Analysis (Continued) other postemployment benefits liability of $1,878.9 million, pledged revenue obligation of $251.8 million, certificates of participation of $111.0 million, and reported and incurred but not reported claims of $90.4 million. Certificates of participation applicable to governmental activities are paid from the County Improvement Debt Fund (debt service fund), which is funded by transfers from the General Fund. At June 30, 2023, the fund balance in the County Improvement Debt Fund to pay future liabilities was $87.1 million. Pledged revenue obligations are paid from the Pledged Revenue Fund (debt service fund), which is funded by transfers from the General Fund and Detention Operations Fund. At June 30, 2023, the fund balance in the Pledge Revenue Fund to pay future liabilities was $250.8 million. Reported and incurred but not reported claims applicable to governmental activities of $90.4 million are reported in the Risk Management and Employee Benefits Trust funds (internal service funds). This is a decrease of $4.9 million from the prior year. This liability is primarily related to actuarial estimates for the County’s self-insured portion of future claims for general litigation related to torts; thefts of, damage to, and destruction of assets; errors and omissions; injuries to employees; natural disasters; and certain health benefits that are paid through the operations of the funds. Additional information regarding long-term liabilities can be found in the Notes to Financial Statements (Note 14 – Long-Term Liabilities and Note 17 – Risk Management). Net pension and other postemployment benefits (OPEB) liabilities applicable to governmental activities of $2.0 billion represent the difference between: 1) the total amount due to retirees for their future benefit obligations from employee services, less 2) the actual amount of assets on hand to make those payments. Therefore, unfunded pension and OPEB liabilities indicate that future benefit obligations to retirees are greater than the assets on hand to make those payments. These amounts are determined annually based on actuarial assumptions. Economic Factors and Next Year’s Budget and Rates • The Arizona economy continued to churn out solid gains through the first half of 2023. Jobs, wages, and sales all increased, although at a somewhat slower pace than earlier in the pandemic recovery, and the unemployment rate remained very low. (www.azeconomy.org). • The unemployment rate in Maricopa County is 3.7 percent as of September 2023, which remains below the State of Arizona unemployment rates of 4.3 percent but is above the United States rate of 3.6 percent. (https://fred.stlouisfed.org). • The Arizona Office of Economic Opportunity reports that Maricopa County’s population increased by 1.8 percent from fiscal year 2021 to 2022. Maricopa County’s population increased 16.3 percent from 2013 to 2022, which is higher than the United States’ overall population increase of 5.5 percent for the same time period (https://www.azcommerce.com/oeo and https://census.gov). As part of the annual budget planning process, the County’s Budget Office developed a financial forecast to assist in both short and long range financial planning. This forecast provides a conservative estimate of the County’s fiscal condition through the next five years. The forecast was instrumental in the determination of the fiscal year 2024 budget and tax rate, which took into account several significant trends: • Property tax revenues are the product of two factors, the assessed valuation of all properties in the County and the property tax rate. For fiscal year 2024, the adopted tax rate decreased from $1.2473 to $1.2044. • The fiscal year 2024 tax levy increased by $15.8 million from fiscal year 2023, as a result of a 3.1 billion increase in net assessed values. Yearly assessed property valuation growth rates are anticipated to increase by approximately 4.4 percent from fiscal year 2025 through 2028. 22 Management’s Discussion and Analysis (Continued) • Fiscal year 2024 annual collections of State Shared Sales Tax, Vehicle License Tax, Highway User Revenues and County Jail Excise Tax revenues are expected to increase by 3.8, 6.2, 3.4 and 5.6 percent, respectively, from the prior year. In addition, paying down the County’s unfunded pension liabilities is a top priority of the County. The fiscal year 2024 budget includes a payment of $190 million to the Maricopa County Sheriff Investigators Public Safety Retirement System Plan and the Maricopa County Detention Correction Officer Retirement Plan from the Pledged Revenue Obligations, Series 2022 proceeds. The County is targeting to achieve a funded ratio of 75% for each plan. In accordance with A.R.S., the General Fund spendable fund balance amount (see page 18 for more information) will be budgeted in the next fiscal year. A.R.S. §42-17151 requires that total estimated sources of revenue must equal the total estimated expenditures in the budget for the current fiscal year. The estimated expenditures may include an amount for unanticipated contingencies or emergencies, per A.R.S. §42-17102. Request for Information This financial report is designed to provide our citizens, taxpayers, customers, investors and creditors with a general overview of the County’s finances and to demonstrate the County’s accountability for the money it receives. If you have any questions about this report or need additional financial information, please contact Maricopa County Office of Budget and Finance, 301 W. Jefferson, 9th Floor, Phoenix, AZ 85003, or at www.maricopa.gov. 23 24 Financial Section Basic Financial Statements Basic Financial Statements Maricopa County Definitions of Government-wide Financial Statements and Listing of Major Funds Government-wide Financial Statements The Statement of Net Position presents information on all of Maricopa County’s assets and deferred outflows of resources and liabilities and deferred inflows of resources, with the difference reported as net position. The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. The above two statements are presented utilizing the following types of activities: Governmental Activities – generally are financed through taxes and intergovernmental revenues. Major Funds General Fund – is the County’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. Special Revenue Funds Coronavirus Fiscal Recovery Fund – accounts for the Coronavirus State and Local Fiscal Recovery Funds authorized under Subtitle M Section 9901 of the American Rescue Plan Act of 2021 to mitigate the fiscal effects stemming from the public health emergency with respect to the Coronavirus Disease 2019 (COVID19). Detention Operations Fund – was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. Capital Projects Funds County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2018A, Certificates of Participation, Series 2020, Certificates of Participation, Series 2022, and transfers from various County Funds. General Fund County Improvements Fund – was established to fund current and future capital projects. Fund assets may be used to pay directly for capital projects or may be appropriated by the Board of Supervisors for debt service. None of the funds has been pledged for debt service, and fund assets may be transferred by the Board of Supervisors at any time for any other County purpose. 27 28 Maricopa County Statement of Net Position June 30, 2023 PRIMARY GOVERNMENT Governmental Activities ASSETS Cash in bank and on hand Cash and investments held by County Treasurer Investments Receivables (net of allowances for uncollectibles) Due from other governmental units Inventories Prepaids Miscellaneous Cash and cash equivalents – restricted Cash and investments held by trustee – restricted Other postemployment benefits (OPEB) asset Capital assets: Land Buildings and improvements Machinery and equipment Infrastructure – not being depreciated Infrastructure – being depreciated Construction in progress Intangibles – not being amortized Intangibles – being amortized Accumulated depreciation/amortization Total assets $ 60,348,664 2,968,531,724 13,498,072 $ 21,403,555 4,751,180 11,155 4,129,577 36,060 348,538 663,457 6,592,982 36,799 2,395 23,568,203 48,436,664 829,863,678 2,290,171,070 416,898,077 808,613,515 450,270,275 512,776,458 LIABILITIES Accounts payable Accrued liabilities Employee compensation payable Interest payable Unearned revenue Contract retention payable Deposits held for other parties Noncurrent liabilities: Due within one year Due in more than one year Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions and OPEB Deferred inflows on debt refunding Deferred inflows related to leases and PPP Total deferred inflows of resources Total net position $ 155,838,436 334,588,641 16,430,726 13,515,682 1,886,294 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions and OPEB Total deferred outflows of resources NET POSITION Net investment in capital assets Restricted for: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt Service Unrestricted (deficit) COMPONENT UNITS Housing Industrial Development Authority Authority The notes to the financial statements are an integral part of this statement. 29 3,859 4,225,141 182,763,362 (1,313,612,454) 7,800,889,015 (53,961,751) 141,170,144 614,277,001 614,277,001 532,891 532,891 135,249,633 5,900,592 165,636,725 2,580,234 576,222,431 10,405,223 11,686,450 1,428,178 1,269,300 72,092 550,788 335,417 407,693,553 2,059,542,534 3,374,917,375 2,375,930 41,347,382 47,712,999 73,433,552 49,474 12,506,293 85,989,319 117,770 4,014,917,237 67,800,345 8,725,876 363,899,951 102,968,350 140,047,723 49,977,253 5,259,416 250,764,890 17,698,626 4,954,259,322 $ 6,718,485 152,487,222 6,432,361 26,208,943 8,849,960 3,954 4,076 333,912 8,857,990 117,770 5,851,416 $ 20,220,505 93,872,266 $ 17,350,953 17,350,953 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2023 Program Revenues Charges for Services Expenses Operating Capital Grants and Contributions Grants and Contributions Functions/Programs Primary government: Governmental activities: General government $ Public safety 335,518,167 $ 56,325,645 $ 31,805,253 $ 1,377,039,062 141,580,655 52,902,537 7,534,486 Highways and streets 186,637,772 51,294,614 137,429,246 18,000,676 Health, welfare and sanitation 878,967,437 61,838,713 341,780,479 Culture and recreation 68,613,208 21,468,299 2,814,326 22,630,390 8,017,533 2,877,423,569 1,210,741 18,350,211 333,718,667 585,082,052 Education Interest on long-term debt Total governmental activities Component units: Housing Authority $ 36,641,770 $ 8,389,386 Industrial Development Authority $ 859,372 $ 1,591,173 General revenues: Taxes: Property taxes, levied for general purposes Property taxes, levied for Flood Control District Property taxes, levied for Library District Property taxes, levied for Street Lighting District Sales tax – Jail construction and operation Surcharge tax – Stadium District Unrestricted share of state sales tax Unrestricted share of state vehicle license tax Grants and contributions not restricted to specific programs Unrestricted investment earnings Gain on sale of assets Miscellaneous Total general revenues Change in net position Net position, July 1, 2022, restated Net position, June 30, 2023 The notes to the financial statements are an integral part of this statement. 30 $ 24,042,312 169,377 25,704,539 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2015 Net (Expense) Revenue and Changes in Net Position Primary Government Component Units Governmental Activities $ Housing Authority Industrial Development Authority (247,387,269) (1,175,021,384) 20,086,764 (475,348,245) (44,161,206) (3,069,438) (8,017,533) (1,932,918,311) $ (4,210,072) $ 731,801 670,387,860 75,680,136 26,451,216 4,560,197 270,221,440 7,660,619 920,121,746 207,248,974 3,838,049 $ 48,239,269 7,392 44,954,623 398,378 4,911,609 5,245 2,279,364,129 5,317,379 912,960 346,445,818 4,607,813,504 1,107,307 92,764,959 1,644,761 15,706,192 4,954,259,322 $ 93,872,266 31 907,715 $ 17,350,953 Maricopa County Balance Sheet Governmental Funds June 30, 2023 General ASSETS Cash in bank and on hand Cash and investments held by County Treasurer Receivables (net of allowances for uncollectibles) Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets LIABILITIES Accounts payable Employee compensation payable Accrued liabilities Due to other funds Interest payable Bonds payable Unearned revenue Deposits held for other parties Contract retention payable Total liabilities $ 9,784 504,157,860 2,254,270 Detention Operations $ 1,984,542 56,943,170 589,218 County Improvement 53,004,488 236,856,955 21,989,067 42,996,817 173,610,302 5,470,789 2,671,145 $ $ 536,599,563 $ 506,421,914 $ 110,509,267 $ 96,332,209 $ 32,031,708 48,901,675 890,985 $ 13,997,209 183,988 8,807 $ 7,219,548 18,971,598 1,058,606 $ 9,244,892 $ 95,929,966 402,243 47,724,430 2,580,935 686,972 9,256,910 497,950,993 20,946 153,306 81,998,620 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows related to leases Deferred inflows related to public private partnerships Total deferred inflows of resources 512,140,997 2,603,494 21,105,296 27,249,752 8,145,048 164,730 FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances Coronavirus Fiscal Recovery 8,145,048 164,730 5,470,789 2,580,935 80,513,850 429,119,084 11,866,022 446,455,895 $ 536,599,563 (5,719,083) (5,719,083) $ 506,421,914 79,208,717 6,996,103 (10,977,907) 75,226,913 83,094,785 $ 110,509,267 $ 96,332,209 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in governmental activities are not financial resources and therefore, are not reported in the funds. Some receivables are not available to pay for current period expenditures and therefore, are deferred in the funds. OPEB assets are not available for County operations and therefore, not reported in the funds. Internal service funds are used by management to charge the costs of equipment services, technology infrastructure, risk management, employee benefits, and the sheriff warehouse to individual funds. The assets, deferred outflows of resources, liabilities, and deferred inflows of resources of the internal service funds are included in governmental activities in the Statement of Net Position. Long-term liabilities (e.g., net pension/OPEB liabilities and bonds payable) are not due and payable shortly after June 30, 2022, and therefore, are not reported in the funds. Deferred outflows and inflows of resources related to pensions and OPEB and deferred charges on debt refundings are applicable to future reporting. periods and, therefore, are not reported in the funds. Net position of governmental activities The notes to the financial statements are an integral part of this statement. 32 General Fund County Improvements $ Other Governmental Funds $ 753,123,079 $ 753,123,079 $ $ 38,440 $ 67,343 105,783 $ 782,059 1,200,935,856 123,479,791 113,253,909 6,133,849 1,398,362 23,568,203 1,469,552,029 65,625,804 6,674,906 2,329 33,424,590 869,482 22,690,000 78,271,438 11,665,504 7,581,080 226,805,133 Total Governmental Funds $ $ $ 55,780,873 2,847,946,886 148,714,589 42,996,817 334,588,641 14,185,573 4,756,479 23,568,203 3,472,538,061 128,157,601 74,732,167 1,960,727 42,681,500 869,482 22,690,000 576,222,431 11,686,450 10,405,223 869,405,581 1,076,464 44,829,723 98,627,085 2,438,632 10,067,661 157,039,565 9,221,512 44,994,453 98,627,085 2,438,632 10,067,661 165,349,343 753,017,296 6,133,849 895,584,660 227,015,994 753,017,296 (43,027,172) 1,085,707,331 14,185,573 1,055,307,227 987,029,393 429,119,084 (47,858,140) 2,437,783,137 753,123,079 $ $ 1,469,552,029 4,151,381,614 152,843,050 47,932,286 52,026,731 (2,427,112,102) 539,404,606 $ 4,954,259,322 33 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended June 30, 2023 General Coronavirus Fiscal Recovery 658,345,858 $ Detention Operations REVENUES Taxes $ Licenses and permits $ 270,221,440 1,333,203 Intergovernmental 1,143,895,499 Charges for services 58,119,319 152,530,075 20,900,744 4,000 Fines and forfeits 11,500,070 7,001 Special assessments Interest income 20,145,053 35,538,694 12,051,600 49,052 4,097,970 169,959 1,928,877,696 164,630,727 295,401,114 General government 197,422,564 18,627,910 Public safety 760,526,270 6,833,447 373,866,601 380,802,839 111,843,466 78,320,154 861,313 485,020 Miscellaneous Total revenues EXPENDITURES Current: Highways and streets 64,280 Health, welfare and sanitation Culture and recreation Education 2,372,664 278,824 Debt service: Principal 6,491,067 222,932 369,108 Interest 593,650 86,910,196 17,405 14,419,192 12,307 6,250,601 1,436,044,843 152,449,372 459,097,595 492,832,853 12,181,355 (163,696,481) Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 42,895,475 204,638,511 Transfers out (882,498,765) (88,479,593) Subscription-based IT arrangements (SBITA) 15,868,435 65,291,819 1,585,008 1,608,260 Total other financing sources (uses) (758,443,036) 119,352,186 Financed purchase agreements Net change in fund balances (265,610,183) 12,181,355 (44,344,295) Fund balances, July 1, 2022 711,163,155 902,923 446,455,895 (17,900,438) 127,883,907 (444,827) 83,094,785 Increase (decrease) in inventories Fund balances, June 30, 2023 $ $ The notes to the financial statements are an integral part of this statement. 34 (5,719,083) $ County Improvement $ General Fund Other Total County Improvements Governmental Funds Governmental Funds $ $ 1,313,728 $ 109,386,176 $ 1,037,953,474 53,477,097 54,810,300 458,953,657 1,756,696,959 137,495,481 216,515,544 6,623,669 18,130,740 4,560,197 4,560,197 4,550,322 18,135,713 11,054,552 58,980,658 46,812,257 5,864,050 799,686,542 3,194,460,129 8,118,844 224,169,318 403,645,841 1,544,872,159 94,823,963 94,888,243 286,456,191 857,422,650 50,798,886 52,145,219 18,824,161 21,475,649 372,138,763 379,221,870 80,980,318 8,278,420 8,731,490 210,615,047 9,354,852 407,453,774 80,980,318 8,278,420 1,454,153,186 3,591,003,734 (75,116,268) (8,278,420) (654,466,644) (396,543,605) 322,031,231 668,883,472 1,238,448,689 (103,628,361) (163,827,470) (1,238,434,189) 371,073 17,824,516 66,900,079 218,402,870 505,427,075 84,739,095 (75,116,268) 210,124,450 (149,039,569) (311,804,510) 150,343,181 542,892,846 1,235,552,111 (805,211) 1,085,707,331 2,749,934,762 (347,115) 2,437,783,137 75,226,913 $ 753,017,296 35 $ Maricopa County Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the GovernmentWide Statement of Activities Year Ended June 30, 2023 Net change in fund balances – total governmental funds (page 35) $ (311,804,510) Amounts reported for governmental activities in the Statement of Activities on page 30 are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation/amortization expense. This is the amount by which capital outlays exceeded depreciation in the current period. 203,767,051 The net effect of various miscellaneous transactions involving capital assets is a decrease to net position. (131,677,337) Revenues reported in the governmental funds exceeding amounts reported as earned on the Statement of Activities (2,230,018) The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the Statement of Activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. 313,136,230 Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds. (6,442,797) Internal service funds are used by management to charge the costs of equipment services, technology infrastructure, risk management, employee benefits, and the sheriff warehouse to individual funds. The net revenue of external activities of these funds is reported with governmental activities. 14,672,458 County pension and OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension and OPEB liability is measured a year before the County’s report date. Pension and OPEB expense, which is the change in the net liability adjusted for changes in deferred outflows and inflows of resources related to pensions, is reported in the Statement of Activities. 267,024,741 Change in net position of governmental activities (page 31) The notes to the financial statements are an integral part of this statement. 36 $ 346,445,818 Maricopa County Statement of Net Position Proprietary Funds June 30, 2023 Governmental Activities – Internal Service Funds ASSETS Current assets: Cash in bank and on hand Cash and investments held by County Treasurer Receivables: Accounts Accrued interest Inventories Prepaids Total current assets $ 4,567,791 120,584,838 6,595,530 528,317 2,245,153 10,645,497 145,167,126 Noncurrent assets: Capital assets: Buildings and improvements Machinery and equipment Intangibles Accumulated depreciation/amortization Other postemployment benefits (OPEB) Total noncurrent assets 16,280,574 48,605,660 2,945,753 (41,469,620) 504,378 26,866,745 Total assets 172,033,871 DEFERRED OUTFLOWS OF RESOURCES 2,428,523 2,428,523 Deferred outflows related to pensions and OPEB Total deferred outflows of resources LIABILITIES Current liabilities: Accounts payable Employee compensation payable Accrued liabilities Due to other funds Interest payable Leases payable (current portion) Liability for reported but unpaid and incurred but not reported claims (current portion) Total current liabilities 7,092,032 2,348,802 3,939,865 315,317 25,784 239,075 35,474,911 49,435,786 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims 54,963,111 Leases payable 2,392,424 14,605,188 71,960,723 Net pension liability Total noncurrent liabilities 121,396,509 Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions and OPEB 1,039,154 Total deferred inflows of resources 1,039,154 NET POSITION Net investment in capital assets Unrestricted 23,705,084 28,321,647 $ Total net position The notes to the financial statements are an integral part of this statement. 37 52,026,731 Maricopa County Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds Year Ended June 30, 2023 Governmental Activities – Internal Service Funds OPERATING REVENUES Charges for services $ Miscellaneous 301,079,118 997,683 302,076,801 Total operating revenues OPERATING EXPENSES Personal services 17,711,246 Supplies 16,543,445 Other services 195,295,767 Legal 2,754,122 Insurance and claims 29,994,655 Leases and rentals 89,365 Repairs and maintenance 2,043,971 Travel and transportation 146,876 Utilities 10,971,673 11,286,914 Depreciation/Amortization Total operating expenses 286,838,034 Operating income 15,238,767 NONOPERATING REVENUES (EXPENSES) Investment income 433,311 Interest expense (92,866) (892,254) Gain (loss) on disposal of assets Total nonoperating revenues (expenses) (551,809) Income before contributions and transfers 14,686,958 Capital contributions 18,396 (14,500) Transfers out Change in net position 14,690,854 Total net position, July 1, 2022 37,335,877 Total net position, June 30, 2023 $ The notes to the financial statements are an integral part of this statement. 38 52,026,731 Maricopa County Statement of Cash Flows Proprietary Funds Year Ended June 30, 2023 Governmental Activities Internal Service Funds CASH FLOWS FROM OPERATING ACTIVITIES Receipts from other funds Receipts from customers Other receipts Payments for goods and services $ 276,470,235 22,184,441 997,683 (265,910,179) Payments for personal services and benefits (19,055,666) Net cash provided by operating activities 14,686,514 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Loan repaid to from General Fund (87,895) (87,895) Net cash used for noncapital financing activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Proceeds from disposal of assets Principal paid on leases Interest paid on leases Cash transfers to other funds (1,114,043) 103,479 (259,329) (73,019) (14,500) (1,357,412) Net cash used for capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends 71,075 Net cash used for investing activities Net increase in cash and cash equivalents Cash and cash equivalents, July 1, 2022 Cash and cash equivalents, June 30, 2023 $ 13,312,282 111,840,347 125,152,629 $ 15,238,767 71,075 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES Operating income Adjustments to reconcile operating income to net cash provided by (used for) operating activities: Depreciation/Amortization expense Liability for reported and incurred but not reported claims - noncurrent Changes in assets and deferred outflows of resources [(increase)/decrease] and liabilities and deferred inflows of resources [increase/(decrease)]: Accounts receivable Inventories Prepaids Deferred outflows of resources related to pensions Accounts payable Employee compensation Pension/OPEB liabilities Other liabilities Liability for reported but unpaid and incurred but not reported claims - current Deferred inflows of resources related to pensions Net cash provided by operating activities SCHEDULE OF NONCASH INVESTING, CAPITAL AND NONCAPITAL FINANCING ACTIVITIES Capital assets disposed Accumulated depreciation on capital assets disposed Loss on capital assets disposed Capital assets transferred to governmental funds Accumulated depreciation on capital assets transferred to governmental funds Loss on disposal of capital assets transferred to governmental funds Capital assets transferred from governmental funds Accumulated depreciation on capital assets transferred from governmental funds Capital contributions on capital asset additions expensed in governmental funds The notes to the financial statements are an integral part of this statement. 39 11,286,914 (5,675,060) $ $ (2,533,204) 205,736 (4,386,188) 1,092,356 2,566,024 203,394 681,969 (1,448,872) 776,817 (3,322,139) 14,686,514 (339,981) 336,662 3,319 (2,421,771) 1,438,286 983,485 109,340 (90,944) (18,396) Maricopa County Statement of Fiduciary Net Position Fiduciary Funds June 30, 2023 Custodial External Private-Purpose Trust Funds Investment Pool Other Assets Cash and investments in bank and on hand Cash and investments held by County Treasurer $ 11,080,884 $ $ 4,653,130,763 179,646,130 20,775,007 4,673,905,770 $ 233,125,248 86,313 456,513,238 Property tax receivable for other governments Interest receivable Total assets $ 11,080,884 $ 43,655,547 Liabilities Property tax payable to other governments Total liabilities $ $ $ 29,576,004 $ $ $ 29,576,004 $ 426,937,234 426,937,234 Net Position Restricted for: Pool participants 4,673,905,770 Individuals, organizations, and other governments Total net position 11,080,884 11,080,884 $ The notes to the financial statements are an integral part of this statement. 40 $ 4,673,905,770 Maricopa County Statement of Changes in Fiduciary Net Position Fiduciary Funds Year Ended June 30, 2023 Custodial External Private-Purpose Investment Trust Funds Pool Other Additions: Contributions from pool participants $ $ 10,350,034,898 $ Property tax collections for other governments Fines, fees, and forfeitures collected for other governments 5,072,796,738 116,093,598 Investment earnings: Interest income 96,639,133 (40,643,820) Net increase (decrease) in fair value of investments 88,432 55,995,313 Net investment income 88,432 25,162,304 Other 25,162,304 Total additions 24,053,306 10,406,030,211 5,213,032,074 Deductions: Distributions to pool participants 10,264,689,161 Property tax distributions to other governments 5,086,676,909 Fines, fees, and forfeitures distributed to other governments 163,277,032 23,409,919 Other 23,209,765 23,409,919 10,264,689,161 5,273,163,706 Change in net position 1,752,385 141,341,050 (60,131,632) Net position, July 1, 2022 9,328,499 4,532,564,720 487,068,866 11,080,884 $ 4,673,905,770 Total deductions Net position, June 30, 2023 $ The notes to the financial statements are an integral part of this statement. 41 $ 426,937,234 42 Financial Section Basic Financial Statements - Notes Basic Financial Statements - Notes Maricopa County Basic Financial Statements – Notes NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 2 REPORTING CHANGES NOTE 3 BEGINNING BALANCE RESTATEMENT NOTE 4 FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS NOTE 5 RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS NOTE 6 STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY NOTE 7 DEPOSITS AND INVESTMENTS NOTE 8 CONDENSED FINANCIAL INVESTMENT POOL NOTE 9 RECEIVABLES NOTE 10 PUBLIC-PRIVATE PARTNERSHIPS NOTE 11 DUE FROM OTHER GOVERNMENTAL UNITS NOTE 12 CAPITAL ASSETS NOTE 13 CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS NOTE 14 LONG-TERM LIABILITIES NOTE 15 MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS NOTE 16 MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT NOTE 17 RISK MANAGEMENT NOTE 18 POLLUTION REMEDIATION OBLIGATIONS NOTE 19 PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS NOTE 20 INTERFUND BALANCES AND ACTIVITY NOTE 21 SUBSEQUENT EVENTS NOTE 22 DISCLOSURES FOR DISCRETELY PRESENTED COMPONENT UNITS STATEMENTS 45 OF COUNTY TREASURER’S Notes to the Financial Statements NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Maricopa County’s accounting policies conform to generally accepted accounting principles applicable to governmental units adopted by the Governmental Accounting Standards Board (GASB). For the year ended June 30, 2023, the County implemented the provisions of GASB Statement No. 96, Subscription-Based Information Technology Arrangements, which (1) defines a subscription-based information technology arrangement (SBITA); (2) establishes that a SBITA results in a right-to-use subscription asset―an intangible asset―and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. The County also implemented the provisions of GASB Statement No. 94, Public-Private and Public-Public Partnerships (PPPs) and Availability Payment Arrangements, which resulted in recognizing a receivable and deferred inflow of resources for PPPs and related note disclosures. As a result, the County’s financial statements have been modified to reflect the implementation of these new standards. A. Reporting Entity Maricopa County is a general purpose local government that a separately elected board of supervisors governs. The accompanying financial statements present the activities of the County (the primary government) and its component units. Component units are legally separate entities for which the County is considered to be financially accountable. Blended component units, although legally separate entities, are so intertwined with the County that they are in substance part of the County’s operations. Therefore, data from these units is combined with data of the primary government. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize they are legally separate from the County. Each blended and discretely presented component unit discussed below has a June 30 year-end. Unless noted below, separate financial statements are not available for the component unit. The reporting entity is comprised of the primary government, Maricopa County Flood Control District, Maricopa County Library District, Maricopa County Special Assessment Districts, Maricopa County Stadium District, Maricopa County Street Lighting Districts, Housing Authority of Maricopa County, and Industrial Development Authority of Maricopa County. The blended component units are as follows: Maricopa County Flood Control District The Maricopa County Flood Control District is a legally separate, tax-levying entity pursuant to A.R.S. §48-3602 that provides flood control facilities and regulates floodplains and drainage to prevent flooding of property in Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Flood Control District and has operational responsibility for the District, it is considered a blended component unit of the County. Maricopa County Library District The Maricopa County Library District is a legally separate, tax-levying entity pursuant to A.R.S. §483901 that provides and maintains library services for the residents of Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Library District and has operational responsibility for the District, it is considered a blended component unit of the County. 46 Notes to the Financial Statements (Continued) Maricopa County Special Assessment Districts The Maricopa County Special Assessment Districts are legally separate entities that provide improvements to various properties within the County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Special Assessment Districts and has operational responsibility over the District, they are considered a blended component unit of the County. Maricopa County Stadium District The Maricopa County Stadium District is a legally separate entity pursuant to A.R.S. §48-4202 that provides regional leadership and fiscal resources to assure the presence of Major League Baseball in Maricopa County. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Stadium District and has operational responsibility over the District, it is considered a blended component unit of the County. The Stadium District also issues separate financial statements. Complete financial statements for the Maricopa County Stadium District may be obtained at the entity’s administrative office listed below: Maricopa County Stadium District 301 West Jefferson, 10th floor Phoenix, Arizona 85003 www.maricopa.gov Maricopa County Street Lighting Districts The Maricopa County Street Lighting Districts are legally separate entities that provide street lighting in areas of the County that are not under local city jurisdictions. As the Maricopa County Board of Supervisors serves as the Board of Directors of the Street Lighting Districts and has operational responsibilities over the Districts, they are considered a blended component unit of the County. The discretely presented component units are as follows: Industrial Development Authority of Maricopa County The Industrial Development Authority of Maricopa County (Authority) is a legally separate entity that was created to assist in the financing of commercial and industrial enterprises; safe, sanitary, and affordable housing; and healthcare facilities. The Authority fulfills its function through the issuance of tax exempt or taxable revenue bonds. The County Board of Supervisors appoints the Authority’s Board of Directors. The Authority’s operations are completely separate from the County and the County is not financially accountable for the Authority. All bonds issued by the Authority are special, limited obligations of the Authority, payable solely from revenues generated by the project being financed, and do not constitute debt of, a loan of, or credit by, the Authority. The Authority charges administration fees to bond applicants and uses such fees to cover its administration costs and to support its ongoing community and economic development in Arizona. The Authority is a special-purpose governmental entity engaged in business-type activities. Although the Authority is legally separate from the County, governmental accounting standards require the Authority to be reported as a discretely presented component unit of the County for financial reporting purposes as the County Board of Supervisors is able to impose its will on the Authority. Complete financial statements for the Industrial Development Authority of Maricopa County may be obtained at the entity’s administrative office listed below: Industrial Development Authority of Maricopa County 301 W. Jefferson, 10th Floor Phoenix, Arizona 85003 www.mcida.com 47 Notes to the Financial Statements (Continued) Housing Authority of Maricopa County The Housing Authority is a legally separate entity pursuant to A.R.S. §36-1404 that provides efficient and affordable rental housing to low-income households of Maricopa County. The Housing Authority’s Board of Commissioners are appointed by the County Board of Supervisors and can be removed at any time which allows the County to impose its will on the Housing Authority. As the governing bodies of the County and Housing Authority are not substantively the same, the Housing Authority is reported as a discretely presented component unit. The Housing Authority issues separate financial statements, which include eight discretely presented component units: Coffelt-Lamoreaux, L.L.C., Madison Heights Phase I, L.L.C., and Madison Heights Phase II, L.L.C. The River at Eastline, L.L.C., Coffelt Tenant, L.L.C., and Heritage at Surprise, L.L.C., GEM Heritage, L.L.C., and Norton C, L.L.C. These component units have a December 31 year end and are combined and reported with the Housing Authority on Maricopa County’s financial statements. Complete financial statements for the Housing Authority of Maricopa County and their component units may be obtained at the entity’s administrative office listed below: Housing Authority of Maricopa County 8910 N. 78th Avenue, Building D Peoria, Arizona 85345 www.maricopahousing.org B. Basis of Presentation The basic financial statements include both government-wide statements and fund financial statements. The government-wide statements focus on the County as a whole, while the fund financial statements focus on major funds. Each presentation provides valuable information that can be analyzed and compared between years and between governments to enhance the information’s usefulness. Government-wide financial statements – provide information about the primary government (the County) and its component units. The statements include a statement of net position and a statement of activities. These statements report the overall government’s financial activities, except for fiduciary activities. They also distinguish between the County’s governmental and business-type activities and between the County and its discretely presented component units. Governmental activities generally are financed through taxes and intergovernmental revenues. Business-type activities are financed in whole or in part by fees charged to external parties. The statement of activities presents a comparison between direct expenses and program revenues for each function of the County’s governmental activities and segment of its business-type activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. The County does not allocate indirect expenses to programs or functions. Program revenues include: • Charges to customers or applicants for goods, services, or privileges provided. • Operating grants and contributions. • Capital grants and contributions, including special assessments. Revenues that are not classified as program revenues, including internally dedicated resources, unrestricted grant revenues, and all taxes the County levies or imposes, are reported as general revenues. Generally, the effect of interfund activity has been eliminated from the government-wide financial statements to minimize the double counting of internal activities. However, charges for interfund 48 Notes to the Financial Statements (Continued) services provided and used are not eliminated if doing so would distort the direct costs and program revenues reported by the departments concerned. Fund financial statements – provide information about the County’s funds, including fiduciary funds and blended component units. Separate statements are presented for the governmental, proprietary, and fiduciary fund categories. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds. Internal service and fiduciary funds are aggregated and reported by fund type. Proprietary fund revenues and expenses are classified as either operating or nonoperating. Operating revenues and expenses generally result from transactions associated with the fund’s principal activity. Accordingly, revenues, such as user charges and insurance premiums, in which each party receives and gives up essentially equal values, are reported as operating revenues. Other revenues, such as subsidies, result from transactions in which the parties do not exchange equal values and are considered nonoperating revenues along with investment earnings and revenues ancillary activities generate. Operating expenses include the cost of services, administrative expenses, and depreciation/amortization on capital assets. Other expenses, such as interest expense, are considered nonoperating expenses. The County reports the following major governmental funds: The General Fund – is the County’s primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The Coronavirus Fiscal Recovery Fund – accounts for the Coronavirus State and Local Fiscal Recovery Funds authorized under Subtitle M of the American Rescue Plan Act of 2021 to mitigate the fiscal effects stemming from the public health emergency with respect to the Coronavirus Disease (COVID19). The Detention Operations Fund – was established under the authority of propositions 400 and 401, which were passed in the General Election of November 3, 1998. These propositions authorized a temporary 1/5 of one-cent sales tax to be used for the construction and operation of adult and juvenile detention facilities. On November 5, 2002, the voters approved the extension of the 1/5 of one-cent sales tax in the General Election to be used for jail facility operations. The extension begins in the month following the expiration of the original tax and may continue for not more than twenty years after the date the tax collection begins. The Detention Operations Fund accounts for the receipt of tax revenue, jail operations expenditures, and transfers to the Detention Capital Projects Fund and Detention Technology Capital Improvement Fund for construction of the adult and juvenile detention facilities and detention technology infrastructure. The County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2018A, Certificates of Participation, Series 2020, Certificates of Participation, Series 2022, and transfers from various County funds. The General Fund County Improvements Fund – was established to fund current and future capital projects. Fund assets may be used to pay directly for capital projects or may be appropriated by the Board of Supervisors for debt service. Revenues in this fund consist mainly of transfers from the General Fund. None of the funds have been pledged for debt service, and fund assets may be transferred by the Board of Supervisors at any time for any other County purpose. The County also reports the following fund types: 49 Notes to the Financial Statements (Continued) The internal service funds – account for automotive maintenance and service, information technology services, insurance services, self-insured employee benefits, and warehouse services provided to County departments or to other governments on a cost-reimbursement basis. The fiduciary funds - consists of private-purpose trust funds, which account for assets the County’s Public Fiduciary holds in trust for the benefit of various parties; and custodial funds, which account for other fiduciary activities, including the pooled assets the County Treasurer holds and invests on behalf of other governmental entities that are not held in trust and the County Treasurer’s receipt and distribution of taxes for other governmental entities. C. Basis of Accounting The government-wide, proprietary funds, and fiduciary funds financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned, and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place. Property taxes are recognized as revenue in the year for which they are levied. Grants and donations are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Under the terms of grant agreements, the County funds certain programs by a combination of grants and general revenues. Therefore, when program expenses are incurred, there are both restricted and unrestricted net position resources available to finance the program. For these types of programs, the County applies grant resources to such programs before using general revenues. For all other programs, the County uses unrestricted revenues first. Governmental funds in the fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when they become both measurable and available. The County considers all revenues reported in the governmental funds to be available if the revenues are collected within 60 days after year-end. The County’s major revenue sources that are susceptible to accrual are property taxes, intergovernmental, charges for services, and investment income. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, landfill closure and postclosure care costs, pollution remediation obligations, claims and judgments, compensated absences and asset retirement obligations, which are recognized as expenditures to the extent they are due and payable. General capital asset acquisitions are reported as expenditures in governmental funds. Issuances of general long-term debt and acquisitions under lease contracts and subscription-based information technology arrangements are reported as other financing sources. D. Cash and Investments For the statement of cash flows, the County’s cash and cash equivalents are considered to be cash on hand, demand deposits, cash and investments held by the County Treasurer, and only those highly liquid investments with a maturity of three months or less when purchased. School and fire district bonds that mature within 90 days of year-end are reported at amortized cost. All other investments are stated at fair value. E. Inventories Inventories reported on the government-wide and the internal service funds financial statements are recorded as assets when purchased and expensed when consumed. The amounts shown on the statement of net position for government-wide and the internal service funds are valued at cost using first-in, first-out and the moving average methods, respectively. 50 Notes to the Financial Statements (Continued) The County accounts for its inventories in the governmental funds using the purchase method. Inventories of the governmental funds consist of expendable supplies held for consumption and are recorded as expenditures at the time of purchase. Amounts on hand at year-end are shown on the balance sheet as an asset for informational purposes only and as nonspendable fund balance to indicate that they do not constitute “available spendable resources.” These inventories are stated at weighted-average cost. F. Property Tax Calendar The County levies real property taxes and commercial personal property taxes on or before the third Monday in August that become due and payable in two equal installments. The first installment is due on the first day of October and becomes delinquent after the first business day of November. The second installment is due on the first day of March of the next year and becomes delinquent after the first business day of May. During the year, the County also levies mobile home personal property taxes that are due the second Monday of the month following receipt of the tax notice and become delinquent 30 days later. A lien assessed against real and personal property attaches on the first day of January preceding assessment and levy. G. Capital Assets Capital assets, which include property, plant, equipment, infrastructure, and intangible right-to-use assets, are reported in the government-wide statements and the proprietary funds. The capitalization threshold for property, plant, equipment, and infrastructure is $5,000. The capitalization thresholds for intangible right-to-use lease assets and subscription assets are $500,000 and $1,000,000, respectively. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets’ lives are not capitalized. Property, plant, and equipment are depreciated using the straight-line method over the following estimated useful lives: Type of Assets Buildings and improvements Infrastructure Autos and trucks Other equipment Estimated Useful Life (In Years) 20 - 50 25 - 50 3 - 10 3 - 20 All infrastructure assets are reported on the government-wide financial statements. Infrastructure maintained by the County Department of Transportation consists of roadways, bridges and related assets. These assets are not depreciated as they are reported using the modified approach. Under the modified approach, the County’s roadway and bridge systems are being preserved at a specified condition level established by the County. For information on the modified approach, see Required Supplementary Information – Modified Approach for Infrastructure Assets. The Flood Control District accounts for the County’s remaining infrastructure assets consisting of drainage systems, dams, flood channels and canals. Intangible right-to-use lease assets are amortized over the shorter of the lease term or the useful life of the underlying asset, unless the lease contains a purchase option that the County is reasonably certain of being exercised—then the lease asset is amortized over the useful life of the underlying asset. 51 Notes to the Financial Statements (Continued) Intangible right-to-use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying IT assets. H. Postemployment Benefits For purposes of measuring the net pension and other postemployment benefits (OPEB) assets and liabilities, deferred outflows of resources and deferred inflows of resources related to pensions and OPEB, and pension and OPEB expense, information about the plans’ fiduciary net position and additions to/deductions from the plans’ fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. I. Fund Balance Classifications The governmental funds’ fund balances are reported separately within classifications based on a hierarchy of the constraints placed on those resources’ use. The classifications are based on the relative strength of the constraints that control how the specific amounts can be spent. The classifications are nonspendable, restricted, and unrestricted, which includes committed, assigned, and unassigned fund balance classifications. The nonspendable fund balance classification includes amounts that cannot be spent because they are either not in spendable form, such as inventories, or are legally or contractually required to be maintained intact. Restricted fund balances are those that have externally imposed restrictions on their usage by creditors (such as through debt covenants), grantors, contributors, or laws and regulations. The unrestricted fund balance category is composed of committed, assigned, and unassigned resources. Committed fund balances are self-imposed limitations the County’s Board of Supervisors approved, which is the highest level of decision-making authority within the County. Only the Board can remove or change the constraints placed on committed fund balances through formal Board action. Assigned fund balances are resources constrained by the County’s intent to be used for specific purposes, but that are neither restricted nor committed. Only the Board of Supervisors has authorization to assign fund balances. The unassigned fund balance is the residual classification for the General Fund and includes all spendable amounts not reported in the other classifications. Also, deficits in fund balances of the other governmental funds are reported as unassigned. The County’s policy is to account for most restricted and committed revenue sources (subject to legal restriction, etc.) by segregating them in a separate fund; however, by its nature, the General Fund may have several different classifications of fund balance. Therefore, when expending General Fund balance, if an expenditure is incurred that can be paid from either restricted or unrestricted fund balances, it is the County’s policy to use unrestricted fund balance first. For the disbursement of unrestricted fund balances, it is the County’s policy to use unassigned amounts first, followed by assigned amounts, and lastly committed amounts. J. Investment Earnings Investment earnings are composed of interest, dividends, and net changes in the fair value of applicable investments. 52 Notes to the Financial Statements (Continued) K. Compensated Absences Compensated absences payable consist of vacation leave and a calculated amount of sick leave employees earned based on services already rendered. Employees may accumulate, and roll-over from year-to-year, up to 240 or 320 hours (depending on employee classification) of vacation leave, but any vacation hours in excess of the maximum amount that are unused at calendar year-end convert to sick leave. Upon terminating employment, all unused vacation benefits are paid to employees. Accordingly, vacation benefits are accrued as a liability in the financial statements. Employees may accumulate an unlimited number of sick leave hours. Generally, sick leave benefits provide for ordinary sick pay and are cumulative but employees forfeit them upon terminating employment. Because sick leave benefits do not vest with employees, a liability for sick leave benefits is not accrued in the financial statements. However, upon retirement, County employees with accumulated sick leave in excess of 1,000 hours are entitled to a $10,000 nontaxable investment in a Post-Employment Health Plan (PEHP) established pursuant to Internal Revenue Code §501(c)(9). The obligations vested at June 30, 2023, under this policy are accrued as a liability. Compensated absences are substantially paid within one year from fiscal year-end and, therefore, are reported as a current liability on the government-wide financial statements. A liability for these amounts is reported in the governmental funds’ financial statements only if they have matured, for example, because of employee resignations and retirements by fiscal year-end. L. Leases and subscription-based information technology agreements Leases As lessee, the County recognizes lease liabilities with an initial, individual value of $500,000 or more. The County uses its estimated incremental borrowing rate to measure lease liabilities unless it can readily determine the interest rate implicit in the lease. The County’s estimated incremental borrowing rate is based on Municipal Market Data (MMD) AAA Curve yield rate index. As lessor, the County recognizes lease receivables with an initial, individual value of $100,000 or more. If there is no stated rate in the lease contract (or if the stated rate is not the rate the County charges the lessee) and the implicit rate cannot be determined, the County uses its own estimated incremental borrowing rate as the discount rate to measure lease receivables. The County's estimated incremental borrowing rate is calculated as described above. Subscription-based information technology arrangements The County recognizes subscription liabilities with an initial, individual value of $1,000,000 or more. The County uses its estimated incremental borrowing rate to measure subscription liabilities unless it can readily determine the interest rate implicit in the arrangement. The County’s estimated incremental borrowing rate is calculated as described above. M. Other Disclosures Pursuant to A.R.S.