Annual Comprehensive Financial Report Fiscal Year Ended June 30, 2024 Maricopa County, Arizona www.maricopa.gov Board of Supervisors Thomas Galvin District 2 Jack Sellers District 1 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, 2023 to June 30, 2024 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, 2024 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 Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position 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 38 Proprietary Funds Financial Statements Statement of Net Position Statement of Revenues, Expenses, and Changes in Fund Net Position Statement of Cash Flows 39 40 41 Fiduciary Funds Financial Statements Statement of Fiduciary Net Position Statement of Changes in Fiduciary Net Position 42 43 Basic Financial Statements – Notes 47 Required Supplementary Information Budgetary Comparison Schedules – General Fund and Major Special Revenue Funds General Fund Coronavirus Fiscal Recovery Fund Detention Operations Fund Opioid Abatement Fund Notes to Budgetary Comparison Schedules 103 106 107 108 109 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 i Table of Contents (Continued) For the Fiscal Year Ended June 30, 2024 Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) – CostSharing Plans Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios – Agent Plans Page 118 120 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 138 159 181 267 269 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 287 288 290 292 Fiduciary Funds Listing of Fiduciary Funds Combining Statement of Fiduciary Net Position, Custodial Funds Combining Statement of Changes in Fiduciary Net Position, Custodial Funds 297 298 299 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 303 304 305 307 308 310 311 312 313 314 315 316 317 318 319 320 321 322 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 ♦♦♦ CHIEF FINANCIAL OFFICER Michael McGee iii Organizational Chart iv 301 W. Jefferson St. Phoenix, Arizona 85003 P: 602-506-3561 F: 602-506-4451 Maricopa.gov December 19, 2024 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, 2024. 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, 2024, 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, 2024. 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. 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. 1 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, 2023, Maricopa County contained 62.0 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, Amazon.com Inc., Walmart Inc., Arizona State University, 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 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), and Arizona Diamondbacks of the Major League Baseball (MLB). Maricopa County also hosts several major league baseball teams for the annual Cactus 2 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. The outlook for Arizona is positive, and Arizona will continue to outpace the national economy, although demographic trends point to slower gains in both the short and long run (www.azeconomy.org). Maricopa County’s unemployment rate is 3.4 percent as of September 2024, which remains below the State of Arizona and the United States unemployment rates of 3.9 percent (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 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. 3 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, 2023. 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, 2024, 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, 2024, 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, 2024: 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 2.29% 0.25% 1.37% Liabilities and deferred inflows  0.04% 2.33% 1.01%      Revenues Expenses/ expenditures 0.23% 1.45% 5.83% 0.69% 1.34% 7.22% 10.45% 89.55% 59.36% 40.64% 6.93% 93.07% 8.10% 91.90% 0.05% 0.31% 1.72% 0.30% 17.18% 7.41% 0.04% 0.28% 1.13% 0.07% 0.21% 1.14% 9 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, 2024, the County adopted new accounting guidance, Governmental Accounting Standards Board Statement No. 100, Accounting Changes and Error Corrections. 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. 10 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 U.S. 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 U.S. 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 liability 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 page 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 County OPEB contributions on page 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 11 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 19, 2024 12 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 $5,641.3 million (net position), an increase of 13.9 percent from the prior year restated amount. Of this amount, $4,291.0 million is invested in capital assets, $829.5 million is subject to external restrictions, and $520.8 million is unrestricted. The County’s total net position as reported in the Statement of Activities increased by $687.0 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) Unrestricted Intergovernmental $1,170.8 (33.0%) Other - $211.5 (5.9%) Capital Grants & Contributions $80.1 (2.3%) Operating Grants & Contributions $583.2 (16.5%) Taxes - $1,077.7 (30.4%) Charges for Services - $421.5 (11.9%) • The County’s governmental funds reported combined fund balances of $2,379.9 million, a decrease in fund balance of $57.9 million from the prior fiscal year’s balance. Approximately 99.4 percent of the combined fund balances, or $2,366.6 million, is spendable and available to meet the County’s current and future needs. • Spendable fund balance for the General Fund decreased by 7.6 percent to $407.3 million; approximately 26.1 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 six 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, Opioid Abatement 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 32-38 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 287 of this report. The proprietary funds financial statements can be found on pages 39-41 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 42-43 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, Detention Operations Fund, and Opioid Abatement 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 101-128 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, 2024, as compared to the prior year. Statement of Net Position As of June 30 (in millions) Governmental Activities 2024 2023 Current and other assets Capital assets Total assets $ 3,534.0 4,532.8 8,066.8 $ % Chg P/Y 3,623.0 4,177.9 7,800.9 (2.5)% 8.5 3.4 Deferred outflows 541.7 614.3 (11.8) Current liabilities Long-term liabilities Total liabilities 821.9 2,031.7 2,853.6 907.7 2,467.2 3,374.9 (9.5) (17.7) (15.4) 113.6 86.0 32.1 4,291.0 829.5 520.8 5,641.3 4,014.9 921.7 17.7 4,954.3 6.9 (10.0) 2,842.4 13.9 Deferred inflows Net position Net investment in capital assets Restricted Unrestricted Total net position $ $ By far, the largest portion - $4.3 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, development 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 $276.1 million due to an increase in net capital assets of $354.9 and an increase in capital asset related debt of $78.9 million. The increase in capital assets is attributed to an increase in depreciable and non-depreciable capital assets (net of accumulated depreciation/amortization) of $278.8 and $76.7 million, respectively. 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, $829.5 million, represents resources that are subject to external restrictions on how they may be used. This component decreased by $92.1 million from the prior year. During fiscal year 2024, the County made a $190.0 million payment to the Public Safety Retirement System by using the remaining proceeds from the Pledged Revenue Obligations, Series 2022. In addition, the County recognized $77.3 million in opioid related settlement revenues. 16 Management’s Discussion and Analysis (Continued) The final component consists of an unrestricted surplus of $520.8 million, which increased from fiscal year 2023 by $503.1 million. The increase in unrestricted net position is primarily the result of an increase in the General Fund County Improvement Fund’s committed fund balance of $372.8 million and the net effect of pension and OPEB entries. Changes in Net Position As discussed previously, the County’s total net position of $5.6 billion increased by $687.0 million as reported in the Statement of Activities. The following table reflects the condensed Statement of Activities of the County for the fiscal year 2024 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) Revenues: Program revenues: Charges for services Operating grants and contributions Capital grants and contributions $ 421.5 583.2 80.1 $ % Chg P/Y 333.7 585.1 25.7 26.3% (0.3) 211.7 General revenues: Taxes Unrestricted intergovernmental Other Total Revenues 1,077.7 1,170.8 211.5 3,544.8 1,055.0 1,131.1 93.2 3,223.8 2.2 3.5 126.9 10.0 Expenses: General government Public safety Highways and streets Health, welfare, and sanitation Other* Total Expenses 360.1 1,423.3 130.2 858.0 86.2 2,857.8 335.5 1,377.0 186.6 879.0 99.2 2,877.3 7.3 3.4 (30.2) (2.4) (13.1) (0.7) Change in net position Net position – beginning 687.0 4,954.3 346.5 4,607.8 98.3 7.5 4,954.3 13.9 Net position – ending * Governmental Activities 2024 2023 $ 5,641.3 $ 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 $356.9 million. In the government-wide Statement of Activities, the significant revenues reported included unrestricted intergovernmental, taxes, and operating grants and contributions, which represent 33.0, 30.4, and 16.5 percent, respectively, of total revenues for fiscal year 2024. 17 Management’s Discussion and Analysis (Continued) Tax revenues in total increased $22.7 million primarily as a result of an increase in property taxes and jail excise tax of $13.2 and $8.9 million, respectively. The increase in property taxes can be attributed to increases in the assessed values of property from the prior fiscal year. Intergovernmental revenue, which consists of state shared sales tax, vehicle license taxes and unrestricted grants, increased $39.7 million from the prior fiscal year. This increase is primarily attributable to increases in the state shared sales tax and vehicle license taxes of $32.4 and $6.9 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 $54.4 million from the prior year as capital contributions attributed to highways and streets and public safety increased by $54.6 million, offset by the decrease in culture and recreation of $0.2 million. Operating grants and contributions decreased by $1.9 million from the prior fiscal year as the result of the decrease of health, welfare and sanitation revenues of $31.2 million and education revenues of $3.1 million, offset by the increase in revenues in other governmental activities of $32.4 million. Other revenues increased by $118.3 million as a result of increase in unrestricted investment earnings of $90.2 million and miscellaneous revenues of $28.1 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 decreased by $19.5 million or 0.7 percent from the prior fiscal year, which is attributed to decreases in highways and streets, health welfare and sanitation, and other expenses of $56.4, $21.0, and $13.0 million, respectively, offset by increases in public safety and general government of $46.3 and $24.6 million, respectively. Expenditures in the Pension Reserve Fund and Human Services Grants Fund decreased by $70.0 and $45.5 million, respectively, from the prior fiscal year. In addition, expenditures in the General Fund increased by $122.6 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, 2024, the governmental funds reported combined fund balances of $2,379.9 million, which was a decrease in fund balance of $57.9 million from the prior fiscal year. Approximately 99.4 percent of the combined fund balances, or $2,366.6 million, 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 $407.3 million, while total fund balance was $413.0 million. This represents a decrease in the spendable fund balance from the prior year of $33.7 million, or 7.6 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 26.1 percent of the total fiscal year 2024 General Fund expenditures, while total fund balance represents 26.5 percent of that same amount. These ratios indicate a strong fund balance position in comparison to expenditures. In 18 Management’s Discussion and Analysis (Continued) addition, Maricopa County operates on a structurally balanced budget as fiscal year 2025 operating expenditures are expected to be fully funded by fiscal year 2025 revenues. During fiscal year 2024, the General Fund reported a decrease in fund balance of $33.4 million, an increase of $231.2 million from the prior fiscal year negative change in fund balance of $264.7 million. Revenues increased by $128.4 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, miscellaneous, property tax, state shared VLT, intergovernmental charges for services, judicial charges for services, and miscellaneous sale of assets of $44.5, $32.3, $29.0, $8.0, $6.9, $5.3, $1.5 and $0.9 million, respectively, with decreases in other charges for services of $1.4 million. Transfers out decreased by $235.4 million, and total expenditures increased by $122.6 million. The decrease in transfers out is primarily a result of decreases in transfers to the Pledged Revenue Fund (debt service fund) of $312.7 million offset by increase in transfers out to General Fund County Improvements Fund, Detention Fund, and County Improvement Debt Fund of $52.1, $13.0, and $7.8 million, respectively. The increase in expenditures is primarily attributable to the Qasimyar vs. Maricopa County class action property tax-related lawsuit which was settled in February 2024. See Note 14 – Claims and Judgments for additional information. In addition, personnel costs increased $51.5 million. Coronavirus Fiscal Recovery Fund The Coronavirus Fiscal Recovery Fund is a special revenue fund that 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, restricted fund balance was $18.2 million. In addition, the unearned revenue amount of $307.1 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 $101.1 million, of which 95.7 percent is restricted and considered spendable. This was an increase in total fund balance of $18.0 million, or 21.6 percent from the prior fiscal year. This is primarily attributable to positive net transfers of $185.8, offset by expenditures greater than revenues of $171.0 million. Operating transfers consisted primarily of the transfer in for MOE from the General Fund of $214.6 million and transfers out to the Detention Capital Projects Fund of $31.6 million. The amounts transferred out of the Detention Operations Fund for any given year are determined through the budget planning process. Opioid Abatement Fund The Opioid Abatement fund is a special revenue fund that was established in fiscal year 2022 and accounts for monies received as part of the One Arizona Memorandum of Understanding (MOU) Settlement 19 Management’s Discussion and Analysis (Continued) Agreement. The fund was reported as a nonmajor fund in fiscal year 2023. The monies shall be used for opioid abatement strategies which include treatment, recovery, and prevention. At the end of the current fiscal year, fund balance of the Opioid Abatement Fund was $27.2 million, an increase of $16.8 million from prior year. The increase was the result of settlement revenues exceeding expenditures for the fiscal year. 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 $168.0 million, an increase of $92.8 million from prior year. The increase was primarily the result of the issuance of the Certificates of Participation, Series 2024 of $190.5 million offset by capital outlay expenditures and transfers out of $91.6 and $8.3 million, respectively. 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 $1,125.8 million, all of which is committed and considered spendable. The fund balance in this fund increased $372.8 million from the prior fiscal year as a result of the net transfers of $381.2 million, offset by capital outlay expenditures of $8.4 million. Fiscal year 2024 transfers primarily consisted of transfers in from the General Fund and Technology Capital Improvement Fund of $374.2 and $12.1 million, respectively, which were offset by transfers out to the General Fund of $10.3 million. 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 $68.2 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, 2024, was $4.5 billion (net of accumulated depreciation/amortization). Capital assets include land, buildings and improvements, infrastructure, machinery and equipment, construction in progress, development 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, 2024, Flood Control District infrastructurerelated assets consisted of infrastructure (net of accumulated depreciation), construction in progress, and land of $468.6, $309.6, and $234.6 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 20 Management’s Discussion and Analysis (Continued) using an asset management system and will document that the infrastructure assets are being preserved at the established condition level. During fiscal year 2024, the condition level of both systems remained the same as the prior year. Actual maintenance/preservation costs varied by $2.2 million and $4.4 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, 2024, Transportation Department infrastructure-related assets consisted of infrastructure, land, and construction in progress of $817.8, $480.3, and $289.2 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 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 2024 2023 $872.8 $829.9 817.8 808.6 738.7 512.8 0.5 % Chg P/Y 5.2% 1.1 44.1 100.0 1,516.8 1,492.8 1.6 110.2 105.6 4.4 294.2 284.5 3.4 181.9 $4,532.9 143.5 $4,177.7 26.8 8.5 Capital assets, net of accumulated depreciation, increased by $355.2 million, or 8.5 percent, from the prior year. The most significant impacts on this increase in the fiscal year ended June 30, 2024, were increases in non-depreciable construction in progress, land, intangibles (net of accumulated amortization), buildings and improvements (net of accumulated depreciation), and infrastructure (net of accumulated depreciation) of $225.9, $42.9, $38.4, $24.0, and $9.7 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, 2024, the County had total long-term liabilities (noncurrent liabilities due within one year and more than one year) outstanding of $2,031.7 million, which represents a $435.5 million decrease from the prior year balance of $2,467.2 million. The majority of the decrease is attributable to governmental activities and is comprised of net increases in certificates of participation, subscription based information technology arrangements, and leases payable of $96.4, $40.2, and $4.7 million respectively, which were 21 Management’s Discussion and Analysis (Continued) offset by net decreases in net pension and other post-employment benefits liability, pledged revenue obligations, financed purchase agreements, and reported and incurred but not reported claims payable of $310.2, $251.8, $5.9 and $7.0 million, respectively. The largest components of long-term liabilities at June 30, 2024, consisted of net pension and other postemployment benefits liability of $1,568.7 million, certificates of participation of $190.5 million, subscription based information technology arrangements of $99.8 million, and reported and incurred but not reported claims of $83.4 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, 2024, the fund balance in the County Improvement Debt Fund to pay future liabilities was $18.6 million. Reported and incurred but not reported claims applicable to governmental activities of $83.4 million are reported in the Risk Management and Employee Benefits Trust funds (internal service funds). This is a decrease of $7.0 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 15 – Long-Term Liabilities and Note 18 – Risk Management). Net pension and other postemployment benefits (OPEB) liabilities applicable to governmental activities of $1.6 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 has normalized somewhat during the first half of 2024 and continues with solid but slowing growth. Job hiring rates have returned to pre-pandemic levels and real income growth has accelerated. Inflation has moderated and remains below the national rate. (www.azeconomy.org). • The unemployment rate in Maricopa County is 3.4 percent as of September 2024, which remains below the State of Arizona and United States unemployment rate of 3.9 percent. (https://fred.stlouisfed.org). • The Arizona Office of Economic Opportunity reports that Maricopa County’s population increased by 1.7 percent from fiscal year 2022 to 2023. Maricopa County’s population increased 18.3 percent from 2014 to 2023, which is higher than the United States’ overall population increase of 5.2 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 Office of Budget and Finance 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 2025 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 2025, the adopted tax rate decreased from $1.2044 to $1.1591. 22 Management’s Discussion and Analysis (Continued) • The fiscal year 2025 tax levy increased by $17.0 million from fiscal year 2024, as a result of a $3.6 billion increase in net assessed values. Yearly assessed property valuation growth rates are anticipated to increase by approximately 3.9 percent from fiscal year 2026 through 2029. • Fiscal year 2025 annual collections of State Shared Sales Tax, Vehicle License Tax, Highway User Revenues and County Jail Excise Tax revenues are expected to increase by 2.0, 3.0, 2.1 and 1.5 percent, respectively, from the prior year. 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 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. Opioid Abatement Fund – accounts for monies received as part of the One Arizona Memorandum of Understanding Settlement Agreement. The monies received shall be used for opioid abatement strategies which include treatment, recovery, and prevention. Capital Projects Funds County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2018A, Certificates of Participation, Series 2024, 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 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. 27 28 Maricopa County Statement of Net Position June 30, 2024 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 Leasehold improvements Infrastructure – not being depreciated Infrastructure – being depreciated Construction in progress Development in progress Intangibles – being amortized Accumulated depreciation/amortization Total assets $ 64,004,280 2,820,106,184 $ 230,765,284 317,107,564 15,825,413 16,163,751 2,181,029 14,052,101 $ 45,987 508,145 1,502,274 6,525,453 872,777,509 2,359,392,711 430,744,458 LIABILITIES Accounts payable Employee compensation payable Claims and judgments payable Accrued liabilities Interest payable Unearned revenue Deposits held for other parties Contract retention payable 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 related to leases and PPP Total deferred inflows of resources $ Total net position The notes to the financial statements are an integral part of this statement. 29 17,396,455 2,493,268 516,368 1,056,163 39,292 2,395 2,657,500 17,323,392 50,560,580 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 Other Post Employment Benefits Unrestricted COMPONENT UNITS Housing Industrial Development Authority Authority 6,718,485 153,973,946 6,613,946 833,909 1,654 817,771,242 468,577,778 738,676,151 468,300 252,543,543 (1,408,143,095) 8,066,846,074 (58,941,939) 158,980,242 541,695,804 541,695,804 427,736 427,736 177,660,534 173,101,562 56,558,589 10,013,472 2,140,314 373,262,474 17,840,278 11,394,701 4,966,964 57,349 6,700,927 547,036 404,370 343,233 354,131 1,859 148,907,191 1,882,754,010 2,853,633,125 19,044,990 44,452,190 70,170,263 101,909,153 11,734,795 113,643,948 472,694 472,694 4,290,972,163 77,719,982 8,634,293 383,517,690 109,840,670 235,013,847 38,014,051 3,928,396 50,560,580 520,783,115 5,641,264,805 26,091,772 23,106,932 6,702,786 1,654 2,657,500 5,702,467 $ 5,342,572 88,765,021 $ 13,744,992 16,404,146 Maricopa County Statement of Activities For the Fiscal Year Ended June 30, 2024 Program Revenues Charges for Services Expenses Operating Capital Grants and Contributions Grants and Contributions Functions/Programs Primary government: Governmental activities: General government $ Public safety 360,086,682 $ 59,437,630 $ 45,160,254 $ 1,423,307,636 155,518,757 70,427,243 12,426,576 Highways and streets 130,166,899 26,183,445 137,740,394 67,708,582 Health, welfare and sanitation 858,019,574 159,860,075 310,591,945 Culture and recreation 72,405,714 19,322,504 3,975,245 9,327,080 4,408,813 2,857,722,398 1,215,000 15,272,828 421,537,411 583,167,909 Education Interest on long-term debt Total governmental activities Component units: Housing Authority $ 41,163,781 $ 8,997,844 Industrial Development Authority $ 3,634,138 $ 1,399,132 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, 2023 Net position, June 30, 2024 The notes to the financial statements are an integral part of this statement. 30 $ 25,595,791 80,135,158 Maricopa County Statement of Activities (Continued) For the Fiscal Year Ended June 30, 2024 Net (Expense) Revenue and Changes in Net Position Primary Government Component Units Governmental Activities Housing Authority Industrial Development Authority Functions/Programs Primary government: Governmental activities: $ (255,488,798) General government (1,184,935,060) Public safety 101,465,522 Highways and streets (387,567,554) Health, welfare and sanitation (49,107,965) Culture and recreation 7,160,748 (4,408,813) Education Interest on long-term debt (1,772,881,920) Total governmental activities Component units: $ (6,570,146) Housing Authority $ (2,235,006) Industrial Development Authority General revenues: Taxes: 681,741,975 Property taxes, levied for general purposes 77,055,073 Property taxes, levied for Flood Control District 26,893,877 Property taxes, levied for Library District 5,350,756 Property taxes, levied for Street Lighting District 279,052,570 Sales tax – Jail construction and operation 7,544,934 Surcharge tax – Stadium District 952,466,018 Unrestricted share of state sales tax 214,066,487 Unrestricted share of state vehicle license tax 4,150,595 Grants and contributions not restricted to specific programs 138,444,500 389,074 1,280,381 Unrestricted investment earnings 73,120,618 1,073,827 7,818 2,459,887,403 1,462,901 1,288,199 687,005,483 4,954,259,322 (5,107,245) 93,872,266 (946,807) 17,350,953 Net position, July 1, 2023 88,765,021 $ 16,404,146 Net position, June 30, 2024 Gain on sale of assets $ 5,641,264,805 $ 31 Miscellaneous Total general revenues Change in net position Maricopa County Balance Sheet Governmental Funds June 30, 2024 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 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Unearned revenue Deposits held for other parties Contract retention payable Total liabilities $ $ 1,495,259 73,445,177 968,200 Opioid Abatement $ $ 569,018,031 $ 362,196,078 $ 129,656,690 $ 184,271,810 $ 42,497,899 53,052,144 48,851,234 961,798 $ 35,828,758 203,326 $ 7,729,082 19,566,455 $ 550,821 1,619 $ 27,633,309 156,638,501 49,008,215 4,308,363 431,476 8,807 1,288,144 307,054,953 20,961 153,306 145,537,342 894,317 343,990,161 28,583,681 552,440 10,441,421 165 156,475,872 10,441,421 FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances and fund balances 3,134 360,064,580 2,128,364 Detention Operations 54,128,078 284,979,864 29,991,200 16,284,149 176,188,720 5,739,628 1,706,392 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 Total liabilities, deferred inflows of resources, Coronavirus Fiscal Recovery 165 156,475,872 18,205,917 4,308,363 96,764,481 27,243,498 18,205,917 101,072,844 27,243,498 5,739,628 407,299,640 413,039,268 $ 569,018,031 The notes to the financial statements are an integral part of this statement. 32 $ 362,196,078 $ 129,656,690 $ 184,271,810 Maricopa County Balance Sheet Governmental Funds (Continued) June 30, 2024 General Fund County Improvements County Improvement 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 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Unearned revenue Deposits held for other parties Contract retention payable Total liabilities $ 188,983,537 1,124,959 $ Other Governmental Funds $ 1,127,473,126 Total liabilities, deferred inflows of resources, and fund balances $ 58,337,939 2,695,460,109 222,297,521 16,284,149 317,107,564 13,312,369 3,807,345 17,323,392 91,910,629 3,264,378 1,669,477 17,323,392 $ 190,108,496 $ 1,127,473,126 $ 781,206,157 $ 3,343,930,388 $ 19,311,690 $ 1,581,178 $ 63,774,500 6,140,845 7,707,355 2,334 15,758,926 422,500 16,900,000 66,207,521 17,819,317 7,481,846 202,215,144 $ 171,273,928 78,964,389 56,558,589 2,261,083 15,758,926 422,500 16,900,000 373,262,474 17,840,278 11,394,701 744,636,868 2,797,889 22,109,579 67,343 1,648,521 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 FUND BALANCES Nonspendable Restricted Committed Assigned Unassigned Total fund balances 2,711,468 632,880,516 31,446,297 Total Governmental Funds 1,301,754 33,960,365 5,491,626 2,202,424 9,532,371 52,488,540 11,743,175 33,960,530 161,967,498 2,202,424 9,532,371 219,405,998 3,264,378 413,678,017 143,291,657 $ 167,998,917 $ 1,125,824,605 $ (33,731,579) 526,502,473 $ 13,312,369 723,136,113 1,269,870,979 407,299,640 (33,731,579) 2,379,887,522 $ 190,108,496 $ 1,127,473,126 $ 781,206,157 $ 3,343,930,388 167,244,200 754,717 The notes to the financial statements are an integral part of this statement. 33 1,125,824,605 Maricopa County Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position June 30, 2024 Fund balance – total governmental funds (page 33) $ 2,379,887,522 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. 4,513,082,313 Some receivables are not available to pay for current period expenditures and therefore, are deferred in the funds. 207,671,203 OPEB assets are not available for County operations and therefore, not reported in the funds. 50,053,641 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. 57,229,942 Long-term liabilities (e.g., net pension/OPEB liabilities and bonds payable) are not due and payable shortly after June 30, 2024, and therefore, are not reported in the funds. (2,004,800,528) Deferred outflows and inflows of resources related to pensions and OPEB are applicable to future reporting periods and therefore, are not reported in the funds. 438,140,712 Net position of governmental activities (page 29) $ 34 5,641,264,805 35 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended June 30, 2024 General Coronavirus Fiscal Recovery 667,115,716 $ Detention Operations Opioid Abatement REVENUES Taxes $ Licenses and permits $ 279,052,570 $ 1,787,918 Intergovernmental 1,183,476,898 Charges for services 63,410,762 194,783,997 24,634,653 3,200 11,464,169 8,851 Settlement revenue 20,658,434 Fines and forfeits Special assessments Interest income 64,632,846 65,359,122 26,224,990 6,199,029 70,205 398,342 2,057,247,431 221,008,987 309,968,508 21,056,776 General government 229,194,083 25,326,235 Public safety 807,269,467 10,334,196 388,598,566 86,477,118 Miscellaneous Total revenues EXPENDITURES Current: Highways and streets 50,931 Health, welfare and sanitation 396,520,194 125,202,210 Culture and recreation 1,231,058 499,233 Education 2,939,764 4,220,820 337,481 Debt service: Principal 27,080,061 312,044 535,397 Interest 2,709,747 32,142 46,376 Other Capital outlay Total expenditures 91,620,416 34,127,237 4,983,606 1,558,615,721 195,833,297 480,978,544 4,220,820 498,631,710 25,175,690 (171,010,036) 16,835,956 (2,300,000) (33,318,260) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 44,886,635 Transfers out (647,095,178) Financed purchase agreements 219,089,282 4,405,165 1,489,645 Certificates of participation issuance Lease agreements 13,454,768 52,031,434 1,049,310 Subscription-based IT arrangements (SBITA) Total other financing sources (uses) (532,317,176) (1,250,690) 187,260,667 Net change in fund balances (33,685,466) 23,925,000 16,250,631 Fund balances, July 1, 2023 as previously reported 446,455,895 (5,719,083) 83,094,785 446,455,895 268,839 413,039,268 (5,719,083) 83,094,785 1,727,428 101,072,844 16,835,956 Change within financial reporting entity 10,407,542 Fund balances, July 1, 2023 as restated Increase (decrease) in inventories Fund balances, June 30, 2024 $ The notes to the financial statements are an integral part of this statement. 36 $ 18,205,917 $ 10,407,542 $ 27,243,498 Maricopa County Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds (Continued) Year Ended June 30, 2024 County Improvement General Fund Other Total County Improvements Governmental Funds Governmental Funds REVENUES Taxes $ $ $ Licenses and permits 110,826,473 $ 1,056,994,759 56,124,229 57,912,147 426,396,906 1,805,890,177 Charges for services 114,910,915 202,956,330 Settlement revenue 13,126,858 33,785,292 Fines and forfeits 7,294,274 18,767,294 Special assessments 5,350,756 5,350,756 1,980,635 47,418,292 11,444,086 146,854,134 76,873,413 3,209,811 792,892,789 3,405,384,302 Intergovernmental Interest income 1,229,176 Miscellaneous Total revenues EXPENDITURES Current: General government 563,169 Public safety 8,462,988 263,546,475 350,907,907 1,557,110,136 Highways and streets 91,843,857 91,894,788 Health, welfare and sanitation 245,973,284 858,393,626 Culture and recreation 58,930,165 60,660,456 Education 12,615,336 15,892,581 Principal 353,659,835 381,587,337 Interest 4,617,876 7,406,141 Debt service: Other Capital outlay Total expenditures 448,350 91,560,231 8,378,019 270,130,376 448,350 500,799,885 92,571,750 8,378,019 1,397,141,624 3,737,739,775 (89,361,939) (8,378,019) (604,248,835) (332,355,473) Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out (8,316,057) 391,481,389 205,766,976 861,224,282 (10,296,061) (159,902,226) (861,227,782) Financed purchase agreements Certificates of participation issuance 5,894,810 190,450,000 190,450,000 Lease agreements Subscription-based IT arrangements (SBITA) 12,456,240 14,504,078 64,487,674 58,320,990 275,333,062 182,133,943 381,185,328 Net change in fund balances 92,772,004 372,807,309 (545,927,845) (57,022,411) Fund balances, July 1, 2023 as previously reported 75,226,913 753,017,296 1,085,707,331 (10,407,542) 2,437,783,137 75,226,913 753,017,296 1,075,299,789 (2,869,471) 526,502,473 2,437,783,137 (873,204) 2,379,887,522 Total other financing sources (uses) Change within financial reporting entity Fund balances, July 1, 2023 as restated Increase (decrease) in inventories $ 1,125,824,605 $ 167,998,917 Fund balances, June 30, 2024 The notes to the financial statements are an integral part of this statement. 37 $ $ 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, 2024 Net change in fund balances – total governmental funds (page 37) $ (57,022,411) Amounts reported for governmental activities in the Statement of Activities on page 31 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. 356,910,538 The net effect of various miscellaneous transactions involving capital assets is an increase to net position. 9,030,965 Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. 70,638,643 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. 108,272,969 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. (3,449,136) 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. 4,680,579 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. 197,943,336 Change in net position of governmental activities (page 31) The notes to the financial statements are an integral part of this statement. 38 $ 687,005,483 Maricopa County Statement of Net Position Proprietary Funds June 30, 2024 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 $ 5,666,341 124,646,075 7,815,000 652,763 2,513,044 14,537,435 155,830,658 Noncurrent assets: Capital assets: Buildings and improvements Land Machinery and equipment Intangibles Accumulated depreciation/amortization Other postemployment benefits (OPEB) Total noncurrent assets 16,280,574 92 61,692,772 4,986,847 (63,234,001) 506,939 20,233,223 Total assets 176,063,881 DEFERRED OUTFLOWS OF RESOURCES 2,704,359 2,704,359 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 6,386,606 2,651,578 7,752,389 525,223 251,141 36,304,374 53,871,311 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims 47,100,696 Leases payable 2,141,283 17,366,588 66,608,567 Net pension liability Total noncurrent liabilities 120,479,878 Total liabilities DEFERRED INFLOWS OF RESOURCES Deferred inflows related to pensions and OPEB 1,058,420 Total deferred inflows of resources 1,058,420 NET POSITION Net investment in capital assets Restricted for OPEB Unrestricted 17,333,860 506,939 39,389,143 $ Total net position The notes to the financial statements are an integral part of this statement. 39 57,229,942 Maricopa County Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds Year Ended June 30, 2024 Governmental Activities – Internal Service Funds OPERATING REVENUES Charges for services $ Miscellaneous 323,489,168 612,308 324,101,476 Total operating revenues OPERATING EXPENSES Personal services 23,163,840 15,992,108 Supplies 222,572,528 Other services 2,841,847 Legal 34,766,611 Insurance and claims 77,315 Leases and rentals 2,853,660 Repairs and maintenance 197,843 Travel and transportation 10,669,920 Utilities 11,440,887 Depreciation/Amortization 324,576,559 Total operating expenses (475,083) Operating loss NONOPERATING REVENUES (EXPENSES) Investment income 5,935,476 Interest expense Total nonoperating revenues (expenses) (70,938) (712,376) 5,152,162 Income before contributions and transfers 4,677,079 Gain (loss) on disposal of assets Capital contributions 522,632 3,500 Transfers in Change in net position 5,203,211 Total net position, July 1, 2023 52,026,731 Total net position, June 30, 2024 $ The notes to the financial statements are an integral part of this statement. 40 57,229,942 Maricopa County Statement of Cash Flows Proprietary Funds Year Ended June 30, 2024 Governmental Activities Internal Service Funds CASH FLOWS FROM OPERATING ACTIVITIES Receipts from other funds Receipts from customers Other receipts Payments for goods and services $ 297,473,891 24,795,807 612,308 (298,057,515) Payments for personal services and benefits (20,358,795) Net cash provided by operating activities 4,465,696 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Loan repaid from General Fund Interest payments 209,906 (71) Net cash provided by noncapital financing activities 209,835 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets Proceeds from disposal of assets Principal paid on leases Interest paid on leases Cash transfers from other funds (2,974,497) 21,043 (2,280,169) (96,651) 3,500 (5,326,774) Net cash used for capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends 5,811,030 5,811,030 Net cash provided by investing activities Net increase in cash and cash equivalents Cash and cash equivalents, July 1, 2023 Cash and cash equivalents, June 30, 2024 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES Operating loss Adjustments to reconcile operating income to net cash provided by (used for) operating activities: Depreciation/Amortization expense Liability for reported but unpaid and incurred but not reported claims - current 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 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. 41 $ 5,159,787 125,152,629 130,312,416 $ (475,083) 11,440,887 829,463 (7,862,415) $ $ (1,219,470) (267,891) (3,891,938) (275,836) (705,426) 302,776 2,758,839 3,812,524 19,266 4,465,696 (3,633,481) 3,630,172 3,309 (1,682,182) 952,072 730,110 15,428,370 (14,905,738) (522,632) Maricopa County Statement of Fiduciary Net Position Fiduciary Funds June 30, 2024 Custodial External Private-Purpose Trust Fund Investment Pool Other Assets Cash and investments in bank and on hand Cash and investments held by County Treasurer $ 13,060,858 $ $ 5,415,810,794 186,707,412 31,868,601 5,447,679,395 $ 247,094,836 113,083 464,436,942 $ 26,726,984 Property tax receivable for other governments Interest receivable Total assets $ 13,060,858 $ 30,521,611 Liabilities Property tax payable to other governments $ $ 26,726,984 Total liabilities Net Position Restricted for: Pool participants 5,447,679,395 Individuals, organizations, and other governments Total net position 13,060,858 13,060,858 $ The notes to the financial statements are an integral part of this statement. 42 $ 5,447,679,395 $ 437,709,958 437,709,958 Maricopa County Statement of Changes in Fiduciary Net Position Fiduciary Funds Year Ended June 30, 2024 Custodial External Private-Purpose Investment Trust Fund Pool Other Additions: Contributions from pool participants $ $ 11,159,449,357 $ Property tax collections for other governments Fines, fees, and forfeitures collected for other governments 5,634,875,039 119,710,687 Investment earnings: Interest income 141,186,942 77,518,826 Net increase (decrease) in fair value of investments 727,435 218,705,768 Net investment income 727,435 25,178,373 Other 25,178,373 Total additions 26,756,803 11,378,155,125 5,782,069,964 Deductions: Distributions to pool participants 10,604,381,500 Property tax distributions to other governments 5,620,905,451 Fines, fees, and forfeitures distributed to other governments 131,491,229 18,900,560 23,198,399 Other 23,198,399 10,604,381,500 5,771,297,240 Change in net position 1,979,974 773,773,625 10,772,724 Net position, July 1, 2023 11,080,884 4,673,905,770 426,937,234 13,060,858 $ 5,447,679,395 Total deductions Net position, June 30, 2024 $ The notes to the financial statements are an integral part of this statement. 43 $ 437,709,958 44 Financial Section Basic Financial Statements - Notes Maricopa County Basic Financial Statements – Notes NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 2 REPORTING CHANGES NOTE 3 ACCOUNTING CHANGES 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 CLAIMS AND JUDGMENTS NOTE 15 LONG-TERM LIABILITIES NOTE 16 MUNICIPAL LANDFILL CLOSURE AND POSTCLOSURE CARE COSTS NOTE 17 MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT NOTE 18 RISK MANAGEMENT NOTE 19 POLLUTION REMEDIATION OBLIGATIONS NOTE 20 PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS NOTE 21 INTERFUND BALANCES AND ACTIVITY NOTE 22 SUBSEQUENT EVENT NOTE 23 DISCLOSURES FOR DISCRETELY PRESENTED COMPONENT UNITS STATEMENTS 47 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, 2024, the County implemented the provisions of GASB Statement No. 100, Accounting Changes and Error Corrections, which establishes accounting and financial reporting requirements for accounting changes and the correction of an error in previously issued financial statements. As a result, the County’s financial statements and disclosures have been modified, as applicable, to reflect the implementation of this new standard. 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. 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. 48 Notes to the Financial Statements (Continued) 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 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 49 Notes to the Financial Statements (Continued) a discretely presented component unit. The Housing Authority issues separate financial statements, which include seven 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., Heritage at Surprise, L.L.C, and GEM Heritage, 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 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 50 Notes to the Financial Statements (Continued) 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 Opioid Abatement Fund – accounts for the monies received as part of the One Arizona Memorandum of Understanding (MOU) Settlement Agreement. The monies shall be used for opioid abatement strategies which include treatment, recovery and prevention. The County Improvement Fund – accounts for capital projects funded through the issuance of Certificates of Participation, Series 2018A, Certificates of Participation, Series 2024, 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: 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. 51 Notes to the Financial Statements (Continued) The fiduciary funds - consists of a private-purpose trust fund, which accounts 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. 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 52 Notes to the Financial Statements (Continued) 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 (e.g., roads, bridges, sidewalks, and similar items), 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 leases 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. Intangible right-to use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying IT assets. 53 Notes to the Financial Statements (Continued) 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 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. 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 54 Notes to the Financial Statements (Continued) 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, 2024, 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 receivable 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. Public-Private and Public-Public Partnerships As a transferor of public-private and public-public (P3) arrangements, the County contracts with an operator 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 (UMAs). 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. 55 Notes to the Financial Statements (Continued) N. 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 $627 thousand in credit card rebates during calendar year 2023. NOTE 2 – REPORTING CHANGES Beginning in fiscal year 2024, the County established the Recorder Grants Fund (nonmajor special revenue fund) to account for all grant activity administered by the Recorder’s Office. NOTE 3 – ACCOUNTING CHANGES During fiscal year 2024, the Opioid Abatement Fund changed from a nonmajor to a major fund. Governmental Funds General Fund Coronavirus Fiscal Recovery Fund Detention Operations Fund Opioid Abatement Fund County Improvement Fund General Fund County Improvements Fund Nonmajor funds Total Governmental Funds Fund balance June 30, 2023, as previously reported $ Change from nonmajor to major fund 446,455,895 (5,719,083) Fund balance July 1, 2023, as restated $ 83,094,785 83,094,785 10,407,542 75,226,913 10,407,542 75,226,913 753,017,296 $ 1,085,707,331 2,437,783,137 56 446,455,895 (5,719,083) 753,017,296 (10,407,542) $ $ 1,075,299,789 2,437,783,137 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, 2024, were as follows: Fund balances: Nonspendable: Inventory Total nonspendable Coronavirus Fiscal Recovery General Fund $ 5,739,628 5,739,628 $ Restricted for: Capital projects Education Flood control Health and Welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Social services Stadium district Transportation Waste management Total restricted Detention Operations Fund $ 4,308,363 4,308,363 Opioid Abatement Fund $ 18,205,917 27,243,498 96,764,481 18,205,917 96,764,481 27,243,498 Committed to: Capital projects Debt service Education Health and welfare Other purposes Total committed Assigned to: General government Total assigned 407,299,640 407,299,640 Unassigned Total fund balances $ 413,039,268 $ 18,205,917 57 $ 101,072,844 $ 27,243,498 Notes to the Financial Statements (Continued) Fund balances: Nonspendable: Inventory Total nonspendable Restricted for: Capital projects Education Flood control Health and welfare Judicial activities Law enforcement Library district Other purposes Parks and recreation Social services Stadium district Transportation Waste management Total restricted Committed to: Capital projects Debt service Education Health and welfare Other purposes Total committed General Fund County Improvement Fund County Improvement Funds $ $ Other Governmental Funds $ 166,476,483 767,717 167,244,200 754,717 1,125,824,605 754,717 1,125,824,605 3,264,378 3,264,378 Total $ 3,928,396 67,777,973 20,559,274 47,391,771 133,806,009 29,542,950 7,401,916 5,972,124 260,333 2,117,101 89,492,599 5,427,571 413,678,017 166,476,483 3,928,396 67,777,973 66,008,689 47,391,771 231,338,207 29,542,950 7,401,916 5,972,124 260,333 2,117,101 89,492,599 5,427,571 723,136,113 54,419,472 18,626,692 5,173,012 16,724,768 48,347,713 143,291,657 1,180,998,794 18,626,692 5,173,012 16,724,768 48,347,713 1,269,870,979 Assigned to: General government Total assigned 407,299,640 407,299,640 (33,731,579) Unassigned Total fund balances 13,312,369 13,312,369 $ 167,998,917 $ 1,125,824,605 58 $ 526,502,473 (33,731,579) $ 2,379,887,522 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 Development in progress Intangibles Accumulated depreciation/amortization Net governmental funds capital assets at June 30, 2024 2,379,887,522 872,777,417 2,343,112,137 369,051,686 1,286,349,020 738,676,151 468,300 247,556,696 (1,344,909,094) 4,513,082,313 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, 2024 Unavailable revenue for grant revenues receivable at June 30, 2024 Unavailable revenue for settlement revenues receivable at June 30, 2024 Unavailable revenue for other revenues receivable at June 30, 2024 11,743,175 33,960,365 161,967,498 165 207,671,203 OPEB assets are not available for County operations and therefore, are not reported in the funds. 50,053,641 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. 57,229,942 Some long-term liabilities and compensated absences are not due and payable shortly after June 30, 2024, and therefore, are not reported in the funds. Certificates of participation payable at June 30, 2024 Financed purchases payable at June 30, 2024 Governmental funds compensated absences payable at June 30, 2024 Liability for closure and postclosure costs at June 30, 2024 Accrued interest at June 30, 2024 Leases and subscription based IT arrangements liability at June 30, 2024 Net pension and OPEB liability at June 30, 2024 (190,450,000) (23,719,325) (91,485,595) (5,890,078) (1,717,814) (140,173,374) (1,551,364,342) (2,004,800,528) Deferred outflows and inflows of resources related to pensions and OPEB, are applicable to future reporting periods and, therefore, are not reported in the funds. Deferred outflows of resources related to pensions and OPEB at June 30, 2024 Deferred inflows of resources related to pensions and OPEB at June 30, 2024 538,991,445 (100,850,733) 438,140,712 $ Net position of governmental activities 59 5,641,264,805 Notes to the Financial Statements (Continued) The governmental funds 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, 2024 (57,022,411) 492,326,117 (135,415,579) 356,910,538 The net effect of various miscellaneous transactions involving capital assets is an increase to net position. Donations of capital assets Net value of disposed capital assets for the year ended June 30, 2024 37,365,726 (28,334,761) 9,030,965 Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the funds. Collections of grant revenues plus current-year revenues exceeding amount reported as earned during the year ended June 30, 2024 Property taxes revenue earned but not yet received during the year ended June 30, 2024 Settlement revenue earned but not yet received during the year ended June 30, 2024 Other unavailable revenue earned but not yet received during the year ended June 30, 2024 (10,869,358) 2,521,663 63,340,413 15,645,925 70,638,643 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 Principal payments on leases and subscription based IT arrangements Proceeds from COPS Proceeds from financed purchases Proceeds from leases and subscription based IT arrangements Accrued interest payable Amortization of COPs premium Amortization of deferred charges on debt refunding 88,265,000 251,755,000 11,807,957 32,093,012 (190,450,000) (5,894,810) (78,991,752) (1,969,336) 1,608,424 49,474 108,272,969 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 (2,929,839) (873,204) 353,907 (3,449,136) 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. 4,680,579 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 60 397,599,029 (199,655,693) 197,943,336 687,005,483 Notes to the Financial Statements (Continued) NOTE 6 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY At June 30, 2024, 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 Grants County Attorney Grants Emergency Management Human Services Grants Library District Grants Parks and Recreation Grants Public Defender Grants Public Health Grants Recorder Grants School Grants Sheriff Grants Superior Court Grants Transportation Grants Proprietary Funds: Equipment Services Risk Management $ 2,028 617,270 73,050 815,869 2,865,044 17,401,253 25,001 280,604 11,747 7,441,034 188,552 1,913,396 780,955 153,298 17,576 $ 1,588,653 47,577,953 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 Defender Grants, Public Health Grants, Recorder 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, 2024, Equipment Services had deficit net position of $1,588,653. 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, 2024, the total net position deficit was $47,577,953. This is primarily due to the Risk Management Fund not being funded for noncurrent accrued claim liabilities. 61 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 deposits 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, 2024, the carrying amount of the County’s deposits was $232,534,172 and the bank balance was $239,226,498. 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. Investments—The County had total investments of $8,314,844,679 at June 30, 2024. The County categorized certain investments measured at fair value within the fair value hierarchy established by generally accepted accounting principles as follows: 62 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) 838,643,498 $ $ 838,643,498 U.S. agency securities 3,985,053,959 3,985,053,959 Corporate bonds 1,122,926,297 1,077,219,597 School/fire district bonds Significant unobservable inputs (Level 3) $ 45,706,700 6,225,883 Total investments by fair value level 6,225,883 5,952,849,637 Investments measured at the net asset value (NAV) Money market mutual funds Money market mutual funds with trustee Total investments measured at the NAV $ 5,900,917,054 $ 51,932,583 2,305,000,000 17,322,500 2,322,322,500 Investments measured at amortized cost School/fire district bonds 30,185,000 Other investments Total investments measured at amortized cost 9,487,542 Total investments 39,672,542 $ 8,314,844,679 Investments categorized as level 2 are valued using institutional bid evaluations based on Intercontinental Exchange (ICE) Data Services automated pricing models or Bloomberg. Corporate 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 bonds with maturities beyond 90 days categorized as level 3 are valued using information from similar investments. Privately placed school bonds with a maximum maturity of 90 days are measured at amortized cost. The $9,487,542 of other investments consists of Public Fiduciary investments and registered warrants purchased by the County Treasurer, totaling $1,504,270 and $7,983,272, respectively. The Public Fiduciary investments may consist of equities, mutual funds, U.S. Treasury securities, and other types of investments as directed by court order. The warrants purchased by the County Treasurer are for school district warrants that exceed their account balances, tax anticipation notes, and credit lines, as applicable. 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, 2024, 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 Corporate bonds Corporate bonds Corporate bonds Rating Rating Agency Aaa AA+ Unrated P-1 AA+ Aa2 AAA1 A+ A2 Moody’s S&P Not Applicable Moody’s S&P Moody’s S&P Moody’s S&P Moody’s 63 Amount $ 54,797,000 2,954,949,614 115,529,204 859,778,141 15,069,156 9,520,273 45,128,476 198,096,217 103,182,797 58,876,590 Notes to the Financial Statements (Continued) 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 Money market mutual funds Money market mutual funds with trustee A A3 ABBB+ Baa2 Aa2 Aa3 Baa2 Unrated Aaa-mf Aaa-mf S&P Moody’s S&P S&P Moody’s Moody’s Moody’s Moody’s Not Applicable Moody’s Moody’s $ 9,824,206 59,075,858 375,188,678 217,488,086 31,475,960 13,650,000 10,875,494 355,000 11,530,389 2,305,000,000 17,322,500 7,466,713,639 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, 2024, 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, 2024, were in Federal Home Loan Banks (FHLB), Federal Farm Credit Banks (FFCB), and the U.S. Treasury. These investments were 24.3 percent, 16.0 percent, and 10.1 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, 2024, the County had the following investments in debt securities. Investment Type U.S. Treasury securities U.S. agency securities Corporate bonds School/fire district bonds Money market mutual funds Money market mutual funds with trustee Amount $ 838,643,498 3,985,053,959 1,122,926,297 36,410,884 2,305,000,000 17,322,500 $8,305,357,138 Investment Maturities Less than 1–5 1 Year Years $ 257,369,141 $ 581,274,357 1,732,763,715 2,252,290,244 471,288,332 651,637,965 33,477,482 2,933,402 2,305,000,000 17,322,500 $5,141,126,386 $3,164,230,752 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 unless it is denominated in United States dollars. 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 64 $ $ 155,680 232,534,172 8,314,844,679 8,547,534,531 Notes to the Financial Statements (Continued) Governmental Private-Purpose Activities Trust-Fund Custodial Funds External Investment Pool Other Total Statement of Net Position: Cash in bank and on hand $ 64,004,280 $ $ Cash and investments in bank and on hand Cash and investments held by County Treasurer $ 13,060,858 2,820,106,184 5,415,810,794 $ 64,004,280 30,521,611 43,582,469 186,707,412 8,422,624,390 17,323,392 Cash and investments held by trustee $ 2,901,433,856 Total 17,323,392 $ 13,060,858 $ 5,415,810,794 $ 217,229,023 $ 8,547,534,531 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 $23,635,115 of interest earned in certain other funds to be transferred to the General Fund. The County’s deposits and investments are included in the County Treasurer’s investment pool, except for $155,680 of cash on hand, $17,322,500 mutual funds with trustee, and $107,437,598 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 Registered warrants Short term bills and notes US Treasuries Principal 1,178,369,000 3,244,399,000 2,305,000,000 36,375,000 7,983,272 1,428,000,000 295,000,000 Interest Rates 0.45 - 4.86% 0.40 - 5.63% 5.20 - 5.21% 0.79 - 11.35% N/A 0.00 - 4.75% 0.88 - 4.50% Maturities 7/24 - 9/26 7/24 - 4/27 N/A 7/24 - 7/25 N/A 7/24 - 12/24 3/25 - 2/29 Fair Value 1,122,926,297 3,125,275,818 2,305,000,000 36,410,883 7,983,272 1,416,297,859 282,123,780 A condensed statement of the investment pool’s net position and changes in net position follows. Statement of fiduciary net position Assets $ 8,472,437,850 $ 8,472,437,850 $ 3,005,111,160 Liabilities Net position Net position held for: Internal participants External participants 5,467,326,690 Total net position $ 65 8,472,437,850 Notes to the Financial Statements (Continued) Statement of changes in fiduciary net position Total additions $ 21,751,918,489 Total deductions (21,115,774,432) Net increase $ 636,144,057 Net position: July 1, 2023 7,836,293,793 June 30, 2024 $ 8,472,437,850 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 uncollectibles of $2,941,653. All other receivables are considered collectible. Governmental Funds General Fund Receivables: Accounts Receivable Taxes Accrued interest $ 5,403,456 Coronavirus Fiscal Recovery Detention Operations Fund $ $ Opioid Abatement Fund $ County Improvement Fund Other Governmental Funds $ $ 14,211,198 10,376,546 2,128,364 968,200 162,629 1,124,959 Leases Publicprivate/publicpublic partnerships 156,475,872 Settlements Total receivables $29,991,200 $ 2,128,364 $ 968,200 $ 156,638,501 $ 1,124,959 $ Total 9,259,351 $ 14,662,807 1,926,089 16,137,287 2,416,571 17,177,269 2,408,436 2,408,436 9,944,224 5,491,626 9,944,224 161,967,498 31,446,297 $ 222,297,521 The County leases land to third parties under the provisions of various lease agreements. During the fiscal year ended June 30, 2024, the County recognized total lease-related revenues of $328,811 which consist of lease revenue of $236,208 and interest revenue of $92,603. The County contracts with operators to provide public services under various public-private arrangements. See Note 10 – Public-Private Partnerships for additional information. 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 in the Opioid Abatement Fund. The County is expected to receive revenue over the next 18 years. During the fiscal year ended June 30, 2024, the County recorded settlement revenue related to the opioid settlements in the Opioid Abatement Fund of $20,658,434. At June 30, 2024, the County has deferred inflows of $156,475,872 related to the settlements receivable in the Opioid Abatement Fund. 66 Notes to the Financial Statements (Continued) 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, 2024, related to these arrangements was $9,944,224 and $9,532,371, 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, 2024, related to this agreement was $1,021,589 and $989,633, 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, 2024, related to this agreement was $1,623,165 and $1,572,417, 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 fee. Total receivable and deferred inflows at June 30, 2024, related to this agreement was $2,057,850 and $1,877,002, 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, 2024, related to this agreement was $1,894,232 and $1,839,596, 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 fee. Total receivable and deferred inflows at June 30, 2024, related to this agreement was $1,751,718 and $1,759,203, 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 fee. Total receivable and deferred inflows at June 30, 2024, related to this agreement was $1,595,670 and $1,494,520, respectively. 67 Notes to the Financial Statements (Continued) NOTE 11 – DUE FROM OTHER GOVERNMENTAL UNITS Amounts due from other governmental units at June 30, 2024, as reported on the Governmental Funds balance sheet are as follows: Governmental Funds Detention Operations Fund General Fund Due from other governmental units: 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 Total due from other governmental units $ 156,547,967 18,687,466 Other Governmental Funds $ Total $ $ 1,341,590 24,534,783 45,596,509 711,760 $ 2,666,357 63,367,899 124,520 241,527 176,188,720 $ 3,287,186 49,008,215 $ 91,910,629 $ 156,547,967 20,029,056 24,534,783 45,596,509 2,666,357 64,204,179 3,528,713 317,107,564 NOTE 12 – CAPITAL ASSETS Capital asset activity for the year ended June 30, 2024, was as follows: Balance July 1, 2023 Governmental activities: Capital assets not being depreciated/amortized: Land Construction in progress Development in progress Infrastructure Total capital assets not being depreciated/amortized $ 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 829,863,678 512,776,458 Increases $ 808,613,515 46,912,648 338,677,066 468,300 12,192,243 2,151,253,651 Balance June 30, 2024 Decreases $ 3,998,817 112,777,373 $ 3,034,516 872,777,509 738,676,151 468,300 817,771,242 398,250,257 119,810,706 2,429,693,202 2,290,171,070 416,898,077 450,270,275 80,707,725 59,972,441 18,307,503 11,486,084 46,126,060 2,359,392,711 430,744,458 468,577,778 131,878,370 74,005,468 9,865,922 196,017,916 45,371,592 5,513,400 3,340,102,784 11,597,095 2,906,983 247,497,215 4,770,297 4,093,146 76,341,509 52,198,390 4,327,237 3,511,258,490 797,346,210 311,307,111 165,806,125 48,799,714 43,496,322 8,638,505 3,558,489 34,296,469 842,587,435 320,506,964 174,444,630 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 24,513,094 37,652,353 8,205,548 53,959,899 11,279,692 3,360,222 1,313,612,454 6,707,010 1,846,688 147,140,592 2,771,442 3,778,003 52,609,951 15,215,260 1,428,907 1,408,143,095 Total capital assets being depreciated/ amortized, net 2,026,490,330 100,356,623 23,731,558 2,103,115,395 Governmental activities capital assets, net $ 4,177,743,981 68 $ 498,606,880 $ 143,542,264 $ 4,532,808,597 Notes to the Financial Statements (Continued) The County pledged certain governmental activities land and buildings as collateral for various certificates of participation. See Note 15 – Long-term Liabilities for additional information regarding outstanding debt at June 30, 2024. Depreciation 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 $54,718,842 54,296,461 7,607,066 8,058,787 9,905,251 829,172 11,440,887 $146,856,466 NOTE 13 – CONSTRUCTION AND OTHER SIGNIFICANT COMMITMENTS At June 30, 2024, 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, 2024, Maricopa County Transportation Department had contractual commitments, including retention payable, of $36,732,664 for construction of various roadway projects. At June 30, 2024, the County had spent $757,896,086 on these projects and had related estimated cost of completion based on the project budgets of $484,294,000, 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, 2024, Maricopa County Flood Control District had contractual commitments, including retention payable, of $56,948,786 for the construction of various flood control projects. At June 30, 2024, the County had spent $309,572,477 on these projects and had related estimated cost of completion based on the project budgets of $408,146,500, 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, 2024, Maricopa County had contractual commitments of $149,289,654, including retention payable, related to major capital projects accounted for in the County Improvement Fund (major governmental fund), Technology Capital Improvement Fund, and Detention Technology Capital Improvement Fund (nonmajor governmental funds), which are partially financed by long-term debt and through transfers from the General Fund and Detention Operations Fund. At June 30, 2024, the County had spent $142,960,936 on these projects and had related estimated cost of completion based on the project budgets of $23,954,226, of which not all projects may be completed. 69 Notes to the Financial Statements (Continued) Construction of Various County Facilities At June 30, 2024, Maricopa County had contractual commitments of $88,569,568 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, 2024, the County had spent $273,530,278 on these projects and had related estimated cost of completion based on the project budgets of $419,544,747, of which not all projects may be completed. NOTE 14 – CLAIMS AND JUDGMENTS The final judgement in the class action property tax-related lawsuit known as Qasimyar vs. Maricopa County was entered on February 5, 2024. The judgement requires the County to issue all property tax refunds related to the case to the taxpayers by December 31, 2024. Therefore, the County recorded liabilities in the General Fund, Library District Fund, and Flood Control Capital Projects Fund of $48.9m, $1.8m, and $5.9m, respectively. NOTE 15 – LONG-TERM LIABILITIES The following schedule details the County’s long-term liability and obligation activity for the year ended June 30, 2024. Balance July 1, 2023 Governmental activities: Bonds, certificates of participation (COP), and other payables: COP, direct placement COP PRO, direct placement Financed purchases Leases 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 $ 77,955,000 33,000,000 251,755,000 29,632,472 38,071,774 59,616,041 490,030,287 1,608,424 $ Additions Reductions Balance June 30, 2024 190,450,000 $ $ 5,894,810 14,504,078 64,487,674 275,336,562 77,955,000 16,100,000 251,755,000 11,807,957 9,782,942 24,330,827 391,731,726 1,608,424 190,450,000 16,900,000 Due Within One Year $ 45,000,000 16,900,000 23,719,325 42,792,910 99,772,888 373,635,123 17,824,516 7,487,556 24,809,259 112,021,331 491,638,711 275,336,562 393,340,150 373,635,123 112,021,331 90,438,022 208,818,115 215,851,067 83,405,070 36,304,374 353,907 5,890,078 581,486 6,243,985 1,878,915,369 29,254,217 339,438,656 1,568,730,930 1,975,597,376 238,072,332 555,643,630 1,658,026,078 36,885,860 $ 2,467,236,087 $ 513,408,894 $ 948,983,780 $ 2,031,661,201 $ 148,907,191 The County also has an unused revolving line of credit in the amount of $35,000,000. See Note 17 – Line of Credit for more information. Certificates of Participation 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, 70 Notes to the Financial Statements (Continued) 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 June 12, 2024, Maricopa County issued $190,450,000 of Certificates of Participation, Series 2024, direct placement, to pay for various capital projects. The two largest projects are the Downtown Office and Election Facility and the Southeast Juvenile Facility Remodel. The certificates have an interest rate of 4.2%, payable semiannually on August 1 and February 1 of each year, commencing on August 1, 2025, through 2026. 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 $190,450,000 and $16,900,000, 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, 2024: DESCRIPTION INTEREST RATES AMOUNT OF ISSUE COP, Series 2018A $ COP, Series 2024 direct placement $ Total MATURITY DATES 106,295,000 4.0 – 5.0% 7-1-24 190,450,000 4.2% 8-1-25/26 296,745,000 OUTSTANDING AT JUNE 30, 2024 $ 16,900,000 190,450,000 $ 207,350,000 Annual debt service requirements to maturity for certificates of participation are as follows: Governmental Activities COP, Series 2024– Direct Placement COP, Series 2018A Year Ending June 30 Principal 2025 $ 16,900,000 Interest $ 45,000,000 $ 5,050,633 71,100,000 5,322,771 2027 74,350,000 1,549,826 $ 190,450,000 $11,923,230 Total $ 422,500 Interest 2026 $ 16,900,000 $ Principal 422,500 Financed Purchases The County has acquired vehicles, computer systems, and equipment under contract agreements at a total purchase price of $23,719,325. The following schedule details debt service requirements to maturity for the County’s financed purchases at June 30, 2024. Governmental Activities Year Ending June 30 2025 Principal $ 17,824,516 5,894,809 $ $ 23,719,325 $ 1,073,620 2026 Total Interest 71 796,147 277,473 Notes to the Financial Statements (Continued) 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, do not transfer ownership of the asset to the County during the lease, are exchange or exchange-like transactions, 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 12 - Capital Assets. The total amount of lease assets and the related accumulated amortization are as follows: $ Intangible right-to-use lease assets being amortized Less: accumulated amortization Carrying value $ 56,525,627 16,644,167 39,881,460 The following schedule details minimum lease payments to maturity for the County’s leases payable at June 30, 2024: Governmental Activities Year ending June 30 2025 Principal $ Interest 7,487,556 $ 1,351,408 2026 4,989,682 2027 3,919,781 1,133,228 990,620 2028 3,960,283 857,671 2029 4,092,167 721,536 2030-2034 13,546,955 1,797,144 2035-2039 4,167,723 398,700 2040-2044 475,957 69,231 2045-2046 152,806 $ 42,792,910 Total $ 6,454 7,325,992 Subscription-based information technology arrangements (SBITAs) The County has obtained the right-to-use various Software as a Service (SaaS) cloud-based systems, enterprise resource planning software, payroll and human resources software, property appraisal software system, and other desktop and server software 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 ownership of the asset to the County during the term of the subscription, are an exchange or exchange-like transactions, and meet the threshold where the present value of the minimum subscription payments is $1,000,000 or more, the County recognizes a right-to-use SBITA asset and a corresponding SBITA liability. The right-to-use SBITA asset is initially measured as the initial subscription liability amount, plus payments associated with the SBITA contract made to the SBITA vendor before commencement of the subscription term, plus capitalizable initial implementation costs, 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 being amortized Less: accumulated amortization Carrying value 72 $ $ 196,017,916 53,959,899 142,058,017 Notes to the Financial Statements (Continued) The following schedule details minimum subscription payments to maturity for the County's subscription liability at June 30, 2024: Year ending June 30 2025 2026 2027 2028 2029 2030-2034 2035-2037 Total Governmental activities Principal Interest 24,809,259 $ 3,544,847 24,979,230 2,634,726 12,024,537 1,717,189 10,127,188 1,302,437 8,205,843 954,971 16,771,970 1,639,234 2,854,861 188,887 99,772,888 $ 11,982,291 $ $ Funding Source for Governmental Activities Liabilities Governmental Activities Liabilities Funding Source Certificates of participation County Improvement Debt Fund Financed purchases County Improvement Debt Fund, General Fund Leases Various funds Subscription-based information technology arrangements Various funds Reported and incurred but not reported claims Risk Management Fund and Employee Benefits Trust Fund (Internal service funds) Liability for closure and postclosure costs General Fund Net pension and other postemployment benefits liabilities 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, 2024, the allowable six and fifteen percent limits were $5,493,429,508 and $13,733,573,771, respectively. The County had no outstanding general obligation debt at June 30, 2024, 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, 2024, the County had no arbitrage liability. NOTE 16 – 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 in May 2007 and the final cover was completed in October 2010. At June 30, 2024, 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 $5,890,078. 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 2024. 73 Notes to the Financial Statements (Continued) 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. NOTE 17 – MUNICIPAL REVOLVING LINE OF CREDIT AND IRREVOCABLE STANDBY LETTER OF CREDIT On July 1, 2023, 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, 2024. Outstanding principal and interest are due on June 30 of each year. During fiscal year 2024, the County had not borrowed against the line of credit. The municipal revolving line of credit was renewed to June 30, 2025. On July 1, 2023, the County maintained a $21,543,845 irrevocable standby letter of credit issued to the Industrial Commission of Arizona for unfunded workers’ compensation claims. On January 1, 2024, the letter of credit was increased to $24,081,701. The letter of credit was reserved against the municipal revolving line of credit. During fiscal year 2024, the letter of credit had not been drawn upon. The irrevocable standby letter of credit was renewed to June 30, 2025, for $24,081,701. However, an amendment will be issued on January 1, 2025, for the new liability amount. NOTE 18 – 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 have not exceeded the commercial insurance coverage limits over the past 3 years. 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, 2024, 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 $ $ 1,822,000 20,778,000 21,078,000 2,796,000 1,099,000 279,000 244,000 167,000 4,794,434 6,062,262 46,000 5,233,000 64,398,696 Changes in the unpaid claims liability reported in the Risk Management Trust Fund follow: Year 2021-22 2022-23 2023-24 $ Balance July 1 76,447,497 79,898,171 74,022,111 Current-Year Claims And Changes In Estimates $ 27,098,318 11,637,099 10,629,955 74 Claims Payments $ (23,647,644) (17,513,159) (20,253,370) Balance June 30 $ 79,898,171 74,022,111 64,398,696 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, 2024, for each insurable area follow: Medical Dental Short-term disability Vision Total $ $ 17,821,532 699,790 401,021 84,031 19,006,374 Changes in the unpaid claims liabilities reported in the Employee Benefits Trust Fund follow: Year 2021-22 2022-23 2023-24 Balance July 1 $ 16,709,378 15,438,094 16,415,911 Current-Year Claims And Changes In Estimates $ 167,063,412 164,280,588 198,188,160 $ Claims Payments (168,334,696) (163,302,771) (195,597,697) $ Balance June 30 15,438,094 16,415,911 19,006,374 NOTE 19 – 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 18 – Risk Management. At June 30, 2024, the County reported $10,856,696 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. 75 Notes to the Financial Statements (Continued) NOTE 20 – 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, 2024, 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 $ 50,560,580 1,568,068,304 Net OPEB liability 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) 662,626 536,551,213 5,144,591 83,647,397 18,261,756 209,513,996 (5,494,279) The County’s accrued payroll and employee benefits includes $9,153,751 of outstanding pension and OPEB contribution amounts payable to all plans for the year ended June 30, 2024. Also, the County reported $399,460,784 of pension and OPEB contributions as expenditures in the governmental funds related to all pension 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, Articles 2 and 2.1. 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, health insurance premium supplement, long-term disability, 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: 76 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, 2024, statute required active ASRS members to contribute at the actuarially determined rate of 12.29 percent (12.14 percent for retirement and 0.15 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 12.29 percent (12.03 percent for retirement, 0.11 percent for health insurance premium benefit, and 0.15 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 9.99 percent (9.94 percent for retirement and 0.05 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, 2024, were $85,268,126, $772,064, and $1,054,077. 77 Notes to the Financial Statements (Continued) During fiscal year 2024, the County paid for ASRS pension and OPEB contributions as follows: 60.9% from the General Fund, 12.1% percent from major funds, and 27% percent from other funds. Liability—At June 30, 2024, 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 813,999,493 Health insurance premium benefit Long-term disability (27,532,025) 662,626 The net asset and net liabilities were measured as of June 30, 2023. 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, 2022, to the measurement date of June 30, 2023. 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, 2023. The County’s proportions measured as of June 30, 2023, and the change from its proportions measured as of June 30, 2022, were: ASRS Pension Health insurance premium benefit Long-term disability Proportion June 30, 2023 5.0% 5.1% 5.0% Increase (decrease) from June 30, 2022 0.1 0.2 0.1 Expense—For the year ended June 30, 2024, the County recognized the following pension and OPEB expense. ASRS Pension Health insurance premium benefit Long-term disability Pension/OPEB expense 112,064,100 (3,333,135) 636,886 Deferred outflows/inflows of resources—At June 30, 2024, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: ASRS Differences between expected and actual experience Deferred outflows of resources Pension $18,393,149 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources Deferred inflows of resources $ $1,161,799 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 28,800,018 19,027,030 $10,267,369 $598,273 $372,948 547,885 174,860 964,512 1,209,252 9,934,471 184,120 85,268,126 $122,688,305 Long-term disability Deferred Deferred outflows of inflows of resources resources 400,361 772,064 $38,734,489 $2,117,983 78 53,024 136,518 132,470 1,054,077 $12,424,867 $1,963,728 $1,522,954 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 liability in the year ending June 30, 2025. 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 2025 2026 2027 2028 2029 Thereafter Health insurance premium benefit (4,643,230) (5,099,743) (689,601) (702,313) 55,939 Pension (2,967,044) (25,806,312) 31,037,888 (3,578,842) Long-term disability (76,900) (186,289) 22,941 (183,201) (170,141) (19,713) 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 June 30, 2022 June 30, 2023 Entry age normal 7.0% 2.9–8.4% for pensions/not applicable for OPEB 2.3% Included for pensions/not applicable for OPEB Mortality rates 2017 SRA Scale U-MP for pensions and health insurance premium benefit Recovery rates Healthcare cost trend rate 2012 GLDT for long-term disability 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, 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 Public equity Credit Real estate Private equity Interest rate sensitive Total Target Allocation 44% 23% 17% 10% 6% 100% 79 Long-Term Expected Geometric Real Rate of Return 3.50% 5.90% 5.90% 6.70% 1.5% Notes to the Financial Statements (Continued) Discount rate— At June 30, 2023, 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%) $ 1,219,251,690 Current Discount Rate (7.0%) $ 813,999,493 1% Increase (8.0%) $ 476,090,853 (19,243,674) (27,532,025) (34,575,265) 968,966 662,626 361,256 Net long-term disability liability Plan fiduciary net position—Detailed information about the pension 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 $614,348 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. 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 80 Notes to the Financial Statements (Continued) 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 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. 