§35-391, the County must disclose in its annual financial report the amount of any rewards, discounts, incentives or other financial consideration resulting from credit card payments. The County earned $570 thousand in credit card rebates during calendar year 2022. 53 Notes to the Financial Statements (Continued) NOTE 2 – REPORTING CHANGES Beginning in fiscal year 2023, the County established the following funds: Opioid Abatement Fund (nonmajor special revenue fund) and Pledged Revenue Debt Fund (nonmajor debt service fund). NOTE 3 – BEGINNING BALANCE RESTATEMENT On July 1, 2022, Maricopa County restated governmental activities buildings and improvements, net of accumulated depreciation, infrastructure-depreciable, net of accumulated depreciation, construction in progress, and net position for corrections of prior periods. These corrections were a result of construction in progress that should have been placed in service or expensed in a prior fiscal year. On July 1, 2022, Maricopa County restated net position for a prior period correction. This correction was the result of a receivable and revenues related to opioid settlements that should have been recognized in the prior fiscal year. See Note 9 – Receivables for additional information. Beginning net position was adjusted for the above as follows: Net position reported as of June 30, 2022 Plus: Building and improvements corrections Minus: Accumulated depreciation – buildings Plus: Infrastructure - depreciable Minus: Accumulated depreciation - infrastructure Minus: Construction in progress Plus: Settlement revenues Total adjustments to net position Net position as of July 1, 2022, as restated 54 Governmental Activities $ 4,545,035,152 19,627,126 (511,829) 7,952,035 (66,267) (74,067,863) 109,845,150 62,778,352 $ 4,607,813,504 Notes to the Financial Statements (Continued) NOTE 4 – FUND BALANCE CLASSIFICATIONS OF THE GOVERNMENTAL FUNDS The fund balance classifications of the governmental funds as of June 30, 2023, were as follows: Coronavirus Fiscal Recovery General Fund County Improvement Fund Detention Operations Fund Fund balances: Nonspendable: Inventory Total nonspendable $ 5,470,789 5,470,789 $ $ Restricted for: Capital projects Debt service Education Flood control Health and welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Pension obligation Social services Stadium district Transportation Waste management Total restricted 2,580,935 2,580,935 77,412,746 80,513,850 1,795,971 80,513,850 79,208,717 Committed to: Capital projects Debt service Health and welfare Other purposes Total committed 6,996,103 6,996,103 Assigned to: General government Total assigned 429,119,084 429,119,084 Unassigned 11,866,022 (5,719,083) $ 446,455,895 $ (5,719,083) Total fund balances $ 55 (10,977,907) $ 83,094,785 $ 75,226,913 Notes to the Financial Statements (Continued) Fund balances: Nonspendable: Inventory Total nonspendable General Fund County Improvements Fund $ Other Governmental Funds $ Restricted for: Capital projects Debt service Education Flood control Health and welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Pension obligation Social services Stadium district Transportation Waste management Total restricted Committed to: Capital projects Debt service Health and welfare Other purposes Total committed 753,017,296 753,017,296 6,133,849 6,133,849 Total $ 250,764,890 5,259,416 119,079,792 32,832,455 40,566,607 96,883,404 35,917,123 6,497,944 6,804,651 187,489,311 239,948 7,049,487 102,215,070 3,984,562 895,584,660 77,412,746 250,764,890 5,259,416 119,079,792 32,832,455 40,566,607 179,193,225 35,917,123 6,497,944 6,804,651 187,489,311 239,948 7,049,487 102,215,070 3,984,562 1,055,307,227 81,842,712 87,057,460 17,412,630 40,703,192 227,015,994 841,856,111 87,057,460 17,412,630 40,703,192 987,029,393 Assigned to: General government Total assigned 429,119,084 429,119,084 (43,027,172) Unassigned Total fund balances 14,185,573 14,185,573 $ 753,017,296 $ 1,085,707,331 56 (47,858,140) $ 2,437,783,137 Notes to the Financial Statements (Continued) NOTE 5 – RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS The Governmental Funds Balance Sheet includes the reconciliation between fund balances – total governmental funds and net position – Governmental Activities as reported in the government-wide Statement of Net Position. The details of this reconciliation follow: Fund balances – total governmental funds $ Capital assets used in governmental activities are not financial resources and therefore, are not reported in the funds. Land Buildings and improvements Machinery and equipment Infrastructure Construction in progress Intangibles Accumulated depreciation/amortization Net governmental funds capital assets at June 30, 2023 2,437,783,137 829,863,678 2,273,890,496 368,292,417 1,258,883,790 512,776,458 179,817,609 (1,272,142,834) 4,151,381,614 Some receivables are not available to pay for current period expenditures and therefore, are reported as unavailable revenue in funds. Unavailable revenue for property taxes receivable at June 30, 2023 Unavailable revenue for grant revenues receivable at June 30, 2023 Unavailable revenue for settlement revenues receivable at June 30, 2023 Unavailable revenue for other revenues receivable at June 30, 2023 9,221,512 44,829,723 98,627,085 164,730 152,843,050 OPEB assets are not available for County operations and therefore, are not reported in the funds. 47,932,286 Internal service funds are used by management to charge the costs of equipment services, technology infrastructure, risk management, employee benefits, and the sheriff warehouse to individual funds. The assets, deferred outflows of resources, liabilities, and deferred inflows of resources of the internal service funds are included in governmental activities in the Statement of Net Position. 52,026,731 Some long-term liabilities and compensated absences are not due and payable shortly after June 30, 2023, and therefore, are not reported in the funds. Certificates of participation payable at June 30, 2023 Pledged revenue obligations payable at June 30, 2023 COP premium unamortized at June 30, 2023 Financed purchases payable at June 30, 2023 Governmental funds compensated absences payable at June 30, 2023 Liability for closure and postclosure costs at June 30, 2023 Accrued interest at June 30, 2023 Leases liability at June 30, 2023 Net pension and OPEB liability at June 30, 2023 (88,265,000) (251,755,000) (1,608,424) (29,632,472) (88,555,756) (6,243,985) (1,684,968) (95,056,316) (1,864,310,181) (2,427,112,102) Deferred outflows and inflows of resources related to pensions, OPEB, and deferred charges or credits on debt refundings are applicable to future reporting periods and, therefore, are not reported in the funds. Deferred outflows of resources related to pensions and OPEB at June 30, 2023 Deferred inflows of resources related to pensions and OPEB at June 30, 2023 Deferred charges on debt refunding at June 30, 2023 611,848,478 (72,394,398) (49,474) 539,404,606 $ Net position of governmental activities 57 4,954,259,322 Notes to the Financial Statements (Continued) The governmental fund reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances is a reconciliation between net changes in fund balances – total governmental funds and changes in net position of governmental activities as reported in the government-wide Statement of Activities. The details of this reconciliation follow: Net change in fund balances – total governmental funds $ Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. Governmental funds capital outlay Government-wide depreciation/amortization expense for the year ended June 30, 2023 (311,804,510) 320,712,801 (116,945,750) 203,767,051 The net effect of various miscellaneous transactions involving capital assets is a decrease to net position. Donations of capital assets Net value of disposed capital assets for the year ended June 30, 2023 5,258,573 (136,935,910) (131,677,337) Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. Grant revenues earned but not yet received during the year ended June 30, 2023 Collections of property taxes plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2023 Collections of settlement revenues exceeding amount reported as earned during the year ended June 30, 2023 Unavailable revenue earned but not yet received during the year ended June 30, 2023 4,229,941 (142,276) (11,218,065) 4,900,382 (2,230,018) The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is issued, whereas these amounts are amortized in the Statement of Activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. Principal payments on certificates of participation Principal payments on pledged revenue obligations Principal payments on financed purchases Proceeds from financed purchases Principal payments on leases Proceeds from leases Accrued interest payable Amortization of COPs premium Amortization of deferred charges on debt refunding 94,135,000 249,070,000 27,083,512 (17,824,516) 27,484,284 (66,900,079) (1,569,872) 1,608,425 49,476 313,136,230 Some expenses reported in the Statement of Activities do not require the use of current financial resources and therefore, are not reported as expenditures in governmental funds. Net increase in employee compensation payable Decrease in inventories Net decrease in closure and postclosure care costs (6,183,177) (347,114) 87,494 (6,442,797) Internal service funds are used by management to charge the costs of equipment services, technology infrastructure, reprographics, risk management, employee benefits, and the sheriff warehouse to individual funds. The net revenue of external activities of these funds is reported with governmental activities. 14,672,458 County pension and OPEB contributions are reported as expenditures in the governmental funds when made. However, they are reported as deferred outflows of resources in the Statement of Net Position because the reported net pension and OPEB liability is measured a year before the County’s report date. Pension and OPEB expense, which is the change in the net liability adjusted for changes in deferred outflows and inflows of resources related to pensions and OPEB, is reported in the Statement of Activities. County pension and OPEB contributions Pension and OPEB expense $ Change in net position of governmental activities 58 454,488,720 (187,463,979) 267,024,741 346,445,818 Notes to the Financial Statements (Continued) NOTE 6 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY At June 30, 2023, the following nonmajor governmental and proprietary funds reported deficits in fund balance or net position. FUND DEFICIT Governmental Funds: Adult Probation Grants Air Quality Grants Clerk of the Court Fill the Gap Clerk of the Court Grants County Attorney Grants Emergency Management Human Services Grants Library District Grants Parks and Recreation Grants Public Health Grants School Grants Sheriff Grants Superior Court Fill the Gap Superior Court Grants Transportation Grants Proprietary Funds: Equipment Services Risk Management $ 73,802 711,938 1,222 185,012 475,466 1,476,691 10,845,581 25,001 182,765 26,400,931 1,280,367 760,269 20,097 29,824 39,782 $ 1,588,433 60,503,764 The deficits in fund balances for Adult Probation Grants, Air Quality Grants, Clerk of the Court Grants, County Attorney Grants, Emergency Management, Human Services Grants, Library District Grants, Parks and Recreation Grants, Public Health Grants, School Grants, Sheriff Grants, Superior Court Grants, and Transportation Grants Funds were attributed to the deferring of certain grant revenues. The County accrues grant revenue received within 60 days after year-end, as it is available and measurable. Revenues received after 60 days are considered not available and are therefore not accrued. As of June 30, 2023, Equipment Services had deficit net position of $1,588,433. This is primarily due to the reporting of noncurrent net pension liabilities as a result of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. The Risk Management Fund’s funding plan calls for the fiscal year ending cash balance to equal the next year’s estimated claims and claims related expenses. As of June 30, 2023, the total net position deficit was $60,503,764. This is primarily due to the Risk Management Fund not being funded for noncurrent accrued claim liabilities. The fund balance deficit for Clerk of the Court Fill the Gap and Superior Court Fill the Gap resulted from operations during the year and is expected to be corrected during normal operations in fiscal year 2024. 59 Notes to the Financial Statements (Continued) NOTE 7 – DEPOSITS AND INVESTMENTS Arizona Revised Statutes (A.R.S.) authorize the County to invest public monies in the State Treasurer’s investment pool; obligations issued or guaranteed by the United States or any of the senior debt of its agencies, sponsored agencies, corporations, sponsored corporations, or instrumentalities; specified state and local government bonds, notes, and other evidences of indebtedness; interest-earning investments such as savings accounts, certificates of deposit, and repurchase agreements in eligible depositories; specified commercial paper issued by corporations organized and doing business in the United States; specified bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars; and certain open-end and closed-end mutual funds, including exchange traded funds. In addition, the County Treasurer may invest trust funds in certain fixed income securities of corporations doing business in the United States or District of Columbia. Credit risk Statutes have the following requirements for credit risk: 1. Commercial paper must be of prime quality and be rated within the top two ratings by a nationally recognized rating agency. 2. Specified bonds, debentures, notes, and other evidences of indebtedness that are denominated in United States dollars must be rated “A” or better at the time of purchase by at least two nationally recognized rating agencies. 3. Fixed income securities must carry 1 of the 2 highest ratings by Moody’s investors service and Standard and Poor’s rating service. If only 1 of these services rates the security, it must carry the highest rating of that service. Custodial credit risk Statutes require collateral for deposit at 102 percent of all deposits federal depository insurance does not cover. Concentration of credit risk Statutes do not include any requirements for concentration of credit risk. Interest rate risk Statutes require that public monies invested in securities and deposits have a maximum maturity of 5 years. However, the Stadium District is allowed by a separate statute to invest monies, not held for operations, in eligible investments with a maturity of greater than 5 years. The maximum maturity for investments in repurchase agreements is 180 days. Foreign currency risk Statutes do not allow foreign investments unless the investment is denominated in United States dollars. Deposits—At June 30, 2023, the carrying amount of the County’s deposits was $227,346,686 and the bank balance was $186,965,494. It is the County’s investment policy to collateralize all deposits not covered by depository insurance in accordance with Statutes. At a minimum, the collateral is to be held by the pledging financial institution or its agent, but does not have to be held in the County’s name. At June 30, 2023, $16,925,000 of the County’s deposits were exposed to custodial credit risk as it was uninsured and uncollateralized. Investments—The County had total investments of $ 7,712,462,370 at June 30, 2023. The County categorized certain investments measured at fair value within the fair value hierarchy established by generally accepted accounting principles as follows: 60 Notes to the Financial Statements (Continued) Fair value measurement using Investments by fair value level U.S. Treasury securities $ Amount Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) 807,253,533 $ $ 807,253,533 U.S. agency securities 3,667,555,057 3,614,179,007 Corporate bonds 1,712,428,217 1,712,428,217 School/fire district bonds Total investments by fair value level Significant unobservable inputs (Level 3) $ 53,376,050 36,006,383 $ Investments measured at the net asset value (NAV) Money market mutual funds Money market mutual funds with trustee Total investments measured at the NAV 36,006,383 6,223,243,190 $ $ 6,133,860,757 $ 89,382,433 1,425,000,000 6,642,357 1,431,642,357 Investments measured at amortized cost School/fire district bonds 27,365,000 School district tax anticipation notes 29,503,842 Other investments Total investments measured at amortized cost Total investments 707,981 57,576,823 $ 7,712,462,370 Investments categorized as level 2 are valued using institutional bid evaluations based on Intercontinental Exchange (ICE) Data Services automated pricing models or Bloomberg. U.S. agency securities categorized as level 3 are valued using Bloomberg. Money market mutual funds are valued using a net asset value (NAV) of $1.00 per share. Privately placed school and fire district bonds with maturities beyond 90 days categorized as level 3 are valued using information from similar investments. Privately placed school and fire district bonds and tax anticipation notes (TANs) with a maximum maturity of 90 days are measured at amortized cost. The $707,981 of other investments are related to the Public Fiduciary, which invests in equities, mutual funds, U.S. Treasury securities, and other types of investments as directed by court order. As these investment amounts are immaterial, no deposit or investment risk disclosures (credit risk, custodial credit risk, concentration of credit risk, and interest rate risk) will be reported for these investments. Credit risk – It is the County’s investment policy to preserve the principal value and the interest income of an investment. The County can invest in obligations issued or guaranteed by the United States or any of the senior debt of its agencies, sponsored agencies, corporations, or instrumentalities. The County can also invest in commercial paper and corporate bonds with ratings that meet the statutory requirements specified above. At June 30, 2023, credit risk for the County’s investments was as follows: Investment Type U. S. agency securities U. S. agency securities U. S. agency securities U. S. agency securities Corporate bonds Corporate bonds Corporate bonds Rating Rating Agency Aaa AA+ Unrated P-1 Aaa AA+ Aa2 Moody’s S&P Not Applicable Moody’s Moody’s S&P Moody’s 61 Amount $ 53,376,050 2,927,769,988 93,080,355 593,328,664 24,621,928 14,548,308 9,154,654 Notes to the Financial Statements (Continued) Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds Corporate bonds School/fire district bonds School/fire district bonds School/fire district bonds School/fire district bonds School/fire district bonds School district TANs School district TANs School district TANs Money market mutual funds Money market mutual funds with trustee Aa3 AAA1 A+ A2 A A3 ABBB+ Baa2 Aa2 Aa3 Baa1 Baa2 Unrated A1 Baa1 Unrated Aaa-mf Aaa-mf Moody’s S&P Moody’s S&P Moody’s S&P Moody’s S&P S&P Moody’s Moody’s Moody’s Moody’s Moody’s Not Applicable Moody’s Moody’s Not Applicable Moody’s Moody’s $ 44,334,252 69,060,747 255,724,665 182,551,633 101,948,470 9,858,020 145,867,876 502,144,977 321,936,082 30,676,605 23,656,701 24,287,588 3,360,000 705,000 11,362,094 5,500,707 4,000,514 20,002,621 1,425,000,000 6,642,357 6,904,500,856 The school and fire district bonds are issued by various districts that deposit their monies with the County Treasurer. Custodial credit risk – For an investment, custodial credit risk is the risk that, in the event of the counterparty’s failure, the County will not be able to recover the value of its investments or collateral securities that are in an outside party’s possession. A.R.S. authorizes the County to enter into an agreement with the trust department of any bank authorized to do business in the state for safekeeping and handling of securities. The safekeeping and handling of investments are conducted through a bank trust department authorized to do business in this state. Securities received by the custodian are held in the County's name in book-entry form and the securities custodian is not the counterparty. At June 30, 2023, the County did not have investments exposed to custodial credit risk. Concentration of credit risk – It is the County’s investment policy to preserve the principal value of its investments. However, due to the limited investments allowed under statutes and the desire to preserve the principal value, the County’s investments may have a concentration of credit risk of more than 5 percent of total investments in one issuer. Five percent or more of the County’s investments at June 30, 2023, were in Federal Home Loan Banks (FHLB), Federal Farm Credit Banks (FFCB), the U.S. Treasury, and Fannie Mae. These investments were 25.4 percent, 11.4 percent, 10.5 percent, and 5.4 percent respectively, of the County’s total investments. Interest rate risk – It is the County’s investment policy to hold investments to maturity, where practical, and avoid any loss on investments resulting from an early sale or retirement of an investment. Additionally, securities should be invested for a shorter duration, where applicable. At June 30, 2023, the County had the following investments in debt securities. Investment Type U.S. Treasury securities U.S. agency securities Corporate bonds Short term bills and notes School/fire district bonds School district TANs Money market mutual funds Money market mutual funds with trustee Amount $ 189,645,508 3,074,226,393 1,712,428,217 1,210,936,689 63,371,383 29,503,842 1,425,000,000 6,642,357 $7,711,754,389 62 Investment Maturities Less than 1–5 1 Year Years $ 29,332,031 $ 160,313,477 763,090,139 2,311,136,254 612,240,572 1,100,187,645 1,210,936,689 27,365,000 36,006,383 29,503,842 1,425,000,000 6,642,357 $4,104,110,630 $3,607,643,759 Notes to the Financial Statements (Continued) Foreign currency risk – The County does not have a formal investment policy with respect to foreign currency risk because State statutes do not allow foreign investments. A reconciliation of cash, deposits, and investments to amounts shown on the Statements of Net Position follows: Cash, deposits and investments: Cash on hand Amount of deposits Amount of investments Total $ 152,860 227,346,686 7,712,462,369 7,939,961,915 $ Custodial Funds External Governmental Private-Purpose Activities Trust-Funds Investment Pool $ $ Other Total Statement of Net Position: Cash in bank and on hand $ 60,348,664 Cash and investments in bank and on hand 11,080,884 Cash and investments held by County Treasurer 2,968,531,724 4,653,130,763 23,568,203 Cash and investments held by trustee Total $ $ 3,052,448,591 $ 60,348,664 43,655,547 54,736,431 179,646,130 7,801,308,617 23,568,203 $ 11,080,884 $ 4,653,130,763 $ 223,301,677 $ 7,939,961,915 NOTE 8 – CONDENSED FINANCIAL STATEMENTS OF COUNTY TREASURER’S INVESTMENT POOL Arizona Revised Statutes require community colleges, school districts, and other local governments to deposit certain public monies with the County Treasurer. The Treasurer has a fiduciary responsibility to administer those and the County’s monies under his stewardship. The Treasurer invests, on a pool basis, all idle monies not specifically invested for a fund or program. In addition, the Treasurer determines the fair value of those pooled investments monthly and at June 30. The County Treasurer’s investment pool is not registered with the Securities and Exchange Commission as an investment company and there is no regulatory oversight of its operations. The pool’s structure does not provide for shares, and the County has not provided or obtained any legally binding guarantees to support the value of the participants’ investments. The Treasurer allocates interest earnings to each of the pool’s participants. However, for the County’s monies in the pool, the Board of Supervisors authorized $11,148,571 of interest earned in certain other funds was transferred to the General Fund. The County’s deposits and investments are included in the County Treasurer’s investment pool, except for $152,860 of cash on hand, $6,636,929 mutual funds with trustee, and $131,863,508 of other deposits and investments. The deposit and investment risks of the Treasurer’s investment pool are substantially the same as the County’s deposit and investment risks. See Note 7– Deposits and Investments for disclosure of the County’s deposit and investment risks. Details of each major investment classification follow: Investment Type Corporate bonds Government agencies Money market mutual funds Private Placements - bonds Private Placements - tans Short term bills and notes US Treasuries Principal 1,822,480,000 3,281,077,000 1,425,000,000 63,240,000 29,500,000 1,215,000,000 205,000,000 Interest Rates 0.32 – 5.72% 0.08 – 3.04% 5.02% 0.70 – 3.29% 3.92 – 3.97% 0.00 – 4.75% 0.75 – 3.86% 63 Maturities 7/23 – 9/26 7/23 – 5/28 n/a 7/23 – 7/25 7/23 7/23 – 9/23 12/23 – 5/27 Fair Value 1,712,428,217 3,074,226,393 1,425,000,000 63,371,383 29,503,842 1,210,936,689 189,645,508 Notes to the Financial Statements (Continued) A condensed statement of the investment pool’s net position and changes in net position follows. Statement of fiduciary net position Assets $ 7,836,293,793 $ 7,836,293,793 $ 3,142,518,426 Liabilities Net position Net position held for: Internal participants External participants 4,693,775,367 Total net position $ 7,836,293,793 Statement of changes in fiduciary net position Total additions $ 19,679,887,195 Total deductions 20,010,696,608 Net increase $ (330,809,413) Net position: July 1, 2022 8,167,103,206 June 30, 2023 $ 7,836,293,793 NOTE 9 – RECEIVABLES Receivables as of year-end for the County’s individual major funds and nonmajor funds in the aggregate are shown as follows. Taxes receivable does not have an allowance for uncollectible taxes, as the amount is considered immaterial. Settlements receivable includes an allowance for uncollectible of $2,941,653. All other receivables are considered collectible. Governmental Funds General Fund Coronavirus Fiscal Recovery Detention Operations Fund County Improvement Fund Other Governmental Funds 4,521,024 $ $ $ $ Total Receivables: Accounts Receivable $ Taxes 11,643,607 Accrued interest 5,824,436 2,254,270 589,218 402,243 6,073,306 $ 10,594,330 1,631,453 13,275,060 4,364,326 13,434,493 Leases Public-private/publicpublic partnerships 2,569,074 2,569,074 10,214,547 10,214,547 Settlements 98,627,085 98,627,085 $ 123,479,791 $ 148,714,589 Total receivables $21,989,067 $ 2,254,270 $ 589,218 $ 402,243 The County leases land to third parties under the provisions of various lease agreements. During the fiscal year ended June 30, 2023, the County recognized total lease-related revenues of $333,966 which consist of lease revenue of $236,208 and interest revenue of $97,758. The County contracts with operators to provide public services under various public-private arrangements. See Note 10 – Public-Private Partnerships for additional information. 64 Notes to the Financial Statements (Continued) The County is a party to opioid settlement agreements facilitated by the State of Arizona Attorney General against the pharmaceutical distributors who manufactured and marketed opioids. As settlements are finalized, the County records a receivable, net of uncollectible, for amounts anticipated to be received. The County is expected to receive revenue over the next 18 years. During the fiscal year ended June 30, 2023, the County recorded revenue related to the opioid settlements in the fund statements of $11,218,065. At June 30, 2023, the County has total deferred inflows of $98,627,085 related to the settlements receivable in the fund statements. NOTE 10 – PUBLIC-PRIVATE PARTNERSHIPS The County, as transferor, has entered into public-private partnership (P3) arrangements with operators to provide public services by conveying control for the right to use capital assets for a period of time in an exchange or exchange-like-transaction under the provisions of various user management agreements. The County recognizes P3 arrangement receivables with an initial, individual value of $1,000,000 or more. If there is no stated rate in the P3 arrangement and the implicit rate cannot be determined, the County uses its own estimated incremental borrowing rate as the discount rate to measure the P3 receivables. The County’s estimated incremental borrowing rate is based on Municipal Market Data (MMD) AAA Curve yield rate index. The operators pay the County either monthly or annually, as outlined below, and the County has recognized a P3 receivable and deferred inflow of resources related to these agreements. Total receivable and deferred inflows at June 30, 2023, related to these arrangements was $10,214,547 and $10,067,661, respectively. The County, as transferor, has entered into P3s with the following operators: Facility operator at Victory Lane Sports Complex: Under the agreement, the Victory Lane Sports Complex operator has the right to operate and provide recreational and ancillary services of the sports complex located at Adobe Dam Regional Park. The Victory Lane Sports Complex operator pays a monthly use fee. Total receivable and deferred inflows at June 30, 2023, related to this agreement was $1,053,878 and $1,039,109, respectively. Facility operator at The 500 Club: Under the agreement, The 500 Club operator has the right to operate the golf course and clubhouse located at Adobe Dam Regional Park. The 500 Club golf course operator pays a monthly use fee. Total receivable and deferred inflows at June 30, 2023, related to this agreement was $1,697,777 and $1,673,865, respectively. Facility operator at Tres Rios Golf Course: Under the agreement, the Tres Rios Golf Course operator has the right to operate the public golf course and clubhouse located at Estrella Mountain Park. The Tres Rios Golf Course operator pays a monthly use. Total receivable and deferred inflows at June 30, 2023, related to this agreement was $2,019,058 and $1,947,826, respectively. Facility operator at Paradise Valley Golf Course: Under the agreement, the Paradise Valley Golf Course operator has the right to operate the public golf course and clubhouse located at Paradise Valley Park. The Paradise Valley Golf Course operator pays a monthly use fee. Total receivable and deferred inflows at June 30, 2023, related to this agreement was $2,026,004 and $1,999,556, respectively. Facility operator at Lake Pleasant Marina: Under the agreement, the Lake Pleasant Marina operator has the right to operate the marina and related concessions located at Lake Pleasant Regional Park. The Lake Pleasant Marina operator pays a monthly use. Total receivable and deferred inflows at June 30, 2023, related to this agreement was $1,829,103 and $1,869,153, respectively. Facility operator at Adobe Dam Water Park: Under the agreement, the Adobe Dam Water Park operator has the right to operate the water park and related concessions located at Adobe Dam Regional Park. The Adobe Dam Water Park operator pays an annual use Total receivable and deferred inflows at June 30, 2023, related to this agreement was $1,588,727 and $1,538,152, respectively. 65 Notes to the Financial Statements (Continued) NOTE 11 – DUE FROM OTHER GOVERNMENTAL UNITS Amounts due from other governmental units at June 30, 2023, as reported on the Governmental Funds balance sheet are as follows: Governmental Funds Detention Operations Fund General Fund Other Governmental Funds State-shared sales tax Vehicle license tax Highway user revenue Jail tax Other surcharges collected by the state Grants and contributions from state and federal Reimbursement for services provided to the federal government, state, cities, towns, and school districts $ 154,404,195 19,108,806 3,167 2,107,488 Total due from other governmental units $ 173,610,302 $ 47,724,430 $ 45,569,732 94,134 47,210 Total 2,923,731 85,051,362 $ 154,404,195 20,630,292 23,757,330 45,569,732 2,923,731 85,192,706 $ 113,253,909 $ 334,588,641 $ 1,521,486 23,757,330 2,110,655 NOTE 12 – CAPITAL ASSETS Capital asset activity for the year ended June 30, 2023 was as follows: Balance July 1, 2022 (restated) Governmental activities: Capital assets not being depreciated/amortized: Land Construction in progress Development in progress Infrastructure Intangibles: Right-to-use lease assets: Land Total capital assets not being depreciated/amortized $ 830,167,064 529,042,534 50,902,871 817,485,775 Increases $ 9,165,118 203,290,957 $ 10,204,259 209,788 Capital assets being depreciated/amortized: Buildings and improvements Machinery and equipment Infrastructure Intangibles: Right-to-use subscription assets Right-to-use lease assets: Buildings and improvements Machinery and equipment Total Balance June 30, 2023 Decreases 9,468,504 219,557,033 50,902,871 19,076,519 $ 829,863,678 512,776,458 808,613,515 209,788 2,227,808,032 222,660,334 299,214,715 2,151,253,651 2,299,881,088 403,963,447 449,053,831 118,214,957 40,886,079 1,216,444 127,924,975 27,951,449 2,290,171,070 416,898,077 450,270,275 11,472,315 120,406,055 48,638,667 5,513,400 3,218,522,748 3,877,729 7,144,804 284,601,264 163,021,228 863,932,507 300,611,004 156,736,948 47,740,757 37,875,455 9,069,177 114,327,054 27,179,348 131,878,370 45,371,592 5,513,400 3,340,102,784 Less accumulated depreciation/amortization for: Buildings and improvements Machinery and equipment Infrastructure Intangibles: Right-to-use subscription assets Right-to-use lease assets: Buildings and improvements Machinery and equipment Total 7,318,471 1,677,774 1,330,276,704 7,351,733 1,682,448 128,232,664 144,896,914 11,279,692 3,360,222 1,313,612,454 Total capital assets being depreciated/ amortized, net 1,888,246,044 156,368,600 18,124,314 2,026,490,330 Governmental activities capital assets, net 797,346,210 311,307,111 165,806,125 24,513,094 $ 4,116,054,076 66 $ 379,028,934 24,513,094 3,390,512 $ 317,339,029 $ 4,177,743,981 Notes to the Financial Statements (Continued) The County pledged certain governmental activities land and buildings as collateral for various certificates of participation. See Note 14 – Long-term Liabilities for additional information regarding outstanding debt at June 30, 2023. On July 1, 2022, Maricopa County restated beginning capital asset balances for governmental activities by ($47,066,798) for corrections related to construction in progress that should have been placed into service or expensed in a prior fiscal year. See Note 3- Beginning Balances Restated for additional information. In addition, on July 1, 2022, Maricopa County restated beginning capital asset balances for governmental activities for construction in progress, development in progress, and right-to-use-subscription assets of ($50,902,871), $50,902,871, and $11,472,315, respectively, due to the implementation of GASB Statement No. 96, Subscription-Based Information Technology Arrangements. There was no impact on beginning net position. Depreciation/amortization expense was charged to functions as follows: Government activities: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Internal service funds Total governmental activities depreciation/amortization expense $ 47,576,180 44,639,201 6,119,179 7,654,984 9,759,674 1,196,532 11,286,914 $ 128,232,664 NOTE 13 – CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS At June 30, 2023, Maricopa County had the following major contractual commitments related to various capital projects. Commitments have been grouped into four major categories: Transportation Construction Projects, Flood Control Construction Projects, Technology Improvement Projects, and Construction of Various County Facilities. Transportation Construction Projects At June 30, 2023, Maricopa County Transportation Department had contractual commitments, including retention payable, of $103,076,468 for construction of various roadway projects. At June 30, 2023, the County had spent $642,956,955 on these projects and had related estimated cost of completion based on the project budgets of $529,832,060, of which not all projects may be completed. Funding for these expenditures will be provided from Highway User Fuel Tax, the primary source of revenue for the Transportation Department. These projects are accounted for in the Transportation Capital Projects Fund (nonmajor governmental fund). Flood Control Construction Projects At June 30, 2023, Maricopa County Flood Control District had contractual commitments, including retention payable, of $112,269,279 for the construction of various flood control projects. At June 30, 2023, the County had spent $252,987,649 on these projects and had related estimated cost of completion based on the project budgets of $766,626,000, of which not all projects may be completed. Funding for these expenditures will be provided from the Flood Control District’s tax levy of property within Maricopa County, the primary source of revenue for the Flood Control District. These projects are accounted for in the Flood Control Capital Projects Fund (nonmajor governmental fund). Technology Improvement Projects At June 30, 2023, Maricopa County had contractual commitments of $113,637,259, including retention payable, related to major capital projects accounted for in the County Improvement Fund (major 67 Notes to the Financial Statements (Continued) governmental fund), Technology Capital Improvement Fund, and Detention Technology Capital Improvement Fund (nonmajor governmental funds), which are partially financed by the Certificates of Participation, Series 2021, and through transfers from the General Fund and Detention Operation Fund. At June 30, 2023, the County had spent $276,135,629 on these projects and had related estimated cost of completion based on the project budgets of $45,705,389, of which not all projects may be completed. Construction of Various County Facilities At June 30, 2023, Maricopa County had contractual commitments of $75,228,501, including retention payable, relating to major capital projects accounted for in the County Improvement Fund, General Fund County Improvements Fund (major governmental funds), and Detention Capital Projects Fund (nonmajor governmental funds), which are anticipated to be partially financed by long-term debt and through transfers from the General Fund and Detention Operations Fund, respectively. At June 30, 2023, the County had spent $200,012,383 on these projects and had related estimated cost of completion based on the project budgets of $171,359,310, of which not all projects may be completed. NOTE 14 – LONG-TERM LIABILITIES The following schedule details the County’s long-term liability and obligation activity for the year ended June 30, 2023. Balance July 1, 2022 (restated) Additions Reductions Balance June 30, 2023 $ $ Due Within One Year Governmental activities: Bonds, certificates of participation (COP), and other payables: COP, direct placement COP PRO, direct placement Financed purchases Lease payable Subscriptions liability* Plus: COP premium Total bonds, COP, and other payables Other liabilities: Reported and incurred but not reported claims Liability for closure and postclosure costs Net pension and other postemployment benefits liability Total other liabilities Governmental activities long-term liabilities $ 155,905,000 $ 77,950,000 77,955,000 $ 77,955,000 93,620,000 60,620,000 33,000,000 16,100,000 500,825,000 38,891,468 46,283,111 11,472,315 846,996,894 249,070,000 27,083,512 12,054,786 18,756,353 445,534,651 251,755,000 29,632,472 38,071,774 59,616,041 490,030,287 251,755,000 11,807,957 6,190,118 7,849,530 371,657,605 1,608,425 1,608,424 17,824,516 3,843,449 66,900,079 88,568,044 3,216,849 850,213,743 88,568,044 447,143,076 491,638,711 371,657,605 95,336,265 175,917,687 180,815,930 90,438,022 35,474,911 6,331,479 114,116 201,610 6,243,985 561,037 1,627,709,710 251,801,175 595,516 1,878,915,369 1,729,377,454 427,832,978 181,613,056 1,975,597,376 36,035,948 $ 2,579,591,197 $ 516,401,022 $ 628,756,132 $ 2,467,236,087 $ 407,693,553 * Due to the implementation of GASB Statement No. 96 for subscription-based information technology arrangements, the County’s beginning liability balance was restated from fiscal year 2022. There was no impact to net position. The County also has an unused revolving line of credit in the amount of $35,000,000. See Note 16 – Line of Credit for more information. Certificates of Participation On August 26, 2016, the Maricopa County Public Finance Corporation issued Certificates of Participation, Series 2016, direct placement, for $44,460,000 with an interest rate at 1.35% to refund $51,095,000 of outstanding Lease Revenue Bonds, Series 2007A with interest rates ranging from 4.00% - 5.00%. The certificates are payable semiannually on January 1 and July 1 of each year through 2023. These certificates are secured by the collateralization of the South Court Tower. The certificates are not callable prior to their scheduled maturity dates. 68 Notes to the Financial Statements (Continued) On March 14, 2018, Maricopa County issued $106,295,000 of Certificates of Participation, Series 2018A, to pay for the redevelopment of the County’s former Madison Street Jail into office space and related parking facilities. The 2018A Certificates were executed and delivered under a trust agreement, dated June 1, 2015, and by a second supplement to the trust agreement, dated as of March 1, 2018. The certificates have interest rates ranging from 4.0 to 5.0 percent, payable semiannually on January 1 and July 1 each year, commencing on July 1, 2018, through 2024. These certificates are secured by the collateralization of the South Court Tower. The certificates are not callable prior to their scheduled maturity dates. On February 23, 2022, Maricopa County issued $142,810,000 of Certificates of Participation, Series 2022, direct placement, to pay for various capital projects. The two largest projects are the Electronic Court Recording System Project and the East Valley Animal Care and Control Facility Project. The certificates have an interest rate of 0.90%, payable semiannually on August 1 and February 1 of each year, commencing on August 1, 2022, through 2023. These certificates are secured by the collateralization of the South Court Tower. The certificates are not callable prior to their scheduled maturity dates. The County’s outstanding Certificates of Participation, direct placement, and Certificates of Participation of $77,955,000 and $33,000,000, respectively, contain provisions that in an event of default, the trustee may at its option elect to terminate the lease, take possession of the leased property, and/or sell, convey, re-rent or re-let the leased property. The County’s Certificates of Participation also contain a subjective acceleration clause that in an event of default allows the owners of at least 5% in outstanding principal amount to request the trustee to declare the certificates to be immediately due and payable. The following certificates of participation were outstanding at June 30, 2023: DESCRIPTION INTEREST RATES AMOUNT OF ISSUE COP, Series 2016 direct placement $ COP, Series 2018A COP, Series 2022 direct placement OUTSTANDING AT JUNE 30, 2023 MATURITY DATES 44,460,000 1.35% 7-1-23 106,295,000 4.0 – 5.0% 7-1-23/24 142,810,000 0.90% 8-1-23 $ 71,365,000 $ 293,565,000 Total 6,590,000 33,000,000 $ 110,955,000 Annual debt service requirements to maturity for certificates of participation are as follows: COP, Series 2016 – Direct Placement Year Ending June 30 2024 $ $ COP, Series 2018A COP, Series 2022 – Direct Placement Principal Interest Principal Interest Principal 6,590,000 $ 44,482 $ 16,100,000 $ 1,247,500 $ 71,365,000 $ 321,143 16,900,000 422,500 $ 33,000,000 $ 1,670,000 $ 71,365,000 $ 321,143 2025 Total Governmental Activities 6,590,000 $ 44,482 Interest Pledged Revenue Obligations On April 27, 2022, Maricopa County issued $500,825,000 of Pledged Revenue Obligations, Taxable Series 2022, direct placement, to pay for pension related costs and obligations. The 2022 Pledged Revenue Obligations have an interest rate of 2.05%, payable semiannually on August 1 and February 1 of each year, commencing on August 1, 2022, through 2023. The County has pledged the County’s Excise Tax, State Shared Sales Tax, Vehicle License Tax, and PILT Revenues to repay $500,825,000 in pledged revenue obligations. The total amount of these pledged revenues in the current year was $984.3 million. While future debt service payments will be approximately 25 percent of future revenues each year, it is not expected that these revenues will be needed as the final payment on these obligations is due August 1, 2023. The obligations are not callable prior to their scheduled maturity dates. 69 Notes to the Financial Statements (Continued) The following pledged revenue obligations were outstanding at June 30, 2023: DESCRIPTION AMOUNT OF ISSUE INTEREST RATES MATURITY DATES 2.05% 8-1-23 PRO, Series 2022 direct placement $ 500,825,000 Total $ 500,825,000 OUTSTANDING AT JUNE 30, 2023 $ 251,755,000 $ 251,755,000 Annual debt service requirements to maturity for pledged revenue obligations are as follows: Governmental Activities PRO, Series 2022 – Direct Placement Year Ending June 30 2024 Principal $ 251,755,000 Interest $ 2,580,489 Total $ 251,755,000 $ 2,580,489 The County’s outstanding Pledged Revenue Obligations, direct placement, of $251,755,000, contain provisions that in an event of default, the owners of a majority of the outstanding principal amount can request the Trustee to institute legal proceedings against the County to continue, discontinue, withdraw, compromise, settle, or dispose of the agreement. Financed Purchases The County has acquired vehicles, computer systems, and equipment under contract agreements at a total purchase price of $29,632,473. The following schedule details debt service requirements to maturity for the County’s financed purchases at June 30, 2023. Governmental Activities Year Ending June 30 2024 Principal $ 11,807,957 $ $ 17,824,516 29,632,473 796,147 $ 1,069,818 2025 Total Interest 273,671 Leases The County, as a lessee, has acquired the right-to-use building space, equipment, and vehicles under the provisions of various lease agreements. For all leases in excess of 12 months and that do not have mutual termination provisions, does not transfer the asset to the County at the term of the lease, is an exchange or exchange-like transaction, and meet the threshold where the present value of the minimum lease payments is $500,000 or more, the County recognizes a right-to-use lease asset and a corresponding lease liability. The right-to-use lease asset is initially measured at the value of the lease liability, plus any payments made prior to lease commencement, plus direct cost incurred to place the asset into service, less any incentives received prior to commencement. For additional information refer to Note 11 - Capital Assets. The total amount of lease assets and the related accumulated amortization are as follows: Intangible right to use lease assets Less: accumulated amortization 50,884,992 14,639,914 $ Carrying value 70 36,245,078 Notes to the Financial Statements (Continued) The following schedule details minimum lease payments to maturity for the County’s leases payable at June 30, 2023: Governmental Activities Year ending June 30 Principal Interest 2024 $ 6,190,118 $ 1,154,598 2025 4,492,307 1,001,236 2026 3,385,994 874,935 2027 2,767,159 781,650 2028 2,744,648 678,041 2029-2033 12,156,412 2,147,111 2034-2038 5,302,524 636,398 2039-2043 737,988 123,332 2044-2046 294,624 $ 38,071,774 18,345 $ 7,415,646 Total Subscription-based information technology arrangements (SBITAs) The County has obtained the right-to-use IT software subscriptions under the provisions of various subscription-based information technology arrangements (SBITA). For all IT software subscription arrangements in excess of 12 months and that do not have mutual termination provisions, does not transfer the asset to the County at the term of the subscription, is an exchange or exchange-like transaction, and meet the threshold where the present value of the minimum lease payments is $1,000,000 or more, the County recognizes a right-to-use the SBITA asset and a corresponding SBITA liability. The right-to-use SBITA asset is initially measured at the value of the SBITA liability, plus any payments made prior to subscription commencement, plus direct cost incurred to place the asset into service, less any incentives received prior to commencement. For additional information refer to Note 12 - Capital Assets. The total amount of SBITA assets and the related accumulated amortization are as follows: Intangible right-to-use SBITA assets Less: accumulated amortization Carrying value $ 131,878,370 24,513,094 $ 107,365,276 The following schedule details minimum subscription payments to maturity for the County's subscription liability at June 30, 2023: Governmental activities Year ending June 30 2024 2025 2026 2027 2028 2029-2033 2034-2037 Total Principal $7,849,530 8,696,218 7,342,602 7,441,098 6,392,240 18,057,420 3,836,933 $59,616,041 71 Interest $2,006,968 1,739,281 1,444,384 1,200,627 953,497 1,924,748 327,017 $9,596,522 Notes to the Financial Statements (Continued) Funding Source for Governmental Activities Liabilities Governmental Activities Liabilities Funding Source Certificates of participation County Improvement Debt Fund Pledged revenue obligations Pledged Revenue Obligation Debt Fund Financed purchases Leases Subscription-based information technology arrangements County Improvement Debt Fund, General Fund Various funds Various funds Claims and judgments Reported and incurred but not reported claims General Fund, Transportation Operations Fund and Flood Control Fund (nonmajor special revenue funds) Risk Management Fund and Employee Benefits Trust Fund Liability for closure and postclosure costs Net pension and other postemployment benefits liabilities (Internal service funds) General Fund Various funds Legal Debt Margin County indebtedness pertaining to general obligation bonds may not exceed six percent of the value of the County’s taxable property ascertained by the last assessment. However, with voter approval, the County may become indebted for an amount not to exceed fifteen percent of such taxable property. At June 30, 2023, the allowable six and fifteen percent limits were $4,334,298,894 and $10,835,747,234, respectively. The County had no outstanding general obligation debt at June 30, 2023 and was therefore within the legal debt margin. Arbitrage Compliance The County is in compliance with all Federal arbitrage regulations for tax-exempt debt securities. As of June 30, 2023, the County had $563,169 in arbitrage liabilities. NOTE 15 – MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS The County has five landfills which are subject to closure and postclosure care requirements. Federal and State laws and regulations require the County to place a final cover on all its landfill sites when they stop accepting waste and to perform certain maintenance and monitoring functions at the sites for 30 years after closure. Although one landfill is exempt from these regulations, the County is performing postclosure monitoring of this site and has included the estimated costs in the closure and postclosure liability. The County’s last remaining landfill stopped accepting waste May 2007 and the final cover was completed in October 2010. At June 30, 2023, the County updated the estimates required to pay for maintenance and monitoring at the County's five landfill sites, in accordance with generally accepted accounting principles. The County estimated these costs to be approximately $6,243,985. The County’s estimate for closure and postclosure care requirements for the five landfills are subject to change due to inflation, changes in technology, changes in regulations, or results of an investigational study. All associated closure and postclosure costs will be paid from the General Fund. These amounts are based on what it would cost to perform all closure and postclosure care and remedial investigation costs in fiscal year 2023. According to Federal and State laws and regulations, the County must comply with the local government financial test requirements that ensure the County can meet the costs of landfill closure, postclosure, and corrective action when needed. The County is in compliance with these requirements. 