81 Notes to the Financial Statements (Continued) 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. 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, 2024, the following employees were covered by the agent plans’ benefit terms: 82 Notes to the Financial Statements (Continued) Inactive employees or beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Active employees Total PSPRS Sheriff Pension Health 619 619 PSPRS Attorney Investigators Pension Health 25 25 CORP Detention Health 813 813 Pension 152 91 2 0 518 0 515 1,286 515 1,225 7 34 7 32 1,191 2,522 1,191 2,004 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, 2024, are indicated below. Rates are a percentage of active members’ annual covered payroll. Active member-pension County-pension County-health insurance premium benefit 7.65%-11.65% 71.44%-75.71% 0.0-0.11% PSPRS Attorney Investigators CORP Detention 7.65-9.56 8.41 24.92-27.66 33.75 0.0-0.12 0.0 CORP AOC 8.41 or 9.81 39.43 or 40.94 0.27 or 0.28 PSPRS Sheriff 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 62.59% 0.0% PSPRS Attorney Investigators CORP Detention 16.23% 29.03% 0.0% 0.0% CORP AOC 36.31% 0.01% The County’s contributions to the plans for the year ended June 30, 2024, were: Pension PSPRS Sheriff $ PSPRS Attorney Investigators CORP Detention CORP AOC 132,233,668 913,903 130,173,747 32,070,495 Health insurance premium benefit $ 17,832 253 0 175,842 During fiscal year 2024, the County paid for PSPRS and CORP pension and OPEB contributions as follows: 57.43 percent from the General Fund, 40.64 percent from major funds, and 1.93 percent from other funds. 83 Notes to the Financial Statements (Continued) Liability—At June 30, 2024, 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) $ 191,904,824 2,061,661 197,167,313 272,902,995 Net OPEB (asset) liability $ (8,551,912) (88,175) (10,393,628) (255,589) The net assets and net liabilities were measured as of June 30, 2023, and the total liability used to calculate the net asset or liability was determined by an actuarial valuation as of that date. 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, 2023 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, 2023, 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: 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% 6% 20% 5% 2% 100% Long-term expected geometric real rate of return 3.98% 4.49% 7.28% 4.49% 1.90% 6.19% 3.68% 0.69% Discount rates—At June 30, 2024, the discount rate used to measure the PSPRS and CORP total pension/OPEB liabilities was 7.2 percent. The projection of cash flows used to determine the discount rate 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 84 Notes to the Financial Statements (Continued) 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, 2023 Changes for the year: Service cost Interest on the total liability Differences between expected and actual experience in the measurement of the liability Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Other changes Net changes Balances at June 30, 2024 Pension Increase (decrease) Total pension liability (a) $716,536,566 (38,927,945) 52,191,509 $768,728,075 PSPRS Attorney Investigators Balances at June 30, 2023 Changes for the year: Service cost Interest on the total liability Differences between expected and actual experience in the measurement of the liability Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Net changes Balances at June 30, 2024 Net pension (asset) liability (a) – (b) $ 336,976,208 Total OPEB liability (a) $ 8,562,794 10,497,799 50,945,068 204,152 617,144 192,254,613 5,128,298 39,034,765 29,676,587 (192,254,613) (5,128,298) (39,034,765) (111,644) (38,927,945) (225,378) (1,460) 197,262,893 $576,823,251 225,378 1,460 (145,071,384) $ 191,904,824 Plan fiduciary net position (b) $379,560,358 10,497,799 50,945,068 29,676,587 Health insurance premium benefit Increase (decrease) $ (1,135,098) 641,186 $ 14,037,014 204,152 617,144 (111,644) (36,514) (36,514) (1,255,534) (390,993) (390,993) (7,700) 7,700 318,659 8,881,453 929,869 $17,433,365 $ (611,210) (8,551,912) Health insurance premium benefit Increase (decrease) Net pension (asset) liability (a) – (b) $ 1,765,010 Total OPEB liability (a) $ 157,589 101,850 930,969 3,256 11,090 3,256 11,090 552,992 58,750 873,765 743,465 (552,992) (58,750) (873,765) 65,610 65,610 (1,135,098) (5,874) 344,535 $11,975,353 5,874 296,651 $ 2,061,661 Plan fiduciary net position (b) $11,630,818 101,850 930,969 743,465 Net OPEB (asset) liability (a) – (b) $ (7,940,702) 36,514 36,514 1,255,534 Pension Increase (decrease) Total pension liability (a) $ 13,395,828 Plan fiduciary net position (b) $16,503,496 85 Plan fiduciary net position (b) $ 303,135 (13,643) $ 66,313 223,902 $ Net OPEB (asset) liability (a) – (b) $ (145,546) 22,747 (22,747) (13,643) (162) 8,942 312,077 162 57,371 (88,175) $ Notes to the Financial Statements (Continued) CORP Detention Pension Increase (decrease) Balances at June 30, 2023 Changes for the year: Service cost Interest on the total liability Differences between expected and actual experience in the measurement of the liability Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense Tiers 1 & 2 Adjustments Other changes Net changes Balances at June 30, 2024 Total pension liability (a) $709,555,889 Plan fiduciary net position (b) $404,635,638 Health insurance premium benefit Increase (decrease) Net pension (asset) liability (a) – (b) $304,920,251 Total OPEB liability (a) $11,846,208 11,089,962 50,777,429 14,214,045 203,968 852,346 (509,021) 11,089,962 50,777,429 14,214,045 (30,807,577) 139,587,099 6,875,908 38,397,331 (30,807,577) (139,587,099) (6,875,908) (38,397,331) 45,273,859 $754,829,748 (547,214) (443,800) (34,950) 153,026,797 $557,662,435 547,214 443,800 34,950 (107,752,938) $197,167,313 Plan fiduciary net position (b) $21,188,287 203,968 852,346 (509,021) 1,621,605 (424,073) (1,621,605) (22,763) 22,763 1,174,769 $22,363,056 (1,051,549) $(10,393,628) (424,073) 123,220 $11,969,428 Net OPEB (asset) liability (a) – (b) $(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, 2023. The County’s proportion measured as of June 30, 2023, and the change from its proportions measured as of June 30, 2022, were: CORP AOC Proportion June 30, 2023 60.4% 61.4 Pension Health insurance premium benefit Increase (decrease) from June 30, 2022 0.9 1.7 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/OPEB (asset) 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 $ 291,646,111 (7,590,582) Current discount rate (7.2%) $ 191,904,824 (8,551,912) 1% Increase (8.2%) $ 110,183,595 (9,364,090) 3,403,902 (67,849) 2,061,661 (88,175) 918,132 (105,674) 310,998,403 (8,910,889) 197,167,313 (10,393,628) 105,716,483 (11,631,118) 365,710,254 771,140 272,902,995 (225,589) 197,290,535 (1,122,494) Plan fiduciary net position—Detailed information about the plans’ fiduciary net position is available in the separately issued PSPRS and CORP financial reports. 86 Notes to the Financial Statements (Continued) Expense—For the year ended June 30, 2024, the County recognized the following pension and OPEB expense: Pension expense PSPRS Sheriff PSPRS Attorney Investigators CORP Detention CORP AOC (County’s proportionate share) $ $ 38,274,420 1,185,620 39,340,648 36,029,398 OPEB expense (1,066,874) 17,484 (1,225,623) (352,050) Deferred outflows/inflows of resources—At June 30, 2024, 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 $29,373,905 4,351,545 $406,514 917,616 145,616 132,233,668 17,832 $166,876,734 PSPRS Attorney Investigators Differences between expected and actual experience Net difference between projected and actual earnings on plan investments County contributions subsequent to the measurement date Total Pension $406,514 Deferred outflows of resources Deferred inflows of resources $371,733 $0 $272,560 2,597 913,903 253 $1,383,100 Pension $0 Deferred outflows of resources Deferred inflows of resources $31,735,965 7,589,321 $1,062,532 $1,271,606 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $32,805 $0 97,464 CORP Detention 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 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $1,271,606 $109,112 $35,655 $0 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $1,507,515 $150,924 1,061,803 130,692 130,173,747 $170,560,836 87 $1,062,532 $281,616 $1,507,515 Notes to the Financial Statements (Continued) CORP AOC 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 Deferred outflows of resources Deferred inflows of resources $14,765,668 5,003,300 $2,653,741 Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources 3,003,227 3,031,265 84,496 1,301,000 32,070,495 $57,873,955 $1,496,496 $40,126 58,992 18,981 175,842 $3,954,741 $359,456 $1,515,477 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 an increase in the net asset or reduction of the net liability in the year ending June 30, 2025. 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 2025 2026 2027 2028 2029 PSPRS Sheriff Pension 9,537,797 4,279,607 15,685,862 4,733,286 Health (697,180) (424,110) 142,542 (38,130) PSPRS Attorney Investigators Pension Health 348,336 32,377 (137,136) (3,671) 269,077 6,980 (11,080) (284) CORP Detention Pension 16,431,543 7,739,971 16,176,977 (1,023,934) Health (561,490) (703,829) 237,244 (112,987) (84,837) CORP AOC Pension 6,225,663 (363,209) 13,180,564 2,805,701 Health (533,137) (452,662) (137,826) (153,199) (55,039) 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, 2024, 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, 2024, the County recognized pension expense of $1,234,290. 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 88 Notes to the Financial Statements (Continued) 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 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 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 Final average salary is based on Benefit percent Normal Retirement Disability Retirement Survivor 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, 2024, statute 89 Notes to the Financial Statements (Continued) 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 76.51 percent of all active EORP members’ annual covered payroll. Also, statute required the County to contribute 64.37 percent to EORP of the annual covered payroll of elected officials and judges who were ASRS members and 70.51 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 58.57 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, 2024, were $16,780,777. During fiscal year 2024, the County paid for EORP pension contributions as follows: 99.38 percent from the General Fund and 0.62 percent from other nonmajor funds. Liability—At June 30, 2024, 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 $ 89,417,670 $ 99,973,536 189,391,206 The County also reported an asset of $3,686,082 for its proportionate share of EORP’s net OPEB asset. The net asset and net pension liability was measured as of June 30, 2023, and the total liability used to calculate the net asset or net liability was determined by an actuarial valuation as of that date. 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, 2023. 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, 2023. The County’s proportion measured as of June 30, 2023, and the change from its proportions measured as of June 30, 2022, were: EORP Pension Health insurance premium benefit Proportion June 30, 2023 14.3% 27.5% Increase (decrease) from June 30, 2022 (11.8) 0.3 Expense—For the year ended June 30, 2024, the County recognized pension and OPEB expenses for EORP of $(17,448,224) and ($167,602), respectively, and revenue of $15,810,490 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, 2024, the County reported deferred outflows of resources and deferred inflows of resources related to pensions and OPEB from the following sources: 90 Notes to the Financial Statements (Continued) EORP Pension Deferred outflows of resources $ 375,054 Differences between expected and actual experience 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 Deferred inflows of resources $ Health insurance premium benefit Deferred Deferred outflows of inflows of resources resources $ 47,593 $ 65,517 $ 16,780,777 $ 17,155,831 39,489,121 $ 39,489,121 19,336 $ 113,110 $ 19,336 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 pension liability in the year ending June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to EORP pensions and OPEB will be recognized in pension expense as follows: Year ending June 30 2025 2026 2027 2028 $ Pensions (39,560,671) (489,879) 1,016,385 (79,902) Health insurance premium benefit 19,672 (74,835) 160,323 (11,386) 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, 2023 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, 2023, 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 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: 91 Notes to the Financial Statements (Continued) Target allocation Long-term geometric real rate of return U.S. public equity 24% 3.98% International public equity 16% 4.49% Global private equity 20% 7.28% Other assets (capital appreciation) 7% 4.49% Core bonds 6% 1.90% Private credit 20% 6.19% Diversifying strategies 5% 2% 100% 3.68% Asset class Cash - Mellon Total 0.69% Discount rate—At June 30, 2023, the discount rate used to measure the EORP total pension liability and total OPEB liability was 7.2 percent. 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 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: 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%) $ 103,301,126 $ 89,417,670 $ 77,514,015 $ (3,391,128) $ (3,686,082) $ (3,943,631) 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, 2024, 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, 2024, the County recognized pension expense of $344,681. 92 Notes to the Financial Statements (Continued) NOTE 21 – INTERFUND BALANCES AND ACTIVITY Interfund receivables and payables – interfund balances at June 30, 2024, were as follows: Payable To Payable from Nonmajor Governmental Funds Internal Service Funds Total Due From General Fund $15,758,926 $525,223 $16,284,149 Total Due To $15,758,926 525,223 $16,284,149 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, 2024. Interfund transfers – interfund transfers for the year ended June 30, 2024, were as follows: Transfers In Transfers Out General Fund General Fund County Improvements Fund $374,157,202 Detention Operations Fund $214,568,824 General Fund $ Coronavirus Fiscal Recovery Fund Nonmajor Governmental Funds $58,369,152 Internal Service Funds Total Transfers Out $647,095,178 $ 2,300,000 Detention Operations Fund 651,738 2,945,878 2,300,000 33,318,260 33,318,260 1,313,728 8,316,057 County Improvement Fund 3,404,713 General Fund County Improvements Fund Nonmajor Governmental Funds 10,296,061 31,185,861 3,868,720 12,078,309 112,765,836 Total Transfers In $44,886,635 $219,089,282 $391,481,389 $205,766,976 10,296,061 $ 3,500 159,902,226 3,500 $861,227,782 All interfund transfers are budgeted and are used to move revenues from the fund that collects them to the fund that expends them. The principal purpose of interfund transfers was to provide funds for the statutorily required Maintenance of Effort payments from the General Fund to the Detention Operations Fund, to cover debt service payments, and for capital projects. The interfund receivables, payables, and transfers by fund are as follows: Due From Other Funds Funds Due To Other Funds Transfers In Transfers Out MAJOR FUNDS General Fund $ 16,284,149 $ $ 44,886,635 $ 647,095,178 Special Revenue Funds Coronavirus Fiscal Recovery 2,300,000 Detention Operations 219,089,282 33,318,260 391,481,389 10,296,061 Capital Projects Funds County Improvement Fund 8,316,057 General Fund County Improvement NONMAJOR FUNDS Special Revenue Funds Air Quality Grants 950,849 93 Notes to the Financial Statements (Continued) Due From Other Funds Funds Animal Control License/Shelter Due To Other Funds Clerk of the Court Grants 157,763 County Attorney Grants 985,518 Clerk of Court Fill The Gap 62,085 Transfers In 8,686,204 Transfers Out Elections Grants 1,371,477 Emergency Management 2,065,166 Environmental Services Environmental Health 54,563 Flood Control 39,008,044 Human Services Grants 6,118,583 1,991,315 Juvenile Probation Grants 25,000 Juvenile Restitution 25,000 Law Library Fees 500,000 Library District 319,637 Library District Grants 25,000 Parks and Recreation Grants 280,604 319,637 Pension Reserve Fund 5,695,061 Public Health Grants 3,806,870 Recorder Grants 1,371,477 School Grants 1,304,032 Superior Court Building Repair 500,000 Sheriff RICO 2,456 Transportation Operations 60,109 70,146,030 35,911,508 2,015,760 Capital Projects Funds Detention Capital Projects Detention Technology Capital Improvement 2,830 Flood Control Capital Projects 39,008,044 Technology Capital Improvement 11,330,924 Transportation Capital Projects 70,142,532 25,842,555 Debt Service Funds County Improvement Debt 36,365,663 7,309,150 Pledged Revenue 7,666,682 Internal Service Funds Equipment Services 3,500 Sheriff Supply Warehouse Total 525,223 $ 16,284,149 $ 94 16,284,149 $ 861,227,782 $ 861,227,782 Notes to the Financial Statements (Continued) NOTE 22 – SUBSEQUENT EVENT On August 21, 2024, the County issued $180,000,000 in Pledged Revenue Obligations, Taxable Series 2024, direct placement, to pay for pension related costs and obligations. The 2024 Pledged Revenue Obligations have an interest rate of 4.6%, payable semiannually on August 1 and February 1 of each year, commencing on August 1, 2025, through 2026. The County has pledged the County’s Excise Tax, State Shared Sales Tax, Vehicle License Tax, and PILT Revenues to repay $180,000,000 in pledged revenue obligations. The obligations are not callable prior to their scheduled maturity dates. NOTE 23 – 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, 2024, consist of the following: Deposits: Cash in bank $ Investments: Money market Federal Home Loan Banks Federal National Mortgage Association Government National Mortgage Association Arizona Community Foundation Down Payment Assistance Investment Notes $ Total deposits and investments: 1,238,830 16,157,625 27,117 10,901 2,451,881 3,369 19,889,723 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, 2024, $16,894,455, 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. 95 Notes to the Financial Statements (Continued) 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 IDA’s investments consisted of the following at June 30, 2024: 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 Arizona Community Foundation 27,117 $ 27,117 10,901 10,901 2,451,881 Totals: 2,451,881 1,385 Down Payment Assistance Investment Notes $ 2,453,266 Totals 1,984 $ 1,984 3,369 $ $ 38,018 $ 2,493,268 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, 2024 were in the Arizona Community Foundation. These investments were 98.3% 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, 2024, 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 gain in the fair value of investments of $267,981 and no realized gains or losses for the year ended June 30, 2024. 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. 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: 96 Notes to the Financial Statements (Continued) 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, 2024, 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 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: $ 27,117 10,901 2,451,881 2,489,899 $ $ 3,369 2,493,268 Level 3 $ $ 27,117 10,901 $ $ $ 38,018 $ 2,451,881 2,451,881 C. Capital Assets The following is a summary of the changes in capital assets for the year ended June 30, 2024 for HAMC: Balance July 1, 2023 Increase Balance June 30, 2024 Decrease Nondepreciable assets: Land Construction in progress Total capital assets not being depreciated $ Depreciable assets: Buildings and improvements Machinery and equipment Leasehold improvements 6,718,485 4,225,141 10,943,626 $ 23,148,750 23,148,750 $ 1,282,119 1,282,119 $ 6,718,485 26,091,772 32,810,257 152,487,222 6,432,361 1,500,746 238,525 833,909 14,022 56,940 153,973,946 6,613,946 833,909 158,919,583 2,573,180 70,962 161,421,801 49,881,324 4,080,427 4,317,647 524,528 177,605 2,059 37,533 54,196,912 4,567,422 177,605 Total 53,961,751 5,019,780 39,592 58,941,939 Total capital assets being depreciated, net 104,957,832 (2,446,600) 31,370 102,479,862 Total Less accumulated depreciation for: Buildings and improvements Machinery and equipment Leasehold improvements Total capital assets $ 115,901,458 $ 20,702,150 $ 1,313,489 $ 135,290,119 D. Long-Term Liabilities The following is a summary of the changes in noncurrent liabilities for the year ended June 30, 2024 for HAMC: 97 Notes to the Financial Statements (Continued) Balance July 1, 2023 Loans and other payables: Loans payable Subscriptions Other noncurrent liabilities Net pension liabilities Total noncurrent liabilities $ 39,708,645 587,001 3,427,666 $ 43,723,312 Additions Reductions Balance June 30, 2024 Due Within One Year $ 19,412,938 647,929 2,534,641 $ 2,083,240 100,892 119,266 518,242 $ 57,038,343 547,037 3,002,376 2,909,424 $ 18,924,483 105,264 15,243 $ $ 2,821,640 $ 63,497,180 $ 19,044,990 22,595,508 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 $309,395 as of June 30, 2024, which is included in accounts payable - HUD on the accompanying statement of net position. The following is a summary of loans payable for HAMC as of June 30, 2024: 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. 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. 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 instalments commencing December 1, 98 $ 3,654,269 570,000 450,000 500,000 900,000 1,289,970 218,030 277,982 1,391,445 170,000 13,088,895 Notes to the Financial Statements (Continued) 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 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 montly payments of interest only at a rate of SOFR plus 2.76% through maturity on July 30, 2024. On September 19, 2022, Norton C, LLC, entered into a loan agreement with State of Arizona Department of Housing in the amount of $1,325,000. The loan bears interest at a rate of 3.14% and matures on January 1, 2054. On December 22, 2023, GEM Heritage, LLC entered into a construction loan agreement with Wells Fargo Bank in the amount of $23,812,891. The loan bears interest at a rate of SOFR plus 2.15% and matures on the earlier of June 26, 2026 or the date the property is stabilized. Annual debt service requirements to maturity are as follows: Year Ending June 30 2025 2026 2027 2028 2029 2030-2034 2035-2038 Principal $ 18,178,306 462,002 1,401,475 500,321 520,084 35,026,155 950,000 $ 57,038,343 Total 99 1,262,826 951,942 955,933 300,000 335,742 5,420,713 4,800,000 17,720,250 1,192,500 920,744 100 Financial Section Required Supplementary Information Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund Year Ended June 30, 2024 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Taxes Licenses and permits $ 660,663,409 $ 660,663,409 $ 667,115,716 $ 6,452,307 1,398,392 1,398,392 1,787,918 389,526 Intergovernmental 1,150,421,503 1,150,473,650 1,183,476,898 33,003,248 Charges for services 55,439,336 55,251,248 63,410,762 8,159,514 Fines and forfeits 9,790,565 9,790,640 11,464,169 1,673,529 Interest income 2,400,000 2,400,000 64,632,846 62,232,846 Miscellaneous 2,271,985 2,459,998 65,359,122 62,899,124 1,882,385,190 1,882,437,337 2,057,247,431 174,810,094 Assessor 32,816,971 35,409,441 33,319,750 2,089,691 Assistant County Manager 2,700,591 2,797,302 2,522,363 274,939 Board of Supervisors 2,678,310 2,754,310 2,381,707 372,603 County Call Center 2,887,190 2,968,886 2,948,903 19,983 Clerk of the Board 1,906,970 1,958,580 1,523,516 435,064 County Attorney 11,495,691 11,819,552 11,748,138 71,414 Total revenues EXPENDITURES General government County Manager’s Office 3,414,986 4,493,216 3,655,801 837,415 Elections 26,116,742 26,806,971 21,352,117 5,454,854 Enterprise Technology 72,740,893 71,370,112 54,171,210 17,198,902 Equipment Services 1,684,240 3,261,381 3,387,025 (125,644) Facilities Management 56,764,644 58,027,857 51,455,455 6,572,402 Human Resources 14,794,400 15,251,053 15,176,413 74,640 Internal Audit 2,740,138 2,834,903 2,597,276 237,627 Non Departmental 125,576,087 88,113,957 19,878,319 68,235,638 Office of Budget and Finance 6,292,773 6,511,889 5,760,720 751,169 Procurement Services 3,235,591 3,333,115 2,820,672 512,443 Recorder 10,751,516 21,991,702 21,964,069 27,633 Treasurer 9,033,058 14,840,461 9,141,702 5,698,759 387,630,791 374,544,688 265,805,156 108,739,532 Adult Probation 84,231,432 88,987,307 86,327,636 2,659,671 Clerk of Superior Court Constables County Attorney 46,169,768 47,858,670 47,855,914 2,756 4,552,202 4,953,060 4,753,997 199,063 109,578,089 113,329,200 111,722,624 1,606,576 Emergency Management 4,561,087 6,533,999 5,559,386 974,613 Equipment Services 9,082,723 8,072,829 5,072,117 3,000,712 Facilities Management 3,999,977 3,913,940 657,785 3,256,155 Justice Courts 26,266,195 27,004,945 25,127,604 1,877,341 Juvenile Probation 26,356,801 27,441,737 26,203,349 1,238,388 Legal Advocate 19,667,822 20,396,163 20,256,700 Total general government Public safety The notes to the budgetary comparison schedules are an integral part of this schedule. 103 139,463 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2024 Variance With Final Budget - Budgeted Amounts Original Actual Amounts Final Positive (Negative) Public safety (cont.) Legal Defender $ Non Departmental 18,875,681 $ 62,913,049 18,585,237 $ 39,292,170 18,153,951 $ 431,286 10,198,976 29,093,194 Planning and Development 1,258,201 1,262,373 1,130,550 131,823 Public Advocate 12,961,655 13,476,260 13,186,259 290,001 Public Defender 56,520,654 58,676,577 58,416,598 259,979 Public Defense Services 57,822,175 58,976,714 58,210,525 766,189 Public Fiduciary 5,625,812 5,815,800 5,467,299 348,501 Sheriff Superior Court 202,716,566 140,257,500 893,417,389 209,325,844 146,361,473 900,264,298 196,933,524 129,603,323 824,838,117 12,392,320 16,758,150 75,426,181 120,109 127,734 50,931 76,803 1,096,656 1,096,656 1,096,656 945,259 945,259 945,259 Correctional Health 3,629,843 3,662,456 3,600,256 62,200 Environmental Services 14,500,197 14,666,151 14,320,325 345,826 Total public safety Highways and Streets Transportation Health, welfare and sanitation Air Quality Animal Care and Control Facilities Management 690,000 690,000 Human Services 4,403,446 4,471,408 4,468,582 2,826 Medical Examiner 15,747,046 16,945,489 16,166,693 778,796 Non Departmental 343,522,108 18,982,408 342,067,268 19,582,216 337,738,605 19,562,247 4,328,663 19,969 403,516,963 404,126,903 397,898,623 6,228,280 1,306,947 1,306,947 1,231,058 75,889 Non Departmental 3,247,978 661,411 3,309,659 650,329 3,147,395 158,239 162,264 492,090 Total Education 3,909,389 3,959,988 3,305,634 654,354 1,689,901,588 1,684,330,558 1,493,129,519 191,201,039 Public Health Total health, welfare and sanitation 690,000 Culture and recreation Parks and Recreation Education Superintendent of Schools Total expenditures Excess of revenues over expenditures $ 192,483,602 $ 198,106,779 The notes to the budgetary comparison schedules are an integral part of this schedule. 104 $ 564,117,912 $ 366,011,133 (continued) Maricopa County Required Supplementary Information Budgetary Comparison Schedule General Fund (Continued) Year Ended June 30, 2024 OTHER FINANCING SOURCES (USES) Financed Purchase Agreements $ Transfers in $ $ 4,405,165 $ 4,405,165 22,721,269 (644,323,955) 44,886,635 (649,947,132) 44,886,635 (647,095,178) 2,851,954 (621,602,686) (605,060,497) (597,803,378) 7,257,119 Net change in fund balances (429,119,084) (406,953,718) (33,685,466) 373,268,252 Fund balance, July 1, 2023 429,119,084 429,119,084 446,455,895 17,336,811 Transfers out Total other financing uses Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2024 $ $ 22,165,366 The notes to the budgetary comparison schedules are an integral part of this schedule. 105 $ 268,839 413,039,268 $ 268,839 390,873,902 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Coronavirus Fiscal Recovery Fund Year Ended June 30, 2024 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Intergovernmental Interest income Total revenues $ 500,965,971 $ 501,833,277 $ 194,783,997 26,224,990 $ (307,049,280) 26,224,990 500,965,971 501,833,277 221,008,987 (280,824,290) 63,934,622 45,836,356 23,667,954 22,168,402 205,877 242,401 170,981 71,420 2,551,623 2,530,460 842,008 1,688,452 1,471,662 881,994 242,834 639,160 77,759 77,759 1,126,767 297,399 69,587,950 813,487 506,399 50,888,856 207,155 117,544 25,326,235 606,332 388,855 25,562,621 717,953 313,877 119,070 194,807 30,176 69,069 69,069 3,678,807 3,767,629 2,078,904 274,433 420,589 112,924 307,665 9,322,700 8,687,480 4,423,793 4,263,687 EXPENDITURES General Government Assistant County Manager County Attorney County Manager Human Resources Non Departmental Office of Budget and Finance Procurement Services Total General Government Public Safety Adult Probation Clerk of the Superior court County Attorney Emergency Management Non Departmental Public Advocate Public Defense Services Public Fiduciary Superior Court Total Public Safety 1,688,725 243,513 448,556 280,400 168,156 8,419,130 8,198,884 2,115,873 6,083,011 4,310,350 219,904 27,216,966 5,018,359 482,882 27,407,325 1,340,695 280,205 10,820,933 3,677,664 202,677 16,586,392 3,200,000 3,148,045 1,759,716 1,388,329 4,912,154 1,276,732 302,279 974,453 293,516,563 281,691,200 111,520,801 170,170,399 24,687,411 26,858,606 9,255,011 17,603,595 7,927,713 51,516,902 23,198,794 68,706,763 12,139,943 20,483,397 11,058,851 48,223,366 385,760,743 404,880,140 155,461,147 249,418,993 18,400,312 18,656,956 3,175,672 15,481,284 500,965,971 501,833,277 194,783,987 307,049,290 26,225,000 26,225,000 Health, Welfare, and Sanitation Animal Care and Control Correctional Health Human Services Medical Examiner Non Departmental Public Health Total health, welfare and sanitation Culture and Recreation Parks and Recreation Total Expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers out Total other financing uses Net Change in fund balance (2,300,000) (2,300,000) (2,300,000) (2,300,000) (2,300,000) 23,925,000 (5,719,083) 18,205,917 6,643,493 6,643,493 Fund balance, July 1, 2023 $ 6,643,493 $ 4,343,493 Fund balance, June 30, 2024 The notes to the budgetary comparison schedules are an integral part of this schedule 106 $ $ 26,225,000 (12,362,576) 13,862,424 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Detention Operations Fund Year Ended June 30, 2024 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Taxes Intergovernmental $ Charges for services Fines & Forfeits Interest income Miscellaneous Total revenues 270,084,233 $ 270,084,233 $ 279,052,570 $ 8,968,337 4,267 4,272 3,200 (1,072) 22,908,177 22,908,172 24,634,653 1,726,481 8,851 8,851 750,000 750,000 6,199,029 70,205 5,449,029 70,205 293,746,677 293,746,677 309,968,508 16,221,831 50,056,467 50,561,263 49,790,515 770,748 56,549 56,549 56,549 1,104,670 1,482,046 1,380,398 101,648 2,036,704 3,351,012 1,581,086 1,769,926 33,015,558 34,288,697 29,218,306 5,070,391 158,249 EXPENDITURES Public safety Adult Probation Emergency Management Enterprise Technology Equipment Services Facilities Management Integrated Criminal Justice Information Juvenile Probation 2,010,495 2,052,538 1,894,289 40,190,664 42,590,603 42,058,294 532,309 24,010,125 9,527,525 692,024 8,835,501 282,007,818 288,886,058 267,494,777 21,391,281 434,489,050 432,796,291 394,166,238 38,630,053 83,713,252 87,106,393 86,474,825 631,568 325,343 337,481 337,481 Total expenditures 518,527,645 520,240,165 480,978,544 39,261,621 Deficiency of revenues under expenditures (224,780,968) (226,493,488) (171,010,036) 55,483,452 OTHER FINANCING SOURCES (USES) Transfers in 216,587,414 219,975,793 219,089,282 (886,511) (35,955,952) (35,955,952) (33,318,260) 1,489,645 2,637,692 1,489,645 180,631,462 184,019,841 187,260,667 3,240,826 (44,149,506) (42,473,647) 16,250,631 58,724,278 72,012,381 72,012,381 83,094,785 11,082,404 Non Departmental Sheriff Total public safety Health, welfare, and sanitation Correctional health Education County School Superintendent Transfers out Financed Purchase Agreements Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2023 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2024 $ 27,862,875 $ 29,538,734 The notes to the budgetary comparison schedules are an integral part of this schedule 107 $ 1,727,428 101,072,844 $ 1,727,428 71,534,110 Maricopa County Required Supplementary Information Budgetary Comparison Schedule Opioid Abatement Fund Year Ended June 30, 2024 Variance With Final Budget Budgeted Amounts Original Final Actual Positive Amounts (Negative) REVENUES Intergovernmental Settlement revenue $ 20,000,000 $ 20,000,000 $ 20,000,000 (20,000,000) 20,658,434 398,342 20,000,000 21,056,776 1,056,776 Interest income Total revenues $ 20,658,434 398,342 EXPENDITURES Health, welfare, and sanitation Non Departmental 20,000,000 Public Health Total health, welfare, and sanitation Total expenditures 20,000,000 4,220,820 15,779,180 20,000,000 20,000,000 4,220,820 15,779,180 20,000,000 20,000,000 4,220,820 15,779,180 16,835,956 16,835,956 16,835,956 10,407,542 27,243,498 16,835,956 6,309,031 23,144,987 Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 4,098,511 4,098,511 $ 4,098,511 4,098,511 The notes to the budgetary comparison schedules are an integral part of this schedule 108 $ $ Maricopa County Required Supplementary Information Notes to Budgetary Comparison Schedules June 30, 2024 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, Detention Operations Fund, and Opioid Abatement 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, Emancipation Administrative Costs, Justice Courts Photo Enforcement, and Street Lighting District 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 lease payments 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: General Fund Excess of revenues over expenditures from the statement of revenues, expenditures, and changes in fund balances Present value of lease payments Present value of subscription payments Excess of revenues over expenditure from the budgetary comparison schedules 109 $498,631,710 Coronavirus Fiscal Recovery $25,175,690 13,454,768 52,031,434 $564,117,912 1,049,310 $26,225,000 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability Cost-Sharing Plans June 30, 2024 Arizona State Retirement System 2024 (2023) 2023 (2022) Reporting fiscal year (measurement date) 2022 (2021) 2021 (2020) 5.0% 2020 (2019) County's proportion of the net pension liability County’s proportionate share of the net pension liability County’s covered payroll 5.0% $813,999,493 4.9% $792,447,087 5.0% $661,793,454 $859,913,468 $740,981,614 5.1% $657,265,286 $576,129,027 $ 564,459,191 $541,868,155 $515,839,976 County’s proportionate share of the net pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability 123.8% 137.5% 117.2% 158.7% 143.6% 75.5% 74.3% 78.6% 69.3% 73.2% Corrections Officer Retirement Plan—Administrative Office of the Courts County's proportion of the net pension liability County’s proportionate share of the net pension liability County’s covered payroll County’s proportionate share of the net pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability 2024 (2023) 2023 (2022) Reporting fiscal year (measurement date) 2022 (2021) 60.4% $272,902,995 59.5% $265,556,033 59.4% $220,624,900 60.2% $287,527,851 60.3% $254,496,651 $76,270,536 357.8% $69,847,482 380.2% $ 69,971,380 315.3% $71,975,534 399.5% $71,052,917 358.2% 59.3% 57.5% 62.5% 50.1% 52.0% Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2024 2023 2022 (2023) (2022) (2021) County's proportion of the net pension liability County’s proportionate share of the net pension liability State’s proportionate share of the net pension liability associated with the County Total County’s covered payroll County’s proportionate share of the net pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability 2021 (2020) 2020 (2019) 2021 (2020) 2020 (2019) 14.3% $89,417,670 26.1% $176,018,707 26.6% $162,072,424 31.0% $209,046,481 36.3% $240,825,637 47,200,717 15,617,827 16,290,912 19,868,205 22,635,120 $136,618,387 $191,636,534 $178,363,336 $228,914,686 $263,460,757 $22,055,983 619.4% $20,793,225 921.6% $20,745,477 859.8% $24,148,819 947.9% $32,728,218 805.0% 38.6% 32.0% 36.3% 29.8% 30.1% 110 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net Pension Liability Cost-Sharing Plans (Continued) June 30, 2024 Arizona State Retirement System 2019 (2018) 2018 (2017) Reporting fiscal year (measurement date) 2017 (2016) 2016 (2015) County's proportion of the net pension liability 4.9% 5.0% 5.1% 5.2% County’s proportionate share of the net $687,946,426 $772,309,903 $825,659,181 $809,331,280 pension liability County’s covered payroll $497,392,855 $484,648,435 $477,764,920 $479,712,628 County’s proportionate share of the net 138.3% 159.4% 172.8% 168.7% pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of 73.4% 69.9% 67.1% 68.4% the total pension liability Corrections Officer Retirement Plan—Administrative Office of the Courts County's proportion of the net pension liability County’s proportionate share of the net pension liability County’s covered payroll County’s proportionate share of the net pension liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total pension liability 2015 (2014) 5.1% $748,436,636 $457,944,565 163.4% 69.5% 2019 (2018) 2018 (2017) Reporting fiscal year (measurement date) 2017 (2016) 58.9% $212,174,173 58.6% $235,278,988 58.5% $165,172,262 57.3% $139,409,566 56.0% $125,717,900 $70,273,305 301.9% $67,273,479 349.7% $66,943,949 246.7% $65,257,263 213.6% $61,821,694 203.4% 53.7% 49.2% 54.8% 57.9% 58.6% 2016 (2015) 2015 (2014) Elected Officials Retirement Plan Reporting fiscal year (measurement date) 2019 (2018) County's proportion of the net pension liability 2018 (2017) 2017 (2016) 2016 (2015) 28.7% 2015 (2014) 26.1% 29.2% 32.1% 28.0% County’s proportionate share of the net pension liability $164,732,203 $355,290,457 $303,669,813 $224,240,437 $187,488,213 State’s proportionate share of the net pension liability associated with the County 28,225,796 115,022,979 62,699,965 69,908,836 57,485,628 Total $192,957,999 $470,313,436 $366,369,778 $294,149,273 $244,973,841 County’s covered payroll $31,666,783 $27,453,840 $27,158,658 $26,294,214 $25,707,192 County’s proportionate share of the net pension liability as a percentage of its covered payroll 609.3% 1,713.1% 1,349.0% 1,119.0% 952.9% Plan fiduciary net position as a percentage of the total pension liability 30.4% 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, 2024 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) 2024 (2023) 2023 (2022) Reporting fiscal year (measurement date) 2022 (2021) $ 10,497,799 50,945,068 $10,828,938 49,211,467 $11,059,714 47,638,139 $11,398,697 45,053,248 29,676,587 5,965,460 (985,429) 10,266,804 9,575,440 (38,927,945) 7,252,576 (40,045,251) (31,813,158) (30,127,457) 10,594,310 (28,677,092) 52,191,509 716,536,566 $ 768,728,075 33,213,190 683,323,376 $ 716,536,566 25,899,266 657,424,110 $ 683,323,376 36,591,292 620,832,818 $ 657,424,110 47,280,937 573,551,881 $ 620,832,818 $ 192,254,613 5,128,298 39,034,765 (38,927,945) $ 75,342,368 4,877,182 (14,258,578) (40,045,251) $ 32,250,070 4,921,073 76,130,066 (31,813,158) $ 32,110,823 5,317,986 3,366,838 (30,127,457) $ (225,378) (1,460) 197,262,893 379,560,358 $ 576,823,251 (257,162) 75,894 25,734,456 353,825,902 $ 379,560,358 (356,981) 69,062 81,200,132 272,625,770 $353,825,902 (274,575) 115,642 10,509,257 262,116,513 $ 272,625,770 (230,325) 131,094 21,979,509 240,136,989 $ 262,116,498 $ 191,904,824 $ 336,976,208 $ 329,497,474 $ 384,798,340 $ 358,716,320 75.0% 53.0% 51.8% 41.5% 42.2% $55,359,714 $ 51,125,113 346.7% 659.1% 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 $ 51,127,839 2021 (2020) $ 51,773,513 644.5% Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense $ 101,850 930,969 $ 122,220 878,051 $ $ 13,413,866 42,374,413 31,940,779 5,603,052 13,212,001 (28,677,092) $ 53,880,062 743.2% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2024 2023 2022 (2023) (2022) (2021) 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) 2020 (2019) 147,509 903,873 665.8% 2021 (2020) $ 2020 (2019) 162,734 908,177 $ 385,172 902,532 743,465 1,081,605 (171,625) (103,230) 79,273 (1,135,098) 164,119 (1,512,078) (904,330) (1,118,476) 95,767 (873,347) 641,186 13,395,828 $14,037,014 733,917 12,661,911 $ 13,395,828 $ (24,573) 12,686,484 12,661,911 (150,795) 12,837,279 12,686,484 589,397 12,247,882 12,837,279 $552,992 58,750 873,765 (1,135,098) $ $ (5,874) 112 871,154 51,759 (493,854) (1,512,078) (8,921) 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) Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2024 PSPRS Sheriff Reporting fiscal year (measurement date) 2019 (2018) 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) $ 2017 (2016) 2016 (2015) $ 13,198,618 36,942,782 4,589,857 $ 10,803,287 35,085,590 20,847,023 28,743 6,359,832 17,345,618 (12,732,697) 17,688,642 14,238,261 11,002,881 41,139,111 (28,495,519) 22,985,971 550,565,910 $ 573,551,881 (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 $ 20,021,150 5,345,050 15,616,477 $ 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 (28,495,519) (238,381) 123,309 12,372,086 227,766,687 $ 240,138,773 (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 $ 333,413,108 $322,799,223 $299,661,977 $261,403,217 $237,689,764 41.9% 41.4% 40.1% 42.6% 43.9% 52,850,657 $ 55,883,688 $ 53,433,053 $ 50,323,844 $ 42,465,860 630.9% 577.6% 560.8% 519.4% County’s net pension liability as a percentage of covered payroll $ 2015 (2014) 11,345,423 40,107,324 Plan fiduciary net position as a percentage of the total pension liability Covered payroll 2018 (2017) 8,569,277 32,648,223 $ 7,480,509 26,943,394 8,426,465 559.7% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2019 (2018) 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 $ 2018 (2017) 237,953 864,487 5,143 $ $ 248,675 822,148 (23,853) 2017 (2016) $ 266,004 847,697 (118,749) 2016 (2015) $ 2015 (2014) 253,874 853,275 148,216 687,975 361,998 (72,143) 670,559 (262,824) 344,143 (324,461) 406,452 1,360,402 (845,968) 261,615 11,986,267 12,247,882 (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 $ 1,124,841 126,880 486,062 $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) (6,478) (815,133) (4,685) (904,489) (4,332) (919,786) (4,094) (845,968) (8,098) 113 $ $ $ Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2024 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 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 (asset)—ending (a) – (b) 2024 (2023) 2023 (2022) 2022 (2021) 344,535 11,630,818 $11,975,353 $ (1,091,940) 12,722,758 11,630,818 $ 3,052,631 9,670,127 12,722,758 2,061,661 $ 1,765,010 $ (60,847) $ Plan fiduciary net position as a percentage of the total pension liability Covered payroll 85.3% $ 4,872,826 County’s net pension liability as a percentage of covered payroll 86.8% $ 3,998,660 42.3% 2024 (2023) 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) $ $ $ 2023 (2022) 11,089,962 50,777,429 12,296,461 47,691,387 $ 3,016,357 $ 3,565,056 $ 4,079,047 -1.5% Reporting fiscal year (Measurement date) 2022 (2021) $ 76.2% $ 4,041,539 72.2% $ 4,029,625 74.6% 88.5% 2021 (2020) 13,287,468 45,696,336 $ 13,394,907 41,607,029 2020 (2019) $ 15,808,183 37,503,283 14,214,045 14,492,259 (2,656,331) 26,630,427 21,019,595 (30,807,577) 8,596,721 (29,062,286) (26,951,740) (24,062,285) 14,587,736 (22,632,403) 45,273,859 709,555,889 754,829,748 54,014,542 655,541,347 709,555,889 29,375,733 626,165,614 655,541,347 57,570,078 568,595,536 $ 626,165,614 66,286,394 502,309,142 568,595,536 29,396,714 7,487,182 84,644,735 (26,951,740) $ 24,898,466 8,014,183 7,914,882 (24,062,285) (306,335) (190,683) 16,268,228 292,987,810 $ 309,256,038 $ (265,412) (70,685) 25,608,197 267,519,929 293,128,126 $ 275,467,410 139,587,099 6,875,908 38,397,331 (30,807,577) $ (547,214) (478,750) 153,026,797 404,635,638 557,662,435 County’s net pension liability—ending (a) – (b) $ 197,167,313 Plan fiduciary net position as a percentage of the total pension liability 73.9% Covered payroll $ County’s net pension liability as a percentage of covered payroll $ $ 2020 (2019) 58,955 1,519,455 7,752,768 9,272,223 100.5% 44.1% CORP Detention $ 2021 (2020) (46,523) 397,904 9,272,223 9,670,127 $ $ 38,595,842 7,408,812 (15,108,809) (29,062,286) $ $ $ (277,196) (84,150) 1,472,213 403,163,425 404,635,638 $ (389,231) (280,273) 93,907,387 309,256,038 403,163,425 $ 304,920,251 $ 252,377,922 $ 316,909,576 61.5% 49.4% 102,944,404 $ 99,862,066 245.2% 317.3% 57.0% 98,368,264 200.4% 114 $ 100,538,722 303.3% $ $ $ 25,575,779 8,168,768 14,832,150 (22,632,403) 51.6% $ 92,198,723 298.8% Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net Pension Liability and Related Ratios Agent Plans (Continued) June 30, 2024 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2019 (2018) Plan fiduciary net position—ending (b) $ 90 883,807 6,869,957 7,753,764 County’s net pension liability (asset)—ending (a) – (b) $ 4,494,118 Other changes Net change in plan fiduciary net position Plan fiduciary net position—beginning Plan fiduciary net position as a percentage of the total pension liability Covered payroll 2018 (2017) $ 77 1,293,390 5,576,567 6,869,957 $ 5,116,310 63.3% $ County’s net pension liability as a percentage of covered payroll 3,798,904 $ 118.3% 3,636,066 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 $ $ 2018 (2017) 16,078,305 37,311,464 (28,640,732) 6,322,623 49.2% $ $ 15,050,195 30,295,270 71,546,493 3,893,987 $ 3,247,944 38.2% $ 194.7% Reporting fiscal year (Measurement date) 2017 (2016) 14,204,315 29,393,196 1,084,506 6,918,459 42.9% 147.9% $ $ 208.8% 2016 (2015) $ 14,287,455 27,839,448 3,313,690 2015 (2014) $ 13,157,787 22,915,599 4,251,385 (3,602,883) 10,839,392 27,217,502 (23,239,350) (5,480,354) 507,789,496 502,309,142 (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 18,023,723 8,487,865 17,773,630 County’s net pension liability—ending (a) – (b) $ 234,789,213 County’s net pension liability as a percentage of covered payroll $ (11,595,604) 16,921,282 $ $ $ 104,307,731 225.1% 115 16,136,049 8,227,293 26,109,497 $ (20,850,551) (228,785) (259,017) 29,134,486 217,786,708 246,921,194 $ 260,868,302 53.3% $ 5,757,824 (4,519,288) 9,430,261 Plan fiduciary net position—ending (b) Covered payroll $ $ 2015 (2014) 68,762 703,975 3,572,620 4,276,595 (6,990,041) (23,239,350) (269,599) (177,534) 20,598,735 246,921,194 267,519,929 Plan fiduciary net position as a percentage of the total pension liability $ 140.7% 2019 (2018) $ $ 32 825,937 4,750,630 5,576,567 2016 (2015) (3,641) 474,035 4,276,595 4,750,630 57.3% CORP Detention Total pension liability Service cost Interest on the total pension liability Changes of benefit terms 2017 (2016) $ $ $ (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 $ $ 105,470,072 179.2% $ 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% $ 12,465,970 8,470,324 7,511,442 $ 56.5% $ 104,462,671 157.2% 56.7% $ 99,925,573 154.0% Maricopa County Required Supplementary Information Schedule of County Pension Contributions June 30, 2024 Reporting fiscal year 2024 Arizona State Retirement System 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 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) $ $ County’s covered payroll County’s contributions as a percentage of covered payroll 69,406,359 69,406,359 $ $ 65,899,776 65,899,776 $ $ 62,459,719 62,456,719 $ 564,459,191 541,868,155 12.0% 12.0% 12.0% 11.7% 11.5% 32,070,495 32,070,495 $ 28,010,281 28,010,281 $ $ 16,780,777 16,780,777 76,270,536 36.7% $ 14,453,145 14,453,145 $ 24,781,102 24,781,102 $ $ $ 69,847,482 35.5% $ 11,698,854 11,698,854 $ 22,055,983 65.5% $ 42,463,746 192,463,746 $ 35,515,494 75,515,494 $ $ (92,000,000) $ (150,000,000) $ (40,000,000) $ 913,903 913,903 $ $ 573,138 573,138 51,125,113 147.7% $ $ 4,941,177 18.5% 4,872,826 11.8% $ $ $ 3,998,660 22.0% 32,173,747 130,173,747 $ 29,717,777 139,717,777 $ 28,694,520 38,694,520 $ $ (98,000,000) $ (110,000,000) $ (10,000,000) $ 98,368,264 142.0% See accompanying notes to the pension plan schedules 116 100,538,722 38.5% $ 14,032,510 14,032,510 $ 32,428,673 32,428,673 24,148,819 58.1% $ 32,315,977 32,315,977 $ 1,169,393 1,169,393 51,773,513 62.4% $ 1,377,237 1,377,237 $ 4,079,047 28.7% $ 97,490,774 133.5% 11,847,708 11,847,708 51,127,839 63.4% 881,544 881,544 22,028,084 22,028,084 71,975,534 30.6% 20,745,477 57.1% $ 55,359,714 347.7% $ $ $ 20,793,225 56.3% 40,233,668 132,233,668 55,120,415 239.9% 23,387,516 23,387,516 69,971,380 33.4% $ $ 2020 576,129,027 23,916,526 70.2% County’s covered payroll County’s contributions as a percentage of covered payroll CORP Detention Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) $ 2021 657,265,286 $ County’s covered payroll County’s contributions as a percentage of covered payroll PSPRS Attorney Investigators Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) 78,849,856 78,849,856 $ 81,093,040 39.5% 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) $ 2022 709,077,156 $ County’s covered payroll 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) 85,268,126 85,268,126 2023 29,517,195 29,517,195 4,041,539 34.1% $ 25,084,557 25,084,557 $ 102,944,404 28.7% 99,862,066 25.1% Maricopa County Required Supplementary Information Schedule of County Pension Contributions (Continued) June 30, 2024 Reporting fiscal year 2019 Arizona State Retirement System Statutorily required contribution County’s contributions in relation to the statutorily required 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 51,696,840 52,137,019 $ 52,096,273 52,096,273 $ 479,712,628 11.2% 10.6% 10.8% 10.8% 10.9% 22,666,439 $ 15,669,281 $ 15,669,281 $ 13,204,078 $ 13,204,078 $ $ 12,319,262 12,319,262 $ $ 9,496,405 9,496,405 71,052,917 70,273,305 67,273,479 66,943,949 65,257,263 31.9% 22.3% 19.6% 18.4% 14.6% 16,310,970 $ 6,542,613 $ $ 6,542,613 $ 6,159,790 $ 6,065,753 $ 6,065,753 6,159,790 $ 6,033,621 6,033,621 $ 32,728,218 31,666,783 27,453,840 27,158,658 26,294,214 49.8% 0.0% 22.4% 22.3% 22.9% 30,654,710 $ 28,038,980 $ $ 20,277,318 7,761,662 $ 25,010,275 $ 25,010,275 $ 25,739,331 25,739,331 $ $ 18,736,372 18,736,372 53,880,062 52,850,657 55,883,688 53,433,053 50,323,844 56.9% 38.4% 44.8% 48.2% 37.2% 1,622,619 $ 1,223,363 $ $ 1,104,357 119,006 $ 1,622,619 $ $ 477,764,920 $ County’s covered payroll County’s contributions as a percentage of covered payroll 51,696,840 484,648,435 30,654,710 $ $ 2015 497,392,855 $ County’s covered payroll County’s contributions as a percentage of covered payroll 52,137,019 $ 16,310,970 $ 2016 515,839,976 $ County’s covered payroll County’s contributions as a percentage of covered payroll PSPRS Attorney Investigators Actuarially determined contribution County’s contributions in relation to the actuarially determined contribution County’s contribution deficiency (excess) $ 52,884,110 $ $ $ 2017 52,884,110 22,666,439 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) $ 57,600,648 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) 57,600,648 $ 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) 2018 1,461,227 $ 1,461,227 $ 1,399,472 1,399,472 $ $ 1,052,103 1,052,103 4,029,625 3,798,904 3,636,066 3,893,987 3,247,944 40.3% 29.1% 40.2% 35.9% 32.4% 24,700,209 $ 18,380,097 24,700,209 $ $ 18,380,097 $ 16,132,787 $ 16,132,787 $ $ 15,896,136 15,896,136 $ $ 12,444,879 12,444,879 92,198,723 104,307,731 106,256,020 105,470,072 104,462,671 26.8% 17.6% 15.2% 15.1% 11.9% See accompanying notes to the pension plan schedules 117 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) Cost-Sharing Plans June 30, 2024 Health Insurance Premium Benefit County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) County’s covered payroll 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) Long Term Disability County's proportion of the net OPEB liability County’s proportionate share of the net OPEB liability County’s covered payroll County’s proportionate share of the net OPEB liability as a percentage of its covered payroll Plan fiduciary net position as a percentage of the total OPEB liability Health Insurance Premium Benefit Arizona State Retirement System Reporting fiscal year (Measurement date) 2024 2023 2022 (2023) (2022) (2021) 5.1% 4.9% 5.1% $ (27,532,025) $(27,462,651) $(24,833,681) 2021 (2020) 5.0% $(3,555,865) 2020 (2019) 5.1% $(1,418,008) 657,265,286 -4.2% 576,129,027 -4.8% 564,459,191 -4.4% 541,868,155 -0.7% 515,839,976 -0.3% 134.4% 137.8% 130.2% 104.3% 101.6% Arizona State Retirement System Reporting fiscal year (Measurement date) 2024 2023 2022 (2023) (2022) (2021) 2021 (2020) 2020 (2019) 5.1% $662,626 4.9% $450,464 5.1% $1,045,980 5.0% $3,787,937 5.1% $3,326,276 657,265,286 0.1% 576,129,027 0.1% 564,459,191 0.2% 541,868,155 0.7% 515,839,976 0.6% 93.70% 95.4% 90.4% 68.0% 72.9% Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (Measurement date) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) County’s covered payroll 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) Health Insurance Premium Benefit 2024 (2023) 61.4% $ (255,589) 2023 (2022) 59.7% $225,458 2022 (2021) 59.8% $(80,050) 2021 (2020) 60.1% $2,366,417 2020 (2019) 60.4% $2,237,439 76,270,536 69,847,482 69,971,380 71,975,534 71,052,917 -0.3% 0.3% -0.1% 3.3% 3.1% 102.8% 97.5% 100.9% 75.1% 75.6% Elected Officials Retirement Plan Reporting fiscal year (Measurement date) 2024 (2023) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) County’s covered payroll 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) 2023 (2022) 2022 (2021) 2021 (2020) 2020 (2019) 27.5% 27.2% 27.7% 27.2% 26.3% $(3,686,082) $(3,496,249) $(4,412,052) $(2,596,295) $(2,580,436) 22,055,983 -16.7% 20,793,225 -16.8% 20,745,477 -21.3% 24,148,819 -10.8% 32,728,218 -7.9% 199.8% 198.4% 231.3% 169.9% 169.7% 118 Maricopa County Required Supplementary Information Schedule of the County’s Proportionate Share of Net OPEB Liability (Asset) Cost-Sharing Plans (Continued) June 30, 2024 County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 4.9% $(1,784,004) Arizona State Retirement System Reporting fiscal year (Measurement date) 2018 2017 2016 (2017) (2016) (2015) 5.0% Information not Information not $(2,706,073) available available County’s covered payroll County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll 497,392,855 -0.4% 484,648,435 -0.6% Plan fiduciary net position as a percentage of the total OPEB (asset) 102.0% 104.0% Health Insurance Premium Benefit 2019 (2018) Arizona State Retirement System Reporting fiscal year (Measurement date) 2018 2017 (2017) (2016) Long Term Disability 2019 (2018) County's proportion of the net OPEB liability County’s proportionate share of the net OPEB liability 4.8% $2,501,068 5.0% $1,801,437 County’s covered payroll County’s proportionate share of the net OPEB liability as a percentage of its covered payroll 497,392,855 0.5% 484,648,435 0.4% Plan fiduciary net position as a percentage of the total OPEB liability 78.0% 84.4% Information not available 2015 (2014) Information not available 2016 (2015) 2015 (2014) Information not available Information not available Corrections Officer Retirement Plan—Administrative Office of the Courts Reporting fiscal year (Measurement date) Health Insurance Premium Benefit 2019 (2018) 2018 (2017) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 59.0% $3,031,501 58.6% $3,448,306 County’s covered payroll County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll 70,273,305 4.3% 67,273,479 5.1% Plan fiduciary net position as a percentage of the total OPEB (asset) 67.8% 62.2% Elected Officials Retirement Plan Health Insurance Premium Benefit 2017 (2016) Information not available 2016 (2015) Information not available 2015 (2014) Information not available 2017 (2016) 2016 (2015) 2015 (2014) Information not available Information not available Information not available Elected Officials Retirement Plan Reporting fiscal year (Measurement date) 2019 (2018) 2018 (2017) County's proportion of the net OPEB (asset) County’s proportionate share of the net OPEB (asset) 26.6% $(2,744,218) 26.3% $(2,396,932) County’s covered payroll County’s proportionate share of the net OPEB (asset) as a percentage of its covered payroll 31,666,783 -8.7% 27,453,840 -8.7% Plan fiduciary net position as a percentage of the total OPEB (asset) 177.2% 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, 2024 PSPRS Sheriff Health Insurance Premium Benefit 2024 (2023) 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 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 $ $ 243,944 612,792 $ 256,628 642,497 2021 (2020) $ $ $ 185,032 751,490 (427,235) (943,526) (555,985) (2,057,940) (390,993) 160,898 (356,146) (343,513) (370,022) 75,429 (394,040) 318,659 8,562,794 8,881,453 234,253 8,328,541 8,562,794 (387,914) 8,716,455 8,328,541 (10,772) 8,727,227 8,716,455 (1,440,029) 10,167,256 8,727,227 36,514 36,514 1,255,534 (390,993) 27,491 27,491 (689,438) (356,146) 19,755 19,755 3,842,402 (343,513) 12,205 12,205 178,224 (370,022) 5,848 5,848 740,112 (394,040) (7,700) (12,273) (15,799) (14,494) (12,775) 929,869 16,503,496 (1,002,875) 17,506,371 3,522,600 13,983,771 (181,882) 14,165,653 17,433,365 16,503,496 17,506,371 13,983,771 344,993 13,818,876 1,784 14,165,653 (8,551,912) $ 55,359,714 (7,940,702) $ 192.7% $ 51,125,113 (9,177,830) $ (5,267,316) 210.2% $ -15.5% 51,127,839 $ -18.0% PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2024 2023 2022 (2023) (2022) (2021) $ 263,604 651,631 2020 (2019) (111,644) -15.4% Health Insurance Premium Benefit Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense 204,152 617,144 196.3% County’s net OPEB liability (asset) as a percentage of covered payroll 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) 2023 (2022) Reporting fiscal year (Measurement date) 2022 (2021) 3,256 11,090 $ 3,633 12,394 $ 4,704 16,121 $(5,438,426) 160.4% 162.3% 51,773,513 $53,880,062 -10.2% -10.1% 2021 (2020) $ 5,256 16,463 2020 (2019) $ 5,536 16,634 65,610 (20,871) (59,285) (10,233) (10,992) (13,643) 2,174 (11,790) (11,234) (13,915) (306) (11,908) 66,313 157,589 223,902 (14,460) 172,049 157,589 (49,694) 221,743 172,049 (2,429) 224,172 221,743 (1,036) 225,208 224,172 $ $ $ $ $ 1,186 $ $ 1,524 $ $ 1,665 22,747 (13,643) (12,816) (11,790) 72,298 (11,234) 3,419 (13,915) 14,422 (11,908) (162) (228) (297) (278) (249) 120 Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios Agent Plans (Continued) June 30, 2024 Health Insurance Premium Benefit 2019 (2018) 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 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 2018 (2017) 179,532 730,031 $ 203,633 757,348 39,752 (308,723) (506,183) (308,611) (418,196) 182,644 9,984,612 10,167,256 (394,962) (209,023) 10,193,635 9,984,612 1,783 919,060 1,429,164 (418,196) (13,988) (1) 488,658 13,330,218 1,021,557 12,308,661 13,818,876 13,330,218 (3,651,620) County’s net OPEB liability (asset) as a percentage of covered payroll 52,850,657 $ 133.5% $ 55,883,688 -6.9% -6.0% Plan fiduciary net position Contributions—employer Contributions—employee Net investment income Benefit payments, including refunds of employee contributions Administrative expense 2019 (2018) $ 2018 (2017) 5,741 15,848 $ 5,224 14,545 7,859 (2,199) 1,348 2,096 $ (10,941) 8,449 216,759 225,208 $ (11,263) 19,809 196,950 216,759 $ 637 $ 1,735 18,039 28,292 (10,941) (275) (11,263) (251) 121 2015 (2014) Information not available (3,345,606) 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) 2016 (2015) Information not available (394,962) (12,645) 135.9% $ PSPRS Sheriff Reporting fiscal year (Measurement date) 2017 (2016) Information not available PSPRS Attorney Investigators Reporting fiscal year (Measurement Date) 2017 2016 (2016) (2015) Information not available Information not available 2015 (2014) 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, 2024 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2024 (2023) 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 2023 (2022) County’s net OPEB liability (asset) as a percentage of covered payroll (24,834) 327,969 61,953 266,016 (9,250) 275,266 312,077 303,135 327,969 266,016 (88,175) 4,872,826 $ $ $ 203,968 852,346 224,700 820,808 4,079,047 120.0% $ -3.8% 243,057 831,418 4,041,539 (51,094) 122.8% $ 4,029,625 -1.1% Reporting fiscal year (Measurement date) 2022 (2021) $ $ -1.3% 2021 (2020) $ 278,738 788,668 2020 (2019) $ 207,271 851,107 (840,089) (110,824) (1,690,768) (424,073) 156,759 (368,406) (354,349) (316,218) 162,454 (282,391) 123,220 11,846,208 11,969,428 642,759 11,203,449 11,846,208 (119,963) 11,323,412 11,203,449 640,364 10,683,048 11,323,412 (752,327) 11,435,375 10,683,048 $ $ $ $ $ $ $ $ 1,621,605 (424,073) (829,910) (368,406) 4,818,560 (354,349) 495,897 (316,218) 930,067 (282,391) (22,763) (14,908) (19,833) (19,192) (16,598) 1,174,769 21,188,287 22,363,056 (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 $ (10,393,628) Plan fiduciary net position as a percentage of the total OPEB liability (asset) 186.8% County’s net OPEB liability (asset) as a percentage of covered payroll $ (44,273) 3,930 270,341 995 275,266 (191,102) $ $ $ $ 190.6% -3.6% 2023 (2022) (155,920) 2020 (2019) (509,021) County’s net OPEB liability (asset)—ending (a)–(b) Covered payroll 3,998,660 CORP Detention $ $ 192.4% 2024 (2023) 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) (145,546) -1.8% 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) 8,942 303,135 139.4% $ 2022 (2021) 98,368,264 $ (9,342,079) $ 178.9% $ 100,538,722 -10.6% -9.3% 122 (11,198,062) $ 200.0% $ 102,944,404 -10.9% (6,633,721) $ 158.6% $ 99,862,066 -6.6% (7,113,598) 166.6% $ 92,198,723 -7.7% Maricopa County Required Supplementary Information Schedule of Changes in the County’s Net OPEB Liability (Asset) and Related Ratios Agent Plans (Continued) June 30, 2024 PSPRS Attorney Investigators (continued) Reporting fiscal year (Measurement Date) 2019 (2018) 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) $ 7,460 262,881 18,513 244,368 270,341 262,881 (45,133) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll 2018 (2017) $ 120.0% $ 3,798,904 County’s net OPEB liability (asset) as a percentage of covered payroll $ 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 OPEB liability (asset)—ending (a)–(b) County’s net OPEB liability (asset) as a percentage of covered payroll $ 280,318 906,839 $ (294,249) 589,050 10,846,325 11,435,375 $ (280,215) (1,244,812) 12,091,137 10,846,325 $ 19,113 $ 19,464 1,167,804 1,746,674 (294,249) (17,668) 1 875,001 16,290,567 17,165,568 (280,215) (15,278) 1,470,645 14,819,922 16,290,567 $ 150.1% $ 104,307,731 -5.5% 123 Information not available 2016 (2015) 2015 (2014) Information not available Information not available CORP Detention (continued) Reporting fiscal year (Measurement date) 2017 (2016) (415,167) (1,736,587) Plan fiduciary net position as a percentage of the total OPEB liability (asset) Covered payroll 2018 (2017) (5,730,193) Information not available 3,636,066 (133,617) $ Information not available -1.3% 2019 (2018) 217,141 799,775 2015 (2014) 121.3% -1.2% $ 2016 (2015) (46,122) 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) 2017 (2016) (5,444,242) 150.2% $ 106,256,020 -5.1% Information not available Maricopa County Required Supplementary Information Schedule of County OPEB Contributions June 30, 2024 Reporting fiscal year 2024 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 $ 720,234 720,234 1,054,077 1,054,077 $ $ $ $ $ $ 262,291 262,291 17,011 17,011 $ 253 253 $ $ 236 236 $ 0 0 $ 97,490,774 0.0% 541,868,155 0.5% 1,086,401 1,086,401 1,004,892 1,004,892 $ 309,297 309,297 12,743 12,743 $ $ 344,659 344,659 71,975,534 0.5% 8,252 8,252 $7,366 7,366 $ 1,264 1,264 51,773,513 0.0% $ 0 0 4,041,539 0.0% $ 0 0 $ 102,944,404 0.0% The County was not required and did not contribute to the EORP health insurance premium benefit plan for fiscal years 2024 through 2017. 124 1,671 1,671 $ 4,079,047 0.0% $ 369,810 369,810 $ $ 100,538,722 0.0% $ 69,971,380 0.5% $ 0 0 541,868,155 0.2% 51,127,839 0.0% $ 911,102 911,102 $ $ 146 146 $ 564,459,191 0.2% $ $ 98,368,264 0.0% $ 3,998,660 0.0% $ $ 0.4% $ 4,872,826 0.0% 2,630,535 2,630,535 0.2% 51,125,113 0.0% $ $ 564,459,191 $ $ $ $ 2,178,142 2,178,142 $ 69,847,482 0.4% 55,359,714 0.0% 4,941,177 0.0% $ $ 2020 576,129,027 $ $ $ 576,129,027 0.2% 76,270,536 0.3% 55,120,415 0.0% 1,200,513 1,200,513 $ $ 17,832 17,832 $ 657,265,286 0.1% 81,093,040 0.2% $ 911,366 911,366 $ 175,842 175,842 2021 $ 0.1% 709,077,156 0.1% $ $ 657,265,286 0.1% $ 2022 $ 709,077,156 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) 772,064 772,064 $ 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) 2023 99,862,066 0.0% Maricopa County Required Supplementary Information Schedule of County OPEB Contributions (Continued) June 30, 2024 Reporting fiscal year 2019 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 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 2,112,434 Information not Information not available available $ 497,392,855 484,648,435 0.6% 808,790 $751,326 $667,849 Information not Information not 667,849 available available 525,994 Information not Information not 525,994 available available Information not Information not available available 1,735 Information not Information not 1,735 available available 19,437 Information not Information not 19,437 available available 751,326 $ $ 497,392,855 0.2% 380,835 484,648,435 0.2% $ 380,835 $ 577,671 0.1% $ 577,671 $ $ 71,052,917 70,273,305 67,273,479 0.5% 0.8% 0.8% 5,732 $ 1,377 5,732 $ $ 0 1,377 $ 0 $ 53,880,062 52,850,657 55,883,688 0.0% 0.0% 0.0% 1,855 $ 1,546 1,855 $ $ 2,689,215 2015 0.4% 515,839,976 $ 2,689,215 2,112,434 808,790 $ $ 2016 0.5% $ $ 2017 $ 515,839,976 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) $ 2,331,974 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) 2,331,974 $ 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) 2018 $ 1,546 $ $ 4,029,625 3,798,904 3,636,066 0.0% 0.0% 0.0% 0 $ 19,491 0 $ $ 19,491 $ $ 92,198,723 104,307,731 106,256,020 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 2024 through 2017. 125 Maricopa County Required Supplementary Information Notes to Pension/OPEB Plan Schedules Year Ended June 30, 2024 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 2022 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: 15 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 market value; 80%/120% market corridor PSPRS members with initial membership on or after July 1, 2017: 5-year smoothed market 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 2022 actuarial valuation, the investment rate of return was decreased from 7.3% to 7.2%. In the 2019 actuarial valuation, the investment rate of return was decreased from 7.4% to 7.3%. In the 2017 actuarial valuation, the investment rate of return was decreased from 7.5% to 7.4%. In the 2016 actuarial valuation, the investment rate of return was decreased from 7.85% to 7.5%. In the 2013 actuarial valuation, the investment rate of return was decreased from 8.0% to 7.85%. In the 2017 actuarial valuation, projected salary increases were decreased from 4.0%–8.0% to 3.5%–7.5% 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 2022 actuarial valuation, wage growth was changed from 3.5% to a range of 3.0 – 6.25% for PSPRS and CORP. In the 2017 actuarial valuation, wage growth was decreased from 4% 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, 2024 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, 2024 Condition Rating of Maricopa County Roadway System Percentage of Centerline Miles ≥ 60 FY 2024 79% 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% Percentage of Centerline Miles in Substandard Condition (< 55) FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 4% 4% 13% 3% 4% Comparison of Estimated to Actual Maintenance/Preservation FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Estimated $ 33,159,001 $ 29,587,144 $ 16,909,150 $ 17,771,127 $ 15,171,864 Actual $ 30,959,358 $ 25,383,525 $ 30,078,267 $ 21,800,666 $ 18,345,252 The condition of road pavement is measured and managed using the Maricopa County Department of Transportation (MCDOT) asset management software, Cartegraph Asset Management, which is based on weighted averages of pavement surface distress factors. The Cartegraph Asset Management 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. As a result of the more comprehensive inspection process, beginning in FY 2022 ratings show a decrease in OCI ratings, and 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 at least one-half of the local roads are inspected annually, except in FY 2022, FY 2023, and FY 2024 when all segments were inspected to create a baseline for the new inspection protocols. Condition Rating of Maricopa County Bridge System Percentage of Bridges ≥ 70 Percentage of Bridges ≥ 5 Bridge System Estimated Actual FY 2024 100% FY 2023 100% FY 2022 100% FY 2021 100% FY 2024 $ 8,265,000 $ 3,844,263 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 100% $ $ FY 2020 1,590,000 4,224,795 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 2021, 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 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. 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. 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. 134 Maricopa County Listing of Nonmajor Governmental Funds (Continued) Recorder’s Grants — (Fund 298) Accounts for grant activity administered by the County Recorder. 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. Superior Court Grants — (Fund 238) Grant funds are used for drug enforcement accounting, court appointed special advocates and case processing assistance. 135 Maricopa County Listing of Nonmajor Governmental Funds (Continued) 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. 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, 2024 SPECIAL REVENUE FUNDS Accommodation Schools Adult Adult Air Air Probation Fees Probation Grants Quality Fees Quality Grants ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer 3,171,102 4,246,051 Receivables 859,579 11,998,450 715,815 73,644 Due from other funds Due from other governmental units 40,447 1,030,540 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 3,171,102 $ 4,961,866 $ 900,026 $ 12,072,094 $ 1,030,540 $ 58,852 $ 59,584 $ 11,636 $ 838,875 $ 41,398 LIABILITIES Accounts payable Employee compensation payable 23,047 194,660 36,812 Claims and judgments Accrued liabilities Due to other funds 950,849 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 865,345 1,479 Deposits held for other parties 101,390 Contract retention payable 58,852 Total liabilities 59,584 900,028 1,134,925 1,030,538 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 2,026 617,272 2,026 617,272 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 3,112,250 4,902,282 3,112,250 4,902,282 10,937,169 Committed (2,028) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 3,171,102 $ 4,961,866 138 (617,270) (2,028) $ 900,026 10,937,169 $ 12,072,094 (617,270) $ 1,030,540 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Animal Animal Animal Care Donations Control Grants Control License Cactus Ballpark Operations League Operations ASSETS Cash in bank and on hand $ $ $ 1,980 $ $ Cash and investments held by County Treasurer 50,000 Receivables 94,226 500 449,153 2,071,962 47,551 13,663 85,896 Due from other funds Due from other governmental units 70,844 Inventories 66,534 1,148,851 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 50,500 $ 94,226 $ 636,062 $ 2,085,625 $ 1,234,747 $ 12,295 $ 285,111 $ 54,420 $ 1,148,851 LIABILITIES Accounts payable $ Employee compensation payable 200,441 Claims and judgments Accrued liabilities 26 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 81,931 Deposits held for other parties Contract retention payable 94,226 Total liabilities 485,578 54,420 1,148,851 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 66,534 Restricted 50,500 83,950 2,031,205 85,896 50,500 150,484 2,031,205 85,896 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 50,500 $ 94,226 (continued on next page) 139 $ 636,062 $ 2,085,625 $ 1,234,747 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Check Child Children’s Clerk of Clerk of Enforcement Support Issues the Court The Court Program Enhancement Education Fill The Gap Grants ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer 70,497 1,512,293 Receivables 9,490 8,899 Due from other funds Due from other governmental units 100,251 157,763 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 70,497 $ 1,521,192 $ 9,490 $ 100,251 $ 157,763 LIABILITIES Accounts payable $ $ Employee compensation payable 822 Claims and judgments Accrued liabilities 1,103 $ $ $ 36,597 Due to other funds 62,085 157,763 98,682 157,763 Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable 1,925 Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental 73,050 Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 73,050 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 68,572 1,521,192 9,490 1,569 68,572 1,521,192 9,490 1,569 Committed (73,050) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 70,497 $ (continued on next page) 140 1,521,192 $ 9,490 $ 100,251 (73,050) $ 157,763 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Clerk of the Court Clerk of Conciliation Correctional County Judicial The Court Court Health Attorney Enhancement SRF Fees Grants Fill the Gap ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by County Treasurer Receivables 2,874,328 2,747,824 1,377,253 84,351 303,881 131,311 898 444,671 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 2,958,679 $ 3,051,705 $ $ 31,591 $ 174,115 $ 1,508,564 $ 898 $ 444,671 LIABILITIES Accounts payable Employee compensation payable 5,894 $ $ 42,727 21,097 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 898 Deposits held for other parties Contract retention payable Total liabilities 37,485 216,842 898 21,097 2,921,194 2,834,863 1,508,564 423,574 2,921,194 2,834,863 1,508,564 423,574 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 $ 2,958,679 $ 3,051,705 (continued on next page) 141 $ 1,508,564 $ 898 $ 444,671 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Domestic County County Court Criminal Relations Attorney Attorney Document Justice Mediation Grants RICO Retrieval Enhancement Education ASSETS Cash in bank and on hand $ $ 732,009 $ $ $ Cash and investments held by 10,793,525 County Treasurer Receivables 675,391 674,683 237,992 103,915 518,231 12,851 Due from other funds 1,512,975 Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,512,975 $ 11,525,534 $ $ 450,617 $ 1,897 $ 779,306 $ 1,192,914 $ 250,843 LIABILITIES Accounts payable 74,202 Employee compensation payable $ $ 18,508 11,940 4,072,778 18,508 11,940 7,452,756 760,798 1,180,974 250,843 7,452,756 760,798 1,180,974 250,843 Claims and judgments Accrued liabilities 985,518 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 2,636 Unearned revenue 4,070,881 Deposits held for other parties Contract retention payable 1,512,973 Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 815,871 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 815,871 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted Committed (815,869) Unassigned (815,869) Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 1,512,975 $ 11,525,534 (continued on next page) 142 $ 779,306 $ 1,192,914 $ 250,843 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Educational Supplemental Elections Emancipation Emergency Environmental Program Grants Administration Management Services ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by 2,801,731 County Treasurer 1,221,499 13,846 16,279,427 931,640 Receivables 1,022,301 Due from other funds 3,141,144 Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 3,733,371 $ 1,221,499 $ $ 173,728 $ 13,846 $ 3,141,144 $ 17,301,728 $ 249,758 $ 239,106 LIABILITIES $ Accounts payable 13,704 Employee compensation payable 21,885 337,854 Claims and judgments Accrued liabilities 2,065,166 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 1,047,771 804,334 1,221,499 3,141,143 Deposits held for other parties Contract retention payable 13,704 Total liabilities 576,960 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 2,865,045 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 2,865,045 Total deferred inflows of resources FUND BALANCES Nonspendable 13,846 Restricted 3,719,667 Committed 16,724,768 (2,865,044) Unassigned 3,719,667 Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 3,733,371 13,846 $ 1,221,499 (continued on next page) 143 $ 13,846 (2,865,044) $ 3,141,144 16,724,768 $ 17,301,728 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Expedited Human Inmate Child Flood Services Health Inmate Support Control Grants Services Services ASSETS Cash in bank and on hand $ $ 260 $ $ $ 1,787,531 Cash and investments held by County Treasurer Receivables 452,346 40,194,999 914,279 20,489,500 47,637 2,242,914 5,380 122,298 31,365 1,220,585 Due from other funds 23,876,219 Due from other governmental units 606,898 Inventories 260,114 Miscellaneous Cash and investments held by trustee – restricted Total assets 892 $ 499,983 $ 43,045,963 $ 23,876,219 $ 951,024 $ $ 3,040,621 $ 5,246,965 $ 22,586 $ 23,880,028 LIABILITIES $ Accounts payable 306,522 Employee compensation payable Claims and judgments Accrued liabilities 359,274 719,685 1,896,512 669 21 6,118,583 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 1,050 11,956,370 3,348,862 23,681,192 Deposits held for other parties Contract retention payable Total liabilities 22,586 2,616,218 DEFERRED INFLOWS OF RESOURCES 938,223 Unavailable revenue – property tax 17,596,280 Unavailable revenue – intergovernmental Unavailable revenue - settlements 293,174 Deferred inflows - leases Deferred inflows – public private partnerships 1,231,397 Total deferred inflows of resources 17,596,280 FUND BALANCES 606,898 Nonspendable Restricted 499,983 37,858,806 499,983 38,465,704 260,114 Committed 928,438 21,003,696 928,438 21,263,810 (17,401,253) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 499,983 $ 43,045,963 (continued on next page) 144 (17,401,253) $ 23,876,219 $ 951,024 $ 23,880,028 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Justice Justice Courts Courts Justice Courts Justice Juvenile Judicial Photo Special Reinvestment Probation Enhancement Enforcement Revenue Fund Diversion ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by 5,772,867 County Treasurer 8,226 33,983 Receivables 1,648,402 10,110,124 437,203 59,492 139,112 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 5,806,850 $ $ 11,473 $ 8,226 $ 2,085,605 $ 10,169,616 $ $ 18,211 $ 139,112 LIABILITIES Accounts payable $ 927 Employee compensation payable Claims and judgments 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 12,400 Total liabilities 18,211 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 5,794,450 8,226 2,085,605 10,151,405 139,112 5,794,450 8,226 2,085,605 10,151,405 139,112 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 5,806,850 $ 8,226 (continued on next page) 145 $ 2,085,605 $ 10,169,616 $ 139,112 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Juvenile Lake Juvenile Probation Pleasant Law Probation Special Juvenile Recreation Library Grants Fee Restitution Services Fees ASSETS Cash in bank and on hand $ 62,035 $ $ $ 1,610 $ Cash and investments held by 1,124,484 County Treasurer 1,768,699 194,984 115,341 Receivables 2,935,832 855,763 10,934,388 126,234 Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,186,519 $ 33,998 $ 1,884,040 $ 194,984 $ 13,871,830 $ 981,997 $ 3,518 $ 65,206 $ 39,248 LIABILITIES $ Accounts payable 100,777 Employee compensation payable 40,698 12,369 105,904 51,617 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 699,463 Unearned revenue Deposits held for other parties Contract retention payable 834,238 Total liabilities 3,518 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Unavailable revenue – intergovernmental Unavailable revenue - settlements 880,741 Deferred inflows - leases 9,532,371 Deferred inflows – public private partnerships 10,413,112 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 352,281 1,884,040 191,466 3,352,814 930,380 352,281 1,884,040 191,466 3,352,814 930,380 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 1,186,519 $ 1,884,040 (continued on next page) 146 $ 194,984 $ 13,871,830 $ 981,997 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Library Medical Library District Examiner Officer Safety Palo District Grants Grants Equipment Verde ASSETS Cash in bank and on hand $ 1,800 $ $ $ $ Cash and investments held by 30,133,518 County Treasurer 4,148 161,887 1,082,054 716,268 Receivables 6,582 Due from other funds 766,196 Due from other governmental units 24,999 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 31,617,782 $ $ 1,316,918 $ 24,999 $ 4,148 $ 161,887 $ 1,088,636 $ 11,781 LIABILITIES Accounts payable $ $ 258,641 Employee compensation payable 8,068 1,837,106 Claims and judgments Accrued liabilities 25,000 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 4,148 Unearned revenue Deposits held for other parties Contract retention payable 3,412,665 Total liabilities 25,000 4,148 19,849 DEFERRED INFLOWS OF RESOURCES 363,531 Unavailable revenue – property tax 25,000 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 363,531 Total deferred inflows of