72 Notes to the Financial Statements (Continued) NOTE 16 – MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT On July 1, 2022, the County maintained a $35,000,000 municipal revolving line of credit with an interest rate equal to the bank’s most recently publicly announced prime rate, which had a maturity date of June 30, 2023. Outstanding principal and interest are due on June 30 of each year. During fiscal year 2023, the County had not borrowed against the line of credit. The municipal revolving line of credit was renewed to June 30, 2024. On July 1, 2022, the County maintained a $24,265,086 irrevocable standby letter of credit issued to the Industrial Commission of Arizona for unfunded workers’ compensation claims. On January 1, 2023, the letter of credit was decreased to $21,543,845. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2023, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to June 30, 2024, for $21,543,845. However, an amendment will be issued on January 1, 2024, for the new liability amount. NOTE 17 – RISK MANAGEMENT The Risk Management Fund (internal service fund) accounts for the financing of the insured risk of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees and natural disasters. The County is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The County carries commercial insurance for all such risks of loss, including workers’ compensation and employees’ health and accident insurance. Settled claims resulting from these risks have not exceeded this commercial coverage since the inception of these insurance policies. Liabilities for unpaid claims are estimates determined by an independent actuary using the following actuarial methods: developed paid loss, developed reported incurred losses, developed case reserves, frequency times severity analysis, loss rate analysis, and the Bornhuetter-Ferguson method. Accrued actuarial liabilities are based on a discounted expected confidence level assuming a 3.0 percent annual rate of return on investments. Accrued actuarial liabilities at June 30, 2023, for each insurable area follow: Auto liability General liability Workers’ compensation Medical malpractice Employment practices Auto physical damage Property Professional liability Environmental property damage Environmental liability Cyber Unallocated Total $ $ 1,368,000 22,063,000 22,483,000 4,322,000 501,000 554,000 169,000 856,000 4,537,873 11,205,238 273,000 5,690,000 74,022,111 Changes in the unpaid claims liability reported in the Risk Management Fund follow: Year 2020-21 2021-22 2022-23 $ Balance July 1 70,364,681 76,447,497 79,898,171 Current-Year Claims And Changes In Estimates $ 17,910,067 27,098,318 11,637,099 73 Claims Payments $ (11,827,251) (23,647,644) (17,513,159) Balance June 30 $ 76,447,497 79,898,171 74,022,111 Notes to the Financial Statements (Continued) The Employee Benefits Trust Fund (internal service fund) accounts for the financing of the insured risk of loss for certain health benefits (medical, dental, short-term disability, and vision claims) to eligible employees and their dependents. Accrued actuarial liabilities at June 30, 2023, for each insurable area follow: Medical Dental Short-term disability Vision Total $ $ 15,149,614 782,082 397,767 86,448 16,415,911 Changes in the unpaid claims liabilities reported in the Employee Benefits Trust Fund follow: Year 2020-21 2021-22 2022-23 Balance July 1 $ 15,833,849 16,709,378 15,438,094 Current-Year Claims And Changes In Estimates $ 150,266,488 167,063,412 164,280,588 $ Claims Payments (149,390,959) (168,334,696) (163,302,771) $ Balance June 30 16,709,378 15,438,094 16,415,911 NOTE 18 – POLLUTION REMEDIATION OBLIGATIONS Maricopa County has estimated and reported a pollution remediation obligation in the Risk Management internal service fund financial statements for the current or potential detrimental effects of existing pollution. These obligations are categorized under environmental property damage and environmental liability in Note 17 – Risk Management. At June 30, 2023, the County reported $15,743,111 of reported but unpaid claims, which is composed of the following pollution remediation obligations. Cave Creek Landfill – The County entered a Consent Decree with Arizona Department of Environmental Quality (ADEQ) to remediate contaminated groundwater at County owned (closed) Cave Creek Landfill. A revised Remedial Action Plan was approved by ADEQ in November 2016. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The estimate consists of a groundwater remediation program, a soil vapor extraction system and continued mandated monitoring and reporting to ADEQ. Hassayampa Site - County owned property adjacent to a (closed) municipal landfill is on the Superfund National Priorities List by the United States Environmental Protection Agency (EPA), pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), 42 U.S.C. §9605(a)(8), due to suspected groundwater contamination. The County is responsible for 27.78% of the remediation costs. The County’s reported pollution remediation liability is an estimate provided by a professional environmental consultant. The groundwater extraction and soil vapor extraction treatment systems will continue to be run until the groundwater and soil meet Federal cleanup levels. Queen Creek Landfill – During mandated monitoring of the (closed) Queen Creek municipal landfill, levels of a potential pollutant were discovered at concentrations above the Aquifer Water Quality Standard (AWQS) of 5 micrograms per liter (μg/L). The County has engaged a professional environmental consultant to characterize the extent of the pollution and to determine the most effective remediation actions. The estimate includes costs for additional assessment and for infrastructure (such as additional monitoring wells) to provide sufficient data to allow an effective remediation plan to be developed. The County pollution remediation liability is subject to change due to changes in the cost of goods and services, changes in remediation technology, or changes in laws and regulations governing the remediation effort. The County has no estimated recoveries at this time. 74 Notes to the Financial Statements (Continued) NOTE 19 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS The County contributes to the plans described below. The plans are component units of the State of Arizona. At June 30, 2023, the County reported the following aggregate amounts related to pensions and other postemployment benefits (OPEB) for all plans to which it contributes: Statement of Net Position and Statement of Activities Net OPEB asset Net pension liability Governmental Activities $ 48,436,664 1,878,239,446 Net OPEB liability 675,923 Deferred outflows of resources related to pensions Deferred outflows of resources related to OPEB Deferred inflows of resources related to pensions Deferred inflows of resources related to OPEB Pension expense OPEB expense (income) 609,760,717 4,516,284 50,422,970 23,010,582 187,408,100 (7,279,014) The County’s accrued payroll and employee benefits includes $8,127,590 of outstanding pension and OPEB contribution amounts payable to all pension plans for the year ended June 30, 2023. Also, the County reported $455,979,081 of pension and OPEB contributions as expenditures in the governmental funds related to all pension and OPEB plans to which it contributes. A. Arizona State Retirement System Plan description—County employees not covered by the other pension plans described below participate in the Arizona State Retirement System (ASRS). The ASRS administers a cost-sharing multiple-employer defined benefit pension plan, a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan, and a cost-sharing multiple-employer defined benefit long-term disability (OPEB) plan. The Arizona State Retirement System Board governs the ASRS according to the provisions of A.R.S. Title 38, Chapter 5, Article 2. The ASRS issues a publicly available financial report that includes its financial statements and required supplementary information. The report is available on its website at www.azasrs.gov. Benefits provided—The ASRS provides retirement and survivor benefits. State statute establishes benefit terms. Retirement benefits are calculated on the basis of age, average monthly compensation, and service credit as follows: 75 Notes to the Financial Statements (Continued) Years of service and age required to receive benefit Final average salary is based on Retirement Initial membership date: Before July 1, 2011 On or after July 1, 2011 Sum of years and age equals 80 30 years age 55 10 years, age 62 25 years, age 60 5 years, age 50* 10 years, age 62 any years, age 65 5 years, age 50* any years, age 65 Highest 36 consecutive months Highest 60 consecutive of last 120 months months of last 120 months Benefit percent per year of service *With actuarially reduced benefits. 2.1% to 2.3% 2.1% to 2.3% Retirement benefits for members who joined the ASRS prior to September 13, 2013, are subject to automatic cost-of-living adjustments based on excess investment earnings. Members with a membership date on or after September 13, 2013, are not eligible for cost-of-living adjustments. Survivor benefits are payable upon a member’s death. For retired members, the retirement benefit option chosen determines the survivor benefit. For all other members, the beneficiary is entitled to the member’s account balance that includes the member’s contributions and employer’s contributions, plus interest earned. Health insurance premium benefits are available to retired or disabled members with 5 years of credited service. The benefits are payable only with respect to allowable health insurance premiums for which the member is responsible. For members with 10 or more years of service, benefits range from $100 per month to $260 per month depending on the age of the member and dependents. For members with 5 to 9 years of service, the benefits are the same dollar amounts as above multiplied by a vesting fraction based on completed years of service. Active members are eligible for a monthly long-term disability benefit equal to two-thirds of monthly earnings. Members receiving benefits continue to earn service credit up to their normal retirement dates. Members with long-term disability commencement dates after June 30, 1999, are limited to 30 years of service or the service on record as of the effective disability date if their service is greater than 30 years Contributions—In accordance with State statutes, annual actuarial valuations determine active member and employer contribution requirements. The combined active member and employer contribution rates are expected to finance the costs of benefits employees earn during the year, with an additional amount to finance any unfunded accrued liability. For the year ended June 30, 2023, statute required active ASRS members to contribute at the actuarially determined rate of 12.17 percent (12.03 percent for retirement and 0.14 percent for log-term disability) of the members’ annual covered payroll for retirement, and statute required the County to contribute at the actuarially determined rate of 12.17 percent (11.92 percent for retirement, 0.11 percent for health insurance premium benefit, and 0.14 percent for long-term disability) of the active members’ annual covered payroll. In addition, the County was required by statute to contribute at the actuarially determined rate of 9.68 percent (9.62 percent for retirement and 0.06 percent for long-term disability) of annual covered payroll of retired members who worked for the County in positions that an employee who contributes to the ASRS would typically fill. The County’s contributions to the pension, health insurance premium benefit, and longterm disability plans for the year ended June 30, 2023, were $78,849,856, $720,234, and $911,366, respectively. 76 Notes to the Financial Statements (Continued) During fiscal year 2023, the County paid for ASRS pension contributions as follows: 61.0 percent from the General Fund, 11.8 percent from major funds, and 27.2 percent from other funds. Liability—At June 30, 2023, the County reported the following asset and liabilities for its proportionate share of the ASRS’ net pension/OPEB asset or liability. ASRS Net pension/OPEB (asset) liability Pension $ 792,447,087 Health insurance premium benefit Long-term disability (27,462,651) 450,465 The net asset and liabilities were measured as of June 30, 2022. The total liability used to calculate the net asset or net liability was determined using update procedures to roll forward the total liability from an actuarial valuation as of June 30, 2021, to the measurement date of June 30, 2022. The County’s proportion of the net asset or net liability was based on the County’s actual contributions to the plan relative to the total of all participating employers’ contributions for the year ended June 30, 2022. The County’s proportions measured as of June 30, 2022, and the change from its proportions measured as of June 30, 2021, were: ASRS Proportion June 30, 2022 Increase (decrease) from June 30, 2021 Pension 4.9% (0.1) Health insurance premium benefit Long-term disability 4.9% 4.9% (0.2) (0.2) Expense—For the year ended June 30, 2023, the County recognized the following pension and OPEB expense. ASRS Pension/OPEB expense Pension 78,486,620 Health insurance premium benefit Long-term disability (3,997,692) 149,771 Deferred outflows/inflows of resources—At June 30, 2023, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: ASRS Deferred outflows of resources Pension Deferred inflows of resources Health insurance premium benefit Deferred outflows of Deferred inflows resources of resources Long-term disability Deferred Deferred outflows of inflows of resources resources Differences between expected and actual experience $ 6,752,124 $ $ $14,015,328 $ 234,461 $ 419,734 Changes of assumptions or other inputs 39,330,671 749,000 245,331 1,099,423 Net difference between projected and actual earnings on plan investments Changes in proportion and differences between County contributions and proportionate share of contributions County contributions subsequent to the measurement date Total 445,709 925,101 20,873,822 3,591,363 18,452,807 208,162 78,849,856 $128,524,014 23,861 720,234 $39,326,629 $1,374,105 77 13,999 108,491 158,597 911,366 $15,713,290 $1,499,649 $1,691,753 Notes to the Financial Statements (Continued) The amounts reported as deferred outflows of resources related to ASRS pensions and OPEB resulting from county contributions subsequent to the measurement date will be recognized as an increase of the net asset or a reduction of the net pension liability in the year ending June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions and OPEB will be recognized as expenses as follows: Year ending June 30 2024 2025 2026 2027 2028 Thereafter Health insurance premium benefit (4,153,051) (4,520,827) (4,961,402) (705,495) (718,644) Pension 31,379,912 (18,200,067) (36,241,865) 33,409,549 Long-term disability (99,846) (125,057) (230,575) (28,497) (227,760) (391,735) Actuarial assumptions—The significant actuarial assumptions used to measure the total pension and OPEB liability are as follows: ASRS Actuarial valuation date Actuarial roll forward date Actuarial cost method Investment rate of return Projected salary increases Inflation Permanent benefit increase Mortality rates Recovery rates Healthcare cost trend rate June 30, 2021 June 30, 2022 Entry age normal 7.0% 2.9–8.4% for pensions/not applicable for OPEB 2.3% Included for pensions/not applicable for OPEB 2017 SRA Scale U-MP for pensions and health insurance premium benefit 2012 GLDT for long-term disability Not applicable Actuarial assumptions used in the June 30, 2021, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2020. The long-term expected rate of return on ASRS plan investments was determined to be 7.0 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Asset Class Equity Fixed income - credit Fixed income - interest rate sensitive Real estate Total Target Allocation 50% 20% 10% 20% 100% 78 Long-Term Expected Geometric Real Rate of Return 3.90% 5.30% (0.20%) 6.00% Notes to the Financial Statements (Continued) Discount rate— At June 30, 2022, the discount rate used to measure the ASRS total pension/OPEB liability was 7.0 percent. The projection of cash flows used to determine the discount rate assumed that contributions from participating employers will be made based on the actuarially determined rates based on the ASRS Board’s funding policy, which establishes the contractually required rate under Arizona statute. Based on those assumptions, the plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension/OPEB liability. Sensitivity of the County’s proportionate share of the ASRS net pension/OPEB (asset) liability to changes in the discount rate—The following table presents the County’s proportionate share of the net pension/OPEB (asset) liability calculated using the discount rate of 7.0 percent, as well as what the County’s proportionate share of the net pension/OPEB (asset) liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.0 percent) or 1 percentage point higher (8.0 percent) than the current rate: ASRS County’s proportionate share of the Net pension liability Net insurance premium benefit liability (asset) 1% Decrease (6.0%) $ 1,169,232,133 Current Discount Rate (7.0%) $ 792,447,087 1% Increase (8.0%) $ 478,267,235 (19,747,082) (27,462,651) (34,008,977) 746,738 450,464 163,311 Net long-term disability liability Plan fiduciary net position—Detailed information about the plan’s fiduciary net position is available in the separately issued ASRS financial report. B. Public Safety Personnel Retirement System and Corrections Officer Retirement Plan Plan descriptions—County sheriff employees and County attorney investigators who are regularly assigned hazardous duty participate in the Public Safety Personnel Retirement System (PSPRS) or employees who became members on or after July 1, 2017, may participate in the Public Safety Personnel Defined Contribution Retirement Plan (PSPDCRP). Previously, County park rangers participated in the PSPRS; however, the plan currently has no active members and only four inactive members. This plan has not had any active members since fiscal year 2006-07. The net pension liability for this plan of $556,150 is included in the County’s total net pension liability; however, the details of this plan are not disclosed in the note below as there are no active members and it is not material. The PSPRS administers agent and cost-sharing multiple-employer defined benefit pension plans and agent and cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plans. A nine-member board known as the Board of Trustees and the participating local boards govern the PSPRS according to the provisions of A.R.S. Title 38, Chapter 5, Article 4. County sheriff employees who are PSPRS members participate in the agent plan. County attorney investigators who were PSPRS members before July 1, 2017, participate in the agent plan, and those who became PSPRS members on or after July 1, 2017, participate in the cost-sharing plan (PSPRS Tier 3 Risk Pool), which is not further disclosed because of its relative insignificance to the County’s financial statements. 79 Notes to the Financial Statements (Continued) County detention officers and Administrative Office of the Courts (AOC) probation, surveillance, and juvenile detention officers participate in the Corrections Officer Retirement Plan (CORP) or the Public Safety Personnel Defined Contribution Retirement Plan (PSPDCRP). The CORP administers an agent multiple-employer defined benefit pension plan and an agent multiple-employer defined benefit health insurance premium benefit (OPEB) plan for county detention officers (agent plans), which was closed to new members as of July 1, 2018, and a cost-sharing multiple-employer defined benefit pension and a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan for AOC officers (cost-sharing plans). Employees who were CORP members before July 1, 2018, participate in CORP, and AOC probation and surveillance officers who became members on or after July 1, 2018, participate in CORP or PSPDCRP. Detentions officers and juvenile detention officers who became members on or after July 1, 2018, participate in PSPDCRP. The PSPRS Board of Trustees and the participating local boards govern CORP according to the provisions of A.R.S. Title 38, Chapter 5, Article 6. The PSPRS issues a publicly available financial report that includes financial statements and required supplementary information for the PSPRS and CORP plans. The report is available on the PSPRS website at www.psprs.com. Benefits provided—The PSPRS and CORP provide retirement, health insurance premium supplement, disability, and survivor benefits. State statute establishes benefit terms. Retirement, disability, and survivor benefits are calculated on the basis of age, average monthly compensation, and service credit as follows: PSPRS Initial membership date: On or after January 1, 2012 and before July 1, 2017 Before January 1, 2012 Retirement and disability Years of service and age required to receive benefit Final average salary is based on 20 years of service, any age 15 years of service, age 62 Highest 36 consecutive months of last 20 years 25 years of service or 15 years of credited service, age 52.5 Highest 60 consecutive months of last 20 years On or after July 1, 2017 15 years of credited service, age 52.5* 15 or more years of service, age 55 Highest 60 consecutive months of last 15 years Benefit percent Normal retirement 1.5% to 2.5% per year of credited service, not to exceed 80% 50% less 2.0% for each year of credited service less than 20 years OR plus 2.0% to 2.5% for each year of credited service over 20 years, not to exceed 80% Accidental disability retirement 50% or normal retirement, whichever is greater Catastrophic disability retirement 90% for the first 60 months then reduced to either 62.5% or normal retirement, whichever is greater Ordinary disability retirement Normal retirement calculated with actual years of credited service or 20 years of credited service, whichever is greater, multiplied by years of credited service (not to exceed 20 years) divided by 20 80 Notes to the Financial Statements (Continued) PSPRS Initial membership date: On or after January 1, 2012 and before July 1, 2017 Before January 1, 2012 On or after July 1, 2017 Survivor Benefit Retired members 80% to 100% of retired member’s pension benefit Active members 80% to 100% of accidental disability retirement benefit or 100% of average monthly compensation if death was the result of injuries received on the job *With actuarially reduced benefits. CORP Initial membership date: On or after January 1, 2012 and before July 1, 2018 AOC probation and surveillance officers: On or after July 1, 2018 Sum of years and age equals 80 20 years, any age 10 years, age 62 Highest 36 consecutive months of last 10 years 25 years, age 52.5 10 years, age 62 10 years, age 52.5* 10 or more years, age 55 Normal retirement 2.0% to 2.5% per year of credited service, not to exceed 80% 2.5% per year of credited service, not to exceed 80% Accidental disability retirement 50% or normal retirement if more than 20 years of credited service Before January 1, 2012 Retirement and disability Years of service and age required to receive benefit Final average salary is based on Highest 60 consecutive months of last 10 years Benefit percent 1.25% to 2.25% per year of credited service, not to exceed 80% 50% or normal retirement if more than 25 years of credited service Total and permanent disability retirement 50% or normal retirement if more than 25 years of credited service Ordinary disability retirement 2.5% per year of credited service Survivor benefit Retired members 80% of retired member’s pension benefit Active members 40% of average monthly compensation or 100% of average monthly compensation if death was the result of injuries received on the job. If there is no surviving spouse or eligible children, the beneficiary is entitled to 2 times the member’s contributions. *With actuarially reduced benefits. Retirement and survivor benefits are subject to automatic cost-of-living adjustments based on inflation. PSPRS also provides temporary disability benefits of 50 percent of the member’s compensation for up to 12 months. 81 Notes to the Financial Statements (Continued) Health insurance premium benefits are available to retired or disabled members with 5 years of credited service. The benefits are payable only with respect to allowable health insurance premiums for which the member is responsible. Benefits range from $100 per month to $260 per month depending on the age of the member and dependents. Employees covered by benefit terms—At June 30, 2023, the following employees were covered by the agent plans’ benefit terms: Inactive employees or beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Active employees Total PSPRS Sheriff Pension Health 604 604 PSPRS Attorney Investigators Pension Health 24 24 CORP Detention Health 779 779 Pension 150 87 2 0 532 0 518 1,272 518 1,209 6 32 6 30 1,322 2,633 1,322 2,101 Contributions—State statutes establish the pension contribution requirements for active PSPRS and CORP employees. In accordance with State statutes, annual actuarial valuations determine employer contribution requirements for PSPRS and CORP pension and health insurance premium benefits. The combined active member and employer contribution rates are expected to finance the costs of benefits employees earn during the year, with an additional amount to finance any unfunded accrued liability. Contributions rates for the year ended June 30, 2023, are indicated below. Rates are a percentage of active members’ annual covered payroll. PSPRS Sheriff Active member-pension County-pension County-health insurance premium benefit 7.65%-11.65% 72.73%-76.77% 0.0-0.12% 7.65-11.14 21.78 0.0-0.12 8.41 31.06 0.0 8.41 or 10.18 36.70 or 37.74 0.36 or 0.23 PSPRS Attorney Investigators CORP Detention CORP AOC In addition, statute required the County to contribute at the actuarially determined rate indicated below of annual covered payroll of retired members who worked for the County in positions that an employee who contributes to the PSPRS or CORP would typically fill and employees participating in the PSPDCRP in addition to the County’s required contributions to the PSPDCRP. Pension Health insurance premium benefit PSPRS Sheriff 63.39% 0.0% PSPRS Attorney Investigators CORP Detention 9.92% 25.59% 0.0% 0.0% CORP AOC 32.79% 0.09% The County’s contributions to the plans for the year ended June 30, 2023, were: Pension PSPRS Sheriff $ PSPRS Attorney Investigators CORP Detention CORP AOC 82 192,463,746 Health insurance premium benefit $ 17,011 573,138 236 139,717,777 28,010,281 262,291 Notes to the Financial Statements (Continued) During fiscal year 2023, the County paid for PSPRS and CORP pension and OPEB contributions as follows: 47.7 percent from the General Fund, 49.6 percent from major funds, and 2.7 percent from other funds. Liability—At June 30, 2023, the County reported the following assets and liabilities: Net pension (asset) liability PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ 336,976,208 1,765,010 304,920,251 265,556,033 Net OPEB (asset) liability $ (7,940,702) (145,546) (9,342,079) 225,458 The net assets and net liabilities were measured as of June 30, 2022, and the total liability used to calculate the net asset or liability was determined by an actuarial valuation as of that date. The total liabilities as of June 30, 2022, reflect changes of actuarial assumptions, including decreasing the investment rate of return from 7.3 percent to 7.2 percent, changing the wage inflation from 3.5 percent to a range of 3.0 – 6.25 percent, and increasing the cost-of-living adjustment from 1.75 percent to 1.85 percent. Actuarial assumptions—The significant actuarial assumptions used to measure the total pension and OPEB liability are as follows: PSPRS and CORP Actuarial valuation date Actuarial cost method Investment rate of return Wage inflation Price inflation Cost-of-living adjustment Mortality rates Healthcare cost trend rate June 30, 2022 Entry age normal 7.2% 3.0 – 6.25% for pensions/not applicable for OPEB 2.5% for pensions/not applicable for OPEB 1.85% for pensions/not applicable for OPEB PubS-2010 tables Not applicable Actuarial assumptions used in the June 30, 2022, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2021. The long-term expected rate of return on PSPRS and CORP plan investments was determined to be 7.2 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of plan investment expenses and inflation) are developed for each major asset class. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: 83 Notes to the Financial Statements (Continued) PSPRS and CORP Asset class U.S. public equity International public equity Global private equity Other assets (capital appreciation) Core bonds Private credit Diversifying strategies Cash - Mellon Total Target allocation 24% 16% 20% 7% 2% 20% 10% 1% 100% Long-term expected geometric real rate of return 3.49% 4.47% 7.18% 4.83% 0.45% 5.10% 2.68% -0.35% Discount rates—At June 30, 2022, the discount rate used to measure the PSPRS and CORP total pension/OPEB liabilities was 7.2 percent, which was a decrease of 0.1 from the discount rate used as of June 30, 2021. The projection of cash flows used to determine the discount rates assumed that plan member contributions will be made at the current contribution rate and that employer contributions will be made at rates equal to the difference between the actuarially determined contribution rate and the member rate. Based on those assumptions, the plans’ fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension/OPEB liability. Changes in the net pension/OPEB liability PSPRS Sheriff Balances at June 30, 2022 Changes for the year: Service cost Interest on the total liability Changes of benefit terms Differences between expected and actual experience in the measurement of the liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2023 Pension Increase (decrease) Health insurance premium benefit Increase (decrease) Total pension liability (a) $683,323,376 Plan fiduciary net position (b) $353,825,902 Net pension (asset) liability (a) – (b) $329,497,474 Total OPEB liability (a) $8,328,541 Plan fiduciary net position (b) $17,506,371 Net OPEB (asset) liability (a) – (b) $(9,177,830) 10,828,938 49,211,467 0 5,965,460 0 0 0 0 10,828,938 49,211,467 0 5,965,460 243,944 612,792 0 (427,235) 0 0 0 243,944 612,792 0 (427,235) 7,252,576 0 7,252,576 160,898 0 160,898 0 0 0 (40,045,251) 75,342,368 4,877,185 (14,258,578) (40,045,251) (75,342,368) (4,877,185) 14,258,578 0 0 0 0 (356,146) 27,491 27,491 (689,438) (356,146) (27,491) (27,491) 689,438 0 33,213,190 $716,536,566 (257,162) 75,894 25,734,456 $379,560,358 257,162 (75,894) 7,478,734 $336,976,208 0 0 234,253 $8,562,794 (12,273) 0 (1,002,875) $16,503,496 12,273 0 1,237,128 $(7,940,702) 84 Notes to the Financial Statements (Continued) PSPRS Attorney Investigators Balances at June 30, 2022 Changes for the year: Service cost Interest on the total liability Changes of benefit terms Differences between expected and actual experience in the measurement of the liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2023 Pension Increase (decrease) Health insurance premium benefit Increase (decrease) Total pension liability (a) 12,661,911 Plan fiduciary net position (b) 12,722,758 Net pension (asset) liability (a) – (b) (60,847) Total OPEB liability (a) 172,049 Plan fiduciary net position (b) 327,969 Net OPEB (asset) liability (a) – (b) (155,920) 122,220 878,051 0 1,081,605 0 0 0 0 122,220 878,051 0 1,081,605 3,633 12,394 0 (20,871) 0 0 0 0 3,633 12,394 0 (20,871) 164,119 0 164,119 2,174 0 2,174 0 0 0 (1,512,078) 871,154 51,759 (493,854) (1,512,078) (871,154) (51,759) 493,854 0 0 0 0 (11,790) 0 0 (12,816) (11,790) 0 0 12,816 0 0 0 733,917 13,395,828 (8,921) 0 (1,091,940) 11,630,818 8,921 0 1,825,857 1,765,010 0 0 (14,460) 157,589 (228) 0 (24,834) 303,135 228 0 10,374 (145,546) CORP Detention Pension Increase (decrease) Balances at June 30, 2022 Changes for the year: Service cost Interest on the total liability Changes of benefit terms Differences between expected and actual experience in the measurement of the liability Changes of assumptions or other inputs Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2023 Health insurance premium benefit Increase (decrease) Total pension liability (a) 655,541,347 Plan fiduciary net position (b) 403,163,425 Net pension (asset) liability (a) – (b) 252,377,922 Total OPEB liability (a) 11,203,449 Plan fiduciary net position (b) 22,401,511 Net OPEB (asset) liability (a) – (b) (11,198,062) 12,296,461 47,691,387 0 14,492,259 0 0 0 0 12,296,461 47,691,387 0 14,492,259 224,700 820,808 0 (191,102) 0 0 0 0 224,700 820,808 0 (191,102) 8,596,721 0 8,596,721 156,759 0 156,759 0 0 0 (29,062,286) 38,595,842 7,408,812 (15,108,809) (29,062,286) (38,595,842) (7,408,812) 15,108,809 0 0 0 0 (368,406) 0 0 (829,910) (368,406) 0 0 829,910 0 0 0 54,014,542 709,555,889 (277,196) (84,150) 1,472,213 404,635,638 277,196 84,150 52,542,329 304,920,251 0 0 642,759 11,846,208 (14,908) 0 (1,213,224) 21,188,287 14,908 0 1,855,983 (9,342,079) The County’s proportion of the CORP AOC net pension and OPEB liabilities was based on the County’s actual contributions to the plans relative to the total of all participating counties’ actual contributions for the year ended June 30, 2022. The County’s proportion measured as of June 30, 2022, and the change from its proportions measured as of June 30, 2021, were: CORP AOC Pension Health insurance premium benefit Proportion June 30, 2022 59.5% 59.7 85 Increase (decrease) from June 30, 2021 0.1 (0.1) Notes to the Financial Statements (Continued) Sensitivity of the County’s net pension/OPEB (asset) liability to changes in the discount rate—The following table presents the County’s net pension/OPEB (assets) liabilities calculated using the discount rate of 7.2 percent, as well as what the County’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.2 percent) or 1 percentage point higher (8.2 percent) than the current rate: 1% Decrease (6.2%) PSPRS Sheriff Net pension (asset) liability Net OPEB (asset) liability PSPRS Attorney Investigators Net pension (asset) liability Net OPEB (asset) liability CORP Detention Net pension (asset) liability Net OPEB (asset) liability CORP AOC Net pension (asset) liability Net OPEB (asset) liability Current discount rate (7.2%) 1% Increase (8.2%) $429,432,211 (6,998,707) $336,976,208 (7,940,702) $261,128,633 (8,736,351) 3,032,317 (131,951) 1,765,010 (145,546) 684,313 (157,335) 410,340,751 (7,847,044) 304,920,251 (9,342,079) 219,907,674 (10,589,097) 348,756,603 1,227,716 265,556,033 225,458 197,490,387 (620,467) Plan fiduciary net position—Detailed information about the plans’ fiduciary net position is available in the separately issued PSPRS and CORP financial reports. Expense—For the year ended June 30, 2023, the County recognized the following pension expense: Pension expense PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ 41,312,567 625,728 38,035,479 30,106,256 OPEB expense $ (1,213,688) (48,407) (1,257,021) (582,569) Deferred outflows/inflows of resources—At June 30, 2023, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: PSPRS Sheriff Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments County contributions subsequent to the measurement date Total Pension Deferred outflows of resources Deferred inflows of resources $10,795,356 7,920,922 $609,771 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $1,898,896 $153,864 7,012,103 255,479 192,463,746 17,011 $218,192,127 86 $609,771 $426,354 $1,898,896 Notes to the Financial Statements (Continued) PSPRS Attorney Investigators Pension Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments County contributions subsequent to the measurement date Total Deferred outflows of resources Deferred inflows of resources $540,803 82,060 $0 162,165 4,628 573,138 236 $1,358,166 CORP Detention $0 Pension Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments County contributions subsequent to the measurement date Total Deferred outflows of resources Deferred inflows of resources $31,915,555 11,864,647 $2,752,982 $5,951 $10,436 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $200,259 5,673,146 $1,591,904 238,735 230,407 139,717,777 $189,171,125 CORP AOC $2,752,982 Pension Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments Changes in proportion and differences between County contributions and proportionate share of contributions County contributions subsequent to the measurement date Total Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $10,436 $1,087 Deferred outflows of resources Deferred inflows of resources $14,111,919 8,643,772 $3,922,851 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $1,665,500 125,214 1,996,323 43,011 $5,919,174 $489,000 28,010,281 $56,450,329 $1,830,639 $58,484 4,494,048 1,190,309 $430,666 26,366 262,291 $1,691,866 The amounts reported as deferred outflows of resources related to pensions and OPEB resulting from County contributions subsequent to the measurement date will be recognized as a reduction of the net liability in the year ending June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as expenses as follows: Year ending June 30 2024 2025 2026 2027 2028 Thereafter PSPRS Sheriff Pension Health $9,815,202 $(625,195) 4,804,511 (659,050) (453,679) (385,980) 10,952,576 180,672 PSPRS Attorney Investigators Pension Health $643,244 $(8,454) (12,317) (144) (126,056) (3,387) 280,157 7,264 87 CORP Detention Pension Health $13,940,606 $(687,970) 13,901,966 (454,226) 5,210,394 (596,562) 13,647,400 344,508 (5,723) CORP AOC Pension Health $12,065,438 $(465,754) 3,361,109 (457,704) (3,130,855 (379,922) 10,225,182 (73,445) (88,332) Notes to the Financial Statements (Continued) PSPDCRP plan—County sheriff employees, County attorney investigators, County detention officers, and AOC probation, surveillance, and juvenile detention officers who are not members of PSPRS or CORP participate in the PSPDCRP. The PSPDCRP is a defined contribution pension plan. The PSPRS Board of Trustees governs the PSPDCRP according to the provisions of A.R.S. Title 38, Chapter 5, Article 4.1. Benefit terms, including contribution requirements, are established by State statute. For the year ended June 30, 2023, active PSPDCRP members were required by statute to contribute at least 9 percent (County sheriff employees and County attorney investigators) or 5 percent (County detention officers, and AOC probation, surveillance, and juvenile detention officers) of the member’s annual covered payroll, and the County was required by statute to contribute 9 percent or 5 percent, respectively, of active members’ annual covered payroll to an individual employee account. Employees are immediately vested in their own contributions and the earnings on those contributions. Employees vest in a portion of the County’s contributions each year as set forth in statute. The plan retains nonvested County contributions when forfeited because of employment terminations. For the year ended June 30, 2023, the County recognized pension expense of $1,075,181. C. Elected Officials Retirement Plan Plan description—Elected officials and judges participate in the Elected Officials Retirement Plan (EORP), ASRS or the Elected Officials Defined Contribution Retirement System (EODCRS). EORP administers a cost-sharing multiple-employer defined benefit pension plan and a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan for elected officials and judges who were members of the plan on December 31, 2013. The EORP pension and OPEB plans was closed to new members as of January 1, 2014. The PSPRS Board of Trustees governs the EORP according to the provisions of A.R.S. Title 38, Chapter 5, Article 3. The PSPRS issues a publicly available financial report that includes financial statements and required supplementary information for the EORP plan. The report is available on PSPRS’s website at www.psprs.com. Benefits provided—The EORP provides retirement, health insurance premium supplement, disability, and survivor benefits. State statute establishes benefit terms. Retirement, disability, and survivor benefits are calculated on the basis of age, average yearly compensation, and service credit as follows: Initial membership date: Before January 1, 2012 On or after January 1, 2012 Retirement and disability Years of service and age required to receive benefit Final average salary is based on 20 years, any age 10 years, age 62 5 years, age 65 5 years, any age* any years and age if disabled 10 years, age 62 5 years, age 65 any years and age if disabled Highest 36 consecutive months of last 10 years Highest 60 consecutive months of last 10 years 4% per year of service, not to exceed 80% 3% per year of service, not to exceed 75% 80% with 10 or more years of service 40% with 5 to 10 years of service 20% with less than 5 years of service 75% with 10 or more years of service 37.5% with 5 to 10 years of service 18.75% with less than 5 years of service Benefit percent Normal Retirement Disability Retirement 88 Notes to the Financial Statements (Continued) Initial membership date: Before January 1, 2012 On or after January 1, 2012 Survivor benefit Retired Members 75% of retired member’s benefit 50% of retired member’s benefit Active Members and other inactive members 75% of disability retirement benefit 50% of disability retirement benefit * With reduced benefits of 0.25% for each month early retirement precedes the member’s normal retirement age, with a maximum reduction of 30%. Retirement and survivor benefits are subject to automatic cost-of-living adjustments based on inflation. In addition, the Legislature may enact permanent one-time benefit increases after a Joint Legislative Budget Committee analysis of the increase’s effects on the plan. Health insurance premium benefits are available to retired or disabled members with 5 years of credited service. The benefits are payable only with respect to allowable health insurance premiums for which the member is responsible. For members with 8 or more years of service, benefits range from $100 per month to $260 per month depending on the age of the member and dependents. For members with 5 to 7 years of service, the benefits are the same dollar amounts as above multiplied by a vesting fraction based on completed years of service. Contributions—State statutes establish active member and employer contribution requirements. Statute also appropriates $5 million annually through fiscal year 2043 for the EORP from the State of Arizona to supplement the normal cost plus an amount to amortize the unfunded accrued liability and designates a portion of certain court fees for the EORP. For the year ended June 30, 2023, statute required active EORP members to contribute 7 or 13 percent of the members’ annual covered payroll and the County to contribute at the actuarially determined rate of 70.42 percent of all active EORP members’ annual covered payroll. Also, statute required the County to contribute 58.39 percent to EORP of the annual covered payroll of elected officials and judges who were ASRS members and 64.42 percent to EORP of the annual covered payroll of elected officials and judges who were EODCRS members, in addition to the County’s required contributions to ASRS and EODCRS for these elected officials and judges. In addition, statute required the County to contribute 48.58 percent of annual covered payroll of retired members who worked for the County in positions that an employee who contributes to the EORP would typically fill. The County’s contributions to the pension plan for the year ended June 30, 2023, were $14,453,145. During fiscal year 2023, the County paid for EORP pension contributions as follows: 97.0 percent from the General Fund and 3.0 percent from other nonmajor funds. Liability—At June 30, 2023, the County reported a liability for its proportionate share of the EORP’s net pension liability that reflected a reduction for the County’s proportionate share of the State’s appropriation for EORP. The amount the County recognized as its proportionate share of the net pension liability, the related state support, and the total portion of the net pension liability that was associated with the County were as follows: County’s proportionate share of the EORP net pension liability State’s proportionate share of the EORP net pension liability associated with the County Total $ 176,018,707 $ 15,617,827 191,636,534 The County also reported an asset of $3,496,249 for its proportionate share of EORP’s net OPEB asset. 89 Notes to the Financial Statements (Continued) The net asset and net pension liability was measured as of June 30, 2022, and the total liability used to calculate the net asset or net liability was determined by an actuarial valuation as of that date. The total liabilities as of June 30, 2022, reflect changes of actuarial assumptions, including decreasing the investment rate of return from 7.3 percent to 7.2 percent, decreasing the wage inflation from 3.75 percent to 3.25 percent, and increasing the cost-of-living adjustment from 1.75 percent to 1.85 percent. The County’s proportion of the net pension liability was based on the County’s required contributions to the plan relative to the total of all participating employers’ required contributions for the year ended June 30, 2022. The County’s proportion of the net OPEB asset was based on the County’s present value of benefits relative to the total of all participating employers’ present value of the benefits for the year ended June 30, 2022. The County’s proportion measured as of June 30, 2022, and the change from its proportions measured as of June 30, 2021, were: EORP Proportion June 30, 2022 26.1% 27.2% Pension Health insurance premium benefit Increase (decrease) from June 30, 2021 (0.5) (0.5) Expense—For the year ended June 30, 2023, the County recognized pension and OPEB expenses for EORP of $6,091,223 and ($325,926), respectively, and revenue of $5,010,462 for the County’s proportionate share of the State’s appropriation to EORP and the designated court fees. Deferred outflows/inflows of resources—At June 30, 2023, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: Pension Deferred outflows of resources Differences between expected and actual experience Changes of assumptions or other inputs Net difference between projected and actual earnings on plan investments Changes in proportion and differences between County contributions and proportionate share of contributions County contributions subsequent to the measurement date Total $1,589,529 Deferred inflows of resources Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $ $63,548 57,014 $157,026 140,095 $14,453,145 $16,042,674 1,814,418 29,050 16,676 $1,814,418 $289,707 $173,702 The amounts reported as deferred outflows of resources related to EORP pensions and OPEB resulting from County contributions subsequent to the measurement date will be recognized as a reduction of the net liability in the year ending June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to EORP pensions will be recognized in pension expense as follows: Year ending June 30 2024 2025 2026 2027 Pensions $ (1,494,332) 15,263 (749,200) 2,003,381 90 Health insurance premium benefit $ 6,126 2,771 (62,775) 169,883 Notes to the Financial Statements (Continued) Actuarial assumptions—The significant actuarial assumptions used to measure the total pension/OPEB liability are as follows: EORP Actuarial valuation date Actuarial cost method Investment rate of return Wage inflation Price inflation Cost-of-living adjustment Mortality rates Healthcare cost trend rate June 30, 2022 Entry age normal 7.2% 3.25% /not applicable for OPEB 2.5% /not applicable for OPEB 1.85% /not applicable for OPEB PubG-2010 tables Not applicable Actuarial assumptions used in the June 30, 2022, valuation were based on the results of an actuarial experience study for the 5-year period ended June 30, 2021. The long-term expected rate of return on EORP pension plan investments was determined to be 7.2 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expenses and inflation) are developed for each major asset class. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Target allocation Long-term geometric real rate of return U.S. public equity 24% 3.49% International public equity 16% 4.47% Global private equity 20% 7.18% Other assets (capital appreciation) 7% 4.83% Core bonds 2% 0.45% Private credit 20% 5.10% Diversifying strategies 10% 1% 100% 2.68% Asset class Cash - Mellon Total -0.35% Discount rate—At June 30, 2022, the discount rate used to measure the EORP total pension liability and total OPEB liability was 7.2 percent, which was a decrease of 0.1 from the discount rate used as of June 30, 2021. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate, employer contributions will be made at the actuarially determined rates, and State contributions will be made as currently required by statute. Based on those assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension/OPEB liability. Sensitivity of the County’s proportionate share of the EORP net pension/OPEB (asset) liability to changes in the discount rate—The following table presents the County’s proportionate share of the net pension/OPEB (asset) liability calculated using the discount rate of 7.2 percent, as well as what the County’s proportionate share of the net pension/OPEB (asset) liability would be if it was calculated using a discount rate that is 1 percentage point lower (6.2 percent) or 1 percentage point higher (8.2 percent) than the current rate: 91 Notes to the Financial Statements (Continued) EORP County’s proportionate share of the net pension liability County’s proportionate share of the net OPEB (asset) 1% Decrease (6.2%) Current discount rate (7.2%) 1% Increase (8.2%) $ 200,950,083 $ 176,018,707 $ 154,663,251 $ (3,206,249) $ (3,496,249) $ (3,748,971) Plan fiduciary net position—Detailed information about the plan’s fiduciary net position is available in the separately issued EORP financial report. EODCRS plan—Elected officials and judges who are not members of EORP or ASRS participate in the EODCRS. The EODCRS is a defined contribution pension plan. The PSPRS Board of Trustees governs the EODCRS according to the provisions of A.R.S Title 38, Chapter 5, Articles 3.1 and 3.2. Benefit terms, including contribution requirements, are established by State statute. For the year ended June 30, 2023, active EODCRS members were required by statute to contribute 8 percent of the members’ annual covered payroll, and the County was required by statute to contribute 6 percent of active members’ annual covered payroll to an individual employee account. Employees are immediately vested in their own contributions and the County’s contributions to the individual employee account and the earnings on those contributions. For the year ended June 30, 2023, the County recognized pension expense of $327,152. NOTE 20 – INTERFUND BALANCES AND ACTIVITY Interfund receivables and payables – interfund balances at June 30, 2023, were as follows: Payable To Payable from County Improvement Fund Nonmajor Governmental Funds Internal Service Funds Total Due From General Fund 9,256,910 33,424,590 315,317 $ 42,996,817 Total Due To 9,256,910 33,424,590 315,317 $ 42,996,817 All interfund receivables and payables represent cash deficits that were the result of timing differences from grant revenues received in the subsequent year and cash transfers that had not occurred at June 30, 2023. Interfund transfers – interfund transfers for the year ended June 30, 2023, were as follows: Transfers In Transfers Out General Fund General Fund $ Detention Operations Fund General Fund County Improvements Fund Nonmajor Governmental Funds Total Transfers Out $201,587,546 $322,031,231 $358,879,988 $882,498,765 88,479,593 88,479,593 Detention Operations Fund General Fund County Improvement Fund 26,347,736 Nonmajor Governmental Funds 16,547,739 3,050,965 $42,895,475 $204,638,511 Internal Service Funds Total Transfers In $322,031,231 77,280,625 103,628,361 144,228,766 163,827,470 14,500 14,500 $668,883,472 $1,238,448,689 All interfund transfers are budgeted and are used to move revenues from the fund that collects them to the fund that expends them. Transfers out from the General Fund to the Detention Operations Fund, General Fund County Improvement Fund, and Nonmajor Governmental Funds were for the statutorily required Maintenance of Effort payments, capital projects, and debt service payments, respectively. 