resources 25,000 FUND BALANCES Nonspendable 27,841,586 Restricted Committed 161,887 1,068,787 161,887 1,068,787 (25,001) Unassigned 27,841,586 Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 31,617,782 (25,001) $ (continued on next page) 147 24,999 $ 4,148 $ 161,887 $ 1,088,636 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Planning Parks and and Recreation Parks Parks Parks Development Grants Donations Enhancements Souvenir Fees ASSETS Cash in bank and on hand $ $ $ 450 $ $ Cash and investments held by County Treasurer Receivables 592,641 1,684,967 3,487 1,084,579 27,012 47,295,032 3,480,293 Due from other funds 280,604 Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 280,604 $ 596,128 $ $ 2,762 $ 2,769,996 $ 27,012 $ 50,775,325 89,409 $ 1,181 $ 1,678,344 LIABILITIES Accounts payable $ 77,281 Employee compensation payable 989 194,697 Claims and judgments Accrued liabilities 280,604 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 456,796 Deposits held for other parties 97,775 Contract retention payable 280,604 Total liabilities 2,762 166,690 2,170 2,427,612 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 280,604 Unavailable revenue – intergovernmental Unavailable revenue - settlements 978,316 Deferred inflows - leases Deferred inflows – public private partnerships 280,604 Total deferred inflows of resources 978,316 FUND BALANCES Nonspendable 593,366 Restricted 24,842 (280,604) Unassigned (280,604) Total fund balances Total liabilities, deferred inflows of resources, and fund balances 1,624,990 48,347,713 Committed $ 280,604 593,366 $ 148 596,128 1,624,990 $ 2,769,996 24,842 $ 27,012 48,347,713 $ 50,775,325 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Public Defender Public Public Public Probate Fill Defender Defender Health Fees The Gap Grants Training Fees ASSETS Cash in bank and on hand $ $ $ $ $ 8,100 Cash and investments held by County Treasurer Receivables 254,552 1,452,641 26,357 8,750 11,023,979 143,889 9,563,408 458,054 Due from other funds 11,746 Due from other governmental units 138,320 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 280,909 $ 1,461,391 $ 11,035,725 $ 143,889 $ 10,167,882 $ 11,103 $ 4,157 $ 39,577 $ 471,252 LIABILITIES $ Accounts payable 17,018 Employee compensation payable 3,061 70,655 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 11,028,508 Unearned revenue Deposits held for other parties Contract retention payable 28,121 Total liabilities 11,035,726 39,577 541,907 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 11,746 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 11,746 Total deferred inflows of resources FUND BALANCES 138,320 Nonspendable Restricted 280,909 1,433,270 280,909 1,433,270 Committed 104,312 9,487,655 104,312 9,625,975 (11,747) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances (continued on next page) $ 280,909 $ 1,461,391 149 (11,747) $ 11,035,725 $ 143,889 $ 10,167,882 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Public Health Recorders Recorders School School Grants Grants Surcharge Communication Grants ASSETS Cash in bank and on hand $ $ Cash and investments held by $ 1,083,986 County Treasurer Receivables 5,491,626 Due from other funds Due from other governmental units 27,493,142 Inventories 1,144,902 $ $ 1,302,427 1,373,777 223,087 140,101 569,976 2,577,304 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 34,129,670 $ 1,653,962 $ 1,525,514 $ 1,513,878 $ 2,577,304 $ 5,206,101 $ 1,034,596 $ 143,631 $ 50,053 $ 447,881 LIABILITIES Accounts payable 643,827 Employee compensation payable 32,771 10,480 57,984 Claims and judgments Accrued liabilities 3,806,870 Due to other funds 1,304,032 Interest payable Bonds payable Special assessment debt with governmental commitment 17,802,571 619,367 27,459,369 1,653,963 Unavailable revenue – intergovernmental 8,619,709 188,551 1,913,395 Unavailable revenue - settlements 5,491,626 188,551 1,913,395 Unearned revenue 767,408 Deposits held for other parties Contract retention payable Total liabilities 176,402 60,533 2,577,305 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax Deferred inflows - leases Deferred inflows – public private partnerships 14,111,335 Total deferred inflows of resources FUND BALANCES 1,144,902 Nonspendable 1,349,112 Restricted 1,453,345 Committed Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances (continued on next page) $ (8,585,936) (188,552) (7,441,034) (188,552) 34,129,670 $ 150 1,653,962 (1,913,396) 1,349,112 $ 1,525,514 1,453,345 $ 1,513,878 (1,913,396) $ 2,577,304 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Sheriff School Sheriff Sheriff Jail Sheriff Transportation Donations Grants Enhancements Rico ASSETS Cash in bank and on hand $ $ $ 54,115 $ $ 60,000 Cash and investments held by County Treasurer Receivables 599,790 553,834 3,529 3,259 16,100,003 4,347,827 139,901 Due from other funds 1,146,296 Due from other governmental units Inventories 5,089 Miscellaneous Cash and investments held by trustee – restricted Total assets $ 603,319 $ $ 3,161 $ 557,093 $ 17,300,414 $ 4,487,728 $ 65,089 $ 212,433 $ 88,807 $ 2,633 LIABILITIES Accounts payable 206,494 Employee compensation payable Claims and judgments Accrued liabilities 65 2,456 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 16,881,423 Unearned revenue Deposits held for other parties 1,745 Contract retention payable 3,161 Total liabilities 17,300,415 90,552 5,089 4,397,176 60,000 4,397,176 60,000 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 780,954 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 780,954 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 600,158 557,093 600,158 557,093 Committed (780,955) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances (continued on next page) $ 603,319 $ 557,093 151 (780,955) $ 17,300,414 $ 4,487,728 $ 65,089 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Spousal Spur Towing Sheriff Small Maintenance Cross And School Enforcement Ranch Light Impound Service Enhancement Conservation District Street ASSETS Cash in bank and on hand $ $ $ $ 200 $ Cash and investments held by 36,404 County Treasurer 218,014 178,905 385,931 3,468,897 8,600 Receivables Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 36,404 $ 7 $ 218,014 $ 187,505 $ 386,131 $ 3,468,897 $ 6,929 $ 409,052 LIABILITIES Accounts payable $ Employee compensation payable $ 1,298 2,026 3,090 1,305 2,026 10,019 409,052 35,099 215,988 187,505 376,112 3,059,845 35,099 215,988 187,505 376,112 3,059,845 Claims and judgments 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 (continued on next page) $ 36,404 $ 218,014 152 $ 187,505 $ 386,131 $ 3,468,897 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Superior Superior Superior Superior Court Superior Court Court Court Fill Court Judicial Special Building The Gap Grants Enhancement Revenue ASSETS Cash in bank and on hand $ $ 1,378 $ $ $ Cash and investments held by 824,813 County Treasurer 145,313 2,720,046 4,843 Receivables 953,706 4,521,789 47,858 489,042 Due from other funds 100,248 Due from other governmental units 314,458 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 829,656 $ $ 82,405 $ 246,939 $ 3,034,504 $ 1,001,564 $ 5,010,831 $ 123,197 $ 21,222 $ 2,046 LIABILITIES Accounts payable 39,241 Employee compensation payable 59,411 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 2,851,909 Unearned revenue Deposits held for other parties Contract retention payable 82,405 Total liabilities 39,241 3,034,517 21,222 2,046 980,342 5,008,785 980,342 5,008,785 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 153,285 Unavailable revenue – intergovernmental Unavailable revenue - settlements Deferred inflows - leases Deferred inflows – public private partnerships 153,285 Total deferred inflows of resources FUND BALANCES Nonspendable Restricted 747,251 207,698 747,251 207,698 Committed (153,298) Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 829,656 $ 246,939 (continued on next page) 153 (153,298) $ 3,034,504 $ 1,001,564 $ 5,010,831 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Victim Victim Taxpayer Transportation Transportation Compensation Compensation Information Grants Operations Interest Restitution ASSETS Cash in bank and on hand $ $ $ $ $ Cash and investments held by 816,075 County Treasurer 181,366 4,802 Receivables 54,470,852 1,014,693 865,886 847,164 5,951 5,095 Due from other funds 152,749 Due from other governmental units 25,876,372 1,047,610 Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 820,877 $ 334,115 $ 82,241,998 $ $ 12,869,323 $ 1,020,644 $ 870,981 $ 5,875 LIABILITIES Accounts payable $ $ 682,549 Employee compensation payable Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment 334,114 Unearned revenue 5,416,221 Deposits held for other parties Contract retention payable 334,114 Total liabilities 18,968,093 5,875 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 17,577 Unavailable revenue – intergovernmental Unavailable revenue - settlements 50,193 Deferred inflows - leases Deferred inflows – public private partnerships 17,577 Total deferred inflows of resources 50,193 FUND BALANCES 1,047,610 Nonspendable 820,877 Restricted Committed 820,877 Total fund balances (continued on next page) 1,020,644 865,106 63,223,712 1,020,644 865,106 (17,576) Unassigned Total liabilities, deferred inflows of resources, and fund balances 62,176,102 $ 820,877 (17,576) $ 334,115 154 $ 82,241,998 $ 1,020,644 $ 870,981 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 SPECIAL REVENUE FUNDS Victim Waste Waste Location Management Tire Total ASSETS Cash in bank and on hand $ $ $ $ 2,711,468 Cash and investments held by 54,693 County Treasurer Receivables 580,698 3,740,302 355,331,139 122,083 22,022 31,436,756 1,517,505 91,910,629 Due from other funds Due from other governmental units Inventories 3,264,378 Miscellaneous 1,257,039 Cash and investments held by trustee – restricted Total assets 892 $ 54,693 $ 702,781 $ 5,279,829 $ 2,845 $ 551,327 $ 485,912,301 LIABILITIES Accounts payable $ 867 Employee compensation payable $ 37,923,353 6,127,717 1,837,106 1,884 15,758,926 Claims and judgments Accrued liabilities Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue 66,207,521 Deposits held for other parties 9,584,877 103,135 Contract retention payable 2,845 Total liabilities 552,194 137,544,519 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 1,301,754 Unavailable revenue – intergovernmental 33,960,365 Unavailable revenue - settlements 5,491,626 Deferred inflows - leases 2,202,424 9,532,371 Deferred inflows – public private partnerships 52,488,540 Total deferred inflows of resources FUND BALANCES 3,264,378 Nonspendable 54,693 Restricted 699,936 4,727,635 (33,731,579) Unassigned 54,693 Total fund balances Total liabilities, deferred inflows of resources, and fund balances 256,100,950 70,245,493 Committed $ 54,693 699,936 $ 702,781 (continued on next page) 155 $ 4,727,635 295,879,242 5,279,829 $ 485,912,301 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 CAPITAL PROJECT FUNDS DEBT SERVICE FUND Flood County Detention Improvement Debt Total Control Capital Capital Projects Projects ASSETS Cash in bank and on hand $ $ $ $ Cash and investments held by 18,626,692 County Treasurer 18,626,692 97,293,216 47,711,649 Receivables Due from other funds Due from other governmental units Inventories 412,438 Miscellaneous Cash and investments held by trustee – restricted Total assets 17,322,500 $ 35,949,192 17,322,500 $ 35,949,192 $ 97,293,216 $ 48,124,087 $ 29,493 $ 9,313,785 LIABILITIES Accounts payable $ $ Employee compensation payable 5,870,249 Claims and judgments Accrued liabilities Due to other funds Interest payable 422,500 422,500 Bonds payable 16,900,000 16,900,000 17,322,500 17,322,500 18,626,692 18,626,692 18,626,692 18,626,692 Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties Contract retention payable Total liabilities 17,241 3,020,886 46,734 18,204,920 97,246,482 29,919,167 97,246,482 29,919,167 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 (continued on next page) $ 35,949,192 $ 35,949,192 156 $ 97,293,216 $ 48,124,087 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 CAPITAL PROJECT FUNDS Library Sheriff District Mash Special Capital Capital Improvement Technology Capital Improvement Donations Districts Improvement ASSETS Cash in bank and on hand $ $ $ $ Cash and investments held by 1,729,505 County Treasurer 290,262 1,128,263 55,807,094 9,541 Receivables Due from other funds Due from other governmental units Inventories Miscellaneous Cash and investments held by trustee – restricted Total assets $ 1,739,046 $ $ 37,682 $ 290,262 $ 1,128,263 $ 55,807,094 $ 24,518 $ 1,364,106 LIABILITIES Accounts payable 13,128 Employee compensation payable Claims and judgments Accrued liabilities 450 Due to other funds Interest payable Bonds payable Special assessment debt with governmental commitment Unearned revenue Deposits held for other parties 10,388 Contract retention payable 37,682 Total liabilities 24,968 1,387,622 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 1,701,364 Restricted 290,262 1,103,295 54,419,472 Committed Unassigned 1,701,364 Total fund balances Total liabilities, deferred inflows of resources, and fund balances (continued on next page) $ 1,739,046 157 290,262 $ 290,262 1,103,295 $ 1,128,263 54,419,472 $ 55,807,094 Maricopa County Combining Balance Sheet Nonmajor Governmental Funds (Continued) June 30, 2024 CAPITAL PROJECT FUNDS Total Transportation Nonmajor Capital Governmental Projects Total Funds ASSETS Cash in bank and on hand $ $ $ 2,711,468 Cash and investments held by 54,962,696 County Treasurer Receivables 258,922,685 632,880,516 9,541 31,446,297 Due from other funds 91,910,629 Due from other governmental units 3,264,378 Inventories 412,438 Miscellaneous 1,669,477 Cash and investments held by trustee – restricted Total assets 17,323,392 $ 54,962,696 $ 259,344,664 $ 781,206,157 $ 15,081,563 $ 25,851,147 $ 63,774,500 LIABILITIES Accounts payable Employee compensation payable Claims and judgments Accrued liabilities 13,128 6,140,845 5,870,249 450 7,707,355 2,334 15,758,926 Due to other funds Interest payable 422,500 Bonds payable 16,900,000 Special assessment debt with governmental commitment 66,207,521 Unearned revenue Deposits held for other parties Contract retention payable Total liabilities 8,234,440 8,234,440 4,330,196 7,378,711 17,819,317 7,481,846 27,646,199 47,348,125 202,215,144 DEFERRED INFLOWS OF RESOURCES Unavailable revenue – property tax 1,301,754 Unavailable revenue – intergovernmental 33,960,365 Unavailable revenue - settlements 5,491,626 Deferred inflows - leases 2,202,424 9,532,371 Deferred inflows – public private partnerships 52,488,540 Total deferred inflows of resources FUND BALANCES 3,264,378 Nonspendable 27,316,497 Restricted Committed 157,577,067 413,678,017 54,419,472 143,291,657 (33,731,579) Unassigned 27,316,497 Total fund balances Total liabilities, deferred inflows of resources, and fund balances $ 54,962,696 211,996,539 $ 158 259,344,664 526,502,473 $ 781,206,157 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Adult Probation Fees Accommodation Schools Adult Probation Grants Air Quality Fees Air Quality Grants REVENUES Taxes $ $ $ $ $ 13,814,310 Licenses and permits 6,997,637 Intergovernmental 2,431,167 6,674,418 Charges for services 4,739,248 777 850,375 Settlement revenue 2,042,201 Fines and forfeits 208,378 Special assessment Interest income 49,536 142,771 21,072 670,569 7,047,173 8,859,390 2,453,016 16,001,483 4,739,248 7,785,087 2,381,242 17,833,065 4,409,081 457,851 Miscellaneous Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation 3,984,720 Education Debt service: Principal Interest 240,956 235,499 3,984,720 7,785,087 2,381,242 18,074,021 4,644,580 3,062,453 1,074,303 71,774 (2,072,538) 94,668 Net change in fund balances 3,062,453 1,074,303 71,774 (2,072,538) 94,668 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit) as adjusted Change in nonspendable resources: Increase (decrease) in inventories 49,797 3,827,979 (73,802) 13,009,707 (711,938) 49,797 3,827,979 (73,802) 13,009,707 (711,938) Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 $ 3,112,250 $ 4,902,282 159 $ ($2,028) $ 10,937,169 $ (617,270) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Animal Care Donations Animal Control License/ Shelter Animal Control Grants Cactus League Operations Ballpark Operations REVENUES Taxes $ $ $ $ 6,005,177 Licenses and permits $ 7,544,934 250,000 120,069 Intergovernmental 4,906,982 Charges for services Settlement revenue 2,008 Fines and forfeits Special assessment Interest income Miscellaneous Total revenues 1,980 (30,081) 554,681 57,263 73,329 276,360 323,329 7,821,294 120,775 12,956,234 19,893,599 120,775 12,956,234 (8,952,250) 202,554 (5,134,940) 556,661 120,069 10,941,349 506,454 120,069 19,620,550 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest 273,049 Capital outlay 506,454 Total expenditures Excess (deficiency) of revenues 120,069 50,207 over expenditures OTHER FINANCING SOURCES (USES) 8,686,204 Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) 8,686,204 Total other financing sources (uses) Net change in fund balances 50,207 (266,046) 202,554 (5,134,940) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit) as adjusted Change in nonspendable resources: Increase (decrease) in inventories 293 411,566 1,828,651 5,220,836 Fund balances (deficit), June 30, 2024 4,964 $ 50,500 $ $ 160 150,484 $ 2,031,205 $ 85,896 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Child Support Enhancement Check Enforcement Children’s Issues Education Clerk of Court Fill the Gap Clerk of the Court Grants REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental 1,139,056 Charges for services 30,519 26 1,725,437 5,424 70,444 258 (8,916) 15,649 100,963 284 1,716,521 1,139,056 35,809 1,713,730 1,027,094 35,809 1,713,730 1,027,094 Settlement revenue Fines and forfeits 10,225 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 (20,160) 100,963 284 2,791 111,962 Net change in fund balances (20,160) 100,963 284 2,791 111,962 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 88,732 1,420,229 9,206 (1,222) (185,012) 88,732 1,420,229 9,206 (1,222) (185,012) over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 $ 68,572 $ 1,521,192 161 $ 9,490 $ 1,569 $ (73,050) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Clerk of the Court Judicial Enhancement Clerk of The Court SRF Conciliation Court Fees Coronavirus Relief Fund Correctional Health Grants REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental Charges for services 841,766 3,338,453 1,456,002 139,306 192,239 95,605 Settlement revenue Fines and forfeits Special assessment Interest income 63,155 Miscellaneous Total revenues 6,286,073 981,072 3,593,847 1,551,607 865,943 4,655,075 1,879,606 6,286,073 EXPENDITURES Current: General government Public safety Highways and streets 6,286,073 Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Capital outlay 865,943 4,655,075 1,879,606 115,129 (1,061,228) (327,999) Net change in fund balances 115,129 (1,061,228) (327,999) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 2,806,065 3,896,091 1,836,563 2,894,083 2,806,065 3,896,091 1,836,563 2,894,083 Total expenditures Excess (deficiency) of revenues over expenditures 6,286,073 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 (2,894,083) $ 2,921,194 $ 2,834,863 162 $ 1,508,564 $ $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS County Attorney Fill the Gap County Attorney Grants County Attorney RICO Court Document Retrieval Criminal Justice Enhancement REVENUES Taxes $ $ $ $ $ Licenses and permits 7,827,408 Intergovernmental 954,723 1,301,628 Charges for services 1,163,511 Settlement revenue 1,100,470 Fines and forfeits Special assessment 19,393 Interest income 184,658 35,427 5,200 9,366 Miscellaneous 1,321,021 7,827,408 1,294,494 1,198,938 959,923 1,319,649 8,167,811 353,172 1,159,637 589,722 1,319,649 8,167,811 627,064 1,159,637 589,722 1,372 (340,403) 667,430 39,301 370,201 Net change in fund balances 1,372 (340,403) 667,430 39,301 370,201 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 422,202 (475,466) 6,785,326 721,497 810,773 422,202 (475,466) 6,785,326 721,497 810,773 Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest 273,892 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 $ 423,574 $ (815,869) 163 $ 7,452,756 $ 760,798 $ 1,180,974 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Domestic Relations Mediation Education Educational Supplemental Program Elections Grants Emancipation Administration Emergency Management REVENUES Taxes $ $ $ $ $ Licenses and permits 2,612,829 Intergovernmental 1,688,406 2,314,219 151,103 Charges for services 968 255,538 Settlement revenue Fines and forfeits Special assessment Interest income Miscellaneous Total revenues 6,498 140,660 51,616 360 157,601 2,753,489 1,740,022 1,328 2,569,757 EXPENDITURES Current: 92,035 General government 137,500 Public safety 1,916,427 Highways and streets Health, welfare and sanitation Culture and recreation 2,261,251 Education Debt service: Principal Interest Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 276,510 2,041,683 137,500 2,261,251 368,545 3,958,110 20,101 492,238 1,371,477 1,328 (1,388,353) OTHER FINANCING SOURCES (USES) Transfers in Transfers out (1,371,477) Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) (1,371,477) Total other financing sources (uses) Net change in fund balances 20,101 492,238 1,328 (1,388,353) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 230,742 3,227,429 12,518 (1,476,691) 230,742 3,227,429 12,518 (1,476,691) Fund balances (deficit), June 30, 2024 $ 250,843 $ 3,719,667 164 $ $ 13,846 $ (2,865,044) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Environmental Services Environmental Health Expedited Child Support Flood Control Grants Flood Control Human Services Grants REVENUES Taxes $ $ $ 17,884,110 Licenses and permits 76,677,757 $ 209,780 Intergovernmental 6,384,341 Charges for services $ 784,025 531,717 10,042 60,630,029 27,110 Settlement revenue 457,539 Fines and forfeits Special assessment 909,286 Interest income 31,659 7,196,065 20,340 Miscellaneous 25,655,616 Total revenues 302,324 1,109,580 3,341 563,376 86,004,317 10,042 549,756 38,963,464 10,042 60,935,694 EXPENDITURES Current: General government Public safety Highways and streets 26,398,041 Health, welfare and sanitation 67,188,099 Culture and recreation Education Debt service: 1,396,068 Principal 508,519 Interest 5,145,553 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 7,799,986 31,543,594 549,756 46,763,450 (5,887,978) 13,620 39,240,867 1,505,409 10,042 70,598,095 (9,662,401) OTHER FINANCING SOURCES (USES) 54,563 Transfers in 1,991,315 (39,008,044) Transfers out Financed purchase agreements Lease agreements 5,145,553 1,242,848 1,115,414 Total other financing sources (uses) 5,200,116 (37,765,196) 3,106,729 Net change in fund balances (687,862) 13,620 1,475,671 (6,555,672) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 17,412,630 486,363 36,981,419 (10,845,581) 17,412,630 486,363 36,981,419 (10,845,581) Subscription-based IT arrangements (SBITA) Fund balances (deficit), June 30, 2024 8,614 $ 16,724,768 $ 499,983 165 $ 38,465,704 $ $ (17,401,253) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Inmate Health Services Justice Courts Judicial Enhancement Inmate Services Justice Courts Photo Enforcement Justice Courts Special Revenue REVENUES Taxes $ $ $ $ Licenses and permits Intergovernmental 361,951 Charges for services 14,443,030 6,952,891 Settlement revenue 716,833 Fines and forfeits Special assessment 53,380 Interest income 893,951 248,526 57,106 14,428 Miscellaneous Total revenues 415,331 15,351,409 965,359 7,009,997 390,360 13,167,174 261,911 6,495,690 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest 115,367 18,103 4,522 505,727 13,185,277 266,433 6,495,690 (90,396) 2,166,132 698,926 514,307 Net change in fund balances (90,396) 2,166,132 698,926 514,307 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 1,018,834 19,014,882 5,095,524 8,226 1,571,298 1,018,834 19,014,882 5,095,524 8,226 1,571,298 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 82,796 $ 928,438 $ 21,263,810 166 $ 5,794,450 $ 8,226 $ 2,085,605 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Justice Reinvestment Fund Juvenile Probation Special Fee Juvenile Probation Grants Juvenile Probation Juvenile Restitution REVENUES Taxes $ $ $ $ $ Licenses and permits 3,334,869 Intergovernmental 3,910,851 12,336 Charges for services 73,732 Settlement revenue 2,030,680 Fines and forfeits Special assessment 300,935 Interest income 3,846 24,195 71,083 4,961 21,028 3,935,046 2,175,495 5,081 27,251 3,910,046 1,811,232 27,928 306,857 27,251 3,910,046 1,811,232 27,928 3,328,947 (6,223) 25,000 364,263 (22,847) 4,846 Miscellaneous 3,635,804 Total revenues 120 EXPENDITURES Current: General government Public safety Highways and streets 306,857 Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) 25,000 Transfers in (25,000) Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) (25,000) Total other financing sources (uses) Net change in fund balances 3,328,947 (6,223) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 6,822,458 145,335 6,822,458 145,335 Fund balances (deficit), June 30, 2024 $ 10,151,405 $ 139,112 167 $ 25,000 364,263 2,153 352,281 1,519,777 189,313 352,281 1,519,777 189,313 352,281 $ 1,884,040 $ 191,466 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Lake Pleasant Recreation Law Library Library District Grants Library District Medical Examiner REVENUES Taxes $ $ $ 26,411,611 $ $ Licenses and permits 424,512 Intergovernmental 4,577,358 Charges for services 1,505,532 344,637 193,801 6,238,966 Settlement revenue 195,335 Fines and forfeits Special assessment 177,757 Interest income 51,740 1,244,407 30,843 Miscellaneous 4,785,958 Total revenues 4,148 362,913 1,557,272 34,877,744 344,637 32,994,380 25,000 197,949 EXPENDITURES Current: General government 1,181,451 Public safety Highways and streets 7,480 Health, welfare and sanitation 4,348,166 Culture and recreation Education Debt service: Principal Interest 532,554 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 65,459 190,469 4,880,720 1,181,451 33,059,839 25,000 (94,762) 375,821 1,817,905 319,637 197,949 OTHER FINANCING SOURCES (USES) 319,637 Transfers in (500,000) Transfers out (319,637) Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) (500,000) 319,637 (94,762) (124,179) 2,137,542 3,447,576 1,054,559 25,704,044 (25,001) 3,447,576 1,054,559 25,704,044 (25,001) Total other financing sources (uses) Net change in fund balances Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories Fund balances (deficit), June 30, 2024 $ 3,352,814 $ 930,380 168 $ 27,841,586 (319,637) $ (25,001) $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Non Departmental Grants Officer Safety Equipment Opioid Abatement Parks and Recreation Grants Palo Verde REVENUES Taxes $ $ $ $ Licenses and permits 2,478,714 Intergovernmental 862,785 357,098 Charges for services Settlement revenue 43,666 Fines and forfeits Special assessment 3,347 45,829 47,013 908,614 Interest income Miscellaneous 2,478,714 Total revenues 357,098 EXPENDITURES Current: 2,478,714 General government 862,783 Public safety Highways and streets Health, welfare and sanitation 108,977 Culture and recreation Education Debt service: Principal Interest 345,960 Capital outlay 2,478,714 862,783 454,937 47,013 45,831 (97,839) Net change in fund balances 47,013 45,831 (97,839) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 114,874 1,022,956 (182,765) 1,022,956 (182,765) Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 10,407,542 (10,407,542) 114,874 $ $ 161,887 169 $ 1,068,787 $ (280,604) Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Parks Donations Parks Enhancement Parks Souvenir Planning and Development Fees Pension Reserve REVENUES Taxes $ $ $ $ $ 12,408,194 Licenses and permits Intergovernmental 7,443,660 Charges for services 305,191 11,528,938 Settlement revenue 132,301 Fines and forfeits Special assessment Interest income Miscellaneous Total revenues 27,231 148,852 38,463 57,871 65,694 7,650,383 987 8,205,750 2,160,229 306,178 8,205,750 26,259,443 190,000,000 18,521,075 29,781 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation 22,248 7,728,989 306,137 22,248 8,434,809 306,137 190,000,000 21,506,972 43,446 (784,426) 41 (181,794,250) 4,752,471 Education Debt service: Principal Interest 705,820 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 2,985,897 OTHER FINANCING SOURCES (USES) Transfers in (5,695,061) Transfers out Financed purchase agreements Lease agreements 2,892,050 Subscription-based IT arrangements (SBITA) Total other financing sources (uses) (5,695,061) 2,892,050 Net change in fund balances 43,446 (784,426) 41 (187,489,311) 7,644,521 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 549,920 2,409,416 24,801 187,489,311 40,703,192 549,920 2,409,416 24,801 187,489,311 40,703,192 Fund balances (deficit), June 30, 2024 $ 593,366 $ 1,624,990 170 $ 24,842 $ $ 48,347,713 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Public Defender Fill the Gap Probate Fees Public Defender Grants Public Defender Training Public Health Fees REVENUES Taxes $ $ $ $ $ Licenses and permits 1,846,872 Intergovernmental Charges for services 391,629 1,285,582 6,501 70,223 126,177 11,046,246 Settlement revenue Fines and forfeits Special assessment Interest income Miscellaneous Total revenues 304,186 3,257 446,616 1,820 4,607 11,497,469 398,130 1,355,805 2,151,058 131,254 359,315 1,235,579 2,162,805 150,916 EXPENDITURES Current: General government Public safety Highways and streets 10,447,860 Health, welfare and sanitation Culture and recreation Education Debt service: 204,017 Principal 54,725 Interest 368,129 Capital outlay 359,315 1,235,579 2,162,805 150,916 11,074,731 38,815 120,226 (11,747) (19,662) 422,738 Net change in fund balances 38,815 120,226 (11,747) (19,662) 422,738 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 242,094 1,313,044 123,974 9,954,513 242,094 1,313,044 123,974 9,954,513 Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 (751,276) $ 280,909 $ 1,433,270 171 $ (11,747) $ 104,312 $ 9,625,975 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Public Health Grants Recorder’s Grants Recorder’s Surcharge School Communication Expense School Grants School Transportation REVENUES Taxes $ $ $ $ $ $ Licenses and permits Intergovernmental 92,888,466 1,803,029 511,766 Charges for services Settlement revenue 4,194,706 29,776 2,802,028 1,180,830 51,209 70,249 (21,779) 1,854,238 2,872,277 1,670,817 4,194,706 41,829 3,414,267 2,477,972 1,406,099 4,827,735 15,822 13,126,858 Fines and forfeits Special assessment Interest income 12,053 23,000 Miscellaneous 106,038,324 Total revenues EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation 87,533,149 Culture and recreation Education Debt service: Principal 69,793 Interest 34,329 67,634 Capital outlay Total expenditures 87,704,905 3,414,267 2,477,972 1,406,099 4,827,735 15,822 18,333,419 (1,560,029) 394,305 264,718 (633,029) 26,007 394,305 264,718 (633,029) 26,007 Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in 1,371,477 Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) 1,371,477 Total other financing sources (uses) Net change in fund balances 18,333,419 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories (26,400,931) 954,807 1,188,627 (1,280,367) 574,151 (26,400,931) 954,807 1,188,627 (1,280,367) 574,151 Fund balances (deficit), June 30, 2024 (188,552) 626,478 $ (7,441,034) $ (188,552) 172 $ 1,349,112 $ 1,453,345 $ (1,913,396) $ 600,158 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Sheriff Donations Sheriff Jail Enhancement Sheriff Grants Sheriff Towing and Impound Sheriff RICO REVENUES Taxes $ $ $ $ $ Licenses and permits 13,770,171 Intergovernmental 1,074,458 Charges for services Settlement revenue 1,072 Fines and forfeits 111,144 Special assessment 25,233 Interest income 415,812 183,674 478 21,655 Miscellaneous 56,381 47,960 Total revenues 14,185,983 1,258,132 111,144 56,859 12,790,900 548,661 111,144 50,001 111,144 50,001 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal Interest 1,415,769 8,128 14,206,669 556,789 47,960 (20,686) 701,343 6,858 Net change in fund balances 47,960 (20,686) 701,343 6,858 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 509,133 (760,269) 3,695,833 60,000 28,241 509,133 (760,269) 3,695,833 60,000 28,241 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 $ 557,093 $ (780,955) 173 $ 4,397,176 $ 60,000 $ 35,099 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Spousal Maintenance Enforcement Enhancement Small School Service Spur Cross Ranch Conservation Superior Court Building Repair Street Lighting District REVENUES Taxes $ $ $ $ $ Licenses and permits 109,657 Intergovernmental 102,237 311,994 6,628 5,784 10,439 92,868 22,927 116,285 108,021 322,433 5,443,624 22,927 5,141,696 253,868 Charges for services Settlement revenue Fines and forfeits 5,350,756 Special assessment Interest income Miscellaneous Total revenues EXPENDITURES Current: General government 121,605 Public safety Highways and streets Health, welfare and sanitation 319,259 Culture and recreation 119,709 Education Debt service: Principal Interest Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 119,709 121,605 319,259 5,141,696 253,868 (3,424) (13,584) 3,174 301,928 (230,941) OTHER FINANCING SOURCES (USES) 500,000 Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) 500,000 Total other financing sources (uses) Net change in fund balances (3,424) (13,584) 3,174 301,928 269,059 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 219,412 201,089 372,938 2,757,917 478,192 219,412 201,089 372,938 2,757,917 478,192 Fund balances (deficit), June 30, 2024 $ 215,988 $ 187,505 174 $ 376,112 $ 3,059,845 $ 747,251 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Superior Court Fill the Gap Superior Court Judicial Enhancement Superior Court Grants Superior Court Special Revenue Taxpayer Information REVENUES Taxes $ $ $ $ $ Licenses and permits Intergovernmental 3,652,947 Charges for services 1,725,437 1,380,026 517,044 5,539,962 122,583 1,109 80,969 16,000 46,817 190,122 18,111 27,529 1,726,546 5,129,942 563,861 5,748,195 150,112 1,498,751 5,253,416 498,821 4,685,228 1,498,751 5,253,416 498,821 4,685,228 227,795 (123,474) 65,040 1,062,967 150,112 Net change in fund balances 227,795 (123,474) 65,040 1,062,967 150,112 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories (20,097) (29,824) 915,302 3,945,818 670,765 (20,097) (29,824) 915,302 3,945,818 670,765 Settlement revenue 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 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Fund balances (deficit), June 30, 2024 $ 207,698 $ (153,298) 175 $ 980,342 $ 5,008,785 $ 820,877 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Transportation Grants Victim Compensation Interest Transportation Operations Victim Compensation Restitution Victim Location REVENUES Taxes $ $ $ $ $ 4,978,413 Licenses and permits 1,448,147 Intergovernmental 152,098,424 82,004 Charges for services Settlement revenue 242,422 Fines and forfeits Special assessment 4,893,549 Interest income 82,672 28,311 13,305 82,672 270,733 13,305 2,805 4,480 1,758,660 Miscellaneous Total revenues 1,448,147 163,811,050 1,425,941 90,417,916 EXPENDITURES Current: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal 162,000 Interest 9,245,877 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 1,425,941 99,825,793 2,805 4,480 22,206 63,985,257 79,867 266,253 13,305 OTHER FINANCING SOURCES (USES) Transfers in 60,109 (70,146,030) Transfers out Financed purchase agreements Lease agreements 2,060,375 Subscription-based IT arrangements (SBITA) (68,025,546) Total other financing sources (uses) Net change in fund balances 22,206 (4,040,289) 79,867 266,253 13,305 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories (39,782) 67,210,965 940,777 598,853 41,388 (39,782) 67,210,965 940,777 598,853 41,388 Fund balances (deficit), June 30, 2024 53,036 $ (17,576) $ 63,223,712 176 $ 1,020,644 $ 865,106 $ 54,693 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 SPECIAL REVENUE FUNDS Waste Management Waste Tire DEBT SERVICE FUNDS County Improvement Debt Total Pledged Revenue Debt REVENUES Taxes $ $ $ 110,634,302 $ $ 56,124,229 Licenses and permits 6,490,998 Intergovernmental 383,627,474 Charges for services 109,571,858 Settlement revenue 13,126,858 Fines and forfeits 7,294,274 5,350,756 Special assessment 29,186 Interest income 118,445 31,529,674 120,886 Miscellaneous 150,072 Total revenues 4,023,043 11,239,728 4,023,043 11,239,728 11,122,035 6,609,443 728,381,460 EXPENDITURES Current: 8,462,988 General government 345,037,658 Public safety 91,843,857 Highways and streets 116,512 Health, welfare and sanitation 5,199,994 245,973,284 Culture and recreation 58,930,165 Education 12,615,336 Debt service: Principal 1,831,878 100,072,957 251,755,000 Interest 597,573 1,439,814 2,580,489 33,862,225 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 116,512 5,199,994 799,154,964 101,512,771 254,335,489 33,560 1,409,449 (70,773,504) (97,489,728) (243,095,761) OTHER FINANCING SOURCES (USES) Transfers in 13,008,305 36,365,663 Transfers out (117,065,249) (7,309,150) (7,666,682) (91,600,704) 29,056,513 (7,666,682) Financed purchase agreements Lease agreements 12,456,240 Subscription-based IT arrangements (SBITA) Total other financing sources (uses) Net change in fund balances 33,560 1,409,449 (162,374,208) (68,433,215) (250,762,443) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 666,376 3,318,186 87,059,907 250,762,443 666,376 3,318,186 471,530,463 (10,407,542) 461,122,921 87,059,907 250,762,443 Fund balances (deficit), June 30, 2024 (2,869,471) $ 699,936 $ 4,727,635 177 $ 295,879,242 $ 18,626,692 $ Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 DEBT SERVICE CAPITAL PROJECT FUNDS Detention Technology Capital Improvement Detention Capital Projects Total Flood Control Capital Projects Library District Capital Improvement Sheriff Mash Capital Donation REVENUES Taxes $ $ $ $ $ $ Licenses and permits 12,248,878 Intergovernmental Charges for services Settlement revenue Fines and forfeits Special assessment 15,262,771 Interest income Miscellaneous 15,262,771 Total revenues 12,248,878 587,997 7,906 587,997 7,906 EXPENDITURES Current: General government 5,870,249 Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Debt service: Principal 351,827,957 Interest 4,020,303 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 875,972 98,164,163 9,099,712 355,848,260 875,972 104,034,412 9,099,712 (340,585,489) (875,972) (91,785,534) (8,511,715) 7,906 OTHER FINANCING SOURCES (USES) Transfers in 36,365,663 35,911,508 Transfers out (14,975,832) (2,015,760) (2,830) 39,008,044 Total other financing sources (uses) 21,389,831 33,895,748 (2,830) 39,008,044 Net change in fund balances (319,195,658) 33,019,776 (2,830) (52,777,490) (8,511,715) 7,906 Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 337,822,350 64,226,706 2,830 82,696,657 10,213,079 282,356 337,822,350 64,226,706 2,830 82,696,657 10,213,079 282,356 Financed purchase agreements Lease agreements Subscription-based IT arrangements (SBITA) Fund balances (deficit), June 30, 2024 $ 18,626,692 $ 97,246,482 178 $ $ 29,919,167 $ 1,701,364 $ 290,262 Maricopa County Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds (Continued) Year Ended June 30, 2024 CAPITAL PROJECT FUNDS Special Improvement Districts Technology Capital Improvement Transportation Capital Projects Total Nonmajor Governmental Funds Total REVENUES Taxes $ 192,171 $ $ $ 192,171 $ 110,826,473 56,124,229 Licenses and permits Intergovernmental 30,520,554 42,769,432 426,396,906 Charges for services 5,339,057 5,339,057 114,910,915 Settlement revenue 13,126,858 Fines and forfeits 7,294,274 5,350,756 Special assessment 29,944 Interest income Miscellaneous Total revenues 625,847 47,418,292 67,244 254,807 322,051 11,444,086 289,359 36,114,418 49,248,558 792,892,789 5,870,249 350,907,907 EXPENDITURES Current: 8,462,988 General government Public safety Highways and streets 91,843,857 Health, welfare and sanitation 245,973,284 Culture and recreation 58,930,165 Education 12,615,336 Debt service: 353,659,835 Principal 4,617,876 Interest 277,563 12,911,609 114,939,132 236,268,151 270,130,376 277,563 12,911,609 114,939,132 242,138,400 1,397,141,624 11,796 (12,911,609) (78,824,714) (192,889,842) (604,248,835) Transfers in 11,330,924 70,142,532 Transfers out (25,842,555) Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES) 156,393,008 205,766,976 (27,861,145) (159,902,226) Financed purchase agreements Lease agreements 12,456,240 Subscription-based IT arrangements (SBITA) Total other financing sources (uses) (14,511,631) 70,142,532 128,531,863 58,320,990 Net change in fund balances 11,796 (27,423,240) (8,682,182) (64,357,979) (545,927,845) Fund balances (deficit), July 1, 2023 Change within financial reporting entity Fund balances (deficit), as adjusted Change in nonspendable resources: Increase (decrease) in inventories 1,091,499 81,842,712 35,998,679 276,354,518 1,091,499 81,842,712 35,998,679 276,354,518 1,085,707,331 (10,407,542) 1,075,299,789 Fund balances (deficit), June 30, 2024 (2,869,471) $ 1,103,295 $ 54,419,472 179 $ 27,316,497 $ 211,996,539 $ 526,502,473 180 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 5,752,602 $ 5,752,591 $ 6,674,418 $ 921,827 Fines and forfeits 2,063,682 2,063,688 2,042,201 (21,487) Interest income 21,391 7,837,675 21,396 7,837,675 142,771 8,859,390 121,375 1,021,715 8,237,675 8,437,675 7,785,087 652,588 Total expenditures 400,000 8,637,675 200,000 8,637,675 7,785,087 200,000 852,588 Excess (deficiency) of revenues over expenditures (800,000) (800,000) 1,074,303 1,874,303 (800,000) (800,000) 1,074,303 1,874,303 3,305,365 2,505,365 3,305,365 2,505,365 3,827,979 4,902,282 Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 181 $ $ $ 522,614 2,396,917 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Intergovernmental 777 $ 777 21,072 21,072 2,972,917 2,972,917 2,544,237 2,544,237 2,431,167 2,453,016 (113,070) (91,221) Total expenditures 3,450,648 3,450,648 3,370,425 3,370,425 2,381,242 2,381,242 989,183 989,183 Excess (deficiency) of revenues over expenditures (477,731) (826,188) 71,774 897,962 Net change in fund balances (477,731) (826,188) 71,774 897,962 (43,026) (520,757) (43,026) (869,214) (73,802) (2,028) (30,776) 867,186 Total revenues EXPENDITURES Current: Public Safety Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ 182 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines & forfeit 686,600 $ 229,000 Interest income 686,604 $ 228,996 850,375 $ 163,771 208,378 (20,618) 97,400 97,404 670,569 573,165 13,160,700 26,300 13,160,692 26,304 13,814,310 457,851 653,618 431,547 14,200,000 14,200,000 16,001,483 1,801,483 18,777,300 320,000 18,777,308 319,992 17,833,065 240,956 944,243 79,036 Total expenditures 19,097,300 19,097,300 18,074,021 1,023,279 Deficiency of revenues under expenditures (4,897,300) (4,897,300) (2,072,538) 2,824,762 Net change in fund balances (4,897,300) (4,897,300) (2,072,538) 2,824,762 Licenses and permits Miscellaneous Total revenues EXPENDITURES Current: Health welfare and sanitation Capital outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 11,981,751 $ 7,084,451 183 11,981,751 $ 7,084,451 13,009,707 $ 10,937,169 1,027,956 $ 3,852,718 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 5,622,283 $ 5,622,283 $ 4,739,248 $ (883,035) 5,622,283 5,622,283 4,739,248 (883,035) 5,510,283 112,000 5,510,275 112,008 4,409,081 235,499 1,101,194 (123,491) 5,622,283 5,622,283 4,644,580 977,703 94,668 94,668 EXPENDITURES Current: Health welfare and sanitation Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2023 Fund balance (deficit), June 30, 2024 $ 456,603 456,603 184 $ 456,603 456,603 $ 94,668 94,668 (711,938) (617,270) (1,168,541) (1,073,873) $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 304,100 $ 564,004 1,980 554,681 304,100 564,004 556,661 (7,343) 304,100 564,004 506,454 57,550 304,100 564,004 506,454 57,550 Excess of revenues over expenditures 50,207 50,207 Net change in fund balances 50,207 50,207 Miscellaneous Total revenues $ $ 1,980 (9,323) EXPENDITURES Current: Health welfare and sanitation Total expenditures Fund balance, July 1, 2023 Fund balance, June 30, 2024 53,014 53,014 $ 185 $ 53,014 53,014 $ 293 50,500 $ (52,721) (2,514) 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ $ Total revenues 277,000 277,000 $ 120,069 120,069 $ (156,931) (156,931) EXPENDITURES Current: Health welfare and sanitation 277,000 277,000 Total expenditures 120,069 120,069 156,931 156,931 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 74,075 74,075 $ 186 $ 74,075 74,075 $ $ (74,075) (74,075) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 5,852,912 Fines & forfeit $ 3,200 5,852,912 $ 3,200 Interest income Licenses and permits 4,906,982 $ (945,930) 2,008 (1,192) (30,081) (30,081) 7,345,690 140,000 7,345,690 140,000 6,005,177 57,263 (1,340,513) (82,737) 13,341,802 13,341,802 10,941,349 (2,400,453) 22,028,026 22,028,026 19,620,550 2,407,476 Total expenditures 22,028,026 350,000 22,378,026 273,049 19,893,599 76,951 2,484,427 Deficiency of revenues under expenditures (8,686,224) (9,036,224) (8,952,250) 83,974 8,686,224 8,686,224 8,686,224 8,686,224 8,686,204 8,686,204 20 20 (350,000) (266,046) 83,954 470,094 411,566 (58,528) 120,094 4,964 150,484 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, 2023 470,094 Increase in inventories Fund balance, June 30, 2024 $ 470,094 187 $ $ $ 4,964 30,390 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Ballpark Operations Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Licenses and permits Total revenues $ 73,329 $ 73,329 250,000 250,000 250,000 250,000 250,000 323,329 73,329 250,000 250,000 350,000 350,000 120,775 120,775 229,225 229,225 (100,000) 202,554 302,554 (100,000) 202,554 302,554 1,864,706 1,764,706 1,828,651 2,031,205 EXPENDITURES Current: Culture and recreation Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 1,864,706 1,864,706 188 $ $ $ (36,055) 266,499 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Cactus League Operations– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ Taxes $ $ 276,360 $ 276,360 7,250,000 7,250,000 9,250,000 9,250,000 7,544,934 7,821,294 (1,705,066) (1,428,706) Culture and recreation 7,250,000 14,650,000 12,956,234 1,693,766 Total expenditures 7,250,000 14,650,000 12,956,234 1,693,766 (5,400,000) (5,134,940) 265,060 (5,400,000) (5,134,940) 265,060 5,361,851 (38,149) 5,220,836 85,896 (141,015) 124,045 Total revenues EXPENDITURES Current: Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 5,361,851 5,361,851 189 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Check Enforcement Program– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ 29,500 Interest income $ 29,500 $ 10,225 $ (19,275) 2,500 32,000 2,500 32,000 5,424 15,649 2,924 (16,351) Total expenditures 62,360 62,360 62,360 62,360 35,809 35,809 26,551 26,551 Deficiency of revenues under expenditures (30,360) (30,360) (20,160) 10,200 Net change in fund balances (30,360) (30,360) (20,160) 10,200 44,947 14,587 44,947 14,587 88,732 68,572 Total revenues EXPENDITURES Current: Public Safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 190 $ $ $ 43,785 53,985 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Child Support Enhancement– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 31,000 $ 31,000 $ Interest Income 30,519 $ 70,444 100,963 (481) 70,444 69,963 31,000 31,000 Total expenditures 500,000 500,000 500,000 500,000 Excess (deficiency) of revenues over expenditures (469,000) (469,000) 100,963 569,963 Net change in fund balances (469,000) (469,000) 100,963 569,963 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 1,476,949 1,007,949 191 $ 1,476,949 1,007,949 500,000 500,000 $ 1,420,229 1,521,192 $ (56,720) 513,243 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court Fill the Gap– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,808,927 $ Interest income Total revenues 1,725,258 $ 1,725,437 $ 179 1,808,927 179 1,725,437 (8,916) 1,716,521 (9,095) (8,916) 1,808,927 1,808,927 1,725,437 1,725,437 1,713,730 1,713,730 11,707 11,707 2,791 2,791 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances 2,791 2,791 Fund balance (deficit), July 1, 2023 (1,222) 1,569 (1,222) 1,569 Fund balance, June 30, 2024 $ $ 192 $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental Total revenues $ 1,418,417 1,418,417 $ 1,418,417 1,418,417 $ 1,139,056 1,139,056 $ (279,361) (279,361) EXPENDITURES Current: Public safety 1,418,417 1,418,417 Total expenditures 1,418,417 1,418,417 Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ (87,506) (87,506) 193 $ (87,506) (87,506) $ 1,027,094 1,027,094 391,323 391,323 111,962 111,962 111,962 111,962 (185,012) (73,050) $ (97,506) 14,456 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 780,000 $ 780,000 $ Interest income Total revenues 841,766 $ 61,766 780,000 780,000 139,306 981,072 139,306 201,072 1,992,000 1,992,000 1,992,000 1,992,000 865,943 865,943 1,126,057 1,126,057 (1,212,000) (1,212,000) 115,129 1,327,129 (1,212,000) (1,212,000) 115,129 1,327,129 2,622,048 1,410,048 2,622,048 1,410,048 2,806,065 2,921,194 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 194 $ $ $ 184,017 1,511,146 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Clerk of the Court Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 3,070,000 $ 3,070,000 $ Interest income Miscellaneous Total revenues 3,338,453 $ 268,453 75,000 75,000 192,239 63,155 192,239 (11,845) 3,145,000 3,145,000 3,593,847 448,847 EXPENDITURES Current: 5,873,000 5,873,000 4,655,075 1,217,925 Total expenditures 5,873,000 5,873,000 4,655,075 1,217,925 Deficiency of revenues under expenditures (2,728,000) (2,728,000) (1,061,228) 1,666,772 Net change in fund balances (2,728,000) (2,728,000) (1,061,228) 1,666,772 3,732,512 1,004,512 3,732,512 1,004,512 3,896,091 2,834,863 Public Safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 195 $ $ $ 163,579 1,830,351 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,581,972 1,390 Interest income Total revenues $ 1,581,972 1,390 $ 1,456,002 95,605 $ (125,970) 94,215 1,583,362 1,583,362 1,551,607 (31,755) EXPENDITURES Current: 2,083,362 2,083,362 1,879,606 203,756 Total expenditures 2,083,362 2,083,362 1,879,606 203,756 Deficiency of revenues under expenditures (500,000) (500,000) (327,999) 172,001 Net change in fund balances (500,000) (500,000) (327,999) 172,001 Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 1,973,335 1,473,335 $ 196 $ 1,973,335 1,473,335 $ 1,836,563 1,508,564 $ (136,772) 35,229 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, 2024 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 $ 6,286,073 6,286,073 $ (913,927) (913,927) EXPENDITURES Current: Health welfare and sanitation 7,200,000 7,200,000 Total expenditures 7,200,000 7,200,000 6,286,073 6,286,073 913,927 913,927 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 863 863 $ 197 $ 863 863 $ $ (863) (863) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,346,846 $ 1,346,846 $ 1,301,628 $ (45,218) 3,000 1,349,846 3,000 1,349,846 19,393 1,321,021 16,393 (28,825) Total expenditures 1,494,188 1,494,188 1,494,188 1,494,188 1,319,649 1,319,649 174,539 174,539 Excess (deficiency) of revenues over expenditures (144,342) (144,342) 1,372 145,714 Net change in fund balances (144,342) (144,342) 1,372 145,714 411,734 267,392 411,734 267,392 422,202 423,574 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 198 $ $ $ 10,468 156,182 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 6,401,874 6,401,874 $ 8,347,289 8,347,289 $ 7,827,408 7,827,408 $ (519,881) (519,881) EXPENDITURES Current: Public safety 6,401,874 6,401,874 Total expenditures 8,347,289 8,347,289 Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ (1,307,415) (1,307,415) 199 $ (1,307,415) (1,307,415) $ 8,167,811 8,167,811 179,478 179,478 (340,403) (340,403) (340,403) (340,403) (475,466) (815,869) $ 831,949 491,546 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income 1,200,000 $ 1,200,000 $ $ (99,530) 50,000 184,658 134,658 1,250,000 1,250,000 9,366 1,294,494 9,366 44,494 Miscellaneous Total revenues 1,100,470 50,000 EXPENDITURES Current: Public safety 800,000 1,200,000 353,172 846,828 Total expenditures 2,950,000 3,750,000 2,550,000 3,750,000 273,892 627,064 2,276,108 3,122,936 Excess (deficiency) of revenues over expenditures (2,500,000) (2,500,000) 667,430 3,167,430 Net change in fund balances (2,500,000) (2,500,000) 667,430 3,167,430 6,718,075 4,218,075 6,718,075 4,218,075 6,785,326 7,452,756 Capital outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 200 $ $ $ 67,251 3,234,681 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,080,000 $ 1,080,000 $ Interest income Total revenues 1,163,511 $ 83,511 1,080,000 1,080,000 35,427 1,198,938 35,427 118,938 1,599,320 1,599,320 1,599,320 1,599,320 1,159,637 1,159,637 439,683 439,683 (519,320) (519,320) 39,301 558,621 (519,320) (519,320) 39,301 558,621 566,626 47,306 566,626 47,306 721,497 760,798 154,871 713,492 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 201 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues (2,000) 673,000 $ (2,000) 673,000 $ 5,200 954,723 $ 7,200 281,723 671,000 671,000 959,923 288,923 847,435 847,435 589,722 257,713 847,435 847,435 589,722 257,713 (176,435) (176,435) 370,201 546,636 (176,435) (176,435) 370,201 546,636 521,108 344,673 521,108 344,673 810,773 1,180,974 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 202 $ $ $ 289,665 836,301 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 192,996 554 $ 192,996 554 $ 151,103 6,498 $ (41,893) 5,944 193,550 193,550 157,601 (35,949) 193,550 193,550 137,500 56,050 193,550 193,550 137,500 56,050 20,101 20,101 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 212,638 212,638 203 $ 212,638 212,638 $ 20,101 20,101 230,742 250,843 $ 18,104 38,205 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Educational Supplemental Program – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental $ $ 140,660 $ 140,660 278,754 278,754 278,754 278,754 2,612,829 2,753,489 2,334,075 2,474,735 Total expenditures 814,483 814,483 2,276,080 2,276,080 2,261,251 2,261,251 14,829 14,829 Excess (deficiency) of revenues over expenditures (535,729) (1,997,326) 492,238 2,489,564 (535,729) (1,997,326) 492,238 2,489,564 2,174,113 1,638,384 2,174,113 176,787 3,227,429 3,719,667 Total revenues EXPENDITURES Current: Education Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 204 $ $ $ 1,053,316 3,542,880 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Elections Grants Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 2,612,621 $ 1,924,954 $ 51,616 1,688,406 $ 51,616 (236,548) 2,612,621 1,924,954 1,740,022 (184,932) 437,124 2,175,497 837,207 1,087,747 92,035 276,510 745,172 811,237 2,612,621 1,924,954 368,545 1,556,409 1,371,477 1,371,477 EXPENDITURES Current: General government Capital outlay Total expenditures Excess of revenues over expenditures OTHER FINANCING USES Transfers Out (1,371,477) (1,371,477) Total other financing uses Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 2,526,994 2,526,994 205 $ (1,371,477) (1,371,477) (1,371,477) 1,371,477 2,526,994 1,155,517 (2,526,994) (1,155,517) $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Emergency Management Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Intergovernmental Total revenues 263,998 $ 264,000 $ 255,538 $ (8,462) 4,366,096 4,630,094 4,366,094 4,630,094 2,314,219 2,569,757 (2,051,875) (2,060,337) 3,702,971 3,040,116 1,916,427 1,123,689 1,000,000 4,702,971 1,662,855 4,702,971 2,041,683 3,958,110 (378,828) 744,861 (72,877) (72,877) (1,388,353) (1,315,476) (72,877) (72,877) (1,388,353) (1,315,476) (994,492) (1,067,369) (994,492) (1,067,369) (1,476,691) (2,865,044) EXPENDITURES Current: Public safety Capital Outlay Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ 206 $ $ $ (482,199) (1,797,675) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 6,856,224 $ 6,856,224 $ 6,384,341 $ (471,883) Fines & forfeit 267,340 267,340 457,539 190,199 Interest income 229,665 229,665 909,286 679,621 17,163,028 17,163,028 17,884,110 20,340 721,082 20,340 24,516,257 24,516,257 25,655,616 1,139,359 25,879,069 26,479,069 26,398,041 81,028 Total expenditures 25,879,069 26,479,069 26,398,041 81,028 Deficiency of revenues under expenditures (1,362,812) (1,962,812) (742,425) 1,220,387 54,563 54,563 54,563 54,563 Licenses and permits Miscellaneous Total revenues EXPENDITURES Current: Health welfare and sanitation OTHER FINANCING SOURCES Transfer in Total other financing sources Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (1,362,812) (1,908,249) (687,862) 16,849,630 15,486,818 16,849,630 14,941,381 17,412,630 16,724,768 207 $ $ 1,220,387 $ 563,000 1,783,387 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 635,784 $ 635,784 $ 531,717 $ (104,067) 1,716 637,500 1,716 637,500 31,659 563,376 29,943 (74,124) 637,500 637,500 549,756 87,744 637,500 637,500 549,756 87,744 13,620 13,620 13,620 13,620 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 423,988 423,988 208 $ 423,988 423,988 $ 486,363 499,983 $ 62,375 75,995 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ 27,110 $ 27,110 Interest income 1,000,000 1,000,000 7,196,065 Intergovernmental 195,612 232,806 209,780 (23,026) Licenses and permits 675,000 675,000 784,025 109,025 Miscellaneous 6,196,065 219,492 230,968 1,109,580 878,612 76,648,522 78,738,626 76,599,852 78,738,626 76,677,757 86,004,317 77,905 7,265,691 43,186,332 5,546,275 43,098,095 4,349,605 38,963,464 6,557,138 4,134,631 (2,207,533) Total expenditures 48,732,607 47,447,700 45,520,602 1,927,098 Excess of revenues over expenditures 30,006,019 31,290,926 40,483,715 9,192,789 (39,008,044) (39,008,044) (39,008,044) (39,008,044) (39,008,044) (39,008,044) 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, 2023 (9,002,025) (7,717,118) 1,475,671 9,192,789 30,747,719 30,747,719 36,981,419 6,233,700 8,614 8,614 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2024 $ 21,745,694 209 $ 23,030,601 $ 38,465,704 $ 15,435,103 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 20,000 $ 20,000 $ 10,042 $ (9,958) 20,000 20,000 10,042 (9,958) 20,000 20,000 10,042 9,958 20,000 20,000 10,042 9,958 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 13,670 13,670 210 $ 13,670 13,670 $ $ (13,670) (13,670) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental $ $ $ 302,324 82,875,111 60,630,029 (22,245,082) 82,875,111 82,875,111 3,341 60,935,694 3,341 (21,939,417) 84,014,322 84,696,426 67,188,099 17,508,327 1,396,068 (1,396,068) 508,519 (508,519) Miscellaneous Total revenues 302,324 82,875,111 EXPENDITURES Current: Health welfare and sanitation Debt service Debt service interest Capital outlay Total expenditures 170,000 84,184,322 170,000 84,866,426 389,995 69,482,681 (219,995) 15,383,745 Deficiency of revenues under expenditures (1,309,211) (1,991,315) (8,546,987) (6,555,672) 1,309,211 1,309,211 1,991,315 1,991,315 1,991,315 1,991,315 (6,555,672) (6,555,672) 25,388,158 25,388,158 25,388,158 25,388,158 (10,845,581) (17,401,253) (36,233,739) (42,789,411) OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance (deficit), July 1, 2023 Fund balance (deficit), June 30, 2024 $ 211 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 325,000 13,000 $ 325,000 13,000 $ 361,951 53,380 $ 36,951 40,380 338,000 338,000 415,331 77,331 397,524 1,297,524 390,360 907,164 120,000 517,524 120,000 1,417,524 115,367 505,727 4,633 911,797 (179,524) (1,079,524) (90,396) 989,128 (179,524) (1,079,524) (90,396) 989,128 1,057,238 877,714 1,057,238 (22,286) 1,018,834 928,438 EXPENDITURES Current: Public safety Capital outlay Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 212 $ $ $ (38,404) 950,724 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Inmate Services Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 13,860,492 $ 13,860,492 $ $ 582,538 172,632 893,951 14,428 721,319 14,428 14,033,124 14,033,124 15,351,409 1,318,285 14,533,124 14,533,124 13,167,174 18,103 1,365,950 (18,103) 14,533,124 14,533,124 13,185,277 1,347,847 (500,000) (500,000) 2,166,132 2,666,132 Miscellaneous Total revenues 14,443,030 172,632 EXPENDITURES Current: Public safety Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 (500,000) (500,000) 2,166,132 2,666,132 19,805,993 19,805,993 19,014,882 (791,111) Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2024 $ 19,305,993 213 $ 19,305,993 $ 82,796 21,263,810 $ 82,796 1,957,817 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income 729,839 $ 729,839 $ 716,833 $ (13,006) 7,344 737,183 7,344 737,183 248,526 965,359 241,182 228,176 737,183 737,183 261,911 475,272 737,183 4,522 266,433 (4,522) 470,750 Excess of revenues over expenditures 698,926 698,926 Net change in fund balances 698,926 698,926 Total revenues EXPENDITURES Current: Public Safety Capital Outlay 737,183 Total expenditures Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 5,115,097 5,115,097 214 $ 5,115,097 5,115,097 $ 5,095,524 5,794,450 $ (19,573) 679,353 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest Income Total revenues 6,784,801 20,616 $ 6,784,801 20,616 $ 6,952,891 57,106 $ 168,090 36,490 6,805,417 6,805,417 7,009,997 204,580 7,005,417 7,005,417 6,495,690 509,727 7,005,417 7,005,417 6,495,690 509,727 (200,000) (200,000) 514,307 714,307 714,307 EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (200,000) (200,000) 514,307 1,544,038 1,344,038 1,544,038 1,344,038 1,571,298 2,085,605 215 $ $ $ 27,260 741,567 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Justice Reinvestment Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues $ $ 300,935 $ 300,935 3,600,000 3,600,000 3,600,000 3,600,000 3,334,869 3,635,804 (265,131) 35,804 3,600,000 3,600,000 3,600,000 3,600,000 306,857 306,857 3,293,143 3,293,143 3,328,947 3,328,947 EXPENDITURES Current: Health Welfare and Sanitation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 8,045,737 8,045,737 216 $ 8,045,737 8,045,737 $ 3,328,947 3,328,947 6,822,458 10,151,405 (1,223,279) 2,105,668 $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 76,212 $ 76,216 $ 12,336 $ (63,880) Interest income 1,248 1,248 3,846 2,598 Miscellaneous 18,508 95,968 18,504 95,968 4,846 21,028 (13,658) (74,940) 95,968 95,968 95,968 95,968 27,251 27,251 68,717 68,717 (6,223) (6,223) (6,223) (6,223) Total revenues EXPENDITURES Current: Public safety Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 145,736 145,736 217 $ 145,736 145,736 $ 145,335 139,112 $ (401) (6,624) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 12,000 $ 12,000 $ 24,195 $ 12,195 4,059,682 4,071,682 4,091,038 4,103,038 3,910,851 3,935,046 (180,187) (167,992) 4,437,024 4,319,036 3,910,046 408,990 Total expenditures 4,437,024 4,319,036 3,910,046 408,990 Excess (deficiency) of revenues over expenditures (365,342) (215,998) 25,000 240,998 Total other financing uses (15,000) (15,000) (15,000) (15,000) (25,000) (25,000) 10,000 10,000 Net change in fund balances (380,342) (230,998) 320,699 (59,643) 320,699 89,701 Total revenues EXPENDITURES Current: Public safety OTHER FINANCING USES Transfers out Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 218 $ 230,998 $ 352,281 352,281 $ 31,582 262,580 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 150,432 $ 150,432 $ 73,732 $ (76,700) Fines & forfeit 1,652,248 1,652,248 2,030,680 378,432 Interest income 8,568 1,811,248 8,568 1,811,248 71,083 2,175,495 62,515 364,247 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) 364,263 664,263 664,263 Total revenues EXPENDITURES Current: Public Safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (300,000) (300,000) 364,263 1,501,858 1,201,858 1,501,858 1,201,858 1,519,777 1,884,040 219 $ $ $ 17,919 682,182 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Juvenile Restitution Fund – Special Revenue Fund Year Ended June 30, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Miscellaneous Total revenues 4,961 120 $ 4,961 120 5,081 5,081 EXPENDITURES Current: 50,000 50,000 27,928 22,072 Total expenditures 50,000 50,000 27,928 22,072 Deficiency of revenues under expenditures (50,000) (50,000) (22,847) 27,153 15,000 15,000 25,000 (10,000) 15,000 15,000 25,000 (10,000) 37,153 Public safety OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (35,000) (35,000) 2,153 175,629 140,629 175,629 140,629 189,313 191,466 220 $ $ $ 13,684 50,837 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 4,317,116 Interest Income $ 4,287,756 $ $ 289,602 69,634 177,757 30,843 108,123 30,843 4,357,390 4,357,390 4,785,958 428,568 4,857,390 335,000 4,857,390 335,000 4,348,166 532,554 509,224 (197,554) 5,192,390 5,192,390 4,880,720 311,670 (835,000) (835,000) (94,762) 740,238 740,238 Miscellaneous Total revenues 4,577,358 40,274 EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Deficiency of revenues under expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (835,000) (835,000) (94,762) 2,673,023 1,838,023 2,673,023 1,838,023 3,447,576 3,352,814 221 $ $ $ 774,553 1,514,791 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Fines & forfeit Interest Income Total revenues 1,445,748 $ 1,445,748 $ 1,505,532 $ 59,784 514 22,536 514 22,536 51,740 (514) 29,204 1,468,798 1,468,798 1,557,272 88,474 1,468,798 1,468,798 1,181,451 287,347 1,468,798 1,468,798 1,181,451 287,347 375,821 375,821 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures OTHER FINANCING USES Transfers out (500,000) (500,000) Total other financing uses Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (124,179) 1,153,627 653,627 1,153,627 653,627 1,054,559 930,380 222 $ $ 375,821 $ (99,068) 276,753 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Library District Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 7,395,960 $ 7,395,960 $ 6,238,966 $ (1,156,994) Fines & forfeit 185,000 185,000 195,335 10,335 Interest income 652,250 652,250 1,244,407 592,157 Intergovernmental 398,845 398,845 424,512 25,667 301,850 26,464,147 301,850 26,464,147 362,913 26,411,611 61,063 (52,536) 35,398,052 35,398,052 34,877,744 (520,308) 35,417,699 300,000 35,417,699 300,000 32,994,380 65,459 2,423,319 234,541 35,717,699 35,717,699 33,059,839 2,657,860 (319,647) (319,647) 1,817,905 2,137,552 319,647 319,647 319,647 319,647 319,637 319,637 10 10 2,137,542 2,137,542 22,674,905 22,674,905 22,674,905 22,674,905 25,704,044 27,841,586 Miscellaneous Taxes Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES Transfers In Total other financing sources Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 223 $ $ $ 3,029,139 5,166,681 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 25,000 $ 25,000 $ 344,637 25,000 25,000 344,637 Culture and recreation 25,000 25,000 25,000 Total expenditures 25,000 25,000 25,000 Total revenues $ 319,637 319,637 EXPENDITURES Current: Excess of revenues over expenditures 319,637 319,637 (319,637) (319,637) (10) (10) OTHER FINANCING USES Transfers Out Total other financing uses (319,647) (319,647) (319,647) (319,647) Net change in fund balances (319,647) (319,647) 319,647 Fund balance (deficit), July 1, 2023 Fund deficit, June 30, 2024 $ (319,647) 224 $ (319,647) $ (25,001) (25,001) $ (25,001) 294,646 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Medical Examiner Grants – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues $ $ 216,482 216,482 345,314 345,314 164,870 51,612 216,482 4,148 $ 4,148 193,801 197,949 (151,513) (147,365) 164,876 7,480 157,396 180,438 345,314 190,469 197,949 (10,031) 147,365 EXPENDITURES Current: Health welfare and sanitation Capital outlay Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 116,722 $ 116,722 225 116,722 $ 116,722 (116,722) $ $ (116,722) 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Miscellaneous 6,120,217 5,500,000 $ 5,252,911 5,235,335 $ 2,478,714 $ (2,774,197) (5,235,335) 11,620,217 10,488,246 2,478,714 (8,009,532) General government 6,500,000 13,667,559 2,478,714 11,188,845 Public Safety 2,000,000 3,120,217 2,000,000 3,120,217 11,620,217 18,787,776 Total revenues EXPENDITURES Current: Education Total expenditures 2,000,000 3,120,217 2,478,714 16,309,062 Excess (deficiency) of revenues over expenditures (8,299,530) 8,299,530 Net change in fund balances (8,299,530) 8,299,530 Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ $ 226 (8,299,530) $ $ 8,299,530 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & Forfeit $ 50,000 $ 50,000 $ Interest income 50,000 50,000 Total expenditures 125,000 125,000 125,000 125,000 Excess (deficiency) of revenues over expenditures (75,000) (75,000) Total revenues 43,666 $ 3,347 47,013 (6,334) 3,347 (2,987) EXPENDITURES Current: Public Safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 125,000 125,000 47,013 122,013 122,013 (75,000) (75,000) 47,013 117,890 42,890 117,890 42,890 114,874 161,887 227 $ $ $ (3,016) 118,997 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Palo Verde Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues $ $ 45,829 $ 45,829 862,785 862,785 862,785 862,785 862,785 908,614 45,829 862,785 862,785 862,785 862,785 862,783 862,783 2 2 45,831 45,831 EXPENDITURES Current: Public Safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 1,068,607 1,068,607 228 $ 1,068,607 1,068,607 $ 45,831 45,831 1,022,956 1,068,787 (45,651) 180 $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Donations Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous 5,067 33,080 $ 5,067 33,080 $ 27,231 38,463 $ 22,164 5,383 38,147 38,147 65,694 27,547 Total expenditures 78,147 78,147 78,147 78,147 22,248 22,248 55,899 55,899 Excess (deficiency) of revenues over expenditures (40,000) (40,000) 43,446 83,446 83,446 Total revenues EXPENDITURES Current: Culture and recreation Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (40,000) (40,000) 43,446 554,927 514,927 554,927 514,927 549,920 593,366 229 $ $ $ (5,007) 78,439 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Enhancement– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 7,353,567 $ 7,353,568 $ 7,443,660 $ 90,092 38,521 38,520 148,852 110,332 7,392,088 7,392,088 57,871 7,650,383 57,871 258,295 8,100,166 671,770 8,059,516 712,420 7,728,989 705,820 330,527 6,600 Total expenditures 8,771,936 8,771,936 8,434,809 337,127 Deficiency of revenues under expenditures (1,379,848) (1,379,848) (784,426) 595,422 Net change in fund balances (1,379,848) (1,379,848) (784,426) 595,422 2,259,293 879,445 2,259,293 879,445 2,409,416 1,624,990 Miscellaneous Total revenues EXPENDITURES Current: Culture and recreation Capital outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 230 $ $ $ 150,123 745,545 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks and Recreation Grants– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 680,791 $ 680,791 Total revenues 680,791 $ 357,098 $ (323,693) 680,791 357,098 (323,693) 80,791 80,796 108,977 (28,181) 600,000 680,791 599,995 680,791 345,960 454,937 254,035 225,854 (97,839) (97,839) EXPENDITURES Current: Culture and recreation Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 (20,465) $ (20,465) 231 (20,465) $ (20,465) $ (97,839) (97,839) (182,765) (162,300) (280,604) $ (260,139) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Parks Souvenir Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 275,936 200 $ 305,932 204 $ 305,191 987 $ (741) 783 276,136 306,136 306,178 42 276,136 276,136 306,136 306,136 306,137 306,137 (1) (1) 41 41 EXPENDITURES Current: Culture and recreation Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 50,893 $ 50,893 232 50,893 $ 50,893 $ 41 41 24,801 (26,092) 24,842 $ (26,051) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Pension Reserve Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 8,205,750 $ 8,205,750 Total revenues 8,205,750 8,205,750 EXPENDITURES Current: Public Safety Total expenditures 190,000,000 190,000,000 190,000,000 190,000,000 190,000,000 190,000,000 Deficiency of revenues under expenditures (190,000,000) (190,000,000) (181,794,250) (5,695,061) (5,695,061) (5,695,061) (5,695,061) (190,000,000) (195,695,061) (187,489,311) 8,205,750 192,204,943 2,204,943 192,204,943 (3,490,118) 187,489,311 (4,715,632) 3,490,118 8,205,750 OTHER FINANCING USES Transfers Out Total other financing uses Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 233 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 7,283,628 $ 7,283,629 $ 11,528,938 $ 4,245,309 Fines & forfeit 25,704 25,704 132,301 106,597 Interest income 63,756 63,756 2,160,229 2,096,473 Licenses and permits 7,576,515 7,576,514 12,408,194 4,831,680 Miscellaneous 33,996 14,983,599 33,996 14,983,599 29,781 26,259,443 (4,215) 11,275,844 16,980,948 19,980,948 18,521,075 1,459,873 Total expenditures 160,000 17,140,948 160,000 20,140,948 93,847 18,614,922 66,153 1,526,026 Excess (deficiency) of revenues over expenditures (2,157,349) (5,157,349) 7,644,521 12,801,870 12,801,870 Total revenues EXPENDITURES Current: Public safety Capital outlay Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (2,157,349) (5,157,349) 7,644,521 39,970,267 37,812,918 39,970,267 34,812,918 40,703,192 48,347,713 234 $ $ $ 732,925 13,534,795 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Probate Fees Fund – Special Revenue Fund Year Ended June 30, 2024 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 $ 391,629 6,501 $ 829 5,301 392,000 392,000 398,130 6,130 EXPENDITURES Current: 487,000 487,000 359,315 127,685 Total expenditures 487,000 487,000 359,315 127,685 Excess (deficiency) of revenues over expenditures (95,000) (95,000) 38,815 133,815 133,815 Public safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (95,000) (95,000) 38,815 221,055 126,055 221,055 126,055 242,094 280,909 235 $ $ $ 21,039 154,854 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,733,175 $ 1,733,175 $ Interest income Total revenues 1,285,582 70,223 $ (447,593) 70,223 1,733,175 1,733,175 1,355,805 (377,370) EXPENDITURES Current: 2,380,802 2,380,802 1,235,579 1,145,223 Total expenditures 2,380,802 2,380,802 1,235,579 1,145,223 Excess (deficiency) of revenues over expenditures (647,627) (647,627) 120,226 767,853 Net change in fund balances (647,627) (647,627) 120,226 767,853 751,953 751,953 1,313,044 Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 104,326 236 $ 104,326 $ 1,433,270 561,091 $ 1,328,944 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 2,911,264 $ 2,911,264 $ 304,186 1,846,872 $ 304,186 (1,064,392) 2,911,264 2,911,264 2,151,058 (760,206) EXPENDITURES Current: 4,911,264 4,911,264 2,162,805 2,748,459 Total expenditures 4,911,264 4,911,264 2,162,805 2,748,459 Deficiency of revenues under expenditures (2,000,000) (2,000,000) (11,747) 1,988,253 Net change in fund balances (2,000,000) (2,000,000) (11,747) 1,988,253 8,165,302 6,165,302 8,165,302 6,165,302 (11,747) (8,165,302) (6,177,049) Public Safety Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 237 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 3,257 $ 3,257 Intergovernmental 199,028 153,583 126,177 (27,406) Miscellaneous 13,000 212,028 12,966 166,549 1,820 131,254 (11,146) (35,295) Total revenues EXPENDITURES Current: 289,928 244,449 150,916 93,533 Total expenditures 289,928 244,449 150,916 93,533 Deficiency of revenues under expenditures (77,900) (77,900) (19,662) 58,238 Net change in fund balances (77,900) (77,900) (19,662) 58,238 84,042 6,142 84,042 6,142 123,974 104,312 Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 238 $ $ $ 39,932 98,170 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, 2024 Variance with Final Budget Budgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 12,383,936 $ 12,383,936 $ 11,046,246 $ (1,337,690) Interest income 60,000 60,000 446,616 386,616 Miscellaneous 3,120 12,447,056 3,120 12,447,056 4,607 11,497,469 1,487 (949,587) 12,496,589 12,496,589 Total revenues EXPENDITURES Current: 10,447,860 2,048,729 Debt service Health, welfare, and sanitation 204,017 (204,017) Debt service interest (54,725) 274,938 Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 643,067 643,067 54,725 368,129 13,139,656 13,139,656 11,074,731 2,064,925 (692,600) (692,600) 422,738 1,115,338 OTHER FINANCING SOURCES Transfers in 5,000 5,000 5,000 5,000 5,000 5,000 Net change in fund balances (687,600) (687,600) 422,738 1,110,338 Fund balance, July 1, 2023 10,126,348 10,126,348 9,954,513 (171,835) Total other financing sources Change in nonspendable resources: (751,276) Decrease in inventories Fund balance, June 30, 2024 $ 9,438,748 239 $ 9,438,748 $ 9,625,975 (751,276) $ 187,227 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Public Health Grants Fund– Debt Service Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 120,016,217 $ 120,016,217 $ Miscellaneous Settlement Revenue Total revenues 92,888,466 $ (27,127,751) 23,000 23,000 13,126,858 (13,977,893) 120,016,217 120,016,217 13,126,858 106,038,324 120,016,217 120,016,217 EXPENDITURES Current: 87,533,149 32,483,068 Debt service Health welfare and sanitation 69,793 (69,793) Debt service interest 34,329 67,634 (34,329) (67,634) 87,704,905 32,311,312 18,333,419 18,333,419 18,333,419 18,333,419 (26,400,931) (1,576,498) Capital outlay 120,016,217 Total expenditures 120,016,217 Excess of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2023 (24,824,433) (24,824,433) Change in nonspendable resources: Increase in inventories Fund deficit, June 30, 2024 $ (24,824,433) 240 $ (24,824,433) $ 626,478 (7,441,034) $ 626,478 17,383,399 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Grants– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income Intergovernmental $ $ 6,595,322 $ 51,209 1,803,029 $ 51,209 (4,792,293) Total revenues 6,595,322 1,854,238 (4,741,084) 6,595,322 6,595,322 3,414,267 3,414,267 3,181,055 3,181,055 (1,560,029) (1,560,029) EXPENDITURES Current: General Government Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES Transfers In Total other financing sources 1,371,477 1,371,477 1,371,477 1,371,477 Net change in fund balances 1,371,477 (188,552) (1,560,029) Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ $ 241 1,371,477 $ (188,552) $ (1,560,029) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Recorder’s Surcharge– Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest Income Total revenues 2,538,087 5,769 $ 2,538,084 5,772 $ 2,802,028 70,249 $ 263,944 64,477 2,543,856 2,543,856 2,872,277 328,421 EXPENDITURES Current: 2,869,568 2,869,568 2,477,972 391,596 Total expenditures 2,869,568 2,869,568 2,477,972 391,596 Excess (deficiency) of revenues over expenditures (325,712) (325,712) 394,305 720,017 Net change in fund balances (325,712) (325,712) 394,305 720,017 475,227 149,515 475,227 149,515 954,807 1,349,112 General Government Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 242 $ $ $ 479,580 1,199,597 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Communication Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 383,792 $ 383,795 $ Interest income Intergovernmental Total revenues 1,180,830 $ 797,035 (21,779) (21,779) 679,467 1,063,259 679,464 1,063,259 511,766 1,670,817 (167,698) 607,558 EXPENDITURES Current: 1,328,584 1,528,588 1,406,099 122,489 Total expenditures 1,328,584 1,528,588 1,406,099 122,489 Excess (deficiency) of revenues over expenditures (265,325) (465,329) 264,718 730,047 Education Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (265,325) (465,329) 264,718 730,047 1,481,479 1,216,154 1,481,479 1,016,150 1,188,627 1,453,345 (292,852) 437,195 243 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Grants Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 4,804,507 4,804,507 $ 7,665,972 7,665,972 $ 4,194,706 4,194,706 $ (3,471,266) (3,471,266) EXPENDITURES Current: Education Total expenditures 4,804,507 7,765,576 4,827,735 2,937,841 4,804,507 7,765,576 4,827,735 2,937,841 (99,604) (633,029) (533,425) (99,604) (633,029) (533,425) (508,543) (608,147) (1,280,367) (1,913,396) Excess (deficiency) of revenues over expenditures Net change in fund balances Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ (508,543) (508,543) 244 $ $ $ (771,824) (1,305,249) Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual School Transportation Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ Intergovernmental Total revenues 9,125 9,125 $ 12,053 29,776 $ 12,053 20,651 9,125 9,125 41,829 32,704 EXPENDITURES Current: 599,785 599,785 15,822 583,963 Total expenditures 599,785 599,785 15,822 583,963 Excess (defiency) of revenues over expenditures (590,660) (590,660) 26,007 616,667 Net change in fund balances (590,660) (590,660) 26,007 616,667 590,660 590,660 574,151 600,158 Education Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ $ 245 $ $ (16,509) 600,158 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Donations Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines and forfeits $ 10,000 $ 10,004 $ 1,072 $ (8,932) Interest income 10,000 9,996 25,233 15,237 Miscellaneous 30,000 50,000 30,000 50,000 21,655 47,960 (8,345) (2,040) 50,000 110,000 50,000 110,000 50,000 110,000 Total expenditures 160,000 160,000 160,000 Excess (deficiency) of revenues over expenditures (110,000) (110,000) Net change in fund balances (110,000) 529,584 419,584 Total revenues EXPENDITURES Current: Public safety Capital outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 246 $ 47,960 157,960 (110,000) 47,960 157,960 529,584 419,584 509,133 557,093 $ $ (20,451) 137,509 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff Grants Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 30,000 $ 30,000 $ 415,812 $ 385,812 16,280,094 16,310,094 20,198,847 20,228,847 13,770,171 14,185,983 (6,428,676) (6,042,864) 20,645,832 24,564,587 12,790,900 11,773,687 Total expenditures 814,262 21,460,094 814,260 25,378,847 1,415,769 14,206,669 (601,509) 11,172,178 Deficiency of revenues under expenditures (5,150,000) (5,150,000) (20,686) 5,129,314 Net change in fund balances (5,150,000) (5,150,000) (20,686) 5,129,314 Fund balance (deficit), July 1, 2023 4,827,368 (322,632) 4,827,368 (322,632) (760,269) (780,955) (5,587,637) (458,323) Total revenues EXPENDITURES Current: Public safety Capital Outlay Fund deficit, June 30, 2024 $ 247 $ $ $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental 94,188 $ 94,188 $ 183,674 $ 89,486 1,005,918 1,100,106 1,005,918 1,100,106 1,074,458 1,258,132 1,100,106 1,100,106 548,661 551,445 Total expenditures 2,900,000 4,000,106 2,900,000 4,000,106 8,128 556,789 2,891,872 3,443,317 Excess (deficiency) of revenues over expenditures (2,900,000) (2,900,000) 701,343 3,601,343 Net change in fund balances (2,900,000) (2,900,000) 701,343 3,601,343 3,969,613 1,069,613 3,969,613 1,069,613 3,695,833 4,397,176 (273,780) $ 3,327,563 Total revenues 68,540 158,026 EXPENDITURES Current: Public safety Capital Outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 248 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Sheriff RICO Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Total revenues 523,651 523,651 $ 523,651 523,651 $ 111,144 111,144 $ (412,507) (412,507) EXPENDITURES Current: Public safety 523,651 523,651 Total expenditures 523,651 523,651 111,144 111,144 412,507 412,507 Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 60,000 60,000 249 $ 60,000 60,000 $ 60,000 60,000 $ 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous Total revenues 50,000 $ 50,000 $ 478 56,381 $ 478 6,381 50,000 50,000 56,859 6,859 50,000 50,000 50,001 (1) 50,000 50,000 50,001 (1) 6,858 6,858 6,858 6,858 EXPENDITURES Current: Public safety Total expenditures Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 23,082 23,082 250 $ 23,082 23,082 $ 28,241 35,099 $ 5,159 12,017 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 109,656 $ 109,656 $ 6,628 109,657 $ 6,628 1 109,656 109,656 116,285 6,629 EXPENDITURES Current: 121,209 121,209 119,709 1,500 Total expenditures 121,209 121,209 119,709 1,500 Deficiency of revenues under expenditures (11,553) (11,553) (3,424) 8,129 8,129 Education Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (11,553) (11,553) (3,424) 217,178 205,625 217,178 205,625 219,412 215,988 251 $ $ $ 2,234 10,363 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 113,000 $ 113,000 $ Interest income Total revenues 102,237 113,000 113,000 5,784 108,021 $ (10,763) 5,784 (4,979) EXPENDITURES Current: 128,000 128,000 121,605 6,395 Total expenditures 128,000 128,000 121,605 6,395 Deficiency of revenues under expenditures (15,000) (15,000) (13,584) 1,416 1,416 Public safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (15,000) (15,000) (13,584) 199,867 184,867 199,867 184,867 201,089 187,505 252 $ $ $ 1,222 2,638 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income Total revenues 345,149 $ 336,982 $ 311,994 $ (24,988) 1,763 346,912 9,930 346,912 10,439 322,433 509 (24,479) 396,912 396,912 319,259 77,653 110,000 506,912 110,000 506,912 319,259 110,000 187,653 (160,000) (160,000) 3,174 163,174 (160,000) (160,000) 3,174 163,174 351,026 191,026 351,026 191,026 372,938 376,112 EXPENDITURES Current: Culture and recreation Capital Outlay Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 253 $ $ $ 21,912 185,086 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest Income $ $ $ Total revenues 22,927 $ 22,927 22,927 22,927 EXPENDITURES Current: 500,000 1,000,000 253,868 746,132 Total expenditures 500,000 1,000,000 253,868 746,132 Deficiency of revenues under expenditures (500,000) (1,000,000) (230,941) 769,059 500,000 500,000 500,000 500,000 500,000 500,000 (500,000) 269,059 371,562 (128,438) 478,192 747,251 Public safety OTHER FINANCING SOURCES Transfers in Total other financing sources Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 371,562 371,562 254 $ $ 769,059 $ 106,630 875,689 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 1,816,159 60 $ 1,729,853 $ 1,725,437 1,109 $ (4,416) 1,109 1,816,219 1,729,853 1,726,546 1,816,219 1,748,563 1,498,751 249,812 1,816,219 1,748,563 1,498,751 249,812 Excess (deficiency) of revenues over expenditures (18,710) 227,795 246,505 Net change in fund balances (18,710) 227,795 246,505 Total revenues (3,307) EXPENDITURES Current: Public safety Total expenditures (20,097) Fund balance (deficit), July 1, 2023 Fund balance (deficit), June 30, 2024 $ $ 255 (18,710) $ 207,698 (20,097) $ 226,408 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ 1,560,129 Interest income $ 1,452,277 $ 1,380,026 $ (72,251) 1,512 1,512 80,969 79,457 4,670,747 4,418,325 3,652,947 16,000 (765,378) 16,000 6,232,388 5,872,114 5,129,942 (742,172) 6,823,072 6,823,072 8,641,852 8,641,852 5,253,416 5,253,416 3,388,436 3,388,436 Deficiency of revenues under expenditures (590,684) (2,769,738) (123,474) 2,646,264 Net change in fund balances (590,684) (58,397) (2,769,738) (58,397) (123,474) (29,824) 2,646,264 28,573 Intergovernmental Miscellaneous Total revenues EXPENDITURES Current: Public safety Total expenditures Fund deficit, July 1, 2023 Fund deficit, June 30, 2024 $ (649,081) 256 $ (2,828,135) $ (153,298) $ 2,674,837 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 495,411 $ 495,411 $ 517,044 $ 21,633 29,316 524,727 29,316 524,727 46,817 563,861 17,501 39,134 Total expenditures 1,049,727 1,049,727 1,049,727 1,049,727 498,821 498,821 550,906 550,906 Excess (deficiency) of revenues over expenditures (525,000) (525,000) 65,040 590,040 590,040 Total revenues EXPENDITURES Current: Public Safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ (525,000) (525,000) 65,040 1,001,889 476,889 1,001,889 476,889 915,302 980,342 257 $ $ $ (86,587) 503,453 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest Income Miscellaneous Total revenues 4,907,548 $ 4,907,548 $ 5,539,962 $ 632,414 4,992 19,740 4,992 19,740 190,122 18,111 185,130 (1,629) 4,932,280 4,932,280 5,748,195 815,915 EXPENDITURES Current: 5,777,280 5,777,280 4,685,228 1,092,052 Total expenditures 5,777,280 5,777,280 4,685,228 1,092,052 Excess (deficiency) of revenues over expenditures (845,000) (845,000) 1,062,967 1,907,967 (845,000) (845,000) 1,062,967 1,907,967 3,620,482 2,775,482 3,620,482 2,775,482 3,945,818 5,008,785 Public safety Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 258 $ $ $ 325,336 2,233,303 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Taxpayer Information Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ $ $ Interest income Miscellaneous 122,583 $ 122,583 27,529 27,529 150,112 (125,000) 25,112 125,000 125,000 125,000 125,000 General government 125,000 125,000 125,000 Total expenditures 125,000 125,000 125,000 Total revenues EXPENDITURES Current: Excess of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 555,172 555,172 259 $ 555,172 555,172 $ 150,112 150,112 150,112 150,112 670,765 820,877 $ 115,593 265,705 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Grants Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ Total revenues 1,999,169 1,999,169 $ 1,999,169 1,999,169 $ 1,448,147 1,448,147 $ (551,022) (551,022) EXPENDITURES Current: Highways and streets 1,999,169 1,999,169 Total expenditures Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance (deficit), July 1, 2023 Fund balance (deficit), June 30, 2024 $ 87,646 87,646 260 $ 2,321,590 2,321,590 1,425,941 1,425,941 895,649 895,649 (322,421) 22,206 344,627 (322,421) 22,206 344,627 87,646 (234,775) (39,782) (17,576) (127,428) 217,199 $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Transportation Operations Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Interest income 10,000 $ 10,000 $ 82,004 $ 72,004 800,000 800,000 4,893,549 4,093,549 Intergovernmental 153,199,057 153,199,057 152,098,424 (1,100,633) Licenses and permits 4,080,000 4,080,000 4,978,413 898,413 575,319 158,664,376 575,319 158,664,376 1,758,660 163,811,050 1,183,341 5,146,674 109,675,404 109,599,404 90,417,916 19,181,488 6,647,775 6,723,775 162,000 7,185,502 (162,000) (461,727) Total expenditures 116,323,179 116,323,179 97,765,418 18,557,761 Excess of revenues over expenditures 42,341,197 42,341,197 66,045,632 23,704,435 (70,142,531) 60,109 (70,146,031) 60,109 (70,146,030) 1 Total other financing sources (uses) (70,142,531) (70,085,922) (70,085,921) 1 Net change in fund balances (27,801,334) (27,744,725) (4,040,289) 23,704,436 74,667,961 74,667,961 67,210,965 (7,456,996) Miscellaneous Total revenues EXPENDITURES Current: Highways and streets Debt Service Capital outlay OTHER FINANCING SOURCES (USES) Transfers In Transfers out Fund balance, July 1, 2023 Change in nonspendable resources: Increase in inventories Fund balance, June 30, 2024 $ 46,866,627 261 $ 46,923,236 $ 53,036 63,223,712 $ 53,036 16,300,476 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 15,000 $ 15,000 $ 82,672 $ 67,672 15,000 15,000 82,672 67,672 115,000 115,000 2,805 112,195 Total expenditures 115,000 115,000 2,805 112,195 Excess (deficiency) of revenues over expenditures (100,000) (100,000) 79,867 179,867 Net change in fund balances (100,000) (100,000) 79,867 179,867 Total revenues EXPENDITURES Current: Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 963,491 863,491 262 $ 963,491 863,491 $ 940,777 1,020,644 $ (22,714) 157,153 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, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Fines & forfeit $ Interest income Total revenues 200,000 5,000 $ 200,000 5,000 $ 242,422 28,311 $ 42,422 23,311 205,000 205,000 270,733 65,733 EXPENDITURES Current: 723,432 723,432 4,480 718,952 Total expenditures 723,432 723,432 4,480 718,952 Excess (deficiency) of revenues over expenditures (518,432) (518,432) 266,253 784,685 Net change in fund balances (518,432) (518,432) 266,253 784,685 Public safety Fund balance, July 1, 2023 Fund balance, June 30, 2024 518,432 $ 518,432 $ 263 $ 598,853 865,106 $ 80,421 865,106 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Victim Location Fund – Special Revenue Fund Year Ended June 30, 2024 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 $ 13,305 13,305 13,305 11,305 11,305 2,000 2,000 13,305 Fund balance, July 1, 2023 38,336 40,336 38,336 40,336 41,388 54,693 $ 264 $ 11,305 11,305 2,000 Net change in fund balances Fund balance, June 30, 2024 $ $ $ 3,052 14,357 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Management Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Miscellaneous $ $ 29,186 $ 29,186 115,000 115,000 115,000 115,000 120,886 150,072 5,886 35,072 719,014 719,014 781,377 781,377 116,512 116,512 664,865 Total expenditures Excess (deficiency) of revenues over expenditures (604,014) (666,377) 33,560 699,937 Net change in fund balances (604,014) (666,377) 33,560 699,937 625,635 21,621 625,635 (40,742) 666,376 699,936 Total revenues EXPENDITURES Current: Health welfare and sanitation Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 $ 265 $ $ 664,865 $ 40,741 740,678 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Waste Tire Fund – Special Revenue Fund Year Ended June 30, 2024 Variance with Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Intergovernmental Total revenues 12,660 5,954,058 $ 12,660 5,954,058 $ 118,445 6,490,998 $ 105,785 536,940 5,966,718 5,966,718 6,609,443 642,725 EXPENDITURES Current: 6,666,718 6,666,718 5,199,994 1,466,724 Total expenditures 6,666,718 6,666,718 5,199,994 1,466,724 Excess (deficiency) of revenues over expenditures (700,000) (700,000) 1,409,449 2,109,449 (700,000) (700,000) 1,409,449 2,109,449 3,091,350 2,391,350 3,091,350 2,391,350 3,318,186 4,727,635 Health welfare and sanitation Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 266 $ $ $ 226,836 2,336,285 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 4,023,043 $ 4,023,043 Total revenues 4,023,043 4,023,043 EXPENDITURES Debt service Principal 100,495,457 100,495,457 100,072,957 422,500 Debt Service Interest 1,017,314 101,512,771 1,439,814 101,512,771 (422,500) Total expenditures 1,017,314 101,512,771 Deficiency of revenues under expenditures (101,512,771) (101,512,771) (97,489,728) 4,023,043 43,942,654 43,942,654 36,365,663 7,576,991 Total other financing sources (uses) 43,942,654 (7,309,150) 36,633,504 (7,309,150) 29,056,513 7,576,991 Net change in fund balances (57,570,117) 89,320,373 31,750,256 (64,879,267) 89,320,373 24,441,106 (68,433,215) 87,059,907 18,626,692 (3,553,948) (2,260,466) (5,814,414) OTHER FINANCING SOURCES (USES) Transfers In Transfers Out Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 267 $ $ $ 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ 11,239,728 $ 11,239,728 Total revenues 11,239,728 11,239,728 EXPENDITURES Debt service 251,755,000 251,755,000 251,755,000 Total expenditures 2,580,489 254,335,489 2,580,489 254,335,489 2,580,489 254,335,489 Deficiency of revenues under expenditures (254,335,489) (254,335,489) (243,095,761) (7,666,682) (7,666,682) (7,666,682) (7,666,682) (262,002,171) 257,161,646 $ (4,840,525) (250,762,443) 250,762,443 Debt service Interest 11,239,728 OTHER FINANCING USES Transfers Out Total other financing uses Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 (254,335,489) 257,161,646 $ 2,826,157 268 $ $ 11,239,728 (6,399,203) 4,840,525 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual County Improvement Series Fund– Capital Projects Fund Year Ended June 30, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ $ $ Intergovernmental 1,980,635 1,229,176 $ 3,209,811 Total revenues 1,980,635 1,229,176 3,209,811 EXPENDITURES Current: 2,610,262 1,910,078 Public safety General government 18,022,378 19,409,910 Health Welfare and Sanitation 1,000,000 999,996 563,169 999,996 Debt Service Other Capital outlay 1,346,909 19,409,910 448,350 (448,350) Total expenditures 182,025,287 203,657,927 182,112,032 204,432,016 91,560,231 92,571,750 90,551,801 111,860,266 Deficiency of revenues under expenditures (203,657,927) (204,432,016) (89,361,939) 115,070,077 195,000,000 190,450,000 OTHER FINANCING SOURCES (USES) Bond Proceeds 4,550,000 Transfers in 25,058,025 25,058,025 Transfers out (4,259,606) 20,798,419 (8,316,057) 211,741,968 (8,316,057) 182,133,943 29,608,025 (182,859,508) 61,275,252 $ (121,584,256) 7,309,952 61,275,252 68,585,204 92,772,004 75,226,913 167,998,917 85,462,052 13,951,661 99,413,713 Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2023 Fund balance (deficit), June 30, 2024 269 $ 25,058,025 $ $ 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Culture and Recreation Capital outlay $ 1,082,638 30,069,494 $ 1,036,269 27,219,323 $ 8,378,019 $ 1,036,269 18,841,304 Total expenditures 31,152,132 28,255,592 8,378,019 19,877,573 Deficiency of revenues under expenditures (31,152,132) (28,255,592) (8,378,019) 19,877,573 Transfers in 385,181,389 391,481,389 391,481,389 Transfers out (35,354,086) 349,827,303 (35,354,086) 356,127,303 (10,296,061) 381,185,328 (25,058,025) (25,058,025) 44,935,598 OTHER FINANCING SOURCES (USES) Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 318,675,171 327,871,711 372,807,309 751,581,778 751,581,778 753,017,296 $ 1,070,256,949 $ 1,079,453,489 $ 1,125,824,605 270 1,435,518 $ 46,371,116 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES Capital outlay $ 6,770,244 $ 1,152,217 $ 875,972 $ 276,245 Total expenditures 6,770,244 1,152,217 875,972 276,245 Deficiency of revenues under expenditures (6,770,244) (1,152,217) (875,972) 276,245 35,911,508 (2,015,760) 33,895,748 35,911,508 (2,015,760) 33,895,748 35,911,508 (2,015,760) 33,895,748 27,125,504 64,307,044 91,432,548 32,743,531 64,307,044 97,050,575 33,019,776 64,226,706 97,246,482 OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 271 $ $ $ 276,245 (80,338) 195,907 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Detention Technology Capital Improvement– Capital Projects Fund Year Ended June 30, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) OTHER FINANCING USES Transfers Out $ (2,830) $ (2,830) $ (2,830) Total other financing uses (2,830) (2,830) (2,830) Net change in fund balances (2,830) 2,830 (2,830) 2,830 (2,830) 2,830 Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ $ 272 $ $ $ Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Flood Control Capital Projects– Capital Projects Fund Year Ended June 30, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Intergovernmental $ 9,775,000 $ 9,775,000 Total revenues 9,775,000 $ 9,775,000 12,248,878 $ 12,248,878 2,473,878 2,473,878 EXPENDITURES Public Safety 2,221,500 2,734,380 5,870,249 (3,135,869) Capital Outlay Total expenditures 75,333,284 77,554,784 113,114,765 115,849,145 98,164,163 104,034,412 14,950,602 11,814,733 Deficiency of revenues under expenditures (67,779,784) (106,074,145) (91,785,534) 14,288,611 39,008,044 39,008,044 39,008,044 39,008,044 39,008,044 39,008,044 (28,771,740) 91,905,201 63,133,461 (67,066,101) 91,905,201 24,839,100 (52,777,490) 82,696,657 29,919,167 OTHER FINANCING SOURCES Transfers In Total other financing sources Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 273 $ $ $ 14,288,611 (9,208,544) 5,080,067 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ 300,000 $ 300,000 Total revenues 300,000 $ 587,997 $ 287,997 300,000 587,997 287,997 9,500,000 9,500,000 9,099,712 9,099,712 400,288 400,288 (9,200,000) (8,511,715) 688,285 688,285 EXPENDITURES Capital Outlay Total expenditures 300,000 Excess (deficiency) of revenues over expenditures Net change in fund balances Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 300,000 (9,200,000) (8,511,715) 10,270,703 10,270,703 10,213,079 10,570,703 274 $ 1,070,703 $ 1,701,364 (57,624) $ 630,661 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Interest income $ Total revenues 4,000 4,000 $ 4,000 4,000 $ 7,906 7,906 $ 3,906 3,906 EXPENDITURES 279,211 279,211 279,211 Total expenditures 279,211 279,211 279,211 Excess (deficiency) of revenues over expenditures (275,211) (275,211) Net change in fund balances (275,211) 279,210 Capital outlay Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 3,999 275 $ 7,906 283,117 (275,211) 7,906 283,117 279,210 282,356 3,999 $ 290,262 3,146 $ 286,263 Maricopa County Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Technology Capital Improvement – Capital Projects Fund Year Ended June 30, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) EXPENDITURES General Government $ Capital outlay 17,171,266 9,212,383 $ 14,780,742 7,207,709 $ 12,911,609 $ 14,780,742 (5,703,900) Total expenditures 26,383,649 21,988,451 12,911,609 9,076,842 Deficiency of revenues under expenditures (26,383,649) (21,988,451) (12,911,609) 9,076,842 11,330,924 (28,821,429) 11,330,924 (28,821,429) 11,330,924 (25,842,555) (2,978,874) Total other financing sources (uses) (17,490,505) (17,490,505) (14,511,631) (2,978,874) Net change in fund balances (43,874,154) 86,233,702 (39,478,956) 86,233,702 (27,423,240) 81,842,712 12,055,716 (4,390,990) OTHER FINANCING SOURCES (USES) Transfers in Transfers out Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ 42,359,548 276 $ 46,754,746 $ 54,419,472 $ 7,664,726 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, 2024 Variance With Final BudgetBudgeted Amounts Original Actual Amounts Final Positive (Negative) REVENUES Charges for services $ Intergovernmental 28,394,270 $ 6,331,417 28,644,933 $ 5,339,057 $ (23,305,876) 6,080,754 30,520,554 24,439,800 34,725,687 34,725,687 254,807 36,114,418 254,807 1,388,731 8,368,997 136,143,300 7,847,997 136,664,300 114,939,132 7,847,997 21,725,168 Total expenditures 144,512,297 144,512,297 114,939,132 29,573,165 Deficiency of revenues under expenditures (109,786,610) (109,786,610) (78,824,714) 30,961,896 70,142,531 70,142,531 70,142,532 1 Total other financing sources 70,142,531 70,142,531 70,142,532 1 Net change in fund balances (39,644,079) (39,644,079) (8,682,182) 30,961,897 39,644,079 39,644,079 35,998,679 27,316,497 Miscellaneous Total revenues EXPENDITURES Highway and Streets Capital outlay OTHER FINANCING SOURCES Transfers in Fund balance, July 1, 2023 Fund balance, June 30, 2024 $ $ 277 $ $ (3,645,400) 27,316,497 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget GENERAL GOVERNMENT County Improvement 301 - Administration Building Renovation $ 14,683,130 $ 14,683,130 Avondale Substation Radio Tower 1,328,325 1,328,325 CAD/RMS System Replacement 7,900,000 7,900,000 Clerk of the Court - Southeast Remodel $ 9,132,949 $ 873,733 5,550,181 454,592 7,900,000 4,199,431 4,347,004 2,279,350 Computer Aided Mass Appraisal 30,443 317,089 306,739 10,350 Downtown Court Plaza Remodel 2,732,000 3,228,593 748,607 2,479,986 Durango Campus Electrical Infrastructure 2,500,000 2,500,000 1,790,235 709,765 Downtown Office and Election Facility 4,200,000 6,000,000 5,563,852 436,148 East Valley Animal Care and Control Facility 13,331,357 11,625,209 6,894,527 4,730,682 9,074,423 9,013,673 Early Childhood Education Center for Employees Electronic Court Recording System Project 224,088 224,088 17,022,378 18,088,096 2,067,654 224,088 Electronic Health Record System 3,000,000 3,000,000 475,685 2,524,315 Emergency Management Facility 26,446,866 26,661,840 16,514,272 10,147,568 Equipment Services Center Buckeye 3,281,755 3,424,454 1,336,230 2,088,224 Equipment Services Fueling Station Downtown 1,913,696 1,367,929 317,076 1,050,853 Human Resources Information System 1,000,000 2,756,800 522,975 2,233,825 Jail Mgmt Information System 1,000,000 1,321,814 291,962 1,029,852 Judicial Branch Secure Fencing Projects 1,203,292 1,201,650 638,016 563,634 MCSO Substation - District 1 Mesa 9,500,000 9,736,727 396,345 9,340,382 MCSO Substation at Avondale Campus 7,220,514 1,814,786 728,857 1,085,929 MSCO Dist 3 Surprise Substation Add & Remodel 7,500,000 7,500,000 2,609,543 4,890,457 MCSO Warehouse 9,976,741 10,511,000 6,017,982 4,493,018 MCTEC Renovations 3,000,000 5,883,061 4,289,164 1,593,897 Northeast Regional Court Parking Lot 947,628 143,954 498 143,456 Northwest Durango Campus Drainage 1,750,000 1,750,000 140,009 1,609,991 2,336,844 1,431,842 905,002 Office Space and Parking Study 900,000 Property and Evidence System Upgrade 2,336,844 Round Court House - Durango Demo 527,887 Southeast Juvenile Facility Remodel 22,777,883 22,691,487 12,401,285 10,290,202 Southeast Regional Justice Center at Mesa 3,517,855 6,249,673 1,635,854 4,613,819 Superior Court Central Building 9th Floor 1,100,000 1,100,000 29,932 1,070,068 Superior Court Central Building 10th Floor 7,846,912 7,847,493 634,888 7,212,605 Superior Court Central Building 11th Floor 6,478,902 6,097,800 4,171,463 1,926,337 MCSO Security Surveillance Projects 9,680,000 311,938 9,368,062 STARR Call Center Relocation 9,680,000 500,000 Total County Improvements $ 201,557,927 $ 203,318,846 $ 91,560,231 $ 111,758,615 $ $ $ $ General Fund County Improvements Anthem Library Building Boundary Fencing 4,000,000 108,225 3,891,775 350,000 350,000 5,438 344,562 1,983,808 1,983,808 234,907 1,748,901 Education Building Improvements 300,000 300,000 101,570 198,430 Entry Station and Maintenance Buildings 736,885 693,587 591,460 102,127 383,289 280,290 102,999 319,388 72,576 246,812 Campground Development and Improvement Estrella Ramada Renovations Host Sites 225,848 278 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget GENERAL GOVERNMENT (Cont’d) Joe Foss Shooting Range $ Lake Boundary Fencing 300,000 $ 300,000 $ $ 300,000 600,000 Lake Pleasant - Campsite Repairs and Reno Maricopa Regional Trail System 1,833,012 1,560,135 496,695 470,142 42,356 427,786 900,000 745,000 155,000 276,815 Office Space and Parking Study 1,560,135 Parking Lot Repairs 553,036 729,096 452,281 Parks Day Use Hassayampa 489,013 470,963 390,674 80,289 Parks Day Use Usery 200,000 233,073 51,012 182,061 500,000 800,000 151,011 648,989 1,000,000 1,000,000 95,318 904,682 660,000 517,459 142,541 Parks Day Use White Tank Parks Master Plan Round Court House - Durango Demolition San Tan Mtn Park Improvement 2,022,073 1,030,239 993,456 36,783 Superior Court Central Building 12th Floor 1,312,165 340,251 42,175 298,076 500,000 442,080 57,920 17,934,597 7,931,621 478,033 7,453,588 315,000 $ 31,152,132 2,300,000 1,000,000 $ 28,255,592 $ 366,509 656,054 8,378,019 1,933,491 343,946 $ 19,877,573 $ $ $ 1,924,799 $ STARR Call Center Vulture Mountain West Valley Animal Shelter White Tank - Area 4 Renovations Total General Fund County Improvements Technology Capital Improvements Dynamics 365 Upgrade 2,116,095 2,045,444 120,645 Enterprise Res Planning System 2,227,914 2,227,914 1,610,747 617,167 Public Safety Radio 5,722,195 2,861,205 190,928 2,670,277 3,490,188 11,609,338 $ 25,165,730 3,298,214 11,555,674 $ 21,988,451 581,514 8,603,621 $ 12,911,609 $ 2,716,700 2,952,053 9,076,842 $ $ 117,531 758,441 875,972 $ $ 374,272 777,945 1,152,217 $ $ 6,185,336 584,908 6,770,244 $ 254,435 $ 241,883 $ 1,637 $ 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 $ $ 256,741 19,504 276,245 Flood Control Capital Projects 103rd Avenue Landfill Drainage Improvements 10th Street Wash Basins - Major Maintenance 10,045 115th Ave Union Hills Dr Drain 540,037 14Th15Th Street Storm Drain 19Ave and Dobbins Drainage Improvements 27th Ave and Olney Ave Storm Drain (1,290) 647,000 169,099 477,901 9,840,000 9,598,602 3,154,398 5,250 653 4,597 500,000 360,000 465 359,535 8,760 (8,760) 250,000 5,000 Agua Fria Levee Railing Paving R Agua Fria River - Major Maintenance 20,104 1,290 12,753,000 75th Ave Olive Ave Grand Ave Regional Drainage ACDC - Major Maintenance 519,933 1,500,000 2nd Ave And Spencer 51st Ave and Dobbins Rd Drainage Improve Proj 240,246 (10,045) 5,000 330 728,500 279 558,947 (330) 558,947 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget PUBLIC SAFETY (Cont’d) Agua Fria River Levee Railing Pa $ $ 15,000 $ 780,562 $ (765,562) Apollo Gardens Drainage Improvements 234,080 253,950 1,562 Baseline East of Signal Butte 508,869 5,250 176 5,074 1,000,000 412,000 17,060 394,940 180,000 5,739 174,261 6,126,784 11,227,000 11,239,551 (12,551) 2,500 67,229 (64,729) Bethany 79th To 59th Broadway Stapley Drainage Improvements Buckeye 1 Rehab Cave Buttes Dam Mod Cave Buttes Feasibility Study Central Chandler Drng 1,750,000 3,050,000 CIP - Small Project 6992430 3rd Ave Thomas Rd S Circle K Park Detention Basin 252,388 95 (95) 2,664,009 385,991 227 (227) 1,608 (1,608) Courtside Villa – Deuce Ct and Parcel F Drng 71,000 74,750 111,935 (37,185) Detention Basin @ Town of Queen Creek E Park 1,750,000 4,500,000 3,037,126 1,462,874 1,936 (1,936) Downtown Buckeye DRCC Avondale 1,650 930 720 248,328 250,050 480,285 (230,235) 1,880 (1,880) East Maricopa Floodway - Major Maintenance 22,500 13,363 East Mesa Drains - Major Maintenance 250,000 581,334 East Carefree Drive @ East Cave Creek Rd Drng East Fork Cave Creek - Major Maintenance Elliot Rd Drainage Improvement EMF To Ellsworth 2,862 10,501 581,334 160,000 24,274 EMF Levee Crest Improvements C 1,400 2,088 (688) EMF Low Flow - Chandler Heights to Hunt Highway 5,000 181 4,819 EMF Low Flow - Guadalupe to Ray Road EMF Low Flow Germann to Chandler Heights 250,000 2,407 (2,407) 110,000 554 109,446 2,902,101 350,647 Flood Control CIP 1,600,000 Flood Control West Yard 2,500,000 3,252,748 Floodprone Prop Acquisition 1,000,000 153,212 FPAP - Gila Bend - Mills 402-21-010D 58 FPAP Delozier 258 FPAP- Gila Bend - General Use Gila Bend Drainage Improvements 153,212 356 (298) 579 2,145 (1,566) 425,594 258 460,000 34,406 Golden Eagle Park Dam Debris Mitigation Impr 6,113 347 5,766 Grand Ave 83rd Ave Drainage Improvement 355,000 220,888 134,112 Grand Blvd and Rosita Drive Drainage Impr 1,130,000 135,726 218,000 213,250 260,497 (47,247) 3,200,000 3,250,000 2,940 3,247,060 5,250 95,358 (90,108) Guadalupe FRS - Major Maintenance 100,000 522,473 659,320 (136,847) Guadalupe FRS Rehab 240,000 335,000 288,291 46,709 26 (26) Hidden Valley Basins and Storm Drain 20,000 20,000 1,684 18,316 Indian Bend Wash Coll & Side Drain Major Main 105,000 105,000 Litchfield R Strm Dr 100,000 1,900,000 Granite Reef Wash Guadalupe Fire Station Drainage Improvements Guadalupe Rd Channel Box - Major Maintenance Loop 303 Drainage - Major Maintenance Main St and Phyllis St Major Maintenance Capital Appr Unit McMicken Dam Out Impr 105,000 1,893,299 6,701 1,178 (1,178) 5,250 5,250 644,000 56,000 56,000 5,400,000 18,495,000 280 18,360,414 134,586 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget PUBLIC SAFETY (Cont'd) McMicken Dam Project $ 3,424,000 McMicken Dam Rehab Phase 3 $ 10,974,014 $ 8,173,296 $ 2,800,718 1,770 57,511 (55,741) 330,000 333,812 (3,812) N 20th St At Lookout Mountain Park Drainage Mitigati 5,250 943 4,307 New River Channel - Major Maintenance 2,292 5,917 (3,625) 10,005,000 9,894,076 110,924 Mockingbird Lane Drainage Improvement Project Oak St Basin and St Dr 253,000 6,936,000 Old Cross Cut Canal - Major Maintenance Paradise Ridge Channel Improvements 5,000 7,500 1,000,000 1,060,000 782,699 277,301 5,000 20,768 (15,768) 4,402 (4,402) Pass Mountain Diversion Channel Pass Mountain Inlet Improvements - Major Maint 7,500 Patton Road at 195th Avenue 508,869 5,450 1,076 4,374 Pecos Road Drainage Improvement 500,000 550,000 5,709 544,291 Pima Road Drainage Channel 5,525,000 6,171,024 2,576,694 3,594,330 Pinnacle Peak Rd & 67th Ave Drainage Impr 2,605,000 2,595,000 26,892 2,568,108 Powerline Floodway - Major Main 100,000 310,000 1,291 308,709 Powerline FRS Channel 20,000 50,000 43,029 6,971 PVR Rehabilitation 2,300,000 2,375,000 1,294,292 1,080,708 Rawhide Wash Flood Hazard Mitigation 8,400,000 (6,491,663) 13,274,127 19,765,790 Reata Pass Drainage Improvements 5,000 321 4,679 Roosevelt St Storm Drain Improvement 355,000 296,076 58,924 Royal Shadows Drainage Improvement Program 417 556 (139) Salt River Channel - Major Maintenance 200 56 144 1,000 607 393 Scott Avenue Wash Emergency Repair Small Project Assistance Prgm 456,419 South Mountain Ave Storm Drain West Sun City Drains Grand at 103rd to New River 1,811 (1,811) 475,000 310,000 5,446 2,754 2,692 Sun City West Drains - Major Maintenance 600,000 13,908 16,279 (2,371) Sun City West Drains Improvements Repairs 400,000 401,721 541,721 (140,000) 5,475 39,366 (33,891) Sun City Rh Johnson Unit 3 Pipin Sun City West Rh Johnson Unit Sunset FRS - Major Maintenance 310,000 5,000 7,500 2,500,000 1,372,000 29,238 1,342,762 145,470 190,453 (44,983) - 3,732 (3,732) 408,655 550,810 (142,155) Watson Drive and Bonarden Lane - 3,562 (3,562) White Tanks 3 Outfall West Access Improvements - 8,439 (8,439) White Tanks 4 Outlet 4,371 4,249 122 White Tanks 4 Rehab 2,000 6,364 (4,364) $ 115,849,145 1,232 $ 98,164,163 (1,232) $ 17,684,982 Superstition Springs Golf Course Lake Tres Rios Levee - Major Maintenance Tres Rios North Levee Rehabilita University Basin Vegetable Debris Removal 22 White Tanks 4 Security Access Total Flood Control $ 77,554,784 281 7,500 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS 111th Ave Peoria Ave to Alabama Ave $ 21,000 $ 23,000 11th Ave Honda Bow to 13th Ave 335,000 51st Ave at Olney Intersection Improvement 152,683 $ (129,683) 879 (879) 2,710 (2,710) 43,000 106,107 (63,107) 4,000 70,442 (66,442) 20th St Cloud Rd to Tamar Rd 227th Ave Montgomery to Dove Valley $ 67th Avenue and Vineyard Rd 306,000 63,000 28,826 34,174 7th St Carefree Hwy to Blue Eagle Ln 438,000 189,000 173,827 15,173 99th Ave at Cameo Dr 150,000 150,000 150,037 (37) 796,000 821,034 (25,034) ARAC MR NE Arterials ARAC MR NW SO Arterials 345,000 113,000 108,292 4,708 ARAC Overlay SO Arterials 420,000 294,000 331,650 (37,650) 52,000 16,693 35,307 120,000 240,000 203,038 36,962 1,161 (1,161) 1,788,774 4,759,226 Bell Rd Communication Enhancements Bethany Home Rd at Citrus Road Broadway Rd 75Th Ave To 51St Av Broadway Rd Bridges At Temple Canal 6,420,000 6,548,000 Bush Hwy Cattle Guard Installation 263 (263) 1,888 (1,888) Camelback Road - Village Parkway to Dysart Rd 31 (31) Camelback Road at Perryville Road Traffic Signal 55 (55) 3,183,854 - 3,183,854 15,000 34,545 (19,545) 319 (319) 1,059,706 (1,050,706) Camelback Rd at Citrus Rd Capacity 1,015,964 Carefree and 36th St Intersection Improvement Carefree Hwy 7th Ave to 48th St Carefree Hwy and 32nd St Intersection Chandler Hts McQueen to Val Vista 2,000 9,000 3,553,000 428,068 (428,068) 2,831,376 (1,371,376) Cooper Rd Prescott Pl To Riggs Rd Improvements IGA 323 (323) Cooper Rd Prescott Pl to Riggs Rd ROW Assistance 101 (101) 35,886 (20,886) Chander Hts Recker to 600 ft E of Power Rd IGA 1,460,000 Cotton Ln at Granite Vista Loop Intersection Impr 5,000 Cotton Lane At Orangewood Ave Deer Valley El Mirage To Lk P 46,000 DMIT-White Tanks Area 4 Dove Valley Rd 171st Ave To 163rd Ave 15,000 25,000 12 24,988 46,000 146,929 (100,929) 16,000 2,939,000 1,931 14,069 18,217 (18,217) Dreamland Villa Rehab Units 1-10 14 Velda Rose 414,000 258,000 261,784 (3,784) Dreamland Villa / Granite Reef Velda Rose 434,000 139,000 159,412 (20,412) Dust Mitigation 991,956 8,991,948 - 8,991,948 210,000 272,329 (62,329) 311,000 16,000 31,068 (15,068) Eagle Eye Rd at Tiger Wash 10,482,000 11,147,000 13,207,917 (2,060,917) Ellsworth Rd and Pueblo Ave 132,000 170,000 257,311 (87,311) Dysart Ave Overpass Dysart Rd and Rose Ln Intersection Figs Springs LVR 4,793 (4,793) 39,793 (29,793) Gavilan Pk Pkwy and Cloud Rd 757,083 (757,083) Gavilan Pk Pkwy and King Dr 7,950 (7,950) Gavilan Pk Pkwy and Navigation Way 5,854 (5,854) Germann Lindsay Row Assistance IGA 468,712 (468,712) 162 (162) Fort McDowell and Mohave Intersection Impr 10,000 Gila River Bridge at Old US 80 282 10,000 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget $ 26,490,000 $ 37,468,937 $ 33,449,700 55,000 HIGHWAYS AND STREETS (Cont'd) Gilbert Road Bridge Glendale Ave and Cotton Lane $ 4,019,237 118,177 (63,177) Happy Valley Rd and Dysart Intersection Imprv 1,677 (1,677) Happy Valley Rd and El Granada Intersection 1,876 (1,876) High Friction Surface Trmt Pilot Project 2,870 (2,870) 86,997 (86,997) HIPR - McDowell Mountain Rd 2,000 Hunt Hwy SR87 to McQueen Road 527,865 (527,865) Intelligent Trans Syst ITS 25 (25) Laveen Area (29) 29 229,090 (229,090) Lindsay Rd Spur Rd to Layton Lakes Blvd IGA 1,410,000 Litchfield Rd N Pkwy To Peoria Lower Buckeye 71st to 67th Ave 356,000 Luke Wash at Old US 80 Restoration 7,885 (7,885) 405,016 (49,016) 437,308 (437,308) 7,067,408 5,353,295 - 5,353,295 1,180 (1,180) MC 85 107th Ave to 91St Ave 3,405,000 3,640,000 1,358,906 2,281,094 MC85 91st Ave 9,975,000 9,177,000 6,614,277 2,562,723 1,555 (1,555) 2,120,000 2,690,000 3,384,423 (694,423) 99 (99) 11,057,000 9,124,568 10,291,670 (1,167,102) 74,000 83,209 (9,209) Meeker Blvd At Granite Valley Dr 667,000 676,000 484,035 191,965 NE Locals Overlay 700,000 1,094,083 (1,094,083) MAG ALCP Projects Mash Guardrail Evaluation - NE Area MC85 at 83rd Ctr Turn Ln Exp MC85 At Verrado Way McDowell Rd at Jackrabbit Tr McKellips Rd I10 to Alma Schl Meeker Blvd and Echo Mesa Dr Northern Ave Citrus Rd & Cotton Ln at Maryland Northern Parkway Agua Fria To 99th Ave Scoping 6,676 (6,676) 1,400,433 (23,433) 10,568,000 1,377,000 10,000 735 9,265 Northern Pkwy Northern at L101 4,121,000 2,070,000 2,459,219 (389,219) NPKWY EL Mirage Alt Acc 2,521,000 2,210,608 873,316 1,337,292 369,000 37 368,963 Ocotillo Rd Signal Butte to Meridian 58 (58) Old Price Rd Riggs Rd to Bartlett Way Alignment 49 (49) Old US 80 HFST Prep 24 (24) 67,650 (42,650) Northern Parkway Phase II Ocotillo Gilbert Rd to 148th St Old US 80 Patterson to Agua Caliente 25,000 Olive Ave Reems to Litchfield Olive Ave Sr 303 To Sarival Ave 278 (278) 127,134 (50,134) 8,130,000 77,000 750 937 (187) Patton Rd at 195th Ave 23,000 12,000 100,504 (88,504) Peak View Lvr 486,000 278,000 160,517 117,483 Peoria Ave Citrus Rd To Sr 303 546,000 463,000 156,897 306,103 1,009 (1,009) Power Rd Pecos to SR 202 146 (146) Power Rd South of Warner to Baseline 140 (140) 3,548 46,452 109,827 (109,827) 59,038 240,962 Palo Verde Rd Bridge at RID Pinnacle Vista Dr 40Th To 46Th St Prop Mgmt Prior Years Project 50,000 50,000 300,000 300,000 Riggs Rd I-10 to Dobson Rd Row In Fill Road Inventory Sys 283 Maricopa County Schedule of Capital Projects – Budget and Actual All Capital Improvement Projects Year Ended June 30, 2024 Budgeted Amounts Original Actual Amounts Final Variance with Final Budget HIGHWAYS AND STREETS (Cont'd) San Tan Blvd and Power Road $ Skunk Creek Crossings Circle Mtn 19Th Ave $ 1,472,000 $ 2,494,000 7,758 $ (7,758) 522,980 1,971,020 499,923 Sossaman RR crossing at Germann Rd 500,000 500,000 77 Southern Ave 41st to 39th Ave 688,000 3,208,110 2,850,920 357,190 - 16,530 (16,530) 245,000 148,004 96,996 SR 101L RCBC Extension Stardust Blvd Amigo Dr to Sunglow Dr 250,000 Sun City A10-N74 and N75 ADA Ramps - 1,880 (1,880) Sun City A10-N85 ADA Ramps - 34,179 (34,179) Sun City West A9-N39 ADA Ramps Sun City West Canal Crossing Sun City West unit 25 35 38A 40 41 42 43 and 44 - 42 (42) 55,400 14,974 40,426 - 11,302 (11,302) 113,000 146,779 (33,779) Sun City West Units 35 38A 40 ADA Ramps - 3,984 (3,984) Sun Lakes Rehab Units 1-10 and 41 - 131 (131) 6,957,000 10,930,767 10,321,411 609,356 - 104 (104) 8,234,751 1,922,234 - 1,922,234 523,000 893,000 776,280 116,720 - 753 (753) 100,000 100,000 80,813 19,187 26,000 158,267 (132,267) 2,808,218 3,763,818 - 3,763,818 Sun City West Units 35 38A 40 193,000 Sun Lakes Rehab Units 11-22 Sun Valley Parkway Restoration Phase 4 System Preservation Tonto Hills Lvr Package 1 Tonto Hills Water Line Traffic Calming Traffic Management Transportation System Management Tuthill Rd Bridge Restoration University Dr Higley Rd To Power Rd 1,205,000 1,050,092 154,908 3,259,000 4,268,000 1,264,425 3,003,575 550,000 - 550,000 908,000 4,044,008 8,963,086 (4,919,078) Van Buren At Jackrabbit Tr Vulture Mountain Recarea Roads White Tank Park Entrance - 243 (243) 20,000 136,421 (116,421) 90,000 $ 144,512,297 90,000 $ 144,512,297 327,660 $ 114,939,132 (237,660) $ 29,573,165 $ $ $ $ $ $ Wintersburg Rd Buckeye Rd to Van Buren St Yuma At Jackrabbit Trail Total Highways and Streets CULTURE AND RECREATION Library District Capital Improvement Fund Anthem Library Building Central Sort Library Total Culture and Recreation 284 9,000,000 500,000 9,500,000 $ 9,000,000 99,712 9,099,712 $ 400,288 400,288 Financial Section Combining and Individual Fund Statements 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. 