92 Notes to the Financial Statements (Continued) The interfund receivables, payables, and transfers by fund are as follows: Funds Due From Other Funds Due To Other Funds Transfers In Transfers Out MAJOR FUNDS General Fund $42,996,817 $ $42,895,475 $882,498,765 204,638,511 88,479,593 322,031,231 103,628,361 Special Revenue Funds Detention Operations Capital Projects Funds County Improvement Fund 9,256,910 General Fund County Improvement NONMAJOR FUNDS Special Revenue Funds Air Quality Fees 36,000 Air Quality Grants 916,198 Animal Control License/Shelter 6,583,720 CDBG Housing Trust 1,118,617 Clerk of the Court Grants 272,775 County Attorney Grants 1,053,452 Emergency Management 853,521 Environmental Services Environmental Health 51,825 Flood Control 38,589,812 Human Services Grants 2,427,828 Juvenile Probation Grants 34,500 Juvenile Restitution 34,500 Law Library Fees 1,000,000 Parks and Recreation Grants 125,266 Parks Enhancement 14,500 Public Health Fees 954 Public Health Grants 29,337,304 School Grants 768,759 Sheriff RICO 97,315 Superior Court Building Repair 1,000,000 Transportation Operations 63,446,544 Capital Projects Funds Detention Capital Projects 4,202,474 Detention Technology Capital Improvement 39,875,548 150,965 Flood Control Capital Projects 38,589,812 Technology Capital Improvement 12,593,528 Transportation Capital Projects 63,446,544 19,611,484 Debt Service Funds County Improvement Debt 29,945,614 Pledged Revenue 509,956,173 Internal Service Funds Equipment Services 14,500 Sheriff Warehouse Total 315,317 $42,996,817 93 $42,996,817 $1,238,448,689 $1,238,448,689 Notes to the Financial Statements (Continued) NOTE 21 – SUBSEQUENT EVENTS On August 31, 2023, Maricopa County utilized proceeds from the Pledged Revenue Obligations, Series 2022, to make advanced payments of $92 million to the Maricopa County Sheriff’s Office Public Safety Personnel Retirement System Plan and $98 million to the Maricopa County Corrections Officer Retirement Plan. The payments were made to reduce the unfunded actuarial accrued liabilities and were included in the fiscal year 2024 budget. Maricopa County is named in a consolidated class action property tax-related lawsuit known as Qasimyar vs. Maricopa County. Although the Tax Court has ruled in favor of the plaintiffs, Qasimyar et.al., a final judgment on Qasimyar vs. Maricopa County has not been issued. Once a final judgment is entered, the County will begin processing resolutions for the affected parcels. As a financial impact cannot be determined until the resolution process is completed, the financial impact to the County is unknown. Under the One Arizona Opioid Settlement Memorandum of Understanding (One Arizona Plan) related to national opioid settlements, Maricopa County is allocated a portion of settlement monies as the cases are settled. The Arizona Attorney General’s Office handles the settlements for all parties in the One Arizona Plan. Five settlements have occurred since June 30, 2023, and the County will recognize approximately $77.2 million in revenues in fiscal year 2024. NOTE 22 – DISCRETELY PRESENTED COMPONENT UNIT DISCLOSURES The significant accounting disclosures for Maricopa County’s discretely presented component units, the Housing Authority of Maricopa County (HAMC) and Industrial Development Authority of Maricopa County (IDA), are presented below. For additional information on HAMC and IDA, see Note 1 – Summary of Significant Accounting Policies, Section A – Reporting Entity. A. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The County’s component units’ financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America applicable to governmental units adopted by the Governmental Accounting Standards Board (GASB). The statement of net position and the statement of activities are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. B. Deposits and Investments IDA Investments in securities are stated at fair value. Deposits and investments at June 30, 2023, consist of the following: Deposits: Cash in bank $ 3,126,137 Investments: Money market 18,277,418 Federal Home Loan Banks 2,465,648 Federal National Mortgage Association 32,774 Government National Mortgage Association 14,780 Arizona Community Foundation 2,234,610 3,368 Down Payment Assistance Investment Notes $ Total deposits and investments: 94 26,154,735 Notes to the Financial Statements (Continued) Deposits Custodial credit risk is the risk that in the event of a bank failure, the IDA’s deposits may not be returned to it. The IDA places its cash with high-credit quality financial institutions. At various times throughout the year and at year-end, the IDA’s cash balances exceed the federally insured limits. At June 30, 2023, $20,903,555 was uninsured and uncollateralized. Management believes there are no unusual risks associated with current depository institutions. The IDA has no policy concerning exposure to custodial credit risk. Investments Interest Rate Risk – The IDA’s investment policy concerning exposure to interest rate risk is acceptance of no return lower than the market return normally associated with any specific asset class into which the IDA invests. Estimated maturities of the Authority’s investments consisted of the following at June 30, 2023: Within six months Investment Type Federal National Mortgage Association Six months to one year $ $ One to three years $ More than three years $ Government National Mortgage Association Federal Home Loan Banks 2,465,648 Arizona Community Foundation 2,234,610 Totals: $ 4,701,643 32,774 $ 32,774 14,780 14,780 2,465,648 2,234,610 1,385 Down Payment Assistance Investment Notes Totals 1,983 $ 1,983 3,368 $ $ 47,554 $ 4,751,180 Concentration Risk – The IDA’s investment policy concerning exposure to concentration risk is to diversify investments so as to minimize the risk of large losses, unless under certain circumstances it is clearly prudent not to do so. More than 5% of IDA’s investments at June 30, 2023 were in Federal Home Loan Banks and the Arizona Community Foundation. These investments were 51.9% and 47.0%, respectively, of the IDA’s total investments. Credit Risk – The IDA’s investment policy concerning exposure to credit risk is acceptance of no risk in excess of market risks normally associated with any specific asset class into which the IDA invests. At June 30, 2023, credit risk for the Authority’s investments was as follows: Moody's Rating Standard and Poor's Rating Federal Home Loan Banks Aaa AA+ Federal National Mortgage Association Aaa AA+ Government National Mortgage Association Aaa AA+ Investment type Custodial Credit Risk – The IDA has no policy concerning exposure to custodial credit risk. All investments are reported at fair value. Investments are uninsured and unregistered and held by investment brokers in the IDA’s name. The IDA had an unrealized loss in the fair value of investments of $154,038 and no realized gains or losses for the year ended June 30, 2023. The unrealized and realized gains/losses are included in investment earnings in nonoperating revenues in the accompanying statement of revenues, expenses and changes in fund net position. 95 Notes to the Financial Statements (Continued) Fair Value of Investments – In determining fair value, the IDA uses various valuation approaches within the fair value measurement framework. Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. The fair value measurement framework establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The fair value measurements define levels within the hierarchy based on the reliability of inputs as follows: Level 1 – Valuations based on unadjusted quoted prices for identical assets or liabilities in active markets; Level 2 – Valuations based on quoted prices for similar assets or liabilities or identical assets or liabilities in less active markets, such as dealer or broker markets; and Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable, such as pricing models, discounted cash flow models and similar techniques not based on market, exchange, dealer or broker-traded transactions. The IDA’s investments at June 30, 2023, categorized within the fair value hierarchy detailed above were as follows: Fair Value Measurements Using Level 1 Level 2 Total Investments by fair value level Federal Home Loan Banks Federal National Mortgage Association Government National Mortgage Association Arizona Community Foundation Total investments by fair value level: $ External investments measured at net asset value Down Payment Assistance Investment Notes Totals investments measured at fair value: $ 2,465,648 32,774 14,780 2,234,610 4,747,812 $ $ 3,368 4,751,180 Level 3 $ $ 2,465,648 32,774 14,780 $ $ $ 2,513,202 $ 2,234,610 2,234,610 C. Capital Assets The following is a summary of the changes in capital assets for the year ended June 30, 2023 for HAMC: Balance July 1, 2022 Increase Balance June 30, 2023 Decrease Nondepreciable assets: Land Construction in progress Total capital assets not being depreciated $ Depreciable assets: Buildings and improvements Machinery and equipment Total Less accumulated depreciation for: Buildings and improvements Machinery and equipment 6,115,136 1,003,467 7,118,603 $ 705,000 3,889,855 4,594,855 156,062,516 6,816,141 162,878,657 668,181 49,726,669 3,553,140 $ 101,651 668,181 769,832 $ 6,718,485 4,225,141 10,943,626 668,181 4,243,475 383,780 4,627,255 152,487,222 6,432,361 158,919,583 4,077,796 734,764 3,923,141 207,477 49,881,324 4,080,427 Total 53,279,809 4,812,560 4,130,618 53,961,751 Total capital assets being depreciated, net 109,598,848 (4,144,379) 496,637 104,957,832 Total capital assets $ 116,717,451 96 $ 450,476 $ 1,266,469 $ 115,901,458 Notes to the Financial Statements (Continued) D. Long-Term Debt The following is a summary of the changes in noncurrent liabilities for the year ended June 30, 2023 for HAMC: Balance July 1, 2022 Loans and other payables: Long-term debt Other noncurrent liabilities Net pension liabilities Total noncurrent liabilities Additions Balance June 30, 2023 Reductions Due Within One Year $ 39,364,555 2,353,418 2,794,784 $ 998,189 327,758 912,222 $ 654,099 2,094,175 279,340 $ 39,708,645 587,001 3,427,666 $ 2,359,592 16,338 $ 44,512,757 $ 2,238,169 $ 3,027,614 $ 43,723,312 $ 2,375,930 The Authority executed a repayment agreement in 2015 with HUD totaling $468,781 to repay HCV HAP funds as determined by a HUD Quality Assurance Division review. The agreement bears no interest and will call for equal quarterly payments over a period of 25 years from nonfederal sources of $4,687 commencing January 1, 2016. The outstanding balance was $328,147 as of June 30, 2023, which is included in accounts payable on the accompanying statement of net position. The following is a summary of long-term debt for HAMC as of June 30, 2023: During 2017, HAMC executed a promissory note with FirstBank in the amount of $3,880,841 to assist in the renovation of Casa Bonitas. The loan carries an interest rate of 5.40% per annum, payable in monthly interest only payments through May 2019, at which time the loan converted to permanent financing. Monthly payments of principal and interest in the amount of $20,790 are due until maturity in November 2035. On December 21, 2012, Rose Terrace Development Partnership, LLC entered into a loan agreement with FirstBank in the original amount of $2,619,600. The loan bore interest at a rate of the greater of 6.0% or the five-year Treasury Rate plus 3.0% and required monthly payments of principal and interest of $13,793. The loan was repaid in full on January 26, 2023 with proceeds from a non-interest bearing loan from the HAMC. During 2003, HAMC executed a promissory note payable to Community Service of Arizona, Inc., for the Maricopa Revitalization property with an original amount of $570,000. The note bears interest at 0.50% per annum commencing on the payment due date as defined in the note agreement. The outstanding loan balance shall be paid at the earlier of the date of sale of the property; breach of covenant, condition or restriction; or 15 years after the date of the project completion. Payments are contingent on positive cash flow of the Partnership. During 2017, HAMC executed a promissory note payable to Maricopa County in the original amount of $450,000. The note bears interest at 2.00% per annum. The note is to be repaid in annual installments of $31,486 beginning in 2020 and subject to net cash flow as defined in the agreement. All principal and interest outstanding is due no later than the 17th year following project completion, estimated at January 2036. On June 27, 2018, HAMC entered into a promissory note payable to the City of Tempe in the amount of $500,000. The note bears no interest and is to be repaid in full on June 27, 2038. During 2020, the Authority executed a promissory note payable to One Mortgage Partners Corp in the original amount of $900,000. The note bears no interest, and is to be repaid in full on December 18, 2035. Permanent loan payable to CDT II, LLC in the original amount of $1,410,540. The permanent loan requires monthly principal and interest payments of $8,294 with interest at 5.82%. The loan matures on October 1, 2035 and is secured by a first mortgage on the property. If the loan is prepaid at any time prior to June 1, 2035, a prepayment penalty is due. Second mortgage note payable due to Arizona Department of Housing in the original amount of $715,527. The second mortgage note payable bears interest at 2% per annum, commencing September 13, 2017. Annual payments of principal and interest are payable from cash flows commencing January 1, 2018. Any remaining unpaid principal balance is due at maturity on September 29, 2037. 97 $ 3,721,629 2,015,880 570,000 450,000 500,000 900,000 1,312,655 213,755 Notes to the Financial Statements (Continued) Third mortgage payable due to Maricopa County in the original amount of $320,000. The mortgage note payable bears no interest. The note is repayable through annual payments subject to cash flows commencing June 1, 2018. Any remaining unpaid principal is due at maturity on June 1, 2038 Permanent loan payable to CDT II, LLC in the original amount of $1,521,500. The permanent loan requires monthly principal and interest payments of $8,947 with interest at 5.82%. The loan matures on October 1, 2035 and is secured by a first lien on the property. If the loan is prepaid at any time prior to June 1, 2035, a prepayment penalty is due. Note payable due to Maricopa County in the original amount of $200,000. The note payable bears no interest. Annual payments of $10,000 are due commencing June 1, 2018 and is subject to cash flow. Any remaining unpaid principal balance is due at maturity on June 1, 2038. The note is secured by the real estate. HUD-insured mortgage payable to Red Mortgage Capital, LLC dated March 1, 2016 with a maximum principal amount of $14,150,000. On September 1, 2021, Coffelt-Lamoreaux amended the note for an interest rate reduction to 3.07%. The note is payable in monthly installments commencing December 1, 2017 and has a maturity date of December 1, 2057. The loan is secured in first priority by a Multifamily Deed of Trust. Community Development Block Grant (CDBG) loan totaling $650,000 due to the City of Phoenix for construction of the project. On January 25, 2018, the note was amended to increase the principal balance to $1,000,000. Annual payments of principal and interest are payable from surplus cash, not to exceed 75% of available surplus cash. The note bears simple interest at a rate of 4% per annum. The loan is nonrecourse debt secured in third priority by the project's rental property. Second mortgage totaling $1,000,000 due to ADOH for construction of the project. The mortgage bears interest at 2% per annum, with annual payments of principal and interest of $36,339 subject to surplus cash flow commencing June 30, 2018 until maturity on June 30, 2057. The loan is nonrecourse debt secured by the project's rental property. Note payable to JPMorgan Chase Bank, dated December 27, 2019, for the original loan amount of $1,000,000. The note bears interest at a fixed rate of 6.01%. Monthly installments of principal and interest in the amount of $4,167 are payable beginning July 10, 2020. The note matures December 27, 2038 at which time all remaining principal and interest shall be due. The note is secured by the mortgage on the rental property. HOME note payable to Maricopa County, dated June 27, 2018, for the original loan amount of $300,000. This loan does not bear interest. The note matures July 1, 2048 at which time all remaining principal shall be due. The note is secured by a HOME program mortgage on the rental property. HOME note payable to Arizona Department of Housing, dated June 27, 2018, for the original loan amount of $335,742. The note bears simple interest at 3.05% annually beginning January 1, 2020. Annual installments of principal and interest are payable beginning June 1, 2021 and shall be paid in the amount greater of either $1,000 or surplus cash flow. The note matures June 1, 2050 at which time all remaining principal and interest shall be due. The note is secured by a HOME program mortgage on the rental property. Note payable to Orix Real Estate Capital, LLC, dated January 29, 2021, in the original principal amount of $5,600,000. The note bears interest at 4.8% and has a service fee of 0.09%. Monthly payments of principal and interest beginning in February 2022. The note matures January 1, 2038 at which time all remaining principal and interest shall be due. The note is secured by a mortgage on the rental property. Note payable to the Arizona Department of Housing dated October 31, 2018, in the original principal amount of $4,800,000. The note bears interest at 2.99%. Annual payments of principal and interest are payable beginning June 1, 2021, subject to cash flow. Interest begins to accrue beginning January 1, 2020. The note matures June 1, 2069 at which time all remaining principal and interest shall be due. On September 19, 2022, Norton C, LLC entered into a construction loan payable with BMO Harris Bank in the amount of $26,733,675. The loan requires monthly payments of interest only at a rate of SOFR plus 2.76% through maturity on July 30, 2024. 98 277,982 1,415,915 170,000 13,323,355 1,214,256 900,000 969,265 300,000 335,742 5,484,688 4,800,000 251,313 Notes to the Financial Statements (Continued) Annual debt service requirements to maturity are as follows: Year Ending June 30 2024 2025 2026 2027 2028 2029-2033 2024-2038 Total Principal $ 2,359,592 385,019 400,427 415,747 431,740 29,934,693 5,571,629 $39,498,847 99 100 Financial Section Required Supplementary Information Required Supplementary Information Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund Year Ended June 30, 2023 Variance With Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes Licenses and permits $ 645,025,131 $ 645,025,131 $ 658,345,858 $ 13,320,727 1,369,670 1,369,668 1,333,203 (36,465) Intergovernmental 1,057,099,350 1,057,120,872 1,143,895,499 86,774,627 Charges for services 61,917,343 61,917,255 58,119,319 (3,797,936) Fines and forfeits 9,234,301 9,234,398 11,500,070 2,265,672 Interest income 2,400,000 2,159,609 2,400,000 2,159,602 20,145,053 35,538,694 17,745,053 33,379,092 1,779,205,404 1,779,226,926 1,928,877,696 149,650,770 Assessor 29,949,650 31,651,207 30,921,396 729,811 Assistant County Manager 2,843,715 2,982,983 2,277,162 705,821 Board of Supervisors 2,498,775 2,636,815 2,435,510 201,305 County Call Center 3,191,018 3,297,714 3,109,149 188,565 Clerk of the Board 1,771,300 1,871,896 1,418,122 453,774 County Attorney 10,352,458 11,219,706 11,101,522 118,184 County Manager’s Office 3,507,934 3,602,871 2,987,471 615,400 Elections 39,088,247 39,445,791 31,328,258 8,117,533 Enterprise Technology 68,370,408 71,106,800 56,515,507 14,591,293 Equipment Services 2,198,009 2,198,013 1,982,401 215,612 Facilities Management 50,589,405 52,166,673 47,256,813 4,909,860 Human Resources 13,308,300 13,877,039 13,646,431 230,608 Internal Audit 2,542,234 2,713,249 2,423,050 290,199 113,768,247 77,076,553 (26,002,196) 103,078,749 Office of Budget and Finance 5,758,176 6,156,316 5,406,123 750,193 Procurement Services 2,807,965 2,979,221 2,639,745 339,476 Recorder 8,129,114 8,510,594 8,653,299 9,027,669 8,516,533 8,580,185 136,766 447,484 369,185,549 342,663,815 206,543,182 136,120,633 Adult Probation Clerk of Superior Court Constables 75,779,182 81,860,496 79,366,587 2,493,909 42,766,447 45,488,406 45,488,406 4,209,091 4,339,548 4,035,637 303,911 County Attorney 100,577,074 107,067,527 104,051,698 3,015,829 365,535 Miscellaneous Total revenues EXPENDITURES General government Non Departmental Treasurer Total general government Public safety Emergency Management 4,065,204 4,501,088 4,135,553 Equipment Services 14,291,330 10,472,714 10,121,077 351,637 Facilities Management 4,486,313 4,212,544 2,026,648 2,185,896 Justice Courts 24,377,792 26,063,038 24,124,283 1,938,755 Juvenile Probation 23,447,588 24,973,135 24,942,688 30,447 Legal Advocate 18,085,935 18,728,925 The notes to the budgetary comparison schedules are an integral part of this schedule. 18,293,907 435,018 (continued) 103 Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2023 Variance With Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) Public safety (cont.) Legal Defender Non Departmental $ 18,146,119 70,998,255 $ 17,680,319 36,743,339 $ 17,350,694 $ 329,625 11,310,383 25,432,956 Planning and Development 1,248,590 1,258,119 948,676 309,443 Public Advocate 12,199,989 12,927,069 12,587,708 339,361 Public Defender 53,817,910 56,004,618 55,585,338 419,280 Public Defense Services 48,296,444 52,040,859 50,347,217 1,693,642 Public Fiduciary 5,326,106 5,639,410 4,906,053 733,357 Sheriff Superior Court 170,277,184 124,372,854 816,769,407 186,491,128 138,707,072 835,199,354 182,879,221 124,443,185 776,944,959 3,611,907 14,263,887 58,254,395 127,734 127,734 64,280 63,454 1,096,656 1,096,656 1,096,656 945,259 945,259 945,259 Correctional Health 3,588,629 3,632,069 3,083,109 Environmental Services 12,830,110 13,148,585 13,148,036 549 Facilities Management 1,705,000 1,705,000 815,004 889,996 Total public safety Highways and Streets Transportation Health, welfare and sanitation Air Quality Animal Care and Control 548,960 Human Services 4,299,677 4,391,377 4,292,686 98,691 Medical Examiner 14,707,467 16,092,723 15,660,671 432,052 Non Departmental 318,415,164 18,074,797 329,611,760 19,180,780 325,137,120 19,111,428 4,474,640 69,352 375,662,759 389,804,209 383,289,969 6,514,240 861,313 861,313 861,313 3,122,927 2,963,395 3,250,434 2,816,604 3,049,321 Non Departmental 201,113 2,816,604 Total Education 6,086,322 6,067,038 3,049,321 3,017,717 1,568,693,084 1,574,723,463 1,370,753,024 203,970,439 210,512,320 204,503,463 558,124,672 353,621,209 Public Health Total health, welfare and sanitation Culture and recreation Parks and Recreation Education Superintendent of Schools Total expenditures Excess of revenues over expenditures The notes to the budgetary comparison schedules are an integral part of this schedule. 104 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2023 OTHER FINANCING SOURCES (USES) Financed Purchase Agreements $ Transfers in $ $ 15,868,435 $ 15,868,435 42,895,475 (937,227,803) 42,895,475 (931,218,946) 42,895,475 (882,498,765) 48,720,181 (894,332,328) (888,323,471) (823,734,855) 64,588,616 Net change in fund balances (683,820,008) (683,820,008) (265,610,183) 418,209,825 Fund balance, July 1, 2022 683,820,008 683,820,008 711,163,155 27,343,147 Transfers out Total other financing uses Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2023 $ 0 $ The notes to the budgetary comparison schedules are an integral part of this schedule. 105 0 $ 902,923 446,455,895 $ 902,923 446,455,895 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Coronavirus Fiscal Recovery Fund Year Ended June 30, 2023 Variance With Final Budget - Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 560,329,692 $ 560,329,692 $ Interest income Miscellaneous 152,530,075 $ (407,799,617) 12,051,600 49,052 12,051,600 49,052 560,329,692 560,329,692 164,630,727 (395,698,965) Assistant County Manager 22,000,000 62,483,128 16,913,904 45,569,224 County Manager 3,000,000 3,494,033 845,023 2,649,010 456,154 449,790 6,364 475,170 1,018,692 257,058 761,634 900,000 175,402 724,598 1,373,196 200,000 1,374,255 297,399 151,269 1,222,986 297,399 27,048,366 70,023,661 18,792,446 51,231,215 Adult Probation 961,358 230,716 730,642 Clerk of the Superior court 68,762 21,638 47,124 5,794,286 1,784,252 4,010,034 Total revenues EXPENDITURES General Government Elections Human Resources Non Departmental Office of Budget and Finance Procurement Services Total General Government Public Safety County Attorney 2,726,301 Emergency Management 95,200 94,801 84,885 9,916 10,000,000 10,000,000 1,312,521 8,687,479 449,153 199,525 249,628 Public Defense Services 2,564,297 3,101,910 1,875,246 1,226,664 Public Fiduciary 1,461,317 1,958,287 1,116,775 841,512 417,521 209,307 208,214 16,847,115 22,846,078 6,834,865 16,011,213 3,148,043 Non Departmental Juvenile Probation Public Advocate Sheriff Superior Court Total Public Safety Health, Welfare, and Sanitation Animal Care and Control 3,650,000 501,957 Correctional Health 14,909,225 12,154,043 2,755,182 318,216,263 63,115,280 255,100,983 Human Services 109,163,651 Medical Examiner 1,761,970 3,437,109 2,247,815 1,189,294 Non Departmental 356,812,231 43,060,888 21,944,973 83,618,364 (69) 46,197,261 21,945,042 37,421,103 510,798,740 445,775,934 124,216,287 321,559,647 5,635,471 21,684,019 2,605,774 19,078,245 560,329,692 560,329,692 152,449,372 407,880,320 12,181,355 12,181,355 12,181,355 (17,900,438) (5,719,083) 12,181,355 (19,098,120) (6,916,765) Public Health Total health, welfare and sanitation Culture and Recreation Parks and Recreation Total Expenditures Excess (deficiency) of revenues over expenditures Net Change in fund balance Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,197,682 1,197,682 $ 1,197,682 1,197,682 The notes to the budgetary comparison schedules are an integral part of this schedule 106 $ $ Maricopa County Required Supplementary Information Budgetary Comparison Schedule Detention Operations Fund Year Ended June 30, 2023 Variance With Final Budget - Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Taxes $ Intergovernmental Charges for services 241,952,016 $ 241,952,016 $ 28,269,424 4,000 (63,692) 17,324,695 17,324,695 20,900,744 3,576,049 7,001 7,001 1,004,272 1,004,272 4,097,970 169,959 3,093,698 169,959 260,348,675 260,348,675 295,401,114 35,052,439 480,135 Miscellaneous Total revenues $ 67,692 Fines & Forfeit Interest income 270,221,440 67,692 EXPENDITURES Public safety Adult Probation 46,077,918 47,373,231 46,893,096 Emergency Management 56,549 56,549 56,549 Enterprise Technology 1,254,460 1,582,500 1,226,926 355,574 Equipment Services 4,253,126 4,220,420 2,875,124 1,345,296 36,758,266 36,843,243 26,562,909 10,280,334 Facilities Management Integrated Criminal Justice Information Juvenile Probation 1,866,060 1,946,312 1,875,934 70,378 40,782,956 40,025,873 39,721,668 304,205 10,911,367 Non Departmental 35,152,276 11,177,260 265,893 Sheriff 263,612,437 276,688,489 258,885,565 17,802,924 429,814,048 419,913,877 378,363,664 41,550,213 80,079,609 83,643,982 78,846,847 4,797,135 308,059 314,788 278,824 35,964 510,201,716 503,872,647 457,489,335 46,383,312 (249,853,041) (243,523,972) (162,088,221) 81,435,751 Transfers in 257,819,938 251,490,869 204,638,511 (46,852,358) Transfers out (89,290,313) (89,290,313) Financed Purchase Agreements Total other financing sources (uses) (88,479,593) 1,585,008 810,720 1,585,008 168,529,625 162,200,556 117,743,926 (44,456,630) Net change in fund balances (81,323,416) (81,323,416) (44,344,295) 36,979,121 Fund balance, July 1, 2022 109,186,291 109,186,291 127,883,907 18,697,616 Total public safety Health, welfare, and sanitation Correctional health Education County School Superintendent Total expenditures Deficiency of revenues under expenditures OTHER FINANCING SOURCES (USES) Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2023 $ 27,862,875 $ 27,862,875 The notes to the budgetary comparison schedules are an integral part of this schedule 107 $ (444,827) 83,094,785 $ (444,827) 55,231,910 Maricopa County Required Supplementary Information Notes to Budgetary Comparison Schedules June 30, 2023 NOTE 1 – BUDGETING AND BUDGETARY CONTROL Arizona Revised Statutes (A.R.S.) require the County to prepare and adopt a balanced budget annually for each governmental fund. The Board of Supervisors must approve such operating budgets on or before the third Monday in July to allow sufficient time for the legal announcements and hearings required for the adoption of the property tax levy on the third Monday in August. A.R.S. prohibits expenditures or liabilities in excess of the amounts budgeted. Essentially, the County prepares its budget on the same modified accrual basis of accounting used to record actual revenues and expenditures. However, in the General Fund, Coronavirus Fiscal Recovery Fund, and Detention Operations Fund, the County records capital outlay and debt service expenditures by the expenditure function and department. The County has adopted budgets in accordance with the A.R.S. requirements for the General, Special Revenue, Debt Service, and Capital Projects Funds, with the exception of the following funds: Accommodation Schools, Children’s Issues Education, Coronavirus Relief, Emancipation Administrative Costs, Justice Courts Photo Enforcement, Street Lighting District, and the Special Improvement Districts funds. In accordance with GASB Statement No. 34, budgetary comparison schedules should be presented in the required supplementary information for only the General Fund and for each major Special Revenue Fund. Formal budget integration is not employed for the Internal Service Funds because effective budgetary control is alternatively achieved through capability of cost recovery. Budgeted amounts are reported as originally adopted and as amended by authorization from the Board of Supervisors. All budget adjustments with the exception of the Judicial Branch, which includes Adult Probation, Justice Courts, Juvenile Probation and Superior Court, require authorization from the Board of Supervisors. The Judicial Branch appropriations can be moved between the Judicial Branch departments by fund, as requested and approved by the Presiding Judge, without further Board approval. Budgeted appropriations include expenditures and transfers out. Expenditures and transfers out may not legally exceed appropriations at the department level. With the exception of the General Fund, Coronavirus Fiscal Recovery Fund, and the Detention Operations Fund, each fund includes only one department. NOTE 2 – BUDGETARY BASIS OF ACCOUNTING The County’s budget is prepared on a basis consistent with generally accepted accounting principles, except for the following unbudgeted item: • Present value of subscription payments The following schedule reconciles the excess (deficiency) of revenues over expenditures from the statement of revenues, expenditures, and changes in fund balances to the budgetary comparison schedules: Excess (deficiency) of revenues over expenditures from the statement of revenues, expenditures, and changes in fund balances Present value of subscription payments Excess (deficiency) of revenues over expenditure from the budgetary comparison schedules 108 General Fund 492,832,853 Detention Operations (163,696,481) (65,291,819) 558,124,672 (1,608,260) (162,088,221) 109 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability Cost-Sharing Plans June 30, 2023 Arizona State Retirement System Reporting fiscal year (measurement date) 2023 (2022) County's proportion of the net pension liability 2022 (2021) 2021 (2020) 2020 (2019) 2019 (2018) 4.9% 5.0% 5.0% 5.1% 4.9% County’s proportionate share of the net pension liability $792,447,087 $661,793,454 $859,913,468 $740,981,614 $687,946,426 County’s covered payroll $576,129,027 $ 564,459,191 $541,868,155 $515,839,976 $497,392,855 County’s proportionate share of the net pension liability as a percentage of its covered payroll 137.5% 117.2% 158.7% 143.6% 138.3% Plan fiduciary net position as a percentage of the total pension liability 74.3% 78.6% 69.3% 73.2% 73.4% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (measurement date) 2023 (2022) County's proportion of the net pension liability 2022 (2021) 2021 (2020) 2020 (2019) 2019 (2018) 59.5% 59.4% 60.2% 60.3% 58.9% County’s proportionate share of the net pension liability $265,556,033 $220,624,900 $287,527,851 $254,496,651 $212,174,173 County’s covered payroll $69,847,482 $ 69,971,380 $71,975,534 $71,052,917 $70,273,305 County’s proportionate share of the net pension liability as a percentage of its covered payroll 380.2% 315.3% 399.5% 358.2% 301.9% Plan fiduciary net position as a percentage of the total pension liability 57.5% 62.5% 50.1% 52.0% 53.7% Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2023 (2022) County's proportion of the net pension liability 2022 (2021) 2021 (2020) 2020 (2019) 2019 (2018) 26.1% 26.6% 31.0% 36.3% 26.1% County’s proportionate share of the net pension liability $176,018,707 $162,072,424 $209,046,481 $240,825,637 $164,732,203 State’s proportionate share of the net pension liability associated with the County 15,617,827 16,290,912 19,868,205 22,635,120 28,225,796 Total $191,636,534 $178,363,336 $228,914,686 $263,460,757 $192,957,999 County’s covered payroll $20,793,225 $20,745,477 $24,148,819 $32,728,218 $31,666,783 County’s proportionate share of the net pension liability as a percentage of its covered payroll 921.6% 859.8% 947.9% 805.0% 609.3% Plan fiduciary net position as a percentage of the total pension liability 32.0% 36.3% 29.8% 30.1% 30.4% 110 Arizona State Retirement System Reporting fiscal year (measurement date) 2018 (2017) 2017 (2016) 2016 (2015) 2014 (2013) Information not available 2015 (2014) 5.0% 5.1% 5.2% 5.1% $772,309,903 $825,659,181 $809,331,280 $748,436,636 $484,648,435 $477,764,920 $479,712,628 $457,944,565 159.4% 172.8% 168.7% 163.4% 69.9% 67.1% 68.4% 69.5% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (measurement date) 2018 (2017) 2017 (2016) 2016 (2015) 2014 (2013) Information not available 2015 (2014) 58.6% 58.5% 57.3% 56.0% $235,278,988 $165,172,262 $139,409,566 $125,717,900 $67,273,479 $66,943,949 $65,257,263 $61,821,694 349.7% 246.7% 213.6% 203.4% 49.2% 54.8% 57.9% 58.6% Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2018 (2017) 2017 (2016) 2016 (2015) 2014 (2013) Information not available 2015 (2014) 29.2% 32.1% 28.7% 28.0% $355,290,457 $303,669,813 $224,240,437 $187,488,213 115,022,979 62,699,965 69,908,836 57,485,628 $470,313,436 $366,369,778 $294,149,273 $244,973,841 $27,453,840 $27,158,658 $26,294,214 $25,707,192 1,713.1% 1,349% 1,119% 952.9% 19.7% 23.4% 28.3% 31.9% 111 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans June 30, 2023 PSPRS Sheriff Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) County’s net pension liability—ending (a) – (b) 2023 (2022) 2022 (2021) Reporting fiscal year (measurement date) 2021 (2020) $10,828,938 49,211,467 $11,059,714 47,638,139 $11,398,697 45,053,248 $ 13,413,866 42,374,413 5,965,460 7,252,576 (985,429) 10,266,804 9,575,440 10,594,310 28,743 (40,045,251) 33,213,190 683,323,376 $ 716,536,566 (31,813,158) 25,899,266 657,424,110 $ 683,323,376 (30,127,457) 36,591,292 620,832,818 $ 657,424,110 (28,677,092) 47,280,937 573,551,881 $ 620,832,818 (28,495,519) 22,985,971 550,565,910 $ 573,551,881 $ 75,342,368 4,877,182 (14,258,578) $ 32,250,070 4,921,073 76,130,066 $ 32,110,823 5,317,986 3,366,838 $ 31,940,779 5,603,052 13,212,001 $ (40,045,251) (257,162) 75,894 25,734,456 353,825,902 $ 379,560,358 (31,813,158) (356,981) 69,062 81,200,132 272,625,770 $353,825,902 (30,127,457) (274,575) 115,642 10,509,257 262,116,513 $ 272,625,770 (28,677,092) (230,325) 131,094 21,979,509 240,136,989 $ 262,116,498 (28,495,519) (238,381) 123,309 12,372,086 227,766,687 $ 240,138,773 $ 336,976,208 $ 329,497,474 $ 384,798,340 $ 358,716,320 $ 333,413,108 53.0% 51.8% 41.5% 42.2% 41.9% $ 51,125,113 $ 51,127,839 659.1% 644.5% Plan fiduciary net position as a percentage of the total pension liability Covered payroll County’s net pension liability as a percentage of covered payroll $ 51,773,513 $ 2020 (2019) 53,880,062 743.2% 2019 (2018) $ 11,345,423 40,107,324 20,021,150 5,345,050 15,616,477 $ 52,850,657 665.8% 630.9% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2023 (2022) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense $ 2022 (2021) 122,220 878,051 $ 2021 (2020) 147,509 903,873 $ 2020 (2019) 162,734 908,177 $ 2019 (2018) 385,172 902,532 $ 237,953 864,487 1,081,605 164,119 (171,625) (103,230) 79,273 95,767 5,143 (1,512,078) 733,917 12,661,911 $ 13,395,828 (904,330) (24,573) 12,686,484 $ 12,661,911 $ (1,118,476) (150,795) 12,837,279 12,686,484 (873,347) 589,397 12,247,882 12,837,279 (845,968) 261,615 11,986,267 12,247,882 $ $ $ 871,154 51,759 (493,854) (1,512,078) (8,921) 112 1,158,728 63,179 2,748,098 (904,330) (13,044) 1,361,887 90,787 120,018 (1,118,476) (9,789) $ $ 1,667,991 226,878 447,760 (873,347) (8,782) $ $ 1,124,841 126,880 486,062 (845,968) (8,098) 2018 (2017) $ PSPRS Sheriff Reporting fiscal year (measurement date) 2016 (2015) 2017 (2016) 8,569,277 32,648,223 $ 2014 (2013) Information not available) 13,198,618 36,942,782 4,589,857 $ 10,803,287 35,085,590 20,847,023 6,359,832 17,345,618 (12,732,697) 17,688,642 14,238,261 11,002,881 41,139,111 (27,683,840) 50,752,867 499,813,043 $ 550,565,910 (26,854,711) 44,837,134 454,975,909 $499,813,043 (24,192,292) 31,263,469 423,712,440 $454,975,909 (21,535,223) 73,457,137 350,255,303 $423,712,440 $ 25,052,855 6,587,195 23,760,529 $ 25,751,005 6,635,173 1,146,484 $ 19,300,393 5,718,569 6,829,419 $ 14,269,254 4,854,094 22,842,521 (27,683,840) (210,641) 109,523 27,615,621 200,151,066 $ 227,766,687 (26,854,711) (165,373) 65,796 6,578,374 193,572,692 $200,151,066 (24,192,292) (166,999) 60,926 7,550,016 186,022,676 $193,572,692 (21,535,223) (183,966) (319,075) 19,927,605 166,095,071 $186,022,676 $ 322,799,223 $299,661,977 $261,403,217 $237,689,764 41.4% 40.1% 42.6% 43.9% 55,883,688 $ 53,433,053 $ 50,323,844 $ 42,465,860 577.6% 560.8% 519.4% 559.7% $ $ 2015 (2014) 7,480,509 26,943,394 8,426,465 PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2018 (2017) $ $ 2017 (2016) 248,675 822,148 (23,853) $ 2016 (2015) 266,004 847,697 (118,749) $ 2015 (2014) 253,874 853,275 $ 2014 (2013) Information not available) 148,216 687,975 361,998 (72,143) 670,559 (262,824) 344,143 (324,461) 406,452 1,360,402 (993,510) 651,876 11,334,391 11,986,267 (815,133) 261,138 11,073,253 11,334,391 (904,489) (121,801) 11,195,054 11,073,253 (919,786) 2,045,257 9,149,797 11,195,054 $ 1,461,247 145,186 686,868 $ $ 1,398,933 217,009 29,781 $ $ 1,077,456 147,013 162,028 $ $ 875,484 175,233 508,376 (993,510) (815,133) (904,489) (919,786) (6,478) (4,685) (4,332) (4,094) 113 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2023 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2023 (2022) 2022 (2021) $ 3,052,631 9,670,127 12,722,758 $ (60,847) Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) $ (1,091,940) 12,722,758 11,630,818 County’s net pension liability (asset)—ending (a) – (b) $ 1,765,010 Plan fiduciary net position as a percentage of the total pension liability Covered payroll County’s net pension liability as a percentage of covered payroll 3,998,660 $ 3,016,357 100.5% 86.8% $ $ 2021 (2020) (46,523) 397,904 9,272,223 9,670,127 $ 4,079,047 $ 90 883,807 6,869,957 7,753,764 $ 3,565,056 $ 4,494,118 76.2% $ -1.5% 44.1% $ 2020 (2019) 58,955 1,519,455 7,752,768 9,272,223 4,041,539 74.6% 2019 (2018) 72.2% $ 4,029,625 63.3% $ 3,798,904 88.5% 118.3% CORP Detention 2023 (2022) Total pension liability Service cost Interest on the total pension liability Changes of benefit terms Differences between expected and actual experience in the measurement of the pension liability Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability—beginning Total pension liability—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) County’s net pension liability—ending (a) – (b) $ $ County’s net pension liability as a percentage of covered payroll 12,296,461 47,691,387 $ $ 13,394,907 41,607,029 $ 15,808,183 37,503,283 2019 (2018) $ 16,078,305 37,311,464 (28,640,732) (2,656,331) 26,630,427 21,019,595 14,587,736 (6,990,041) (29,062,286) 54,014,542 655,541,347 709,555,889 (26,951,740) 29,375,733 626,165,614 655,541,347 (24,062,285) 57,570,078 568,595,536 626,165,614 (22,632,403) 66,286,394 502,309,142 568,595,536 (23,239,350) (5,480,354) 507,789,496 $ 502,309,142 24,898,466 8,014,183 7,914,882 $ 25,575,779 8,168,768 14,832,150 $ (22,632,403) (265,412) (70,685) 25,608,197 267,519,929 $ 293,128,126 (23,239,350) (269,599) (177,534) 20,598,735 246,921,194 $ 267,519,929 38,595,842 7,408,812 (15,108,809) $ $ 304,920,251 $ 100,538,722 303.3% 114 29,396,714 7,487,182 84,644,735 $ 18,023,723 8,487,865 17,773,630 $ (26,951,740) (389,231) (280,273) 93,907,387 309,256,038 403,163,425 $ (24,062,285) (306,335) (190,683) 16,268,228 292,987,810 309,256,038 $ 252,377,922 $ 316,909,576 $ 275,467,410 $ 234,789,213 49.4% 51.6% 53.3% 99,862,066 $ 92,198,723 $ 104,307,731 317.3% 298.8% 225.1% 57.0% $ 13,287,468 45,696,336 2020 (2019) 14,492,259 8,596,721 (29,062,286) (277,196) (84,150) 1,472,213 403,163,425 404,635,638 Plan fiduciary net position as a percentage of the total pension liability Covered payroll 2022 (2021) Reporting fiscal year (Measurement date) 2021 (2020) 61.5% $ 102,944,404 245.2% $ PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2018 (2017) 2017 (2016) $ 77 1,293,390 5,576,567 6,869,957 $ 5,116,310 $ 32 825,937 4,750,630 5,576,567 $ 5,757,824 57.3% $ 3,636,066 $ 3,893,987 $ $ $ $ 6,322,623 $ 6,918,459 42.9% $ 3,247,944 $ $ 3,313,690 194.7% 208.8% CORP Detention Reporting fiscal year (Measurement date) 2016 (2015) 14,204,315 29,393,196 1,084,506 $ 14,287,455 27,839,448 2015 (2014) $ 13,157,787 22,915,599 4,251,385 (11,595,604) 16,921,282 (3,602,883) 10,839,392 27,217,502 (20,850,551) 100,952,380 406,837,116 507,789,496 (21,008,081) 28,999,614 377,837,502 406,837,116 (16,370,870) 22,153,150 355,684,352 377,837,502 (16,073,751) 62,307,914 293,376,438 355,684,352 16,136,049 8,227,293 26,109,497 $ $ 260,868,302 $ $ $ (21,008,081) (186,382) (95,749) 4,194,729 213,591,979 217,786,708 $ 189,050,408 48.6% 106,256,020 245.5% 15,892,539 8,277,119 1,315,283 $ $ 12,465,970 8,470,324 7,511,442 $ 105,470,072 $ $ 11,963,290 8,207,931 24,337,934 $ (16,370,870) (185,964) (101,256) 11,789,646 201,802,333 213,591,979 $ (16,073,751) (191,360) (72,076) 28,171,968 173,630,365 201,802,333 $ 164,245,523 $ 153,882,019 53.5% 56.5% $ 104,462,671 179.2% 157.2% 115 Information not available 38.2% (4,519,288) 9,430,261 (20,850,551) (228,785) (259,017) 29,134,486 217,786,708 246,921,194 $ $ 2017 (2016) 15,050,195 30,295,270 71,546,493 2014 (2013) 68,762 703,975 3,572,620 4,276,595 147.9% 2018 (2017) 2015 (2014) (3,641) 474,035 4,276,595 4,750,630 49.2% 140.7% $ 2016 (2015) 56.7% $ 99,925,573 154.0% 2014 (2013) Information not available Maricopa County Required Supplementary Information Schedule of County Pension Contributions June 30, 2023 Reporting fiscal year 2023 Arizona State Retirement System Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) $ $ PSPRS Attorney Investigators Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) CORP Detention Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered payroll County’s contributions as a percentage of covered payroll 62,456,719 $ 57,600,648 57,600,648 $ 515,839,976 12.0% 12.0% 11.7% 11.5% 11.2% 28,010,281 $ 24,781,102 $ 24,781,102 $ 23,387,516 $ 23,387,516 $ 22,028,084 $ 22,028,084 $ 22,666,439 22,666,439 $ 76,270,536 69,847,482 69,971,380 71,975,534 71,052,917 36.7% 35.5% 33.4% 30.6% 31.9% 14,453,145 $ 11,698,854 $ 11,698,854 $ 11,847,708 $ 11,847,708 $ 14,032,510 $ 14,032,510 $ 16,310,970 16,310,970 $ 22,055,983 20,793,225 20,745,477 24,148,819 32,728,218 65.5% 56.3% 57.1% 58.1% 49.8% $ 192,463,746 $ (150,000,000) $ 75,515,494 (40,000,000) $ 32,428,673 $ 32,428,673 32,315,977 $ 32,315,977 $ 30,654,710 30,654,710 $ 55,359,714 51,125,113 51,127,839 51,773,513 53,880,062 347.7% 147.7% 63.4% 62.4% 56.9% 573,138 $ 573,138 $ $ $ 541,868,155 35,515,494 County’s covered payroll County’s contributions as a percentage of covered payroll 62,459,719 564,459,191 $ $ $ 65,899,776 $ 42,463,746 County’s covered payroll County’s contributions as a percentage of covered payroll 65,899,776 2019 576,129,027 14,453,145 $ $ 2020 657,265,286 $ County’s covered payroll County’s contributions as a percentage of covered payroll 69,406,359 69,406,359 28,010,281 $ 2021 $ $ County’s covered payroll County’s contributions as a percentage of covered payroll PSPRS Sheriff Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) $ 78,849,856 County’s contributions as a percentage of covered payroll Elected Officials Retirement Plan Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) 78,849,856 $ County’s covered payroll Corrections Officer Retirement Plan— Administrative Office of the Courts Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) 2022 881,544 $ 881,544 $ 1,169,393 $ 1,169,393 $ 1,377,237 $ 1,377,237 $ 1,622,619 1,622,619 $ 4,872,826 3,998,660 4,079,047 4,041,539 4,029,625 11.8% 22.0% 28.7% 34.1% 40.3% 29,717,777 $ 28,694,520 $ 139,717,777 $ (110,000,000) $ 38,694,520 (10,000,000) $ 29,517,195 $ 29,517,195 25,084,557 $ 25,084,557 $ 24,700,209 24,700,209 $ 98,368,264 100,538,722 102,944,404 99,862,066 92,198,723 142.0% 38.5% 28.7% 25.1% 26.8% See accompanying notes to the pension plan schedules 116 Reporting fiscal year 2018 $ 2017 52,884,110 $ 52,884,110 $ $ 52,137,019 $ 52,137,019 $ $ $ $ 52,096,273 $ 48,882,491 48,882,491 $ 479,712,628 457,944,565 10.6% 10.8% 10.8% 10.9% 10.7% 15,669,281 $ 13,204,078 $ 13,204,078 $ 12,319,262 $ 12,319,262 $ 9,496,405 $ 9,496,405 $ 8,712,921 8,712,921 $ 70,273,305 67,273,479 66,943,949 65,257,263 61,821,694 22.3% 19.6% 18.4% 14.6% 14.1% 6,542,613 $ 6,542,613 6,159,790 $ $ 6,065,753 $ 6,065,753 $ 6,033,621 $ 6,033,621 $ 5,957,431 5,957,431 $ 31,666,783 27,453,840 27,158,658 26,294,214 25,707,192 0.0% 22.4% 22.3% 22.9% 23.2% 28,038,980 $ 7,761,662 25,010,275 $ 25,010,275 $ 25,739,331 $ 25,739,331 $ 18,736,372 $ 18,736,372 $ 14,269,254 14,269,254 $ 52,850,657 55,883,688 53,433,053 50,323,844 42,465,860 38.4% 44.8% 48.2% 37.2% 33.6% 1,223,363 $ 1,104,357 $ 52,096,273 477,764,920 20,277,318 $ $ 51,696,840 $ 6,159,790 $ 51,696,840 2014 484,648,435 15,669,281 $ 2015 497,392,855 $ $ 2016 119,006 1,461,227 $ 1,461,227 $ 1,399,472 $ 1,399,472 $ 1,052,103 $ 1,052,103 $ 875,484 875,484 $ 3,798,904 3,636,066 3,893,987 3,247,944 3,313,690 29.1% 40.2% 35.9% 32.4% 26.4% 18,380,097 $ 18,380,097 $ 16,132,787 $ 16,132,787 $ 15,896,136 $ 15,896,136 $ 12,444,879 $ 12,444,879 $ 11,963,290 11,963,290 $ 104,307,731 106,256,020 105,470,072 104,462,671 99,925,573 17.6% 15.2% 15.1% 11.9% 12.0% 117 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) Cost-Sharing Plans June 30, 2023 Arizona State Retirement System Health Insurance Premium Benefit Reporting fiscal year (Measurement date) 2023 (2022) County's proportion of the net OPEB (asset) 2022 (2021) 2021 (2020) 2020 (2019) 2019 (2018) 4.9% 5.1% 5.0% 5.1% 4.9% County’s proportionate share of the net OPEB (asset) $(27,462,651) $(24,833,681) $(3,555,865) $(1,418,008) $(1,784,004) County’s covered payroll 576,129,027 564,459,191 541,868,155 515,839,976 497,392,855 -4.8% -4.4% -0.7% -0.3% -0.4% 137.8% 130.2% 104.3% 101.6% 102.0% County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total OPEB (asset) Arizona State Retirement System Long Term Disability Reporting fiscal year (Measurement date) 2023 (2022) County's proportion of the net OPEB liability County’s proportionate share of the net OPEB liability 2022 (2021) 4.9% 2021 (2020) 5.1% 2020 (2019) 5.0% 2019 (2018) 5.1% 4.8% $450,464 $1,045,980 $3,787,937 $3,326,276 $2,501,068 576,129,027 564,459,191 541,868,155 515,839,976 497,392,855 County’s proportionate share of the net OPEB liability as a percentage of its covered payroll 0.1% 0.2% 0.7% 0.6% 0.5% Plan fiduciary net position as a percentage of the total OPEB liability 95.4% 90.4% 68.0% 72.9% 78.0% County’s covered payroll Corrections Officer Retirement Plan—Administrative Office of the Courts Health Insurance Premium Benefit Reporting fiscal year (Measurement date) 2023 (2022) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) County’s covered payroll 59.7% 2021 (2020) 2020 (2019) 2019 (2018) 59.8% 60.1% 60.4% 59.0% $225,458 $(80,050) $2,366,417 $2,237,439 $3,031,501 69,847,480 69,971,380 71,975,534 71,052,917 70,273,305 0.3% -0.1% 3.3% 3.1% 4.3% 97.5% 100.9% 75.1% 75.6% 67.8% County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total OPEB (asset) 2022 (2021) Elected Officials Retirement Plan Health Insurance Premium Benefit Reporting fiscal year (Measurement date) 2023 (2022) County's proportion of the net OPEB (asset) 2022 (2021) 2021 (2020) 2020 (2019) 2019 (2018) 27.2% 27.7% 27.2% 26.3% 26.6% County’s proportionate share of the net OPEB (asset) $(3,496,249) $(4,412,052) $(2,596,295) $(2,580,436) $(2,744,218) County’s covered payroll 20,793,225 20,745,477 24,148,819 32,728,218 31,666,783 County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll -16.8% -21.3% -10.8% -7.9% -8.7% Plan fiduciary net position as a percentage of the total OPEB (asset) 198.4% 231.3% 169.9% 169.7% 177.2% 118 Arizona State Retirement System Reporting fiscal year (Measurement date) 2018 (2017) 5.0% $(2,706,073) 2017 (2016) 2016 (2015) 2015 (2014) 2014 (2013) Information not Information not Information not Information not available available available available 484,648,435 -0.6% 104.0% Arizona State Retirement System Reporting fiscal year (Measurement date) 2018 (2017) 5.0% $1,801,437 2017 (2016) 2016 (2015) 2015 (2014) 2014 (2013) Information not Information not Information not Information not available available available available 484,648,435 0.4% 84.4% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (Measurement date) 2018 (2017) 58.6% $3,448,306 2017 (2016) 2016 (2015) 2015 (2014) 2014 (2013) Information not Information not Information not Information not available available available available 67,273,479 5.1% 62.2% Elected Officials Retirement Plan Reporting fiscal year (Measurement date) 2018 (2017) 26.3% $(2,396,932) 2017 (2016) 2016 (2015) 2015 (2014) 2014 (2013) Information not Information not Information not Information not available available available available 27,453,840 -8.7% 164.8% 119 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios Agent Plans June 30, 2023 PSPRS Sheriff Health Insurance Premium Benefit 2023 (2022) Total OPEB liability (asset) Service cost Interest on the total OPEB liability (asset) Changes of benefit terms Differences between expected and actual experience in the measurement of the OPEB liability (asset) Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total OPEB liability (asset) Total OPEB liability (asset)—beginning Total OPEB liability (asset)—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions 2022 (2021) Reporting fiscal year (Measurement date) 2021 (2020) 2020 (2019) 2019 (2018) $243,944 612,792 $256,628 642,497 $263,604 651,631 $185,032 751,490 $179,532 730,031 (427,235) 160,898 (943,526) (555,985) (2,057,940) 75,429 (308,723) (356,146) 234,253 8,328,541 8,562,794 (343,513) (387,914) 8,716,455 8,328,541 (370,022) (10,772) 8,727,227 8,716,455 (394,040) (1,440,029) 10,167,256 8,727,227 (418,196) 182,644 9,984,612 10,167,256 27,491 27,491 (689,438) 19,755 19,755 3,842,402 12,205 12,205 178,224 5,848 5,848 740,112 1,783 919,060 Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Adjustments to beginning of year Plan fiduciary net position—ending (b) (356,146) (12,273) (343,513) (15,799) (370,022) (14,494) (394,040) (12,775) (1,002,875) 17,506,371 3,522,600 13,983,771 (181,882) 14,165,653 16,503,496 17,506,371 13,983,771 344,993 13,818,876 1,784 14,165,653 County’s net OPEB liability (asset)—ending (a) – (b) (7,940,702) (9,177,830) (5,267,316) (5,438,426) (3,651,620) 192.7% 210.2% 160.4% 162.3% 135.9% 51,125,113 51,127,839 51,773,513 53,880,062 52,850,657 -10.1% -6.9% Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll County’s net OPEB liability (asset) as a percentage of covered payroll -15.5% -18.0% -10.2% PSPRS Attorney Investigators Health Insurance Premium Benefit Total OPEB liability (asset) Service cost Interest on the total OPEB liability (asset) Changes of benefit terms Differences between expected and actual experience in the measurement of the OPEB liability (asset) Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total OPEB liability (asset) Total OPEB liability (asset)—beginning Total OPEB liability (asset)—ending (a) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense 2023 (2022) 2022 (2021) Reporting fiscal year (Measurement Date) 2021 (2020) 2020 (2019) (418,196) (13,988) (1) 488,658 13,330,218 13,818,876 2019 (2018) $3,633 12,394 $4,704 16,121 $5,256 16,463 $5,536 16,634 $5,741 15,848 (20,871) 2,174 (59,285) (10,233) (10,992) (306) (2,199) (11,790) (14,460) 172,049 157,589 (11,234) (49,694) 221,743 172,049 (13,915) (2,429) 224,172 221,743 (11,908) (1,036) 225,208 224,172 (10,941) 8,449 216,759 225,208 1,186 1,524 1,665 637 (12,816) 72,298 3,419 14,422 18,039 (11,790) (228) (11,234) (297) (13,915) (278) (11,908) (249) (10,941) (275) 120 2018 (2017) $203,633 757,348 39,752 2017 (2016) PSPRS Sheriff Reporting fiscal year (Measurement date) 2016 (2015) 2015 (2014) 2014 (2013) Information not available Information not available Information not available Information not available (506,183) (308,611) (394,962) (209,023) 10,193,635 9,984,612 1,429,164 (394,962) (12,645) 1,021,557 12,308,661 13,330,218 (3,345,606) 133.5% 55,883,688 -6.0% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2018 (2017) 2017 (2016) Information not available 2016 (2015) Information not available $5,224 14,545 7,859 1,348 2,096 (11,263) 19,809 196,950 216,759 1,735 28,292 (11,263) (251) 121 2015 (2014) Information not available 2014 (2013) Information not available Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios Agent Plans (Continued) June 30, 2023 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2023 (2022) Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Adjustments to beginning of year Plan fiduciary net position—ending (b) County’s net OPEB liability (asset)—ending (a)–(b) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll County’s net OPEB liability (asset) as a percentage of covered payroll 2022 (2021) (24,834) 327,969 61,953 266,016 (9,250) 275,266 303,135 327,969 (145,546) 2019 (2018) 7,460 262,881 266,016 (155,920) (44,273) (51,094) (45,133) 192.4% 190.6% 120.0% 122.8% 120.0% 3,998,660 4,079,047 4,041,539 4,029,625 3,798,904 -3.6% -3.8% -1.1% -1.3% -1.2% CORP Detention 2023 (2022) Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position—ending (b) 2020 (2019) 3,930 270,341 995 275,266 Health Insurance Premium Benefit Total OPEB liability (asset) Service cost Interest on the total OPEB liability (asset) Changes of benefit terms Differences between expected and actual experience in the measurement of the OPEB liability (asset) Changes of assumptions or other inputs Benefit payments, including refunds of employee contributions Net change in total OPEB liability (asset) Total OPEB liability (asset)—beginning Total OPEB liability (asset)—ending (a) 2021 (2020) 2022 (2021) Reporting fiscal year (Measurement date) 2021 (2020) 2020 (2019) 270,341 2019 (2018) $224,700 820,808 $243,057 831,418 $278,738 788,668 $207,271 851,107 $217,141 799,775 (191,102) 156,759 (840,089) (110,824) (1,690,768) 162,454 (133,617) (368,406) 642,759 11,203,449 11,846,208 (354,349) (119,963) 11,323,412 11,203,449 (316,218) 640,364 10,683,048 11,323,412 (282,391) (752,327) 11,435,375 10,683,048 (294,249) 589,050 10,846,325 11,435,375 19,113 (829,910) 4,818,560 495,897 930,067 1,167,804 (368,406) (14,908) (354,349) (19,833) (316,218) (19,192) (282,391) (16,598) (1,213,224) 22,401,511 21,188,287 4,444,378 17,957,133 22,401,511 160,487 17,796,646 17,957,133 631,078 17,165,568 17,796,646 (294,249) (17,668) 1 875,001 16,290,567 17,165,568 County’s net OPEB liability (asset)—ending (a)–(b) (9,342,079) (11,198,062) (6,633,721) (7,113,598) (5,730,193) Plan fiduciary net position as a percentage of the total OPEB liability (asset) 178.9% 200.0% 158.6% 166.6% 150.1% 100,538,722 102,944,404 99,862,066 92,198,723 104,307,731 -9.3% -10.9% -6.6% -7.7% -5.5% Covered payroll County’s net OPEB liability (asset) as a percentage of covered payroll 122 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2018 (2017) 2017 (2016) Information not available 2016 (2015) Information not available 2015 (2014) Information not available 2014 (2013) Information not available 2017 (2016) Information not available CORP Detention (continued) Reporting fiscal year (Measurement date) 2016 (2015) Information not available 2015 (2014) Information not available 2014 (2013) Information not available 18,513 244,368 262,881 (46,122) 121.3% 3,636,066 -1.3% 2018 (2017) $280,318 906,839 (415,167) (1,736,587) (280,215) (1,244,812) 12,091,137 10,846,325 19,464 1,746,674 (280,215) (15,278) 1,470,645 14,819,922 16,290,567 (5,444,242) 150.2% 106,256,020 -5.1% 123 Maricopa County Required Supplementary Information Schedule of County OPEB Contributions June 30, 2023 Reporting fiscal year 2023 Arizona State Retirement System-Health insurance premium benefit Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) $ County’s covered payroll County’s contributions as a percentage of covered payroll PSPRS Sheriff-Health insurance premium benefit Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered payroll County’s contributions as a percentage of covered payroll PSPRS Attorney Investigators-Health insurance premium benefit Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered payroll County’s contributions as a percentage of covered payroll CORP Detention-Health insurance premium benefit Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) County’s covered payroll County’s contributions as a percentage of covered payroll $ 720,234 1,200,513 911,366 1,086,401 262,291 0.2% 262,291 $ $ 309,297 309,297 $ 2,331,974 2,331,974 $ 564,459,191 541,868,155 515,839,976 0.4% 0.5% 0.5% 1,004,892 $ 911,102 $ 911,102 $ 808,790 808,790 $ 564,459,191 541,868,155 515,839,976 0.2% 0.2% 0.2% 344,659 $ 344,659 $ 369,810 $ 369,810 $ 380,835 380,835 $ 69,847,482 69,971,380 71,975,534 71,052,917 0.3% 0.4% 0.5% 0.5% 0.5% 8,252 $7,366 $5,732 17,011 $ 12,743 17,011 $ 12,743 $ 8,252 $ 7,366 $ 5,732 $ 55,359,714 51,125,113 51,127,839 51,773,513 53,880,062 0.0% 0.0% 0.0% 0.0% 0.0% 236 $ 146 236 $ $ $ 76,270,536 $ $ $ 2,630,535 2,630,535 1,004,892 576,129,027 $ $ 2019 $ $ 0.1% $ $ 1,086,401 $ 657,265,286 2,178,142 2,178,142 0.2% $ 2020 $ 576,129,027 911,366 $ $ 1,200,513 0.1% $ 2021 $ 657,265,286 County’s contributions as a percentage of covered payroll County’s covered payroll County’s contributions as a percentage of covered payroll CORP AOC-Health insurance premium benefit Statutorily determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) 720,234 $ County’s covered payroll Arizona State Retirement System-Long term disability Statutorily required contribution County’s contributions in relation to the statutorily required contribution County’s contribution deficiency (excess) 2022 $ 146 $ 1,264 $ 1,264 $ 1,671 $ 1,671 $ 1,855 1,855 $ 4,872,826 3,998,660 4,079,047 4,041,539 4,029,625 0.0% 0.0% 0.0% 0.0% 0.0% 0 $ 0 0 $ $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 0 $ 98,368,264 100,538,722 102,944,404 99,862,066 92,198,723 0.0% 0.0% 0.0% 0.0% 0.0% The County was not required and did not contribute to the EORP health insurance premium benefit plan for fiscal years 2023 through 2017. 124 Reporting fiscal year 2018 $ 2017 2,112,434 $ 2,112,434 $ Information not Information not Information not 2,689,215 available available available 0.4% 0.6% $751,326 $667,849 667,849 $ 497,392,855 484,648,435 0.2% 0.1% 577,671 $ 577,671 525,994 525,994 $ 70,273,305 67,273,479 0.8% 0.8% 1,377 $ 1,377 $ 0 0 $ 52,850,657 55,883,688 0.0% 0.0% 1,546 $ 1,546 $ $ 2,689,215 484,648,435 $ $ 2014 $ 751,326 $ 2015 497,392,855 $ $ 2016 1,735 1,735 $ 3,798,904 3,636,066 0.0% 0.0% 19,491 $ 19,491 $ 19,437 19,437 $ 104,307,731 106,256,020 0.0% 0.0% 125 Maricopa County Required Supplementary Information Notes to Pension/OPEB Plan Schedules Year Ended June 30, 2023 NOTE 1 – ACTUARIALLY DETERMINED CONTRIBUTION RATES Actuarial determined contribution rates for PSPRS and CORP are calculated as of June 30 2 years prior to the end of the fiscal year in which contributions are made. The actuarial methods and assumptions used to establish the contribution requirements are as follows: Actuarial cost method Amortization method Remaining amortization period as of the 2021 actuarial valuation Asset valuation method Actuarial assumptions: Investment rate of return Projected salary increases Wage growth Retirement age Mortality Entry age normal PSPRS members with initial membership date before July 1, 2017, and CORP members with initial membership date before July 1, 2018: Level percent-of-pay, closed PSPRS members with initial membership on or after July 1, 2017: Level dollar closed PSPRS members with initial membership date before July 1, 2017, and CORP members with initial membership date before July 1, 2018: 16 years PSPRS members with initial membership on or after July 1, 2017: 10 years PSPRS members with initial membership date before July 1, 2017, and CORP members with initial membership date before July 1, 2018: 7-year smoothed fair value; 80%/120% market corridor PSPRS members with initial membership on or after July 1, 2017: 5-year smoothed fair value; 80%/120% market corridor PSPRS members with initial membership date before July 1, 2017, and CORP members with initial membership date before July 1, 2018: In the 2019 actuarial valuation, the investment rate of return was decreased from 7.4% to 7.3%. In the 2016 actuarial valuation, the investment rate of return was decreased from 7.85% to 7.5%. In the 2013 actuarial valuation, the investment rate of return was decreased from 8.0% to 7.85%. PSPRS members with initial membership dates on or after July 1, 2017: 7% In the 2017 actuarial valuation, projected salary increases were decreased from 4.0%–8.0% to 3.5%–7.5% for PSPRS and from 4.0%– 7.25% to 3.5%–6.5% for CORP. In the 2014 actuarial valuation, projected salary increases were decreased from 4.5%–8.5% to 4.0%–8.0% for PSPRS and from 4.5%–7.75% to 4.0%–7.25% for CORP. In the 2013 actuarial valuation, projected salary increases were decreased from 5.0%–9.0% to 4.5%–8.5% for PSPRS and from 5.0%–8.25% to 4.5%– 7.75% for CORP. In the 2017 actuarial valuation, wage growth was decreased from 4.0% to 3.5% for PSPRS and CORP. In the 2014 actuarial valuation, wage growth was decreased from 4.5% to 4.0% for PSPRS and CORP. In the 2013 actuarial valuation, wage growth was decreased from 5.0% to 4.5% for PSPRS and CORP. Experience-based table of rates that is specific to the type of eligibility condition. Last updated for the 2012 valuation pursuant to an experience study of the period July 1, 2006–June 30, 2011. In the 2019 actuarial valuation, changed to PubS-2010 tables. In the 2017 actuarial valuation, changed to RP-2014 tables, with 75% of MP-2016 fully generational projection scales. RP-2000 mortality table (adjusted by 105% for both males and females) 126 Maricopa County Required Supplementary Information Notes to Pension/OPEB Plan Schedules (Continued) Year Ended June 30, 2023 NOTE 2 – FACTORS THAT AFFECT TRENDS Arizona courts have ruled that provisions of a 2011 law that changed the mechanism for funding permanent pension benefit increases and increased employee pension contribution rates were unconstitutional or a breach of contract because those provisions apply to individuals who were members as of the law’s effective date. As a result, the PSPRS, CORP, CORP–AOC, and EORP changed benefit terms to reflect the prior mechanism for funding permanent benefit increases for those members and revised actuarial assumptions to explicitly value future permanent benefit increases. PSPRS and EORP also reduced those members’ employee contribution rates. These changes are reflected in the plans’ pension liabilities for fiscal year 2015 (measurement date 2014) for members who were retired as of the law’s effective date and fiscal year 2018 (measurement date 2017) for members who retired or will retire after the law’s effective date. These changes also increased the PSPRS-, CORP-, and CORP–AOC required pension contributions beginning in fiscal year 2016 for members who were retired as of the law’s effective date. These changes increased the PSPRS-, CORP-, and CORP–AOC required contributions beginning in fiscal year 2019 for members who retired or will retire after the law’s effective date. EORP-required contributions are not based on actuarial valuations, and therefore, these changes did not affect them. Also, the County refunded excess employee contributions to PSPRS and EORP members. PSPRS and EORP allowed the County to reduce its actual employer contributions for the refund amounts. As a result, the County’s pension contributions were less than the actuarially or statutorily determined contributions for 2018. The fiscal year 2019 (measurement date 2018) pension liabilities for EORP and CORP reflect the replacement of the permanent benefit increase (PBI) for retirees based on investment returns with a cost of living adjustment based on inflation. Also, the EORP liability and required pension contributions for fiscal year 2019 reflect a statutory change that requires the employer contribution rate to be actuarially determined. This change increased the discount rate used to calculate the liability thereby reducing the total pension liability. 127 Maricopa County Required Supplementary Information Modified Approach for Infrastructure Assets Year Ended June 30, 2023 Condition Rating of Maricopa County Roadway System Percentage of Centerline Miles ≥ 60 Roadway System Percentage of Centerline Miles in Very Good or Excellent Condition (70-100) FY 2023 79% FY 2022 46% Percentage of Centerline Miles < 40 Roadway System FY 2021 76% FY 2020 80% FY 2019 85% Percentage of Centerline Miles in Substandard Condition (< 55) FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 4% 13% 3% 4% 5% Comparison of Estimated to Actual Maintenance/Preservation FY 2023 FY 2022 FY 2021 FY 2020 FY 2019 Estimated $ 29,587,144 $ 16,909,150 $ 17,771,127 $ 15,171,864 $ 24,011,356 Actual $ 25,383,525 $ 30,078,267 $ 21,800,666 $ 18,345,252 $ 19,705,496 The condition of road pavement is measured and managed using the Maricopa County Department of Transportation (MCDOT) asset management software, Cartegraph OMS, which is based on weighted averages of pavement surface distress factors. The Cartegraph system uses a measurement scale to evaluate the Overall Condition Index (OCI) ranging from zero for a failed pavement to 100 for a pavement in perfect condition. The OCI is used to classify road condition as Very Good (90-100), Good (75-90), Fair (60-75), Poor (40-60) and Very Poor (<40). As of FY 2023, it is the County’s policy, to maintain at least 75% of the centerline miles with an OCI greater than or equal to 60 and no more than 5% of centerline miles with OCI less than 40. In FY 2022, new inspection protocols were implemented that provide a more comprehensive and robust inspection process that incorporates a quality assurance system that helps ensure consistent and repeatable inspections. Although the County’s actual pavement conditions did not significantly change, the ratings decreased in FY 2022 as a result of the more comprehensive inspection process. Therefore, it was necessary to revise the County’s condition goals to reflect changes to the inspection system. However, as the County did not change its process for maintaining roads and is in compliance with the condition ratings, no additional funding is required to maintain the updated condition ratings. Pavement condition assessments are determined annually for all arterial roads and approximately one-half of the local roads are inspected annually, except in FY 2022 and FY 2023 when all segments were inspected to create a baseline for the new inspection protocols. Condition Rating of Maricopa County Bridge System Percentage of Bridges ≥ 5 Bridge System FY 2023 100% FY 2022 100% Percentage of Bridges ≥70 FY 2021 100% FY 2020 100% FY 2019 100% Comparison of Estimated to Actual Maintenance/Preservation Estimated Actual FY 2023 $ 3,206,000 $ 4,868,019 FY 2022 $ 2,082,250 $ 2,943,651 FY 2021 $ 1,437,500 $ 1,708,273 FY 2020 $ 1,590,000 $ 4,224,795 FY 2019 $ 2,088,000 $ 2,613,282 The condition of the County’s bridges/structures is determined using the MCDOT bridge inspection program that follows federal mandates and regulations. The Federal Highway Administration (FHWA) National Bridge Inspections Standards scale uses a 0 to 9 scale to classify bridges as Good (7-9), Fair (5-6), or Poor (0-4). Prior to fiscal year 2020, the bridge sufficiency rating 0 to 100 numeric scale was used. It is the County’s policy that 90% of bridges and minor concrete box structures have a condition rating of 5 or greater. All Federal bridges are inspected every two years (approximately onehalf of the Federal bridges are inspected annually) and all Non-Federal structures are inspected very three years (approximately one-third of the Non-Federal structures are inspected annually). 128 Financial Section Nonmajor Governmental Funds Combining and Individual Fund Statements and Schedules Nonmajor Governmental Funds Maricopa County Listing of Nonmajor Governmental Funds Special Revenue Funds Accommodation Schools — (Fund 509) Accounts for the maintenance and operations of the accommodation schools. (Fund 509 is for financial statement roll up purposes, off Advantage - Formerly Regional School District 509). Adult Probation Fees — (Fund 201) Collects the fees assessed to persons placed on probation in the Superior Court per A.R.S. §13-901. Monies collected are used to supplement County General Fund appropriations for the compensation costs of probation officers who provide pre-sentence investigations (A.R.S. §12-267). Adult Probation Grants — (Fund 211) Revenues consist of grant funds that are used for domestic violence, women’s treatment programs, gang prevention and criminal justice records improvement. Air Quality Fees — (Fund 504) Air Quality works to protect the environment and public health through control, preservation, and improvement of the County’s air quality. Permit revenue authorized by A.R.S. §49-480 is the funding source. Air Quality Grants — (Fund 503) Air Quality Grants was set up to account for all grant activity administered by the Air Quality Department. Animal Control Grants — (Fund 573) Animal Control Grants was set up to account for all grant activity administered by Animal Control. Animal Control License/Shelter — (Fund 572) Animal Control reduces the incidences of animal inflicted injuries and reduces the risk of exposure to rabies through enforcement of dog licensing laws, leash laws, capture and impoundment of stray dogs, public education, adoption or humane disposal of excess animals. Licenses and fees are the primary funding source. Animal Care Donations — (Fund 575) Accounts for cash and in-kind donations by citizens or groups for the benefit of community and shelter cats and dogs. Ballpark Operations — (Fund 253) Accounts for all revenues and expenditures related to Chase Field. Cactus League Operations — (Fund 250) Provides regional leadership and financial resources to assure the presence of Major League baseball in Maricopa County. Operations are funded by a rental vehicle surcharge. CDBG Housing Trust — (Fund 217) Accounts for the grant funds that are utilized to expand the supply of low-income housing through the rehabilitation and reconstruction of single family occupancy homes. Check Enforcement Program — (Fund 266) Accounts for fees that are collected pursuant to A.R.S. §13-1809 and §131810, any investigation and prosecution costs and any monies that are obtained as a result of a forfeiture and that are recovered for the county through enforcement of A.R.S. §13-1802, §13-1807, §13-2002 or §13-2310, whether by final judgment, settlement or otherwise. The monies in the fund shall be used for the investigation, prosecution and deferred prosecution of theft, forgery and fraud. Child Support Enhancement — (Fund 270) Accounts for funds received from a federal incentive award that is utilized for the enhancement of child support collections through efficient operation of the Title IV-D program. Children’s Issues Education — (Fund 281) Accounts for the funds that are utilized for educational programs regarding the impact that divorce, the restructuring of families and judicial involvement have on children pursuant to A.R.S. §25354. Revenues that are received from the Clerk’s educational program fees supplement any state or county appropriations. Clerk of Court Fill the Gap — (Fund 218) This fund was set up as indicated by A.R.S. §41-2421(F) and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases in the Superior Court, including the Office of the Clerk of the Superior Court, and Justice Courts. Clerk of the Court Grants — (Fund 216) Accounts for the grant funds that are utilized for the improvement of court automation systems, child support enforcement and the processing of criminal history dispositions. 131 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Clerk of the Court Judicial Enhancement – (Fund 202) Revenues consist of fees and surcharges collected under authority of A.R.S. §12-284.03 and time payment fees collected under authority of A.R.S. §12-116. In addition, revenues are received from the State Judicial Enhancement Fund established by A.R.S. §12-113. Expenditures are used to improve, maintain and enhance the collection and management of funds and court automation projects. Clerk of the Court SRF — (Fund 274) The Clerk of Court SRF Fund was established to account for Electronic Document Management System (EDMS) Fees, which are collected as authorized by Board Agenda C16020028, ADM1005 and State Attorney General’s Opinion 195-18 (R94-63). Conciliation Court Fees — (Fund 257) Accounts for the monies collected under A.R.S. §12-284(E) related to the dissolution of marriages. The funds collected are used by the Domestic Violence Shelter fund and the Child Abuse Prevention and Treatment fund. Coronavirus Relief Fund — (Fund 200) Accounts for CARES Act (Coronavirus Aid, Relief, and Economic Security Act) funding authorized under section 601(a) of the Social Security Act, as added by section 5001 of the CAREs Act, for the necessary expenditures incurred due to the public health emergency with respect to the Coronavirus Disease 2019 (COVID-19). Correctional Health Grants — (Fund 292) Correctional Health Grants was set up to account for all Correctional Health specific grant activity. County Attorney Fill the Gap — (Fund 221) County Attorney Fill the Gap was set up as indicated by A.R.S. §41-2421(F) and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases by county attorneys. County Attorney Grants — (Fund 219) Accounts for funds that are utilized for the investigation and prosecution of child abuse and domestic violence cases and the enhancement of anti-gang enforcement efforts to deter, investigate, prosecute or adjudicate gang offenders. Victim assistance is provided to include transportation, payment of emergency expenses, education programs and training to children’s advocates. County Attorney RICO — (Fund 213) Accounts for funds that provided by the sale of confiscated property pursuant to A.R.S. §13-2314.03. Operated by the County Attorney, RICO consists of all the activity of the Anti-Racketeering Program. Court Document Retrieval — (Fund 205) Accounts for the collection of an additional filing or appearance fee, not to exceed $15, to be used to defray the cost of converting the Clerk of Superior Court’s document storage and retrieval system to micrographics or computer automation as established by A.R.S. §12-284.01. Criminal Justice Enhancement — (Fund 267) Accounts for monies that are allocated to the county attorneys from the Arizona State Criminal Justice Enhancement fund (A.R.S. §41-2401). The funds are to be used for the purpose of enhancing prosecutorial efforts. Domestic Relations Mediation Education — (Fund 282) Accounts for the funds that are utilized to establish, maintain and enhance programs designed to educate individuals regarding the impacts on children associated with marriage dissolution, legal separation, restructuring of families and the programs available for mediation of visitation or custody disputes, pursuant to A.R.S. §25-413. Operations are funded by revenues from a surcharge received by the Clerk for each filing of a post-adjudication petition in a domestic relation’s case, pursuant to A.R.S. §12-284. Educational Supplemental Program — (Fund 790) Accounts for federal indirect fees charged to school districts. Elections Grants — (Fund 248) Elections Grants was set up to account for all grant activity administered by the Elections Department. Emancipation Administrative Costs – (Fund 277) Emancipation Administration Fund was established by A.R.S. §12-2456 consisting of filing fees for a petition for emancipation of a minor pursuant to A.R.S. 12-284, subsection J. Emergency Management — (Fund 215) Emergency Management activity consists of disaster planning and training. Environmental Services Environmental Health — (Fund 506) Environmental Services – Environmental Health Fund was established to account for activities related to the protection of food and water supplies consumed by residents. Funding is provided by fees collected from Health Inspections and the sale of Health Permits. 132 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Expedited Child Support — (Fund 271) Accounts for the funds that are utilized to establish, maintain and enhance programs designed to expedite the processing of petitions filed and enforce the resultant court orders. Revenues collected for subsequent case filing fees for post-decree petitions in dissolution cases, pursuant to A.R.S. §25-412 and A.R.S. §12-284, fund operations. Flood Control — (Fund 991) Provides flood control facilities and regulates floodplains and drainage to prevent flooding of property and endangering the lives of people in Maricopa County. Operations are funded by a secondary tax levy. This fund is part of the Maricopa County Flood Control District, a legally separate entity, which is a blended component unit of Maricopa County. Flood Control Grants — (Fund 989) General Government Grants was set up to account for all non-department specific grant activity. This fund is part of the Maricopa County Flood Control District, a legally separate entity, which is a blended component unit of Maricopa County. Human Services Grants — (Fund 222) Accounts for the grant funds that are utilized for community action services designed to help the disadvantaged achieve self-sufficiency and family stability. Inmate Health Services — (Fund 254) Accounts for the co-payments received from inmates for self initiated health service pursuant to A.R.S. §31-161 and A.R.S. §31-162. Inmate Services — (Fund 252) Accounts for the funds that are held in trust for the benefit and welfare of the inmates, established under A.R.S. §31-121. The majority of revenues are derived from sales of food and sundries to inmates. Justice Court Judicial Enhancement — (Fund 204) Revenues consist of fees and surcharges collected under the authority of A.R.S. §22-281; and time payment fees collected under authority of A.R.S. §12-116; and on-line access subscription fees collected under authority of A.R.S. §22-284. Expenditures are used to improve, maintain and enhance the ability to collect and manage monies assessed or received by the courts and to improve court automation projects. Justice Courts Photo Enforcement — (Fund 237) Established by the Board of Supervisors on November 4, 2009 (C-2410-001-M-00) to account for the Justice Courts fee revenue and operating expenditures associated with photo radar traffic enforcement. Justice Courts Special Revenue — (Fund 245) Established for the purpose of defraying expenses of justice court services by providing improvements in court technology, operations and facilities to enable the courts to respond quickly to changing statutory and case processing needs. Operations are funded by a user’s charge to be added to the Defensive Driving School Diversion Fee as of March 1, 1998. Justice Reinvestment – (Fund 293) Accounts for funds received pursuant to ARS §36-2863 to be utilized for justice reinvestment programs and initiatives that focus on the following: prevention and treatment of substance abuse, restorative justice, jail diversion, workforce development, reducing drug-related arrests, and developing programs to assist with civil rights restoration and expungement of criminal records. Juvenile Probation Diversion — (Fund 275) The Juvenile Probation Diversion fund was established by A.R.S. §11-537 and consists of diversion fees that are collected pursuant to A.R.S. §8-321(N). The monies shall be used at the discretion of the county attorney for administering county community based alternative programs that are established pursuant to A.R.S. §8-321. Juvenile Probation Grants — (Fund 227) Accounts for the grant funds that are utilized for the child nutrition program, family counseling and safe schools program. Juvenile Probation Special Fees — (Fund 228) This fund was established by A.R.S. §12-268 to account for juvenile probation fees collected and used for the purpose of supplementing County General Fund appropriations for the compensation of personnel of the Juvenile Court. Juvenile Restitution — (Fund 229) Pursuant to A.R.S. §8-346, the fund was established for the payment of restitution in juvenile delinquency proceedings. This fund consists of state and local appropriations, gifts, devices and donations from any public or private source. Lake Pleasant Recreation Services — (Fund 240) Provides the public with positive leisure opportunities in a safe, accessible and efficient manner through quality development and programming while conserving and protecting unique and environmentally sensitive areas. 133 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Law Library Fees — (Fund 261) Established by A.R.S. §12-305 to account for a portion of the fees collected by the Clerk of Superior Court to be used for the purchase of books for the county law library. Library District — (Funds 244) Provides and maintains library services for the residents of Maricopa County. Operations are funded by a secondary tax levy. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. Library District Grants — (Fund 242) Library District Grants was set up to account for all grant activity administered by the County Library District. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. Medical Examiner Grants — (Fund 224) Medical Examiner Grants was set up to account for all grant activity administered by the department of the Medical Examiner. Non-Departmental Grants — (Fund 249) Non-Departmental Grants was set up to account for all non-department specific grant activity. Officer Safety Equipment — (Fund 206) Accounts for the assessments that are received by the County for investigations or issued citations pursuant to A.R.S. §12-116.04. The monies in the fund should be used to supplement, not supplant, monies available for officer safety equipment. Palo Verde — (Fund 207) Palo Verde receives an annual allocation from the State of Arizona. Expenditures are utilized for nuclear disaster training. Parks and Recreation Grants — (Fund 230) Accounts for the grant funds that are utilized for state lake improvements, park restoration and the construction and maintenance of hiking trails. Parks Donations — (Fund 243) Accounts for donations and contributions activities provided for by citizens or groups. Parks Enhancement — (Fund 241) Accounts for park and recreation revenues and expenditures associated with enhancing parks and recreation programs pursuant to A.R.S. §11-941. Parks Souvenir — (Fund 239) Accounts for sales proceeds of sundry items at the Maricopa County Parks. Pension Reserve – (Fund 510) Established to fund the County's pension-related costs and obligations and funded through the issuance of Pledged Revenue Obligations, Taxable Series 2022, and transfers from various County funds. Planning and Development Fees — (Fund 226) Performs mandated community planning functions. Funding is provided mainly through license and impact fees. Probate Fees — (Fund 256) Administers the monies received by the Clerk of the Superior Court pursuant to A.R.S. §145314 and A.R.S. §14-5414 to preserve, audit, and safeguard the estates and wards for whom the court has a fiduciary responsibility. Public Defender Fill the Gap — (Fund 262) Public Defender Fill the Gap was set up as indicated by A.R.S. §41-2421(F) and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by counties for the processing of criminal cases by the county public defender, legal defender and contract indigent defense counsel in each county. Public Defender Grants — (Fund 233) Accounts for grant funds that are utilized for public defender training and to increase the processing of drug cases. Public Defender Training — (Fund 209) Established by A.R.S. §12-117 to account for fees that are paid on a time payment basis as established by A.R.S. §12-116. Expenditures are utilized for Public Defender Training. Public Health Fees — (Fund 265) Accounts for public health programs that are self-supported by Vital Health fees and pharmacy operations. 134 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Public Health Grants — (Fund 532) Protects, improves and preserves the physical, mental and social well being and the environment of the entire population of Maricopa County with a special responsibility to serve those most vulnerable. Federal and State grants fund operations. Recorder’s Surcharge — (Fund 236) Accounts for the collection of a special recording surcharge, not to exceed four dollars, to be used to defray the cost of converting the County Recorder’s document storage and retrieval system to micrographics or computer automation as established by A.R.S. §11-475.01. School Communication Expense — (Fund 782) Accounts for management of centralized billings paid by Superintendent of Schools for multiple school districts. School Grants — (Fund 715) Accounts for all grant activity administered by the Superintendent of Schools. School Transportation — (Fund 780) Established by A.R.S. §15-1001 to account for transportation aid for the transportation of children from unorganized territory to school districts within the County. Sheriff Donations — (Fund 203) Accounts for and segregates funds to be used in support of mandated functions. Funding is provided by non-specific donations and proceeds from the sale of donated items. Sheriff Grants — (Fund 251) Accounts for grant and intergovernmental funds that support and enhance Sheriff Office activities. Sheriff Jail Enhancement — (Fund 214) Per A.R.S. §41-2401, the Arizona State Department of Corrections allocates criminal justice enhancement fund to County Sheriffs for the purpose of enhancing County Jail facilities and operations. Sheriff RICO — (Fund 212) This fund consists of monies received as result of participation in any investigation or prosecution, whether by final judgment, settlement, or otherwise. Monies may be used for the funding of gang prevention programs, substance abuse prevention programs, substance abuse education programs, and witness protection or for any purposes permitted by federal law relating to the disposition of any property that is transferred to a law enforcement agency. Sheriff Towing and Impound — (Fund 258) Accounts for the fees collected for the removal, immobilization, impoundment, storage, and release of a vehicle pursuant to A.R.S. § 28-3513. The monies in the fund shall be used for the purpose implemented in A.R.S. §28-872. Small School Service — (Fund 669) Established per A.R.S. §15-365 to account for service programs operated through the County School Superintendent. Spousal Maintenance Enforcement Enhancement — (Fund 276) The Spousal Maintenance Enforcement Enhancement Fund is established for the Clerk of the Superior Court consisting of monies received pursuant to A.R.S. §12-289. The Clerk will spend monies in the fund to enhance enforcement of spousal maintenance orders. In addition to the fees required by section A.R.S. §12-284, the clerk shall charge and collect a surcharge of five dollars for each filing of a petition or an answer for annulment, dissolution of marriage or legal separation. The clerk will use the surcharge only for the purposes prescribed by this statute. Spur Cross Ranch Conservation — (Fund 225) Accounts for the money collected from a Town imposed ½% transaction privilege tax for the operation of the County park. Street Lighting District — (Fund 992) Provides street lighting in unincorporated areas of Maricopa County. Operations are funded by special assessment. Superior Court Building Repair — (Fund 280) This fund was set up to segregate costs for additions, alterations and repairs for the Superior Court Building. Superior Court Fill the Gap — (Fund 264) Superior Court Fill the Gap was set up as indicated by A.R.S. §41-2421(F) and accounts for monies distributed under A.R.S. §41-2421. Funds are to be used to supplement, not supplant, funding at the level provided in fiscal year 1998 by the counties for the processing of criminal cases in the superior court, including the office of the clerk of the superior court, and justice courts. 135 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Superior Court Grants — (Fund 238) Grant funds are used for drug enforcement accounting, court appointed special advocates and case processing assistance. Superior Court Judicial Enhancement — (Fund 208) Revenues consist of fees and surcharges collected under authority of A.R.S. §12-284.03 and time payment fees collected under authority of A.R.S. §12-116. In addition, revenues are received from the State Judicial Enhancement Fund established by A.R.S. §12-113. Expenditures are used to improve, maintain and enhance the collection and management of funds and court automation projects. Superior Court Special Revenue — (Fund 259) Accounts for monies received under an intergovernmental agreement with the Department of Economic Security to conduct Title IV-D child support enforcement enhancements. Taxpayer Information — (Fund 741) Consist of monies collected from the public records copy surcharge imposed under A.R.S. §11-496, the tax-lien-processing fee imposed pursuant to A.R.S. §42-18116, $50 of each judgment-deed fee collected pursuant to A.R.S. §42-18205, interest earned from the elderly assistance fund pursuant to A.R.S. §42-17401 and the community facilities district special assessment fee imposed pursuant to A.R.S. §48-721. The County Treasurer shall administer the fund and spend monies in the fund only to defray the cost of converting or upgrading an automated public information system. Transportation Grants — (Fund 223) Transportation Grants was set up to account for all grant activity administered by the County Transportation Department. Transportation Operations — (Fund 232) Plans and implements an environmentally balanced multi-model transportation system. Operations are funded through highway user taxes. Victim Compensation Interest — (Fund 269) Established as authorized by A.R.S. §11-538 consisting of monies that are distributed pursuant to A.R.S. §12-286 (75 percent of the interest earned on restitution monies that are received in trust). The County Attorney shall use monies in the fund to assist eligible victims of crime with medical, counseling and funeral expenses and lost wages. Victim Compensation Restitution — (Fund 268) Established to administer funding provided from the State Victim Compensation and Assistance fund (A.R.S. §41-2407) and from prisoner supervision fees under A.R.S. §31-418. The fund is used for establishing, maintaining and supporting programs that compensate and assist victims of crime. Victim Location — (Fund 273) Revenues are derived from interest earned on restitution monies received in trust and are to be distributed to the County Attorney and Clerk of the Superior Court on a pro rata basis (County Attorney – 75% and Superior Court – 25%). Fund was established by A.R.S. §12-287. Waste Management — (Fund 210) Established by the Board of Supervisors to segregate this activity from the General Fund. This fund accounts for a fixed $65,000 fee from Waste Management Corporation plus a percentage based on the tonnages of refuse dumped. Expenditures are used for economic development in Mobile and other unincorporated areas of the County. Waste Tire — (Fund 290) Accounts for the operations activity of the waste tire processing center for the removal of waste tires from the County pursuant to A.R.S. §44-1305. Debt Service Funds County Improvement Debt Fund – (Funds 320/321) Accounts for the debt service for the Certificates of Participation, Refunding Series 2016, Certificates of Participation, Series 2018A, Certificates of Participation, Series 2020, Certificates of Participation, Series 2022, and other long-term obligations. This fund’s main revenue source is from transfers for the repayment of debt. Pledged Revenue Debt Fund – (Fund 322) Accounts for debt service for the Pledged Revenue Obligations, Taxable Series 2022. The fund's main revenue source is from transfers for the repayment of debt. 136 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Capital Projects Funds Detention Capital Projects – (Fund 455) Accounts for construction associated with the 1/5 of one-cent sales tax approved by voters in the General Election on November 3, 1998, and extended by voters on November 5, 2002. Funding is provided by transfers from the Detention Operations Fund for construction of the adult and juvenile detention facilities. Detention Technology Capital Improvement — (Fund 461) Established by the Board of Supervisors to account for Detention Fund resources restricted for technology improvement projects consistent with A.R.S. §42-6109.01. Flood Control Capital Projects — (Fund 990) Set up administratively as a capital project fund to track capital projects activity of the Flood Control District. Funding is provided by a reimbursement transfer from the Flood Control District which derives its funding from an annual Property Tax Levy. Intergovernmental Capital Projects — (Fund 422) Accounts for capital project spending predominantly funded from General Fund revenues. Library District Capital Improvement — (Fund 465) Accounts for Library District capital projects funded from Library District revenue transfers. This fund is part of the Maricopa County Library District, a legally separate entity, which is a blended component unit of Maricopa County. Sheriff MASH Capital Donation Fund — (Fund 430) Set up administratively to track capital project activity for the Sheriff’s Office MASH unit and is primarily funded by donations. Special Improvement Districts — (Fund 993) Accounts for capital projects financed by the issuance of special assessment bonds. Technology Capital Improvement Fund – (Fund 460) established by the Board of Supervisors to account for General Fund and other resources committed for technology improvement projects. Transportation Capital Projects — (Fund 234) Established administratively as a capital project fund to track capital project activity of the County Transportation Department. Funding is provided by a reimbursement transfer from the Transportation Fund that derives its funding from the State Highways User’s Tax. 137 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds June 30, 2023 SPECIAL REVENUE FUNDS Accommodation Schools Adult Adult Air Air Probation Fees Probation Grants Quality Fees Quality Grants ASSETS Cash in bank and on hand $ $ $ 977 $ 9,577 $ 1,175 Cash and investments held by County Treasurer 81,390 3,022,483 Receivables 939,367 13,570,596 864,046 1 58,241 Due from other funds Due from other governmental units 214,008 1,009,075 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 81,390 $ 3,886,529 $ 1,154,352 $ 13,638,414 $ 1,010,251 $ 31,593 $ 58,550 $ 123,494 $ 423,026 $ 73,106 LIABILITIES Accounts payable Employee compensation payable 20,706 205,681 20,948 Accrued liabilities Due to other funds 916,198 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 1,010,153 Deposits held for other parties Contract retention payable 31,593 Total liabilities 58,550 1,154,353 628,707 1,010,252 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 73,801 711,937 73,801 711,937 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 49,797 3,827,979 49,797 3,827,979 13,009,707 Committed (73,802) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 81,390 $ 3,886,529 138 (711,938) (73,802) $ 1,154,352 13,009,707 $ 13,638,414 (711,938) $ 1,010,251 SPECIAL REVENUE FUNDS Animal Animal Animal Care Donations Control Grants Control License $ $ 293 $ 101,289 11,241 Ballpark Operations $ Cactus CDBG Check League Operations Housing Trust Enforcement Program $ $ 527,732 1,573,127 5,197,630 158,092 7,024 23,206 31,254 250,000 1,201,637 162 $ 685 89,711 124 61,570 $ 293 $ $ 101,289 $ 789,889 $ 1,830,151 $ 6,422,473 $ 847 $ $ 1,289 $ 196,359 $ 1,500 $ 1,201,637 $ 685 $ 181,938 26 162 89,835 1,103 100,000 101,289 378,323 1,500 1,201,637 847 1,103 61,570 $ 293 349,996 1,828,651 5,220,836 88,732 293 411,566 1,828,651 5,220,836 88,732 293 $ 101,289 $ 789,889 $ 1,830,151 $ 6,422,473 $ 847 $ 89,835 (continued on next page) 139 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Clerk of the Child Children’s Clerk of Clerk of Court Support Enhancement Issues Education the Court Fill The Gap The Court Grants Judicial Enhancement ASSETS Cash in bank and on hand $ $ $ 1,871 $ $ 215 Cash and investments held by County Treasurer 1,413,916 Receivables 9,206 34,326 2,741,206 6,313 81,706 Due from other funds Due from other governmental units 272,775 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,420,229 $ 9,206 $ 36,197 $ 272,775 $ 2,823,127 $ 11,440 LIABILITIES Accounts payable $ $ $ Employee compensation payable $ 37,419 5,622 Accrued liabilities Due to other funds 272,775 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable 37,419 Total liabilities 272,775 17,062 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 185,012 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 185,012 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 1,420,229 9,206 1,420,229 9,206 2,806,065 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 1,420,229 140 $ 9,206 $ (1,222) (185,012) (1,222) (185,012) 36,197 $ 272,775 2,806,065 $ 2,823,127 SPECIAL REVENUE FUNDS $ Clerk of Conciliation Coronavirus Correctional County County County The Court SRF Court Fees Relief Fund Health Grants Attorney Fill the Gap Attorney Grants Attorney RICO 2,295 $ $ 4,058,459 1,691,603 288,060 144,960 $ $ 873 1,060 $ 3,939 $ 442,591 359,002 9,702,733 1,519,278 2,894,083 $ $ 4,348,814 408,551 $ 1,836,563 $ $ 2,894,083 $ $ 873 $ $ 443,651 $ $ 44,172 $ 21,449 1,523,217 $ 10,061,735 374,715 $ 12,911 89,815 1,053,452 873 5,233 3,263,498 452,723 873 21,449 1,523,215 3,276,409 475,468 475,468 2,894,083 3,896,091 1,836,563 422,202 3,896,091 1,836,563 2,894,083 1,836,563 $2,894,083 6,785,326 (475,466) $ 4,348,814 $ 422,202 $ 873 $ 443,651 (475,466) $ 1,523,217 6,785,326 $ 10,061,735 (continued on next page) 141 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Domestic Court Criminal Document Retrieval Justice Enhancement Relations Mediation Education Educational Supplemental Program Elections Grants ASSETS Cash in bank and on hand $ 775 $ 376 $ $ 637 $ Cash and investments held by County Treasurer Receivables 671,544 332,380 216,294 2,553,879 97,829 484,352 14,448 686,312 2,634,105 Due from other funds Due from other governmental units 102,073 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 770,148 $ $ 32,492 $ 817,108 $ 230,742 $ 3,240,828 $ 2,736,178 LIABILITIES Accounts payable Employee compensation payable 16,159 $ $ 6,335 $ 13,399 Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 2,736,178 Deposits held for other parties Contract retention payable Total liabilities 48,651 6,335 13,399 721,497 810,773 230,742 3,227,429 721,497 810,773 230,742 3,227,429 2,736,178 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 770,148 $ 142 817,108 $ 230,742 $ 3,240,828 $ 2,736,178 SPECIAL REVENUE FUNDS Expedited Emancipation Administration $ Emergency Management $ 993 Environmental Services $ 12,518 16,550 Child Support $ Flood Control $ 13,795 17,819,394 430,645 37,242,017 80,237 55,718 2,123,433 $ Human Inmate Services Grants Health Services 19,576 $ 24,327,696 1,006,246 4,493 1,594,749 19,328,094 598,284 30,112 $ 12,518 $ $ $ 1,595,742 $ 10,539 $ 22,678 17,916,181 $ 154,833 $ 486,363 $ 846 39,978,375 $ 43,675,366 $ 1,040,851 $ 1,621,967 $ 4,993,977 $ 22,017 348,718 294,750 377,508 669 81 1,050 38,234,256 1,918,436 43,605,822 853,521 709,003 1,595,741 503,551 22,017 770,687 1,476,692 10,915,125 307,833 1,476,692 1,078,520 10,915,125 598,284 12,518 486,363 36,383,135 486,363 36,981,419 1,018,834 17,412,630 (1,476,691) 12,518 $ 12,518 (10,845,581) (1,476,691) $ 1,595,742 17,412,630 $ 17,916,181 $ 486,363 $ 39,978,375 (10,845,581) $ 43,675,366 1,018,834 $ 1,040,851 (continued on next page) 143 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Inmate Services ASSETS Cash in bank and on hand $ 17,640 Justice Justice Courts Courts Courts Justice Juvenile Judicial Enhancement Photo Enforcement Special Revenue Reinvestment Fund Probation Diversion $ 11 $ Justice $ $ $ Cash and investments held by County Treasurer Receivables 18,135,321 5,028,278 80,442 79,572 8,226 1,181,154 6,792,490 138,725 540,415 30,327 6,610 $ 1,721,569 $ 6,822,817 $ $ $ $ Due from other funds Due from other governmental units Inventories 177,318 Miscellaneous 1,270,935 Cash and investments held by trustee – restricted Total assets $ 19,681,656 $ 547,684 $ 5,107,861 $ $ $ 8,226 145,335 LIABILITIES Accounts payable Employee compensation payable 11,488 119,090 849 666,774 12,337 150,271 359 Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable Total liabilities 150,271 359 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 177,318 18,837,564 5,095,524 8,226 1,571,298 6,822,458 145,335 Total fund balances 19,014,882 5,095,524 8,226 1,571,298 6,822,458 145,335 Total liabilities, deferred inflows of $ resources, and fund balances 19,681,656 $ 5,107,861 8,226 $ 1,721,569 $ 6,822,817 Committed Unassigned 144 $ $ 145,335 SPECIAL REVENUE FUNDS $ Juvenile Lake Juvenile Probation Pleasant Law Probation Grants Special Fee Recreation Services Library Fees 20,851 $ 839,447 Juvenile Restitution $ 1,344,031 $ 190,313 175,746 3,359 $ Library 2,504 Library District $ $ 13,081 3,604,936 963,308 25,333,146 11,220,139 134,335 579,157 51,985 $ District Grants $ 294,636 1,302,711 912,283 $ 42,561 $ 1,519,777 $ 190,313 $ 14,828,434 $ $ 1,000 $ 338,158 $ 62,526 35,646 1,100,147 $ 34,349 $ 11,239 25,000 27,228,095 $ 971,573 $ 319,636 246,701 454,915 319,637 560,002 1,000 373,804 45,588 1,218,274 319,637 305,777 25,000 939,393 10,067,661 11,007,054 305,777 352,281 1,519,777 189,313 3,447,576 1,054,559 25,704,044 352,281 1,519,777 189,313 3,447,576 1,054,559 25,704,044 25,000 (25,001) $ 912,283 $ 1,519,777 $ 190,313 $ 14,828,434 $ 1,100,147 $ 27,228,095 (25,001) $ 319,636 (continued on next page) 145 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Medical Officer Examiner Grants Safety Equipment Parks and Opioid Abatement Palo Verde Recreation Grants ASSETS Cash in bank and on hand $ $ $ $ 386 $ Cash and investments held by County Treasurer 148,621 Receivables 113,255 11,904,143 849,679 1,619 98,681,249 181,528 Due from other funds Due from other governmental units 7,063 182,767 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 155,684 $ 114,874 $ 110,585,392 $ $ $ 1,031,593 $ 182,767 $ 57,500 LIABILITIES Accounts payable $ $ Employee compensation payable 8,637 Accrued liabilities Due to other funds 125,266 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 155,684 Deposits held for other parties 1,550,765 Contract retention payable 155,684 Total liabilities 1,550,765 8,637 182,766 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 182,766 Unavailable revenue - settlements 98,627,085 Deferred inflows - leases Deferred inflows – public private partnerships 98,627,085 Total deferred inflows of resources 182,766 FUND BALANCES Nonspendable Restricted 114,874 10,407,542 1,022,956 114,874 10,407,542 1,022,956 114,874 $ 110,585,392 Committed (182,765) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 155,684 $ 146 $ 1,031,593 (182,765) $ 182,767 SPECIAL REVENUE FUNDS Parks Donations $ Parks Enhancements $ 4,068 548,238 2,874,939 2,449 1,187,220 Parks Souvenir $ 42 Pension Reserve $ 26,800 $ 550,687 $ 4,066,227 $ $ 767 $ 470,973 $ 82,281 26,842 970 Planning Public and Defender Public Fill The Gap Defender Grants Development Fees $ 9,236 Probate Fees $ $ 744 186,655,941 43,000,396 204,631 1,323,863 833,370 192,454 37,463 5,912 $ 187,489,311 $ 43,202,086 $ $ $ 1,270,867 $ 1,071 242,094 $ $ 189,172 1,330,519 3,518 13,957 714,086 $ 8 10,373,054 $ 10,373,062 $ 17,058 2,915 10,353,089 324,769 767 553,254 2,041 2,498,894 17,475 10,373,062 1,103,557 1,103,557 549,920 2,409,416 24,801 187,489,311 242,094 1,313,044 242,094 1,313,044 40,703,192 549,920 $ 550,687 2,409,416 $ 4,066,227 $ 24,801 187,489,311 26,842 $ 187,489,311 40,703,192 $ 43,202,086 $ 242,094 $ 1,330,519 $ 10,373,062 (continued on next page) 147 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Public Public Public Defender Training Health Fees Health Grants Recorders Surcharge School Communication ASSETS Cash in bank and on hand $ 161 $ 11,573 $ 28,351 $ 2,285 $ 519 Cash and investments held by County Treasurer Receivables 105,332 9,521,908 1,588,699 46,660 46,460 65,240 6,650 1,152,008 Due from other funds Due from other governmental units 42,360,581 Inventories 889,596 518,424 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 151,953 $ 10,488,317 $ 42,907,356 $ 1,597,634 $ $ 24,313 $ $ $ 595,257 $ 1,199,187 LIABILITIES Accounts payable Employee compensation payable 457,337 3,666 76,467 5,222,713 625,836 47,570 10,560 642,827 10,560 954,807 1,188,627 954,807 1,188,627 Accrued liabilities Due to other funds 29,337,304 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 5,265,314 Deposits held for other parties Contract retention payable Total liabilities 27,979 533,804 40,451,167 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 28,857,120 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 28,857,120 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 889,596 518,424 123,974 9,064,917 Total fund balances 123,974 9,954,513 (26,400,931) Total liabilities, deferred inflows of $ resources, and fund balances 151,953 $ 10,488,317 $ 42,907,356 Committed (26,919,355) Unassigned 148 $ 1,597,634 $ 1,199,187 SPECIAL REVENUE FUNDS Sheriff School Grants $ 3,028 School Transportation $ Sheriff Donations $ Sheriff Grants $ 575,582 506,870 2,570 2,263 106,802 Jail Enhancements $ 15,723,608 Sheriff Rico $ 60,000 3,755,715 110,311 1,096,936 1,092,048 97,315 $ 1,099,964 $ 