287 Maricopa County Combining Statement of Net Position All Internal Service Funds June 30, 2024 Equipment Services Technology Infrastructure Sheriff Warehouse ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer $ $ 2,641,651 9,839,584 1,179,153 119,678 3,820,804 12,177,761 Receivables: Accounts Accrued interest 45,629 Inventories 1,214,213 2,172,870 Prepaids Total current assets 1,214,213 Noncurrent assets: Buildings and improvements 16,280,574 Land 92 Machinery and equipment 3,487,262 58,106,425 (2,795,036) 155,236 (59,955,850) 225,857 847,462 18,682,533 4,668,266 30,860,294 Deferred outflows related to pensions and OPEB 704,900 1,375,747 Total deferred outflows of resources 704,900 1,375,747 1,475,393 2,424,892 680,987 1,300,591 Intangibles 4,025,435 Accumulated depreciation Other postemployment benefits (OPEB) Total noncurrent assets Total assets 1,214,213 DEFERRED OUTFLOWS OF RESOURCES LIABILITIES Current liabilities: Accounts payable Employee compensation payable 40,891 Accrued liabilities 891 Due to other funds 525,223 Interest payable Leases payable 65,427 Liability for reported but unpaid and incurred but not reported claims Total current liabilities 2,156,380 3,790,910 4,519,475 1,750,584 8,844,584 567,005 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims Leases payable Net pension liability Total noncurrent liabilities 4,519,475 10,595,168 Total liabilities 6,675,855 14,386,078 Deferred inflows related to pensions and OPEB 285,964 524,452 Total deferred inflows of resources 285,964 524,452 692,226 155,236 (2,436,115) (1,588,653) 16,640,665 225,857 458,989 17,325,511 567,005 DEFERRED INFLOWS OF RESOURCES NET POSITION Net investment in capital assets Restricted for Other Postemployment Benefits (OPEB) Unrestricted (deficit) $ Total net position (deficit) 288 $ $ 647,208 647,208 Maricopa County Combining Statement of Net Position All Internal Service Funds (Continued) June 30, 2024 Risk Management Employee Benefits Trust Total ASSETS Current assets: Cash in bank and on hand $ Cash and investments held by County Treasurer 100 $ 10,377,915 Receivables: Accounts Accrued interest 61,917 Inventories Prepaids Total current assets 5,666,241 $ 5,666,341 101,786,925 124,646,075 7,815,000 7,815,000 545,217 652,763 10,200,464 2,164,101 2,513,044 14,537,435 20,640,396 117,977,484 155,830,658 Noncurrent assets: Buildings and improvements 16,280,574 Land 92 Machinery and equipment 92,950 Intangibles 6,135 61,692,772 (6,135) 55,906 (63,234,001) 506,939 961,412 Accumulated depreciation 4,986,847 (476,980) 69,940 Other postemployment benefits (OPEB) Total noncurrent assets Total assets 647,322 55,906 20,233,223 21,287,718 118,033,390 176,063,881 364,601 259,111 2,704,359 364,601 259,111 2,704,359 1,366,816 1,078,614 6,386,606 404,082 265,918 2,651,578 7,751,498 7,752,389 DEFERRED OUTFLOWS OF RESOURCES 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 525,223 Interest payable Leases payable Liability for reported but unpaid and incurred but not reported claims Total current liabilities 185,714 17,298,000 19,006,374 251,141 36,304,374 19,254,612 28,102,404 53,871,311 Noncurrent liabilities: Liability for reported but unpaid and incurred but not reported claims 47,100,696 Leases payable 47,100,696 390,699 2,340,873 1,661,656 2,141,283 17,366,588 Total noncurrent liabilities 49,832,268 1,661,656 66,608,567 Total liabilities 69,086,880 29,764,060 120,479,878 Deferred inflows related to pensions and OPEB 143,392 104,612 1,058,420 Total deferred inflows of resources 143,392 104,612 1,058,420 969 69,940 55,906 17,333,860 506,939 Net pension liability DEFERRED INFLOWS OF RESOURCES NET POSITION Net investment in capital assets Restricted for Other Postemployment Benefits (OPEB) Unrestricted (deficit) (47,648,862) Total net position (deficit) $ 289 (47,577,953) 88,367,923 $ 88,423,829 39,389,143 $ 57,229,942 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds Year Ended June 30, 2024 Equipment Services Technology Infrastructure Sheriff Warehouse OPERATING REVENUES Charges for services $ Miscellaneous 21,630,031 83,241 $ 46,702,972 27,475 21,713,272 46,730,447 Personal services 5,836,959 12,098,824 Supplies 10,997,144 1,794,571 Other services 1,564,681 19,589,800 16,530 38,362 Total operating revenues $ 3,141,252 3,141,252 OPERATING EXPENSES 3,111,751 Legal Insurance and claims Leases and rentals Repairs and maintenance 2,829,441 20,604 Travel and transportation 30,209 136,173 Utilities 165,932 318,157 10,503,988 10,930,448 Total operating expenses 21,759,053 55,112,770 3,111,751 Operating income (loss) (45,781) (8,382,323) 29,501 Depreciation NONOPERATING REVENUES (EXPENSES) Investment income Interest expense Gain (loss) on disposal of capital assets Total nonoperating revenues (expenses) Income (loss) before contributions and transfers 22,185 400,203 19,876 (70,867) (732,252) 42,061 (402,916) (3,720) (8,785,239) Capital contributions 522,632 3,500 Transfers in Change in net position Total net position (deficit), July 1, 2023 Total net position (deficit), June 30, 2024 29,501 $ 290 (220) (8,262,607) 29,501 (1,588,433) 25,588,118 617,707 (1,588,653) $ 17,325,511 $ 647,208 Maricopa County Combining Statement of Revenues, Expenses, and Changes in Net Position All Internal Service Funds (Continued) Year Ended June 30, 2024 Employee Risk Management Benefits Trust Total OPERATING REVENUES Charges for services $ Miscellaneous Total operating revenues 50,142,705 499,575 $ 201,872,208 2,017 $ 323,489,168 612,308 50,642,280 201,874,225 324,101,476 3,061,022 2,167,035 23,163,840 73,736 14,906 15,992,108 3,386,680 198,031,367 222,572,528 34,766,611 OPERATING EXPENSES Personal services Supplies Other services Legal 2,841,847 Insurance and claims 28,717,564 6,049,047 3,174 19,249 77,315 3,615 2,853,660 Leases and rentals 2,841,847 Repairs and maintenance Travel and transportation 29,258 Utilities 2,203 197,843 10,669,920 11,440,887 192,282 Depreciation Total operating expenses 38,305,563 206,287,422 324,576,559 Operating income (loss) 12,336,717 (4,413,197) (475,083) 589,165 4,923,923 5,935,476 NONOPERATING REVENUES (EXPENSES) Investment income Interest expense Gain (loss) on disposal of capital assets (71) Total nonoperating revenues (expenses) Income (loss) before contributions and transfers (70,938) (712,376) 589,094 4,923,923 5,152,162 12,925,811 510,726 4,677,079 Capital contributions 522,632 3,500 Transfers in Change in net position Total net position (deficit), July 1, 2023 Total net position (deficit), June 30, 2024 $ 291 12,925,811 510,726 5,203,211 (60,503,764) 87,913,103 52,026,731 (47,577,953) $ 88,423,829 $ 57,229,942 Maricopa County Combining Statement of Cash Flows All Internal Service Funds Year Ended June 30, 2024 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 21,537,621 $ 105,479 Net cash provided by operating activities 46,594,700 $ 3,141,252 108,272 83,241 27,475 (15,327,162) (5,722,049) (32,491,088) (9,795,469) (3,351,158) 677,130 4,443,890 (209,906) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Interest payments Loan repaid to General Fund Net cash used for noncapital financing activities 209,906 209,906 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Proceeds from disposal of assets (61,232) (2,913,265) 21,043 Principal paid on lease debt Interest paid on lease debt Cash transfers from other funds Net cash used for capital and related financing activities 3,500 (36,689) (5,084,729) CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash used for investing activities 22,185 22,185 397,686 397,686 (2,100,597) (70,867) Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1, 2023 $ Cash and cash equivalents, June 30, 2024 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 - current 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 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 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 292 662,626 (243,153) 1,979,025 10,082,737 2,641,651 $ 9,839,584 $ (45,781) $ (8,382,323) $ 318,157 29,501 10,930,448 13,069 (61,800) (37,237) (168,854) (1,831,131) 34,849 (299,288) 338,575 1,460,778 40,925 169,374 70,201 2,370,131 (31,065) 63,138 (70,509) (44) $ 677,130 $ 4,443,890 $ $ (211,395) $ (3,422,086) $ 210,228 1,167 3,419,944 2,142 (1,682,182) 952,072 730,110 15,428,370 (14,905,738) (522,632) (209,906) Maricopa County Combining Statement of Cash Flows All Internal Service Funds (Continued) Year Ended June 30, 2024 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 $ Net cash provided by operating activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Interest payments Loan repaid to General Fund Net cash used for noncapital financing activities Risk Employee Benefits Management Trust 50,142,705 $ Total 176,057,613 $ 24,473,294 499,575 2,017 24,795,807 612,308 (48,300,367) (2,751,055) (198,587,740) (2,090,222) (298,057,515) (20,358,795) (300,380) (145,038) 4,465,696 (71) (71) 209,906 209,835 (71) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets Proceeds from disposal of assets Principal paid on lease debt Interest paid on lease debt Cash transfers from other funds Net cash used for capital and related financing activities 297,473,891 108,762 (2,974,497) 21,043 (179,572) (2,280,169) (25,784) (96,651) 3,500 (5,326,774) (205,356) CASH FLOWS FROM INVESTING ACTIVITIES Interest and dividends Net cash used for investing activities 574,897 574,897 Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, July 1, 2023 Cash and cash equivalents, June 30, 2024 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 - current Liability for reported but unpaid and incurred but not reported claims 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 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 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 293 4,816,262 4,816,262 5,811,030 5,811,030 69,090 4,671,224 5,159,787 10,308,925 102,781,942 125,152,629 $ 10,378,015 $ 107,453,166 $ 130,312,416 $ 12,336,717 $ (4,413,197) $ (475,083) 192,282 11,440,887 (1,761,000) 2,590,463 829,463 (7,862,415) (7,862,415) 108,762 (1,341,301) (1,219,470) (951,476) (1,109,331) (3,891,938) (267,891) $ $ (18,758) 7,361 (275,836) (2,673,217) 238,947 (705,426) 72,391 20,086 302,776 259,559 58,948 2,758,839 (3,225) 3,812,568 (9,582) 3,812,524 19,266 (300,380) $ $ (145,038) $ 4,465,696 $ (3,633,481) 3,630,172 3,309 (1,682,182) 952,072 730,110 15,428,371 (14,905,738) (522,633) 294 Financial Section Combining and Individual Fund Statements 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. 297 Maricopa County Combining Statement of Fiduciary Net Position Custodial Funds June 30, 2024 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 5,415,810,794 Property tax receivable for other governments Interest receivable Total assets 31,868,601 $ 5,447,679,395 $ 26,726,984 247,094,836 $ 273,821,820 30,521,611 $ 30,521,611 159,980,428 186,707,412 113,083 $ 190,615,122 247,094,836 113,083 464,436,942 $ Liabilities Property tax payable to other governments Total liabilities 26,726,984 26,726,984 26,726,984 26,726,984 Net position Restricted for: Pool participants Individuals, organizations, and other governments Total net position 5,447,679,395 247,094,836 $ 5,447,679,395 $ 247,094,836 298 190,615,122 $ 190,615,122 437,709,958 $ 437,709,958 Maricopa County Combining Statement of Changes in Fiduciary Net Position Custodial Funds Year Ended June 30, 2024 Other External Investment Pool Property Tax Collections Special Purpose Total Other Additions: Contributions from pool participants $ 11,159,449,357 $ Property tax collections for other governments $ $ 5,634,875,039 5,634,875,039 Fine, fees, and forfeitures collected for other governments 119,710,687 119,710,687 727,435 727,435 727,435 727,435 26,756,803 26,756,803 147,194,925 5,782,069,964 Investment earnings: Interest and dividends Net increase (decrease) in fair value of investments 141,186,942 77,518,826 218,705,768 Total investment earnings Other 11,378,155,125 Total additions 5,634,875,039 Deductions Distributions to pool participants 10,604,381,500 Property tax distributions to other governments Fines, fees, and forfeitures distributed to other governments 5,620,905,451 5,620,905,451 Other Total deductions Net increase (decrease) in fiduciary net position Net position, July 1, 2023 Net position, June 30, 2024 $ 131,491,229 131,491,229 18,900,560 18,900,560 10,604,381,500 5,620,905,451 150,391,789 5,771,297,240 773,773,625 13,969,588 (3,196,864) 10,772,724 4,673,905,770 233,125,248 193,811,986 426,937,234 5,447,679,395 299 $ 247,094,836 $ 190,615,122 $ 437,709,958 300 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. 304 Net Position by Component Changes in Net Position Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds Revenue Capacity 310 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 315 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 318 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 320 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 303 Maricopa County Net Position by Component Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year NET POSITION 2014-15 2015-16 2016-17 2017-18 2018-19 $ 3,290,683,747 $ 3,344,675,215 $ 3,398,536,569 $ 3,540,327,347 $ 3,775,784,925 207,841,344 (347,913,774) Unrestricted Total governmental activities net position (2) $ 3,150,611,317 562,881,286 (767,502,521) $ 3,140,053,980 706,572,442 (941,448,887) $ 3,163,660,124 657,310,403 529,365,206 (1,184,406,509) (887,071,085) $ 3,013,231,241 $ 3,418,079,046 $ 22,487,405 $ 54,519,520 $ 72,367,100 $ 69,913,021 $ 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 $ 6,487,405 (1,980,230) 74,420,196 Governmental activities Net investment in capital assets Restricted Business-type activities (1) Net investment in capital assets $ 26,261,574 Total business-type activities net position (2) $ 1,335,851 (90,428) 27,506,997 Restricted Unrestricted Primary government Net investment in capital assets $ 3,316,945,321 $ 3,367,162,620 $ 3,453,056,089 $ 3,612,694,447 Restricted 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) $ 3,218,030,534 662,252,576 535,852,611 (1,188,781,215) (889,051,315) $ 3,086,165,808 $ 3,492,499,242 2019-20 2020-21 2021-22 2022-23 2023-24 $ 3,808,175,194 $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 $ 4,290,972,163 588,854,025 (718,666,721) Unrestricted Total governmental activities net position (2) $ 3,678,362,498 648,776,170 (497,030,965) $ 4,033,379,664 701,204,479 (109,817,297) $ 4,545,035,152 921,643,459 17,698,626 $ 4,954,259,322 829,509,527 520,783,115 $ 5,641,264,805 Unrestricted Total primary government net position (2) $ 3,845,697,946 Fiscal Year NET POSITION Governmental activities Net investment in capital assets Restricted Business-type activities (1) Net investment in capital assets $ 79,796,197 Total business-type activities net position (2) $ 5,699,657 (562,617) 84,933,237 Restricted Unrestricted Primary government Net investment in capital assets $ 3,887,971,391 $ 3,881,634,459 $ 3,953,647,970 $ 4,014,917,237 $ 4,290,972,163 Restricted 594,553,682 (719,229,338) $ 3,763,295,735 648,776,170 (497,030,965) $ 4,033,379,664 701,204,479 (109,817,297) $ 4,545,035,152 921,643,459 17,698,626 $ 4,954,259,322 829,509,527 520,783,115 $ 5,641,264,805 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, 2022, and 2023 restatements to net position. 304 Maricopa County Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) Fiscal Year Expenses Governmental activities: General government: Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Interest on long-term debt Total governmental activities expenses Business-type activities: (1) Housing Authority Total business-type activities expenses Total primary government expenses Program Revenues Governmental activities: Charges for services: General government Public safety Highways and streets Health, welfare and sanitation Culture and recreation Education Operating grants and contributions Capital grants and contributions Total governmental activities program Business-type activities: (1) Charges for services: Housing Authority Operating grants and contributions Capital grants and contributions Total business-type program revenues Total primary gov’t program revenues 2019-20 2020-21 2021-22 2022-23 2023-24 $ 181,797,152 983,331,133 96,484,146 524,347,318 50,944,557 25,727,303 5,148,586 $ 224,110,276 1,053,190,489 186,689,526 651,910,529 50,895,104 25,050,440 6,775,142 $ 231,820,454 1,196,705,109 126,498,359 919,001,491 56,826,436 24,428,055 7,846,000 $ 282,490,554 1,189,756,597 121,359,034 855,376,167 57,100,027 22,917,773 5,230,128 $ 335,518,167 1,377,039,062 186,637,772 878,967,437 68,613,208 22,630,390 8,017,533 $ 360,086,682 1,423,307,636 130,166,899 858,019,574 72,405,714 9,327,080 4,408,813 2,322,183,289 1,867,780,195 2,198,621,506 2,563,125,904 2,534,230,280 2,877,423,569 2,857,722,398 21,540,873 21,540,873 26,543,652 26,543,652 29,808,837 29,808,837 28,013,475 28,013,475 $ 2,023,378,299 $ 2,073,315,644 $ 2,348,726,941 $ 1,897,589,032 $ 2,226,634,981 $ 2,563,125,904 $ 2,534,230,280 $ 2,877,423,569 $ 2,857,722,398 $ $ $ $ $ $ $ $ $ 2014-15 2015-16 2016-17 2017-18 $ 298,074,702 1,134,891,006 163,763,533 408,240,433 56,569,834 28,791,958 4,568,950 $ 298,879,283 1,105,661,191 76,998,103 423,976,768 57,510,396 30,388,968 7,793,505 $ 299,036,354 1,151,866,658 81,764,699 421,783,977 54,634,235 32,487,572 10,201,276 $ 335,684,108 1,258,047,273 110,921,809 510,564,865 68,111,240 32,177,201 6,676,793 2,094,900,416 2,001,208,214 2,051,774,771 23,483,448 23,483,448 22,170,085 22,170,085 $ 2,118,383,864 $ 21,160,957 140,199,614 12,462,039 53,105,959 15,778,337 1,536,658 280,244,440 31,634,976 556,122,980 25,333,842 146,926,079 12,697,999 53,314,590 16,899,346 1,482,306 299,738,864 48,872,828 605,265,854 33,053,012 144,995,226 21,201,835 57,117,315 18,850,252 303,176 291,283,576 43,627,038 610,431,430 28,441,286 144,081,188 21,803,762 56,571,939 21,064,986 276,902 314,298,745 28,675,007 615,213,815 2018-19 30,763,639 144,795,378 20,481,717 57,681,166 17,582,925 443,333 277,291,845 31,546,098 580,586,101 51,880,544 140,595,616 21,907,005 55,927,380 17,250,204 469,269 374,699,238 29,527,666 692,256,922 5,717,592 16,300,111 337,818 4,656,105 17,062,511 280,121 3,080,820 17,720,704 23,354,184 5,432,500 18,735,718 20,696,076 6,117,889 20,857,185 3,945,673 6,531,775 17,754,740 12,375,329 22,355,521 $ 578,478,501 21,998,737 $ 627,264,591 44,155,708 $ 654,587,138 44,864,294 $ 660,078,109 30,920,747 $ 611,506,848 36,661,844 $ 728,918,766 305 80,821,088 138,100,069 21,789,454 59,335,787 19,306,045 24,700 634,413,147 22,051,183 975,841,473 $ 975,841,473 72,486,783 138,346,450 25,210,662 67,204,222 19,280,449 819,385 632,094,057 24,506,537 979,948,545 $ 979,948,545 56,325,645 141,580,655 51,294,614 61,838,713 21,468,299 1,210,741 585,082,052 25,704,539 944,505,258 $ 944,505,258 59,437,630 155,518,757 26,183,445 159,860,075 19,322,504 1,215,000 583,167,909 80,135,158 1,084,840,478 $ 1,084,840,478 Maricopa County Changes in Net Position (Continued) 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 $ (1,538,777,436) $ (1,127,927) (1,395,942,360) (171,348) $ (1,441,343,341) $ (1,706,969,474) $ (1,287,194,094) 22,614,835 18,320,642 1,111,910 $ (1,506,364,584) $(1,587,284,431) 8,648,369 $(1,554,281,735) $ (1,932,918,311) $ (1,772,881,920) $ (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) $ (1,772,881,920) $ $ $ $ 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 460,057,355 $ 492,533,082 528,258,272 $ 555,750,125 $ 593,694,954 43,266,625 Property taxes, levied for Street Light District 19,677,385 6,014,834 49,311,618 58,160,420 62,216,487 19,624,840 4,651,612 20,361,928 4,802,705 21,525,613 5,488,949 Unrestricted share of state sales taxes 476,452,381 497,359,100 520,259,714 Sales tax – Jail construction & operation 140,492,834 146,246,549 4,915,704 4,772,596 135,043,057 Grants and contributions not restricted to specific programs Unrestricted investment earnings Property taxes, levied for Library District Surcharge tax – Stadium District Unrestricted share of state vehicle lic. tax Miscellaneous Total governmental activities $ 627,273,672 $ 667,714,689 65,992,307 70,471,344 75,320,159 22,817,801 5,806,391 24,236,319 25,710,591 5,694,636 552,699,587 589,779,232 152,780,682 161,856,282 4,740,138 5,973,721 146,241,079 152,286,541 162,544,146 2,749,905 3,285,655 3,153,762 3,542,818 6,720,371 8,411,227 6,422,992 11,828,376 682,211,005 670,387,860 $ 681,741,975 80,260,117 75,680,136 77,055,073 27,508,646 26,451,216 26,893,877 4,357,486 4,467,376 4,560,197 5,350,756 622,830,699 727,604,497 866,717,711 920,121,746 952,466,018 172,789,542 182,556,542 210,484,572 249,052,141 270,221,440 279,052,570 6,003,193 4,882,593 3,842,556 6,558,390 7,660,619 7,544,934 172,111,273 173,793,081 197,558,288 194,915,156 207,248,974 214,066,487 1,695,129 1,709,483 1,932,630 3,625,878 3,838,049 4,150,595 44,936,986 45,026,659 2,571,499 (104,256,572) 48,239,269 138,444,500 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 73,120,618 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 2,459,887,403 14,229 293,214 Business-type activities: (1) Unrestricted investment earnings 44,661 14,686 3,516 Gain (loss) on disposal of capital assets 409,657 2,513,522 10,408 Miscellaneous 356,833 1,809,260 336,929 229,286 80,505 Special item – repayment agreement. (468,781) Special item – forgiveness of debt 275,553 617,923 350,853 243,515 373,719 Total business-type activities Total primary government 4,337,468 271,740 1,234,236 358,696 1,864,672 $ 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 $ 2,459,887,403 $ (231,585,878) $ $ $ 355,017,166 $ 511,655,488 $ 346,445,818 $ 687,005,483 355,017,166 $ 511,655,488 $ 346,445,818 $ 687,005,483 Change in Net Position Governmental activities Business-type activities (1) Total primary government (510,004) $ (232,095,882) $ (10,557,337) 4,166,120 22,965,688 (6,391,217) (1) 23,606,144 $ (150,428,883) $ $ 18,564,157 46,571,832 $ (131,864,726) $ 404,847,805 1,485,629 406,333,434 Beginning in FY21, the County has no business-type activities. 306 262,669,841 $ 10,513,041 $ 273,182,882 $ Maricopa County Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2015-16 2014-15 2016-17 2017-18 2018-19 General Fund Nonspendable $ 13,987,368 82,953,184 16,042,494 $ 116,401,095 $ 133,944,163 14,096,188 162,027,719 $ $ $ 4,219,798 $ $ 17,405,417 $ 9,160,980 $ 3,117,940 $ 2,900,922 184,441,837 32,584,403 220,144,180 $ 211,707,531 25,752,261 240,360,714 181,008,620 $ 4,674,317 $ 3,525,455 $ Restricted Committed Assigned Unassigned Total general fund 134,647,118 37,200,522 All Other Governmental Funds Nonspendable 4,897,508 3,440,019 Restricted 660,382,287 589,023,438 604,371,629 635,874,336 545,448,438 Committed 591,699,861 573,918,793 523,158,485 463,839,100 553,189,236 (5,105,739) $ 1,251,873,917 (7,626,568) (25,927,760) $ 1,159,535,461 $ 1,106,276,671 (11,300,036) $ 1,091,938,855 (9,003,731) $ 1,093,073,962 2019-20 2020-21 2022-23 2023-24 Assigned Unassigned Total all other governmental funds (a) Fiscal Year 2021-22 General Fund Nonspendable $ 3,586,438 $ 3,414,556 166,454,076 133,527,954 $ 303,568,468 $ 440,118,199 177,293,640 620,826,395 $ $ 10,303,661 $ 4,567,866 $ 5,470,789 $ 5,739,628 683,820,008 22,775,281 $ 711,163,155 $ 429,119,084 11,866,022 446,455,895 $ 413,039,268 $ $ 8,714,784 $ 7,572,741 Restricted Committed Assigned Unassigned Total general fund 407,299,640 All Other Governmental Funds Nonspendable 5,565,851 9,964,822 Restricted 673,961,703 680,442,244 1,199,101,971 1,055,307,227 723,136,113 Committed 641,767,542 637,940,735 886,672,204 987,029,393 1,269,870,979 (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 (33,731,579) $ 1,966,848,254 Assigned Unassigned Total all other governmental funds (a) 307 Maricopa County Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) Fiscal Year 2014-15 2015-16 2016-17 2017-18 Revenues Taxes $ 658,661,300 $ 700,515,589 $ 750,405,039 $ 795,277,329 Licenses and permits 46,201,667 48,262,561 48,700,983 49,810,802 Intergovernmental 918,331,602 981,754,741 998,720,971 1,055,046,783 Charges for services 159,083,257 168,530,522 185,427,699 179,472,435 Fines and forfeits 25,235,245 25,493,837 26,310,542 24,538,265 Special assessments 6,014,834 4,651,612 4,802,705 5,696,239 Interest income 6,074,604 16,239,536 8,430,222 14,674,505 6,759,042 42,248,589 11,762,370 14,643,036 1,835,842,045 1,952,313,589 2,063,375,570 2,136,247,259 Settlement Revenue Miscellaneous Total revenues Expenditures General government 149,081,146 150,486,509 166,780,945 158,063,474 1,005,051,315 1,028,863,167 1,052,402,924 1,009,352,169 Highways and streets 54,006,764 53,598,284 60,715,322 68,695,845 Health, welfare and sanitation 404,729,045 420,071,249 418,692,520 512,762,868 Culture and recreation 36,529,631 39,798,518 36,493,895 38,469,355 Education 28,096,030 30,097,656 32,585,868 32,652,609 Principal 17,866,397 11,306,342 159,062,866 128,699,375 Interest 4,726,682 13,032,602 10,201,276 6,683,405 Other 1,215,938 26,350 182,229 776,046 Public safety Debt service Payment to escrow agent Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures 213,487,827 236,196,502 208,901,034 270,958,232 1,914,790,775 1,983,477,179 2,146,018,879 2,227,113,378 (78,948,730) (31,163,590) (82,643,309) (90,866,119) Other financing sources (uses) Transfers in 379,355,888 400,522,300 514,645,299 653,076,678 Transfers out (379,281,420) (400,522,300) (514,576,467) (653,117,823) 8,329,091 13,886,373 3,404,460 126,974 44,460,000 106,295,000 Financed purchase agreements Subscription-based IT arrangements (SBITA) Proceeds from bond issuance 185,580,000 Premium on refunding bonds 15,633,417 10,119,673 Payment to escrow agent (29,910,000) Lease agreements Total other financing sources (uses) Net change in fund balances 209,616,976 $ 130,668,246 (16,023,627) $ (47,187,217) 47,933,292 $ (34,710,017) 116,500,502 $ 25,634,383 Debt service as a percentage of noncapital expenditures 1.3%(a) 1.4% (a) Data was adjusted in fiscal year 2021. 308 8.5% 6.7%(a) Fiscal Year 2018-19 $ 847,090,715 2019-20 $ 892,237,482 2020-21 $ 2022-23 2021-22 970,262,622 $ 1,031,994,962 $ 1,037,953,474 2023-24 $ 1,056,994,759 50,182,867 49,279,753 55,560,181 57,136,064 54,810,300 57,912,147 1,099,920,175 1,213,427,734 1,592,630,744 1,715,223,820 1,756,696,959 1,805,890,177 179,199,628 201,807,783 203,773,234 205,379,066 216,515,544 202,956,330 22,608,121 18,393,799 17,345,362 17,380,120 18,130,740 5,806,391 5,694,636 4,357,486 4,467,376 4,560,197 5,350,756 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 46,812,257 146,854,134 76,873,413 2,266,611,132 2,444,742,135 2,872,017,676 2,990,028,572 3,194,460,129 3,405,384,302 33,785,292 18,767,294 164,077,141 175,916,391 191,883,280 228,140,297 224,169,318 263,546,475 1,067,426,744 1,017,005,967 1,052,776,254 1,197,746,043 1,544,872,159 1,557,110,136 72,644,031 83,928,382 82,383,930 85,331,611 94,888,243 91,894,788 529,466,214 636,348,147 906,765,536 847,351,130 857,422,650 858,393,626 42,687,958 42,841,396 46,307,685 47,614,333 52,145,219 60,660,456 26,180,509 24,643,209 23,969,852 22,588,267 21,475,649 15,892,581 27,414,666 66,450,775 64,541,059 95,530,556 379,221,870 381,587,337 5,159,606 6,775,142 7,846,000 6,385,861 9,354,852 7,406,141 2,970 825,546 1,133,346 448,350 304,754,331 267,678,531 229,712,036 287,005,911 407,453,774 500,799,885 2,239,814,170 2,322,413,486 2,606,185,632 2,818,827,355 3,591,003,734 3,737,739,775 26,796,962 122,328,649 265,832,044 171,201,217 (396,543,605) (332,355,473) 506,382,572 596,002,917 508,931,067 940,081,573 1,238,448,689 861,224,282 (511,525,439) (601,002,917) (508,931,067) (940,081,573) (1,238,434,189) (861,227,782) 20,397,791 27,083,511 11,807,957 17,824,516 5,894,810 66,900,079 133,440,000 64,487,674 643,635,000 190,450,000 7,397,084 (5,142,867) $ 21,654,095 1.7% 156,234,875 $ 278,563,524 3.4%(a) 10,185,086 665,628,043 27,083,511 $ 292,915,555 3.0% $ 836,829,260 4.0% 309 14,504,078 275,333,062 84,739,095 $ (311,804,510) 11.9% $ (57,022,411) 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 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 2023-24 770,397,255 952,466,018 229,850,458 136,314,453 0 99.9% 58.4% 39.2% Change 2015-24 50.1% Rental Fiscal Year Car Surcharge 100.0% Street Jail Tax Lighting Assessments Total Revenues 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 2023-24 7,544,934 279,052,570 5,350,756 2,380,976,444 111.7% 98.6% Change 2015-24 (11.0%) 72.2% 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 2022. 310 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 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% 2023-24 50,355,760 4,366,550 54,722,310 1.4068 544,034,659 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 311 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 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 2023-24 1.2044 0.0000 0.1536 0.0488 1.4068 Overlapping Rates Central Arizona State Water Other Community Fiscal Year of Arizona Education Equalization Conservation District Special Districts College District 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 2023-24 0.0000 0.0000 0.1400 0 - 4.4168 1.1388 1.2287 - 9.4429 0 - 2.9823 Source: Maricopa County Office of Budget and Finance All tax rates are per $100 assessed valuation. 312 School Districts Cities Maricopa County Principal Property Taxpayers Current Year and Nine Years Ago 2023-24 2014-15 Percentage of Percentage of Total County Secondary Valuation Taxpayer Rank Assessed Value Total County Secondary Valuation Rank Assessed Value 1,081,236,150 1 3.08% ARIZONA PUBLIC SERVICE COMPANY 1,509,236,953 1 1.65% SALT RIVER PROJECT (T&D) 1,031,776,337 2 1.13% SOUTHWEST GAS CORPORATION (T&D) 229,115,054 3 0.25% 151,458,063 2 0.43% SOUTHERN CALIFORNIA EDISON CO (T&D) 138,385,248 4 0.15% 133,176,587 4 0.38% EL PASO ELECTRIC CO (T&D) 106,034,970 5 0.12% 119,735,509 5 0.34% WAL-MART STORES INC 91,609,244 6 0.10% 95,116,249 6 0.27% TARGET CORPORATION 86,963,656 7 0.09% 54,081,831 12 0.15% ESPLANADE OWNER LP 78,117,951 8 0.09% SMITHS FOOD & DRUG CENTERS INC 76,421,200 9 0.08% 39,298,742 18 0.11% INTEL CORPORATION 75,172,887 10 0.08% 42,107,998 17 0.12% CAMDEN USA INC 72,840,372 11 0.08% PUBLIC SERVICE COMPANY OF NEW MEXICO (T&D) 72,300,593 12 0.08% 69,688,803 9 0.20% BILTMORE CENTER OWNER LLC 70,763,962 13 0.08% PACIFIC PROVING LLC 64,118,038 14 0.07% WELLS FARGO BANK NA 63,166,135 15 0.07% UNION PACIFIC RAILROAD 58,856,870 16 0.06% PORTALES CORPORATE CENTER LLC 54,543,174 17 0.06% BNSF RAILWAY COMPANY 51,303,508 18 0.06% SCOTTSDALE FASHION SQUARE LLC 48,554,211 19 0.05% ARIZONA SOLAR ONE LLC 42,993,000 20 0.05% 77,907,385 7 0.22% QWEST CORPORATION 141,676,486 3 0.40% AT&T 77,886,205 8 0.22% SUNDEVIL POWER HOLDINGS, LLC 65,266,335 10 0.19% VERIZON WIRELESS 64,751,991 11 0.18% NEW HARQUAHALA GENERATING CO, LLC 52,725,000 13 0.15% GILA RIVER POWER, LLC 47,700,029 14 0.14% SOUTHRN CAL PUBLIC PWR AUTH (PALO VERDE) 45,675,174 15 0.13% MESQUITE POWER LLC 44,432,745 16 0.13% SAFEWAY INC. 37,108,597 19 0.11% HOST KIERLAND LP 35,121,020 20 0.10% Total Principal Taxpayers $ Countywide Secondary Valuation $ 91,557,158,470 4,022,273,362 Source: Maricopa County Assessor’s Office. 313 4.40% $ 2,476,150,899 $ 35,079,646,593 7.05% 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 2014-15 505,927,593 495,964,759 98.03 5,070,920 501,035,679 98.12 2015-16 539,956,426 532,594,860 98.64 5,035,597 537,630,457 98.70 2016-17 584,777,057 574,861,219 98.30 5,859,752 580,720,971 98.44 2017-18 619,337,610 608,182,650 98.20 6,805,305 614,987,955 98.69 2018-19 655,074,951 645,049,237 98.47 5,581,564 650,630,801 98.71 2019-20 700,013,306 682,188,952 97.45 11,405,871 693,594,823 98.28 2020-21 741,108,549 730,179,122 98.53 8,561,261 738,740,383 99.03 2021-22 763,298,461 751,571,044 98.46 9,081,584 760,652,629 99.71 2022-23 745,045,377 734,361,550 98.57 6,903,005 741,264,555 78.83 2023-24 763,124,614 747,258,293 97.92 747,258,293 97.92 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 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 2023-24 659,075,503 77,344,624 26,704,487 763,124,614 Source: Maricopa County Office of Budget and Finance 314 Maricopa County Ratios of Outstanding Debt by Type Last Ten Fiscal Years Other Governmental Activities Debt Fiscal Lease Stadium Stadium Year Ended June 30, Revenue Bonds District Rev. Bonds District Loans 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 97,135,000 54,755,000 Certificates Special Assessment 16,010,000 12,685,000 9,280,000 5,800,000 44,727 22,913 14,464 6,813 Bond Premium of Participation Leases 16,046,812 10,809,836 5,211,138 9,650,549 8,042,124 12,555,424 7,886,137 3,216,849 1,608,424 185,580,000 185,580,000 230,040,000 239,530,000 122,185,000 236,125,000 170,870,000 249,525,000 110,955,000 207,350,000 46,283,111 38,071,774 42,792,910 Business-Type Activities Fiscal Year Ended June 30, 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Fiscal Year Ended June 30 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 Subscriptions Financed Purchases 59,616,041 99,772,888 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 23,719,325 Pledged Revenue Obligations 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 Primary of Assessed Government (c) Property Value (a) Per Capita (b) 0.94% 0.83% 0.79% 0.74% 0.40% 0.71% 0.49% 1.72% (2) 0.95% 0.68% 81.10 69.39 67.05 65.99 37.11 68.67(1) 50.20 182.87 (2) 105.39 (2) 78.53 329,578,153 288,159,956 283,830,438 284,776,265 162,025,030 304,688,519 226,237,439 838,741,428 (2) 491,638,711 373,635,123 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. (2) Data was adjusted in fiscal year 2024. 315 Maricopa County Legal Debt Margin Information Last Ten Fiscal Years Fiscal Year Debt limit 2014-15 2015-16 2016-17 2017-18 2018-19 $5,261,946,989 $5,193,550,548 $5,420,324,171 $5,737,783,687 $6,063,484,863 $5,261,946,989 $5,193,550,548 $5,420,324,171 $5,737,783,687 $6,063,484,863 0% 0% 0% 0% 0% 2019-20 2020-21 2021-22 2022-23 2023-24 $6,479,148,959 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 $ 13,733,573,771 $6,479,148,959 $ 6,855,745,472 $ 10,130,251,221 $ 10,835,747,234 $ 13,733,573,771 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 2023-24 Full Cash Value Net Assessed Debt limit (15% of assessed value) $ 91,557,158,470 13,733,573,771 Debt applicable to limit: General obligation bonds Total net debt applicable to limit Legal debt margin $ 13,733,573,771 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. 316 Maricopa County Pledged Revenue Coverage Last Ten Fiscal Years Stadium District Revenue Bonds Net Revenue Available Fiscal Year Gross Revenue For Debt Service (1) Debt Service Requirements Principal Interest Total Gross Coverage Net Coverage 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% 2023-24 0 0 0 0 0 0% 0% Special Assessment Bonds Net Revenue Available Fiscal Year Gross Revenue For Debt Service (1) Debt Service Requirements Principal Interest Total Gross Coverage Net Coverage 2014-15 0 17,554 4,738 4,374 9,112 0% 2015-16 23,361 17,300 21,814 1,801 23,615 99% 193% 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% 2023-24 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. 317 Maricopa County Demographic and Economic Statistics Last Ten Fiscal Years Fiscal Year 2014-15 2015-16 2016-17 2017-18 2018-19 County 5.30% 5.30% 4.50% 4.10% 4.50% State 5.90% 5.80% 5.10% 4.70% 4.90% United States 5.30% 4.90% 4.40% 4.00% 3.70% Unemployment Rate (June 30) Population/Income Statistics Income (in thousands) $ Population Per Capita $ 175,437,829 $ 185,111,698 4,063,700 4,152,800 43,172 $ 44,575 $ 196,779,825 $ 209,719,687 $ 223,097,349 4,233,300 4,315,600 4,366,583 $ 46,484 $ 48,596 $ 51,092 Fiscal Year 2019-20 2020-21 2021-22 2022-23 2023-24 County 10.30% (2) 6.60% 3.30% 3.90% 3.40% State 10.80% (2) 7.30% 3.30% 4.40% 3.90% United States 11.10% (2) 5.90% 3.60% 3.80% 4.30% Unemployment Rate (June 30) Population/Income Statistics Income (in thousands) $ Population Per Capita 245,077,753 $ 4,436,908 (1) $ 55,236 249,677,860 $ 4,506,505 $ 55,404 (2) 268,713,717 $ 4,586,431 (2) $ 58,589 (2) 288,842,282 $ 4,665,020 (2) $ 61,917 (2) $ 312,350,417 4,757,613 65,653 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 2021. (2) Data was adjusted in fiscal year 2024. 318 Maricopa County Principal Employers Current Year and Nine Years Ago 2024 2015 Percentage of Employer Employees Rank Total County Employment Percentage of Employees Rank Total County Employment Banner Health 46,602 1 1.92% 35,406 2 1.86% State of Arizona 41,531 2 1.71% 50,816 1 2.67% Amazon.com 40,000 3 1.65% Walmart 37,648 4 1.55% 32,373 3 1.70% Arizona State University 37,402 5 1.54% 12,676 8 0.67% University of Arizona 23,439 6 0.97% 11,442 10 0.60% Fry's Food Stores 21,000 7 0.87% 17,286 4 0.91% City of Phoenix 15,415 8 0.64% 14,585 5 0.77% HonorHealth 14,801 9 0.61% Wells Fargo & Co. 13,000 10 0.54% 14,480 6 0.76% Maricopa County 13,567 7 0.71% Dignity Health 12,100 9 0.64% Total for Principal Employers Total Employment in Maricopa County 290,838 12.00% 2,423,400 1,900,314 As of June 30 Source: 214,731 The Phoenix Business Journal, Book of Lists. Arizona’s Economy – www.azeconomy.org 319 11.30% Maricopa County Budgeted Full-time Equivalent County Employees by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 General Government Board of Supervisors 27 28 28 28 27 27 29 28 28 Call Center 27 27 27 22 20 20 20 20 37 36 County Assessor 322 315 311 310 296 296 296 296 295 289 County Manager 18 18 17 21 31 34 27 17 23 24 Elections 52 52 52 28 31 29 57 56 66 67 Facilities Management 137 165 239 136 137 136 141 141 141 144 Finance 39 39 38 37 39 39 33 47 51 54 Human Resources 46 46 46 47 77 104 101 102 109 107 Enterprise Technology 202 216 214 215 217 217 205 205 211 212 Internal Audit 18 18 18 18 19 19 20 20 20 20 Management and Budget 18 19 19 16 16 15 15 Procurement Services 37 40 37 27 27 27 26 26 26 26 Other General Government 90 85 86 87 90 91 91 88 91 92 Recorder 56 56 56 87 86 89 96 101 102 96 Employee Health Initiatives 28 28 25 25 Treasurer 55 55 57 64 59 70 70 68 71 71 Deputy County Manager 12 12 11 Assistant County Manager 11 9 9 Real Estate 29 9 9 5 3 12 10 9 30 32 32 32 35 37 36 Public Safety Adult Probation 1,117 1,143 1,164 1,200 1,197 1,201 1,192 1,167 1,154 1,155 Clerk of Superior Court 683 680 689 695 692 686 670 674 679 679 Constables 36 36 37 37 37 37 37 37 38 37 County Attorney 946 984 999 1,022 1,020 1,059 1,051 1,056 1,082 1,102 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 2,664 44 44 52 202 211 212 602 597 591 94 116 119 113 124 128 51 67 67 3,986 3,951 4,025 429 2,335 2,387 2,431 2,459 Emergency Management 15 17 16 36 Flood Control 228 187 186 188 Juvenile Probation 689 703 674 659 Medical Examiner 88 88 94 100 Planning & Development 85 80 85 88 Public Fiduciary 42 44 48 48 3,928 3,982 3,859 3,850 Deputy County Manager 13 16 15 15 Assistant County Manager 4 4 4 10 2,455 37 190 660 101 104 48 3,846 14 3 410 416 421 423 425 Air Quality 142 145 144 143 150 Animal Control 170 169 174 185 188 Correctional Health 464 475 482 486 484 Environmental Services 290 288 281 279 Human Services Other Health, Welfare and Sanitation 372 399 545 358 11 11 12 12 Public Health 625 633 622 618 Waste Resources and Recycling Mgmt 23 22 22 22 Assistant County Manager 2 2 Library District 165 164 165 Parks and Recreation 81 78 82 Stadium District 5 5 152 145 Sheriff 4 2 2 9 11 11 439 437 435 487 154 156 155 158 154 179 183 176 177 183 491 502 500 550 561 297 295 293 294 300 306 369 343 340 385 444 448 547 523 552 585 809 832 168 168 168 179 186 251 214 82 91 94 96 96 98 102 5 5 1 102 121 90 86 84 86 64 63 14,516 14,427 14,507 14,640 14,736 15,291 15,506 Highways and Streets Transportation Health, Welfare and Sanitation Culture and Recreation Education Education Service Total 14,316 14,531 14,648 Source: Maricopa County Adopted Budgets 320 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) (4) 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 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 1,718,670 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 1,866,897 1,454,103 1,454,103 (4) 2,595,272 2,656,320 2,089,563 2,089,563 (4) 2,435,397 1,562,758 2,419,609 1,562,758 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 28,384 286,204 23,045,694 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 39,039 12,387 0 165 0 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 23 19 82 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 6 0 3,632 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 119 53 125 N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) N/A (2) 311,187 263,639 268,025 286,792 285,201 250,412 211,967 223,318 264,831 289,254 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 2,568 131 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 1,057,472 607,758 6,186 5,235 5,223 5,195 4,887 4,335 2,415 2,394 3,016 3,617 15 18 19 22 24 28 29 31 31 29 185,887 182,632 184,793 181,338 183,742 167,054 155,607 152,375 162,019 172,260 288,837 122,321 330,800 113,016 336,744 125,543 341,530 111,634 331,327 118,032 328,562 157,780 385,196 123,129 401,790 140,718 383,123 158,651 374,719 155,914 10,730 8,425 7,391 6,265 39,218 73,750 730,134 820,877 254,730 143,620 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 5,018,623 144,452 666,091 686,477 693,332 703,287 717,853 745,409 683,474 674,239 588,657 583,315 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 58 20,830 19,000 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. Data was adjusted during fiscal year 2024. Note: Indicators for Highways and Streets is not available. Source: Various County Agencies 321 Maricopa County Capital Asset Statistics by Function/Program Last Ten Fiscal Years Fiscal Year Function/Program 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 29 29 28 27 29 202 203 203 202 208 2020-21 2021-22 2022-23 2023-24 General Government Facilities Management Number of buildings owned by Facilities Number of buildings maintained by Facilities 30 210 30 30 30 30 200 210 216 216 Public Safety Flood Control District 358 368 394 400 405 409 410 413 412 416 Justice Courts Operating alert stations 26 26 26 26 26 26 26 26 26 26 Juvenile Courts 2 2 2 2 2 2 2 2 2 2 11,088 11,013 10,006 9,329 9,329 8,476 8,476 9,027 8,998 6 6 6 6 5 5 5 6 6 Miles of Road 5,378 5,411 5,390 5,402 5,269 5,313 5,210 5,203 5,203 5,169 Miles of road with paved surfaces 4,582 4,581 4,578 4,609 4,509 4,167 4,462 4,460 4,467 4,438 Sheriff Inmate beds available (incl. portable) Number of jail facilities 8,494 6 Highways and Streets Transportation Number of major bridges 20 20 20 20 20 20 20 20 22 19 Number of total bridges 285 287 287 291 291 294 295 294 302 289 2 2 2 2 2 2 2 2 2 2 Number of public health facilities 21 21 21 24 21 21 24 22 17 15 Number of WIC facilities 15 15 14 17 17 16 18 16 14 12 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 4 Facilities operated 15 16 16 16 16 15 15 15 12 12 Regional county parks 9 9 9 11 12 12 12 12 12 12 County managed golf courses 3 3 3 3 3 3 3 3 3 119,257 119,257 119,968 120,039 121,185 121,185 186,109 186,612 186,798 1 1 2 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 3 186,798 Stadium District Major league baseball field Source: Various County Agencies. Note: Indicators for Education are not available. 322 www.maricopa.gov