578,152 $ $ 245,657 $ 4,001 $ 509,133 $ $ 58,213 16,922,458 $ 3,866,026 $ 207,179 $ 165,569 $ 2,547,635 157,315 2,879 768,759 97,315 210,764 14,167,645 1,745 1,283,393 4,001 16,922,459 1,096,938 760,268 1,096,938 760,268 574,151 509,133 574,151 509,133 (1,280,367) 1,099,964 97,315 3,695,833 60,000 3,695,833 60,000 (760,269) (1,280,367) $ 170,193 $ 578,152 $ 509,133 (760,269) $ 16,922,458 $ 3,866,026 $ 157,315 (continued on next page) 149 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Spousal Spur Towing Sheriff Small Maintenance Cross Street And Impound School Service Enforcement Enhancement Ranch Conservation District Light ASSETS Cash in bank and on hand $ 56 $ 98 $ $ 336 $ Cash and investments held by County Treasurer 29,502 250,605 191,472 Receivables 359,852 3,188,757 9,617 Due from other funds Due from other governmental units 18,000 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 29,558 $ 250,703 $ 10 $ 29,260 $ 201,089 $ 378,188 $ 3,188,757 $ 2,425 $ 430,840 LIABILITIES Accounts payable $ Employee compensation payable 1,307 2,031 2,825 1,317 31,291 5,250 430,840 28,241 219,412 201,089 372,938 2,757,917 28,241 219,412 201,089 372,938 2,757,917 Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 29,558 $ 250,703 150 $ 201,089 $ 378,188 $ 3,188,757 SPECIAL REVENUE FUNDS Superior Superior Superior Superior Court Superior Court Court Court Building Fill The Gap Court Grants Judicial Enhancement Special Revenue $ $ 523,618 12,199 $ 17,525 7,002 $ 2,780,212 2,257 $ 525,875 $ $ 47,683 $ 29,724 $ $ 49,821 3,196,611 $ 895,460 3,471,609 548,683 47,643 454,285 122,082 409,397 $ Taxpayer Information 23,570 $ 52,530 943,103 $ 3,949,464 $ 670,765 27,801 3,646 $ 27,801 3,646 915,302 3,945,818 670,765 915,302 3,945,818 670,765 64,005 3,080,087 47,683 49,821 3,196,622 29,813 29,813 478,192 478,192 $ 525,875 $ (20,097) (29,824) (20,097) (29,824) 29,724 $ 3,196,611 $ 943,103 $ 3,949,464 $ 670,765 (continued on next page) 151 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 SPECIAL REVENUE FUNDS Victim Transportation Grants Transportation Operations Compensation Interest Victim Compensation Restitution Victim Location ASSETS Cash in bank and on hand $ $ 32,503 $ $ $ Cash and investments held by County Treasurer 90,216 Receivables 57,358,594 936,610 609,218 538,333 4,167 2,712 41,388 Due from other funds Due from other governmental units 663,256 25,278,816 Inventories 994,574 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 753,472 $ 84,202,820 $ $ 9,830,498 $ 940,777 $ 611,930 $ $ 13,077 $ 41,388 LIABILITIES Accounts payable $ Employee compensation payable 679,508 Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 753,471 Deposits held for other parties 6,292,032 101,968 Contract retention payable 753,471 Total liabilities 16,904,006 13,077 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 39,783 Unavailable revenue - settlements Deferred inflows - leases 87,849 Deferred inflows – public private partnerships 39,783 Total deferred inflows of resources 87,849 FUND BALANCES Nonspendable 994,574 Restricted 66,216,391 940,777 598,853 41,388 67,210,965 940,777 598,853 41,388 Committed (39,782) Unassigned (39,782) Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 753,472 $ 152 84,202,820 $ 940,777 $ 611,930 $ 41,388 SPECIAL REVENUE FUNDS Waste Management $ Waste Tire $ DEBT SERVICE FUNDS Total 117 $ 781,176 County Pledged Improvement Debt Revenue Debt $ $ Total $ 549,733 2,308,613 560,299,547 86,670,499 249,642,427 336,312,926 117,454 10,307 121,842,960 386,961 1,114,588 1,501,549 1,472,094 99,507,167 23,561,929 110,619,389 5,428 $ 250,762,443 $ $ $ 6,133,849 1,398,362 $ 667,187 $ 3,791,131 $ 846 789,963,907 $ $ 811 $ 471,679 $ 31,506,063 $ 1,266 23,567,357 361,381,832 6,655,132 1,879 33,424,590 869,482 869,482 22,690,000 22,690,000 23,559,482 23,559,482 78,271,438 11,431,064 103,713 811 161,393,879 472,945 1,076,464 44,829,723 98,627,085 2,438,632 10,067,661 157,039,565 6,133,849 666,376 3,318,186 666,376 $ 667,187 3,318,186 $ 3,791,131 $ 450,307,964 2,447 58,115,822 (43,027,172) 87,057,460 471,530,463 87,059,907 789,963,907 $ 110,619,389 250,762,443 250,764,890 87,057,460 250,762,443 $ 250,762,443 337,822,350 $ 361,381,832 (continued on next page) 153 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2023 CAPITAL PROJECTS FUNDS Detention Flood Library Detention Technology Control District Capital Projects Capital Projects Capital Projects Capital Improvement ASSETS Cash in bank and on hand $ $ $ $ Cash and investments held by County Treasurer 64,482,615 2,830 Receivables 101,812,352 10,167,683 20,442 45,396 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 64,482,615 $ 2,830 $ 101,832,794 $ $ 16,801,343 $ 10,213,079 LIABILITIES Accounts payable 138,191 Employee compensation payable Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable Total liabilities 117,718 2,334,794 255,909 19,136,137 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 64,226,706 2,830 82,696,657 10,213,079 64,226,706 2,830 82,696,657 10,213,079 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 64,482,615 $ 154 2,830 $ 101,832,794 $ 10,213,079 CAPITAL PROJECTS FUNDS Sheriff Total Mash Special Technology Transportation Capital Donations Improvement Districts Capital Improvement Capital Projects $ $ 282,356 $ 1,111,497 883 $ 83,007,308 Nonmajor Governmental Funds Total $ 883 $ 782,059 43,456,742 304,323,383 1,200,935,856 69,444 135,282 123,479,791 13,746,742 13,746,742 113,253,909 6,133,849 1,398,362 23,568,203 $ 282,356 $ $ 1,111,497 $ 83,008,191 $ 57,272,928 $ 318,206,290 $ 1,469,552,029 $ 19,548 $ 1,135,317 $ 16,025,342 $ 34,119,741 $ 65,625,804 19,774 19,774 450 6,674,906 450 2,329 33,424,590 869,482 22,690,000 78,271,438 19,998 10,388 234,440 5,014,467 234,440 7,477,367 11,665,504 7,581,080 1,165,479 21,274,249 41,851,772 226,805,133 1,076,464 44,829,723 98,627,085 2,438,632 10,067,661 157,039,565 6,133,849 282,356 1,091,499 35,998,679 81,842,712 282,356 $ 282,356 81,842,712 1,091,499 $ 1,111,497 $ 83,008,191 35,998,679 $ 57,272,928 155 $ 194,511,806 895,584,660 81,842,712 227,015,994 (43,027,172) 276,354,518 1,085,707,331 318,206,290 $ 1,469,552,029 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Adult Probation Fees Accommodation Schools Adult Probation Grants Air Quality Fees Air Quality Grants REVENUES Taxes $ $ $ $ Licenses and permits $ 13,685,117 Intergovernmental 10,916,765 2,155,997 Charges for services 6,678,854 Fines and forfeits 2,010,980 3,909,581 373 809,650 234,012 Special assessment Interest income 85,025 39,408 12,222 172,844 434,473 11,001,790 8,729,242 2,168,592 15,336,096 3,909,581 8,159,361 2,199,368 14,457,892 3,997,674 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education 10,380,693 Debt service: Principal 106,315 Interest 6,802 34,908 74,900 Capital outlay Total expenditures 10,380,693 8,159,361 2,199,368 14,605,917 4,072,574 621,097 569,881 (30,776) 730,179 (162,993) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 36,000 Transfers out Financed purchase agreements Lease agreements 36,000 Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 621,097 569,881 (30,776) 766,179 (162,993) (571,300) 3,258,098 (43,026) 12,243,528 (548,945) Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 49,797 $ 3,827,979 156 $ (73,802) $ 13,009,707 $ (711,938) SPECIAL REVENUE FUNDS Animal Care Donations $ Animal Control License/ Shelter Animal Control Grants $ $ Cactus League Operations Ballpark Operations $ 6,963,563 $ 7,660,619 CDBG Housing Trust Check Enforcement $ $ 250,000 121,600 4,557,019 5,011,069 296 625 321,435 7,799 (16,128) 59,235 21,982 3 71,539 271,985 7,732,158 35,566 7,670,619 18,549,233 35,566 7,670,619 1,476,597 (6,531,198) 236,419 61,539 3,080,422 322,060 121,600 12,018,035 318,829 121,600 18,474,190 3,412 19,237 4,557,019 30,448 1,476,597 75,043 318,829 121,600 3,231 30,448 6,583,720 (1,118,617) 6,583,720 (1,118,617) 3,231 52,522 236,419 61,539 1,961,805 30,448 (2,938) 361,693 1,592,232 5,159,297 (1,961,805) 58,284 (2,649) $ 293 $ $ 411,566 $ 1,828,651 $ 5,220,836 $ $ 88,732 (continued on next page) 157 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Child Support Enhancement Children’s Issues Education Clerk of Court Fill the Gap Clerk of the Court Judicial Enhancement Clerk of the Court Grants REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental 1,103,531 Charges for services 25,438 19 1,816,218 794,188 17,071 164 (9,136) 49,456 42,509 183 1,807,082 1,103,531 843,644 1,808,304 1,201,037 1,039,175 1,808,304 1,201,037 1,039,175 Fines and forfeits Special assessment Interest income Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 42,509 183 (1,222) (97,506) (195,531) 42,509 183 (1,222) (97,506) (195,531) 1,377,720 9,023 (87,506) 3,001,596 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 1,420,229 $ 9,206 158 $ (1,222) $ (185,012) $ 2,806,065 SPECIAL REVENUE FUNDS Clerk of The Court SRF $ Conciliation Court Fees $ Coronavirus Relief Fund $ Correctional Health Grants $ County Attorney Fill the Gap $ County Attorney Grants $ County Attorney RICO $ 6,858,842 3,035,663 1,537,950 1,343,133 707,108 97,222 71,983 20,988 3,204,868 1,558,938 4,204,262 1,565,836 10,963 114,899 47,238 5,097,017 5,097,017 1,354,096 6,858,842 869,245 1,324,094 6,882,287 181,004 1,324,094 6,882,287 796,545 5,097,017 615,541 4,204,262 1,565,836 5,097,017 (999,394) (6,898) 30,002 (23,445) 72,700 (999,394) (6,898) 30,002 (23,445) 72,700 4,895,485 1,843,461 392,200 (452,021) 6,712,626 3,054,019 (159,936) $ 3,896,091 $ 1,836,563 $ 2,894,083 $ $ 422,202 $ (475,466) $ 6,785,326 (continued on next page) 159 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Court Document Retrieval Domestic Relations Mediation Education Criminal Justice Enhancement Educational Supplemental Program Elections Grants REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental 901,338 Charges for services 1,076,824 1,872,861 107,096 147,572 Fines and forfeits Special assessment Interest income 42,305 2,778 3,876 (10,546) 48,182 1,119,129 904,116 151,448 1,862,315 155,278 1,783,933 477,374 129,024 Miscellaneous Total revenues EXPENDITURES Current: General government 83,277 Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education 767,075 Debt service: Principal Interest Capital outlay Total expenditures 1,783,933 477,374 129,024 767,075 83,277 (664,804) 426,742 22,424 1,095,240 72,001 (664,804) 426,742 22,424 1,095,240 72,001 1,386,301 384,031 208,318 2,132,189 (72,001) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 721,497 $ 810,773 160 $ 230,742 $ 3,227,429 $ SPECIAL REVENUE FUNDS Emancipation Administration $ Environmental Services Environmental Health Emergency Management $ $ Expedited Child Support $ $ 17,779,089 6,431,992 527,955 211 2,800,697 $ 106,524 111,130,970 27,294 368,553 10,079 266,858 63,609 (9,946) 2,222,298 2,909,238 24,910,101 518,009 81,819,703 106,524 449,820 34,044,133 102,001 1,715,732 1,313 $ 205,648 259,820 1,313 75,517,704 Human Services Grants 927,442 2,540,877 1,102 Flood Control Grants Flood Control 484,286 16,370 111,631,626 24,896,995 114,482,164 86,165 1,033,327 1,588,152 8,336 203,041 557,325 42,305 3,303,884 25,194,537 449,820 35,302,752 102,001 116,115,121 (503,187) (284,436) 68,189 46,516,951 4,523 (4,483,495) 1,258,619 51,825 2,427,828 (38,589,812) 51,825 (38,589,812) 2,427,828 1,313 (503,187) (232,611) 68,189 7,927,139 4,523 (2,055,667) 11,205 (973,504) 17,645,241 418,174 29,091,383 (4,523) (8,789,914) (37,103) $ 12,518 $ (1,476,691) $ 17,412,630 $ 486,363 $ 36,981,419 $ $ (10,845,581) (continued on next page) 161 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Inmate Health Services Inmate Services Justice Courts Judicial Enhancement Justice Courts Photo Enforcement $ $ Justice Courts Special Revenue Justice Reinvestment Fund REVENUES Taxes $ $ $ $ Licenses and permits Intergovernmental 3,371,918 79,062 Charges for services 311,186 14,417,655 6,403,273 689,575 Fines and forfeits Special assessment Interest income 10,328 145,598 2,430 51,437 19,195 (117,383) 321,514 14,565,683 741,012 6,501,530 3,254,535 173,403 11,803,481 281,480 6,626,399 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation 1,891 Culture and recreation Education Debt service: Principal Interest 6,284 Capital outlay Total expenditures 173,403 11,809,765 281,480 6,626,399 1,891 148,111 2,755,918 459,532 (124,869) 3,252,644 148,111 2,755,918 459,532 (124,869) 3,252,644 870,723 16,506,138 4,635,992 1,696,167 3,569,814 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 8,226 Change in nonspendable resources: (247,174) Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 1,018,834 $ 19,014,882 162 $ 5,095,524 $ 8,226 $ 1,571,298 $ 6,822,458 SPECIAL REVENUE FUNDS Juvenile Probation $ Juvenile Probation Special Fee Juvenile Probation Grants $ $ Lake Pleasant Recreation Juvenile Restitution $ $ Law Library Library District $ $ 26,046,451 3,619,314 413,077 51,557 83,083 4,550,356 1,980,083 1,408,729 7,919,605 4 176,950 2,524 11,308 14,959 3,443 2,854 691 31,114 206,046 36,317 176,849 386,692 65,389 3,634,273 2,066,609 3,545 4,787,516 1,445,050 35,119,624 62,500 3,568,191 1,811,232 8,382 1,022,439 3,986,750 30,543,704 44,904 13,193 112,812 444,568 62,500 3,568,191 1,811,232 8,382 4,431,318 1,022,439 30,714,613 2,889 66,082 255,377 (4,837) 356,198 422,611 4,405,011 34,500 (34,500) (1,000,000) (34,500) $ 34,500 (1,000,000) 2,889 31,582 255,377 29,663 356,198 (577,389) 4,405,011 142,446 320,699 1,264,400 159,650 3,091,378 1,631,948 21,299,033 1,054,559 $ 25,704,044 145,335 $ 352,281 $ 1,519,777 $ 189,313 $ 3,447,576 $ (continued on next page) 163 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Library District Grants Non Departmental Grants Medical Examiner Officer Safety Equipment Opioid Abatement REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental 70,236 2,156,481 11,218,065 Charges for services Fines and forfeits 32,447 Special assessment Interest income 2,309 1,605 (339,630) 34,052 10,878,435 Miscellaneous 72,545 Total revenues 2,156,481 EXPENDITURES Current: General government 2,156,481 Public safety Highways and streets Health, welfare and sanitation 20,687 Culture and recreation 470,893 25,001 Education Debt service: Principal Interest 51,858 Capital outlay 25,001 Total expenditures 72,545 2,156,481 470,893 Excess (deficiency) of revenues over expenditures (25,001) 34,052 10,407,542 (25,001) 34,052 10,407,542 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 80,822 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ (25,001) $ $ 164 $ 114,874 $ 10,407,542 SPECIAL REVENUE FUNDS Parks and Recreation Grants Palo Verde $ $ Parks Donations $ Parks Enhancement $ Parks Souvenir $ Planning and Development Fees Pension Reserve $ $ 9,797,551 710,709 21,285 7,913,305 329,819 9,435,427 38,748 21,009 731,718 21,285 6,406 39,718 47,690 125,496 789 11,186,061 405,389 86,150 46,124 8,086,491 330,608 11,186,061 19,763,265 260,000,000 15,480,025 713,099 66,917 18,019 7,860,749 116,633 334,476 635,309 560,251 713,099 183,550 18,019 8,496,058 334,476 260,000,000 16,040,276 18,619 (162,265) 28,105 (409,567) (3,868) (248,813,939) 3,722,989 14,500 14,500 $ 18,619 (162,265) 28,105 (395,067) (3,868) (248,813,939) 3,722,989 1,004,337 (20,500) 521,815 2,804,483 28,669 436,303,250 36,980,203 1,022,956 $ (182,765) $ 549,920 $ 2,409,416 $ 24,801 $ 187,489,311 $ 40,703,192 (continued on next page) 165 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Public Defender Fill the Gap Probate Fees Public Defender Grants Public Defender Training Public Health Fees Public Health Grants REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 1,851,042 Charges for services 389,311 1,528,009 4,060 (4,733) 166,551 85,283,338 8,937,841 Fines and forfeits Special assessment Interest income 178,463 3,258 3,280 147,837 10,065 3,030 9,095,743 85,286,368 9,539,127 87,010,329 Principal 277,347 302,193 Interest 75,816 284,288 52,485 16,283 Miscellaneous Total revenues 393,371 1,523,276 2,029,505 173,089 389,479 966,629 1,819,240 302,211 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: 210,266 Capital outlay Total expenditures 389,479 966,629 2,029,506 302,211 10,176,578 87,381,290 3,892 556,647 (1) (129,122) (1,080,835) (2,094,922) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 954 Transfers out Financed purchase agreements Lease agreements 954 Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 3,892 556,647 (1) (129,122) (1,079,881) (2,094,922) 238,202 756,397 1 253,096 11,004,983 (24,020,960) 29,411 (285,049) 9,954,513 $ (26,400,931) Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 242,094 $ 1,313,044 166 $ $ 123,974 $ SPECIAL REVENUE FUNDS Recorder’s Surcharge $ School Communication Expense $ School Grants $ School Transportation $ 4,547,556 2,875,416 Sheriff Donations $ Sheriff Jail Enhancement Sheriff Grants $ 8,440 $ 12,676,971 1,039,593 1,192,221 5,854 147,469 36,951 35,550 3,059,836 1,227,771 4,547,556 60,872 (9,840) 34,875 152,686 28,101 35,422 69,312 30,889 12,857,758 1,075,015 12,221,472 644,030 5,867,029 1,967,109 5,574,380 19,108 5,867,029 1,967,109 5,574,380 19,108 (2,807,193) (739,338) (1,026,824) 50,204 (2,807,193) (739,338) (1,026,824) 3,762,000 1,927,965 (253,543) 1,188,627 $ (1,280,367) 1,238,223 $ 954,807 $ $ 13,459,695 644,030 30,889 (601,937) 430,985 50,204 30,889 (601,937) 430,985 523,947 478,244 (158,332) 3,264,848 574,151 $ 509,133 $ (760,269) $ 3,695,833 (continued on next page) 167 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Sheriff Towing and Impound Sheriff RICO Small School Service Spousal Maintenance Enforcement Enhancement Spur Cross Ranch Conservation $ $ Street Lighting District REVENUES Taxes $ $ $ $ Licenses and permits Intergovernmental 109,657 Charges for services Fines and forfeits 108,515 328,264 195,437 Special assessment 4,560,197 Interest income 298 59,313 4,305 4,079 29,697 64,284 195,437 59,611 113,962 112,594 357,961 4,624,481 195,437 49,999 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety 122,548 5,294,029 Highways and streets Health, welfare and sanitation Culture and recreation 257,085 Education 115,796 Debt service: Principal Interest 363,660 Capital outlay 195,437 Total expenditures 49,999 115,796 122,548 620,745 5,294,029 9,612 (1,834) (9,954) (262,784) (669,548) 9,612 (1,834) (9,954) (262,784) (669,548) 18,629 221,246 211,043 635,722 3,427,465 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 60,000 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 60,000 $ 28,241 $ 168 219,412 $ 201,089 $ 372,938 $ 2,757,917 SPECIAL REVENUE FUNDS Superior Court Building Repair $ Superior Court Fill the Gap $ Superior Court Judicial Enhancement Superior Court Grants $ $ Superior Court Special Revenue $ Taxpayer Information $ 3,935,677 1,816,218 1,077,360 486,013 5,044,711 349,426 (8,995) 983 19,712 2,000 10,468 37,502 4,357 (12,471) (8,995) 1,817,201 5,034,749 496,481 5,086,570 336,955 541,229 1,821,648 5,010,386 478,784 4,971,344 541,229 1,821,648 5,010,386 478,784 4,971,344 12,057 (550,224) (4,447) 24,363 17,697 115,226 324,898 449,776 (4,447) 24,363 17,697 115,226 324,898 28,416 (15,650) (54,187) 897,605 3,830,592 345,867 12,057 1,000,000 1,000,000 $ 478,192 $ (20,097) $ (29,824) $ 915,302 $ 3,945,818 $ 670,765 (continued on next page) 169 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 SPECIAL REVENUE FUNDS Transportation Grants Victim Compensation Interest Transportation Operations Victim Compensation Restitution Victim Victim Location REVENUES Taxes $ $ Licenses and permits $ $ $ 4,074,335 Intergovernmental 2,986,017 151,404,201 Charges for services 136,089 Fines and forfeits 165,744 Special assessment Interest income 2,244,995 740,103 34,945 3,691 788 8,505 2,986,017 158,599,723 34,945 170,223 8,505 2,592,181 92,231,782 2,592,181 101,552,805 393,836 57,046,918 34,945 170,223 8,505 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest 9,321,023 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out (63,446,544) Financed purchase agreements Lease agreements (63,446,544) Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2022 393,836 (6,399,626) 34,945 170,223 8,505 (433,618) 73,713,302 905,832 428,630 32,883 Change in nonspendable resources: (102,711) Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ (39,782) $ 67,210,965 170 $ 940,777 $ 598,853 $ 41,388 SPECIAL REVENUE FUNDS Waste Management $ Waste Tire $ DEBT SERVICE FUNDS County Improvement Debt Total $ 109,224,774 $ Pledged Revenue Debt $ Total $ 53,477,097 6,349,852 438,507,691 359,925 106,978,428 6,623,669 4,560,197 6,659 119,674 7,571 18,658,993 10,940,906 4,179,308 (4,862,436) (683,128) 126,333 6,717,348 748,971,755 4,179,308 (4,862,436) (683,128) 1,850,251 121,218,512 249,070,000 370,288,512 713,957 17,253,967 2,756,239 5,261,294 8,017,533 8,118,844 403,645,841 94,823,963 45,103 6,045,203 286,456,191 50,798,886 18,824,161 45,103 6,045,203 882,486,061 123,974,751 254,331,294 378,306,045 81,230 672,145 (133,514,306) (119,795,443) (259,193,730) (378,989,173) 10,149,327 29,945,614 509,956,173 539,901,787 (94,040,146) 29,945,614 509,956,173 539,901,787 250,762,443 160,912,614 (104,189,473) 81,230 672,145 (227,554,452) (89,849,829) 585,146 2,646,041 699,890,126 176,909,736 176,909,736 (805,211) $ 666,376 $ 3,318,186 $ 471,530,463 $ 87,059,907 $ 250,762,443 $ 337,822,350 (continued on next page) 171 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2023 CAPITAL PROJECTS FUNDS Detention Technology Capital Improvement Detention Capital Projects Flood Control Capital Projects Library District Capital Improvement REVENUES Taxes $ $ $ $ Licenses and permits Intergovernmental 7,534,486 Charges for services Fines and forfeits Special assessment Interest income 133,939 Miscellaneous 7,534,486 Total revenues 133,939 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Capital outlay Total expenditures 1,897,310 72,887,990 1,897,310 72,887,990 (1,897,310) (65,353,504) Excess (deficiency) of revenues over expenditures 133,939 OTHER FINANCING SOURCES (USES) Transfers in 4,202,474 Transfers out (39,875,548) (150,965) 38,589,812 Total other financing sources (uses) (35,673,074) (150,965) 38,589,812 Net change in fund balances (37,570,384) (150,965) (26,763,692) 133,939 101,797,090 153,795 109,460,349 10,079,140 Financed purchase agreements Lease agreements Fund balances (deficit), July 1, 2022 Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2023 $ 64,226,706 $ 172 2,830 $ 82,696,657 $ 10,213,079 CAPITAL PROJECTS FUNDS Sheriff Mash Capital Donation $ Special Improvement Districts $ 161,402 Technology Capital Improvement $ Transportation Capital Projects $ Total Nonmajor Governmental Funds Total $ 161,402 $ 109,386,176 53,477,097 12,911,480 20,445,966 458,953,657 30,517,053 30,517,053 137,495,481 6,623,669 4,560,197 5,052 20,857 54,396 5,052 236,655 59,250 159,848 113,646 18,135,713 11,054,552 43,487,783 51,397,915 799,686,542 8,118,844 403,645,841 94,823,963 286,456,191 50,798,886 18,824,161 372,138,763 5,052 315,488 14,326,486 103,933,806 193,361,080 8,731,490 210,615,047 315,488 14,326,486 103,933,806 193,361,080 1,454,153,186 (78,833) (14,326,486) (60,446,023) (141,963,165) (654,466,644) 12,593,528 63,446,544 118,832,358 668,883,472 (19,611,484) (59,637,997) (163,827,470) 371,073 371,073 371,073 (6,646,883) 63,446,544 59,565,434 505,427,075 5,052 (78,833) (20,973,369) 3,000,521 (82,397,731) (149,039,569) 277,304 1,170,332 102,816,081 32,998,158 358,752,249 1,235,552,111 (805,211) $ 282,356 $ 1,091,499 $ 81,842,712 $ 35,998,679 173 $ 276,354,518 $ 1,085,707,331 174 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Adult Probation Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 7,606,368 $ 7,606,373 $ 6,678,854 $ (927,519) Fines and forfeits 1,800,000 1,800,000 2,010,980 210,980 Interest income 19,997 9,426,365 19,992 9,426,365 39,408 8,729,242 19,416 (697,123) 10,026,365 9,826,365 8,159,361 1,667,004 200,000 10,226,365 400,000 10,226,365 8,159,361 400,000 2,067,004 Excess (deficiency) of revenues over expenditures (800,000) (800,000) 569,881 1,369,881 Net change in fund balances (800,000) (800,000) 569,881 1,369,881 Total revenues EXPENDITURES Current: Public safety Capital outlay Total expenditures Fund balance, July 1, 2022 Fund balance, June 30, 2023 3,685,155 $ 2,885,155 175 3,685,155 $ 2,885,155 3,258,098 $ 3,827,979 (427,057) $ 942,824 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Adult Probation Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Intergovernmental Total revenues 373 $ 373 12,222 12,222 2,972,917 2,972,917 2,972,917 2,972,917 2,155,997 2,168,592 (816,920) (804,325) 2,972,917 2,972,917 3,450,648 3,450,648 2,199,368 2,199,368 1,251,280 1,251,280 (477,731) (30,776) 446,955 (477,731) (30,776) 446,955 (44,091) (43,026) EXPENDITURES Current: Public Safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 (44,091) $ (44,091) 176 $ (521,822) $ (73,802) 1,065 $ 448,020 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Air Quality Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 568,500 Fines & forfeit $ 251,000 568,500 $ 251,004 809,650 $ 234,012 241,150 (16,992) Interest income 106,700 106,704 172,844 66,140 License & permits 12,610,300 13,500 12,610,292 13,500 13,685,117 434,473 1,074,825 420,973 13,550,000 13,550,000 15,336,096 1,786,096 18,487,215 18,487,207 Miscellaneous Total revenues EXPENDITURES Current: 14,457,892 4,029,315 Debt service Health welfare and sanitation 106,315 (106,315) Debt service interest (6,802) 245,100 280,000 280,008 6,802 34,908 Total expenditures 18,767,215 18,767,215 14,605,917 4,161,298 Excess (deficiency) of revenues over expenditures (5,217,215) (5,217,215) 730,179 5,947,394 36,000 36,000 36,000 36,000 (5,181,215) 766,179 Capital outlay OTHER FINANCING SOURCES Transfer in Total other financing sources Net change in fund balances (5,217,215) Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 10,816,631 5,599,416 177 $ 10,816,631 5,635,416 $ 12,243,528 13,009,707 5,947,394 $ 1,426,897 7,374,291 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Air Quality Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 5,354,343 $ 5,354,343 $ 3,909,581 $ (1,444,762) 5,354,343 5,354,343 3,909,581 (1,444,762) 5,242,343 112,000 5,242,335 112,008 3,997,674 74,900 1,244,661 37,108 5,354,343 5,354,343 4,072,574 1,281,769 (162,993) (162,993) EXPENDITURES Current: Health Welfare Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 659,323 659,323 $ 178 $ 659,323 659,323 $ (162,993) (162,993) (548,945) (711,938) (1,208,268) (1,371,261) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Care Donations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 304,100 $ 358,100 625 321,435 304,100 358,100 322,060 (36,040) 304,100 358,100 318,829 39,271 304,100 358,100 318,829 39,271 Excess of revenues over expenditures 3,231 3,231 Net change in fund balances 3,231 3,231 Miscellaneous Total revenues $ $ 625 (36,665) EXPENDITURES Current: Health welfare and sanitation Total expenditures Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 19,911 $ 19,911 179 19,911 $ 19,911 (2,938) $ 293 (22,849) $ (19,618) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Control Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 150,000 150,000 Total revenues $ 263,200 263,200 $ 121,600 121,600 $ (141,600) (141,600) EXPENDITURES Current: Health welfare and sanitation 150,000 150,000 Total expenditures 263,200 263,200 121,600 121,600 141,600 141,600 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 54,054 54,054 $ 180 $ 54,054 54,054 $ $ (54,054) (54,054) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Animal Control License/Shelter Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 6,020,031 $ 6,020,031 $ 5,011,069 $ (1,008,962) Fines & forfeit 909 912 296 (616) Interest income 1,349 1,344 (16,128) (17,472) License & permit 7,253,588 65,925 7,253,599 65,916 6,963,563 59,235 (290,036) (6,681) 13,341,802 13,341,802 12,018,035 (1,323,767) 19,652,093 19,884,480 18,474,190 1,410,290 Total expenditures 350,000 20,002,093 350,000 20,234,480 75,043 18,549,233 274,957 1,685,247 Deficiency of revenues under expenditures (6,660,291) (6,892,678) (6,531,198) 361,480 6,660,291 6,660,291 6,892,678 6,892,678 6,583,720 6,583,720 (308,958) (308,958) 52,522 52,522 361,693 (41,430) Miscellaneous Total revenues EXPENDITURES Current: Health welfare and sanitation Capital outlay OTHER FINANCING SOURCES Transfer in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 403,123 403,123 Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2023 $ 403,123 181 $ 403,123 $ (2,649) 411,566 $ (2,649) 8,443 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Ballpark Operations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ License & permits $ $ 21,982 250,000 250,000 250,000 250,000 3 271,985 3 21,985 250,000 250,000 250,000 250,000 35,566 35,566 214,434 214,434 236,419 236,419 236,419 236,419 Miscellaneous Total revenues 21,982 250,000 EXPENDITURES Current: Culture and recreation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 1,619,874 $ 1,619,874 182 1,619,874 $ 1,619,874 1,592,232 $ 1,828,651 (27,642) $ 208,777 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Cactus League Operations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ Taxes $ $ 71,539 $ 71,539 6,500,000 6,500,000 9,000,000 9,000,000 7,660,619 7,732,158 (1,339,381) (1,267,842) Culture and recreation 6,500,000 9,000,000 7,670,619 1,329,381 Total expenditures 6,500,000 9,000,000 7,670,619 1,329,381 61,539 61,539 Total revenues EXPENDITURES Current: Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ $ 183 $ 61,539 61,539 5,159,297 5,220,836 5,159,297 5,220,836 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual CDBG Housing Trust Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 7,833,112 7,833,112 $ 1,531,269 1,531,269 $ 4,557,019 4,557,019 $ 3,025,750 3,025,750 EXPENDITURES Current: Health Welfare and Sanitation 7,833,112 7,833,112 Total expenditures 1,531,269 1,531,269 Excess of revenues over expenditures 1,476,597 1,476,597 54,672 54,672 3,080,422 3,080,422 OTHER FINANCING USES Transfers Out Total other financing uses Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ (285,836) (285,836) 184 $ (1,118,617) (1,118,617) (1,118,617) (1,118,617) (1,118,617) (285,836) (1,404,453) 1,961,805 (1,961,805) $ $ 3,080,422 (1,675,969) 1,404,453 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Check Enforcement Program Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 31,000 Interest income $ 1,000 31,000 $ 7,799 $ (23,201) 1,000 3,412 2,412 32,000 32,000 19,237 30,448 19,237 (1,552) Total expenditures 58,501 58,501 58,501 58,501 Excess (deficiency) of revenues over expenditures (26,501) (26,501) 30,448 56,949 Net change in fund balances (26,501) (26,501) 30,448 56,949 55,796 55,796 58,284 Miscellaneous Total revenues EXPENDITURES Current: Public Safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 29,295 185 $ 29,295 58,501 58,501 $ 88,732 2,488 $ 59,437 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Child Support Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 31,000 $ 31,000 $ Interest Income 31,000 31,000 Total expenditures 500,000 500,000 500,000 500,000 Excess (deficiency) of revenues over expenditures (469,000) (469,000) Total revenues 25,438 $ 17,071 42,509 (5,562) 17,071 11,509 EXPENDITURES Current: Public safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 500,000 500,000 42,509 511,509 (469,000) (469,000) 42,509 511,509 1,397,305 1,397,305 1,377,720 (19,585) $ 928,305 186 $ 928,305 $ 1,420,229 $ 491,924 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of Court Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,818,927 $ 1,816,219 $ Interest income 1,816,218 $ (1) 1,818,927 1,816,219 (9,136) 1,807,082 1,818,927 1,818,927 1,816,219 1,816,219 1,808,304 1,808,304 7,915 7,915 Excess (deficiency) of revenues over expenditures (1,222) (1,222) Net change in fund balances (1,222) (1,222) Total revenues (9,136) (9,137) EXPENDITURES Current: Public safety Total expenditures Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ $ 187 $ (1,222) $ (1,222) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 1,161,436 1,161,436 $ 1,402,221 1,402,221 $ 1,103,531 1,103,531 $ (298,690) (298,690) EXPENDITURES Current: Public safety 1,161,436 1,161,436 1,201,037 1,201,037 201,184 201,184 Excess (deficiency) of revenues over expenditures (97,506) (97,506) Net change in fund balances (97,506) (97,506) Total expenditures Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ (68,355) (68,355) 188 1,402,221 1,402,221 $ (68,355) (68,355) $ (87,506) (185,012) $ (19,151) (116,657) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court Judicial Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 800,000 $ 800,000 $ Interest income 794,188 $ (5,812) 800,000 800,000 49,456 843,644 Total expenditures 2,300,000 2,300,000 2,300,000 2,300,000 1,039,175 1,039,175 1,260,825 1,260,825 Deficiency of revenues under expenditures (1,500,000) (1,500,000) (195,531) 1,304,469 Net change in fund balances (1,500,000) (1,500,000) (195,531) 1,304,469 3,073,487 3,073,487 3,001,596 Total revenues 49,456 43,644 EXPENDITURES Current: Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,573,487 189 $ 1,573,487 $ 2,806,065 (71,891) $ 1,232,578 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court SRF Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 3,170,000 $ 3,170,000 $ Interest income Miscellaneous Total revenues 3,035,663 $ (134,337) 97,222 71,983 97,222 71,983 3,170,000 3,170,000 3,204,868 34,868 EXPENDITURES Current: 6,670,000 6,670,000 4,204,262 2,465,738 Total expenditures 6,670,000 6,670,000 4,204,262 2,465,738 Deficiency of revenues under expenditures (3,500,000) (3,500,000) (999,394) 2,500,606 Net change in fund balances (3,500,000) (3,500,000) (999,394) 2,500,606 5,178,923 5,178,923 4,895,485 Public Safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,678,923 190 $ 1,678,923 $ 3,896,091 (283,438) $ 2,217,168 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Conciliation Court Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,581,970 1,392 $ 1,581,972 1,390 $ 1,537,950 20,988 $ (44,022) 19,598 1,583,362 1,583,362 1,558,938 (24,424) 1,983,362 1,983,362 1,565,836 417,526 Total expenditures 1,983,362 1,983,362 1,565,836 417,526 Deficiency of revenues under expenditures (400,000) (400,000) (6,898) 393,102 Total revenues EXPENDITURES Current: Public safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 191 (400,000) (400,000) (6,898) 393,102 1,992,573 1,592,573 1,992,573 1,592,573 1,843,461 1,836,563 (149,112) 243,990 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Correctional Health Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Miscellaneous $ Total revenues 7,200,000 7,200,000 $ 7,200,000 7,200,000 $ 5,097,017 5,097,017 $ (2,102,983) (2,102,983) EXPENDITURES Current: Health welfare and sanitation 7,200,000 7,200,000 Total expenditures 7,200,000 7,200,000 5,097,017 5,097,017 2,102,983 2,102,983 Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2022 Fund balance (deficit), June 30, 2023 841 $ 192 841 841 $ 841 (841) $ $ (841) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,425,000 $ 1,425,000 $ 1,343,133 $ (81,867) 3,000 1,428,000 3,000 1,428,000 10,963 1,354,096 7,963 (73,904) Total expenditures 1,534,223 1,534,223 1,534,223 1,534,223 1,324,094 1,324,094 210,129 210,129 Excess (deficiency) of revenues over expenditures (106,223) (106,223) 30,002 136,225 Net change in fund balances (106,223) (106,223) 30,002 136,225 251,908 251,908 392,200 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 145,685 193 $ 145,685 $ 422,202 140,292 $ 276,517 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 7,117,254 7,117,254 $ 7,117,254 7,117,254 $ 6,858,842 6,858,842 $ (258,412) (258,412) EXPENDITURES Current: Public safety 7,117,254 7,117,254 Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 (94,222) (94,222) $ 194 $ 7,143,133 7,143,133 6,882,287 6,882,287 260,846 260,846 (25,879) (23,445) 2,434 (25,879) (23,445) 2,434 (94,222) (120,101) (452,021) (475,466) (357,799) (355,365) $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Attorney RICO Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 1,500,000 Interest income $ $ 707,108 $ (772,892) 75,000 114,899 39,899 1,575,000 20,000 1,575,000 47,238 869,245 27,238 (705,755) 1,350,000 1,350,000 181,004 1,168,996 225,000 1,575,000 225,000 1,575,000 615,541 796,545 (390,541) 778,455 72,700 72,700 72,700 72,700 Miscellaneous Total revenues 1,480,000 75,000 EXPENDITURES Current: Public safety Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 6,639,367 $ 6,639,367 195 6,639,367 $ 6,639,367 6,712,626 $ 6,785,326 73,259 $ 145,959 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Court Document Retrieval Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,128,342 $ 1,128,342 $ Interest income 1,076,824 $ (51,518) 1,128,342 1,128,342 42,305 1,119,129 Total expenditures 2,128,342 2,128,342 2,128,342 2,128,342 1,783,933 1,783,933 344,409 344,409 Deficiency of revenues under expenditures (1,000,000) (1,000,000) (664,804) 335,196 Net change in fund balances (1,000,000) (1,000,000) (664,804) 335,196 1,418,552 1,418,552 1,386,301 Total revenues 42,305 (9,213) EXPENDITURES Current: Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 418,552 196 $ 418,552 $ 721,497 (32,251) $ 302,945 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Criminal Justice Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues (2,000) 926,000 $ (2,000) 926,000 $ 2,778 901,338 $ 4,778 (24,662) 924,000 924,000 904,116 (19,884) 924,000 924,000 477,374 446,626 924,000 924,000 477,374 446,626 426,742 426,742 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 549,291 $ 549,291 197 549,291 $ 549,291 $ 426,742 426,742 384,031 (165,260) 810,773 $ 261,482 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Domestic Relations Mediation Education– Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 192,998 552 Interest income Total revenues $ 192,996 554 $ 147,572 3,876 $ (45,424) 3,322 193,550 193,550 151,448 (42,102) 193,550 193,550 129,024 64,526 193,550 193,550 129,024 64,526 22,424 22,424 22,424 22,424 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 183,929 183,929 $ 198 $ 183,929 183,929 $ 208,318 230,742 $ 24,389 46,813 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Educational Supplemental Program – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental $ $ (10,546) $ (10,546) 1,088,995 1,088,995 1,088,995 1,088,995 1,872,861 1,862,315 783,866 773,320 Total expenditures 788,907 788,907 811,392 811,392 767,075 767,075 44,317 44,317 Excess of revenues over expenditures 300,088 277,603 1,095,240 817,637 300,088 277,603 1,095,240 817,637 1,156,074 1,456,162 1,156,074 1,433,677 2,132,189 3,227,429 Total revenues EXPENDITURES Current: Education Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 199 $ $ $ 976,115 1,793,752 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Elections Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 2,612,621 $ 2,760,654 $ 48,182 107,096 $ 48,182 (2,653,558) 2,612,621 2,760,654 155,278 (2,605,376) 437,128 2,175,493 585,157 2,175,497 83,277 501,880 2,175,497 2,612,621 2,760,654 83,277 2,677,377 72,001 72,001 EXPENDITURES Current: General government Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 $ 1,805,888 1,805,888 200 $ 1,805,888 1,805,888 $ 72,001 72,001 (72,001) (1,877,889) (1,805,888) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Emergency Management Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 271,657 Interest income Intergovernmental Total revenues $ 271,656 $ 259,820 $ (11,836) 300 300 4,143,954 4,415,911 5,161,955 5,433,911 2,540,877 2,800,697 (2,621,078) (2,633,214) (300) 4,484,899 3,649,168 1,715,732 1,933,436 4,484,899 1,853,731 5,502,899 1,588,152 3,303,884 265,579 2,199,015 (68,988) (68,988) (503,187) (434,199) (68,988) (68,988) (503,187) (434,199) (521,938) (521,938) (973,504) EXPENDITURES Current: Public safety Capital Outlay Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ (590,926) 201 $ (590,926) $ (1,476,691) (451,566) $ (885,765) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Environmental Services Environment Health Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 6,662,997 $ 6,662,997 $ 6,431,992 $ (231,005) Fines & forfeit 133,000 133,000 368,553 Interest income 155,136 155,136 266,858 111,722 16,691,154 16,691,154 17,779,089 63,609 1,087,935 63,609 23,642,287 23,642,287 24,910,101 1,267,814 25,967,855 25,967,855 24,896,995 1,070,860 Debt service 86,165 (86,165) Debt service interest (8,336) 96,970 Licenses and permits Miscellaneous Total revenues 235,553 EXPENDITURES Current: Health welfare and sanitation 300,011 300,011 8,336 203,041 Total expenditures 26,267,866 26,267,866 25,194,537 1,073,329 Deficiency of revenues under expenditures (2,625,579) (2,625,579) (284,436) 2,341,143 51,825 51,825 51,825 51,825 Capital outlay OTHER FINANCING SOURCES Transfer in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (2,625,579) (2,573,754) (232,611) 17,148,132 14,522,553 17,148,132 14,574,378 17,645,241 17,412,630 202 $ $ 2,341,143 $ 497,109 2,838,252 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Expedited Child Support Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original REVENUES Charges for services $ Interest income Total revenues 635,784 Actual Amounts Final $ 635,784 $ 527,955 Positive (Negative) $ (107,829) 1,716 637,500 1,716 637,500 (9,946) 518,009 (11,662) (119,491) 637,500 637,500 449,820 187,680 637,500 637,500 449,820 187,680 68,189 68,189 68,189 68,189 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 413,197 413,197 203 $ 413,197 413,197 $ 418,174 486,363 $ 4,977 73,166 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Fines & forfeit 27,294 $ 27,294 10,079 10,079 Interest income 900,000 900,000 2,222,298 1,322,298 Intergovernmental 205,499 232,806 205,648 (27,158) License & permit 375,000 375,000 927,442 552,442 Miscellaneous 241,191 241,191 2,909,238 2,668,047 75,023,448 76,745,138 74,996,141 76,745,138 75,517,704 81,819,703 521,563 5,074,565 45,789,361 2,346,407 45,789,361 2,346,407 34,044,133 1,258,619 11,745,228 1,087,788 Total expenditures 48,135,768 48,135,768 35,302,752 12,833,016 Excess of revenues over expenditures 28,609,370 28,609,370 46,516,951 17,907,581 (38,589,812) (38,589,812) (38,589,812) (38,589,812) (38,589,812) (38,589,812) Taxes Total revenues EXPENDITURES Current: Public safety Capital outlay OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2022 (9,980,442) (9,980,442) 7,927,139 17,907,581 30,338,450 30,338,450 29,091,383 (1,247,067) (37,103) (37,103) Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2023 $ 20,358,008 204 $ 20,358,008 $ 36,981,419 $ 16,623,411 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 70,000 Total revenues $ 117,000 $ 106,524 $ (10,476) 70,000 117,000 106,524 (10,476) EXPENDITURES Current: 55,000 102,000 102,001 (1) Total expenditures 55,000 102,000 102,001 (1) Excess of revenues over expenditures 15,000 15,000 4,523 (10,477) Net change in fund balances 15,000 15,000 4,523 (10,477) Public safety Fund balance (deficit), July 1, 2022 Fund balance (deficit), June 30, 2023 3,176 18,176 $ 205 $ 3,176 18,176 (4,523) $ $ (7,699) (18,176) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Human Services Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental $ $ $ 484,286 173,559,712 111,130,970 (62,428,742) 167,257,869 173,559,712 16,370 111,631,626 16,370 (61,928,086) 168,397,080 174,698,923 114,482,164 60,216,759 1,033,327 (1,033,327) 557,325 (557,325) Miscellaneous Total revenues 484,286 167,257,869 EXPENDITURES Current: Health welfare and sanitation Debt service Debt service interest Capital outlay Total expenditures Deficiency of revenues under expenditures 170,000 168,567,080 170,000 174,868,923 42,305 116,115,121 127,695 58,753,802 (1,309,211) (1,309,211) (4,483,495) (3,174,284) 1,309,211 1,309,211 2,427,828 2,427,828 2,427,828 2,427,828 1,118,617 (2,055,667) (6,249,084) (6,249,084) (8,789,914) OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ (6,249,084) 206 $ (5,130,467) $ (10,845,581) (3,174,284) (2,540,830) $ (5,715,114) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Health Services Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 275,000 5,500 $ 275,000 5,500 $ 311,186 10,328 $ 36,186 4,828 280,500 280,500 321,514 41,014 321,600 397,524 173,403 224,121 Total expenditures 75,924 397,524 397,524 173,403 224,121 Excess (deficiency) of revenues over expenditures (117,024) (117,024) 148,111 265,135 (117,024) (117,024) 148,111 265,135 1,097,228 1,097,228 870,723 (226,505) Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 207 980,204 $ 980,204 $ 1,018,834 $ 38,630 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Services Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 13,878,921 $ 13,878,921 $ $ 538,734 152,016 145,598 2,430 (6,418) 2,430 14,030,937 14,030,937 14,565,683 534,746 14,530,937 14,530,937 11,803,481 6,284 2,727,456 (6,284) 14,530,937 14,530,937 11,809,765 2,721,172 (500,000) (500,000) 2,755,918 3,255,918 Miscellaneous Total revenues 14,417,655 152,016 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 (500,000) (500,000) 2,755,918 3,255,918 16,008,565 16,008,565 16,506,138 497,573 Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2023 (247,174) $ 15,508,565 208 $ 15,508,565 $ 19,014,882 (247,174) $ 3,506,317 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Courts Judicial Enhancement – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income Total revenues 729,839 $ 729,839 $ 689,575 $ (40,264) 7,344 737,183 7,344 737,183 51,437 741,012 44,093 3,829 737,183 737,183 737,183 737,183 281,480 281,480 455,703 455,703 459,532 459,532 459,532 459,532 EXPENDITURES Current: Public Safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 4,599,630 4,599,630 209 $ 4,599,630 4,599,630 $ 4,635,992 5,095,524 $ 36,362 495,894 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Courts Special Revenue – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 6,784,801 $ 6,784,801 $ $ (381,528) 20,616 19,195 79,062 (1,421) 79,062 6,805,417 6,805,417 6,501,530 (303,887) Intergovernmental Total revenues 6,403,273 20,616 EXPENDITURES Current: 7,005,417 7,005,417 6,626,399 379,018 Total expenditures 7,005,417 7,005,417 6,626,399 379,018 Deficiency of revenues under expenditures (200,000) (200,000) (124,869) 75,131 Public safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (200,000) (200,000) (124,869) 75,131 2,245,041 2,045,041 2,245,041 2,045,041 1,696,167 1,571,298 (548,874) (473,743) 210 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Reinvestment Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Intergovernmental Total revenues $ (117,383) $ (117,383) 1,800,000 1,800,000 1,800,000 1,800,000 3,371,918 3,254,535 1,571,918 1,454,535 1,800,000 1,800,000 1,800,000 1,800,000 1,891 1,891 1,798,109 1,798,109 3,252,644 3,252,644 3,252,644 3,252,644 EXPENDITURES Current: Health Welfare and Sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 2,060,929 2,060,929 $ 211 $ 2,060,929 2,060,929 $ 3,569,814 6,822,458 $ 1,508,885 4,761,529 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Diversion Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 76,212 $ 76,212 $ 51,557 $ (24,655) Interest income 1,252 1,248 2,524 1,276 Miscellaneous 18,504 95,968 18,508 95,968 11,308 65,389 (7,200) (30,579) 95,968 95,968 95,968 95,968 62,500 62,500 33,468 33,468 2,889 2,889 Total revenues EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 145,764 $ 145,764 212 145,764 $ 145,764 $ 2,889 2,889 142,446 (3,318) 145,335 $ (429) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 12,000 $ 12,000 $ 14,959 $ 2,959 3,644,086 3,656,086 4,059,682 4,071,682 3,619,314 3,634,273 (440,368) (437,409) 4,021,428 4,437,024 3,568,191 868,833 Total expenditures 4,021,428 4,437,024 3,568,191 868,833 Excess (deficiency) of revenues over expenditures (365,342) (365,342) 66,082 431,424 Total other financing uses (15,000) (15,000) (15,000) (15,000) (34,500) (34,500) (19,500) (19,500) Net change in fund balances (380,342) (380,342) 31,582 411,924 330,950 (49,392) 330,950 (49,392) 320,699 352,281 Total revenues EXPENDITURES Current: Public safety OTHER FINANCING USES Transfers out Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 $ 213 $ $ $ (10,251) 401,673 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Probation Special Fee Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 150,432 $ 150,432 $ 83,083 $ (67,349) Fines & forfeit 1,652,244 1,652,248 1,980,083 327,835 Interest income 8,572 1,811,248 8,568 1,811,248 3,443 2,066,609 (5,125) 255,361 Total expenditures 2,111,248 2,111,248 2,111,248 2,111,248 1,811,232 1,811,232 300,016 300,016 Excess (deficiency) of revenues over expenditures (300,000) (300,000) 255,377 555,377 555,377 Total revenues EXPENDITURES Current: Public Safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (300,000) (300,000) 255,377 1,287,923 987,923 1,287,923 987,923 1,264,400 1,519,777 214 $ $ $ (23,523) 531,854 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Restitution Fund – Special Revenue Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Miscellaneous Total revenues 2,854 691 $ 2,854 691 3,545 3,545 EXPENDITURES Current: 50,000 50,000 8,382 41,618 Total expenditures 50,000 50,000 8,382 41,618 Deficiency of revenues under expenditures (50,000) (50,000) (4,837) 45,163 15,000 15,000 34,500 19,500 15,000 15,000 34,500 19,500 64,663 Public safety OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (35,000) (35,000) 29,663 148,519 113,519 148,519 113,519 159,650 189,313 215 $ $ $ 11,131 75,794 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Lake Pleasant Recreation Services Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest Income 4,049,013 $ 4,049,013 $ 4,550,356 $ 501,343 2,609 2,609 31,114 206,046 28,505 206,046 4,051,622 4,051,622 4,787,516 735,894 4,696,622 722,500 4,696,622 722,500 3,986,750 444,568 709,872 277,932 Total expenditures 5,419,122 5,419,122 4,431,318 987,804 Excess (deficiency) of revenues over expenditures (1,367,500) (1,367,500) 356,198 1,723,698 Net change in fund balances (1,367,500) (1,367,500) 356,198 1,723,698 2,532,067 2,532,067 3,091,378 Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 216 1,164,567 $ 1,164,567 $ 3,447,576 559,311 $ 2,283,009 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Law Library Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,445,748 Fines & forfeit 1,445,748 $ 1,408,729 $ (37,019) 514 22,536 4 36,317 (510) 13,781 1,468,798 1,468,798 1,445,050 (23,748) 1,468,798 1,468,798 1,022,439 446,359 1,468,798 1,468,798 1,022,439 446,359 422,611 422,611 Interest Income Total revenues $ 514 22,536 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures OTHER FINANCING USES Transfers out Total other financing uses Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (500,000) (500,000) (1,000,000) (1,000,000) (500,000) (1,000,000) (577,389) 1,629,506 1,629,506 1,631,948 1,129,506 217 $ 629,506 (1,000,000) (1,000,000) $ 1,054,559 422,611 2,442 $ 425,053 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 10,122,730 $ 10,899,442 $ 7,919,605 $ (2,979,837) Fines & forfeit 160,000 159,996 176,950 16,954 Interest income 200,000 200,004 176,849 (23,155) Intergovernmental 417,874 423,062 413,077 (9,985) 587,511 25,810,976 574,238 25,847,287 386,692 26,046,451 (187,546) 199,164 37,299,091 38,104,029 35,119,624 (2,984,405) 36,889,091 38,120,843 30,543,704 7,577,139 44,904 (44,904) Miscellaneous Taxes Total revenues EXPENDITURES Current: Culture and recreation Debt service Debt service interest Capital outlay Total expenditures 410,000 410,000 13,193 112,812 (13,193) 297,188 37,299,091 38,530,843 30,714,613 7,816,230 (426,814) 4,405,011 4,831,825 (426,814) 4,405,011 4,831,825 17,471,014 21,299,033 Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 17,471,014 $ 17,471,014 218 $ 17,044,200 $ 25,704,044 3,828,019 $ 8,659,844 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 25,000 $ 25,000 $ $ (25,000) 25,000 25,000 Culture and recreation 25,000 25,000 25,001 (1) Total expenditures 25,000 25,000 25,001 (1) (25,001) (25,001) Total revenues (25,000) EXPENDITURES Current: Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 319,637 319,637 219 $ 319,637 319,637 $ (25,001) (25,001) (25,001) (319,637) (344,638) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Medical Examiner Grants – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Intergovernmental Total revenues $ 2,309 $ 2,309 216,482 216,482 220,611 220,611 70,236 72,545 (150,375) (148,066) 164,870 168,999 20,687 148,312 51,612 216,482 51,612 220,611 51,858 72,545 (246) 148,066 EXPENDITURES Current: Health welfare Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 48,102 $ 48,102 220 48,102 $ 48,102 (48,102) $ $ (48,102) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Non-Departmental Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Miscellaneous Total revenues 5,056,217 4,253,297 $ 5,056,433 4,228,297 $ 2,156,481 $ (2,899,952) (4,228,297) 9,309,514 9,284,730 2,156,481 (7,128,249) 5,000,000 4,309,514 25,327,817 4,309,514 2,156,481 23,171,336 4,309,514 9,309,514 29,637,331 2,156,481 27,480,850 EXPENDITURES Current: General government Education Total expenditures Excess (deficiency) of revenues over expenditures (20,352,601) 20,352,601 Net change in fund balances (20,352,601) 20,352,601 Fund balance (deficit), July 1, 2022 Fund balance (deficit), June 30, 2023 $ $ 221 (20,352,601) $ $ 20,352,601 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Officer Safety Equipment Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & Forfeit $ 60,000 $ 60,000 $ Interest income 32,447 $ 1,605 34,052 (27,553) 1,605 (25,948) 60,000 60,000 Total expenditures 110,000 110,000 110,000 110,000 Excess (deficiency) of revenues over expenditures (50,000) (50,000) 34,052 Net change in fund balances (50,000) (50,000) 34,052 84,052 97,261 97,261 80,822 (16,439) Total revenues EXPENDITURES Current: Public Safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 47,261 222 $ 47,261 110,000 110,000 $ 114,874 84,052 $ 67,613 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Opioid Abatement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ Intergovernmental $ $ (339,630) $ (339,630) 10,000,000 10,000,000 10,000,000 10,000,000 11,218,065 10,878,435 1,218,065 878,435 10,000,000 10,000,000 10,000,000 10,000,000 470,893 470,893 9,529,107 9,529,107 Excess of revenues over expenditures 10,407,542 10,407,542 Net change in fund balances 10,407,542 10,407,542 Total revenues EXPENDITURES Current: Health Welfare and Sanitation Total expenditures Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ $ 223 $ 10,407,542 $ 10,407,542 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Palo Verde Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 2,500 Intergovernmental Total revenues $ 2,496 $ 21,009 $ 18,513 710,709 713,209 710,713 713,209 710,709 731,718 (4) 18,509 713,209 713,209 713,209 713,209 713,099 713,099 110 110 18,619 18,619 EXPENDITURES Current: Public Safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,025,567 1,025,567 224 $ 1,025,567 1,025,567 $ 18,619 18,619 1,004,337 1,022,956 (21,230) (2,611) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks and Recreation Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 43,500 43,500 Total revenues $ 784,291 784,291 $ 21,285 21,285 $ (763,006) (763,006) EXPENDITURES Current: Culture and recreation 43,500 163,500 620,791 66,917 116,633 96,583 504,158 43,500 784,291 183,550 600,741 (162,265) (162,265) (162,265) (162,265) Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 880 880 $ 225 $ 880 880 $ (20,500) (182,765) $ (21,380) (183,645) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Donations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 5,573 32,574 Miscellaneous $ 5,573 32,574 $ 6,406 39,718 $ 833 7,144 38,147 38,147 46,124 7,977 Total expenditures 78,147 78,147 78,147 78,147 18,019 18,019 60,128 60,128 Excess (deficiency) of revenues over expenditures (40,000) (40,000) 28,105 68,105 Total revenues EXPENDITURES Current: Culture and recreation Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (40,000) (40,000) 28,105 68,105 533,906 533,906 521,815 (12,091) 493,906 226 $ 493,906 $ 549,920 $ 56,014 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 7,383,074 Interest income $ 9,014 7,383,074 $ 7,913,305 $ 530,231 9,014 47,690 38,676 7,392,088 7,392,088 125,496 8,086,491 125,496 694,403 8,407,088 429,500 8,407,088 429,500 7,860,749 635,309 546,339 (205,809) Total expenditures 8,836,588 8,836,588 8,496,058 340,530 Deficiency of revenues under expenditures (1,444,500) (1,444,500) (409,567) 1,034,933 14,500 14,500 14,500 14,500 Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (1,444,500) (1,430,000) (395,067) 2,898,756 2,898,756 2,804,483 1,454,256 227 $ 1,468,756 $ 2,409,416 1,034,933 (94,273) $ 940,660 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Souvenir Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 324,423 $ 349,423 $ Interest income Total revenues 329,819 789 $ (19,604) 789 324,423 349,423 330,608 (18,815) 328,293 328,293 353,293 353,293 334,476 334,476 18,817 18,817 (3,870) (3,870) (3,868) 2 EXPENDITURES Current: Culture and recreation Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (3,870) (3,870) (3,868) 2 90,042 90,042 28,669 (61,373) 86,172 228 $ 86,172 $ 24,801 $ (61,371) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Pension Reserve Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 11,186,061 $ 11,186,061 Total revenues 11,186,061 11,186,061 EXPENDITURES Current: Public Safety Total expenditures 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 260,000,000 Deficiency of revenues under expenditures (260,000,000) (260,000,000) (248,813,939) Net change in fund balances (260,000,000) (260,000,000) (248,813,939) 11,186,061 450,000,000 190,000,000 450,000,000 190,000,000 436,303,250 187,489,311 (13,696,750) (2,510,689) Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 229 $ $ 11,186,061 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Planning and Development Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 6,662,756 $ 6,662,746 $ 9,435,427 $ 2,772,681 Fines & forfeit 25,705 25,704 38,748 13,044 Interest income 63,751 63,756 405,389 341,633 License & permit 6,899,798 6,899,808 9,797,551 2,897,743 Miscellaneous 34,000 13,686,010 33,996 13,686,010 86,150 19,763,265 52,154 6,077,255 16,403,887 16,193,887 15,480,025 713,862 Total expenditures 805,000 17,208,887 1,015,000 17,208,887 560,251 16,040,276 454,749 1,168,611 Excess (deficiency) of revenues over expenditures (3,522,877) (3,522,877) 3,722,989 7,245,866 7,245,866 Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (3,522,877) (3,522,877) 3,722,989 34,734,320 31,211,443 34,734,320 31,211,443 36,980,203 40,703,192 230 $ $ $ 2,245,883 9,491,749 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Probate Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 390,800 1,200 $ 390,800 1,200 $ 389,311 4,060 $ (1,489) 2,860 392,000 392,000 393,371 1,371 EXPENDITURES Current: 467,000 467,000 389,479 77,521 Total expenditures 467,000 467,000 389,479 77,521 Excess (deficiency) of revenues over expenditures (75,000) (75,000) 3,892 78,892 Net change in fund balances (75,000) (75,000) 3,892 78,892 Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 231 254,960 179,960 $ 254,960 179,960 $ 238,202 242,094 $ (16,758) 62,134 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 935,537 $ 935,537 $ Interest income Total revenues 1,528,009 (4,733) $ 592,472 (4,733) 935,537 935,537 1,523,276 587,739 EXPENDITURES Current: 1,868,286 1,868,286 966,629 901,657 Total expenditures 1,868,286 1,868,286 966,629 901,657 Excess (deficiency) of revenues over expenditures (932,749) (932,749) 556,647 1,489,396 Net change in fund balances (932,749) (932,749) 556,647 1,489,396 Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 934,891 $ 232 2,142 934,891 $ 2,142 756,397 $ 1,313,044 (178,494) $ 1,310,902 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 2,983,627 2,983,627 178,463 1,851,042 2,983,627 2,983,627 2,029,505 (954,122) 4,850,995 4,850,995 1,819,240 210,266 3,031,755 (210,266) Total expenditures 4,850,995 4,850,995 2,029,506 2,821,489 Deficiency of revenues under expenditures (1,867,368) (1,867,368) (1) 1,867,367 Net change in fund balances (1,867,368) (1,867,368) (1) 1,867,367 Fund balance (deficit), July 1, 2022 7,971,874 7,971,874 1 (7,971,873) Intergovernmental Total revenues $ $ $ 178,463 (1,132,585) EXPENDITURES Current: Public safety Capital Outlay Fund balance, June 30, 2023 $ 6,104,506 233 $ 6,104,506 $ $ (6,104,506) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Defender Training Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 3,258 $ 3,258 Intergovernmental 201,828 201,828 166,551 (35,277) Miscellaneous 13,000 214,828 13,000 214,828 3,280 173,089 (9,720) (41,739) Total revenues EXPENDITURES Current: 385,141 385,141 302,211 82,930 385,141 385,141 302,211 82,930 Deficiency of revenues under expenditures (170,313) (170,313) (129,122) 41,191 Net change in fund balances (170,313) (170,313) (129,122) 41,191 171,903 1,590 171,903 1,590 253,096 123,974 Public safety Total expenditures Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 234 $ $ $ 81,193 122,384 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Health Fees Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 9,208,931 $ 9,208,931 $ 8,937,841 $ (271,090) Interest income 60,000 60,000 147,837 87,837 Miscellaneous 3,120 9,272,051 3,120 9,272,051 10,065 9,095,743 6,945 (176,308) 9,330,651 9,583,532 9,539,127 44,405 277,347 (277,347) Total revenues EXPENDITURES Current: Health, welfare, and sanitation Debt service Debt service interest 630,000 630,000 75,816 284,288 (75,816) 345,712 Total expenditures 9,960,651 10,213,532 10,176,578 36,954 Deficiency of revenues under expenditures (688,600) (941,481) (1,080,835) (139,354) 1,000 1,000 954 (46) 1,000 1,000 954 (46) Capital outlay OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances (687,600) (940,481) (1,079,881) (139,400) Fund balance, July 1, 2022 6,459,294 6,459,294 11,004,983 4,545,689 Change in nonspendable resources: 29,411 Increase in inventories Fund balance, June 30, 2023 $ 5,771,694 235 $ 5,518,813 $ 9,954,513 29,411 $ 4,435,700 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Health Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 108,768,581 $ 108,768,581 $ Miscellaneous Total revenues 85,283,338 108,768,581 108,768,581 3,030 85,286,368 107,668,581 107,668,581 $ (23,485,243) 3,030 (23,482,213) EXPENDITURES Current: 87,010,329 20,658,252 Debt service Health welfare and sanitation 302,193 (302,193) Debt service interest (52,485) 1,083,717 1,100,000 1,100,000 52,485 16,283 108,768,581 108,768,581 87,381,290 21,387,291 Excess (deficiency) of revenues over expenditures (2,094,922) (2,094,922) Net change in fund balances (2,094,922) (2,094,922) (24,020,960) (16,561,176) Capital outlay Total expenditures Fund deficit, July 1, 2022 (7,459,784) (7,459,784) Change in nonspendable resources: Decrease in inventories Fund deficit, June 30, 2023 $ (7,459,784) 236 $ (7,459,784) $ (285,049) (26,400,931) $ (285,049) (18,941,147) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Surcharge Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,500,000 Interest income $ 4,500,000 $ 2,875,416 $ (1,624,584) 7,689 7,689 147,469 36,951 139,780 36,951 4,507,689 4,507,689 3,059,836 (1,447,853) 6,117,638 6,430,612 5,867,029 563,583 Total expenditures 6,117,638 6,430,612 5,867,029 563,583 Deficiency of revenues under expenditures (1,609,949) (1,922,923) (2,807,193) (884,270) Net change in fund balances (1,609,949) (1,922,923) (2,807,193) (884,270) 3,585,397 3,585,397 3,762,000 Miscellaneous Total revenues EXPENDITURES Current: General government Capital outlay Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,975,448 237 $ 1,662,474 $ 954,807 176,603 $ (707,667) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Communication Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 50,004 $ 55,204 $ Interest income Intergovernmental Total revenues 1,192,221 $ 1,137,017 35,550 35,550 689,664 739,668 689,664 744,868 1,227,771 (689,664) 482,903 EXPENDITURES Current: 1,048,862 2,482,784 1,967,109 515,675 Total expenditures 1,048,862 2,482,784 1,967,109 515,675 Deficiency of revenues under expenditures (309,194) (1,737,916) (739,338) 998,578 (309,194) (1,737,916) (739,338) 998,578 1,562,963 1,562,963 1,927,965 Education Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 1,253,769 238 $ (174,953) $ 1,188,627 365,002 $ 1,363,580 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 4,620,996 $ Miscellaneous Total revenues 5,782,733 $ 4,547,556 $ (1,235,177) 4,620,996 13,136 5,795,869 4,547,556 (13,136) (1,248,313) 4,875,996 6,050,869 5,574,380 476,489 4,875,996 6,050,869 5,574,380 476,489 (255,000) (255,000) (1,026,824) (771,824) (255,000) (255,000) (1,026,824) (771,824) (2,879,276) (3,134,276) (2,879,276) (3,134,276) (253,543) (1,280,367) 2,625,733 1,853,909 EXPENDITURES Current: Education Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ 239 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Transportation Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Intergovernmental Total revenues 150,000 150,000 $ 60,872 8,440 $ 60,872 (141,560) 150,000 150,000 69,312 (80,688) 150,000 150,000 19,108 130,892 150,000 150,000 19,108 130,892 50,204 50,204 EXPENDITURES Current: Education Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 417,396 417,396 $ 240 $ 417,396 417,396 $ 50,204 50,204 523,947 574,151 106,551 156,755 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Donations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ 38,520 $ 38,520 $ 5,854 $ (32,666) Interest income 20,424 20,424 (9,840) (30,264) Miscellaneous 16,056 75,000 16,056 75,000 34,875 30,889 18,819 (44,111) 75,000 85,000 75,000 85,000 75,000 85,000 Total expenditures 160,000 160,000 160,000 Excess (deficiency) of revenues over expenditures (85,000) (85,000) Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 115,889 115,889 (85,000) (85,000) 30,889 404,057 404,057 478,244 319,057 241 30,889 $ 319,057 $ 509,133 74,187 $ 190,076 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 125 $ 125 $ 152,686 $ 152,561 7,060,771 21,312,262 12,676,971 28,101 (8,635,291) 28,101 7,060,896 21,312,387 12,857,758 (8,454,629) 6,768,872 426,000 21,020,363 426,000 12,221,472 1,238,223 8,798,891 (812,223) Total expenditures 7,194,872 21,446,363 13,459,695 7,986,668 Deficiency of revenues under expenditures (133,976) (133,976) (601,937) (467,961) (133,976) (133,976) (601,937) (467,961) 3,154,827 3,020,851 3,154,827 3,020,851 (158,332) (760,269) (3,313,159) (3,781,120) Miscellaneous Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ 242 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Jail Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 94,182 $ 94,188 $ 35,422 $ (58,766) 1,005,924 1,100,106 1,005,918 1,100,106 1,039,593 1,075,015 1,100,106 1,100,106 644,030 456,076 Total expenditures 2,900,000 4,000,106 2,900,000 4,000,106 644,030 2,900,000 3,356,076 Excess (deficiency) of revenues over expenditures (2,900,000) (2,900,000) 430,985 3,330,985 Net change in fund balances (2,900,000) (2,900,000) 430,985 3,330,985 3,456,179 3,456,179 3,264,848 Total revenues 33,675 (25,091) EXPENDITURES Current: Public safety Capital Outlay Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 556,179 243 $ 556,179 $ 3,695,833 (191,331) $ 3,139,654 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff RICO Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 523,651 523,651 Total revenues $ 523,651 523,651 $ 195,437 195,437 $ (328,214) (328,214) EXPENDITURES Current: Public safety 523,651 523,651 Total expenditures 523,651 523,651 195,437 195,437 328,214 328,214 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 85,548 85,548 $ 244 $ 85,548 85,548 $ 60,000 60,000 $ (25,548) (25,548) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Towing and Impound Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Miscellaneous Total revenues 50,000 50,000 $ 298 59,313 $ 298 9,313 50,000 50,000 59,611 9,611 50,000 50,000 49,999 1 50,000 50,000 49,999 1 9,612 9,612 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 1,863 1,863 $ 245 $ 1,863 1,863 $ 9,612 9,612 18,629 28,241 16,766 26,378 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Small School Service Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Intergovernmental Total revenues 109,551 109,551 $ 4,305 109,657 $ 4,305 106 109,551 109,551 113,962 4,411 109,551 117,196 115,796 1,400 109,551 117,196 115,796 1,400 (7,645) (1,834) 5,811 (7,645) (1,834) 5,811 220,024 221,246 EXPENDITURES Current: Education Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 220,024 $ 220,024 246 $ 212,379 $ 219,412 1,222 $ 7,033 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Spousal Maintenance Enforcement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 120,000 $ 120,000 $ Interest income Total revenues 108,515 120,000 120,000 4,079 112,594 $ (11,485) 4,079 (7,406) EXPENDITURES Current: 140,000 140,000 122,548 17,452 Total expenditures 140,000 140,000 122,548 17,452 Deficiency of revenues under expenditures (20,000) (20,000) (9,954) 10,046 10,046 Public safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (20,000) (20,000) (9,954) 161,518 161,518 211,043 141,518 247 $ 141,518 $ 201,089 49,525 $ 59,571 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Spur Cross Ranch Conservation – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 346,207 $ 340,919 $ 328,264 $ (12,655) 705 346,912 5,993 346,912 29,697 357,961 23,704 11,049 396,912 396,912 257,085 139,827 Total expenditures 500,000 896,912 500,000 896,912 363,660 620,745 136,340 276,167 Deficiency of revenues under expenditures (550,000) (550,000) (262,784) 287,216 Net change in fund balances (550,000) (550,000) (262,784) 287,216 665,012 115,012 665,012 115,012 635,722 372,938 (29,290) 257,926 Total revenues EXPENDITURES Current: Culture and recreation Capital Outlay Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 248 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Building Repair Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ $ Total revenues (8,995) $ (8,995) (8,995) (8,995) EXPENDITURES Current: 1,000,000 1,000,000 541,229 458,771 Total expenditures 1,000,000 1,000,000 541,229 458,771 Deficiency of revenues under expenditures (1,000,000) (1,000,000) (550,224) 449,776 Total other financing sources 500,000 500,000 1,000,000 1,000,000 1,000,000 1,000,000 Net change in fund balances (500,000) Public safety OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 504,080 4,080 $ 249 $ 504,080 504,080 $ 449,776 449,776 28,416 478,192 (475,664) (25,888) $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Fill the Gap Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,818,870 57 $ 1,818,927 Total revenues 1,816,219 $ 1,816,219 1,816,218 983 $ 1,817,201 (1) 983 982 EXPENDITURES Current: Public safety Total expenditures 1,818,927 1,822,071 1,821,648 423 1,818,927 1,822,071 1,821,648 423 (5,852) (4,447) 1,405 Excess (deficiency) of revenues over expenditures Net change in fund balances 115,237 Fund balance, July 1, 2022 Fund balance (deficit), June 30, 2023 $ 115,237 250 $ (5,852) (4,447) 1,405 115,237 (15,650) (130,887) 109,385 $ (20,097) $ (129,482) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,391,990 Interest income $ 1,590,298 $ 1,077,360 $ (512,938) 1,512 1,512 19,712 18,200 4,258,642 30,000 4,638,578 2,000 3,935,677 2,000 (702,901) 5,682,144 6,232,388 5,034,749 (1,197,639) Total expenditures 5,971,427 5,971,427 6,823,072 6,823,072 5,010,386 5,010,386 1,812,686 1,812,686 Excess (deficiency) of revenues over expenditures (289,283) (590,684) 24,363 615,047 Net change in fund balances (289,283) (72,934) (590,684) (72,934) 24,363 (54,187) 615,047 18,747 Intergovernmental Miscellaneous Total revenues EXPENDITURES Current: Public safety Fund deficit, July 1, 2022 Fund deficit, June 30, 2023 $ (362,217) 251 $ (663,618) $ (29,824) $ 633,794 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Judicial Enhancement Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 495,408 Interest income $ 495,411 $ 486,013 $ (9,398) 29,319 524,727 29,316 524,727 10,468 496,481 (18,848) (28,246) Total expenditures 1,049,727 1,049,727 1,049,727 1,049,727 478,784 478,784 570,943 570,943 Excess (deficiency) of revenues over expenditures (525,000) (525,000) 17,697 542,697 Net change in fund balances (525,000) (525,000) 17,697 542,697 922,438 922,438 897,605 Total revenues EXPENDITURES Current: Public Safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 397,438 252 $ 397,438 $ 915,302 (24,833) $ 517,864 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Superior Court Special Revenue Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,907,548 Interest Income 4,907,548 $ 5,044,711 $ 137,163 4,992 19,740 37,502 4,357 32,510 (15,383) 4,932,280 4,932,280 5,086,570 154,290 Miscellaneous Total revenues $ 4,992 19,740 EXPENDITURES Current: 5,683,695 5,683,695 4,971,344 712,351 Total expenditures 5,683,695 5,683,695 4,971,344 712,351 Excess (deficiency) of revenues over expenditures (751,415) (751,415) 115,226 866,641 Public safety Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ (751,415) (751,415) 115,226 866,641 4,053,065 3,301,650 4,053,065 3,301,650 3,830,592 3,945,818 (222,473) 644,168 253 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Taxpayer Information Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Miscellaneous 349,426 $ 349,426 (12,471) (12,471) 125,000 125,000 125,000 125,000 336,955 (125,000) 211,955 General government 125,000 125,000 12,057 112,943 Total expenditures 125,000 125,000 12,057 112,943 324,898 324,898 324,898 324,898 Total revenues EXPENDITURES Current: Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 255,902 $ 255,902 254 255,902 $ 255,902 345,867 $ 670,765 89,965 $ 414,863 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Grants Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 2,700,000 2,700,000 $ 2,700,000 2,700,000 $ 2,986,017 2,986,017 $ 286,017 286,017 EXPENDITURES Current: Highways and streets 2,700,000 2,700,000 Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2022 Fund balance (deficit), June 30, 2023 423,232 423,232 $ 255 $ 3,065,460 3,065,460 2,592,181 2,592,181 473,279 473,279 (365,460) 393,836 759,296 (365,460) 393,836 759,296 423,232 57,772 (433,618) (39,782) (856,850) (97,554) $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Operations Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 10,000 Interest income $ 10,000 $ 136,089 $ 126,089 800,000 800,000 2,244,995 1,444,995 Intergovernmental 149,217,499 149,217,499 151,404,201 2,186,702 License & permits 4,400,000 4,400,000 4,074,335 (325,665) 956,532 155,384,031 956,532 155,384,031 740,103 158,599,723 (216,429) 3,215,692 107,682,258 9,590,004 108,882,258 8,390,004 92,231,782 9,321,023 16,650,476 (931,019) Total expenditures 117,272,262 117,272,262 101,552,805 15,719,457 Excess of revenues over expenditures 38,111,769 38,111,769 57,046,918 18,935,149 Miscellaneous Total revenues EXPENDITURES Current: Highways and streets Capital outlay OTHER FINANCING USES (63,446,538) (63,446,538) (63,446,544) (6) Total other financing uses (63,446,538) (63,446,538) (63,446,544) (6) Net change in fund balances (25,334,769) (25,334,769) (6,399,626) 18,935,143 72,221,442 72,221,442 73,713,302 1,491,860 Transfers out Fund balance, July 1, 2022 Change in nonspendable resources: Decrease in inventories Fund balance, June 30, 2023 $ 46,886,673 256 $ 46,886,673 $ (102,711) 67,210,965 $ (102,711) 20,324,292 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Compensation Interest Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 6,500 $ 6,500 $ 34,945 $ 34,945 28,445 6,500 6,500 26,500 26,500 26,500 Total expenditures 26,500 26,500 26,500 Excess (deficiency) of revenues over expenditures (20,000) (20,000) 34,945 54,945 Net change in fund balances (20,000) (20,000) 34,945 54,945 Total revenues 28,445 EXPENDITURES Current: Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 911,683 891,683 257 $ 911,683 891,683 $ 905,832 940,777 $ (5,851) 49,094 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Compensation Restitution Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 200,000 Interest income $ 200,000 $ $ (34,256) 10,000 3,691 788 (6,309) 788 210,000 210,000 170,223 (39,777) Miscellaneous Total revenues 165,744 10,000 EXPENDITURES Current: 1,398,277 1,398,277 1,398,277 Total expenditures 1,398,277 1,398,277 1,398,277 Excess (deficiency) of revenues over expenditures (1,188,277) (1,188,277) 170,223 1,358,500 Net change in fund balances (1,188,277) (1,188,277) 170,223 1,358,500 Public safety Fund balance, July 1, 2022 Fund balance, June 30, 2023 1,188,277 $ 1,188,277 $ 258 428,630 $ 598,853 (759,647) $ 598,853 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Location Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income Total revenues $ 2,000 2,000 Excess of revenues over expenditures 2,000 $ 2,000 2,000 $ 2,000 8,505 8,505 6,505 6,505 2,000 2,000 8,505 Fund balance, July 1, 2022 32,598 34,598 32,598 34,598 32,883 41,388 $ 259 $ $ 6,505 6,505 8,505 Net change in fund balances Fund balance, June 30, 2023 $ $ 285 6,790 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Management Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Miscellaneous $ 6,659 $ 6,659 65,000 65,000 65,000 65,000 119,674 126,333 54,674 61,333 657,229 657,229 649,014 649,014 45,103 45,103 603,911 Total expenditures Excess (deficiency) of revenues over expenditures (592,229) (584,014) 81,230 665,244 Net change in fund balances (592,229) (584,014) 81,230 665,244 601,499 601,499 585,146 (16,353) Total revenues EXPENDITURES Current: Health welfare Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 9,270 260 $ 17,485 $ 666,376 603,911 $ 648,891 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Tire Fund – Special Revenue Fund Year Ended June 30, 2023 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 382,704 Interest income Intergovernmental Total revenues $ 382,704 $ 359,925 $ (22,779) 12,660 5,429,636 12,660 5,429,636 7,571 6,349,852 (5,089) 920,216 5,825,000 5,825,000 6,717,348 892,348 EXPENDITURES Current: 6,675,000 6,675,000 6,045,203 629,797 Total expenditures 6,675,000 6,675,000 6,045,203 629,797 Excess (deficiency) of revenues over expenditures (850,000) (850,000) 672,145 1,522,145 1,522,145 Health welfare and sanitation Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 261 (850,000) (850,000) 672,145 2,338,653 1,488,653 2,338,653 1,488,653 2,646,041 3,318,186 $ $ $ 307,388 1,829,533 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Improvement Debt Fund – Debt Service Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 4,179,308 $ 4,179,308 Total revenues 4,179,308 4,179,308 EXPENDITURES Debt service Principal 121,218,512 121,218,512 121,218,512 Interest Total expenditures 2,756,239 123,974,751 2,756,239 123,974,751 2,756,239 123,974,751 Deficiency of revenues under expenditures (123,974,751) (123,974,751) (119,795,443) 4,179,308 32,315,153 32,315,153 32,315,153 32,315,153 29,945,614 29,945,614 (2,369,539) (2,369,539) (91,659,598) 182,452,406 90,792,808 (91,659,598) 182,452,406 90,792,808 (89,849,829) 176,909,736 87,059,907 1,809,769 (5,542,670) (3,732,901) OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 262 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Pledged Revenue Debt Fund – Debt Service Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Total revenues (4,862,436) $ (4,862,436) (4,862,436) (4,862,436) EXPENDITURES Debt service Principal 250,000,000 249,738,706 249,070,000 668,706 Interest Total expenditures 5,000,000 255,000,000 5,261,294 255,000,000 5,261,294 254,331,294 668,706 Deficiency of revenues under expenditures (255,000,000) (255,000,000) (259,193,730) (4,193,730) Total other financing sources 509,956,173 509,956,173 509,956,173 509,956,173 509,956,173 509,956,173 Net change in fund balances 254,956,173 254,956,173 250,762,443 OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 254,956,173 263 $ 254,956,173 $ 250,762,443 (4,193,730) $ (4,193,730) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Improvement Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Intergovernmental 4,550,322 1,313,728 $ 5,864,050 Total revenues 4,550,322 1,313,728 5,864,050 EXPENDITURES Current: General government 6,005,337 6,394,172 6,394,172 Public safety 20,660,798 21,506,187 21,506,187 Total expenditures 238,752,408 265,418,543 211,752,429 239,652,788 80,980,318 80,980,318 130,772,111 158,672,470 Deficiency of revenues under expenditures (265,418,543) (239,652,788) (75,116,268) 164,536,520 18,225,348 18,225,348 18,225,348 18,225,348 (247,193,195) 149,616,229 $ (97,576,966) (221,427,440) 149,616,229 $ (71,811,211) Capital outlay OTHER FINANCING SOURCES (USES) Transfers in Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 264 (18,225,348) (18,225,348) $ (75,116,268) 150,343,181 75,226,913 $ 146,311,172 726,952 147,038,124 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Detention Capital Projects Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Capital outlay $ 6,969,302 $ 7,250,737 $ 1,897,310 $ 5,353,427 Total expenditures 6,969,302 7,250,737 1,897,310 5,353,427 Deficiency of revenues under expenditures (6,969,302) (7,250,737) (1,897,310) 5,353,427 4,202,474 (39,875,548) (35,673,074) 4,202,474 (39,875,548) (35,673,074) 4,202,474 (39,875,548) (35,673,074) (42,642,376) 100,179,177 57,536,801 (42,923,811) 100,179,177 57,255,366 (37,570,384) 101,797,090 64,226,706 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 265 $ $ $ 5,353,427 1,617,913 6,971,340 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Detention Technology Capital Improvement Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) OTHER FINANCING USES Transfers Out $ (150,965) $ (150,965) $ (150,965) Total other financing uses (150,965) (150,965) (150,965) Deficiency of revenues under expenditures (150,965) (150,965) (150,965) Net change in fund balances (150,965) 153,795 2,830 (150,965) 153,795 2,830 (150,965) 153,795 2,830 Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 266 $ $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Capital Projects Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 5,995,000 $ 5,995,000 $ 7,534,486 $ 1,539,486 5,995,000 5,995,000 7,534,486 1,539,486 1,692,304 68,306,668 1,692,304 83,306,668 72,887,990 1,692,304 10,418,678 Total expenditures 69,998,972 84,998,972 72,887,990 12,110,982 Deficiency of revenues under expenditures (64,003,972) (79,003,972) (65,353,504) 13,650,468 38,589,812 38,589,812 38,589,812 38,589,812 38,589,812 38,589,812 (25,414,160) (40,414,160) (26,763,692) 13,650,468 102,354,059 102,354,059 109,460,349 7,106,290 Total revenues EXPENDITURES Public Safety Capital outlay OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 76,939,899 267 $ 61,939,899 $ 82,696,657 $ 20,756,758 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual General Fund County Improvements Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Culture and Recreation $ Capital outlay 81,621 23,448,806 $ 90,518 24,435,552 $ 8,278,420 $ 90,518 16,157,132 Total expenditures 23,530,427 24,526,070 8,278,420 16,247,650 Deficiency of revenues under expenditures (23,530,427) (24,526,070) (8,278,420) 16,247,650 OTHER FINANCING SOURCES (USES) Transfers in 322,031,231 322,031,231 322,031,231 Transfers out (121,853,709) 200,177,522 (121,853,709) 200,177,522 (103,628,361) 218,402,870 18,225,348 18,225,348 34,472,998 Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 176,647,095 175,651,452 210,124,450 541,897,193 541,897,193 542,892,846 718,544,288 268 $ 717,548,645 $ 753,017,296 995,653 $ 35,468,651 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Capital Improvement Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 300,000 $ 300,000 $ 133,939 $ (166,061) Total revenues 300,000 300,000 133,939 (166,061) Excess of revenues over expenditures 300,000 300,000 133,939 (166,061) Net change in fund balances Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 300,000 300,000 133,939 (166,061) 10,452,749 10,452,749 10,079,140 (373,609) 10,752,749 269 $ 10,752,749 $ 10,213,079 $ (539,670) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff MASH Capital Donation Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Total revenues 5,052 5,052 $ 5,052 5,052 EXPENDITURES 275,665 275,665 275,665 Total expenditures 275,665 275,665 275,665 Excess (deficiency) of revenues over expenditures (275,665) (275,665) Net change in fund balances (275,665) 276,100 Capital outlay Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 435 270 $ 5,052 280,717 (275,665) 5,052 280,717 276,100 277,304 435 $ 282,356 1,204 $ 281,921 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Technology Capital Improvement – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES General Government $ Capital outlay 11,409,304 13,837,590 $ 15,654,184 11,428,807 $ 14,326,486 $ 15,654,184 (2,897,679) Total expenditures 25,246,894 27,082,991 14,326,486 12,756,505 Deficiency of revenues under expenditures (25,246,894) (27,082,991) (14,326,486) 12,756,505 OTHER FINANCING SOURCES (USES) Transfers in 12,593,528 12,593,528 12,593,528 Transfers out (19,611,484) (19,611,484) (19,611,484) 371,073 371,073 Total other financing sources (uses) (7,017,956) (7,017,956) (6,646,883) 371,073 Net change in fund balances (32,264,850) 93,330,540 (34,100,947) 93,330,540 (20,973,369) 102,816,081 13,127,578 9,485,541 Financed purchased agreements Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 61,065,690 271 $ 59,229,593 $ 81,842,712 $ 22,613,119 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Capital Project Fund – Capital Projects Fund Year Ended June 30, 2023 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 33,801,899 $ 33,801,899 $ 30,517,053 $ (3,284,846) Intergovernmental 7,133,700 7,133,700 12,911,480 5,777,780 Miscellaneous 2,559,309 43,494,908 2,559,309 43,494,908 59,250 43,487,783 (2,500,059) (7,125) 11,143,700 118,593,000 11,879,600 117,857,100 103,933,806 11,879,600 13,923,294 Total expenditures 129,736,700 129,736,700 103,933,806 25,802,894 Deficiency of revenues under expenditures (86,241,792) (86,241,792) (60,446,023) 25,795,769 Total revenues EXPENDITURES Highway and Streets Capital outlay OTHER FINANCING SOURCES 63,446,538 63,446,538 63,446,544 6 Total other financing sources 63,446,538 63,446,538 63,446,544 6 Net change in fund balances (22,795,254) (22,795,254) 3,000,521 25,795,775 49,910,875 49,910,875 32,998,158 (16,912,717) Transfers in Fund balance, July 1, 2022 Fund balance, June 30, 2023 $ 27,115,621 272 $ 27,115,621 $ 35,998,679 $ 8,883,058 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2023 Budgeted Amounts Original Final $ 28,903,803 $ 29,500,271 1,670,725 1,670,725 Actual Amounts Variance with Final Budget GENERAL GOVERNMENT County Improvement 301 - Administration Building Renovation Avondale Substation Radio Tower CAD/RMS System Replacement $ 4,678,072 $ 24,822,199 342,400 1,328,325 10,000,000 Clerk of the Court - Southeast Remodel 10,000,000 500,000 500,000 152,996 Computer Aided Mass Appraisal 2,511,635 3,018,401 2,701,312 347,004 317,089 Downtown Court Plaza Remodel 3,400,000 3,400,000 281,014 3,118,986 East Valley Animal Care and Control Facility 28,000,000 24,580,777 22,523,041 2,057,736 Electronic Court Recording System Project 19,200,000 20,045,379 8,934,282 11,111,097 Emergency Management Facility 14,500,000 13,960,292 2,148,323 11,811,969 Equipment Services Center Buckeye 5250,770 5,208,766 1,784,312 3,424,454 Equipment Services Fueling Station Downtown 3,893,060 3,893,060 3,420,939 472,121 Human Resources Information System 4,839,609 6,595,388 3,838,588 2,756,800 Jail Mgmt Information System 1,710,798 2,023,028 701,214 1,321,814 Judicial Branch Secure Fencing Projects 1,600,000 1,600,000 898,350 701,650 MCSO Substation - District 1 Mesa 2,100,000 2,100,000 80,432 2,019,568 MCSO Substation at Avondale Campus 6,244,965 6,244,965 842,468 5,402,497 MCSO SWAT/Major Crimes/ K-9 Kennel Facility 11,200,000 11,040,400 MSCO Dist 3 Surprise Substation Add & Rmdl Remodel 7,500,000 7,500,000 544,221 MCSO Warehouse 10,000,000 10,000,000 527,709 9,472,291 MCTEC Renovations 14,100,000 14,100,000 116,939 13,983,061 Northeast Regional Court Parking Lot 1,007,406 1,144,473 200,519 943,954 Property and Evidence System Upgrade 3,000,000 3,000,000 84,434 2,915,566 Public Health Human Services Building 31,200,000 5,200,000 Round Court House - Durango Demo 200,000 200,000 Southeast Juvenile Facility Remodel 15,000,000 15,135,009 1,587,852 13,547,157 Southeast Regional Justice Center at Mesa 27,164,748 26,836,141 20,586,467 6,249,674 Superior Court Central Building 10th Floor 1,000,000 9,464,024 1,000,000 9,849,733 252,507 3,751,932 747,493 6,097,801 $ 255,161,543 $ 239,346,808 $ 80,980,323 $ 158,366,485 $ $ $ $ Superior Court Central Building 11th Floor Total County Improvements 11,040,400 6,955,779 5,200,000 200,000 General Fund County Improvements Boundary Fencing Campground Development and Improvement 175,000 1,997,345 Durango Fuel Demolition 175,000 1,998,336 83,290 14,528 91,710 1,983,808 178,563 98,133 97,785 348 1,102,915 1,102,915 409,328 693,587 Estrella Ramada Renovations 500,000 591,167 207,878 383,289 Host Sites 400,000 400,000 280,612 119,388 Lake Boundary Fencing Lake Pleasant - Campsite Repairs and Reno 600,000 1,833,012 600,000 1,833,012 272,877 600,000 1,560,135 Lake Pleasant - Water Storage Tank Upgrades 138,964 71,324 71,324 Maricopa Regional Trail System 581,355 606,436 136,294 470,142 Parking Lot Repairs 898,897 899,212 320,117 579,095 Parks Day Use Hassayampa 500,000 500,000 69,037 430,963 Parks Day Use Usery 300,000 300,000 266,927 Parks Day Use White Tank 800,000 800,000 Entry Station and Maintenance Buildings 273 33,073 800,000 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget GENERAL GOVERNMENT (Cont’d) San Tan Mtn Park Improvement $ 2,046,036 $ 2,087,126 $ 56,888 $ 2,030,238 Superior Court Central Building 12th Floor 900,850 1,870,919 530,668 Vulture Day-Use Design/Engineering 22,945 37,945 37,945 9,554,545 1,000,000 $ 23,530,427 9,554,545 1,000,000 $ 24,526,070 5,422,924 $ 8,278,422 4,131,621 1,000,000 $ 16,247,648 $ $ $ 1,489,565 $ Vulture Mountain White Tank - Area 4 Renovations Total General Fund County Improvements 1,340,251 Technology Capital Improvements Dynamics 365 Upgrade 500,000 2,500,000 1,010,435 Enterprise Res Planning System 2,582,079 2,582,079 2,364,005 218,074 Public Safety Radio 7,543,228 5,622,642 3,210,937 2,411,705 4,090,699 10,530,888 $ 25,246,894 3,907,615 12,470,655 $ 27,082,991 609,401 6,652,577 $ 14,326,485 3,298,214 5,818,078 $ 12,756,506 $ $ $ $ 5,780,302 1,470,435 7,250,737 $ $ 5,780,302 1,189,000 6,969,302 $ 500,000 $ 120,662 $ Infrastructure Refresh Ph II Treasurer Tech System Upgrade Total Technology Capital Improvements PUBLIC SAFETY Detention Capital Projects Durango Jail Demolition MCSO Security Surveillance Projects Total Detention Capital Projects $ 1,204,819 692,490 1,897,309 $ 4,575,483 777,945 5,353,428 $ 120,662 Flood Control Capital Projects 103rd Avenue Landfill Drainage Improvements 10432 Superstition Springs Golf Course Lake 280,000 179,000 171,736 10th Street Wash Basins - Major Maintenance 181,016 181,012 7,264 19Ave and Dobbins Drainage Improvements 1,646,000 1,686,000 792,151 893,849 27th Ave and Olney Ave Storm Drain 5,250,000 1,784,000 4,588,196 (2,804,196) 48th Street Drain – Major Maintenance 232,736 232,728 502 232,226 51st Ave and Dobbins Rd Drainage Improve Proj 250,000 250,000 2,239 247,761 ACDC - Major Maintenance 243,078 243,072 19,456 223,616 Agua Fria River - Major Maintenance 103,438 103,432 7,212 Apollo Gardens Drainage Improvements 459,750 459,756 181,012 96,220 459,756 Baseline Est of Signal Butte 500,000 500,000 80 499,920 Bethany 79th To 59th 300,000 362,000 23,847 338,153 7,198 (7,198) 800,000 9,483,750 12,981,955 (3,498,205) Broadway Stapley Drainage Improvements Buckeye 1 Rehab Buckeye FRS 2 - Major Maintenance Bullard Wash Ph II 49 (49) 1,662 (1,662) Cave Buttes Dam Mod 64,000 329,000 70,374 258,626 Central Chandler Drng 107,000 499,000 11,015 487,985 Circle K Park Detention Basin Courtside Villa – Deuce Ct and Parcel F Drng Desert Awareness ParkGalloway Wash Impr 487,500 Desert Crest Dr Bank Stabilization 37,000 274 93,000 359 (359) 2,930 (2,930) 72,716 20,284 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Final Actual Variance with Amounts Final Budget PUBLIC SAFETY (Cont'd) Detention Basin @ Town of Queen Creek E Park $ 500,000 $ 1,799,000 Downtown Buckeye E Maricopa Floodway Low Flow 487,500 East Carefree Drive @ East Cave Creek Rd Drng 487,500 East Fork Cave Creek - Major Maintenance East Maricopa Floodway - Major Maintenance EMF Low Flow - Guadalupe to Ray Road $ 58,259 $ 1,740,741 766 (766) 1,652 (1,652) 80 487,420 47 (47) 646,486 446,480 32,265 414,215 2,455,000 5,363,000 5,340,910 22,090 250,000 EMF Low Flow Germann to Chandler Heights Flood Control CIP 1,600,000 16,600,000 Flood Control West Yard 7,500,000 7,500,000 Floodprone Prop Acquisition 2,700,000 2,700,000 16,600,000 3,919,653 3,580,347 2,700,000 FPAP - Gila Bend - Campos 403-11-057A 59,386 (59,386) FPAP - Gila Bend - Cool 403-11-051 328,635 (328,635) FPAP - Gila Bend - General Use 49,083 (49,083) FPAP - Gila Bend - Gonzalez 402-21-008C 577 (577) FPAP - Gila Bend - Guillen 402-21-006C- 11,689 (11,689) FPAP - Gila Bend - Jesus Aguirre 403-11-052 47,021 (47,021) FPAP - Gila Bend - Lauderdale 402-17-002N 432 (432) FPAP - Gila Bend - Mills 402-21-010D 100,059 (100,059) FPAP - Gila Bend - Policy 403-11-054C 71,163 (71,163) FPAP - Gila Bend - Sizemore 402-21-010E 848 (848) FPAP - Gila Bend - Vandagriff 403-11-050 171,026 (171,026) 216,515 (216,515) Gila Bend Drainage Improvements 700,000 715,000 321,628 393,372 Golden Eagle Park Dam Debris Mitigation Impr 90,750 91,000 3,129 87,871 12,460 (12,460) FPAP - Gila Bend - Vazquez 403-11-047 & 403-11-048D Grand Ave 83rd Ave Drainage Improvement 2,930 (2,930) Granite Reef Wash 4,800,000 1,482,000 1,796 1,480,204 Guadalupe FRS - Major Maintenance 1,034,377 1,029,395 1,187,644 (158,249) 103,000 103,000 550,918 (447,918) Grand Blvd and Rosita Drive Drainage Impr Guadalupe FRS Rehab 359 (359) 180,000 2,632 177,368 189 (189) 232,000 1,819,895 (1,587,895) 363,625 (363,625) Guadalupe Rd Channel Box - Major Maintenance 460,000 Hidden Valley Basins and Storm Drain Indian Bend Wash Coll & Side Drain Major Main 103,438 Litchfield R Strm Dr 250,000 Loop 303 Drainage - Major Maintenance Maintenance – 1090280 Agua Fria Levee Railing Maintenance – 1090380 Agua Fria River Levee 203,432 Maintenance – 3600180 Adobe Dam Perimeter 1,020,000 Major Maintenance Capital Appr Unit 8 (8) 812,985 (812,985) 178,970 24,462 1,020,025 Mandan Street Drainage Improvements 1,020,025 1,583 (1,583) McMicken Dam Out Impr 4,000,000 10,000 450,127 (440,127) McMicken Dam Project 13,100,000 7,361,000 10,762,854 (3,401,854) Mockingbird Lane Drainage Improvement Project New River Channel - Major Maintenance Oak St Basin and St Dr Palm Lane and 30th Street 275 5,743 (5,743) 103,438 178,432 392,265 (213,833) 4,173,750 4,142,000 4,629,799 (487,799) 450,000 1,030,211 (580,211) Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Final Actual Variance with Amounts Final Budget PUBLIC SAFETY (Cont'd) Palo Verde Drainage Improvements $ $ 350,000 $ 664 $ (664) 356,190 377,810 Paradise Valley Wash Drainage Imprv Area 518 (518) Patton Road at 195th Avenue 160 (160) 3,844 (3,844) Paradise Ridge Channel Improvements 734,000 Pecos Road Drainage Improvement Pima Road Drainage Channel Pinnacle Peak Rd & 67th Ave Drainage Impr 1,000,000 1,500,000 6,076,284 (4,576,284) 500,000 500,000 17,116 482,884 Powerline Floodway - Major Main 220,000 Powerline FRS Channel 263 (263) 147,898 72,102 499,356 Prwder House Wash Realignment 500,000 500,000 644 PVR Rehabilitation 173,000 763,000 675,346 87,654 5,285,000 4,374,000 8,484,753 (4,110,753) 22,249 (22,249) 25,859 25,864 458 25,406 Rawhide Wash Flood Hazard Mitigation Reata Pass Drainage Improvements Rittenhouse FRS – Major Maintenance Roosevelt St Storm Drain Improvement 150,000 Royal Shadows Drainage Improvement Program 150,000 9,046 (9,046) 296,381 (146,381) Salt River Channel - Major Maintenance 103,438 103,432 150,025 (46,593) Scott Avenue Wash Emergency Repair 900,000 1,806,000 2,326,973 (520,973) Solano Rd LWC and Channel 463,083 463,000 652 462,348 Somerset Circle Drainage Improvement 183,335 Sun City Drains Sun City Drains - Grand Delat Del Webb to Agua Fri Sun City Drains Grand at 103rd to New River 2,202,000 3,292,000 300,000 300,000 Sun City West Drains - Major Maintenance 300,000 Sun City West Drains Improvements Repairs 596 (596) 9,807 (9,807) 1,512,612 1,779,388 2,542 297,458 12,764 (12,764) 6,979 293,021 Sunset FRS - Major Maintenance 37,887 (37,887) Tres Rios Levee - Major Maintenance 272,678 (272,678) 90,871 (90,871) 500,000 300,408 199,592 University Basin Vegetable Debris Removal 22 Val Vista at the Eastern Canal Drainage 137 (137) Vista Drive Drainage Improvement Program 94,000 338,000 347,145 (9,145) Watson Drive and Bonarden Lane 250,000 500,000 1,145 498,855 Vineyard FRS - Major Maintenance White Tanks 4 Outlet 2,689 (2,689) White Tanks 4 Rehab 18,960 (18,960) 30,000 5,811 24,189 $ 69,998,972 $ 84,998,972 $ 72,887,988 $ 12,110,984 $ $ $ $ White Tanks FRS 3 Outfall Channel - Major Main Total Flood Control HIGHWAYS AND STREETS 111th Ave Peoria Ave to Alabama Ave 7,500 11th Ave Honda Bow to 13th Ave 20th St Cloud Rd to Tamar Rd 898,000 1,642,000 227th Ave Montgomery to Dove Valley 250,000 25,000 35th Ave Carver to Elliot 102,504 (95,004) 2,420 (2,420) 1,556,255 85,745 84,104 (59,104) (70,165) 70,165 130,000 75,000 178,479 (103,479) 67th Avenue and Vineyard Rd 69,000 216,000 482,309 (266,309) 7th St Carefree Hwy to Blue Eagle Ln 150,000 423,000 343,939 79,061 51st Ave at Olney Intersection Improvement 276 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Final Actual Variance with Amounts Final Budget HIGHWAYS AND STREETS (Cont'd) 83rd Ave Broadway $ $ $ 99th Ave at Cameo Dr ADA Improvement Package 1 69 $ (69) 1,521 (1,521) 216 (216) 180,000 ADA Improvement Package 2 121,000 346,542 (225,542) 1,436,000 2,878,000 1,045,081 1,832,919 ARAC MR NW SO Arterials 135,000 100,000 117,957 (17,957) ARAC Overlay SO Arterials 135,000 35,229 (35,229) ADA Improvement Package 4 ARAC MR NE Arterials Avondale at MC 85 12 (12) Baseline Rd at Meridian Rd Intersection Signal 167 (167) 889,486 453,514 867,000 Bell Rd Communication Enhancements 1,343,000 Beloat Rd - Dean Rd to Jackrabbit 187 (187) Bethany Home Rd at Citrus Road 14,353 (14,353) Broadway Rd 75Th Ave To 51St Av 310,000 Broadway Rd Bridges At Temple Canal 884,510 Bush Hwy Cattle Guard Installation Camelback at Beardsley Canal 3,242 (3,242) 1,999,909 (1,115,399) 1,877 (1,877) 5,156,343 (5,156,343) Camelback Rd and 127th Ave 365 (365) Camelback Rd at Citrus Rd 1,505 (1,505) Camelback Road - Village Parkway to Dysart Rd 3,511,000 3,511,000 3,511,091 (91) Camelback Road at Perryville Road Traffic Signal 306,000 306,000 152,875 153,125 Camelback Road at Sarival Avenue Traffic Signal 755,000 755,000 284,362 470,638 3,187,054 7,811,054 Capacity 7,811,054 26,473 Carefree and 36th St Intersection Improvement Carefree Hwy 7th Ave to 48th St Carefree Hwy and 32nd St Intersection Carefree Hwy Area Chandler Hts McQueen to Val Vista 1,460,000 Chander Hts Recker to 600 ft E of Power Rd IGA 939,500 Cooper Rd Prescott Pl to Riggs Rd ROW Assistance 15,000 Cotton Ln at Granite Vista Loop Intersection Impr 10,000 Cotton Lane At Orangewood Ave Deer Valley El Mirage To Lk P (76) 19,809 (19,809) 22 (22) 64,422 (64,422) 45 939,455 (26,785) 26,785 14,796 (4,796) 44,122 (44,122) 132 (132) 3,659,325 3,123,225 536,100 Country Place and Laurelwood Park Rehab 9,788,000 (26,473) 76 DMIT-White Tanks Area 4 230,000 335,000 357,582 (22,582) Dove Valley Rd 171st Ave To 163rd Ave 14,000 125,600 78,173 47,427 Dreamland Villa Rehab 135,000 256,000 232,805 23,195 Dreamland Villa / Granite Reef Velda Rose 135,000 289,000 437,626 (148,626) Dust Mitigation 3,792,093 1,272,093 Dysart Ave Overpass 3,450,000 3,022,456 1,995,873 1,026,583 62,000 1,079,949 (1,017,949) Dysart Rd and Rose Ln Intersection 5,540,000 Eagle Eye Rd at Tiger Wash 727,000 El Mirage Bethany Home Rd to Glendale Ave 1,272,093 876,330 (149,330) 1,291,804 (1,291,804) 93,000 14,223 78,777 Ellsworth Rd and Pueblo Ave 110,000 120,000 149,150 (29,150) Figs Springs LVR 170,000 235,000 84,542 150,458 El Mirage Rd Indian Springs Rd to Southern Ave 277 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Final Actual Variance with Amounts Final Budget HIGHWAYS AND STREETS (Cont'd) Fort McDowell and Mohave Intersection Impr $ $ $ 25,879 $ (25,879) 335 (335) Gavilan Pk Pkwy and Cloud Rd 15,000 37,281 (22,281) Gavilan Pk Pkwy and King Dr 6,000 6,978 (978) 1,852 (1,852) FY19 ARAC - NE Arterials GermannLindsay Row Assistance Gilbert Road Bridge 12,466,000 8,165,000 13,967,934 (5,802,934) 285,000 240,000 271,828 (31,828) Glendale Ave and Cotton Lane Happy Valley Rd and Dysart Intersection Imprv 2,466 (2,466) Happy Valley Rd and El Granada Intersection 1,620 (1,620) 3,307 (3,307) 78,339 (68,339) Intelligent Trans Syst ITS 708 (708) Jackrabbit Trail Van Buren To McDowell 29 (29) Laveen Area 12 (12) 69,849 (69,849) High Friction Surface Trmt Pilot Project 10,000 HIPR - McDowell Mountain Rd 1,410,000 Lindsay Rd Spur Rd to Layton Lakes Blvd IGA Litchfield Rd N Pkwy To Peoria Lower Buckeye 71st to 67th Ave 1,240,000 1,631,000 9,456,138 7,297,682 26 (26) 3,329,010 (1,698,010) 505,504 Luke Wash at Old US 80 Restoration MAG ALCP Projects (505,504) 7,297,682 45,000 188,500 135,890 52,610 MC 85 107th Ave to 91St Ave 1,435,000 3,135,000 986,257 2,148,743 MC85 91st Ave 1,506,000 767,000 6,477,971 (5,710,971) 1,140 (1,140) 1,203,000 440,000 1,484,589 (1,044,589) 18 (18) 212,000 10,000 1,043 8,957 5,230,000 1,570,000 2,817,487 (1,247,487) 4,000 437,963 (433,963) 1,329,000 1,571,568 (242,568) Mash Guardrail Evaluation - NE Area MC85 at 83rd Ctr Turn Ln Exp MC85 At Verrado Way McDowell Rd at Jackrabbit Tr McDowell Rd at Jackrabbit Trail & Perryville Rd McKellips Rd I10 to Alma Schl Meeker Blvd and Echo Mesa Dr 450,000 Meeker Blvd At Granite Valley Dr Meridian Rd Baseline Rd to Brown Rd Miller Rd I10 to 1 Mi N I10 3,000 NE Locals Overlay 10,405 6 (6) (763) 763 91,471 (81,066) (7,375) 7,375 35,000 87,708 (52,708) 2,138,000 2,477,611 (339,611) 38,000 10,102 27,898 Northern Pkwy Northern at L101 1,711,000 1,511,000 1,749,881 (238,881) NPKWY EL Mirage Alt Acc 5,065,000 4,630,000 5,369,963 (739,963) 51,675 368,916 No Pkwy Loop To Grand Northern at Citrus Rd & Cotton Ln at Maryland 1,980,000 Northern Parkway Agua Fria To 99th Ave Scoping Northern Parkway Phase II NPKWY EL Mirage Overpass 54,000 40,000 (11,675) Ocotillo Gilbert Rd to 148th St 369,000 369,000 84 1,003,000 1,003,000 1,002,640 360 28,000 100 27,900 7,472 (7,472) Ocotillo Rd Signal Butte to Meridian Old Price Rd Riggs Rd to Bartlett Way Alignment Old US 80 Patterson to Agua Caliente Olive Ave Reems to Litchfield 30 (30) Olive Ave Sarival To Reems Rd 7,493 (7,493) 188,847 2,520,153 2,146,000 Olive Ave Sr 303 To Sarival Ave 278 2,709,000 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Budgeted Amounts Original Final Actual Variance with Amounts Final Budget HIGHWAYS AND STREETS (Cont'd) Palm Lane Drainage $ $ 1,241,000 Palo Verde Rd Bridge at RID $ 145,000 135 $ (135) 1,443,173 (1,298,173) (70,853) 268,122 Patton Rd at 195th Ave 18,000 25,000 95,853 Peak View Lvr 498,000 397,350 129,228 Peoria Ave Citrus Rd To Sr 303 234,000 412,000 419,250 (7,250) 363,466 (363,466) Power Rd Pecos to SR 202 693 (693) Power Rd South of Warner to Baseline 253 (253) 27,792 22,208 Pinnacle Vista Dr 40Th To 46Th St 50,000 Prop Mgmt Prior Years Project 50,000 Recker Rd ROW Assistance 136 (136) Riggs Ellsworth To Meridian 1,131 (1,131) Riggs Rd I-10 to Dobson Rd 19,225 (19,225) Riggs Rd Power to Hawes 1,767 (1,767) Riggs Rd Recker to Power 268 (268) 64,575 235,425 Row In Fill Road Inventory Sys 200,000 300,000 San Tan Blvd and Power Road 150,000 69,000 6,400 62,600 Skunk Creek Crossings Circle Mtn 19Th Ave 102,000 1,460,000 159,457 1,300,543 Sossaman RR crossing at Germann Rd 500,000 500,000 45 499,955 South Arterials 133 (133) Southern at 97th St Traffic Signal 63 (63) Southern Ave 41st to 39th Ave 440,000 1,091,680 1,017,343 74,337 Stardust Blvd Amigo Dr to Sunglow Dr 134,000 134,000 154,320 (20,320) 194,000 Sun City A10-N83 N84 ADA Ramps Sun City A10-N74 and N5 ADA Ramps 64 193,936 363,809 (363,809) 453,644 (453,644) Sun City West A9-N36 N37 Phase 1 ADA Ramps 149,000 12 148,988 Sun City West A9-N36 N37 Phase 2 ADA Ramps 126,000 69 125,931 338,774 (338,774) 5,874,828 3,757,172 Sun City A10-N85 ADA Ramps Sun City West A9-N39 ADA Ramps 3,345,000 Sun City West Canal Crossing 9,632,000 Sun City West unit 36 Rehab 17,062 (17,062) (164,355) 235,000 114,000 278,355 688 (688) Sun Lakes Rehab Units 1-10 and 41 2,917,000 6,053,000 4,768,401 1,284,599 Sun Lakes Rehab Units 11-22 4,437,000 1,600,000 511,747 1,088,253 700,000 389,000 254,881 134,119 Sun Valley Parkway Restoration Phase 5 9,509 (9,509) Sun Valley Parkway Restoration Phase 6 5,043 Sun City West Units 35 38A 40 Sun City West Units 35 38A 40 ADA Ramps Sun Valley Parkway Restoration Phase 4 (5,043) 3,434,444 7,044,529 Tonto Hills Lvr Package 1 848,000 633,000 516,155 Traffic Calming 100,000 136,000 131,792 4,208 4,985 (4,985) System Preservation Traffic Management 4,551,971 Transportation System Management 7,044,529 6,451,471 116,845 6,451,471 115,292 (115,292) 31,916 (10,921) US80 At Butterfield Wash 157 (157) Van Buren At Jackrabbit Tr 729 (729) Tuthill Rd Bridge Restoration 122,000 University Dr Higley Rd To Power Rd 279 20,995 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects (Continued) Year Ended June 30, 2023 Actual Variance with Original Budgeted Amounts Final Amounts Final Budget $ 20,452,000 $ 22,309,050 $ 15,526,747 500,000 1,637,000 1,482,552 HIGHWAYS AND STREETS (Cont'd) Vulture Mountain Recarea Roads White Tank Park Entrance Wintersburg Rd Buckeye Rd to Van Buren St 6,782,303 154,448 8,158 (8,158) 100,000 100,000 36,625 63,375 $ 129,736,700 $ 129,736,700 $ 103,933,806 $ 25,802,894 Yuma At Jackrabbit Trail Total Highways and Streets $ 280 Financial Section Combining and Individual Fund Statements Internal Service Funds Internal Service Funds Maricopa County Listing of Internal Service Funds Internal Service Funds are used to account for services and commodities provided by one department or agency to other departments or agencies of the County. These services are provided on a cost-reimbursement basis. The following is a listing of the Internal Service Funds reported within Maricopa County. Equipment Services - This fund provides assistance to other Maricopa County departments to ensure quality service to the citizens of Maricopa County by furnishing and maintaining the necessary County mobile equipment in an efficient manner. Technology Infrastructure - This fund provides cost effective voice, data, and radio communications to County employees. Sheriff Warehouse - Sheriff Warehouse tracks inventory activity for supplies purchased by the warehouse for resale and stores consignment inventory for other departments. Risk Management - This fund supports the comprehensive insurance/self-insurance program, which safeguards County assets and employees by means of a Trust Fund. Personnel skilled in loss control, claims and litigation, and workers’ compensation work together to avert risk and conserve the human and financial resources of Maricopa County. Employee Benefits Trust - This fund collects employee and employer contributions for payment of the employees’ medical, dental, pharmacy, and short-term disability benefits. 283 Maricopa County Combining Statement of Net Position All Internal Service Funds June 30, 2023 Equipment Services Technology Infrastructure Sheriff Warehouse ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer 4,238 $ 1,974,787 6,167 $ 10,076,570 Receivables: Accounts 13,069 Accrued interest 43,112 Inventories 1,117,353 82,441 3,109,447 10,550,029 1,045,359 341,739 Prepaids Total current assets 1,045,359 Noncurrent assets: Buildings and improvements 16,280,574 Machinery and equipment 3,637,425 44,869,150 (2,687,107) 154,452 (38,491,680) 224,716 Total noncurrent assets 1,104,770 24,867,101 Total assets 4,214,217 35,417,130 739,749 739,749 1,076,459 1,076,459 Intangibles 1,984,341 Accumulated depreciation Other postemployment benefits (OPEB) DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions and OPEB Total deferred outflows of resources 1,045,359 LIABILITIES Current liabilities: Accounts payable Employee compensation payable 1,136,818 964,114 640,062 1,131,217 111,400 Accrued liabilities 935 Due to other funds 315,317 Interest payable Leases payable 59,503 Liability for reported but unpaid and incurred but not reported claims 1,776,880 2,154,834 4,448,490 1,816,011 6,473,312 Total noncurrent liabilities 4,448,490 8,289,323 Total liabilities 6,225,370 10,444,157 317,029 317,029 461,314 461,314 950,318 (2,538,751) (1,588,433) 22,766,871 2,821,247 25,588,118 Total current liabilities 427,652 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims Leases payable Net pension liability DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions and OPEB Total deferred inflows of resources 427,652 NET POSITION Net investment in capital assets Unrestricted (deficit) $ Total net position (deficit) 284 $ $ 617,707 617,707 Risk Management $ 2,082 Employee Benefits Trust $ 4,555,304 Total $ 4,567,791 10,306,843 98,226,638 120,584,838 108,762 6,473,699 6,595,530 47,649 437,556 528,317 9,248,988 1,054,770 2,245,153 10,645,497 19,714,324 110,747,967 145,167,126 92,950 6,135 48,605,660 (284,698) 69,586 (6,135) 55,624 (41,469,620) 504,378 839,250 55,624 26,866,745 20,553,574 110,803,591 172,033,871 345,843 345,843 266,472 266,472 2,428,523 2,428,523 4,040,033 839,667 7,092,032 331,691 245,832 2,348,802 3,938,930 3,939,865 16,280,574 961,412 2,945,753 315,317 25,784 25,784 179,572 19,059,000 16,415,911 239,075 35,474,911 23,636,080 21,440,340 49,435,786 54,963,111 $ 54,963,111 576,413 2,080,960 1,602,426 2,392,424 14,605,188 57,620,484 1,602,426 71,960,723 81,256,564 23,042,766 121,396,509 146,617 146,617 114,194 114,194 1,039,154 1,039,154 (12,105) (60,491,659) 87,913,103 23,705,084 28,321,647 (60,503,764) $ 87,913,103 $ 52,026,731 285 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds Year Ended June 30, 2023 Equipment Services Technology Infrastructure Sheriff Warehouse OPERATING REVENUES Charges for services $ 22,929,007 31,857 Miscellaneous $ 45,106,694 2,100 22,960,864 45,108,794 Personal services 4,957,106 8,487,918 Supplies 12,749,409 537,399 Other services 1,672,488 24,322,252 14,788 44,389 Total operating revenues $ 3,196,143 3,196,143 OPERATING EXPENSES 3,182,957 Legal Insurance and claims Leases and rentals Repairs and maintenance 2,012,011 25,100 Travel and transportation 7,817 112,285 126,080 180,287 10,845,593 10,913,196 Total operating expenses 21,719,986 55,288,132 3,182,957 Operating income (loss) 1,240,878 (10,179,338) 13,186 Investment income (1,142) (52,110) Interest expense Gain (loss) on disposal of capital assets 96,979 (67,082) (989,233) 95,837 (1,108,425) 1,336,715 (11,287,763) Utilities Depreciation NONOPERATING REVENUES (EXPENSES) Total nonoperating revenues (expenses) Income (loss) before contributions and transfers Capital contributions 13,186 18,396 (14,500) Transfers out Change in net position 1,322,215 (11,269,367) 13,186 Total net position (deficit), July 1, 2022 (2,910,648) 36,857,485 604,521 Total net position (deficit), June 30, 2023 $ (1,588,433) 286 $ 25,588,118 $ 617,707 Employee Risk Management $ 44,287,945 963,726 Benefits Trust $ 185,559,329 Total $ 301,079,118 997,683 45,251,671 185,559,329 302,076,801 2,346,249 1,919,973 17,711,246 38,890 34,790 16,543,445 2,997,601 166,303,426 195,295,767 24,200,819 5,793,836 29,994,655 3,128 27,060 89,365 6,860 2,043,971 2,754,122 2,754,122 25,154 1,620 146,876 10,971,673 11,286,914 193,431 32,559,394 174,087,565 286,838,034 12,692,277 11,471,764 15,238,767 (60,052) 546,615 433,311 (25,784) (92,866) (892,254) (85,836) 546,615 (551,809) 12,606,441 12,018,379 14,686,958 18,396 (14,500) $ 12,606,441 12,018,379 14,690,854 (73,110,205) 75,894,724 37,335,877 (60,503,764) $ 87,913,103 $ 52,026,731 287 Maricopa County Combining Statement of Cash Flows All Internal Service Funds Year Ended June 30, 2023 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from other funds Receipts from customers Other receipts Payments for goods and services Payments for personal services and benefits $ Equipment Technology Sheriff Services Infrastructure Warehouse 22,810,409 $ 115,665 Net cash provided by operating activities 45,049,108 $ 3,196,143 57,586 31,857 2,100 (16,145,842) (5,295,911) (35,437,902) (9,161,311) (3,108,248) 1,516,178 509,581 87,895 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Loan repaid to General Fund Net cash used for noncapital financing activities (87,895) (87,895) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Proceeds from disposal of assets (782,569) (331,474) 96,979 Principal paid on lease debt Interest paid on lease debt Cash transfers to other funds Net cash used for capital and related financing activities 6,500 (53,902) (73,019) CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash used for investing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1, 2022 $ Cash and cash equivalents, June 30, 2023 RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES: Operating income (loss) $ Adjustments to reconcile operating income (loss) to net cash provided by operating activities: Depreciation/Amortization expense Liability for reported but unpaid and incurred but not reported claims - noncurrent Changes in assets and deferred outflows of resources [(increase)/decrease] and liabilities and deferred inflows of resources [increase/(decrease)]: Accounts receivable Inventories Prepaids Deferred outflows of resources related to pensions and OPEB Accounts payable Employee compensation Pension liabilities Other liabilities Liability for reported but unpaid and incurred but not reported claims - current Deferred inflows of resources related to pensions and OPEB Net cash provided by operating activities SCHEDULE OF NONCASH INVESTING, CAPITAL AND NONCAPITAL FINANCING ACTIVITIES: Capital assets disposed Accumulated depreciation on capital assets disposed Loss on capital assets disposed Capital assets transferred to governmental funds (14,500) (700,090) (451,895) (1,142) (1,142) (81,052) (81,052) 814,946 (23,366) 1,164,079 10,106,103 1,979,025 $ 10,082,737 $ 1,240,878 $ (10,179,338) $ 180,287 10,913,196 (2,933) 245,997 (11,730) 309,022 519,923 190,754 748,255 37,511 158,665 296,789 164,208 102,305 935 (982,127) (1,516,189) $ 1,516,178 $ 509,581 $ $ (106,346) $ (233,635) $ 230,316 3,319 (2,421,771) 288 (28,531) (287,409) 106,346 Accumulated depreciation on capital assets transferred to governmental funds Loss on disposal of capital assets transferred to governmental funds Capital assets transferred from governmental funds Accumulated depreciation on capital assets transferred from governmental fund Capital contributions on capital assets expensed in governmental funds 13,186 1,438,286 983,485 109,340 (90,944) (18,396) 87,895 $ Risk Employee Benefits Management Trust 44,287,945 $ Total 161,126,630 $ 276,470,235 22,011,190 22,184,441 (37,235,621) (2,631,463) (173,982,566) (1,966,981) (265,910,179) (19,055,666) 5,384,587 7,188,273 14,686,514 963,726 997,683 (87,895) (87,895) (1,114,043) 103,479 (205,427) (259,329) (205,427) (73,019) (14,500) (1,357,412) (98,321) (98,321) 251,590 251,590 71,075 71,075 5,080,839 7,439,863 13,312,282 5,228,086 95,342,079 111,840,347 $ 10,308,925 $ 102,781,942 $ 125,152,629 $ 12,692,277 $ 11,471,764 $ 15,238,767 193,431 11,286,914 (5,675,060) (5,675,060) (108,762) (2,421,509) (2,533,204) (3,795,363) (303,416) (4,386,188) 205,736 169,114 94,297 1,092,356 2,564,278 (1,039,568) 2,566,024 (12,405) 19,623 203,394 49,194 171,778 681,969 (1,449,807) (1,448,872) 977,817 (332,706) 776,817 (3,322,139) (201,000) (491,117) $ $ 5,384,587 $ $ 7,188,273 $ 14,686,514 $ (339,981) 336,662 3,319 (2,421,771) 1,438,286 983,485 109,340 (90,944) (18,396) 289 290 Financial Section Combining and Individual Fund Statements Fiduciary Funds Fiduciary Funds Maricopa County Listing of Fiduciary Funds FIDUCIARY FUNDS Custodial Funds – to account for assets held by the County in a fiduciary capacity, including the assets held and invested by the County Treasurer on behalf of school districts, fire districts, street lighting districts and other improvement districts and property tax collections not yet disbursed to taxing jurisdictions. 293 Maricopa County Combining Statement of Fiduciary Net Position Custodial Funds June 30, 2023 Other External Investment Pool Property Tax Collections Special Purpose Total Other Assets Cash and investments in bank and on hand $ $ Cash and investments held by the County Treasurer 4,653,130,763 Property tax receivable for other governments Interest receivable Total assets 20,775,007 $ 4,673,905,770 $ 29,576,004 233,125,248 $ 262,701,252 $ 43,655,547 $ 43,655,547 150,070,126 179,646,130 86,313 193,811,986 233,125,248 86,313 456,513,238 $ Liabilities Property tax payable to other governments Total liabilities 29,576,004 29,576,004 29,576,004 29,576,004 Net position Restricted for: Pool participants Individuals, organizations, and other governments Total net position 4,673,905,770 233,125,248 $ 4,673,905,770 $ 233,125,248 294 193,811,986 $ 193,811,986 426,937,234 $ 426,937,234 Maricopa County Combining Statement of Changes in Fiduciary Net Position Custodial Funds Year Ended June 30, 2023 Other External Investment Pool Property Tax Collections Special Purpose Total Other Additions: Contributions from pool participants $ 10,350,034,898 Property tax collections for other governments $ $ $ 5,072,796,738 5,072,796,738 Fine, fees, and forfeitures collected for other governments 116,093,598 116,093,598 88,432 88,432 88,432 88,432 24,053,306 24,053,306 140,235,336 5,213,032,074 Investment earnings: Interest and dividends Net increase (decrease) in fair value of investments 96,639,133 (40,643,820) 55,995,313 Total investment earnings Other 10,406,030,211 Total additions 5,072,796,738 Deductions Distributions to pool participants 10,264,689,161 Property tax distributions to other governments Fines, fees, and forfeitures distributed to other governments 5,086,676,909 5,086,676,909 Other Total deductions Net increase (decrease) in fiduciary net position Net position, July 1, 2022 Net position, June 30, 2023 $ 163,277,032 163,277,032 23,209,765 23,209,765 10,264,689,161 5,086,676,909 186,486,797 5,273,163,706 141,341,050 (13,880,171) (46,251,461) (60,131,632) 4,532,564,720 247,005,419 240,063,447 487,068,866 4,673,905,770 $ 233,125,248 295 $ 193,811,986 $ 426,937,234 296 STATISTICAL SECTION Maricopa County Listing of Statistical Information Contents Page Financial Trends Information These schedules contain trend information to help the reader understand how the County’s financial performance and well-being have changed over time. 300 Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Revenue Capacity 306 These schedules contain information to help the reader assess the County’s most significant local revenue source, the property tax. Tax Revenues by Source, Governmental Funds Assessed Value and Estimated Market Value of Taxable Property Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections Debt Capacity 311 These schedules present information to help the reader assess the affordability of the County’s current levels of outstanding debt and the County’s ability to issue additional debt in the future. Ratios of Outstanding Debt by Type Legal Debt Margin Information Pledged Revenue Coverage Demographic and Economic Information 314 These schedules offer demographic and economic indicators to help the reader understand the environment within which the County’s financial activities take place. Demographic and Economic Statistics Principal Employers Operating Information 316 These schedules contain service and infrastructure data to help the reader understand how the information in the County’s financial report relates to the services the County provides and the activities it performs. Budgeted Full-time Equivalent County Employees by Function/Program Operating Indicators by Function/Program Capital Asset Statistics by Function/Program 299 Maricopa County Net Position by Component Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year NET POSITION 2013-14 2014-15 2015-16 2016-17 2017-18 $ 3,423,302,960 $ 3,290,683,747 $ 3,344,675,215 $ 3,398,536,569 $ 3,540,327,347 542,254,851 638,467,088 $ 4,604,024,899 207,841,344 (347,913,774) $ 3,150,611,317 562,881,286 (767,502,521) $ 3,140,053,980 706,572,442 (941,448,887) $ 3,163,660,124 657,310,403 (1,184,406,509) $ 3,013,231,241 $ 25,668,674 $ 26,261,574 $ 22,487,405 $ 54,519,520 $ 72,367,100 Total business-type activities net position (2) $ 2,199,816 4,057,242 31,925,732 $ 1,335,851 (90,428) 27,506,997 $ 1,425,160 7,492,157 31,404,722 $ 7,091,488 (7,240,598) 54,370,410 $ 4,942,173 (4,374,706) 72,934,567 Governmental activities Net investment in capital assets Restricted Unrestricted Total governmental activities net position (2) Business-type activities (1) Net investment in capital assets Restricted Unrestricted Primary government Net investment in capital assets $ 3,448,971,634 $ 3,316,945,321 $ 3,367,162,620 $ 3,453,056,089 $ 3,612,694,447 Restricted 544,454,667 642,524,330 $ 4,635,950,631 209,177,195 (348,004,202) $ 3,178,118,314 564,306,446 (760,010,364) $ 3,171,458,702 713,663,930 (948,689,485) $ 3,218,030,534 662,252,576 (1,188,781,215) $ 3,086,165,808 2018-19 2019-20 2020-21 2021-22 2022-23 Net investment in capital assets $ 3,775,784,925 $ 3,808,175,194 $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 Restricted 529,365,206 (887,071,085) $ 3,418,079,046 588,854,025 (718,666,721) $ 3,678,362,498 648,776,170 701,204,479 (497,030,965) (109,817,297) $ 4,033,379,664 $ 4,545,035,152 921,643,459 17,698,626 $ 4,954,259,322 $ 69,913,021 $ 79,796,197 Total business-type activities net position (2) $ 6,487,405 (1,980,230) 74,420,196 $ 5,699,657 (562,617) 84,933,237 Unrestricted Total primary government net position (2) Fiscal Year NET POSITION Governmental activities Unrestricted Total governmental activities net position (2) Business-type activities (1) Net investment in capital assets Restricted Unrestricted Primary government Net investment in capital assets $ 3,845,697,946 $ 3,887,971,391 $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 Restricted 535,852,611 (889,051,315) $ 3,492,499,242 594,553,682 (719,229,338) $ 3,763,295,735 648,776,170 701,204,479 (497,030,965) (109,817,297) $ 4,033,379,664 $ 4,545,035,152 921,643,459 17,698,626 $ 4,954,259,322 Unrestricted Total primary government net position (2) (1) (2) Beginning in FY2021, the County has no business-type activities. This schedule was not adjusted for the fiscal year 2014, 2015, 2019, and 2022 restatements to net position. 300 Maricopa County Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 335,684,108 $ 181,797,152 $ 224,110,276 1,258,047,273 983,331,133 1,053,190,489 2022-23 2020-21 2021-22 231,820,454 $ 282,490,554 1,196,705,109 1,189,756,597 1,377,039,062 Expenses Governmental activities: General government: $ Public safety 207,955,003 $ 298,074,702 $ 298,879,283 $ 299,036,354 1,009,516,114 1,134,891,006 1,105,661,191 1,151,866,658 Highways and streets 87,024,827 163,763,533 76,998,103 81,764,699 Health, welfare and sanitation 403,901,208 408,240,433 423,976,768 421,783,977 Culture and recreation 50,968,956 56,569,834 57,510,396 54,634,235 Education 26,684,832 5,237,255 28,791,958 4,568,950 30,388,968 7,793,505 32,487,572 10,201,276 1,791,288,195 2,094,900,416 2,001,208,214 2,051,774,771 25,070,360 25,070,360 23,483,448 23,483,448 22,170,085 22,170,085 21,540,873 21,540,873 $ 1,816,358,555 $ 2,118,383,864 $ 2,023,378,299 $ 2,073,315,644 $ $ $ $ Interest on long-term debt Total governmental activities expenses Business-type activities: (1) Housing Authority Total business-type activities expenses Total primary government expenses $$ 3 1 $ $ 335,518,167 110,921,809 96,484,146 186,689,526 126,498,359 121,359,034 186,637,772 510,564,865 524,347,318 651,910,529 919,001,491 855,376,167 878,967,437 68,111,240 50,944,557 50,895,104 56,826,436 57,100,027 68,613,208 32,177,201 6,676,793 25,727,303 5,148,586 25,050,440 6,775,142 24,428,055 7,846,000 22,917,773 5,230,128 22,630,390 8,017,533 2,322,183,289 1,867,780,195 2,198,621,506 2,563,125,904 2,534,230,280 2,877,423,569 26,543,652 26,543,652 2 $ $ 2,348,726,941 2 29,808,837 29,808,837 28,013,475 28,013,475 $ 1,897,589,032 $ 2,226,634,981 $ 2,563,125,904 $ 2,534,230,280 $ 2,877,423,569 $$ 2 $ $ $ $ $ 1 5 6 3 6 2 2 Program Revenues Governmental activities: Charges for services: General government 24,448,700 21,160,957 25,333,842 33,053,012 Public safety 140,384,054 140,199,614 146,926,079 144,995,226 Highways and streets 15,534,823 12,462,039 12,697,999 21,201,835 Health, welfare and sanitation 51,138,425 53,105,959 53,314,590 57,117,315 Culture and recreation 14,943,535 15,778,337 16,899,346 18,850,252 465,823 1,536,658 1,482,306 303,176 259,112,950 49,569,607 555,597,917 280,244,440 31,634,976 556,122,980 299,738,864 48,872,828 605,265,854 291,283,576 43,627,038 610,431,430 Education Operating grants and contributions Capital grants and contributions Total governmental activities program 1 28,441,286 72,486,783 56,325,645 138,100,069 138,346,450 141,580,655 21,803,762 20,481,717 21,907,005 21,789,454 25,210,662 51,294,614 56,571,939 57,681,166 55,927,380 59,335,787 67,204,222 61,838,713 21,064,986 17,582,925 17,250,204 19,306,045 19,280,449 21,468,299 276,902 443,333 469,269 24,700 819,385 1,210,741 314,298,745 28,675,007 615,213,815 277,291,845 31,546,098 580,586,101 374,699,238 29,527,666 692,256,922 634,413,147 22,051,183 975,841,473 632,094,057 24,506,537 979,948,545 585,082,052 25,704,539 944,505,258 2 2 80,821,088 140,595,616 5 3 51,880,544 144,795,378 2 2 30,763,639 144,081,188 Business-type activities: (1) Charges for services: Housing Authority 6,741,213 5,717,592 4,656,105 3,080,820 Operating grants and contributions 15,529,154 1,440,065 16,300,111 337,818 17,062,511 280,121 17,720,704 23,354,184 Capital grants and contributions Total business-type program revenues Total primary gov’t program revenues $ 23,710,432 579,308,349 $ 22,355,521 578,478,501 $ 21,998,737 627,264,591 $ 44,155,708 654,587,138 5 1 2 4 $$ 5,432,500 6,117,889 6,531,775 18,735,718 20,696,076 20,857,185 3,945,673 17,754,740 12,375,329 44,864,294 660,078,109 301 $ 30,920,747 611,506,848 $ 36,661,844 728,918,766 $ 975,841,473 $ 979,948,545 $ 944,505,258 Maricopa County Changes in Net Position (Continued) 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 $ (1,235,690,278) (1,359,928) $ (1,538,777,436) (1,127,927) $ (1,395,942,360) $ (1,441,343,341) $ (1,706,969,474) (171,348) 22,614,835 18,320,642 $ (1,287,194,094) $ (1,506,364,584) 1,111,910 8,648,369 $(1,587,284,431) $(1,554,281,735) $ (1,932,918,311) $ (1,237,050,206) $ (1,539,905,363) $ (1,396,113,708) $ (1,418,728,506) $ (1,688,648,832) $ (1,286,082,184) $ (1,497,716,215) $ (1,587,284,431) $(1,554,281,735) $ (1,932,918,311) $ $ $ $ Net (Expense)/Revenue Governmental activities Business-type activities (1) Total primary government net expense General Revenues and other Changes in Net Position Governmental activities: Taxes Property taxes, levied for gen. purposes Property taxes, levied for Flood Control District $ 429,235,095 $ 460,057,355 492,533,082 $ 528,258,272 $ 555,750,125 39,287,012 Property taxes, levied for Street Light District 14,246,516 6,070,638 43,266,625 49,311,618 58,160,420 19,677,385 6,014,834 19,624,840 4,651,612 20,361,928 4,802,705 Unrestricted share of state sales taxes 447,541,942 476,452,381 497,359,100 Sales tax – Jail construction & operation 133,929,831 140,492,834 5,394,707 4,915,704 Unrestr. share of state vehicle lic. tax 126,137,174 Grants and contributions not restricted to specific programs Unrestricted investment earnings Property taxes, levied for Library District Surcharge tax – Stadium District Miscellaneous Total governmental activities 593,694,954 $ 627,273,672 62,216,487 65,992,307 70,471,344 21,525,613 5,488,949 22,817,801 5,806,391 24,236,319 520,259,714 552,699,587 146,246,549 152,780,682 4,772,596 4,740,138 135,043,057 146,241,079 152,286,541 3,011,264 2,749,905 3,285,655 3,153,762 3,542,818 2,150,743 6,720,371 8,411,227 6,422,992 11,828,376 667,714,689 682,211,005 $ 670,387,860 75,320,159 80,260,117 75,680,136 25,710,591 27,508,646 26,451,216 5,694,636 4,357,486 4,467,376 4,560,197 589,779,232 622,830,699 727,604,497 866,717,711 920,121,746 161,856,282 172,789,542 182,556,542 210,484,572 249,052,141 270,221,440 5,973,721 6,003,193 4,882,593 3,842,556 6,558,390 7,660,619 162,544,146 172,111,273 173,793,081 197,558,288 194,915,156 207,248,974 1,695,129 1,709,483 1,932,630 3,625,878 3,838,049 44,936,986 45,026,659 2,571,499 (104,256,572) 48,239,269 24,138,258 11,801,107 12,947,665 13,722,331 13,114,487 16,415,091 10,559,397 25,204,630 54,877,375 44,954,623 1,231,143,180 1,307,191,558 1,385,385,023 1,464,949,485 1,556,540,591 1,692,041,899 1,769,034,425 1,942,301,597 2,065,937,223 2,279,364,129 14,229 293,214 Business-type activities: (1) 89 Unrestricted investment earnings Gain (loss) on disposal of capital assets 164,356 Miscellaneous 14,686 3,516 2,513,522 10,408 356,833 1,809,260 336,929 229,286 4,337,468 350,853 243,515 271,740 1,234,236 80,505 358,696 373,719 1,864,672 (468,781) Special item – repayment agreement. Special item – forgiveness of debt 164,445 Total business-type activities Total primary government 44,661 409,657 275,553 617,923 $ 1,231,307,625 $ 1,307,809,481 $ 1,389,722,491 $ 1,465,300,338 $ 1,556,784,106 $ 1,692,415,618 $ 1,770,899,097 $ 1,942,301,597 $ 2,065,937,223 $ 2,279,364,129 $ $ $ $ 355,017,166 $ 511,655,488 $ 346,445,818 $ 355,017,166 $ 511,655,488 $ 346,445,818 Change in Net Position Governmental activities Total primary government (4,547,098) $ (231,585,878) (1,195,483) Business-type activities (1) $ (510,004) (5,742,581) $ (232,095,882) (1) $ (10,557,337) $ 4,166,120 23,606,144 $ (150,428,883) 22,965,688 18,564,157 (6,391,217) $ 46,571,832 $ (131,864,726) Beginning in FY21, the County has no business-type activities. 302 $ 404,847,805 $ 262,669,841 1,485,629 10,513,041 406,333,434 $ 273,182,882 Maricopa County Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2013-14 2014-15 2016-17 2015-16 2017-18 General Fund Nonspendable $ 19,770,325 $ $ 17,405,417 113,712,308 7,490,426 $ 140,973,059 $ 82,953,184 16,042,494 116,401,095 $ $ $ 4,897,508 $ 13,987,368 $ 9,160,980 $ 3,117,940 181,008,620 $ 184,441,837 32,584,403 220,144,180 4,674,317 $ Restricted Committed Assigned Unassigned Total general fund 134,647,118 133,944,163 14,096,188 37,200,522 162,027,719 $ 4,219,798 $ All Other Governmental Funds Nonspendable 2,287,114 3,525,455 Restricted 541,960,456 660,382,287 589,023,438 604,371,629 635,874,336 Committed 554,526,504 591,699,861 573,918,793 523,158,485 463,839,100 (2,385,853) $ 1,096,388,221 (5,105,739) $ 1,251,873,917 (7,626,568) $ 1,159,535,461 (25,927,760) $ 1,106,276,671 (11,300,036) $ 1,091,938,855 2018-19 2019-20 2021-22 2022-23 Assigned Unassigned Total all other governmental funds (a) Fiscal Year 2020-21 General Fund Nonspendable $ 2,900,922 $ 3,586,438 $ 3,414,556 211,707,531 25,752,261 $ 240,360,714 $ 166,454,076 133,527,954 303,568,468 $ 440,118,199 177,293,640 620,826,395 $ $ 5,565,851 $ 10,303,661 $ 4,567,866 $ 5,470,789 683,820,008 22,775,281 $ 711,163,155 $ 429,119,084 11,866,022 446,455,895 $ $ 8,714,784 Restricted Committed Assigned Unassigned Total general fund All Other Governmental Funds Nonspendable 3,440,019 9,964,822 Restricted 545,448,438 673,961,703 680,442,244 1,199,101,971 1,055,307,227 Committed 553,189,236 641,767,542 637,940,735 886,672,204 987,029,393 (9,003,731) $ 1,093,073,962 (10,054,016) $ 1,311,241,080 (37,222,004) $ 1,291,464,636 (56,967,390) $ 2,038,771,607 (59,724,162) $ 1,991,327,242 Assigned Unassigned Total all other governmental funds (a) (a) This schedule was not adjusted for the fiscal year 2014, 2015, 2019, and 2022 restatements to net position. 303 Maricopa County Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2014-15 2013-14 2015-16 2016-17 Revenues Taxes $ 615,127,234 $ 658,661,300 $ 700,515,589 $ 750,405,039 Licenses and permits 44,295,063 46,201,667 48,262,561 48,700,983 Intergovernmental 879,890,750 918,331,602 981,754,741 998,720,971 Charges for services 158,418,054 159,083,257 168,530,522 185,427,699 Fines and forfeits 28,981,715 25,235,245 25,493,837 26,310,542 Special assessments 6,070,638 6,014,834 4,651,612 4,802,705 Interest income Miscellaneous 1,028,984 16,886,275 6,074,604 16,239,536 8,430,222 14,674,505 6,759,042 42,248,589 Total revenues 1,750,698,713 1,835,842,045 1,952,313,589 2,063,375,570 Expenditures General government 135,670,741 149,081,146 150,486,509 166,780,945 Public safety 960,017,951 1,005,051,315 1,028,863,167 1,052,402,924 Highways and streets 51,635,626 54,006,764 53,598,284 60,715,322 Health, welfare and sanitation 400,282,296 404,729,045 420,071,249 418,692,520 Culture and recreation 36,936,932 36,529,631 39,798,518 36,493,895 Education 26,506,855 28,096,030 30,097,656 32,585,868 Principal 20,742,071 17,866,397 11,306,342 159,062,866 Interest 5,391,181 4,726,682 13,032,602 10,201,276 1,250 1,215,938 26,350 182,229 Debt service Other Payment to escrow agent Capital outlay Total expenditures 228,759,097 213,487,827 236,196,502 208,901,034 1,865,944,000 1,914,790,775 1,983,477,179 2,146,018,879 (115,245,287) (78,948,730) (31,163,590) (82,643,309) Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfers in 516,830,224 379,355,888 400,522,300 514,645,299 Transfers out (521,296,732) (379,281,420) (400,522,300) (514,576,467) 8,329,091 13,886,373 3,404,460 Financed purchase agreements Subscription-based IT arrangements (SBITA) Proceeds from bond issuance 185,580,000 Premium on refunding bonds 15,633,417 44,460,000 Payment to escrow agent (29,910,000) Lease agreements Total other financing sources (uses) Net change in fund balances (4,466,508) $ (119,711,795) 209,616,976 $ 130,668,246 (16,023,627) $ (47,187,217) 47,933,292 $ (34,710,017) Debt service as a percentage of noncapital expenditures 1.6% 1.3%(a) (a) Data was adjusted in fiscal year 2021. 304 1.4% 8.5% Fiscal Year 2017-18 $ 795,277,329 2018-19 $ 847,090,715 2019-20 $ 2020-21 892,237,482 $ 970,262,622 2022-23 2021-22 $ 1,031,994,962 $ 1,037,953,474 49,810,802 50,182,867 49,279,753 55,560,181 57,136,064 54,810,300 1,055,046,783 1,099,920,175 1,213,427,734 1,592,630,744 1,715,223,820 1,756,696,959 179,472,435 179,199,628 201,807,783 203,773,234 205,379,066 216,515,544 24,538,265 22,608,121 18,393,799 17,345,362 17,380,120 18,130,740 5,696,239 5,806,391 5,694,636 4,357,486 4,467,376 4,560,197 11,762,370 14,643,036 43,241,506 18,561,729 49,626,468 14,274,480 668,198 27,419,849 (100,600,902) 59,048,066 58,980,658 46,812,257 2,136,247,259 2,266,611,132 2,444,742,135 2,872,017,676 2,990,028,572 3,194,460,129 158,063,474 164,077,141 175,916,391 191,883,280 228,140,297 224,169,318 1,009,352,169 1,067,426,744 1,017,005,967 1,052,776,254 1,197,746,043 1,544,872,159 68,695,845 72,644,031 83,928,382 82,383,930 85,331,611 94,888,243 512,762,868 529,466,214 636,348,147 906,765,536 847,351,130 857,422,650 38,469,355 42,687,958 42,841,396 46,307,685 47,614,333 52,145,219 32,652,609 26,180,509 24,643,209 23,969,852 22,588,267 21,475,649 128,699,375 27,414,666 66,450,775 64,541,059 95,530,556 379,221,870 6,683,405 5,159,606 6,775,142 7,846,000 6,385,861 9,354,852 776,046 2,970 825,546 1,133,346 270,958,232 304,754,331 267,678,531 229,712,036 287,005,911 407,453,774 2,227,113,378 2,239,814,170 2,322,413,486 2,606,185,632 2,818,827,355 3,591,003,734 (90,866,119) 26,796,962 122,328,649 265,832,044 171,201,217 (396,543,605) 653,076,678 506,382,572 596,002,917 508,931,067 940,081,573 1,238,448,689 (653,117,823) (511,525,439) (601,002,917) (508,931,067) (940,081,573) (1,238,434,189) 126,974 20,397,791 27,083,511 11,807,957 17,824,516 106,295,000 133,440,000 10,119,673 7,397,084 66,900,079 643,635,000 10,185,086 116,500,502 $ 25,634,383 6.7%(a) (5,142,867) $ 21,654,095 1.7% 156,234,875 $ 278,563,524 3.4%(a) 27,083,511 $ 292,915,555 3.0% 305 665,628,043 $ 836,829,260 4.0% 84,739,095 $ (311,804,510) 11.9% Maricopa County Tax Revenues by Source, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) General State Vehicle Highway Baseball Fiscal Year Property Taxes Sales Tax License Tax User Fuel Tax Stadium Tax 2013-14 475,802,697 447,541,942 135,565,922 89,630,002 0 2014-15 513,252,762 476,452,381 145,066,005 97,931,744 39 2015-16 549,496,444 497,359,100 156,925,539 102,652,222 13 2016-17 592,884,219 520,259,714 163,564,070 110,015,688 0 2017-18 627,447,326 (1) 552,699,587 174,552,131 114,233,608 0 2018-19 668,297,980 (1) 589,779,232 184,797,765 120,514,438 0 2019-20 704,798,347 (1) 622,830,699 186,644,889 115,626,687 0 2020-21 755,935,494 727,604,497 212,392,095 123,178,753 0 2021-22 776,384,431 866,717,711 209,460,690 132,192,701 0 2022-23 760,071,415 920,121,746 223,816,111 134,837,064 0 59.7% 105.6% 65.1% 50.4% Change 2014-23 Rental Fiscal Year Car Surcharge Street Jail Tax Lighting Assessments Total Revenues 2013-14 5,394,706 133,929,831 6,070,638 1,293,935,738 2014-15 3,564,212 140,492,834 6,014,834 1,382,774,811 2015-16 3,494,629 146,246,549 4,651,612 1,460,826,108 2016-17 4,740,138 (1) 152,780,682 4,802,705 1,549,047,216 2017-18 5,973,721 (1) 161,856,282 5,696,239 1,642,458,894 2018-19 6,003,193 (1) 172,789,542 5,806,391 1,747,988,541 2019-20 4,882,593 182,556,542 5,694,636 1,823,034,393 2020-21 3,842,556 210,484,572 4,357,486 2,037,795,453 2021-22 6,558,390 249,052,141 4,467,376 2,244,833,440 2022-23 7,660,619 270,221,440 4,560,197 2,321,288,592 42.0% 101.8% (24.9%) Change 2014-23 79.4% The Vehicle License Tax has a combined amount from the General and Transportation Funds. The Baseball Stadium Tax ended in November 1997, but small amounts continue to be remitted on delinquent tax returns. The Jail Tax was approved by the voters in the General Election on November 3, 1998. (1) Data was adjusted in fiscal year 2021. 306 0% Maricopa County Assessed Value and Estimated Market Value of Taxable Property Last Ten Fiscal Years (in thousands of dollars) Property Values Fiscal Total Total Secured Year Assessed Direct and Unsecured Total Assessed Value as a Ended June 30, Secured Unsecured Total Tax Rate Estimated Market Value Percentage of Total Estimated Market Value 2013-14 30,817,626 1,411,380 32,229,006 1.4637 310,300,015 10.4% 2014-15 33,658,024 1,421,622 35,079,646 1.5157 339,536,632 10.3% 2015-16 33,326,722 1,296,948 34,623,670 1.5757 338,995,111 10.2% 2016-17 34,806,838 1,328,657 36,135,495 1.6357 357,897,714 10.1% 2017-18 36,915,364 1,336,527 38,251,891 1.6357 377,202,043 10.1% 2018-19 39,174,219 1,249,013 40,423,232 1.6357 395,076,594 10.2 % 2019-20 41,687,136 1,507,190 43,194,326 1.6357 421,503,261 10.2 % 2020-21 44,233,928 1,471,041 45,704,969 1.6357 448,932,803 10.2% 2021-22 47,172,987 1,551,139 48,724,126 1.5807 478,005,576 10.2% 2022-23 49,855,345 1,719,673 51,575,018 1.4570 510,359,586 10.1% Secured and Unsecured assessed property values and estimated market values are determined each calendar year. The tax rates are applicable beginning July 1st of the next fiscal year. The Board of Supervisors approves the tax rates on the third Monday of August. Source: Maricopa County Office of Budget and Finance 307 Maricopa County Direct and Overlapping Property Tax Rates Last Ten Fiscal Years County Direct Rates General Obligation Flood County Fiscal Year County Operating Debt Service Control District Library District Total Direct 2013-14 1.2807 0.0000 0.1392 0.0438 1.4637 2014-15 1.3209 0.0000 0.1392 0.0556 1.5157 2015-16 1.3609 0.0000 0.1592 0.0556 1.5757 2016-17 1.4009 0.0000 0.1792 0.0556 1.6357 2017-18 1.4009 0.0000 0.1792 0.0556 1.6357 2018-19 1.4009 0.0000 0.1792 0.0556 1.6357 2019-20 1.4009 0.0000 0.1792 0.0556 1.6357 2020-21 1.4009 0.0000 0.1792 0.0556 1.6357 2021-22 1.3459 0.0000 0.1792 0.0556 1.5807 2022-23 1.2473 0.0000 0.1592 0.0505 1.4570 Overlapping Rates Central Arizona Water Other Community Fiscal Year State of Arizona Education Equalization Conservation District Special Districts College District 2013-14 0.0000 0.5123 0.1400 0 - 5.3000 1.5340 0.7463 - 10.2183 0 - 4.0399 2014-15 0.0000 0.5089 0.1400 0 - 5.6098 1.5187 0.7734 - 10.6361 0 - 1.9500 2015-16 0.0000 0.5054 0.1400 0 - 7.1179 1.4940 0.8514 - 11.1449 0 - 3.9715 2016-17 0.0000 0.5010 0.1400 0 - 8.6974 1.4651 0.7461 - 11.1007 0 - 3.9734 2017-18 0.0000 0.4875 0.1400 0 - 6.6857 1.1956 0.9005 - 11.0462 0 - 3.9895 2018-19 0.0000 0.4741 0.1400 0 - 5.6925 1.3754 0.9931 - 10.6214 0 - 3.9610 2019-20 0.0000 0.4566 0.1400 0 - 5.7956 1.3285 1.1981 - 9.0052 0 - 3.7438 2020-21 0.0000 0.4426 0.1400 0 - 5.3007 1.2881 1.3032 - 9.1474 0 - 3.6834 2021-22 0.0000 0.4263 0.1400 0 - 4.8421 1.2257 1.0905 - 9.5191 0 - 3.3906 2022-23 0.0000 0.0000 0.1400 0 - 4.3378 1.1894 1.2755 - 9.0802 0 - 3.2071 Source: Maricopa County Office of Budget and Finance All tax rates are per $100 assessed valuation. 308 School Districts Cities Maricopa County Principal Property Taxpayers Current Year and Nine Years Ago 2022-23 2013-14 Percentage of Percentage of Total County Secondary Valuation Taxpayer 1,398,889,377 ARIZONA PUBLIC SERVICE COMPANY Rank Assessed Value Total County Secondary Valuation Rank Assessed Value 1 1.94% 1,083,144,495 1 3.36% SOUTHWEST GAS CORPORATION (T&D) 269,845,716 2 0.37% 147,481,461 3 0.46% SOUTHERN CALIFORNIA EDISON CO (T&D) 115,673,692 3 0.16% 128,749,055 4 0.40% WAL-MART STORES INC 105,750,273 4 0.15% 81,668,598 6 0.25% EL PASO ELECTRIC CO (T&D) 101,852,944 5 0.14% 124,582,571 5 0.39% QWEST CORPORATION 91,783,445 6 0.13% 153,665,296 2 0.48% TARGET CORPORATION 75,215,927 7 0.10% 48,520,001 15 0.15% SMITHS FOOD & DRUG CENTERS INC 67,297,890 8 0.09% 33,295,348 19 0.10% INTEL CORPORATION 65,757,109 9 0.09% PUBLIC SERVICE COMPANY OF NEW MEXICO 61,924,660 10 0.09% 72,976,296 10 0.23% VERIZON WIRELESS 60,484,045 11 0.08% 67,406,745 11 0.21% UNION PACIFIC RAILROAD 53,515,659 12 0.07% ARIZONA PUBLIC SERVICE COMPANY (CWIP) 45,028,306 13 0.06% ARIZONA SOLAR ONE LLC 44,675,575 14 0.06% 39,305,759 17 0.12% CI PHOENIX-CHANDLER I-VII LLC 43,512,665 15 0.06% BNSF RAILWAY COMPANY 42,665,329 16 0.06% ESPLANADE OWNER LP 42,647,492 17 0.06% UNISOURCE ENERGY CORPORATION 41,126,227 18 0.06% WELLS FARGO BANK NA 38,467,681 19 0.05% SOUTHRN CAL PUBLIC PWR AUTH (PALO VERDE) 34,938,372 20 0.05% 48,669,621 14 0.15% MESQUITE POWER LLC 79,950,000 7 0.25% A T & T MOBILITY LLC 76,567,217 8 0.24% SCOTTSDALE FASHION SQUARE LLC 41,655,203 16 0.13% SUNDEVIL POWER HOLDINGS LLC 73,220,160 9 0.23% NEW HARQUAHALA GENERATING CO, LLC 58,500,000 12 0.18% GILA RIVER POWER, LP 48,989,655 13 0.15% HOST KIERLAND LP 38,457,086 18 0.12% SAFEWAY INC 32,150,072 20 0.10% Total Principal Taxpayers $ Countywide Secondary Valuation $ 72,238,314,892 2,801,052,384 Source: Maricopa County Assessor’s Office. 309 3.88% $ 2,478,954,639 $ 32,277,709,833 7.70% Maricopa County Property Tax Levies and Collections Last Ten Fiscal Years Collected within the Fiscal Year of the Levy Fiscal Total Collections to Date County Tax Year Levied Ended June 30, For the Fiscal Year Amount Percentage of Levy Collections 2013-14 463,734,687 454,630,238 98.04 5,717,442 460,347,680 99.27 2014-15 505,927,593 495,964,759 98.03 5,081,691 501,046,450 99.04 2015-16 539,956,426 532,594,860 98.64 5,046,871 537,641,731 99.57 2016-17 584,777,057 574,861,219 98.30 5,872,703 580,733,922 99.31 2017-18 619,337,610 608,182,650 98.20 6,819,374 615,002,024 99.30 2018-19 655,074,951 645,049,237 98.47 5,610,752 650,659,989 99.33 2019-20 700,013,306 682,188,952 97.45 11,426,606 693,615,558 99.09 2020-21 741,108,549 730,179,122 98.53 8,753,917 738,933,039 99.71 2021-22 763,298,461 751,571,044 98.46 9,598,258 761,169,303 99.72 2022-23 745,045,377 734,361,550 98.57 734,361,550 98.57 In Subsequent Years Percentage of Levy Amount Note: Collections to date may exceed 100%, as the initial amount levied is not updated to reflect any adjustments or exemptions arising from taxpayer disputes. County Tax Levied for the Fiscal Year Fiscal Year Ended June 30, County Operating Flood Control District County Library Total County 2013-14 409,775,397 39,842,985 14,116,305 463,734,687 2014-15 442,762,977 43,660,332 19,504,284 505,927,593 2015-16 471,193,529 49,512,136 19,250,761 539,956,426 2016-17 506,222,142 58,463,580 20,091,335 584,777,057 2017-18 535,870,745 62,198,813 21,268,052 619,337,610 2018-19 566,289,063 66,310,571 22,475,317 655,074,951 2019-20 605,109,318 70,887,943 24,016,045 700,013,306 2020-21 640,280,922 75,415,664 25,411,963 741,108,549 2021-22 655,778,021 80,429,826 27,090,614 763,298,461 2022-23 643,295,202 75,704,791 26,045,384 745,045,377 Source: Maricopa County Office of Budget and Finance 310 Maricopa County Ratios of Outstanding Debt by Type Last Ten Fiscal Years Other Governmental Activities Debt Fiscal Lease Stadium Stadium Year Ended June 30, 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 Revenue Bonds District Rev. Bonds District Loans 108,975,000 97,135,000 54,755,000 Certificates Special Assessment 19,260,000 16,010,000 12,685,000 9,280,000 5,800,000 49,465 44,727 22,913 14,464 6,813 Bond Premium of Participation Leases 559,708 16,046,812 10,809,836 5,211,138 9,650,549 8,042,124 12,555,424 7,886,137 3,216,849 1,608,424 185,580,000 185,580,000 230,040,000 239,530,000 122,185,000 236,125,000 170,870,000 249,525,000 110,955,000 46,283,111 38,071,774 Business-Type Activities Fiscal Year Ended June 30, 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 Subscriptions Financed Purchases 59,616,041 8,329,091 17,981,211 11,429,438 3,689,687 1,581,834 20,783,850 47,481,302 38,891,468 29,632,472 Pledged Revenue Obligations 6,373,931 6,432,523 6,325,996 27,855,398 26,099,216 30,216,072 35,224,245 500,825,000 251,755,000 Total Percentage Year Ended June 30 Primary of Assessed Government (c) Property Value (a) Per Capita (b) 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 135,218,104 329,578,153 288,159,956 283,830,438 284,776,265 162,025,030 304,688,519 226,237,439 792,458,317 491,638,711 0.42% 0.94% 0.83% 0.79% 0.74% 0.40% 0.71% 0.49% 1.63% 0.95% 34.28 81.10 69.39 67.05 65.99 37.11 69.76(1) 50.20 175.81 107.19 Fiscal Housing Authority Debt (d) Note: Details regarding the County’s outstanding debt can be found in the notes to the financial statements. (a) See Assessed Value and Estimated Market Value of Taxable Property schedule for assessed property value data. (b) Population data can be found in the Demographic and Economic Statistics schedule. (c) Includes other governmental activities and business-type activities debt. (d) Beginning in FY21, the County has no business-type activities (1) Data was adjusted in fiscal year 2021. 311 Maricopa County Legal Debt Margin Information Last Ten Fiscal Years Fiscal Year Debt limit 2013-14 2014-15 2015-16 2016-17 2017-18 $4,834,351,022 $5,261,946,989 $5,193,550,548 $5,420,324,171 $5,737,783,687 $4,834,351,022 $5,261,946,989 $5,193,550,548 $5,420,324,171 $5,737,783,687 0% 0% 0% 0% 0% 2018-19 2019-20 2020-21 2021-22 2022-23 $6,063,484,863 $6,479,148,959 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 $6,063,484,863 $6,479,148,959 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 0% 0% 0% 0% 0% Total net general obligation debt Legal debt margin Total net debt applicable to the limit as a percentage of debt limit Fiscal Year Debt limit Total net general obligation debt Legal debt margin Total net debt applicable to the limit as a percentage of debt limit Legal Debt Margin Calculation for Fiscal Year 2022-23 Full Cash Value Net Assessed Debt limit (15% of assessed value) $ 72,238,314,892 10,835,747,234 Debt applicable to limit: General obligation bonds Total net debt applicable to limit Legal debt margin $ 10,835,747,234 Note: The Arizona Constitution, Article 9, Section 8, states that a County may become indebted for an amount not to exceed fifteen percent of taxable property. 312 Maricopa County Pledged Revenue Coverage Last Ten Fiscal Years Stadium District Revenue Bonds Net Revenue Available Fiscal Year Gross Revenue For Debt Service (1) 2013-14 5,394,706 4,401,308 8,886,857 512,882 9,399,739 57% 47% 2014-15 3,564,657 4,275,019 3,250,000 440,946 3,690,946 97% 116% 2015-16 3,495,100 4,078,741 3,325,000 366,378 3,691,378 95% 110% 2016-17 3,786,822 4,169,995 3,405,000 290,568 3,695,568 102% 113% 2017-18 4,207,945 4,685,006 3,480,000 212,934 3,692,934 114% 127% 2018-19 1,266,621 16,417 135,210 5,935,210 21% 0% 2019-20 1,449 0 5,800,000 0 0 0 0% 0% 2020-21 0 0 0 0 0 0% 0% 2021-22 0 0 0 0 0 0% 0% 2022-23 0 0 0 0 0 0% 0% Gross Coverage Net Coverage Principal Debt Service Requirements Interest Total Gross Coverage Net Coverage Special Assessment Bonds Net Revenue Available Fiscal Year Gross Revenue For Debt Service (1) Principal Debt Service Requirements Interest Total 2013-14 94 29,564 15,214 4,369 19,583 0% 151% 2014-15 0 17,554 4,738 4,374 9,112 0% 193% 2015-16 23,361 17,300 21,814 1,801 23,615 99% 73% 2016-17 4,354 12,059 8,449 1,146 9,595 45% 126% 2017-18 5,077 8,940 7,651 545 8,196 62% 109% 2018-19 0 0 6,813 0 6,813 0% 0% 2019-20 0 0 0 0 0 0% 0% 2020-21 0 0 0 0 0 0% 0% 2021-22 0 0 0 0 0 0% 0% 2022-23 0 0 0 0 0 0% 0% Note: Details regarding the outstanding debt can be found in the notes to the financial statements. (1) Net revenue available for debt service consists of gross revenues plus beginning fund balance less expenditures not covered by bond proceeds and all transfers not applicable to debt retirement. Fund balance is included in net revenue since it represents unexpended pledged revenues. 313 Maricopa County Demographic and Economic Statistics Last Ten Fiscal Years Fiscal Year 2013-14 2014-15 2015-16 2016-17 2017-18 County 6.4% 5.3% 5.3% 4.50% 4.10% State 6.9% 5.9% 5.8% 5.10% 4.70% United States 6.1% 5.3% 4.9% 4.40% 4.00% Unemployment Rate (June 30) Population/Income Statistics Income (in thousands) $ Population Per Capita $ 167,439,604 (1) $ 175,437,829 3,944,859 4,063,700 42,445 (1) $ 43,172 $ 185,111,698 $ 196,779,825 4,152,800 4,233,300 $ 44,575 $ 46,484 $ 209,719,687 4,315,600 $ 48,596 Fiscal Year 2018-19 2019-20 2020-21 2021-22 2022-23 County 4.50% 10.30% (2) 6.60% 3.30% 3.90% State 4.90% 10.80% (2) 7.30% 3.30% 4.40% United States 3.70% 11.10% (2) 5.90% 3.60% 3.80% Unemployment Rate (June 30) Population/Income Statistics Income (in thousands) $ Population Per Capita 223,097,349 $ 4,366,583 $ 51,092 245,077,753 $ 4,436,908 (2) $ 55,236 249,677,860 $ 4,506,505 $ 56,255 268,713,717 $ 4,507,419 $ 59,759 288,842,282 4,586,431 $ 62,978 Source: Workforce Informer Arizona at www.workforce.az.gov for unemployment rate and population. U.S. Department of Commerce Bureau of Economic Analysis for income data. (1) Data was adjusted in fiscal year 2014. (2) Data was adjusted in fiscal year 2021. 314 Maricopa County Principal Employers Current Year and Nine Years Ago 2023 2014 Percentage of Employer Employees Rank Total County Employment Percentage of Employees Rank Total County Employment Banner Health 43,440 1 1.83% 25,270 3 1.39% State of Arizona 41,564 2 1.75% 49,278 1 2.72% Walmart 36,931 3 1.56% 32,169 2 1.77% Arizona State University 35,719 4 1.51% 12,222 7 0.67% Amazon.com 33,000 5 1.39% University of Arizona 22,089 6 0.93% Fry’s Food Stores 20,000 7 0.84% Maricopa County 15,550 8 0.66% 12,698 6 0.70% City of Phoenix 14,500 9 0.61% 14,983 4 0.83% Wells Fargo 14,315 10 0.60% 14,713 5 0.81% Intel Corporation 11,900 8 0.66% JPMorgan Chase & Co. 11,042 9 0.61% Bank of America 11,000 10 0.61% Total for Principal Employers Total Employment in Maricopa County 277,108 11.68% 2,372,971 1,813,869 As of June 30 Source: 195,275 The Phoenix Business Journal, Book of Lists. Arizona’s Economy – www.azeconomy.org 315 10.77% Maricopa County Budgeted Full-time Equivalent County Employees by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 General Government Board of Supervisors 27 27 28 28 28 27 27 29 28 Call Center 27 27 27 27 22 20 20 20 20 37 County Assessor 320 322 315 311 310 296 296 296 296 295 County Manager 18 18 18 17 21 31 34 27 17 23 Elections 52 52 52 52 28 31 29 57 56 66 Facilities Management 136 137 165 239 136 137 136 141 141 141 Finance 35 39 39 38 37 39 39 33 47 51 Workforce Management & Development 46 46 46 46 47 77 104 101 102 109 Enterprise Technology 169 202 216 214 215 217 217 205 205 211 Internal Audit 19 18 18 18 18 19 19 20 20 20 Management and Budget 19 18 19 19 16 16 15 15 Materials Management 39 37 40 37 27 27 27 26 26 26 Other General Government 89 90 85 86 87 90 91 91 88 91 Recorder 62 56 56 56 87 86 89 96 101 102 Employee Health Initiatives 26 28 28 25 25 Treasurer 53 55 55 57 64 59 70 70 68 71 Deputy County Manager 13 12 12 11 Assistant County Manager 12 11 9 9 Real Estate 28 9 9 5 3 12 10 30 32 32 32 35 37 Public Safety Adult Probation 1,100 1,117 1,143 1,164 1,200 1,197 1,201 1,192 1,167 1,154 Clerk of Superior Court 675 683 680 689 695 692 686 670 674 679 Constables 36 36 36 37 37 37 37 37 37 38 County Attorney 936 946 984 999 1,022 1,020 1,059 1,051 1,056 1,082 Court System 2,490 41 196 648 88 105 48 3,879 14 3 2,505 41 200 637 88 102 49 3,974 4 4 2,535 2,611 2,271 2,335 2,387 2,431 2,459 Emergency Management 15 15 17 16 36 Flood Control 252 228 187 186 188 Juvenile Probation 693 689 703 674 659 Medical Examiner 87 88 88 94 100 Planning & Development 77 85 80 85 88 Public Fiduciary 41 42 44 48 48 3,689 3,928 3,982 3,859 3,850 Deputy County Manager 40 13 16 15 15 Assistant County Manager 4 4 4 4 10 2,455 37 190 660 101 104 48 3,846 14 3 416 410 416 421 423 425 429 Air Quality 141 142 145 144 143 150 Animal Control 165 170 169 174 185 188 Correctional Health 477 464 475 482 486 Environmental Services 293 290 288 281 Human Services Other Health, Welfare and Sanitation 364 372 399 545 11 11 11 12 12 Public Health 613 625 633 622 618 Waste Resources and Recycling Mgmt 23 23 22 22 22 Assistant County Manager 2 2 2 Library District 165 165 164 165 Parks and Recreation 83 81 78 82 Stadium District 5 5 5 134 152 145 Sheriff 44 44 202 211 602 597 94 116 113 124 51 67 3,986 3,951 4 2 9 11 439 437 435 154 156 155 158 179 183 176 177 484 491 502 500 550 279 297 295 293 294 300 358 369 343 340 385 444 547 523 552 585 809 168 168 168 179 186 251 82 91 94 96 96 98 5 5 1 102 121 90 86 84 86 64 14,648 14,516 14,427 14,507 14,640 14,736 15,291 Highways and Streets Transportation Health, Welfare and Sanitation Culture and Recreation Education Education Service Total 13,970 14,316 14,531 Source: Maricopa County Adopted Budgets 316 Maricopa County Operating Indicators by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program General Government County Assessor Number of parcels assessed Elections Registered voters Number voting (1) Public Safety Adult Probation Probationers Community service hours Collections County Attorney Adult felony filings Juvenile filings Flood Control District Linear miles of watercourses delineated Presentation, consultation requests completed Square miles of watershed studies completed Drainage complaint investigations conducted <30 days Justice Courts Annual new filings Total non-jury trials commenced Total jury trials commenced Juvenile Probation (3) Population under 18 years old Population 8 to 17 Juveniles brought to detention Average detention length (days) Superior Court Annual Case Filings (3) Public Health Certified copies of birth or death certificates Number of immunizations Cases of communicable diseases investigated Culture and Recreation Library District Number of items circulated Number of library cards issued Number of print, media and electronic items Education Superintendent of Schools School districts in Maricopa County Home Schooled students Private School students (1) (2) (3) 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 1,549,513 1,559,141 1,591,420 1,596,594 1,612,651 1,612,651 1,624,226 1,656,558 1,682,201 1,704,497 1,973,543 1,390,836 1,972,381 877,187 2,030,837 877,187 2,161,716 1,608,875 2,200,428 1,608,875 2,254,596 1,454,103 1,866,897 484,012 2,595,272 2,089,563 2,656,320 308,268 2,435,397 1,562,758 28,704 365,718 27,337,265 27,568 407,905 27,043,194 29,031 443,009 27,898,054 29,243 422,260 31,616,238 28,975 380,325 27,776,936 28,525 417,514 28,337,211 27,879 491,400 24,179,399 23,694 217,021 23,162,722 24,315 248,048 24,489,543 26,852 316,800 20,857,030 33,889 9,751 31,179 24,533 29,918 15,078 28,778 15,116 35,906 21,740 36,981 22,827 37,979 22,223 26,157 15,417 25,571 13,743 36,736 8,903 0 0 165 0 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 697 23 19 82 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 105 6 0 3,632 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 142 119 53 125 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 262,024 311,187 263,639 268,025 286,792 285,201 250,412 211,967 223,318 264,831 3,480 606 2,613 94 3,059 130 2,900 137 3,650 119 2,964 105 2,650 104 2,740 71 2,870 76 2,711 106 1,015,772 567,259 1,023,146 574,748 1,031,053 582,513 1,039,074 590,049 1,045,266 594,800 1,052,788 600,574 1,052,438 602,534 1,057,472 607,758 1,057,472 607,758 1,057,472 607,758 6,711 6,186 5,235 5,223 5,195 4,887 4,335 2,415 2,394 3,016 14 15 18 19 22 24 28 29 31 31 196,067 185,887 182,632 184,793 181,338 183,742 167,054 155,607 152,375 162,019 257,152 127,417 288,837 122,321 330,800 113,016 336,744 125,543 341,530 111,634 331,327 118,032 328,562 157,780 385,196 123,129 401,790 140,718 383,123 158,651 11,512 10,730 8,425 7,391 6,265 39,218 73,750 730,134 820,877 254,730 8,264,133 43,020 7,396,715 42,354 7,386,698 41,908 7,491,459 40,561 7,685,848 40,744 8,781,727 43,191 5,676,278 32,673 4,161,465 16,657 5,433,693 127,248 5,574,717 147,305 671,036 666,091 686,477 693,332 703,287 717,853 745,409 683,474 674,239 588,657 58 11,595 18,395 58 12,232 19,526 58 14,516 20,122 58 14,582 20,763 58 12,697 15,793 58 14,305 17,669 58 18,413 18,255 58 20,022 18,108 58 21,973 22,072 58 18,948 18,403 November general election data used for two fiscal-year time span (i.e., fiscal-year of election date and fiscal year immediately prior to election). Information unavailable for fiscal year. Data was adjusted during fiscal year 2018 to reflect updated reporting practices and to improve consistency and accuracy. Note: Indicators for Highways and Streets is not available. Source: Various County Agencies 317 Maricopa County Capital Asset Statistics by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 27 29 29 28 27 198 202 203 203 202 2019-20 2020-21 2021-22 2022-23 General Government Facilities Management Number of buildings owned by Facilities Number of buildings maintained by Facilities 29 208 30 30 30 30 210 200 210 216 Public Safety Flood Control District Operating alert stations 354 358 368 394 400 405 409 410 413 412 Justice Courts 26 26 26 26 26 26 26 26 26 26 Juvenile Courts 2 2 2 2 2 2 2 2 2 2 11,149 11,088 11,013 10,006 9,329 9,329 8,476 8,476 9,027 8,998 6 6 6 6 6 5 5 5 6 6 Miles of Road 5,386 5,378 5,411 5,390 5,402 5,269 5,313 5,210 5,203 5,203 Miles of road with paved surfaces 4,467 Sheriff Inmate beds available (incl. portable) Number of jail facilities Highways and Streets Transportation 4,573 4,582 4,581 4,578 4,609 4,509 4,167 4,462 4,460 Number of major bridges 20 20 20 20 20 20 20 20 20 22 Number of total bridges 279 285 287 287 291 291 294 295 294 302 2 2 2 2 2 2 2 2 2 2 Number of public health facilities 20 21 21 21 24 21 21 24 22 17 Number of WIC facilities 15 15 15 14 17 17 16 18 16 14 6 6 6 6 6 6 6 6 6 6 Health, Welfare and Sanitation Animal Care and Control Number of animal shelters Public Health Waste Resources and Recycling Mgmt Number of transfer stations Culture and Recreation Library District Number of facilities owned 3 3 3 3 3 3 3 3 3 3 Facilities operated 14 15 16 16 16 16 15 15 15 12 Regional county parks 9 9 9 9 11 12 12 12 12 12 County managed golf courses 3 3 3 3 3 3 3 3 3 3 119,257 119,257 119,257 119,968 120,039 121,185 121,185 186,109 186,612 186,798 1 1 1 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 Parks and Recreation Total acres managed Conservation areas Stadium District Major league baseball field Source: Various County Agencies. Note: Indicators for Education are not available. 318 www.maricopa.gov